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)

The Growing Innovation of Fraudsters and the Need for Vigilant Awareness

 July 8, 2025, at 9:35 AM

While on my morning walk today, I received a call from an unknown number. The caller identified himself as a representative from the “Cyber Protection of India,” supposedly based in New Delhi. He began by confirming my mobile number, which I acknowledged, but I do not recall confirming my name.

The caller then alarmed me by stating that my phone number was allegedly involved in some form of cyber violation and that his call was merely a follow-up investigation. As a senior citizen in my late 70s, who has always held strong values of honesty, ethics, and compliance with all laws, I was shocked and disturbed by this unexpected accusation.

However, within moments, I recognized the deceptive tone and realized I might be speaking with a fraudster. To extricate myself from the situation safely and avoid being drawn further into what appeared to be a potential digital fraud, I calmly responded, saying that I too was affiliated with the department and would like the full details of the supposed violations sent via SMS for further scrutiny. At that point, the caller abruptly disconnected.

Reflections and Concerns:

Digital fraud is alarmingly on the rise. Every day we read stories of innocent citizens—particularly elders—being manipulated through fear tactics, false claims of authority, or even threats of arrest. It leads to an important question:
How are such fraudsters gaining access to phone connections and bank accounts despite the strict KYC (Know Your Customer) norms enforced in India?

While authorities claim that KYC protocols are diligently followed, these incidents suggest that fraudulent elements continue to find ways to exploit loopholes—whether through forged documents, mule accounts, or exploiting digital vulnerabilities.

What Needs to Change:

• Community Awareness: There needs to be a robust, nationwide campaign to educate citizens—especially senior citizens—about common fraud tactics and how to respond.

• Easy & Anonymous Reporting: Citizens should be encouraged and empowered to report suspicious calls quickly and easily, without fear or complex procedures.

• Data Sharing & Intelligence: A more integrated platform should exist where public tips and inputs are used by law enforcement agencies to build fraud databases and track patterns.

• Stronger Penalties and Surveillance: Telecom and banking regulatory bodies must work closely with cybercrime departments to proactively monitor and crack down on entities issuing SIM cards and opening accounts under false identities.

India has a rich tradition of trust, community support, and respect for the law. If 99.9% of the population wants to live righteously, then this vast majority can become a powerful ally to the authorities—if given the tools, platforms, and encouragement.

“Readiness is all.” We must stay prepared, informed, and united to fight the innovation of fraud with the innovation of vigilance.

Loka Samastha Sukhino Bhavanthu.
(May all beings everywhere be happy and free.)

T V G Krishnan

( Personal Views).

Why not bring in some workable reforms, make life comfortable and happy and realise the dream of Advanced economy by 2047.

 The article only highlights  the lack of administration and accountability across both public and private sectors, particularly in customer service. Despite strong marketing efforts and growing economic ambitions, consumers — the foundation of the economy — are being neglected. The digitisation of services has removed meaningful human interaction, eroding trust and confidence in institutions.

Banks focus more on mobilising deposits than serving depositors, who stick with them mainly due to safety and government backing, not service quality. Insurance companies, especially through third-party agents, are singled out for poor service, mechanical claim processing, and a lack of common sense or fairness. Automated responses have replaced real service, worsening the customer experience. The understanding of Banking in general and KYC in particular is unfortunately missing at all institutions and all levels of hierarchy. 

Fraud is rampant in consumer services, with duplicate agents posing as genuine ones, especially in appliance servicing. The erosion of trust spans the entire ecosystem — government, private, and public sectors alike. The piece calls for urgent reforms in governance, transparent accountability, and responsive customer service to ensure a better quality of life and support the dream of becoming a developed economy by 2047.

Loka Samastha Sukhino Bhavanthu.

T V G Krishnan

(Personal Views )

Is it not tiime to reduce the Cash Payment, improve tax compliance and Digitalise the economy ?

 Apropos  the editorial Long Live Cash! Even as cashless is in (ET 26/6/25 )the surge in digitalisation and the promise of robust economic growth have paradoxically been accompanied by an increase in cash demand—a scenario that seems contradictory, yet also indicative of a certain optimism in the Indian economy. Despite rapid strides in digital payments, the behavioural preference for cash remains deeply entrenched. Traditional factors such as the prevalence of black money, corruption, high inflation, and inconsistent cash supply through ATMs continue to reinforce this tendency. For many, cash remains not just a medium of transaction, but a symbol of financial control and certainty in uncertain times.Moreover, the increasing demand for real estate, gold, and other high-value commodities reflects widening inequality, but perhaps also hints at a deeper shift: the growing confidence in the Indian rupee. The rupee’s use in international transactions, in place of the dollar in some contexts, may be a subtle but significant development in India's economic story.

