(Published in Banking Services Chronicle March 2009)
Wealth can be generated at a rapid pace even through ethical means. This was a faith instilled in the Indian mind by the meteoric rise of the information technology (IT) sector. Narayanmurthy and his ilk became the guiding stars in the firmament of wealth creation. Brilliant minds were engaged in scoring music for the software symphonies. It seemed next only to heavenly bliss.
Until the fraud at Satyam shattered our faith in innocence. Though IT angels are bright still, one of the brightest fell. B Ramalinga Raju, the founder of Satyam Computer Services, was no more the gentleman he was supposed to be. There was some saving grace in the fact that at least he confessed to the fraud he committed. But even the confession now seems to be a thread in the web of lies Satyam has weaved for itself.
Whether it was the fudging of balance sheets, as he made it out to be, or a blatant pilfering of the company’s money, the bottom line is that faith in Indian business has been shaken. People would become cautious especially of family-run businesses so that there is no repeat of siphoning off of funds to pure family entities like Maytas Properties and Maytas Infra.
We are forced to ask if corporate governance has any maturity worthy of turning ourselves into a developed country. The so-called independent directors have made a mockery of themselves. If professionalism can reach its nadir in the fourth largest IT company of India, one wonders what happens at ordinary mortal companies.
The auditors have also come under scrutiny. The Satyam scam is being branded as India’s Enron. If the fraud at the American energy company led to the demise of Arthur Andersen, the current crisis has raised questions on the integrity of Price Waterhouse, the Indian arm of giant auditor PricewaterhouseCoopers.
It is not enough that conman Raju languishes in Chanchalguda jail of Hyderabad. Foolproof measures need to be implemented to cleanse the system as a whole. But above all, we need to take a lesson in ethics. Only then can our success dream of enjoying some kind of permanence.
Showing posts with label Think a While. Show all posts
Showing posts with label Think a While. Show all posts
Monday, 2 February 2009
Tuesday, 6 January 2009
High time Pakistan acted
(Published in Banking Services Chronicle February 2009)
It is evident that no amount of evidence will suffice for Pakistan to agree that it is sponsoring terrorism, whether by omission or commission. The knee-jerk reaction of any wrongdoer is to deny that the wrong act has been perpetrated. In case that is not possible at all, as in the case of 26/11, the next best thing is to distance oneself from the act.
Pakistan may have “doubts” whether the persons involved in the act were from there. But the world this time is not ready to give a sympathetic hearing to it. This in spite of our neighbour’s best attempt to blow things out of proportion. If our external affairs minister Pranab Mukherjee makes any strong statement, it begins to cry “escalation” wolf.
Our neighbour should rest assured that bombing Pakistan would be the last thing India would resort to. They are no Gaza and we are no Israel. And targeted bombing, if people suggest that, is not easy as the world learnt when the US attacked rogue nations. Besides, India seems to be in no hurry as we are yet to impose even sanctions.
India would continue, it appears, to put its diplomatic foot forward, reminding the world how the “epicentre of terrorism” is a global threat. There would be more of talks and less of action. Somewhere in our Gandhian unconscious, we still think non-violence is the best means to tackle terrorism.
But any soft stance from India should not make Pakistan complacent. At some point of time it has to make a strong decision. The “failed state” status it has obtained has been bred by its confused stance. The country has allowed both state and non-state actors to kick it as a football.
The leaders – both civilian and military – in our neighbouring country need to rise to the occasion. They must rescue their own country from falling into the abyss of despair. They need to guide their citizens to make their country a better place to live in. Needless to say, the effort would make India and the world all the happier.
It is evident that no amount of evidence will suffice for Pakistan to agree that it is sponsoring terrorism, whether by omission or commission. The knee-jerk reaction of any wrongdoer is to deny that the wrong act has been perpetrated. In case that is not possible at all, as in the case of 26/11, the next best thing is to distance oneself from the act.
Pakistan may have “doubts” whether the persons involved in the act were from there. But the world this time is not ready to give a sympathetic hearing to it. This in spite of our neighbour’s best attempt to blow things out of proportion. If our external affairs minister Pranab Mukherjee makes any strong statement, it begins to cry “escalation” wolf.
Our neighbour should rest assured that bombing Pakistan would be the last thing India would resort to. They are no Gaza and we are no Israel. And targeted bombing, if people suggest that, is not easy as the world learnt when the US attacked rogue nations. Besides, India seems to be in no hurry as we are yet to impose even sanctions.
India would continue, it appears, to put its diplomatic foot forward, reminding the world how the “epicentre of terrorism” is a global threat. There would be more of talks and less of action. Somewhere in our Gandhian unconscious, we still think non-violence is the best means to tackle terrorism.
But any soft stance from India should not make Pakistan complacent. At some point of time it has to make a strong decision. The “failed state” status it has obtained has been bred by its confused stance. The country has allowed both state and non-state actors to kick it as a football.
The leaders – both civilian and military – in our neighbouring country need to rise to the occasion. They must rescue their own country from falling into the abyss of despair. They need to guide their citizens to make their country a better place to live in. Needless to say, the effort would make India and the world all the happier.
Thursday, 11 December 2008
26/11
(Published in Banking Services Chronicle January 2009)
Dear reader,
Wish you a happy New Year! But even as we wish you happiness, it is difficult to forget the sad past we have witnessed in recent times. First, it was the global financial meltdown symbolised by the collapse of Lehman brothers. But I don’t consider that to be too big a crisis. As long as one is alive and in good health, one can strive to overcome poverty.
What I am concerned much deeper about is the second and far graver crisis. 26/11. When terrorism brought us to our knees. It seemed to be the culmination of the bomb blasts carried out across the country so frequently that one forgets the statistical trivia — how many cities, how many blasts, how many lives lost?
It is truly alarming when the number of lives lost becomes for us a part of the statistical trivia. And it leads me to two conclusions — we are either a callous society or an effete one. Callousness is on the rise with our material pursuits often overriding emotional and spiritual ones. But it has not gone to the extent that our quest for a northward GDP and per capita income has detached us from our near and dear ones. We still love them and care for them. Moreover, even a callous, purely money-minded person would love oneself at least. Terrorism threatens even this love.
Which means we are an effete society deservingly represented by an effete government. We are fond of celebrating secularism but unwilling to labour for its maintenance. We are good at gathering intelligence but poor at disseminating it and poorer at acting on it promptly. We have lost the power of non-violence and we are yet to acquire the power of the strong arm.
This is a wake-up call for us. We have to fight the enemy whether it is within the country or without. And we must be prepared for all kinds of warfare — military, psychological, economic or educational. A bunch of misguided people should not be allowed to hold the world to ransom.
Whichever path we choose, act we must. Heed to the alarm. Don’t press the snooze off and sleep until another attack wakes us up.
Dear reader,
Wish you a happy New Year! But even as we wish you happiness, it is difficult to forget the sad past we have witnessed in recent times. First, it was the global financial meltdown symbolised by the collapse of Lehman brothers. But I don’t consider that to be too big a crisis. As long as one is alive and in good health, one can strive to overcome poverty.
What I am concerned much deeper about is the second and far graver crisis. 26/11. When terrorism brought us to our knees. It seemed to be the culmination of the bomb blasts carried out across the country so frequently that one forgets the statistical trivia — how many cities, how many blasts, how many lives lost?
It is truly alarming when the number of lives lost becomes for us a part of the statistical trivia. And it leads me to two conclusions — we are either a callous society or an effete one. Callousness is on the rise with our material pursuits often overriding emotional and spiritual ones. But it has not gone to the extent that our quest for a northward GDP and per capita income has detached us from our near and dear ones. We still love them and care for them. Moreover, even a callous, purely money-minded person would love oneself at least. Terrorism threatens even this love.
