'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
India has 26 public sector banks, 22 private sector banks and 56 regional rural banks.
Independent market analyst Ambareesh Baliga points out the red flags that retail investors should not have ignored and lists three scenarios -two of these scenarios offer a glimmer of hope to retail shareholders of Yes Bank - that could play out in the coming days.
'It can't be a coincidence that he and his family, uncles and all, vanished from India only days before the scam was discovered.'
'What does the nation get out of the CBI's fabulous infrastructure? Very little that is useful.'
On Monday, RBI announced that 26 entities, including Tata Sons, LIC Housing Finance, Aditya Birla Nuvo, Department of Posts, Reliance Capital, L&T Finance and Bajaj Finserv, applied for grant of bank licences.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
Action against auditors, last of the 276 recommendations of a JPC probing Ketan Parekh scam, is still pending.
A customer wanting to buy a car would have to wait a long time for delivery.
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