The Indian government must let go of state-owned banks—but it just won’t

The Indian government must let go of state-owned banks—but it just won’t

The Indian government should cut its stake below 50% in state-owned banks. That was the advice from the country’s chief economic advisor, Arvind Subramanian, as well as the industry lobby Assocham over the weekend. It was what the country’s central bank said in August 2016, and was repeated by the Confederation of Indian Industry (CII)…