Puttennahalli Lake :A living Heritage that needs care and attention always.

 Puttenahalli Lake: A Living Heritage That Deserves Our Care

The Puttenahalli Lake continues to be a lifeline for thousands of residents living in and around the area. With its well-maintained rainwater inflow, treated water from neighbouring high-rises, and its vibrant ecosystem of birds throughout the year, the lake stands as a precious natural asset. The carefully nurtured plants and trees, along with the neatly laid footpaths, make it an inviting space for morning walkers, nature lovers, and all who seek better health and quality time in a serene environment. It is truly a blessing of nature—one that deserves sustained protection for the sake of its flora, fauna, and aesthetic charm.

The South City community, which shares a deep physical, emotional, and sentimental connection with the lake, has played an extraordinary role in its development and upkeep. Under the leadership of Mrs. Usha Rajagopalan, the dedicated and committed team has, for over two decades to my personal knowledge, worked tirelessly—often overcoming constraints and hurdles—to nurture the lake and make it a place of pride and attraction for everyone. Their contribution is well-known and deeply appreciated.

It is my sincere hope that Puttenahalli Lake will continue to retain its glory, beauty, and ecological richness, serving the surrounding community for many decades to come. With continued innovation, commitment, and environmental stewardship, may the lake only grow in splendour and significance.

Dr. T. V. Gopalakrishnan

A well wisher of this Lake. 

Both travellers and flyers cannot be harassed and squeezed . They are the Lifeline for the Airlines and the emerging economy.

 Dear Sir,

Apropos your editorial DGCA, get a grip, clear the Air (ET  dated 8th Dec )Indigo cannot be allowed to go scot free and free itself from Air at its own will and pleasure .Trust of the flyers is its major capital.  DGCA also cannot take a lenient view of its regulated entities and their failure to adhere to the safety norms by enforcement of the standards envisaged for pilot rostering regulations. The timing chosen by Indigo  to harass the travelling public to disrupt the air services is most untimely and unjustifiable not only from Customers angle but also from the angle of keeping the nation's image as the fastest upcoming country having tourism as one of its most attractive economic activities with forex implications. This crisis is avoidable and should have been avoided at any cost. The GOI does its best to support the aviation industry and the standards of safety cannot be undermined by any airlines in the interests of consumers and safety of all crew members and others. The grievances if any should be sorted out amicably with the concerned authorities  and definitely without inconveniencing the travellers who have also values for their money, time, emotions and sentiments. The stance taken by the airline in not refunding the fare in full  to those who have been affected with this crisis is not fair and the affected customers should be taken care of by the Airlines without any room for complaints in the matter. Customer satisfaction is the ultimate success for any Customer oriented Industry.   

T.V.Gopalakrishnan

( Edited version of this letter was sent to ET  on the 8th. ) 

Is it not time to tame the Assets from Inflation and contain Speculative Investments

 Dear Sir,

This refers to your editorial Crypto's wild west moves need taming.(ET 2nd Dec) The  fluctuations seen in Cryptocurrency these days are abnormally abnormal and It is now time to tame the Investors ,  speculative assets and the classes of people who have all assets and wealth to speculate and make the market jittery and unhealthy by sensible regulatory and supervisory initiatives. The cryptocurrencies and stable coins though may have gained currencies and have come to occupy a reasonable  space in the market in terms of participation despite reluctance and acceptance by majority of market players and participants, the continued disturbance , speculative tendencies , and  their own uncertainties as a viable financial products definitely cause a disturbance and irritation perhaps to authorities, the economy and and the stability of the financial market.. In such a scenario, it is advisable to have an open debate and review of the continued existence of such products and their merits and demerits to help the financial system and the  capital and money market and their much needed stability to support the Government and its national objectives.  The curbs if any on these speculative transactions can definitely help to contain the unabated  inflation wildly seen in Gold, silver , real estate and other undesirable activities.  

T V Gopalakrishnan

( This letter was sent to ET on @nd Dec 25). 

Name loses its primacy and is being replaced by Numbers.

 

The Name Was Everything—Until Numbers Took Over

A name, once upon a time, meant everything. It carried one’s identity, lineage, culture, and belonging. Numbers were nowhere in sight. Today, however, they have quietly replaced names and become our new identifiers.

I, bearing the name T. V. Gopalakrishnan, was born and brought up in Palakkad—a district in Kerala known for its conservative lifestyle and its deep agricultural roots. When I entered first standard in 1954, I officially became “Gopalakrishnan,” though at home I answered to affectionate pet names, each reflecting the intimacy of the relationship with the person calling me.

As I approached the X Standard public examination, the authorities insisted that every student finalise their name; any change later would be cumbersome. With youthful enthusiasm and family tradition in mind, I declared my full name as Gopalakrishnan T V—Gopalakrishnan as my personal name, T for my village Thrithamara, and V for my father’s name, Venkatachalam. In those days, no one complained about long names or the time taken to write them. A name carried a story, and we took pride in wearing it fully. Of course, this long name was often an irritation for officials—particularly at international airports—when they struggled to match the visa with the passport entries.

Through school, college, and postgraduate studies, this name journeyed with me. When I earned my postgraduate degree, adding it after my name felt like an honour—an unspoken badge of aspiration and achievement. Gradually, the etiquette of the time nudged me to place my initials at the front and my qualifications at the end. Every degree added a new suffix; every stage of life added a new nuance.

