Modi government is a term used to refer to the cabinet headed by Prime Minister Narendra Modi, the 14th Prime Minister of India. The government comprises members of Bharatiya Janta Party (BJP)-led NDA.
Harsh Mander’s case hearing and the deeply divided debate it sparked shows the fault lines Indian judiciary has to tread in these politically charged times.
Canada-based economics professor's study finds that on the cost side, there is strong evidence that demonetisation reduced employment, especially in informal sector.
India now has 28 confirmed coronavirus cases. In recent months, the relationship between the Centre and the states has seen a breakdown over several issues.
States with electricity utilities losing more than 15% of revenue due to archaic networks, power theft & sloppy billing, collections will be pushed to privatise.
Either Modi govt is expecting a revenue windfall that will be passed on to states, or states will be squeezed even further. My guess is it will be the latter.
Israeli Prime Minister Benjamin Netanyahu has no intention of being drawn into another attritional war with Hezbollah. His commanders they are unlikely to win.
Under this model, battery is provided to EV owners on a subscription basis or lease. With more people open to buying EV cars, the lower upfront cost could likely drive wider acceptance.
The armoured platform is India's first amphibious infantry combat wheeled vehicle. Last year, the Royal Moroccan Armed Forces had procured 90 military trucks from the Tata Group.
How come Indonesia, Malaysia, Turkey and Sri Lanka remain constitutional, democratic and stable despite Islam and Buddhism respectively, but Pakistan, Bangladesh and Myanmar don’t?
Yes, fresh banking reforms are needed. IBC was a good start, but it is not end in itself. It amounts to treating a patient after he has been infected with COVID 19 virus. What is required is a preventive mechanism to ensure recurrence of such bank failures in future. These could include the following:
(1) Banking is essentially a dull and boring business. There is no space for the spectacular things and superstars in banking. Such personalities quite often end up with fate of Ramesh Gelli, Rana Kapoor or their likes. If Yes Bank was growing at a breakneck speed of 35% per annum, it should be cause of suspicion and apprehension and not of celebration. Why RBI woke up so late is a moot point. RBI has to review its licensing policy. Banks should be institutionally backed and cannot be a creation of individuals.
(2) There is a strong case for strengthening control of RBI on sanction of large loans given to big corporates. RBI should prepare list of big industrial groups whose performance or failure can impact the economy and strictly control and monitor indebtedness of these large groups. No bank should sanction loans to these groups individually and additions , if any, in their indebtedness should be informed to RBI. If necessary, RBI should go through appraisal notes of these loan proposals.
(3) General Purpose Corporate Loans is a loan product that should be used sparingly. Terms have to project backed. Yes Bank is failed to the blatant misuse of these type loans to inflate their loan portfolio.
When share holders approve for change of management and new owners take over, they inherit both good and bad legacies. The new management cannot simply take credit for good legacy, tweek it to make it better, they also should take care of bad ones and take steps to correct them instead of using as shield to cover up failures. The present government is using bad legacy as a shield to cover and use it to blame previous regime. On YES Bank, they are yet to explain hoe bad loans increased during their rule. It is fact all defaulters have contributed funds to ruling party.
Yes, fresh banking reforms are needed. IBC was a good start, but it is not end in itself. It amounts to treating a patient after he has been infected with COVID 19 virus. What is required is a preventive mechanism to ensure recurrence of such bank failures in future. These could include the following:
(1) Banking is essentially a dull and boring business. There is no space for the spectacular things and superstars in banking. Such personalities quite often end up with fate of Ramesh Gelli, Rana Kapoor or their likes. If Yes Bank was growing at a breakneck speed of 35% per annum, it should be cause of suspicion and apprehension and not of celebration. Why RBI woke up so late is a moot point. RBI has to review its licensing policy. Banks should be institutionally backed and cannot be a creation of individuals.
(2) There is a strong case for strengthening control of RBI on sanction of large loans given to big corporates. RBI should prepare list of big industrial groups whose performance or failure can impact the economy and strictly control and monitor indebtedness of these large groups. No bank should sanction loans to these groups individually and additions , if any, in their indebtedness should be informed to RBI. If necessary, RBI should go through appraisal notes of these loan proposals.
(3) General Purpose Corporate Loans is a loan product that should be used sparingly. Terms have to project backed. Yes Bank is failed to the blatant misuse of these type loans to inflate their loan portfolio.
When share holders approve for change of management and new owners take over, they inherit both good and bad legacies. The new management cannot simply take credit for good legacy, tweek it to make it better, they also should take care of bad ones and take steps to correct them instead of using as shield to cover up failures. The present government is using bad legacy as a shield to cover and use it to blame previous regime. On YES Bank, they are yet to explain hoe bad loans increased during their rule. It is fact all defaulters have contributed funds to ruling party.