Odd reading on Indian economy

“By FY18, NPAs in the Indian banking system stood at Rs 10.35lakh crore or 9.3% of all advances and loans. 85% of these related to PSBs.While some of these loans reflected bad commercial decisions; some reflectedulterior motives – attributable to the decision makers themselves, or thepersons at whose behest they acted.”

Importantly, waiving of interest is an issue in distributive policy, beyond the purview of banks, and clearly in the domain of the government. Note that when the government decided to waive farm loans, it bore the burden by itself, did not pass it on to banks. Similarly in this case too, if some concession has to be accorded to borrowers, the cost has to be borne by the government.

At the Congress session, Naoroji declared: “Whether I am a Hindu, a Muhammadan, a Parsi, a Christian, or of any other creed, I am above all an Indian. Our country is India, our nationality is Indian."