In the late 1960s, I began my career as a Lecturer in a reputed college in Coimbatore—a Tamil Nadu city known for textiles, engineering excellence, and its forever-pleasant climate. Life was comfortable, stable, and filled with academic possibilities. Names in Tamil Nadu reflected a culture quite different from that of Kerala.

Yet destiny had other plans. A delayed job offer from a major institution redirected me to Mumbai—an abrupt shift from a peaceful town to a bustling metropolis. But professionally, Mumbai proved transformative. It broadened my worldview and exposed me to every shade of human experience—materialism, spirituality, struggle, privilege, and the deeper values that anchor life.

It was in Mumbai that I encountered an entirely different universe of naming conventions. Forms suddenly demanded “surname,” “first name,” “middle name,” “last name”—each interpreted differently across agencies. Ration cards, driving licences, passports, PAN, Aadhaar, railway and airline bookings—every standardised form required perfect consistency across dozens of documents. What had once been a simple, dignified matter of identity now became a bureaucratic puzzle. In some places, my village name, Thrithamara, became my name; in others, my father’s name took that place. My own name, Gopalakrishnan, slowly lost its primacy—at least in the world of forms, records, and travel documents. There were moments of embarrassment, but I eventually learned to compromise with whatever the situation demanded.

As life progressed, so did the titles. Earning a PhD brought both the honour of “Dr.” and the deep satisfaction of academic achievement. Dr became a prefix and educational qualifications a sufix to my name.   But soon, technology and administrative reforms swept through quietly and decisively and to my surprise—followed by reluctant acceptance—names and degrees gradually began losing their importance.

 Numbers had taken over.

Today, we are recognised not by our names but by Aadhaar numbers, PAN numbers, mobile numbers, pension IDs, provident fund accounts, and insurance codes. These numerical identities, though impersonal, have undeniably made life convenient, simpler, faster, and more efficient. And so, after decades, a curious realisation dawns: Numbers help not to expose the religion, caste, race , gender, status in society and brings in equity and equality to the advantage of humanity in general .

 The world now prefers our numbers to our names.

Names still carry emotion, heritage, and personal pride. But for systems, processes, and daily transactions, it is our numbers that matter far more. Perhaps, then, the modern advice to new parents should be: Choose a beautiful name for sentiment—and be ready for the various systems to assign a dozen numbers for convenience.

Sarve Jana Sukhino Bhavanthu.

T V G Krishnan

(personal Views).

Let Artificial Intelligence Help Cure the Economy's Ailments

 

“Let AI Help Cure the Economy’s Ailments”

India has the natural abundance, human talent and a civilisational wisdom that should by now have translated into broad prosperity. Yet 75 years after independence many old ills — corruption, black money, inequality, poor public infrastructure, tax evasion, and uneven delivery of services Social Justice in particular — persist. The paradox is stark: a nation with Nobel laureates, leading scientists and great thinkers continues to suffer avoidable deprivation while a small fraction parades luxury.

This is not only an economic failure and absence of social justice but also ; it is a failure of systems, incentives and governance. Politics, sometimes driven by short-term electoral gains, can warp policy: freebies displace fiscal discipline, regulatory gaps invite abuse, and influence enables insiders to exploit loopholes. The result is a loss of public trust and the squandering of national potential.

Technology — and in particular Artificial Intelligence — is not a panacea. But when deployed thoughtfully, ethically, and at scale it can be the most practical remedy for many entrenched problems. AI can strengthen transparency, detect malpractice, improve delivery of social services, and redesign public administration so that honesty and competence are rewarded rather than undermined.

Imagine tax systems that use machine-assisted analytics to spot suspicious flows and close leakages, without harassing honest citizens. Imagine procurement and tendering platforms that are fully transparent, tamper-resistant and auditable; judicial and case-management tools that reduce delay and frustration; land- and records-management systems that cut out middlemen; and public health and education platforms that deliver personalised learning and care to remote villages. All of these are feasible today.

But technology must be married to ethics. AI systems must be explainable, regulated and subject to independent audit so they do not replicate bias or become new tools for exclusion. Digital rollouts must be accompanied by digital-literacy programmes so the poorest are not left further behind. And governance must be reformed to protect public interest: rules, firewalls and statutory accountability must keep pace with technical capacity.

Equally important is the cultural aspect. India’s philosophical heritage—its emphasis on duty, compassion and the common good—can provide the ethical compass for technological change. Reviving those values in public life, while equipping institutions with modern tools, could produce a synergy the country desperately needs.

The task is urgent. Greed, short-termism and opaque power structures have hollowed out parts of the system. Reversing that requires political will, institutional redesign and wide public engagement. Artificial Intelligence can help expose and prevent malpractices, make public administration efficient and humane, and enable policies that are evidence-based rather than interest-driven.

Let us aspire, not merely to be wealthier, but to be wiser custodians of our resources — human, natural and moral. If deployed with care and integrity, technology and AI can accelerate that transformation and help realise the promise of a just, prosperous India: a nation where “Vasudev Kutumbakam” is more than poetic aspiration — it is the policy outcome.

May noble thought translate into noble action and bring in highly desirable and most enviable results

Sarve Jana Sukhino Bhavanthu.

