Banking Crisis News
In many ways the Modi Sarkar 2.0 shouldn’t have had the blood, sweat and tears of the most vulnerable people it is meant to serve.
Nobel laureate Abhijit Banerjee on Tuesday flagged concerns about the banking crisis in India and called for aggressive changes to deal with the situation
A year after PNB fraud: Lessons learnt from Nirav Modi episode, but some questions still elude answers
A year after this shocker, the key perpetrators of the case—Modi and Choksi—are still on the run.
Comptroller and Auditor General Rajiv Mehrishi questions RBI's accountability over NPA crisis in banks
The major cause of the current banking crisis is a huge asset-liability mismatch, but nobody is talking about this, there is a lack of public policy debate, Mehrishi said
Rajan, who had as the chief economist at IMF warned of impending financial crisis of 2008, in a note to a parliamentary committee warned against ambitious credit targets and loan waivers, saying that they could be the sources of next banking crisis.
The Great Indian NPA Mess: Bad loans can snowball into banking crisis; Jaitley's solution has political overtones
NPAs on the other hand, have been growing. The problem was that banks did not have the capacity to assess infrastructure projects which were much bigger now.
Of the gross NPAs, the public sector banks accounted for Rs 7.77 lakh crore.
The banking sector in India is getting 'privatised' on its own, even though the government continues to own 21 public sector banks.
If the elections throw up a hung Parliament, economic uncertainty will only aggravate. This will increase the pain in the banking system.
JPMorgan Chase & Co said it routinely overstated the quality of mortgages it was selling to investors, and it agreed to pay $13 billion to settle related charges with the US government, federal officials said on Tuesday.
Both banks and government seem able to get the RBI to do what they want. Banks are captive to the government, and the regulator is bending over backwards to oblige loss-making banks. The next crisis will thus be in the banking system.
Cypriots get their first chance to access their savings in almost two weeks when the country's banks reopen today albeit with strict restrictions on transactions after being closed due to the country's acute financial crisis.