Former RBI governor Raghuram Rajan in a note to a parliamentary panel said slow decision-making and over-optimism among bankers aggravated the bad loan problem....
Clean energy is “no longer the sideshow, it is the show”, BVR Subrahmanyam told the Odisha summit, warning India to lead the global shift or risk others’ tech dominance.
Dubai airshow crash & pilot death have rekindled concerns over pilot safety, and need for smarter automated systems that can step in when G-forces, temporary loss of consciousness hit the pilot.
None of Pakistan’s PMs has lasted 5 years. That the current PM has given Asim Munir 5 years shows that of all military dictatorships history has seen, Pakistan’s is most creative.
Last four years “not a happy things” happens in Mr. Modi’s administration, with lot of expectations people vote for him but he disappointed all of us . The grate damage is not only our economy but also to our Democratic, and autonomy of RBI, CBI.
From whatever little I understand of Economics, Modi government is trying to set up a giant PONZI Scheme. 3 lakh crores which it is trying to get out of RBI is peanuts to support any national level development. With this amount, businesses, small and big, will borrow from banks only to HONOR their INTEREST payment obligations. Hence they will postpone getting branded as NPAs. But more interest will become payable AGAIN three or six months down the line. In engineering parlance, this is called a “positive feedback loop”.
Borrowings out of this 3 lakh crores will not be sufficient to set up additional capacities for all the borrowers, which could generate more output, more profit, which could be used to GRADUALLY lessen each one’s borrowings and hence each one’s interest payment requirements.
Are we headed for a systemic collapse? Will that be the unique contribution of Mr Modi who came in on the pretext of doing Vikas, and we believed him? I hope my understanding of Economics is all wrong; I desperately hope I’m proved wrong.
For someone on the Board of the RBI, gentleman has some interesting views. 2. More seriously, the RBI’s reserves are not in fact 27% of its assets, more like 7%, against a global norm of 12%. This has been explained by a number of experts. In layman’s terms, what is looking like reserves is really unrealised profits on gold and foreign exchange. 3. At the end of a full term in office, the constant refrain of blaming the predecessor – not always correctly – for what is wrong begins to grate. One does not recall President Barack Obama, once the campaign was over and done with, blaming President George Bush for the global financial crisis, or the wars in Iraq and Afghanistan. The American people elected him to fix things that looked broken. He claimed to have the competence to get the job done. They trusted him, and he delivered, sufficiently to get elected to a second term and then to leave with very high approval ratings.
Last four years “not a happy things” happens in Mr. Modi’s administration, with lot of expectations people vote for him but he disappointed all of us . The grate damage is not only our economy but also to our Democratic, and autonomy of RBI, CBI.
From whatever little I understand of Economics, Modi government is trying to set up a giant PONZI Scheme. 3 lakh crores which it is trying to get out of RBI is peanuts to support any national level development. With this amount, businesses, small and big, will borrow from banks only to HONOR their INTEREST payment obligations. Hence they will postpone getting branded as NPAs. But more interest will become payable AGAIN three or six months down the line. In engineering parlance, this is called a “positive feedback loop”.
Borrowings out of this 3 lakh crores will not be sufficient to set up additional capacities for all the borrowers, which could generate more output, more profit, which could be used to GRADUALLY lessen each one’s borrowings and hence each one’s interest payment requirements.
Are we headed for a systemic collapse? Will that be the unique contribution of Mr Modi who came in on the pretext of doing Vikas, and we believed him? I hope my understanding of Economics is all wrong; I desperately hope I’m proved wrong.
For someone on the Board of the RBI, gentleman has some interesting views. 2. More seriously, the RBI’s reserves are not in fact 27% of its assets, more like 7%, against a global norm of 12%. This has been explained by a number of experts. In layman’s terms, what is looking like reserves is really unrealised profits on gold and foreign exchange. 3. At the end of a full term in office, the constant refrain of blaming the predecessor – not always correctly – for what is wrong begins to grate. One does not recall President Barack Obama, once the campaign was over and done with, blaming President George Bush for the global financial crisis, or the wars in Iraq and Afghanistan. The American people elected him to fix things that looked broken. He claimed to have the competence to get the job done. They trusted him, and he delivered, sufficiently to get elected to a second term and then to leave with very high approval ratings.
In my book of laissez faire economics, Gurumurthy is a quack.