MY VIEWS IN TIMES OF INDIA ON BANKS CHARGING HIGH PRICES ON PRODUCTS

The Times Of India Story on 31.12.12: RBI cautions banks charging high prices on products. 

Comments of Milan K Sinha (Patna, India)
31 Dec, 2012 10:31 PM

"Reserve Bank deputy governor K C Chakrabarty has rightly cautioned the Banks against charging high and discriminatory prices on products. We all know that the Central Govt. and RBI had granted lots of autonomy and discretion after the onset of policy of liberalisation in Indian Economy to empower the Banks to take important decisions in order to implement customer friendly initiatives and give a natural boost to its overall business in an efficient and profitable manner. As a result, during the last two decades, the banking in the country effected many changes in its operational model with state of art technology as the major game changer. But, the core issues like pricing of both deposit as well as credit products together with various charges, hidden and un-hidden both, have not been or couldn't be addressed in a sincere and genuine manner to make the banking operations really inclusive & customer friendly. No doubt, the cost of operation in our banking is still reasonably high for multiple reasons, both controllable and non-controllable. If one goes through the expenditure items in profit & loss account of our banks, the areas of wasteful and avoidable expenses can very well be observed and hence can urgently be taken care of. The issue of NPA management has been a perennially serious concern area which has deteriorated further with more severity during the last few months in this fiscal. Consequently, the NIM (Net Interest Margin) is under increasing pressure in case of majority of banks in the country. These factors naturally have a definite bearing on the pricing of products. And on top of it, the discrimination in pricing is adding fuel to fire which must be stopped forthwith by initiating suitable measures by the regulator. In fact, the Central Govt. and RBI have enough room for addressing the grey areas in our banking system which is, otherwise too, urgently needed in order to improve the overall health of banking and also the economy of the country."

                                           Will meet again with Open Mind. All the Best.

P.S: To view full story, pl. click on the link

* Do visit my site : http://www.milanksinha.com/

MY VIEWS IN TIMES OF INDIA ON COUNTRY'S EDUCATION SYSTEM

The Times Of India Story on 28.12.12:  Country's education system burdened with demands of quantity, quality: President Pranab Mukherjee

Comments of Milan K Sinha (Patna, India)
28 Dec, 2012 11:46 PM

''It is good that the President has voiced his concern over the state of quantity and quality of education, particularly higher education in the country.Undoubtedly, the way a large number of colleges and universities have mushroomed during last one decade in the country within the revised guidelines of UGC and AICTE in the name of providing opportunities of pursuing higher education to more number of students without ensuring the basic prerequisite of establishment of such private institutions, it is bound to have an adverse impact on the quality of higher education. We are now noticing that many engineering and management colleges are putting their shutters down much to the embarrassment of students who sacrificed lots of money to have better & higher education to qualify for  better jobs in the market. The Govt. at the centre and the states, by and large, failed to protect the interest of students as all the malady we have been talking about, has crept in the education space under their nose. I wish and request our President to direct the Govt. and concerned regulatory institutions to revisit the whole issue of providing higher education to millions of students, whether eligible or ineligible, willing or unwilling, when even the elementary education in the country is in shambles even after 65 years of independence. Here, it would be interesting and thought provoking to go through some of the facts as far as the state of elementary education in the country is concerned despite RTE Act, 2009: 1) Presently, more than 5 lakh post of teachers are vacant; 2)To bring the pupil-teacher ratio to 30:1 as prescribed by the RTE Act, 5.1 lakh additional teachers are required; 3) Among the existing teachers, more than 7.5 lac teachers are reported to be untrained who need to acquire necessary qualification within five years of the RTE Act coming into force; 4) Assam, Bihar, Chhattisgarh, Jammu & Kashmir, Jharkhand, Uttar Pradesh and West Bengal are some of the states having untrained teachers ranging from 25% to 55% of their total teacher population; 5) Dropout rate is still a major cause of concern, the main reasons being : Prevalence of child labour as means to supplement parents' income, poor management of Mid-Day Meal Scheme, lack of adequate infrastructural facilities in schools etc.''

                                          Will meet again with Open Mind. All the Best.

P.S. : To view full story, pl. click on the link 

MY VIEWS IN ECONOMIC TIMES ON I-BANKERS & ON PRIORITY SECTOR LENDING

Economic Times Story on 20.12.12: I-bankers no better than matchmakers: UK Sinha, Sebi chief 

Comments of MILAN K SINHA (PATNA)
20 Dec, 2012 07:00 PM

The issues raised by SEBI chief deserve to be complemented, further deliberated and finally addressed by initiating matching actions to make and keep the primary market investment friendly for retail investor. In our country, the equity market in itself is not the sought after investment destination for large section of middle class people who, though wish to associate with the market, yet is apprehensive of losing even his hard earned principal amount. The transparency, objectivity, data integrity etc. which should be the hallmark of any progressive, dynamic and investor friendly primary equity market can be put in place with more seriousness by the collective efforts of promoters of IPO company, investment bankers, equity traders/brokers, market watchers/analysts, auditors/statutory bodies and above all SEBI authorities. We all know that no IPO can withstand the test of the dynamic equity market until and unless having strong fundamentals besides strict compliance of norms of the capital market regulator. The merchant banker can't simply shift the blame to others for any wrong doing as every functionary is expected to perform its duty with due diligence and prudence to ensure safety of investors money and consolidation of investor confidence in the market.

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Economic Times Story on 20.12.12: Govt needs to revisit priority sector lending policy for more effective financial inclusion

Comments of Milan K Sinha (Patna, India)
20 Dec, 2012 10:00 PM

The Govt. must revisit its policy of Priority Sector Lending(PSL) by Indian Banking Sector to make it more inclusive and effective for ensuring sizable contribution of Agriculture & MSME to overall GDP growth of the economy in coming years. Dwindling growth of Agriculture over the last couple of years is a real cause of concern not only for the food security of the country but also for the well being of majority of our population who are still dependent on agriculture and allied activities for their livelihood. Similarly, to sustain and further improve the growth rate of MSME sector is very necessary for employment generation as well as balance growth of our economy which is passing through a rough weather for quite some time. Constant monitoring of PSL figures of Banks by RBI atleast on month to month basis together with its discreet checking and analysis to ensure data integrity and correctness is a must for directing individual Banks for achievement of set targets suitably. NPAs in PSL can very well be contained by need based lending with prudence and transparency. The Govt. machinery must also come forward to help disburse the farm loan etc. by granting various certificates quickly and genuinely wherever required and also lend active support in the recovery efforts of lending institutions. Moreover, as a ground reality, it is easier to recover loans in rural areas as the rural people are still comparatively honest in repaying their loan dues.

