Warrier's blog

Time to revamp human resource policies at government, PSUs - Moneylife Please read this article and give your views. Also do share with friends. M G Warrier

Cartoonscape — July 31, 2015 - The Hindu My VIEW: I am not sure whether this cartoon conveys effectively, why people (including me) oppose death penalty.  Personally, while I respect the law of the land, I believe, those opposing death penalty on principle have a right to express their views and canvass opinion in favour of their position. M G Warrier

Moody's flays revised draft on IFC | Business Standard News

What was cooking in Harappa? - Thiruvananthapuram - The Hindu

Beyond Shmasaanavairagyam Yadaa sattwam pravrddhe tu pralayam yaati dehabhoot Tadottamavidam lokaanamalaanpratipadyate (Gita 14.14) When a man dies during the preponderance of Sattwa, he obtains the stainless ethereal worlds (heaven etc.,) attained by men of noble deeds. Shmasanavairagyam is the temporary attitude of mind one expresses while leaving the cremation/burial ground after performing the last rites of a beloved one. It is said, one gets over it fast and gets involve in ‘business as usual’. Thought about this while surfing mails, reading newspapers and watching TV since the night of July 27, 2015, when Kalam’s passing away was reported. I am keying in this note on the morning of July 30, 2015. The short piece recorded by Srijan Pal Singh (on July 27/28) who was with Kalam on July 27 gives deep insight into the human being that Kalam is. Mr Singh says: “The topic of lecture, Kalam selected for his course at IIM Shillong was ‘Creating a Livable Planet Earth’. He related the i

Over 82% respondents say banks should not sell third-party products - Moneylife My VIEW: As mentioned in the article, the sample may not be representative of the banking public. But, if this is the position in metro and urban areas, the extent of exploitation in semi-urban/rural areas can be guessed. While technology has made financial transactions fast and simple, every individual has to be cautious while handling hard earned money. The sales talk in respect of financial products should not be believed without 'verification'. Unlike cosmetic products or use and throw items we purchase, based on their appearance or advertisements, one has to be verycarefule while making investment decisions. Moneylife is doing a great job by creating awareness and bringing inadequacies in product descriptions and wrong methods used in marketing to the notice of regulators. It is comforting to see that organisations like RBI is listening to the customers or their representatives and taking cor

RBI transfers almost entire surplus to govt | Business Standard News Yes, this report is one year old. POSTING BEFORE AUGUST 2015, FEARING, I MAY HAVE TO QUOTE FROM THIS SHORTLY. M G Warrier

Benchmarks for banks - The Hindu Benchmark for PSBs This refers to the article by Charan Singh “Benchmark for banks(The Hindu, July 29). From international rating agencies to NGOs or academics who make assessments as part of their studies, normally use the same measure for gold and charcoal while making comparisons and their findings mislead policy makers at the top to common man at the ground level. This article stands out in making a plea not to use the same parameters for comparisons and have norms depending on the context and character. In the Indian financial sector, which is growing fast and new types of organisations, big and small, are coming up to cater to divergent needs, standardised norms for all types of financial institutions is near impossible. In the banking sector, public sector-private sector divide is a fallacy as both are dependent on the same resources, namely public funds. Time is opportune for RBI to formalise its regular studies of impact of gover

Letters: More than distrust | Business Standard Letters Mutual distrust This refers to the BS editorial “Mutual distrust” (July 27) which gives an excellent analysis of the current controversy arising from the draft Indian Financial Code circulated by GOI. Having said that, one is tempted to add that reducing the present controversy over the constitution of MPC to a case of mutual mistrust would be over-simplifying the matter. Government's eagerness to do backseat driving in various organisations which have mandated roles to perform need to be understood clearly. If there is lack of clarity in the role expectations, GOI is welcome to make legislative changes. But it is a different story, if the government moves on to keep control over the 'application of mind' by statutory bodies like RBI through ensuring majority presence of their nominees in policy formulating fora. Experience shows that, so far, government nominees on boards generally take brief from minist

A.P.J. Abdul Kalam: India's missile man, an indomitable spirit - Moneylife My VIEW: This article concludes thus: "Not many known that he was a poet too. His favourite poem was "The Vision", which he also recited in parliament.   "I climbed and climbed/Where is the peak, my Lord? I ploughed and ploughed/Where is the knowledge treasure, my Lord? I sailed and sailed/Where is the island of peace, my Lord? Almighty, bless my nation/With vision and sweat resulting into happiness".   On July 22, Kalam tweeted: "An indomitable spirit stands on two feet.. vision and firm thought". It could serve as an apt description for him." ......Do go to the link and read full article. M G Warrier

