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Andrew Cornford
Saturday 02 June, 2018
Andrew Cornford enlists a bibliography on finance and related aspects such as financial risk management and regulation, including the broader intellectual and political contexts of various subjects.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 15 May, 2018
Neo-liberal banking reform was launched in the early 1990s to address the low profitability of the public banking system and the large presence of non-performing assets. It set itself the objectives of cleaning out NPAs, recapitalising the banks and modifying banking practices to restore profitability and drastically reduce NPA volumes. This did initially have some effect. However, while the NPA ratio fell between the early 1990s and the mid-2000s, it has risen sharply since then. Moreover, while earlier priority and non-priority loans contributed equally to total NPAs, more recently, large non-priority loans to the corporate sector account for the bulk of NPAs. An analysis of these features reveals that these trends are indicative of the failure of neo-liberal banking reform in India.
Alejandro Vanoli
Friday 27 April, 2018
This article traces the context in which this author served Argentina as both the chairman of the Central Bank of Argentina and former chairman of Securities and Exchange Commission of Argentina. As described, the efforts necessary for a country such as Argentina to achieve and maintain financial sovereignty are almost as great as the forces opposing such a possibility. While focusing on the specific case of Argentina and pertaining to a specific time in its history, this article offers insights that hopefully can lead to a better understanding of the global forces that condition the management of national economies in the contemporary world.
Wednesday 11 April, 2018
The 2008 economic crisis, which often is appraised only as a “financial crisis”, has in fact acquired a manifold character involving the socio-economic structures at worldwide level. Indeed, the crisis was triggered in the financial sector ─ in particular, with the crisis of the subprime mortgage market in the US, which ended up in a general banking crisis and the bankruptcy among many other institutions, and of the investment bank Lehman Brothers.
Y.V. Reddy
Friday 09 March, 2018
This includes the text of the KLN Prasad Memorial Lecture that was delivered by Y V Reddy at the Administrative Staff College of India, Hyderabad on 1st February 2018.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 30 January, 2018
Indian banking today is at a tipping point. Banks are burdened with non-performing assets, incurring significant losses due to provisioning and unable to sustain credit growth, and therefore changes are both necessary and inevitable.
Prasenjit Bose,Zico Dasgupta,Rohit Azad
Monday 07 August, 2017
The Indian growth story of the 2000s’ cannot be over-simplistically explained as a result of “market-oriented” reforms. Public sector bank credit-financed investments, particularly in the infrastructure sector, played a significant role in sustaining growth, most crucially after the global economic crisis. Such a growth trajectory, however, proved to be unsustainable with the expansionary phase coming to an end in 2011–12 and bad loans piling up in the banking system.
Thomas Franco
Friday 19 May, 2017
Three proposals from three agencies related to the banking sector have come under the spotlight in the media. An MoU with the Department of Financial Services, GOI on a turnaround plan to justify infusion of new capital...
Andrew Cornford
Thursday 18 May, 2017
Banking reforms to regulate the financial sector have broadly remained inadequate. In the book reviewed, Shirreff proposes the legal separation of banking activities into three groups, a return to unlimited liability for partners in investment banks and caps on total remuneration as the radical and effective steps needed to stabilise the sector. He also favours scrapping of Basel I and II norms and the application of a financial transaction tax. The global applicability and acceptance of these proposals, however, remains uncertain.
C.P. Chandrasekhar,Jayati Ghosh
Tuesday 11 April, 2017
After four decades of financial reform China’s banking sector is still dominated by publicly owned institutions. But continuity in ownership does not mean that banking behaviour does not change.
 

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