Showing posts from June, 2017

Principle of surrender: The Hindu/ Faith

Presidential Election is a political contest: Yechury Yechury is right. But political parties need to remember that they have a role beyond contesting and winning elections. M G Warrier

Bank Unions plan strike on August 22

Advice & Dissent: Y V Reddy Looks the book will make interesting revelations. Let's wait and watch! M G Warrier

About a future we cannot see: The Hindu Open Page A thought provoking article M G Warrier

RBI asks banks to be transparent about charges: Moneylife Do read this informative piece published @ M G Warrier

Viral Acharya: Kucch Thoh Log Kahenge... Kucch Thoh Log Kahenge... An interesting article on Viral Acharya, the human being by Tamal Bandopadhyay... M G Warrier


Idea for future With reference to “Now, Aadhaar must for opening bank accounts” (June 17), the piecemeal introduction of additional requirements for carrying out normal financial transactions makes citizens averse to innovations and helps middlemen make an easy buck for providing “services” which in the normal course should come free. Aadhaar, from the time the idea of “universal identity”, has suffered from the absence of a “project approach” in implementation. Politicians, professionals, the government of India, the media and social activists have contributed in equal measure in confounding the confusion that was the twin of Aadhaar. At least at this stage, the government should professionalise further processes in the implementation of Aadhaar   and restore its credibility in the minds of citizens. An all-purpose single identity number for each individual is a still sound idea for the future. That will solve number portability issues and minimise irritants such as problems

Presidential Election: Astute choice of candidate! BJP has been careful while selecting party's candidates for high positions. Here, the party has done a balancing act. While. victory of the candidate is almost certain, Movind, if he wins, will have to learn to choose his words for each response. M G Warrier

The high cost of ageing: The Hindu Interesting revelations. By 2050 India will have over 32 crore people who will be above sixty years of age. M G Warrier

Astute choice: 2017 Presidential Election A good beginning for a long debate on 2017 Presidential Election. M G Warrier

Turning a personal story into an inspiring public message An inspiring story from Andhra Pradesh M G Warrier

Moksha, Peaceful living on earth and avoiding worries about the herarafter Simply put, Moksha is "PEACE ON EARTH and NO WORRIES about LIFE AFTER DEATH" Gracious behavior, good deeds, being helpful to society...all help us to get Moksha! M G Warrier

Let's meditate our way to sound sleep! On International Yoga Day, let's be serious about sound sleep! M G Warrier

Resolution process and capital needs of Banking System RBI Deputy Governor is reasonably transparent and is not evasive. This is a welcome beginning. M G Warrier

What poverty can teach M G Warrier

Fiscal Mismanagement Posted online comments M G Warrier

An incomplete sacrifice: The Hindu/Faith Seed for Mahaabhaarata

Greed and Need revisited in the Banking Context! Interesting Review M G Warrier

Official abuse of governance: Somasekhar Sundaresan Interesting analysis M G Warrier

Bank Mergers: Shape of things to come Bank Mergers: Shape of things to come M G Warrier

Twelve Accounts sharing a quarter of stressed assets? Twelve Accounts identified by RBI holding twenty-five percent of Banking System's stressed assets, according to this report. M G Warrier

Gathering clouds on the US horizon: Trump's troubled times com/article/opinion/the- anxiety-of-a-trump- impeachment-117061201380_1. html For now, for leisure reading. But times are changing... and changing fast.  Gathering clouds on the US horizon... Learning from the past doesn't happen, when the student has no reading habit. Sometimes even insulation tapes melt and one gets a shock... M G Warrier

He ate his own, his own book! com/article/international/ author-eats-his-book-on-live- tv-show-after-wrong-uk-poll- prediction-117061100182_1.html Eating not just words...A whole book... Imagine    our media persons followed this practice! Newspaper record rooms will become paperless fast!! M G Warrier

When Krishna cried ? society/faith/he-gives- unstintingly/article18961321. ece Open the link to find out why Krishna cried! M G Warrier

Angels and demons n/open-page/your-own-angels- and-demons/article18956783.ece My VIEW: If I had written this article myself, it would not have been different, except that it would've been richer because of the advantage I've because I've lived longer and have the experience of several lives I've lived in different geographies and different points of time in history.  A must read article for those who are confused to make choices if they want to take a diversion to avoid a "dead end" M G Warrier

