{"id":9832,"date":"2024-07-30T11:44:10","date_gmt":"2024-07-30T11:44:10","guid":{"rendered":"https:\/\/www.nextias.com\/blog\/?p=9832"},"modified":"2024-11-02T11:30:52","modified_gmt":"2024-11-02T11:30:52","slug":"governance-reforms-in-banks","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/","title":{"rendered":"Governance Reforms in Banks in India"},"content":{"rendered":"\n<p><em><strong>Governance Reforms in Banks in India<\/strong> have been an important part of Banking Sector Reforms in India. Over the years, the Indian banking sector has witnessed significant changes in its governance structure in order to ensure the stability, efficiency, and integrity of the financial system. This article aims to study in detail the Governance Reforms in Banks in India, including key governance issues in PSBs in India and major initiatives taken to improve bank governance.<\/em><\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_56_1 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Governance_Issues_in_Public_Sector_Banks_PSBs_in_India\" title=\"Governance Issues in Public Sector Banks (PSBs) in India\">Governance Issues in Public Sector Banks (PSBs) in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#PJ_Nayak_Committee_on_Governance_of_Bank_Boards\" title=\"PJ Nayak Committee on Governance of Bank Boards\">PJ Nayak Committee on Governance of Bank Boards<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Objectives_of_PJ_Nayak_Committee\" title=\"Objectives of PJ Nayak Committee\">Objectives of PJ Nayak Committee<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Recommendations_of_PJ_Nayak_Committee\" title=\"Recommendations of PJ Nayak Committee\">Recommendations of PJ Nayak Committee<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Key_Governance_Reforms_in_Banks_in_India\" title=\"Key Governance Reforms in Banks in India\">Key Governance Reforms in Banks in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Bank_Board_Bureau_BBB\" title=\"Bank Board Bureau (BBB)\">Bank Board Bureau (BBB)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Functions_of_Bank_Board_Bureau_BBB\" title=\"Functions of Bank Board Bureau (BBB)\">Functions of Bank Board Bureau (BBB)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Arguments_Against_Bank_Board_Bureau_BBB\" title=\"Arguments Against Bank Board Bureau (BBB)\">Arguments Against Bank Board Bureau (BBB)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Arguments_in_Favour_of_Bank_Board_Bureau_BBB\" title=\"Arguments in Favour of Bank Board Bureau (BBB)\">Arguments in Favour of Bank Board Bureau (BBB)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Financial_Services_Institutions_Bureau_FSIB\" title=\"Financial Services Institutions Bureau (FSIB)\">Financial Services Institutions Bureau (FSIB)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#EASE_Reform_Agenda\" title=\"EASE Reform Agenda\">EASE Reform Agenda<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#EASE_10\" title=\"EASE 1.0\">EASE 1.0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#EASE_20\" title=\"EASE 2.0\">EASE 2.0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#EASE_30\" title=\"EASE 3.0\">EASE 3.0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#EASE_40\" title=\"EASE 4.0\">EASE 4.0<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.nextias.com\/blog\/governance-reforms-in-banks\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-6cd943ce7f301b420e5fd3d77fa21fc6\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"Governance_Issues_in_Public_Sector_Banks_PSBs_in_India\"><\/span><strong>Governance Issues in Public Sector Banks (PSBs) in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Public Sector Banks (PSBs) in India are plagued with several governance issues which make Governance reforms in Banks in India necessary. The RBI Committee on Governance of Bank Boards highlighted some major governance issues in the PSBs:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Concentrate more on tactical issues rather than strategy\/risk.<\/li>\n\n\n\n<li>Board deliberations are driven from the point of view of compliance rather than business economics.<\/li>\n\n\n\n<li>A general absence of a focussed approach towards the resolution of the problem of NPAs.<\/li>\n\n\n\n<li>Lack of design of risk mitigation mechanisms.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-f0a674642049652161ed8b39bff3c0b3\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"PJ_Nayak_Committee_on_Governance_of_Bank_Boards\"><\/span><strong>PJ Nayak Committee on Governance of Bank Boards<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>PJ Nayak Committee<\/strong> was constituted as a step towards governance reforms in banks in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-60eb4f673aa4c456eae9aac0cdd9026c\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"Objectives_of_PJ_Nayak_Committee\"><\/span><strong>Objectives of PJ Nayak Committee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The P. J. Nayak Committee was constituted by the RBI with the following two major objectives:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To review the governance of the Board of Banks in India, and<\/li>\n\n\n\n<li>To make recommendations regarding corporate governance in PSBs.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-2ed98520d5776102cd23367a0f93534e\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"Recommendations_of_PJ_Nayak_Committee\"><\/span><strong>Recommendations of PJ Nayak Committee<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The committee submitted its report on 12th May 2014 and made the following main recommendations:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Repealing of Some Laws:<\/strong> Scrapping and removal of Bank Nationalisation Acts, SBI Act and SBI (Subsidiary Banks) Act.