Which means we are an effete society deservingly represented by an effete government. We are fond of celebrating secularism but unwilling to labour for its maintenance. We are good at gathering intelligence but poor at disseminating it and poorer at acting on it promptly. We have lost the power of non-violence and we are yet to acquire the power of the strong arm.
This is a wake-up call for us. We have to fight the enemy whether it is within the country or without. And we must be prepared for all kinds of warfare — military, psychological, economic or educational. A bunch of misguided people should not be allowed to hold the world to ransom.
Whichever path we choose, act we must. Heed to the alarm. Don’t press the snooze off and sleep until another attack wakes us up.
Predicting Stock Market
(Published in Banking Services Chronicle December 2008)
We are in an age when every Tom, Dick and Harry talks about the stock market and the Sensex. “How much is the Sensex at?” has become a question as ubiquitous as “What’s the score?” asked when India plays cricket. There are opinions and even convictions on how the share market will perform in the days to come.
But the men who really matter don’t seen to have a clue. Our economist-Prime Minister confesses he does not understand how the share markets behave. Our finance minister too takes recourse in highlighting the fact as to how strong India is on its economic fundamentals. The ship of the Indian economy is more or less on an even keel. It may at worst lurch but it won’t sink.
Who then knows about the stock market? It is a question perhaps as difficult to answer as the one about God’s existence. In the Indian tradition sages say that those who tell about God don’t really know about Him; those who know don’t tell. The share market knowledge too has parallels to the Divine conundrum.
Predicting the Sensex is much like astrological predictions. Charlatans abound in this realm. As one prediction after another is shattered when confronted with reality, people have started losing faith in the stock market pundits. Some say astronomy is a science; astrology is not.
Similarly, studying the economy is a science. Predicting it is not. Predicting the stock market is especially not.
In such a scenario it is very difficult to say who will salvage the world from the economic crisis. It is also difficult to say who will spark hope at the end of the tunnel seeing which the stock markets may surge. Whether it is Republican McCain or Democrat Obama, both will find the going equally tough.
It appears only time will heal a sick global economy. Depression is a virus that goes away if the economy takes care of its health. But the virus doesn’t get out in a day.
We are in an age when every Tom, Dick and Harry talks about the stock market and the Sensex. “How much is the Sensex at?” has become a question as ubiquitous as “What’s the score?” asked when India plays cricket. There are opinions and even convictions on how the share market will perform in the days to come.
But the men who really matter don’t seen to have a clue. Our economist-Prime Minister confesses he does not understand how the share markets behave. Our finance minister too takes recourse in highlighting the fact as to how strong India is on its economic fundamentals. The ship of the Indian economy is more or less on an even keel. It may at worst lurch but it won’t sink.
Who then knows about the stock market? It is a question perhaps as difficult to answer as the one about God’s existence. In the Indian tradition sages say that those who tell about God don’t really know about Him; those who know don’t tell. The share market knowledge too has parallels to the Divine conundrum.
Predicting the Sensex is much like astrological predictions. Charlatans abound in this realm. As one prediction after another is shattered when confronted with reality, people have started losing faith in the stock market pundits. Some say astronomy is a science; astrology is not.
Similarly, studying the economy is a science. Predicting it is not. Predicting the stock market is especially not.
In such a scenario it is very difficult to say who will salvage the world from the economic crisis. It is also difficult to say who will spark hope at the end of the tunnel seeing which the stock markets may surge. Whether it is Republican McCain or Democrat Obama, both will find the going equally tough.
It appears only time will heal a sick global economy. Depression is a virus that goes away if the economy takes care of its health. But the virus doesn’t get out in a day.
Sub-Prime Crisis
(Published in Banking Services Chronicle November 2008)
The sub-prime crisis in the US – a crisis created by risky debts turning bad – had already started making its presence felt in India from January. Markets went down as foreign institutional investors (FIIs) pulled out money from the capital market. But there was some light at the end of the tunnel. Today, with the collapse of Lehman Brothers and the ensuing financial turmoil across the world, the world seems to be groping in the dark.
How did all this happen? It is a clear case of greed overpowering discreetness among the financial engineers. Since banks in the US were flush with liquidity, they looked for avenues where the surplus could be employed. Real estate was a booming sector. So banks started offering loans to anyone and everyone without being too concerned about their credentials – a category that came to be known as “sub-prime borrowers”. Since the loans were considered riskier, a higher rate of interest was charged.
The story of greed might not have been so tragic if things had stopped ihere. In their pursuit of making more money, the mortgages of land and house were packaged as portfolios and sold further. Even the role of credit agencies like Moody’s and Standard & Poor is suspect in that they rated the derivatives thus obtained as not too risky. The game went further. There were Credit Default Swaps which hedged the risks of some but multiplied those of others.
Thus there was a chain of investment built on the same underlying assets, viz real estate. But excess of anything is bad. The real estate sector busted. And the sub-prime borrowers, in keeping with the rationale of their nomenclature, began to default on their loans. And the ball of financial performance was set rolling downward, much like the stone in the Sisyphean myth, but with far more negative consequences.
When the Titanics of the financial world start sinking, it is but natural that the mood across the world is sombre. Some believe that this is the worst phase for the world economy since the Great Depression of 1929.
Should we therefore mourn? Remember it is the darkest before dawn. The financial world will show resilience though it may take about a year for broad daylight to come back.
The sub-prime crisis in the US – a crisis created by risky debts turning bad – had already started making its presence felt in India from January. Markets went down as foreign institutional investors (FIIs) pulled out money from the capital market. But there was some light at the end of the tunnel. Today, with the collapse of Lehman Brothers and the ensuing financial turmoil across the world, the world seems to be groping in the dark.
How did all this happen? It is a clear case of greed overpowering discreetness among the financial engineers. Since banks in the US were flush with liquidity, they looked for avenues where the surplus could be employed. Real estate was a booming sector. So banks started offering loans to anyone and everyone without being too concerned about their credentials – a category that came to be known as “sub-prime borrowers”. Since the loans were considered riskier, a higher rate of interest was charged.
The story of greed might not have been so tragic if things had stopped ihere. In their pursuit of making more money, the mortgages of land and house were packaged as portfolios and sold further. Even the role of credit agencies like Moody’s and Standard & Poor is suspect in that they rated the derivatives thus obtained as not too risky. The game went further. There were Credit Default Swaps which hedged the risks of some but multiplied those of others.
Thus there was a chain of investment built on the same underlying assets, viz real estate. But excess of anything is bad. The real estate sector busted. And the sub-prime borrowers, in keeping with the rationale of their nomenclature, began to default on their loans. And the ball of financial performance was set rolling downward, much like the stone in the Sisyphean myth, but with far more negative consequences.
When the Titanics of the financial world start sinking, it is but natural that the mood across the world is sombre. Some believe that this is the worst phase for the world economy since the Great Depression of 1929.
Should we therefore mourn? Remember it is the darkest before dawn. The financial world will show resilience though it may take about a year for broad daylight to come back.
Sorrow of Bihar
(Published in Banking Services Chronicle October 2008)
In our childhood the textbooks taught us that the river Kosi was the “sorrow of Bihar”. Our textbooks have a bad reputation for being outdated or irrelevant. It was somewhat in this light that we took the epithet given to Kosi. It was only as much real for us as Hwang-Ho being the “sorrow of China.”
But this August millions of people in north-eastern Bihar witnessed a doomsday scenario first hand. We were jolted out of our stupor and made to realise how near-extinct facts given in our textbooks can come alive anytime. The Kosi flood, approriately declared a “national calamity”, is probably the worst recorded in the history of modern India.
The media, though somewhat late, acquainted the nation with the veritable seas formed on land. Supaul, Madhepura, Araria and Purnia have become household names. We were shown how destruction is only a matter of days in vast swathes of land. We saw how technology is still in its infancy when it comes to tackling the might of nature. We witnessed how the goons and the greedy valued money over lives. There was also the tragi-comic element of politicians scoring brownie points in this hour of peril.
