Shaji Vikraman

Articles By Shaji Vikraman

Three decades ago, report that set merger template

In the early phase of the UPA government’s first term between 2004 and 2009, the Finance Ministry headed by P Chidambaram was pushing hard for consolidation of state-owned banks.

Explained: What bank mergers can mean, the potential downsides

The plan is to merge 10 state-owned banks into four larger ones. What led to the move, how is it intended to help the banks and the government, and what are the potential downsides?

The dousing of fires for now opens up space to repair ties between government and RBI

If policymakers on both sides can shut out the noise, it could be an opportune time to repair ties between the government and the RBI and to forge a respectful relationship.

Explained: How and why RBI transfers to government

Bank’s Central Board has decided on a record transfer of Rs 1.76 lakh crore. On what basis are such transfers made? Why has it been sometimes contentious, and how was the amount settled this time?

LIC listing back on agenda, as govt looks to give disinvestment a boost

If the LIC shares are listed on stock exchanges, it could easily emerge as the country’s top listed company in terms of market valuation, overtaking current leaders Reliance Industries Ltd and Tata Consultancy Services.

Surely, 50 years is a good time to review bank nationalisation

Fifty years after bank nationalisation, banking is still seen as an enterprise driven by social purpose and political considerations — not depositors’ interests. This needs to change.

Explained: Why a corporate bond market

FM Nirmala Sitharaman has announced fresh measures for developing such a market, after previous budgets and a number of panels had failed to work out a plan. Why does India need such a market, and what are the new measures?

History headline: The Union Budget, 1948 and now

What the first Finance Minister said in the interim Budget of 1947-48 on market borrowings echoes even now. The government’s borrowing programme would be such as to enable it to obtain funds as cheaply as possible without in any way impacting the flow of investment into industry.

Union Budget 2019: Govt to meet part of its borrowings from abroad — a departure

Union Budget 2019: The bond markets has reason to cheer given the huge borrowing programme of the government. The relief was reflected in the10 year bond yields which fell below 6.6 per cent and closed finally at 6.69 per cent.

Explained: Unpacking the Budget

How has the first-time finance minister, Nirmala Sitharaman, scored on her debut? Has the first Budget of PM Narendra Modi’s second term laid the foundation for achieving the goal of making India a $5-trillion economy by 2025? Will the Budget address the pressing concerns of the Indian economy? The Indian Express cuts through the clutter.

Maybe it’s time to provide statutory protection for RBI Governor’s term: Raghuram Rajan

"In India, there is a certain amount of rural-urban divide which is due to the farm distress and the traditional problem of poverty which despite our progress has not been eliminated," says former RBI Governor Raghuram Rajan.

Explained: Can Rahul Gandhi’s basic income scheme be a game changer?

Congress has announced Rs 72,000 a year for poorest 20 per cent. What are the arguments for and against such schemes, and what will it take to implement it? A look at the economics, precedents and challenges ahead.

In light of L&T and Mindtree, a look at how hostile takeover bids have played out over the years

Before L&T & Mindtree, there was Swraj Paul & DCM, Escorts. How such bids have played out over the years.

Government representative on interest rates panel: move in New Zealand, debate in India

The move in New Zealand follows changes to the law governing the central bank there.

Without the connivance of the Centre, no state can be fiscally irresponsible: Y V Reddy

In terms of overall fiscal stability, the states are doing better than the central government, says Reddy.

Simply put: Levelling the bankers’ field

RBI has unveiled draft rules on compensation of top bank execs who take undue risks. A look at how some bank executives entered into questionable deals, and the private bankers got away. This is set to change.

Explained: RBI’s payouts to the govt — why, and how much

This is the second year running that the RBI has paid an interim dividend to the government; it had approved an interim payout of Rs 10,000 crore last year.

Simply put: Should we worry of recession?

Economics Nobel winner Paul Krugman warns that the US could possibly be heading for a recession. Amid slowdown in Europe, how strong are the grounds for such fears in the US, and what can it mean for India?

How ICICI clawback can be a game-changer in India’s financial sector

One of the signals for higher executives in the Indian financial sector is that this could be a trigger for greater scrutiny of their performance vis-à-vis their remuneration packages and measured against their governance practices and conduct.

History headline: India’s story, through its Budgets

All these pronouncements by successive finance ministers in their Budget speeches will be put to test in the years to come.