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The Economy: A Post-Budget Perspective

The focus of this article is not so much the quantitative or specific aspects of the budget as some qualitative issues regarding the economy. It touches on some developing trends and, since the budget is the peg on which it hangs, refers to one or two specific proposals.

Lies, Damned Lies and Mr Bush

Whichever way the current confrontation ends, either with a war or without one, there are two likely developments about which one can be reasonably sure: The attempt to install an alternative government in Iraq may well lead to chaos and anarchy in that country on a scale perhaps bigger than in post-Taliban Afghanistan. Secondly, there surely will be an Islamic backlash perhaps in the form of more terrorist attacks against Islam's perceived enemies. And, this could well cost us heavily.

Rule of Law and Civil Servants

If the Indian judicial system delivers neither efficiency nor probity nor disciplined, well-argued judgments on interpretation of laws, contracts and crimes, surely something needs to be done? The new law minister has his work cut out for him.

Issues in Asset Liability Management-V

The starting consideration for pricing of liabilities, i e, deposits, will have to be the yield curve on government securities and/or in the term interbank market.

Issues in Asset Liability Management - IV

The biggest weakness of the prescribed model is that it clubs together all assets/liabilities, i e, those with fixed maturities and those with no fixed maturities, whether in theory (saving bank) or practice (working capital finance, generally linked to the prime lending rate). This leads to a number of compromises to be made in classification and therefore reduces the effectiveness of the model in measuring the interest rate risk.

Issues in Asset Liability Management - III

This is the third of a series of articles discussing the different issues involved in asset liability management by banks. The last article had argued that from the angle of pricing assets and liabilities a clear and quantified articulation of a bank's strategic objective is needed and this will need to be an adequate return on investment. This article discusses a few other points arising from the regulatory framework.

Issues in Asset Liability Management - II

From the angle of pricing assets and liabilities a clear and quantified articulation of a bank's strategic objective is needed and this will need to be an adequate return on investment. This is the second of a series of articles discussing the different issues involved in asset liability management by banks.
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