ABOUT THE BOOK (INR595, 288PP)
India’s banking story—the good, the bad and the ugly
Vijay Mallya, Nirav Modi, Chanda Kochhar, Rana Kapoor and others who have managed to game the banking industry, with possible assistance from bankers, auditors, regulators, bureaucrats and politicians, are all here. The sordid saga of banking frauds and defaults has, after all, become the mainstay of news today. But there’s more to the Indian banking story than just white-collared crime. There are reformist laws and legal tussles, the slowing down of credit lines, the mergers of banks, the safety of deposits, and now the Corona lockdown, all adding flavour to the brew.
In The Inside Story of Indian Banking, journalist and author Sandip Sen deep dives into data and interacts with over 60 bankers, lawyers, analysts and professionals to present a thrilling account of deep-rooted corruption and path-breaking reforms in India’s banking industry. He maps the trajectory of Indian banking—from its chaotic beginnings under colonial rule to bank nationalization in 1969, from banking post liberalization to the present-day mergers, and a crisis where frauds balloon as laws are tightened. The book not only highlights the deep-rooted problems, but also offers solutions from bankers themselves.
A tell-all story of Indian banking, this book is a must-read for anyone wanting to understand the system that holds our money.
ABOUT THE AUTHOR
SANDIP SENis a widely published journalist and author. He started analysing the stock markets in the 1990s when he devised a computerized Weighted Average Share Purchase and Sales (WASPS) module and wrote weekly columns for major business dailies as a freelancer. After 30 years in the energy and manufacturing industry, he switched to full-time journalism in 2009 and has worked as an editor with large media houses like The Indian Express and Delhi Press. He appears regularly on TV discussions on the economy and the environment and has written three books, the latest being India Emerging: From Policy Paralysis to Hyper Economics published in 2019.