978 Musings on Basil Convention, International Rating Agencies, Indian Public Sector Banks

Since the last many years, one question which has continually been tormenting me, without disappearing from my memory, although there is no need for me to remember it continuously, is: Should India ceaselessly promise this or that, to somebody or other, in numerous meetings, both formal and informal? Latest trigger for my this outpouring of mine, is the string of promises made by Mr. Arun Jaitley, Finance Minister of India, as reflected in Economic Times New Report dated 9.5.2017, while addressing some meetings in Tokyo. Click here to go to http://economictimes.indiatimes.com/news/economy/policy/government-open-to-providing-more-funds-for-banks-recapitalisation-arun-jaitley/articleshow/58584283.cms . According to the FaceBook Page of Hon. Shri Arun Jaitley, he might have been addressing the Investors' Round Table in Tokyo. Click here to go to the Facebook page of Hon. Arun Jaitley.

Some quotes from Relevant Links

"...Where more funds are required from the government, we will be quite willing to look at that. But once the health of the banks improve, we have also announced that the government will be willing to bring down its equity in the banks to 52 per cent and that can be used for banks' recapitalisation ..."

ybrao-a-donkey's personal views, not intended to be imposed on others, in the following paragraphs marked 'yb'

Citizens of India deposit their moneys with Public Sector Banks in India, based on their INHERENT TRUST IN THEIR GOVERNMENT AND ITS ORGAN RESERVE BANK. They do not bother about the Balance Sheets of the Public Sector Banks, or their Capital. After demonetisation, this trust of the People on their currency notes and their Banks, has temporarily got bruised. Of course, 'Time is the best healer'. This Trust has not been irretrievably damaged. It was only a temporary phenomenon.

Whether to hold 100% Capital, or 52% of Capital in Public Sector Bank, is a Sovereign decision to be taken by the Government. It is an internal affair of India. In addition, it will not be prudent for Indian Public Sector Banks to issue Shares to Foreign Investors, whether 'individual' or 'institutional'. When Private Banks in India were nationalised in 1969, one of the principles adopted was 'Public Funds should not be controlled by Private Individuals and Institutions. Reason: Private Industrialists had a dirty habit of diverting Private Bank funds to their own Companies surreptitiously. If it is not safe to allow Indian Private individuals and institutions to control people's funds deposited with Banks, where is the question of allowing Foreign Individuals and Institutions to invest in Indian Public Sector Banks?

It is not clear why Hon. Jaitley is so devotedly, and dedicatedly promising the Government's bringing down its share to 52% in Indian Public Sector Banks, to Foreigners whether existing investors or prospective investors.

This is a 1000 page subject. More to write.

To continue adding / deleting / modifying. सशेष. ఇంకు ఉంది.

761 So, the Workers of Residual Andhra Pradesh and India ! Get ready to live in Capsule Hotels of our Second Tokyo City!

Mr. Nara Chandra Babu Naidu, the Chief Minister of the State of Residual Andhra Pradesh, India, seems to live in Clouds, day-in and day-out. He wants the Japanese Government, and the Japanese Companies, to make his Capital City AMARAVATHI into Tokyo No. 2. Perhaps, our Hon. Chief Minister may not be knowing how the ordinary people of Tokyo live. Or he may be pretending to NOT KNOW, how the people of Vijayawada live on the hill-slopes of Gunadala Hills, and the people of Tadepalli live on the hill-slopes of Eastern Ghats, with lives threatened during rainy season by the falling boulders.

Here is a beautiful link, to know how the people with low/average incomes live in Tokyo:

Click here to go to: http://japaneseruleof7.com/tokyo-salaries-all-you-need-to-know/

"...Go to bed when the sun goes down and get up when it rises. Hey, back to nature—-Thoreau did it, why not you? It’s just like Walden Pond, only surrounded by miles of concrete. To reach the outside world, you can wander the streets with your foreign cellphone looking for hotspots. That’s called exercise. Think of all the money you’ll save on gym memberships. For weekend entertainment, go to the corner park and sit on the swing-set drinking 100-yen cups of shochu. Forget about dating, unless that guy sleeping in the cardboard box takes a shine to you. And he probably will. ..."

VISITORS TO AMARAVATI, VIJAYAWADA, GUNTUR,-- GET READY FOR BUNKER BEDS AND CAPSULE HOTELS

Here is a Wikipedia.Org link which describes a typical Capsule Hotel. Wikipedia about Capsule Hotels.

One sample from the above Wikipedia link:--

The guest room is a modular plastic or fiberglass block roughly 2 by 1 by 1.25 m (6 ft 7 in by 3 ft 3 in by 4 ft 1 in). Facilities differ, but most include a television, an electronic console, and wireless internet connection. The capsules are stacked side-by-side, two units high, with steps providing access to the second level rooms, leading to comparisons to corpse drawers in a morgue. The open end of the capsule can be closed, for privacy, with a curtain or a fibreglass door. Luggage is stored in a locker; and washrooms are communal. Guests are asked not to smoke or eat in the capsules. Some hotels also provide restaurants (or at least vending machines), pools, and other entertainment facilities.[3] Capsule hotels vary in size, from fifty or so capsules to 700, and they are used primarily by men. Some capsule hotels offer separate sections for male and female guests. Clothes and shoes are sometimes exchanged for a yukata and slippers on entry. A towel may also be provided.

The benefit of these hotels is convenience and low price, usually around ¥2000-4000 (USD 19-38) a night. They provide an alternative for those who (especially on weeknights) may be too drunk to return home safely, or too embarrassed to face their spouses. With continued recession in Japan, as of early 2010, more and more guests - roughly 30% at the Capsule Hotel Shinjuku 510 in Tokyo - were unemployed or underemployed and were renting capsules by the month. This style of hotel has not gained wide popularity outside Japan, although Western variants known as "pod hotels"[7] have been developed, with larger accommodations and often private baths.

Soon after becoming Chief Minister for the third time in 2014, Mr. Chandra Babu Naidu visited Japan. Did he care to just make an enquiry with Indian Embassy in Japan, about how and where the Japanese Workers live in Tokyo, Osaka, Yokohama, Kobe etc. ? Did he visit any Capsule Hotel in Japan?

Mr. Chandra Babu Naidu, Chief Minister of Residual Andhra Pradesh, India may not know how the people of Tokyo live, or how the people of Vijayawada live!

VERY IMPORTANT

ybrao-a-donkey does not intend to belittle Japanese Working Class (Proletariat). We have a lot to learn from the Japan's Working Class. It is neither correct nor possible to compare Japanese workers with Indian Workers.

WHAT HAPPENED FOR SINGAPORE?

Earlier Mr. Chandra Babu Naidu used to beat the people of Residual Andhra Pradesh with his speeches that Singapore is going to build Amaravathi, his Capital. Then he shifted to inviting British Wealth Funds, and then some China Songs. Now, he seems to prefer Japan for hammering the people.

Question: Why do you compare the dreams and fantasies, genuine efforts of Shri Chandra Babu Naidu, to hammering?

Prior to bifurcation of United Andhra Pradesh, Mr. Chandra Babu Naidu started with the song that he would build the Capital of Residual Andhra Pradesh, if Centre gives Rs. 500,000 crore. With that big figure in his mind, he suddenly found that Mr. Narendra Modi as a Great friend of Telugu people, forgetting what happened in 2002. Mr. Modi too has, during his election speeches in Tirupati, and Mangalagiri promised to bring heaven to earth. All those dreams have gone to where?

So, workers of Residual Andhra Pradesh and India! Get Ready for the Second Tokyo.

To continue. सशेष. ఇంకా ఉంది.