WEEKEND LIGHTER: Destabilising PSBs!

WEEKEND LIGHTER: Destabilising PSBs!
(October 15/16, 2016, No.43/2016)
Weekend Lighter is posted every Saturday @mgwarrier.blogspot.in
Feel free to mail your views on this edition of WL to mgwarrier@gmail.com
I
Opening Remarks
Destabilising PSBs*
This refers to the report "Mounting losses may hit PSBs' ability to pay interest on bonds: Crisil" (Business Line, BOctober 13). The easiest way to kill a bank is to spread a rumour that the bank may not be in a position to meet its liabilities as and when demands come up. Failing to meet interest liabilities on due dates, whether it be on deposits or other instruments like bonds can cause a run on a bank. This report suggests such an imminent possibility in the case of some Indian PSBs.
Reserve Bank of India need to take cognizance of such planned moves coming from any quarters. Let us be clear about one thing. So long as ownership of PSBs remain with GOI, any failure by PSBs to honour commitments will have to be explained by government. The impact of gossip-like observations made vaguely by agencies like Crisil can do much harm to the health of the Indian financial sector, if left uncontested.
M G Warrier, Mumbai
*Letters, October 14, 2016

II
Recent responses
Ease of doing business
"Why Real Ease of Doing Business matters" by Siddharth Birla (The Hindu Business Line, October 15) gives deep insight into the possible reforms that can help India move towards the targeted 'under fifty' in the international ranking under various parameters relating to ease of doing business. Two other media reports also attracted my attention. One related to several agreements on business partnership signed between Russia and India on October 15 and another about a proposed assessment of 2.5 lakhs Gram Panchayats in India with reference to 36 parameters by experts. Russia has selected geographic area in India which are industries-friendly. This should send out messages to other nations that in India, there are States which can host entrepreneurship and waiting for India to come up in ranking may be counter-productive.
India is also readying to rectify positions at micro-level by in-depth analysis as is proposed for Gram Panchayats.
M G Warrier, Mumbai

III
Leisure
Lights of Life
I read about a move to make India “Kerosene free”. Times are changing and any idea can change your life! During my school days (1948-59), a small quantity of kerosene was distributed as ration along with a thoroughly insufficient quantity of poor quality rice. We will leave the quality and quantity of rice for dwelling on another occasion and concentrate on Kerosene. Electricity had not reached the villages and small towns of Malabar. The oil used for lighting lamps was kerosene. Depending on the economic status, there were different categories of lamps used by people. Like:
i)                   A metal bottle with a cap through which a rope-like cotton piece will be projecting which will be lit for light. The longer piece of the thread will sink deep in the kerosene in the bottle. The light can be used inside the house as it has no protection from breeze. Depending on the quality of kerosene, the emission of smoke will be little or too much.
ii)                 A small improved version of (i) with a glass container for kerosene, a machine-fabricated burner with provision for a glass cover for the light in the middle.
iii)               Bigger and bigger versions of (ii), some with shades, others with a holder or a hook to hang providing brighter light.
iv)               Petrol-max. Provides much brighter light. The air-power applied with a built-in pump enables oil vapour reach a mantle hanging from the top of the light and the mantle when lit provides bright light through the glass cover.
(inconclusive)


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