An analysis of why crony capitalism persists in the Global South, drawing on Stanford political scientist Stephen Haber's argument that it supplies cheap credit and investment in capital-starved economies. The article also details drawbacks, including resource misallocation and large bad-loan write-offs in India's public sector banks.
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Economist and activist Prasenjit Bose notes that Indian Scheduled Commercial Banks wrote off nearly INR 10 trillion worth of bad loans in the last five years.
Word for word from the report in Maldives Republic. Open the report
During the 2004-2014 Congress government, for every INR 100 of NPA accumulation in Scheduled Commercial Banks, INR 63.34 was recovered, and only INR 8.62 was written off.
Word for word from the report in Maldives Republic. Open the report
During the 2004-2014 Congress government, for every INR 100 of NPA accumulation in Scheduled Commercial Banks, INR 63.34 was recovered, and only INR 8.62 was written off.
Word for word from the report in Maldives Republic. Open the report
under the Bharatiya Janata Party's rule, only INR 31.65 was recovered for every INR 100 of NPA accumulation, while write-offs increased to INR 39.38, Bose observes.
Word for word from the report in Maldives Republic. Open the report
under the Bharatiya Janata Party's rule, only INR 31.65 was recovered for every INR 100 of NPA accumulation, while write-offs increased to INR 39.38, Bose observes.
Word for word from the report in Maldives Republic. Open the report
Public Sector Banks accounted for the majority of the write-offs, representing nearly 63% of the total.
Word for word from the report in Maldives Republic. Open the report