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Public Banks: Dressing up for the market
22 January, 2018, C.P. Chandrasekhar
The government’s ambitious plan to recapitalise public sector banks that have recorded losses with resources from the Budget is an attempt to dress them up before taking them to the market.
The Airtel-Aadhaar Fix
10 January, 2018, C.P. Chandrasekhar
Airtel is let off lightly by the government despite being in clear violation of the law in a case that exposes the flaws and dangers in the ecosystem surrounding Aadhaar.
The Demise of Bank Credit
02 January, 2018, C.P. Chandrasekhar & Jayati Ghosh
Growing economies generally show increasing deployment of bank credit – but in India this has been decreasing for years and recently has been almost flat. What does this suggest about the growth process and the health of the Indian economy?
Banks And Non-Performing Assets
28 November, 2017, Prabhat Patnaik
What exactly constitutes a non-performing asset (NPA) of a bank is not easy to determine. Since banks tend to roll over credit to borrowers, whether the request for such a roll over arises in the normal course of business or owing to a fundamental inability to pay back the loan, is difficult to decide.
Wicked Loans and Bad Banks
08 March, 2017, C.P. Chandrasekhar
A trail of defaults is ensuring that the NPA ratio is not stabilising, as the RBI expected it would, once assets misclassified as restructured and standard are recognised as non-performing.
Power: The web of debt
03 February, 2017, C.P. Chandrasekhar
Caught in a peculiar web of debt, Jharkhand defaults on payments for power making the aim of NDA government’s scheme UDAY, announced with much fanfare, remain unrealised.
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.
Demonetization as the Basis for a Fiscal Stimulus
07 December, 2016, Prabhat Patnaik
What the BJP spokespersons are putting forward that the cash which gets disabled in the black economy would enable the government to spend more on infrastructure or provide cash transfers to the people is sheer deception.
Finance Capital and the Nature of Capitalism in India Today
25 November, 2016, C.P. Chandrasekhar
This article explains how the growing dependence on foreign finance capital has distorted India’s growth. Due to the accumulated presence of foreign capital in the country since liberalisation, it is turning moribund and losing sovereignty.
The Real Banking Problem
12 July, 2016, C.P. Chandrasekhar & Jayati Ghosh
Recognizing bad assets and writing them off may not resolve the banking problem, since the new financial order requires banks to lend to those who seem more prone to default.
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.
Ruling out Default by Definition
22 February, 2013, C.P. Chandrasekhar
The loan recovery process initiated by Kingfisher Airlines' lenders at a significant haircut may be not the last instance of large losses to be suffered by the banking system.
How Safe are India's Banks?
30 October, 2012, C.P. Chandrasekhar
The NPA figures on the books of the scheduled commercial banks seem to be gross underestimates given the recent debt restructurings involving a number of large borrowers.
The Chinese Way
24 February, 2012, C.P. Chandrasekhar
Although the use of the banking system as a development instrumentality in China has been useful, there are a host of new problems that has cropped up. This would possibly encourage the government to retrace its steps and strike a new path.
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.
The Changing World of Corporate Finance
30 November, 2007, C.P. Chandrasekhar
The unprecedented bull run on the Bombay stock exchange which took the Sensex beyond consecutive 1000-point hurdles in a matter of days rather than weeks or months has little to do with economic fundamentals. Rather, huge foreign capital inflows over a short period of time have pushed up equity valuations to levels that would normally be considered unsustainable.
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.
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.

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