Reportedly Finance Minister nirmala sitharaman has said that the Indian public sector banks had the "worst phase" under the combination of former Prime Minister manmohan singh and RBI Governor Raghuram Rajan. When delivering a lecture at the prestigious Columbia University's School of International and Public Affairs, Sitharaman said that giving all the public sector banks a "lifeline" is today her primary duty.

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Sitharaman said during the lecture organized by the deepak and Neera raj Centre on Indian Economic Policies of the Columbia University "I'm taking a minute to respond I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in india at a time when the Indian economy was all buoyant". When asked about Rajan's comments during a recent lecture at Brown University in which he had apparently mentioned that in its first term, the narendra modi government had not done better on the economy because the government was extremely centralized and the leadership does not appear to have a consistent articulated vision on how to achieve economic growth.



She said "You need to have a country as diverse as india with an effective leadership. A rather too democratic leadership, which probably will have the approval of quite a lot of liberals, I'm afraid, left behind such a nasty stink of corruption, which we are cleaning up even today”.


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