Economy
Prodding people to improve productivity
FINANCIAL engineering and restructuring have been regarded by many as showy shuffles and superficial manoeuvres that fail to improve the core of corporate business affairs. Such a view is perhaps based on reports of further distress at some companies aft er financial restructuring is effected.

Editorial
Universal prescription
The impending merger of ICICI with its own banking affiliate ICICI Bank, is certain to set off a wave of consolidation within the financial services industry. Close on the heels of the announcement by the ICICI and ICICI Bank, IDBI has already announced that its Board is contemplating merger with a banking institution with complementary strengths. The process is bound to gather momentum with pure banking institutions merging with one another or institutions in the long term assets markets such as housin g finance converting themselves into banks with similar proposals of merger.

Politics


Kashmir: Why is Delhi becoming shrill?
OBVIOUSLY inspired by the Americans flexing their muscles in Afghanistan, both the Home Minister, Mr L. K. Advani, and surprisingly, the Prime Minister, Mr Atal Bihari Vajpayee, are speaking the language of war vis-a-vis Kashmir. A pity, coming as it doe s after Mr Vajpayee held out some hope for the Kashmiris in terms of initiatives such as a ceasefire and the Agra Summit in the last year.

Poll violence
The recently held elections to local bodies in Tamil Nadu have brought out a number of ugly features. Political parties, adept at throwing dust into the eyes of the people, while flying at the throats of each other, are playing up or down, as suits their selfish interests, the incidents of booth-capturing, rigging, intimidation of voters and poll personnel, and violence.

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