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After a district court in New York interpreted "pari passu" in a debt restructuring contract to mean all those who own Argentine defaulted debt, irrespective of whether they were the original...
An ongoing debate in India is whether or not Indian non-banking fi nancial companies (NBFCs) are “shadow banks”. This question appears important because we have learned from the ongoing global fi...
The Reserve Bank of India and the government are taking contradictory approaches on liquidity and interest rates. The one eases liquidity but keeps interest rates high, the other promotes debt-...
Most companies would think twice before operating at a debt to equity ratio (or leverage) of 2:1. Some capital-intensive businesses, such as shipping, opt for a ratio that is considered outlandish...
In August 2010, the then Union Finance Minister Pranab Mukherjee sought to cut the government’s stake in the State Bank of India (SBI) from 55% to 51% and push the bank to raise more capital from the...
Today it is the Brihanmumbai Municipal Corporation's decision to privatise its schools, tomorrow it may be the resolution of all the other municipalities of the country.
The Financial Sector Legislative Reforms Commission has exploited its ambiguous terms of reference to suggest a complete revamp of financial regulation. The recommendations, if accepted, would shift...
It is one thing to revere one's hero but quite another to consider him to be god. Following Ambedkar means being inspired by his vision of "liberty, equality and fraternity" and acting in accordance...
The manner in which Irom Sharmila's demand for the repeal of the draconian Armed Forces (Special Powers) Act has been handled by the Indian state is indicative of its intent to further narrow the...

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