The Neelkantha of Economy Dr. Agrawal Divya Kumar* Chief Manager (Research), State Bank Institute of Credit and Risk Management, Plot 77 Sector 18, Gurugram, Haryana, 122008, India *Corresponding Author: Dr. Divya Kumar Agrawal, Chief Manager (Research), State Bank Institute of Credit and Risk Management, Plot 77 Sector 18, Gurugram, Haryana, 122008, India, E-mail: divya.agrawal.me@sbi.co.in
Online published on 21 July, 2020. Abstract Neelkantha is the name given to Lord Shiva when he drank the venom which came after churning of Sea (Samudra Manthan) so that benefits of samudra Manthan can be given to the world and world can be saved from the venom's deadly effect. The economy of the country is also churning and its venomous effect in form of NPA has started gulping the banks like Yes Bank after gulping many companies. To negate this venomous effect, the largest Bank of India, the Backbone of Indian Economy, State Bank of India stepped in as Neelkantha. The Government of India had again trusted upon expertise of a Public Sector Bank to turnaround a turbulent private Bank. This article tries to explain what may have prompted Government to trust a Public Sector Bank and its executives to turn around a Private Bank when critics were questioning the ability of Public sector Banks (PSBs) to control NPA. Top Keywords NPA, SBI, YES Bank, ARC, Recovery, NPA recovery. Top |