RBI’s “Consultative Document on Regulation of Micro-Finance” Part -2
RBI vide its June 14, 2021 press release has issued a 30 page “Consultative Document on Regulation of Microfinance” (henceforth “Document”) seeking comments from public at large.
Banking and Customer Rights
The banking sector has definitely come a long way since nationalisation, we still are many miles behind in our target of achieving a fully inclusive banking system. Do we have a banking system where...
RBI’s “Consultative Document on Regulation of Micro-Finance” Part 1
In the aftermath of Andhra Pradesh microfinance crisis, erupted in 2010, RBI appointed a committee under the chairmanship of Shri Y H Malegam to study issues and concerns of the Microfinance Sector. Non Banking...
Insolvency of ‘Insolvency and Bankruptcy Code’ – Booklet
Insolvency and Bankruptcy Code was brought in 2016 with a huge fan flare and was presented as a magic solution for the underlying problem of corporate bad loans. After 5 years, we can see...
Bank Nationalization Day: In Defense of Public Sector Banks
19th of July is marked as the bank nationalisation day, recognising the historical decision of the Indira Gandhi government to take control of private banks. It is not an exaggeration to say that the...
People’s money for people’s welfare
On the eve of independence of our country, on 14th August 1947, Pandit Jawaharlal Nehru spoke in the Constituent Assembly that India has a tryst with destiny. Similarly AIBEA made a tryst with destiny...
History of Nationalisation of Banks and Task ahead
While celebrating 52 years of Nationalisation, we have a government led by those people who along with their party opposed Nationalisation and now want to privatise everything. It is important to look at History...
How ‘The insolvency and bankruptcy code’ helps to loot public money ‘legally’
A law called “The insolvency and bankruptcy code (IBC) 2016” was enacted in the parliament in May 2016 apparently to recover the mounting Non-Performing Asset (NPA) from the corporate sector. This law enables the...
The Challenge of Revival of Development Finance in India: A Political Economy Perspective
Nationalisation of private sector banks was carried out during the decades of seventies and eighties by the Indian state with the aim to widen and deepen the path of capitalist transition in India. In...
Naionalisation of Banks: An Outstanding Intervention
The story of India’s Bank nationalisation in 1969, i.e. the public takeover of a significant part of the country’s banking system, its causes, consequences, achievements, and finally concerted attempts to weaken/roll-back the banking and...
IBC: Escape Route for Big Corporate ?
The then Finance Minister late Mr. Arun Jaitley & the present Finance Minister Smt. Nirmala Sitharaman used to say that IBC will prove to be a game changer. Indians are scared of stigma &...
GDP Growth and Mirage of V-shaped Recovery
If GDP growth rate is an indication of where our formal economy is, then there’s a lot to worry about. It fell to -7.3% in FY21, from the low of 4.2% in FY20. Unless...
COVID-19: Why we must reorganise cities to deal with the third wave
As ambulances siren through streets and social media is filled with desperate pleas for beds, ICUs, oxygen and Remdesivir, phones keep ringing with news of relatives, friends and contacts falling sick and many losing...
Beyond the Frenzy Sale of PSUs!
The government wants to sell the Life Insurance Corporation of India (LIC), which is worth about Rs 34 trillion (USD45 billion). The stage has been set with increasing foreign direct investment (FDI) in insurance...
Why Public should Oppose Privatisation of Public Sector Banks!
Around 10 Lakh bank employees of Public Sector Banks (PSBs) are protesting for two days against the proposal to privatise (sell) two Public Sector Banks. Here, I try to explain why Public Sector Banks...
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