Warrier's blog

http://m.thehindubusinessline.com/opinion/changing-education-to-suit-employment-needs/article9716989.ece Interesting thoughts M G Warrier

http://m.thehindubusinessline.com/money-and-banking/customers-could-migrate-their-account-if-banks-misuse-autonomy/article9716191.ece Posted online comments M G Warrier

http://www.livemint.com/Opinion/2Rgb1V2JFWAyZJ5sO4ivZK/The-Reserve-Bank-of-India-is-changing-again.html A sketchy article. No comments as it doesn't have much substance. M G Warrier

PSBs oppose stake dilution via ETF - The Smart Investor : Market News from one of the most comprehensive financial news networks in India, it provides daily insight of the stock market, industry news, business news, economy news, loans... Changing with the times This refers to the report “PSBs oppose stake dilution via ETF” (Business Standard, May 31). Policies and institutions should be subservient to public interest. The recent criticisms by media and analysts directed at government moves to change policy approach or revamp institutional structure in different sectors including regulation and finance give an impression that even those who were pro-reforms, during pre-Modi days, now plead for status quo, whenever changes affect their own comfort zones. Restricting the discussion to banking sector, while formation of State Bank of India and nationalization of banks were based on sound rationale, primarily the reluctance of the then private sector to think beyond commercial

http://www.livemint.com/Industry/ftrBhMuJfdOvysWEHf30RJ/RBI-calls-for-account-number-portability-banks-wary.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter Over time, one single number may identify a citizen for all purposes! An idea whose time has come! M G Warrier

http://www.livemint.com/Opinion/WbJLkm7UxTm13LyVfn0kVJ/An-early-attack-on-independence-of-RBIs-monetary-policy-com.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter I don't want to believe, there are mala fide intentions in holding periodic interactions between GOI and MPC. The silver lining is, these days, GOI is doing things transparency and doesn't mind changing tracks when convinced that the direction is wrong. M G Warrier

http://m.thehindubusinessline. com/opinion/we-must-worry- about-state-finances/ article9715297.ece We must worry about state finances Excerpts: “ The Reserve Bank of India’s annual study of the State budgets (which is the primary source for disaggregated State-wise fiscal data) released earlier this month has highlighted three important factors which will guide the finances of the State governments in the medium term. These are Goods and Services taxes (GST), greater devolution of resources through statutory transfers from the Centre, and adherence to rule-based fiscal policy. The undertone of the RBI study reflects cautious optimism with a focus on GST, which has been termed as a ‘game changer’ for India. ” Resources Management This refers to the article “We must worry about state finances” (Business Line, May 30). The analysis by Pattnaik and Jagdish Ratnani gives deep insight into the need for GOI having closer liaison with managers of state government finance

http://www.livemint.com/ Industry/ ZKIJu8AdPLYDdCRHJzx8iI/ICAI- steps-in-to-check-if-bad- loans-are-being-misreported- by.html?utm_source=newsletter& utm_medium=email&utm_campaign= newsletter Former RBI Deputy Governor has observed that most of the regulations are not rule based.  M G Warrier http://wap.business-standard. com/article/opinion/ misreporting-of-npas- 117052901584_1.html Public Sector Banks are in the august company of some Private Sector Banks, shouldering the burden of NPAs M G Warrier

http://www.thehindu.com/news/national/kerala/vizhinjam-pact-loaded-in-favour-of-adani-cag/article18530667.ece  Vizhinjam pact loaded in favour of Adani: CAG Report Excerpts: "Unfavourable conditions in the concession agreement of the Vizhinjam seaport project have gone against the interests of the State government and to the advantage of Adani Ports and SEZ Private Limited, the Comptroller and Auditor General has said. According to the latest report on public sector undertakings tabled in the Assembly on Tuesday, the CAG has listed a number of conditions unfavourable to the State. The standard concession period for PPP (public-private participation) projects is 30 years. But it has been fixed as 40 years. This would help the company collect an additional revenue of ₹ 29,217 crore. As per the agreement, the concession period of 40 years can be extended by 20 years on the condition of capacity augmentation. The draft agreement had limited it by10 years. Had the go

http://www.thehindu.com/opinion/op-ed/three-years-of-modi-government-connecting-the-dots-after-three-years-in-the-saddle/article18595500.ece#comments Posted online comments M G Warrier

http://m.thehindubusinessline.com/opinion/

http://m.thehindubusinessline.com/opinion/modis-special-purpose-vehicles-have-clicked/article9713475.ece On August 15, 2014, Prime Minister Modi talked about the need to demolish Planning Commission and rebuild, as "renovation was not economic" NITI Aayog came into being. India was waiting for someone who will take responsibility for CHANGE. Modi, Vinod Rai, Raghuram Rajan, Sridharan, Kejriwal and millions who trusted them are together changing India. M G Warrier

http://www.thehindu.com/opinion/open-page/neither-a-borrower-nor-a-lender-be/article18591187.ece Interesting article.  Interesting article which will bring several good, bitter and worst experiences we had during last century with people you thought were your friends! M G Warrier

