Una Galani is Associate Editor of Reuters Breakingviews, based in Mumbai. She covers a cross-section of business, finance, and politics in South Asia. Una was in Hong Kong from 2013 and previously spent three years in Dubai writing about Middle Eastern economies during the Arab Spring. She joined Breakingviews in 2006 in London. In 2016, she won Asia Pacific Best Editorial Comment at the State Street Press Awards and Reuters global analysis/commentary of the year. She read English Literature at St Catherine’s College, Oxford. Follow @ugalani
To save the private carrier, India’s premier may have to choose between relaxing foreign ownership rules for Abu Dhabi’s Etihad and letting state banks take a hit. Both options touch the sorest points of Indian finance: it's an awkward dilemma in the run-up to a general election.
Deals are coming fast on the back of political and regulatory pressure. Plucky $9 bln Bandhan will buy richly valued mortgage lender Gruh without paying a premium. It follows a sensibly-structured three-way merger among state banks. These are some good signs for the industry.
To win this year’s election, Prime Minister Narendra Modi must appease those reeling from crashing crop prices. Half the workforce depends on agriculture. But rural problems run deep; a solution, whether it is a loan waiver or a quasi-universal income, will need to be radical.