                                      Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON INDIA'S LIFE INSURANCE SCENE

Economic Times Story on 19.12.12 : Standard micro-insurance products to hit market soon

Comments of MILAN K SINHA (PATNA)

19 Dec, 2012 11:56 PM

It is heartening to know that standard micro-insurance products are proposed to be launched soon and IRDA is considering such proposals with interest. IRDA's proposal for having 10 standard products in the market is also a welcome move. But the question is : why IRDA couldn't initiate such normal measures in the past and how it will guarantee that that its current proposal is going to be a reality in days to come? It is really a pity that institutions after institutions which have been established to safeguard the constitutional rights of every Indian, particularly those who have been economically and socially disadvantaged for decades , are not performing their duties as per the laid down norms and principles. If the Insurance sector in the country is not in good shape despite huge insurance potential and lot many players armed with state of art technology to tap the business, the players and their controllers are to share the responsibility of this discouraging situation. Industry watchers and media too didn't pay due attention on the going-ons of this sector closely to identify and indicate the wrong doers for rectifying the errors immediately . To say, serious introspection is the need of the hour at all levels to have standarised products and processes in entire insurance sector to take care of the insurance needs of common man in a sincere and honest manner.

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Economic Times Story on 18.12.12 : Life insurance policy sales fall 8.22 pc in FY'12: Government

Comments of MILAN K SINHA (PATNA)

18 Dec, 2012 08:44 PM

The fall in Life Insurance business during last fiscal in our country is a serious cause of concern for many reasons. We have as many as 24 players in the life Insurance space with giant LIC leading the show. It is a known fact that Life Insurance is the need of every Indian family, particularly the large population of common man and is a prerequisie for ensuring financial inclusion in real sense of the term. To say, we have a huge population who are still to be insured- to be specific, only 20% of total insurable population in the country is covered under Life Insurance schemes; Life Insurance sector is a big opportunity area - the fifth largest Life Insurance market in the emerging insurance economies globally and the Life Insurance penetration in India is only 4.40%. Then why this depressing growth story? It is because of lack of customer friendly environment in Indian Insurance market coupled with frequent but not well thought of interventions by the Govt. and the regulator. The large scale mis-selling of policies which has been the outcome of lack of proper mechanism for controlling and monitoring this important sector of the economy. The service issues have been very serious in this sector. Now, its time to have sincere introspection by all concerned including Govt. and IRDA to do the needful to bring the large uninsured population within social security net by offering affordable policies with proper service bench marks.

                                             Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON CASH TRANSFER & ON AFFORDABLE HOMES

Economic Times Story on 17.12.12 : We don't agree with the cash tranfer scheme: Mamta 

Comments of MILAN K SINHA (PATNA)
17 Dec, 2012 07:44 PM

The West Bengal Chief Minister is right when she questions the cash transfer scheme without having a full proof mechanism of doing so. It is like putting the horse before the cart. There is no doubt that every one would like the poor masses to receive the benefit of subsidy in a real sense which unfortunately could not happen despite knowing the large scale mal-practice being perpetrated at the ground level with full knowledge of all administrative functionaries and in majority of cases with full involvement of local implementing machinery. Still, the identification of genuine beneficiaries as per the Govt. guidelines is a major area to be taken care of meticulously through out the country. Providing Aadhaar Cards and opening Bank Accounts are other two areas which also need serious attention and constant monitoring. We can't and shouldn't afford to end the existing malady in subsidy delivery mechanism by introducing another scheme by whatever name in a half baked and ineffective manner. After all, every such scheme which involves lacs of crores of public money shouldn't be accepted and appreciated only because it is likely to prove the game changer for X or Y party in the coming elections.

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Economic Times Story on 15.12.12 : Homes no longer affordable: Will builders offer pre-launch benefits?

Comments of MILAN K SINHA (PATNA)

15 Dec, 2012 07:32 PM

It would be better for all concerned including the Govt. to look into the factors which can push the demand for affordable house in this sluggish market. The whole issue of housing loans to middle class segment is also to be revisited keeping in view the interest & EMI factors and also mechanism for handing over flats/houses to the loanees within promised time for obvious reasons. Undoubtedly, housing is the priority of everybody, more so for the middle & lower income people but the realty firms in the country couldn't make proper assessment of segment wise demand supply scenario keeping in mind the affordability factor. They failed to appreciate that takers of high cost properties are limited in our country, particularly when the housing loan interest rate has been higher and so has been the inflation. In fact, the demand for low cost simple dwelling units with basic facilities is still high in many big cities, what to talk of tier -II cities in the country. Under the circumstances, rationalisation in prices of existing properties together with constructing & offering new ones keeping in view the affordability status of larger population would keep the show of real estate business going without much hiccups in coming years.

                                           Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON OLD AGE INDIANS & ON MUMBAI'S SANITATION STATUS

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.14.12.12 07:52 PM

Dear Reader,
Your comment on the article ''Indians now live longer, but in poor health in old age: Study'' is now displayed on timesofindia.com.