WEEKEND LIGHTER: Strength of Prayer  (May 27/28, 2017, No.22/2017) Feel free to mail your views on this edition of WL to   mgwarrier@gmail.com Section III:Strength of Prayer I Cover Story Blow hot, blow cold? This refers to your editorial “Mergers do not help” (Business Standard, May 23). Financial sector reforms have suffered from the impact of a “Blow hot, blow cold” approach not only from the policy makers and political leadership, but from mainstream media and analysts also.  Diverse vested interests always tried to use any one of them or a combination from these agencies to dodge changes which they considered, may affect their profit motives. Back to the subject of mergers, we do not need​ this many banks. The consolidation process and restructuring efforts should have started simultaneously with Bank  Nationalization. Next time when you see a bank branch or ATM in a city or big town, look around for another bank branch or another ATM in close neighborho

Dr V P Gangadharan, Oncologist Copied below is a message included in my daily email to Exrbites Group on Thursday, May 25, 2017: Good Morning All Dr V P Gangadharan, renowned Oncologist from Kerala writes a short column, every Thursday in Mathrubhumi "Nagaram" a supplement issued with Mathrubhumi Daily.  He is recouping his health after hospitalisation with a heart ailment early this month and expects to resume his active medical practice and social work in a couple of weeks from now. All these weeks, he expressed his views and experiences as a patient through his column "Snehaganga". Prayers and "Get well" messages flowed non-stop into his mail-box. About that Dr Gangadharan says this week: "Our life realises its goal, once another person feels, it is in my interest that this person should survive" And quotes a former patient (who continues follow up treatment) telling him over the phone: "Doctor, I prayed to the almight

http://www.thehindu.com/ todays-paper/tp-opinion/ should-agricultural-income-be- taxed/article18579636.ece "I have always maintained that we must tax the rich farmer, and aim at bringing the small and mid-level farmers to levels where their produce becomes competitive. Offer incentives to them. But watch out for the corporate farmers." -M S Swaminathan, Head, MS Swaminathan Research Foundation that works in the area of sustainable agriculture. My VIEW: Well-argued debate on the subject. M G Warrier

http://m.thehindubusinessline. com/opinion/columns/from-the- viewsroom/net-banking-is-a- challenge-for-the-elderly/ article9709231.ece Transitions can be made smoother.  Everyone needs to cooperate and find ways to help who are not able to keep pace with fast change. Professionals also should be trained to handle situations like the one described here. Not only in banks, but in all organizations which have become technology driven with no human face, there is need to arrange help for elders and physically challenged who are not able to keep pace with the changes in technology. M G Warrier

http://wap.business-standard.com/article/economy-policy/make-in-india-gets-sourcing-push-from-govt-117052401822_1.html Interesting developments on the "Make in India" front. M G Warrier

http://www.thehindu.com/books/books-reviews/money-and-power/article18515160.ece Excerpts: “As the RBI seeks to rebuild its reputation, it is fortuitous that we have with us a book which the preface tells us aims to take the layperson through the history of the RBI. The layperson needs such a piece of writing for, again as this book itself points out, the many volumes of the official history of the RBI are far too tedious for the general reader to want to plough through. Some credit though must be given to the RBI for commissioning volume after volume of its history over the decades, perhaps the only public institution in India that has given history its importance. TCA Srinivasa Raghavan has been writing and commenting on the economy in many of India’s leading newspapers for more than three decades. He was also involved in the writing of Volume 3 (1967-81) of the official history of RBI and for a while Volume 4 (1981-97). He says for close to a decade he also had access to

http://wap.business-standard.com/article/economy-policy/operation-clean-money-war-on-black-money-is-only-half-won-117052301838_1.html Demonetization is one of the big bang reforms, mentions the report. M G Warrier

http://www.moneylife.in/article/all-the-lsquonewsrsquo-not-fit-to-be-shared-and-aired/50567.html Disturbing revelations M G Warrier

http://m.thehindubusinessline.com/money-and-banking/rbi-to-revamp-oversight-panel-to-tackle-bad-loans/article9709998.ece Have posted online comments responding to reader's comments M G Warrier

http://www.thehindu.com/opinion/editorial/hack-it-if-you-can/article18525773.ece#comments

