The increase in foreign ownership of banks in emerging markets is one facet of the ongoing consolidation of banking systems in both mature and emerging markets. The franchise value of banking license reflects the discounted value of the net profits. That bank would be expected to earn over time. For instance, telephone and electronic banking, have been widely used by foreign banks to gain market penetration in European markets and more recently in emerging markets, especially in Asia.
I think, it was Tan's post on this blog itself, Republic Day Event, where this question was raised. My answer. YES. we need communal parties even in Independent, Secular India. Now let me take you, back to events before 1947. When India was a colony of the British Empire. The congress party, in its attempt to gain momentum for the independence movement, heavily used Hinduism, an example of which is the famous Ganesh Utsav held in Mumbai every year. Who complains? No one. But at that time, due to various policies of the congress, Muslims started feeling alienated. Jinnah, in these times, got stubborn over the need of Pakistan and he did find a lot of supporters. Congress, up till late 1940's never got bothered by it. And why should we? Who complains? No one. But there were repercussions. The way people were butchered and slaughtered during that brief time when India got partitioned, was even worse than a civil war scenario. All in the name of religion. And there indeed was cr...
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