Warrier's Collage on Wednesday December 28, 2022

Welcome To Warrier's COLLAGE Midweek Edition On Wednesday December 28, 2022 Shyamala Ramesh Babu : Retirement https://youtu.be/35jbUGLrMRI Motivational Speech Good Morning 🌄 This is the last issue of Collage this year (2022). Next issue of Collage is scheduled for Sunday January 1, 2023. Nice Day M G Warrier A Messages/Responses I Man of the week Shri Renjith son of Annamma Thomas, Ex-RBI cracked CAT four times with 100 percentile. This tutor has been appearing for IIM exam for 12 years - https://indianexpress.com/article/education/iim-cat-result-2022-cracked-cat-four-times-with-100-percentile-this-tutor-has-been-appearing-for-iim-exam-for-13-years-8338692/?utm_source=whatsapp_web&utm_medium=social&utm_campaign=socialsharebuttons Source : RBI Retirees Group Thiruvananthapuram II Responses to E today 1) A Chandramouliswaran As far as I can recollect, Deputy Governors of the Bank are government appointees for a fixed tenure and are not paid pension by the RBI. In the case of Government servants( IAS officers), they retire from their government service and their pensions are held in abeyance till the completion of their tenure in the RBI when they are paid salaries as per the terms of their appointments. In the case of those from banks who have been appointed as Deputy Governors, their pension are as per their eligibility under the banks’ rules after their tenure is over. In the case of EDs of RBI who are appointed as Deputy Governors, they receive pension as per their eligibility as EDs after their tenure is over. Let me add a rider. It is possible that I have not kept myself fully informed having completed 22 years after retirement! A Chandramouliswaran. 2) C V Subbaraman Clarifications on this score are welcome. I understand that Dr. Rangarajan had held several important posts, besides being Dy Governor and Governor of the Reserve Bank. He was appointed as Member of Rajya Sabha during 2008/009, he was Governor of Andhra Pradesh. Members of the Rajya Sabha receive life time pension, I do not know how much now. Similarly, past Governors of States are given pension, and also secretarial allowances and the facility of a peon. Dr. Rangarajan might be entitled to these pensions and Secretarial assistance, as there does not seem to be any minimum period of service for entitlement to these pensions and privileges. All the same, there is need for the RBI, which introduced pension scheme for the staff only in 1990 (with effect from 01 January 1996) to have a rational policy consistent with the pension schemes of other establishments of the Central Government, including enhanced pension for super senior pensioners. Such uniformity is woefully lacking and the RBI HR divsion seems to be not concerned about its pensioners. Subbaraman 3) Sitendra Kumar Dear Shri Warrier, Thanks your concern for our previous illustrious GUV Shri C Rangarajan which we all share. The question of granting pension to him is quite complex and beyond the comprehension of the Indian bureaucracy of which, no doubt, he was also an important part. He was a Research Scholar in Rajasthan University, Jaipur, a lecturer in Loyala College, Madras as it was known then and had held important academic positions in Indian and Foreign Universities. His last appointment as an academician was at IIM, Ahmedabad and then he was drafted as DG in RBI and subsequently elevated to the post of GUV. He also served in GOI for a short while and was GUV of Andhra Pradesh as well. He was in PMs EAC also for some time. THERE HAD BEEN NO CONTINUITY IN HIS SERVICE CAREER. So he always enjoyed the benefit of CPF in his career apart from admissible gratuity. Now in GOI, only in army in other ranks the full pension is granted after 15 years of service, otherwise it's 20 years of reckonable service for one and all. Please remember that the Indian bureaucracy is one of the most rigid and inflexible of all , the relaxations being allowed only in case of IAS some times. Moreover the post of DG/GUV are on contract basis for a short duration renewable at the discretion of GOI, a set of discreet functions, the element of continuity being critically absent. Even our cadre officers when they are appointed as DG, they don't get full pay but a fixed contracted amount as their pension has to be reduced from the pay of DG. Their service as DG is not reckoned for the benefit of availing pension. In PSBs, the GMs elevated to ED's rank are considered to be the employees of the GOI and their service is also not reckoned for the benefit of availing pension. More over their pension is never revised as the Special Pay element in every pay revision does not form part of superannuation benefit. I don't think GOI will ever consider