Warrier's Collage April 10, 2021

Welcome to Warrier's Daily COLLAGE On Saturday April 10, 2021 SATSANGA Sarvapryananda on "Free Will" https://youtu.be/fvhxTVikbos Good Morning Nice Day M G Warrier A Interaction 1) C V Subbaraman Mysuru I Tax on interest on deposits: The cruel part of the TDS on interest on deposits is the fact that tax is deducted on "accrued interest". Suppose one makes a depost for five years, interest payable cumulatively at maturity, bank would deduct tax on interest accrued every financial year! The poor depositor has to pay tax so much in advance. Will he have to borrow to meet the TDS? That would make the situation worse. All this when there is a provision in the tax laws that the assessee can choose either of the options of paying tax on actual receipt basis or on accrued basis. The practice of banks of deducting tax on accrued interest basis leaves the assessee with no option which is conferred on him by the law! And with several banks it is now the practice of deducting tax (if the total interest paid exceeds the prescribed amount) even from interest on accrued on savings deposits. And what is more, there is no uniformity among banks in this regard and banks pay interest on savings bank deposits on quarterly basis but the quarter is not uniform. One of the lacunae is that there is as yet no practice of companies deducting Tds from interest on corporate bonds or computing "accrued interest" for the financial year. Perhaps this idea has so far fortunately (for the investors) escaped the attention of the eagle eyed bureaucrats who advise the Finance Minister. Subbaraman II Is the Earth growing fat? Although we call Earth as Mother Earth, she seems to be following her unworthy sons who grow fat* and develop a bulging belly portion. Some time in 2011 a study was made on the subject and it was estimated that Greenland and Antartica are losing a combined 382 billion tons of ice every year (is it net or gross, is not known) and Earth bulges at the centre at 0.28 inch per decade. Will the warming increase accelerate this process further? And if the earth grows fat at the belly (near the equator) it might also slow down further, making the day and night longer. We can leave the matter to the researchers to tell us how longer can we (our successors) enjoy longer sleep time or suffer serving office time during the day. Subbaraman (*Long back O N V Kurup recited this funeral prayer 🙏 for Mother Earth: https://youtu.be/_EitDfM6jT4 🙏-Warrier) 2) V R Chittanandam Cheñnai The story of the Pastor and the Caretaker narrated by Shri Jayakumar was very humorous. Chittanandam 3) PKK Nair Bengaluru C Achutha Menon When I saw Shri Babusenan’s note on Shri T N Jayachandran and Shri C Achutha Menon, I am impelled to share a few of my thoughts through the columns of this august Collage about these two personalities. Shri TN Jayachandran IAS is a class by himself. He is an erudite scholar, a speaker of very high caliber and an excellent human being! When he was the APC of Kerala, he was assigned the Project Manager of the Kerala Agricutural Project sanctioned by the World Bank through the personal influence of late MA Chidambaram ,the then MD of the ARDC. I had the privilege of working with Shri T N Jayachandran at close range as I was a part of the ARDC. I have found him as an effective motivator and an able administrator. Late Chelat Achutha Menon ruled Kerala not only for the full five years but also for en extended term of one more year He was a distant relation of ours and a very close friend of my father, politically. He had obliged me once my invitation for a dinner in my RBI quarters, Mumbai. We exchanged pleasantries at which I quarried him saying that “Sir, you generally will not laugh as much as other persons do”? To this he laughed nicely! I gave him a small gift which he accepted with thanks and told his wife to keep the same safely! I found him to be a perfect gentleman without any aura around him either!! Shri Menon was simplicity personified!! B Books a) Book Review: i) Man's Search for Meaning https://sharathpatil123.medium.com/book-review-mans-search-for-for-meaning-5654ab40f15e Excerpts: "Frankl said that the distinguishing factor was one’s ability to find meaning, and teaches everyone that our ability to find and pursue meaning will strengthen us in any trial, big or small. Perhaps most inspiring of all were some truly kindred souls that Frankl came across in the concentration camp: “We who lived in concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread. They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of the human freedoms — to choose one’s attitude in any given set of circumstances, to choose one’s own way.” These brave men and women give each of us little excuse to ignore the needs of our communities, and they are a standing example of how even when we have nothing, we can be generous." “It is what we make of what we have, not what we are given, that separates one man from another.” – Nelson Mandela ii) Towards Realization of Ultimate Reality: V T Panchapagesan This is a 34 page booklet brought out by V T Panchapagesan on the occasion of his turning 90 on January 2, 2020. He shared a copy with Collage. Panchapagesan has been regularly contributing short pieces containing valuable tips for living a happy, peaceful and purposeful life. This book encapsulates his thoughts on self-realization evolved over decades of experience and contemplation. Collage wishes him Ayurarogyasaukhyam and uninterrupted peace and happiness in the years ahead. b) India Transformed: Edited by Rakesh Mohan https://www.amazon.in/dp/0670089516/ref=cm_sw_r_cp_apa_glt_fabc_2C6JJK51VQHH8KFJYRTQ Description Product Description In this commemorative volume, India's top