"Just over Rs 2 trillion -- roughly the value of one private sector bank (ICICI Bank). This is value destruction on a colossal scale, and misdirection of public money, which could be better deployed elsewhere -- such as for health programmes..No No ,our banking system is colossal -------(you put whatever word you like to) .India you ,ENJOY IT>In colleges it is taught control is measuring the actual output against the expected outcome and correct it when the deviation is small before it grows big enough that the system spins out of control.That Engineering student Economist by profession said once with economic Liberalization control was not in place.The bankdom, may be, didn't hear it.There is aproverb :Even when throw anything into the river measure, know how much you throw and then throw.That is not for our BANKDOM.After all it is the Public money/Life is to be enjoyed at the cost of the others money R.Ponnambalam
Re: Life is to be enjoyed at the cost of other's money
by R ponnabalam on Mar 13, 2018 09:09 PM
and correcting it when the deviation is-- R.Ponnambalaam
"Just over Rs 2 trillion -- roughly the value of one private sector bank (ICICI Bank). This is value destruction on a colossal scale, and misdirection of public money, which could be better deployed elsewhere -- such as for health programmes..No No ,our banking system is colossal -------(you put whatever word you like to) .India you ,ENJOY IT>In colleges it is taught control is measuring the actual output against the expected outcome and correct it when the deviation is small before it grows big enough that the system spins out of control.That Engineering student Economist by profession said once with economic Liberalization control was not in place.The bankdom, may be, didn't hear it.There is aproverb :Even when throw anything into the river measure, know how much you throw and then throw.That is not for our BANKDOM.After all it is the Public money/Life is to be enjoyed at the cost of the others money R.Ponnambalam
"must find worthwhile private owners for some of the banks, "All the people who had contributed to unrecovered loan and loan - write off are all once worthwhile lot.India always teaches to speak truth because we don't speak the truth:the truth about the bank- working ways.We won't get corrected with all the pretensions of impeccable honesty in banking Sector.R.Ponnambalam
"must find worthwhile private owners for some of the banks, "All the people who had contributed to unrecovered loan and loan - write off are all once worthwhile lot.India always teaches to speak truth because we don't speak the truth:the truth about the bank- working ways.We won't get corrected with all the pretensions of impeccable honesty in banking Sector.R.Ponnambalam
As per Research paper by Thomas Piketty and Lucas Chancel web site WID.world in India in 1930s Top 1% earners captured 21% of total income. In the early 1980s that dropped to 6% income for top 1%. After independence the then P.M.Jawaharlal Nehru implemented a set of socialist policies with strict govt.control over economy with an explicit goal to limit the power of the elite the report said.’ The policies implemented by himself and his followers including his daughter upto mid 1970s included nationalization strong market regulation and high tax progressivity.These measures and others had a significant impact on the income inequality. Over 1950-1980 the bottom 50% captured 28% of the total growth and the income of this group grew faster than the average and the top 0.1%incomes decreased. Over 1980 -2014 bottom 50% had 11%) and top 0.1%Earners captured a higher share of the total growth of 12% as against the than the bottom 50% . The income share of India’s top 1% rose from approximately 6% in 1882 -1883 to above 10% a decade later and then to 15% in 2000 and further still around by 23% by 2014 These reveal that the privatization and market Economy had served the Rich .So we need privatization to serve the RichPeople .R,Ponnambalam
As per Research paper by Thomas Piketty and Lucas Chancel web site WID.world in India in 1930s Top 1% earners captured 21% of total income. In the early 1980s that dropped to 6% income for top 1%. After independence the then P.M.Jawaharlal Nehru implemented a set of socialist policies with strict govt.control over economy with an explicit goal to limit the power of the elite the report said.’ The policies implemented by himself and his followers including his daughter upto mid 1970s included nationalization strong market regulation and high tax progressivity.These measures and others had a significant impact on the income inequality. Over 1950-1980 the bottom 50% captured 28% of the total growth and the income of this group grew faster than the average and the top 0.1%incomes decreased. Over 1980 -2014 bottom 50% had 11%) and top 0.1%Earners captured a higher share of the total growth of 12% as against the than the bottom 50% . The income share of India’s top 1% rose from approximately 6% in 1882 -1883 to above 10% a decade later and then to 15% in 2000 and further still around by 23% by 2014 These reveal that the privatization and market Economy had served the Rich .So we need privatization to serve the RichPeople .R,Ponnambalam
As per Research paper by Thomas Piketty and Lucas Chancel web site WID.world in India in 1930s Top 1% earners captured 21% of total income. In the early 1980s that dropped to 6% income for top 1%. After independence the then P.M.Jawaharlal Nehru implemented a set of socialist policies with strict govt.control over economy with an explicit goal to limit the power of the elite the report said.’ The policies implemented by himself and his followers including his daughter upto mid 1970s included nationalization strong market regulation and high tax progressivity.These measures and others had a significant impact on the income inequality. Over 1950-1980 the bottom 50% captured 28% of the total growth and the income of this group grew faster than the average and the top 0.1%incomes decreased. Over 1980 -2014 bottom 50% had 11%) and top 0.1%Earners captured a higher share of the total growth of 12% as against the than the bottom 50% . The income share of India’s top 1% rose from approximately 6% in 1882 -1883 to above 10% a decade later and then to 15% in 2000 and further still around by 23% by 2014 These reveal that the privatization and market Economy had served the Rich .So we need privatization to serve the RichPeople .R,Ponnambalam
As per Research paper by Thomas Piketty and Lucas Chancel web site WID.world in India in 1930s Top 1% earners captured 21% of total income. In the early 1980s that dropped to 6% income for top 1%. After independence the then P.M.Jawaharlal Nehru implemented a set of socialist policies with strict govt.control over economy with an explicit goal to limit the power of the elite the report said.’ The policies implemented by himself and his followers including his daughter upto mid 1970s included nationalization strong market regulation and high tax progressivity.These measures and others had a significant impact on the income inequality. Over 1950-1980 the bottom 50% captured 28% of the total growth and the income of this group grew faster than the average and the top 0.1%incomes decreased. Over 1980 -2014 bottom 50% had 11%) and top 0.1%Earners captured a higher share of the total growth of 12% as against the than the bottom 50% . The income share of India’s top 1% rose from approximately 6% in 1882 -1883 to above 10% a decade later and then to 15% in 2000 and further still around by 23% by 2014 These reveal that the privatization and market Economy had served the Rich .So we need privatization to serve the RichPeople
If you want to make PSB like private bank then do the following things."Be capable enough to select some honest competent men who learn the job as the need arises and do it well sincerely and honestly.Control means measure the actual outcome against the desired outcome and take remedy at short notice .India willingly doesn't do it and befools the Public .If you cannot do all these, better don't be a Govt.Where the men folk are good everything turns out good there.DISCIPLINE FLOWS FROM THE TOP>This author wrote that RBI was winking at balance sheet fudging by banks until some three and half years back. Then ???"Where men folk tear away ledger sheets to destroy record of loan given , or have never known on his own study that there is a workable project there will be only unrecovered loan and Bank write off,R.Ponnambalam
