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BL
Dealing with bank failure
Burdening banks with raising capital beyond a point will hobble credit growth
The Reserve Bank of India’s move to identify domestic systemically important banks (D-SIBs) is a...
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2 comments
There is no
case for the new government to discard Aadhaar.
The Centre
should make all attempts to recommence subsidised LPG cylinder sales through
direct tr... »
BS
Oct 2
Reaction> Reading in between lines, it appears that, the SC's concern is primarily against mandating Aaadhaar uniformly and mindlessly for every one of the services under governmental control, - such as and inclusive of, provision of LPG, which has increasingly become one of the essential 'necessities' of daily life- for every family ,regardless of the class to which it belongs- lowliest to the richest. Presumably, the fear behind is is that by so mandating it should not lead to opening one more convenient route /floodgates for proliferation of 'fakes' and 'duplicates' - as, admittedly, has happened because of similar other mandates e.g. PAN. Further,even if looked at from a societal viewpoint, one thinks that, in the very nature of things, PDS made a mention of is a scheme with a comparatively limited coverage, unlike LPG. It is only hoped that any further steps would be taken by the government , yet again not hastily, but only after an insightful deliberation and proper home work, with a multidimensional approach and intelligent application of mind.
Sept 25
BL
sEPT.. 24
The Centre on Monday told the Supreme Court that securing Aadhaar cards was optional and not mandatory.The apex court, hearing a batch of pleas against decisions of some States to make Aadha... »
SG
Oct 2
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Reaction> Reading in between lines, it appears that, the SC's concern is primarily against mandating Aaadhaar uniformly and mindlessly for every one of the services under governmental control, - such as and inclusive of, provision of LPG, which has increasingly become one of the essential 'necessities' of daily life- for every family ,regardless of the class to which it belongs- lowliest to the richest. Presumably, the fear behind is is that by so mandating it should not lead to opening one more convenient route /floodgates for proliferation of 'fakes' and 'duplicates' - as, admittedly, has happened because of similar other mandates e.g. PAN. Further,even if looked at from a societal viewpoint, one thinks that, in the very nature of things, PDS made a mention of is a scheme with a comparatively limited coverage, unlike LPG. It is only hoped that any further steps would be taken by the government , yet again not hastily, but only after an insightful deliberation and proper home work, with a multidimensional approach and intelligent application of mind.
Sept 25
Keeping Aadhaar |
Don't throw baby out with bathwater
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Govt begins Aadhaar rescue after SC rap |
UID Bill might be pressed in next session of Parliament; question marks on changed shape of direct subsidy transfer
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n view of the categorical reply and implied commitment to the court by the Centre, being the prime architect , nay the only empowered authority, this again should not be made an issue, or a fond or fancy topic for a conflict or confrontation for any State with the Centre. In other words, in one's perceptive understanding, any sort of compulsion or obligation any State may think of resorting to and imposing on the public, for any purpose whatsoever, would prima facie be unconstitutional. Incidentally, the rationale or logic behind the a recent decision of the Centre, with which the process has been given a start all over, to make 'aadhaar' a MUST and to have it linked to LPG supply at a concessional price , comes to surface. The main object, as is commonly understood, being simply to check illegal connections and thereby save the country from the 'outgo' (foregn exchange) attributable thereto, it is for the Centre to deliberate and come out with any possible but less cumbersome alternative solution. Hope the concerned Ministers would mind to lend the ears, and come out with a favourable solution, before it is late !
Subject to well considered views of the others, - around the corner or as always the case, habituated to sit smugly on the fence for the final moment to arrive !
Incidentally, it is observed, a overwhelming majority of alert readers have opted to say 'yes' to the subject welcome development.
BL
sEPT.. 24
Centre to apex court: Aadhaar card optional, not mandatory
The Centre on Monday told the Supreme Court that securing Aadhaar cards was optional and not mandatory.The apex court, hearing a batch of pleas against decisions of some States to make Aadha... »SG
BL
Aug 5
OPINION
A confused, enigmatic RBI
<previous
Our FDI policy is a circus
<>If perceptively , or perspectively, observed, it is not just the one – the FDI poilicy , but everyone of such other policies conceived of, gone ahead with mindlessly or recklessly , to the end of receiving the final 'nod' from the so-imagined 'omnipotent' of the com-mortals, in the recent years, could be more fittingly likened to a puppet show !
<previous
SG
24th
A mindless Prescription of norms - tragically IGNORED IS THE reality that after all 'client' is a mortal; and his midset is so nebulous and ever changing; nor more or less sense than requiring a 'alive certification' once in 3 years !
<Eearlier
BL
Does taxman know you’ve moved?
Some simple steps can go a long way in avoiding hassles at a later stage. »
<> Sharing A Random Thought
The way suggested how to make the taxman know that 'you have moved ' may be one way anyone can readily think of. But taxpayer can have to go extra miles for following that cumbersome way. Instead, now that the Revenue claims to have a foolproof nationwide networking, should not a much easier way be found by the Revenue itself, for achieving the same result , may be by going that one extra mile.
That is this: As is commonly known and made to believe, PAN is the 'AADHAAR” for a taxpayer; and is supposed to be a 'permanent' tracking/tracing handy tool. Further, if one is not mistaken, disclosure of the individual's bank account details and mobile number in the tax return has been rendered more or less compulsory. Perhaps, what needs to be explored is make them mandatory for all, so as to using those as the route for all communications, just as already being done for several other similar matters, without having to bother about the address change,
"....A fundamental reform of the regulatory architecture that relies more on automated internal systems rather than on any human instinct for self-preservation is the need of the hour."
The burden of the song as narrated is, in one's sincere view, not pleasing to the ears or eyes of mortal’s common sense ; on the contrary, is rather founded on prima facie unsound and fundamentally faulty logic. Suggestion to the effect that “automated internal systems” by themselves could be more reliable and provide the necessary but extremely wanting comfort for the industry and its stakeholders cannot be sanely accepted to carry any courage of conviction. Unless and until it is made foolproof by a matching “automated internal controls” , apart from due diligence and non-stop monitoring. Expectation of any such basically misconceived measure like ‘KYC ‘ bringing about a change or improvement in the presently muddled up scenario , even remotely significant or otherwise, to say the least, goes to offend the wisdom of common men; if not of the economic or banking experts.
@ dr tvg
<not-so- unrelated
Internal Controls >
http://blogs.wsj.com/cfo/2013/07/23/firms-fortify-fraud-defenses/
<Xcerpts
Monitoring electronic systems daily and monthly, reconciling accounts, occasional on-site visits, and test counts are ways that J. Stephen McNally, a controller at Campbell, says he can ensure the company’s internal controls.
“Someone else may have that day-to-day control,” he said, “but the company still has ultimate accountability.”
@ dr tvg
<not-so- unrelated
Internal Controls >
|
http://blogs.wsj.com/cfo/2013/07/23/firms-fortify-fraud-defenses/
<Xcerpts
Monitoring electronic systems daily and monthly, reconciling accounts, occasional on-site visits, and test counts are ways that J. Stephen McNally, a controller at Campbell, says he can ensure the company’s internal controls.
“Someone else may have that day-to-day control,” he said, “but the company still has ultimate accountability.”
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