Bleeding banks need more than a bandage

Wednesday, June 21, 2017
NPAs affect circulation of funds. Source: Pixabay

The banking industry is in shambles thanks to high level of NPAs, especially in public banks. According to a report by the Public Finance Public Accountability Collective (PFPAC), the NPAs rose from a mere Rs 50,517 crores in 2007 to Rs 5,41,763 crores in 2016. In a period of six months between September 2015 and March 2016 the amount of NPAs shot up by a staggering 46 percent. That they now stand at Rs 10 lakh crore underscores the economic...

Rise of Fraud Inc

Wednesday, November 27, 2013
Devil wears the suit.

The CBI FIR against Hindalco group chairman Kumar Mangalam Birla in the coalgate scam riled businessmen and politicians alike. Many voices said that such a move can affect the morale of our industrialists, who may leave the country along with their investments. That such cases are increasingly being reported seemed to have been lost on them. Earlier, Anil Ambani and Videocon's promoter Venugopal Dhoot were grilled in the 2G Spectrum scam. The...

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