That leaves only the untainted nationalised banks, the foreign bank bidders and Indiabulls. The latter two require a serious change in the RBI’s policy, which is very unlikely to happen overnight, especially when the central bank is under pressure to make a quick decision and there are plenty of other options. That leaves only a few nationalised banks in the race. My sources among banks and regulators say that RBI will settle for a bank with the strongest balance sheet, which has travelled
some distance from its last scandal. As things stand, the banking industry will probably be willing to bet that Canara Bank will ultimately walk away with UWB and bury the issues.
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