Whence Regulation?

Ever heard of Dwolla?

Dwolla was founded by 28-year-old Ben Milne; it’s an innovative online payment system that sidesteps credit cards completely.

Milne has no finance background, yet his little operation is moving between $30 and $50 million per month; it’s on track to move more than $350 million in the next year.

Unlike . . . → Read More: Whence Regulation?

Investing in September

With the stock market off to a poor start to September due to a weak jobs report, and following the wild swings in the market last month, it might not seem like the best time to invest.  However, there are always opportunities to make money in the stock market, and I hope to lead . . . → Read More: Investing in September

The Cutting Edge of Indian Financial Reform

In recent years, there has been an upsurge of difficulties in Indian finance, rooted in the `financial regulatory architecture’ – the block diagram of which agency does what. A lot of what is found in India’s present block diagram is rooted in obsolete legislation.

On the SEBI/IRDA problem about ULIPs, Vivek Kaul is writing . . . → Read More: The Cutting Edge of Indian Financial Reform

The Two Great Industries of Bombay

A few years ago, when Percy Mistry’s committee was working on the MIFC report, I used to joke that of the two great industries in Bombay, movies will make it first to international customers. A few days ago in the New York Times, Anupama Chopra has a story showing that some action on that . . . → Read More: The Two Great Industries of Bombay

Mumbai as an International Financial Centre

Three fascinating new takes on Mumbai as an international financial centre:

Mukul Asher and Azad Singh Bali in DNA a few weeks ago. In the February 2010 issue of Pragati released yesterday, there are two articles on this: by Percy Mistry himself, and by V. Anantha Nageswaran.

A while ago, I had a blog . . . → Read More: Mumbai as an International Financial Centre

Hawala Banking And Currency Controls Part I

On HowToVanish many people have been asking questions in response to an article I posted about hawala banking. It is a great topic and one that I enjoy talking about so I thought I would respond by fleshing out what kinds of transactions take place in a hawala system and then answer the biggest . . . → Read More: Hawala Banking And Currency Controls Part I

The Low Level Equilibrium of Indian Finance

There is a fascinating editorial in Business World, which worries that Indian finance has `become moribund, and … no longer promotes either growth or competition ‘ which ends with:

To the question about what is to be done, there are no easy answers. It is necessary for wise people to reflect, to sit together . . . → Read More: The Low Level Equilibrium of Indian Finance