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.
Through film, textile, scent, sound, and gesture, spectators are invited to descend into an immersive environment where inherited knowledge seeps through material and form.
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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.