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big defaulters

India’s Public Banks are its Lifeline: Privatisation will Ruin Them

By: 
Moin Qazi

The world’s investment leader, Warren Buffett, once said, “It’s only when the tide goes out that you realise who has been swimming naked”. When the banking system hit the rocks and the tide turned, the naked were caught disrobed.

Similarly, sometimes it takes a pitch-black economy to reveal who and what in the financial firmament really shines. It is only when darkness falls that one can see the stars twinkle. The moonlight coming from the otherwise bleak sky of the financial world, has been made possible thanks to honest taxpayers, who are transfusing precious blood to the currently bleeding banks.

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