It Is High Time For Government to Strict the NPA Recovery Rules
With the help of strict rules only, the scams and NPA’s can be recovered. Over the years, the government has endorsed strict rules to recover assets of defaulters.
Veteran economists have also pointed out that the NPA problem has to be tackled before the time a company starts defaulting.
However, the idea of privatizing the public sector banks seems to be very controversial. The idea of reversing a measure taken during India’s supposedly socialist heyday is still so controversial is unclear. After all, government ownership of banks is perhaps the most prominent example of the “commanding heights” of the economy being under state control. It is believed that the time has come to dismantle this relic of a command and control economy.