--- title: "Meaning & Key Takeaway of: I think public sector banks need to have…" description: "\"I think public sector banks need to have greater private participation of people who have skin in the game.\" — Ajay Piramal" image: "https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg" --- # I think public sector banks need to have greater private… ![“I think public sector banks need to have greater private participation of people who have skin in the game.” quote by Ajay Piramal](https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg) [Download](https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg) [Open image](https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg) > “I think public sector banks need to have greater private participation of people who have skin in the game.” [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Advocates for more private investors in public banks to ensure accountability and shared risk. **In simple terms:** Banks need owners who care. Key Takeaway Encourage stakeholder investment in public finance. Themes finance governance risk management Mood concerned optimistic Type policy opinion When to use this quote - bank board meetings - policy reform discussions - investment conferences Key Concepts private equity public‑private partnership stakeholder theory Questions to Reflect On - What safeguards ensure private investors act responsibly? - How can public interest be protected? A Different Perspective Private involvement can prioritize profit over public service. ★ ★ ★ ★ ★ No ratings yet [Banks Need](https://sms4smile.com/quotes/about/banks-need-1200111/) [Customer](https://sms4smile.com/quotes/about/customer/) [Game](https://sms4smile.com/quotes/about/game/) [I think](https://sms4smile.com/quotes/about/i-think/) [Participation](https://sms4smile.com/quotes/about/participation/) [Participation People](https://sms4smile.com/quotes/about/participation-people-2424811/) [People](https://sms4smile.com/quotes/about/people/) [Private Participation](https://sms4smile.com/quotes/about/private-participation-2424810/) [Public sector](https://sms4smile.com/quotes/about/public-sector/) [Sector Banks](https://sms4smile.com/quotes/about/sector-banks-1200112/) [Think Public](https://sms4smile.com/quotes/about/think-public-274660/) ## Related quotes > [One of the things that the public sector banks need to do is to raise private capital from the market and not rely on…](https://sms4smile.com/quotes/urjit-patel/one-of-the-things-that-the-public-sector-banks-need-to-do-is-to-raise/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [As many have pointed out, it is not clear that we need so many public sector banks. The system could be better off if…](https://sms4smile.com/quotes/urjit-patel/as-many-have-pointed-out-it-is-not-clear-that-we-need-so-many-public/) [Urjit Patel](https://sms4smile.com/quotes/author/urjit-patel/) > [The big issue is how much money can the government infuse for the capitalisation of the banks when we have quite a few private…](https://sms4smile.com/quotes/anurag-thakur/the-big-issue-is-how-much-money-can-the-government-infuse-for-the/) [Anurag Thakur](https://sms4smile.com/quotes/author/anurag-thakur/) > [I think we should, as the public sector or politicians, stop creating an illusion that it is the public sector that drives growth and…](https://sms4smile.com/quotes/alexander-stubb/i-think-we-should-as-the-public-sector-or-politicians-stop-creating/) [Alexander Stubb](https://sms4smile.com/quotes/author/alexander-stubb/) > [I really don't think that the public-sector employees should be unionized.](https://sms4smile.com/quotes/ron-johnson/i-really-don-t-think-that-the-public-sector-employees-should-be/) [Ron Johnson](https://sms4smile.com/quotes/author/ron-johnson/) > [Massive shift from presentation to participation...people want to be part of to be part of the conversation](https://sms4smile.com/quotes/roy-sekoff/massive-shift-from-presentation-to-participation-people-want-to-be/) [Roy Sekoff](https://sms4smile.com/quotes/author/roy-sekoff/) > [I believe that when it comes to the creation of Sankalp Patra, India in its history has never seen such participation of people.](https://sms4smile.com/quotes/rajnath-singh/i-believe-that-when-it-comes-to-the-creation-of-sankalp-patra-india/) [Rajnath Singh](https://sms4smile.com/quotes/author/rajnath-singh/) > [We have to consciously build the elements of a world based on a culture of peace and disarmament. This is a task for everyone.…](https://sms4smile.com/quotes/widad-akrawi/we-have-to-consciously-build-the-elements-of-a-world-based-on-a/) [Widad Akrawi](https://sms4smile.com/quotes/author/widad-akrawi/) > [The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various…](https://sms4smile.com/quotes/john-l-casti/the-global-financial-system-consists-of-firms-in-the-financial/) [John L. Casti](https://sms4smile.com/quotes/author/john-l-casti/) > [That's the problem with the financial sector. Banks and the financial sector live in the short run, not the long run. In principle the…](https://sms4smile.com/quotes/michael-hudson/that-s-the-problem-with-the-financial-sector-banks-and-the-financial/) [Michael Hudson](https://sms4smile.com/quotes/author/michael-hudson/) > [The Bankers' New Clothes makes a simple, powerful argument: that banks need to raise more capital. It is entirely persuasive that the extent of…](https://sms4smile.com/quotes/diane-coyle/the-bankers-new-clothes-makes-a-simple-powerful-argument-that-banks/) [Diane Coyle](https://sms4smile.com/quotes/author/diane-coyle/) > [Banks need to think through their ethics very carefully, and many have done so. I don't know any bank that dismisses the concept of…](https://sms4smile.com/quotes/justin-welby/banks-need-to-think-through-their-ethics-very-carefully-and-many-have-2/) [Justin Welby](https://sms4smile.com/quotes/author/justin-welby/) > [The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability.