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...
Random Reflections- Loan Melas Are Back. Bankers Going to be in the Receiving End
The Hindu reported on 22nd June 2020 under the caption, ‘TN BJP creates website to help people get bank loans under central schemes’ saying that the TN state unit of BJP has set up...
THE BREACH OF TRUST BETWEEN BANKS AND THEIR CUSTOMERS
There are several factors which play an important role in determining the relationship between banks and their customers. One of the most important amongst them is what services banks provide and how they deliver...
BANK CHARGES EXHAUSTING COVID-19 RELIEF FUND
On 24th March, 2020, the Prime Minister of India has declared the nationwide lockdown due to global widespread of Covid 19. As a result, the entire businesses, works, and economy have shut down leading to...
Random Reflections- Bank Loans; Many a slip between the Cup and the Lip: AIMO Survey Results
All India Manufacturers’ Organisation founded by Bharat Ratna, Sir M. Visvesvaraya in 1941 represents the MSMEs in the country. With the initiative of Shri K.E Raghunathan, immediate past president of the organisation AIMO has...
How Banks Are Stealing Our Money
The Indian banking sector is under a prolonged and severe crisis. Bad loans continue to grow and banks remain under-capitalized with profits in the red. As a result, credit growth remains muted, reinforcing the...
Breakdown of Finance Minister’s Atmanirbhar Bharat
Finance Minister gave a press statement and a document of 27 pages has been released. Everybody is hoping now for the other parts. When the economy is in crisis everyone hoped for relief package...
Banking in Disarray! How to bring it back on tracks?
RBI in its first announcement dated 27th March 2020, consequent upon corona pandemic 2019 had come out with various initiatives such as reduction in CRR, Repo Rate etc. thus to improve upon liquidity position...
BANKS LEVY NUMEROUS CHARGES ON CUSTOMERS FOR SERVICES
All the banks, especially the public sector banks have a moral obligation and social responsibility of promoting financial inclusion and social welfare. The banks run on the deposits and when a bank sinks, depositors...
NABARD, SIDBI & IFCI need to be given more power to revive rural credit demand: Former AIBOC secretary
In order to strengthen banking services in rural India, it is important that the government exercise more power to institutions like NABARD, SIDBI and IFCI, stated Thomas Franco, former general secretary of All India...
DEPOSITORS FACING DOUBLE WHAMMY OF KEEPING SAVINGS AND PAYING FOR BANK LOSSES
The savings of people deposited in banks form the capital of banks which banks lend to borrowers. Banks earn interest on the loans issued to borrowers. The cost of operating expenses including salaries comes from this...
Experts, Activists and Journalists Discussed Infrastructure Finance
Experts, Activists and Journalists Discussed Infrastructure Finance in India: A Report September 6, 2019, Nagpur: Around 60 activists, researchers, academics, journalists, trade unionists and grassroots community organisers attended recently concluded two-day conference on Infrastructure...
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