paying pension to Shri C Rangarajan , more so as he does not belong to the charmed circle of IAS. I think financially he's very well off but as a matter of gratitude to this eminent economist who has done lot for the country, he may be suitably compensated just like eminent people in various fields are allotted Govt accomodation or paid honorarium, he may also be suitably honoured like this. It's too much to say that High time RBI overhauled and professionalised the central bank's HR department picking up a lesson or two from corporates like Tatas or at least by following central and state government norms in staff welfare measures. Neglect of the basic needs of staff and families affects the morale of workforce in different ways. Our HR department picking up a lesson or two rom corporates like Tatas ? Sounds far fetched. Can they ring up an Under Secretary in DFS, MoF to know what's the present position of our pension revision? To climb a mountain may be easier. Dear Shri Warrier, we all share your concern. Regards, Sitendra Kumar 4) Dr T V Gopalakrishnan Dr Rangarajan is not getting pension from the RBI is news to me. It is strange and unbelievable to observe that RBI, which is supposed to be having a well enlightened board of Directors, is not having the wisdom , the compassion and empathy to take care of its own staff despite enjoying enormous resources even to spare a lot to the Government . The mindset of the bureaucrats is not understandable and to what extent they can be BROAD MINDED to themselves. Dr T V G 5) M G Warrier My response to Dr Reddy's review of Dr Rangarajan's book was a spontaneous one and though I was aware of some dimensions brought out here, they were much beyond the scope of a letter to the editor. Actually pension was not an issue raised in the book and we should thank Dr Reddy for squeezing it in the review. But those who know Dr Reddy will know why he raised the issue now. I'm happy to read the views expressed by all who are keeping track of the inside stories in RBI long after their retirement. Let's keep the torch burning. Thanks & Regards -Warrier B Collage Higher Education : Career in Law Article in the current issue of Without Reserve Career Opportunities in the Legal Profession By Jayanti Ghose Education and Career Consultant Most people believe that lawyers work in law firms or are self-employed or work with a senior lawyer in private practice. Some might ask whether a lawyer is a criminal layer or a divorce lawyer or a civil lawyer. Beyond that people are not really aware that legal professionals can hold a variety of jobs in diverse workplaces and industries. There are many opportunities for lawyers and there are different kinds of lawyers. There are jobs for lawyers in the legal departments of all kinds of businesses and industries, both private and public, including insurance companies, banks, security companies, forensic services, investigation services, media companies, regulatory bodies and so on. The government is a major employer of lawyers as are the defence services. Why choose a career in law? People choose to pursue a career in law for a variety of reasons: ■ To influence and persuade people ■ Apply rules and regulations ■ To protect people ■ For pursuing social justice ■ Solving problems ■ Fighting for people wrongly accused / convicted ■ To make a difference Skills required ■ Commercial awareness which includes knowledge of current local, national, and global business developments to appreciate the social, political and economic issues impacting a client’s financials. ■ Attention to detail as accuracy is critical in a legal career ■ Communication skills- oral and written skills along with strong listening skills- the willingness to listen, to be persuasive, negotiating skills and ability to explain complex information to a client or in court. ■ Teamwork- the ability to deal with people from all levels of the legal hierarchy. ■ Organising skills are vital for a career in law. One has to manage case files, meetings with clients, be able to prioritise while remaining focused. ■ Research and information analysis are vital for lawyers. One must have the ability to read large volume of information, absorb it, analyse the material, and identify the relevant aspects out of all the information. ■ Problem solving skills- lawyers must be creative problem solvers as the easiest or the most obvious way is not always the best course of action to get a positive outcome for a client. ■ Ability to work under pressure, to take the initiative, to be independent, resilient and self-confident are other useful skills. ■ A healthy dose of scepticism is useful for lawyers so they must take time to verify information about which they are not certain or