Re:India’s banking system is flirting with a Lehman moment
by kc10 on Saturday November 10, 2018 @02:29PM
(#18423023)
> Unfortunately the current government, the first in many years that is actually taking some decisions to get the ship in working order
Well, the current government did its part in letting the tycoons, who took large loans, get out of the country. The currency ban was another stupid mistake (source:https://www.nytimes.com/2018/08/30/world/asia/modi-india-rup...) that led to chaos and people lost trust in the banking system. They don't know if they will easy access to their money in the banks with the cash withdrawal limits and ATM issues.
If people lose trust and don't deposit the money, eventually the whole system would collapse.
Well, the current government did its part in letting the tycoons, who took large loans, get out of the country. The currency ban was another stupid mistake (source:https://www.nytimes.com/2018/08/30/world/asia/modi-india-rup...) that led to chaos and people lost trust in the banking system. They don't know if they will easy access to their money in the banks with the cash withdrawal limits and ATM issues.
If people lose trust and don't deposit the money, eventually the whole system would collapse.