Recession – What India should do?
Contrary to the claims of the Finance Minister, India is in recession. Even the RBI agrees. Inequality is on the rise. From jobless growth, we are in 'job loss' growth. Study after study confirms...
When India wears the G20 crown
G-20, (abbreviation for Group 20) is a fancy name. It has attracted the imagination of many around the globe and is often dubbed as the most important association of nations that matter in terms...
Importance of Public Banking System and How the Social Responsibility of Banks is being Diluted
A farmer came to a bank and asked for a loan for cultivation. The branch manager asked for security. The farmer said that he doesn’t have any security.
RBI Bulletin- What did the media miss out?
It is surprising that none of these national newspapers noticed the footnote in the publication which said that this was not the opinion of the RBI.
Why Talk of Privatisation When Public Sector Banks are Doing Excellent?
The net profit of the public sector banks in 2021 was Rs.31,820 crore and their operating profit was Rs.1,97,376 crore. The net profit increased by 109% to Rs.66,541 crore in 2022 and the operating...
LIC IPO is a scandal, SEBI, IRDAI and the Supreme Court must intervene!
The Life Insurance Corporation of India’s (LIC) Initial Public Offer (IPO) has been opaque and only after the issue of the Red Herring Prospectus(RHP) some details have emerged.
Why are you killing excellent institutions, Nirmala ji?
Every single institution built up during the last 75 years is either being weakened, strangulated or killed at a slow pace.
Amidst Authoritarian Regimes, Terrible Labour Conditions & Privatization, What’s the Future of our Youth?
Across the globe, we are seeing a rise in authoritarian regimes. Vladimir Putin in Russia, Jair Bolsonaro in Brazil, R.T. Erdoğan in Turkey, Xi Jinping in China and Narendra Modi in India are glaring...
Tata gets a loan at 4.5%, but the poor pay over 26% for microfinance!
On 14th March 2022, RBI issued revised instructions for microfinance loans to the poor by Non-Banking Financial Companies (NBFCs) called Micro Finance Institutions (MFIs).
Economic Survey and Budget 2022 – Hide Facts, Tell Lies, and Provide Irrelevant Statistics
While claiming that India is number one in vaccination, the Economic Survey presents a chart of a few countries, leaving out China. To show our spending in the social sector is worthwhile, it provides...
The largest bank in the country cannot be anti-women!
State Bank of India has announced changes in the recruitment policy, which have come under valid criticism. How can SBI, which should be a model employer, become a guinea pig for wrong policies?
Selling the Golden Goose for a Pittance – Does our FM know what LIC is?
In spite of strong opposition from all sections of the society, the Finance Minister has recently asked her Ministries to speed up LIC Initial Public Offer (IPO).
The Fate of Rural and Farm Credit with Privatisation of Banks
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...
From People’s Bank to a Corporate Slave – Where is the SBI headed?
The recent deal between Adani Capital and the State Bank of India has raised eyebrows. State Bank of India was known as the people's bank, and it could rightly claim that it was 'the...
Privatisation of Banks – A Comedy of Errors or Sale to Corporates?
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...
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