Warrier's blog

https://www.thehindu.com/opinion/open-page/the-belief-system-and-some-truths/article24300569.ece

https://www.thehindu.com/opinion/open-page/a-near-miss-like-many-others-in-the-air/article24241112.ece

https://www.thehindubusinessline.com/blink/read/for-a-room-of-ones-own/article24288298.ece Do not surrender your space M G Warrier

https://www.thehindubusinessline.com/blink/cover/in-the-public-eye/article24288197.ece

WARRIER’S BLOG, JUNE 16-30, 2018 : Diagnosis and Cure I Diagnosis and cure This refers to your editorial “From bad to worse” (Business Standard, June 28) calling for market-based solutions for NPA crisis. This is a timely caution to wake up all stakeholders from slumber induced by the reassurances from the owner of PSBs (GOI) that depositors’ interests are safe in banks. Having said that, the possible scare in the public mind emanating from the analyses of data on banks’ stressed assets and NPAs, magnified by the ‘flashes’ about scams should not get blown up out of proportion. Such a situation can adversely affect the already impaired health of the financial system. Here, a couple of observations made by former RBI Governor Dr Y V Reddy in a recent speech in Kolhapur are relevant. I quote: “…The Non Performing Assets in 1996-97  were 17.8 percent of gross advances and 9.2 percent of Net Advances. These ratios are much higher than what is prevailing today at 11....

https://www.business-standard.com/article/finance/irdai-permits-lic-to-pick-up-to-51-stake-in-debt-ridden-idbi-bank-118062900899_1.html?utm_source=campaign_pn&utm_medium=push_notification&utm_campaign=browser_push&utm_content=&utm_term=&time=1530280683

https://www.frontline.in/books/article24200703.ece

https://www.thehindu.com/todays-paper/tp-national/tp-kerala/makeover-for-a-family-health-centre/article24275523.ece

https://wap.business-standard.com/article/opinion/from-bad-to-worse-118062800039_1.html Diagnosis and cure This refers to your editorial “From bad to worse” (Business Standard, June 28) calling for market-based solutions for NPA crisis. This is a timely caution to wake up all stakeholders from slumber induced by the reassurances from the owner of PSBs (GOI) that depositors’ interests are safe in banks. Having said that, the possible scare in the public mind emanating from the analyses of data on banks’ stressed assets and NPAs, magnified by the ‘flashes’ about scams should not get blown up out of proportion. Such a situation can adversely affect the already impaired health of the financial system. Here, a couple of observations made by former RBI Governor Dr Y V Reddy in a recent speech in Kolhapur are relevant. I quote: “…The Non Performing Assets in 1996-97  were 17.8 percent of gross advances and 9.2 percent of Net Advances. These ratios are much higher than wha...

https://www.thehindubusinessline.com/money-and-banking/more-than-a-fifth-of-all-public-sector-bank-loans-can-go-bad-warns-rbi/article24264845.ece

http://www.thehindu.com/opinion/open-page/marriage-material-or-not/article23865658.ece

https://wap.business-standard.com/article/opinion/leave-lic-alone-118062501255_1.html Infuse professionalism There's nothing wrong in LIC investing in IDBI Bank's equity. Any investment decision by LIC should be guided by the insurer's responsibility to the policyholders as LIC acts as a "Trustee" for their savings. LIC's investment decisions should not be under pressure from GOI. Government should insulate LIC's investment for public causes by appropriate guarantees/incentives. M G Warrier Mumbai

https://www.speakingtree.in/article/mental-health-is-crucial-to-wellbeing Mental health is equally or mor important as physical health. Sri Sri Ravi Shankar explains mental hygiene This article was published in Speaking Tree on April 7, 2015 M G Warrier Mumbai

https://www.livemint.com/ Companies/ cQj2RDDttnvYAL9WMvzcnK/Air- India-in-need-of-a-complete- overhaul-to-stay-relevant-s. html Revamp Air India This refers to the report “Air India unveils revamp plan after privatization setback” (Business Line, June 23).  Air India is facing problems similar to the challenges now being faced by Public Sector Banks in India. Let's not count the similarities in challenges. The Indian mindset of procrastinating problems and transferring ownership when things go wrong need to change. This is the residual from the management strategy the British taught the then bureaucracy (read Indian Civil Services) to push up or push down, and now sideways (!) tough issues needing unpopular decisions, to evade responsibility. Air India’s problems are genetic in certain respects and emanating from mismanagement if one looks from a pure business angle. At least at this late hour, GOI may consider a comprehensive revamp of Air India with ‘Indianization’ and...