confident. ■ Perseverance and enthusiasm for lifelong learning is a must-have for success in law. In our tech-enabled world, lawyers must also be aware and familiar with the specialised software or software tools in the sphere of document management, project management, database management, billing etc. to manage their work effectively Legal education options The most direct entry into a career in law is through the Five-Year Integrated Law degree programme- BA LLB (Hons)/ BBA LLB (Hons) and equivalent course, after 10+2 in any discipline at various national and state level law universities and the various law colleges under different universities. Admission is based on an entrance test. Prominently, CLAT (Common Law Admission Test) conducted by the Consortium of National Law Universities (https:// consortiumofnlus.ac.in/) which includes more than 20 law universities in the country. Some of the other universities /deemed to be universities may also accept the CLAT scores* to shortlist applicants to their five-year integrated law degree programme. In addition, a few law universities also conduct their own entrance tests and some states have state level common entrance tests for law admission. Notifications of the law entrance tests may appear from September onwards and the test may be scheduled between December and May. This means that students in class 12th would have to be on the lookout for the admission notification while in the first semester of class 12 for admission to the course commencing in June-July the following year. The other route for legal training is through a 3-year LLB degree course open to graduates of different disciplines in a limited number of universities in the country, including Delhi University, Mumbai University, Pune University, Jindal Global University, etc. Admission to these universities is either based on a university entrance examination or a state level common entrance test or LSAT-India While the shortlisting of suitable candidates for admission to the five-year integrated law degree course after class 12, or the three- year law degree course after graduation, may be based on performance in an entrance examination, the final selection would take into account prior academic record of the student, extra-curricular activities and achievements, as well. Specialised areas of law Corporate law, contract law, bankruptcy law, family law, immigration law, criminal law, estate law, civil law, constitutional law, labour law, environmental law, entertainment and media law, healthcare, insolvency, intellectual property rights law are among the fields of specialised practice in law. Right after a five-year or a 3-year law degree, a law graduate may be hired to work in any area of law based on the employers’ requirements. Based on the area of their legal work experience, they gather specialised experience and knowledge to continue their career in the same field. Taking up a masters/ doctoral degree would be advisable for law graduates who wish to pursue a career in teaching, advising and consulting in a specialised area of law. Employment prospects The judicial services examinations in every state recruit fresh law graduate at junior levels in the State Judiciary, while lawyers with three or more years of experience may apply for the senior level of the State Judiciary. Lawyers/ Advocates with at least ten or more years of experience may be shortlisted for openings as judges of the High Court, while some may be promoted through the state judicial service, especially those who joined at an early age. The defence services recruit law graduates into the Judge Advocate General cadre through their own selection process as indicated in their recruitment notification. Engineers and scientists may also work in the legal field in the areas of intellectual property rights, while law graduates with a technical/ scientific education work as patent lawyers. Regulatory authorities such as RBI, SEBI, PFRDA, TRAI, etc. also employ lawyers. Major law firms hire directly from the campuses of prominent national and state level law universities and the legal faculty of the prominent and reputed universities in the country. These lawyers are placed in various departments of a law firm such as litigation, mergers and acquisitions, property, finance, labour, family law, environmental law, etc. Teaching law is an important opportunity for a legal professional, not just at a law college/ university, but in different colleges and universities and departments where law courses are part of the curriculum of business, commerce, etc. Most consulting firms also recruit lawyers as do NGOs, and social welfare organisations. Prospects Studying to be a lawyer requires hard work, long hours, and continuous