Be the first to review this product
‘The Reserve Bank of India would like to assure the general public that Indian bankingsystem is safe and stable.’
– RBI Statement, 1 October 2019
Why did India’s central bank have to issue an unprecedented statement to that effect?
In Pandemonium: The Great Indian Banking Tragedy, bestselling author Tamal Bandyopadhyay takes youin search for the answer. It is a definitive insider story on the rot in India’s banking system – how manypromoters easily swapped equity with debt as bank managements looked the other way to protect theirbalance sheets, until the RBI began waging a war against ballooning bad loans. The same troubles quickly
spilled over to India’s mushrooming non-banking financial companies, which were quick to spot the postdemonetisationeasy liquidity and banks’ reluctance to lend, prompting them to make the cardinal sin ofborrowing short to lend long.
What really ails public sector banks, the backbone of India’s financial system? Is it the governmentownership itself, or how this owner actually behaves? And just when many were rooting for privatisationas a way out, powerful bankers such as Chanda Kochhar and Rana Kapoor exposed the soft underbelly ofseemingly more efficient and profitable private banks of India.
A timely and insider look at dramatic forces reshaping banking in Asia’s third-largest economy, this bookis a bird’s-eye view of Indian banking and also a fly-on-wall documentary. A must-read to understandcontemporary India’s challenges and economic potential.
No product review available.
About UsCompany Contact Us FAQ Blog News
Cancellations Returns Delivery International Delivery