Archive for July 22nd, 2016

The rising culture of Indian CEOs as superheroes which is not such a good trend..

July 22, 2016

What was essentially a western fad has caught up big in India as well. It is all about being superstars and superheroes in whatever you do. The trend has particularly caught up in economic policymaking and business circles. The India media has started to love superstar policymakers and CEOs and hypes it with no holes barred. And then when it realises the follies of projecting an individual over an organisation, the blame is put on the individual!

Sundeep Khanna in this article points to this rising trend in India. We need CEOs as company faces but not overblown superstar images:

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SEBI’s role in shaping capital markets since 1991: progress, cooperation with finance ministry and humility….

July 22, 2016

In the 25 anniversary celebrations of 1991, we are seeing quite a bit of activity. It has given a continuous fodder for this blog as well.  There are all kinds of articles (this one is a good summary) with each of the key actors trying to assess how things happened and their roles in the same. Some like Dr MM Singh call it a team work whereas others like Montek point to how their document was the brainchild. This is truly the finest hour for the lost legacy of the then PM PV Narasimha Rao who has a mixed record with success in economics but not politics. This was interesting in itself as he had no understanding of economics and was always a politician. But then I guess things are being carried too far away pointing to all kinds of characteristics which were behind the reform. We tend to overdo all such things and not just accept that somehow certain things happen.

Anyways, there is plenty of learning happening.

So far the discussion has been around the Prime Ministers, Finance Ministers, Central bank people and Planning Commission members. Most of these interviews were but expected. Most of them have been superstars of financial media in their own way.

This one article looks at a silent player – SEBI – which changed the capital market game in a big way. This is one area where our progress has been huge but it is barely discussed. The person here is DR Mehta whose seven year tenure changed quite a few things at SEBI. Unlike others, he just calls it a job. He also adds there was never a conflict with any of the Finance Ministers:

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Controversy over installation of Thiruvalluvar’s statue in Hardwar…

July 22, 2016

Thiruvalluvar, a Tamil poet was often referred in budget speeches of former Finance Minister P Chidambaram’s budget speeches.

The poet’s statue is finding it difficult in getting installed in Hardwar. On 18 July, Hindu reported:

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Moving Indian banking beyond BBB to an ‘A PLUS’ …

July 22, 2016

Prof. Gurbachan Singh of Indian Statistical Institute says the more we try and change things with Public sector banks the more they remain the same. Appointing a BBB is a positive step but will not change things much. We need to move from BBB to A plus banking.

What is A plus? It is an acronym :-):

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How industrial cluster policy leads to inter-firm transaction networks

July 22, 2016

Three Japanese researchers (Toshihiro Okubo, Tetsuji Okazaki and Eiichi Tomiura) point to this interesting research.

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