New RBI Governor's masseurs [to dressed up accounts] sorry measures.
I would like to start with a quote from one of my favorite author
"We can evade reality, but we cannot evade the consequences of evading reality." Ayn Rand
1] I am not a specialist in finance or commerce or banking but I am a concerned citizen at least for the selfish reason of seeing some money available in my own purse for spending.
2] The day when Raghu was officially announced as RBI's Gov DR. Subramanya Swamy [ because at one point he too was his student] tweeted saying ' He [ raghu ] is a nut case'
3] The fact is, in case if you don't know, the NPA that the nationalized banks have declared is not even one eighth of the actual/real NPA
4] For example one bank declared in its [audited? by whom? why?] accounts NPA as 25k crores whereas its actual NPA is somewhere around 2.5 lakh crores [ when an ordinary small fellow like me can know this fact do you mean to say the RBI and that bank's chairman do not know this ].
5] Even this 25K crores is mostly in the form of useless and dilapidated buildings or unused factory sheds and machines as collateral
6] They [all the policy makers, executers ] all know this and they cannot and/or not willing to do anything about it. Neither can they make those NPAs disappear like handkerchiefs under a magician's hat and bring out birds for next weeks biriyani nor can they lose them like Coal ministry files nor can they find scapegoats like they do with petroleum ministers starting from Natwar Singh, Manishankar Iyer,Jaipal Reddy etc
7] So they have retained the remaining NPAs as RESTRUCTURED ADVANCES and many other similar jargons [ UPA's only contribution to the world is creating new jargons to camouflage and cover up all sorts of misgovernance, all of which will increase the size of next edition of Oxford's dictionary of commerce and finance]
8] Read this article
9] Listen to this speech by DR.Subramanya Swamy
10] Today he [DR.Subramanya Swamy ] is addressing BJPs industrial wing now from 4 P.M before that he addressed a press conference wherein he gave suggestions for 10% growth and I will send you the link later on .Two days back he addressed BJPs CA wing.
11] Finally and most importantly lack of Governance was replaced by mere populist and vote bank politics not only in parliament, various departments of different ministries, hence, obviously in most arms of Govt operations/functioning unfortunately this dirty pollution of the system has percolated into all the micro and macro policy decisions and the paid opinion molders [the media] is also playing to their tunes or observing diplomatic silence whichever is suitable to them.
12] I had a detailed tweeting with Kiren bedi and prof . Vaidy of IIM bangalore how the UPA is killing all the major institutions of the nation one by one they did it to CAG, now to former Army Chief.
13] They want only people like Chawla [ IN EC] Thomas [ as CVC] Balakrishnan [as Chief Justice] etc paid agents working for GOVT.
14] Even in 2G DR.Subramanya Swamy waited for Balakrishnan [as Chief Justice] to retire.
15] In this highly politically polluted atmosphere, the only means by which we can effect a change is again through politics that's why I wrote this some weeks back to Suri
16] All institutions / systems of administrations in India are capable of getting ruined and ruining others around on their own, but this Sonia's mafia in the form of Unscrupulous Politicians Association is speeding it up at such speed that we may not have any system nor the funds to create any new system [almost like a nation irreparably defeated and battered by war]
17] Periodically they also simultaneously pay to some popular figure both nationally or region wise, not necessarily any expert or specialist in the field in which they are commenting or writing, to comment or write in the media some nonsense against Modi [the Government's favorite obsessive paranoia and utmost priority]
18] Even if they perceive anyone as a competitor to their family [Nehru family] for the post of PM [ unless that happens to be a puppet like MMS] the will die in mysterious circumstances and there won't be even any case or investigation done [ ex. M.Scindia, Rajesh Pilot etc another very shrewd politician and once smart looking too though now lopsided mouthed Sharad Pawar to save his life floated his own party signaling that he is not in for PMs race]
19] I would like to quote just two such articles [ though I wrote many such] for which I gave a rejoinder powerful enough
Of course the other one was to the one column wonder T.M. Krishna, the one and only column he ever wrote on politics and my rejoinder
20] Open discussions and debates in media are closed for repair on Sonia's ailment or Rahul's absence during sensitive and crucial issues.
I would like to end with another quote ,
“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”