The average Indian is certain of three things apart from death and taxes. One is that banks in India cannot fail, two is that gold prices cannot fall and three is that real estate prices cannot fall. Indians have reasons to believe these three certainties of banks not failing and gold and real estate prices not falling. After all banks have not failed in India over the years and those who have failed have been taken over by other banks (Global Trust Bank is one example where RBI made sure it was taken over by a stronger bank, the Oriental Bank of Commerce). Cooperative banks keep failing and RBI cancels their licences frequently...........
The very purpose of VITALINFO is to provide a platform for wider dissemination of updated information related to and happening of events in and around RBI.
1 comment:
The Cyprus shock gives us an
opportunity to trim our ambitions and tailor our projects and programmes in
such a way as to harmonise them with resource availability. Cyprus suffered
from an over-sized banking sector some 8 times the size the country needed.
Taking a lesson from the failure of this country despite several positive
factors in its favour, India
and states like Kerala in particular should review ambitious projects involving
massive investments dependent on borrowing and investments from outside.
Post a Comment