T.V.Gopalakrishnan (mumbai)
26 Apr, 2011 08:38 AMThe problem of NPAs exists as long as banks deal with money and people. As it is, there is erosion of values and ethics in the system. Corruption and fraud have become part and parcel of business deals. In thi background, prudence demands that there should be a built in mechanism to contain the problem of NPAs involving individual borrowers and making them accountable. General provision and specific provision towards NPAs only affect the other stake holders of banks other than bad borrowers,of banks and such there should be a mechanism to penalise the defaulting borrowers on an ongoing basis for which the creation of Precautionary Margin Reserve Fund taking a small levy from bad borrowers based on their conduct of transactions with the banks is the only permanent solution for the perrennial problem of NPAs. Will the authorities care for such solution?.
Appeared in Economic Times e-paper-http://economictimes.indiatimes.com/usrmailcomment.cms?msid=8086930&usrmail=gopalakrishnan.tv@gmail.com&mailon_commented=1
Tuesday, April 26, 2011
Monday, April 25, 2011
Leader for the top IMF post
Leader for the top IMF post.
This refers to your editorial' Picking leaders for the top IMF post (April,20, 2011). As rightly highlighted, merit not gegraphy should be the criteria to identify the right candidate to occupy the top IMF post. The world economic scenario is changing fast and some of the developing economies have been emerging as leaders capable of giving direction to the world economy, The role of IMF has to be proactive and it shouuld ensure that all economies perform well and generate the strength to withstand future shocks.
The financial crisis of 2008 has shattered many economies and the recovery cannot be stated to be evenly spread or well shared. The person who fills up the top post in IMF should be a visionary and view the problems of all economies whether developed or developing alike and find solution acceptable to all without jeoparadising the interest of any of the IMF members. The approach of the IMF should be to ensure that no economy sufffers from poverty, unemployment, illiteracy and lack of development. The balance of payment crisis, trade barriers, exchange rate adjustments, movement of funds between different economies etc need to be closely monitored by the IMF and the members have to extend full cooperation to IMF to ensure that the problems if any in any economy should not unduly affect other economies. This is possible only if the top person of the IMF views the whole world as one economy and gets the support from all the different economies.
This letter was sent to Financial Times
This refers to your editorial' Picking leaders for the top IMF post (April,20, 2011). As rightly highlighted, merit not gegraphy should be the criteria to identify the right candidate to occupy the top IMF post. The world economic scenario is changing fast and some of the developing economies have been emerging as leaders capable of giving direction to the world economy, The role of IMF has to be proactive and it shouuld ensure that all economies perform well and generate the strength to withstand future shocks.
The financial crisis of 2008 has shattered many economies and the recovery cannot be stated to be evenly spread or well shared. The person who fills up the top post in IMF should be a visionary and view the problems of all economies whether developed or developing alike and find solution acceptable to all without jeoparadising the interest of any of the IMF members. The approach of the IMF should be to ensure that no economy sufffers from poverty, unemployment, illiteracy and lack of development. The balance of payment crisis, trade barriers, exchange rate adjustments, movement of funds between different economies etc need to be closely monitored by the IMF and the members have to extend full cooperation to IMF to ensure that the problems if any in any economy should not unduly affect other economies. This is possible only if the top person of the IMF views the whole world as one economy and gets the support from all the different economies.
This letter was sent to Financial Times
Thursday, April 7, 2011
Hazare's fight only Last Resort
This refers to your strongly worded edit ' Hazare hazard' ( April 6,2011). It is a pity to note that Business standard has not found favour with the rationale behind Hazare's fasting for introduction of the Lok Pal Bill which has been a long standing demand in the interest of the welfare of the people in a free democratic society.
The country is facing scam after scam and many make money at the cost of the poor masses and it is unjust and unfair on the part of Business Standard to find fault with the move adopted by Sri Anna hazare supported by people from all walks of life. He has resorted to this extreme step as no visible, acceptable and convincing solution is put forth from the authorities for decades. His demand is only to have the draft bill prepared in association with people who care for public welfare along with elected representatives who seem to ignore the issue of corruption for self intererst. This is the crux of the matter and the initiatives so far taken if any to root out corruption from public life have not been convincing or convinced the masses. Pointing out some technicalities and objecting to the movement initiated by Sri Anna hazare is the least expected from a media like Business Standard. The need of the hour is to have a lasting solution for ever increasing corruption and the means adopted by Sri Anna Hazare with massive support for that would fully justify the ends. Mr Hazare's health is a concern for all the masses behind him and their prayers are for hiim.
An edited version of this has come in todays Business Standard.
Dr T.V.Gopalakrishnan.
The country is facing scam after scam and many make money at the cost of the poor masses and it is unjust and unfair on the part of Business Standard to find fault with the move adopted by Sri Anna hazare supported by people from all walks of life. He has resorted to this extreme step as no visible, acceptable and convincing solution is put forth from the authorities for decades. His demand is only to have the draft bill prepared in association with people who care for public welfare along with elected representatives who seem to ignore the issue of corruption for self intererst. This is the crux of the matter and the initiatives so far taken if any to root out corruption from public life have not been convincing or convinced the masses. Pointing out some technicalities and objecting to the movement initiated by Sri Anna hazare is the least expected from a media like Business Standard. The need of the hour is to have a lasting solution for ever increasing corruption and the means adopted by Sri Anna Hazare with massive support for that would fully justify the ends. Mr Hazare's health is a concern for all the masses behind him and their prayers are for hiim.
An edited version of this has come in todays Business Standard.
Dr T.V.Gopalakrishnan.
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