SBI chief Rajnish Kumar hits back at critics seeking PSB privatisation

State Bank of India chairman Rajnish Kumar said those living in glass houses shouldn’t throw stones at others and that the private sector’s claims of higher corporate governance standards sound hollow in light of their high rates of debt default and bankruptcy cases. 

Kumar, the chairman of the country’s largest bank by assets, hit back at critics of staterun enterprises and their calls for privatising state-run banks in an interview to ET on Monday. 

He said almost all bad loans and poor governance standards cases are from private sector enterprises while state-run firms have high governance standards. 

“If the private sector is all about good corporate governance then tell me which public sector company is in NCLT (National Company Law Tribunal) today? 

They are all private sector companies,” Kumar said. “They all default and sit in the front rows of the industry associations. That is the reality today. So when ..