The water may have started receding and the land even dried by the time you read this. But the months to come will be a challenge for the Nitish Kumar government, whose good deeds have been literally washed away by the floods. Providing refuge to the deprived millions is not an easy job. Controlling epidemics that may break out in the aftermath of the flood will not be easy either.
That is for the short term. In the long term, there are several pressing questions on which all of us must ponder. One, is the course changed by the river going to remain so in the years or decades to come? Two, do we have embankments enough to check the rivers from becoming a curse? Three, is it enough to build embankments without caring for maintenance? Four, do we need to control rivers or manage them? And finally, if a disaster occurs, shouldn’t we have an agile response system in place?
In our childhood the textbooks taught us that the river Kosi was the “sorrow of Bihar”. Our textbooks have a bad reputation for being outdated or irrelevant. It was somewhat in this light that we took the epithet given to Kosi. It was only as much real for us as Hwang-Ho being the “sorrow of China.”
But this August millions of people in north-eastern Bihar witnessed a doomsday scenario first hand. We were jolted out of our stupor and made to realise how near-extinct facts given in our textbooks can come alive anytime. The Kosi flood, approriately declared a “national calamity”, is probably the worst recorded in the history of modern India.
The media, though somewhat late, acquainted the nation with the veritable seas formed on land. Supaul, Madhepura, Araria and Purnia have become household names. We were shown how destruction is only a matter of days in vast swathes of land. We saw how technology is still in its infancy when it comes to tackling the might of nature. We witnessed how the goons and the greedy valued money over lives. There was also the tragi-comic element of politicians scoring brownie points in this hour of peril.
The water may have started receding and the land even dried by the time you read this. But the months to come will be a challenge for the Nitish Kumar government, whose good deeds have been literally washed away by the floods. Providing refuge to the deprived millions is not an easy job. Controlling epidemics that may break out in the aftermath of the flood will not be easy either.
That is for the short term. In the long term, there are several pressing questions on which all of us must ponder. One, is the course changed by the river going to remain so in the years or decades to come? Two, do we have embankments enough to check the rivers from becoming a curse? Three, is it enough to build embankments without caring for maintenance? Four, do we need to control rivers or manage them? And finally, if a disaster occurs, shouldn’t we have an agile response system in place?
Seeking Attention
(Published in Banking Services Chronicle September 2008)
Why does one write or publish a magazine? It may be plainly for making money. Or it may be prompted by the urge to express oneself. Or it may have an altruistic motive behind it. Whichever may be the motive behind writing, there is one thing in common. One writes in order to seek attention for otherwise none of the motives mentioned above can be achieved.
Seeking attention has been a natural phenomenon down the ages. Even birds and beasts do it. The dog begins to wag his tail to draw the attention of his master. The peacock flares his iridescent blue-green feathery tail to create an impression on the female of his species.
The humankind has its own ways of seeking attention. Wearing jewellery has been an age-old practice, especially on auspicious occasions when large crowds gather. These days people flaunt mobiles, watches and cars, depending on what they can afford.
Apart from material possessions, speeches and actions are also used to seek attention. Politicians like Amar Singh and the Thakres are masters of the art of making provocative statements. As a group of parties, the Left is adept at seeking attention. Though it seldom has more than one trump card, it knows when to play it. It is little bothered even if it holds the country to ransom.
People know how to perfect the art of seeking attention, which is much like wearing a miniskirt. What it reveals is attractive but what is conceals is vital. And it is in striking this balance that the charm lies, the art flourishes.
One should remember, however, that most of these means of seeking attention are short-lived. They are fleeting like fashion. To embrace them is to revel in the five minutes of fame that an appearance on TV brings.
The time-tested way of seeking attention is through merit. It may take time to come in the limelight through this route but it endures. Think of any successful person worth his name and you will get the proof.
Why does one write or publish a magazine? It may be plainly for making money. Or it may be prompted by the urge to express oneself. Or it may have an altruistic motive behind it. Whichever may be the motive behind writing, there is one thing in common. One writes in order to seek attention for otherwise none of the motives mentioned above can be achieved.
Seeking attention has been a natural phenomenon down the ages. Even birds and beasts do it. The dog begins to wag his tail to draw the attention of his master. The peacock flares his iridescent blue-green feathery tail to create an impression on the female of his species.
The humankind has its own ways of seeking attention. Wearing jewellery has been an age-old practice, especially on auspicious occasions when large crowds gather. These days people flaunt mobiles, watches and cars, depending on what they can afford.
Apart from material possessions, speeches and actions are also used to seek attention. Politicians like Amar Singh and the Thakres are masters of the art of making provocative statements. As a group of parties, the Left is adept at seeking attention. Though it seldom has more than one trump card, it knows when to play it. It is little bothered even if it holds the country to ransom.
People know how to perfect the art of seeking attention, which is much like wearing a miniskirt. What it reveals is attractive but what is conceals is vital. And it is in striking this balance that the charm lies, the art flourishes.
One should remember, however, that most of these means of seeking attention are short-lived. They are fleeting like fashion. To embrace them is to revel in the five minutes of fame that an appearance on TV brings.
The time-tested way of seeking attention is through merit. It may take time to come in the limelight through this route but it endures. Think of any successful person worth his name and you will get the proof.
Motive behind Beijing Olympics
(Published in Banking Services Chronicle August 2008)
Beijing will host the 2008 Summer Olympics, officially known as the Games of the XXIX Olympiad, from Aug 8 to 24. In preparation for this for the past few years all roads have led to Beijing. China has incurred massive expenditure to showcase the events that have an Athenian pedigree. Its demand for steel revitalized a dying sector and may have helped LN Mittal soar among the richest.
Is this a waste of wealth or an investment? According to S&P Ratings Services, “Despite being the costliest games ever, Beijing Olympics won’t be a financial millstone.” The Games will only leave the Chinese capital with a developed infrastructure. Look at the major expansion in the subway system of Beijing, for example. Currently, there are four lines and 64 stations. As a preparation for the Olympics, an additional seven lines and more than 80 new stations are being constructed, including a direct link to Beijing Capital International Airport.
The Olympics are expected to give a boost to the economy in various ways. They are expected to add two million jobs. The Gross Domestic Product (GDP) growth of China is likely to go up by 0.3 per cent merely on account of the Olympics. If the homework for the Games has resulted in an uplift of China’s infrastructure, the actual hosting of the events will be a shot in the arm for its tourism sector.
All that sounds good. But are the economic benefits commensurate with the expenditure incurred? Probably not. The real motive of the investment seems to be above mere number-crunching. It’s RECOGNITION. It’s a common experience that in the first phase countries, like people, strive to be wealthy. In the second the focus shifts on being recognized.
This quest for recognition has been accepted by Chinese authorities. It was made clear by the vice-premier Li Lanqing in 2001: “The winning of the 2008 Olympic bid is an example of the international recognition of China’s social stability, economic progress and the healthy life of the Chinese people.”
Recognition is a must for a country with a dismal human rights record like China. Will the Beijing Olympics achieve this purpose? At least the torch relay does not seem to suggest so.
Beijing will host the 2008 Summer Olympics, officially known as the Games of the XXIX Olympiad, from Aug 8 to 24. In preparation for this for the past few years all roads have led to Beijing. China has incurred massive expenditure to showcase the events that have an Athenian pedigree. Its demand for steel revitalized a dying sector and may have helped LN Mittal soar among the richest.
Is this a waste of wealth or an investment? According to S&P Ratings Services, “Despite being the costliest games ever, Beijing Olympics won’t be a financial millstone.” The Games will only leave the Chinese capital with a developed infrastructure. Look at the major expansion in the subway system of Beijing, for example. Currently, there are four lines and 64 stations. As a preparation for the Olympics, an additional seven lines and more than 80 new stations are being constructed, including a direct link to Beijing Capital International Airport.