http://www.thehindu.com/opinion/open-page/make-the-twilight-years-meaningful/article24181424.ece At different stages in life, perspectives keep changing. This article is the views of the writer who is nearing retirement. The stage in life covered is the immediate healthy, happy, active decade. M G Warrier Mumbai

https://m.timesofindia.com/city/thiruvananthapuram/Warrier-becomes-a-clerk-at-54-beating-myopia-and-red-tape/amp_articleshow/11054845.cms

https://www.thehindubusinessline.com/blink/read/underbelly-of-the-upper-crust/article24230311.ece

https://www.moneylife.in/article/people-love-to-be-angry-these-days-the-funny-side/54430.html?utm_source=PoweRelayEDM&utm_medium=Email&utm_content=Subscriber%23100795&utm_campaign=Daily%20Newsletter%2022%20June%202018 Angry persons may cool down first and then open the link M G Warrier Thiruvananthapuram

https://www.moneylife.in/article/introduction-of-contributory-pension-scheme-in-kerala/30913.html Kerala Government is reviewing NPS introduced in 2013 by UDF Government under pressure. This article published in 2013 gives the background M G Warrier Thiruvananthapuram

https://kamadenu.blogspot.com/2018/06/new-forever_22.html?m=1 Visit kamadenu when free. Keshav from The Hindu posts a different interpretation of Krishna almost daily! M G Warrier Thiruvananthapuram

https://www.thehindubusinessline.com/opinion/this-battle-will-go-on/article24222508.ece This battle will go on Warriors, their slogans and attires will keep changing M G Warrier Thiruvananthapuram

Premature departures One more eminent economist has found India unworthy for permanent mid-career settlement. Arvind Subramanian is returning "home" cutting short his contracted tenure as CEA by few months. He has done the right thing. When personal/family priorities demand it should be a personal decision about career. Timing is welcome, if he has no extended stay in mind, because GOI will get some breathing time to decide on the new incumbent who will finalize next Economic Survey due to be released in February 19. Media gossips connecting non-renewal of Dr Raghuram Rajan's contract after his sanctioned leave from Booth University expired or exit of other imported celebrities talk volumes about our willingness to consider long-term deployment of talent offering market terms. Professionals look at "packages" and the benefits from assignments for their future career. M G Warrier Thiruvananthapuram

http://www.thehindu.com/todays-paper/tp-opinion/mums-not-the-only-word/article24183498.ece A doctor in US trains expectant fathers to meet the challenges of parenting M G Warrier Thiruvananthapuram

https://www.thehindubusinessline.com/money-and-banking/md-mallya-seen-as-top-contender-for-icici-bank-chairmans-post/article24203713.ece MD Mallya to head ICICI Bank? M G Warrier Thiruvananthapuram

Public money 100% safe in state-run banks: Goyal : Public money is 'hundred percent safe' in state-run banks, Interim Finance Minister Piyush Goyal said on Tuesday, allaying apprehensions in the wake of recent major scams unearthed in public sector banks (PSBs)... June 20, 2018 Emerging consensus This refers to the letter captioned “Morale booster” from V Jayaraman, Chennai (Business Standard, June 20) which inter alia seeks a reassurance from RBI that bank deposits are safe. There is no denying that Indian Financial Sector is going through a rejuvenation process which has brought to surface several weaknesses that existed for long, but did not attract public attention. The plea for a reassurance from RBI about the safety of moneys with the banking system shows that public still trusts the banking regulator. Three reports in today’s newspapers, while giving some relief to the bank depositors, seek speedier and coordinated action from law makers and regulators including RBI an...

