Shaji Vikraman

Profile

Interview with Uday Kotak: ‘Massive amount of Indian savers’ money is now going into few hundred stocks’
Mon, Jan 15, 2018

Uday Kotak said four out of five top private banks are majority owned foreigners, benefiting foreign savers.

Uday Kotak red flag over market rally, says savings going to ‘few hundred stocks’
Mon, Jan 15, 2018

He said a lot of domestic savings were flowing to “a few hundred stocks” of firms whose governance standards fuel concern.

PM Modi heading to Davos, India signals it will stay the course
Thu, Jan 11, 2018

The narrative is important considering not just that private investment in India has been weak, but from the fact that overseas investors have been far more bullish on India over the past few years despite growth concerns.

In year full of polls, little room for policy stimulus, private sector investment is key
Tue, Dec 26, 2017

If the fiscal, monetary and political levers for supporting growth via policy are weak, it means that the prospects of a recovery are dependent entirely on the private sector.

7% growth projection reasonable; reforms promising: Gita Gopinath
Fri, Dec 22, 2017

Gopinath, one of the few tenured professors and who is also on the economic advisory panel of the Federal Reserve Bank of New York.

Concerns over FRDI Bill: State-owned banks, deposit dominance; why pushing bail-in envelope isn’t easy
Tue, Dec 12, 2017

Addressing the fears expressed in social media, both Finance Minister Arun Jaitley and Prime Minister Narendra Modi have explicitly assured the public that their deposits in banks would be protected.

FRDI Bill: Understanding the basis of bail-in, and depositors’ fear
Mon, Dec 11, 2017

As the government tries to allay swirling apprehensions, The Indian Express explains the background, aims and rationale of the proposed new FRDI law.

On ‘populist steps’, tricky mandate for new Finance Commission
Fri, Dec 08, 2017

The primary remit of a Finance Commission is to work out the distribution of the net proceeds of taxes between the states and the central government, and the allocation among states.

Ratings upgrade lifts mood, but key economic tasks remain
Mon, Nov 20, 2017

India’s relationship with global ratings agencies is complicated, swinging between warm and frosty, appreciative and strongly critical.

In fact: Why World Bank’s foreign-bank prescription isn’t best cure for India
Mon, Nov 13, 2017

World Bank’s annual Global Financial Development Report 2017-18: Bankers Without Borders, released last week, stands out.

Finance Commission’s changing roles, challenges over the years
Thu, Nov 02, 2017

Much has changed since First Commission was set up in 1951 — from scale of transfer of tax proceeds to terms of reference of the body, from nature of Centre-state equations to the Commission’s composition

Bank recapitalisation: A lesson from 1993, with eye to the future
Thu, Oct 26, 2017

The economy was in repair in 1992-93 after the famous balance of payments crisis in 1991-92 and the government had to unveil reforms in the financial sector especially after the securities scam of 1991-92.

In fact: In Kingfisher saga, a strong case for directors who are truly independent
Tue, Oct 17, 2017

The Kotak committee sees a case for creating deterrence to ensure this, and recommends greater powers for accounting watchdog Institute of Chartered Accountants of India.

Yashwant Sinha hits back at Arun Jaitley: ‘He wouldn’t be there if I had been a job applicant’
Fri, Sep 29, 2017

Yashwant Sinha said that with only one regular Budget before the 2019 elections, it would be difficult for the Modi government to show results.

Yashwant Sinha: ‘They didn’t admit that there’s a problem, they kept singing their own praises’
Sat, Sep 30, 2017

Yashwant Sinha was finance minister in the Atal Bihari Vajpayee government and also during the 1990-91 balance-of-payments crisis.

PM’s economic advisory body returns — at a time of both continuity and change
Wed, Sep 27, 2017

Express Economic History Series: 40 months into the government’s term, a new PMEAC has been announced, headed by NITI Aayog member Bibek Debroy, to advise the Prime Minister at a time of increasing concern over the economic slowdown

Regional rural banks set to unlock value; listing of shares in the offing
Tue, Sep 26, 2017

In RRBs, 50 per cent is held by the Central government, 35 per cent by the sponsor banks and 15 per cent by the state government.

‘Post-merger concerns addressed; 4,000 employees took VRS’
Tue, Sep 26, 2017

Dinesh Kumar Khara, managing director, State Bank of India (SBI), said that the bank had engaged with the subsidiaries with the help of an internet site wherein they were allowed to share any of their concerns. And those concerns were addressed.

