Book: The Inside Story of Indian Banking
Author: Sandip Sen
Publisher: Rupa Publications
The Inside Story of Indian Banking by Sandip Sen is an account of the
Indian banking system that traces its journey from the pre-independence era to
the world just recovering from a pandemic. In the book, the author interacts
with over 5 dozen bankers, lawyers, and journalists to understand the issues
that plague the system and the reforms that have been undertaken to get out of
the issues. As it brings to fore the story behind the NPA scams that came to
light, and how those came along, the book also details seven key steps needed
to reform a sinking industry and open up credit lines without having to resort
to mass privatization, which is anyway difficult with bleeding balance sheets. A
tell-all story of Indian banking, this book is a must-read for anyone wanting
to understand the system that holds our money.
The book is a very well-researched and data focused as it traces the journey of the Indian Banking system. From the times when it was completely unregulated to the current regulatory regime, and everything in between, it is an interesting read for anyone who is interested in the story of how our economy functions. The book is a chronological account, though it also takes up the explanation of points through cases well-documented in the news, which make it an even interesting read. While it has data and numbers, it is not a boring non-fiction read, but an enlightening study of the planned vs impacted results of various policies. Sandip has unabashedly discussed both sides of many policy measures such as mergers of PSBs, demonetization, IBC etc. The last chapter that details the possible solution is a very apt closure as it fits in with the overall theme of the book, and it is not just a narrative of the problems, but a well-discussed and analyzed study that brings out solutions as well. The narration is lively, and while it tends to stretch out in some places, it makes it up with the presence of graphs and tables. The chapter division is quite apt and makes the entire theme come together, specially the one about the PSB mergers.
A definite recommendation from me if you are in the financial sector, or have an interest in public policy, do grab this one. It scores a 4.06/5 for me.
Get a copy of the book here.
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