Friday, September 4, 1998
Mandela fallout
Nelson Mandela's statement, on assuming chairmanship of the Non-Aligned Movement, calling for mediation by the movement on the Kashmir issue is significantly damaging. His statement does what Indian diplomats in the past have always taken credit for preventing: internationalising the Kashmir issue.
NPAs will not vanish
The higher level of non-performing assets (NPAs) of banks in India compared with that prevailing in, say, the United States has come in for sharp comment. A key reason for this difference is the inordinately long time taken by the legal system to give a decree in favour of the banks in this country.
Role of institutions in financial sector growth
It is not unnatural that the topic of financial sector development in India attracts debate. The consensus opinion among policy-makers and journalists appears to be that development banks (DBks) have not fulfiled their role as suppliers of long-term capital to the corporate sector. India is not alone in its resignation to the DBks' lack of performance which has been accepted in the developing world.
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