PNB scam: "Government should privatise national banks" seeks Adi Godrej

“I have never heard of a big scam taking place in a private bank"

Adi Godrej seeks privatisation of national banks / AP image

New Delhi: As the country’s biggest scam in banking sector came to light, Famous entrepreneur and Godgrej Group Chairman, Adi Godrej on Wednesday suggested that Government should privatise national banks. Speaking on the same, he said “I don’t see a need for so many Government run banks”. “I think we have a lot of Public sector areas which need to be privatized”. He further lauded government for privatizing Air India. “It is great that government is privatizing Air India”. He also said that “I think privatising national banks will prove to be fruitful”. “I have never heard of a big scam taking place in a private bank. Some ups and downs keep happening in companies, but if better facilities are available, it rarely happens in private sector” Godrej added. “Government should not only indulge in disinvestment but should incline towards privatization” he said. He further mentioned Vajpayee Government’s major moves of disinvestment, which proved to be a boon. He added “I hope the same from the current government as well”. The statement came after a whopping Rs 11,500 crore scam inside Punjab National Bank came to light. As the matter unfolded, the involvement of country’s biggest diamond merchant Nirav Modi and his uncle, Mehul Choksy’s hand was reported. Currently, both the accused are at large and fled the country weeks before matter came to light.