While digitalisation has indeed grown multifold—a welcome and necessary change—it has not yet delivered fully on some of its key promises. Better tax compliance, reduced use of hard currency, and a shift in behavioural motivations for cash use remain elusive goals. These realities call for deeper introspection.In essence, the co-existence of rising digital adoption and continued cash demand is not merely a contradiction—it’s a reflection of India’s complex and evolving economic fabric. Both cash and digital must continue to co-exist until systemic trust, inclusion, and behavioural shifts align more decisively.

T.V.Gopalakrishnan

 

Educate, Convince, and Inspire Citizens to Obey Laws and Realize Their Dreams

“It is not wise to violate rules until you know how to observe them.”
— T. S. Eliot

India, with its vast population and enormous geographical diversity, faces serious challenges in public discipline, civic behaviour, and infrastructure. Yet, despite these constraints, the quality of life in our country can be vastly improved—if both the administration and the public take collective responsibility to bring about change in everyday practices.

Countries known for high living standards tend to have efficient governance, a strong legal system, and a culture of civic responsibility. India must move in that direction—not by importing models, but by nurturing discipline and respect for the rule of law from within. Below are some actionable pathways for progress:

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1. Queue Culture: A Basic yet Powerful Civic Habit

Standing in queues at bus stands, railway stations, hospitals, temples, and malls should be part of our national behavior. From childhood to old age, the habit of waiting one's turn should be encouraged, with reasonable exceptions made for the sick, the differently-abled, and senior citizens above 80.

Discipline begins with such simple, everyday practices—and the benefits ripple across society.

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2. End the VIP Culture: Everyone Is a Citizen First

The mindset of entitlement and special privilege—particularly at public places like airports, temples, and government facilities—must be discouraged. Facilities built with taxpayers' money should prioritize the public. VIPs, celebrities, and officials should demonstrate humility, not superiority. Priority access should be given only in exceptional, justified circumstances.

Removing the VIP mentality sends a strong message: in a democracy, all are equal before the law and in public spaces.

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3. Respect Traffic Rules: Roads Are for Everyone

The regular violation of traffic rules—especially by those in authority or with influence—reflects poorly on our society’s civic sense. Queue jumping, signal breaking, and reckless driving waste time, create chaos, and often endanger lives.

Strict enforcement of traffic laws, equal treatment under those laws, and public accountability are essential for restoring order and efficiency in our cities.

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4. Roads and Footpaths: A Mirror of Governance

Broken roads, potholes, illegal parking, and garbage-strewn streets show the cracks in our civic management. While natural wear and tear is expected, the lack of proper planning, poor materials, corruption, and inadequate oversight exacerbate the problem.

Improved planning, quality control, regular inspections, and empowered citizens (through mechanisms like social audits) can restore dignity to our public spaces.

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5. Legal Literacy: Know the Law, Respect the Law

Just as financial literacy has empowered millions to save, invest, and secure their futures, legal literacy must become a national mission. Citizens must understand the Constitution, the basics of governance, and the purpose behind laws. Knowing how laws protect rights and ensure justice can motivate people to follow them—not out of fear, but out of understanding.

The Legislature, Judiciary, and Executive must collaborate to simplify and disseminate this knowledge—especially to the youth and in rural areas. There is a real pleasure and Joy in understanding the laws of the land and obeying the laws as a matter of habit and culture in day to day life by all will pave the way not only for  a very healthy economic progress but also for all round welfare and dignified  living. 

If every institution—be it in the government or private sector, corporate or cooperative sector—and every professional and citizen across all walks of life were to develop a deep awareness of the laws of the land and commit to observing them in both letter and spirit, the socio-economic progress our country could achieve would be truly phenomenal.

Such a transformation would not only foster a culture of accountability, transparency, and fairness, but also significantly reduce the burden on our judicial system. The age-old adage "justice delayed is justice denied" would become a relic of the past, as legal compliance and ethical conduct would naturally diminish the volume of litigation. The chronic backlog of cases pending for decades in various courts could finally become history, making way for a society rooted in trust, equity, and rapid progress. 

A Call to Conscience

True democracy is not just about voting once in five years. It is about daily participation—through small actions, civic awareness, and respect for others' rights. If people become more law-abiding, the scope for corruption, black money, inefficiency, and injustice will drastically shrink.

Let us build an India where people not only dream but also live their dreams in peace, order, and dignity.

