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....
Random Reflections— Narasimham Committee to Kamath Committee- Restructuring Loans or Restructuring of Banks?
From the day banking started, bankers always had a plan for handing loans going bad. Banking says giving loans has a credit risk due to various reasons. Banks become a partner to the borrower...
Snippets from the world of Indian economy and banking
State-owned banks need Rs 2 trillion in capital over next two years: Moody’s Public sector banks (PSBs), which have already had weak capital buffers, will need at least $25 billion in funding from external...
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...
Updates from IMF: Forecast for Post-COVID Economy and Debt Levels
The International Monetary Fund (IMF) released two updates in the month of June – first was the World Economic Outlook, titled A Crisis Like No Other, An Uncertain Recovery and another was the Financial...
Random Reflections- Are the Public Banks Already Private?
Institutions do not become public only because of ownership by the state. They should serve the people at large who are the real owners. While nationalising banks, the purpose was not to earn profit...
Concept Note titled Public Money: Resistance Against Arbitrary Bank Charges
Banks act as financial intermediaries between depositors and borrowers. It is the public money, deposited in the form of term deposit (fixed deposits) and time deposit (saving accounts) which banks use for lending to...
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...
Random Reflections- How Banks in India have contributed to Inequality?
As per Oxfam Inequality Report 2019, India’s bottom 60% have 4.8% of the wealth whereas the top 10% own 77.4% of the wealth. The bottom 60% have only 5.1% of wealth whereas the top...
SBI decides to withdraw penalties for not maintaining minimum balance & charges for SMS alerts
FAN India welcomes SBI’s decision of removing the penalty for not maintaining minimum balance and charges for SMS alerts. Other banks should also follow and withdraw all bank charges immediately. Click here to watch...
Random Reflections- Role of Village Industries, MSMEs & Small Traders in the Revival of the Economy
COVID-19 has affected the entire economy. Hence the revival needs government intervention. After all the taxes collected from people are to provide services to the people. Reviving the economy will bring more taxes. In...
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...
Random Reflections : NABARD, SIDBI, IFC and National Housing Bank can turnaround the Economy
After nationalisation of 14 banks in 1969 and 6 banks in 1980, formation of National Bank for Agriculture and Rural Development on July 12, 1982 was a milestone or master stroke by Mrs. Indira...
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