P: The basic reform they need is to change their holding structure to give them autonomy, as well as accountability, not a promise of no government interference.
Q: PSBs need systemic reform to overhaul their current decision-making structure and culture.
R: If the government does not want to free the banks from majority state ownership, it could at least put them at arm’s remove, by creating a holding company that would hold the PSB equity, appoint PSB boards and supervise their functioning.
S: It is surprising that after appointing the Banks Board Bureau, it has been given little role in reforming the PSBs.