The history of modern Indian banking in the 19th century is full of examples of lopsided loan portfolios, favouring a few individuals and businesses, which is not very different from today’s world of financial fraud and manipulation of the system for personal gain. The past still holds many lessons

Over 50 years ago, the Indian rupee was a currency of overseas trade besides being the local currency for the Gulf nations and many regions of the Indian Ocean. It fell into a retreat for many reasons. With the Indian economy slated to strengthen 2019 onwards, this is the right time to speed up the rupee’s full capital account convertibility