The Financial Express -- Expressions

This page contains Editorial and Op-Ed articles

Thursday, November 13 1997

Letters to the Editor

Another major step towards reforms

The monetary policy for second half of 1997-98 has unfolded wide ranging changes exposing banks to forces of stiffer competition. According to the Reserve Bank of India this is the second monetary policy of the second phase of reforms which has rightly focused on enhancing organisational efficiency. Therefore implementation of monetary policy would be a greater challenge, as it would involve reorienting the work-force towards attaining higher operational efficiency.

Wooing foreign capital to stay

The anxiety of the Union finance minister to induce foreign capital to come to India is understandable. But clearly prudence has to be exercised even here. Already currency crisis in South East Asian countries such as Malaysia have led to large scale capital flight in order to avoid currency risk.

Rising NPAs

Bank of India's half-yearly results, declared on Wednesday, are the company's first results after going public. But apart from that, the area of larger interest is the fact that the level of non-performing assets have increased. According to the bank, NPAs net of provisions have increased to 7.97 per cent as at end-September from 6.52 percent as on March 31 this year. This may, after all, be a temporary problem.

Another major step towards reforms

Moderation on trade

Wooing foreign capital to stay

The Index -- East India Hotel

Rising NPAs