Warrier's Collage November 25, 2020

Welcome to Warrier's Daily COLLAGE November 25, 2020 Wednesday 🙏 Posted by: M G Warrier A Quotes* for the day: "Intelligence is Divine....Rig Veda Not to be misused with negativity...in thinking...." -Excerpted from a Reader's Message "The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt." -Bertrand Russel *More Quotes on intelligence and stupidity @ G BB A correction K R Krishnakumar I have gone through the weblink relating to Dr Anand Narayanan. I could not view the programme aired in Doordarshan in 2014. Anand is basically an Engineer who later on branched out to Astrophysics. Great achievement of a young scientist . I understand that currently he teaches in Indian Institute of Spacescience and Technology. Wish him success in all his endeavours. (The 2014 award-winning DD program in Malayalam was "Akalangalile Prapancham". Writing from memory, I wrote "Aakasam" for "Prapancham". Sorry for this. Link to one presentation is: https://youtu.be/inyO8ryULIU) B Interaction 1) PKK Nair Bangalore It is with great interest and curiosity that I watched the presentation by Dr Anand Narayanan on ‘Cosmic Perspective: Where Science, Spirituality and the Expanding Universe merge.’ It was a wonderful experience for me to have listened to such a brilliant and scholarly narrative of an unknown cosmos wherein all of us are living!! I had some generic idea about our universe, but today I understood the vastness of the ever expanding and unfathomable universe! My belief was that this universe is the only one and forms a part of the Milky Way! Only spiritually well-versed can tell us the origin of and other aspects of the universe! I am totally impressed by the Dr Anand Narayanan’s presentation! I also thank you very much for forwarding the extensive and detailed account of the Universe by Dr Anand Narayanan! May we expect links to such discourses from Collage again? (Thanks. The commitment to one's profession and hard work together with talent make individuals like Anand. One wishes and prays🙏 society and media recognise their skills and help them reach out where they can expand their activities for the benefit of more and more people-Collage) 2) CV Subbaraman Mysuru I have from boyhood held that Wordsworth is ONE man whose words are all worth(y). His parents named him appropriately. I went through the quotable quotes from his pen. At the end of page 1, I found the box "next" and 19 more to follow! Will it result in indigestion if taken in one stretch? Better phase it, one page every day and hence given a pause till later either in the evening or next morning for page 2....... Subbaraman 3) C A Jacob Bangalore The daily dose of Collage is exciting and often provides deep insight to complex issues. I have a fleeting thought that too many https dampens the flow of enjoyable reading. (Inspired by multiple expectations, on some days, Collage becomes a Khichdi. Recently, book-marketing efforts made it worse. Number of Links reduced today 🙏) C Bank Licencing https://www.thehindubusinessline.com/money-and-banking/raghuram-rajan-viral-acharya-slam-rbi-panels-suggestion-to-allow-corporates-in-banking/article33161398.ece?utm_source=email&utm_medium=Email&utm_campaign=Newsletter Posted online comments*: *Letter published in the print edition of The Hindu Business Line dated November 25, 2020: Ground realities ignored ? With reference to the report ‘Raghuram Rajan, Viral Acharya slam RBI panel’s suggestion to allow corporates in banking’ (November 24), both the economists have played a big role in the evolution of RBI’s present modern and professional approach. Since its inception, unlike the central banks elsewhere, the RBI has played a major role in institution-building in the financial sector in India. The observers are justified in feeling that the government has been over-exploiting the RBI and the Institutional System in the financial sector for implementing its political agenda. The criticism against the RBI’s latest initiative to bring a portion of the monetary resources presently outside the direct supervision of the regulatory authority needs to be viewed in the above perspective. It is unfortunate that Raghuram Rajan and Acharya are pretending ignorance of the real ground realities in India which they had opportunity to perceive from close quarters. MG Warrier Mumbai D Books by M