learning to stay updated on the new laws, policies, changes and trends in the legal environment. Law is an interesting discipline which has universal application as law governs a large part of our lives. Law is never boring and no two cases are the same. Each case throws up problems and challenges, and law is intellectually challenging and constantly stimulates the mind. There are rarely any ready or easy, clear-cut solutions and each case requires careful consideration and different perspectives. Thinking out of the box is vital. With the rapid growth of AI-powered legal software tools advancing upon us, the challenge for law firm managers, practitioners and partners is to determine what best suits their needs. Knowledge process outsourcing (KPO) is a good opportunity for those with legal training and is known as LPO or legal process outsourcing. Indian LPOs usually offer services in the areas of contract management, document review, legal research, deposition summaries, litigation documents, patent renewals, patent analytics, IP support services, data verification, IP records, patent research, trademark renewals, trademark watching, digital content watching, trademark search, etc. A few of them such as legal transcription, legal coding and indexing, etc. are manpower intensive work while patent and general legal research services are high value services. A law graduate may choose not to take up a job directly in the legal profession, but use the degree in social and business environments, management, advisory, sales, marketing, HR, recruitment, writing, journalism, media and coaching, based on one’s aspirations, and circumstances. Bright and confident people with strong communicative skills who are not lawyers, but may be pharmacists, scientists, engineers, doctors, accountants, as also any graduate / postgraduate can look for work in law firms in specialised and administrative roles. A lawyer’s work is challenging and the higher your responsibilities, the longer are the hours you work and consequently your earnings. Specialised and diverse work experiences, enthusiasm, resilience, perseverance, energy and continued learning are the keys to success and advancement in the legal profession. *My grandson Vihaan (son of Reshmy Warrier) secured rank 213 in CLAT 2022 (60,000 appeared for the test on December 18, 2022) and is awaiting college allotment. Congratulations and Best Wishes to Vihaan 🙏-Warrier C Vathsala Jayaraman's Column All Done Children live in their world and they extend warm welcome to everyone willingly to participate in their plays. I have lived with 18 cousins, uncles and aunts and grandchildren in the family. Each child is unique in character & has his/her own way of mingling. Some are calm, some are very naughty, some will talk in crystal clear pronunciation. Some will have mazhalai. Everything has its own beauty. Employed women do not have time to enjoy the childhood pranks of children. My mother-in-law never allowed me to do any kitchen work between Saturday afternoon to Sunday night, so that I can play with my children to the heart's content. When we have so much of time now, children are living abroad. I remember my grand daughter one year old, standing behind the compound gate giving flying kiss to all the school children walking thro our street daily, since there is a good kindergarten school in our street. She would say 'Finish' for completing any activity. My grandson Aditya used to sing a song, when he was nearing three "Gnaapagam Varude Gnapagam Varude" from a tamil cinema. When anyone asked "You are ony two and a half; what do you remember?" He, with his big eyes wide open will start narrating " When I was in Amma's thoppai, I felt hungry. If Amma takes coffee, it will come to Aditya. If Amma takes thayir saadam it will come to Aditya." He used to name so many eatables and repeat the same sentence. He used to continue : "Doctor cut amma's thoppai, took Aditya out. Aditya had fever. Amma very sad. Dr gave shots. Amma very happy. Aditya also happy." He would start Gnapagam Varude again. No guest was left off without listening to his wonderful tale. Now he is 18. He feels ashamed when anyone talks about this. It is very interesting to watch how each child captivates the attention of elders in its own way to have their job done. I used to wonder that great business skills are hidden in children. Bringing up children and living with children is a wonderful experience, not only enlightening but educative too. Vathsala Jayaraman. __._,_.