Confidence in state-run banks at historic low: Ex-RBI Guv
Former RBI Governor YV Reddy has said confidence in the working of state-run lenders is at a historically low level. The doubts about trust in banks can be attributed to rising bad loans due to defaults by the "very rich and very powerful," he added. Referring to the PNB scam, Reddy said it's the taxpayers who pay for the losses.