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COVER
STORY
Special
Economic Zones
- - K Seethapathi Arindam Banerjee
Of
late, the Special Economic Zone (SEZ) Act, 2005 has
generated considerable interest both among the domestic
and the foreign investors that were waiting to establish
their respective units in these areas. The article provides
a commentary on the relevance of SEZ in the domestic
domain and discuses the global scenario pertaining to
the same.
© 2005 IUP. All Rights Reserved
TREASURY
Collateralized
Borrowing and Lending Obligation (CBLO): A Triumph of
Financial Innovation
- - Rajendra Kumar
Recently,
the Indian financial market has undergone huge technological
advancement with a view to bring some fundamental changes
in the financial market in the form of the ability to
shift not only the funds from one place to the other
but also from one market to the other and taking their
positions in various segments of financial market say
like CCIL, NDS, RTGS system, Centralized Funds Management
System (CFMS) and Electronic Clearing System (ECS).
© 2005 IUP. All Rights Reserved
TREASURY
MSS
- An Effective Tool for Liquidity Management
- - Ganapati Mendali
The
Indian forex market has once again shown a high degree
of volatility in the recent years. However, many developments
in the open market operations taking place in the Indian
forex market have brightened the future prospects for
the Indian economy significantly in the current financial
year. As such, many possible circumstances would also
be supported by Market Sterilization Schemes to play
an important role towards the forex market volatility
and thus maintaining the overall liquidity in the system.
© 2005 IUP. All Rights Reserved.
TREASURY
Infrastructure
Financing
- - Sanjeev Kumar
Infrastructure
plays a key role in economic growth; it provides vital
support to the productive sector and improves overall
standard of an economy. Since infrastructure development
requires huge investment, the proper financing system
is required for effective implementation of these projects.
This article provides a primer on various options available
for infrastructure finance in India and issues pertaining
to them.
© 2005 IUP. All Rights Reserved
TREASURY
Foreign
Investments in India (FDI and FII): An Overview
- - TR Shastri
India
has come a long way after the liberalization of foreign
investments either under FDI or FII windows which began
in the early 1990s. The actual inflows have been substantial
both in quantity and diversity. Such funds have helped
the balance of payments situation in the short-run and
in initiating qualitative change in the foreign investment
ambience in the long-term. The relative merits of the
two routes, the entry level barriers to be in force
and even the desirability of any quantitative ceilings
such as Tobin tax have been expressed from time to time.
This article gives a holistic view of the foreign investment
scenario with an update on the current position.
© 2005 IUP. All Rights Reserved
TREASURY
FDI
in Brazil
- - Kalyan Sandilya J
Many
empirical works have revealed the resultant effect of
Foreign Direct Investment (FDI) to the country's exports
and other economic performance indicators. This article
discusses the Brazilian strategy towards FDI and the
indication of profit remittance with significant adverse
movement in the long-run, which effects the FDI attraction
policies for the country's economy.
© 2005 IUP. All Rights Reserved
RISK
Money
Laundering: Challenges Ahead
- - MPM Vinay Kumar
Technology
has played an important role that has helped launderers,
successfully indulge in money laundering process through
online banking facilities and electronic funds transfer.
However, it is technology again that has restricted
such individuals from money laundering with the new
innovations in the IT industry. The Acts are not that
impressive, but the implications are serious/ India
has become vulnerable in money laundering activities
and RBI's panel has given recommendations to all in
the banking sector and the financial institutions to
contain money laundering by investing in technology.
© 2005 IUP. All Rights Reserved
SPEECH
Global
Banking: Paradigm Shift
- - Malcolm D Knight
It
is a great pleasure to be here today to deliver the
inaugural address at the fourth Annual Conference of
the Federation of Indian Chambers of Commerce and Industry
(FICCI). The last time I participated in the FICCI Conference
was in September 2003. The theme then was ``Indian banking
- global benchmarks''. Today it is ``Global banking
- paradigm shift''. This subtle change of emphasis in
themes-from Indian banking to global banking-clearly
reflects today's reality: The increasing globalization
of the Indian economy.
© 2005 Bank for International Settlements (www.bis.org).
Reprinted with permission.
BOOK
REVIEW
Business
Cycles: Country experiences
- - V V Ramani
With
the Asian Economic Crisis, it was proved how the world
economy could land up into crisis. Most of the world
economy faced this recession and the countries largely
affected are United States, Japan Malaysia, Singapore,
Argentina, Canada, Brazil, Mexico, Germany, etc. South
Korea and Taiwan are improving from their worst downturn
whereas the Japanese economy is still suffering with
deflation. The revival is slow and steady and most of
the economies mainly recovered because of consumer confidence
in the global economic prospects. This book illustrates
the international business cycles and their synchronizations.
The experience of the countries like European Union,
United States, Italy, Brazil, Argentina, Japan, China,
Hong Kong and India are given in detail.
© IUP. All Rights Reserved. For
more information and to procure this book visit www.iupindia.in/books
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