Letter to BS: A $5-trillion economy needs bolder financial leveraging

What has triggered the thinking of RBI is the relentless and mounting non-performing assets and that has clearly influenced the conservative leaning in the paper

The discussion paper by the Reserve Bank of India (RBI) on improved governance of commercial banks, inter alia, puts a palpable stress on the tenure of bank CEOs. This is an old topic. Jamie Dimon is a titan in JPMorgan Chase, one of the largest US banks. He was popular with the Fed and the treasury department. And yet, post the 2008 Wall Street collapse, Dimon had to negotiate a $13 billion deal to settle investigations into mortgage bonds that JPMorgan Chase sold to investors. That is the price for taking legitimate risk in banking as a business. Dimon still