Jio Payment Bank fined Rs.1 Cr by RBI
On October 2020, RBI has slapped a penalty of Rs.1 Crore on Jio Payment Bank. JPB is a venture of Reliance with 70% holding and SBI 30%. The contents of RBI Press Release The...
Random Reflections- Bad Boy Billionaires â Few abroad many more in the Country
Netflix is screening a three part series titled âBad Boy Billionaires â Indiaâ. The documentary outlines certain elements of the stories of Vijay Mallya, Nirav Modi and Subrata Roy. The documentaries are inaccurate, inadequate...
Random Reflectionsâ Whom are you fooling Finance Minister?; You are actually opening a Pandoraâs Box
On 12th October, the Finance Minister told the media that she is announcing a package to boost demand. What is the Package? The package includes Rs.10000 Festival advance to central government employees, LTC cash...
Random Reflectionsâ Indian Railways Moving Mountains Belongs to People not Modiji
Narendra Modi, Prime Minister made a public statement in 2014 that the public sector was born to die. He also stated that it should either be allowed to die or should be privatised. Now...
Random Reflections- Future of Indian Economy & Banking
The economy world over has been affected which has never happened at this scale. World Bank report of June predicted that 71 million to 100 million people will move towards extreme poverty of less...
Random Reflectionsâ Narasimham Committee to Kamath Committee- Restructuring Loans or Restructuring of Banks?
From the day banking started, bankers always had a plan for handing loans going bad. Banking says giving loans has a credit risk due to various reasons. Banks become a partner to the borrower...
New Priority Sector norms â Favouring Rich and fleecing the poor
The Reserve Bank of India has released revised priority sector norms. A closer look shows how the government and RBI are tweaking the norms to favour the rich and fleece the poor. Already the...
Random Reflections- Is State Bank of India going to be privatised first?
The government is in a privatisation spree in spite of wide spread opposition. The RBI, Niti Ayog (Aniti Ayog) and Finance Ministry are used to give confusing signals. While a RBI Dy. Governor demands...
Random Reflections- Act of God and Banking
Ms. Nirmala Sitharamanâs statement that Covid-19 is an act of God to deprive states and union territories of their legally due GST has led to lot of discussions. While the central government in a...
Random Reflections- Cheating the Street Vendors and the Public- The Finance Ministers way
Remember the Atma Nirbhar â TV Show of Mrs. Nirmala Sitaraman and Mr. Anurag Thakur? After that, both have disappeared for long. May be rehearsing for the next show. Mr. S.Gurumurthy has announced that...
Random Reflections; Privatization of Public Sector â Withering of the State?
We just celebrated the 74th Independence day. On the Midnight of 14th August 1947, Pandit Jawaharlal Nehru while addressing the Constituent Assembly in his famous speech, âTryst with destinyâ, underlined that the service of...
Random Reflections- How & why Manmohan Singh was wrong then & wrong now?
On 24th July 1991 Dr. Manmohan Singh presented his budget to the parliament in which he stated that until November 1989 when his Congress party was in office the economy was doing well but...
Random Reflections: Why India needs Five Day Week?
India is a country of youth now and we are proud of it. It provides us a great opportunity. The youth not only need employment but also work life balance. Joint families are gone....
Random Reflections- Solutions for the Banking Sector
âCall the dog mad and shoot itâ was the old slogan. The present slogan is, âpoison the dog, make it look like mad and shoot itâ. The governments have done exactly the same with...
Random Reflections- Privatisation of Financial Sector â A road to ruin
Almost all financial newspapers have informed that 3-5 banks and 3 general insurance companies are going to be privatized. They have indicated that Bank of India, Indian Overseas Bank, UCO Bank, Punjab and Sind...
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