A week back or so, we fiddled with the idea of introducing flashcards of basic theoretical terms which bug early stage aspirants when they read daily news. Here’s the post on that.
This time, we are going in a step further. And what better way to deal with complex concepts, than with a comic strip interspersed with conversations and questions! Sounds fun? Here we go.
The rules of this initiative. Only 2, not much!
- We will introduce a module from static or current affairs in the most interesting way that we can conjure up.
- We will poke holes in the committee reports, suggestions, policy changes, historical blunders etc etc so that we all pitch in with clarifications and help each other understand the basics of things.
Over to the topic at hand then…
P J Nayak was entrusted (by none other than Raghuram Rajan) to head an RBI committee on banking governance and present a report, which he did in style:
Do you know why banks were nationalised way back in Indira Gandhi’s time?
And why it might still be a good idea (according to government) to keep control over them?
For newly enthused aspirants, it might be a good idea to go figure the pros and cons of such heavy oversight of FinMin – RBI – CAG – CVC over public sector companies in general (banks or otherwise).
If you were to represent government’s interest here, what would your rebuttal be? Take a hint from the its seven-pronged strategy called ‘Indradhanush’ to revamp public-sector banks. P J Nayak wasn’t very happy with that!