Showing posts from 2017

Central banks' year of reckoning: Raghuram Rajan


THE REAL JOY OF GOING PLACES An interesting article on travel M G Warrier Excerpts: “I belong to the Indian banking family, and thanks to the leave fare concession (LFC), I have a fair share of traveling experience. I am also a mother of three children in their twenties who belong to the #wanderlust generation. All my LFC tours have been to the most touristy places we could find at the given time. So Kaziranga may not be the place to find solitude but sighting a mother rhino-baby rhino pair is no less joyous. And I would have missed them if not for the Punjabi family screaming with excitement on spotting the pair from a kilometer away. Next to the Punjabi family was a group from Chennai in which all the women were clad in beautiful sarees. That is how I came to know of Mysore silk. My son says I can see and buy the same on the Internet but the Internet also has a picture of


WEEKEND LIGHTER: A MILLENNIUM TURNS EIGHTEEN! (December 16-31, 2017) I-Cover Story A Millennium turns eighteen   December 31, 2017 Tonight 21 st Century will enter its eighteenth year of existence. 18 years may not be a long period, but the 18 th Birthday calls for celebration as this is the time one is close to becoming a major when one looks back with satisfaction and looks forward with  confidence to live life on one’s own terms. The legacy of the previous millennium becomes history and the 21 st Century is now going to decide the path it is going to take to perform better than the previous century and what way it is going to make 22 nd Century proud of its predecessor. Let’s wish all those who will support 21 st Century move in the right direction from tomorrow a HAPPY NEW YEAR! II RECENT RESPONSES RBI’s reserves This refers to A K Bhattacharya’s piece on ‘North Block versus Mint Road’ (Business Standard, Raisina Hill, December 25). This response

Open the doors of temples: The Hindu Business Line Viewsroom, The Hindu Business Line "Open the doors of temples to those who want to worship! M G Warrier

Happiness @facebook: The Hindu Open Page article Happiness @facebook: The Hindu Open Page M G Warrier

The Gift of Christmas: The Hindu The message from Jesus M G Warrier Thiruvananthapuram

A teacher's tribute to Dr Arunachalam Kumar: The Hindu Open Page Dr B M Hegde is different. M G Warrier Thiruvananthapuram

In praise of Shashi Tharoor's vocabulary: The Hindu Open Page Excellent article. I've no vocabulary to comment on this. M G Warrier

A June 2016 article on Raghuram Rajan This assessment of Raghuram Rajan by one who has worked with him gives insight into the personality of Rajan M G Warrier

Income inequality: Address this issue for world peace Income inequality is an issue which needs to be addressed, if world peace is on our agenda M G Warrier

Cleansing the election process: Opportunity in 2018 Assembly Elections!

4 more state elections in 2018: How it willl change the political equations : Another set of state elections is due in 2018 Cleansing the election process This refers to the story “The next political challenge” (Business Standard, Politics & public affairs, December 18) analyzing the status and prospects of fortunes of a cross-section of political combinations in Karnataka, Meghalaya, Nagaland and Tripura. The 2018 Assembly elections should be taken as an opportunity to change the perceptions about the electoral processes in the minds of people. There was a visible change in the conduct of political parties across denominations in the 2014 elections. The reference is to the focus on issues at that time, thanks to the influence of India Against Corruption (IAC) movement and the urge for change generated by a static governance machinery at the Centre. Three years down the line, the experience of the just concluded Gujarat and Himachal Pradesh elections makes one feel that

Krishna for Today: Keshav Krishna for Today: Keshav M G Warrier

The smile that made the day: The Hindu Open Page opinion/open-page/the-smile- that-made-the-day-on-austism- spectrum-disorder/ article21822959.ece This happened to be the first article I read today. I again remembered, organizing the day's schedule is not in my hands. What I have to do is, act the 'bit role' given for the moment, being aware that someone is "watching" and, my next role, next moment will depend on the impression I am able to create in the mind of the "power" that is watching my performance... Back to the article. The content has come to us earlier... But, the smile and the appeal in the concluding remarks made by the author carry messages we often skip or ignore. Take my own case. For years, I accumulated loads of things including a vacuum cleaner (purchased long back and was never used!). This May (2017) when were shifting from first floor to renovated ground floor, we disposed half the accumulations. Now I've to get rid of some books including a

Let us discuss 'good death': The Hindu Open Page opinion/open-page/what-it- takes-for-a-good-life-and-a- good-death/article21823008.ece Let’s discuss ‘good death’ : The Hindu Open Page M G Warrier