The Olympics are expected to give a boost to the economy in various ways. They are expected to add two million jobs. The Gross Domestic Product (GDP) growth of China is likely to go up by 0.3 per cent merely on account of the Olympics. If the homework for the Games has resulted in an uplift of China’s infrastructure, the actual hosting of the events will be a shot in the arm for its tourism sector.
All that sounds good. But are the economic benefits commensurate with the expenditure incurred? Probably not. The real motive of the investment seems to be above mere number-crunching. It’s RECOGNITION. It’s a common experience that in the first phase countries, like people, strive to be wealthy. In the second the focus shifts on being recognized.
This quest for recognition has been accepted by Chinese authorities. It was made clear by the vice-premier Li Lanqing in 2001: “The winning of the 2008 Olympic bid is an example of the international recognition of China’s social stability, economic progress and the healthy life of the Chinese people.”
Recognition is a must for a country with a dismal human rights record like China. Will the Beijing Olympics achieve this purpose? At least the torch relay does not seem to suggest so.
Crisis of Global Leadership
(Published in Banking Services Chronicle July 2008)
We are standing at a crossroads in history. The world after a long time seems to be facing the crisis of leadership. The British Empire is long dead and even forgotten by the new generation. The USSR has disintegrated and Russia has been reduced to an ordinary citizen of the world. The Asian century may have started but China and India have miles to go. The EU is but a conglomeration of countries.
That leaves the reins of the world in the hands of the sole superpower, the US. It has a significant population both in quality and in number. It is the largest economy of the world. Post-World War II, its military might has been universally accepted. Culturally, we talk of the McDonaldisation of the world.
So where is the problem? The problem is that it is not necessary that a good player be a good captain too. Indian cricket has time and again experimented with Sachin Tendulkar as captain and failed. The US’ case is worse than Tendulkar’s as haughtiness rules over humility. So one may have sympathy with Tendulkar the captain but the US as a leader invites the wrath of several countries.
The US has the bad habit of preaching democracy to the world and that too its own version. Besides, while there may be perfect democracy within the country, at the world level its Big Brother attitude defeats its purpose of disseminating the democratic gospel. The US must learn how to share democracy with the world.
The leader of a democratic world has to see that partnerships between countries should be based on equality, mutual respect and understanding. The US has to refrain from irresponsible statements like ‘The Indians and the Chinese eat more’ even if they be true. But that is too much to expect from leaders like George Bush.
Perhaps the new (wo)man in White House will understand things better. Fortunately or unfortunately, we have none but the US to lead us at the present juncture. If it does not realise its responsibility, mankind will be the ultimate sufferer.
We are standing at a crossroads in history. The world after a long time seems to be facing the crisis of leadership. The British Empire is long dead and even forgotten by the new generation. The USSR has disintegrated and Russia has been reduced to an ordinary citizen of the world. The Asian century may have started but China and India have miles to go. The EU is but a conglomeration of countries.
That leaves the reins of the world in the hands of the sole superpower, the US. It has a significant population both in quality and in number. It is the largest economy of the world. Post-World War II, its military might has been universally accepted. Culturally, we talk of the McDonaldisation of the world.
So where is the problem? The problem is that it is not necessary that a good player be a good captain too. Indian cricket has time and again experimented with Sachin Tendulkar as captain and failed. The US’ case is worse than Tendulkar’s as haughtiness rules over humility. So one may have sympathy with Tendulkar the captain but the US as a leader invites the wrath of several countries.
The US has the bad habit of preaching democracy to the world and that too its own version. Besides, while there may be perfect democracy within the country, at the world level its Big Brother attitude defeats its purpose of disseminating the democratic gospel. The US must learn how to share democracy with the world.
The leader of a democratic world has to see that partnerships between countries should be based on equality, mutual respect and understanding. The US has to refrain from irresponsible statements like ‘The Indians and the Chinese eat more’ even if they be true. But that is too much to expect from leaders like George Bush.
Perhaps the new (wo)man in White House will understand things better. Fortunately or unfortunately, we have none but the US to lead us at the present juncture. If it does not realise its responsibility, mankind will be the ultimate sufferer.
7 Principles of Small Innovations
(Published in Banking Services Chronicle June 2008)
I came across a news report recently. Bhaskaran, a furniture shop supervisor in Vadakkancherry near Thrissur, has designed a brake for elephants. It prevents the jumbos from wreaking havoc, a common phenomenon when these otherwise gentle creatures go berserk. Bhaskaran was prompted to invent this device by the cases of elephant violence witnessed during the temple festival season in summer.
Reading about this small innovation set me googling. And I came across small business expert Darrell Zahorsky’s 7 Principles of Small Innovations. I have borrowed them to apply the same to the students.
1. Free time: Everyone wishes to have more than 24 hours in a day. This certainly is one wish that can never be fulfilled unless the scale of time is re-invented. What then is the way out? Go for short-cuts and quicker methods. A speedy journey makes the distance shorter and frees time for you.
2. Collect ideas: The world is ruled by ideas. So do not shy away from collecting them irrespective of what source they come from. If you are armed with ideas, you can face the world much better.
3. Look outside: It is necessary to be an extrovert. Success, except perhaps in the spiritual sense, can be had only in a world of competition. And this world exists outside.
4. Be customer-centric: Again, success consists in providing satisfaction to your customer. So when you look out, identify who your customers are and what they need. Mould yourself accordingly.
5. Use all types of innovation: Don’t think of waiting for the best innovation. It will never come. Use whatever innovation you have made or come across. More often than not, the innovation is likely to click.
6. Ask the right questions: A focus, however, needs to be retained on your field of concern. It is relevance and accuracy that distinguishes the winner from the also-ran.
7. Make a daily habit: Making innovations should become a part of your life wherever possible. Remember everyone saw the apple fall but it was Newton who discovered in it a grand phenomenon.
I came across a news report recently. Bhaskaran, a furniture shop supervisor in Vadakkancherry near Thrissur, has designed a brake for elephants. It prevents the jumbos from wreaking havoc, a common phenomenon when these otherwise gentle creatures go berserk. Bhaskaran was prompted to invent this device by the cases of elephant violence witnessed during the temple festival season in summer.
Reading about this small innovation set me googling. And I came across small business expert Darrell Zahorsky’s 7 Principles of Small Innovations. I have borrowed them to apply the same to the students.
1. Free time: Everyone wishes to have more than 24 hours in a day. This certainly is one wish that can never be fulfilled unless the scale of time is re-invented. What then is the way out? Go for short-cuts and quicker methods. A speedy journey makes the distance shorter and frees time for you.
2. Collect ideas: The world is ruled by ideas. So do not shy away from collecting them irrespective of what source they come from. If you are armed with ideas, you can face the world much better.
3. Look outside: It is necessary to be an extrovert. Success, except perhaps in the spiritual sense, can be had only in a world of competition. And this world exists outside.
4. Be customer-centric: Again, success consists in providing satisfaction to your customer. So when you look out, identify who your customers are and what they need. Mould yourself accordingly.
5. Use all types of innovation: Don’t think of waiting for the best innovation. It will never come. Use whatever innovation you have made or come across. More often than not, the innovation is likely to click.
6. Ask the right questions: A focus, however, needs to be retained on your field of concern. It is relevance and accuracy that distinguishes the winner from the also-ran.
7. Make a daily habit: Making innovations should become a part of your life wherever possible. Remember everyone saw the apple fall but it was Newton who discovered in it a grand phenomenon.
Bring Back the Music
(Published in Banking Services Chronicle May 2008)
“If you sang in tune with me, I would deem life to be a success.” This is a wish partners have expected of each other in every age. But the present age has turned this wish into a lament. Differences of opinion have always existed. In the past, however, compromises were seen as a way of life. Today, a compromise is construed to be admitting defeat.
