TIL Desk/Business/New Delhi/ Finance Minister Nirmala Sitharaman has accused former Prime Minister Manmohan Singh of leaving behind “a nasty stink of corruption” in the public banking sector, which suffered its “worst phase” under him and former Reserve Bank Governor Raghuram Rajan.
During Rajan’s tenure “loans were given just based on phone calls from crony leaders and public sector banks in India till today are depending on government equity infusion to get out of that mire,” she said on Tuesday during a lecture at Columbia University.
Sitharaman said: “Indian public sector banks did not have the worst phase than when (there was) the combination of Dr Manmohan Singh and Dr Raghuram Rajan, as the Prime Minister and the Governor of the Reserve Bank.”