<\/li>\n\n\n\n<li><strong>Establishment of Bank Investment Company (BIC):<\/strong> It recommended the formation of a Bank Investment Company (BIC) under the Companies Act 2013 as a core investment company\n<ul class=\"wp-block-list\">\n<li>The Central Government would transfer its shares in the PSBs to the BIC.<\/li>\n\n\n\n<li>The BIC would become the holding company of the PSBs, and banks would become its subsidiary companies.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Establishment of Bank Boards Bureau (BBB):<\/strong> It also recommended the establishment of a Bank Boards Bureau (BBB).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-66dc2f5bd703ad4999f4e47814ab0e83\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"Key_Governance_Reforms_in_Banks_in_India\"><\/span><strong>Key Governance Reforms in Banks in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some of the key initiatives taken for Governance Reforms in Banks in India include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Establishment of a Bank Board Bureau (BBB).<\/li>\n\n\n\n<li>EASE Reform Agenda<\/li>\n<\/ul>\n\n\n\n<p>These two reforms have been explained in detail in the sections that follow.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-1938a7a6d30422611c57f1011cd25eaa\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"Bank_Board_Bureau_BBB\"><\/span><strong>Bank Board Bureau (BBB)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The government approved the constitution of the Bank Boards Bureau (BBB) in 2016 as a body to make recommendations for appointment of Non-Executive Chairpersons and Full-Time Directors of Public Sector Banks (PSBs) and state-owned financial institutions.<\/li>\n\n\n\n<li>It is an autonomous recommendatory body.<\/li>\n\n\n\n<li>As per the Right to Information Act, 2005, the Bank Board Bureau (BBB) is a public authority.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-de6e43baae7f563d80609178f7d045c3\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"Functions_of_Bank_Board_Bureau_BBB\"><\/span><strong>Functions of Bank Board Bureau (BBB)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The major functions of Bank Board Bureau (BBB) include the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>To recommend personnel for appointment as directors in government-owned insurance companies.\n<ul class=\"wp-block-list\">\n<li><strong>Note:<\/strong> The Union Ministry of Finance in consultation with the Prime Minister\u2019s Office takes the final decision on the appointments.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>To engage with the Board of Directors (BoDs) of the Public Sector Banks (PSBs) to formulate appropriate strategies for their growth and development.<\/li>\n\n\n\n<li>To improve corporate governance at public sector banks, building capacities, etc.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-85b02c6432951c6ff925fd6a264e8955\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"Arguments_Against_Bank_Board_Bureau_BBB\"><\/span><strong>Arguments Against Bank Board Bureau (BBB)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>As per the Nayak committee recommendations, all banks will run only with \u2018profit-motive\u2019, no one will setup branches in villages and it would be detrimental to financial inclusion.<\/li>\n\n\n\n<li>Most of the banking crises in recent times have been because of banks and financial conglomerates outside Government control.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-23b6905031a86ff8a0bec0a2a12b4af5\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"Arguments_in_Favour_of_Bank_Board_Bureau_BBB\"><\/span><strong>Arguments in Favour of Bank Board Bureau (BBB)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>More professionalism in decision making where bad assets are on the rise and the need for capital is essential.<\/li>\n\n\n\n<li>The need for capital infusion in PSBs would be reduced.<\/li>\n\n\n\n<li>Enhanced quality of directors in the bank would improve the governance and accountability of independent directors in decision-making.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-3bf8e7f3db6c9d416d7d7a92a827a6c5\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"Financial_Services_Institutions_Bureau_FSIB\"><\/span><strong>Financial Services Institutions Bureau (FSIB)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <strong>Bank Board Bureau (BBB), <\/strong>established in 2016 as an advisory body to improve the governance and management of public sector banks in India, has now been replaced by the <strong>Financial Services Institutions Bureau (FSIB).<\/strong><\/li>\n\n\n\n<li>The<strong> Financial Services Institutions Bureau (FISB)<\/strong> is intended to build on<strong> Bank Board Bureau (BBB)\u2019s<\/strong> efforts but with a broader mandate and enhanced powers.<\/li>\n\n\n\n<li>It will not only identify and recommend suitable candidates for leadership positions in public sector banks, insurance companies, and financial institutions but will also undertake a range of tasks to enhance governance and efficiency in India\u2019s financial sector.<\/li>\n\n\n\n<li>FSIB\u2019s role encompasses leadership training, performance evaluations, and the creation of a pipeline of future leaders in the sector.<\/li>\n\n\n\n<li>This transition from BBB to FSIB reflects the government\u2019s approach to streamlining financial oversight and management, helping to strengthen public-sector financial institutions.