G Warrier 1) India's Decade of Reforms India's Financial Sector Reforms: A position Paper Reviewed in India on 26 March 2018 (@ Amazon.in) by Samir Biswas It is my immense pleasure in writing a review of the book, India's Decade of Reforms: Reserve Bank of India at Central Stage authored by Shri M G Warrier. Before writing the review I would like to inform the readers that a lady of 74 years from Chennai completed the reading at one go as she found the book very interesting and worth reading. I fully endorse her views.Shri Warrier during the tenure of service for a period of more than three and a half decades in the Reserve Bank of India (Bank), travelled in most important areas of monetary and banking policies for which the Bank is responsible. His quest to learn to love and go into the depth of the functioning of the Bank saw him retire as a General Manager. Post-retirement, he started writing in various economic journals and magazines. His first book 'Banking Reforms & Corruption: Development Issues in 21st Century India' was published in 2014. The eminent economist, S S Tarapore and Ms. Usha Thorat former Deputy Governor of the Bank highly appreciated Warrier's work. The present book authored by him and published by Notion Press, Chennai in 2018, I do believe, will be highly appreciated by all who are really interested in knowing more about the present status of monetary policy implementation, developments in the financial sector and frequently debated relationship issues between the Bank and GOI. The book contains six sections and covers developments from Hilton Young Commission appointed in 1925, Formative Years- The Gold Standard and RBI Bill 1927 and slowly but effectively gave birth the Reserve Bank of India Act 1934. And finally, the Reserve Bank of India came into existence on 1st April 1935. The author takes us through the role played by the Bank in developing monetary policy and evolving a strong and secure banking system in India from 1935 to date. Shri Warrier appreciates the contribution of Dr. Raghuram Rajan during the crucial period in the history of the Bank. The author gives a balanced view on Demonetisation and its aftermath. He appreciated the hardship of common people but avers that Indian Banking System is Safe, Secure and Trustworthy. Shri Warrier supports the merger of financially weak banks with the financially strong banks, both in public and private sectors to protect the interest of depositors and more importantly to sustain economic growth and stability of the nation. The readers may get an insight into the stressed assets of banks and how to address these problems. The author has welcomed the GOI support through legislation to impart more power to the Bank to address the stressed Assets issue to restore the health of the financial system. If the banking system has stressed assets crossing tolerance levels, mismanagement of corporate sector and other entities who are trying to get away with the money and maligning the Bank, regulator, supervisor of banks also need to be disciplined. The author has thrown light on gold management by public sector banks and need to map domestic gold stock. He has suggested that the Bank should take up this issue with the Government and make them understand the importance of yellow treasures lying idle in the country. And there is a need to establish a Gold Bank. The proposal to accept the Universal Basic Minimum Income should be considered by the Government. The author has spoken against waiver of the agricultural loan and suggested that the Government should think of joint farming to reduce the cost of production. Imposing of tax on affluent farmers may also be considered by the Government. To move forward in the field of agriculture, the author has suggested comprehensive farming plan linking electricity, water, transport and ensuring pricing and crop insurance. The lending banks also watch on the disbursement and recovery of loans and if necessary subsidy should be introduced when really needed. I fully endorse the views expressed by the author. National Pension System (NPS) was introduced by a simple notification by the Government in December 2003 and that was not backed by any legislation. In fact, it was born with a congenital deformity. And even after 15 years, the problem could not be sorted out and the NPS is still in a volatile