Improve Governance standards and remove the structural weaknesses .

This refers to the Article RBI rate cut cannot Hide Structural Weaknesses in Money Life June 2025. The conclusion of the article that 'the economy is doing well, it is for the well off", reflects and captures well of the present state of affairs of the people less well off in the society . The monetary policy no doubt has changed it’s stance from accommodative to neutral but it really accommodates the borrowers particularly in the manufacturing segment and industrialists to think of expanding their investments and go on for enhanced production and employment through cheap credit though the overall cost of production remains unattractive thanks to irrational gst , uncertainties in the geo political conditions , and not so favourable international economic scenario . The fiscal policy needs to be tuned a lot more in tune with monetary policy to strengthen the structural weaknesses in the economy to improve employment , lessen inequality , remove corruption , black money and malpractices seen in governance everywhere All said RBI has been found to be very understanding and accommodative but a lot remains to be done to fully exploit the talents , potential resources and achieve the dream of becoming the most advanced economy by 2047. The vision is encouraging and clear but the path has  many hurdles but manageable provided the needed attention and steps are initiated to strengthen the Governance standards. 

(This comment appeared in Money Life against the Article "RBI  rate cut cannot Hide Structural weaknesses " ) 

RBI All support for the economic growth,

 RBI for boosting the Growth 

Kudos to RBI for having shifted its policy (June 6) stance from accommodative to Neutral and providing the much needed accommodative changes in its Monetary policy announcement made on 6th June 2006. Recognising the fall in inflation seen and expected , the need for giving a boost to the manufacturing segment of the economy which is slowing down,  understanding  the issues on account of geopolitical conditions, and appreciating the domestic  the present economic and environmental circumstances, the RBI has reduced the Repo rate by  0.50 percent and CRR by 1% in four instalments to add liquidity in the system and give a boost to credit growth , The relaxation in gold loans is a boon to give an impetus to Financial Inclusion and enhance the much needed relief to the weaker sections and augment their income through incentivised economic activities. The  only pitfall in the policy may perhaps be in the possible  reduction of FD rates for Senior Citizens, but if inflation is really brought down to 3.70 % as  envisaged and the expected growth in the economy becomes a reality, they may have the patience and tolerance to put up. All said the policy is very  motivating in character and  Hope  the Banks  and NBFCs will pass on the intended benefits in letter and spirit and will activate the wings to perform and realise the dreams. 

T V G Krishnan

6/6/25

Well Done RBI. Keep Going Strong.

 RBI Pleases All and Mints its  well deserved  Recognition. 

Apropos the Article “it is not RBI’s job to please All (June 5),  but traditionally , historically and functionally RBI does it’s job efficiently ,  effectively,  elegantly and eminently is a well established truth accomplished and acknowledged  nationally and internationally .The credit for this goes to almost all the Governors  for their wisdom , knowledge , dynamism to understand the multitasks the institution carries and dances to the tunes set elsewhere but maintaining the rhythm and steps perfectly motivating , developing  the human resources  by  providing the needed skill , knowledge, values and the work culture and unique functions unheard of. Though it is generally believed Charity begins at home but RBI pursues a different kind of charity enriching the nation's economy by adjusting to the tunes of the Government in power, and ensuring welfare for all through Financial literacy, Financial inclusion and keeping the country's reserves and resources in tact with value addition and providing the best of financial infrastructure to meet the national and international  viz  political, economic social and technological challenges admirably. The contribution of RBI's Human Resources is by all means unique and extraordinary but alas,  RBI is not allowed to have its way to perform, enjoying its own independence , wisdom and initiative like other Central banks of the advanced countries is perhaps the only black spot which is  correctible and definitely avoidable as like RBI , there can't be any other support institution serving the Governments in power and the nation to the best of its competence and national spirit. 

     

T.V.Gopalakrishnan

( Personal Views)

Bangalore 

Make Time Management an Inevitable and essential factor of Governance for Economic Growth.

  Make Samayanishth Bharat a necessary and realistic Goal. 

                 Time is very precious and Trifle not with time. Time wasted means erosion of wealth has taken place. 

