On March 15 and 16th of 2021, the United Forum of Bank Unions called for a two day strike in order to oppose the proposed privatization of Public Sector Banks by the Centre. 

The Finance Minister, Nirmala Sitharaman in her Union Budget Speech 2021-22 stated that the Centre wanted to privatise IDBI and two other banks. More than 10 lakh banking employees have gone on strike in March 2021 against privatisation. 

Let’s go down to the basics of banking- What is the function of banks, and how did they evolve. To get the answers to these fundamental questions on banking, Kunika Balhotra, Suno India’s Research and Communications Officer reached out to Amol Agrawal. 

Amol is a faculty in the Economics Area at Amrut Mody School of Management at Ahmedabad University. He has about 10 years of Work Experience mainly as an economist in financial markets in Mumbai. He is an avid blogger and his blog is consistently ranked amidst top 100 economics blogs in the world.

Check out his blogs, “Mostly Economics” here. 

On March 15 and 16th of 2021, the&nbsp;United Forum of Bank Unions called for a two day strike in order to oppose the proposed privatization of Public Sector Banks by the Centre.&nbsp;
The Finance Minister, Nirmala&nbsp;Sitharaman&nbsp;in her Union Budget Speech 2021-22 stated that the Centre wanted to&nbsp;<a href="https://www.business-standard.com/article/economy-policy/bank-strike-ends-unions-warn-stir-if-govt-goes-ahead-with-privatisation-121031601242_1.html">privatise</a>&nbsp;IDBI and two other banks. More than 10 lakh banking employees have gone on strike in March 2021 against privatisation.&nbsp;
Let&rsquo;s go down to the basics of banking- What is the function of banks, and how did they evolve. To get the answers to these fundamental questions on banking, Kunika Balhotra, Suno India&rsquo;s Research and Communications Officer reached out to&nbsp;<a href="https://twitter.com/mostlyeconomics">Amol Agrawal</a>.&nbsp;
Amol is a faculty in the Economics Area at Amrut Mody School of Management at Ahmedabad University. He has about 10 years of Work Experience mainly as an economist in financial markets in Mumbai. He is an avid blogger and his blog is consistently ranked amidst top 100 economics blogs in the world.
Check out his blogs, &ldquo;Mostly Economics&rdquo;&nbsp;<a href="https://mostlyeconomics.wordpress.com/about/">here</a>.&nbsp;

Every few months we read statistics related to the economy in the news. Whether it is about government claims of the economy growing, or job losses, industries suffering, the economy is on our minds 

But how much do we understand about it? What factors affect economic growth? And how are we affected by it? To understand how the larger principles of the Indian economy affects us, we at Suno India are bringing in a new series called Indian Economy Explained. 

In the “Indian Economy Explained” series host Kunika Balhotra will bring insightful discussions with reputed economists, researchers, professors and people working in the financial and developmental sector to understand broad principles about our economy and help contextualise the tumultuous times we live in.

Every few months we read statistics related to the economy in the news. Whether it is about government claims of the economy growing, or job losses, industries suffering, the economy is on our minds&nbsp;
But how much do we understand about it? What factors affect economic growth? And how are we affected by it? To understand how the larger principles of the Indian economy affects us, we at Suno India are bringing in a new series called Indian Economy Explained.&nbsp;
In the &ldquo;Indian Economy Explained&rdquo; series host Kunika Balhotra will bring insightful discussions with reputed economists, researchers, professors and people working in the financial and developmental sector to understand broad principles about our economy and help contextualise the tumultuous times we live in.

Indian Economy Explained

The economy of India is characterised as a middle income developing market economy. It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).  An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents. 

To understand all these aspects and the issues like GDP and economic slowdown, role of MSMEs, women participation in economy and many more tune into our latest series Indian Economy Explained.

This series features insightful discussions with reputed economists, researchers, professors and people working in the financial sector.

The economy of India is characterised as a middle income developing market economy. It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP).&nbsp; An economy is an area of the production, distribution and trade, as well as consumption of goods and services by different agents.&nbsp;
To understand all these aspects and the issues like GDP and economic slowdown, role of MSMEs, women participation in economy and many more tune into our latest series Indian Economy Explained.
This series features insightful discussions with reputed economists, researchers, professors and people working in the financial sector.

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