Topic: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.
5. Highlight the major downsides of India’s nationalized banks and deliberate upon methods to improve efficiency and accountability. (250 words)
Reference: Business Standard
Why the question:
The Enforcement Directorate’s (ED) transfer of seized assets of the three fugitive businessmen- Vijay Mallya, Nirav Modi and Mehul Choksi to the affected public sector banks. Thus the question.
Key Demand of the question:
Bring out the major short comings of India’s nationalized banks and suggest methods to improve efficiency and accountability.
Directive:
Deliberate – Weigh up to what extent something is true. Persuade the reader of your argument by citing relevant research but also remember to point out any flaws and counter- arguments as well. Conclude by stating clearly how far you agree with the original proposition.
Structure of the answer:
Introduction:
Start with a brief account of India’s nationalized banks.
Body:
The answer body must have the following aspects covered:
The answer must capture the major drawbacks of the India’s nationalized banks.
Discuss in detail the issues associated.
Suggest methods that can help improve efficiency and develop accountability.
Conclusion:
Conclude with way forward.
