‘Fraud showed us loopholes in banking’. Nagpur News – Times of India

Nagpur: A lot has to be done in the banking sector to address the problem of non-performing assets (NPAs). “There has been fraud that has taught us about the flaws in this industry. However, it is possible to bring about a change in the banking system by learning from such small mistakes and paying attention to the crimes. Tamal BandyopadhyaySenior journalist and author of ‘Pandonium: The Great Indian Banking Tragedy’ at an event organized by Vidarbha Literary Fest (VLF) on Saturday.
Bandyopadhyay has been a keen student of banking for the past 25 years and is an award-winning national business columnist. economist Tejinder Singh RawalDuring an interaction with Bandyopadhyay at the VLF event, Bandyopadhyay said, “There was a need to have a book that covered all aspects of the banking sector. No one else could have done this all-round work of writing about the Indian banking system better than Bandyopadhyay.” ”
VLF Secretary Sachin Jehangirdar shared his opening remarks promoting the importance of such run-up events and how people can contribute. He said, “VLF plays an important role for our city and anyone can come to volunteer or be a part of this initiative. We have more such events planned in the coming months and we appreciate the participation and more book readers joining us in the future.
The discussion revolved around the inside stories in ‘The Great Indian Banking Tragedy’. Sharing an anecdote, Bandyopadhyay said, “The Finance Minister is emphasizing that banks keep an eye on the risks. Fear psychosis is one reason why credit growth isn’t happening because no one wants to be punished.”
Bandyopadhyay also shared various stories he remembered during his journey of writing the book.
Later he interacted with the audience.
The session was a fun conversation between Rawal and Bandyopadhyay where several stories and passages from the book were referenced. Throughout the session, Bandyopadhyay shared various stories that he remembered during his journey to write the book. He was later seen interacting with the audience in an informative Q&A session where he was asked about the Asset Reconstruction Company (ARC), Insolvency and Bankruptcy Code (IBC), updated version and changes in the current banking scenario, the risks involved, and the ease with which People can now conduct banking, etc.
Along with Bandyopadhyay, Divya Lakhera, author of ‘Teachers Shine Like Stars’, a book about empowering teachers and their role in the present world, was also present. The event was hosted by VLF volunteer Aditi Chhajer.