T V G Krishnan

(Personal Views)

Bridge Sham on the River scam

 This refers to article “Where is the money going?”, by Kum Kum DasGupta (NOV6) . A large part of public  money    appears to drain away without commensurate creation of durable physical or social infrastructure. While a few benefit disproportionately, the taxpayer is left to wonder why our cities are collapsing even as the economy expands and ambitious visions are announced. Governance and accountability appear to be missing in the management of public finances—and, increasingly, in private financial systems as well. It is time to revamp our financial reporting architecture so that accounts, reports and certifications not only capture numbers but are aligned with the stated vision, mission and outcomes of institutions. Financial statements must reflect performance against purpose, not merely compliance with procedure.

T V Gopalakrishnan

BENGALURU. 

( THIS appeared in ET dated 7th Nov 2025). 

Why not we have The Collective Will to realise the Dream of an Advanced Economy a reality ?

 

Policy Brief: 360° Balance Sheet Rating System

Restoring Trust in Financial Reporting and Governance

Background

Balance sheets today often conceal more than they reveal. Despite audits and regulatory oversight, window dressing, inflated valuations, and opaque disclosures have eroded public trust. The traditional focus on compliance and arithmetic accuracy no longer guarantees financial integrity or ethical governance. 

The Proposal: 360° Balance Sheet Rating

A 360° Balance Sheet Rating System is proposed to assess not just financial correctness but the entire ecosystem of transparency, governance, and ethics behind an organisation’s financial reporting.

Key Evaluation Dimensions

1. Financial Accuracy – True asset valuation, liability recognition, revenue authenticity.

2. Governance & Ethics – Board independence, accountability, conflict-of-interest controls.

3. Transparency & Disclosure – Clarity, completeness, and honesty in reporting.

4. Compliance Discipline – Adherence to tax, regulatory, and prudential norms.

5. Sustainability & ESG – Ethical, social, and environmental responsibility.

6. Technology & Risk Controls – Fraud resilience, cyber audit trails, AI integrity.

Rating Scale (Indicative)

AAA – Fully transparent and ethically sound
AA / A – Reliable with minor gaps
BBB / B – Moderate to high opacity and risk

Implementation Framework

• Independent Certified Agencies: Empanelled by RBI/SEBI/NFRA.

• AI-Driven Analysis: Data triangulation using audit reports, digital trails, and forensic tools.

• Annual Review: Mandatory re-rating for listed and large unlisted entities.

• Public Disclosure: Ratings to be included in annual reports and filings.

Expected Outcomes

• Restored trust in financial reporting.

• Reduction in frauds, NPAs, and governance failures.

• Strengthened market credibility and investor confidence.

• Promotion of ethical, transparent, and accountable capitalism.

Policy Recommendation

Regulators (RBI, SEBI, MCA,IRDA ) may jointly pilot the 360° Rating Framework for banks, listed companies, and large PSUs. Over time, extend it to NBFCs and major private enterprises. This reform can serve as a national benchmark for financial honesty and governance integrity.

Once a balance sheet is finalized strictly in accordance with accounting standards, regulatory norms, and the due satisfaction of banks, major clients, tax authorities, and professional auditors—with adequate internal and external controls to prevent fraud and manipulation—it should stand as a true and transparent statement of financial reality.

Such integrity in financial reporting strengthens stakeholder confidence, enhances trust, and reflects professionalism of the highest order. When governance standards are upheld consistently and without compromise, they have the potential to become global benchmarks. India can then truly emerge as a role model in accounting practices—where transparency is not an exception but the norm, and where accuracy and ethics inspire respect, admiration, and emulation across borders.

The question now is: Do we have the collective will—regulators, corporate leaders, auditors, and financial institutions—to make this vision a reality?

Satyameva Jayathe. May there be happiness, welfare and the Joy of enjoying Life by all in the Universe. 

Dr T V Gopalakrishnan

(Views are Personal).

The need of the hour is only to enhance better mobility of the people through Well RUN Administration.

 Dear Sir,

The  need of the hour in Bengaluru is better mobility  of the  people and fast and efficient  movement of goods and services to ensure optimum utilisation of the resources  under command for the maximum welfare of the people . From this angle, should BMTC take the privatisation road? is the debate thrown and  the answer is a definite NO. However there is urgent need to assess as to whether the Investments in the BMTC have done full justice in terms of optimum realisation of returns from the angle of utilisation of the human and other resources and whether all the objectives of the BMTC services have been met to the satisfaction of the Management of BMTC, the Authorities and the Public? No doubt the services of BMTC get badly affected for want of good roads and other infrastructure and the comparisons with similar placed organisations can have some meaning only if all ingredients in use are compared. In fact my own view is that BMTC does a good job when compared with other institutions if one were to take the limitations BMTC face to run its services in terms of infrastructure.Chennai. Mumbai and Delhi have better Roads and as well developed  industrial states have certain inbuilt advantages by way of political , social and economic developments. Bengaluru came in the development stature comparatively late and the sudden surge seen in IT development in Bangalore took the whole state and city by surprise and to match this development the infrastructure development lagged behind and this cannot be taken as a setback or serious lapse. 

Even now the situation is not that bad as is generally made out to be taking into consideration the natural advantages the state and city enjoy . 

The State and City have the best of Human Resources and nothing is impossible once they decide and get ready to take up the challenges. 

 What is required is a bit of coordination and clear cut policies from the Legislative, judiciary and administration. A top level committee consisting of all three can be set up to identify the gaps seen in the proper development of infrastructure and initiate steps to overcome and implement the required measures under some strict vigilance, supervision and accountability. 

