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Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

Indian banking system will be among last to recover due to NPA overhang, S&P says

The rating agency says India, Mexico, and South Africa are among the banking systems that will be slower to recover to 2019 levels — likely beyond 2023.
PMC Bank depositors protest against the bank in New Delhi on 23 September 2020. | Photo: ANI

Net worth wiped out, withdrawal restrictions, no resolution — PMC Bank’s worse off 1 year on

RBI’s process to fix the bank hasn’t yielded any results. The bank’s net worth is wiped out and its depositors are struggling with restrictions on withdrawal.
File photo of former central bankers Raghuram Rajan and Viral Acharya. | Photo: Tomohiro Ohsumi/Jin Lee/Bloomberg

Modi govt’s reform of public banks a still-born effort, say Raghuram Rajan & Viral Acharya

Loan losses from the pandemic may be too huge for the government to pay, says a new paper authored by the former RBI governor and former RBI deputy governor.
The Supreme Court in New Delhi| Photo: Manisha Mondal | ThePrint

SC extends interim order on loan moratorium to 28 September, says keen to waive interest

Supreme Court gives Modi govt over 2 more weeks to decide on waiver of interest for moratorium period after considering interest of all classes of creditors & all sectors of economy.
Yes Bank

With 25 crore covered, KYC data of nearly a fifth of India’s population is digital

The process, which started in early 2017, took nearly 2 years to reach the 10-crore mark. But this more than doubled over the last 17 months to touch 25 crore now.
A man pushes a cart past the Imperial, a twin-tower residential skyscraper complex developed by S D Corp. | Dhiraj Singh |Bloomberg

How to unearth ‘zombies’ in the Indian corporate sector

As the Indian economy recovers, we should be wary of zombie firms that are using the pandemic as an excuse to continue hanging on.
A man walks past the Reserve Bank of India headquarters in Mumbai | Shashank Parade/ PTI

Hijacking bankers to catch swindlers won’t work, RBI needs more supervision

India’s banks need long-pending governance reforms. Efforts to prevent corporate plunder will unfairly disadvantage the likes of 'glocal' banks such as Citigroup and HSBC.
Illustration: Soham Sen/ThePrint

Why Modi govt has made a good call to move out of all non-strategic sectors

Government participation in the market should be the exception, and not the norm. The latest bid to disinvest is a step in the right direction.
HDFC chairman Deepak Parekh | Photo: Flickr

Indian economy will be booming by next August, worst behind us — HDFC chairman Deepak Parekh

At ThePrint's Off the Cuff, HDFC chairman Deepak Parekh said govt should reduce stakes in state-owned banks to 51% and pursue aggressive asset monetisation & privatisation.
Rupee (Representational image) | Dhiraj Singh | Bloomberg File photo

Allow us to restructure loans but no need for blanket recast, banks tell RBI

The Indian Banks’ Association has written to RBI, saying debt recast needs to be completed by September to prevent fresh bad loan creation.

On Camera

File photo | RIL chairman Mukesh Ambani | Sanjit Das/Bloomberg

Reliance Retail gets $1 billion from Silver Lake for 1.75% stake

Reliance announced on 9 Sept that the California-based private equity firm with stakes in technology-related companies will pay the amount as part of the deal.

Defence

Representational image | ANI

India, China working on Ladakh peace formula — alternate week patrolling, after disengagement

Patrolling in alternate weeks has been the established practice in the Northeast, and has worked well, barring the occasional face-off.
Illustration by Soham Sen | ThePrint

If Modi is a true reformer, he’ll bury Vodafone ghost and campaign on reforms in Bihar

No politician sees economic reform as a vote-catcher; it’s the old, povertarian economy that gets votes. Can Modi bring farm and labour reforms centre-stage?