…](https://sms4smile.com/quotes/daniele-nouy/the-financial-crisis-has-underscored-how-insufficient-attention-to/) [Daniele Nouy](https://sms4smile.com/quotes/author/daniele-nouy/) > [We need to change how we run banks. We need to change the culture. If we get it right, we can have a huge…](https://sms4smile.com/quotes/ana-patricia-botin/we-need-to-change-how-we-run-banks-we-need-to-change-the-culture-if/) [Ana Patricia Botin](https://sms4smile.com/quotes/author/ana-patricia-botin/) > [Banks need to think through their ethics very carefully, and many have done so. I dont know any bank that dismisses the concept of…](https://sms4smile.com/quotes/justin-welby/banks-need-to-think-through-their-ethics-very-carefully-and-many-have/) [Justin Welby](https://sms4smile.com/quotes/author/justin-welby/) ## More by Ajay Piramal > [Spirituality permeates all aspects of your life and business is just one part of your life.](https://sms4smile.com/quotes/ajay-piramal/spirituality-permeates-all-aspects-of-your-life-and-business-is-just/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We will follow in letter and spirit whatever the RBI rules and guidelines are - whether at the holding company level or individual company…](https://sms4smile.com/quotes/ajay-piramal/we-will-follow-in-letter-and-spirit-whatever-the-rbi-rules-and/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Horses and dogs were part of my growing up years.](https://sms4smile.com/quotes/ajay-piramal/horses-and-dogs-were-part-of-my-growing-up-years/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We have been successful in buying and selling companies because we have a reputation of fulfilling deal terms in letter and spirit.](https://sms4smile.com/quotes/ajay-piramal/we-have-been-successful-in-buying-and-selling-companies-because-we/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Leadership is more than just managing economic reforms. Leadership means giving broad direction, take up challenges which other people cannot do.](https://sms4smile.com/quotes/ajay-piramal/leadership-is-more-than-just-managing-economic-reforms-leadership/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We always set ambitious goals in our group, and I have found that if you set your mind to it, you can do it…](https://sms4smile.com/quotes/ajay-piramal/we-always-set-ambitious-goals-in-our-group-and-i-have-found-that-if/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Buying a house is not an overnight decision, and people can wait for 3 to 6 months.](https://sms4smile.com/quotes/ajay-piramal/buying-a-house-is-not-an-overnight-decision-and-people-can-wait-for-3/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Many people say that in a liberalised world there is little for the government to do, but the fact is that there is much…](https://sms4smile.com/quotes/ajay-piramal/many-people-say-that-in-a-liberalised-world-there-is-little-for-the/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We have a unique culture.](https://sms4smile.com/quotes/ajay-piramal/we-have-a-unique-culture/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We take dispassionate view of our investments. Does it mean that we are looking out to monetise the investment? That is not correct. But…](https://sms4smile.com/quotes/ajay-piramal/we-take-dispassionate-view-of-our-investments-does-it-mean-that-we/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [I think my greatest virtue is that I have the courage to take tough decisions. As for my greatest fault, I guess I should…](https://sms4smile.com/quotes/ajay-piramal/i-think-my-greatest-virtue-is-that-i-have-the-courage-to-take-tough/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [We are a very systems- and process- driven business which reports directly to the board, whether it is risk or legal.](https://sms4smile.com/quotes/ajay-piramal/we-are-a-very-systems-and-process-driven-business-which-reports/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [Disabilities and misfortune can make you stronger.](https://sms4smile.com/quotes/ajay-piramal/disabilities-and-misfortune-can-make-you-stronger/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [In life, there are always intense battles, and yet we must practise the lessons from the Gita.](https://sms4smile.com/quotes/ajay-piramal/in-life-there-are-always-intense-battles-and-yet-we-must-practise-the/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) > [When we exited the textiles business, we paid our bankers and labourers. We must have been the only company to do that.](https://sms4smile.com/quotes/ajay-piramal/when-we-exited-the-textiles-business-we-paid-our-bankers-and/) [Ajay Piramal](https://sms4smile.com/quotes/author/ajay-piramal/) [Explore all 65 Ajay Piramal quotes ](https://sms4smile.com/quotes/author/ajay-piramal/) ## More Customer quotes > [“Start a business, not a startup”](https://sms4smile.com/quotes/anonymous/start-a-business-not-a-startup/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Amongst the financial Twitterati, the term 'muppets' has come to describe any client