Banks must adopt ESS safeguards in lending
As we observed environment day during one of the hottest Indian summers, the near absence of climate change as a civic discourse is alarming. At a time when the world finds itself in the...
Turbulent Weather: Airport Authority of India Strike
Just as the bank unions have called to intensify their protest action against bank privatization, multiple unions of the Airport Authority of India (AAI) had given a one-day dharna call for the 31st of...
Is Forbearance the Original Sin?
Chapter 7 of Economic Survey dealing with the banking crisis strongly emphasizes that the continuation of the policy of forbearance followed in the wake of Global Financial Crisis (GFC) even after 2011 was the...
Farm Acts and Misplaced Priorities of Priority Sector Lending
Prime Minister Modi continues to defend the farm Acts passed in the houses by blaming the opposition of spreading lies. He also added that the Acts will enable famers to sell their produce anywhere in...
Of GDP and Tax Cuts…
More than Rs. one lakh crore (Rs. 1,08,785.41) revenue forgone due to exemptions availed by corporates in 2019 , informed the Finance Ministry answering a question yesterday (Nov 2) in the Lok Sabha. For...
Is PMC fraud an isolated event or a Systemic Failure?
On 24th September the depositors of the Punjab and Maharashtra Cooperative (PMC) Bank, woke up to the RBI directive that they are allowed to only withdraw Rs. 1000 from their accounts for the next...
Snippets from the World of National Financial Institutions – June, 2019
RBI ‘relaxes’ norms on BSBDA accounts: There are news reports mentioning that with the new notification RBI has eased norms for BSBD accounts and new facilities will be provided to Basic Saving Bank Deposit...
Snippets from the World of National Financial Institutions – May, 2019
More NPAs to haunt banks with IL&FS Exposures: The NCLT has asked the banks to consider their exposure to ILFS as NPAs. Earlier NCLT has restricted banks from declaring their exposure to IL&FS prompting...
The Crisis In The Banking Sector Is A Created One: Priya Dharshini
The crisis in the banking sector is a created one, where the commercial banks have been forced to lend on a large scale to the development projects and to the corporates and which has...
FRDI Bill Withdrawn: A Victory to the People
On August 7 2018, the government officially withdrew its proposed Financial Resolution and Deposit insurance Bill (2017). This Bill aimed to redefine the regulatory framework by introducing a Resolution Corporation (RC) that would have...
A False Debate on the Frauds and Regulations in Public Sector Banks
The war of words between the Finance Minister and RBI governor has steamed up with the Arvind Subramanian, Chief Economic Advisor, jumping in the fray attacking the Urjit Patel, RBI Governor, who commented, among...
Campaign to Save Public Sector Banks Reaches Hyderabad
AIBOC, NAPM, NTUI have been holding meetings in various regions as a part of the campaign to save public sector banks and to repeal FRDI Bill. As a part of this campaign, a public...
FRDI: Robbing Savings to Pay Corporate Debts
Financial Resolution and Deposit Insurance (FRDI) Bill, 2017 is supposedly the new weapon in the government’s arsenal to ‘solve’ the bad loan crisis. This Bill’s stated objective is to form a Resolution Corporation that...
Why is the government in hurry to pass the FRDI Bill?
The Financial Resolution and Deposit Insurance Bill (FRDI) was introduced by the Union Minister of State for Finance Arjun Ram Meghwal in the Parliament (Lok Sabha) on August 10, 2017, on the penultimate day...
India Needs Good Banks And Not Big Banks
More than 10,000 bank employees and officers from across the country marched from Ramlila Grounds to Parliament on September 15, 2017. They were marching to protest the anti-people banking reforms being implemented by successive...
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