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 mgwarrier@gmail.com
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 of public and private sectors in business mix and exploitation of resources has made it necessary to provide level playing field for institutions in public and private sectors in all respects. As time passes, the differentiation between public sector and private sector banks will, and should, fade away.
As a corollary, GOI, irrespective of their contribution to the share capital of banks, should realize the need to keep away from the In-house affairs of public sector banks beyond the extent permissible as shareholders. Policy interventions, regulation and supervision of all banks should be through the Reserve Bank of India only, for both public and private sector banks.
Recently, a former RBI Deputy Governor (Chakrabarty), according to media reports, observed that “regulations are not rule based”. RBI has never been found guilty of crossing its mandated contours of authority. Uninformed comments coming from former executives cause avoidable embarrassment to institutions like RBI.
M G Warrier, Thiruvananthapuram
II
A recent response

Resources management

This refers to the article “We must worry about state finances” (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 finances if they do not want to abruptly land in a situation similar to the one now the Indian Financial Sector has arrived due to neglect of stress in asset management by banks. 
Nation's resources under the present dispensation are managed by GOI, state governments and private sector comprising corporates and cooperatives.
There has to be harmony in approach and consensus on priorities among these agencies, the responsibility for ensuring which squarely lies on Central Government. Put bluntly, GOI need to play leadership role in the management of country’s resources.
Without understanding the role expectations from various agencies, ignorant veterans like former RBI Deputy Governor K C Chakrabarty will lament about inadequate guidance from Reserve Bank of India or regulations not being rule based and RTI activists will chase obsolete records dumped somewhere.
GOI, now preferably through NITI Aayog, should guide finance ministry at the centre, state governments and other organizations including banks and corporates which source funds from public to put in place an Asset-Liability Management system, keeping in view the short-term, medium-term and long-term resources needs and remunerative deployment of resources mobilized.
M G Warrier, Thiruvananthapuram

III
YOGAVIDYANIKETAN*, MUMBAI
This year Yoga Vidya Niketan conducted Summer Camp at 60 centers of suburbs of Mumbai and Navi Mumbai to spread Yoga among the common people by teaching them four graded courses (Preliminary, Intermediate, PreStandard & Standard) recognized by Govt. of Maharashtra.
Classes were conducted for six days Monday to Saturday for one and half hour between 6.00 to 8.00 in the morning and evening.
This is Internship for the students to conduct classes and teach Yoga. They have successfully completed the theory and practical examinations of the course, "Diploma in Yogic Education" (Anatomy Physiology, Education Psychology, Yoga Philosophy and Yoga Application with Hatha Yoga Practices).
Here, it is concluding session of E5 Center of Summer Camp of YVN, at Zen Hospital in Chembur, conducted by YVN's teachers: Dr. Vandana, Rupesh Mayekar and Sonali Thakur. Congratulations. Keep it up.
Most satisfying experience for me to be the Parent Teacher for Chembur & Govandi Centers of the Summer Camp.
Every activity of Yoga Vidya Niketan is the Blessing of our revered Guruji Padma Shri Sadashiv Nimbalkar, who is the Prime Student of Swami Kuvalayanadaji, founder of Kaivalyadhama, Lonavala.
Yogacharya Nimbalkarji founded Yoga Vidya Niketan in 1974 with the first Summer Camp with a dream to reach ancient traditional holistic lifestyle to reach every common man.
His dream is being fulfilled by the 100s of new teachers of YVN every year, who are carrying the torch of Yoga to remove the ignorance and spread the awareness of our true existence in this Universal Map.
Om Tat Sat!
K S IYER
*As reported by Iyerji in a mail shared with Exrbites Group


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