Warrier's Collage October 20, 2021

Welcome to Warrier's COLLAGE On Wednesday October 20, 2021 Madhurashtakam https://youtu.be/t_KcX_TTYcM EsselWorld https://youtu.be/GnxKTBII458 (Children, of all ages, Njoy!) Good Morning Nice Day M G Warrier Thought for the day charan singh (@CharanSingh60) Tweeted: Unity in Diversity - 44 Not forsaken lust, anger, greed & slander but still calling yourself a godly person? All your worship is fruitless Parmanand, 1253, SGGS कामु न बिसरिओ क्रोधु न बिसरिओ लोभु न छूटिओ देवा पर निंदा मुख ते नही छूटी निफल भई सभ सेवा परमानंद https://twitter.com/CharanSingh60/status/1450200532157489155?s=20 A The Power of Attitude https://youtu.be/r8LJ5X2ejqU (Examples of Lion & Eagle*) *Also read article on Eagle 🦅 by Vathsala Jayaraman @E B Select Responses 1) Dr Duvvuri Subbarao Former RBI Governor Thank you for your thoughtful views on food scarcity 2) Vivek Amin Nagpur In my early years, Central Office was addressed as New Central Office Building. At that time I put up a suggestion to HRMD (PPD) that it would be a fitting homage to our 1st Indian Governor to call the New Central Office Building (NCOB) as "CD Deshmukh Tower" the name familiar in banking fraternity. But I got a reply that it does no fall under the purview of RBI Staff Suggestion Scheme. (Wonderful. It's said that public memory is short. My experience is RBI's memory is shorter. PPD issued a circular on Pension Scheme on March 13, 1992 and forgot about the existence of such a circular even before the close of that decade. The Bank admitted the issue of the circular when a retiree produced a copy. Even the Executive who signed the circular obtained a copy of that circular through a mutual friend, from me, during the first decade of 21st Century! I've digressed. Back to COB : My understanding was that the 25 Storey RBI Building got its name New Central Office Building, because the majestic building opposite to that was the original Central Office Building which was "older". As the NCOB became a little old and was repainted, it coolly dropped the prefix "New". The old one became "Main Building", though functionally the main building is NCOB from where the Central Office is operating! Thanks for giving an opportunity to confuse and entertain readers 🙏-Warrier) 3) R Jayakumar Mumbai Time to feed the hungry... Most of us must have come across the recent headlines in the newspapers about the latest report on Global Hunger Index. Our general feeling is that If India is placed below Bangladesh, Pakistan and Nepal it is not true, and so, grossly unacceptable. I too could not find any reason to agree, as I closely watch the living conditions of the people in the slums, of the homeless, the roadside beggars, destitutes and mentally affected persons in and around the locality where I live in Mumbai. By and large none of them go to sleep hungry at night as the citizens of the city are very generous. There are people who go in search of the needy and distribute food packets, fresh or leftovers, daily and the needy seem to be overfed as one can see many untouched food packets left on roadsides. Slum dwellers do not beg, but they have ample opportunities to do odd jobs or sell goods on the roadside and earn enough to fill their stomachs for the day. What they lack is access to health, hygiene, clothing, essential daily needs and enough space to rest. Who is then really hungry or underfed!? Actually, as I read in the news, the global hunger Index is based on growth and height of children below the age of five. Therefore, in my opinion, the Hunger Index is applicable only to the children living in rural areas, mostly in undeveloped villages and hamlets. Most of our State Governments provide free mid-day meals to the school going children. What about the children not going to schools? How far the authorities have succeeded in ensuring to reach out to all starving children their daily bread is a question mark....? Every village, small or big in our country, must have free meals distribution centres for children run by government. It should be managed by dedicated and sincere government staff and not the greedy contractors. Selling government natural resources one after the other is not a solution to fight poverty. The disparity in wealth distribution among the citizens is a different issue not connected to poverty. This will only lead to a few people buying the whole nation as their personal property. Friends, above views are not based on any economics or sociology or logics. Simply a common man speaking. (This is another perspective, limited to hunger in cities and slums. I think this doesn't impact my views on the need for better resources management. Also read the quote at G🙏-Warrier) C Current Affairs 1) "Reserve Bank of India - Speeches" : Capital Account Management : T Rabi Sankar https://m.rbi.org.in/Scripts/BS_SpeechesView.aspx?Id=1133 Date : Oct 14, 2021 India’s Capital Account Management – An assessment (Speech delivered by Shri T Rabi Sankar, Deputy Governor, Reserve Bank of India – October 14, 2021- at the Fifth Foreign Exchange Dealers’ Association of India (FEDAI) Annual Day) Excerpts : "Conclusion India has come a long way in achieving increasing levels of convertibility on the capital account. It has broadly achieved the desired outcome for the policy choices it has made, in terms of achieving a stable composition of foreign capital inflow. At the same time, India is on the cusp of some fundamental shifts in this space with increased market integration in the offing and freer non-resident access to debt on the table. The rate of change in capital convertibility will only increase with each of these and similar measures. With that comes the responsibility to ensure that such flows are managed effectively with the right combination of capital flow measures, macro-prudential measures and market intervention. All of us need to consider deeply the issues