Earlier, victory and triumph were associated only with the ruling class. The masses had an inveterate belief in destiny. They were magnanimous in defeat because they never aspired to victory. The democratization of society, however, changed things. Even aspirations became democratized.
When everyone decides to be a maharajah there is bound to be a chaos. The harmony of an orchestra is lost. The notes are jarring and one feels as if one were imprisoned in the Tower of Babel. Everyone tries to fish in the troubled waters. They lure you every now and then on your mobile. And then you blame those unsolicited calls and SMSes as uncouth interrupters.
The music has certainly been lost somewhere. We live in an age when we are afraid even to eat and drink freely. It first started with water. When the firangis came to India they carried bottles of mineral water. Today Bisleri has become an everyday word with a large number of us. The buck doesn’t stop there. When you go to parties you have to be cautious of certain food. Even in five-star hotels. And then those “clean” precautions. No sugar. No fat. The list goes on and on.
When things come to such a pass, it’s time we introspected. It’s time we realized that the wages of sin are visiting mankind. Not in the form of death. But in the form of a dead life.
The doctors of this disease prescribe a medicine called “sustainable development”. But taking this medicine exacts an exorbitant price: giving up our aspirations. Are we ready to pay that price? Pay we must if we have to bring back the music lost from our lives.
“If you sang in tune with me, I would deem life to be a success.” This is a wish partners have expected of each other in every age. But the present age has turned this wish into a lament. Differences of opinion have always existed. In the past, however, compromises were seen as a way of life. Today, a compromise is construed to be admitting defeat.
Earlier, victory and triumph were associated only with the ruling class. The masses had an inveterate belief in destiny. They were magnanimous in defeat because they never aspired to victory. The democratization of society, however, changed things. Even aspirations became democratized.
When everyone decides to be a maharajah there is bound to be a chaos. The harmony of an orchestra is lost. The notes are jarring and one feels as if one were imprisoned in the Tower of Babel. Everyone tries to fish in the troubled waters. They lure you every now and then on your mobile. And then you blame those unsolicited calls and SMSes as uncouth interrupters.
The music has certainly been lost somewhere. We live in an age when we are afraid even to eat and drink freely. It first started with water. When the firangis came to India they carried bottles of mineral water. Today Bisleri has become an everyday word with a large number of us. The buck doesn’t stop there. When you go to parties you have to be cautious of certain food. Even in five-star hotels. And then those “clean” precautions. No sugar. No fat. The list goes on and on.
When things come to such a pass, it’s time we introspected. It’s time we realized that the wages of sin are visiting mankind. Not in the form of death. But in the form of a dead life.
The doctors of this disease prescribe a medicine called “sustainable development”. But taking this medicine exacts an exorbitant price: giving up our aspirations. Are we ready to pay that price? Pay we must if we have to bring back the music lost from our lives.
Investor Needs to Mature
(Published in Banking Services Chronicle April 2008)
We are going gaga over our GDP growth. At a commendable rate of 8-9 per cent we are next only to China. We are supposed to be the leaders of the Asian century. The growth story on the whole seems impressive. Those who are bullish on India are even tempted to see the country as an equal partner of the US and the EU.
But let us not jump to hasty conclusions. Many a batsman has disappeared into thin air even after scoring a century on his debut. Reason: their technique or temperament was riddled with holes. Indian economy too is riddled with holes of disparity. The Great Indian Wealth is concentrated in the hands of a few. The proportion of earners is far from adequate. According to a survey conducted by insurance company Max New York Life and New Delhi-based research body National Council for Applied Economic Research (NCAER), 68 per cent families still depend on single member’s earnings.
Moreover, we must not forget: it is difficult to earn, more difficult to save, most difficult to invest. The good news is that Indians have an inherent trait of saving. Despite the recent boom in consumerism, about 81 per cent of Indian households save. In the times of recession it is something the Americans might envy. But the bad news is that our people don’t know how to invest. Investment has traditionally been the prerogative only of the Marwaris and the Gujaratis. Sadly enough, things haven’t changed much even today.
We tend to either play too safe or throw caution to the wind. On the one hand, more than one-third of the people simply keep their surplus income at home — in cash. Half of the people park their surplus in commercial banks. On the other hand, when the stock markets were peaking, there was a blind rush for shares best symbolised by the huge oversubscription to the Reliance IPO.
The investor here needs to mature. They need to tread the middle path. Says Planning Commission Deputy Chairman Montek Singh Ahluwalia: “People don’t plan rationally for risks. There is a need for contractual, long-term saving.”
Once this maturity comes in, not only will our growth go into double digits but also it will be a more rounded one. We will not only grow but also develop.
We are going gaga over our GDP growth. At a commendable rate of 8-9 per cent we are next only to China. We are supposed to be the leaders of the Asian century. The growth story on the whole seems impressive. Those who are bullish on India are even tempted to see the country as an equal partner of the US and the EU.
But let us not jump to hasty conclusions. Many a batsman has disappeared into thin air even after scoring a century on his debut. Reason: their technique or temperament was riddled with holes. Indian economy too is riddled with holes of disparity. The Great Indian Wealth is concentrated in the hands of a few. The proportion of earners is far from adequate. According to a survey conducted by insurance company Max New York Life and New Delhi-based research body National Council for Applied Economic Research (NCAER), 68 per cent families still depend on single member’s earnings.
Moreover, we must not forget: it is difficult to earn, more difficult to save, most difficult to invest. The good news is that Indians have an inherent trait of saving. Despite the recent boom in consumerism, about 81 per cent of Indian households save. In the times of recession it is something the Americans might envy. But the bad news is that our people don’t know how to invest. Investment has traditionally been the prerogative only of the Marwaris and the Gujaratis. Sadly enough, things haven’t changed much even today.
We tend to either play too safe or throw caution to the wind. On the one hand, more than one-third of the people simply keep their surplus income at home — in cash. Half of the people park their surplus in commercial banks. On the other hand, when the stock markets were peaking, there was a blind rush for shares best symbolised by the huge oversubscription to the Reliance IPO.
The investor here needs to mature. They need to tread the middle path. Says Planning Commission Deputy Chairman Montek Singh Ahluwalia: “People don’t plan rationally for risks. There is a need for contractual, long-term saving.”
Once this maturity comes in, not only will our growth go into double digits but also it will be a more rounded one. We will not only grow but also develop.
Terror Strike in Maldives
(Published in Banking Services Chronicle March 2008)
We are moving increasingly towards a globalised world. Technology has made everything in the world much more easily accessible. But in a globalised world that promises equal access to things, some ideas and cultures are more equal than others.
It is this paradox that has made the world such an unsafe place to live in.
As Western culture liberally enters the minds of the youth, there is a backlash from the fundamentalists. The latter fear that their culture may get swamped by the appeal of the dazzling divas of Beverly Hills. The reactionary approach taken to avert extinction is often thoughtless. And it results in what the educated see as primitivism.
Until recently, Maldives was a paragon of liberal values. But the September 29 Sultan Park bombing in the capital Male is an evidence of the fact that things are no more the same. The first-ever Islamist terror strike in the Maldives is a reflection of the increasing cultural influence of the Islamists in what used to be an almost ostentatiously westernised society. There are more women wearing headscarves than short skirts or jeans now. Growing number of men can be seen sporting full-length beards.
If it can happen in the Maldivian paradise, it can happen anywhere else. The aspirations of social groups or communities that Sir VS Naipaul pointed to in India: A Million Mutinies Now become more pronounced when they see a threat to their existence. Whenever intruders from an alien culture have tried to make inroads, the natives have resisted. Today the resistance is not easy to defeat. Any such conflict gets humungous publicity, thanks to an overwhelming presence of the media.
