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

Money

Money
If there were no policy interventions of any kind in the foreign exchange markets, and all markets were present and deep, it is far from clear that the size and direction of global imbalances would...
The Indian economy is facing some serious macroeconomic problems due to rapidly rising inflation and interest rates, a growing trade deficit and an uncertain global environment, which involves risks...
Due to the nature of the expansion of banking services in the country and constraints on banking entities, microfinance and microfinancing institutions have gained immense relevance today. The...
Sanghamithra is a microfinance institution set up to promote self-governed institutions of the poor and be totally unlike the typical MFIs that are known to focus exclusively on financial...
The modern commodity market finds its origin in the trading of agricultural products. This article traces the evolution and development of the commodity derivatives market in India. The article then...
This paper develops a measure of the monetary policy stance from the detailed reading of various monetary policy announcements in India from 1973 to 1998. According to the proposed measure, the...
The public sector banks have shown a remarkable transformation in the post-reform period. Profitability is comparable to international banks, efficiency and stability have improved and there is a...
The turnover of the commodity futures market has grown exponentially in a short span of time. With a skewed market participation that largely favours speculators, the futures market leaves a lot to...
India's experience with private equity is illustrative of the rush of this form of finance to the developing world. The acquisition of shares through the foreign institutional investor route today...
The Kalanjiam programme is a unique credit programme that goes beyond the narrow "financial delivery" approach. As this article explains, initiatives under this programme are flexible and tailored to...
Microcredit has been receiving a significant amount of attention all over the world, especially in developing countries. It is felt that by providing microcredit to the "poorest of the poor", the gap...
Indian banks' holdings of government securities - measured in rupees - have fallen for the first time in almost 40 years and are now close to the statutory minimum. Such holdings remain, however,...
Besides facilitating overall economic growth, finance can help individuals smooth their income, insure themselves against risks and broaden investment opportunities. Empirical evidence shows that...
This paper first outlines a case study of the episode in 2006 in Krishna district of Andhra Pradesh when the state government temporarily closed down all the branches of microfinance institutions...
Owing to the substantial risks involved, hedge funds are normally open only to professional, institutional or otherwise accredited investors. This paper outlines the structure of hedge funds, the...
The Independent Commission on Banking and Financial Policy has produced an excellent report that puts the banking and financial policies of India under a microscope. The analysis is not always on the...
The capital structure of Indian corporates reflects a churning, with a preference for internal financing over external financing. This behavioural pattern is the essence of the pecking order theory...
Monetary policy in most developed countries is conducted with the system being kept marginally short of liquidity. In contrast, many emerging market monetary authorities have been facing surplus...
This article views the operations of foreign banks in historical perspective, and taking a cue therefrom, provides an analysis of contemporary policy that has promoted their aggressive expansion. The...
The Indian experience with reform in the financial sector indicates that, inter alia, there are three important outcomes of such liberalisation. First, there is increased financial fragility, which...
We offer a dynamical systems translation of the Godley and Cripps (1983) framework. Stability of an economy is shown to depend on the concatenation of four parameters: a steady-state money income...
Agricultural credit has played a vital role in supporting farm production in India. Though the outreach and amount of agricultural credit have increased over the years, several weaknesses have crept...
The overarching goal of the second Basel accord is aligning the capital requirements of banks with risk sensitivity. The accord emphasises the quantification of capital requirements on the basis of...
The new Basel accord is slated to come into effect in India around 2007 raising the question of how the revised standards will influence bank behaviour. Using a simple theoretical model, it is shown...
The surge in bank credit in the last couple of years has been an encouraging phenomenon in Indiaâ??s banking sector. This reflects as much the turnaround in the economy as the improved balance sheets...
This paper proposes an architectural design for a microfinance service delivery network. It emphasises that savings followed by credit, insurance and money transfer, in descending order of priority,...
This paper critiques the approach and recommendations of the 2004 government of India expert group on foreign institutional investment flows. The groupâ??s approach raise several important analytical...
It has been observed that there is a significant relationship between the demand for life insurance and various macroeconomic variables. High growth of GDP induces an economic effect through higher...
It is believed that the working capital support extended by commercial banks to small-scale industry is far from adequate. Although the SSI is a part of the priority sector, its share in total...
This paper examines total factor productivity technical and scale efficiency changes in regional rural banks by using data from 192 banks for the period 1996 to 2002. Rural banks showed significant...
Faced with pressures of international financial liberalisation, it is natural that Indian policy-makers want intermediaries to consolidate and improve their competitive position in both domestic and...
The present study investigates the relative importance of macro (interest rates, inflation, etc) and micro (order flows, information, etc) variables in determining the short-run exchange rate...
In the early 1990s, India figured low in the global ranking of the state of capital markets. The adoption of sophisticated IT tools in trading and settlement mechanisms has now placed India in the...
such finance really efficient, it would be necessary for these financing agencies to improve their appraisal capabilities and methods. If their appraisal were really competent, Government would have...
IMF and International Liquidity THE primary component of international liquidity that a country possesses is its international reserves which are made up of gold holdings and foreign exchange assets...
November 8, 1969 ing the past two decades on the model of Digboi, are creating a cultural barrier between the people and the immigrant salariat bourgeoisie or commercial elements. In Namrup, at the...
August 9, 1969 to commit to political and constitutional fundamentals. These should be detailed with care so as not to offend the dignity of the Presidency. They should also honour the principles...
The Currency Cauldron THE international currency cauldron is on the boil again, this time because of the sudden departure of de Gaulle from the political scene. De Gaulle's own views on the currency...
December 14, 1968 If all banks are to go into these areas, how are their activities to be co-ordi- nated? Problems of co-ordination will become far more serious when multiple financing agencies rush...
Gnomes and the Titan DE GAULLE has said "non" again, this time to Germany and devaluation of the franc. International money markets, closed last week for varying periods and opened only this Monday...
The seasonal easy spell has continued in the interbank call money market. Last week, the representative call rate was maintained at 4 per cent as before, but an increasing number of transactions was...
Back to Top