All stories by Debashis Basu
How about a Hammurabi Code for financial offences?Rediff.com7 days ago
Scams happen with high regularity because the price of getting caught is insignificant. Aggrieved investors run from the police to already clogged courts to find redress for issues for which financial regulators have been specifically set up. For over 3,750 years we have known what to do, but we don't do it, observes Debashis Basu.
Reforms are about implementation, not announcementsRediff.com12 Oct 2020
'The promises of netas and babus and new laws, however well-meaning, mean little.' 'What matters is implementation on the ground.' 'Every law is finally implemented by a vast army of offici
Where will multi-cap funds find small-caps to invest?Rediff.com25 Sep 2020
And if there are so many opportunities, why haven't they invested in them, asks Debashis Basu.
The truth about India's ease of doing business claimRediff.com15 Sep 2020
'The recalculated ranking showed India should have had a higher ranking earlier (113 in 2012 instead of 132) and lower ranking later (114 in 2018 instead of 100).' 'This would mean that there has been no change in India's climate of doing business across two regimes.' 'This is exactly consistent with the reality on the ground,' observes Debashis Basu.
Why Modi's tax charter reads like a cruel jokeRediff.com26 Aug 2020
'Under this government, tax laws have become more draconian, and the government itself is setting stiff, unrealistic targets for tax officials, who have got more powers to harass us,' points out Debashis Basu.
How to protect investors from stockbrokersRediff.com13 Aug 2020
The problem is with the broking model and what brokers are allowed to do, notes Debashis Basu.
Why are our banks so secretive?Rediff.com29 Jul 2020
'The finance ministry and public sector banks have tried to keep the names of wilful defaulters secret.' 'Secrecy and concealing information are inbred among banks and even the RBI,' observes Debashis Basu, editor, www.moneylife.in.
What every investor must know about the bull runRediff.com16 Jul 2020
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
Can Indians live without Chinese imports?Rediff.com1 Jul 2020
'India imports 70 per cent of its bulk drugs from China. Are we going to live without antibiotics?' asks Debashis Basu.
Unlock 1: 3 challenges facing IndiaRediff.com2 Jun 2020
'When the lockdown grounded a billion people, nothing had been planned well: Testing, masks, face shields, protective gear, medical equipment, contact tracing ... nothing.' 'Before COVID, if you didn't know that the state had neither the money, nor the intent, nor the capacity to govern wisely and humanely, you were simply blind.' 'After COVID, if we continue to look to the State, look forward to a financial package or ask "What is the government doing" when faced with a calamity, the joke is on us, says Debashis Basu.
FDI shifting from China to India? 3 reasons why it's a joke!Rediff.com20 May 2020
'The belief that FDI will shift from China appears to be a strategy of politicians to keep the media busy, chasing irrelevant news to ward off pressure and questions about the government's plans to deal with COVID,' observes Debashis Basu.
Why Franklin-type fiascos will keep happeningRediff.com5 May 2020
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
Why is the stockmarket reacting like this?Rediff.com24 Mar 2020
'If the epidemic is sharply contained in a month or two, we have a huge buying opportunity. 'If not, we are staring at a serious economic crisis, the contours of which we are totally unaware of,' warns Debashis Basu.
Will this RBI plan boost growth? Or dent it?Rediff.com3 Mar 2020
'The assumed linear correlation between forced lower yields, higher bank borrowing from the RBI, higher lending, and higher growth involves leaps of faith, each a step on the quicksand of false beliefs,' warns Debashis Basu.
How to fix the PMC Bank crisisRediff.com23 Oct 2019
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Does Nirmalaji know how to turn the economy around?Rediff.com18 Oct 2019
'We can only hope that the government has finally 'got it' and will stay focused on improving productivity, demand, and governance,' says Debashis Basu.
The real source of tax terrorism is the government itselfRediff.com27 Aug 2019
'The deeper problem is big government -- a giant monster with a giant appetite, which requires it to put more and more pressure on tax officials to extort. 'And the monster is getting bigger by the day. But then, Mr Modi too knows this,' says Debashis Basu.
Budget is an exercise in hiding bad government financesRediff.com18 Jul 2019
'No Budget has so far has addressed the issue of the government's abysmal productivity of capital spending, improving which will be the big game changer. 'But, the government's tight lock on businesses, banks, education, and even essential services like transportation and large parts of infrastructure and healthcare is destroying capital year after year,' points out Debashis Basu.
