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Showing 1-5 of 5 results
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India's banks need more than a bailout
News, Mihir Sharma, Published on 27/10/2017
» India has long been faced with a slow-motion bank crisis.
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India central bank passes buck back to government
News, Mihir Sharma, Published on 04/08/2017
» At their Wednesday meeting, the makers of India's monetary policy cut interest rates only slightly. They would seem to have had little choice -- but also little confidence that a deeper cut would jumpstart the Indian economy.
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India's states will pay for populism
News, Mihir Sharma, Published on 14/07/2017
» Things only seem to get worse for India's farmers. They'd barely recovered from two years of drought when they were hit by the government's decision last autumn to declare 86% of India's currency illegal. They struggled through that, and the consequent crash in prices, in hopes that this year's monsoon would be healthy. And, although forecasters insisted enough rain would fall, an "unexpected dry spell" is now threatening to ruin their summer crop.
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No end in sight to India's slow-motion bank crisis
News, Mihir Sharma, Published on 01/03/2017
» India's slow-moving banking crisis continues to drag on, as ponderous and unstoppable as the state-controlled banking sector itself. A recent study found that the gross "non-performing assets" of state banks rose by 55% in 2016, and 135% in the last two years. They now account for 11% of all state bank loans.
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Cash crunch woes only beginning
News, Mihir Sharma, Published on 06/01/2017
» 'Give me 50 days, friends," Indian Prime Minister Narendra Modi asked citizens after he cancelled 86% of the country's currency notes. After Dec 30, if Indians saw his decision as flawed, he promised to "suffer any punishment". But, he said confidently, if they could bear 50 days of disruption, they would have the "India of their dreams".
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