Are Bad Banks here to Save the Corporates?
The Union Government has announced setting up of a Bad Bank (the name itself is bad), called the National Asset Reconstruction Company Ltd (NARCL). It will buy loans above Rs.500 crores from the banks....
Anti People Bills Passed Surreptitiously by the Parliament
In a democracy, debates and discussions and are essential. Issues of governance are of vital importance. Parliament is meant to keep a check on the government by the people and for the people. But...
Enhanced Access and Service Excellence – Easy way of Cheating People
In January 2018, the Government of India launched EASE 1.0. It was developed by Boston Consultancy Group (BCG), a multinational consultant with no experience in banking at all, and it is still run by...
DICGC- To Benefit Govt, Not Customers
The Deposit Insurance Act 1961 came into force from 1st January 1962. Though the name still continues to be ‘Deposit Insurance and Credit Guarantee Corporation,’ the Credit Guarantee scheme was discontinued in 2003. The Deposit...
Why Sell the Public Sector? Pandey ji, please explain.
Tuhin Kanta Pandey, Secretary, Dept of Investment and Public Asset Management was addressing Industrialists in the meeting ‘CII National Conclave’ and stated that disinvestment is back on track now. He is supposed to invest...
Shame on you, Finance Minister!
Finance Minister Nirmala Sitharaman recently tweeted- “The Primary reason for PSBs to post such as Rs.57832 Crore turn around – from a loss of Rs.26016 Crore in 2019-2020 to a combined profit of Rs....
Co-operatives – New back door entry for RSS?
India has had informal Co-operatives sice a long time. In 1904, based on the recommendation of a Madras civilian Frederick Nicholson, the Co-operative Societies Act was passed and then amended in 1912.
The Reserve Bank of India Speeds up its Anti People Policies
It's well known now that RBI is no more an independent institution, and it’s going to destroy the economy of the country as directed by the Corporates. But its actions are alarming. Firstly, to help...
Are the Employees of Public Sector Banks Overexploited?
Newton Kumar who is known on Twitter as @idesibanda has compiled data on the banks’ business and employee strength based on annual reports of the banks. The data on number of customers per employee...
Mallya, Choksi & Nirav Modi Should Have Gone the NCLT Route!
Harsh Goenka, Chairman, RPG Enterprise has stated, “Promoters slash away on the side, take the company to cleaners, get an 80% to 90% haircut from Bankers / NCLT. That’s the new game in town”....
Reserve Bank of India or the Richmen Bank of India?
RBI has been losing credibility since demonetisation. Its subsequent efforts like not intervening when Bank charges were increased, proposing banking licences to corporates which RBI all along opposed on well found principles, allowing more...
Indian Economy in Shambles-What is to be done?
RBI has downgraded India’s growth projection to 9.5% from 10.5%. World Bank projects it at 8.3%. Actually, it may be worse. This is at the backdrop of GDP growth of a negative 7.3%. Last year,...
Did Nationalisation Achieve its Objectives?
Bank Nationalisation and the associated public policies on banking and financial sector development were predicated on the strong assumption of the need for promoting financial intermediation by building institutions, expanding their geographical spread, mobilising...
Why was the Nationalisation of Banks Necessary?
The Socio-political environment of the second half of 1960s reflected a sense of disenchantment in the growing inequalities spawned by the development process–a sense which was highlighted by a series of studies such as...
History Shows that Public Sector Banks are Needed
When India attained Independence in 1947 it inherited a weak, desperate and unwieldy banking structure. Other than the Imperial Bank of India, there were many Indian joint stock banks, but they did not have...
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