Committees in News
P. J Nayak Committee For Diluting Govt Stake In Public Sector Banks To Below 50 percent
The Reserve Bank of India (RBI) committee report has recommended on 13 May that the government should divest its stake in state-owned banks to less than 50%, allow private equity houses to own 40% in distressed banks, and strip managers of private sector banks of their bonuses and Esops if they are caught ever-greening sticky loans. The report covers 27 state-controlled lenders. The committee was led by P. Jayendra Nayak, the former chief executive of Axis Bank Ltd. and former India country head of Morgan Stanley.