The government now talks more openly than before of outright privatisation of some of its smaller banks. Ironically, the repeated rounds of capital infusion have meant that government ownership in these banks has increased proportionately. Yet sale will have to be at poor valuations, since all of them quote at significant discounts to book value, writes T N Ninan here
The US is a wonderful example of how a political party with minority support can cling to power for decades despite a free press and an academy, which points out distortions loudly and repeatedly. Managing this electoral “miracle” is even easier in a multi-party system, where academics and mediapersons are thrown in jail for speaking truth to power, writes Devangshu Datta here
“Monetary policy at this stage has to provide adequate support to ensure a robust revival of the economy from the devastating effects of Covid-19, while at the same time ensuring that any persistence of elevated inflation does not lead to unanchoring of inflation expectations .”
RBI Governor Shaktikanta Das (Minutes of the Monetary Policy Committee Meeting)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.