Finance & economics | Credible

India’s once-troubled banks are generating huge profits

What lies behind the unlikely turnaround?

2A70H1A A bank teller at a tiny Canara Bank branch in the Old Port of Mangalore, Karnataka, India, looks out from behind his counter through a broken window
Image: Alamy
|Mumbai

People looking for tips on how to run a bank do not often head to Mumbai, and for good reason. On May 2nd India’s Supreme Court ruled that the fraud-investigation office could prosecute auditors for their role in the collapse in 2018 of an infrastructure-finance firm backed by state banks. Last year four bosses at Indian Bank, a state lender, were jailed for fraud. Prosecutions of those at three other banks are grinding through the country’s courts.

This article appeared in the Finance & economics section of the print edition under the headline “Credible ”

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