“True administration of justice is the firmest pillar of good Government. There is a higher court than the courts of justice, and that is the court of conscience.”
— Mahatma Gandhi

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T V G Krishnan
(Views are personal)

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 )

Educate and employ people to lead a dignified Life

 

Dear Sir,

                     Educate and employ people to lead a dignified life 

 

  Apropos the article on Decoding India's Conundrum of free food despite falling poverty ( Sunday Times 20th April), the fact remains that elections are  unfortunately fought on the grant / promise of  freebies even after 75 years of independence exploiting, the illiteracy, poverty and absence of thinking capacity of the people and reacting to the failure of the Establishments' economic policies in improving the lots of the  deserving poor people. Neither the data nor the distribution of freebies to the really needy are reliable as the corrupt practices to win elections , be in power and make money at  nation's and taxpayers' cost have unfortunately taken away the ethics and code of democratic values , administrative principles and fair and justifiable judiciary system. The fall in poverty does not keep people from seeking freebies is a misfortune and this needs to be administratively and culturally fought. This needs meaningful Governance, fair distribution of wealth, and demonstrable punishment to those who indulge in all kinds of corruption and malpractices.  

"Loka Samastha Sukhino Bhavanthu. Let noble thoughts and actions come everywhere." 

TVG Krishnan

RBI approach to Monetary policy Be Vigilant and Accommodative.

                     RBI approach to Monetary policy be  Vigilant and Accommodative.

This refers to the monetary policy announced by RBI on the 9th April 2025 in the midst of growing turmoil in the global economy thanks to the jittery and chaos generated by the uncertainties by Mr Trump and his Tariff measures to make America Great Again.  Understanding  the sudden changes seen in global economic conditions and having adverse impact on the  imported inflation front, supply and demand conditions in global trade, and change of position of dollars and Gold as Reserves of world central banks, the RBI has announced its bold monetary policy by changing its stance from Neutral to Accommodative and reduced the repo rate for the second time by 0.25  percent to 6.50%  and expect the MSF and SDF  adjust to 6.75% and 5.75% respectively. However, the GDP growth has been brought down from 6.70% to 6.50% . Though the inflation is stated to be benign as of now and is expected to be under control and within the 4% target , the fact remains that food inflation expectation continues to be a threat and the cost of funds continues to rule high . The widening inequality between the haves and have nots, the irrational rates of GST along with other taxes and levies though expected to soften thanks to the  direct tax reliefs given in the recent budget 2025 26, the cost of goods and services continues to remain very high due to freebies and mis / poor governance and the expectation of high savings, which is unreal. High consumption demands, and increased growth in employment, investment and production seem to be chasing a mirage and for this to be a reality, there is a paramount need to fine tune the fiscal policy with the Monetary policy closely monitored by data collection and effective and meaningful governance. 

      

T V Gopalakrishnan.

 

( This letter sent to Economic Times not published ).

Relate and apply the Great values and Principles of Sanatana Dharma in whatever we do to take the nation forward.

  Relate and apply the Great values and Principles of Sanatana Dharma In  whatever we do to  take the nation forward.Success is sure,  certain and sustainable to enjoy the fruits for all. 

       Let Noble Thoughts and Actions Come from Everyone and Everywhere. 

The PEST (POLITICS, ECONOMICS, SOCIAL ,TECHNOLOGICAL) Control approach seen in vogue now  needs wholesale change and Step by Step movement with a very close and careful monitoring  of every STEP ensuring positive achievement in all areas of man’s progress and accountability to the conscience of 140 and above crores of population. The democracy designed and managed by  Politics, Economics , Social Reforms and Technological advancements keeping in view the welfare of the masses en masse and all living beings and healthy and conducive  environment, universally need to be reviewed and evaluated based on parameters specifically identified . The economic progress,  distribution of wealth and spread of happiness based on health, peace , contentment and environmental conduciveness helping to sustain the well being for all living beings should be the destination of the administration of democracy.     

No doubt democratic path  is an ideal one worth strengthening keeping the faith of all faiths intact and in enviable harmony. The multi religious, multi linguistic, multi culture naturally leaves multitasks to the authorities to achieve the single objective of welfare for all itself is an herculean task with multiplicity of challenges amidst acute poverty, illiteracy, high inflation. laxity in infrastructure, widening gap in the inequality levels in the distribution of wealth generated etc. These limitations  in fact are to be taken as the best of opportunities to reform and perform.        

The democratic system runs with the active support of three main pillars Viz  Legislative, Judiciary and Executive complementing and supporting each other need to be within the broad contours of our highly respected and regarded as the last word in the philosophy of Life i.e. Sanatan Dharma. All the three should be above suspicion and their integrity , commitment, and earnestness to provide welfare, justice, equity and  equality for the humanity as a whole irrespective of language, race, religion or any other sentiments should be foolproof and acceptable to all without any reservations.      