When the clock struck doom

When the clock struck doom : Here’s a first-person account of how the Lehman Brothers debacle in the US turned a buzzing office in India into a cemetery

Apex court extends Aadhaar linking deadline to March 31

Apex court extends Aadhaar linking deadline to March 31 : But existing Aadhaar holders will have to furnish number while opening a bank a/c Multi-purpose Single Index Number The piecemeal introduction of additional requirements for carrying out normal financial transactions or availing services make citizens averse to innovations and helps middlemen make an easy buck for providing 'services' which in the normal course should come free. The breathing time until end March 2018 should be used to rationalize and reorganize identity needs of all citizens for all purposes.   Aadhaar, from the time the idea of "Universal Identity" has suffered from the absence of a 'project approach' in implementation. Politicians, Professionals, GOI, media and social activists have contributed in equal measure in confounding the confusion that was the twin-brother of Aadhaar. Now that the Supreme Court has allowed some time, GOI should professionalize further processes in th

WEEKEND LIGHTER: All-purpose Single Identity Number

WEEKEND LIGHTER: All-Purpose Single Identity Number (December 1-15, 2017) I-Cover Story ALL-PURPOSE SINGLE IDENTITY NUMBER December 15, 2017 All-purpose Single Identity Number This refers to the report "Deadline to link Aadhaar is now March 31, 2018" (The Hindu Business Line). The piecemeal introduction of additional requirements for carrying out normal financial transactions or availing services make citizens averse to innovations and helps middlemen make an easy buck for providing 'services' which in the normal course should come free. The breathing time until end March 2018 should be used to rationalize and reorganize identity needs of all citizens for all purposes.   Aadhaar, from the time the idea of "Universal Identity" has suffered from the absence of a 'project approach' in implementation. Politicians, Professionals, GOI, media and social activists have contributed in equal measure in confounding the confusion that was t

Resolve the problem of internal blindness! Interesting thoughts M G Warrier

You are the master of your thoughts: The Hindu FridayReview A thought provoking article M G Warrier Thiruvananthapuram

Note on Calendar, 2018 Note on Calendar, 2018 M G Warrier Thiruvananthapuram

Business Standard Banking Round Table, 2017 Top Bankers and K C Chakravarthi express their views on state of affairs of Indian Banking System today. M G Warrier Thiruvananthapuram

Garuda: Serving in many ways society/faith/serving-in-many- ways/article21386046.ece It's interesting to understand the roles assigned to different living beings in the Indian Mythology M G Warrier

Fate, free will and law of Karma: Speaking Tree Interesting thoughts M G Warrier

Kerala Cancer Care Grid: A welcome initiative national/kerala/states-cancer- care-facilities-to-be-linked/ article21386743.ece A welcome move. M G Warrier

Draft FRDI Bill: Business Line editorial A balanced view M G Warrier

TV, Laptop and smartphone: A real life story: The Hindu Open Page Interesting article. Excellent picturisation M G Warrier

Bank Insolvency Bill: Safeguards for depositors Posted for information M G Warrier Thiruvananthapuram

IFFK 2007: December 8-15, 2017 In the backdrop of last week's Okhi deaths and several families still awaiting return of their breadwinners from the sea... The inaugural session of the IFFK 2017 yesterday skipped formal functions and celebrations. M G Warrier Thiruvananthapuram

Monetary Policy I've tried to plead for a clear assurance on protecting savers'interest. M G Warrier

Monetary Policy stance: RBI's cautious, right approach RBI's right M G Warrier

Bail-in worries Posted online comments M G Warrier

Keshav's paintings: @kamadenu Akrura on Kamsa's order comes to escort Krishna and Balarama... M G Warrier

Bail-in doubts: The Hindu editorial

PSBs' Recapitalization: The Global ANALYST, December 2017

This is the 3333rd post on this blog. My thanks to all those who have made this possible. MG Warrier The Global NALYST, December 2007 PSBs’ Recapitalization* Last Hurrah! M G Warrier Union finance minister Arun Jaitley by announcing the comprehensive recapitalization plan for public sector banks has done a commendable service to the banking system. The sagging image of Indian Banking System which had shouldered the major burden of the cleansing process of Indian Economy initiated by RBI and GOI last year has got a deserving boost by this timely measure.  The Finance Minister gave the following details about  the recapitalization plan for state-run banks worth Rs 2.11 lakh crore approved by the Union Cabinet: ·        Of Rs2.11 lakh crore, a sum of Rs 1.35 lakh crore will be raised through recapitalization bonds while another Rs 76,000 crore would be available from budgetary support and raised through market borrowings. ·        The exact nature of these recapitali

