Tag: Economy

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Debt Recovery Tribunal of India -Part-III


The anomalies in the judgements of DRT is  extremely painful to the companies.

The modifications in the RBI  one time settlements are too many and too difficult to adhere.

The stipulateded time  is too short,, the  procedures  are confusing , the bureaucratic behaviour  of the banks  is suffocating,and  the  inhuman sneer of the DRT is humiliating.

As ,in all government offices, Corruption and bribery , are predominant in DRT.

The Presiding officer, the recovery officers, the inspectors and the sub staff , expect a sizable amount to conclude the case.

The appeal, however meritorious, however, much based on factual, however genuine in its submission, wil  not find a positive judgement.

But a petition,  extremely out of context, based on blatant lies, a compound of fiction and falsification , will end up triumphantly, for reasons best known to the judges, who have taken an oath to act without prejudice  on Holy scriptures like Bhagavad Gita, Bible and Koran.

“Satyameva jaya dev” Truth ever prevails is the clarion call of Lord Krishna.

“Asatyameva jayadev”.Untruth ever prevails , is the tall claim of DRT.

. With the enormous powers vested on the tribunal, it can identify wiful defaulters from  genuine failures and pronounce judgement accordingly.

Industries have failed in their repayment, but the DRT’s have to go beyond its circumvention.

Why have they failed ?

Did they swindle?

Did they lose ?

Was it due to mismangement?

Did the banks aided them with adequate finance and at the appropriate time.?

What was the rate of interest the bank levied on its advances?

Did the bank give  them another opportunity?

Did the bank meted out unbiased treatment to the so called   powerful industrilist, and the simple modest  entrepreneur.?

The DRT , has the infrastructure, it has the man power, it possesses the money vibrancy , as it is backed by the Finance Ministry ..

It has to establish truth and codify a congenial industrial climate.

The officials should rise above the frailties of money , power and rank, and give out a verdict to make India shine and emerge as a super power.

Will the DRT respond?

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Economy in Twitters.


Lub a dub , lub a dub , dub, dub

The heart of economy is racing, and  pounding  like an athlete.

Palpitation has set in. There  will  be a  sure nervous break down.

I recall . the rhyme,

“Old Mac Donald had a farm.

E-I-E-I-O.

And on his farm he had a cow,

with a moo,moo.

here a moo , there a moo,

everywhere a moo, moo.

Old Mac Donald had a farm.

E-I=E-I-O

 A curious analogy though,, the global  economy which  is  obsessed by surprises and apprehensions, is akin to Old Mac Donald’s farm

Global  economy has  clandestine eruptions.

And on it , there are  a bear and a bull.

with a  gobble,gobble,

here  a gobble , there  a gobble

everywhere a  gobble, gobble

Global economy has  volcanic  eruptions.

E-I-E-I-O.

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The Bubbly Bubble


A mild relief  and a gentle  vibrancy prevails.

The stocks have risen worldwide by a margin.

Christmas   will be in thick of joy and merriment. as economy is being given a face lift.

Finances , as it looks , are very  heavily made up, with bail out policy , stimulus packages and other perquisites.

In U.S auto makers , will get  their share of  rescue funds.

In India , the  overseas mutual funds have returned, the markets  had a brisk trading.

There is a temporary respite.

The bubble ,is slowly getting inflated by artificial measures.

Will it sustain?  Will it reinforce? Will it race ahead?

The sustainability is very low, as the  economy is still very shaky.

The reinforcement , will take off, as many proactive measures are leveraged.

The racing ahead will be more pronounced, initially, then slowly drag and end up in an affirmed limp.as there is virtually nothing in the receptacle.

The empty bowl is being filled up by the tax payer’s money. 

The lobbyists and politicians rattle and  prattle , as though they are striving hard to resurrect economy.

The unfathomable peril has yet to be deciphered.

We have seen only the  apparent , the virtuosity is appalling.

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Bonus


Bonus is bounty in Latin.

It is something extra  given or paid in addition to what is usually expected.

This is how the Dictionaries define the word.

It is a disbursal of the profit or rather sharing the excess.

Merill Lynch chief executive,  John Thain, demands 10 million dollars as bonus for the year 2008.

The company has made a loss of 11 billion dollars.

Most of the employees face retrenchment.

The share value has gone down by 73%.

Bonus , makes good sense. It is a progressive practice. Rewarding,the employees for their prowess. and for their hard work is a right predilection.

But the demand by Thain ,lacks moral debenture.

Merrill Lynch , will come under Bank Of America., and cease to exist as an independent company..

Thain , entered the scene when the going was dismal,had pushed the brand, kept the company alive, and restrained its bankruptcy by negotiating with Bank of America.

He  has received heavy pay  for his work.

His tall claim  seems atrocious. It is comparable to  the act of seizing  whatever you can from a burning house.

Thain ,however much an efficient executive , defies   justice,deputes greed,deforms economy, denies sense and defers idealism.

Thain has dwarfed himself.

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Face the music


‘If music be the food of love ,then play on, give me the excess of it’ bids Duke  Orsino, in Shakespeare”s, Twelfth Night. 

Excess of anything , be it music , food, drink , money ,love,  prompts sickness.

The appetite gets surfeited, the interest disappears,the love wanes,and the  glamour fades.

The global economy is   facing a turbulence.

There is unpredicted sullenness, unprecedented stiffness and unlamented sorrow.

Governments world over , are trying to pull the broken ,badly beaten economy , by providing rescue programmes.

 A resurrection  is much expected.

But , it is not going to happen.

The markets are waxing and waning like the Moon.

We have to face the music.

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Halo around the head.


