India’s once-troubled banks are generating huge profits
What lies behind the unlikely turnaround?
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 ”
Finance & economics May 13th 2023
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- The meaty mystery at the heart of China’s economic growth
- India’s once-troubled banks are generating huge profits
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- A new world order seeks to prioritise security and climate change
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