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Showing posts from February, 2018

Check NPAs above Rs 500 mn for possible fraud, alert CBI: Govt tells banks

Check NPAs above Rs 500 mn for possible fraud, alert CBI: Govt tells banks : Lenders told to plug operational, technological loopholes in 15 days Owner and regulator This refers to the report “Check for fraud in NPAs above Rs 500 mn: Govt” (BS, February 28). On the face of it, there is nothing extraordinary in ‘owner’ of a business giving operational instructions to the staff working under him. GOI as the owner has the responsibility to ensure smooth functioning of PSBs and the recent developments have shaken the public trust in PSBs, which need to be restored quickly. But in the given situation, the divergent instructions flowing from GOI and RBI will confuse the already strained managements of PSBs. More likely, they will start waiting for instructions from North Block even after getting operational or supervision-related instructions from RBI, as it is the Finance Ministry which decides the fate of the top management in PSBs. This is an embarrassing situation for the c

Privatisation of PSBs

http://www.business-standard.com/article/opinion/letter-to-bs-privatising-public-sector-banks-to-improve-professionalism-118022800011_1.html M G Warrier

Message from market to PNB, other PSBs: Bring in new credible leadership

Message from market to PNB, other PSBs: Bring in new credible leadership : We will support if the govt brings in credible leadership, changes the incentive structure, and fortifies the board, says markets February 27, 2018 Privatizing public sector Apropos Akash Prakash’s thought-provoking piece “PNB and the public sector banks” (Business Standard, February 27), let us concede that in India, since Nehruvian days, when ‘public sector’ commanded some respect, there has been a sponsored lobby out to annihilate public sector undertakings by any means available. We have witnessed the fall of institutions like UTI.  Methods used included creating legal hurdles in parity in functional matters with the private sector, ensuring weaknesses in top management by interference in top-level appointments and HR issues using Government’s ownership rights and sometimes by allowing infiltration of people of doubtful integrity at higher levels. As regards banking in India, as the source

Privatizing public sector

February 27, 2018 Privatizing public sector Apropos Akash Prakash’s thought-provoking piece “PNB and the public sector banks” (Business Standard, February 27), let us concede that in India, since Nehruvian days, when ‘public sector’ commanded some respect, there has been a sponsored lobby out to annihilate public sector undertakings by any means available. We have witnessed the fall of institutions like UTI.  Methods used included creating legal hurdles in parity in functional matters with the private sector, ensuring weaknesses in top management by interference in top-level appointments and HR issues using Government’s ownership rights and sometimes by allowing infiltration of people of doubtful integrity at higher levels. As regards banking in India, as the source of funds and the clientele served by the public sector and private sector banks are the same, there should not have been much difficulty in providing a level playing field for both categories of banks. But,

LoU demystified: Business Line

https://www.thehindubusinessline.com/opinion/columns/slate/all-you-wanted-to-know-about-letters-of-understanding/article22859794.ece Simple elucidation of complicated transactions M G Warrier

History of bank/banking failures

http://www.livemint.com/Sundayapp/fjheowjLjiFNsGcjzVZXsO/Banking-crises-An-Indian-history.html Interesting article M G Warrier

City of equals: An Auroville experiment

https://www.thehindubusinessline.com/blink/cover/fifty-shades-of-auroville/article22834272.ece An interesting experiment in community living in progress in Puduchery. The city belongs to humanity M G Warrier

Lodestar: Poem by Wilfrid Wilson

https://www.poetrynook.com/poem/lodestar Lodestar: A poem by Wilfrid Wilson M G Warrier

PNB SCAM : Tamal Bandopadhyaya

http://www.livemint.com/Opinion/oiMKS98wBunYNviWCVq6hJ/The-anatomy-of-the-PNB-fraud.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter This article gives some insight into the possible lapses in procedures which too might have contributed to the criminal loot of PNB's money M G Warrier

PNB scam: Sensationalizing crimes

Protect institutional integrity What is now commonly known as PNB scam is shaking people's confidence in the Indian Banking System, thanks to the media efforts to cash in on sensationalizing crimes. Communities world over have lived with certain levels of corruption and unethical practices across every stratum of hierarchies for ages. This observation is not meant to justify PNB scam. The emphasis is on the futility of expecting insulated compartments in sectors or organizations which will be immune from the ills prevailing in the society at a particular point of time. Having said that, let me recall a portion from a brief New Year Message circulated among his colleagues by RBI Governor Urjit Patel in January 2017. It reads: “….let me emphasize that one thing we should all zealously guard is the integrity and reputation of our organization and any act belittling the same should deserve zero tolerance from all of us…” PNB is the second largest public sector bank in Ind

Global Corruption Perception Index

http://www.livemint.com/Politics/5cvYn8GTxsik5xSwoN0DhK/India-ranks-81st-in-global-corruption-perception-index-by-Tr.html For the ground level story in India, read last chapter of my book India's Decade of Reforms Reserve Bank of India at Central Stage M G Warrier

