Citizens' Issues
Public Interest Exclusive
Debashis Basu gets this year’s Shriram Sanlam Award for Excellence in Financial Journalism

Moneylife's Editor Debashis Basu received the Shriram Sanlam Award for his columns in Business Standard


Debashis Basu, Editor and Publisher of Moneylife as well as Founder-Trustee of Moneylife Foundation was on Friday felicited with the Shriram Sanlam Award for Excellence in Financial Journalism. He received this Award for his weekly columns in Business Standard. The Award is given by Shriram Group and South Africa's Sanlam Group.
Mr Basu was felicitated in the presence of Railway Minister Suresh Prabhu, Gideon Rachman, Chief Foreign Affairs Commentator of Financial Times and Ajay Piramal, Chairman of Shriram Capital Ltd in New Delhi. Several prominent personalities from the world of banking and finance including regulators and corporate India were present during the Award presentation.
Mr Basu received the Award for his column “A Swachh Financial Sector Abhiyan?” published in the Business Standard on 16 November 2014.  In the column, Mr Basu discussed about Financial Sector Legislative Reforms Commission (FSLRC), another initiative from the United Progressive Alliance (UPA) government that Prime Minister Narendra Modi was keen to adopt and implement.
Shriram Sanlam Awards for Excellence in Financial Journalism was instituted in 2012 by Shriram Capital in association with Chennai-based Institute for Financial Management and Research (IFMR). Each Category Winner receives a cash prize of Rs1 lakh along with a citation.
Commenting on the Awards, GS Sundararajan, Wholetime Director, Shriram Capital, "The winners of Shriram Sanlam Awards for Excellence in Financial Journalism 2014 represent the best of that fraternity.  Shriram Capital and Sanlam recognize that the potential of Financial Journalism and the positive impact it can create to the economy as a whole. These awards are aimed at encouraging a transformational approach to Financial Journalism in the medium term."
TCA Srinivasa Raghavan was conferred with the prestigious Lifetime Achievement Award and AV Rajwade was conferred with the special Hall Of Fame Award at the 3rd Edition of the Shriram Sanlam Awards for Excellence in Financial Journalism by Mr Prabhu.
"Today, the world desperately needs good, credible Financial Journalism with quality compelling content. Business and Financial journalists are an important source of knowledge on what is happening in the BSFI sector and have a great influence on the views of key players, decision makers, influencers as well as their readers. Economic and business stories now move at a digitally driven speed that does not allow as much time for comprehension, let alone reflection. Radical changes and dynamic developments emphasise the need to stand still, think and ponder. There is a pressing need to recognise those pearls of journalistic wisdom that stimulate the much-needed change in the thought process of the corporate world. After all, a business journalist is an instrument of change and an influencer of influential!" Shriram Capital says about the objective behind these Awards.
(Ian Kirk, Deputy CEO, Sanlam Group, TN Ninan and Ajay Piramal (Centre) with all the Winners of the Shriram Sanlam Awards for Excellence in Financial Journalism 2014)
Here are the Winners from different categories this year…

1. Economic Policy - No Winner Announced
2. Financial Markets -Winner : Debashis Basu , Runner Up -: Devangshu Datta
3. Financial Institutions - Winner: Raghu Mohan, Runner Up: Atmadip Ray & M Rajshekhar
4. Sectoral Issues - Winner:  Aarati Krishnan , Runner Up : Goutam Das & N Madhavan
Mr Basu while expressing gratitude to the Shriram group for sponsoring the Award and the jury members for selecting him, said, "My heartfelt gratitude to the anonymous soul who nominated me, or anyone else who may have been behind me getting this award. Winning an award was never in my mind. My first article appeared in May 1984, exactly 31 years ago. After three decades, people do get jaded and bored. This award will inspire me all over again to plug away in the years to come."




Sreekanth Yelicherla

1 year ago


Dharmesh Sampat

1 year ago

Dear Debashis Sir,

Heartiest Congratulations to you for the award.

We are very lucky to read your columns and get real insight into policy matters related to Financial sectors in the columns of Business Standard and also understand Personal Finance in stories of Moneylife.