http://wap.business-standard. com/article/opinion/mergers- do-not-help-117052201644_1. html Blow hot, blow cold? This refers to your editorial “Mergers do not help” (Business Standard, May 23). Financial sector reforms have suffered from the impact of a “Blow hot, blow cold” approach not only from the policy makers and political leadership, but from mainstream media and analysts also.  Diverse vested interests always tried to use any one of them or a combination from these agencies to dodge changes which they considered, may affect their profit motives. Back to the subject of mergers, we do not need​ this many banks. The consolidation process and restructuring efforts should have started simultaneously with Bank  Nationalization. Next time when you see a bank branch or ATM in a city or big town, look around for another bank branch or another ATM in close neighborhood, providing the same service. Just think, whether a slightly bigger branch providing better service and a poo

http://www.thehindu.com/opinion/columns/a-history-of-histories/article18516480.ece I wonder, how little we have, about how short a period we have in recorded history! M G Warrier

1000 Love Letters We were witness to 1000th staging of Malayalam drama "Love Letter" on May 21, 2017 in the open air theatre in the Tagore Theatre premises in Vazhuthacaud, Thiruvananthapuram.  The drama based on a short novel by Vaikom Muhammad Basheer (Premalekhanam meaning 'Love letter') has only two characters Keshavan Nayar and Saramma given life to by seasoned, trained theatre artists Amal Raj and Divyalakshmi, husband and wife in real life.  The fairly big square open stage had about 1000 drama enthusiasts sitting/standing around. V S Achuthanandan, Chairman, Administrative Reforms Commission, Kerala inaugurated the function in the presence of dignitaries including veteran Malayalam movie producer and actor Madhu. It was cloudy and some of us were really worried, what would happen, if it rained. In God's Own Country, when a crowd of the kind we were part of silently pray, rains too will wait. The story was a simple love story of 20th Century wit

http://wap.business-standard.com/article/current-affairs/evms-fully-tamper-proof-ec-s-live-demo-of-evms-vvpats-to-decide-tomorrow-117051900394_1.html Election Commission has invited political parties to satisfy themselves about the safeguards in the EVMs in the context of wild allegations by political parties when they lose elections. M G Warrier

Fix corporates first to lift credit flow, says Viral Acharya : RBI deputy governor wants companies to take steps to reduce debt... Read highlights of Viral Acharya's presentation at rbi.org.in My VIEW: Final diagnosis This refers to Ishita Ayan Dutt’s report  “Fix corporates first to boost credit flow: Acharya”(May 20). The report has excellently captured the theme of the detailed presentation made by RBI Deputy Governor at the ICC Banking Summit on May 19, 2017. Looks, the chase of stressed assets has come full circle and having identified the source of malignancy, which is the borrower who is not able to generate adequate income from the investments made out of credit availed, or diversion of income generated, prescription for ‘treatment’ can now be accurate. M G Warrier

http://www.freepressjournal.in/book-reviews/banking-reforms-and-corruption/441008 Posted again on the occasion of this Blog crossing one lakh pageviews M G Warrier

Crossing one lakh pageviews Tonight this Blog will cross a landmark: 1,00,000 pageviews. A big thank you to all who have made this possible. Rededicating to the vision statement recorded in the first post here M G Warrier

http://m.thehindubusinessline.com/opinion/labours-share-is-falling-everywhere/article9705883.ece Have posted online comments M G Warrier

http://www.thehindu.com/opinion/lead/ending-nuclear-dependency/article18491521.ece M R Srinivasan, former Chairman, Atomic Energy Commission gives a comprehensive picture of the status of developments in nuclear energy sector in India. Have posted online comments. M G Warrier

WEEKEND LIGHTER: The Global ANALYST  (May 20/21, 2017, No.21/2017) Feel free to mail your views on this edition of WL to   mgwarrier@gmail.com Section III: Leisure:Aadityahrudayam I Cover Story Clarity on RBI’s Role This refers to the excerpts from BS interview with Deepak Parekh captioned ‘RBI has to ensure NPAs are not swept under the carpet’ (Business Standard, Q&A, May 16). The brief answers from the veteran banker, to the pertinent questions raised by Joydeep Ghosh should set at rest the apprehensions raised by economists and the analysts in the media about the purport of the latest Ordinance amending the B R Act and the role of RBI in the resolution of NPA crisis. Post-Ordinance debates strayed away from the main issue of managing stressed assets of the banking system and were sometimes judgmental   about the modalities to be followed and the role of GOI and RBI in supporting the banks to get out of a crisis created by policies which compromised prude