Writing ‘re-maketh’ an exact woman - The Hindu My VIEW: I entierly agree with the writer's following conclusion: "I have concluded by observing my friend’s path that reading and writing have significant therapeutic value for the mind. They help in graceful and productive aging too." There is something personal about it which I would like to share. I 'voluntarily' retired in 2003. The previous three decades I was 'ghost writing' for my bosses or the organisation. Last twelve years I am present in the media with more than 1000 LTTE(Letters To The Editor) scores of published articles in newspapers/magazines and a book published in 2014. But for this pastime, I would have grown much older by now. I am only 71. M G Warrier, Mumbai

A.P.J. Abdul Kalam (1931-2015): An in-depth look into his achievements - The Hindu END OF AN ERA... WINGS OF FIRE WILL TAKE INDIA FORWARD... M G Warrier

APJ Abdul Kalam: A youth icon who connected with all | Business Standard News My VIEW: Avul Pakir Jainulabdeen Abdul Kalam who gave WINGS OF FIRE to India’s dreams left us on July 27, 2015. Before leaving for Shillong for a class at IIM, where the end came, he left the following message @twitter: “Going to Shillong…to take course on Livable Planet earth at IIM.” A REAL KARMA YOGI, IN EVERY SENSE... Let us join the world in prayers… M G Warrier 

Letters: A ruinous path | Business Standard Letters My VIEW: I entirely agree with the views, but do not subscribe to the suggestion that the relationship issues arising from various external factors and the hurry of some politicians to help out non-performing corporates can be resolved by a 'token protest' by an individual, even if the individual is Dr Raghuram Rajan. RBI and sane opinion-makers need to take positions which they consider right. GOI cannot refuse to listen. M G Warrier

  Mutual distrust | Business Standard Editorials My VIEW: Mutual distrust This refers to the BS editorial “Mutual distrust” (July 27) which gives an excellent analysis of the current controversy arising from the draft Indian Financial Code circulated by GOI. Having said that, one is tempted to add that reducing the present controversy over the constitution of MPC to a case of mutual mistrust would be over-simplifying the matter. Government's eagerness to do back-seat driving in various organisations which have mandated roles to perform need to be understood clearly. If there is lack of clarity in the role expectations, GOI is welcome to make legislative changes. But it is a different story, if the government moves on to keep control over the 'application of mind' by statutory bodies like RBI through ensuring majority presence of their nominees in policy formulating fora. Experience shows that, so far, government nominees on boards generally take brief from ministries con

NITI Aayog likely to draw the line on poverty | Business Standard News My VIEW:  This is a welcome move. Let us hope the poverty line drawn by NITI Aayog will get more respectability and acceptance from governments(both central and states) and policy makers. A related issue is fixing of minimum wages. A report in a mainstream newspaper (July 8, 2015) says: “To ensure uniform minimum wages across the country, the Centre has hiked the national floor level from Rs137/day to Rs160/day with effect from July 1, 2015.” Last such revision was two years back when the revision was from Rs115/day to Rs137/day. Even at Rs 160 the proposed minimum wages may not bring a family of 4 above poverty line drawn by Rangarajan panel.  As more and more jobs are going out of the organized sector and employment of all unskilled labour and skilled labour in many sectors are being sourced through ‘service providers’ the bench-mark minimum wage becomes more relevant in present day India. I am not

Cartoonscape — July 27, 2015 - The Hindu Thanks, Keshav and The Hindu M G Warrier

Proposed new India Financial Code, likely to whittle RBI’s role in monetary policy - Moneylife My VIEW: Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report, which contained half-baked and ‘cut & paste’ recommendations, is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor who is expected to evolve and implement monetary policy will not be 'disarmed'. Whether one calls it VETO or the right of the leader guiding his team, Governor, RBI should have the final say on how RBI conducts monetary policy. That the whole move is in bad taste is confirmed by the proposal to re-designate Governor as Chairperson. The silver-lining is that as of now we have Dr Raghuram Rajan as Governor whose eminence will not be reduced by change of designation. RBI will withstand the pressures under his leadership. In their hurry to show ‘results’, it seems the NDA government is rebottling UPA II’s wrong

