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Public Banks: Dressing up for the market
22 January, 2018, C.P. Chandrasekhar
The government’s ambitious plan to recapitalise public sector banks that have recorded losses with resources from the Budget is an attempt to dress them up before taking them to the market.
Banks And Non-Performing Assets
28 November, 2017, Prabhat Patnaik
What exactly constitutes a non-performing asset (NPA) of a bank is not easy to determine. Since banks tend to roll over credit to borrowers, whether the request for such a roll over arises in the normal course of business or owing to a fundamental inability to pay back the loan, is difficult to decide.
Create a Crisis and make it Worse
12 October, 2017, C.P. Chandrasekhar
The government’s proposal to set up an all-powerful entity to solve the NPA problem has serious implications for banks and could leave them vulnerable to, among other things, runs by depositors.
The Emerging Crisis in Real Estate
26 September, 2017, C.P. Chandrasekhar & Jayati Ghosh
The slow down and partial crisis in India’s real estate sector reflects the challenges facing post-reform growth in India.
Economy Plunging Headlong into Recession
16 August, 2017, Prabhat Patnaik
The few days old Volume II of the Economic Survey by Ministry of Finance shows a GVA growth rate much less than that of the previous year, and that too artificially boosted by seasonal variations in non-core sectors. This deceleration is most likely to continue, with growing NPAs and plunging exports, and interest rate cuts will not help in a demand-constrained economy unless the government starts thinking beyond “fiscal rectitude”.
NPAs: All talk and no action
04 August, 2017, C.P. Chandrasekhar
The problem of large NPAs of nationalised banks can be traced to the neoliberal reforms in the financial sector and outside, which prevent large government investments in infrastructure and capital-intensive industries that are imperative for development but too difficult a responsibility for the private sector to shoulder.
Growth in the Time of a Credit Squeeze
01 August, 2017, C.P. Chandrasekhar & Jayati Ghosh
GDP growth figures for the last few years have camouflaged a deceleration in credit growth that has affected all but the retail loans segment quite adversely.
Bad Bank Proposal for India
15 March, 2017, Sabri Oncu
The author’s bad bank proposal for India would be capitalised with zero coupon perpetual bonds the government would issue and would give the country some breathing time so that she can attack and tackle all her other problems.
Wicked Loans and Bad Banks
08 March, 2017, C.P. Chandrasekhar
A trail of defaults is ensuring that the NPA ratio is not stabilising, as the RBI expected it would, once assets misclassified as restructured and standard are recognised as non-performing.
Finance Capital and the Nature of Capitalism in India Today
25 November, 2016, C.P. Chandrasekhar
This article explains how the growing dependence on foreign finance capital has distorted India’s growth. Due to the accumulated presence of foreign capital in the country since liberalisation, it is turning moribund and losing sovereignty.
The Business of Wilful Default
03 August, 2016, C.P. Chandrasekhar
Adventurous lending followed by wilful default that has become more common in recent years, is linked to the change in banking practices and the pursuit of quick profits after liberalization.
The Return to Retail Lending
02 August, 2016, C.P. Chandrasekhar & Jayati Ghosh
After having retreated from retail lending in the years since 2005-06, banks burdened by NPAs in areas like infrastructure seem to be returning to the retail market. How far can this go?
The Real Banking Problem
12 July, 2016, C.P. Chandrasekhar & Jayati Ghosh
Recognizing bad assets and writing them off may not resolve the banking problem, since the new financial order requires banks to lend to those who seem more prone to default.
Bad Loans, Lending Behaviour and Growth
07 June, 2016, C.P. Chandrasekhar & Jayati Ghosh
As interested observers focus on the bad loans, accumulating in the books of India’s commercial banks, the implications it has for lending behaviour and growth are less explored.
The Future of Public Banking
21 August, 2015, C.P. Chandrasekhar
The objective underlying the revival of the recapitalisation of public sector banks is privatisation, which would seriously impact India’s infrastructure development programme.
The Sources of Bank Vulnerability
05 March, 2014, C.P. Chandrasekhar
Higher NPAs in the public sector banks of India is a consequence of the liberalisation agenda pursued by the government rather than the failure of the bank managers.
Burdening Public Banks with Private Losses
30 October, 2012, C.P. Chandrasekhar & Jayati Ghosh
While large bank loans to private investors have been restructured to keep them ‘performing’, the burden of such financing has fallen disproportionately on public sector banks.
How Safe are India's Banks?
30 October, 2012, C.P. Chandrasekhar
The NPA figures on the books of the scheduled commercial banks seem to be gross underestimates given the recent debt restructurings involving a number of large borrowers.
Going after the Little Guys
13 January, 2011, Jayati Ghosh
In order to control their large volume of non-performing assets (most of which are loans made to large corporate houses), several commercial banks in India are selling off their small NPA accounts to private players at a large discount. By doing so, the banks are indirectly putting great pressure on the small scale producers, the middle class families and other similar groups for repayment instead of the large defaulters.
Globalised Fraud, not Global Trust
29 July, 2004, C.P. Chandrasekhar
On July 26, hapless depositors in ''new-generation'' Global Trust Bank (GTB) discovered from the tickers at the bottom of their television screens that their money was no longer their own - at least for the next three months.

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