RBI is the banking regulator and obviously it has a role in development of the banking industry, right? Well, over the last so many years what is the penetration of banking in India? Well about 6-8% of the country’s population has some access to banking. Why we do not have banks with EXCLUSIVE mandate to […]
Recently when a kid wanted to borrow Rs. 20 lakhs, he went to a bank but got bad rates of interest. The documentation was painful, and the family was not sure whether it was the right thing to do. A rich uncle – actually his dad’s younger brother (kids chacha) offered the loan at exactly […]
I recently met a 85 year old man who has all his investments in bank deposits and post office deposits. This is a good portfolio – and he has about Rs. 12 lakhs. As his income is below taxable level he does not pay Income tax, nor does he file his IT return. He had […]
The amount of borrowing that the ‘West’ – including US and Europe have as of today is scary! The US and Japan will need about 5 and 3 trillion respectively in the next year (2012) – to remain where they are. Funny that the same countries who were telling the EAST -( in 1997) are […]
The US is not a socialist country. It is in fact a capitalist democracy. So the people can choose what they eat, what their children eat, how much to save….correct? Well, that is what I have been told to believe by some authors of Economic Thought. However in real life capitalism is about lobbying. For […]
For all those who have been reading about how badly the mutual fund industry, life insurance industry and the banking industry are suffering….please look at the results of all the banks! – Icici bank was more profitable because of the Rs. 350 crores from the life insurance arm – Hdfc mutual fund is the biggest […]
Most stories going around in the world are only about dishonest, misselling, cheating agents..do any of you have any idea about a few honest agents? The agency business is funny. Managers get people who are reasonably good in sales, but not too knowledgeable about the product, and make them agents.. here is a story: “I […]