business leaders and economic luminaries come together to provide a balanced picture of the consequences of the economic reforms, initiated in 1991. They ask themselves some imperative questions: What were the reforms? What were they intended for? How have they affected the overall functioning of the economy? Including contributions from Mukesh Ambani, Narayana Murthy, Sunil Mittal, Kiran Mazumdar-Shaw, Shivshankar Menon, Montek Singh Ahluwalia, T.N. Ninan, Sanjaya Baru, Naushad Forbes, Omkar Goswami and R. Gopalakrishnan, India's Transformation manages to delve deep into the life of liberalized India through the eyes of the people who helped transform it. c) Book By P P Ramachandran, Ex-RBI Anecdotal History of the Reserve Bank of India https://www.amazon.in/dp/9332703116/ref=cm_sw_r_cp_apa_glt_fabc_0WYSRYMEBG1XT1K4YBWC d) Books by M G Warrier i) Use this link for reading the book "Assorted Letters of Dissent", if you have access to Kindle Unlimited: https://www.amazon.in/dp/B07J3Z7T2D/ref=cm_sw_r_cp_apa_glt_S0Y0ZNVCG70HB7BYR3WM ii) Other Books by Warrier Restoring TRUST in Governance: India's 2020's Challenge (2020) https://www.amazon.in/dp/1636335896/ref=cm_sw_r_cp_apa_glt_fabc_NSD9HB5Z1HQDWESMT3N9 India's Decade of Reforms (2018) https://www.amazon.in/dp/B079P56273/ref=cm_sw_r_cp_apa_glt_SSBRYJWVSFBCHE6G11V5 C Current Affairs Privatisation of PSBs My article on Privatisation of PSBs is published in the current issue of The Global ANALYST (Submitted version will be shared in Collage tomorrow. PRR Nayar shared his memories about consolidation of private sector banks during 1950's and 60's in Kerala. (Excerpts copied below) How RBI Handled the Banking Crisis of the 1950s: P R R Nayar from Thiruvananthapuram who was associated with the work of consolidation of commercial banks in Kerala during the 1950s and the 1960s recalls: “With the extension of the Banking Companies Act to the then Part B States of Travancore and Cochin the RBI opened an Office of the Department of Banking Operations in Thiruvananthapuram. It had under its operational jurisdiction 179 banks (five scheduled and 174 non-scheduled banks). Almost all were those awaiting licences to carry on banking business. The process of consolidation of banks evolved in the wake of the winding up of the Palai Bank in August1960. This bank had deposits of around 5 cr which arithmetically accounted for an insignificant fraction of the total deposits with the system. Defying all theoretical assumptions, a heavy run ensued necessitating an open declaration by the Finance Minister himself about the solvency of banks in general. The formation of Deposit Insurance Corporation and the vesting of powers for compulsory mergers of banks are some of the important changes necessitated by the resultant muddle. For the hard-core antagonists of private sector banks who revel in discrediting them as looters of the savings of the common man, the banking scene of Kerala in the former half of the last century would provide the right response. So too, not being bound by the compulsions of concepts of the like of asset liability management, micro and macro financing, etc., the banks’ credit portfolios contained essentials of the later concepts of social banking, like housing finance, personal loans and what not. It can be categorically stated that private sector banks in Kerala of the yesteryears had played a major role in keeping the private moneylenders at bay. It is not accidental that the State witnessed corporatization of money lending closely following the elimination of these banks” D I Self-Development: V T Panchapagesan Chennai E O C: Enthusiasm, Optimism, Contentment Enthusiasm is the master key acting like a double energy boost.. It keeps the self extremely positive and beyond the pull of negativity.. It is as if enthusiasm opens a window, from a narrow state of mind, gloom or despondency . It gives us faith in the reality of other possibilities.. Enthusiasm is derived from the Greek word, enthusiasmos , meaning, To be in God.. A person with enthusiasm never sees a problem as an obstacle.. He envisages solutions, bridges dissolving all obstacles.. It gives strength and direction when our thoughts spiral out of control Or spin in tiring circles, hurt pride and rejection drain our goodwill and spontaneity.. Optimism opens a door in difficult or hopeless situations. It knows that there is always a way, no matter how many doors have been shut.. The signal has to be clear, even harsh, otherwise we may continue in Self-delusion and not wake up.. avoiding facing the situation boldly.. Without opening Pandora box... We have to learn that bridges can be built, seeing that after a storm Rainbows shine their many colors....emerging free from fear, chaos and distress... Let us be flexible and able to be led duly combining the art of making things happen with ability to allow things to happen. Knowing that it is all a matter of timing with cause and causation effect... Contentment lays the foundation for happiness as it is the best medicine containing within it so much optimism and enthusiasm.. It should not be confused with complacency achieving a state of arrogance In thinking.. Contentment comes from appreciation —-from a deep gratitude for all the things life gives us and heartfelt thanks that God has given us the Capacity to learn and exist meaningfully.. The father of contentment is humility, the openness to receiving new signals from life as well as the courage to act on them.. The mother of contentment is simplicity because it is the simple things in life That create wonder, such as breath, thought, choice, the sunlight, flowers And a smile..... Let us cherish these three things and value them because of our inner awareness with a great