ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by N P KurupSubscribe to N P Kurup

Banking Sector Reforms and Transparency

N P Kurup Though the reforms in the banking sector have not seriously derailed the system, they have undermined the sector's social commitments. The acceptance of such reforms by the people, especially in the rural areas, remains to be tested. This affile draws attention to the need for meaningful data in the context of the reforms. On examining the reform- initiated data on non-performing assets, provisioning and write-off, the author suggests that a study group be appointed on banking statistics to establish the credibility of the data base as a prelude to further transparency.

Restructuring Banks Capital-Need for an Integrated Approach

Need for an Integrated Approach N P Kurup TO get out of the muddle of partial privatisation, about which I wrote earlier (EPW, September 10,1994), the government has promulgated the Banking Companies (Acquisition and Transfer of Undertakings) Amendment Ordinance on January 21. The ordinance became urgent to facilitate finalisation of the balance-sheet and profit and loss statement of Punjab National Bank, which unwittingly became a victim of structural reforms in the banking sector. On the merger of New Bank of India with PNB in September 1993, PNB came to be saddled with New Bank's accumulated losses of about Rs 430 crore. The perfunctory amalgamation scheme contained no provision about the manner in which the losses have to be absorbed. But PNB took a firm stand that notwithstanding the 100 per cent government ownership of both the banks, the losses should be borne by the government retrospectively from the date of merger. Pending acceptance of its demand, the bank did not finalise its accounts as on March 31, 1994.

Muddle of Partial Privatisation of Banks

N P Kurup The banks which are eager to go to the market to raise capital are mostly those which have already achieved the prescribed capital adequacy ratio. Further, though legislation has been enacted to enable banks to issue shares to the public, many practical difficulties have cropped up.

Profitable and Socially Responsible Banking

Banking N P Kurup In its post-scam concern for control and supervision of treasury operations of banks, the Reserve Bank has lost the developmental perspective of nationalised hanking.

Foreign Banks and Indian Banking System

years ago "a woman does not deserve freedom", equality and freedom for women have been emphasised by every social reformer, be he D K Karve or Jyotiba Phule. When the Shankaracharya of Puri defended the abominable practice of sati after a recent case in Rajasthan, a thousand voices contradicted him. This does not seem to have happened or to happen among Muslims. This is partly because Islam is in many ways more enlightened than ritual-ridden and socially- divisive Hinduism and partly because of the unique status of the Koran. The result has been that the ulema or political manipulators continue to have tremendous power in a society which is largely poor and poorly educated, and in which the intelligentsia is a minute fraction. Men like Hamied Dalwai and Asghar Ali Engineer seem to be crying in the wilderness.

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