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...
A Look at Fintech Apps and Security Concerns
Today Google Pay (G-Pay) owned by Google, PhonePe owned by Walmart, PayTm owned by Soft Bank and other payment apps have taken over money transfers. As per the report of the National Payment Corporation...
Global Climate Action: Where Do Indian Banks Stand?
Indian banks and financial institutions are lagging behind international financial institutions in helping control the climate crisis, research shows.
Isn’t 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...
Random Reflections- Solutions for the Banking Sector
“Call the dog mad and shoot it” was the old slogan. The present slogan is, “poison the dog, make it look like mad and shoot it”. The governments have done exactly the same with...
Random Reflections- Privatisation of Financial Sector – 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...
Random Reflections: 51 Years of Bank Nationalisation – Was it a sin? A vision? A missed opportunity? & What’s today’s position?
Nationalisation of the banks which had deposits above Rs.50 Crores, covering almost 85% of the total deposits on 19th July 1969 was historic, dramatic and welcomed by majority of the people. Some described it...
19th July Call of the Day is “Defend Bank Nationalisation: – Defeat Bank Privatisation”
19th July 1969, the then Prime Minister Mrs. Indira Gandhi Nationalised 14 major private sector banks. Thus banking reached to the rural areas, backward regions. Banks started lending to the agriculture which enabled green revolution...
निवेशकों से धोखा-धड़ी के दोषी सहारा इंडिया के मैनेजर को गिरफ्तार किया जाय। प्रशासन के नाक में खड़े हो कर की जा रही ठगी।
सहारा इंडिया पैरा बैंकिंग शाखा सीधी द्वारा निवेशकों का पैसा हड़पने का पूरा षड्यंत्र रचा गया है। सहारा इंडिया शाखा सीधी के शाखा प्रबंधक की साजिश धोखाधड़ी के इस खेल के खिलाफ दंडात्मक कार्यवाही...
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