Thursday, June 20, 2013

ICAI news ; BL Banking; Tax havens ! et al >>>>


Govt notifies Commodity Transaction Tax Rules & Forms for return & appeals filing


NPA issues can be solved once growth gets revives

 ."....... said it would improve only when growth revives..."
It is strikingly a sad commentary that the top brass of a PSB should publicly make such a helpless statement; instead of striving and making the best of efforts to find any possible solutions by getting into and having a grip  of the root causes responsible for being faced with such a deeplorable state of affairs - in the nation's economy.
To react in the least offensive manner, the reported statement makes for an 'imbecile' reading ! It is lacking any real sense or wisdom; no less or more than a poor farmer ignorantly throwing up his hands helplessly upwards, towards the vast sky above, and saying such as that, - sowing of seeds is  possible only if and when Rain God were to come to rescue by favouring with a timely monsoon !!


It’s the time of specialists at banks now


XCerpts >
<Ajai Kumar, Chairman and Managing Director of Corporation Bank, says that the bank has specialists officers in forex, credit, information technology, agriculture, marketing and law, and accounting departments.
The bank has around 7,000 officers. Of these, 116 specialists are in the forex department, 250 in credit, 208 in IT, and 297 officers in agriculture department. In addition, the bank has 84 marketing officers and 36 chartered accountants.>

<> "....says that the bank has specialists officers in forex, credit, information technology, agriculture, marketing and law, and accounting departments. .."

If considered in isolation, may be, this is one change the bank can take pride in, and boast about , to give a pat on its own back. However, a very fundamental aspect namely, the inherent disadvantage of havng too many "specialists" (whatever that really means or connotes in real terms) ought not to be oversighted; that is, should each one of them were to function in a water-tight compartment. completed insulated from the rest,. In other words, what is of the utmost importance is that , in the nature of things, there ought to be a close mutual inter-action and peiodical, nay almost continuous,  feedbacks. so as to ensure that they act in a co-ordinated and harminious way, almost on a day-to-day basis.

To drive home the point in mind, can think of so called specialists in the realm of health and medicine. In deviation and opposed to the past , instead one qualified doctor being in- charge and overseeing a patient through out his illness, today there are specialists whose experience and competence is limited to a particular part of the human body. Remorsefully, while there used to be one specialist for at least some closely inter-connected biological parts, say- ENT, with the passage of time, you now have a specialist separately for ach one i.e. E, N, and T.

To put it, for better clarity, - no specialist in any such field e.g. marketing and law (m &l) could have nothing much to contribute to all such factors having an impact , direct or indirect, to the end financial results, etc. of the overall banking as such, unless he has at least a minimum idea or clue as to how far his input or efforts are going to affect adversely or otherwise the bank's working , in terms of its final financial results. So that he could tailor his contribution suitably and accordingly.Simply stating, what is ideally required is that the specialist say, m& lshould to some extent be equipped , though not fully, so as to qualify himself as a m & l finance man; same way, agro finance man, so on.

Left open to like-minded, - thinking others to give more thoughts on the indicated lines !

In a lighter vein, reminding self of the truth underlying the old saying, - too many cooks spoiling the broth !

Key Note: One remembers to have read an interesting and unusually illuminating article authored by an eminent doctor himself  touching upon the evils given rise to by large scale computerisation in the field of medicine (e.g. in hospitals). (?)  

As said: 
  1. The proof of the pudding is in the eating - The Phrase Finder › Phrase Dictionary - Meanings and Origins
    The proof of the pudding - the meaning and origin of this saying. ... 'The proof of thepudding is in the eating' is a very old proverb. The Oxford Dictionary of ...

For a change, to fit into the context,-

Goodness of the pudding has to be sensed from the eating !

 Tax havens may soon lose their charm (mrl)

Xcerpts :
< Considering all these developments, tax havens may lose their charm sooner than later.
Entities and their consultants should already be going back to the drawing board to devise a Plan B strategy in case the combination of shell companies and tax havens lose their USP.
Lionel Messi is probably a case in point.>


Today, At it Again; not for the first time !

ON JUNE 28 make compassion your passion !!!!

  1. Transforming Passion into Compassion | Psychology Today

    Jun 17, 2009 – No seed ever sees its flower. -Zen saying. The transformation of passion to compassion is one of the everyday miracles about which we ...

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