THE INSIDE STORY OF INDIAN BANKING (HB)

‘Sandip Sen unmasks the
banking mess…The really useful part of the book is the latter section, which
deals with the solution. In all, seven [of these] have been listed.’- The
Tribune   India’s banking story—the
good, the bad and the ugly   Vijay
Mallya, Nirav Modi, Chanda Kochhar, Rana Kapoor and others who have managed
to game the banking industry, with possible assistance from bankers,
auditors, regulators, bureaucrats and politicians, are all here. The sordid
saga of banking frauds and defaults has, after all, become the mainstay of
news today. But there’s more to the Indian banking story than just
white-collared crime. There are reformist laws and legal tussles, the slowing
down of credit lines, the mergers of banks, the safety of deposits, and now
the Corona lockdown, all adding flavour to the brew. In The Inside Story of
Indian Banking, journalist and author Sandip Sen deep dives into data and
interacts with over 60 bankers, lawyers, analysts and professionals to
present a thrilling account of deep-rooted corruption and path-breaking
reforms in India’s banking industry. He maps the trajectory of Indian
banking—from its chaotic beginnings under colonial rule to bank nationalization
in 1969, from banking post liberalization to the present-day mergers, and a
crisis where frauds balloon as laws are tightened. The book not only
highlights the deep-rooted problems, but also offers solutions from bankers
themselves. It details seven key steps needed to reform a sinking industry
and open up credit lines without having to resort to mass privatization,
which is anyway difficult with bleeding balance sheets.   A tell-all story of Indian banking, this
book is a must-read for anyone wanting to understand the system that holds
our money.