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Increasing non co-operation of state leaders Kudos to NDTV... Streamlining mandatory third party cover Solar, solar everywhere … Lalu’s envy, India’s pride The Swadeshi Trump Contrarian cousins Nuclear power at the nucleus Towards speedy justice Align crops to agro climate endowments… Don’t seem to feel the pulse… Plummeting profits of PSBs Fall in crude prices help in oil sector reform Solar thermal shines… When Ratan Tata visited SRM R Sridhar steps down as CEO of Shriram Capital Discoms deserve better… Excel Generators provide the vital back-up Permanent secretariat for TN GIM Intellectual of rare qualities Parliament in paralysis... Shanti and Sadhana through Music Poor quality of university VCs For whom the bell tolls? Protest masters... Dr C Rangarajan returns to Chennai Which side are you, Montek? A professional at the helm of IRDA... Alexa – Talking Wikipedia Fortune 500 review Liberal imports idling indigenous capacities The ‘Jayanthi Tax.’ A more liberated TN… IAS invades NDDB... When nations steal growth from one another… Tribute Five star activism stalls development activity L&T: focus on infrastructure and more infrastructure… Shaming of Tamils by Tamil farmers at Delhi Computation of GDP – conundrums continue EVM is tamper-proof Valli, they are more marginalised Online not in line with brick and mortar businesses... Small units prefers to remain small... Kulandai was a giant More Shakti to resource mobilisation... Poor representation for Kerala and TN in Cabinet When online building permits work…. Why this malaise in medical education? Funding the un-funded Revive development banks... Gas is the way forward A glass full of corruption Infrastructure funding – lessons learnt The star of Spencers is no more When TN politicians can emulate Kerala's Preserving for the future Engineering seats go abegging A C Muthiah – his munificent bequeaths to science A rich pool of talent not utilised…. Reliance’s TV – 18 ready to launch Tamil News Channel MHC should not return to its old indisciplined ways Robber barons everywhere The nuclear option Telangana in top gear… Build close rapport with business leaders Marketing expert Balagopal is no more CII projects higher growth… Pharma – overdose of copying Limit foreign borrowings to hi-tech, export potential projects... Polls and promises Cutting the nose to spite the face Rahman at CIC Naidu will soon build a new Hyderabad Godspeed, Chief Minister JJ TN accounts for the largest recruits by the IT sector A friendly business group The Jan Dhan bonanza TN-leverage strength of BHEL, NLC... …and of a popular trade leader Padma Bhushan for A Ramakrishna Eternal support for capitalisation of PS banks Fortune for Indian Airlines Revving up the manufacturing sector Whistle-Stop Tour of Raghuram Rajan Put expensive assets created to use... TGS- The king storyteller Welcome thrust on trade in Modi’s foreign visits... Strengthen the base... Russi Mody – a tribute Vibrant Gujarat Sweet news for TN sugar mills A Grand Finale for SN’s MS centenary at the US… Like Hinduism: many paths to reach God... The power-full Hindujas Colour-Chem’s colourful KRVS A proud Madrasi Tihar, Puzhal not different from Parappana Agrahara Bihar – Nitish Kumar adopts the Lalu model Modi and the lady Adapt Vajpayee dinner diplomacy Mu Sigma – is no more Kinetic Karnataka Make standards certification mandatory... China invests in India Auto components surge… ONGC at KG Basin Multi-faceted Venkat Quality education through the PPP mode B H Kothari - a tribute WTO Meet: resolved to meet again Quality silica from Neyveli How Air-India loses customs... This scant respect for Law GM Technology at last! Cleaning Ganga – relocate tanneries and install electric crematoria Editor's Notes More Shakthi to Das’ elbow The ‘Ayyo-yes’ is no more Haul over the coal The few handicaps... Airlines in India: cost and space Tribute – UCAL Selvan… The sea- saw battle continues... Diamond jubilee of Egmore Samskrt School CSR and CMI: promise of another Srinivasan Ramanujan... TELANGANA at last…BUT Delhi is distant Recognition to role of NBFCs.... Lesson from Chandrababu Naidu No engine for this car Should we change the official year? Demise of a media baron... An informal presentation - analytical, forward locking... New IT products of Ramco in the pipeline… Odisha: spectacular win by Naveen Patnaik Making ‘my Amaravati’... PC’s preference for professionals Breaththrough in malaria control Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated S V Raju – a ‘good’ true liberal Focus on quality of power - its only around 170-180V F C Kohli - his concerns all embracing Readers' Mail Where is Rajaji? SoA @ 80 Mersal magnified Of course, Gujarat is vibrant No mega rail project for Tamil Nadu Moily’s bold thrust S Ramanathan – a versatile musician, musicologist More tributes to GR Return to king coal for urea... Come elections, come advertisements... Wise Presidents GNS - 100: our first subscriber Tribute – M V Murugappan Tatas moving out of urea production... Convulsions in The Hindu Music happens Delhi is distant… For whom the MIDS bell tolls? Air Asia India will set new benchmarks for budget travel Sweeter prospects for sugar IPL type auction for VCs? Gay abandon in pricing Modi storms Silicon Valley Sri Lanka votes for change Cement prices continue to rise… London, London Narayan CRS, a jewel among managers, is no more. CIPET hqrs to stay at Guindy – for the present? Roaring Ro-Ro facility PPP mode for upgrading Corporation Hospitals When the President was rendered homeless… TIAM turns a full cycle Road development slows down Fuel for thought Tatas moving out of urea production... to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines Editor's Says A Grand Finale for SN’s MS centenary at the US… Inflation: are we emulating Argentina and Brazil? IPL - no surprise this scam Building loyalty through the stomach A welcome initiative by the judiciary Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Tribute – Manikam Ramaswami Remembering Indira Sivasailam... A think tank for Chennai The brown list of Venkitaramanan Welcome focus on core competence Paytm karo... Tough task taking states together Wanted: a second airport for Chennai A yen for wastage… An enemy’s enemy is a friend He continues the focus on social amelioration Insurance companies bleeding, yet no decision on increasing FDI limit! Adharma of opposition politics All eyes on Sankara Nethralaya The balancing act Why land prices zoom in TN? Naidu’s return augurs well for Seemandhra Medical costs hit the roof... West Bengal: mindless malignancy Another Indian music maestro at the UN Muffled voices for merit… L&T- the specialty of special purpose vehicles Maximising the micro pricing … Tax agriculture TN – agglomerate land holdings without alienating ownership The why of tax incentives He saved millions from starvation... Shipping woes of Chennai companies Delhi returns to BJP EEC at the National Media Centre No Maha Koottani in TN... The rise and rise of KCP More heat than light Waning interest in public discussions… Measuring roof tops in terms of KW/MW Things happen by accident and not by design... The rise and fall of Annamalai University Noble nonagenarians... Banning booze... Welcome changes that testify to Jayalalithaa’s return to health Bihar elections - the Rajaji formula worked Shale gas and its shallow future Not just in-laws (and outlaws); they’ve renowned academics at the helm! Where a state respects its litterateurs… When small is no larger beautiful.. Delhi Chalo... Rs.1600 crore paper board plant of TNPL Land reclamation from sea appears cheaper! Secularism and anti-Hinduism There was flood of milk. Reason: no milk commissioner! An inexplicable neglect The Ports’ Pasha expands into Tamil Nadu Scientists urged to take up farmer-oriented research Welcome GST The Gulf aviation boom Silver Years of Madras Musings Boy, can you beat these?
 
