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The RBI has asked the finance minister to amend the Reserve Bank of India Act, to allow it to supervise non-bank subsidiaries of banks.
India’s financial system has long been inadequate. The new Indian Financial Code promises to change business as usual.
In his first public address since assuming responsibilities as ambassador of India to the United States in December, S. Jaishankar discussed the promise of, and prospects for, the U.S.-India relationship.
India should step up its use of biometric identification to streamline its welfare system.
In India, politicians with criminal records are supplying what voters and parties demand: candidates who are effective and well-funded.
The BJP is reportedly evaluating various reform proposals to include in its manifesto. It is important to evaluate these on the basis of both economic theory and international experience.
The United States must confront the uncomfortable reality that China’s economic and military might may eventually rival or even surpass its own.
Manmohan Singh may, in the end, best be remembered for an economic reform that has resulted in more inequalities between the rich and the poor and between urban and village India.
The Aam Aadmi Party has capitalised on the anti-corruption campaign of Anna Hazare in which Arvind Kejriwal played a major role, which has somewhat re-politicised the urban middle class.
India needs a new approach to financial innovation and it is time the Reserve Bank of India realized that more of its mandate-driven approach is not the solution.