It took just 24 hours for politics and optics to trump economics and common sense. The biggest lender, State Bank of India, has seen almost 10% of its loan book turn sour. State Bank of India’s new CEO, Rajnish Kumar, says he doesn’t mind haircuts but doesn’t want to go bald. Latest haircut fashion for Indian bankersA better approach would have been to dismantle the two halfway houses created before the 2016 bankruptcy law kicked in. Rather than privately haggling over haircuts, let promoters present competitive bids for troubled companies in a formal bankruptcy process.

Source: Mint November 24, 2017 04:18 UTC