What will you learn from this book
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Systemic Issues: The book sheds light on the systemic issues plaguing India's banking sector, such as poor governance, regulatory lapses, and political interference.
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Non-Performing Assets (NPAs): Subramanian delves into the phenomenon of NPAs, illustrating how reckless lending practices and wilful defaulters have contributed to the rise in bad loans.
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Corporate Governance: The book highlights instances of corporate governance failures within banks, including cases of fraud, conflict of interest, and nepotism among top executives.
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Regulatory Oversight: Subramanian critiques the regulatory oversight of the Reserve Bank of India (RBI) and other regulatory bodies, pointing out lapses in supervision and enforcement.
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Political Influence: The author discusses how political interference has compromised the autonomy of banks, leading to decisions driven by political considerations rather than financial prudence.
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Crony Capitalism: "The Dirty Dozen" explores the nexus between politicians, businessmen, and bankers, revealing how crony capitalism has distorted lending practices and undermined the banking system's integrity.
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Corporate Insolvency: Subramanian examines the challenges associated with corporate insolvency and the resolution of stressed assets, including delays in the bankruptcy process and inadequate recovery mechanisms.
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Public Sector Banks (PSBs): The book assesses the performance of PSBs, highlighting their inefficiencies, lack of innovation, and susceptibility to political interference compared to private sector banks.
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Risk Management: Subramanian emphasizes the importance of robust risk management practices in banks to prevent the accumulation of toxic assets and ensure financial stability.
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Reforms and Remedies: Finally, the book offers insights into the reforms needed to address the underlying issues in India's banking sector, including strengthening governance, enhancing regulatory oversight, and promoting transparency and accountability.
| Language | English |
|---|---|
| ISBN-10 | 9389109175 |
| ISBN-13 | 9789389109177 |
| No of pages | 318 |
| Font Size | Medium |
| Book Publisher | Pan Macmillan |
| Published Date | 09 Apr 2024 |
About Author
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The sensational rise and shocking downfall of India's twelve largest corporate defaulters. In June 2017, the Reserve Bank of India sent shockwaves through the nation as it disclosed a list of the country’s twelve biggest defaulters who were responsible for approximately a quarter of all bad loans in the Indian banking system. The alarming discovery of the ‘dirty dozen’ pulled back the curtain on the murky landscape of corporate irresponsibility and regulatory neglect, revealing the harsh reality of gross economic disparity, complacent governance and coordinated deceit.
In The Dirty Dozen, business journalist N. Sundaresha Subramanian investigates the cause and impact of India’s chronic bad loan issue. Recording the economic misadventures of Vijay Mallya, Nirav Modi and Jatin Mehta, among others, he lays bare the intricate maze of financial chaos, political plunder and malpractices that ail the country’s corporate landscape. In doing so, he makes an eye-opening diagnosis of the nation’s financial health since liberalization.
In a country where millions struggle for basic sustenance, The Dirty Dozen offers a brave, hard-hitting and much-needed exposé of crooked business moguls who have orchestrated deeply damaging financial manoeuvres and amassed millions, enjoying impunity nonetheless and leaving India’s economy teetering on the edge.