Irrespective of the party in power, ushering in greater financial inclusion will remain on top of its priorities. This is also exemplified by the recent in-principle approval to grant bank licenses to IDFC and Bandhan Financial Services. Both have been strong and credible players in the field. IDFC with its strong management and leadership practices and pipeline can ensure a replication of its successes in area of infrastructure ....
In the current environment, we run the risk of becoming perennial pessimists. We can so easily come up with a litany of woes on the Indian economy. As we consume ourselves with this negativity, there is a tendency to forget what our inherent strengths are. Domestic investors are more pessimistic on India's outlook today than foreign investors. Critics have become so cynical that they cannot acknowledge any positive trends emerging in the Indian economy.
The Indian economy is currently passing through a phase of low and slow growth but it should not cloud the fact that over the eight year period beginning 2005-06 the average annual rate of growth of the economy has been 8 per cent. Most of us also overlook the fact that the Indian economy over the last two decades has assumed greater resilience and it is more competitive.
I sought an appointment with the prime minister and was due to meet him sometime in June 2009 at 1100 hrs. I met Montek and Isher over breakfast and sought their opinion. Both said, go for it. I was emboldened by this and when I met the PM, I told him that I want to do this project. He warmly agreed to my proposition and picked up the phone and spoke to Montek requesting him to close this before he leaves for St Petersburg.
There is an inalienable link between growth and governance and this has been established through several empirical studies. Similarly, there is an equally compelling link between growth and financial inclusion especially in the emerging market economies. This is on account of the pivotal role that the banks play as financial intermediaries in these economies, both at a macro and micro level.
K C Chakrabarty
Worldwide, Persons with Disabilities (PwDs) are most marginalised. Their diversity and extent of disability need customised rehabilitation approach, which complicates the situation further. As per Census 2011, there are 26.8 million PwDs (2.2 per cent of population) in India and therefore inclusive growth cannot be imagined without them.
Stuti Kacker and Ratnesh Kumar
India lives in the villages - as the saying goes. We have been a rural economy, no doubt. But India owns cities as well. Now after 65 years of democracy, we have grown beyond the myth that village is innocent and city is cunning. At the time of independence our urban areas had just 17.3 per cent of the population. As per the latest census, the urban share comes to 32 per cent - roughly 370 million of our population. Almost 60 million more than the entire population of US.
R Vikram Singh
The struggle for a dignified life and against extreme poverty is still the most important challenge for mankind. 4 billion people in the world live in poverty. Despite recent improvements, around 980 million people - more than 6th of world's population - have to survive on less than 1 dollar a day. Poverty is the reason that 77 million children do not receive any primary education. Women still have significantly fewer opportunities to pursue personal freedom and live a self-determined life than men.
Chandra Shekhar Ghosh
Financial inclusion presents a way of bringing economic well being to millions of people particularly the underprivileged sections in India who do not have any protective financial umbrella and for whom the need for financial protection is paramount. It is a contemporary theme of vital national importance if we are to unleash the country's growth potential and promote equity.
A V Girijakumar
Skoch Challenger Awards 2014 complete twelve years of celebrating excellence - people, projects, organisations, institutions - that went an extra mile in making India better. During these years the highest independently instituted civilian honours....
Deepak Parekh is a man with a mission. He may well be the man who has steered HDFC to the pinnacle of mortgage success in India and it becoming a conglomerate with presence in banking...
Let us assume that we have a rational banking system devoid of all controls by the central banking authority. For achieving optimum profitability, banks would require access to funds, good quality staff with high productivity levels and equipped with the best of computerised systems to reduce drudgery for the staff and lower high operational costs and then finally, banks had operational freedom to ensure that credit intermediation costs are low and also allocation efficiency so that scarce financial resources are directed to the desired sectors and areas of the economy that are most productive and efficient.
K G Karmakar
I personally believe that the living conditions of the rural poor receive very little attention. Problems of poor people in rural areas need to be given more space in public discourse. MGNREGA has enabled both livelihood security and social development. Issues of delay in payment of wages and lack of adequate technical staff remain. Increased focus is also necessary on creation of durable and quality assets through sustained convergence with other government programmes and schemes.
This budget is not about financial markets, not about reforms, not about kick- starting the economy and is also not about banking reforms and what have you. This is a solid budget for Rural India and if the rural economy is safe, India's economic growth is not in doubt. This budget is aimed largely at Rural India and we need to look at it from a rural perspective and it begins to make sound economic sense. There are a whole lot of goodies for the rural sector, analyses K G Karmakar
K G Karmakar
We are really on the edge of a precipice in India as far as the financial sector is concerned. A declining, decelerating economy has created enormous problems for our public sector banks and all the lenders in our system, large NPAs are built up, they are being concealed by the banks, they are going bust. Every day in the newspapers I see two things. One, is government is recapitalizing the banks and two, banks selling their NPAs, stressed assets to the buyers at a reduced price. So for 4,500 you are getting 1,500 or whatever.
Small and medium enterprises are engines of growth. All they need is handholding, easy access to bank credit and a regulatory revel playing field...
S S Tarapore
We need to gainfully employ our youth, the number of which is increasing with each passing year. Otherwise, our strength is running the risk of becoming a liability, cautions...
N C Saxena
Ushering in of new land acquisition norms have opened up new vistas of growth. Its time that government and public sector entities put together their perspective development planning detailing their long-term strategies for future infrastruture growth...
D K Ojha