On pre-policy meetings, FinMin and RBI to stay with convention

On pre-policy meetings, FinMin and RBI to stay with convention : View in some sections of govt is that there's no need for ministry officials to meet MPC members... Meeting points This refers to Arup Roychoudhury’s report “On pre-policy meetings, FinMin and RBI to stay with convention” (Business Standard, June 12). The overenthusiasm of  Arvind Subramanian to fly higher than the country’s central bank has brought embarrassment to GOI and RBI on earlier occasions also. The deft handling of situations by Team RBI had then kept things under control and  did not allow misinformed media debates. With the episode involving Monetary Policy Committee covered in this report the relationship issues between Government of India(GOI) and Reserve Bank of India(RBI) have become a matter of derisive public debate. Not that there was never any friction between Finance Ministry and RBI in the past. Even books like “Dialogue of the Deaf” making serious fun of the endangered marriage between

Weekend Lighter: Short Holiday

Weekend Lighter: Holiday This Blog had a practice of periodically re-posting earlier posts, first titled "My Page" and currently as "Weekend Lighter" which appeared last on last Saturday. From this week, Weekend Lighter is taking a short break. Many thanks for the continued encouragement. This Blog is attracting over 3000 pageviews in a month, on an average. Hope to resume ASAP. Till then, Bye. M G Warrier

Getting back on the growth track: C Rangarajan Getting back on growth track: C Rangarajan Interesting thoughts M G Warrier

Management of Banks' NPAs: The Global ANALYST, June 2017

The Global ANALYST, June 2017 Management of Stressed Bank Assets*: It’s Time for Action M G Warrier, Ex-GM, RBI “All countries have central banks, and some countries also have additional financial supervisory authorities with designated functions. These agencies are responsible for ensuring compliance with their rules and regulations, and thereby encouraging ethical behavior in dealings between banks and their borrowers and depositors. While rules and regulations as well as periodic inspections are necessary parts of the regulatory framework, the supervisory system in many countries has become overloaded, and is also highly bureaucratic an discretionary…” -Bimal Jalan, former RBI Governor “The financial sector is, in many ways, the brain of a modern economy. When it functions well, it allocates resources and risk efficiently and thereby boosts economic growth while also making lives easier, safer and more fulfilling. It broadens opportunity and attacks privilege. It

RBI's inconsistent view: Business Standard Will be back with "My VIEW" ASAP M G Warrier M 134

King's wife, but not the Queen of his Heart! : Arshia Sattar Interesting thoughts and analysis. M G Warrier

Kinds of devotion: Faith, The Hindu

Evolution of Urjit Patel as RBI Governor RBI has an institutional mind and every Governor at some stage listens to the call of RBI's conscience. M G Warrier

A good decision not to lower rates

A good decision not to lower rates : However, the operating procedure for monetary policy needs to be reviewed... A balanced view This refers to Usha Thorat’s article “A good decision not to lower rates” (Business Line, June 8). This is one of the few balanced analyses to appear in the print media on yesterday’s monetary policy announcement. Reading in Business Line one’s thought wanders to the days when S S Tarapore’s “Maverick View” used to appear in this paper. Reason being the restraint observed in Thorat’s observations and the care taken not to be controversial both of which would have been absent if Tarapore had been commenting on the same subject. The relationship issues between Government of India(GOI) and Reserve Bank of India(RBI) have become a matter of derisive public debate in recent years. Even books like “Dialogue of the Deaf” making serious fun of the endangered marriage between fiscal and monetary policies are being sold like hot (though stale in content)

Finance ministry, RBI split out in the open - The Smart Investor

Finance ministry, RBI split out in the open - 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... GOI and RBI This refers to your sideline report “FinMin, RBI split comes to the fore”(Business Standard, June 8). The relationship issues between Government of India(GOI) and Reserve Bank of India(RBI) have become a matter of derisive public debate in recent years. Even books like “Dialogue of the Deaf” making serious fun of the endangered marriage between fiscal and monetary policies are being sold like hot (though stale in content) cakes. It is discomforting to see that Finance Ministry brought avoidable embarrassment to itself by inviting Monetary Policy Committee for a pre-policy tutoring which invite, MPC politely declined. Whosoever masterminded this grand idea, did not do a service to the country. Compare this crude way of i