stage. The role of auditors in the Indian context has been highly appreciated by the author. It is worth mentioning that almost all financial transactions including Govt, banks and all registered institutions are covered under the audit. He has rightly suggested that the Central and State Governments should join hands with CAG and take necessary action to rectify and also take action against those who are following corrupt practices. I appreciate the author for writing a chapter on Tourism. Someone might think in a different way. I may be permitted to tell them that the book, India's Decade of Reforms..... mostly related to banking and monetary aspects and role of the Bank and Govt to strengthen the system to financially to improve the quality of life of each and every citizen of the nation. If that is so, tourism is one of the main branches from where the States of India have enough opportunity to earn money. In India, we have beautiful places in high altitude and plain land and those can be compared with the tourist spots of any developed countries. We only need to develop infrastructures to attract tourists not only from other States but from foreign countries. If it is developed, the local economy is sure to improve. In conclusion, the author has hoped that the fourth pillar of democracy, the people, should play a vital role to fight corruption. He has pointed out some measures how to get the country free from corruption. In the present scenario, the corrupt politicians are making the fourth pillar of democracy, the people, corrupt. There is no job for the commoners, how they will lead a life? The nexus between the corrupt politicians and dishonest rich men is substantially growing. They are utilising money and power to attract the youths and selecting the candidate for Assembly and or Parliament to get benefit in future. They are buying votes by money and power. And in the process, they are making the fourth pillar of democracy corrupt and weak. We can only hope and pray to the Almighty God that good sense should prevail on the people to fight corruption. (Samir Biswas reviewed my book in March 2018. Shared the review now because in the presence tp my new book I've said it's a companion volume of India's Decade of Reforms. Amazon link to the 2018 book given below- Warrier) India's Decade of Reforms: Reserve Bank of India at Central Stage https://www.amazon.in/dp/1644299623/ref=cm_sw_r_em_apa_fabc_QnoVFbBZNFH1H 2) Restoring TRUST in Governance R Narayanan Thiruvananthapuram I have completed reading the latest book by M.G.Warrier, titled "Restoring TRUST in Goverence: India's 2020's Challenge". He has divided the book in three parts, covering full details and developments of the topics in each section. He has taken lot of efforts to gather information from various reliable sources which are very much relevant to the topics he covered in the book. The book will be very useful to the bankers, economists and students pursuing studies on Indian banking and other financial sectors. One will get a fairly good idea and grasp of the various aspects of the Central Bank's Monetary Policy and its impact on the economy. Excerpts from the speeches of some of the RBI Governors have been included in the book, which were found to be very useful . I take this opportunity to congratulate Shri Warrier and also thank him for bringing out this book. R.NARAYANAN (Thanks, Narayanan. You are, as always, generous. I'll try to work more to deserve all the praise you have shivered on my work-M G Warrier) Amazon.in https://www.amazon.in/dp/1636335896/ref=cm_sw_r_cp_apa_fabc_mRPRFbG3RREQ5 E Holy Plants and Trees of India https://www.speakingtree.in/allslides/sacred-trees-and-plants-in-hinduism/45530 25 trees and plants you know but have not taken seriously. F Faith/Spirituality* Prabodhini Ekadashi - Tulsi Vivah on 26th November. *Vishnu Kelkar तुलस्या: रक्षितं जगत् सर्वम् । Botanical name of Tulasi is Ocimum Sanctum. Ocimum means fragrance and Sanctum means holy. Holy basil, also called 'tulsi', a flowering plant is grown for its aromatic leaves and for many other reasons. Tulasi is considered sacred in Hinduism. It is used in Ayurvedic medicines for its clinical efficiency. It is reminiscent of clove. It is considered as an agricultural weed. It's a small annual plant, grows upto three feet in height. Its stem is hairy and it's simple rooted. There are two varieties - कृष्ण तुळस and राम तुळस. KRISHNA TULAS is grown in warm climate, its leaves are blackish green and tiny delicate flowers are in purple colour. RAM TULAS grows in cold climate with green leaves and white flowers. Tulasi owing to its properties and its genesis has many names in Sanskrit like: 'GRAMYA' (grown anywhere in a village), 'SULABHA' (easily available), 'RAMYA', 'SURABHI', 'SURASA' 'VRINDA', 'SUMANJIRI', 'BAHUPATRI', 'SWADUGANDHACHHANDA'. Names related to association with Vishnu. 