From Jimmy Nagarwala’s Rs 60 lakh from SBI to Nirav Modi’s Rs 11,000 crore-plus from PNB, India has a 47-year record of scams in govt banks. Why do all govts still love them?
On her 100th birth anniversary, letters from Indira Gandhi reveal how she handled the fallout of her biggest economic decision as Prime Minister: bank nationalisation.
In 2021, the government allowed telcos to convert interest on deferred spectrum payments and AGR dues into equity. This made it the single largest stakeholder in Vodafone Idea.
New Delhi has, in past, too, objected to Chinese construction activities in Shaksgam Valley. Work in this strategic region gathered pace after the 2017 Doklam stand-off.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
Reading news columns in India these days, is surreal. The number of dead that are evoked, glorified, abused, blamed, worshipped, is astounding. It’s like living in Ramanand Sagars world of 1980s television with pre-historic mythology. Let us, one last time, spell this out: Indira Gandhi, Nehru, Patel, Gandhi are dead – half of them murdered, just to be sure. They are long gone. Modi, the rest of us, this country India is alive. Remember: Alive, not dead. Alive, not ghosts. Alive, not zombies. We – like time – move forward. Economies move forward. We ask questions of those who are Alive. We look around and try emulate countries that exist in the here and now. There is Manmohan Singh – even if the author seems bored of the man – and countless other brains in India, to take inspiration from. Modi could’ve learnt from anyone – absolutely anyone who happens to be Alive and relevant. This is not a multiple choice question where it’s between Indira, Nehru and other dead Soviet folk who lived within context of their time. What you scoff at as Povertarianism is what governments exist for: for people. If you studied Adam Smith even superficially, you would know that governments have the least role to play in capitalism that you are so in love with. Modi having studied nothing is a bumbling, wandering clueless creature to whom you assign clarity of thought and objective. If demonetisation was clarity of thought, I shudder to think what fogginess of thought would be. Indira did what she had to, noones held Modi at gunpoint to repeat her ‘blunders’. Frankly, we would be lucky if he limits himself to those, and doesn’t pull off catastrophic buffoonery of his own. Capitalism is free spirited and lets individuals soar. Modi cages even free thought. He is incapable of freeing the economy. Detesting Nehru is all he ll achieve. A man who’s scared of dead men and ghosts. Chicken.
It takes time for reform to bear fruit. Seldom does the cycle get completed in one term of five years, which has long been the norm at the Centre. So it requires a combination of statesmanship and courage to break the socialist mould. That was the promise of the campaign of 2014, and an exceptional mandate created conditions for audacity and imagination.
Mr Gupta :One cannot privatise banks when there NPA’s are high because
1.The valuation of the bank will be less
2.They are still going ask for bailout and government will have to give as the consequence of not giving a bailout will be collapse of the economy.
Reading news columns in India these days, is surreal. The number of dead that are evoked, glorified, abused, blamed, worshipped, is astounding. It’s like living in Ramanand Sagars world of 1980s television with pre-historic mythology. Let us, one last time, spell this out: Indira Gandhi, Nehru, Patel, Gandhi are dead – half of them murdered, just to be sure. They are long gone. Modi, the rest of us, this country India is alive. Remember: Alive, not dead. Alive, not ghosts. Alive, not zombies. We – like time – move forward. Economies move forward. We ask questions of those who are Alive. We look around and try emulate countries that exist in the here and now. There is Manmohan Singh – even if the author seems bored of the man – and countless other brains in India, to take inspiration from. Modi could’ve learnt from anyone – absolutely anyone who happens to be Alive and relevant. This is not a multiple choice question where it’s between Indira, Nehru and other dead Soviet folk who lived within context of their time. What you scoff at as Povertarianism is what governments exist for: for people. If you studied Adam Smith even superficially, you would know that governments have the least role to play in capitalism that you are so in love with. Modi having studied nothing is a bumbling, wandering clueless creature to whom you assign clarity of thought and objective. If demonetisation was clarity of thought, I shudder to think what fogginess of thought would be. Indira did what she had to, noones held Modi at gunpoint to repeat her ‘blunders’. Frankly, we would be lucky if he limits himself to those, and doesn’t pull off catastrophic buffoonery of his own. Capitalism is free spirited and lets individuals soar. Modi cages even free thought. He is incapable of freeing the economy. Detesting Nehru is all he ll achieve. A man who’s scared of dead men and ghosts. Chicken.
It takes time for reform to bear fruit. Seldom does the cycle get completed in one term of five years, which has long been the norm at the Centre. So it requires a combination of statesmanship and courage to break the socialist mould. That was the promise of the campaign of 2014, and an exceptional mandate created conditions for audacity and imagination.
Mr Gupta :One cannot privatise banks when there NPA’s are high because
1.The valuation of the bank will be less
2.They are still going ask for bailout and government will have to give as the consequence of not giving a bailout will be collapse of the economy.