used and abused by some financial predator. I've adopted the term…](https://sms4smile.com/quotes/barry-ritholtz/amongst-the-financial-twitterati-the-term-muppets-has-come-to/) [Barry Ritholtz](https://sms4smile.com/quotes/author/barry-ritholtz/) > [Many early-stage entrepreneurs make one simple mistake: Describing this 'big picture' in vague concepts and words.](https://sms4smile.com/quotes/sunil-nagaraj/many-early-stage-entrepreneurs-make-one-simple-mistake-describing/) [Sunil Nagaraj](https://sms4smile.com/quotes/author/sunil-nagaraj/) > [The purpose of this book is to supply, in the form suitable for laymen, guidance in the adoption and execution of an investment policy.](https://sms4smile.com/quotes/benjamin-graham/the-purpose-of-this-book-is-to-supply-in-the-form-suitable-for-laymen/) [Benjamin Graham](https://sms4smile.com/quotes/author/benjamin-graham/) > [Don't think OF the market. Think AS the market.](https://sms4smile.com/quotes/michael-fishman/don-t-think-of-the-market-think-as-the-market/) [Michael Fishman](https://sms4smile.com/quotes/author/michael-fishman/) > [If Wall Street crashes, does Main Street follow? Not necessarily.](https://sms4smile.com/quotes/ben-bernanke/if-wall-street-crashes-does-main-street-follow-not-necessarily/) [Ben Bernanke](https://sms4smile.com/quotes/author/ben-bernanke/) > [The exact details of how you practice value investing will vary investor to investor, but the fundamental principle of scouring the world, looking for…](https://sms4smile.com/quotes/whitney-tilson/the-exact-details-of-how-you-practice-value-investing-will-vary/) [Whitney Tilson](https://sms4smile.com/quotes/author/whitney-tilson/) > [The best way to hold customers is to constantly figure out how to give them more for less.](https://sms4smile.com/quotes/philip-kotler/the-best-way-to-hold-customers-is-to-constantly-figure-out-how-to/) [Philip Kotler](https://sms4smile.com/quotes/author/philip-kotler/) > [Perhaps the most important reason to be skeptical of government inflation numbers is that the government, like a fox campaigning to guard a hen…](https://sms4smile.com/quotes/peter-schiff/perhaps-the-most-important-reason-to-be-skeptical-of-government/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency.…](https://sms4smile.com/quotes/peter-schiff/when-the-dollar-collapses-it-s-not-doing-it-in-a-vacuum-if-the-dollar/) [Peter Schiff](https://sms4smile.com/quotes/author/peter-schiff/) > [Corporations invest in sophisticated CRM, or Customer Relationship Management, programs to effectively oversee their relationship with their customers at every point during the buying…](https://sms4smile.com/quotes/marc-ostrofsky/corporations-invest-in-sophisticated-crm-or-customer-relationship/) [Marc Ostrofsky](https://sms4smile.com/quotes/author/marc-ostrofsky/) > [I believe confusion is good. Worldwide market leaders gain when there is confusion in the market.](https://sms4smile.com/quotes/subhash-chandra/i-believe-confusion-is-good-worldwide-market-leaders-gain-when-there/) [Subhash Chandra](https://sms4smile.com/quotes/author/subhash-chandra/) > [Damn inflation, full speed ahead,' Greenspan has said in both action and word. I think an investor should believe him and invest accordingly.](https://sms4smile.com/quotes/bill-gross/damn-inflation-full-speed-ahead-greenspan-has-said-in-both-action-and/) [Bill Gross](https://sms4smile.com/quotes/author/bill-gross/) > [“When companies get big, they devote most of their care and feeding to the business that got them big. This is as it should…](https://sms4smile.com/quotes/eric-schmidt/when-companies-get-big-they-devote-most-of-their-care-and-feeding-to/) [Eric Schmidt](https://sms4smile.com/quotes/author/eric-schmidt/) > [“Salesmanship is usually the art of making it the prospect’s problem, the salesperson’s need or desire to earn money.”](https://sms4smile.com/quotes/mokokoma-mokhonoana/salesmanship-is-usually-the-art-of-making-it-the-prospect-s-problem/) [Mokokoma Mokhonoana](https://sms4smile.com/quotes/author/mokokoma-mokhonoana/) [Browse all 9,257 Customer quotes ](https://sms4smile.com/quotes/about/customer/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "I think public sector banks need to have greater private participation of people who have skin in the game.", "creator": { "@type": "Person", "name": "Ajay Piramal" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/ajay-piramal/i-think-public-sector-banks-need-to-have-greater-private/", "about": { "@type": "Thing", "name": "Customer" }, "@id": "https://sms4smile.com/quotes/ajay-piramal/i-think-public-sector-banks-need-to-have-greater-private/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg", "contentUrl": "https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg", "url": "https://sms4smile.com/quotes/i/6d4/ajay-piramal-10485_customer_i-think-public-sector-banks-need-to-have_242054.jpg", "width": 1080, "height": 1080, "caption": "“I think public sector banks need to have greater private participation of people who have skin in the game.” — Ajay Piramal", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Ajay Piramal", "item": "https://sms4smile.com/quotes/author/ajay-piramal/" }, { "@type": "ListItem", "position": 4, "name": "I think public sector banks need...", "item": "https://sms4smile.com/quotes/ajay-piramal/i-think-public-sector-banks-need-to-have-greater-private/" } ], "@id": "https://sms4smile.com/quotes/ajay-piramal/i-think-public-sector-banks-need-to-have-greater-private/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```