The missing conservative intellectuals - The Hindu

FSLRC recommendations on RBI: Stop, look and proceed! - Moneylife My VIEW on stripping central bank: This article was posted @moneylife.in on April 10, 2013. Being posted here now in the context of measures underway to truncate RBI. M G Warrier

Give the RBI its independence - The Hindu My VIEW: Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report, which contained half-baked and ‘cut & paste’ recommendations, is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor who is expected to evolve and implement monetary policy will not be 'disarmed'. Whether one calls it VETO or the right of the leader guiding his team, Governor, RBI should have the final say on how RBI conducts monetary policy. That the whole move is in bad taste is confirmed by the proposal to re-designate Governor as Chairperson. The silver-lining is that as of now we have Dr Raghuram Rajan as Governor whose eminence will not be reduced by change of designation. RBI will withstand the pressures under his leadership. In their hurry to show ‘results’, it seems the NDA government is rebottling UPA II’s wrong policies. In financial sector, such thoughtless mea

Govt. proposes to strip RBI chief of veto power on monetary policy - The Hindu My VIEW: Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report, which contained half-baked and ‘cut & paste’ recommendations, is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor who is expected to evolve and implement monetary policy will not be 'disarmed'. Whether one calls it VETO or the right of the leader guiding his team, Governor, RBI should have the final say on how RBI conducts monetary policy. In their hurry to show ‘results’, it seems the NDA government is rebottling UPA II’s wrong policies. In financial sector, such thoughtless measures may breed chaos. M G Warrier, Mumbai

Power without responsibility | Business Line My VIEW: PLEASE READ MY LETTER "DON'T DISARM THE GOVERNOR'" APPEARING IN BUSINESS LINE TODAY(JULY 25, 2015) M G Warrier

Centre moves to take over monetary policy making, prune RBI’s clout | Business Line My VIEW: Don’t disarm the governor This refers to the report “Centre moves to take over monetary policy making, prune RBI’s clout” (July 24). Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor will not be ‘disarmed’. The FSLRC report should be revisited in the present Indian context, as its major recommendations need deeper study. In their hurry to show ‘results’, it seems the NDA government is rebottling UPA II’s wrong policies. M G Warrier Mumbai

The Kuttanad Imbroglio | Business Line Read... Don’t disarm the governor This refers to the report “Centre moves to take over monetary policy making, prune RBI’s clout” (July 24). Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor will not be ‘disarmed’. The FSLRC report should be revisited in the present Indian context, as its major recommendations need deeper study. In their hurry to show ‘results’, it seems the NDA government is rebottling UPA II’s wrong policies. M G Warrier Mumbai

Choose your battles | Business Line My VIEW: Coming soon after RBI had accepted the challenge to chase an inflation target, the move based on an FSLRC report which was written on dotted lines to satisfy the ego of the then FM, is unfortunate. One still hopes, wiser counsel will prevail and the RBI Governor who is expected to evolve and implement monetary policy will not be 'disarmed'. Whether one calls it VETO or the right of the leader guiding his team, Governor, RBI should have the final say on how RBI conducts monetary policy. M G Warrier, Mumbai

Letters: Meaningful opposition | Business Standard Letters

The grammar of politics | Business Standard Chinese

Get priorities right | Business Line My VIEW: July 23, 2015 Political management The HBL editorial “Get Priorities right” and the piece “Mockery of democracy”-FROM THE VIEWSROOM- today(July 23) could easily pass for a discussion paper on political management in the present Indian context. One can only hope the political leadership takes the analyses in right spirit. The report on disruption of Rajya Sabha proceedings is all the more agonising, since by name itself that is the “Upper House” and the conduct of members there should be exemplary so that legislators down the line could learn lessons from them. In the present episode, even the Congress Party cannot deny the fact that Prime Minister Modi and his government have gone more than half way in appealing to the opposition to cooperate and allow deliberations to happen. Post-independence, parliamentary democracy in India started off with practically no opposition in position. Dissenting voices within the Indian Nation

No more disruption | Business Standard Editorials My VIEW: July 22, 2015 Stalling proceedings in legislatures This refers to BS editorial “No more disruption” (July 22). One hopes the political leadership takes this sane suggestion in right spirit. The report on disruption of Rajya Sabha proceedings is all the more agonising, since by name itself that is the “Upper House” and the conduct of members there should be exemplary so that legislators down the line could learn lessons from them. In the present episode, Prime Minister Modi and his government have gone more than half way in appealing to the opposition to cooperate. Post-independence, parliamentary democracy in India started off with practically no opposition in position. Dissenting voices within the Indian National Congress (INC), some individual leaders whom even the INC could not accommodate or were branded socialists or communists performed the role of opposition in parliament and political arena. Later on th

