Indian Economy in Shambles-What is to be done?
RBI has downgraded Indiaās 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 processāa 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...
How was Banking in the Private Sector?
There were no public sector banks till 1955. Only on 1st July 1955 Imperial Bank of India was nationalised creating State Bank of India. It is important to know what was banking in our...
Business Correspondents: Modern Day Slavery in Banking Sector
As per RBI Data, as on March 2020 there were 5,41,175 business correspondents in villages and 6,35,046 business correspondents in urban areas. So there are 11,76,221 Customer Service Points covered by the business correspondents...
Challenges Before the Banking Sector Today
The Public Sector Banks have been facing challenges since 1991 with the so-called reform process. Starting from the Narasimhan Committee to P.J. Nayak Committee has recommended reducing Government share. They want banks to be...
Can Bank Privatisation be stopped?
When the financial resolution and deposit insurance Bill was introduced in Parliament many thought that the mighty Government will get it passed.Ā But the campaign against it, not only by Trade Unions but also...
Digital India helping crooks to cheat elderly people
Recently the Deputy Managing Director and the Digital Officer of State Bank of India stated that we have to ensure the safety and security of the Digital Platforms to prevent frauds. Hundreds of fraudulent...
Why Financial Sector Strike?
Banks and Insurance were in the hands of the Private Sector only till 1969. After the nationalisation of banks in 1969 and subsequently in 1980, the outreach of the banking sector changed. Banks became...
Taking away Govt business from Govt Banks: A deep conspiracy to kill them.
The Finance Minister has announced that the government business handled by the government banks i.e. the public sector banks will also be provided to the private sector.Ā Already certain government businesses have been slowly...
Loans to Corporates – Itās high time to implement the RBI decision of 2016
RBI announced in August 2016, that it will move to cap exposure of banks to large borrowers while also taking steps to deepen the Corporate Bond Market. RBI stated that starting from next fiscal year...
Isnāt Selling PSEs, Banks, Insurance, and Assets not selling family silver?
The Finance Minister has stated that she is not selling family silver but strengthening it. Is it true? Department of Investment and Public Asset Management (DIPAM) states that four major areas of its work...
Selling the House to have Alcohol- Budget 2021-22
We have come across alcoholics selling property to have their drink. The central government seems to be doing similar things. The Public Sector is like the house constructed with great ambition. But now, it...
You made me a Khalistani
Long time ago there was a Malayalam film āNingal Enna Communist Aakkiāā You made me a Communist.Ā The happenings on 26th January and the callous attitude with which the government is treating the farmers...
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