''Without doubting the veracity of the findings of the study in question, it can be said that its a good news , particularly for policy makers and ruling political class as this kind of news provides them the opportunity to justify the actions governing the country. In fact, majority of Indian population is still living in 65 year old Independent India without even having the basic needs of life such as food, clothing & shelter. Despite our claim to have adequate food grains to feed the poor and downtrodden, more than 25 lac fellow countrymen die of hunger every year.Here, It is quite pertinent to see what United Nations & Indian Constitution promise: United Nations Universal Declaration of Human Rights (U.N.1948) Article 25 states,"Everyone has the right to a standard living adequate for the health and well being of himself & his family, including food."Article 21 of the Constitution of India, 1949 states,"No person shall be deprived of his life or personal liberty except according to procedure established by law."Article 47 of the Constitution of India, 1949 states,"The State shall regard the raising of the level of nutrition and the standard of living of its people and the improvement of public health as among its primary duties.." We all know that in spite of better GDP growth during last few years, the quality of life of common mass has not improved. The per capita income & so the purchasing power of common Indian is still much lower than what it is in China and in other BRIC countries. It is basically the old Indian life style of simple living within the limited means which has been helping the poor masses to manage their life even in difficult times. If the issues related to health, education, sanitation etc. were taken care of as per the provision of constitution and the electoral promises by the Central as well as State Governments, the life expectancy would have been really much higher with far better living status in the old age.''

Thanks for sharing your thoughts.
Regards,Team TOI
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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.14.12.12 11:55 PM

Dear Reader,
Your comment on the article ''Mumbai among world's 'dirtiest' cities: Survey'' is now displayed on timesofindia.com.

''Mumbai has been famous as the commercial capital of India.Obviously, it has been the head quarter of many Corporate & Business houses, Banks, Insurance Companies, Govt. offices, Educational Institutions etc. for decades and so has been the place for Bollywood studios and its stars. In the name of town planning, development of infrastructure and beautification of the city, thousands of crore must have been spent , but if one goes little inside the suburbs of Mumbai, the justification of the finding of the survey in question can very well be appreciated. You can yourself see a poor Bharat and a shining India residing side by side in Mumbai. The dirt & filth you find by the side of busy roads besides serious sanitation problems in and around bigger as well as smaller slums spread all over Mumbai will testify the inadequacy of proper planning and effective administration. The rainy season is the best time to see the pitiable condition of the city and its common man. No doubt, these problems can be addressed to make the city far better than what it is today by collective efforts of the civil society and the Govt. The Corporate Houses too are required to perform their role under CSR(Corporate Social Responsibility) or otherwise in a pro-active manner.''

Thanks for sharing your thoughts.
Regards,Team TOI

                                     Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON VRS IN AXIS BANK & ON GIFT OF LIFE AFTER DEATH

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.12.12.12 10:09 PM

Your comment on the article ''Axis Bank plans voluntary retirement scheme to cut flab at top'' is now displayed on timesofindia.com.

''To dream and think of having a leaner and younger organisation in Indian Banking space with an aspiration to be the Bank of choice is understandable, but to embark on a short cut path for fulfilling this dream by such measures as trimming the workforce by offering VRS with additional benefits in the name of cutting establishment cost doesn't seem to be a thoughtful decision. The Indian Banking has been different & will continue to be different from the the Banking of Europe or America for many cogent reasons and hence the entire gamut of banking is to looked at from basic Indian perspective. Ms. Sharma who is 53 plus and has  her first top assignment in Banking as CEO of Axis Bank must appreciate the value of relationship in Banking, particularly Indian Banking. We would agree, Banking is not only beautiful premises, files, furniture, computers & electronic gadgets but also (rather more important) its own knowledgeable, motivated, enthusiastic, committed, motivated & loyal staff who makes all the difference in the balance sheet of the bank and creates a brand image in the market by adding more and more satisfied customers for the consistent growth of business year after year. And the senior level personnel in the age group of 35 to 50 are the ones who by their reasonably long experience and knowledge of the trade and market are best suited to plan and perform as team leaders. Moreover, when Banks like Axis Bank has to plan expansion in view of increasing the market share by penetrating the smaller cities & bigger villages with added responsibility of sharing the task of financial inclusion as per the directives of the regulator, it is all the more necessary to have matured people with banking experience at the senior level. Yes, dead woods and non performers must be weeded out by having a defined HR policy on an on going basis without incurring additional cost on VRS etc.''

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.12.12.12 11:57 PM

Your comment on the article ''21-year-old leaves gift of life for 34'' is now displayed on timesofindia.com.

''Undoubtedly, Anmol's accident was a terrible blow, emotionally and otherwise too, for his family, but the sense of bravery and social/human concern his parents and relatives have shown at this trying time is hugely praiseworthy and worth emulating by large section of society. This is going to be the larger than life example of living after death. The Govt. authorities and top medical functionaries in the country must also take a lesson from this incident and do everything possible to develop infrastructure in all cities in the country to ensure harvesting of usable organs in such circumstances and transplanting them in the bodies of matching recipients.''

                                             Will meet again with Open Mind. All the Best.

# Do visit my site : milanksinha.com

WHITHER ELEMENTARY EDUCATION ?

                                                                                - MILAN K SINHA
 "Teach the children so that it will not be necessary to teach the adults" - Abraham Lincoln

     

During last one decade, two major initiatives were taken by the Central Govt. for universalisation of elementary education in the country. It was under the Prime-minister ship of Atal Behari Vajpayee, the famous Sarva Shiksha Abhiyan (SSA) was launched and Right to Education Act 2009 was passed  during the present Central Govt. headed by Prime Minister Manmohan Singh. The other milestones in the direction of making the elementary education accessible to all children up to the age of 14 years after independence till the end of last century were Constitutional Mandate of 1950, National Policy of Education'1986, Supreme Court's historic Unnikrishnan Judgement, 1993 etc. 

          The aim of Sarva Shiksha Abhiyan(SSA) has been  to bridge social, regional and gender gaps, with the active participation of the community in the management of schools. All efforts to support pre-school learning in ICDS centres or special pre-school centres in non ICDS areas are made to supplement the efforts of the Ministry of Women and Child Development. The objectives of SSA  programme has been  an endeavour to provide an opportunity for improving human capabilities of all children, through the provision of community-owned quality education . 

