Showing posts from November, 2018

Arvind Subramanian: Economics to Politics?

Arvind Subramanian: Economics to Politics? https://www. rbis-regulatory-failure- created-ilfs-mess-subramanian/ article25624128.ece Arvind Subramanian was reportedly aspiring to become RBI Governor in 2013 or near about. Those who read his book may find out if the author has made a mention of this... Now that he has left Economics and is into Politics, interesting times are ahead. Let’s enjoy watching the show. M G Warrier

National Herald: Weaves a story from Note (Refund) Rules!

National Herald: Weaves a story from Note (Refund) Rules! https://www. demonetisation-new-currency- notes-issued-in-2016-have- become-unusable-in-2-years Heard the name of this paper somewhere? Only heard, not seen...Ok... Please spare some time to understand how a story takes shape from a copy of "Note Refund Rules"... Great imagination... M G Warrier

Books published by M G Warrier during 2018: Six Titles, Ten Editions

BOOKS PUBLISHED BY M G WARRIER DURING 2018: UPDATE Six titles, Ten editions This month (November 2018) Notion Press, Chennai has published the Hardcover (revised) edition of my book "India's Decade of Reforms" which is available at online marketing outlets like, Flipkart etc besides with the publishers (Notion Press) This being the tenth edition this year, if all books published by me are included, a recap of the books authored by me available in print and/or eBook version will be in order: 1. India's Decade of Reforms (Hardcover edition) 2. India's Decade of Reforms (Paperback) 3. India's Decade of Reforms (eBook) 4. Chasing Inclusive Growth (eBook version of my 2014 book "Banking, Reforms and Corruption" published as print edition by Sampark, Kolkatta) Books published by Kindle Direct Publishing, 5. Ants and Honeybees (eBook) 6. Scrambled Monologues (eBook) 7. Scrambled Monologues (Paperback) 8. Sa

The relevance of Fire The relevance of Fire in Panchabhootha concept M G Warrier

Gossip unlimited This link is being shared with a purpose. This report was published by Firstpost some fifteen days back. This morning (November 27), a friend casually asked me whether there was any substance in the news that Raghuram Rajan is the PM candidate for Congress in 2019. I asked for the source. He simply said "WhatsApp" with the ease of saying "BBC" or "The Hindu" The search that followed took me to this fictitious story. Thought, why I should suffer alone! M G Warrier

Management of resources: Business Standard Avoid accounting jugglery M G Warrier

Kerala Model

Image The link takes one to some interesting thoughts on economic development, lifestyle, role of literacy in progress of society... M G Warrier

Sabarimala can be a case study

Sabarimala can be a case study M G Warrier Born in a remote village in Kerala during early 1940s as son of a Namboodiri (Brahmin) father and a Warrier (Shudra) mother I have lived through different cultures in several parts of India and had occasion to interact with people with varying views on God, religion, rituals, and rites. I myself got my caste from my mother because of my birth in a Kerala family. I would have been a Brahmin, if I was born in some other state in India, say Maharashtra as the child gets the caste and surname of the father in Maharashtra. The present controversy over Sabarimala can be a case study to understand the multiplicity of bondages among communities in Kerala and to research how superficial and selfish motives guide mob behavior. The present temple in Sabarimala was built by a Christian landlord, devotees of Lord Ayyappa (irrespective of their religion, caste or community) are “Ayyappaas” (The Tathwamasi concept is factored in, once a per

Professionalize boards of management  in  Why the RBI board needs to be recast Online comments posted by me:  Professionalization of boards of statutory bodies, PSUs and companies in the private sector should be encouraged. But that doesn't mean excluding all with business or industry relations in all part-time appointments. Boards have their own conventions and practices to minimize personal/private interests influencing policy decisions. We need expertise from various fieldstone guide decision making. It's unfortunate that the writer, though illustratively dragged in the name of Tatas to strengthen his argument. From Tatas to Infosys, many from Industrial Sector have contributed to RBI board deliberations in the past and didn't invite allegations about influencing central bank for their constituency gains. These observations

Sacred food: Karah prasaad A recipie for "prasaad" Worth trying one day. M G Warrier

Tulsi saved his life: Hindu Faith Column

Tulsi saved his life - The Hindu Advantage, leaves! M G Warrier

Book Review: Story of the Reserve Bank of India If the link opens, please read Shri PP Ramachandran's review of the recently published book on RBI M G Warrier

AVOID ACCOUNTING JUGGLERY: Business Standard com/article/opinion/letter-to- bs-govt-may-resort-to-tested- ways-to-contain-fiscal-gap- 118112500720_1.html Avoid accounting jugglery* This refers to “Govt may resort to tested ways to contain fiscal gap” (BUSINESS STANDARD, November 24/25). Admitting the report itself is speculative, one wonders why GOI should show such high level of diffidence when it comes to the fiscal deficit. The messy handling of nations resources gets reflected in Government Accounts and balance sheets of organizations owned or controlled by GOI. Last year (during the first Calendar quarter of 2018) GOI persuaded RBI to make an advance payment of a measly sum of Rs10k crore by RBI against surplus income transferrable after closing of RBI’s Accounts in June 2018. Institutions like LIC of India hesitate to introduce professionalism in fund management, as they do not know when a call will come for diverting a specified sum for deployment in one of

