{"id":307038,"date":"2019-12-24T10:12:35","date_gmt":"2019-12-24T04:42:35","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=307038"},"modified":"2019-12-24T10:46:11","modified_gmt":"2019-12-24T05:16:11","slug":"infra-to-banks-what-will-it-take-to-fix-indian-finance-after-the-crisis","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/infra-to-banks-what-will-it-take-to-fix-indian-finance-after-the-crisis\/","title":{"rendered":"Infra to banks: What will it take to fix Indian finance after the crisis"},"content":{"rendered":"<p>Thirty years ago, India endured its last big financial crisis when it had to send gold held in the central bank\u2019s vaults over to London to borrow hard currency from the Bank of England. Luckily, the flights landed safely, and so did India. <\/p>\n<p>The turnaround in economic thinking triggered by that balance-of-payments humiliation saw the state shed controls on production and imports. The emergence of a globally attuned software services industry as well as vibrant capital markets\u2014which India opened up to the world faster than China\u2014helped spawn entrepreneurship and create a middle class. Hundreds of millions were lifted out of poverty; the 1990-91 crisis became the starting point of two decades of rising prosperity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thirty years ago, India endured its last big financial crisis when it had to send gold held in the central bank\u2019s vaults over to London to borrow hard currency from the Bank of England. Luckily, the flights landed safely, and so did India. The turnaround in economic thinking triggered by that balance-of-payments humiliation saw the state shed controls on production and imports. The emergence of a globally attuned software services industry as well as vibrant capital markets\u2014which India opened up to the world faster than China\u2014helped spawn entrepreneurship and create a middle class. Hundreds of millions were lifted out of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,168],"tags":[],"class_list":["post-307038","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-roads-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=307038"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/307038\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=307038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=307038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=307038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}