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Lighting a lamp

Since nationalisation, banks were directed to function not merely as deposit collectors and lenders, but much more. This add-on was required to change the traditional image of a banker “as one who lends an umbrella when the sun shines and takes it back when it rains.” Different tasks are given and

Around and About

CEA QUITS AFTER PRESSING FAMILY COMMITMENTS Arvind Subramanian, known as super Subbu during his IIMA days for his high IQ, stepped down as Chief Economic Adviser. He is leaving the finance ministry eleven monts before the end of his term in May 2019. He succeeded Raghuram Rajan to the slot. Over the last three

A consummate Economic Journalist

I first met S Sethuraman (SS) at the Economic Editors Conference 1973. It has blossomed into an invaluable friendship of a lifetime. The senior economic journalist commanded the respect of the policymakers and fellow journalists for his erudition and deep understanding of economic issues. His pleasant disposition and ever-helpful nature instantly

Memorable footprints of an ace educator

The 90th birthday of Prof M Anandakrishnan (MA), an educator par excellence and a Padma Shree awardee, was celebrated by his students and well-wishers. A book on Dr MA titled Memorable Footprints of an Educator was released on that day. The first Dr M Anandakrishnan endowment lecture on Antarctica Glacier and Global

Watchdog or Bloodhound?

Independence is about being seen to be independent. Mega frauds have made the independence of the audit profession, globally, suspect. Loot and Scoot actions of several billionaire business barons have raised questions about the integrity of the job of auditing. Many times CAs have become the quarry of disparagers as if

Applauding southern stars…

On 15 March 1993 IE celebrated its silver jubilee. IE thought of a plan to applaud business excellence. We decided to limit it to a southern corporate. The reason: in terms of size the southern corporates were relatively small. Family-dominated southern companies with modest sizes and with lack of culture for

Will ‘bad banks’ create good banks?

The bad bank is a differentiated bank, dealing only with NPAs. No, it’s not a bank that is evil.\ India’s bad loan problem has become alarming. The stress sits at Rs.14 lakh crore; meaning there is now no certainty of receiving repayment of that amount. So even if the account is

JUDGES, JUDGE YOURSELF

India’s democracy stood the test of time while a neighboring state slipped into the thraldom of military rule. This was because in our country the Executive, Legislature, and Judiciary have respected each other and knew where to draw the line. The Indian politicians, as a class, have generally not lived

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