Language: English
Release Date: July 24,2020
Genre: Finance
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Author(s):Urjit Patel,Former Governor of the Reserve Bank of India
Short Description:All of us love to spend. But before we can do that, we have to have earned or saved some money. Only sovereigns don't have to: they can print money, or borrow; in our country, where they own banks, they can use our deposits to lend and splurge for goals that may not always be economic in nature.
All of us love to spend. But before we can do that, we have to have earned or saved some money. Only sovereigns don't have to: they can print money, or borrow; in our country, where they own banks, they can use our deposits to lend and splurge for goals that may not always be economic in nature. Many rulers have succumbed to the temptation, with dire results - inflation, debased currency, payments crises, bankrupt banks, economic stagnation, loss of public confidence. After centuries of ruinous experiences, some governments learnt, others haven't, to control themselves, create self-governing Central banks and let them manage money and regulate banks. Sometime in 2015, news of unsustainable bad debts (non-performing assets or NPAs) in the Indian banking sector started to first trickle out, and then became a flood. In the forefront were some of India's largest government banks, and a series of tycoons who were running their empires on unpaid debts. The banks' problems landed on the table of Urjit Patel when he became Governor of Reserve Bank of India in September 2016. Based on thirty years of macroeconomic experience, he worked out the '9R' strategy which would save our savings, rescue our banks and protect them from unscrupulous racketeers. In this book, he explains the problem and how it blew up; and how he would have resolved it if he had not been prevented.Source:AmazonRead Full Description
Hot Updates
Former RBI governor Patel pens book on dealing with NPA issueBy:The Hindu - 05 July,2020
Urjit Patel Book On Indian Banking’s NPA Crisis To Release In JulyBy:BloombergQuint - 05 July,2020
Former RBI Governor’s book makes shocking claimsBy:News Today - 05 July,2020
Former RBI governor Patel pens book on dealing with NPA issueBy:The Hindu - 05 July,2020 Urjit Patel Book On Indian Banking’s NPA Crisis To Release In JulyBy:BloombergQuint - 05 July,2020 Former RBI Governor’s book makes shocking claimsBy:News Today - 05 July,2020More News(Before Release)