Public sector banks should learn from FMCG players and “democratise credit”, a move that can help them solve the “biggest fiscal challenge” of recapitalisation, former RBI deputy governor Viral Acharya said on Wednesday. “There are some PSBs whose business model is so broken in my assessment that there won’t be any immediate suitors who are interested in buying their equity in a significant manner or at decent prices. What is the option? I’d say they should focus on sachetisation or democratisation of credit,” Mr. Acharya said, speaking at a summit organized by ETBFSI.com.He also said that reprivatisation of the lenders is necessary to help reduce the recapitalisation burden.
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