This is a story I wrote in a book called “Poverty, Affluence, and Success”. The book chronicles how the Indian foreign bank mergers has had a major impact on the global economy.
Why are Indian foreign bank mergers such a big issue? One reason is that Indian banks are a lot more open about their financial conditions to the public than the global banks. In fact, they’re often much less opaque. This is because the Indian banks have a lot more resources, so they can’t afford to hide the truth about their problems.