Monday, 11 November 2019

Rakhumai Rakhumai (Marathi) song

A very good song with deep meaning about importance of women in the worldly affairs.

Well captured by song writer Vaibhav Joshi (Movie : Poshter Girl ) and worth listening.




तुझ्याविना वैकुंठाचा कारभार चालना
एकल्या विठुरायाला हो संसार पेलना
तुझ्याविना वैकुंठाचा कारभार चालना
एकल्या विठुरायाला हो संसार पेलना
ये ग.. ये ग.. रखुमाई ये भक्तांच्या माहेरी
सावलीच्या पावलांनी विठूच्या गाभारी
ये ग.. ये ग.. रखुमाई ये भक्तांच्या माहेरी
सावलीच्या पावलांनी विठूच्या गाभारी
रखुमाई रखुमाई रखुमाई रखुमाई
तुझ्याविना वैकुंठाचा कारभार चालना
एकल्या विठुरायाला हो संसार पेलना
तू सकलांची आई साताजन्माची पुण्याई
घेई पदरात आम्हावरी छाया धर बाई
तुझी थोरवी महान तिन्हीलोकी तुला मान
देई वरदान होऊ तुझ्या पालखीचे भोई
रखुमाई रखुमाई रखुमाई रखुमाई
रखुमाई रखुमाई रखुमाई रखुमाई
तू कृपेचा कळस आम्ही पायरीचे दास
तरी युगे-युगे उपेक्षाच केली तुझी बाई
तू मायेचा सागर आम्ही उपडी घागर
आता करू दे जागर होऊ दे ग उतराई
रखुमाई रखुमाई रखुमाई रखुमाई
रखुमाई रखुमाई रखुमाई रखुमाई
x

Wednesday, 6 November 2019

Incorrect Transfer of Money

An excellent piece by Ray Dalio , The World Has Gone Mad and the System Is Broken, is worth reading to understand:

  1. Flow of money
  2. Government's state of affairs
  3. Challenges for citizens
I will share key points here:

The reason that this money that is being pushed on investors isn’t pushing growth and inflation much higher is that the investors who are getting it want to invest it rather than spend it.

At the same time, large government deficits exist and will almost certainly increase substantially, which will require huge amounts of more debt to be sold by governments—amounts that cannot naturally be absorbed without driving up interest rates at a time when an interest rate rise would be devastating for markets and economies because the world is so leveraged long. Where will the money come from to buy these bonds and fund these deficits? It will almost certainly come from central banks, which will buy the debt that is produced with freshly printed money.

Since there isn’t enough money to fund these pension and healthcare obligations, there will likely be an ugly battle to determine how much of the gap will be bridged by 1) cutting benefits, 2) raising taxes, and 3) printing money (which would have to be done at the federal level and pass to those at the state level who need it). This will exacerbate the wealth gap battle. While none of these three paths are good, printing money is the easiest path because it is the most hidden way of creating a wealth transfer and it tends to make asset prices rise. After all, debt and other financial obligations that are denominated in the amount of money owed only require the debtors to deliver money; because there are no limitations made on the amounts of money that can be printed or the value of that money, it is the easiest path.


Because the “trickle-down” process of having money at the top trickle down to workers and others by improving their earnings and creditworthiness is not working, the system of making capitalism work well for most people is broken. 

If possible read comments section of the article, some are worth reading.

Saturday, 2 November 2019

Say alert at Kartarpur Corridor

Pakistan has opened the Kartarpur Corridor to Indian's. This will help Sikhs in India to visit the holy place of Gurudwara Kartarpur Sahib.

Pakistan Prime Minister offered:

For Sikhs coming for pilgrimage to Kartarpur from India, I have waived off 2 requirements: i) they wont need a passport - just a valid ID;   ii) they no longer have to register 10 days in advance. Also, no fee will be charged on day of inauguration & on Guruji's 550th  birthday.

The Indian Government should reject the offer for waiver of two requirements. This will help Pakistan in providing a window for sending militants to India.

This will be a very loose control over traffic of humans in that corridor.

Requesting Indian Government to reject it and ensure there is a tight control on document verification.

“Stay alert! Don’t let someone’s words blind you from their behavior...

They can say all the right things, they can make you feel things you've never felt before, but don't be fooled; their actions will reveal their true character, desires, and priorities.

Behavior speaks; pay attention to what it tells you. Behavior is math; pay attention to what it reveals.”

Monday, 14 October 2019

Education for the Privileged in India

An eye opener article "The Good Life" in Outlook Business threw me a surprise.

I was aware about Doon School and Woodstock School. But was not aware that it was in lush green hills where the elite and the privileged send their children to ensure the following:

“At Woodstock, we ensure that students live a clean, healthy life in an inspirational environment, where they’re cared for and supported,” 

In other words they are cut off from the harsh realities of life and will never know i.e.:

  • What poverty is?
  • What hardship is?
  • What it takes to rise out from the struggles of day to day life?
Yet these institutions, Woodstock School, do the following for the state:


However, a field expert with no compassion is ineffective. To learn the importance of “service to humanity and the planet,” students have to collaborate with local businesses or NGOs and pick real responsibility tasks, such as in animal husbandry with the local community or solving the water shortage problem in Mussoorie with the help of researchers in the field.

