Banking Archives - Page 2 of 2 - Tiger and Palm Tree

Hawick to Hawick: Life of James Wilson

This post is a longer version of my article on James Wilson, the first Finance Member of the Viceroy’s Executive Council, which was published in Business Standard dated 21 January 2021. Please see the link here. Wilson was also the Founder of The Economist, and the Standard Chartered Bank. He presented the first Indian budget in 1860, and introduced income tax in the country. He also laid the foundations for introducing government paper currency in India the Indian Police, and the Office of the Comptroller and Auditor General, among other things. Continue reading “Hawick to Hawick: Life of James Wilson”

Regulation and Supervision: A few lessons

Regulation and supervision are much more complex than meets the eye. This post attempts to draw a few regulatory and supervisory lessons. This is against the background of a recent book by a well-known economist and former Governor, Reserve Bank of India.

A missing portrait

If one were to write the history of the Reserve Bank of India today, the midpoint would be May 1977. This was when the new Janata Government forced the resignation of K.R. Puri, the 12th Governor. M. Narasimham, his successor, has in his memoirs detailed the events that led to the resignation. After another change of government, a vindictive Puri would come back, as a one man Commission. His report faulted the conduct of gold auctions under the venerable I.G. Patel, among the most brilliant Governors of the Bank. Continue reading “Regulation and Supervision: A few lessons”

Book Review: Backstage by Montek Singh Ahluwalia

I have two versions of a review of this recent book by Montek Singh Ahluwalia, Backstage: The Story Behind India’s High Growth Years. When I first wrote it, it was too long, at over 3000 words. I had to trim it down considerable and make it 700 words, for The Open Magazine. I will post a link to that review here as and when it is published in that shorter form. Those who might be interested in the longer form, please read on. Continue reading “Book Review: Backstage by Montek Singh Ahluwalia”

My first lessons in central banking

Though I joined University College, Trivandrum, in 1978, for my BA (Economics), I shifted to the Government Arts College, Thycaud, Trivandrum, within a few months. This was for two reasons. First, Arts College offered Mathematics as a subsidiary as against History in University College. Second, Banking System was one of the optional papers at the Arts College, as against some other subject in University College. Continue reading “My first lessons in central banking”

Reforming Deposit Insurance

This is the last of three articles from my younger days that I am posting here on this site. All because they continue to be relevant, and are not available in the public domain. This article on deposit insurance goes back to July 2000. It is a critique of some of the key recommendations of the Working Group on Reform of Deposit Insurance in India (Chairman: Jagdish Capoor). Continue reading “Reforming Deposit Insurance”

Should banking supervision be separated

This also is an old article, going back to 1998, like my earlier post. I am re-posting it here as the issue continues to have relevance, is not available in the public domain, and of course, it gives me an i-told-you-so moment. Continue reading “Should banking supervision be separated”

Narrow banking

This is an old article, going back to 1998, which I thought became relevant with some suggestions for narrow banking coming up here and there. Continue reading “Narrow banking”