bad loans

Chowkidar Hi Chor Hai: Part 1 – A “Sweet” Deal for Nitin Gadkari

Abir Dasgupta / April 10, 2019

This Newsclick exclusive is Part 1 of a three-part series on how the Modi government pushed banks into repeatedly lending to cronies, adding to the bad loan mountain. A company linked to Union Minister Nitin Gadkari allegedly received loans from Bank of Maharashtra in violation of the bank’s own policies and received multiple subsequent loans to prevent the account from becoming an NPA.

India’s corporate debt bomb ticking

Total NPAs reached a whopping Rs 9.5 lakh crore by end March 2018. India’s banking sector, the foundation of our modern economy, is in crisis. A spate of scams has dragged the credibility of India’s biggest private and public sector banks through the mud. Even more dangerous is a Debt Bomb of bad loans that has grown almost 17 times bigger in the past 10 years.

Chowkidar Hi Chor Hai: Part 1 – A “Sweet” Deal for Nitin Gadkari

India’s corporate debt bomb ticking

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