If the world leaders desire peace, they will have to think beyond sustainable development. This requires an accommodation of culture. It is said that respect should be commanded, not demanded. So should be the case with cultural superiority. The West needs to learn how to play the benevolent Big Brother.
We are moving increasingly towards a globalised world. Technology has made everything in the world much more easily accessible. But in a globalised world that promises equal access to things, some ideas and cultures are more equal than others.
It is this paradox that has made the world such an unsafe place to live in.
As Western culture liberally enters the minds of the youth, there is a backlash from the fundamentalists. The latter fear that their culture may get swamped by the appeal of the dazzling divas of Beverly Hills. The reactionary approach taken to avert extinction is often thoughtless. And it results in what the educated see as primitivism.
Until recently, Maldives was a paragon of liberal values. But the September 29 Sultan Park bombing in the capital Male is an evidence of the fact that things are no more the same. The first-ever Islamist terror strike in the Maldives is a reflection of the increasing cultural influence of the Islamists in what used to be an almost ostentatiously westernised society. There are more women wearing headscarves than short skirts or jeans now. Growing number of men can be seen sporting full-length beards.
If it can happen in the Maldivian paradise, it can happen anywhere else. The aspirations of social groups or communities that Sir VS Naipaul pointed to in India: A Million Mutinies Now become more pronounced when they see a threat to their existence. Whenever intruders from an alien culture have tried to make inroads, the natives have resisted. Today the resistance is not easy to defeat. Any such conflict gets humungous publicity, thanks to an overwhelming presence of the media.
If the world leaders desire peace, they will have to think beyond sustainable development. This requires an accommodation of culture. It is said that respect should be commanded, not demanded. So should be the case with cultural superiority. The West needs to learn how to play the benevolent Big Brother.
Treat Past as an Asset
(Published in Banking Services Chronicle February 2008)
Can we do away with our past? Possibly not. Nor is there any need to do so. On the contrary, it is an asset that can work wonders for us if only we knew how to use it.
I have often seen two diametrically opposite responses to the past. The first is to gloat over one’s past. Till recently India didn’t tire of referring to herself as the “golden bird”. The aristocracy and the upper castes assert their superiority with the help of pages from history. This is a response coming typically from a previous champion who is now unable to get through even in the initial rounds.
The other response is to completely ignore the past. To believe that history is the refuge of the weak. Augustine Birrell refers to it as “that great dust-heap called ‘history’.” The downtrodden either believe history to be doctored or consider it to be irrelevant since their description in it is not of any significance.
Unfortunately, both the above responses lead us to various biases. While the former may breed complacency, the latter is likely to lead to a life divorced from culture. It is therefore prudent to follow what Aristotle described as the “golden mean.” Don’t gloat over your past; but don’t forget it either; rather restore it and build upon it.
A society that has understood this secret stands to prosper. Free from all complexes, it navigates across the waters of time and gathers the best of treasures from various shores both close and distant. It is no exaggeration to say that the developed world today is largely a result of the efforts made by the Renaissance men. Leonardo da Vinci and his brethren visited the shores of ancient Greece and Rome and restored light to a Europe that was groping in the Dark Ages.
What needs to be remembered, however, is that the past is only to be borrowed from, not to be copied. Ultimately, it is originality that triumphs. It is the new flower that blooms. But the new flower can’t even dream of an existence if it did not get nutrients from the soil.
Can we do away with our past? Possibly not. Nor is there any need to do so. On the contrary, it is an asset that can work wonders for us if only we knew how to use it.
I have often seen two diametrically opposite responses to the past. The first is to gloat over one’s past. Till recently India didn’t tire of referring to herself as the “golden bird”. The aristocracy and the upper castes assert their superiority with the help of pages from history. This is a response coming typically from a previous champion who is now unable to get through even in the initial rounds.
The other response is to completely ignore the past. To believe that history is the refuge of the weak. Augustine Birrell refers to it as “that great dust-heap called ‘history’.” The downtrodden either believe history to be doctored or consider it to be irrelevant since their description in it is not of any significance.
Unfortunately, both the above responses lead us to various biases. While the former may breed complacency, the latter is likely to lead to a life divorced from culture. It is therefore prudent to follow what Aristotle described as the “golden mean.” Don’t gloat over your past; but don’t forget it either; rather restore it and build upon it.
A society that has understood this secret stands to prosper. Free from all complexes, it navigates across the waters of time and gathers the best of treasures from various shores both close and distant. It is no exaggeration to say that the developed world today is largely a result of the efforts made by the Renaissance men. Leonardo da Vinci and his brethren visited the shores of ancient Greece and Rome and restored light to a Europe that was groping in the Dark Ages.
What needs to be remembered, however, is that the past is only to be borrowed from, not to be copied. Ultimately, it is originality that triumphs. It is the new flower that blooms. But the new flower can’t even dream of an existence if it did not get nutrients from the soil.
Commemorating Sir Don
(Published in Banking Services Chronicle January 2008)
Happy New Year! Welcome to the year 2008. The new year will witness the Olympics in Beijing. The mega symbol of the ancient West travels to modern Orient, which is in the race to become “faster, higher, stronger”.
While the world of sports gets ready to celebrate the biggest event on earth, cricket-lovers have their own little festival this year. Sir Donald George Bradman, arguably the greatest cricketing legend, would have been a ripe hundred years old on 27 Aug, 2008. The master of tons—29 in 52 Tests—fell eight short of a ton in life when he passed away on 25 Feb, 2001.
Sir Don’s statistical performance is perhaps the greatest in any sport. With a Test batting average of 99.94, he towers over all the other great batsmen—Len Hutton, the three Ws, Sunil Gavaskar, Viv Richards, Brian Lara, Ricky Ponting and Sachin Tendulkar, to name a few. Sunny Gavaskar, who broke Sir Don’s record of centuries, appeared to labour for that in comparison to the Don’s elegance.
Arch-rivals England were stunned by the way Don Bradman played. It was not for nothing that cricket writer RC Robertson-Glasgow wrote about the English reaction the following words when Bradman retired: “... a miracle has been removed from among us. So must ancient Italy have felt when she heard of the death of Hannibal.” His comparison to the Carthaginian military commander—one of the finest in history—speaks volumes.
What were the trademarks of this legend? Fast footwork, calm confidence and rapid scoring. Now, these are in general the mantras of success that anybody may apply in one’s life. Most of us are too lethargic to make room for the ball. We want to have the ball come on to our bat. But success comes to those who make the ball come on to their bats.
At the same time we don’t have to be hasty. This is where calm confidence comes into play. And in today’s Internet age rapid scoring has become all the more important. So let the scoreboard tick and be in full control.
If Sir Don had perfected this art, so can you.
Happy New Year! Welcome to the year 2008. The new year will witness the Olympics in Beijing. The mega symbol of the ancient West travels to modern Orient, which is in the race to become “faster, higher, stronger”.
While the world of sports gets ready to celebrate the biggest event on earth, cricket-lovers have their own little festival this year. Sir Donald George Bradman, arguably the greatest cricketing legend, would have been a ripe hundred years old on 27 Aug, 2008. The master of tons—29 in 52 Tests—fell eight short of a ton in life when he passed away on 25 Feb, 2001.
Sir Don’s statistical performance is perhaps the greatest in any sport. With a Test batting average of 99.94, he towers over all the other great batsmen—Len Hutton, the three Ws, Sunil Gavaskar, Viv Richards, Brian Lara, Ricky Ponting and Sachin Tendulkar, to name a few. Sunny Gavaskar, who broke Sir Don’s record of centuries, appeared to labour for that in comparison to the Don’s elegance.
Arch-rivals England were stunned by the way Don Bradman played. It was not for nothing that cricket writer RC Robertson-Glasgow wrote about the English reaction the following words when Bradman retired: “... a miracle has been removed from among us. So must ancient Italy have felt when she heard of the death of Hannibal.” His comparison to the Carthaginian military commander—one of the finest in history—speaks volumes.
