Category Archives: Commentary

Your Money in Bank is not Safe!

If Narendra Modi and Arun Jaitley get their way then when next time some bank will fail in India they will be legally allowed to confiscate all your hard earned saving, that you have deposited in that bank in the form of savings or term deposit accounts etc., to rescue themselves. Because doing so will […]

Can India avoid becoming the next Pakistan?

Pakistan faces two major external foes. One is India, whose economy is eight-times larger, and hence has a much higher capacity to finance the military. The other external foe is the existence of Afghanistan, a chaotic bunch of tribes that is a country only on the map. In trying to tame it, the USSR faced […]

Employee Provident Fund Organization of India is Near Bankruptcy

The Employee Provident Fund Organization of India (EPFO) is warning of its bankruptcy over the issue of increased outflow by the pensioners! The newspapers are reporting that, The Employees’ Provident Fund Organisation (EPFO) may find it impossible to resist attempts by subscribers to inflate their pension entitlements to levels far beyond its capacity to provide […]

Moody’s and Modi

Moodys

US based bond credit rating agency Moody’s upgraded Indian government’s bond rating from Baa3 to Baa2. This is one level up from their lowest rating grade. They have changed their outlook of the Indian economy from positive to stable with this upgrade. Modi government ministers and its supporters are terming this upgrade as an endorsement […]

2.11 lakh crore for PSU Banks to Boost Lending

The finance minister of India Mr. Arun Jaitley announced a bailout package of 2.11 lakh crore (US$ 2.11 Trillion) for the public sector banks of India yesterday saying that this will boost their lending activities, which is right now under pressure because of their huge non-performing assets (default loans). The logic behind boosting lending of […]