Page 9 - Ajay Shah

Does the ordinance solve the banking crisis?

The biggest threat in banking regulation is the pressure within the RBI to hide bad news at banks

Why FRBM failed

Fiscal responsibility legislation that does not constrain the Budget process is irrelevant

How can ARCs help solve the banking crisis?

For an ARC to make sense, it must be a simple private equity fund

Ajay Shah: Note ban's impact in 2017

Everyone is trying to survive the storm but some will falter

What's the meaning of a 250% change, SA annualised?

How much did exports change in the month of Nov? Here are the steps through this must be computed

Ajay Shah: A bad time for a crisis

India got a business cycle downturn in 2012. With demonetisation and weak global conditions, the difficulties have deepened

Ajay Shah: How to make digital payments work

Tech companies should be given membership of the Reserve Bank's RTGS system, which should be operational 24x7

Ajay Shah: A monetary economics view of the demonetisation

Money is the lubricant of the economy; a shock to the money supply disrupts the economy and could lead to recession

Ajay Shah: From despots to institutions

Reliable performance over the long term requires shifting focus from individuals to institutions

Ajay Shah: Eight principles for better regulators

Creating regulators was supposed to combat central planning, but India has often failed in this regard

Ajay Shah: Who will bear the loss?

A mature market economy is one in which failures are swiftly resolved and there is clarity about how losses will be allocated

Ajay Shah: Finance for the poor - Policy, not programmes

Enacting and enforcing the draft Indian Financial Code holds the key to financial inclusion

Ajay Shah: Who is afraid of algorithmic trading?

Instead of fearing technological change, it is necessary to develop capabilities for enforcement against market abuse

Shubho Roy & Ajay Shah: How to build tax administration

The CBDT must be seen as a mini-state and held at an arm's length from the finance ministry

Ajay Shah: Overhaul regulation of professions

In the stock markets, rule-making, enforcement and adjudication improved after independent professionals were put in charge

Ajay Shah: Worst-case scenario for the banking crisis

A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan

Ajay Shah: Great institutions, not great men

India must make sure that capabilities lie in institutions and not in one person

Ajay Shah: Forced unbundling for greater competition

A process of separating two industries is easier to enforce than fighting an integrated utility trying to hamper access to a new entrant

Ajay Shah: Prioritise banking reforms

The size of the banking crisis is roughly 10% of GDP and taxpayers should be unhappy about footing the bill

Ajay Shah: Tax policy for a globalised India

Public finance principles to consider when thinking about Mauritius, Panama, and FIIs