Though RBI has been conservative, such banking crises pose risks to broader Indian economy — potential flight of foreign portfolio capital, pressure on rupee, bad news for stock market.
Sitharaman, who is only the second woman defence minister in India's history, is expected to work closely with the Finance Minister to take key industry-related decisions
It’s good that cronyism is being debated robustly. But the much bigger failure of incredibly powerful, rich and successful conglomerates — Adani, Ambani, Tata, Birla — lies in India’s fully brand-free growth.