Momentum suggests 9 per cent for the full year The overall Index of Industrial Production (IIP), which includes the three components of manufacturing, mining and electricity, grew at a pace of 10.3 per cent during October. This is lower than what was expected, but higher than the 9.1 per cent for September. With this, the April to October growth rose to 7.1 per cent, up from 6.5 per cent in the...
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End hand-holding: Let Banks grow up
The RBI has reason to be concerned. Banks’ exposure to mutual funds (MFs) has more than trebled, from Rs 45,000 crore to Rs 1,64,000 crore, during March-November 2009. The RBI is worried that stock market volatility could impact Banks and, hence, endanger financial stability. Hence, the overall cap on stock market exposure as part of macro-prudential regulation. Currently, the aggregate exposure of a bank to the capital markets in all...
More »Climate issue a big worry for Indians: Survey
As delegates from across the world begin negotiations at the Copenhagen summit, a survey by The Nielsen Company and Oxford University Institute of Climate Change reveals that while Indians were "very concerned" about climate change, globally, concern on the topic has declined. According to the survey conducted in October 2009, concern for climate change in India has increased by 1% in the last two years, with 54% Indian consumers expressing...
More »BASIC draft calls for technology transfer mechanism by Aarti Dhar
It is to counter the Danish draft that proposed tough action by developing countries Call for setting up of a Global Climate Fund The four emerging economies — Brazil, South Africa, India and China — have recommended the establishment of a mechanism to develop and transfer environment-friendly technology to developing countries, remove barriers in technology transfer and appropriately address issues of intellectual property rights. The BASIC draft proposed by these four developing...
More »The Ground Beneath Our Feet by Tripti Lahiri
CITIES MAKE one simple promise to newcomers: Sacrifice yourself to me and your children shall prosper. This promise drew Ahmed Raza, a small-time wrestler from an Uttar Pradesh village and millions like him to the capital of newly-independent India. Raza kept his part of the bargain, yet half a century later, his daughter was pushed out of the city her father helped build, the only home she has known. “I...
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