___ D Current Affairs Assets Monetization https://www.deccanchronicle.com/nation/current-affairs/240821/fm-lists-rs6-lakh-crore-government-assets-to-be-sold-in-four-years.html E Collage Books : Forks in the Road : My Days At RBI And Beyond By C Rangarajan Book Review By Dr Y V Reddy* https://www.thehindubusinessline.com/books/reviews/book-review-forks-in-the-road-my-days-at-rbi-and-beyond/article66304616.ece *The Hindu Business Line dated December 26, 2022 Media Response : M G Warrier RBI's "Staff" concerns* This refers to the brief but exhaustive review of Dr C Rangarajan's recently released book "Forks In The Road" (The Hindu Business Line, December 26) by his colleague and contemporary Dr Y V Reddy. It's shocking to know that Dr Rangarajan is not being paid any pension for his 15 year service in RBI, in a country where personal staff of ministers in states become eligible for government pension after less than 5 years of service! I remember an earlier occasion when employees unions in RBI took up the case for improvement in the family pension of the spouse of a retired Deputy Governor. High time RBI overhauled and professionalised the central bank's HR department picking up a lesson or two from corporates like Tatas or at least by following central and state government norms in staff welfare measures. Neglect of the basic needs of staff and families affects the morale of workforce in different ways. M G Warrier Mumbai *Published on December 27, 2022 : https://www.thehindubusinessline.com/opinion/letters/letters-to-the-editor/article66308151.ece Bonus Madras Courier Temple Art https://madrascourier.com/insight/the-magnificent-art-sculpture-of-virupaksha-temple-in-hampi/ F Faith/Spirituality Dr Charan Singh https://twitter.com/CharanSingh60/status/1606718280345223174?t=5PJaUEPGWK9TFxgBJJGpww&s=08 Unity in Diversity - 476 इहु मनूआ अति सबल है छडे न कितै उपाइ दूजै भाइ दुखु लाइदा बहुती देइ सजाइ Mind is very strong: It does not leave despite various efforts Gets distressed attaching to others (vices) & then is condemned to severe punishment Guru Amardass, Srirag, 33, SGGS G Quotes on New Year 2023 https://routinelynomadic.com/short-new-years-quotes/ H Collage Back Cover A GRATEFUL THIEF* I am a poor retired Bank Officer. I planned a visit to our native place in Ratnagiri for few days along with my wife.. We have one son and two daughters who are married & living with their family in distant cities. However, none of them were there to look after our house when we proceeded on tour. Therefore, we were afraid that, if a thief broke into our house, the house would be ransacked, maliciously damaged if he rummages through boxes, cupboards & cabinets & the thief could damage our stuff if he gets frustrated at not finding any money. So, on humanitarian grounds & keeping with my principle of natural justice for the oppressed, I decided to keep one thousand rupees in cash on the centre table & left a small note for the thief : " Dear Chor Saheb, I Feel really sorry that You have to work so hard at odd hours to earn a livelihood subjecting yourself to so much risks.. I am a middle class Bank retiree, we live on a meagre pension, which is yet to see a raise despite the rise in inflation. We don’t have any cash at home. Its unfortunate that of all the luxurious houses You finally took the strenuous effort of visiting our humble house. However, I am afraid that you might have wasted your time, energy & effort.. So respecting your risky profession, I have set aside Rs 1,000/- for you as a working trip gift. There is a piece of leftover cake & half a bottle of wine in the fridge just in case you are feeling hungry & thirsty.. Dear Chor Saheb, If you wish to expand your harvest & have a risk taking appetite I can share some vital info.. on the eighth floor in the opposite high rise building lives a rickshaw driver turned political leader, On the seventh floor is a corporator of municipality of a ruling party, On the sixth floor in B- wing lives the right hand man of a local 'Bhai', on the fifth floor is the house of Vibhag - Pramukh and on the fourth floor a prominent Hawala Dealer. They have plenty of cash & in case of theft, they are wise enough not to report to the police. Wish You all the Best.. I wish you a fruitful harvest..👍 Take care.. A month later, when we came home, I was pleasantly surprised to find that there was Rs.1,00,000/- in cash on the centre table & a hand written note : "Thank you my dear poor banker for your invaluable tips.. The mission was successfully accomplished & the harvest has been sweetly fruitful. So, as a token of appreciation I leave Rs 1,00,000/- for YOU to express my heartfelt gratitude. In the fridge I have left a chocolate cake, 1 kg dry fruits & two bottles of black label..I hope You will continue to share more such lucrative tips in the future. Thank You for such valuable intelligence inputs for better economic development of the downtrodden. Seasons greetings. *Forwarded By R Jayakumar