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 weekly column of Thomas Franco, former General Secretary, All India Bank Officers’ Confederation.
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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...
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. 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...
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