What were the trademarks of this legend? Fast footwork, calm confidence and rapid scoring. Now, these are in general the mantras of success that anybody may apply in one’s life. Most of us are too lethargic to make room for the ball. We want to have the ball come on to our bat. But success comes to those who make the ball come on to their bats.
At the same time we don’t have to be hasty. This is where calm confidence comes into play. And in today’s Internet age rapid scoring has become all the more important. So let the scoreboard tick and be in full control.
If Sir Don had perfected this art, so can you.
Leadership Should Inspire Confidence
(Published in Banking Services Chronicle December 2007)
The Hindustan Times recently hosted a Leadership Summit. Articles were published in the run-up to the event and there were lectures at the Summit. When the ideas of leadership was so much in the air, I tried to figure out its most important attribute. I found out that, essentially, leadership should inspire confidence.
Says Dr Elattuvalapil Sreedharan, Managing Director, Delhi Metro Railway Corporation (DMRC): “I have noticed a welcome change in the last two decades. Call it the result of economic reforms or a new awakening, these last few years have given Indians the confidence to believe in themselves.”
Inspiring confidence is what the Renaissance men and the usherers of the Industrial Revolution did to the British. What followed as a result constitutes the largest chapter of modern history. The confident Europeans made the world their oyster and ruled virtually the entire planet for about two centuries. Closer home, it is this confidence that Gandhi inspired among the Indians, leading ultimately to the overthrow of the British Empire.
If India could do it then, we can also do it now. Change in circumstances can be tackled with the indomitability of the spirit. In fact, this is all the more likely today when India races on youth power. Says PRS Oberoi, Chairman and Chief Executive Officer, East India Hotels Ltd: “What gives me hope is that a majority of India’s current population is under 25 years of age. The energy and ambition of the young could be the drive to propel us in the right direction.”
India’s recent triumph in Twenty20, the latest version of cricket, is a case in point. MS Dhoni — Microsoft’s latest program in leadership? — inspired his boys to play confidently. And they managed to scale the peak and emerged as heroes (who cares if some experts think Twenty20 is anything but cricket?).
However, confidence should not be naively interpreted as brashness or blind hitting. It needs to be tempered with caution.
The Hindustan Times recently hosted a Leadership Summit. Articles were published in the run-up to the event and there were lectures at the Summit. When the ideas of leadership was so much in the air, I tried to figure out its most important attribute. I found out that, essentially, leadership should inspire confidence.
Says Dr Elattuvalapil Sreedharan, Managing Director, Delhi Metro Railway Corporation (DMRC): “I have noticed a welcome change in the last two decades. Call it the result of economic reforms or a new awakening, these last few years have given Indians the confidence to believe in themselves.”
Inspiring confidence is what the Renaissance men and the usherers of the Industrial Revolution did to the British. What followed as a result constitutes the largest chapter of modern history. The confident Europeans made the world their oyster and ruled virtually the entire planet for about two centuries. Closer home, it is this confidence that Gandhi inspired among the Indians, leading ultimately to the overthrow of the British Empire.
If India could do it then, we can also do it now. Change in circumstances can be tackled with the indomitability of the spirit. In fact, this is all the more likely today when India races on youth power. Says PRS Oberoi, Chairman and Chief Executive Officer, East India Hotels Ltd: “What gives me hope is that a majority of India’s current population is under 25 years of age. The energy and ambition of the young could be the drive to propel us in the right direction.”
India’s recent triumph in Twenty20, the latest version of cricket, is a case in point. MS Dhoni — Microsoft’s latest program in leadership? — inspired his boys to play confidently. And they managed to scale the peak and emerged as heroes (who cares if some experts think Twenty20 is anything but cricket?).
However, confidence should not be naively interpreted as brashness or blind hitting. It needs to be tempered with caution.
Corruption Everywhere
(Published in Banking Services Chronicle November 2007)
When a nation completes 60 years, its pillars are expected to be reinforced in strength. But when corruption becomes part of the business, you can’t expect the same. We are used to the caving in of roads and collapsing of bridges because of corruption involved in the contract. Somewhat similar is the case of the four pillars on which our nation rests, viz the legislative, the executive, the judiciary and the media.
The legislative consists of the politicians. Their lack of integrity is an open secret. The high pedestal that Gandhi and Nehru occupied seems to have disappeared in the sky for the politicians of today. They see elections as a business where money is invested in order to reap a bumper harvest when they come into power.
The executive too has lost the prestige it once had. Bureaucracy has become a much-abused word. There are few Indian films where the police are not portrayed as being greedy for money. The sleaze in bureauracy has alienated many a bright person from the corridors of power.
And now it’s the turn of the judiciary to be exposed. Whether the allegations levelled against former chief justice Sabharwal turn out to be true or not, it is clear that there is rot in the system. Things had ceased to be fair right from the days judges began to be handpicked. But now their avarice seems to have stooped to new lows.
Nor is the media, the watchdog of democracy, above suspicion. Cases like the one of Uma Khurana project the journalists in a poor light. The debate on the abuse of sting operation has once again been brought to the fore.
In short, it is a gloomy scenario. One that takes us on the verge of despair. But that would be a losing proposition. Instead, let us remember that a disaster in the World Cup may be followed by sheer brilliance in Twenty20. The recipe is: Promise that you will not be corrupt. That would leave us enough to hope.
When a nation completes 60 years, its pillars are expected to be reinforced in strength. But when corruption becomes part of the business, you can’t expect the same. We are used to the caving in of roads and collapsing of bridges because of corruption involved in the contract. Somewhat similar is the case of the four pillars on which our nation rests, viz the legislative, the executive, the judiciary and the media.
The legislative consists of the politicians. Their lack of integrity is an open secret. The high pedestal that Gandhi and Nehru occupied seems to have disappeared in the sky for the politicians of today. They see elections as a business where money is invested in order to reap a bumper harvest when they come into power.
The executive too has lost the prestige it once had. Bureaucracy has become a much-abused word. There are few Indian films where the police are not portrayed as being greedy for money. The sleaze in bureauracy has alienated many a bright person from the corridors of power.
And now it’s the turn of the judiciary to be exposed. Whether the allegations levelled against former chief justice Sabharwal turn out to be true or not, it is clear that there is rot in the system. Things had ceased to be fair right from the days judges began to be handpicked. But now their avarice seems to have stooped to new lows.
Nor is the media, the watchdog of democracy, above suspicion. Cases like the one of Uma Khurana project the journalists in a poor light. The debate on the abuse of sting operation has once again been brought to the fore.
In short, it is a gloomy scenario. One that takes us on the verge of despair. But that would be a losing proposition. Instead, let us remember that a disaster in the World Cup may be followed by sheer brilliance in Twenty20. The recipe is: Promise that you will not be corrupt. That would leave us enough to hope.
Satisfying What Others Need
(Published in Banking Services Chronicle October 2007)
Thank you, dear Reader! We have entered into the 15th year of publication. Had it not been for your support we could not have crossed this milestone. The success of any publication is a two–way process. As is evident between you and us. We try to provide you what you demand. And your purchase of the product encourages us to meet your demand further. This cycle continues.
What holds good for our success is also true of success in general. The world holds you in high esteem only when you come true to its expectations. It has framed certain rules of the game and you have to abide by them. Off–side goals are only a nuisance.
This wisdom can be found in JD Salinger’s The Catcher in the Rye. Its protagonist Holden Caulfield is about to be packed off from his fourth school. What is it that has made him earn this unenviable distinction? The answer lies in what his friend Stradlater says to him: “No wonder you’re flunking the hell out of here. You don’t do one damn thing the way you’re supposed to. I mean it. Not one damn thing.