The aura surrounding , Mr.Palaniappan Chidambaram, the most idealised Finance Ministerof India ,has waned.

The radiance of his spectacular oration, the nimbus of his over bearing presence,and the sparkle of his policies have lost their lustre.

Economy of India ,is now in shambles.

 Generally this may be attributed to Global meltdown. But specifically ,the weakening of India’s financial spectrum is due to the policies of the much talked about  and most garrulous minister, Mr. Chidambaram.

His philosophy of  business ,is completely an anachronism, in the Indian application.

Indian economy was making a slow and a steady progress, The advent of Mr. Chidambaram  with his rapid  dash in globalising, has mesmerised the country’s vulnerable financials.

He threw open the much guarded doors of the stock markets ,thus paving the way to the entry of overseas investments.

The sen sex rose exorbitantly high, reached the summit of about 21,000.

He  invited   sophisticated  foreign business houses to participate in India’s roaring growth.

He gave a stimulus to companies which tagged with competitors of the world.

The scenario was one of plenitude, one of perfect amalgamation of export and import culture, one of appalling growth and one of unforeseen impetus and unrivalled enthusiasm.

The brand motto “India is shining” , made us gape. propelled us to adore the shimmer,and  forced us to look aghast

Is India really  strolling , nay racing ahead of all powerful nations?

The throbbing mind was put to rest by the quick successive crashes in the stock market, fast deterioration in  industrial  output, speedy rise in prices of commodities like rice, vegetables, dhals and fruits.

The  stock trader lost his investments, the industrialist was ebbed by negative results, the common man was thrown out by the steep escalation in groceries.

Mr. Chidambaram  has dissatisfied all cross links of society.

A week back, he was summoned by the Prime Minister, Manmohan Singh  ,while he was participating in a function in his native place Kandanoor, a remote hamlet in Southern Tamilnadu.

He was asked to take up the Home Minister Portfolio, which became vacant due to the resignation of Mr Shivaraj Patil.

The latter behaved most clumsily during the terrorist attack in Mumbai.

We expect Mr.Chidambaram to  perform creditably  in the new innings as Home Minister, since  the country’s security consideration is alarmingly low.

 He should make the best of it and amend for the  mess he created  as Finance Minister. 

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An Uneasy Calm


The euphoria is lost.

The atmosphere is serene.

The weather is biting cold. 

The living  metabolism is defunct.

The business has shrivelled.

The enthusiasm has shrunk.

The  spirit has dampened.

There is uneasy calm.

 It is  a preamble to depression.

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Euphoria Fades


The stock market slipped as the rescue of Citi group became a back liner.

 Aiding Citi  is a bad precedent.

U.S. will need a bail out soon.

The nation will need  several trillions to keep it afloat.

Where is the source?

How is it going to earn?

Many  defaulted business will expect the  Fed to help them to come out of the blue.

A retrograde effect  is distributed.

Cancer ,is a deadly disease,which  spreads  fast, eats up every organ, renders the afflicted helpless., requires a harsh medication,subjects the patient to radiation and chemotherapy,reduces him to a bag of bones and  he succumbs to death.

Bail out  is a big plan , but the economy has melted too fast,surgery is not the requirement, amputation also has become unnecessary,as too many areas have been affected.

The crisis is ailing, as there is no  solution available to settle the system.

The gala scenario of bail out has lost its sheen.

 

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Citi group for sale.


What a tremendous impasse!

It is the most unexpected event of the year 2008.

Citi a gigantic ,imperial , and a dynamic bank is up for sale.

The stock price has fallen by more than50%.

Another instance of ostentataion succumbing to pressure.

We have to go back to the basics.

Banks, are primarily lending institutions,not supermarkets displaying snobbish products.

Their business is funding, collecting interest,  and mobilising deposits.

Highly paid , well educated, high profile executives have driven economy to its depths.

A justified, modest ,graceful  evenly poised ,customer friendly, investor reliant attribute is the call of the hour. 

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Convalescence


Gradual recovery  of health and strength after illness, surgery and injury is called convalescence.

World economy is half dead, severely dishevelled,and badly bruised.

The Bail out plan of the U.S, is a wrong prescription.

Stuffing the suffocated ,dying patient, with high protein  supplements,  fibre rich food, and saturated fat ,

is alarming and ridiculous.

The poor patient will be stifled by all these indulgences and will breathe out in haste and precipitation.

As the economy is thoroughly out of shape, swiftly detiorrating, the nourishiment should be done with utmost care and attention.

A sinking man will look up in fits and starts, similarly the economy has its ups and  downs,its bright moments and its dull averages.

Getting into the messy plethora, we can decipher the worst ,disdainful nomenclature.

Adopting the agricultural practices of yore, we have  to resort to certain refrains.

The business , which have defaulted on will ,and collapsed out of perfidy and deceit ,should be allowed to rot. No bail out is necessary for such outlets.

We have to identify highly competitive companies, with smart management,with skilled  handling. with deep foresight, and with stiff withstanding stoicism.

We have to make them leaders of the  compendium, assure them of all possible aid. and hand over the reins of economy.

The regulations should be following them in close quarters.

Any propensity to err should be checked .

The renaissance will be slow, as we have to detest from administering any boosters, or Short spanned doctrines.

As the ancient farmer, chose the best seedling, tended his farm like a child, we have to select the best set of minds, and caress them as a babe.

We cannot expect results at once.

The farmer of yore ,patiently waited for the bloom , for the ripeness, to harvest.

He reaped a wholesome reward.

Economy requires time to regain its original vigour and lustre.

Mild medications and smothering assuage will put back the economy back in its pedestal.