People are being made to pay for the crimes of capitalist loan defaulters

Public sector banks are run in the service of private capitalist corporations

At a conference of senior bank executives, the Reserve Bank of India (RBI) Governor on 11 July 2020 told that the economic impact of the pandemic “may result in higher non-performing assets (NPAs) and capital erosion of banks. A recapitalization plan for public sector banks (PSBs) and private banks has, therefore become necessary.”

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