Archive for February 14th, 2013

Should banking be a Fundamental Right of people?

February 14, 2013

A nice thought provoking speech from  Dr. K.C. Chakrabarty of RBI.

He says banking is not a fundamental right so far. As banks are expected to provide basic banking services to all. More importantly, they cannot deny the banking services to anyone who asks for it (barring for frauds, crimes etc.):

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Linking security to economic growth…

February 14, 2013

Well a useful speech by the FM. Though, it also suggests whatever is wrong with the current administration. The seeds for current fiscal mess were sowed way back in UPA-I (2004-09).

Being the home minister in first 3.5 years in UPA-II, he knows a bit about security. And as he has mostly handled the finance portfolio as a Minister (whenever his party is in power), he ofcourse knows finance. Infact, I dont think anyone understands finance better than him. Though, most of the time it is about tricks like off-balance sheet bonds in 2004-09 regime which led to lower fiscal deficit. This time it is keeping plan expenditure low and using the cash surpluses generated from lower exp to keep fiscal deficit lower. And then most people forget that the recent fiscal mess which was mainly started due to fiscal stimulus in 2008-09 was allowed under his previous tenure as FM..

First some bit on India’s security:

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