Raghuram Rajan calls for change in appointment process in PSU banks

Reserve Bank of India (RBI) Governor Raghuram Rajan has said there is a need to change the management appointment process in public sector banks to make it more transparent.

The central bank is in talks with the government to improve governance in public sector banks, Rajan told a banking conference on Monday.

The RBI Governor also said problems that have emerged in recent bank scandals were due to outsourced project evaluation.

(Reuters)