This refers to the editorial Time has come for samaynisth Bharat ( ET , May 16, 2025). We have no shortage of sayings and literature on Time Management. Time is money, Stitch in time Saves nine, Time and Tide wait for none  and they are all taught, read and heard by all but they are seldom practised or imbibed and understood seriously to put into practice in day to day life is the ground reality. Without realising the material loss that absence of time Management in practice by all segments  of  Governance that matter Viz  Legislation, Judiciary and Executive causing damage to the Economy and Life and all stakeholders of the economy and making them suffer substantially in one way or other, time is wasted or ignored completely is a fact and a misfortune .It does not  appear to be the most important factor among all other factors of production contributing to the growth of the economy and saving cost. If one were to assess the losses caused to men, materials and wealth creation on account of  wastage of time and delay in the achievements  of results in any walk of life, one may get the shock of his life that misses are many and plenty and dreams are only chasing a mirage.Though, Nature, despite changes in global warming and other challenges faced, continues  to maintain its time schedule and provides all seasons, summer, Monsoon, winter and spring without fail, we human beings unfortunately miss out even all our essential  schedules and the targets and achievements. The judiciary is perhaps the worst in the management of time and next comes administration and provision of the required infrastructure to facilitate the fast movement of the economy upward and forward.  Just to cite a very small example of neglecting time value and ignoring the  resultant benefits of accrual to the economy and the people in terms of money , wealth and above all comforts and conveniences , I would like to highlight here that the GAS AUTHORITY OF INDIA Ltd , a public Sector undertaking of high repute has installed pipeline for about 2000 flats some years back  to give piped gas connection, but neither the connection has been given nor given any indications to the community as to when the connection would be given. The continuing  loss suffered by the Public Sector undertaking, the economy, by the society is enormous and nobody seems to be accountable. This is a criminal way of idling money and ignoring the concept of time Management fruitfully. One can cite umpteen examples where time gets completely ignored from the perception of Management and even from Factors of production. This is not to cast aspersion on any one but to highlight the ground reality on how infrastructural  and financial issues get delayed and the economy is made to suffer.    

The  dream and the target envisaged for the economy  to be the  fastest and the most advanced by 2047 can be a reality only if the Concept Time Management is literally understood and put into practice by all segments of the people in all and every aspect of  life  and work with vigour , diligence , commitment, and without waste of time in any manner.       

Loka Samastha Sukhino Bhavanthu. 

T V G Krishnan.

Lovely Editorial _ Very appealing

 Lovely Editorial -Very Appealing

This refers to the editorial India United, All For One, One for All (ET 9/05/25).This is one of the  best editorials of recent times, highlighting the coming together of all party leaders and expressing their solidarity and total support to fight the common adversary . The summing up of the unified state by the Honourable Home Minister Mr Rajnath Singh that “we don't indulge in politics just to form a Government , but we do it to build a country is  highly CLASSIC  and deserves to be displayed in Golden Letters, in Parliament  for all to see always, appreciate and admire about the strength of democracy and the unity in diversity among the parties , in time of need and adversity. The saying that Union is Strength is well demonstrated going by the well meaning statements of the Opposition leaders like AIMIM Chief, Asaduddin Owaisi. Ardent Critic of the Government, Mamata Banerji and Congress President Mallikarjun Kharge. The conclusion that when the going gets tough, the tough get going putting aside all political, ideological differences is indeed a very clear message ensuring that timely toughness is maximised by unflinching support across the country from all parties and the people. May this unity and solidarity remain strong and take the nation forward very fast and make the dream of being the most advanced economy by 2047 a reality. 

T V Gopalakrishnan

Bengaluru         

PSU bank distributes Books at depositor's cost ?

 

I have seen banks indulging in cross sales and make customers to buy insurance products and other financial products though strictly not permitted as per rules and directives from the RBI. Ordering books ultimately at depositors' cost using depositors money to the tune of Rs7.25 crores for distribution across the country through zonal offices is something unheard of and a totally innovative approach to enhance banks quality of customer service perhaps . This only smacks of disrespect and total disregard in understanding the functions of banking, their role and responsibilities in serving the economy, banks deposit customers with whose backing banks survive and earn their bread and butter. It only reflects poorly on the Governance standards and lack of accountability to the regulator and supervisor .

( This comment appeared in Money Life dated 6/5/25 against the article Union Bank under fire over Rs 7.25 crore Book order: Suspends GM). 

TVG Krishnan.

AI in customer Service also needs human interface.

 

AI in Customer Service also needs human interface. 

Very well written and the absence of human interface in the highly digitalised atmosphere , Customers and their real issues get not only ignored but they get harassed and are made to suffer physically , financially and mentally . My recent experience is that a clerical error crept in in entering the date has resulted in rejecting my entitled medical claims and I am made to run around to get the issue sorted out wasting time , energy and undergoing mental strain . The need for human intervention is paramount in dealing with customer oriented services without which there is no great future neither for the businesses nor for the customers . Customer is a king is a forgotten slogan and technology rules the roost and kills all human related sensitivities is the ground reality . The humane touch which is the foundation of any progress of any nation or business or anything that matters is unfortunately missing these days is very sad and pathetic .

( This comment appeared in Money Life dated 2nd May 2025 in response to the article AI in Customer Service Frustration with Glitchy automation and data capture )