Eternal support for capitalisation of PS banks

The NDA II government has initiated action against eight chairmen and managing directors of public sector banks finding serious irregularities associated with them. These relate to several questionable actions like spike in NPAs' bad recoveries...

IE has been pointing to the deficiencies in the system of thrusting CMDs and EDs on banks on industry- wide seniority. In such a system one noticed an ED of a bank posted as the CMD of another over

limited tenures of a maximum of five years or retirement earlier on superannuation. IE has pointed to unsavoury practices by the experience of Indian Overseas Bank. This bank had for years the CEO thrown up from the ranks accumulating the work culture of the bank as also its clientele. Those brought from outside took time to find the roots. Ambitious bankers like M Narendra used the position on self-promotion. These included carrying the favour of the Union Finance Minister, the Minister of State for Finance, and the deputy governor Reserve Bank. The bank even celebrated its founder’s day in the capital. New publications on the history of the bank were produced. Like M Gopalakrishnan of Indian Bank earlier, credit was dispensed liberally. It should not, therefore, be surprising that the bank leads in the matter of NPAs. The second quarter results show a staggering 29 per cent increase.

There are reasons to suspect lapses just due to suspicious deals too. A chartered accountant specialising in banking deals narrated this incident:  sick company with huge bank debt sought the assistance of this chartered accountant. There was accumulated debt of around Rs 10 crore. The CA established contact through some intermediaries with a high profile politician having close links with the North Block. A deal was struck, whereby a settlement was made for less than half the amount due. A hefty fee was paid in cash through carefully delineated channel to this high profile politician. The CA said that such settlements were legion. The powerful Congress politician had huge incomes on such settlements, impoverishing the banks.

Bank chairmen adapted the noblesse oblige policy and expected due favours from the boss at the North Block. The appointments of chairmen of banks were done on an arbitrary manner through an opaque process as happens in appointments of vice chancellors of state  - run universities in Tamil Nadu.

The NDA government has announced a transparent system in the selection and appointment of chairman and executive directors of public sector banks. This needs to be commended.

Yet another welcome step by the Modi government is the plan to offload shares in excess of 51 per cent. In the present boom in the stock market, such a measure can help banks raise the needed resources for increasing the capital in accordance with the Basel norms. It is unacceptable for public sector banks to look for the government to capitalise them eternally.  Large private banks like HDFC and ICICI raise the needed capital on their own. Modi would do well to proceed with the plan to reduce state ownership to 51 per cent, to start with and progress to 26 per cent in due course. In this process he should ensure that such large institutions would stand on their own.

 

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