To strengthen its economic and political power, India needs its industry to grow, and that depends on a healthy banking sector and supportive capital markets. However, banks remain weighed down by a large non-performing loan burden, which has been aggravated by the crisis, and the continued dominance of state-owned institutions. The government’s latest reforms, including plans to privatise two state banks, may help boost stability and allow the sector to take full advantage of the boom in digital transactions and the advances in fintech. But will they be carried through? Meanwhile, fund-raising via the equity markets is expanding at the fastest rate in more than a decade. Will the momentum be maintained? Can credit markets be developed to provide further financing? 

In the third of a series of online, agenda-setting debates organised by the Financial Times and The Indian Express, leaders in policy, banking and finance, from India and overseas, discuss whether the banking sector and capital markets have sufficient capacity to support a sustained economic recovery.

Understand

How a healthy banking sector and supportive capital markets can help assure India's long-term recovery from the crisis

Connect

With influential leaders in policy, banking and finance who are spearheading modernisation and financing Indian growth

Examine

The government's latest banking reforms and privatisation plans, as well as the Reserve Bank of India's approach to supporting fund flows

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