Roads are only for free flow of traffic and not for marketing, dumping of materials of all kinds, wastages, and any other activities. The development of roads needs thorough thinking, planning , and execution keeping in view the expected increase in the population, economic developments , social advancements, etc.  

Accountability of the Institutions involved in the construction, maintenance and administration of roads needs to be fixed on an ongoing basis in a very systematic and professional manner without giving room for any interference of any sorts of power either politics or bureaucracy. 

Some of the steps that can be thought of to ease the traffic and improve the image of BMTC perhaps

City Traffic improvement Committee to be set up Consisting of 

1Some political leaders from all parties, Some  senior bureaucrats who have vast experience in the administration of  Transport system,Some very senior police Officers having experience in managing City traffic, Some eminent public representatives and think tankers who can contribute good thoughts and actionable changes.

2 Change of the present system of routes  pursued by the BMTC. There should be connectivity of Metros and the bus routes touching the major centers of population concentrates..Rerouting of the BMTC buses and covering long routes in less times should be thought of. while the present approach to terminate buses at Shivaji Nagar, Kr Market and Majestic can continue, there should be enough buses

 to ply long different routes and areas touching these points .

3 There are some traffic pressure points in the City like the Corporation area,JC Road , 24th main road,Jp Nagar, double Road, jayanagar some signals . These sorts of pressure points block the traffic which if planned and administered properly , traffic flow is made smooth, a lot of time can be saved and drivers and public can have a great sense of relief. It requires inviting public suggestions and surveying by regional Transport officers and Traffic control Police officers and BBMP and BDA officials.This requires only application of mind and adjustment of the movement of traffic Some man made hurdles which can and needs to be tackled needs to be taken care of by force or negotiation and compromise in public and larger interest. Involving the public and seeking their help would go a long way in removing some of the hurdles seen in some busy roads  and easing the traffic.

4 Continuous education of public in maintaining the roads in top condition and strict monitoring of the traffic rules and regulations on an ongoing basis can definitely be visible in avoiding haphazard parking, dumping of wastes on the roads, unauthorised use of roads for all sorts of activities etc, 

5 Encouraging sharing of private cars, Taxis and introducing smaller BMTC buses to manure in very small roads and gullies  and providing better connectivity to metros with meticulous planning and execution of arrangements to transport people can be a practical solution to minimise the traffic congestion.

6 The roads go bad due to several reasons which need to be fixed with long term and short term approaches having heavy expenditure and time lag effect. 

As a regular short term measure the authorities can think of having mobile Road repairing units to fix small and fixable potholes and this work can be given on a contract basis with incentivised compensation. To fix major repairs and provision of long durable roads, better to go in for an All India Tender and have some sort of tripartite agreement too. Once the road is completed this should be maintained by the same party for a definite period under an insurance scheme. The scope for corrupt practices should be minimised if not eliminated altogether though highly desirable. 

As a citizen deeply interested in the welfare of all , I just write to you as feedback to your wonderful ,well thought and wonderfully written article. 

Readiness of the authorities is all that matters. If there is a will there is always a way out to make things happen and work for the betterment of life for all. 

These are all my personal views . If it is useful in some way , I feel delighted. Since this is a point blank feedback I took the liberty. 

       

Thank you, I take this opportunity to wish you and family a very happy diwali and happy days ahead always and in all ways. 

With regards,
Dr.T.V.Gopalakrishnan

(This comment is given as Feedbaclk to an article on should BMTC take the privatisation road?that appeared in Deccan Herald on 17/10/25).

Provision of Good Roads is an inevitable social and economic Justice.

    Good Roads also a matter of  economic, social Justice

This refers to your editorial  Bengaluru seeks intent, not excuses Deccan Herald (oct,14).Due to the pathetic condition of Bangalore’s roads ,the daily hardships citizens endure, the loss of time, money , health and the reputation of the City and its people suffer are something unavoidable to a great extent if the intent instead of excuses as rightly put in the editorial is in place.  Provision of good roads and their upkeep is not merely an infrastructural need—it is a form of inevitable  economic and social justice. Roads are the lifelines for mobility, essential services, and economic activity, while also serving as a mirror of governance standards. Smooth, safe, and well-maintained roads make life not only comfortable but also dignified, reflecting a government’s commitment to citizens’ welfare. People miss a lot of their economic, social, emotional, sentimental, precious time, and other small small desires and  limited aspirations for want of the very essential movements in the absence of safe, comfortable and very  inevitable social visits within the city. Roads play a key role in maintaining not only the social connections but also keeping the people in good mental and physical  health conditions is a ground reality which cannot be denied to them on flimsy grounds.The leaders cannot ignore their essential leadership capabilities and these are all perhaps their memorable contributions worthy of  showcasing their image, reputation and proven popularity.    

The responsibility, however, cannot rest solely on the government. Citizens too must recognise their duty in avoiding / preventing hazards, potholes and damage by refraining from dumping garbage, construction debris, or unauthorised parking / violation of traffic rules that choke free movement. Civic indiscipline adds to chaos, delays, and needless suffering.

With better coordination between the administration and the public, Bangalore can have durable, quality roads. Proper governance and responsible civic behaviour can ensure optimum use of resources and prevent wastage of time, money, and effort. The man-hours lost in commuting, and the mental, physical, emotional, and financial stress citizens undergo due to poor roads, is beyond imagination—and must no longer be ignored. Corruption and corrupt practices in the general administration  of public goods and services if avoided  by thoughts, words and  deeds by all and any associated can have only pleasant,  lasting and ever relishing memories.  Good roads ensure not only the  welfare of people but also reflect on the sensitivity of the Governance system in vogue and prove to be the best and easiest way to earn the goodwill of the people.   