http://wap.business-standard.com/article/current-affairs/evms-fully-tamper-proof-ec-s-live-demo-of-evms-vvpats-to-decide-tomorrow-117051900394_1.html I've earlier responded on this issue in the media and also posted my views here M G Warrier

http://wap.business-standard.com/article/economy-policy/money-sent-abroad-illegally-in-2007-equals-cost-of-linking-india-s-rivers-117051900150_1.html Interesting information. M G Warrier

http://www.thehindu.com/features/metroplus/society/dr-tiny-nairs-guide-to-being-happy/article7557524.ece This is a 2015 article. I don't think I've posted this here earlier. M G Warrier

http://www.moneylife.in/article/why-lawyers-charge-the-way-they-do/50477.html My view: Have posted online comments. Not just judges, every citizen need to worry about the need for professionals to do their homework. The quality of the service provided is dependent on the knowledge and skills of the person providing the service. Alphabets in the qualifications do not mean anything unless the person keeps the skills necessary for performance of the job he does, updated on an ongoing basis. M G Warrier

http://www.thehindu.com/society/faith/ My VIEW: Interesting episode in the "LIFE" of Shiva! M G Warrier

Ring-fencing RBI in a new NPA regime : The RBI will embroil itself in banks’ decision-making and yet act as regulator. This can only be a temporary arrangement... Excellent suggestions coming from a seasoned central banker. M G Warrier

http://kamadenu.blogspot.in/2017/05/goverdhan-subduing-pride-of-indra.html?m=1 M G Warrier

http://www.thehindu.com/business/Industry/no-path-over-the-rainbow-for-banks/article18451940.ece Have posted online comments M G Warrier

RBI has to ensure NPAs are not swept under the carpet: Deepak Parekh : Interview with Deepak Parekh, chairman, HDFC... Clear perceptions   This refers to the excerpts from BS interview with Deepak Parekh captioned ‘RBI has to ensure NPAs are not swept under the carpet’ (Business Standard, Q&A, May 16). The brief answers from the veteran banker, to the pertinent questions raised by Joydeep Ghosh should set at rest the apprehensions raised by economists and the analysts in the media about the purport of the latest Ordinance amending the B R Act and the role of RBI in the resolution of NPA crisis. Post-Ordinance debates strayed away from the main issue of managing stressed assets of the banking system and were sometimes judgmental   about the modalities to be followed and the role of GOI and RBI in supporting the banks to get out of a crisis created by policies which compromised prudent principles for political and administrative expediency. Deepak Pareekh has done a servi

http://m.thehindubusinessline.com/opinion/resolving-bad-loans-is-not-the-rbi-job/article9691529.ece Have posted online comments: "Since independence, RBI has been performing several roles which are not assigned to Central Banks elsewhere in the world. The present Ordinance doesn’t add much to the regulatory powers or responsibilities, but will serve to tell the stakeholders that GOI and RBI are on the same page. RBI Act together with the pre-ordinance B R Act confer enough powers on RBI to regulate and supervise Banking System.  Problems, including the present one relating to stressed assets emanated from back-seat driving by Finance Ministry using "ownership rights" both that of RBI and PSBs. Trespass into internal functioning including credit decisions and HR issues by finance ministry during the 10 years ending FY 2014 has done irreparable damage to the functioning of RBI and PSBs. Unusual situations call for unusual policy decisions. Ordinance should be see

http://www.thehindu.com/life-and-style/what-better-way-to-celebrate-mothers-day-than-donating-breast-milk-to-the-milk-bank-at-the-general-hospital-to-help-other-mothers-who-may-not-have-enough-for-their-babies/article18446758.ece Observing Mother's Day in a different way! M G Warrier

  http://www.thehindu.com/ opinion/open-page/revisiting- the-house-of-dreams/ article18446774.ece#comments Excellent narration. Brings back one's own nostalgic memories about the ancestral home which was there, which is not there! M G Warrier

WEEKEND LIGHTER*: Non-Performing Private Sector  (May 13/14, 2017, No.20/2017) Feel free to mail your views okn this edition of WL to   mgwarrier@gmail.com *Posted at www.warriersblog.com every Saturday. Section III: Leisure: Karna and Krishna I Cover Story Non-Performing Private Sector* This refers to Anup Roy’s piece “Bad loan crisis shows signs of subsiding, says analysts” (Business Standard, May 11). Public sector banks continue to remain the whipping boy for the non-performance of assets created in the private sector. All through, the comparisons have been the percentages of gross and net NPAs accumulated in ‘public’ and ‘private’ sector banks. Rarely one reads anything about the context of formation of State Bank of India, Bank Nationalization, current business mix or share in banking business held by the two categories of banks. Remember, both categories of banks are sourcing their resources from public deposits and are serving the same clientele. Strict