EXECUTIVE SUMMARY
The press statement issued by ICICI Bank based on the enquiry report headed by Justice (Retd.) Srikrishna to investigate the allegations against Chanda Kochhar appears deliberately confusing and convoluted. While it states that Chanda Kochhar was in violation of the bank’s Code of Conduct, on the more serious charge of...
EXECUTIVE SUMMARY. The Indian prime minister’s announcement that India had destroyed a ‘low-earth orbit’ satellite with a missile, and thus joined an elite club, suggests that the ruling party is desperate to deflect the voters’ attention from the dire economic situation in India. This desperation points to a reality...
Philippine-Military-22Nov1990-BPODownload
Does anyone remember why India opened up the insurance sector to private, including foreign, investment at the start of this century?
A quarter of a century has passed since then. At the time, the government claimed that private sector/foreign investment in the life insurance sector would accelerate life insurance penetration...
BiharCausticBPO14Sep1992.bmpDownload
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.
It is a commonplace that banks are a proxy for the economy. When the economy does poorly, one would expect banks to do poorly, since their main activity is intermediating funds between lenders and borrowers, and it is harder to find good borrowers when the economy is stalling.
With India’s...
EXECUTIVE SUMMARY
Post the downing of the Indian Air Force (IAF) MIG-21 by Pakistan over its territory and the capture and subsequent return of the pilot, the narrative which was strongly in favour of Narendra Modi and the ruling Bharatiya Janata Party (BJP) rapidly spiralled downwards. Whether the Pakistan Air...
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contradictory notifications, restrictions on cash withdrawal of deposits, inadequacy of new notes to replace the withdrawn high denomination notes, and a complete lack of transparency are just a handful of examples....
A high-profile bank collapses on account of high-risk, bulky non-performing corporate loans. With the intervention of the Reserve Bank of India (RBI), the errant bank gets bailed out, and the RBI nominates two directors to the board. The new management and the restructured board of directors would then take...
