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Banking on Home Builders
14 July, 2007, C.P. Chandrasekhar
Banking in India is changing face, looking to the mortgage market and personal debt as the route to profit. Having been permitted, in fact encouraged, to chase profits in markets that were restricted earlier and with instruments that were rare or non-existent, banks are choosing to change their portfolios rather sharply.
The Potential Fall-out of Basel II
03 March, 2007, C.P. Chandrasekhar & Jayati Ghosh
The point to note is that using external (or at a later stage, internally generated) ratings to decide the appropriate risk-weights to assesses capital adequacy, inevitably requires providing banks with a greater degree of flexibility in deciding their lending patterns based on pure profit considerations. This makes it difficult to simultaneously implement a banking policy that seeks to direct a proportion of lending to specified sectors taking into account growth and equity objectives.
Borrowed Prosperity
29 May, 2006, C.P. Chandrasekhar
Everyone belonging to India's middle and upper classes has experienced its effects, but there are few analysing its implications. The country has been through a retail credit transition, making it a haven for the would-be borrower relentlessly pursued by the would-be lender through the media, the cell phone, mailers and direct contact. Near-100 per cent credit with no guarantees required and interest rate rebates on larger loans of longer duration is almost the norm.
Courting Risk: Policy Manoeuvres on FII Inflows
14 February, 2006, C.P. Chandrasekhar
The evidence is stark and incontrovertible. In the period since April 2003, India has witnessed an extraordinary surge in foreign institutional investments. Having averaged $1776 million a year during 1993-94 to 1997-98, net FII investment dipped to an average of $295 million during 1997-99, influenced no doubt by the Southeast Asian crisis. The average rose again to $1829 million during 1999-2000 to 2001-02 only to fall $377 million in 2002-03.
Bank Credit: A Reassertion of Priorities?
14 October, 2005, C.P. Chandrasekhar
Democracy yields many dividends. Important among them is the pressure on governments, however neo-liberal in inclination, to pay heed to sentiments that can determine political legitimacy and make a difference to electoral outcome
Bank Nationalisation: The Record
21 July, 2005, Jayati Ghosh
Financial sector and banking reforms in the past decade have undermined priority sector lending and reduced the geographical spread of banks. Clearly, the objectives that bank nationalisation sought to meet are more pressing and urgent than ever, and they can only be achieved by a banking sector that is under the broad direction of an accountable state.
Foreign Capital: Too Much for Comfort
18 March, 2005, C.P. Chandrasekhar
It is official now. The recently released Report on Currency and Finance 2003-04 of the Reserve Bank of India recognises that, if not managed appropriately managed, the surge in capital inflows into India could trigger a future financial crisis.
The Changing Colours of Money
13 January, 2005, Jayati Ghosh
There are several myths about economics that have proved to be very hard to dislodge, despite theoretical proof and empirical evidence that directly contradict them. One such myth is that governments can control money supply.
The Continuing Possibilities of Land Reform
23 November, 2004, C.P. Chandrasekhar & Jayati Ghosh
There was a long period during which land reforms had completely dropped from the national policy agenda, and even from the policy discussions of most state governments. Not only were there seemingly insuperable barriers, but it was made to appear that land reforms were unlikely to deliver much in terms of growth or productivity.
Bank Reforms in India: The Effect on Farmers
27 October, 2004, Sukanta Dasgupta
It is now widely recognised that access to credit is critical for cultivators operating in a market setting. One of the important - and moderately successful - aims of bank nationalisation more than 30 years ago, was to provide institutional credit to agriculture, which until then had been severely neglected by bankers.
The End of Development Finance
17 March, 2004,
Close to two years back, on March 30 2002, the Industrial Credit and Investment Corporation of India (ICICI) was through a reverse merger, integrated with ICICI Bank. That was the beginning of a process that is leading to the demise of development finance in the country.
Bank Reform and the Rural Sector
20 January, 2004,
In the period before the nationalisation of banks, key sectors of the economy including agriculture remained thoroughly neglected in terms of availability of institutional credit.

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