Saga of Punjab and Maharashtra Cooperative Bank (1984-2022) reminds one of...
The RBI announced that Punjab and Maharashtra Cooperative Bank (PMCB) has finally been amalgamated with Unity Small Finance Bank Ltd. The crisis and it eventual amalgamation took me to history lane of...
View ArticleDo foreign investors improve the quality of domestic institutions?
BIS paper by Deniz Igan, Alexandre R. Lauwers and Damien Puy look at the question of whether foreign investors improve quality of domestic institutions: The conventional wisdom is that financial...
View ArticleExciting world of digital payments: From online to offline
My new article in Moneycontrol arguing about how digital payments ecosystem is moving from online solutions to offline solutions.
View ArticleFederal Reserve policy explained in poetic lines
Suyash Choudhary Head of Fixed Income at IDFC Asset Management explains the Fed policy/dilemma using poetry: And so the Fed Chair took his seat As he does now after every FOMC meet A brief nudge to the...
View ArticleWhy do supervisors rate banking organizations?
James Bergin and Kevin Stiroh in this NY Fed paper: This article addresses a question that at first may appear simple: why do supervisors rate banking organizations? Prudential supervisors have a...
View ArticleHow do we make money?
Gary B. Gorton, Chase P. Ross & Sharon Y. Ross in this NBER paper ask the question on how do we make money and more importantly get it accepted: It is difficult for private agents to produce money...
View ArticleVirtual/Digital banking and beyond: Thinking about several interconnected issues
Sally Chen, Derryl D’Silva, Frank Packer and Siddharth Tiwari in this BIS paper look at several issues in virtual banking: The integration of technology, finance and services is rapidly changing the...
View ArticleCurrency Undervaluation and Comparative Advantage
Paul Bergin in the recent NBER paper discusses tradeoffs of currency undervaluation as a growth strategy: This paper highlights a tradeoff implied by a policy of export-led growth through currency...
View ArticleTracking Development through 11 Satellite Images & Cartography
Economic Survey 2021-22 has an interesting chapter which only has satellite images and maps tracking India’s development. An important theme of this year’s Economic Survey is the use of new forms of...
View ArticleHistory and evolution of the Economic Survey
Economic Survey 2021-22 has gone back to being single volume report. This is welcome as the Survey was becoming way too wordy and bulky. The preface discusses the history of the Survey and how it has...
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