TRAVERSING THE BANKING LAW ON PUBLIC SECTOR BANKS IN INDIA

Authors: Shrey Sahai, Student of CHRIST (Deemed To Be University) Bangalore.

Best Citation – Shrey Sahai, TRAVERSING THE BANKING LAW ON PUBLIC SECTOR BANKS IN INDIA, Indian Journal of Legal Review (IJLR), 3 (1) of 2023, Pg. 263-270, ISSN – 2583-2344.

ABSTRACT

In India, several reforms over the past few decades have been taken on by the country’s public sector banks. Currently, there is a major crisis in the public sector banking industry. The purpose of this study is to suggest ways forward in the effort to create a reliable Public sector Banking system in India. An overview of the background is provided, and a statistical analysis of the current state is performed so that appropriate solutions can be proposed. The difficulties are listed under many topics, including nonperforming assets (NPAs), the need for recapitalization, governance problems, a dearth of qualified workers, and more. Based on these difficulties, suggestions have been made to improve the government and the economy. The authors made an effort to critically analyze the issue by drawing parallels to other countries while keeping their Indian heritage in mind. Finally, without placing too much emphasis on privatization, alternatives have been presented that will allow Public Sector Banks to retain their identity. Extreme measures for rebuilding have been emphasized. The primary challenges experienced by PSBs have been addressed to the best of our abilities.

KeyWords: Public Banks, Government, Banking Law, Non-Performing Assets, Nationalisation.