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Rajan: need to look at governance of state-run banks
August 5, 2014 / 6:28 AM / in 3 years

Rajan: need to look at governance of state-run banks

MUMBAI (Reuters) - India needs to look again at the governance of state-run banks, RBI chief Raghuram Rajan said on Tuesday, commenting days after the head of Syndicate Bank Ltd was arrested over allegations that he was seeking bribes to favour debtors.

Reserve Bank of India (RBI) Governor Raghuram Rajan prepares to read the bi-monthly monetary policy statement at a news conference at the RBI headquarters in Mumbai April 1, 2014. REUTERS/Danish Siddiqui/Files

Rajan, however, said “one has to be careful” extrapolating the alleged Syndicate Bank issue to the entire banking sector.

Reporting by Suvashree Dey Choudhury; Editing by Anupama Dwivedi

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