Showing posts from June, 2019

Don't wait!

Don’t wait* Don’t wait for  someone  to complete you nor be a part of you. Don’t wait until someone comes in to fill your missing pieces. Don’t wait for your talents to be recognized by someone. Don’t wait till your beauty is admired by someone. Don’t wait for the appreciation or theapplauses from someone. Don’t wait for someone to wipe off your tears. Don’t wait for someone to pave you the way. Don’t plan your dreams to be fulfilled by someone, do not wait…. …the someone is you-YOURSELF! *Received from Vathsala Jayaraman via Exrbites Group mail on July 1, 2019

What ails Indian Civil Services?

What ails Indian Civil Services? No. This link doesn't give any negative signals about India's prestigious civil services. But there's something missing in the deployment of civil servants at all levels. Even in case of Anupama's leaving Trissur after a short tenure as District Collector the conspicuous absence of planning to ensure reasonably long tenure at such positions is evident. Top to bottom in services, one gets a feeling that political leadership is not comfortable with continuity of incumbency. Bureaucracy at the highest level and top managements of statutory bodies like RBI as also many PSUs including public sector banks are victims of this political maneuvering to destabilize managements. M G Warrier https://english.mathrubhumi. com/news/kerala/t-v-anupama- stepping-down-as-thrissur- collector--1.3907580

Civil Services & other Exams: Books

Civil Services and other Competitive Exams Those who are preparing for or guiding aspirants for Indian Civil Services, Bank Officers and other examinations may like to procure my books on banking and finance with focus on central banking. They include: India's Decade of Banking (2018) And Chasing Inclusive Growth (eBook version of Banking, Reforms & Corruption published in print in 2014) M G Warrier

There's something in a name!

Subject: The long and short of a desired name - There's something in every name! opinion/open-page/the-long- and-short-of-a-desired-name/ article28229767.ece A rose may be a rose... But, we humans, especially lose our names, once we come to Bombay. Find out how. M G Warrier

Protect RBI's 'capital'

Even central banks need ‘capital’ infusion - The Hindu opinion/lead/even-central- banks-need-capital-infusion/ e I've responded. My response will be posted here on July 1, 2019. M G Warrier M 134

RBI at crossroads?

In the context of the reported resignation of RBI deputy governor Viral Acharya, a cartoon in The Hindu recalled DeMon and the prematue exit of previous governor Urjit Patel suggesting that bereft of half the stripes, the tiger (Ref: RBI emblem) was half naked! A veteran ex-RBite lamented consecutive premature departure of renowned economists entrusted with management of India's Economy. M G Wa rrier's Media Response:                             June 25, 2019 RBI at crossroads? This refers to the piece “The plain-speaking outsider at RBI” by Anup Roy (Business Standard, June 25). Though there can be difference of views on scale, all along, those who occupied top positions in RBI, with the exception of a Chakravarty here or a Gandhi there, have risen to the responsibilities given to them and did not surrender their mind or freedom of expression for fear of North Block’s displeasure. Governors like Subbarao started speaking RBI language within months of their occupying

PGW undistilled: Life of a person who made life lighter

Subject: Wodehouse, undistilled - opinion/open-page/wodehouse- undistilled/article27951196. ece For me, who has not read PGW, this is revealing and rewarding... M G Warrier

Purity of thought

Subject: Striving for a pure mind: Will to change society/faith/strive-for-a- pure-mind/article28128493.ece Any time is good time to make a beginning. .M G Warrier

RBI's Viral Acharya may quit early : Media report news/eye-on-india/videos/ monetary-policy-rbi-deputy- governorviral-acharyas- parting-shot-4129441.html I've responded to a BS report on the subject today. Copied below: M G Wa rrier                                June 24, 2019 We need the RBI alive It  may be just coincidence that the news “Viral Acharya quits RBI” (June 24) becomes a headline on a day the first of the monthly column by former RBI governor Y V Reddy on “Whither central bank independence” gets published on another page in Business Standard. Time is running out and GOI has limited time left to save the image of RBI and send out a clear message that India’s central bank is not facing the threat of annihilation by vested interests. Unlike other organizations, continuity at the top is a must for central banks. The normalization of the abnormality of short-term tenures for governors and his deputies in RBI from the beginning of the current decade has affected the e

Communication skills: Start a conversation

Start a conversation - education/start-a- conversation/article28107676. ece Source: The Hindu

Life's a flicker between the darkness of womb and the darkness of tomb!

