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Raghuram Rajan

Full Circle

A study of recent bank failures would show that bank NPAs were a consequence of the lending of funds beyond the repaying capacity of borrowers. Most of such lending was motivated; the creditworthiness of the borrower was overestimated for extraneous considerations.

Mending manifestos

Irrespective of which party comes to power, the veritable absence of jobs will be the ticking time bomb and, with agriculture brought to its knees, Bharat will no long come to the rescue of India, as it has done in the past.