Hemindra Hazari, a Mumbai-based independent banking analyst, said the government should improve management of state-owned banks and strengthen their governance norms instead of privatizing them.
“You have to strengthen your governance norms. You should put in structures, [and] change the management to address the problems,” Hazari said. “That is where the problem has to be tackled. Even in the private sector, there have been a lot of scams.”