Business

But any effort to deal with the underlying problems that plague the Indian economy runs directly into powerful political interests.

On Tuesday, India’s government said inflation increased 9.1 percent in May, compared with a year earlier, a higher rate than expected.

That came atop troubling economic data indicating India’s gross domestic product growth had slowed, as companies spent less, foreign investment dropped and bad loans piled up at some banks.

While India’s long-term prospects remain strong, many economists and analysts say the country’s central government needs to act quickly to ensure the short-term problems do not intensify. While slower growth could help curb inflation, critics are not confident the government has the policy finesse to address either problem adequately.

A banker with a pied-piper quality, Mr. Mitchell persuaded Mr. Jain and 500 others to leave secure jobs at Merrill Lynch in the mid-1990s to help him transform Deutsche Bank from a slumbering financial institution focused mostly on traditional lending to German companies and individuals into a global powerhouse that generated half its profit from trading and deal making. At the peak of his success, in late 2000, Mr. Mitchell was killed in a plane crash.

In building up Deutsche’s investment bank, Mr. Mitchell formed the template for the global universal bank that has since been emulated — for good and ill — by Citigroup, Royal Bank of Scotland, JPMorgan Chase, UBS and Barclays.

At the age of 48 — about the same age as Mr. Mitchell at the time of his death — Mr.

A banker with a pied-piper quality, Mr. Mitchell persuaded Mr. Jain and 500 others to leave secure jobs at Merrill Lynch in the mid-1990s to help him transform Deutsche Bank from a slumbering financial institution focused mostly on traditional lending to German companies and individuals into a global powerhouse that generated half its profit from trading and deal making. At the peak of his success, in late 2000, Mr. Mitchell was killed in a plane crash.

In building up Deutsche’s investment bank, Mr. Mitchell formed the template for the global universal bank that has since been emulated — for good and ill — by Citigroup, Royal Bank of Scotland, JPMorgan Chase, UBS and Barclays.

At the age of 48 — about the same age as Mr. Mitchell at the time of his death — Mr.