WEEKEND LIGHTER: Delayed delivery of justice
(August 19/20, 2017)
Nine home remedies
for hiccups: Reader’s Digest
I
Cover Story
Managing
Resources Crunch
In his column “Snakes
& Ladders” (Business Standard, August 21), Ajay Shah has raised a very relevant
question, “Should we recapitalize the banks?”. The facts and figures that
follows the question, with a feast of links for further reading and the
columnist’s association with national level commissions/committees like
Financial Sector Legislative Reforms Commission (FSLRC) adds credibility to
whatever arguments he may support! So, for once, let us join the chorus from
the audience, “No…No…Not at all, if it’s with ‘taxpayers’ money!!’. Still, we
have to search out a solution, as we need banks to survive.
Recent
revelations show that banks were only conduits in a larger scenario of sweeping
out nation’s savings to different pockets within the country and abroad.
Bluntly put, like Airlines, Railways and other Transport Systems helping
smugglers or thieves shift their ‘loot’ to safer havens. The example is in the
context that sizeable bank credit has been deployed in dead investments or were
diverted willfully.
At this stage,
GOI need to make a realistic assessment of wealth with the nation, by separately
accounting assets with each industrial group, each family with wealth above a
cut off level, say 50 crores, each
individual whose networth is above Rs10 crore and each institution which
has declared assets over Rs100 crore. Those who have illicit wealth could get
punished, while others who possess genuine savings can contribute to
nation-building. This approach is likely to release enough resources to meet
the present short-fall in meeting fiscal responsibilities. Details of rewards
and punishments could be worked out with the help of eminent economists and
concerned ministries.
M G Warrier, Mumbai
II
Links to recent reports/articles
This supports the article
published by Moneylife in the context of criticism of Currency Notes issued.
M G Warrier
Posted online comments
M G Warrier
Posted online comments
M G Warrier
Book
Review:Advice and Dissent
This "note" on YV Reddy's Advice and Dissent was
forwarded to me by Mangesh Tarambale. Thanks, Mangesh.
Of late, I look at books, articles and responses, more as
resources to know more about the experiences the writers have passed through.
I've taken a short break from analysing them for facts and figures or trying to
figure out "how better, they could have acted in given situations".
As mentioned in this review, Reddy was doing a job in a manner
which he thought would serve Public Interest and keep himself and his job and
career interests safe.
M G Warrier
III
Recent
responses
Confused
Identity
This refers to
Shrimi Coudhary’s report “PAN deactivation jolt for tax evaders in stock
market” (Business Standard, August 16). It is not just about tax evaders. The
frequent meddling with citizen’s identity by responsible authorities is
creating embarrassment for several citizens who are not involved in any crime,
financial or otherwise, also.
Last week, at
the checking-in counter at a reputed hotel in Mumbai, I saw a guest being asked
to produce ‘some identity proof, other
than PAN card’. The guest produced Aadhaar Card which was accepted. While
waiting in the lobby, the guest casually asked me, why PAN was not acceptable.
He was not convinced when I shared my guess that ‘may be, because recently
thousands of PAN Cards have been deactivated, the front staff may not be taking
a risk’. According to him, the list of deactivated cards should be on the
website of IT Department and hotel staff ‘should be able to check out, in case
of doubt’. Citizens are now more aware about the possibilities of technology
than BBB (Businessmen-Bureaucrats-bankers) elite think, I thought.
Perhaps, my
short-time friend was making a valid point. GOI has been meddling with
citizens’ identity this decade beyond tolerance levels. Modernization or
introduction of new technology or better procedures and practices should not
inconvenience the target clientele group too much. There should be a project
approach to such shifts, ensuring and planning in advance for backward and
forward linkages, making transition a smooth affair.
If technology is
amenable, the Aadhaar Cards so far issued should be converted into
Multi-Purpose Single Index Numbers (SIN) with appropriate alpha-numeric
prefixes/suffixes to identify the uses like, for bank accounts, ration cards,
passport and so on.
M G Warrier, Mumbai
Delayed delivery of justice
The brief letter "Too little, too
late" (August 19) should be an eye opener for the Indian Judicial System
from top to bottom (yes, from Supreme Court to Magistrate Courts at Taluka
level). Aggregate number of cases pending at various levels has reached alarming
levels, needing decades to clear off, with present infrastructure.
Extraordinary situations need extraordinary
approaches to get over seemingly dead ends. These are, in reality, bumps to be
jumped out. All pending matters before courts across India should be divided
into two categories, (a) pending for more than a year as on a cut off date and
(b) current matters less than a year old.
Category (a) should be entrusted to Special
Courts at all levels formed with retired/retiring judges or willing and competent
Senior Advocates with responsibility to "drop" or settle within two
years.
Category (b) should be with working judges
with a mandate to decide within a year.
There is a case for review of priorities of
courts in listing practices in courts at different levels. Much of the precious
court time is being wasted in celebrity and political issues which create media
sensation. This is in addition to waste of resources in court by governments,
companies, banks and PSUs on "prestige issues", as those approving
expenditure do not experience the pinch.
M G Warrier, Mumbai
IV
LEISURE
Nostalgia: Happy, working
for RBI
When I was in the final year degree class, I happened to go to a
commercial bank (Canara Banking & Industrial Syndicate) in the town, some
five km away from my village. I saw Mr Vasudevan who was the best student in
our senior batch (that was the first batch of B Sc degree in Government
College, Madappalli) sitting in the cash counter. That day I felt that a bank
job was the best thing in life one could aspire for. I was one among five
students in our batch of 35 who completed B Sc that year from our college.
Missed First Class by 0.5 percent. I had Understood the value 0.5 percent in
1963 itself.
I shifted jobs three times before joining Thiruvananthapuram RBI
in January 1968.
I couldn't get through the rigorous exams/interviews which I
kept giving to get into a bank, till then. Attempts included a couple of bank tests,
SBI Probationary Officer's Exam and selection test for clerical Post in RBI,
Thiruvananthapuram (I was called for interview in 1964). 1967 written test I
stood first and could retain the first rank in the interview, which fulfilled
my ambition to be a bank employee.
I enjoyed every moment working in RBI. Tried to avoid getting
transferred from Thiruvananthapuram even by offering to remain in Grade A, but
when the threat of transfer in that grade was looking, reluctantly went for
Grade B interview. Later worked in Mumbai and Nagpur.
M G Warrier
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