The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
Individuals who can understand data and go for data driven decisions making using their critical mind will be highly valued.
Mamata Banerjee's party won 132 seats and was all set to pocket two more to post a hat-trick of wins, decimating a frail challenge from the opposition Bharatiya Janata Party, the Left Front and the Congress, officials said.
'India imports 70 per cent of its bulk drugs from China. Are we going to live without antibiotics?' asks Debashis Basu.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
And if there are so many opportunities, why haven't they invested in them, asks Debashis Basu.
'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.
'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.
Rediff readers share interesting photographs of India from their travels.
'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.
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.
'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.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
The inefficient public sector with higher costs offers a lobbying cover for the entire sector, which confers even greater benefits on the private sector.
'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.
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Over 86 lakh voters will decide the political fate of 284 candidates in this phase.
'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.
'We can only hope that the government has finally 'got it' and will stay focused on improving productivity, demand, and governance,' says Debashis Basu.
'Kindly advise about the following stocks. Can I hold or exit?'
Sukanya Verma looks at the recent spate of book-to-screen adaptations.
The CAB will hold its 85th Annual General Meeting on September 28, as per Committee of Administrators' (CoA) diktat.
Many join the course but most either leave mid-way to take jobs or are not able to clear the exams.
To make mutual funds go beyond the top 15 locations, Sebi has decided to rob investors and pay the funds.
The police on Thursday claimed to have cracked the murder case of a human rights activist at Tetultala in West Bengal's Howrah district in a parcel bomb blast in September, with the arrest of three people. Biswajit Majhi, Abhisekh Roy and Subhankar Das were arrested in connection with the case, police sources said.
'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.
The All India Chess Federation decided to recommend Grandmaster Viswanathan Anand for the coveted 'Bharat Ratna' award.
'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.
The Criminal Investigation Department on Friday filed a charge-sheet at a Midnapore court against 58 accused, including jailed former West Bengal minister Sushanta Ghosh, in the Garbeta skeleton recovery case. Besides the former minister, his ex-personal secretary Debashis Pyne has also been named in the charge-sheet, which was filed within three months of Ghosh's arrest. The probe agency prayed to the CJM court to issue arrest warrants against all the 42.
Designated I-League champions Mohun Bagan have announced a donoation of 20 lakh in the fight against the coronavirus pandemic while Bhaichung Bhutia will feature in Asian Football Confederation's (AFC) public awareness campaign on the COVID-19 pandemic,
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
The market players were expecting that if long-term gains are taxed, the STT would go. But this has not happened, says Debashis Basu.
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.
'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.
Prof Debashis Chatterjee, Director of Indian Institute of Management, Kozhikode, speaks his mind about his vision for IIM-K, the change in the mindset of IIM students and the relevance of CAT in testing students' intelligence or managerial capabilities.
A crude bomb kept in a bag exploded near the Dum Dum cantonment on Saturday, leaving two children injured.
The condition of veteran Communist Party of India-Marxist leader Jyoti Basu continued to remain critical on Tuesday with his immunity level deteriorating.
The Indian Institute of Management, Kozhikode (IIM-K), has decided to commemorate the contribution made by late Professor C K Prahalad, by setting up an endowment fund in his name.
The Indian Institute of Management, Kozhikode (IIM-K), has decided to commemorate the contribution made by late Professor C K Prahalad, by setting up an endowment fund in his name. The aim of this fund is to globalise Indian thought leadership through knowledge creation and dissemination.
There is a flicker of hope for Tata Motors' abandoned Singur site. A team from government-owned Bharat Heavy Electricals Ltd (BHEL) visited the place, along with state government officials, for a possible project with the West Bengal Power Development Corporation.
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