Deposit-taking institutions run risk of getting sucked into vortex of mistrust. More reliable banks may see rush of deposits away from second-tier lenders.
Pity none of the well-behaved guests attempted India’s favourite 'Nagin dance' when Italian brand Bvlgari 'saap' slithered through The Art House in Mumbai.
According to the Niti Aayog quarter trade watch report launched Monday, India’s total trade in FY 2025 was at US$1.73 trillion—exports at US$823 billion & imports US$908 billion.
In July, India & UK had announced a defence industrial roadmap that mentioned Jet Engine Advanced Core Technologies Innovation and co-development as a key priority.
Pakistan’s army has been a rentier force available to a reasonable bidder. It has never come to the aid of any Muslims including Palestinians or the Gazans, except making noises here and there.
1. PMC Bank’s problems are similar to those faced by many cooperative banks. Is it not true that management control of many cooperative banks is in hands of influential politicians and the subservient bureaucracy? Those in control of banks are always ready to be of assistance of fraudsters who are experts in unethical job of diverting funds to borrowers whose credit worthiness is doubtful. This has been happening for years and it appears that Reserve Bank of India too is helpless. 2. Basic purpose of promoting cooperatives is perfectly okay but in actual practice, politicians, ably supported by bureaucrats, control most of the cooperative banks and other cooperative enterprises like Sugar and Milk cooperatives. This is the truth. It is necessary to mention here that ineffective annual audit of most of the cooperative institutions is a major lacuna. This deficiency is further underscored when such audits are supervised by the Central Registrar of Cooperative Societies with its headquarters in New Delhi. The mess in PMC Bank is just one example of cooperatives’ mismanagement. It will certainly not be the last.
The RBI is like the cuckold who is the last person in town to learn of his wife’s infidelity. Most of the time it is cutting rates or serving as ATM for the fisc. A recent Governor bemoaned that it had little effective control over the PSBs, directly under Delhi’s supervision. On cooperative banks, it defers to the state governments. 2. Anyone who knows anything about Bombay’s real estate knows what HDIL stands for. India Bulls is another politics dense institution. If there are “ kacha chitchat “ on everyone of note, why not on these dodgy institutions that can take the financial system down.
1. PMC Bank’s problems are similar to those faced by many cooperative banks. Is it not true that management control of many cooperative banks is in hands of influential politicians and the subservient bureaucracy? Those in control of banks are always ready to be of assistance of fraudsters who are experts in unethical job of diverting funds to borrowers whose credit worthiness is doubtful. This has been happening for years and it appears that Reserve Bank of India too is helpless. 2. Basic purpose of promoting cooperatives is perfectly okay but in actual practice, politicians, ably supported by bureaucrats, control most of the cooperative banks and other cooperative enterprises like Sugar and Milk cooperatives. This is the truth. It is necessary to mention here that ineffective annual audit of most of the cooperative institutions is a major lacuna. This deficiency is further underscored when such audits are supervised by the Central Registrar of Cooperative Societies with its headquarters in New Delhi. The mess in PMC Bank is just one example of cooperatives’ mismanagement. It will certainly not be the last.
The RBI is like the cuckold who is the last person in town to learn of his wife’s infidelity. Most of the time it is cutting rates or serving as ATM for the fisc. A recent Governor bemoaned that it had little effective control over the PSBs, directly under Delhi’s supervision. On cooperative banks, it defers to the state governments. 2. Anyone who knows anything about Bombay’s real estate knows what HDIL stands for. India Bulls is another politics dense institution. If there are “ kacha chitchat “ on everyone of note, why not on these dodgy institutions that can take the financial system down.
… kacha chitthas, what would in officialise be known as dossiers.