Central bank's decision to the raise the loan-to-value ratio is welcome relief for formal banking, but it does not address the issues faced by the most badly affected segments of our economy.
Mani Shankar Aiyar remembers economist Deepak Lal, who remained for 65 years one of his closest friends, as a deeply empathetic confidante and a mentor on everything 'civilised'
 "Mani Shankar Aiyar")