    

    Right of children to Free and Compulsory Education Act (RTE Act, 2009)  which came into force  from 1st April,2010 provides for free and compulsory education to all children of the age of six to fourteen years . As per the provisions of the Act:

• All children  in the age group of 6-14 years will be provided 8 years of elementary education in an age appropriate classroom in the vicinity of his/her neighbourhood. 
• Any cost that prevents a child from accessing school will be borne by the State which shall have the responsibility of enrolling the child as well as ensuring attendance and completion of 8 years of schooling. 
• No donation and capitation fee is allowed. No admission test or interview either for child or parents will take place.
• A fixed student and teacher ratio is to be maintained.Norms for teachers training and qualifications are also clearly mentioned in the Act.
• All private schools shall be required to enroll children from weaker sections and disadvantaged communities in their incoming class to the extent of 25% of their enrollment, by simple random selection. Govt. will fund education of these children. No seats in this quota can be left vacant. These children will be treated on par with all the other children in the school. 
• All schools will have to adhere to the norms and standard prescribed in the Act, failing which penalty will be levied and other actions to be initiated.
• Norms and standards of teacher qualification and training are to be  laid down by an Academic Authority. 
• The National Commission for Protection of Child Rights (NCPCR) has been mandated to monitor the implementation of this historic Right. NCPCR to invite all concerned including civil society, writers, media, members of the judiciary etc. to come forward  to join hands for working  together to build a movement to ensure that every child of this country goes to  school and are enabled to get at least 8 years of quality education.

     We have seen that both  SSA and RTE Act  put lots of  emphasis on  universalisation of education at the elementary level, but it would be interesting to know the ground realities which speaks clearly that there is an urgent need to make the implementation mechanism very effective at the base level to ensure fulfillment of the promises made to achieve the pious goal:  

• Approx 20 crore children fall under the age group 6-14 years. 
• About 80% of all recognised schools imparting elementary education in the country are  Govt. schools(either Govt. run or supported)
• Out of total schools in the country, about 87% schools are located in rural areas.
• Presently, more than 5 lakh  post of teachers are vacant. 
• To bring the pupil-teacher ratio to 30:1 as prescribed by the RTE Act, 5.1 lakh additional teachers are required. 
• Among the existing teachers, more than 7.5 lac teachers are reported to be  untrained who need to  acquire necessary qualification within five years of the RTE Act coming into force.
• Assam, Bihar, Chhattisgarh, Jammu & Kashmir, Jharkhand, Uttar Pradesh and West Bengal  are some of the states having untrained teachers ranging from 25% to 55% of their total teacher population. 
• Although Govt. schools provide free education, yet various surveys point out the growing trend of sending the children to private schools  even  by parents  coming from low income group. 
• Enrollment in schools improved substantially, but dropout rate is still a major cause of concern, the main reasons being : Prevalence of child labour as means to supplement parents' income, poor management of Mid-Day Meal Scheme, lack of adequate infrastructural facilities in schools etc.

                                                     Will meet again with Open Mind. All the Best.
# Published in Bihar Times (Link)

* Do visit my site : milanksinha.com

MY VIEWS IN TIMES OF INDIA ON CAR NUMBERS & ON RESOURCE EFFICIENCY

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.07.12.12 10:01 PM

Dear Reader,
Your comment on the article ''Nobel winner calls for check in car numbers'' is now displayed on timesofindia.com.

''Nobel Prize Winner Renowned Environmentalist R K Pachauri has observed very rightly on the issue of growing number of cars which is  adversely affecting the pollution level, congestion and road accidents. The concern of the central minister is also understandable. In fact, the discussion on these issues have been taking place in one or the other forum, some decisions have also been taken but at the implementation level there is lot to be done. In the mean time, problem has grown to an alarming magnitude and is deteriorating very fast. If we consider only the rising level of air pollution in our country, particularly in cities like Delhi, the problem can be well appreciated. Air pollution is causing almost 6.5 lac deaths annually in our country. Even far greater population suffers from lung infections, breathing problems,cancer & heart ailments. Moreover, pregnant ladies & children up to 5 years are very vulnerable to ill effects of Air pollution.Plants, vegetation & animals too are worst affected destroying the ecological balance. The problem can be addressed effectively to a large extent by taking concerted action by all implementing machinery by ensuring vast improvement in public transport system, by encouraging people to drive less and walk & bicycle more and also by strict compliance of emission norms besides many other measures.''

Thanks for sharing your thoughts.
Regards,Team TOI
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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.09.10.12

Dear Reader,
Your comment on the article ''Global biodiversity meet calls for committing resources'' is now displayed on timesofindia.com.

''In our country the problem is less of resources and more of execution of existing policies at the ground level. RESOURCE EFFICIENCY IS TO BE ENSURED AT ALL COST AS WE ARE TO DO EVERYTHING WITH TAX PAYERS MONEY AND THE POOR MASSES ARE ALREADY HEAVILY TAXED. The civil society and an independent non governmental body of experts in this field must look in to the critical issues of biodiversity at large on a regular basis. No doubt, awareness campaigns at all levels must be undertaken in this regard on a large scale.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

                                                 Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON CONSOLIDATION IN BANKING SPACE

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.24.11.12 10:18 PM

Your comment on the article ''Some consolidation in banking space inevitable: FM'' is now displayed on timesofindia.com.

''Keeping in view the BASEL III requirements of capital Adequacy, the fast pace of soaring NPA, the unnecessary competition among the banks involving avoidable expenditure, the expected growth in credit needs of corporate and infrastructure sector to sustain average 7-8% growth in GDP and such other reasons, the consolidation in Indian banking space looks worth considering. The then FM, Mr. Mukherjee , in his first meeting with the PSB chiefs after taking charge as the finance minister just after the 26/11 Mumbai attacks, had said, "consolidation of Banks might be needed to improve the global competitiveness of Indian banks and to reduce the risk to financial stability. Any consolidation initiative in the banking sector would be viewed positively and government, as a majority shareholder, would continue to play a supportive role in the process”. The Trade and Industry Associations do favour the proposed initiative for consolidation to have at least few banks far bigger than SBI to qualify to be globally competitive. Rightly or wrongly, the talk of consolidation is seen with lot of apprehensions and fear which FM has himself indicated by saying,"we should not fear consolidation." Yes, it would be a good idea if the initiatives for consolidation among a few PSU banks emanate from the management of such banks themselves (after discussing the issue in-house thoroughly) with Government playing a supportive role as the common stakeholder.''