'VAISHNAVI', 'VISHNUVALLABHA', 'VISHNUSUPRIYA', 'HARIPRIYA', 'KRISHNAPRIYA'. Names associated with curing power of Tulsi: 'BHOOTAGHNI', 'DAITYGHNI', 'PAPAGHNI', 'POOTPATRI' , 'PAVANI', 'KAYASTHA', 'SHOOLAGHNA', 'TEEVRA', 'SARALA', SUBHAGA' 'POOTGANDHA', Tulsi's names associated with the God: 'SURDUNDUBHI', DEVDUNDUBHI', 'SUREJYA'. No other plant has so many names. In PURANAS there are many stories associated with Tulasi. They do not match with one another. But together they form a ' Tulasi Vrindavan'. All the stories are centred around a woman who is real culture and its moving form Tulasi being its non moving form. Woman is symbol of creative earth which supports all living beings. Tulasi also does the same thing. Vishnu who is considered the protector of the earth is connected with Tulasi differently. Tulsi is venerated as a goddess in Hinduism and is sometimes considered as a wife of Vishnu, with the epithet “Vishnupriya”, “the beloved of Vishnu”. The legend behind Tulsi Vivah and its rites are told in the scripture, Padma Purana. According to Hindu scriptures, the Tulsi plant was a woman named “Vrinda” (Brinda; a synonym of Tulsi). She was an incarnation of the Goddess Lakshmi. She was married to the Asura king Jalandhar, who due to her piety and devotion to Vishnu, became invincible. Even Devtas could not defeat Jalandhar, so they requested Vishnu - the preserver in the Trinity - to find a solution. When leaving for war Vrinda promised Jalandhar for doing Sankalpa for his victory till he returns but Lord Vishnu disguised himself as Jalandhar and she saw him ,she left her sankalp and touched his feet. With her Sankalpa destroyed, Jalandhar lost his power and was killed by Shiva.and his head fell in Vrinda's palace. Seeing this she realized it was not her husband but Lord Vishnu. Vrinda cursed Lord Vishnu to become Shaligram and to be separated from his wife, Lakshmi. This was later fulfilled when he was transformed into the black Shaligram stone (actually a fossil), and in his Rama avatar, was separated from his wife Sita, who was kidnapped by the asura king Ravana. Vrinda then drowned herself in the ocean, and the gods (or Vishnu himself) transferred her soul to a plant, which was henceforth called Tulsi. As per a blessing by Vishnu to marry Vrinda in her next birth, Vishnu – in form of Shaligram - married Tulsi on Prabodhini Ekadashi. To commemorate this event, the ceremony of Tulsi Vivah is performed in Maharashtra. An important ritual in the ceremony is when the white cloth is held between the bride and the groom and the priest recites the Mangal Ashtaka mantras. These mantras formally complete the wedding. Rice mixed with vermilion is showered by the attendees on Tulsi and Vishnu at the end of the recitation of the mantras with the word "Savadhan" (literally "be careful" implying "You are united now". The white curtain is also removed. The attendees clap signifying approval to the wedding. Vishnu is offered sandalwood-paste, men's clothing and the sacred thread. The bride is offered saris, turmeric, vermilion and a wedding necklace called Mangal-sutra, worn by married women. Sweets and food cooked for an actual wedding are cooked for Tulsi Vivah too. This ceremony is mostly performed by women. The 'prasad' of sugar-cane, coconut chips, fruits and groundnut is distributed to devotees. The expenses of the wedding are usually borne by a daughter-less couple, who act as the parents of Tulsi in the ritual wedding. The giving away of the daughter Tulsi (kanyadaan) to Krishna is considered meritorious to the couple. The bridal offerings to Tulsi are given to a brahmin priest or female ascetics after the ceremony. Tulsi vivah marks the beginning of marriage season. VNKelkar G Quotes on intelligence and stupidity https://www.azquotes.com/quotes/topics/stupidity-and-intelligence.html