Why The Nirav Modis Are So Common In PSB Banks!


While many eyebrows are being raised on the obscene value of the fraud detected at PNB (~11000 cr INR/ 1.8 BN USD); it holds no surprise if one understands the psyche of Indian banks, primarily the PSUs. Vijay Mallya did the same thing, brazenly taking the banks for a ride…

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Bitcoin & Cryptocurrency in India: The Rich Orphan


In our last article we highlighted evolving challenges of cryptocurrency in India and the lack of regulatory clarification on the same. Ironically while warnings from RBI and GoI had only limited impact, another step of GoI (demonetization) caused a huge spur in bitcoin investments. Mohit Kalra, cofounder of Coinsecure, noted…

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India: Bank Bail-In or Bail-Out! Does it really matter?


Draft FRDI (Financial Resolution & Deposit Insurance) Bill 2017 is expected to provide a comprehensive framework to deal with bankruptcy situations in financial sector entities e.g. banks, NBFCs etc. The bill was approved by cabinet for introduction in the Parliament in June 2017. The bill is creating a lot of…

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Indian Bank NPA Woes: Q2 FY18 Status Report


The Indian banking NPA woes refuses to go and despite new bankruptcy & insolvency laws, few seems to be convinced that there is a resolution in early sight. We have outlined earlier that the basic fundamental challenge we have is lack of economic growth. With a few industries (aka Telecom) reeling under…

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The Mood(y) on Demonetization


Yesterday in a dramatic turn of events, Moody upgraded country rating of India after nearly 14 years and demonetization was cited as one of the economic reforms triggering the same, along with GST and others. While the upgrade caught everyone by surprise but citing demonetization is the more surprising element,…

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Peer to Peer (P2P) Lending; Salient points from RBI Final Guidelines


RBI released the final set of guidelines for P2P players. This is extremely welcome move and will bring in credibility to this sector. That augurs well for all the participants, including the NBFCs and the borrowers/ lenders accessing these platforms. We had highlighted earlier in our article (India Fintech P2P…

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Was Demonetization Triggered By Sudden Surge In Cash or FICN?


“In his book, Glimpses of Indian Economic Policy: an Insider’s View, Patel writes that when the then finance minister HM Patel told him about the step, he asserted that steps like these rarely have striking results”* IG Patel was the RBI Governor when India underwent demonetization in 1978. Lately high…

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