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India 

Shobha Dey's article : Unpalatable fruit salad
October 14,2012 at 11:09 AM IST

Excellent piece of writing. Yes, many such Bros are enjoying life without any fear or shame. Our systems are so favourable for such people that they dare to take it for a joyful ride now & then. Shouldn't the upright officers in different services(still, I feel, they are in good numbers) ensure execution of even the existing laws more forcefully and speedily? This alone can make a lot of difference in lowering down the number of scams in the country.

                                                           Will meet again with Open Mind. All the Best.

# Do visit my site : milanksinha.com

MY VIEWS IN ECONOMIC TIMES ON SELECTION OF IRDA CHAIRMAN & ON BAD LOANS OF BANKS

Economic Times Story on 23.11.12 : 30 applicants in race for post of Irda chairman

Comments of MILAN K SINHA (PATNA)
23 Nov, 2012 11:46 PM

    The selection of IRDA chairman is going to be an important news in the financial market for several reasons. According to a report, India is expected to emerge as the 3rd largest life insurance market in the world by 2015, only after China and Japan. At present, India stands 12th among the top markets for life insurance. With an annual growth rate of 15-20% and the largest number of life insurance policies in force, the potential of the Indian insurance industry is huge.Further, only 20% of the total insurable population of India is covered under various life insurance schemes with a penetration level of 4.5% of GDP. The penetration rates of health and other non-life insurances in India is also fairly low.These facts do indicate that there is immense scope for growth in insurance sector. With cabinet decision to hike FDI cap in Insurance sector for greater participation of foreign players in coming days, it is all the more necessary to select a person as IRDA chief with highest integrity & professional skills/expertise so that he can provide genuine leadership, guidance and support to Insurance players, both new and old, in Indian insurance market. But, to ensure that to happen in a transparent and professional manner, it is desirable to have the most competent selection committee comprising wellknown & renowned professionals from insurance & other financial sectors and not the bureaucrats(In general, they are Jack of all trades but master of none) from the ministries.

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Economic Times Story on 22.11.12 : Bad loans of state-run banks are Rs 1.43 lakh crore as of September

Comments of MILAN K SINHA (PATNA)

22 Nov, 2012 11:58 PM

      Yesterday RBI Deputy Governor K C Chakrabarty reported to have hold the corporate squarely responsible for a major part of the rising bad loans. By saying this, he has, in turn accepted that the whole system of credit dispensation, follow up, monitoring & recovery by the Banks in the country under the leadership & guidance of RBI & Ministry of Finance failed to perform & deliver. There can't be a more simplistic explanation on the menace of ever growing NPA of Banks like this. In fact, bad loans in our Banking system is mainly the result of multiple political as well as economic factors coupled with inability of the authorities to recover the dues quickly from the defaulters, especially big wilful defaulters. In a recent communication RBI itself said that Banks in the country need to strengthen their due diligence and credit appraisal system along with overall monitoring mechanism to contain the rising bad assets seen in the banking system. Notwithstanding, during the last two quarters in the current fiscal Banks have registered whopping 86% increase in non performing loans which impacted the pricing of its products, both deposits as well as credit. So, the need of the hour is to introspect & analyse the malaise very objectively and find and adopt more effective mechanism to manage NPA on an on going basis without fear or favour.

                                           Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON ROAD TRAFFIC & ON CONVICTION RATE

Comments of MILAN K SINHA (PATNA) in 
The Times Of India dt.21.11.12 

Dear Reader,

Your comment on the article ''Road traffic critical concern for citizens'' is now displayed on timesofindia.com.

'The road traffic indiscipline will not come down until and unless the authorities appreciate the growing problem in almost all cities, big as well as small, in the country in its totality. The population is increasing fast and so is the number of vehicles of all sorts on the roads which has not been widened proportionately with adequate provisions for vehicle parking. The by- pass roads have also not come up in sufficient numbers. More over, traffic management has not improved to tackle the menace effectively, particularly in peak hours, rather it has deteriorated with dilution in compliance of rule of law by the law makers themselves. To say, the indiscipline can be curbed if the aforesaid problems are addressed and police acts to punish the wrong doers as per the law without fear or favour.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.14.10.12

Dear Reader,
Your comment on the article, "Exposes need convictions & radical systemic reforms to have impact"  is now displayed on timesofindia.com

   It is no denying the fact that crooks of all sorts are now enjoying taking the system for a playful ride. We have hundreds of laws but those are to used or misused in respect of 'mango masses' and not at all in case of special(khaas) creamy & powerful people. Ironically, our conviction  rate is also among the poorest and it has dipped further- it was 65% in 1961 but now it is less than 60%. The conviction rate in China is 98% and in Japan it is said to be 99%. And that is another  great reason of their faster development in all major sectors.

Thanks for sharing your thoughts, and keep up the good work!

Regards,Team TOI

MY VIEWS IN ECONOMIC TIMES ON RISING NPA & ON RTI

Economic Times Story on 21.11.12 : RBI directs banks to share information to check rising NPAs 

Comments of MILAN K SINHA (PATNA)

21 Nov, 2012 10:54 PM

   Reiterating its earlier directive to Banks to share information on credit exposure among themselves should be welcomed but is it sufficient to ensure its compliance by Banks as it happened in the past despite RBI's similar directive in 2008. The monster named NPA in large advances is the creation of multiple politico-economic factors coupled with Govt's inaction to punish the wrong doers both at corporate as well as at Bank level. This naturally results in huge increase in bad loans of majority of Indian Banks thereby making the entire Banking as a high risk sector. Unfortunately, during the last two quarters in the current fiscal Banks have registered whopping 86% increase in non performing loans which impacted the pricing of its products, both deposits as well as credit. Naturally, the effectiveness of whole credit dispensation process, particularly in case of large credit, must be looked into case by case very discreetly & objectively by a team of experts, without fear or favour, to safeguard the interest of stakeholders of Banks in the country.

