On April 26th, 2023, Sergio Massa, Argentina’s Economy Minister made an announcement stating that his country would now pay for imported goods from China in Chinese Yuan instead of US dollars. Several months prior to this announcement, the Finance Minister of Saudi Arabia had also expressed openne...
Without involving the US dollar, ten months ago, it seemed straightforward for Indian refineries to import petroleum crude from Russia at a lower price. However, the situation changed when the war broke out between Russia and Ukraine, leading the US and its allies to prohibit Russia from exporting c...
15 years apart the history is seen to have repeated in the month of March this year!The US financial crisis that ripped through the banking and financial system in 2008 and had a cascading effect on the world economy, has again raised its head and shook the system. Of course, this time it’s not th...
Canara bank is running on positives as their Global Business have increased by 13.63% (y.o.y) to Rs.20,14,443 cr as at Dec 2022 with Global Deposits at Rs.1163470 cr 11.51% (y.o.y) and Global Advance (gross) at Rs 850973 cr 16.65% (y.o.y). Domestic Deposit of the Bank stood at Rs.1079700 Cr as at De...
The backpedalling from the new pension scheme to the old pension scheme is being debated. Few state governments have even restored the old pension scheme in the recent past.History of Pension The history of the Indian pension system dates back to the colonial era. It was the Royal Commission on...
In my article “Headwinds on Digital Currency”, published in “Business Economics” back in October 2021, I wrote about the RBI’s thought process on the creation of the Central Bank Digital Currency (CBDC), India’s own “E Rupee” (having the symbol “e`”). Almost a year after, the RBI...
Buzz words like crypto, bitcoin, digital currency etc. have revolutionised the financial sector - but in the absence of knowledge either we ignore these words or do not discuss them at all. Besides, governments, financial institutions, broadcast media and financial experts also do not bring them int...
Internet based technology has turned out to be an agent of disruption which brought in overwhelming changes across economy, society and industry. New business models have been created through application of GPS, AI, IOT, Blockchain, which has not only created enormous wealth and value by disrupting ...
Finance Minister Nirmala Sitharaman recentl announced a pipeline of assets that the government plans to monetize. The government, through the National Infrastructure Pipeline (NIP), has a target to collect six lakh crore rupees in the coming four years ending 2024-25. Out of this Rs. 88,000 crore wi...
Minutes of the meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) held on August 4-6 were released on 20, creating some concerns rather than strengthening confidence. A lone and dissenting statement which was attached to the minutes was by Professor Jayanth Varma, alth...
