Capital Market

Capital market articles published by Hemindra Hazari

State Bank of India (SBI), India’s largest bank, became even larger with the merger of its five commercial banking subsidiaries on April 1, 2017. Leading up to the All Fool’s Day merger, in mid-February 2017, finance minister Arun Jaitley was confident the step would make the bank a global player; a month...
Hemindra Hazari 20 March 2017 After the BJP’s decisive victory in the Uttar Pradesh (UP) state elections, alarm bells have started tolling in the capital market. The primary cause for concern is the BJP’s promise to the UP electorate to waive off all farm loans and provide fresh loans at zero percent interest. Capital market...
Hemindra Hazari 17 February 2017 Historically, India’s net oil subsidy was nothing but a myth after factoring in taxes on petroleum products. But in the last two years, as oil prices declined internationally, the government went further and shifted to an oppressive regime of punitive oil taxes. In earlier years,...
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It is curious that the first step of a reform-minded Chicago-school scholar was to announce a subsidy. Of course, unlike the subsidies that Rajan criticised as chairman of the Committee on Financial Sector Reforms in September 2008, this subsidy would go not to low income sections of the population, but to the banks.
Hemindra Hazari In the ongoing demonetisation saga, the credibility of India’s central bank keeps plunging to new depths. Repeated contradictory notifications, restrictions on cash withdrawal of deposits, inadequacy of new notes to replace the withdrawn high denomination notes, and a complete lack of transparency are just a handful of examples....