James Crabtree of the FT
reporting on the predicament of the then PM Singh commented in March 2012 that
Indian Banking was at the brink and needed heavy capital infusion to catch up
with Basel III requirements and clean up to measure up to the requirements of
economic growth to revive to beyond 7%.
The position worsened ever since.
Gyan Sangam (Intellectual Confluence), the second after the formation of the
present government that discussed the revamp of the banks a couple of days back
at Gurgaon, Delhi have not offered any better wisdom than loud whispers of
consolidation of banks. Is consolidation of banks the right solution?
