A sudden change in the currency with which old debts to the colonies had to be paid helped Britain consolidate its status as a financial centre
Founding editor of The Wire M.K. Venu interviews Ashish Khetan, senior spokesperson of Aam Aadmi Party and chairman of the Dialogue and Development Commission of Delhi about Vijay Mallya’s arrest and the fight against corruption in big business.
Directors of the banks may review the telecom sector latest by June 30, 2017
The discourse around non-performing assets (NPAs) remains largely focused on private corporations, while NPA concentration in public sector undertakings flies under the radar of scrutiny.
Leaving aside the historical traditions of each princely state bank, and the imminent implementation obstacles, the few advantages of this merger deserve closer scrutiny.
The constant extension of a deadline to reduce promoter shareholding could net Uday Kotak and his family members a hefty sum.
The attempt started after a bank employee opened up an email attachment that appeared to come from the RBI but actually contained malware.
Will the Modi government’s digital push help it curb “excess cash” and print fewer notes than what was extinguished through demonetisation?
This week’s $23 billion tie-up between Idea Cellular, controlled by the Aditya Birla Group, and the Indian business of Vodafone Group, is the latest example of a trend that is squeezing major international investment banks.
The Reserve Bank of India last month allowed banks to make AT1 coupon payments from statutory reserves, a move analysts said was aimed at easing pressure on banks to service coupons on the bonds.
While the bank has denied rumours of a potential merger, what issues need to be considered? The bank’s operations and the state of its loans needs to be minutely examined.
The RBI official has proposed creating “bad bank”-type institutions to buy and restructure stressed loans, along with an approach to banks and defaulters that he called “tough love.”
The RBI’s statement, the first after the Budget, carries forward the Budget’s message of fiscal discipline and consolidation.
The RBI is opting to wait for more clarity on inflation trends and on how a radical crackdown on “black money” is impacting economic growth.
If the monetary policy committee waits until April, it will have a better idea of demonetisation’s negative impact and a firmer grasp of global commodity price trends.
Given the imperious attitude of new leaders to institutions of the old order, the questioning of central bank independence is a given.
Inflationary concerns aside, we also have to realise that fiscal deficits are always accompanied by trade deficits.
From potentially slashing middle-class subsidies as a method of funding a UBI, to eyeing the RBI’s reserves as a means of creating a ‘Bad Bank’, this year’s Economic Survey tackles three pressing issues.
In an interview with The Wire, the former central banker talks on the infeasibility of executing demonetisation while raising concerns over re-starting the working capital cycle of small and medium businesses.
In a letter to RBI governor Urjit Patel, the employee’s union says that the image of the central bank has been dented beyond repair.
How much money will come through the second income disclosure scheme and by tracking down hitherto unidentified black money? What will it be used for?
Deputy governor R. Gandhi’s claims on the quantity of low-value notes pumped into circulation are false. The giant release of small change is just another attempt at spin.
Is finance minister Arun Jaitley budgeting in the dark? One can’t have a strategy for economic revival without first estimating the economic impact of demonetisation.
India clearly lacks the adequate infrastructure required for becoming a cashless system. Among BRICS nations, in this regard, it is a laggard.
2017 will need to see less of the carrot and more of the stick in order to persuade India’s institutions to prepare against an ever-increasing number of cyber security threats.
It is dangerous for the government to seek financial stability at the cost of people who entrust their money to banks.
Blaming the money laundering instances on a few employees and suspending officials may deflect public and regulatory criticism but the cancer is widespread.
When the RBI signed off on demonetisation, its central board had the lowest number of directors in 15 years and only three truly independent directors.
The new black money disclosure scheme will start from December 17 and continue up to March 31, 2017.
Even as the Modi government pushes India towards a digital and cashless economy, the premier body for legally resolving cyber-fraud disputes is a practically non-functioning entity.
Digital payments are largely one-sided click-wrap agreements that come with an absence of data and legal protection.
Everyone knows why the previous governor of RBI had to leave. Urjit Patel understands the circumstances under which he assumed charge but has still risen to the occasion.
The worst hit sectors by demonetisation are the automobile, consumer and the realty sector. The banking sector, on the other hand, has had a differential impact.
The increase in deposits and the fall in lending rates is simply because the government has made it impossible to hold cash. When the economy does adjust to a new equilibrium, the fallout could well be significant.
Different political viewpoints tend to linger on different aspects of the critiques of the banks.
Summers, a proponent of doing away with larger-value currency notes, says it is highly problematic for the government to expropriate from even a few innocent victims who do not manage to convert their money.
Harvard economist and author of The Curse of Cash analyses the Indian demonetisation decision against the backdrop of international experience and wonders whether Modi’s plan will work.
After waiting for new currency notes for a few days, many small businesses have already started accepting old currency notes of 500 and 1000. This trend may increase in the coming days
Was the November 11th target for re-opening of ATMs unreasonable? Long-term neglect and quality-of-service issues aren’t helping either.
How will Modi’s so-called surgical strike on black money play out for people with varying occupations and with various reasons for dealing with large cash transaction?