Using Artificial Intelligence in Banking may become disastrous
Geoffrey Hinton, aged 75, known as the father of Artificial Intelligence (AI) has recently resigned as Vice President, at Google to speak about the potential risks of AI.
Finally a Five-Day Week in Banks!
Banks abroad work only five days a week. International financial system works only five days a week. Reserve Bank of India works only for five days a week. The Central Government Offices and most...
Systematically killing public sector banks: Pushing away people to money sharks
It was only after the nationalisation of 14 banks on July 19, 1969, that the banks reached the common people. The main changes that were done included a shift from class banking to mass...
‘Mindless’ development model financed by top institutions ’caused Joshimath disaster’
In a statement signed by over 50 civil society organisations and concerned citizens, FAN believes, Joshimath Disaster is the”inevitable result of long neglect of scientific warnings, of gross financialization of nature and total lack...
Demonetisation, Supreme Court order and unanswered Questions
In this in-depth analysis of the entire Demonetisation process in the context of the 4:1 Supreme Court verdict delivered on January 02, 2023, points out that the extensive damages caused by the 2016 measure...
RBI, Artificial Intelligence, Machine Learning and MNCs – Dangerous proposal – Must be dropped
When RBI is refusing to disclose details of borrowers whose loans are written off except in the case..
Reserve Bank of India – Clueless, Careless and Heartless
RBI is the regulator and supervisor of the monetary system. Its objectives are, to maintain public confidence in the system, protect depositors’ interests and provide cost-effective banking services to the public. Its roles are...
IDBI Bank Sale—The Height of Madness
When the Nobel Prize in Economics is awarded to economists for their work on “why banks should not be allowed to fail,” the Union Government announced an Expression of Interest in selling IDBI Bank.
While Finance Minister was sleeping, credit outflows inverted
Since FY20, banks are giving more personal loans than loans to industry, particularly to large industry, and the growth in personal loans is even more dramatic
KYC – Kill Your Customer?
Last year, a retired scientist received a call purportedly from SBI informing him that his account is blocked for non-compliance of KYC. They sent him a password to be shared with the caller. He...
Roadshows in the US to sell IDBI Bank! Why not allow LIC to own it?
“Banking is a very good business if you don't do anything dumb,” goes an anonymous quote.
IBC’s stressed asset resolution is under severe stress, needs overhauling
Everything that can go wrong is going wrong with the big-ticket “reform” Insolvency and Bankruptcy Code (IBC) of 2016, which was sold as the panacea for stressed asset resolutions (NPAs).
Pension and other Social Security – India lags far behind
Our country’s constitution talks of equality, equal opportunity and social justice. But unfortunately, even after 74 years, we lag behind in social security.
Should Corporates Own Banks?
“It would be difficult to undertake credit planning unless the linked control of Industry and Banks in the hands is snapped by Nationalisation of Banks,” said R K Hazari in the R K Hazari...
Govt continues its reckless selling of PSUs amidst rising inequality & unemployment
In its reckless privatisation drive, the union government is selling Central Electronics Limited (CEL) to Nandal Finance & Leasing Private Limited, an NBFC with a dubious record, owned by a furniture company, with less...
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