Need to raise Deposit Insurance threshold This article was published in The Hindu Business Line on November 8, 2016 M G Warrier Thiruvananthapuram

Political Economics: Business Standard, letters Submitted version of this letter was published here two days earlier M G Warrier

A start up story for starters! Interesting article M G Warrier

Notion Press A start up venture supporting starters....A blessing to beginners in writing and publishing... M G Warrier Thiruvananthapuram

Self, a true friend: The Hindu Faith column Self, a true friend M G Warrier

Fighting hunger: Are we serious? If we have to fight hunger, we need to be more serious about equity and distributive justice. M G Warrier

The economics of bottomless pits

The economics of bottomless pits : We don't know how government ownership affect the behaviour of privately owned firms December 3, 2017 Political economics This refers to  TCA Srinivasa-Raghavan’s brilliant analysis “The economics of bottomless pits” (Business Standard, Marginal Utility, December 2/3). Quite possible, because of the lavish sprinkling of economic theory and sophisticated jargon, lay readers like me may miss the real issues raised. Still, all the concerns shared deserve attention and informed debate. The concept of ‘mixed economy’ was a joke during the Nehru days. I still remember E X Joseph who worked in Bombay AG’s Office during those days (1963), comparing mixed economy to adulteration of chicken meat with meat from dead horses during war days in Britain. The proportion was 1: 1, one horse for one chicken! He said in mixed economy capitalism and socialism were having that kind of ‘mixing’  (Joseph is now a Senior Advocate in Supreme Court). The role

Total absence of HR planning can be harmful Total absence of resources planning : While deployment of machines for getting work done more efficiently and faster and use of robots for risky, dirty or hazardous jobs has to be welcomed, keeping workforce under perennial threat of skills becoming obsolete every decade or making labour cheaper by threatening job elimination can have perilous social security consequences. M G Warrier Thiruvananthapuram

Reddy on high level of SLR for Indian banks By one 'masterstroke', Reddy is trying to weaken banks and asks GOI and state governments to reduce dependence on captive sources for funding public debt. M G Warrier

Enter: Mitra the Robot, greeting with "Namasthe" Enter Mitra the Robot, Greeting with NAMASTHE... M G Warrier

RBI Pension Revision: RBI circular dated March 13, 1992 RBI Pension Revision: Context and content of RBI circular dated March 13, 1992 M G Warrier Thiruvananthapuram

Nik Gugger : Retains identity This story carries a message M G Warrier

The Skull of Alum Bheg This except gives deep insight into the possible content of the book M G Warrier

Message from Tata Nano November 27, 2017 Message from Tata Nano This refers to the report “End of the road for ‘cheapest car’: Dealers stop placing orders for Tata Nano” (Business Standard, November 27). During the last ten years, we have seen the exploitation of common man and consumers as a class being converted into political propaganda ideas by shrewd politicians and business propositions by intelligent politicians and businessmen. I look at India Against Corruption(IAC) and the emergence of Air Deccan and Tata Nano from this angle and am convinced about the positive impact these had on the political scene and a radical change in manufacturers’ and consumers’ approach to costs and prices. All the three phenomena are bound to disappear, but the messages will lin

Fighting under-nutrition: GOI Review Welcome signals M G Warrier

National Milk Day 2017 National Milk Day 2017

Contentment: The Hindu Open Page An Inspiring Article M G Warrier

Songs of a coward: The Hindu Literary Review A review of Poems by Perumal Murugan

Krishna for today: Keshav Keshav's paintings

How to prepare Tandoori Chicken: BLink Weekend enjoy something non-vegetarian M G Warrier

TREKKING TO THE HIGHEST SHRINE The Hindu Friday Review, November 24, 2017 TRAVELOGUE Trekking to the highest shrine


WEEKEND LIGHTER: BEYOND EXTERNAL RATINGS (November 25/26, 2017) Cover Story Beyond External Ratings This refers to your editorial “Rating the raters” (Business Standard, Weekend Ruminations, November 18). T N Ninan has done a brief, but an excellent summing up and analysis of the challenges external rating agencies pose, encapsulating many fallacies in the rating exercise usually ignored by media and analysts while celebrating an upgrade or lamenting about an unusual downgrade. Enjoyed reading the comment on 'definition of corruption'. Strangely, what is ‘bribe’ in India is accounted legally as ‘promotional expenses’ or ‘discounts allowed’ in other countries and the corruption tag gets removed as the expenses become ‘legal'. This applies to several parameters applied by rating agencies which parrot the feelings of their masters. Just one more example: This paper also has accepted ‘Debt to GDP Ratio’ is high in India. True. But, we forget that in the