The dilemma of parent and child - The Hindu My VIEW: I need some time to think... May be, I have some views. They are not ripe enough to be shared. Anyone who reads this article @Open Page, The Hindu, July 21, 2015 is welcome to post comments online. M G Warrier Continued... Online comments published on July 22, 2015: "Just as someone long ago said, "No one has left this planet alive", every problem has a solution. Our laws and society's safety mechanisms are inadequate to deal with problems of the kind covered in this article. In such situations, new solutions evolve. Many social security issues and relationship problems have ugly money which individuals stumble upon and are not able to manage as root cause. I am not saying that poorer people have less problems. But, the society around them are more practical and cooperative in approaching such issues. The painful transition the present young generation is going through is agonising for the earlier generation

Constitutional identity of CJI: question of primacy - The Hindu My VIEW: The issues emanating from the excellent analysis here go much beyond the distinction between ‘The Chief Justice of India’ and ‘The Chief Justice of the Supreme Court of India’ which forms the basis of the editorial. The role of the ‘head’ of the organisation in appointments in the hierarchy he heads including himself needs to be studied and clarified, once. This is needed because the government (at various levels, presently misunderstood for the legislative authorities from top to bottom) many a time puts on the mantle of ownership and wishes to have a final say in such matters. Ideally, the head of the hierarchy need to have a significant role in deciding the way in which appointments in any organisation including judiciary are made. Illustratively, the concept should apply to constitutional bodies like CAG and statutory organisations like RBI also. The debate opened now by The Hindu needs to be taken forward

Financial Scene: PF money & stock markets - The Hindu My VIEW: The better option is to allow EPFO and all such public sector organisations to engage skilled fund managers who could take intelligent investment decisions. Government should advise such organisations the share of funds GOI would like to retain in 'catchment area' for investment in G-Secs(Governmnt borrowings). While the appetite of Stock Markets for such funds is understandable, the hesitance of fund managers to invest in stock market needs to be reducd by improving the credibility of equity market. M G Warrier

Ravi Shankar Prasad on Narendra Modi one year at office - The Hindu

Income Gap in Retirement - Moneylife My VIEW: Conditions in USA may be different. There are certain social security systems which take care of hunger and shelter needs of the old there. Back in India, at this stage of transition when existing social security systems including pension in the organised sector are being dismantled, workers including those with fairly attractive income need to plan their savings for post-job life judiciously. Employers need to factor in a decent component in the compensation package of their employees and ensure that savings really happen. M G Warrier

Branding Nano as cheap car was wrong: Tata - Moneylife My VIEW: I look at the whole 'NANO' episode differently. Tata through NANO sent out a message that it was possible to produce a car that can be sold at Rs one lakh at that point of time. It made car manufacturers to answer several questions on costs and pricing, which was necessary at a time when prices were linked to luxury features, rather than usefulness or strength and quality of the vehicle. Tata is not a brand whose value will come down just because they produced 'cheapest' car! M G Warrier

Farms loans: RBI concerned over cases against bank staff in Maharashtra | Business Line My VIEW: The issues involved in the move by state government to ‘punish’ bank staff for not achieving lending targets are much deeper. Amaravati collector’s notices to bank staff invoking penal provisions for not achieving targets came weeks after the report “Bank employees will court trouble for refusing loans to farmers: CM” appeared in the media on June 17, 2015.  As messages travel faster than light these days, the regulatory and supervisory bodies may have to take cognizance of even ‘political’ statements by responsible ministers and government employees and correct position need to be brought to light fast. If bank employees are made to work under direction from local bodies and state governments, the banking system may lose credibility. For ensuring social responsibility, there are consultative committees at various levels in which organisations like NABARD participate and RBI issues gui

BRICS bank to consider new memberships within six months - Moneylife My VIEW: BRICS Development Bank is a natural off-shoot of the adamant and narrow approach of world bodies like IMF towards developing countries. ‘BRICS’ can become the nucleus for a much larger organisation of developing nations to promote cooperation not only in sharing resources including finance but also for establishing a common platform for creating more awareness on social issues. Viewed in this context, the move to broad-base its membership is a welcome move M G Warrier