 

T V Gopalakrishnan

(Personal views)

Bangaluru.

( Modified version of this letter is published in  Deccan Herald dt 15/10/25).

Prevention of NPAs in Banks is an inevitable Social Justice.

 

NPAs in Banks — At Whose Cost? The Economy and Its Stakeholders

The banking sector in general—and public sector banks (PSBs) in particular—has long operated in a manner that drains depositors’ and taxpayers’ money, aided by a nexus of politicians, bureaucrats, bankers, and errant borrowers under a relaxed regulatory environment. Former Prime Minister Atal Bihari Vajpayee candidly stated in the 1990s that “NPAs are nothing but loot.” The system has known this truth for decades, yet the problem persists despite getting some enhanced legal support as of now again at a high cost in terms of time and money - just because depositors and taxpayers silently bear the burden. Periodic bailouts follow whenever the crisis threatens financial stability.

Depositors have few safe avenues for savings beyond banks, and alternatives like gold, real estate, or other commodities often serve as conduits for unaccounted money and speculative activity rather than productive investment.

A lasting solution to the NPA problem requires discipline—both among bank managements and their borrowers—and an independent, efficient regulator free from political or bureaucratic interference. Such a model was proposed as early as 2004 in Management of NPAs in PSBs by Dr. T.V. Gopalakrishnan, published by the Indian Institute of Banking and Finance, with a foreword by Dr. C. Rangarajan, former RBI Governor and Chairman of the Prime Minister’s Economic Advisory Council. The book proposed the creation of a Precautionary Margin Reserve Fund (PMRF)—a shared responsibility mechanism between lenders and borrowers—to contain NPAs, incentivise good borrowers, and penalise poor credit behaviour.

Despite professional acclaim and recommendations for pilot implementation, the model was never adopted. Had it been, the banking system would likely have been far stronger today—reducing NPAs, preserving depositor confidence, and preventing the “twin balance sheet” problem that has repeatedly strained India’s financial stability. The recurring and accrual loss to the economy because of the NPAs is something of a very high magnitude which cannot be easily set aside to ensure and realise the the status of fast growing economy.

Dr. Rangarajan observed in his foreword (2 July 2004):

“High levels of NPAs affect profitability, liquidity and solvency of banks, ultimately impacting financial stability itself. The author has made several suggestions to contain their growth. One such idea—the Precautionary Margin Reserve Fund—envisages both borrowers and lenders contributing to a common fund. Only an efficient banking system can fulfil the socio-economic goals set for it, and this book explores precisely that.”

The RBI’s recent move to introduce minimum provisioning floors (0.25–5% for performing assets, based on risk class) is, in essence, a partial acceptance of this idea. The PMRF concept—built on mathematical objectivity and fairness—could have become an inbuilt corrective mechanism to identify good borrowers, discipline defaulters, and safeguard the interests of all stakeholders without bias or undue discretion.

Ultimately, depositors’ money—the core raw material of banking—must not be used to subsidise inefficiency or moral hazard. A system that compels prudent behaviour, transparency, and ethical accountability from both lenders and borrowers is not just sound economics—it is social justice.

Loka Samastha Sukhino Bhavanthu.

Dr T V Gopalakrishnan

(personal Views).

RBI's Sensible and sound Support to Government's dream of Atmanirbhar Bharat

 Levy Precautionary  Margin Reserves as PROVISIONS  from bad borrowers to save the  bank depositors and tax payers from Bad debts.  

According to the news report “RBI proposes 100% Bank Provisions”, (ET dated 8th Oct), the central bank’s proposal to introduce minimum provisioning floors ranging from 0.25% to 5% for performing assets—based on asset class and credit risk stage—is a prudent though long overdue  step to save depositors and tax payers from subsidising the default borrowers  Hope this proposed provision is levied from the borrowers to have a built in mechanism to prevent the formation of NPAs. 

Strengthening bank balance sheets through disciplined provisioning and promoting credit quality are essential for maintaining the health of the financial system and safeguarding the interests of all stakeholders, including the government and depositors. Such measures will provide the much-needed foundation for sustainable economic growth.

The Prime Minister’s vision of transforming India into a developed, Atmanirbhar Bharat by 2047 can be realistically achieved through these sensible and sound RBI initiatives, complemented by ongoing fiscal discipline—such as containing fiscal deficits while rationalising Direct Taxes and GST 2.0.

However, these financial measures must be supported by robust governance standards across institutions and public utilities, prioritising ethics, transparency, and welfare. Ensuring low food inflation, a bearable cost of living, equitable wealth distribution, and measurable trickle-down effects of growth are vital. Equally crucial is improving the quality of data on employment, tax compliance, and wealth creation to guide policy decisions effectively and equitably.

T.V.G Krishnan

Bengaluru 

RBI's Prudent decision and global Uncertainty

 Dear Sir,

            

              RBI Monetary policy with Great caution and lot of expectations. 

