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Showing posts from May, 2023

RBI's role in climate change

RBI's role in climate change This refers to your editorial "Tilting at windmills" (The Hindu Business Line, May 29). The analytical approach to the content of the Report on Currency and Finance is interesting. RBI is known for loud thinking in its periodic publications on subjects not directly connected with the core functions of the central bank. Reasons are obvious. Monetary Policy and the Financial System RBI regulates and supervises, in one way or the other affects all aspects of the nation's economy. But any thought that the central bank can be involved directly in influencing climate change is far fetched. Of course while chanelising credit flow RBI can play a proactive role by restricting credit to sectors harmful to environment. M G Warrier Mumbai

Boycott by opposition

The Editor The Hindu Business Line Letters May 25, 2023 New Parliament building Many of the opposition parties have announced their intention to boycott the inauguration of the new Parliament building. This is not surprising as functionally opposition in Indian legislatures are known for frequent walkouts after disruption of the proceedings. Historically we never allowed a proactive or creative opposition to grow in India. Resultantly, though we followed parliamentary system of democracy institutionalising the democratic system from top to bottom, upto local self government level, the opposition took on itself the "mandated" role of opposing government at every level and on every issue. The boycott of the inaugural function of the new Parliament building is symbolic of the inherent urge to oppose the government of the day. Just for a moment, imagine, the Prime Minister decides to jointly inaugurate the new Parliament building along with the President. Then the op

On the other side

On the other side Sent two versions of this message to two newspapers. They didn't publish. May 25, 2023 New Parliament building Many of the opposition parties have announced their intention to boycott the inauguration of the new Parliament building on May 28, 2023. This is not surprising as functionally opposition in Indian legislatures are known for frequent walkouts after disruption of the proceedings. Historically we never allowed a proactive or creative opposition to grow in India. Resultantly, though we followed parliamentary system of democracy institutionalising the democratic system from top to bottom, upto local self government level, the opposition took on itself the "mandated" role of opposing government at every level and on every issue. The boycott of the inaugural function of the new Parliament building is symbolic of the inherent urge to oppose the government of the day. Just for a moment, imagine, the Prime Minister decides to jointly inaugurate

Recall of 2000 rupees notes

Recall of 2000 rupees notes The article "Rs2000 note recall, the right move" (The Hindu Business Line, May 24) is comprehensive in explaining the rationale for the measures taken by GOI and RBI to minimise the abuse of hard currency for purposes for which they are not intended. If any assets including hard currency which can be used as "store of value" are used by citizens for speculation or creating imbalance in the economy or financial system, lawmakers and regulators are dutybound to intervene and take corrective action. While there was some inadequacies in planning and execution of the massive demonetisation exercise of 2016-17, RBI has handled with care the withdrawal of pre-2005 currency notes. There's no reason to doubt that the gradual replacement of two thousand rupees notes introduced as a need-based interim measure in 2016 will have any roadblocks as these notes today form only a small percentage of currency in circulation. More sensitive pocket

Warrier's Collage on Sunday May 21, 2023

Welcome To Warrier's COLLAGE On Sunday May 21, 2023 Good Morning. Happy Birthday to all readers having Birthday during the week ending on Saturday May 27, 2023. Ayurarogyasaukhyam ๐Ÿ™ and Best Wishes to all. Nice Day M G Warrier A Collage Videos of the week Lekshmy Vilas Palace https://youtu.be/uqC4MGTKd4g Kanapram Mana Kannur https://youtu.be/nL7bU9rVRc4 B Messages/Responses 1 E X Joseph See E1 (About my grandson Vihaan's admission to West Bengal School of Jurisprudence in 2023-24) Hearty Congratulations to Vihaan. Well done. It is a good school. He must be brilliant and talented like his mother. All our best wishes to shine in the professional study that he will start very soon, may be July. Thank you for sharing. (Your blessings are precious. Conveyed. Regards ๐Ÿ™-Warrier) 2 C V Subbaraman The Bias of international rating agencies against India development and growth. This is not new. We can meet them. If someone says, X is not credit worthy, ok. Bu

Media Response : Protect professionals

May 17, 2023 Protect professionals After the tragic incident which resulted in the gruesome murder of Dr Vandana Das, I have been keenly following the responses of government and the media interactions on the genuine demands of doctors for security at workplace. Reports of attacks on medical staff in the past and even after this incident points to the need for immediate corrective measures. It seems security of all hospital staff as a scientific discipline is not in practice. Doctors and nurses particularly, work coping with the huge rush of patients and bystanders. Organising foolproof security in all the hospitals may not be achievable. In this scenario doctors on their own (may be through their Associations like IMA) have to formulate systems for themselves, even creating hospital-specific special funds which could be augmented by government/public contributions, to supply to all doctors on duty, equipments such as panic button alarms with connectivity to police and sec

Warrier's Collage on Sunday May 14, 2023

Welcome To Warrier's Collage On Sunday May 14, 2023 Friends Today is Mothers' Day. Happy Mothers'Day. If mothers are happy families are happy. If families are happy, society is happy ๐Ÿ™ Happy Birthday to all readers having Birthday during the week ending on Saturday May 20, 2023. Ayurarogyasaukhyam and Best Wishes ๐Ÿ™ to all. Nice Day M G Warrier A Messages and Responses 1 E X Joseph See F1 My dear Warrier, You are always in my thoughts. We both have been reading your Collage We also know that you had to stop it. You both must be in TVM and Reshmy must be in Mumbai. Thank you very much for remembering and sharing in Whatsapp I am thrilled to see the living words. Thank you again. Perfect on Mother's day. ..though everyday is a Mother's day, ๐Ÿ’ please convey our wishes to Mrs. Warrier & Reshmy. You are an embodiment of spirituality. All the words I wrote for you are deep in my heart forever. Love and best wishes to all of you. 1 M