http://www.thehindu.com/todays-paper/tp-life/rare-spider-found-again-after-150-years/article24205345.ece Interesting scientific research M G Warrier Thiruvananthapuram

http://www.thehindu.com/society/faith/no-qualifications-needed/article24194398.ece Understanding the realities of Universe/Existence M G Warrier Thiruvananthapuram

http://www.thehindu.com/society/faith/ideal-administration/article24187119.ece Interesting thoughts M G Warrier Thiruvananthapuram

https://airiefvision.wordpress.com/2015/09/30/general-reflections-on-society/amp/ If the link opens... M G Warrier Thiruvananthapuram

https://googleweblight.com/i?u=https://premium.thehindubusinessline.com/portfolio/macro-view/why-urjit-patel-is-anxious-about-fed-tightening/article24186515.ece&hl=en-IN SK Lokeshwarri analyses Urjit Patel's Financial Times article on Fed Reserve's financial tightening programme M G Warrier Thiruvananthapuram

https://www.narendramodi.in/pm-s-opening-remarks-at-fourth-meeting-of-governing-council-of-niti-aayog-540488 We need to make NITI Aayog more effective... M G Warrier Thiruvananthapuram

http://www.thehindu.com/opinion/open-page/make-the-twilight-years-meaningful/article24181424.ece Each individual has to plan his/her postretpost-ret life taking into account factors relevant to him/her. No textbook model will work. M G Warrier Thiruvananthapuram

http://www.thehindu.com/opinion/open-page/the-inevitable-kerb-side-consultation/article24181389.ece You will enjoy reading this article by Dr Tiny Nair author of the book "HAPPY AT HEART" M G Warrier Thiruvananthapuram

https://www.business-standard.com/article/current-affairs/first-international-yoga-day-event-held-at-beijing-sco-headquarters-today-118061600304_1.html?utm_source=campaign_pn&utm_medium=push_notification&utm_campaign=browser_push&utm_content=&utm_term=&time=1529146382

https://www.thehindubusinessline.com/blink/takeaway/single-mother-solitude/article24112271.ece

https://wap.business-standard.com/article/opinion/governor-is-right-rbi-should-not-have-nominees-on-psb-boards-118061401378_1.html Also read my letter published in Business Standard on June 14, 2018. M G Warrier Thiruvananthapuram

Warrier’s Blog, June 1-15, 2018 : Right Questions Right questions This refers to the report “RBI needs more powers to oversee PSBs” (Business Standard/Business Line, June 13). Media reports would give an impression that the constraints in disciplining Public Sector Banks (PSBs) are the invention by the present RBI governor Urjit Patel sometime in August 2017 prior to  his August 14, 2017 Ahmedabad speech. Those who are new to the subject may access the report of the “Committee on the Financial System” (CFS : First Narasimham Committee, 1991) which has made several recommendations about management of PSBs including handling of stressed assets. Since late 1990’s finance ministry perfected the art of silencing RBI and went ahead with its agenda to use PSBs as a tool for resources mobilization and deployment claiming ownership rights on PSBs and even RBI. When things became unmanageably bad, everyone is trying to find a scapegoat in RBI. This is not to belittle the good w...

Letter to BS:How poor coordination between MoF, RBI creates banking chaos : Ongoing coordination in the perception of problems and finding solutions among the three is the only remedy for avoiding repetition of the present chaos... Submitted version of the letter is also copied below: June 13, 2018 Right questions  Media reports would give an impression that the constraints in disciplining Public Sector Banks (PSBs) are the invention by the present RBI governor Urjit Patel sometime in August 2017 prior to  his August 14, 2017 Ahmedabad speech. Those who are new to the subject may access the report of the “Committee on the Financial System” (CFS : First Narasimham Committee, 1991) which has made several recommendations about management of PSBs including handling of stressed assets. Since late 1990’s finance ministry perfected the art of silencing RBI and went ahead with its agenda to use PSBs as a tool for resources mobilization and deployment claiming ownership rights on P...