Apropos your editorial 'Unchanged Repo:a pause for expectation' (Oct3), the RBI's  recent monetary policy keeping the policy rates unchanged is nothing but an admission of the positive and negative changes affecting the economy from the national  and international dynamics seen in politics, economics, social and technology areas .While the national scenario offers political stability , favourable economic macro factors in terms of steady economic growth , benign inflationary expectations thanks to favourable  Union Budget measures particularly in containing fiscal deficit despite attractive income tax concession and GST 2.0 rationalisation aiming at massive consumption demand to boost the economic growth, the international scenario unfortunately has been highly unpredictable thanks to the geopolitical economic and social scenario thanks to the uncertainties emanating from the USA policies  basically having ripple effects on the economic front world over. All said the approach of the Reserve Bank to maintain neutral stance aiming at economic growth keeping the inflation expectation far below the minimum of 4.0% is a wonder facilitating the much needed credit growth innovative and growth oriented. The market sentiments have been kept in tune with the expectations and hope the economy continues to be in growth track as widely expected globally.        

T.V.Gopalakrishnan

Bengaluru. 

Modified version of this letter appeared in Deccan Herald dated 4th October 2025.)

Love -The Universal Force for Peace and Harmony.

                             Love – The Universal Force for Peace and Harmony

Make life lovable,  enjoyable and livable with peace, tranquility, and an awareness of its short and fragile nature, all dependent on Nature’s blessings and abundance. A change of mindset is all that is needed.

Love yourself, your family, your society, your state, your nation, other nations, the universe, humanity, all living beings, nature in its entirety—hills, rivers, mountains, oceans—and above all, love your own soul and link it to the Master Soul. There is nothing beyond love. Love alone is the unifying force that connects everything between the earth and the sun.

Life is the same for all living beings, but rational application varies. Human beings, blessed with intelligence and emotions, have misused rationality, often turning it into a source of discrimination instead of dignity, respect, and harmony. Nature, however, has retained its balance despite humanity’s arrogance, and when disturbed, it expresses fury—reminding us of the need to live in tune with it.

Religions, politics, and the lust for wealth and power have often divided humanity, breeding jealousy, hatred, and greed. These divisions have inflicted irreparable damage to peace and harmony. Yet, the Supreme Energy that sustains the universe remains unchanged, calling upon us to recognize unity in diversity.

It is time for enlightened religious heads, visionary politicians, social reformers, scientists, technocrats, environmentalists, administrators, and all right-minded people to come together. The common goal must be the welfare of all living beings, ensuring that the blessings of nature and the fruits of human knowledge are shared by every generation to come.

In the end, no one carries wealth or power—only a name, remembered briefly for one’s deeds. Let us therefore live with noble thoughts, selfless actions, and responsible leadership.

MAY Good BETIDE All People. May the Sovereign rule the earth, following the righteous path.May all beings ever attain what is good . May the Worlds be prosperous and Happy . 

(Universal Prayers Swami Yatiswaranda)

May there be peace and happiness for all.

— T.V.G. Krishnan (Personal Views)

---

Bangalore Roads - A case of Social Justice

 

This refers to recent media reports on the pathetic condition of Bangalore’s roads and the daily hardships citizens endure. Provision of good roads and their upkeep is not merely an infrastructural need—it is a form of social justice. Roads are the lifelines for mobility, essential services, and economic activity, while also serving as a mirror of governance standards. Smooth, safe, and well-maintained roads make life not only comfortable but also dignified, reflecting a government’s commitment to citizens’ welfare. People miss a lot of their social, emotional, sentimental and other small small desires and  limited aspirations for want of the very essential movements in the absence of safe, comfortable and very  inevitable social visits within the city. Roads play a key role in maintaining not only the social connections but also keeping the people in good healthy conditions is a ground reality which cannot be denied to them on flimsy grounds.   

The responsibility, however, cannot rest solely on the government. Citizens too must recognise their duty in avoiding / preventing hazards, potholes and damage by refraining from dumping garbage, construction debris, or unauthorised parking / violation of traffic rules that choke free movement. Civic indiscipline adds to chaos, delays, and needless suffering.

With better coordination between the administration and the public, Bangalore can have durable, quality roads. Proper governance and responsible civic behaviour can ensure optimum use of resources and prevent wastage of time, money, and effort. The man-hours lost in commuting, and the mental, physical, emotional, and financial stress citizens undergo due to poor roads, is beyond imagination—and must no longer be ignored. Corruption and corrupt practices in the general administration  of public good and services by thoughts, words and  deeds by all and any associated can have only pleasant,  lasting and ever relishing memories.      

Good roads ensure not only the  welfare of people but also reflect on the sensitivity of the Governance system in vogue and prove to be the best and easiest way to earn the goodwill of the people.   

 

T V G Krishnan

( personal Views)

 

Noble Man, Noble Thoughts, Noble Actions, Notable Achievements.

 

On the occasion of the Honourable Prime Minister’s 75th Birthday, I extend my heartfelt wishes for many more happy and healthy years. As a great visionary and role model—both as a leader and performer—he has consistently worked for the nation’s progress and the welfare of people everywhere.

May God bless him with strength, energy, and all resources to fast-track India’s journey towards Viksit Bharat, overcoming every obstacle and achieving the goal much ahead of 2047.

The achievements of our Prime Minister during the past 11 years, despite global and domestic challenges, remain commendable landmarks—placing him in a league of excellence by any standard.

T V G krishnan

(personal)

The need for world class PSBs.