Holden also realises this later on though the realisation doesn’t make him any the happier. He says: “I’m always saying ‘Glad to’ve met you’ to somebody I’m not at all glad I met. If you want to stay alive, you have to say that stuff, though.”
The secret of success then is to smile. You have to smile because the world loves a smiling face. And when you know that smile you must, why not do it whole-heartedly instead of wearing an artificial version? Try to put your heart into it and you’ll soon find a welcome change in your life.
Give to the world what it needs and success will be yours. And do so with a cheerful disposition.
Thank you, dear Reader! We have entered into the 15th year of publication. Had it not been for your support we could not have crossed this milestone. The success of any publication is a two–way process. As is evident between you and us. We try to provide you what you demand. And your purchase of the product encourages us to meet your demand further. This cycle continues.
What holds good for our success is also true of success in general. The world holds you in high esteem only when you come true to its expectations. It has framed certain rules of the game and you have to abide by them. Off–side goals are only a nuisance.
This wisdom can be found in JD Salinger’s The Catcher in the Rye. Its protagonist Holden Caulfield is about to be packed off from his fourth school. What is it that has made him earn this unenviable distinction? The answer lies in what his friend Stradlater says to him: “No wonder you’re flunking the hell out of here. You don’t do one damn thing the way you’re supposed to. I mean it. Not one damn thing.
Holden also realises this later on though the realisation doesn’t make him any the happier. He says: “I’m always saying ‘Glad to’ve met you’ to somebody I’m not at all glad I met. If you want to stay alive, you have to say that stuff, though.”
The secret of success then is to smile. You have to smile because the world loves a smiling face. And when you know that smile you must, why not do it whole-heartedly instead of wearing an artificial version? Try to put your heart into it and you’ll soon find a welcome change in your life.
Give to the world what it needs and success will be yours. And do so with a cheerful disposition.
Flush with Money and Leisure
(Published in Banking Services Chronicle September 2007)
We are happy that Taj Mahal has finally been formally acknowledged among the new seven wonders of the world. It little matters whether UNESCO accepts it or not. I am also proud to be a citizen of the country where this beautiful monument is located.
But here I am more interested in the phenomenon than in the monument. Why suddenly this need to select the new seven wonders? And what about the mode chosen—cast your vote on the Internet or through SMS—for compiling the illustrious who’s who of monuments?
Both the questions are pointers to the fact that people have enough leisure and money. And they are constantly looking for avenues where they can spend both. You may argue that people of yesteryears had more time than we of the 24×7 work culture have. That’s true. But note that I don’t use the word time but leisure. Earlier there was time but social interactions and family responsibilities had a big claim on it. The loners of today, on the other hand, may have less of time spared from office. But they certainly have much more leisure.
Money is another big factor. The people of today, especially youngsters, may have money on their minds. But that is big money, not money to make both ends meet. They are not compelled to become an engineer at the earliest so that the bread and butter of the family would be assured. They are free to choose unconventional career tracks and explore them. And most of them soon begin to earn more than enough and splurge money without a thought.
In such a scenario where you have leisure and money both and you do not have too much of society, you begin to look for entertainment. And this entertainment has both outdoor and indoor dimensions. The former is manifested in the globe-trotter who will physically visit these new wonders. While the latter is manifested in those who surf the Internet on the computer or touch the mobile screen to wallow in this wonderful world.
Welcome to the world of tourism and entertainment!
We are happy that Taj Mahal has finally been formally acknowledged among the new seven wonders of the world. It little matters whether UNESCO accepts it or not. I am also proud to be a citizen of the country where this beautiful monument is located.
But here I am more interested in the phenomenon than in the monument. Why suddenly this need to select the new seven wonders? And what about the mode chosen—cast your vote on the Internet or through SMS—for compiling the illustrious who’s who of monuments?
Both the questions are pointers to the fact that people have enough leisure and money. And they are constantly looking for avenues where they can spend both. You may argue that people of yesteryears had more time than we of the 24×7 work culture have. That’s true. But note that I don’t use the word time but leisure. Earlier there was time but social interactions and family responsibilities had a big claim on it. The loners of today, on the other hand, may have less of time spared from office. But they certainly have much more leisure.
Money is another big factor. The people of today, especially youngsters, may have money on their minds. But that is big money, not money to make both ends meet. They are not compelled to become an engineer at the earliest so that the bread and butter of the family would be assured. They are free to choose unconventional career tracks and explore them. And most of them soon begin to earn more than enough and splurge money without a thought.
In such a scenario where you have leisure and money both and you do not have too much of society, you begin to look for entertainment. And this entertainment has both outdoor and indoor dimensions. The former is manifested in the globe-trotter who will physically visit these new wonders. While the latter is manifested in those who surf the Internet on the computer or touch the mobile screen to wallow in this wonderful world.
Welcome to the world of tourism and entertainment!
Money Is a Bad Master
(Published in Banking Services Chronicle August 2007)
“There are some things money can’t buy. For everything else there’s MasterCard.” This credit card ad has a great philosophy hidden in it if you can think of putting emphasis on some in the first sentence. True, it is difficult to put that emphasis in a world of hefty pay-packets. But don’t forget success has always embraced those who have dared to venture into the arena of the difficult.
Most of us think money can buy us power. But the truth is that it may be a necessary condition but not a sufficient one. Can the Ambanis command the influence that Sonia Gandhi does? Forget political power, even the other power—electricity, that is—is not available simply by spending money. Money can help you establish a power plant but there are environmental costs involved.
Similarly, free market, which believes in money being the chief regulator, has its own limits. When it comes to oil prices, they have to be administered through a mechanism. We just can’t afford to raise petrol and diesel prices every time crude oil prices go up at the international level. Otherwise inflationary pressures might bring the economy to a virtual standstill.
I have been an advocate of capitalism for long. I believe that incentives are necessary for every human being to motivate them to produce. And yet I also believe that money is not the be-all and end-all of life. And I write all this because I have seen many who do not realise this even till the end of their lives.
Wisdom by its very nature can’t come early in life as its needs experience. But it shouldn’t come too late either because a good life is one that has been lived wisely. There are people who run after money so much that they can’t find time for their children. Can parental affection ever be compensated with money?
What is the wisdom about money then? I’m afraid it’s nothing new I’m going to reveal. It’s the age-old truth. “Money is a good servant but a bad master.” Earn as much as you can but don’t ever forget the motive for which you are earning.
“There are some things money can’t buy. For everything else there’s MasterCard.” This credit card ad has a great philosophy hidden in it if you can think of putting emphasis on some in the first sentence. True, it is difficult to put that emphasis in a world of hefty pay-packets. But don’t forget success has always embraced those who have dared to venture into the arena of the difficult.
Most of us think money can buy us power. But the truth is that it may be a necessary condition but not a sufficient one. Can the Ambanis command the influence that Sonia Gandhi does? Forget political power, even the other power—electricity, that is—is not available simply by spending money. Money can help you establish a power plant but there are environmental costs involved.
Similarly, free market, which believes in money being the chief regulator, has its own limits. When it comes to oil prices, they have to be administered through a mechanism. We just can’t afford to raise petrol and diesel prices every time crude oil prices go up at the international level. Otherwise inflationary pressures might bring the economy to a virtual standstill.
I have been an advocate of capitalism for long. I believe that incentives are necessary for every human being to motivate them to produce. And yet I also believe that money is not the be-all and end-all of life. And I write all this because I have seen many who do not realise this even till the end of their lives.
Wisdom by its very nature can’t come early in life as its needs experience. But it shouldn’t come too late either because a good life is one that has been lived wisely. There are people who run after money so much that they can’t find time for their children. Can parental affection ever be compensated with money?
What is the wisdom about money then? I’m afraid it’s nothing new I’m going to reveal. It’s the age-old truth. “Money is a good servant but a bad master.” Earn as much as you can but don’t ever forget the motive for which you are earning.
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