Jairam Ramesh tweeted- “While I am in awe of Abhijit Banerjee’s intellectual prowess I disagree strongly with him that govt should privatise public sector banks.”
New Delhi| Congress leader Jairam Ramesh said on Tuesday that he disagreed with Nobel laureate Abhijit Banerjee’s view of privatising banks. Banerjee had said that the government should privatize public sector banks to deal with the banking crisis in the country. He described the banking crisis in the country as horrific. The government was also planning disinvestment to deal with this situation.
Abhijeet had said, “The government should reduce its stake in public sector banks to less than 50% so that the banks are out of the purview of the Central Vigilance Commission.” Reacting to this, Jairam Ramesh tweeted- “While I am in awe of Abhijit Banerjee’s intellectual prowess I disagree strongly with him that govt should privatise public sector banks.”
While I am in awe of Abhijit Banerjee's intellectual prowess I disagree strongly with him that govt should privatise public sector banks.
— Jairam Ramesh (@Jairam_Ramesh) October 22, 2019
The banking system is in crisis due to non-performing assets (NPAs) of nearly five years. The net worth has declined in the region due to NPAs. Many scams have also taken place. Recently the Punjab and Maharashtra Cooperative Bank scam has come to light.
Banerjee has received the Nobel of Economics with wife Esther Dufflo. He met Prime Minister Narendra Modi on Tuesday. He then said that the banking sector in India is in trouble. However, he refused to say anything about India’s economic policies.
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