India’s Political Banking System – WSJ

0
160
DOWNLOAD THE APP



How can India stop crooked businessmen from defrauding its banks? The government thinks the answer lies in making it easier to punish those who cheat and escape overseas. The real problem: India’s largely state-owned banking system takes orders from politicians rather than allocating capital efficiently based on a prudent assessment of risk.

India’s latest banking scandal involves a flamboyant diamond merchant with global ambitions. In January, 47-year-old Nirav Modi hotfooted it from Mumbai to an unknown destination weeks…



Source link

READ  The 'Everything Handmade' Trend Will Curb Job Losses
GET ACCESS TO FREE TRAINING NOW

LEAVE A REPLY

Please enter your comment!
Please enter your name here