Archive for June 15th, 2015

Book Review: A Swadeshi Bank from South India

June 15, 2015

While reviewing/recommending old historic books, one does not know how to help interested people find the book. This is one such book and is a gem on history of Indian banking and finance.

This book narrates the history of Indian Bank which the author calls it as a Swadeshi Bank from South India. It is written by RK Seshadri, former deputy Governor of RBI. The author does a great job of fitting the evolution of the bank against both domestic and global backdrop.


China’s new Silk Route initiative – Signs up with Hungary as first partner

June 15, 2015

Adam Minster of Bloomberg informs of this development:


Growing India-China relations..

June 15, 2015

Two articles and both by Chinese authors. Both showing how India-Chinese relations are improving with each passing year.

First by Le Yucheng, Chinese Ambassador to India and second by  Tang Lu, Mumbai Bureau Chief of Xinhua News Agency.

This is welcome given the role both these countries are going to play in emergence of Asia (minus Japan) in global polity. Though, one disagrees that this is just this government’s doing. Efforts have been made in the past to link more and more with China over the years. China’s role in Indian politics has been understood for a very long time. It is just that certain things take time for materialise. Though, one cannot dispute how well these relations have been marketed and sold under the new govt. It is a master of all such ceremonies.

The near collapse of US and Europe has led to focus on China for taking up the role of the global leader. It realises that alone it might not be able to and may take more time.  With India as a co-partner, it gets more credibility (due to India being a democracy and soft power) and might take lesser time as well.

It will be interesting to see how Indo-China games play out in future..



Case of Sushma Swaraj: Magazine/Newspaper curse continues to kick and ruin careers..

June 15, 2015

How quickly times change. This is especially true in govt and policymaking.

On  the eve of one year anniversary of Indian govt, newspapers/magazines/experts voted Sushma Swaraj as the best minister in the cabinet. This blog was really surprised to read this. A senior leader like Ms Swaraj was nearly ignored for in the one year by both the govt and the media. So to be noted despite keeping off the hype was just amazing.

Just within a few days, the fortunes have turned. Minister Sushma is in docks and opposition is gunning for her resignation. The issue is giving visa to Lalit Modi, the former IPL commissioner whose passport was revoked by previous govt. IPL continues to haunt politicians/cricket administrators ever since it started in 2008.

This is a classic case of newspaper/magazine curse . This curse means that if you feature in any of the top magazines as someone who has done wonders, it is about  time that your fortunes will reverse quickly. Earlier it was only meant as a Time Magazine curse but applies generally to other magazines/newspapers as well. Just that the curse usually takes sometime to work out just like a business cycle takes time ton reverse. This one was really  quick.


Capital account convertibility and cooking..what is the connection?

June 15, 2015

Manasiecon blog keeps coming out with one idea after the other.

This time it is connecting capital account convertibility to cooking of all things. The idea is one can cook quite a bit in the limited time given we get the sequencing right. Same with capital account convertibility where sequencing is crucial to its success:


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