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State Bank of India building in Mumbai | Bloomberg

Edelweiss raises $1.3 billion to profit from an unprecedented bad-loan clean up in India

The company will use the funds to buy and turn around stressed assets
Raghuram Rajan

PMO says RTI plea seeking details of Raghuram Rajan’s report on bad loans is a roving enquiry

Praveen Kumar, under secretary at the PMO, said that the information sought does not come under the definition of information in the RTI Act.
RBI logo

5 reasons why the RBI and Modi govt are at loggerheads

From a banking crisis to interest rates, the RBI has often found itself on opposing sides to the Modi government this year.
A branch of the Punjab National Bank in Mumbai | PTI

Serious lapses by banks are behind bad loans crisis: Central Vigilance Commission

CVC identifies 100 bank frauds to understand and prescribe solutions, so that the systemic failure which led to a surge in NPAs can be addressed.
Rahul Gandhi

In Modi’s India, DeMo meant crony-capitalists converting their black money: Rahul Gandhi

Congress president also alleged that crony capitalists got their Rs 3.16 lakh crore debt written off using public money.

Why Lehman’s Act 3 won’t play in emerging markets

The forces that hastened Lehman’s demise have steadied emerging markets in the last 10 years.
File image of Raghuram Rajan | Tomohiro Ohsumi/Bloomberg

It all began under UPA: Raghuram Rajan gives Modi ammunition against Congress on bad loans

The reckless lending by PSU banks is seen as an outcome of pressure by UPA government to step up credit.

Raghuram Rajan NPA note: Congress legacy or Modi didn’t check bad loan crisis in time?

Former RBI governor Raghuram Rajan in a note to a parliamentary panel said slow decision-making and over-optimism among bankers aggravated the bad loan problem. He also said a large number of these bad loans can be traced to the 2006-2008 period. ThePrint asks- Raghuram Rajan NPA note: Congress legacy or Modi didn’t check bad loan crisis in time? https://www.youtube.com/watch?v=7ZOLJ3Lu490 Utter idiocy to blame previous government for problems of today Praveen Jha Professor, Centre for Economic Studies and Planning, Jawaharlal Nehru University It is utter idiocy to blame the previous government for the problems of today. It is true that animal spirits were unleashed during the UPA’s time and we were indulging in excessive leveraging as if the sun would never set. But any finger-pointing towards the previous government for what we are witnessing today is incorrect. In the last four years, the NPAs have risen from Rs 2 lakh crore to Rs 11 lakh crore. What...
File photo of Prime Minister Narendra Modi | PTI

Biz media supports PM on high growth rate, but Bloomberg differs

The state of the economy continues to be on top of everyone's mind, especially Prime Minister Narendra Modi, who lauded his government's growth achievements.
Men waiting outside shops for work in New Delhi during the demonetisation period in India | Bloomberg

By a 99.3% verdict, India’s cash ban was a farce

RBI's focus on pressing issues like the banking system deserves more attention after two years of cash ban frenzy and counting of old notes.

OnCamera

pakistan

BCCI set to seek World Cup ban on Pakistan: Playing to the gallery or a stand on terror?

The BCCI is being urged to ask the ICC to ban Pakistan from participating in the World Cup cricket tournament for harbouring Jaish-e-Mohammed, which carried out the Pulwama terror attack.

Defence

A CRPF soldier stands guard near the site of suicide bomb attack at Lathepora Awantipora in Pulwama

Home ministry’s air travel facility for central forces won’t replace convoys in Kashmir

After launch of air travel facility for central forces, including CRPF, BSF and NSG, Thursday, ministry official says 'practically impossible to do away with the convoy'.
National Interest

Suicidal Pakistan should know Modi may not be scared of its nuclear button

Pakistan has taken too much of a chance with Pulwama — with the wrong government in India, and at the wrong time.