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A monthly bulletin from M G Warrier incorporating select published letters/links to articles (and some stray thoughts based on what he read/saw and wrote during the month). Mailed during the third week of every month. Please send your responses and views to mgwarrier@rediffmail.com

Vol III, No 5, May 2013

M G Warrier, MLR-116-B, Mangalam Lane, SASTAMANGALAM-695010 (9349319479)

Dear reader
 My Page is also being posted on Warrier’s Blog at http://mgwarrier.blogspot.in/ Links to articles and important comments are posted at the blog as and when they are published. Those esteemed readers who have difficulty in accessing blog can contact mgwarrier@rediffmail.com

M G Warrier
May 28, 2013


The following articles were published during March-May, 2013 (Till May 15, 2013)

1.      Cobrapost exposure: What next? : May 2013, Moneylife.in
2.      What is RBI Reading? ‘End of Poverty’: Jeffrey D Sachs, RBI Newsletter, April 30, 2013.
3.      BRICS Development Bank: Prospects and Challenges, Global ANALYST, May 2013.
4.      Do we need a regulator for unclaimed deposits? May 4, 2013 Moneylife.in
5.      FSLRC Recommendations on RBI: Stop, Look and Proceed! April 10, 2013 Moneylife.in
6.      A wake up call from Cyprus for ‘Debt-ridden’ states like Kerala, March 28, 2013 Moneylife.in
7.      Wage Revision in Banking Sector, March 2013, Business Manager, HR Magazine
8.      Succession plans in India need a makeover, March 14, 2013, Moneylife.in


Business Standard
Business Standard May 27, 2013 Last Updated at 21:07 IST

Letters: Pay scale disparities

This refers to the report "Delhi HC rules out pay parity between regular & contractual workers" (May 26). We cannot expect a humane approach from courts whose core function is ensuring the rule of law, and thus blame a bench of judges for interpreting law and observing hence: "There cannot be complete parity between contractual employees and those who undergo selection process and are appointed as regular employees. On the principle of 'same work same pay', if there is complete identity of work between contractual employees and regular employees, a court can direct same basic salary and allowances to be paid. But with reference to one set of persons not having undertaken the selection process and the second set having undertaken the selection process, the court could deny the benefit of increments." However, those responsible for policy formulation should take note of the disparity in prices, wages and incomes, which are relevant for a class that is rich and powerful and, therefore, has hold over decisions and options. And an entirely different set of parameters for arriving at the prices, wages and incomes applicable to another class that comprises the majority and has no control over its destiny. The delay in correcting this is already resulting in eruptive symptoms. In her Pulitzer Prize-winning book Behind the Beautiful Forevers (Penguin Books), Katherine Boo makes this observation: "In places where government priorities and market imperatives create a world so capricious that to help a neighbour is to risk your ability to feed your family, and sometimes even your own liberty, the idea of the mutually supportive poor community is demolished. The poor blame one another for the choices of governments and markets, and we who have means are ready to blame the poor just as harshly." Hairsplitting arguments or lament over "legal position" cannot be a substitute for a humane approach to poverty, hunger and deprivation.
M G Warrier, Thiruvananthapuram

Online comments:
CAG Vinod Rai retires:

May 22, 2013 at 11:04 PM IST
Sandwiched between a hostile community of beneficiaries of largesse from government via different routes and a government benevolent in showering praises on CAG only when it has to defend itself from opposition attack, Vinod Rai had to assert his stance defending public interest in public on an ongoing basis, which is a tough task for any civil servant in India. If the institution of CAG and the individual have been able to carry on unperturbed, proactive support from media and organisations like Moneylife Foundation did help the process.
The efforts taken by Vinod Rai and his predecessors to sharpen the available tools by infusing expertise into the organisation and by training and educating cadres down below have brought professionalism in the performance of audit function and improved the confidence level of staff. If similar initiatives had come from his counterparts heading several government departments and public sector or statutory organizations, the agony the UPA II government is now subject to would have been much less.

RBI Audit:
M G WARRIER (Thiruvananthapuram)
9 Hours ago
Following certain tradition, our Constitution and some legislations provide for prior consultation, in certain matters before GOI decide, with some statutory bodies like CAG and RBI. In the instant case, suggesting two names and awaiting RBI confirmation is as good as consultation, as this gives opportunity to RBI to express views if they have different views. The second issue, namely the one relating to transfer of surplus income/profit by RBI and PSUs tagged to this, is an entirely different one. A greedy FM is trying to coerce GOI-owned bodies to manipulate their accounts or bring down reserves to plug holes in governmentâ??s own balance sheet. The present method of ‘budgeting’ huge receipts from PSUs and statutory bodies in advance and forcing the organisations to pay is an unethical practice.