There are very few people who would be visionary like you and bring the truth to the masses.

In today's era of compromised media, you are a major pillar & guide to the masses.

Your articles in Business Standard on Policy matters are benchmark for me to gauge the work of Establishment.

There are rarely any journalists who have such deep insight into the policy matters & bring out before the public. We are privileged to have you to have always enlighten us on a complex subject of Financial policy.

I also want to express my gratitude for giving us a platform of Moneylife; Moneylife Foundation.
With regards to Moneylife stories & Moneylife Foundation, I would express my heart out in one term 'EMPOWERING THE AAM SAVER/INVESTOR'.

Yes, your columns in Moneylife and events of MLF make the ordinary saver 'EMPOWERED'. I strongly feel 'Empowered'. Else, an average saver/investor is left in lurch to feel helpless.

But your mission has empowered every such AAM INVESTOR & SAVER.

Every event in Moneylife foundation brings something new for the janta to learn and implement.

Be it your magazine, MSSN, Stock letters- Every bit of it has empowered the aam saver.

May you reach new heights !

The Aam Investor/saver shall always be indebted to you !


MG Warrier

1 year ago

Hearty congratulations to Debashis Basu. As a regular reader of Basu's column in Business Standard and Moneylife which he edits and contributes articles to, I am an admirer of the person who does not hesitate to express his views.


Debashis Basu

In Reply to MG Warrier 1 year ago

Thank you all for your very kind words. :)


1 year ago

Hope someone has the courage and wisdom to implement your well meaning ideas as well . . . Hearty Congrats Mr.Basu!!


1 year ago

Congratulations Mr.Basu. You and your team at Moneylife are a few of those honest but endangered species of your ilk.

You give hope for those who want to be honest.

I wish many more such awards for you as they encourage honesty and hence good for the society.


1 year ago

Hearty Congrats to shri Debashish Basu for his long overdue honour. He deserved that long back. However, better late than never. I wish him many more milestones to achieve in this colourful journey.
Best of luck to Moneylife.


Debashis Basu

In Reply to MOHAN SIROYA 1 year ago

Thank you sir :)

Harish Kohli

In Reply to Debashis Basu 1 year ago

My heartiest congratulations for the award. Sooner or later dedication is rewarded. Should have been sooner than later.

Nifty, Bank Nifty and Sensex struggling to rally – Weekly closing report
Nifty will remain on an uptrend, as long as, it stays above 8,150
The S&P BSE Sensex closed the week that ended on 15th May at 27,324 (up 219 points or 0.81%), while the NSE’s CNX Nifty closed at 8,262.35 (up 71 points or 0.86%). We had mentioned that Nifty may close the week positively, recovering some of its recent losses.
On Monday, the positive cues from US, which gave out data showing unemployment rate dropping to a near seven-year low of 5.4% and non-farm payrolls increased 223,000 in April 2015 boosted market sentiments. In line with Asian indices, domestic indices too closed in the green. Nifty closed at 8,325 (up 134 points or 1.63%).  Rating agency Moody's said credit conditions are likely to improve for rated Indian corporates over the next 12-18 months on the back of upturn in economic activities, government's reform push and transmission of monetary easing.
Nifty was pulled lower Tuesday with the news of insufficient progress on talks between debt-strapped Greece and its creditors and forecast by Japan confirming El Nino's to return this year. The return of El Nino will affect economies that are heavily dependent on agriculture, particularly India, which is already reeling from bad weather. Nifty closed at 8,127 (down 198 points or 2.38%). The Index of Industrial Production data for March 2015, stands at 197.3, 2.1% higher as compared to the level in the month of March 2014.
On Wednesday, Nifty closed at 8,235 (up 109 points or 1.34%). Consumer price index (CPI)-based retail inflation eased to a four-month low of 4.87% in April from a revised 5.25% in March, which created an anticipation of interest rate cut by Reserve Bank of India. Rating agency Moody's said monsoon and global financial volatility will pose additional risks to India's growth this year, but the GDP is likely to average around 7.5% over the next 18-24 months due to improvement in business environment induced by reforms.
Nifty closed Thursday lower, however, made an effort to move higher. Nifty closed at 8,224 (down 11 points or 0.14%). The wholesale price index (WPI) inflation stood at negative 2.65% in April 2015. WPI inflation was minus 2.33% in March 2015. Rating agency Moody's Investors Service said that of the non-financial and infrastructure corporates that it rates in India, the vast majority carry either positive or stable outlooks. The Supreme Court Thursday dismissed a batch of petitions filed by various telecom companies seeking extension of their spectrum licences.
With the positive momentum on most of the Asian bourses on Friday and the higher closing of the US indices on Thursday gave a boost to the domestic indices as well. Nifty closed at 8,262 (up 38 points or 0.46%). Initial jobless claims in the US decreased by 1,000 to a seasonally adjusted 264,000 in the week ended May 9. This is near a 15-year low. India Meteorological Department (IMD) on Thursday gave out its forecast that the southwest monsoon will hit the Kerala coast around 30 May.
Out of the 27 main sectors tracked by Moneylife, top five and the bottom five sectors for this week were:




