Friday, October 10, 2008

Safest Banking System - Where Does India Stand


This is a news story reported in today's Economic Times (10th of October 2008): "Canada has the world's safest banking system." Fair enough. Now what do you expect an Indian to search for in this news item. Where do Indian Banks stand? But no. Not a mention of India. Now this is real stupid. I understand that the news item is by Reuters. Reuters is not India-centric so I do not expect Reuters to perhaps mention India. But Economic Times is an Indian paper. All that is required is a little bit of digging to provide us with this small piece of information. Editors need to understand black ink is not just there to fill up pages. It needs to convey meaningful information too.

By the way, it took me exactly 10 minutes to find out India's rank. In Soundness of Bank our rank is 51 out of 134. In order to find about India or any other country go here . On the left panel of the World Economic Forum's Global Competitiveness Report 2008-09 enter the country's name in the field 'Country Profiles' and learn about your country.

Note: The picture used here belongs to Marcelo Moura. For more such pictures please visit here.

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2 comments:

abhijit said...

Ah! a newspaper (the pink one) has at least 24 pages. Now if a quarter column has been devoted to Canadian banking system as against reams about Indian banking system and the statement of who is who on the same, why not accept the info on face value. incidentally, the parameters of ranking a banking system need not reflect the soundness as has been proved in the last few days when the names have been falling like nine pins. Even the capitalist economies, one of whose agencies taes the banking systems, had to turn around and do the resue act. In any case last 12 days have seen us through so much of economy and banking in every mode of media, that even my dear wife, normally not interested in such mundane matters, had quite a few things to ask about. So the entire process is making all of us more aware and probably also driving us mad. Bear with it.

Amitabh Mukherjee said...

Thanks for the comment.

I am not sure when exactly the World Economic Forum start or complete the study of exactly how much of the present situation is reflected in this study.
I any case here (http://www.bloomberg.com/apps/news?pid=20601082&sid=adcx_UiYvuK4&refer=canada) is a link about the canadian banks (very recent - 10th October) that would show that even they are not immune.

Actually no one is. But the soundness of the banking system will be tested if the Canadian Banks can tide this over.

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