Despite the above social contributions to the Mussoorie (Himachal Pradesh)  by the elite Woodstock School , its worth reading excerpts from an article Unemployment Haunts Himachal Youth:

The number of unemployed workforce in the state is a staggering 8, 92,988, as per the data of the Department of Labour and Employment, (Figures as on 31.03.2017, aged 15-45); it constitutes about 13% of the states total population.

The cardinal question, however, is: What, thus, is the way forward? The manufacturing sector in the state is bad shape for obvious reasons: The hilly terrain, harsh weather conditions, geographical location of the state, lack of adequate infrastructure, non-availability of railways, limited availability of land for industrial use, over dependence on roads for transportation, the cartel of transporters and botched up industrial policy. Consequently, only a handful of jobs were created in this sector-that too, mostly, on the shop floor.

Further , the unemployment rate in Uttarakhand (Doon School is situated in Dehradun) has doubled i.e. from 2.1% in 2004-05 to 4.2% in 2017. Also, in Dehradun unemployment stood at 30.2%.

The question is what have these great alumnus of Woodstock and Doon have contributed for these states in creating employment and infrastructure.

It is important to know that the school fees at Woodstock is :

Fees for 2019-2020 Academic Year
Grade 6 15,90,000 INR
Grade 7 15,90,000 INR
Grade 8 15,90,000 INR
Grade 9 16,46,000 INR
Grade 10 16,46,000 INR
Grade 11 17,65,000 INR
Grade 12 17,65,000 INR

For Doon School it is approx. Rs.10 lacs.

The article in outlook business in the end states the truth:

These schools may seem like paradise but they are not open to all. Only about 100 new kids are taken in each of these schools every year. But, it is worth elbowing your way into them since they send out well-rounded individuals, who are sharp and kind in equal measure.

The students who have not seen the hardships, struggle of common men to stand in queue for a bus or a train or for a basic service first hand will never be a well rounded individual.

This is as good as a man saying i understand labour pain of a women delivering a child.

Saturday, 5 October 2019

Wake Up - Maharashtra Depositors

Thanks, Ms Sucheta Dalal, i decided to look into how many claims were settled by Deposit Insurance and Credit Guarantee Corporation (DICGC).

DICGC helps in insuring the depositors money. Presently the limit is upto Rs.1,00,000. I will reproduce what the DICGC website says:

Each depositor in a bank is insured upto a maximum of 1,00,000 (Rupees One Lakh) for both principal and interest amount held by him in the same right and same capacity as on the date of liquidation/cancellation of bank's licence or the date on which the scheme of amalgamation/merger/reconstruction comes into force.

Due to curiosity , after watching Ms Dalal (Moneylife foundation video), i visited the DICGC website to find out claims paid or settled since August 2006 to December 2017. 

Computing the data available , state wise claim settled, below table displays the State and the number of claims settled:

For the years in 2000

State
06
07
08
09
10
11
12
13
14
15
16
17
T
Maharashtra
2
5
5
17
11
10
10
4
2
1
2
5
74
Gujarat
14
6
6
5
7
2
3
1
1
45
Karnataka
2
1
4
7
6
4
1
25
M.P.
2
4
1
1
1
9
A.P.
4
1
1
1
1
8
U.P.
2
3
1
6
Assam
1
1
1
1
4
Bihar
2
1
3
Rajasthan
1
1
1
3
West Bengal
1
1
1
3
Telangana
1
1
2
T.N.
2
2
Chattisgarh
1
1
2
Odisha
1
1
2
Jharkhand
1
1
Manipur
1
1
Total (T)
25
22
20
34
28
18
16
4
5
4
5
9
190
M.P. - Madhya Pradesh, U.P - Uttar Pradesh, A.P. - Andhra Pradesh, T.N.- Tamil Nadu.

Lessons (since 2006 and especially since 2013)
  • Depositors in Maharashtra should be careful in keeping their life time of savings with Co-operative Banks.
  • Since 2013 Maharashtra had the maximum claim settled i.e. 14.

Table since 2013 displayed below shows depositors from Maharashtra in a very risky position:
State
2013
2014
2015
2016
2017
T
Maharashtra
4
2
1
2
5
14
Assam
1
1
2
Telangana
1
1
2
Rajasthan
1
1
2
Gujarat
1
1
2
West Bengal
1
1
2
Odisha
1
1
A.P.
1
1
Manipur
1
1
Total
4
5
4
5
9
27
Concerns

All the claim settled pertain to Co-Operative Banks, not a single Public Sector or Private Sector Banks are there. Hence, it is safe to deposit with Public Sector and Private Sector banks.

Plea to Government

We know Public sector banks have to improve services and its very time consuming occasionally. Prime Minister of India, please, do not close public sector banks.

Reason for not referring to Private Sector Banks is due to high minimum deposit to be maintained as compared to Public Sector Banks.

Please protect the interest of small depositors. 

Maharashtra Depositors

Depositors, please wake up post PMC Bank failure. This news has been reported in all Television News Channels, Newspapers, Social media. It is time to safeguard your savings. Do not keep your savings in the custody of Politician, Businessmen, Community controlled Co-Operative banks.

06 October 2019
There was an error in the numbers presented in the table above. This was corrected on 06 October 2019.