At Axis Bank and Yes Bank, it appears that a single auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore.
The single-minded focus on GDP growth ignores the low income and, consequently, poor demand potential of the bulk of India’s population, downplaying the ill effects of poor policymaking.
While the bank has denied rumours of a potential merger, what issues need to be considered? The bank’s operations and the state of its loans needs to be minutely examined.
While a hue and cry was raised by economists when the government gave oil subsidies, they are all mum now that petroleum taxes have been raised sharply.
Unusual citations in the survey could indicate the awkward situation of the chief economic adviser, in the face of interference by the finance minister or even the prime minister’s office.