Public Sector Enterprises in India is a comprehensive and authoritative work covering the entire public sector in India, including the financial sector public enterprises such as banks and insurance companies. The book begins with the philosophy behind the public sector and traces its evolution in India and its subsequent privatisation and disinvestment after the economic liberalisation of 1991. Based on the most up-to-date data and the latest developments, it examines the plight and options of a public sector paralysed by excessive government interference and now trapped hopelessly between the State and the market. Drawing widely upon global experiences, the book argues that disinvestment and privatisation need not be the only answer to reform the public sector companies. They can be rejuvenated and transformed into global champions if freed from the stifling controls by an unimaginative government machinery, by depoliticisation and separation of the government’s roles as a majority stakeholder, policy-maker and regulator—and by changing their holding structure.

Financial Sector Public Enterprises
Financial sector public enterprises

On 19 July 1969, the ownership of 14 major Indian banks was transferred to the government by the banking companies (acquisition and transfer of undertakings) Ordinance. In the 50th anniversary year of that landmark decision, on 30 August 2019, the Union Finance Minister Ms Nirmala Sitharaman announced the merger of 10 public sector banks (PSBs) owned by the Government of India into four large banks, reducing in a single stroke the total number of state-owned banks in the country from 27 to 12. The plan included the merger of Punjab National Bank with Oriental Bank of Commerce and United Bank of India; Canara Bank with Syndicate Bank; Union Bank of India with Andhra Bank and Corporation Bank; ...

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