Archive for March 1st, 2017

Interesting ironies: As India is pushed towards digital payments, Indian IT companies are obsessed with cash

March 1, 2017

It is kind of ironical when you read that Indian IT companies remain obsessed with cash and hold large cash balances. That too at a time, when the mere mention of the word cash is seen as a kind of sin in India. Well yes I know that Indian IT companies do not hold cash as people do.

But still it makes for a weird feeling. On one hand it is the IT companies which are directly or indirectly behind the war on cash. But on the other hand, they hoard so much cash balances.  Cash after all is king whether for individuals or companies.

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60 years of Bundesbank..

March 1, 2017

The iconic Bundesbank completes its 60 years on 1 Aug 1917.

The bank is going to celebrate (but obviously) and has put up a seperate site giving a timeline of the history so far.

How did the Bundesbank become an independent institution? How were the German gold reserves created? And how did the D-Mark reach eastern Germany? In the anniversary year of 2017, the Bundesbank is looking back at its history and providing numerous opportunities for the public to get to know the central bank and its tasks.

On 1 August 1957, the Bundesbank Act came into force, making the Bundesbank the central bank of Germany. For sixty years it has ensured a stable currency – firstly supporting the D-Mark for a good four decades, and then the euro, Europe’s single currency, since 2002. “Our principal task is to safeguard the value of our currency. To accomplish this, we need the confidence and the support of the public,” said Bundesbank President Jens Weidmann at the beginning of the anniversary year.

On the occasion of its 60th anniversary, the Bundesbank is making a wide variety of information available to the general public. By means of online and printed media as well as numerous events all over Germany, members of the public can discover how the Bundesbank came into being and learn about formative events in its history and its tasks.

Nice bit to follow…

Book Recommend: Banyan Tree to E-trading – SEBI An Agent of change (25 years of SEBI)…

March 1, 2017

Securities and Exchange Board of India or SEBI is undergoing a change in its leadership. Tamal Bandypoadhaya pays a nice tribute to the outgoing SEBI chief – Mr. UK Sinha.

It is coincidental that I stumbled on this book – Banyan Tree to E-trading – SEBI An Agent of change – just recently. The book was released on completion of SEBI’s  25 years in 2013 (1988-2013). Though, not a pure historical account the book still serves as a useful guide to evolution of stock markets in India followed by SEBI much later. It is more like a coffee table book as mentioned  by former FM P Chidambaram in the book. The book is published by SEBI and am not sure whether it is available on bookstores etc. SEBI could put it up as a PDF for download which will be really useful.

The book has amazing pictures drawn from variety of sources which tells you much more than several words. Right from the first banyan tree where equity trading started (more on this in a later post) to today’s screens, it pretty much captures the space.

SEBI comes in the picture much later but changes the game like no other. Interestingly, SEBI did not start in 1991 but in 1988.PM Rajeev Gandhi who held the finance portfolio as well, in his budget speech (1987-88) said:

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