Make It Even More Helpful - Moneylife Excerpts: Is There Fear of Regulator’s Intervention? This is with regard to “When Banks Cheat Customers” by Sucheta Dalal. Mis-selling is very common with almost all private sector banks and, by any chance, if some customers take up the issue, they silence them by either refunding their investments or consoling them with some excuses, apolo-gies and regrets. The fact of the matter is that the banks intentionally indulge in such mis-selling taking advantage of either customers’ ignorance or patience and incompetence to fight for their right and get redress. Some well-informed customers take up the issue with the banking ombuds-man or the Securities and Exchange Board of India or the Reserve Bank of India and they may or may not be getting a favourable response. However, the fact remains that the regulators have failed to prevent banks from indulging in such activities and cheating customers. The fear of regula-tors’ intervention and taking disci

Mandatory recognition for trade unions likely | Business Standard News My VIEW: July 8, 2015 Build on consensus This refers to the report “Mandatory recognition for trade unions likely” (July 8). Though several newspapers and analysts have been trying to tell Modi government during the recent weeks, the lessons from the first year at the helm, they thought government should keep in view while moving forward, there are no perceptible indications to think that the political leadership is willing to listen. Already hurry has caused a lot of worry and occasional embarrassments for the Modi Sarkaar. The effort to kill dissent by making ‘majority’ trade union powerful is not in good taste. While the ultimate aim should be to have only two or three unions in every establishment, making settlement of disputes and negotiations on wage and HR-related issues, it can remain only a distant goal at this stage when several unions have umbilical link with political parties. Ideally, iss

Socio Economic and Caste Census: Rural realities - The Hindu My Response: July7, 2015 Defining deprivation This refers to your editorial “Rural realities” (July 7). It is true that level of deprivation need to be defined with reference to geographical areas and income strata. From the All India Rural Credit Survey under the aegis of Reserve Bank of India, there have been some comprehensive and several subject/area specific studies of the development needs of the Indian rural sector. Like Bhashyas and Prakaranas on epics and Upanishads many have attempted research on such studies. The uncomfortable fact is, the findings seldom get the needed attention from the policy makers and governments(both central and state) and the political parties contest/debate figures depending on which side of the fence they are. As regards ‘suppression of findings’ of studies/surveys, this may not be a big issue as most of the reports are accessible, once they are finalised/submitted. Analysts

Fooling with food | Business Line Please open the link to read my letter on Remuneration Policy. M G Warrier

Letters: Reserve Bank of India's income and reserves | Business Standard Letters

G. Sampath on Modi government - Why everyone loves ‘good governance’ - The Hindu My VIEW: I liked the presentation. All of us will have different views on good governance. M G Warrier

Financial Scene: C.R.L. Narasimhan's weekly review — A slowdown or recession? - The Hindu My VIEW: A balanced analysis. M G Warrier

Pay divide: honchos leave the rest far behind | Business Line My VIEW: Apropos the report “Pay divide: honchos leave the rest far behind” (July 6), one wonders whether the Indian HR managers are guided by any national or rational policy in regard to wages, pay and remuneration which can be generally classified as ‘compensation for work done’, across sectors and ownerships. Immediately after independence, when President’s salary was fixed at Rs10,000 per month, there was a ratio of 1: 10 for minimum and maximum salaries in view and even top level private sector compensations did not exceed the President’s salary in many cases. It is not my intention to plead for any such ratio or for levelling of compensations in any manner. Whether in public sector(government included) or in private sector, there is a need to differentiate share in revenues or profit of the department or organisation from compensation for work done. Tax system also should differentiate these two streams

Letters: Modi-fied thoughts | Business Standard Letters Please read,share and respond. Your views may change mine! M G Warrier

Ashok K Lahiri: Corruption and Indian democracy | Business Standard Column My VIEW: I am inclined to agree with the conclusion that "The fight against corruption is going to get easier as economic opportunities expand with accelerating growth and access to information and aversion to corruption improves with expanding education." The problem today is the mix up of greed, misunderstandings about legitimate and corrupt practices because occasionally corruption or unethical practices are 'legalised' and lack of awareness about corruption. Irrational wage structure in sectors where either high productivity is there or huge funds are managed or even taxes are collected breeds corruption. Kautilya had said that 'it is difficult to find when a fish drinks water'. Perhaps his observation is very much true in today's world. M G Warrier, Mumbai

