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Latest Articles in joe c mathew

Not A Very Bright Idea

The proposed gold monetisation scheme to bring the idle gold lying in Indian homes to the banking system may prove to be a costly affair for banks. In the past, the Gold Deposit and Gold Metal Loan schemes have not been popular because of the low interest rates offered on those schemes. The proposed scheme will allow banks to sell the deposited gold to generate forex. However, the cost of refining the gold along with payment of interest on the deposits may prove costly for banks.

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Expectations Galore Cloud The Audit

About three months ago, veteran banker and HDFC chairman Deepak Parekh said the Narendra Modi-led National Democratic Alliance government at the Centre had not brought in any major changes “on the ground”. Since, then the situation has probably worsened. On the other hand, industry’s ‘first citizen’ Ratan Tata wants to give the new government more time before passing judgment on it.

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