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What was former prime minister Manmohan Singh doing?#BusinessTitBits


The rapid build-up of the giant and unmanageable NPA crisis that India faces today, has been gradually coming out in the open. Between 2006 to 2009 the aggregate loans by banks doubled from Rs.18 lac crores to about Rs.36 lac crores and then increased by yet another 50% to about Rs.54 lac crores by end 2013. By this time, bankers had exhausted their capital, their money was blocked in bad loans, they had no capacity to lend and were themselves headed to bankruptcy since their losses due to bad loans had actually eroded their entire capital. The question is what was the former prime minister Manmohan Singh doing all this while? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.

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