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Economic Times story on 15.10.12 : RTI by itself cannot combat corruption, reforms needed
Comments of Milan K Sinha (PATNA) 
15 Oct, 2012 11:04 AM

     It is rightly opined by Madhuji. We claim to be a matured soverign republic of more than six decades old, having many laws, many law enforcing agencies and thousands of officers for ensuring execution & compliances. But, the hardships of the common man have been mounting & mushrooming over the years. The impact of this worsening political situation is noticeable in every sphere of our public life. Notwithstanding, there is a ray of hope. We still have lot many upright officers working for the government at different levels. If the rules are administered properly with adequate check & balances and compliances are ensured atleast by these upright officers even within their legal limitations, there would be visible positive changes in the existing system within a short time.

                                                           Will meet again with Open Mind. All the Best.

ACTION, INTERACTION, REACTION KEEP US GROWING

                                                                               - By Milan K Sinha

      By nature, we all love to meet and interact with people we know because we are social human being. At the same time, one tend  to learn to interact with people one doesn't know but  whom one long for reaching to know and  tell him/her about one's own story and then learn what the other person is doing/thinking. The idea is to interact well to find out  the areas of common interest or otherwise. Facebook, E-mail, video conferencing etc.are some other modern means to stay in touch with friends and relatives and even create relationships with people one has not yet met. Carl Gustav Jung rightly says, " the meeting of  two personalities is like the contact of two chemical substances, if there is any reaction, both are transformed."

Please have a glance on what the following persons are to say on the subject:

• An employee's motivation is a direct result of the sum of interactions with his or her manager.-- Bob Nelson 
• Human kindness,warmth,interaction,friendship and family are far more important than anything that can come across my cathode ray tube.-Clifford Stoll.
• The exercise of power is determined by thousands of interactions between the world of the powerful and that of the powerless, all the more so because these worlds are never divided by a sharp line: everyone has a small part of himself in both. -- Vaclav Havel 
• When interacting with others within your business environment, be happy, since this will encourage and inspire people to work with you.--Mitch Thrower
• The strength of a society depends upon the presence of points of contacts, possibilities of interaction between different groups that exist in it. These are what Carlyle calls 'Organic filaments', i.e. the elastic threads which helps to bring the disintegrating elements together and to reunite them. -- Unknown
• Invite the people you want to do business with or work with into your home environment and it will improve the quality of your interaction and increase the depth of your relationships.--Mitch Thrower

      Interaction involves both social and personal inputs such as ideas, emotions, creativity, innovations, information, new thoughts, areas of work & interest etc. which taken together is nothing but a growing human process with regular value addition. So, the more the people meet, talk and interact with one another, may be in a meeting, a conference, a convention, a discussion or a normal interface, the larger would be the scope of strengthening the democratic & secular set up of the country as Walt Whitman  says in other words,"Did you, too, O friend, suppose democracy was only for elections, for politics, and for a party name? I say democracy is only of use there that it may pass on and come to its flower and fruit in manners, in the highest forms of interaction between [people], and their beliefs -- in religion, literature, colleges and schools -- democracy in all public and private life....”   
                                                  Will meet again with Open Mind. All the Best.

* Do visit my site : http://www.milanksinha.com/

MY VIEWS IN TIMES OF INDIA ON PREVENTING SUICIDE & ON SLEEP NEED

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.18.11.12 

Dear Reader,
Your comment on the article ''Set aside 50 lakh a year to prevent suicides, IITs told'' is now displayed on timesofindia.com.

''Yes, counselling is essential for such depressed & over stressed students. Every morning you notice some reports in the newspaper on suicide deaths in different parts of the country. Let us first see the hard facts related to this growing menace in our society. Reports say, ”Suicide in India is slightly above world rate. Of the half million people reported to die of suicide worldwide every year, 20% are Indians. In the last two decades, the suicide rate in India has increased from 7.9 to 10.3 per 1,00,000 population. In a study published in The Lancet in June 2012, the estimated number of suicides in India in 2010 was about 187,000    ( 21 deaths every hour) of which 71% are by persons below the age of 44 years. This is a serious cause of concern which imposes a huge social, emotional and economic burden.Try to practice, in whatever manner & magnitude you like, the prescriptions of Swami Vivekananda, the great role model for Indian youth who lived in this world for only 39 years but could leave an indelible imprint on the soul & minds of millions of people world over. Swamiji says,” Be generous in prosperity and thankful in adversity. … Be a treasure to the poor, an admonisher to the rich, an answerer to the cry of the needy, a preserver of the sanctity of the pledge . … Be a lamp unto them that walk in darkness, a joy to the sorrowful, a river for the thirsty, a haven for the distressed, an upholder and defender of the victims of oppression. …Be a home for the stranger, a balm to the suffering, a tower of strength for the fugitive…. Be eyes for the blind and a guiding light unto the feet of the erring….''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA (PATNA) in 
The Times Of India dt.19.10.12

Dear Reader,
Your comment on the article ''Don't miss even 2 hours of sleep!'' is now displayed on timesofindia.com.

''With the changing world and with the advent of LPG (Liberalisation, Privatisation & Globalisation) in our country too, the natural character of our daily routine underwent changes for the worse, particularly for our urban population.The reasons may be many and may also seem to be genuine and compelling, but the ultimate sufferer in the whole process of this so-called modern life style is our greatest tranquilizer: Sleep. Obviously, changing the natural course of life at will , doctors opine, affects not only our health but also the health of our family since it has multi dimensional impact on our life. Sleep deprivation is one such casualty of today's fast life which has great negative physiological and neurobehavioral consequences. Several medical research findings too have proved beyond any doubt that much of our body's regeneration processes take place during those sleeping hours. Let us see what William Shakespeare says in Macbeth,"Sleep that knits up the ravelled sleave of care.The death of each day's life, sore labour's bath.Balm of hurt minds, great nature's second course,Chief nourisher in life's feast."

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

                                                      Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON SAVE GANGA & ON CASINO BANKING

Comments of MILAN K SINHA (PATNA) in
The Times Of India dt.18.11.12 at 07:48 PM

Dear Reader,
Your comment on the article ''Subbarao against 'casino banking'' is now displayed on timesofindia.com.

