However, administered interest rates still prevail in small savings schemes of the Government. BIS Review 35/2005  1  Second, as regards the policy environment of public ownership, it must be recognised that the lion’s share of financial intermediation was accounted for by the public sector during the pre-reform period.
As part of the reforms programme, initially, there was infusion of capital by the Government in public sector banks, which was followed by expanding the capital base with equity participation by the private investors.