Great Indian banking tragedy

In Pandemonium: The Great Indian Banking Tragedy; bestselling author Tamal Bandyopadhyay takes you in search for the answer. It is a definitive insider story on the rot in India’s banking system – how many promoters easily swapped equity with debt as bank managements looked the other way to protect their balance 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 post-demonetisation easy liquidity and banks’ reluctance to lend; prompting them to make the cardinal sin of borrowing short to lend long. What really ails public sector banks; the backbone of India’s financial system? Is it the government ownership itself; or how this owner actually behaves? And just when many were rooting for privatisation as a way out; powerful bankers such as Chanda Kochhar and Rana Kapoor exposed the soft underbelly of seemingly 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 book is a bird’s-eye view of Indian banking and also a fly-on-wall documentary. A must-read to understand contemporary India’s challenges and economic potential.