It's the incentives, stupid

There is a blame game going on, after the failure of Yes Bank, and many are keen to investigate the managers and the officials who made decisions about Yes Bank. In my column in the Business Standard today, It's the incentives, stupid, I argue that we should investigate the incentives that shaped the behaviour of managers and officials. The recent events should give us fresh energy to undertake institutional reform of financial economic policy.

I look forward to discussing these issues with you further.