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The Push for Privatizing Banks
11 June, 2018, Prabhat Patnaik
Historically, the push for bank privatization which has gathered momentum with a rise in tendencies to take to neo-liberal policies. The arguments for privatization have been put forward time and time again, depending on economic circumstances. As international finance capital demands outright privatization to control financial resources and popularizes the conception of social interest best served through free finance, the NPA crisis in India has become the justification of the day.
Indian Banking: Current Challenges & Alternatives for the Future
30 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Indian banking today is at a tipping point. Banks are burdened with non-performing assets, incurring significant losses due to provisioning and unable to sustain credit growth, and therefore changes are both necessary and inevitable.....
The Illusion of an Economic Spring
17 May, 2017, C.P. Chandrasekhar
While policy makers, analysts and observers paint a picture of an ongoing global economic recovery, the numbers seem to drag the optimists down.
Bad Bank Proposal for India
15 March, 2017, Sabri Oncu
The authorís bad bank proposal for India would be capitalised with zero coupon perpetual bonds the government would issue and would give the country some breathing time so that she can attack and tackle all her other problems.
Banks as victims
17 December, 2016, C.P. Chandrasekhar
The damage to the reputation of banks and its employees, which and who have been victims of the engineered cash shortage, is likely to be aggravated by the adverse effects the demonetisation may have for the already damaged profit and loss accounts and balance sheets of the banks.
The Sources of Bank Vulnerability
05 March, 2014, C.P. Chandrasekhar
Higher NPAs in the public sector banks of India is a consequence of the liberalisation agenda pursued by the government rather than the failure of the bank managers.
The "Remaking" of Indian Banking
29 November, 2013, C.P. Chandrasekhar
There is little innovation in the nature of the financial reform that the present RBI governor recommends. These are all proposals that have been unveiled in the past.
The Looming Banking Crisis
04 September, 2013, C.P. Chandrasekhar & Jayati Ghosh
The crisis engulfing the Indian economy is expected to affect the corporates and the infrastructural projects burdened with large debt, impacting the Indian banking sector.
Banking as the New Frontier
14 June, 2013, C.P. Chandrasekhar & Jayati Ghosh
While liberalisation was expected to encourage Indian financial sector diversification, the actual experience has been different.
The Slow Regress in Banking
12 June, 2013, C.P. Chandrasekhar
By issuing new guidelines, the RBI has sought to ring-fence banking activity, to ensure regulatory control and keep the number of new entrants low and their intent clean.
India's Schizophrenic Banks
29 June, 2011, C.P. Chandrasekhar & Jayati Ghosh
In a move that is commendable, the Reserve Bank of India (RBI) has decided to continue with its recent practice of issuing periodic Financial Stability Reports (FSRs), or assessments of the strength and resilience of the financial system. Last year, reports were issued in March and December.
Going after the Little Guys
13 January, 2011, Jayati Ghosh
In order to control their large volume of non-performing assets (most of which are loans made to large corporate houses), several commercial banks in India are selling off their small NPA accounts to private players at a large discount. By doing so, the banks are indirectly putting great pressure on the small scale producers, the middle class families and other similar groups for repayment instead of the large defaulters.
Central Banking in an Uncertain Age
07 October, 2009, Jayati Ghosh
The recent book written by the previous Governor of the RBI Dr. Y. V. Reddy describes the challenges of central banking in these complicated times. It provides a reasoned critique of policies of unnecessary deregulation and highlights the need for balance and for recognising the requirements of the development project. The validity of these arguments has been effectively underlined by the overall resilience of Indian banking during the global financial crisis of the past year.
Has a Global Contagion Affected Indian Finance?
24 April, 2009, C.P. Chandrasekhar
One probable reason why the recently released report of the Financial Sector Assessment Programme could not attract due attention is that the very assumption of the benefits of financial integration, on which the FSAP is anchored, is nullified by the current recession in the real economy. However, as this article shows, the report helps in a better understanding of the effect of the global recession on the Indian financial system.
In Search of a Real Stimulus
11 December, 2008, Jayati Ghosh
Now that the economic slowdown is clearly making itself felt in both economic activity and employment, the central government has finally decided to do something about it. The trouble is that the economic package announced on Sunday is simply too feeble to go very far and, even combined with the monetary policy measures announced earlier
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.
Convertibility: Road Map for Whom?
14 September, 2006, C.P. Chandrasekhar
The Reserve Bank of India has released the report of the special Committee on Fuller Capital Account Convertibility, which was constituted to revisit the issue of making the rupee convertible for capital account transactions. The recommendation of the FCAC committee to push ahead with capital account liberalisation, even in phases and with some caution, seems as unwarranted today as it was in 1997.
Whatever is Happening to Indian Banking?
15 March, 2005, C.P. Chandrasekhar
Currently, banks seem to be the prime targets of the government's reforming zeal. Having encouraged foreign acquisition, consolidation and universalization in the banking system, the Finance Ministry's current thrust seems to be to find a host of new areas of activity for these institutions.
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.
Globalised Fraud, not Global Trust
29 July, 2004, C.P. Chandrasekhar
On July 26, hapless depositors in ''new-generation'' Global Trust Bank (GTB) discovered from the tickers at the bottom of their television screens that their money was no longer their own - at least for the next three months.

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