''The government's equity will not go below 51 per cent and the PSU banks will ever remain as PSU banks,'' he said and cited the example of SBI to which the government has offered a sum of Rs 10,000 crore as capital for its development. ''If any other PSU bank wanted to raise its capital, the government will come forward to help it do so,'' he added.
Asserting India should not fear about competition or globalisation, he said it was the Western world that had to fear and respect India because Indians have the determination to make it to the top.
''The 21st century is the century of Asia in which India and China are going to be to the dominant players.
''Countries such as Vietnam and China have shown the way.
We should remove the shackles and change the mindset to emerge at the top. If China can do it in five years, we can do it in 10,'' he added.