RBI needs more powers to oversee public sector banks: Urjit Patel to panel : Sources said the governor assured the members that steps were being taken to strengthen the system... Right questions  Media reports would give an impression that the constraints in disciplining Public Sector Banks (PSBs) are the invention by the present RBI governor Urjit Patel sometime in August 2017 prior to his August 14, 2017 Ahmedabad speech. Those who are new to the subject may access the report of the “Committee on the Financial System” (CFS: First Narasimham Committee, 1991) which has made several recommendations about management of PSBs including handling of stressed assets. Since late 1990’s finance ministry perfected the art of silencing RBI and went ahead with its agenda to use PSBs as a tool for resources mobilization and deployment claiming ownership rights on PSBs and even RBI. When things became unmanageably bad, everyone is trying to find a scapegoat in RBI. This is not to belittle the ...

http://www.thehindu.com/features/metroplus/society/dr-tiny-nairs-guide-to-being-happy/article7557524.ece Dr Tiny Nair is a renowned Cardiologist based in Thiruvananthapuram. In addition to books on medicine/science he has a flare for poetry and fiction. M G Warrier Thiruvananthapuram

http://www.thehindu.com/business/Industry/reddy-flays-govt-over-fraud-at-pnb/article24130316.ece The text of Dr Reddy's Kolhapur speech is with me. The message he gave to the audience is different. M G Warrier Thiruvananthapuram

https://www.business-standard.com/article/finance/reserve-bank-of-india-to-tighten-norms-for-working-capital-limits-118061200057_1.html New norms from RBI for Working Capital Finance M G Warrier Thiruvananthapuram

https://www.thehindubusinessline.com/economy/90000-face-the-music-for-not-filing-tax-returns/article24138298.ece DeMon impact M G Warrier Thiruvananthapuram

https://www.thehindubusinessline.com/opinion/editorial/professionalising-governance/article24137455.ece

https://www.business-standard.com/article/opinion/letter-to-bs-lateral-hiring-in-govt-is-a-positive-move-118061101303_1.html Also read TR Ramaswamy's response M G Warrier Thiruvananthapuram

http://kamadenu.blogspot.com/2018/06/new-forever.html?m=1 Keshav's Paintings M G Warrier Thiruvananthapuram

https://www.business-standard.com/article/current-affairs/why-this-77-year-old-ex-sc-judge-is-making-google-amazon-facebook-jittery-118061100218_1.html?utm_source=campaign_pn&utm_medium=push_notification&utm_campaign=browser_push&utm_content=&utm_term=&time=1528698183 Cyber security Srikrishna takes a new Avtar M G Warrier Thiruvananthapuram

Govt takes first step on lateral hiring, officers get into a huddle : The Centre has announced its intention to hire domain experts and professionals at the level of joint secretary... June 11, 2018 Advantage, PPP! This refers to the report “Centre takes the first step on lateral hiring, officers upset” (Business Standard, June 11). The move is a positive one and it is unfortunate that there is going to be efforts from some quarters, to scuttle it. This initiative should be seen in its right perspective without attributing extraneous motives. Public Sector-Private Sector-Partnership and smooth inter-sectoral mobility of resources including talent are essential for taking the country's development agenda forward. The selection of just ten disciplines and proposal to recruit just one each at JS level initially talks volumes about the cautious approach of GOI while handling a sensitive subject. Though initial recruitment is on contract basis (3 to 5 years), as GOI is...