Malegam Panel to report on SWIFT-RELATED irregularities and related issues

http://wap.business-standard.com/article/finance/pnb-crisis-rbi-s-malegam-led-panel-to-look-into-npa-divergence-bank-fraud-118022100028_1.html RBI's swift move on SWIFT-RELATED irregularities M G Warrier

India's Decade of Reforms Reserve Bank of India at Central Stage: Amazon.in

https://www.blogger.com/blogger.g?blogID=4925002465769202879#allposts My second book"India's Decade of Reforms: Reserve Bank of India at Central Stage" is now available for online purchase in prin edition and eBook version at all leading online stores including Notion Press, Amazon.in, Flipkart, Amazon.com etc M G Warrier

Priya Varrier: Windfall gain in Celebrity Capital?

https://www.thehindubusinessline.com/opinion/columns/the-cheat-sheet/priya-varrier-and-economics-of-social-media-stardom/article22818049.ece Priya Varrier: Windfall gain in Celebrity Capital M G Warrier

Listen, what happens if you can't hear!

http://www.thehindu.com/opinion/open-page/the-ear-as-a-diligent-unique-antenna/article22784741.ece/amp/ A mixture of medical facts and sound advice on sounds and hearing which sound so real. Humour is the മേൽപൊടി or icing which Dr Tiny Nair, who is a busy Cardiologist in real life, uses to make his advice acceptable. His book "Happy at Heart" contains many real life anecdotes which will make you sit back and think. M G Warrier

RBI destroying Indian Economy?: Wire

https://thewire.in/192754/rbi-economic-crisis-inflation-targeting/ My online comments published now M G Warrier

The Ksemakutuhalam: Medieval cooking

https://www.thehindubusinessline.com/blink/cover/cookbooks-the-medieval-editions/article22771412.ece Interesting article on Medieval cooking M G Warrier

Is He poor?: Faith column, The Hindu

http://www.thehindu.com/society/faith/vedas-praise-him/article22765166.ece Is He poor? M G Warrier

Chasing Inclusive Growth

http://www.thehindu.com/todays-paper/tp-opinion/The-road-to-inclusive-growth/article16514845.ece Chasing Inclusive Growth This is a 2009 article published in The Hindu M G Warrier

Modi's Pakora Metaphor

http://wap.business-standard.com/article/opinion/common-economics-letter-to-bs-on-narendra-modi-s-pakora-statement-118021201554_1.html

Shivaraathri on February 13, 2018

http://www.thehindu.com/society/faith/essence-of-saivism/article22723595.ece Shivaraathri on Tuesday February 13, 2018

India's Decade of Reforms: A review

 India’s Decade of Reforms: A Review Excerpts from a response received from Exrbites Group member Smt Vathsala Jayaraman based in Chennai “Being a science student, I had 'Nil' knowledge of Economics until I joined RBI and started reading for CAIIB exams. Really I had missed a lot in not taking Economics at the degree level. “India’s Decade of Reforms: Reserve Bank of India at Central Stage” is really a great book sharing the author’s views with a compilation of allied and opposite views from veterans in the field. Many of us think of Economics as an art of making choices-how much to spend on food, clothing, gas and education and housing. The six chapters are six jewels adorning the book. The first one naturally is about RBI which had 'Sahasra Chandra Darshan ' in 2015..The words 'Monetary Policies’, which had been Greek and Latin to me and sounded like mere jargons, had been made more fascinating and attractive and simpler from the pen of Shri Warrier.

Learning mountaineering lessons from an economist at the helm of IIMA

http://www.livemint.com/Sundayapp/tcrgnF6XNEAODWXHC7nPkK/Errol-DSouza--A-mountainclimbers-view-from-the-top-at-II.html?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter Learning mountaineering lessons from an economist M G Warrier

Options to de-stress public sector banks

Options to de-stress public sector banks : The degrees of freedom available for govt's arbitrary decisions are circumscribed by financial market dynamics...

RBI Monetary Policy: Usha Thorat in Business Line

http://www. thehindubusinessline.com/ opinion/rbi-rates-unchanged- markets-unmoved/ article22681224.ece The article takes a balanced view of Monetary Policy Stance M G Warrier

India's Decade of Reforms Reserve Bank of India at Central Stage published by Notion Press

https://notionpress.com/read/india-s-decade-of-reforms "India's Decade of Reforms Reserve Bank of India at Central Stage" By M G Warrier published by Notion Press is now available through Amazon and other outlets in US, UK and other countries M G Warrier, Mumbai

Bitten by the litigation bug

Bitten by the litigation bug : Courts have repeatedly denounced filing futile appeals by public authorities... February 7, 2018 Justice delayed This refers to M J Antony’s column captioned “Bitten by the litigation bug” (Out of Court, February 7). Going by media reports, recent years have seen Indian Judiciary, from Munsiff Court to the Supreme Court at the receiving end. Bench and the Bar together should share the major portion of the blame for the present pendency of millions of cases across the country. In these cases remain hidden the fate of lakhs of undertrials languishing in jails without getting an opportunity to be heard to thousands of pensioners dying every year whose claims for higher pension or even payment of pension remain tagged to undecided petitions before courts. When the rich and the powerful (includes governments) are on one side in a petition before the court decisions get delayed indefinitely when lawyers get a regular income and periodical posting

