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.
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
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