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A brief history: The history of investment banking firms can be traced back to ancient times when merchants and traders pooled resources to finance long-distance trade expeditions. Over time, two somewhat distinct models arose from the history of investment banking. The old merchant banking model was largely a private affair conducted among the privileged denizens of the clubby world of old European wealth. In this model, merchant banks typically put-up sizable amounts of their own (family-owned) capital along with that of other private interests that came into the deals as limited-liability partners. On the other hand, as investment banking evolved, a more modern approach emerged, with firms diversifying their services and expanding globally. These modern investment banks became significant players in capital markets, mergers, and acquisitions, offering a wide range of financial advisory services to corporations, governments, institutions, and high-net-worth individuals, contributing...

Non-performing assets have dipped but it's too early to uncork the bubbly as global slowdown impacts export and MSME sectors. IT'S ONE OF THE  most important achievements of the banking industry over last few years — sorting the bad loan mess that once threatened to take the entire sector down with it. Regulator Reserve Bank of India (RBI) and Centre laid the groundwork to resolve non-performing assets (NPAs). While RBI ordered steps such as asset quality review to recognise the extent of the bad loan problem, the government came out with the Insolvency And Bankruptcy Code (IBC) framework under which banks can recover loans to companies in an orderly and time-bound manner. After all, corporate loans are the biggest chunk on bank books. "Gross NPAs in corporate loans peaked at roughly 16% in March 2018. We expect them to touch 2% by March 2024," says Krishnan Sitaraman, senior director and chief ratings officer at Crisil Ratings. As NPAs in corporate loans fell, overa...