A fair inference is that India has a long way to go before it develops a culture of professional boards accountable to institutional investors".With the experience of the past 70yrs Life of Flourish of our Indian Economicsdom would anybody come forward with the extent of that "long way" , that is whether it will take 10yrs more or 30yrs more ete etc
“ The model that is working better today in private banks is one where a dominant investor calls the shots.:A open letter to P.M. in the” taxguru site” read “The Management appointing the auditors expect them to work in interest of Bank even in case of any negative finding, which defeats the very purpose of the Audit.”This model as said in that letter is also working in India .” A fair inference is that India has a long way to go before it develops a culture of professional boards accountable to institutional investors.”It is an honest appraisal “that tells indirectly that we had not had honest professionalism in those “boards” Then how long?A sixteenth century book by one French authour may be “--- Dubois “ wrote’’The average Indian doesn’t bother about society as long as he and his immediately is not affected.That 16th century to now 21st Century !!! .Everything we Indians do is actuated by avarice but we say that is actuated by our spiritualism. Alaas!!! R.Ponnambalam
“ The model that is working better today in private banks is one where a dominant investor calls the shots.:A open letter to P.M. in the” taxguru site” read “The Management appointing the auditors expect them to work in interest of Bank even in case of any negative finding, which defeats the very purpose of the Audit.”This model as said in that letter is also working in India .” A fair inference is that India has a long way to go before it develops a culture of professional boards accountable to institutional investors.”It is an honest appraisal “that tells indirectly that we had not had honest professionalism in those “boards” Then how long?A sixteenth century book by one French authour may be “--- Dubois “ wrote’’The average Indian doesn’t bother about society as long as he and his immediately is not affected.That 16th century to now 21st Century !!! .Everything we Indians do is actuated by avarice but we say that is actuated by our spiritualism. Alaas!!! R.Ponnambalam
‘Privatisation is all about ensuring greater management accountability for performance.” Does this amount to say that banks for 70 yrs .have had no due accountability ?.What is greater management accountability?What that the greatest accountability still would be ?It is all plying with words to defend respect for our failures and for callousness of the entire set up .Accountability has to be total in every respect without passing the buck providing alongside authentic justiciable supporting.Anything short of that is corruptibility.The privaitizaion is essentially to loot the country as had been well displayed in the past 30yrs .74% of nations wealth with 10% of people and these 74 % of wealth not finding road for investing as was seen during pre Demonetization days.If Privatization is really that effective and useful we must ptivatize the Government itself..R.Ponnambalam.