The experience of a train journey - The Hindu

In bulk of rural India, Rs5,000 is highest wage - Moneylife My VIEW: The revelations here, at a time India is talking about moving forward and becoming a 5trillion dollar economy(from the present $2 trillion) and having 'achieved'per capita income of Rupees one lakh, are disturbing. Same day(July 4) there is an observation by a renowned columnist in a financial daily that "...So for him(PM Modi) development doesn't seem to mean growth any longer; it means distrbution" People like me who have been talking about 'distributive justice' also are wondering how Modi is going to match the thirst for growth with inclusive justice! M G Warrier

Socio Economic and Caste Census 2011: 30% of rural households landless - The Hindu

T C A Srinivasa-Raghavan: Lessons from the first year | Business Standard Column My VIEW: M G Warrier 2005/1-D, DREAMS LBS Marg, Bhandup(West) Mumbai-400078 (+919349319479) The Editor Business Standard Letters July 4, 2015 Mo-deified thoughts This refers to T C A Srinivasa-Raghavan’s article “Lessons from the first year”(Line and length, July 4). The emergence of AAP and Modi as change agents on the Indian political scene was the inevitability forced by the methodology in governance followed by successive governments since 1970’s. India would have taken in her stride issues like delay in handling hunger-related problems and to some extent even corruption, if the political leadership (irrespective of denominations) had not been dominated by greed and total neglect of the pulses of the masses, assuming voters can be ‘handled’ once in five years by promises and sporadic sprinkling of money accumulated in accessible pockets during the ‘previous five years’. AAP proved tha

India’s GDP crossed the $2-trillion mark in 2014 - The Hindu

Economy on the recovery path      , says Rajan... | Business Line My VIEW:         Like money, statistics also has become an integral part of modern life. While speaking about forecasts, or while making a forecast, remembering the most uncertain weather forecast is normal. It is safe for RBI Governor to say at this stage that Indian Economy is on the recovery path. To balance domestic optimism, it is also part of job for international rating agencies to play with figures and dampen the enthusiasm of developing countries. Yes, the reference is to the finding of global rating agency Fitch that its own earlier assessment that India’s GDP was expected to grow at 8 per cent and 8.1 percent during FY2016 and FY2017 was wrong to the extent of 20 basis points each(published in Business Line, July 3). When it is forecast, dependent on several variables, such errors are normal and subsequent corrections are welcome. M G Warrier, Mumbai

Bombay High Court allows Nestle to export Maggi noodles - Moneylife My VIEW: I am not a food expert. I am a student of statistics and am aware of the flaws in sampling. Last so many decades of news watch has also taught me the extent of manipulations possible in tests, reporting results and so on in different circumstances. ‘Standards’ can differ in different countries and geographical areas. On the face of it, though, it would look odd to allow export of food found ‘below standard for domestic consumption’.  Time was, when commonsense and law had something in common! M G Warrier

IIM-A announces JSW School of Public Policy | Business Line My VIEW: ‘School of public policy’ is an idea whose time has come in India. It is heartening to find that the first serious move to establish one is coming from a reputed management institute with resource support from a well-known corporate house. This makes doubly sure that the project will take off smoothly. The vision woven into Sajjan Jindal’s observation “Public policy has not received adequate attention in our country. We feel that the vision of new India needs discourse and deeper understanding of this subject; the School of Public Policy will contribute immensely towards this cause…” is reassuring. In due course, the nucleus now being conceived and realised will grow to meet the educational, research and training needs of our corporates, political system and bureaucracy as the message spreads to our university campuses. The group of experts at IIM-A when deliberating the details will definitely consider

SBI plays down reports of Bharatiya Mahila Bank merger | Business Standard News My VIEW:  While one appreciates the SBI chief’s reluctance to discuss the issue at this stage in public, the need for a serious look at the ‘utility’ and viability aspects of BMB brought into being without much ground-work in 2013, after one and half years cannot be under-played. Banks depend on trust and public funds and introducing new institutions which are dependent on continuous umbilical support from government for survival and restrictions different from those applicable for banks as a class, can affect the morale of existing banks. Though it may seem unpalatable for political leadership, the organisation responsible for regulating and supervising banks, namely Reserve Bank of India should be given its due role in deciding the structure and role of institutions which will become banks. An institution with Rs1000 crore capital and loan book of Rs200 crore, twenty months after opening shop is a luxu