Insolvency of ‘Insolvency and Bankruptcy Code’ – Booklet
Insolvency and Bankruptcy Code was brought in 2016 with a huge fan flare and was presented as a magic solution for the underlying problem of corporate bad loans. After 5 years, we can see...
Bank Nationalization Day: In Defense of Public Sector Banks
19th of July is marked as the bank nationalisation day, recognising the historical decision of the Indira Gandhi government to take control of private banks. It is not an exaggeration to say that the...
History of Nationalisation of Banks and Task ahead
While celebrating 52 years of Nationalisation, we have a government led by those people who along with their party opposed Nationalisation and now want to privatise everything. It is important to look at History...
How ‘The insolvency and bankruptcy code’ helps to loot public money ‘legally’
A law called “The insolvency and bankruptcy code (IBC) 2016” was enacted in the parliament in May 2016 apparently to recover the mounting Non-Performing Asset (NPA) from the corporate sector. This law enables the...
Naionalisation of Banks: An Outstanding Intervention
The story of India’s Bank nationalisation in 1969, i.e. the public takeover of a significant part of the country’s banking system, its causes, consequences, achievements, and finally concerted attempts to weaken/roll-back the banking and...
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,...
GDP Growth and Mirage of V-shaped Recovery
If GDP growth rate is an indication of where our formal economy is, then there’s a lot to worry about. It fell to -7.3% in FY21, from the low of 4.2% in FY20. Unless...
Beyond the Frenzy Sale of PSUs!
The government wants to sell the Life Insurance Corporation of India (LIC), which is worth about Rs 34 trillion (USD45 billion). The stage has been set with increasing foreign direct investment (FDI) in insurance...
India’s new farm laws mirror international financial institutions’ vision of agriculture
For more than 100 days, thousands of farmers in India have been in the streets protesting three new farm laws introduced in parliament. The new laws open the agriculture sector to reforms advocated by...
Random Reflections- Future of Wage Revision and Trade Unions in Banking Sector – End of the Road?
After more than 3 years of negotiations, strikes and agitations, wage revision for bank employees has been signed on 11.11.2020. For the award staff it is called Bipartite Settlement as they are covered under...
Random Reflections- Demonetisation – The cruel joke on the People
After demonetisation on November 8, 2016, seeing the anger of the people, on Nov 13 PM Modi in an emotionally choked speech in Goa said “I have asked the country for just 50 days....
SAVE PUBLIC SECTOR CHARACTER OF IDBI
TO PROTECT HARD EARNED SAVINGS OF THE COMMON MAN ORIGIN OF DEVELOPMENT BANKING Historically, the idea of establishing special institution for the provision of finance for industry was put forth in strong terms, as...
Give Doing Business report a COVID burial
On August 27th, the World Bank came out with a statement suspending the Doing Business Report. The statement said that a number of irregularities have been reported regarding changes to the data in the...
Random Reflections- Act of God and Banking
Ms. Nirmala Sitharaman’s 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 – 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...
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