The Microfinance Review

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Indian Economy and Banking Today: Issues and Concerns


Affiliations
1 Chief Economist, Infomerics Ratings, Delhi, India
2 Political Economy, Programme Coordinator and Research Assistant, Carnegie, India
     

   Subscribe/Renew Journal


An objective examination of India’s macro-economic and banking position in the context of COVID–19 lockdown reveals an unprecedented scale of devastation of income, output and employment. Given the protracted, uneven and uncertain ascent to recovery, this paper highligts the worrisome concerns of mounting global debt, risks to financial stability and the resilience of the financial system. It identifies several critical success factors that could contribute to setting better standards of excellence and achieving global benchmarks in this increasingly networked world.

Keywords

COVID–19, Four Balance Sheet Crisis, Stress Tests, Resilience.
User
Subscription Login to verify subscription
Notifications
Font Size

  • Brenner, M H (1979): “Mortality and the National Economy: A Review, and the Experience of England and Wales, 1936-76”, The Lancet, Vol. 314, No. 8142, pp.568-573.

  • Hemingway, E (1926): The Sun Also Rises, Pan Books, London.

  • International Monetary Fund (2019): India: 2019 Article IV Consultation-Press Release; Staff Report; Staff Statement and Statement by the Executive Director for India, IMF, Washington, DC.

  • International Monetary Fund (2020a): World Economic Outlook: The Great Lockdown, World Economic Outlook Reports, IMF, Washington, DC.

  • International Monetary Fund (2020b): Global Financial Stability Report: Markets in the Time of Covid–19, IMF, Washington, DC.

  • Indian Express(2020): “RBI Opposes Loan Moratorium Extension: Will Hit Credit Discipline”, The Indian Express, 11 October.

  • Lawrence, DH (1932): The Letters Of D.H. Lawrence, William Heinemann Ltd., London.

  • Moneycontrol (2020): PM Modi’s ‘Aatmanirbhar Bharat’ Important Initiative: IMF, 25 September.

  • Renton, A, M Wall and J Lintott (2012): “Economic Growth and Decline in Mortality in DevelopingCountries: An Analysis of the World Bank Development Datasets”, Public Health, Vol. 126, No. 7, pp.551-560.

  • Reserve Bank of India (2019): Handbook of Statistics on Indian Economy, RBI, Mumbai.

  • Reserve Bank of India (2020): Financial Stability Report, RBI, Mumbai, July.

  • Reserve Bank of India (2020): Governor’s Statement, RBI, Mumbai, 9 October.

  • Reserve Bank of India (2020): Monetary Policy Report, RBI, Mumbai, 9 October.

  • Reserve Bank of India (2020): Bank Capital and Monetary Policy Transmission in India, Working Paper No. 12/2020, RBI, Mumbai, 16 October.

  • Sharma, R (2020): “Don’t take India’s Growth for Granted”, Economic Times, 22 April.

  • Sharma, R (2020): “India Unlikely to See Pre-Covid Output Level before March’ 22”, Economic Times, 22 September.

  • Sneader, K and S Singhal (2020): The Future is Not What it Used to be: Thoughts on the Shape of the Next Normal, McKinsey & Company, New York.

  • Sontag, S (1978): Illness as Metaphor, Farrar, Straus and Giroux, New York.

  • Subramanian, A and J Felman (2019): India’s Great Slowdown: What Happened? What’s the Way Out?, CID Faculty Working Paper No. 370, Centerfor International Development, Cambridge.

  • Taleb, N N (2007): The Black Swan: The Impact of the Highly Improbable, Random House.

  • World Bank (2020): Global Economic Prospects, World Bank, Washington, DC.

  • World Economic Forum (2020): Remote Working is Not Working for the Poor, The Young and Women, A New Study Finds, World Economic Forum, Switzerland.


Abstract Views: 384

PDF Views: 0




  • Indian Economy and Banking Today: Issues and Concerns

Abstract Views: 384  |  PDF Views: 0

Authors

Manoranjan Sharma
Chief Economist, Infomerics Ratings, Delhi, India
Upasana Sharma
Political Economy, Programme Coordinator and Research Assistant, Carnegie, India

Abstract


An objective examination of India’s macro-economic and banking position in the context of COVID–19 lockdown reveals an unprecedented scale of devastation of income, output and employment. Given the protracted, uneven and uncertain ascent to recovery, this paper highligts the worrisome concerns of mounting global debt, risks to financial stability and the resilience of the financial system. It identifies several critical success factors that could contribute to setting better standards of excellence and achieving global benchmarks in this increasingly networked world.

Keywords


COVID–19, Four Balance Sheet Crisis, Stress Tests, Resilience.

References