This paper relies on administrative data to study determinants and implications of US banks’ Information Technology (IT) investments, which have increased six-fold over two decades. Large and small banks had similar IT expenses a decade ago. Since then, large banks sharply increased their spending, especially those which were more exposed to competition from fintech lenders. Other local-level and bank-level factors, such as county income and bank income sources, also contribute to explain the heterogeneity in IT investments. Analysis of the mortgage market reveals that fintechs’ lending behavior is more similar to that of non-bank financial intermediaries rather than IT-savvy banks, suggesting that factors other than technology are responsible for the differences between banks and other lenders. However, both IT-savvy banks and fintech lend to lower income borrowers, pointing towards benefits for financial inclusion from higher IT adoption. Banks’ IT investments are also shown to matter for the responsiveness of bank lending to monetary policy.
The novel alludes to the role on her personal life played by the unprecedented bloodshed in the entire human history during the exodus of people from the newly created Pakistan to India, which was the result of the tragic partition of the country that accompanied independence from the British rule in August 1947. India's non-violent freedom-struggle led by Mahatma Gandhi brought to the forefront many great national leaders. Among them, Sardar Patel, hailing from the state of Gujarat and free India's first Home Minister, was aptly called the 'Iron-Man of India' - he is credited for a courageous and tactful unification of 565 princely states into the new Indian Republic. Narendra Modi, the present-day Chief Minister of Gujarat, is depicted in this novel as kind of a reincarnation of Patel, as he conducts a campaign as one of the prime ministerial candidate for the national election to be held in 2014. Modi lays bare the British-style divide-and-rule policy, vote-bank policy, and many other scandals of corruption under the presently ruling Congress Party. This novel tells the story of Kamala enmeshed with the story of the nation at large in a fast-moving tempo and is likely to become a unique literary creation of its kind. the writer has authored twenty books, and this novel is an extension of his earlier fiction called the Next Life, published in United States about a year ago. Naturally, many political episodes and undercurrents touching upon a number of other countries - United States, Italy, Pakistan, Afghanistan, China, Russia - come to light. Thus, this novel is not only the recount of the struggle of an individual to win over odds of life and of her transformation, it is also a succinct record of the true happenings in India of yore as well as of India of today, intertwined in an absorbing tale of fiction and reality. Readers in India as well as elsewhere will find this story intriguing, moving, entertaining, and even inspiring.
The novel alludes to the role on her personal life played by the unprecedented bloodshed in the entire human history during the exodus of people from the newly created Pakistan to India, which was the result of the tragic partition of the country that accompanied independence from the British rule in August 1947. India's non-violent freedom-struggle led by Mahatma Gandhi brought to the forefront many great national leaders. Among them, Sardar Patel, hailing from the state of Gujarat and free India's first Home Minister, was aptly called the 'Iron-Man of India' - he is credited for a courageous and tactful unification of 565 princely states into the new Indian Republic. Narendra Modi, the present-day Chief Minister of Gujarat, is depicted in this novel as kind of a reincarnation of Patel, as he conducts a campaign as one of the prime ministerial candidate for the national election to be held in 2014. Modi lays bare the British-style divide-and-rule policy, vote-bank policy, and many other scandals of corruption under the presently ruling Congress Party. This novel tells the story of Kamala enmeshed with the story of the nation at large in a fast-moving tempo and is likely to become a unique literary creation of its kind. the writer has authored twenty books, and this novel is an extension of his earlier fiction called the Next Life, published in United States about a year ago. Naturally, many political episodes and undercurrents touching upon a number of other countries - United States, Italy, Pakistan, Afghanistan, China, Russia - come to light. Thus, this novel is not only the recount of the struggle of an individual to win over odds of life and of her transformation, it is also a succinct record of the true happenings in India of yore as well as of India of today, intertwined in an absorbing tale of fiction and reality. Readers in India as well as elsewhere will find this story intriguing, moving, entertaining, and even inspiring.
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