OPINION
FARM CREDIT
Farm credit needs a lending hand
Even as the banking scene is changing, so are the needs of farmers, who are thought of as a class of interest rate-insensitive habitual borrowers with an insatiable thirst for credit. But this is far from the truth as they are also major savers, an d pay high enough interest rates to make rural banking remunerative, says N. K. Thingalaya, suggesting that banks must re-orient their rural services to changed times.
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EDITORIAL
Quiet flow the funds
COME APRIL, AND an ordinary customer will be able to send and receive funds in a jiffy through banks. Funds will move in and out of branches and between banks in seconds. An ordinary depositor need no more pick up a cheque book or buy a demand ...
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COURTS/LEGAL ISSUES
Interim relief: A word of caution
Over the years, the Supreme Court itself has specified the principles which the High Courts and trial courts are expected to follow while considering petitions for interim relief. However, where the apex court believes that the principles have been g iven the go-by, it may intervene to ensure that no injustice is done to the parties concerned, as it did in a recent FERA violation case.
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FOREX
Capital Account Convertibility — Right road, but best with speed-breakers
With foreign investors investing their money on the Bombay Stock Exchange and Indian companies acquiring foreign assets with foreign capital, full rupee convertibility seems the way to go now. But there is need for careful monitoring of the inflows a nd their end-use as, otherwise, India could invite trouble like the East Asian and Latin American countries.
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POLITICS
Keeping one's word
WHEN I read the news item about the Prime Minister, Mr Atal Bihari Vajpayee, explaining why he had not kept his word about contesting another election after 1999, I recalled an excellent anecdote from one of Bernard ...
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PRIVATE BANKS
Private banks: Profitability easier to invent than reinvent
If the banking sector has an NPA level of 3-4 per cent of GDP, and is still "improving dramatically," it is because a "large number" of banks made huge `treasury' gains, which they used judiciously to "clean up" the system. Private banks, relative ne wcomers, did not have much spring cleaning to do.
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VENTURE CAPITAL
VC funding: Nothing ventured, nothing gained
Since many innovations and inventions cannot be commercialised due to lack of funds, venture capital finance acts as a strong impetus for entrepreneurs to develop products involving newer technologies and to commercialise them.
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LETTERS
Price cut in medicines
Ma Foi clarifies
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