How economics Nobel winners guided policy on banking crisis
- The subject of banks and financial crisis looks simple but its potential to spark growth or a crisis is immense.
We all know that the non-performing asset (NPA) problem of banks was more irksome than any monsoon failure or any of the other irregularities in the awarding system of natural resources. The reason is simple. The banking system is the fulcrum for growth, which it funds. Everyone who needs money has to go through the financial system, where banks play the pivot.