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-797f6ba928f83b14aea09f538705e0f6\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"EASE_Reform_Agenda\"><\/span><strong>EASE Reform Agenda<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EASE Reform Agenda is a common agenda for <strong>governance reforms in banks in India<\/strong>.<\/li>\n\n\n\n<li>It is aimed at institutionalising CLEAN and SMART banking.<\/li>\n\n\n\n<li>It was launched in January 2018.<\/li>\n\n\n\n<li>It was commissioned through the Indian Banks\u2019 Association and authored by Boston Consulting Group.<\/li>\n\n\n\n<li>It was launched in 4 stages, the latest one being EASE 4.0.<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"463\" height=\"320\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking.png\" alt=\"clean banking\" class=\"wp-image-9844\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking.png 463w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking-373x258.png 373w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking-218x150.png 218w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking-100x70.png 100w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/clean-banking-150x104.png 150w\" sizes=\"auto, (max-width: 463px) 100vw, 463px\" \/><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"382\" height=\"286\" src=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking.png\" alt=\"smart banking\" class=\"wp-image-9845\" style=\"width:466px;height:auto\" srcset=\"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking.png 382w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking-345x258.png 345w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking-80x60.png 80w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking-265x198.png 265w, https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/blog\/uploads\/2024\/07\/smart-banking-150x112.png 150w\" sizes=\"auto, (max-width: 382px) 100vw, 382px\" \/><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-3823e9a4b608c093dd7a3d5e22f473ef\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"EASE_10\"><\/span><strong>EASE 1.0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The EASE 1.0 report showed significant improvement in PSB performance in resolution of <a href=\"https:\/\/www.nextias.com\/blog\/non-performing-assets-npas\/\" data-type=\"link\" data-id=\"https:\/\/www.nextias.com\/blog\/non-performing-assets-npas\/\"><strong>Non-Performing Assets (NPAs)<\/strong><\/a> transparently.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-8350119eef82716c126cf853de55f22c\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"EASE_20\"><\/span><strong>EASE 2.0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>EASE 2.0 was built on the foundation of EASE 1.0 and introduced new reform Action Points across six themes to including responsible Banking; Customer Responsiveness; Credit Off-take, PSBs as UdyamiMitra (SIDBI portal for credit management of MSMEs); Financial Inclusion &amp; Digitalisation.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-eadec3dfdee9985620a5e403d667b930\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"EASE_30\"><\/span><strong>EASE 3.0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>EASE 3.0 seeks to enhance ease of banking in all customer experiences, using technology viz. Dial-a-loan and PSBloansin59minutes.com, Partnerships with FinTechs and E-commerce companies, Credit@click, Tech-enabled agriculture lending, EASE Banking Outlets etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-text-color has-link-color wp-elements-c2a9e97abaecbe66492089fa1971f97a\" style=\"color:#ff6a00\"><span class=\"ez-toc-section\" id=\"EASE_40\"><\/span><strong>EASE 4.0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>EASE 4.0 commits the Public Sector Banks (PSBs) to ensure tech-enabled, simplified and collaborative banking to further the agenda of customer-centric digital transformation.<\/li>\n\n\n\n<li>The themes in EASE 4.0 include 24\u00d77 Banking, Focus on North-East, Leveraging Fintech Sector, Export Promotion, Digital Loans to Agricultural Sector etc.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-text-color has-link-color wp-elements-d0adc4bd9eb2e9b9b187dc32f0e06642\" style=\"color:#015aa7\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Governance Reforms in Banks in India<\/strong> are critical for ensuring the stability, efficiency, and integrity of the financial system. While significant progress has been made, continuous efforts are required to address emerging challenges and enhance governance standards further. By fostering a culture of transparency, accountability, and risk management, Indian banks can build a robust financial system that supports sustainable economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Governance Reforms in Banks in India have been an important part of Banking Sector Reforms in India.<\/p>\n","protected":false},"author":9,"featured_media":9846,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[62],"tags":[72],"class_list":["post-9832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-economy","tag-gs-3"],"_links":{"self":[{"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/posts\/9832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/comments?post=9832"}],"version-history":[{"count":6,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/posts\/9832\/revisions"}],"predecessor-version":[{"id":13018,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/posts\/9832\/revisions\/13018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/media\/9846"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/media?parent=9832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/categories?post=9832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/blog\/wp-json\/wp\/v2\/tags?post=9832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}