I have highlighted above and arrive at effective solutions. Market participants, particularly banks, will have to prepare themselves to manage the business process changes and the global risks associated with capital convertibility. The regulator’s job is somewhat different. As someone once said, the job of a regulator is like the gas regulator in the kitchen - it cannot ensure the quality of the dish, but it can prevent the kitchen from blowing up. The quality of the dish – that is, the efficiency with which investment needs of the country are met - is up to how well Authorized Dealers and other intermediaries adjust to the increasingly fuller capital account convertibility." *Source : RBI 2) Safe Living To The Editor The Hindu Letters October 19, 2021 Safe living This refers to The Hindu editorial "Slippery slopes" (October 19). The need to preserve the integrity of rivers and mountains has been brought out excellently well. Beyond the preservation of safe environment and infrastructure to handle unexpected natural fury, there is a need to factor in, environment-friendly exploitation of natural resources. This will involve long term planning across nations in use of resources for farming, industrial production and construction of infrastructure including roads, bridges, railway and buildings. Safety of dams, tunnels, flyowers, roads, railways and all buildings and their locations may have to be monitored on an ongoing basis for repair/maintenance and/or reconstruction. Population staying in unsafe geographical areas may have to be permanently relocated. The present firefighting approach to natural calamities should give way to a permanent disaster management system. M G Warrier Mumbai D Collage Books 1) Man of Tomorrow "Man of Tomorrow: The Relentless Life of Jerry Brown: Newton, Jim: 9780316392464: Amazon.com: Books" https://www.amazon.com/Man-Tomorrow-Relentless-Jerry-Brown/dp/0316392464 Description Product Description Visionary. Iconoclast. Political Survivor. "A powerful and entertaining look" (Governor Gavin Newsom) at the extraordinary life and political career of Governor Jerry Brown. Jerry Brown is no ordinary politician. Like his state, he is eclectic, brilliant, unpredictable and sometimes weird. And, as with so much that California invents and exports, Brown's life story reveals a great deal about this country. With the exclusive cooperation of Governor Brown himself, Jim Newton has written the definitive account of Jerry Brown's life. The son of Pat Brown, who served as governor of California through the 1960s, Jerry would extend and also radically alter the legacy of his father through his own service in the governor's mansion. As governor, first in the 1970s and then again, 28 years later in his remarkable return to power, Jerry Brown would propound an alternative menu of American values: the restoration of the California economy while balancing the state budget, leadership in the international campaign to combat climate change and the aggressive defense of California's immigrants, no matter by which route they arrived. It was a blend of compassion, far-sightedness and pragmatism that the nation would be wise to consider. The story of Jerry Brown's life is in many ways the story of California and how it became the largest economy in the United States. Man of Tomorrow traces the blueprint of Jerry Brown's off beat risk-taking: equal parts fiscal conservatism and social progressivism. Jim Newton also reveals another side of Jerry Brown, the once-promising presidential candidate whose defeat on the national stage did nothing to diminish the scale of his political, intellectual and spiritual ambitions. To the same degree that California represents the future of America, Jim Newton's account of Jerry Brown's life offers a new way of understanding how politics works today and how it could work in the future. 2) Books by M G Warrier https://www.amazon.com/M-G-Warrier/e/B079ZC3JKX%3Fref=dbs_a_mng_rwt_scns_share Excerpts : Description Restoring Trust in Governance : India’s 2020’s Challenge is a companion volume to M G Warrier’s 2018 book “India’s Decade of Reforms” which looked at the initiatives taken by Government of India and RBI to restore the country’s economic health by an appropriate diagnosis of factors that stalled the 1990’s initiatives to introduce economic and financial sector reforms. GOI and RBI are taking forward reform initiatives to revamp the institutional system in the financial sector by infusing transparency and professionalism in policy formulation and introducing structural alterations wherever necessary. This book focuses on policy initiatives necessary to retrieve Indian Economy and the Indian Financial Sector from the present crisis-like situation. Areas covered in this book include agenda for the second Modi government at the centre (2019-24), pros and cons of privatizing public sector, approach towards gold management. Reserve Bank of India’s role in confidence boosting viewed in the context of monetary policy implementation since the setting up of Monetary Policy Committee (MPC), some aspects of macroeconomic policy challenges before the Reserve Bank of India, need for a strong central bank, conflicts in formulation and implementation of monetary and fiscal policies. Finally, in a separate Section, namely ‘Professionalizing Financial System' we look at measures being taken to professionalize and strengthen the Financial Sector with focus on regulation and supervision of the banking system. E Readers' Contributions EAGLE- A great mother and Management Guru : Vathsala Jayaraman When we see eagles flying at great heights we may think that eagles fly by instinct. Many do not know that if eagles are not taught to fly they will be safe and lazy like ducks. Mother eagle builds nest way up high in a tree, gathers soft things to line the nest. The baby eagles love the soft nest. Mother feeds