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).
On 3rd April, the Prime Minister held a meeting with the Secretaries of various departments. As per reports, several top bureaucrats flagged their concerns over populist schemes and freebies announced by political parties during...
Our country’s constitution talks of equality, equal opportunity and social justice. But unfortunately, even after 74 years, we lag behind in social security.
BJP has secured a landslide win in Uttar Pradesh and there are many reasons stated in the press and on the TV discussions, but one which has not come to focus is how the...
“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...
From 1991 with the debut of neoliberal policies we have followed the dictates of IMF, the World Bank, the Financial Stability Board (of G-20) and now even the World Economic Forum.
On 1st October 2017, five associate banks of SBI were merged in the State Bank of India. Dena Bank and Vijay Bank were merged in Bank of Baroda on 1st April 2019, while in...
The global economy is in a downward trend, fueled by the 3rd wave of the pandemic. In India, the role of Public Sector Banks (PSB) who constitutes more than 65% of the banking system,...
Rural and farm credit were totally neglected before the nationalisation of banks on 19th July 1969. The historic All India Rural Credit Survey carried out in 1954 showed that formal credit institutions provided less...
Amendment of the banking law has been enlisted in this session of parliament. This is a reversal of the nationalization affected in 1969 and 1980, taking over private banks from business houses that were...
While the entire Indian economy was disrupted by the demonetisation exercise announced on November 8, 2016, removing high-value currency notes overnight, it simultaneously stirred a serious controversy on the role of Reserve Bank of...
The book is worth reading to know how the public sector banks, the RBI and the Ministry of Finance deal with banking. How they create a crisis and try to manage it. I am...
Public Sector Banks (PSBs) have played a significant part in the country’s economic growth. The principles of nationalization also contributed to the social banking character of the PSBs. This scenario has been changing since...
The Union Government has announced setting up of a Bad Bank (the name itself is bad), called the National Asset Reconstruction Company Ltd (NARCL). It will buy loans above Rs.500 crores from the banks....
In January 2018, the Government of India launched EASE 1.0. It was developed by Boston Consultancy Group (BCG), a multinational consultant with no experience in banking at all, and it is still run by...