New Delhi: Economist Abhijeet Banerjee, who was selected for the Nobel Prize in Economics, expressed concern about the country's banking crisis. Along with this, he also gave some important suggestions to the government. Banerjee said that the government's stake in banks should be brought down below 50 per cent, as well as his opinion on making some aggressive changes. He said that to come out of the crisis important and aggressive changes have to be brought.

Nobel laureate Abhijeet Banerjee says that fear of investigation by the Central Vigilance Commission (CVC) in default cases has paralyzed the banking system and bankers are scared to lend. Reducing government equity in public sector banks under 51 per cent takes them out of the CVC's purview.

For the past five years, the problem of high amount of debt in the country's banks has increased. Due to which the net worth of banks has started to decrease. Not only this, this problem is getting bigger after the Punjab and Maharashtra Cooperative (PMC) case came to light. In fact, in August, the Central Vigilance Commission constituted an Advisory Board for Bank Fraud under the chairmanship of former Vigilance Commissioner TM Bhasin.

The board's job is to investigate bank fraud of more than Rs 50 crore and suggest action. Recently, an economist of Indian origin, Abhijeet Banerjee had said that the Indian economy is lagging. He said that at the moment the economy does not seem to improve soon. 

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