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Finance

Yes Bank crisis ignites talk of corruption and crony capitalism

Indian lenders' $120bn in problem loans points to economywide issues

Police stand guard as people wait outside a Yes Bank branch in Ahmedabad on March 6, after India's central bank imposed a withdrawal limit of 50,000 rupees.   © Reuters
KAPIL KAJAL and SAURABH SHARMA, Contributing writers | India

BANGALORE -- The latest Reserve Bank of India takeover of a commercial lender shows a banking system teetering under massive bad loans, a financial system rife with corruption and an economy in thrall to crony capitalists, economists say.

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