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Raghuram Rajan, RBI Governor, who was in Washington yesterday, has assured the MNCs that the Government of India will bring big banking reforms so that even the MNCs can take over indian banks! Is it reform that Indian banks should be handed over to foreign banks? And such statements are made in a foreign country to appease and please the foreign companies!
Already the Government is in the process of giving licences to the Indian Corporates and big business houses to start banks. The people have not forgotten how the private banks, in the 1950-60s, have been cheating the public and how the government was compelled to nationalise these banks.
Is India gradually being converted in to a subsidiary of the US Government?