The Need for World-Class PSBs

 India aims for Two PSBs on world top 20 list by 2047” (ET, 13 Sept), strengthening the banking system is paramount. Banks remain the strongest support system and backbone of the economy, mobilising resources and channelising them to meet domestic as well as international challenges—whether they arise from geopolitical uncertainties, currency and tariff fluctuations, or the disruptive sweep of artificial intelligence across economic activity.

Indian banks have travelled a long way, performing creditably in promoting financial inclusion, strengthening balance sheets by reducing NPAs, and empowering borrowers to become globally competitive in line with the Prime Minister’s call for Atmanirbhar Bharat.

It is now time for the system to introspect and revamp its structure, role, and performance to match the fast-changing global landscape. With the rupee gaining international recognition, digital transactions surging, and digital currencies erasing physical boundaries, Indian PSBs must think big. A possible three-tier banking model could be:

1. Banks catering to national and international requirements on a large scale.

2. Banks focused on domestic manufacturing and services.

3. Banks dedicated to agriculture, SMEs, and retail needs.

Since deposit mobilisation depends on customer service, inflation, cost of living, liquidity, safety, and returns, a specialised set of banks exclusively for household savings—including gold—can be envisaged. This could be supported by a stronger deposit guarantee scheme. Banks mobilising deposits can be a major source of finance to those who specialise in the deployment of funds. With this approach, the deposit mobilisation and customer service to depositors can have a game change in the economy ensuring optimum level of resources mobilisation of all kinds from households and others. 

Alongside two giant world-class PSBs for the global stage, such restructuring would ensure specialisation in mobilisation of resources and effective deployment of funds—helping India achieve its 2047 goal.

T V G Krishnan

( personal Views )

Faith in Administration induces Faith in Religion

 

Apropos the editorial “Faith can’t protect crumbling infra” (ET, Aug 29), what India lacks is not faith but sensitivity to safety, seriousness in providing infrastructure, and credibility to attract tourists. The greed to make easy money, particularly at religious places, thrives unchecked, with authorities often hand in glove with local goons. The experiences of tourists—domestic and foreign—at both pilgrimage and sightseeing centres are often disappointing.

Tourism has immense potential to attract FDI, generate jobs, spur investment and boost consumption. With sound physical and social infrastructure, backed by responsive governance, it can be a true driver of economic expansion.

The ongoing Trump tariff issue may even be a God-sent opportunity to intensify Atmanirbhar Bharat with renewed seriousness. Tourism development, along with safe transport, comfortable accommodation, and reliable services, can transform travel into a pleasant experience—nurturing faith, strengthening bonds, and connecting people with nature and culture.

It is time we shed complacency and act sensibly. Let us learn to be together in celebrating nature, life, and faith.

May there be Universal welfare for all Living  Beings .

T V G Krishnan.

(Personal Views).

Prime Minister - The Prime Motivator and the Most Performing Minister

 

Prime Minister – The Prime Motivator and Most Performing Minister Mr Modi. 

What India needs today, with its vast political, economic, social, and technological resources, is motivation to use them optimally and imaginatively. Honourable Prime Minister Shri Narendra Modi, as the nation’s Prime Motivator and a leader of action, has consistently infused this spirit in his Independence Day address from the Red Fort. His assurance of new measures particularly GST rationalisation by Deepavali to push economic growth and fulfil people’s aspirations adds to the hope of a happy, healthy, peaceful, and prosperous life for all citizens.

As a Great motivator, the Prime Minister has succeeded in keeping the nation’s spirit alive—urging people to Act,  Reform, Perform, and deliver despite global uncertainties, domestic challenges, and economic inhibitions. His leadership has ensured resilience, growth, and rising aspirations, setting the stage for India to dream of becoming a developed nation by 2047, when we mark 100 years of Independence.

May God bless him—always and in all ways—for his visionary leadership and his dedication to universal welfare and the progress of India.

—T. V. G. Krishnan (Personal Views)

Minimum Deposits :Banking on exclusion and Not inclusion.

 Minimum Deposits: Banking on exclusion, Not inclusion

Dear Sir,

This refers to “RBI clears the air on Minimum Deposits” (ET, 12/8/25). The RBI Governor has rightly clarified that minimum deposit thresholds are set by banks, not the regulator.

 However, not withstanding this , the fact remans that in a country where a majority of the population  depend on subsidies and face high unemployment, inflation, and soaring living costs, such thresholds risk excluding millions from the formal banking system.Banks are not just financial institutions—they are a bridge between citizens and economic growth. Raising minimum balance requirements, especially by a major private sector bank with very wide  reach, undermines the progress made towards financial inclusion and risks reviving “class banking.”

The prevailing trend across the sector is to remove these barriers, not raise them. ICICI Bank’s move deserves urgent reconsideration—in its own interest, and in the broader interest of equity, inclusion, and economic well-being.

T.V.Gopalakrishnan

( Copy of the Letter sent to ET but not found published.)  

India at 78 Technology Triumphs, Strengthen Inclusive Growth and take all people together.

   India at 78: Technology Triumphs,  Strengthen Inclusive Growth and take all people together

As India stands on the threshold of its 78th Independence Day, we celebrate not just our political freedom, but the resilience of our democracy—tested by wars, economic crises, natural calamities, and pandemics, yet always rising. A country of immense diversity—religious, linguistic, cultural, economic—India has remained united and forward-looking, thanks in large part to the enduring strength of its democratic institutions.

And yet, for all its promise and potential, India’s journey toward becoming a truly developed, inclusive and equitable nation needs intensified attention and focused employment oriented growth and fair distribution of wealth.  