RBI and GOI: Give and take defused crisis

Give and take* Learning Board! This refers to your editorial “Give and take” (The Hindu, November 21). The RBI Central Board, so far debated the main issues on which differences of perception between the central bank and GOI  surfaced, for about 16 hours in two meetings. The board meeting on Monday, reportedly held in a cordial atmosphere, in a way borrowed time to understand the views of both GOI and RBI. The committee approach adopted need to be seen and welcomed in this perspective. Media has been debating the harm likely to be inflicted on the Indian Economy if GOI invokes Section 7 of the RBI Act, 1934 to ‘discipline’ RBI Governor Urjit Patel and his Team RBI. For now, one prefers to believe that the ‘confrontational’ approach attributed to GOI was a media creation because Sections 7, 8 and 58 of RBI Act are necessary and relevant in the management of RBI. These  Sections just ensure the fair and proper management of the Reserve Bank of India. Once the nomination to and s

RBI Central Board Meeting: Press Release

RBI Board Meeting on November 19, 2018: Press Release BS_PressReleaseDisplay.aspx? prid=45523 My response posted separately M G Warrier

Alyque Padamsee passes away at 90

Alyque Padamsee passes away at 90 obituary/alyque-padamsee-dies- at-90/article25528491.ece May Padamsee's soul RIP. Alyque Padamsee's Autobiography titled "A Double Life: My Exciting Years in Theater and Advertising" was published in 2000. M G Warrier

Mathrubhootham : The Hindu

Letter From A Concerned Reader: opinion/columns/sirmadam-new- jawa-motorcycle-is-coming-is- this-needed/article25525373. ece   Not one fellow has any new ideas, laments Mr. Mathrubootham - !dea... Dosa Kal by Apple!   M G Warrier   

Well Done, RBI : Professional handling of a delicate situation

Well Done, RBI For the last one month, the name of India's central bank was the single 3 letters used for the maximum number of times in print, electronic and social media. For all the wrong reasons. Like: 1) An assumed threat of Centre invoking Section 7 of RBI Act to discipline RBI 2) The possibility of Governor Urjit Patel and some of his 4 deputies resigning, if (1) materialized 3) Differences in policy perceptions (some real and some assumed) between GOI and RBI The RBI central board meeting became the talk of the town in the above context. The speculations continued until the release of a press statement after concluding the meeting, late in the evening on November 19, 2018. RBI handled the challenge professionally. Well Done, RBI! Raghuvir Srinivasan (The Hindu, November 20) has summed up the episode excellently well. I quote: “The Reserve Bank of India seems to have carried the day, after all, in Monday’s Marathon 9-hour meeting. Going by the brief sta

Management of Reserve Bank of India

Sections 7 and 8 of RBI Act, 1934 Media has been debating the harm likely to be inflicted on the Indian Economy if GOI invokes Section 7 of the RBI Act, 1934 to ‘discipline’ RBI Governor Urjit Patel and his Team RBI. We are told that when RBI Central Board meets on November 19, GOI nominees on RBI’s Central Board will plead Centre’s case for (a) relaxations in Prompt Corrective Action (PCA) norms in respect of PSBs, (b) deciding adequacy of reserves for RBI and (c) relaxation of regulatory norms to increase flow of credit to certain sectors among some twelve issues on which difference in perception exists between finance ministry and RBI. Looks very fair indeed. Section 7 of the RBI Act reads: Section 7. Management.- (1) The Central Government may from time to time give such directions to the Bank as it may, after consultation with the Governor of the Bank, consider necessary in the public interest. (2) Subject to any such directions, the general superintendence and directi

Let all be happy

Shloka – सर्वे भवन्तु सुखिनः सर्वे सन्तु निरामयाः | सर्वे भद्राणि पश्यन्तु , मा कश्चिद् दुःखभाग भवेत् | English Transliteration sarve bhavantu sukhinah sarve santu niramayaah sarve bhadrani pashyantu ma kaschid dukha bhag bhavet English Traslation May all be very happy and free from all diseases May all perceive goodness and none suffer from any grief. Aum! let there be peace, peace, peace Hindi Traslation सब लोग हमेशां प्रसन्न रहो , रोगों से मुक्त रहो , सभी में अच्छाई महेसूस करो और कभी भी कष्ट न भुगतो |


Jagannatha, Lord of The Universe. This is about Jagannatha, Lord of The Universe. For me, both the concepts are equally acceptable: "Master of The Universe" AND "Universe as My Master" In Sanskrit "Lokanatha", one who has Universe as his Master or one who is the Master of the Universe. M G Warrier

Well Done, RBI

Well Done, RBI This report was published in The Economic Times on October 15, 2018. I'll use the same caption for my Blog Post on November 20, 2018. M G Warrier Please see my Blog Post "GOI to face music from Mint Road and earlier posts December 18, 2018

For a world without diabetes

For a world without diabetes This article is different. Most of the literature we come across, on so called "lifestyle" diseases and sometimes even common cold can be classified as "sales promotion write-ups" This article helps us to think differently. M G Warrier

Protect RBI, to serve public interest

Protect Reserve Bank of India This refers to Debashis Basu’s article “The wider import of Viral Acharya’s speech” (Business Standard, Irrational Choice, November 12). This is not the first time that serious differences of perception have arisen about the RBI’s mandated role and responsibilities between RBI’s management and Finance Ministry have arisen. Whatever happens in the RBI Central board meeting on November 19, 2018, it is certain that RBI and MoF are not going to get insulated from future possibilities of policy-related differences of views on that day also. Sane celebrities like Dr Panagariya have already come out openly and suggested that GOI and RBI should ‘come together in the national interest’ which is a mature advice coming from a person who is aware of the goings on but has no mileage to make by taking sides, as of now. The present relationship issues between GoI and RBI are emanating essentially from disputes over the administration of financial sector regulat

My Grandma lives through her genes!

 Good news! Your comment has been approved on  in  Those ferocious genes that should ride on Excellent presentation. Humorous too. The title is somewhat technical and perhaps misleading. "My grandma will live through her genes!" is an alternative I can suggest. Expect more such pieces from writers like Divya who can talk about life in a detached mood. M G Warrier