Persistent negative growth in rural wages and soaring corporate profits accompanied by job and wage cuts demonstrate a clear disconnect between growth/profits and wellbeing of ordinary Indians

Private wealth creators are solely responsible for India's banking stress; increasingly fleeing India with their wealth and bank loans, and those making huge profits are doing so by cutting jobs and wages

Future may face liquidation if the deal, already mired in legal wrangling, falls through and banks are actively discussing an alternate one-time restructuring option

India needs to collect and declare credible data on stressed assets, identify sectors and companies where these are accumulated and be transparent in insolvency resolution before jumping to a new mechanism

RBI's database, reports and other evidence show India is credit surplus; large industrial houses have high debt stress, and that easy credit poses serious macro-financial risks to the economy

At 21% recovery, IBC has performed worse than UPA-era debt recovery mechanisms panned for inefficiencies. The idea of a bad bank is also likely to fail if political interference and poor bank governance continue

Little attention to direct income support, health and education deprivations, and revival of small businesses will keep the demand and production of goods and services depressed in FY22

India has no data on jobs lost and businesses shut; no estimate of how many would have slipped into poverty or how income, health and education inequalities would have risen due to the pandemic. How will the Budget 2021 allocate resources appropriately to revive growth and bring development?

For people to benefit, the budget needs overhauling to create jobs; revive small businesses; address poverty and health and education deprivations. Pursuing the existing paradigm of growth may push GDP and stock markets up without improving the living standards of the vast majority

The government gives guaranteed return to private companies in its business dealings and considers their profit-motive good and desirable. Why the same doesn't hold true for farmers?

Misdirected stimulus that relies heavily on liquidity infusion when demand is depressed and incentivising loan defaults by routinely writing off NPAs threaten financial stability and economic recovery

The solution is to deepen India's bond markets to free the NBFCs from excessive dependence on banks, and make the occasional failures (IL&FS, DHFL) less traumatic for the banking system

The pandemic-led crisis has accelerated an overdue transition to digitalisation in business processes and enhanced efforts to address slow-burning issues such as liquidity management, cash, diversification, and capital

Despite continuous and comprehensive attention to industry, its contribution to income (GDP) and employment didn't touch 25% and 14%, respectively. It is time to give equal, if not more, attention to services and agriculture that consistently contribute the most to income and employment, respectively

Despite the pandemic, the lockdown and the consequent damage done to the economy, there are quick signs of recovery, Financial Services Secretary Debasish Panda said

Bad banks as a concept works efficiently when the domestic debt market is deep and the number of market participants is wide enough to allow sufficient price-discovery and market-making

Two possible scenarios are likely to play out in the Indian mobility landscape of the country - one where normalcy returns by January 2021 and the other where normalcy is restored after June 2021

As per McKinsey's global banking annual review report, the coronavirus pandemic will present a two-stage problem for banks - credit loss and operations challenge - in the months and years to come

Under Digital 2.0, there are also partnerships planned with technology companies and fintech players to offer seamless services

The Reserve Bank of India issued an order with respect to certain incidents of outages in internet banking/mobile banking/payment utilities of the bank over the past two years