Politics and politicians devoted to national developments cannot be outside the principles of Sanatan  Dharma. Love the nation first and love the living beings, their culture, ancient civilisation and understand the heart and soul of every one,  the county and the entire universe.Get fully convinced that Sanatan Dharma is the code of conduct to be pursued by one and all and all Associated with national development and warfare of all living beings in the entire universe.  

 To quote from “Light of Truth Page 305”(Swami Dayananda Saraswati)

 

“ Those endowed with Sattva attain to the state of the learned, godly men. Those who are possessed of Rajas, become men, while those immersed in Tamas fall into the conditions of lower orders.”   

Manu describes

 

“The possession of true ideas by the soul is declared to be an Indication of Sattva. Ignorance betokens Tamas . Passion of love and hatred signifies Rajas. These three attributes i.e. Sattva, Rajas, and Tamas of the Prakriti are to be found in all things.”

“When a man feels that there is tranquility, peacefulness, and contentment in his mind, and also also his soul is pure as the purest light, let him know then that Sattva predominates; whilst the Rajas and Tamas occupy a subordinate position. “ 

“ When the soul is unhappy, has no peace of mind, is restlessly engaged in the pursuit  of sensual objects, let him  then know  that it is the Rajas that predominates , whilst the Sattva and Tamas are suppressed. “

(page 303 Chap IX) .

Is it not Ok to understand the above essence of Life values and attempt to bring reforms in our day to day Administration and enhance the quality of Life for all Living beings and our environments?

The three main pillars of Democracy Viz Legislative, Judiciary and Executive which bring strength, vigour and dynamism need to  adhere to the principles of Sanatan Dharma in letter and spirit so that the performance and achievements fulfil and satisfy the aspirations of the 140 crores of people without leaving any room for grievances and complaints. Corruption and corrupt practices if minimised or avoided fully in terms of the  code of conduct spelt in Sanatan Dharma can pave the way to put the economy on the right track of growth with equitable distribution of wealth and achieving  equality of social justice to all.Reform the educational and administrative system in such a way that the values highlighted in the Sanatan Dharma become part and parcel of our day to day life and culture. If there is a will there is always a way to achieve whatever we want. 

"Let the Pillars Of Sanatana Dharma form the bedrock of a Prayerful, meaningful existence,, with the awareness of divine interconnectedness of absolutely everything in nature so that we speak our words carefully, use our resources judiciously, to help ourselves and others be grateful for the infinite blessings in our life."

  Bhagavat Gita

Loka Samastha Sukhino Bhavanthu. 

T V G Krishnan

(Personal Views)

Make the Democratic values ideal and memorable. Remove all Freebies.

 Kill the Culture of Freebies , enhance the dignity and quality of Life . Make the democratic Values ideal and memorable. 

Apropos your your editorial How to get broke by freebie-ing Away (March 12), It is time to seriously introspect and consider taking some concrete and sensible steps by all  matured political parties , the bureaucrats, the judiciary and the sensitive organisations like RBI, banks and supply chains involved directly or indirectly in the distribution of freebies at the cost of fiscal discipline and electoral values.  Having adopted democratic values and principles, is it not time  to arrest once for all the freebies culture and save the democracy and the economy from catastrophe. No doubt, this freebie culture not only kills the initiative and work culture but also kills the economy, the enthusiasm of the people and spreads wrong tendencies and attitudes taking away the very charm of hard work, enjoying the rewards for hard work, nurturing all unhealthy and corrupt practices in the very democratisation of election and election processes, thereby distancing many  who are earnest , honest  and committed to be behind the democratic way of taking the nation fast forward, thereby increasing the percentage of absentee voters and voting for none among the contestants.  To make the nation democratically, politically strong, the economy fast growing with all its tremendous potential, socially vibrant and enlightened, technologically a leader of the world, the electoral reforms and election processes need a thorough change without any scope and hope for freebies and their bad effects .           

Loka Samastha Sukhino Bhavanthu. 

T V G Krishnan 

( This letter sent to ET not published.).

 

Lapses in regulation and Supervision erode Trust.

