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Madan Sabnavis

Articles By Madan Sabnavis

405 Articles

Gold and social stock exchanges bound to click

While the space will be open to new players, existing exchanges can also have separate desks for these products.

Third, there are ETFs in gold where the fund manager looks after the NAV and regularly trades in gold while maintaining the reserves so that the holder can exchange the ETF units for gold, if needed.

Book Review — Noise: A Flaw in Human Judgment by Daniel Kahneman, Oliver Sibony and Cass R Sunstein

A case to cancel out human as well as AI biases while taking decisions

noise book review

The PLI principle – Progressive approach to providing incentives to industry.

From encouraging crop diversification to generating employment, the use-cases are many

Providing incentives will work well and ensure that the focus is on being fair to labour.

What if the NCDEX merges with the NSE?

If it happens, there will be speculation of some alliance between the MCX and the BSE for sure

It points to certain broader issues that afflict the commodity derivatives market; this is unfortunate, given when futures trading was resurrected in 2003, the belief was, for a commodity-based economy, growth would be exponential.

The Libor’s last tango: Important to get a sense of the costs of Libor regime ending & consequent shift to new benchmarks

It is important to get a sense of the cost of this change for Indian entities as well as RBI’s thought process on the benchmark to be used.

Based on the report, a show cause notice was issued.

The Learning Curve | Book Review – Skill It, Kill It: Up Your Game by Ronnie Screwvala

A guide to acquiring necessary soft skills to mould one’s career, peppered with advice from successful leaders.

Skill It, Kill It

Making independent directors truly independent

A ratings-based algorithm that recommends potential independent directors to companies can help

Governance is about equity, balance and fairness, and the gatekeepers need to hold themselves demonstrably independent and uphold their moral compass.

Book Review — How to Make the World Add Up: Ten Rules for Thinking Differently About Numbers by Tim Harford

An entertaining reckoner on how to look at data and how it cannot be taken for granted

A file photo of share trading at a firm in Kolkata (Express photo)

The economics of loan guarantees

The Centre’s credit guarantee scheme pushes down the interest rates on savings as also PSBs’ interest income

The NHAI is currently developing several expressways, including Delhi-Mumbai, Delhi-Katra, Bengaluru-Chennai and Delhi-Dehradun.

Economics, then and now | Book Review: More by Philip Coggan

A cogent and concise tracing of economic events since it all began 10,000 years ago

How to distribute Covid-19 vaccines

Prioritising states will need to balance many considerations, including population, share of infections in total population, share in overall infections in the country, etc

Ringside View | Book Review — India’s Power Elite: Class, Caste and a Cultural Revolution by Sanjaya Baru

An insider’s account of the wheeling and dealing in the country’s power circles

A file photo of Prime Minister Narendra Modi at Vigyan Bhawan in New Delhi Express photo

Gold exchange a good idea

The proposed gold exchange will open competition across modes in which the metal is transacted

Gold price

The Power of Six | Book Review — Rethinking Competitive Advantage: New Rules for the Digital Age by Ram Charan

A book outlines six principles which can be applied to any company that wants to be competitive

Jack Ma had no knowledge of technology, but was able to conceive algorithms to gather, process and transmit digital information of all products and customers across his network to create Alibaba Reuters

What to make of RBI’s QE: The govt was the winner in 2020 and is so again, in the latest round

The curious part of this QE exercise was that all these measures were invoked at a time when there was surplus liquidity in the system.

RBI

Book Review: The Fail-Safe Startup by Tom Eisenmann

A book provides a clear view of why startups fail and how they can avoid the pitfalls

The author is a professor at Harvard Business School who has taught the course on 'entrepreneurial manager' and has been an angel investor in some startups.

Poll Position: Making sense of elections and Covid-19 numbers

Kerala's share in the April-over-March increase in the country's Covid-19 cases stayed virtually flat, TN's rose by 0.9 ppts, WB's by 2.4 ppts and UP's, a scary 7.9 ppts

The accompanying table looks at infection information over March and April.

Covid-19: How to meet vaccine costs?

If 140 crore citizens were to get two shots (in reality, 18 years is the cut-off, so 40% are excluded) at a manufacturing cost of, say, Rs 500 at the upper limit, then the cost would be Rs 1.4 lakh crore (0.7% of nominal GDP)

As this may be a two-year exercise, Rs 70,000 crore per year is doable, and the split between the Centre and states will make it not more than 0.35% of GDP. The other route is to have differential pricing for the population based on the ability to pay

‘Alien Thinking: How to Bring Your Breakthrough Ideas to Life’ (Book Review): Getting out of the box

An interesting read on how makeshift ideas can lead to long-lasting innovation

Bertrand Piccard created a solar-powered craft capable of flying around the world without fuel (AP photo)

M Narasimham (1927-2021): The father of banking reforms

On the whole, M Narasimham would have been satisfied with the progress made in reforming banking in India, given the socio-economic conditions in the economy where it is not easy to change systems easily. Where it was urgent,

The first relates to privatisation of PSBs. This is something that the government is looking at seriously, as per the Union Budget of 2021-22.

Robert Mundell (1932-2021): Mundell can never be forgotten

Robert Mundell may not be as famous as John Maynard Keynes or Milton Friedman, but holds an important place in the pantheon of economists, and the ‘impossible trinity’ will be something that will never move out from the d

Lockdowns Again: Back to the start?

The economic impact of the current lockdowns will be significant, though not as sharp as that of last year

For a country that is still struggling to deliver vaccines to the public, distributing this amount will be a big challenge as beneficiaries have to be identified.

Stock market beats the virus

All through the year, the markets were not too much enthused by government policies as the series of announcements made under Atmanirbhar Bharat campaign drew an indifferent response. The same was with the Union Budget. There

The market does not really bother about the level of infections, and while there are a couple of sessions that witness a decline in the Sensex, it is back to business

Cash Reserve Ratio: Should the CRR be retained?

It can be argued that the CRR should remain, and RBI has been fair to banks as the cost of the CRR is permitted to be included in the calculation of the base rate and the MCLR.

Therefore, the cost is loaded finally to the borrower and not really borne by the bank exclusively; globally, the CRR exists and is as high as 17% in Brazil, 11% in China and 8% in Russia. In India it will soon be 4%. It is nil in the US, 1% in the UK and 2.5% in South Africa

‘Non Obvious Mega Trends’ (Book Review): The times they are a-changin’

The world is dynamic, and businesses have to keep pace, especially with technology

A file photo of a worker assembling commercial data servers for cloud computing at a Hewlett-Packard manufacturing facility in Houston, US (Reuters)
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