them bit by bit. When it is time for the baby to fly, the same mother becomes stiff. She removes the soft things one by one, roughens the nest with sharp sticks and thorns and make the nest as uncomfortable as possible for the baby. The eaglets, losing the comfort zone come near the edge of the nest, look around the world. The mother flaps its wings. The child climbs on it. Mother flies taking the baby on its wings. When the baby feels very secure seating on her mother, the mother dives suddenly, plummeting downwards, depriving the baby of its seat. The baby is in a free fall, tumbling down and down. The mother within seconds catches hold of the baby, comforts and gives some rest. This comfort does not last long. Once again the mother pushes the baby out in the air. The process gets repeated hundreds of times until the baby is strong enough to fly alone & experiences the thrill of total freedom. The mother, notwithstanding its affection makes sure what is good for the baby. The intensive coaching makes the child live on its own. She does not hesitate to make the baby suffer for good. What a great training comparable to army training! Many of the business training institutes have "eagle" as their name or emblem. Eagles are role models not only to mothers but also to business people at large. Eagle seems to convey" Don't quake or complain. Soar above the crowd, look around, compare and do better. Eagles soar to great heights, have a sharp vision, have a clear view of the world below especially on the prey to catch. The business men should have a clear vision of what is happening in the market from a far off place, recognize the potential customers, attract or (attack) them at the right moment. At the same time, like an eagle, be aware of the probable hurdles and be prepared to face them. Eagles are mostly confined to certain territories, mountains or forests, but know every nook and corner of the place. So also businessmen should concentrate on certain aspects, should be thorough with technology, product, marketing & competitors etc in their respective fields. Enough is enough. The bald eagles catch only one fish at a time. They know precisely how to catch this one fish and 99% they don't fail. The people have to restrict the number of products they can handle and choose the ones that match their skills, and be assured of success. The eagles soar to the sky to get a prey. When they feel that it is beyond their reach, they simply fly down, ignoring the prey. The businessman should be able to assess his downfall and decide to stop his free fall. Any decision leading to disaster is not a decision at all. We see that though these attributes apply well to businessmen, the principles are of great significance to every individual. Mythologically too, Garuda, the son of Kashyap and Vinata is glorified by Lord Krishna in Gita as " I am Garuda among birds", and he is the periya thiruvadi in Vaishnavite temples. It is said eagle is of great importance to Christians also. Very often Christians compare themselves to eagles, with the wings representing faith and belief in God and the wind as the Holy Spirit. No doubt, eagle is a symbol of strength, hope, wisdom and perseverence. It is an ideal mother, a great Management Guru and a pedagogue of the highest order!! What a bird! *This is my article shared in the forum in 2011. After watching the video on management lessons from Eagle (link shared by Shri P R R Nayar, I thought of sharing here. Vathsala Jayaraman F Leisure 1) Funtertinement "20 Fun Family Activities to Do at Home | Parents" https://www.parents.com/fun/activities/outdoor/weekend-family-activities/?slide=slide_cfed54ad-f4da-4fb5-bb99-fd347f52d0d5#slide_cfed54ad-f4da-4fb5-bb99-fd347f52d0d5 Practicing social distancing doesn't have to mean sitting in front of the TV all day. Here are 20 fun family activities you can do inside and outside of the house. 2) Humour* Insults when coated with humour and wit make for a great combination. Here are some for you to enjoy: ♦️ She dresses to kill -- and cooks the same way. ♦️ He was born in the United States --but terrible things happen in other countries too. ♦️ His obesity is surplus gone to waist. ♦️ He left his job because of illness and fatigue -- his boss was sick and tired of him. ♦️ His credit is so bad he cannot even borrow trouble. ♦️ He kept learning more and more about less and less until now he knows everything about nothing. ♦️ What he lacks in intelligence he makes up in stupidity. ♦️ He may talk like a fool and act like a fool but don't get the wrong idea about him --he IS a fool. ♦️ It is not that he does not have presence of mind - his trouble is absence of thought. ♦️ Her photographs do her injustice -- they look like her. ♦️ He is as phoney as a dentist's smile. ♦️ He started out in life as an unwanted child -- now he is wanted in 10 states. ♦️ She has a keen sense of rumour. ♦️ He is jack of all trades and out of work in all of them. ♦️ They are in the Iron & Steel Industry -- she irons clothes and he steals. ♦️ She thought she was getting a model husband --- too bad he is not a working model. ♦️ He is so boring he cannot even entertain a doubt. ♦️ He gave a very moving performance - everyone moved towards the exit door. *Received from Dr T V Surendran Mananthavady G Quotes about Entertainment "Entertainment Quotes - BrainyQuote" https://www.brainyquote.com/topics/entertainment-quotes Like : "Multinational corporations do control. They control the politicians. They control the media. They control the pattern of consumption, entertainment, thinking. They're destroying the planet and laying the foundation for violent outbursts and racial division." Jerry Brown (Edmund Gerald Brown Jr. is an American lawyer, author, and politician who served as the 34th and 39th governor of California from 1975 to 1983 and 2011 to 2019.

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