''The RBI Governor is absolutely right in his assertion. Our country is different from any other country having unique opportunities and problems. Hence, we can't afford to look for a copy - paste solution. Banking has been a major instrument of social - economic change in our country and it has to consolidate its position to remain healthy in real terms and ensure inclusive growth to serve the Indian society at large. We all know that the major reforms in Indian Banking space, of course after nationalisation of 14 Banks in 1969, was based on the recommendation of Narasimhan Committee (1991). Important initiatives, such as putting in place the concept of new accounting & prudential norms relating to Income Recognition, Provisioning and Capital adequacy in line with international banking practices, were taken. The norms for entry of private & foreign banks were also relaxed. Consequently, a paradigm shift in the functioning of Indian banks started taking place thereby necessitating adoption of technology as the main enabler of tomorrow's banking. Naturally, the entry of new generation private & foreign banks in the Indian banking market with the state-of - art technology, compelled the PSU banks also to fall in line to take care of efficient management of its liabilities, assets, capital and ever growing risks. But, while appreciating the gains of Indian Banks in general during these years, there are many avoidable disconnects between promises and actual delivery of product & services to the growing number of more aware customers of today. So, when the process of issuing new licenses is being looked into, it is also time to pause, ponder & review the areas of disconnects & serious concerns, including NPA management for better banking in coming days.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA in 
The Times Of India dt.18.10.12

Dear Reader,
Your comment on the article ''Save the Ganga: Failure to preserve the river will undermine India's future industrial growth'' is now displayed on timesofindia.com.

''The story is a real eye opener. For that matter all our rivers including Yamuna , Brahmaputra, Mahanadi to name a few are very polluted as sewage, trash,food,animal remains & industrial wastes containing toxic chemicals are dumped in large quantities. The pathetic state of huge population suffering from water borne diseases are seen to be believed particularly those living in rural areas along the banks of these rivers.Various water borne diseases affect them most resulting in large number of deaths every year. To say, water borne diseases, Diarrhoea, Cholera, Malaria, Japanese Encephalitis & Filariasis, cause more than 18 lac deaths annually. Moreover, due to ground water contamination as a result of interaction between ground water & unclean surface water, situation has become further grave. It is interesting and worth noting (for our planners & Govt. functionaries at least) that the overall cost of making provision of clean drinkable water to one & all in the country is lesser than cost on providing the multiple heath related benefits in this regard. In nutshell, to control this growing menace of water pollution, urgent corrective measures are required to be taken on highest priority by all concerned in an integrated & concerted manner for ensuring both industrialisation as well as cleaner environment including our rivers.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI
                                                    Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON FISCAL DEFICIT ....

Economic Times Story on 16.11.12 : Government may struggle to meet fiscal deficit target, credibility at risk

Comments of MILAN K SINHA (PATNA)
16 Nov, 2012 08:16 PM

The Central Govt. is perplexed and standing on the cross roads in utter confusion. All sorts of prescription coming from internal and external experts, party bigwigs, babus in finance ministry and UPA election managers will be tried to achieve the revised percentage of fiscal deficit by adopting short cut methods instead of making consorted efforts to push all possible measures of fiscal consolidation. We all know about the mismanagement in subsidy delivery mechanism, whether it is oil subsidy or food subsidy, and the ground level malpractices prevailing all over the country in this connection. The benefits of subsidy meant for the targeted section of society are not accruing to them to a large extent, which the government is quite aware of. The rising government expenditure is another area where much can be done by honest and sincere administrative measures. All wasteful expenditures can be stopped forthwith and austerity measures initiated across all departments/offices starting from the office of president and prime minister. After all, the Indian democracy has not issued any license either to political high ups or any Govt. functionary to enjoy all the luxuries & comforts of life at the tax payers money and continue to preach the common man to live in poverty and hardship for year after year.

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Economic Times Story on 21.10.12 : Are companies adventurous enough to let their best employees work from afar?

Comments of MILAN K SINHA (PATNA) 

21 Oct, 2012 01:06 PM

This should be a novel idea for all corporates in India to emulate for all those employees who attend the office without requiring any interface with the customers or the supervisor. This would be panacea for many of our ills such rising cost of office space, traffic congestion, wasteful commutation time, savings on fuel consumption etc. In consequence, the employee can devote more quality time to accomplish the job as well as keep oneself healthy & cheerful. As the technology has changed the whole scenario of office culture mainly in IT companies and in back office working, we better adopt this idea in a big way together with shifting the offices 30-40 km away from the metropolitan and bigger cities which are having growing problems of many kinds, at least in our country.

                                                 Will meet again with Open Mind. All the Best.

WHY CELEBRATE CHILDREN'S DAY?

                                                              - By MILAN K SINHA

Nelson Mandela, former president of South Africa said,"There can be no keener revelation of a society's soul than the way in which it treats its children". Please find to enjoy what some other great personalities of the world had felt and expressed about children :

1. Keep me away from the wisdom which does not cry, the philosophy which does not laugh and the greatness which does not bow before children. - Khalil Gibran 
2. The most interesting information comes from children, for they tell all they know and then stop. - Mark Twain 
3. If we are to teach real peace in this world, and if we are to carry on a real war against war, we shall have to begin with the children.- Mahatma Gandhi
4. Children are our most valuable resource.- Herbert Hoover 

 This year too on the eve of Nehru's birthday on 14th November, Children's Day was also celebrated. Routine functions were organised on this day where all sorts of promises for the welfare of our children were made (and  possibly forgotten too) by the ruling political class and their followers- the officials of related departments.Some schools and some NGOs too organised functions on this occasion and reiterated their concern for the children which was covered by newspapers as per the available space for such normal activities. In our country, it doesn't make a news if poor and destitute children are found working in roadside tea shops, hotels, dhabas or selling gutkha, cigarettes etc. in running trains/buses or doing household jobs for  high ups of our society in their Gareebkhanas or  picking up waste foods outside the wedding premises or begging in front of a temple, mosque etc. Yes, we are  one of the fastest growing economies of the world and  every one in the Govt. is busy improving the prospects of GDP growth. No doubt, the following basic facts related to our children will be seen later on by them, if time permits:

• 8.8 lac children die every year, more than 100 deaths per hour in India.
• One in every three malnourished children in the world live in India.
• The IMR (Infant Mortality Rate) in many states is still more than 50 per thousand for children upto the age of 5 years where as it should be at least below 30 per thousand.
• About 50% of all childhood deaths are attributed to malnutrition. 
• 26% of the world's childhood vaccine preventable deaths take place in the country.
• Anaemia affects 74% of children under the age of three.
• As high as 44% children under five years are underweight.
• Malnutrition in early childhood does have serious long term consequences because it impedes development of vital life organs.
• Majority of these children hail from the marginalised and poorest communities such as tribals etc. where literacy is quite low but poverty is  quite high.
• In Jan'12, the Indian PM said that despite impressive GDP growth,the level of under nutrition was unacceptably high.
• School drop out percentage is still  more than 40%.
• The crime against children is on the rise in our country.

