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Here's a list of things that happened when a big bank was allowed to fail back in 1960 (Palai Central Bank)

1. A run on the bank.

Without a withdrawal limit in place, depositors rushed to withdraw their savings once they figured the bank was in trouble
2. The ensuing panic spreads to other banks as well.
3. RBI was castigated in the press, parliament and in the streets for not doing enough
4. India becomes only the second country after the USA to offer Deposit Insurance in a bid to protect the interest of the common man.
5. RBI goes on the back foot

Between 1969 and 1994 RBI issues a grand total of 0 banking licenses. Until in 1994, 10 new banking licenses were issued. Prominent among them, ICICI Bank, HDFC Bank and Axis Bank
So maybe sometimes it's prudent to not let a bank fail? Thoughts and comments welcome :)
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Finshots
@finshots
A Retelling of the #yesbankcrisis in tweets

The year is 2003. RBI issues a new banking license & Yes Bank is born. Meanwhile, Ashok Kapur & Rana Kapoor take charge. The former, calm & Composed. The latter Brash & Aggressive. The Yin & the Yang. They make perfect partners
Tragedy strikes

Ashok Kapur passes away in the 2008 Mumbai terrorist attacks. Rana Kapoor tries to consolidate power. Ashok Kapur's wife stages a boardroom battle. Rana Kapoor refuses to relent. He eventually comes out on top
The Rana Kapoor Era Begins

Aggressive growth is the mantra. The bank tries to find as many corporates who are desperate for a loan and makes them pay top dollar each time they borrow.

More loans, more fee, more interest, more everything. Life's great
Read 15 tweets
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Finshots
@finshots
One tweet summaries of some of the more popular books on investing

1. A Random Walk Down Wall Street: The movement of a stock price resembles the walk of a drunkard and a blindfolded monkey can do a better job at picking stocks than your portfolio manager
2. Intelligent Investor: When companies have hidden potential tucked away deep inside and people fail to notice, it's your time to shine. Buy these bad boys and stay invested for a long time. You'll be rich. Very very rich.
3. One up on wall street: Pay attention to the chicken soup you eat. Pay attention to that diaper brand your baby uses. Pay attention to the telemarketing company with a virtual monopoly. It's when you pay attention to the less glamorous stuff do you get one up on wall street
Read 7 tweets
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Finshots
@finshots
There's been a lot of talk about our story today on the Real Estate bailout. So we want to set the record straight. The bailout isn't something that happened on the fly. Many people saw this coming a long while back. So here's a thread on the real folks that got this one spot on.
Back in July 2015, Ambit Capital published an extensive report on the unravelling of the Real Estate Industry. They wrote- "Prices had already moderated given that lending to residential real estate was drying up and developers were scurrying to sell off their unsold inventory"
Unfortunately for Ambit, as banks stopped lending to the industry. NBFCs took over. The problems plaguing the industry never went away. Instead, they simply resorted to more borrowing to survive on life support. Ambit got castigated for getting this wrong.
Read 11 tweets

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(((Neil))) 👁‍🗨
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Really glad to see the Corbynistas taking the announcement of the @EHRC investigation into #LabourAntisemitism in such good grace..... Oh.
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Fuad Alakbarov ⁠⁠
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Sanjay Srivastava
@hardsci
Here is a list of things I wish Tom Bartlett (@tebartl) had done better in covering SIPS for this @chronicle article chronicle.com/article/I-Want…
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