Hearty Congratulations to the Times of India Team for its edition of 15th August 2024 i.e. India's 78th independence day for bringing out the Independence Day Special supplement as an Advertorial and promotional feature presentation under the Title Leaders of Change. It is not only a very timely and imaginative presentation but also the most appropriate, very motivative and provokingly excellent food for thought to the people of the Great Nation to introspect, act and realise the dream of being a developed nation by 2047. The topics covered inter- alia include broadly Politics, Economics, Social and Technological aspects and provide enough of ideas to all intellectuals and leaders engaged and sincerely interested in the development of the nation and making it a powerful economy of the world ensuring welfare of the humanity in the whole Universe in terms of peace, prosperity and fulfilment in every sense. Such a well intended and highly objective journalism would definitely add values and enrich the people a lot. Keep going strong and let us all be really proud of our nations' highly potential capabilities, resources and achievements. May God bless us All Always and in All Ways.
Thursday, August 15, 2024
Congratulations to Times of India Team
Loka Samastha Sukhino Bhavanthu.
TVG Krishnan
(personal Views)
Monday, August 12, 2024
Deposits the Bread and Butter of Banks and THE DEPOSITORS as well.
Deposits the Bread and Butter of Banks and the Depositors as well.
This refers to the news report ' FM tells lenders to bulk up Deposits (ET 11th Aug)' .The need to enhance the deposits of banks is sine qua non for not only for banks but also for the economy to realise the dream of the PM to make the economy fastest growing and realise the dream of our PM to take the nation forward and outsmart other advanced economies to reach on top of the world by 2047. Banks, the most powerful engine for the growth of the economy, need to mobilise the savings of the masses particularly the household savings lying in different forms searching for better returns, safety and liquidity despite high inflation, dwindling deposit rates, varieties of taxes and risks of loss of savings itself in speculative ventures.Even the RBI Governor has goaded the banks to find innovative ways to augment deposits and minimise the mismatch between the deposits growth and credit growth. The fact that both the FM and the RBI Governor have echoed the same views on the need for banks to augment deposits by all means , it should make the policy makers to introspect deeply on arriving at the fundamental causes that lead to erosion in deposits, household financial savings , diversion to speculative savings to make a little extra and think of a fresh approach to have well coordinated fiscal and monetary policy measures through a well thought out economic policy. While the Fiscal policy of the Government can definitely incentivise the savers and banks to augment the deposits through tax changes , the monetary policy of the RBI can definitely influence the banks to have innovative ways to attract deposits and quality credit deployment . Added to these, better, meaningful, result oriented administrative initiatives in enhancing the quality of Customer Service intended and rendered by banks at the ground level can do wonders in augmenting the deposits by leaps and bounds. As long as the real rate of interest earned remains 0 or negative because of inflation and high cost of living , the banks cannot expect to mobilise household savings and public cannot be expected to provide any emotional and economic support to the Government for all its economic development. Ground realities at micro level need to be understood and factored into while making economic policies by policy makers and administrators while implementing the policies.
Though the Middle class remains the backbone of any nation and the banking system remains the backbone of the economy the approach and treatment meted out to the middle class need to be reexamined, reviewed and effectively managed diplomatically, logically, politically, financially and socially in letter and spirit. Hope some sensible and noble thoughts and actions would follow from the authorities for a change in outlook in policies aiming at the welfare of the masses all round and betterment of the economy covering all segments of the economy and faster growth of the country.
Loka Samastha Sukhino Bhavanthu.
T V G Krishnan
(personal Views )
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