 I await your reaction on the subject.Will meet again with Open Mind.All the Best.

MY VIEWS IN TIMES OF INDIA ON OIL PRICE HIKE & ON ROLE OF CAG

Times Of India story on 15.11.12 : Petrol to be cheaper by Rs 0.95 per litre from midnight

Comments of MILAN K SINHA (PATNA)   
15 Nov, 2012 08:30 PM

    If we see the prices of not only Petrol but also Diesel and Cooking Gas in the market, we don't find the rational of either increasing the price or reducing the price in the name of varying crude oil price in international market now and then. Every one must be knowing that more than 40% of the ruling market price of petrol is due to central excise duty and sales tax of respective state governments. Due to fiscal mismanagement both at central and state level, no government talks of cutting its tax rate on petrol and hence find the most convenient route of passing the burden solely on the consumer. But one state is found to be an exception in this regard. Yes, the state of Goa slashed sales tax dramatically in recent months - a few months ago, it cut nearly its entire tax on petrol, making the fuel cheaper by Rs 11 per litre. If that be the case, why other states under the leadership of socalled progressive chief ministers could not really follow Goa’s example. Rather, they kept on befooling its masses by protesting only against the centre's policy on the subject. We know that the country imports 80% of its oil needs and still the policy makers and power that be are doing almost nothing worthwhile to reduce the growing dependence by initiating many known measures to cut oil consumption in the country. Let us hope to have some reasonable reduction in oil prices in future for the benefit of common man by initiating people friendly steps.

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Times Of India story on 15.11.12 : Multi-member CAG plan still on table

Comments of MILAN K SINHA (PATNA)   
15 Nov, 2012 03:12 PM

   I fail to understand the political strategy of the central govt. to engage itself in controversies like this. Can any body complain against CAG & his team of not complying with the set norms of audit process being undertaken? If not, then why this hue and cry? Instead of seeing the writing on the wall about its political future in next Loksabha elections, the major coalition party in UPA -II and its enlightened brigade of managers are trying to damage, of course unsuccessfully, the credibility of such important institutions like CAG. The Auditor in any set up is like a family doctor who tells any thing and everything for the well being of that person which must be encouraged and appreciated by all right thinking nationalist person/party. For any progressive government or corporate entity, the stronger and more transparent the audit system is, the more soundly performing the operational systems will be. Then, the chances of bigger scams like 2G, Commonwealth, Coalgate and the likes will be lesser in number & magnitude and also detectable fast. So, any attempt by any political party or any government to weaken such organisations will be self suicidal as in the public domain it will definitely be seen as done with some vested interest. All opposition parties, big & small alike, in the country must protest loudly against any such ill- motivated move by the Govt., in order to stop further erosion in the functioning of democratic institutions in coming days.

                                                  Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON ATM & ON INDUSTRIAL PRODUCTION

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.13.11.12

Dear Reader,
Your comment on the article ''ATMs cross 1-lakh mark; SBI controls 59%'' is now displayed on timesofindia.com.

''With Govt.'s promise to put in place with greater pace the much talked about financial inclusion in coming months and with Aadhaar going to be the basis for doling out subsidy through Bank Accounts to the targeted population in the country, the banking service delivery routes must be strengthened by opening more branches and also by putting more ATMs, both online & off line in rural areas. Needless to re-emphasise that the functioning of ATMs are to be monitored closely by the Banks to justify the promise of anytime (24x7) banking as there has been gradual increase in non- functional ATMs, issues related to failed transactions, ATM frauds etc. These are some of the major problems being faced by the customers on a day to day basis which must be addressed fast on an on going manner. RBI on its part, must look into the fact that despite its clean note policy, how even ATMs are dispensing unclean notes as a matter of routine.''

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.12.11.12

Dear Reader,
Your comment on the article ''Diwali dampener: Industrial production, exports shrink, inflation rises'' is now displayed on timesofindia.com.

''This Diwali is the worst festival time in past few years. It seems things are going out of control and government of the day is not capable of effecting any major course correction. Even at this stage,there is reportedly a lack of coordination among the different ministries at the centre and also in many states. If PM finds time to review this alarming situation with his ministers atleast once in a week and with Chief ministers of different states once in three months to find some solution, I believe it will not only have definite impact on major issues but also send a right message down the line for all officials to follow this accordingly. We know, there is still lots of red tap at different levels despite the socalled liberalisation which is hampering the economic and social development, but who is responsible for this red tap? Of course, the Govt. and its perennial lack-lustre & half-hearted way to make things happen. Many a times, even after many rounds of customary meetings, discussions, deliberations and final documentation, it is not implemented within the prescribed period which obviously result in time escalation as well as high cost escalation. If we analyse deeply the ratio of decision taken and decisions implemented as per the terms of the said decision, it would be crystal clear how the system has been paralysed for any and many reasons. Some experts may opine that the political and administrative authority has lost its sanctity & impact to such an alarming extent that nothing can move in time and as per the laid down norms. But, then why the age old reward & punishment system is not implemented strictly, objectively and transparently? Yes, the system can start responding quickly only if the political power actually has the right will & intent to perform to make the country really performing and prosperous.''

WISHING YOU & YOUR FAMILY  A  HAPPY DIWALI.

                                                      Will meet you again with Open Mind. All the Best.