Happy to observe that the author has been tirelessly and vigorously pursuing and fighting as a watchdog to secure the financial system in general and the banking system in particular in public interest to safeguard the stakeholders heavy stake in them as depositors and otherwise . Failures in banks and frauds in banks unfortunately continue to be a regular feature and the stake holders of the economy bear the brunt and depositors of the banks bear the maximum . The coverage of loss of deposits of Rs 5 lakhs by DICGC is a pittance by any reckoning and this cannot be even treated as a relief and safety standard for banks to maintain themselves financially stable and sound . The need for strong regulation and very effective and meaningful supervision independent of political interference in banks particularly cooperative banks is urgent and paramount and the TRUST in Banks and RBI’s supremacy in Regulation and Supervision needs to be reiterated and well established to make the Financial system very strong and supportive to develop the economy fast as envisaged

Loka Samastha Sukhino Bhavanthu.

(This comment is Published in Money Life in response to the Article on New India Coop Bank Ltd Fraud  Feb 28.2025)  

Why Not Family Businesses form Partnerships with other Businesses

 Dear Sir,

Why not  Family businesses form  partnerships  with other Businesses ?

Apropos your editorial , Fresh, New Species of Animal Spirits,(ET 22nd Feb), the need of the hour is definitely to kickstart the economy with all possible Animal  Spirit not only from  existing Family businesses but also developing new families into businesses through encouraging Private Equities  and Start ups by highly skilled professionals from in and around the world. The potential of the economy is so strong and vast , but unfortunately, the animal spirit required to exploit the resources and encash  them through intensive capital and labour oriented physical production of goods and services by enhancing manufacturing activities apart from providing services to satisfy the global demands of all goods and services  keeping the dream of making the economy an advanced one by 2047 is found missing and elusive. It is time for Indian family businesses to identify areas to partner with other entrepreneurial talents and scattered equities  around the world and exploit  fresh business opportunities and give a boost to the economic growth envisaged and make the dream of an advanced economy by 2047 a reality. Opportunities for such joint ventures are plenty and need to be fully encashed benefiting the entire economy and the nation. 

Let there be prosperity all around the universe to make life comfortable and enjoyable for all.         

T V G Krishnan. 

Bengaluru .

( Letter sent to ET but not published. )

ENHANCE THE STATUS OF GST AS THE MOST ACCEPTABLE TAX.

 .GST collections show economy on the mend (ET 2/3/25).

Instead of developing the GST as a goods and services tax to augment the resources of the Government in an irritating manner, is it not better to enhance the status of GST as the most innovative, wonder, equitable and justifiable tax of the Nation enjoying its acceptance and 100 percent compliance . As the honourable PM commented, make it GOOD and SIMPLE TAX literally. The need to  augment revenues for all round development of the economy and welfare of the masses is understandable by all interested in the rapid progress of the nation and THE PEOPLE SEEM TO BE  mentally and emotionally prepared to cooperate and fully comply with the authorities and their requirements.  Making it complicated and discouraging through high rates  without bringing in any value addition in terms of bringing down the widening inequality, simplifying the very and various types of tax structures etc brings only anti climax to the tax system. Simply aiming at  augmenting revenue through all possible ways including GST has a cascading effect on inflation, cost of production , cost of living , ease of doing business and demotivating all interested in the business , economy , nation, politics  and democracy, both Central and State Governments . Earlier this truth is realised and acted upon sensibly and wisely, the better for the Govt , the people , the economy and the nation . The need is, reducing the number of taxes, augmenting Government's revenue, freeing  the Government from the burden of freebies, making 140 crore people as contributors to nation building by happily participating , cooperating and complying with tax requirements and taking the nation forward through  all round economic progress by optimally utilising all the resources at our command . After all , the need is to have a comfortable, peaceful, safe and  happy life enjoying the blessings of nature and  benefiting from the prudential use of the natural  and human resources. Tax cannot and should not act as a burden but should definitely serve as an agent of dependable source of support to ensure the well being of  all living beings.          

Replace all other taxes by reforming the GST and reduce inequality gradually and systematically. Less the number of taxes, more the acceptance and better compliance .  

 

THE WHOLE NATION IS VERY KEEN TO WATCH THE ECONOMY PROGRESS FAST AND REALISE THE DREAM OF REACHING ADVANCED STATUS BY 2047 AND FOR THIS WHAT IS NEEDED IS SIMPLE , AFFORDABLE , FULLY CONFORMABLE AND HAPPILY ACCEPTABLE TAX STRUCTURE BY ALL SEGMENTS OF THE PEOPLE AND BUSINESSES. GST CAN EMERGE AS A WONDER TAX AND BE THE MOST INNOVATIVE INVENTION OF THE NATION AND THE PEOPLE OF INDIA. 

 

LOKA SAMASTHA SUKHINO BHAVANTHU. 

T V G KRISHNAN

14/2/25.