Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
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Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
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So - what is a "bad loan" or "NPA" in India and why are our Indian bankers so hell-bent on protecting people who have gone bad-loan or NPA?
A "bad loan" or "NPA" in India is defined as the sum product of systematic collusion between the Three Bs (Banker, Borrower, Bureaucrat) working in synchronisation with each other to shaft the other Indians.
At one time, bad loans/NPAs could be paid back to some extent as the rupee kept going weaker and weaker, generating more rupees for forex stacked abroad, but the real estate crash as well as stronger rupee put an end to that.
Now that's not possible and more than anything else, the concept of an escape route in the hands of the bankers has been removed, to the point that a very senior person in the finance line was telling me how the buzz is that there is no value in post-retirement posts in the loan re-structuring game anymore.
So why would our Bankers object to new rules imposed post Nirav Modi wherein they now have the powers to start recovery proceedings as per a set sequence?
Samjha karo. What will be the value of a job in banking if everything is done as per a system? Who will bring gifts for wedding of their children any more?
Amazing, this attitude by the caretakers of our money!!
its shareholders
high time Ms. Chanda Kochar steps down from the post and facilitate a transparent enquiry. When SC has ruled that the acts of top management in pvt. Banks also attract the Prevention of Corruption Act, why CVC is keeping quiet. What prevents CBI in taking swift actions. This will be a test case for NDA Govt. to prove what it means by transparency and good governance.
Bec as ceo she can use her office to whitewash and close the investigation-money,influence of third parties,etc.