Mothers' Day 2023

Happy Mothers' Day Mothers' Day 2023 is on May 14, 2023 : https://indianexpress.com/article/lifestyle/life-style/mothers-day-2023-date-history-significance-and-importance-8575610/ https://currentaffairs.adda247.com/mothers-day-2023/

Government as borrower

Government as a borrower This refers to the article ‘WMA: Fixing a tool that has gone haywire’ (The Hindu Business Line, May 11). There may not be any questions over the central bank’s role as banker to the government. The problem of transparency in the terms of lending arises when the borrower dictates the terms. Long back, SS Tarapore had famously asked: “Ever heard of the borrower deciding the terms of lending?” The government seems to be taking the central bank for granted. Such a situation doesn’t augur well in a situation where fiscal policies are more and more getting influenced by political expediency. MG Warrier Mumbai *Published in The Hindu Business Line in the print edition on May 12, 2023

Wednesday Quotes: Midweek Break

Wednesday Quotes https://lovewordings.com/funny-wednesday-quotes/

A poem by Major Haripad Sankara Warrier

An Unknown Poet of twentieth Century- Major Haripad Sankara Warrier M G Warrier While rushing through my collection of books for disposal as we were vacating our Thiruvananthapuram house for letting out and didn't want to carry major portion of the collection to Mumbai which again may turn out to be a temporary refuge, among a few books which had come to me as gifts of love and affection I picked up for holding on. The 52 page book titled "Kavanatharangini" a collection of fourteen short Malayalam poems by Major Haripad Sankara Warrier is the book on my table today. The author is father of Shri C S Viswanatha Warrier who was my colleague in AG's Office Thiruvananthapuram during 1964-68 and continued to be my friend, philosopher and guide since then until he left us a few years ago and still continues to occupy that space from the other side of the screen even today. To give you a feel of the depth of the content, a free translation of one of the poems "Samaswa

Case for ban on private arms

Media Response Copied below is my response to a report in The Hindu today: M G Warrier Letters May 8, 2023 Case for ban on private arms This refers to the report "Gunman kills eight persons in shopping malls in Texas" (The Hindu, May 8). One may not link such insane behaviour of individuals with availability of arms or the efficiency of security systems. But frequency and the repeated occurrence of such incidents in and around the same geographical locations should signal the need for more caution about availability of arms and the legitimacy of their use by private individuals. The casual approach of the media to such tragedies is intriguing when a wild elephant moving out of the forest and a movie portraying unacceptable social behaviour gain long shelf life in world news. Reports indicate per capita ownership of firearms in US has crossed 100 for 100 individuals. This should be seen also as a measure of sense of insecurity among citizens in the oldest dem

Warrier's Collage May 2023

Welcome To Warrier's COLLAGE Random Edition May, 2023 Friends Happy Birthday to all readers having Birthday this month. Govind Kiran, my grandson, celebrated birthday on Saturday May 6, 2023 leaving his minor status behind. Best Wishes ๐Ÿ™ to him. Do save this edition of Collage for sharing and reading when free. Nice Day M G Warrier M 134 A Messages and Responses 1 V Babusenan Thiruvananthapuram Books with the same title (Ref C below) I read out Shri Warrier's message to my wife. My grand daughter, who heard this, left the room and, after sometime, came back with a handful of books. "Tell uncle we have many such books." I told her with a smile : "Neenu, these are unsold copies of books written by your grandpa. What uncle wants is information about books written by different persons". We had a hearty laugh. (Me too had such collections. Hopefully, last month, some have reached the roadside second hand books"markets" near Palayam,

An elephant's plea for justice

An Elephant's plea for justice (In lighter vein) Draft Petition on behalf of Vanaraja alias Arikkomban before the People's Court by an elephant lover : Tรณ whomsoever it may concern Elephant lover circulates this draft petition with no copyright claims with the intention of supporting and if possible saving Vanaraja alias Arikkomban and any other similarly placed animals anywhere in the world. My client Vanaraja alias Arikkomban being an animal is not subject to any laws applicable to human beings as animals were never part of the law making process. Law enforcement agencies including courts have no rights whatsoever to make any observations or initiate any proceedings against my client for the same reasons. As my client has never been served any notice in this issue, it is prayed that my client's name may be removed from all orders and proceedings with immediate effect. If this is not possible for any reason, my client may be allowed to appear before the authorities i

May Day 2023

May Day 2023 https://www.livemint.com/news/india/international-labour-day-2023-history-significance-and-all-you-need-to-know-11682904286099.html International Labour Day or May Day is celebrated every year on May 1 in a bid to promote the rights of working class and prevent them from exploitation It is also known as May Day. Maharashtra Day Celebrations https://www.livemint.com/news/india/maharashtra-day-2023-history-significance-and-wishes-to-share-with-your-loved-ones-11682901296498.html M G Warrier

Depositors' interest

May 1, 2023 Depositors' interest This refers to the report "Don't increase unsecured loans exposure: RBI to banks" (The Hindu Business Line, May 1). The concern of the banking regulator is real. Many of our banks have just crossed over the NPA bumps, some safely and others still in the recovery rooms. Even a high level of secured loan portfolios didn't help Indian banks didn't help the banks which went agressive in lending to big borrowers or used conduits like SHGs and NBFCs for reducing costs in keeping NPAs within acceptable limits during the last decade. Beyond putting restrictions on unsecured loans, Government and RBI at this stage may have to overhaul the whole architecture of microfinance and put in place transparency in loan procedures, introduce supervisory and regulatory controls on the appraisal systems adopted and rates of interest charged by lenders including banks. A comprehensive and compulsory insurance system to protect the borrowers'