Birthdays are not special for everyone- What's life? http://www.newindianexpress. com/opinions/mindspace/2019/ jun/24/birthdays-are-not- special-for-everyone-1994429. html "Life is a flicker between the darkness of womb and the darkness of tomb" Must be a famous quote. But I'm reading it for the first time here.  M G Warrier

Why I'm happy and he's sad?

Recognising His greatness: Why I'm Happy and you're Sad, or vice versa? society/faith/recognising-his- greatness/article28118369.ece Why some are always happy? Why some others always search for reasons to remain unhappy? Ponder over and make your choice M G Warrier

Kerala honouring Gouri Amma: A symbolic expression of gratitude

The story of Gowri Amma: One of Kerala's tallest woman politicians turns 100 Every nation, organization, family will have stories to tell about contributions made by individuals who contributed to the position now being enjoyed. Gouri Amma is one such citizen in Kerala's history. In Kerala's development, the state has been fortunate to get leaders from every walk of life, from different economic stratas and all religions and communities who dedicated their lives for social and economic development when they lived. An illustrative list will include: Shankaracharya Narayana Guru Kelappaji Raja Ravi Varma Veluthampi Dalava Mannath Padmanabhan A K Gopalan V K Krishna Menon Pothen Joseph Joseph Mundasseri K Karunakaran V M Nair Melpathur Narayana Bhattathiripad Sanjayan Balamani Amma Kunjaali Marakkar Different Rajas of different times in Travancore, Kochi and Malabar areas E M S Namboothiripad V R Krishna Iyer Vaidyaratnam P S Warrier Several writers up

Mt Everest: A Photo Story

In the shadow of Everest: Remembering the conquest of Mt Everest lounge/features/in-the-shadow- of-everest-1561106899333.html Interesting article. About a Photo Story on Everest M G Warrier

Macroeconomic management

‘Below-target inflation, need for internal boost to demand led to a 25 bps rate cut': The Hindu Business Line https://www. money-and-banking/mpc-meet- economic-activity-clearly- losing-traction-says- shaktikanta-das/ article28087197.ece My response: June 21, 2019 Macroeconomic management This refers to the report “Below-target inflation, need for internal boost to demand led to a 25 bps rate cut” (The Hindu Business Line, June 21). Despite Deputy Governor Viral Acharya’s curt observation that ‘In spite of my dilemma, I vote-albeit with some hesitation- to front load the policy rate cut from 6 percent to 5.75 percent’, overall mood of the MPC is not apologetic about the cut and there seems to be no need for negativism on that count. Having said that, one would like to read more into Michael Patra’s following observation: “Monetary policy by itself cannot bring about a reinvigoration of economic activity. Monetary policy is taking the lead

Pending business before the Upper House news/politics/any-bill- pending-for-over-5-years-in- rajya-sabha-should-be- considered-lapsed-m-venkaiah- naidu-4123361.html Vice President has raised some valid fundamental issues. The position is not comfortable with judiciary (top to bottom) and other arms of governance. M G Warrier

K R Gouri Amma turns 100

Legendary Communist leader KR Gowri Amma turns 100 - India News india/story/legendary- communist-leader-kr-gowri- amma-turns-100-1553350-2019- 06-21 Gouri Amma was Revenue Minister in the first E M S Nambudiripad Ministry in Kerala (1957). M G Warrier

Yoga Day Special Article: The Hindu

Yoga — the ancient path of balance and integration - Yoga Day Special society/history-and-culture/ yoga-the-ancient-path-of- balance-and-integration/ article28085937.ece Yoga Day June 21, 2019 M G Warrier

International Yoga Day, June 21

Deathless Minds, Ageless Bodies article/yoga-deathless-minds- ageless-bodies June 21 is International Yoga Day M G Warrier

Of Ms Gandhi and Ms Sitharaman : Response to BS article

M G Wa rrier                               June 19, 2019 Sitharaman’s Maiden Budget This refers to A K Bhattacharya’s thought-provoking piece “Of Ms Gandhi and Ms Sitharaman (Business Standard, June 19). To the concluding question, “Could Sitharaman be expected to throw in more humour and wit during her budget speech?”, after going through some of the 15,000 plus suggestions from the citizens so far uploaded at the portal dedicated for the purpose, I have no hesitation in answering with a big “YES”. Though only 8 months will be left   in the current financial year after passing of this budget, Sitharaman’s Budget Speech on July 5 will be indicative of the fiscal policy that will evolve during the coming 5 years. Sitharaman is tasked with the responsibility of bringing clarity in government’s approach to resources management at a time when her own advisers may be speaking in divergent tones. The silver-lining is, as compared to 50 years ago, today India has a large domest