A Digital Revolution Without an Economic Evolution

India’s phenomenal success in digitisation—be it the Aadhaar identity platform, the UPI payments ecosystem, GST networks, or Digital India initiatives—has been hailed as a global model. But the question we must now ask is: why has this digital transformation not translated into proportional economic prosperity for all?

Despite the sophistication of our digital infrastructure, we continue to witness:

• Rising inequality between the rich and the poor,

• Persisting unemployment and underemployment,

• Regional disparities in development,

• A significant informal economy evading the net of accountability,

• And institutions burdened with inefficiencies, leakages, and politicisation.

The answer is clear: technology alone cannot transform a nation unless it is anchored in enlightened governance, institutional integrity, and a unified national vision.

Time to Think, Rethink, and Reform

As we look to the milestone of 2047—our centenary of independence—the dream of becoming one of the most advanced economies and a beacon of global welfare must be built on more than just slogans and software. It requires structural, foundational reforms across the entire system of governance.

1. Legislative and Electoral Reforms

• Electoral cycles must be rationalised under the "One Nation, One Election" framework.

• We must demand performance audits of elected representatives—not merely in numbers, but in their contribution to national development, unity, and culture.

• Parties and leaders must be evaluated on vision, values, and verifiable outcomes.

2. Judiciary and Legal System

• Justice delayed is still justice denied. A tech-enabled, fast-track judiciary with real-time transparency and accountability must be prioritised.

• Legal reforms are essential to decongest courts and restore faith in the rule of law.

3. Executive and Administrative Overhaul

• Governance should blend human intelligence with machine learning and artificial intelligence to deliver efficient, timely public services.

• The bureaucracy must be reoriented toward outcome-driven performance, not process-driven rituals.

4. Economic and Institutional Reforms

• Professionalism must replace political patronage in public sector institutions.

• Agriculture, manufacturing, MSMEs, exports, and financial services must be revitalised through data-backed policy coherence.

• The independence of institutions like the RBI, CAG, and SEBI must be respected in both letter and spirit.

Bridging the Gap Between Competence and Achievement

India is not short of competent people or rich resources. What we lack is the ability to convert potential into performance. This calls for:

• Better resource allocation and monitoring,

• A crackdown on waste, inefficiency, and corruption,

• Strengthening of public delivery mechanisms, and

• Above all, an unwavering commitment to national interest above personal or party gain.

The Ethical Foundation: Dharma and Harmony

As the Upanishads remind us, “The pursuit of harmony rooted in wisdom and unwavering commitment to Dharma is indicative of enlightened leadership.” This ethos must guide our reforms—not just economic or technological, but spiritual and cultural. We must draw from our civilisational heritage to build a model of growth that is sustainable, inclusive, and ethical.

Conclusion: Time for Collective Introspection

The next 22 years are a golden opportunity. But without deep introspection and decisive action, we risk squandering India’s potential. It's time for academicians, administrators, politicians, policy thinkers, and citizens to come together—not in blame, but in common purpose.

Let us rise beyond electoral arithmetic and technocratic half-measures. Let us envision an India where digitisation empowers, governance delivers, and every citizen experiences the fruits of freedom.

May our collective dream be guided by the eternal prayer:
"Sarve Jana Sukhino Bhavantu" – May all beings be happy.

T V G Krishnan

( personal Views)

A senior Citizen .

Why Not Relate Retail Inflation to Affordability?

 Why Not Relate Retail Inflation to Affordability?

This refers to the news report “Retail inflation eases to 6-year low of 2.1% in June.” While this may seem like a welcome development for the RBI, Government of India, and sections of the public, especially those securely employed and economically well-positioned, it deserves a more nuanced analysis.

There’s no denying that the RBI’s calibrated monetary policy has started yielding visible results—reflected in declining inflation at wholesale, retail, and consumer levels. Achieving a retail inflation figure far below the RBI’s 4% CPI target is indeed a policy milestone. However, one must ask: does this headline number truly reflect the lived reality of the average citizen?

The reduction in food and consumer prices, while statistically significant, doesn’t necessarily translate into improved cost of living, lower production costs, reduced interest rates, or a broad-based rise in consumption demand. For these benefits to materialise and sustain, affordability across income segments needs to improve. Without parallel improvements in employment, income generation, and socio-economic infrastructure, reduced inflation may remain a largely academic achievement.

Moreover, the broader economic environment—marked by volatile international tariffs, inconsistent domestic taxation policies (notably irrational GST structures), and weak governance—continues to hinder the transmission of macroeconomic gains to the ground level. In such a setting, low inflation may not stimulate the desired uptick in investments, productivity, or employment generation.

A meaningful policy approach would involve correlating year-on-year inflation changes to income levels and affordability metrics, especially for the lower- and middle-income groups. This would help paint a more accurate picture of economic well-being and guide future interventions aimed at inclusive growth.

In particular, sectors like consumer durables and tourism, which have the potential to spur employment and demand, require that people not only have money to spend but also access to reliable infrastructure: safe and affordable transport, quality accommodation, and accountable public services. Without these, even low inflation cannot catalyze the economic vibrancy that India aspires to.

Ultimately, inflation must be viewed not in isolation, but in relation to people’s purchasing power and quality of life. Only then can economic growth be both sustainable and equitable.

Sarve Jana Sukhino Bhavanthu.

T V G Krishnan .

(Personal Views)