Public sector banks/FIs, for example, are more akin to the ‘outsider’ model with separation of “Ownership’ and ‘Management’. Private sector banks/NBFC/Co-ops – much more “insider” models with families, inter-connected entities or promoters running the management. There is some uniformity in the Corporate Governance structure in the “outsider model” consists of relatively large public institutions, and which are also relatively old.
On the positive side: (a)  2  difference in ‘Ownership’ and ‘Management’;  BIS Review 3/2002  (b)  Disclosure and transparency(with one or two exceptions). They are also becoming subject to better accounting standards;  (c)  Prudential norms – Capital Adequacy Ratio (CAR), provisioning, rec. norms are fairly good.