https://ir.iimcal.ac.in:8443/jspui/handle/123456789/5672 2026-04-13T20:47:40Z https://ir.iimcal.ac.in:8443/jspui/handle/123456789/5794 Title: Restructured Loans, Non-performing Assets and Indian Banking Authors: Ray, Partha Abstract: How bad is the current situation in build-up of non-performing loans in Indian banking? At the current juncture, this issue is increasing haunting Indian policy makers, bankers, corporates as well as informed public. A recent Issue of the Economist declared, “Indian public-sector banks are sitting on something unpleasant”. 1 Interestingly, the recently published Annual Report of the Reserve Bank of India (RBI) also noted, “The deterioration in asset quality of the banks emerged as a concern within and outside the Reserve Bank during 2011-12”. Are such sentiments erring on the right side of over-cautiousness? Or, is “something rotten in the state of Denmark”? Description: Biosketch: Partha Ray, Ph.D., is Professor, Economics, Indian Institute of Management Calcutta (IIM-C). Prior to joining IIM-C, Prof. Ray, a career central banker, was the adviser to Executive Director, International Monetary Fund, Washington D.C. during 2007-2011 2012-09-01T00:00:00Z https://ir.iimcal.ac.in:8443/jspui/handle/123456789/5793 Title: Withholding Tax and impact on Debt Market Authors: Nath, Golaka C. Abstract: Withholding Tax is a requirement on the payer of an item of income to withhold or deduct a certain amount or percentage of the income from the payment, and remit the same to the government. It can apply to employment income, payments of interest or dividends, royalties, rent or even the sale of real estate, etc. Typically, it is used on foreign residents who receive income in a different Tax jurisdiction. It is treated as a payment against future Tax liability in a Tax jurisdiction. In India, withholding tax is levied on non-resident entities receiving income in India in various forms like interest, royalties, branch remittances, etc. Withholding taxes are often justified on revenue grounds, as a way to protect a country’s revenue base and to capture revenue from other countries. Description: Biosketch: Dr. Golaka C Nath is a Senior Vice President at the Clearing Corporation of India Ltd. (CCIL). He has over 21 years of experience in the banking and financial sector, having previously worked with the National Stock Exchange of India Ltd. and Vijaya Bank. In the past, he has worked on a World Bank Project on “Developing Bond Market in South Asia”. He has also provided secretarial service to the High Powered Committee on “Corporate Bonds and Securitization” appointed by the Ministry of Finance, Government of India. 2012-09-01T00:00:00Z https://ir.iimcal.ac.in:8443/jspui/handle/123456789/5792 Title: Social Media and Stock Returns Authors: Banerjee, Ashok Abstract: In my earlier article on news (a₹tha, August 2012), we had mentioned that examining the impact of social media news on asset returns could be an interesting subject. There are over one billion users of social media worldwide and the number is growing every hour. Most of the users access social media network through mobile. Facebook is clearly the leader in social network followed by Tweeter and LinkedIn. With the increased accessibility to mobile broadband, there is significant potential for growth in the use of social media network. Description: Biosketch: Ashok Banerjee, Ph.D., is Professor, Finance and Control, Indian Institute of Management Calcutta (IIM-C). He is also the faculty in-charge of the Financial Research and Trading Lab at IIM-C. His primary research interests are in areas of Financial Time Series, News Analytics and Mergers & Acquisitions. 2012-09-01T00:00:00Z https://ir.iimcal.ac.in:8443/jspui/handle/123456789/5791 Title: Editorial Authors: Banerjee, Ashok; Ray, Partha; Nath, Golaka C. Abstract: India is going through a phase of political and economic uncertainties. While we cannot bet on the direction Indian politics will take, we are quite sure that unless some bold and urgent steps are taken to bring the economy back to its track, we are heading for serious trouble. Financial markets are backbone of any economic reform process and this sector is suffering from policy paralyses. We hope that the government will take some policy decisions in the next one year to bring back the “animal spirit” in the financial markets. Description: Biosketch: Ashok Banerjee, Ph.D., is Professor, Finance and Control, Indian Institute of Management Calcutta (IIM-C). He is also the faculty in-charge of the Financial Research and Trading Lab at IIM-C. His primary research interests are in areas of Financial Time Series, News Analytics and Mergers & Acquisitions. | Partha Ray, Ph.D., is Professor, Economics, Indian Institute of Management Calcutta (IIM-C). Prior to joining IIM-C, Prof. Ray, a career central banker, was the adviser to Executive Director, International Monetary Fund, Washington D.C. during 2007-2011. | Dr. Golaka C Nath is a Senior Vice President at the Clearing Corporation of India Ltd. (CCIL). He has over 21 years of experience in the banking and financial sector, having previously worked with the National Stock Exchange of India Ltd. and Vijaya Bank. In the past, he has worked on a World Bank Project on “Developing Bond Market in South Asia”. He has also provided secretarial service to the High Powered Committee on “Corporate Bonds and Securitization” appointed by the Ministry of Finance, Government of India. 2012-09-01T00:00:00Z