Nimiththamathram Bhava Savyasaachin

Bhagavad Gita As It Is, 11.33: The Universal Form, Text 33. I stumbled upon this stanza in Bhagavad-Gita today accidentally. I was reading Vathsala Madam's and Panchapakesan Sir's detailed comments* on "Maya", Universe, the concepts of matter, energy and "being" in a wider context. I just wanted to give a one line thanks note appreciating the comments and saying that I felt happy that I could become the "nimiththam" for the ongoing discussion on the subject. The thought of the word made me Google search for this stanza. Found the meaning and commentary here relevant in the context of the discussion on "Maya" M G Warrier *Copied below: Vathsala Jayaraman from Chennai observes: Maya and Physics Just two days back Shri Warrier has made a reference to Maya in one of his forwards on Faith Column of The Hindu. Maya is a word which is very familiar to us all, but very few know what it a

India on right track: Ease of doing business

View: India on right track to reach the top 50 in Ease of Doing Business Index - Reforms, an uphill task news/economy/policy/view- india-on-right-track-to-reach- the-top-50-in-ease-of-doing- business-index/articleshow/ 66537988.cms This is a November 2018 article.  Developments this year (2019) will decide whether India will move forward or stand still during 20's. Looks, we are on right track. M Damodaran said in 2013 that reforming the business environment has proved to be a Sisyphean construct that governments across the globe, including India, are rolling up the hill.(Quoted on page 12 of my 2014 book "Banking, Reforms & Corruption") M G Warrier

Trust in gold

India 10th among countries with gold as part of forex reserves: Business Standard report com/article/markets/rbi- enters-top-10-list-of-gold- holders-with-52-3-tonne- purchase-in-fy19-119060400706_ 1.htm My response June 17, 2019 Trust in gold This refers to the report “RBI joins peers to buy gold insurance” (June 17). While it is comforting to see that RBI is augmenting the gold component in India’s foreign exchange reserves, efforts to account and mainstream the country’s domestic gold stock is not moving fast. There is urgency in doing this as the measure will bring down the need to import gold which is a drain on our precious forex reserves. According to media reports, recently Guruvayur temple (Kerala) decided to deposit 350 kg out of its gold stock with State Bank of India which deposit will earn 8.75 kg gold per annum as interest for the temple. Surprisingly, the gold will have to be transported all the way to Mumbai for refining 

Soliloquy of a lazy coffee lover

A cup of coffee or a jar of thoughts - An interesting soliloquy... opinion/open-page/a-cup-of- coffee-or-a-jar-of-thoughts/ article27951169.ece If you read till the end, I bet, you have nothing much to do! M G Warrier

Amitav Ghosh speaks about "Gun Island"

 Mini Kapoor interviews Jnanpith awardee Amitav Ghosh on his new novel, Gun Island - books/books-authors/interview- with-jnanpith-awardee-amitav- ghosh-on-his-new-novel-gun- island/article27917414.ece "All my obsessions and passions found their way into the book": Amitav Ghosh What more an author can aspire for? M G Warrier

IIMA News covers a BS response media/news#/post/letter-to-bs- professor-pranabs-debut-at- iim-a-a-refreshing-change-669 IIMA News covered my BS response in September 2018 M G Warrier

Recent Media Responses: M G Warrier

Recent Media Responses (May-June, 2019) 1 Final diagnosis This refers to the report “Govt must provide capital to the banks on upfront basis: United bank CEO” (Business Line, June 15). It is comforting that since 2016, GOI and RBI have been handling the health issues of the financial sector with all the seriousness they deserve. The problems have aggravated and solution lies in overhauling the system equipping it to meet the expectations of all stakeholders. From restoring the trust of savers to ensuring uninterrupted credit flow at reasonable cost to all sectors of economy across urban and rural areas, the task before the system is multi-dimensional.   Political leadership is responsible for converting banks as agents for implementing popular schemes irrespective of their feasibility and viability and luring industrialists with soft credit. The institutional system including the supervisors and regulators also need to share the blame for the laxity in appraisal of l