Random Reflections- Act of God and Banking
Ms. Nirmala Sitharaman’s statement that Covid-19 is an act of God to deprive states and union territories of their legally due GST has led to lot of discussions. While the central government in a...
Random Reflections- Cheating the Street Vendors and the Public- The Finance Ministers way
Remember the Atma Nirbhar – TV Show of Mrs. Nirmala Sitaraman and Mr. Anurag Thakur? After that, both have disappeared for long. May be rehearsing for the next show. Mr. S.Gurumurthy has announced that...
Random Reflections; Privatization of Public Sector – Withering of the State?
We just celebrated the 74th Independence day. On the Midnight of 14th August 1947, Pandit Jawaharlal Nehru while addressing the Constituent Assembly in his famous speech, “Tryst with destiny”, underlined that the service of...
Random Reflections- How & why Manmohan Singh was wrong then & wrong now?
On 24th July 1991 Dr. Manmohan Singh presented his budget to the parliament in which he stated that until November 1989 when his Congress party was in office the economy was doing well but...
Random Reflections: Why India needs Five Day Week?
India is a country of youth now and we are proud of it. It provides us a great opportunity. The youth not only need employment but also work life balance. Joint families are gone....
Random Reflections- Solutions for the Banking Sector
“Call the dog mad and shoot it” was the old slogan. The present slogan is, “poison the dog, make it look like mad and shoot it”. The governments have done exactly the same with...
Random Reflections- Privatisation of Financial Sector – A road to ruin
Almost all financial newspapers have informed that 3-5 banks and 3 general insurance companies are going to be privatized. They have indicated that Bank of India, Indian Overseas Bank, UCO Bank, Punjab and Sind...
Random Reflections: 51 Years of Bank Nationalisation – Was it a sin? A vision? A missed opportunity? & What’s today’s position?
Nationalisation of the banks which had deposits above Rs.50 Crores, covering almost 85% of the total deposits on 19th July 1969 was historic, dramatic and welcomed by majority of the people. Some described it...
Random Reflections- RBI Discussion Paper on Governance in Commercial Banks in India – Old wine in New bottle!
Reserve Bank of India has released a discussion paper on their website on June 11, 2020 asking for suggestions and comments latest by July 15, 2020. The time given is not enough and it...
Random Reflections- Are the Public Banks Already Private?
Institutions do not become public only because of ownership by the state. They should serve the people at large who are the real owners. While nationalising banks, the purpose was not to earn profit...
Random Reflections- Loan Melas Are Back. Bankers Going to be in the Receiving End
The Hindu reported on 22nd June 2020 under the caption, ‘TN BJP creates website to help people get bank loans under central schemes’ saying that the TN state unit of BJP has set up...
Random Reflections- Digital Frauds on the increase. Do our Banks have a Safe Security System?
Everyday hundreds of digital frauds are reported in the banks Internet Banking, ATMs, mobile banking etc. This is going on for years and seldom anybody is caught. Even well-educated are cheated. The cyber frauds...
Random Reflections- Bank Loans; Many a slip between the Cup and the Lip: AIMO Survey Results
All India Manufacturers’ Organisation founded by Bharat Ratna, Sir M. Visvesvaraya in 1941 represents the MSMEs in the country. With the initiative of Shri K.E Raghunathan, immediate past president of the organisation AIMO has...
Random Reflections- How Banks in India have contributed to Inequality?
As per Oxfam Inequality Report 2019, India’s bottom 60% have 4.8% of the wealth whereas the top 10% own 77.4% of the wealth. The bottom 60% have only 5.1% of wealth whereas the top...
Random Reflections- Is India’s Banking Sector Moving Towards a Melt Down and Financial Collapse?
Bank’s performance is always the reflection of the country’s economy. Though results are not out for the financial year 2019-20, analysis shows that many banks will be showing a huge loss. The last quarter...
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