Unlike 2008-09, govt’s ‘stimulus’ plan may face FPI hurdle this time
Mon, Sep 25, 2017

Any deviation from fiscal and monetary prudence not likely to go down well with investors

In ATM’s 50th year, recalling its growth — and peak — in India
Fri, Sep 22, 2017

In the early part of the last decade, private banks that were licensed in 1994 started to expand their networks, giving a big push to ATMs.

NDA vs NDA: Three paradoxes in the economy today
Mon, Sep 18, 2017

Some remarkable similarities exist between the current economic situation and the one that prevailed in the years when the first NDA government under Vajpayee was in power. What stand out more today, however, are the seeming paradoxes in market and investor behaviours, and in trends of slowing growth and the strengthening rupee. How are they to be explained?

Discuss ways to merge at board level: govt to banks
Sun, Sep 17, 2017

The rising bad loans have underlined a growing need for huge capital infusion. The government had indicated earlier that it would provide Rs 70,000 crore as capital for these banks over four years.

Size of Contingency Fund: Where govt, RBI disagree
Fri, Sep 08, 2017

The issue was who would bear the cost. If the government did, it would add to its borrowings. If the RBI did it, its balance sheet would turn from surplus to deficit.

If demonetisation decision is exposed, country will ask what inputs went in: Raghuram Rajan
Wed, Sep 06, 2017

As for the RBI’s apparent suggestion prior to demonetisation to withdraw only 1,000 rupee notes and not the 500 rupee note, Raghuram Rajan said that the more a currency is used for transactions, the more the central bank has to be in readiness to replace it.

Raghuram Rajan interview: If there is a sense of intolerance, I think it impedes our economic progress
Wed, Sep 06, 2017

Raghuram Rajan interview: In India to release his new book, theformer RBI governor discusses note ban and government-RBI ties

Scope of evergreening loans less under new Sebi norms: S Raman
Tue, Sep 05, 2017

Sebi whole-time member, S Raman, talks about his experience as a commercial banker and how it has helped in his transition to regulation

What note ban was supposed to do, what really happened on the ground
Fri, Sep 01, 2017

After 99% of banned cash comes back, a fact check on government’s stated objectives of demonetisation

Understanding the debate around ‘compassionate capitalism’
Mon, Aug 21, 2017

Narayana Murthy’s constant battle for ‘democratisation of wealth’ reached a flashpoint last week. The debate on corporate salaries, which has raged for long in both India and the West, is complex.

How a new directive by Sebi looks set to change the rules of the borrowing game
Fri, Aug 18, 2017

The new insolvency law that came into effect this year has seen a dozen-odd corporates being referred to the National Company Law Tribunal (NCLT) which will ensure either a quick turnaround, or closure.

In tussle over size of surplus, differing views of prudence
Mon, Aug 14, 2017

The RBI was taking a hit on account of having provided foreign exchange guarantees for bank deposits from overseas Indians under the Foreign Currency Non-Resident Accounts or FCNR(A) scheme — which had been designed in the 70s to boost India’s balance of payments situation.

Understanding RBI-govt surplus transfer: Why, how, how much
Mon, Aug 14, 2017

The central bank has said it will transfer Rs 30,659 crore to the govt in 2016-17, half of the Rs 65,876 crore it gave in 2015-16. Who decides the amount? How is it important? The Indian Express explains.

We’ve failed to adopt a strategic policy stance for agricultural growth, says Former RBI Deputy Governor
Fri, Aug 04, 2017

Former RBI Deputy Governor talks to Indian Express, says we have "failed to adopt a strategic policy stance for enhancing and sustaining growth, ever since the success of the green revolution."

Interview with Shardul Shroff: Next 90 days will see some form of action, there will be some revival plans or insolvency
Mon, Jul 17, 2017

Shroff, who represents lenders in the litigation, said buyers for the assets are waiting in the wings and banks will get to know the realisation — of course with haircuts and after long-drawn proceedings.

Express Economic History Series: From private to public to private, how civil aviation has come full circle
Fri, Jul 07, 2017

65 years ago, Nehru’s government nationalised JRD Tata’s airline, rejecting his plea for a ‘strong, efficient Indian air transport system’ and ‘justice for investors and staff’. The government has now conceded it can no longer carry the burden of Air India and its accumulated losses of Rs 50,000 crore, and wants to divest

Criminality cannot be subsumed by winning elections: Yashwant Sinha
Sat, Jul 01, 2017

Yashwant Sinha on the differences between the RBI and the finance ministry, demonetisation and the lack of consensus for reforms in India

GST launch: 40-year journey to a common market
Sat, Jul 01, 2017

GST rollout: Launch of VAT was announced with effect from April 1, 2002, but the date was pushed back to April 1, 2003 in the face of severe resistance from traders, especially in BJP-ruled Delhi and a few other states.