UNIVERSAL HEALTHCARE

http://www.thehindubusinessline.com/opinion/columns/finally-a-healthline-for-indias-poor/article22660796.ece  Excerpts: “ An insurance scheme that allows 50 crore people access to quality hospitals can work as a global model Imagine a hutment dweller on the roadside in possession of an Aadhaar card. The child is down with a very high fever or maybe the man has a cardiac arrest. In a panic, the wife does not beg for transport and rush the patient to the municipal hospital, where she would have to wade through officialdom to get the patient to share a bed in the ward —which has dirty sheets and houses a couple of street dogs. This is the situation in many a government hospital. Instead, she rings for an ambulance and gets one from Lilavati, Apollo, or Max Hospital. The patient is taken into an air-conditioned room and the operation is performed. Does this sound like fantasy?...” My VIEW: Universal Healthcare This refers to the piece "Finally, a Healthline for Ind

Boost non-tax revenue: Further fiscal slippage to dent Budget's credibility

Boost non-tax revenue: Further fiscal slippage to dent Budget's credibility : The latest slippage is all the more worrying because fiscal prudence had been one of the main achievements of this government... Asset monetization This refers to your editorial “Boost non-tax revenue” (Business Standard, February 5). The editorial sums up the ‘Do’s and Don’ts’ and possible future policy corrections GOI can keep in view as the discussion on the budget presented by Arun Jaitley on February 1 progresses in parliament. You have rightly pointed out the need for proper asset monetization to partly address resources problems of the government. There is no point in holding assets worth billions and getting a blame for the asset-liability mismatch in the budgets every year resulting in the country being seen in poor light by the outside world. One will never forget the situation in which gold was physically carried to UK for pledging to avoid a default. At this stage GOI should go o

Painting by Keshav, Remembering Krishna

http://kamadenu.blogspot.in/2018/02/raas-14b-watercolour-krishnafortoday.html?m=1

Crossword and caring: The Hindu Open Page article

http://www.thehindu.com/opinion/open-page/crossword-and-caring/article22646085.ece Crossword and caring: The Hindu Open Page article Many good things have roots in Chennai M G Warrier

Oil tanker with 22 Indians on board reported missing off West African coast

http://wap.business-standard.com/article/current-affairs/oil-tanker-with-22-indians-onboard-goes-missing-off-west-african-coast-mea-118020400026_1.html?utm_source=campaign_pn&utm_medium=push_notification&utm_campaign=browser_push&utm_content=&utm_term=

Ganga waterways: World Bank support

https://www.pressreader.com/india/business-standard/20180204/281543701370242 A welcome support from World Bank M G Warrier

A Budget that Cares for Healthcare

http://www.thehindubusinessline.com/opinion/finally-a-budget-that-prioritises-health/article22635827.ece Miles to go...To reach the objective of a reasonably acceptable Universal Healthcare M G Warrier

WEEKEND LIGHTER: GIFT A BOOK TO GenNext

WEEKEND LIGHTER: Gift a Book to GenNext (January 28-February 3, 2018) Life lesson: Article in The Hindu Open Page By M G Warrier: See Section III for link I-Cover Story ‘INDIA’S DECADE OF REFORMS Reserve Bank of India at Central Stage’ By M G Warrier My second book* ‘INDIA’S DECADE OF REFORMS Reserve Bank of India at Central Stage’ has been published by Notion Press, Chennai. Please access the following link for details: https://notionpress.com/read/india-s-decade-of-reforms Priced Rs 399 the book is available at Notion Press. If you buy the book, after reading, please gift it to your neighborhood library or someone who will read it, but can’t  afford to buy books. M G Warrier *Background: https://thewire.in/192754/rbi-economic-crisis-inflation-targeting/ This link will take you to an old article (October 2017). Articles like this @ wire.in  and many others in mainstream media written and published continuously during the last two yea

Vegetarian and "How I Became a Tree": BLink

http://www.thehindubusinessline.com/blink/explore/take-a-leaf-out-of-a-book/article22632742.ece "How I Became a Tree" and "Vegetarian" Interesting revelations M G Warrier

Rasa Leela: Painting by Keshav

http://kamadenu.blogspot.in/2018/01/yadavabhyudayam-14a-raas-leela.html?m=1 Open the link to enjoy Keshav's painting and read the brief note provided M G Warrier

Interpreting Kerala Budget 2018-19: Article by Megha Varier

https://www.thenewsminute.com/article/more-just-finance-kerala-fm-s-budget-speech-was-peppered-literary-references-75793 This article conveys what Dr Thomas Isaac wanted to convey in his budget speech on February 2, 2018

Artist Balan Nambiar

http://www.thehindu.com/entertainment/art/artist-balan-nambiars-retrospective-opens-in-bengaluru-on-sunday/article22622005.ece Cactus asserts its right to exist in the odd M G Warrier