The finance ministry and FSLRC, it is by now clear that, in a hurry to resolve minor issues, ignored the evolution of the role of RBI and the care with which RBI has nurtured the financial sector. Various observations since made by present RBI Governor and the dissenting notes appended to the FSLRC Report itself are adequate proof (if proof was necessary!) to show that the report written by the Chairman of the FSLRC to satisfy some mysterious interests did not care to understand the Indian situation or the strength of RBI while doing the ‘cut and paste’ from the abundance of material placed before him. FSLRC depended on the experience of small countries whose history and geography are different or listened to experts from developed countries where central banking needs are totally different from those in India. Suffice to say that time is not right for dismantling or truncating the RBI which is doing creditably well as is being admitted in several international forums.

My Page Choice of the month:

New Indian Express, May 2, 2013

A septuagenarian’s look at existence

02nd May 2013 07:59 AM
Exit from this world is certain for all, but while in your teens, the probability of having to call it quits and depart any time any day does not nag you significantly. However, once you cross the Biblical span of three score and ten, you suddenly feel you have to pack. Till fifty or even sixty, one dreams, hopes, plans and acts but into seventy, one undergoes a metamorphosis; one feels a reasonable certainty about the hour for the swansong that hitherto loomed only in the shadows. One gets a hunch one can almost count the hours — nay, minutes — left for the sands to run out.
Stoicism sets in.  Boredom takes over.  Neither hopes nor fears goad the mind that has passed through the best of times and the worst of times.  After all, what momentous event can be expected or feared in the next five years, three years, two years! Indifference reigns supreme in all your thoughts, words and deeds. In your younger days, you used to spend sleepless nights worrying why one of your casual acquaintances who always greeted you with a respectful smile was indifferent on a particular day. But now you have learnt to nonchalantly jettison all such non-events; in fact, in the other extreme, you even become apathetic  to the extent of ignoring men and matters, confident that such alienation would  “pass by you like an idle wind which you respect not’’.
Your “withdrawal symptoms’’ show in the way you start shunning social functions. Days when, on occasions like marriages, deaths and so on that see friends and relatives flocking together, you used to pick up the old threads with gusto and enjoy re-living the good old times, spiced with vociferous banter and back-slapping, are gone for ever, never to come back.
When the ebullient youngsters indulge in their pet pranks, fun and frolic in your presence, you inwardly sing with the bard, “Lord, what fools these mortals be!’’  In audible silence, you tell them: “Don’t be oversmart, kids. I have also passed through these stages and I know all this is just sound and fury signifying nothing.’’ May be because you are in your second childhood, you might develop an increased affinity and affection towards children.
You find yourself capable of vibing well with them, relating to them. Appetite wanes. Gluttons who, in the past, lived to eat, not ate to live, push away their plates untasted. The change is biological as well as psychological — mostly the latter. The horse that galloped unstoppable with virile sinews and an indefatigable spirit has gradually started gasping.
Limbs, as well as the mind, fall into the lap of lassitude. And, as Shakespeare put it, we remain “sans teeth, sans eyes, sans taste, sans everything’’. A rare few are granted the luxury of colourful dreams during the mid-day nap. “Recollections in tranquility’’ afford me adequate compensation. And for this reason, I am a contented septuagenarian.

* C Divakaran is an ex-rbite based in Thiruvananthapuram

Comments (6)

One of the best articles from the author. The concluding remarks, “Recollections in tranquility’’ afford me adequate compensation. And for this reason, I am a contented septuagenarian, is very apt and true. Narayanan
Silliest article. Drawing generalization on negative aspects of ageing, psychologically speaking, and offering them on a platter as a must have situation for all septuagenarians is wrong. See Fauza Singh, Khuswant Singh and many others. Both are above a hundred years of age. One is running a marathon and the other is still writing novels and is always at his funniest best. I know many octogenarians who are as positive and active as they were in their fifties.
Time to move away from dampening Shakespearean thoughts and proceed on to grasp, follow the thoughts of Swami Ramakrishna Paramhansaji, Adi Shankara, Swami Vivekananda, Ramana Maharishiji or any other great man of one's preference; one's batteries could be recharged anyday any time. Just a matter of situational perceptions apart from undergoing a Master Health Checkup in a corporate hospital and taking further treatments as advised by the senior physician there; Many hobbies, choices exist depending upon one's inclinations. Think of lesser privileged mortals. There are people in their eighties and nineties still enjoying their lives. This is the bonus period of the author's life; and he can enjoy, live this remainder bonus spell life the way he wants to live, after weighing afresh various options available to him. One hopes he keeps on writing and reminiscing on various varied happenings, incidents etc. Here is wishing him best of health, times for a decade or two more...
Yes it is packing time for me as I am going to touch eighties in another year. But that makes me only over active to give finishing touches to things to be completed, especially in the fields of reading, thinking, writing and sharing. Was waiting anxiously for my visa to heaven from my sixties did an awful lot in all fields during this waiting time and I feel happy to continue doing the same to share what God has helped me to experience. Happy to go any time the call comes and happy to be up and doing my best till then.
That is the true spirit of a true man of art.
The article has served its purpose, if the purpose was to provoke thoughts. One need not worry too much about the one final thing that is death, as no one has left this planet alive so far. World outside is not as bad as the media pictures for you. There will be many kids waiting for your smile, even after you are toothless! There are many who would like to hold on to your hand even when your limbs are weak. Enjoy life.


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