Last thoughts: The Hindu, Faith society/faith/last-thoughts/ article18732055.ece I love reading the Hindu faith column.  Most of the days, it brings in focus some new thought. M G Warrier

RBI retains key rates in tact yNsI4162lceKS8XnLA4y0M/RBI- keeps-key-rates-unchanged-in- monetary-policy-announcemen. html%3ffacet=amp&utm_source= googleamp&utm_medium=referral& utm_campaign=googleamp# ampshare=http://www.livemint. com/Industry/ yNsI4162lceKS8XnLA4y0M/RBI- keeps-key-rates-unchanged-in- monetary-policy-announcemen. html A lament from media and analysts during the initial days of MPC was that there was no voting in MPC, despite difference of perceptions among members. This time this problem has been addressed as one member has expressed dissent. M G Warrier

Defining President's role: Amartya Sen Defining President’s role: Amartya Sen Interview* Excerpts: “The President of India has an enormously important role in the leadership of the country. This is not only because of the particularly assigned duties of the President in special circumstances, as in a political crisis of governance, but also because of the elevated standing of the head of the Republic in motivating and inspiring the secular democracy of India, guided by the Constitution. While a number of statesmen and politicians have played that role with distinction, going back to Rajendra Prasad (the first President of India), leaders of thought from other walks of life — including Sarvepalli Radhakrishnan, Zakir Husain, and K.R. Narayanan (among others) — have also, by their prominent presence and stature, helped to lead India to remain faithful to itself — reminding the country of the visi

Rating fiscal and monetary policy issues

http://m.thehindubusinessline. com/opinion/columns/ashima- goyal/understanding-indias- gdp-growth-issues/ article9719828.ece Posted online comments: Jokes apart, the article and recent developments in the Indian Economy and financial sector in particular, call for a more harmonious alignment of relationship among policy makers, regulators and corporates. Tools like inflation target or fiscal deficit 'target' or efforts to satisfy rating agencies cannot substitute for long term resources management and planning with focus on Economic Development, employment generation and social security. For this, a happy marriage between fiscal and monetary policies is an essential prerequisite. When Finance Ministry shows one upmanship and tries to discipline RBI using ownership rights, the normal support which has been available on tap from the central bank may dry up. M G Warrier Ashima Goyal responded: "Thank you. Yes, harmonious alignment within an analytical fram

ISRO crosses another milestone... Congratulations Team ISRO M G Warrier

THE ECONOMY IN THE TIME OF NARENDRA MODI: The Hindu   The economy in the time of Narendra Modi: Pulapre Balakrishnan Excerpts: “Impact of demonetisation All this is from a macroeconomic point of view. To be fair to the government, we must acknowledge its other programmes. Admittedly there are several but it is demonetisation that it thinks of as its showpiece. Claims made have been the ending of corruption and tax evasion. So far we can only be certain that there was an immediate slowing of growth in the formal sector of the economy after November as reflected in the Index of Industrial Production. It is too early to establish what the impact will be on tax revenues but it is difficult to imagine that demonetisation will achieve more for revenues than the Goods and Services Tax. Interestingly, in his book  The Curse of Cash , the guru of the “less cash” movement, Kenneth Rogoff, presents data that show countries with a relatively

Three Years of Modi Government: Dr Charan Singh 193/charan-singh What follows is the English version of Dr Charan Singh's article published in Ee Naadu (Telugu Daily) Three Years of Modi Government: An Economist’s Perspective By Charan Singh, IIMB The Government has completed 3 years under the able leadership of Prime Minister Narendra Damodardas Modi. It is time for another evaluation of the performance of the government. But   the key issue is how to evaluate the performance of the Prime Minister? Should the evaluation be concluded as most successful based on recent electoral victories or should it be analyzed granularly by examining economic and social indicators?  Electoral victories since May 2014 clearly indicate that the Prime Minister has been successful in gaining confidence of the masses, young and old, across the country.  It needs to be recognized at the outset that the Prime Minister has brought in a paradigm shift in India’s policy making from the earlier phi

WEEKEND LIGHTER: Changing with times

WEEKEND LIGHTER: Changing with times  (June 3/4, 2017, No.23/2017) Feel free to mail your views on this edition of WL to Section III YogaVidyaNiketan I Cover Story Changing with 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 and profit interests. The fast integration