The Reserve Bank of India (RBI) has given banks another six months to increase provisioning for their non-performing assets (NPAs). The earlier deadline to increase NPA provisioning to 70% was September 2010, but the RBI has now extended the deadline to March 2011. So, it seems like the central bank is changing its own guidelines/instructions repeatedly.
Standard & Poor’s estimates that...
Apropos your article “Put the SEBI House in Order First” (Moneylife, 17th December), times have changed so much! SEBI accumulating absolute power is by design—to facilitate powers that be from Delhi to have their way arbitrarily. Recently, I was amazed at the brilliance of a court in denying a laptop to Ramalinga Raju in jail for preparing his defence. The judge felt he would tamper with...
Your bold analysis of the mess created in distribution of financial products was an eye-opener (‘Different Strokes’, 22nd October and 19th November). The regulator’s ambitious proposal for educating retail investors may take years to bear fruit. (Try educating an investor to not choose an equity scheme based on its low NAV alone!). Until small investors get rid of such misconceptions, agents...
