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Banks at a Risk of Falling into Foreign Hands, Says Former RBI Governor Y V Reddy
February 05, 2018
Former RBI governor Y V Reddy, who was delivering a lecture at the Administrative Staff College of India recently said that although the Indian banking sector isn’t facing any “crisis” it should look into its current policies lest it should fall into the hands of foreign investors.
Reddy pointed out that the Indian banking system is largely owned by the government and the foreign investors and least by the Indians which is something to be concerned about.
Reddy also said that in the private banks of India the foreign investors have more than 70% stake.