FMPs crisis: Lessons for all to learnRediff.com26 Apr 2019
'Why are FMPs used as a vehicle for promoter funding against listed shares?' asks Debashis Basu.
Will Supreme Court finally end RBI's supreme conceit?Rediff.com12 Apr 2019
For the past 10 years or more, the RBI has been turning down dozens of applications under the RTI Act that sought disclosing the list of wilful defaulters and the RBI's inspection reports. In fact, it is the only organisation that has a granular and complete view of the heist that has been going on for 25 years at least. But it has escaped any blame for the multiple rounds of bankruptcy and massive periodic recapitalisation of public sector banks caused by bad loans. In fact, they don't want anyone to know how incompetent and collusive they have been in handling bad loans, says Debashis Basu.
Are mutual fund investments really SAFE?Rediff.com10 Mar 2019
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Capital infusion won't fix PSBsRediff.com1 Feb 2019
Those behind recapitalisation are neither aware nor do they care. After all, they have no skin in this game. And the Lok Sabha elections are round the corner. That's what they care about, points out Debashis Basu.
How to fix India's flawed banking systemRediff.com26 Feb 2018
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
Why Hasmukh Adhia is so wrong on LTCG taxRediff.com14 Feb 2018
To say capital gains from stocks are effortless shows little understanding of the treacherous investing terrain, says Debashis Basu.
The 3 major changes for savers and investorsRediff.com2 Feb 2018
The market players were expecting that if long-term gains are taxed, the STT would go. But this has not happened, says Debashis Basu.
Mr Modi, let's have same rules for ALL rich IndiansRediff.com29 Jan 2018
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
A bank without the buck, a bill without teethRediff.com17 Jan 2018
India borrows ideas that we don't need, like the FRDI Bill, and ignores the ones we need, like rewarding whistleblowers such as the ones who want to save Bombay Mercantile Bank, says Debashis Basu.
Why the FRDI Bill must be JUNKED!Rediff.com18 Dec 2017
Why do we need a cure here for peculiarly Western diseases when we don't have those diseases, and which the West itself is not trying to cure, asks Debashis Basu.
Band aid for cancer surgeryRediff.com14 Nov 2017
'It is strange a government that is bold and coercive has meekly chosen to do more of what has repeatedly failed to work in the past.' 'And sadly, rating agencies, the business community, fund managers, and analysts, who know this, have chosen to act as compulsive cheerleaders,' says Debashis Basu.
How our banks are cheating us of our savingsRediff.com25 Oct 2017
Banks are cheating customers with rates that are unfairly high, discriminatory, and opaque, denying legitimate savings to borrowers, while the RBI has been looking the other way, says Debashis Basu.
Home loans loot: Whose side is RBI on?Rediff.com28 Aug 2017
It is clear as daylight to anyone that a charge or a cost to simply reduce interest on a floating rate loan is extortion, but this is exactly what the RBI has officially sanctioned, says Debashis Basu.
Bad loans: The bungling and farce continuesRediff.com17 Jul 2017
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
Digital banking and its 4 BIG issuesRediff.com10 Apr 2017
Digital services work best when the seller designs a system where default options are designed to help the buyer, says Debashis Basu.
What really is the problem at Infosys?Rediff.com27 Feb 2017
'The problem is not the performance under Vishal Sikka, but the quality of Infy's board of directors, argues Debashis Basu.
Why black-ka-white through stocks won't stopRediff.com16 Feb 2017
Debashis Basu lists various reasons why laundering through the stock market thrives.
Whatever happened to Jaitley's single demat idea?Rediff.com30 Jan 2017
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
Seven note ban tricks and one lessonRediff.com18 Jan 2017
The government has provided no official explanation behind the note ban that is backed by hard data, says Debashis Basu.
Will the new RBI governor look at customer issues?Rediff.com29 Aug 2016
The average bank customer does not know about the Customer Charter because it was designed - under Mr Rajan's regime - to be a lame duck initiative from the start: violating the charter has no consequences, points out, Debashis Basu.
The big flaws that nailed payments banksRediff.com30 May 2016
The RBI has created a stunted business model by which payment banks are supposed to shoulder the noble objective of financial inclusion without being able to make much money.
Bankruptcy law: State - 1; market - 0Rediff.com16 May 2016
The successful implementation of the new Act will depend on a much bigger involvement of the state through a huge new superstructure of registration, certification and supervision