It is commonplace to have a dispute with a service provider and cancel a service, bit if the service provider happens to a financial institution, there’s always a possibility of silent damage – at least in India. That’s because one can never be sure of how that reflects in the credit bureau records. In fact, India has Credit Information Bureau (India) Limited (CIBIL) established just few years back by a group of Banks and Dun & Bradstreet. Originally posted here

The Mckinsey report had said that the wealth in the emerging markets have grown 3 times more than the rates of assets in developed nations. Now here's a report that is specific about India. Indian wealth management has given a return of 18% against the global 9.7%.

The wealth management arm of the KARVY Group released the 2nd edition of its India Wealth Report today.

This Report studies patterns of individual investments across financial asset classes (excluding physical assets like gold and real estate) and finds that India's individual wealth is expected to nearly triple from the existing 86.5 lac crore to 249 lac crore by FY16. In fact, the wealth of India's HNIs has grown by over 18% compared to a mere 9.7% for global HNIs in the last one year.

Interestingly, the Report shows that fixed deposits & bonds has become the top contributor to overall wealth held by individuals in India, displacing last year's topper, direct equity, primarily due to the uncertainty in the financial markets.

Dr. D. Subbarao, Governor, RBI reflects on the economic crisis and the crisis in Economics in his speech at IISc, Bangalore. 

A few months into the crisis, the Queen happened to be at the London School of Economics and asked a perfectly sensible question: ‘how come none of the economists saw the crisis coming’. The Queen’s question resonated with people around the world who felt that they had been let down by economics and economists. As economists saw their profession discredited and their reputations dented, the economic crisis soon turned into a crisis in economics

The Governor, RBI has a delightful comparison between Economics and Physics. (Speech Link, You should read the entire speech)