Another Financial Scandal, Growing NPAs and Indian Political-Economy By: Vijay Sardana Are you surprised with PNB Bank - Nirva Modi scandal in Indian banking system? Maybe yes, but I am not. Are you surprised mounting NPAs in Indian Banking system? Maybe yes, but I am not. Are you surprised with declining investments in the corporate sector? Maybe yes, but I am not. Are you surprised with declining exports from India? Maybe yes, but I am not. Barring few business houses may be a handful of them, most cannot be trusted. The author, due to my proximity to various decision-making domains, was witness to many of these developments very closely and also in many cases the first-hand witness. Let us discuss the whole situation based on evidence . 1. List all major companies which are loaded with NPAs, you will find they all were close to some political establishments or political leader a few years ago – during their peak time. 2. From Harshad Mehta t
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