https://www.business-standard.com/article/current-affairs/citizen-mukherjee-s-nagpur-speech-makes-everyone-a-winner-for-now-118060900920_1.html?utm_source=campaign_pn&utm_medium=push_notification&utm_campaign=browser_push&utm_content=&utm_term=&time=1528600082 Please also see earlier post on the subject M G Warrier Thiruvananthapuram

http://www.thehindu.com/opinion/open-page/the-use-misuse-and-abuse-of-the-mobile-phone/article2745143.ece M G Warrier Thiruvananthapuram

https://www.speakingtree.in/article/looking-for-mental-peace Deepak Chopra in his editorial in Speaking Tree explains how an agitated mind can be persuaded to take rest. M G Warrier

http://www.thehindu.com/society/faith/gajendras-distress-call/article24117615.ece Lessons from Gajendramoksham

https://www.business-standard.com/article/finance/bad-bank-back-on-table-piyush-goyal-says-panel-will-decide-on-arcs-118060801341_1.html 'Bad Bank's is a bad idea. I've responded through a letter M G Warrier Thiruvananthapuram

Letter to BS: Repo rate increase by 25 bps signals RBI's intent : This time around, the welcome change is, RBI chose to explain what MPC meant by saying 'the hike in base rate was consistent with neutral stance'... This refers to the report “Rate hike cycle is back” and your editorial “All options open” (June 7). The second bi-monthly monetary policy statement issued by the Monetary Policy Committee (MPC) after a three-day sitting, as expected, attracted media attention for the hike in base rate. On the other hand, the ‘Statement on Developmental and Regulatory Policies’ which claims to set out various developmental and regulatory policy measures for strengthening regulation and supervision; broadening and deepening financial markets; improving currency and debt management; fostering innovation in payment and settlement system; and, facilitating data management released independent of the monetary policy statement didn’t get adequate media space. One feels that impo...

https://wap.business-standard.com/article/opinion/letter-to-bs-repo-rate-increase-by-25-bps-signals-rbi-s-intent-118060701464_1.html Monetary Policy announcement is seen as a base rate announcement alone, not giving much importance to several other regulatory and supervisory initiatives simultaneously by rbi M G Warrier Thiruvananthapuram

https://www.livemint.com/Politics/fuHapzo3r4LMWpNjx2XVoN/Pranab-Mukherjee-RSS-speech-Intolerance-will-dilute-Indias.html Former President Pranab Mukherjee's address in Nagpur on June 7, 2018 M G Warrier Thiruvananthapuram

https://www.business-standard.com/article/finance/rbi-increases-repo-rate-by-25-bps-to-6-25-maintains-neutral-stance-118060700027_1.html

The Global ANALYST, June 2018 Public Sector Banks: Readying to meet new challenges M G Warrier “ The 1980s and early 1990s were a period of great stress and turmoil for banks and financial institutions all over the globe, viz. Brazil, Chile, Indonesia, Mexico, several Nordic countries, Venezuela and USA, etc. In USA, more than 1600 commercial and savings banks insured by the Federal Deposit Insurance Corporation (FDIC) were either closed or given FDIC financial assistance during this period. More than 900 Savings and Loan Associations were closed or merged with assistance from Federal Savings and Loan Insurance Corporation (FSLIC) during 1983 to 1990. The cumulative losses incurred by the failed institutions exceeded US $ 100 billion. These losses resulted in the insolvency and closure of FSLIC and its replacement by the Resolution Trust Corporation (RTC) and the Savings Association Insurance Fund (SAIF)…” Quoted above are the opening sentences from a discussion paper on “...

https://www.thehindubusinessline.com/opinion/a-stitch-in-time-saves-nineep/article24097249.ece June 7, 2018 Monetary Policy objectives Your editorial “Along expected lines” read with the three articles by Usha Thorat, Shanti Ekambaram and Himadri Bhattacharya (Business Line, June 7) educate the common man about the purport of the RBI’s second bimonthly monetary policy statement issued after a three day sitting of Monetary Policy Committee (MPC). By tradition, RBI’s monetary policy documents have the look of research documents (no denying that they are backed by a great amount of research work) and beyond base rate changes and their impact on prices including bank interest rates, discussions in the media do not go much further. This time around, the welcome change is, RBI chose to explain what MPC meant by saying ‘the hike in base rate was consistent with neutral stance’. As mentioned by Usha Thorat, the lay and the cognoscenti will debate this statement in the coming days. ...