The history of the Post Office is deeply intertwined with human civilization. References to organized messenger systems appear as early as the Atharvaveda, while the oldest known letter, inscribed on clay tablets, dates back to 2095 BCE. Egypt had a postal system as early as 2000 BCE.In India, Qutb-...
Finance Minister Smt. Nirmala Sitharaman seems to have hit the nail on the head. She recently expressed deep concern over the large volume of unclaimed financial assets lying idle in the system—arising from unclaimed bank deposits, insurance and mutual fund payouts, pension settlements, and more. ...
In a period marked by economic turbulence and fluctuating market sentiments, the Reserve Bank of India (RBI) has chosen to hold its key interest rate steady at 6.50% for the ninth consecutive policy meeting. This decision underscores the RBI’s strategic approach to monetary policy, reflecting a cl...
On April 26th, 2023, Sergio Massa, Argentina’s Economy Minister made an announcement stating that his country would now pay for imported goods from China in Chinese Yuan instead of US dollars. Several months prior to this announcement, the Finance Minister of Saudi Arabia had also expressed openne...
Without involving the US dollar, ten months ago, it seemed straightforward for Indian refineries to import petroleum crude from Russia at a lower price. However, the situation changed when the war broke out between Russia and Ukraine, leading the US and its allies to prohibit Russia from exporting c...
15 years apart the history is seen to have repeated in the month of March this year!The US financial crisis that ripped through the banking and financial system in 2008 and had a cascading effect on the world economy, has again raised its head and shook the system. Of course, this time it’s not th...
Canara bank is running on positives as their Global Business have increased by 13.63% (y.o.y) to Rs.20,14,443 cr as at Dec 2022 with Global Deposits at Rs.1163470 cr 11.51% (y.o.y) and Global Advance (gross) at Rs 850973 cr 16.65% (y.o.y). Domestic Deposit of the Bank stood at Rs.1079700 Cr as at De...
The backpedalling from the new pension scheme to the old pension scheme is being debated. Few state governments have even restored the old pension scheme in the recent past.History of Pension The history of the Indian pension system dates back to the colonial era. It was the Royal Commission on...
In my article “Headwinds on Digital Currency”, published in “Business Economics” back in October 2021, I wrote about the RBI’s thought process on the creation of the Central Bank Digital Currency (CBDC), India’s own “E Rupee” (having the symbol “e`”). Almost a year after, the RBI...
Buzz words like crypto, bitcoin, digital currency etc. have revolutionised the financial sector - but in the absence of knowledge either we ignore these words or do not discuss them at all. Besides, governments, financial institutions, broadcast media and financial experts also do not bring them int...
