Indian banking, central banking, and the economy
In an earlier post on CD Deshmukh, I drew on his life and career in the context of his abiding interest in botany and of horticulture (see here). Here, I describe in greater detail, his professional career, almost devoid of personal references. A much shorter version, about one fifth in length, appeared in an online encyclopaedia of Indian economists (see here). Continue reading “The many careers of CD Deshmukh”
An oft cited paper in the literature on regulation goes by the title “Gentle Nudge vs. Hard Shove”. The regulatory dilemma is exemplified by the recent case of the Reserve Bank circular on opening of current accounts. Years of “gentle nudges” which did not result in banks complying with instructions regarding credit discipline seem to have resulted in “hard shoves” involving more hands-on regulation.
Some bank borrowers have taken the legal course demanding quashing of the Reserve Bank of India circular dated 6 August 2020 on opening current accounts by banks. The Bank has since further extended the last date for compliance to 31 October 2021. Continue reading “Opening current accounts in banks”
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”
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”