Disenchanting Galore.

Cities are classified according to their importance.

Delhi is the  political capital of India.

Mumbai is the financial capital .

Bengaluru is the hub of Information technology.

Chennai is the Detroit of India.

Coimbatore is the home of textiles.

Kolkatta pops up as the  cultural center.

Pune is a rising city.

Madurai ,the ancient city,  is familiar for its temples,unfamiliar otherwise.

The quint essence of this city is quietness.

It is not affected by any modern alchemy.

It is vulnerable to politics.It is a political  hotspot.

The  first week of August,made Madurai rock and tremble.

Banners and posters were displayed in each and every corner of the city, to welcome the Chief minister of Tamilnadu.

Cut outs of The Chief Minister ,in all postures (Sans his sleeping pose) were put up.Life size figures of his son Alagiri and his family were erected.

In one or two places we could find the portrait of his mother also.

Loud speakers were blasting his praise

Madurai ,from time immemorial ,is called as Meenakshi patinam or City of Meenakshi.

Now  the DMK functionaries have dubbed it as ALagiri Kottai or THe Fort Of ALagiri.

The whole  affair is  full of distaste, The outcome is nauseating.

Does Karunanidhi represent the people?

Is he an elected Chief Minister?


Is he a sovereign power of Tamilnadu?

Has he appointed his sons as  Chieftains ?

Humility pays in the long run.

Audacity claims short lived glory.


A year of credit crisis

The financial system is in  disarray

The sub prime mortgage crisis has gone global.

Credit crunch has begun.

8 U.S. banks have failed.

Consumers  are in despair.

Assets have depleted.

Assets in the form of home value  has gone down,stock portfolio has tumbled.

The balance sheets post negative results.

Wages are stagnant.

Food and energy prices are climbing.

There is pain , more pain all over.

Inflation is pitching high.

To contain inflation paper money is printed.

This is a very unhealthy sign.

An entity like a government body should enter to sort out the crisis.

Wonders cannot be wrought  in short span.

Recovery is way ahead.

By 2010 ,the economy will become pretty sound.





Assets in the form of home value going down

Economy Uncategorized

Casting a horoscope.

Following th e stock market,has made me very accurate in prediction.

If dollar tumbles, I will at once know that crude oil will rise.

If crude rises , it will pull with it Gold and silver.

So saying ,  I cast the horoscope of  the stock market.

On what basis should the horoscope’s chart be calculated.

Shall I follow the moon sign or sun sign, South Indian or North Indian,B.V. Raman or Lahiri. .

I deliberate.

I decide on Kerala astrology.

I cast the horoscope.

 My Inference-Stock market  will continue to rally for some time, then it will settle down.

Dollar will be replaced by some other currency.

Remedies I suggest,

Be patient . Patience is a virtue.

Do not buy nor do you sell.

Astrological consultation is totally free.

Economy Uncategorized

Arrogance of a bank

A story  of an entrepeneur.

The sundarams of the temple city in South India,are first generation of entrpeneurs.

They are a very enterprising couple, known for their integrity and dedication.

As early as 11991, they promoted a spinning mill in the outskirts of their city.

The biggest bank in India The State bank of India accepted to finance their project.

The Sundarams  were  excited. The commercial production started in mid june.

The bank had given them a term loan and promised to sanction the working limit as soon as the manufacturing process starts.

Thebank did not keep up its words.

The Sundarams were disappointed.

They in their enthusiasm to make the unit get on the wheels,had given the factory, lnd and another valuable property as colatral.

The bank ,after much persuasion ,released 10 lakhs on adhoc basis ,when the need of the hour was 38 lakhs.

The promoters  were compelled to run the show,with little funding.

After 10 months, the balance was released.

The initial set back was pinching.

unmindful of the bank’s callous attitude the company worked in full swing.

It employed nearly 100 people.

It produced weft quality yarn,which found a ready market in Ichalkaranji, Bhiwandi and malegoan.

Unfortunately, textile industry  was slowly losing its momentum. recession set in .The promoters were in a fix.

The Sundarams  wer prompt repayers so far.

After 6 years of full production, the unit falterd.

The  interest  was very high nearly 23,5%.

The management was in a deep stress and strain.

The bank refused to help them.

Thecompny became a Non performer.

To keep the pot boiling, the management pumped in its own funds.

They could not prolong further. The bank filed a case in debt recovery tribunal.Shutters were brought down.

Workers were given compensation ,

All obligations were fulfilled.

An one time settlement was rached.

The promoters borrowed money ,sold some other asset  to settle the score.

But the final payment got delayed by 3 months.

The bank accepted the payment.

it transferred the amount from no lean account tothe company’s account,

The statement showed that there was nil balance in the account.

A year and half has passed, the bank has not released the documents.

The sundarams  are desolate and writhing with anger.

They get no proper response from the officials.

The Shylockian syndrome has surfaced.

The bank is demanding more.

The bank is holding the document and the money.

Many defaulters go  free.

The genuine repayers face the brunt.

The world should know about it.



Financial Inclusion

The Indian Finance Minister has asked the poor not to go to money lenders. If they approach the private financiers, then he ,in charge of the finance portfolio is a failure.
Well said,Mr.Palaniappan Chidambaram.
Admitting one’s defeat needs courage and grit.
The Indian FM has almost accepted his shortcomings,though belatedly.
IS the honourable minister not aware of the interest charged by the private bankers?
The poor run from pillar to post seeking financial assistance.
Having been turned down by the banks, they resort to money lenders.
The loan sharks charge abnormal interest. Some even collect interest for a day.
Getting money from such people is immediate, has less procedures,and saves time.
THe Indian FM has promised financial inclusion for the poor in the banks.
They will be charged 10% interest.Even this is little high.
I recollect,Bernard Shaw’s words
Lending money for interest is second to prostitution.