Wednesday, 8 May 2013
Sunday, 24 March 2013
Financial Inclusion- Creating wealth at the bottom of the pyramid
“The importance of finance to economic growth has also frequently been ignored by economists.”
Fed Governor, Frederick Mishkin in 2005
WHAT IS FINANCIAL INCLUSION?
We had two committees in past which give definitions of financial inclusion: Rangarajan Committee on Financial Inclusion which defines it as “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.”
Raghuram Rajan Committee on Financial
sector Reform which described it as “Financial inclusion, broadly defined,
refers to universal access to a wide range of financial services at a
reasonable cost. These include not only banking products but also other
financial services such as insurance and equity products.”
Saturday, 23 March 2013
Wednesday, 6 March 2013
Arthsankalp-Panel discussion on Economic Policies
India witnessed resurgence of
reforms in the past couple of months and these reforms have great implications
on the business environment. As future managers, it is very imperative for B-school
students to analyze the macro economic implications of these policies. The
Finatix club of IIM Raipur organized the event Arthsankalp to provide a
platform to participate in the panel discussion for students from various B-schools
of India. The event witnessed both competitive spirit as well as knowledge
sharing spirit. The finalists were chosen after immense scrutiny in the first 2
rounds. First round was a quiz on economics in business environment. 540 teams
participated in the first round. Out of these 540 teams, 13 teams were
shortlisted for the second round which involved an article submission on the
topic: “Comparison of the economic policies of India, Japan, China and U.S.
economies”. 4 teams got shortlisted for
the final round which involved a presentation by individual team followed by a
brain storming panel discussion on the topic “Macro economic analysis of
recent reforms in retail, energy and financial sector in India."
Friday, 1 March 2013
Resurgence of 1991 reforms in India
Indian economy has witnessed major reforms in the year 1991 which include-liberalization of foreign trade, abolishment of
industrial license system and opening up of foreign direct investment. The
growth witnessed by Indian economy after 1991 can be attributed majorly to
these reforms. However, the current scenario is quite gloomy with a GDP growth
of 6.9%, fiscal deficit of 5.7% of the GDP and credit rating
of negative BBB-. In the wake of such turbulent situation, Indian Government
has introduced various reforms recently which include:
Thursday, 14 February 2013
Fiscal Cliff – A Bitter Medicine
“the
one thing that I think, hopefully, in the new year, we will focus on is seeing
if we can put a package like this together with a little bit less drama, a
little less brinksmanship, not scare the heck out of folks quite as much.”
-
Barack Hussein Obama II
This was a statement of
44th President of the USA on the New Year day of 2013. The statement
was about the most awaited “Fiscal Cliff Deal”.
US Treasury borrowed
trillions of dollars over the decade from the foreign investors to finance two
long wars and promote economic growth by fiscal stimulus. The Federal reached
the current debt limit of $16.39 trillion USD. Since the Federal government has
reached the borrowing capacity, the US Treasury is taking extraordinary
measures to raise money. The Bipartisan Policy centre forecasts that the debt
ceiling would have to be raised between $ 0.73 trillion USD and $ 1.25 Trillion
USD to extend the government’s borrowing capacity through 2013.
Monday, 1 October 2012
BASEL Accords
Basel is 3rd
most populous city in Switzerland sharing the borders with France and
Germany. It is hub for chemical and
pharmaceuticals which is located on the banks of river Rhine. Basel culture is
influenced by Germany and France.
Basel Accords:
These are
banking supervision records. They are issued by Basel Committee on banking
supervision (BCSB). As BCSB maintains its secretariat at Bank for International
Settlement, Basel, it is called Basel Accord. The committee normally refers
here and have issued three accords.
Subscribe to:
Posts (Atom)
