THE GREAT BANK ROBBERY

by V. Pattabhi Ram, Sabyasachee Dash

‘There exist books on specific scams. Harshad Mehta being a case in point. But I can’t readily think of books that straddle a variety of scams. On that count alone, V. Pattabhi Ram and Sabyasachee Dash have produced a remarkable book, so that citizen angst and government countervailing action is better informed.’ — Bibek Debroy , Economist and Chairman of the Economic Advisory Council to the Prime Minister of India

On 24 December 2036, the price of a blue-chip stock, the National Bank of Hindustan, crashes after a leak of the forensic auditors’ report. This triggers a series of conversations between Lobin Stephen Senior, one of the senior-most bankers in the country, with his two great-grandchildren.
In an easy conversational style, The Great Bank NPAs, Scams, and the Future of Regulation captures the basic functioning of commercial and public sector banks. Vast amounts of public money have vanished from banks over the last few decades, with no remedial measure having been effectively put in place. The victim invariably ends up being the lay Indian citizen.
The book discusses 11 scams that have rocked the nation since Independence. Without sensationalizing the dramatic content, the book examines how the frauds took the strategies used by the scamsters, the regulation loopholes they used, and the lasting consequences thereof. It also discusses the role of prime stakeholders in the banking and finance sectors, such as auditors, company boards, the regulator and rating agencies.
A simple but not simplified primer into the world of banking and finance, this book is an engaging and timely discussion directed at the Indian citizen.

224 pages, Hardcover

Published February 5, 2023

Reviews

[Swapna Peri ( Book Reviews Cafe ) · Rating 4 out of 5]

The Great Bank Robbery by V. Pattabhi Ram & Sabyasachee Dash is a unique book that provides a comprehensive understanding of the complexities of banking in India. The book uses fiction as a weapon to weave a story with conflicting central points as actual incidents, highlighting the nuances and complexities of banking. The book starts with the main character Krishna and moves on to the scams and frauds India has witnessed to date. It provides straightforward explanations of terms used in banking jargon and explains the methodology behind such scandals. The book offers condensed facts about poor loans and offers recommendations to prevent repeating the past. It is a must-read for anyone interested in understanding the present and future of banking in India.

[Niraj Khandwala · Rating 4 out of 5]

I would give it more like 3.5 stars...while the concept of someone narrating a story was nice, I think some more details of the scams itself would have made the reading a bit more interesting.

nevertheless it's a great read for non finance people as they can get some information on how banks and scams work (together 🤪)

[Abhishek Mishra · Rating 5 out of 5]

I just finished reading it. It covers greatest bank scams during the last few decades in an interesting manner while also educating us on various nuances of banking system.

[Pranav Kumar · Rating 3 out of 5]

More like 3 to 3.5 stars.

[K · Rating 2 out of 5]

I had great expectations from this one. Going by the five star ratings, highly disappointed ..there’s nothing new in it.