Contact Your Financial Adviser Money Making MC
13
July 2018
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Arvind Subramanian (The
Total Investment & Insurance Solutions)
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Arvind Subramanian feels
that Indian banking sector should have only a dozon of banks with private banks
more in number than public sector banks. "India should have just three to
five public sector banks and as many private sector banks," Chief Economic
Adviser Arvind Subramanian said in an interview to ToI.
Speaking about the health of Indian banking sector, Subramanian said the country needs more reforms. "We need to do more. We need to think about how to improve governance, more private sector participation."
"I think there should be more private sector banks and probably fewer banks. A healthy system is where we have three to five public sector banks, three to four private sector banks and one or two foreign banks,"Subramanian told
Speaking about the health of Indian banking sector, Subramanian said the country needs more reforms. "We need to do more. We need to think about how to improve governance, more private sector participation."
"I think there should be more private sector banks and probably fewer banks. A healthy system is where we have three to five public sector banks, three to four private sector banks and one or two foreign banks,"Subramanian told
On the relationship between
RBI and government, he said " by definition, there will be friction
because objectives are different, mandates are different, sometimes the
personalities are different. If there isn’t some amount of tension then things
are not right. The only thing is how it’s resolved. It should never be
unseemly." The Total Investment & Insurance Solutions
Also talking about his relation with former RBI governor Raghuram Rajan, Subramanian said he has a very freindly relation with the Rajan. "I tell Raghu this, the only person who knows someone better than his wife, is a co-author. So, I know Raghu better than his wife and Raghu knows me better than my wife. We know each other very well." The Total Investment & Insurance Solutions
On demonistisation he said: "The fact that money came back is not an argument for saying those with black money were not punished. Was it right or wrong? Was it helpful or not? You may have to leave it to historians, three, four five years from now, to do a proper assessment." The Total Investment & Insurance Solutions
Also talking about his relation with former RBI governor Raghuram Rajan, Subramanian said he has a very freindly relation with the Rajan. "I tell Raghu this, the only person who knows someone better than his wife, is a co-author. So, I know Raghu better than his wife and Raghu knows me better than my wife. We know each other very well." The Total Investment & Insurance Solutions
On demonistisation he said: "The fact that money came back is not an argument for saying those with black money were not punished. Was it right or wrong? Was it helpful or not? You may have to leave it to historians, three, four five years from now, to do a proper assessment." The Total Investment & Insurance Solutions
Arvind Subramanian had last month announced that is quitting his post on July 26 to return to academic research in the US, becoming the third high-profile economist after Raghuram Rajan and Arvind Panagariya to depart during the Prime Minister Narendra Modi’s regime .The Total Investment & Insurance Solutions.
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