The Human Cost of Futures and Options Trade: A New Lottery   Introduction and the Allurement of Derivatives Trading In recent years, derivatives trading in India has experienced a significant surge in popularity, particularly among young individuals and those residing in tier-II and III cities. The lure of making quick profits and the incessant trading calls from experts on television channels or finfluencers on YouTube have fueled the greed of individuals seeking financial gains. The […]

The Life and Times of Subrata Roy: A Journey from Rags to Riches to Jail   Introduction Shankar’s book “Bangalir Bittyosadhana, Saharar Itikatha” (Bengali’s financial aspirations, Sahara’s history) which was published in 2003 with a photo of Subrata Roy on the cover highlighted the unworldly rise of Roy’s from a modest salted snacks seller to a billionaire media-to-realty business magnate. It showcased Bengali’s youth aspiration for wealth and success. However, the book depiction only covers […]

Diamond Industry Plans to Reduce Bank Financing by a Third in Response to Waning Global Demand   India’s diamond industry is taking proactive measures to reduce its bank financing needs in light of the declining global demand for diamonds. The industry plans to decrease its financing requirements from $6 billion in FY23 to $4 billion for the current financial year. This decision is driven by the need to manage accounts effectively amidst a challenging market […]

GIFT City Seeks Regulatory Changes for Family Offices   Introduction Family offices, used by affluent individuals to safeguard and grow their wealth overseas, have found support from the International Financial Services Centres Authority (IFSCA) in GIFT City. Recognizing a larger concern of unregulated outflows of capital, the IFSCA has approached the Ministry of Finance and Reserve Bank of India (RBI) to explore regulatory changes that could facilitate the establishment of family offices in GIFT City. […]

Appointment of Whole-Time Director(s) in Compliance with Corporate Governance Guidelines   Introduction In accordance with the instructions provided in paragraph 10 and 11 of DOR.GOV.REC.8/29.67.001/2021-22 dated April 26, 2021, regarding ‘Corporate Governance in Banks – Appointment of Directors and Constitution of Committees of the Board,’ proactive measures need to be taken to address the evolving challenges faced by the banking sector. Establishing an effective senior management team becomes crucial in navigating these challenges and facilitating […]