Warrier's blog

May the festival of lights, bring a world of lasting joy, happiness and contentment to you for the whole year through HAPPY DEEPAwALI M G WARRIER & SUDHA WARRIER

I am an Indian citizen: Raghuram Rajan - The Hindu Online comments posted on October 30, 2013: This issue was first raised in 'public' by a politician and the 'gossip' was enjoyed by some idle mailers. Hopefully, this clarification coming from Rajan will end the speculation. We are forgetting that such uninformed allegations will affect the prestige of Indians as a community. World citizens like Dr Rajan may take it in their stride and take time to explain the real position. But this kind of negative thinking has an impact on the Indians whom we call ‘NRIs’ who are holding high positions abroad to the mason or tailor from Kerala or Bihar who has just landed in UAE for employment. from:   M G WARRIER Posted on: Oct 30, 2013 at 21:35 IST  

‘I am an Indian citizen’ | Business Line Online comments posted on October 30, 2013: This issue was first raised in ‘public’ by a politician and the ‘gossip’ was enjoyed by some idle mailers. Hopefully, this clarification coming from Rajan will end the speculation. We are forgetting that such uninformed allegations will affect the prestige of Indians as a community.   World citizens like Dr Rajan may take it in their stride and take time to explain the real position. But this has an impact on the Indians whom we call ‘NRIs’ who are holding high positions abroad to the mason or tailor from Kerala or Bihar who has just landed in UAE for employment.    

The Case for India by Raghuram Rajan - Project Syndicate

The Paranoid Style in Economics by Raghuram Rajan - Project Syndicate

FinMin relaxes norms for top jobs in govt banks | Business Standard The following comments were included in a response to the above report: At the time of selection of the present SBI chairperson, Finance Ministry had faced the same problem of having only one eligible candidate to ‘select’ from. The formality of   selection procedure was complied with by relaxing the qualifying norms (relating to age and remaining period of service) and considering more candidates. Ultimately the candidate satisfying the norms without any relaxation was selected temporarily dodging a controversy. Now that the next vacancy is arising only in August 2014, authorities could have reviewed the eligibility norms for broad-basing the pool for selection keeping in view the need to ensure longer tenure for incumbants and infusing efficiency at the top. There is another dimension to the story. The Indian industry, trade unions and the intelligentsia gives an impression that they are comfortable w

Rates obsession | Business Line Rates obsession With reference to“The RBI’s inflation obsession”, ( Business Line , October 26), there are some things the new governor must keep in mind when he makes the October 29 announcement. One-third of all NPAs of PSBs were contributed bythe top 30 NPA accounts in each bank. Deregulation of savings bank interest rates did not add to the interest income of real SB account holders. The net interest margins enjoyed by banks in India are among the highest in the world. The theory that interest cost is not the major ingredient in project cost is interpreted to mean that small borrowers can afford to pay higher rates of interest. Big depositors get preferential rates of interest and big borrowers get attractive terms for borrowing. M. G. Warrier Mumbai

A development index with missing links - The Hindu There is a clear case for further improvement of parameters for deciding eligibility. But, unfortunately, Government rejects reports not written 'on dotted lines'. M G Warrier T

business today, november 10, 2013 letters to the editor FLAWED REPORT? Your article Why Raghuram Rajan Ranked Gujarat Low (October 27) can be contested. When it comes to sharing of resources, whether among nations or members of a BPL family in India, it is not always the most reasonable voice that is acceptable to all. Let us not expect a different approach from the states, when it comes to the sharing of resources from the Central pool. It is high time to discontinue the "special category" classification, be it for states or people, and move forward to equity in distribution, based on needs at the ground level. We should make efforts to share resources fairly to help states and individuals climb up the ladder of economic develop- ment. Rajan's recommendations should be seen in this perspective. - M.G. Warrier, Mumbai

The RBI’s inflation obsession | Business Line Online comments posted on October 26, 2013: The author has captured the deficiencies in RBI’s monetary policy stance which has been obsessed with a lingering worry about taming inflation. When RBI’s rates annnouncements or guidance on the direction of interest rates do not influence prices or deposit rates which are the major concerns of common man, why not RBI listen more carefully what the political bosses and industrial houses say and act accordingly? The new Governor Dr Raghuram Rajan is infusing fresh thought into Monetary Policy. Let us hope,   his announcement on October 29 will factor in   the concerns expressed here and among others, the following: i)                     To the FM’s embarassment, last week’s review revealed that one-third of all NPAs of PSBs were contributed by top 30 NPA accounts in each bank. ii)                    While much ado is there about base rates, deregulation of savings bank interest r