First an explanation of acronym called WLAs os White Label Automated Teller Machines. Basically these are ATMs run by non-bank entities.
In Feb-12, RBI issued draft guidelines to allow WLAs. Yesterday, RBI allowed WLAs to function:
Archive for June 21st, 2012
The Indian Miracle Lives…Really?
June 21, 2012I was not sure how to react to this article by Shashi Tharoor. In his typical style he does not agree to all the questions being raised on Indian economy.
But then he uses just the right word. Going by how things are currently, one can safely say 2003-08 India growth phase was indeed a miracle. However, he thinks it is still living on:
Why nations fail? 10 nations..10 different reasons
June 21, 2012Daron Acemoglu and James Robinson condense their blog and book into a superb article.
They points to really brief case studies of 10 failed states:
