Deposit-taking institutions run risk of getting sucked into vortex of mistrust. More reliable banks may see rush of deposits away from second-tier lenders.
Airshows are thrilling spectacles of aviation skill and engineering marvels. But they carry inherent risks as the crew is pushing the aircraft, and themselves, to perform at the edges of the envelope.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Wing Commander Namansh Syal is survived by his wife, their 6-year-old daughter and his mother. Back in his native village, relatives and neighbours wait for his remains for last rites.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
1. PMC Bank’s problems are similar to those faced by many cooperative banks. Is it not true that management control of many cooperative banks is in hands of influential politicians and the subservient bureaucracy? Those in control of banks are always ready to be of assistance of fraudsters who are experts in unethical job of diverting funds to borrowers whose credit worthiness is doubtful. This has been happening for years and it appears that Reserve Bank of India too is helpless. 2. Basic purpose of promoting cooperatives is perfectly okay but in actual practice, politicians, ably supported by bureaucrats, control most of the cooperative banks and other cooperative enterprises like Sugar and Milk cooperatives. This is the truth. It is necessary to mention here that ineffective annual audit of most of the cooperative institutions is a major lacuna. This deficiency is further underscored when such audits are supervised by the Central Registrar of Cooperative Societies with its headquarters in New Delhi. The mess in PMC Bank is just one example of cooperatives’ mismanagement. It will certainly not be the last.
The RBI is like the cuckold who is the last person in town to learn of his wife’s infidelity. Most of the time it is cutting rates or serving as ATM for the fisc. A recent Governor bemoaned that it had little effective control over the PSBs, directly under Delhi’s supervision. On cooperative banks, it defers to the state governments. 2. Anyone who knows anything about Bombay’s real estate knows what HDIL stands for. India Bulls is another politics dense institution. If there are “ kacha chitchat “ on everyone of note, why not on these dodgy institutions that can take the financial system down.
1. PMC Bank’s problems are similar to those faced by many cooperative banks. Is it not true that management control of many cooperative banks is in hands of influential politicians and the subservient bureaucracy? Those in control of banks are always ready to be of assistance of fraudsters who are experts in unethical job of diverting funds to borrowers whose credit worthiness is doubtful. This has been happening for years and it appears that Reserve Bank of India too is helpless. 2. Basic purpose of promoting cooperatives is perfectly okay but in actual practice, politicians, ably supported by bureaucrats, control most of the cooperative banks and other cooperative enterprises like Sugar and Milk cooperatives. This is the truth. It is necessary to mention here that ineffective annual audit of most of the cooperative institutions is a major lacuna. This deficiency is further underscored when such audits are supervised by the Central Registrar of Cooperative Societies with its headquarters in New Delhi. The mess in PMC Bank is just one example of cooperatives’ mismanagement. It will certainly not be the last.
The RBI is like the cuckold who is the last person in town to learn of his wife’s infidelity. Most of the time it is cutting rates or serving as ATM for the fisc. A recent Governor bemoaned that it had little effective control over the PSBs, directly under Delhi’s supervision. On cooperative banks, it defers to the state governments. 2. Anyone who knows anything about Bombay’s real estate knows what HDIL stands for. India Bulls is another politics dense institution. If there are “ kacha chitchat “ on everyone of note, why not on these dodgy institutions that can take the financial system down.
… kacha chitthas, what would in officialise be known as dossiers.