Hail the PPP banking model!

Public-private partnerships, or PPPs, have not succeeded much in India because they often start with the unstated objective of super-profits for the private party and losses for the public sector body. Something similar occupies the heart of Indian banking, even though there is no formal PPP in banking. It works insidiously, often through the Indian Banks' Association, but the idea is the same - losses but no accountability for the "public" organisation, and super-profits for private bodies.

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