1 year ago

looks like prices are rigged in jubilant food .The result announced is not that great.Market operators and manipulators using derivatives to rob in daylight from common traders.

'Tough times ahead for public sector banks'
Government-owned banks command a market share of around 70 percent
Government-owned mortgage lenders are suffering slippages in their non-performing assets (NPA) and would continue to lose business to private sector players till the Indian economy picks up, say experts.
"It is seen from the results declared by the government-owned banks they are continuing to suffer slippages in their NPA levels. Many banks are posting profits due to income from treasury operations and others," P.Karthikeyan, research analyst, Cholamandalam Investment and Finance Company Ltd, told IANS.
"The credit growth for banks remain muted. The NPA slippages have peaked out and should start coming down once the economy recovers and interest rates go down," he added.
According to Karthikeyan, the government-owned banks would lose market share to private banks in the meantime.
"Their profits would improve only from lower NPA when economy improves rather than increased business volumes. It would be difficult for government banks to regain from private banks the lost market share," he said.
Government-owned banks command a market share of around 70 percent.
Global credit rating agency Moody's Investors Service also expressed a similar view.
According to Moody's, the improvement in the credit profiles of Indian public sector banks will be achieved only in the medium term, given their high levels of impaired loans and weak capital positions.
"The improvement in the asset quality of Indian public sector banks for the fiscal year ended March 31, 2015, was marginal and much weaker than we had expected at the start of the same year," said Srikanth Vadlamani, a vice president and senior credit officer at Moody's.
Vadlamani was speaking at the first Moody's and ICRA Annual Credit Conference in Mumbai on Wednesday.
"A longer time-frame is needed for the credit profiles of public sector banks to improve, because their asset quality is tied to the slow, multi-year recovery of corporate balance sheets, and the lagging recognition of associated credit costs," he added.
According to Vadlamani, public sector banks exhibit significant capital requirements over the next few years, but their internal capital generation capacity is weak, while access to equity markets has been difficult.
The banks are therefore highly dependent on the Indian government (Baa3 positive) for fresh capital.
Experts however say that government will not be infusing additional funds into banks as in the past.
The central government has said capital infusions into its banks would happen only to relatively profitable banks.
"This may result in some weak banks getting merged with stronger one," Karthikeyan said.
"Given the low capital levels of public sector banks as a whole, the government's selective approach to capital infusions will put further negative pressure on the credit profiles of weaker banks," Vadlamani said.
On the modifications to India's framework for corporate bankruptcy, Vadlamani said the Indian budget's proposed introduction of a new bankruptcy law is credit positive if implemented as recommended, because the current weak framework is a major impediment in the banks' enforcement of creditor rights.
According to him, poor implementation of such bankruptcy regimes in the past was due to institutional capacity issues, and unless such issues are addressed, the weak mechanisms for the resolution of stressed corporates will remain a structural weakness within the Indian banking system.


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