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A very political banking crisis

Mihir S SharmaYou’d think that economists would be happy that, for once, everyone is talking about factor markets. Well, more precisely, they’re talking about the conditions attached to capital availability in India — who gets bank loans and why.After all, economists have complained for decades that factor markets in India — land, labour and capital — are so antiquated and restrictive that they have held back economic growth and poverty reduction. Yet the controversy about non-performing assets and bad loans — a controversy that looks close to being upgraded to a …
Source: Business Standard