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Wanted:
A few good men |
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On November 22, RBI deputy
governor Vepa Kamesam, towards the end of his speech on corporate
governance at the ASCI in Hyderabad, drew attention to the beautiful
words of Benjamin Franklin: “A little neglect may breed great
mischief... for want of nail, the shoe was lost; for want of
shoe, the horse was lost; for want of horse, the rider was lost;
and for want of rider, the war was lost.” |
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Destination
India for foreign banks |
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Most major foreign banks, with
a strong international presence, recognise India’s relative
economic performance in relation to other emerging market economies
and its potentially huge market. |
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Defaults
may spoil the party for credit card issuers |
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The credit card business is
booming despite an economic slowdown, and all issuers want a
share of the pie. But there is another side to it: defaults.
The business is poised for a leap, and defaults could be a dampener.
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Money-changers
face a third wave and a future shock |
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Money changers may well be
short-changed. The Reserve Bank of India’s move to do away with
the need for endorsing forex releases by money changers will
not just add to an increase in the level of forex allowed to
be carried overseas and give an unexpected boost to the industry.
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