Separating Banking Supervision

In this article, published in 1998, I argued that there is no evidence to suggest that separation of banking supervision from central banks will enhance the effectiveness of either supervision or monetary policy. On the contrary, it could be detrimental to both. The article was published in the Op-Ed page of Economic Times dated 5 October 1998. Continue reading “Separating Banking Supervision”

Lion and Palm Tree: The Title

The title, lion and palm tree, is based on the design used by the East India Company for its single and double mohur coins. The Company issued coins in gold, silver, copper, and even tin. The gold coins were known as mohurs and were not legal tender. These were issued in one-mohur and two-mohur denominations valued at Rs. 15 and Rs. 30 respectively. The relevant Act of 1835 also authorised issue of 1/3rd and 2/3rd mohurs of value Rs. 5 and 10 respectively, though I am not sure whether these were actually issued. These single and double mohur coins, first issued in 1835, had the image of King William IIII on the observe and the design of lion and palm tree on the reverse. Continue reading “Lion and Palm Tree: The Title”

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