The Economist’s 5 stages of grief.
Prologue:



Denial:

🧵 Those who are asking why we are not growing at 15% or 150% - ye koi Ferrari thodi hai ki accelerator press kiya aur gaadi nikal padi. Even a small increase in GDP growth rate requires massive effort on the ground. Thread on why we have done well and what me must do: a) cleaning up of the banking system (took a decade) - but remember, it is easy to slide back, so constant vigilance is required.

That’s how long it takes to clean the financial system if you have the right intent. The upwards and downwards trajectory narrates to us thousands of unstated stories without reading anything except this chart. These are only dates of recognising that loans couldn’t be recovered. To really figure when the rot happened, you need to see when the loans were given and what was their term maturity. For SBI and associates 76% of all loans given were with a maturity of 1 year or more. See the data from 2012 to get a sense of the era of free money, and see the data with the fattest numbers - 1 to 3 years maturity. These are the loans which soured from 2013 to 2016 and beyond. As they say jokingly, lending is an unskilled job. Source ~RBI data.

Gormint today 😂 HR telling employees to travel before 1st July