India is likely to go through its FATF country assessment early next year. Some issues could prove a sticking point, including demonetisation and crackdown on shell firms.
S&P said if an Indian bank got into trouble, the contagion could spread to other banks “perceived to be struggling” with the same problems as failing banks.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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