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By Vignesh Ganesh, G.J. Advani Law College, Mumbai.
India has been under the grip of a banking crisis since a while now. With State-controlled institutions dotting the financial landscape, a large number of these institutions have a bad loan ratio that is almost twice as bad as their private counterparts. Non-performing assets (NPAs) continue to rise faster, with some banks having NPAs making up for more than ten percent of their advances. Credit growth continues to hit new lows and banks faced with these burdensome assets aren’t very eager to lend. Continue reading