feeling that everyone is good and everything is good.. V. T. Panchapagesan. II Story Time with Vathsala Jayaraman Mud and the mind Buddha for all of us symbolizes wisdom, compassion and absolute reality. Equanimity of mind is best understood when we observe Buddha’s reactions to events and non-events in his life. Hissense of compassion moves you with its sheer purity and simplicity. Let us share with you a day from the life of Buddha. Buddha, in one of his travels, was going from one town to another along with his dOkisciples. The Holy One’s company, His observations, suggestions, and advice were gems of wisdom that His disciples were blessed to receive. As this team traversed some distance, they came upon a lake. Buddha voiced His need for some water as He was thirsty. “Do get me some water from the lake as I am thirsty.” The disciple walked toward the lake to a point where he could fetch some water when he saw a bullock cart cross the lake resulting in the lake turning to a murky brown. “Oh no,” he thought, rather disappointed about the ill- timed passing by of the bullock cart. “How do I take this muddy water to Buddha? What will He say to this?” He walked back to Buddha not looking too happy and said to him, “Buddha, this water isn’t good to drink. It is dreadfully muddy.” Buddha waited for about half an hour and sent him back to the same lake to get Him a bit of the same water!The disciple visibly puzzled walked back quite sure the lake wouldn’t change. A closer lookshowed that the lake was indeed still addled. He was right; the lake didn’t change colour in that time at all. There was no way he was going to take this water back to Buddha!He marched back to his master. He was received with the same calm and waited for a while. Buddha told him to go to the lake yet again. The disciple knew not what Buddha had in mind as he found the whole exercise a bit odd.The lake that was murky and filthy all the while since the bullock cart left seemed to be a totally different one this time – a clean, clear lake with not a hint of brown! The mud nicely settled into a bed of sediment; it required no skill to fill his pot of crystal clear water for Buddha. Feeling triumphant after more that a single attempt, he walked back pleased to have gone back on a successful note. Buddha in his quintessential serene look, accepted the water, and turned to this disciple and said, “Did you see what it took to get me some clean water? Nothing! You just let it be. You gave it time and what happened? The mud raced to the bottom of the lake leaving you with clean water!” “The same holds true for your mind as well. Just let it be. All it needs is a little bit of your time. It will quieten down on its own. It requires no effort from you to still it. It eventually happens with the help of a little time. It is effortless.” Just how supremely powerful is this simple message? The disciple was obviously stupefied. The peace of mind that seems to elude most of us on this planet actually is right here for all of us to experience. “It is actually effortless.” It isn’t a wearisome exercise that we think only few can get results for. It is actually that simple for all of us!” Vathsala Jayaraman ( Clarity of Mind means clarity of passion too. This is why a great and clear mind moves ardently And sees distinctly what it loves.......Blaise Pascal. Buddha and his Disciple . MIND is.........................MIND is here Motivates Mind Instruct Inspires Nature’s. Nature’s Divinity.. Divinity. Disciple. Buddha V T Panchapagesan Chennai) E Blogs & Links 1) Bengali Angels: Pragati Naik https://www.newindianexpress.com/opinions/mindspace/2019/dec/30/the-bengali-angels-who-saved-my-life-2082620.amp Excerpts: "My father organised for me to have two mashis, one for the day and the other for the night. They were two gentle ladies, willing to do anything to ease my pain and keep me comfortable. I regret that though I still remember the names of the doctors who treated me, I have completely forgotten my mashis’ names. However, I can recall their faces distinctly; I often think of them and include them in my prayers. It is doubtful if I could have survived my ordeal without their gentle ministrations and loving care. They were angels." 2) The Unsung Hero: Vathsala Jayaraman https://www.thehindu.com/opinion/open-page/the-unsung-hero/article2116167.ece 3) Education and Fitness: M G Warrier https://timesofindia.indiatimes.com/readersblog/warriersviews/education-and-fitness-23748/ F Leisure Covidology* A man stopped his car in front of a shop & told his daughter in the car - "stay in the car. I will be back shortly, after buying you a chocolate & Soda". When he returned, he was aghast she was not there. Upon looking around, he found her 200 feet away looking at a building & walking towards it in a trance. When he caught up with her, she said - "don't stop me. I feel connected with this building, may be in my last birth. I need to deeply investigate that connection*". He slapped her and said " - Stop this filmi nonsense. You used to go there daily before COVID. It is your school....." *Forward received from Babu Sastamangalam G Quotes about Meaning of Life https://www.success.com/the-meaning-of-life-in-15-wise-quotes/ Like: "There is not one big cosmic meaning for all; there is only the meaning we each give to our life, an individual meaning, an individual plot, like an individual novel, a book for each person.” ―Anais Nin (Angela Anaïs Juana Antolina Rosa Edelmira Nin y Culmell, known professionally as Anaïs Nin, was a French-Cuban-American diarist, essayist, novelist and writer of short stories and erotica. Born to Cuban parents in France, Nin was the daughter of composer Joaquín Nin and Rosa Culmell, a classically trained singer.)