Banks lending in rural India is a great thing to have happened. Most people who borrow are genuine -but there are some politically supported borrowers too. The main reason why a person in India (or in any part of the world too!) repays the loan is ‘because it is the right thing to do’. This […]
Here is a book review for this great book….and this appeared in BSENSEX – BSE-SENSEX – it is a magazine which goes to the CEOs of companies listed on the BSE and to all its members. The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash” by Charles R. Morris One of […]
Governments have two major advantages. One they have an unlimited scope for income – agricultural tax, excise duty, service tax, income tax, estate duty, etc. The more worrisome advantage is their ability to print currency notes. Ask Ben Bernanke – he converts coniferous trees into billions of dollars! The worry is for people who lend […]