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Showing posts from October 6, 2019

PMC Bank scam is indication of the systemic rot in India’s financial sector

 18 hours ago  CSS Rao Punjab & Maharashtra Co-operative Bank Ltd (PMC Bank) (Photo: Reuters) Representational image 17Shares The scam in PMC Bank is not the first and will definitely not be last, unless issues plaguing the banking sector are addressed. This article spells out dynamic prescriptions for safeguarding our banks’ resources and grievance redressal. Background PMC (Punjab and Maharashtra Co-operative Bank) was founded in 1984, and has grown into a multi-state bank with over 137 Branches and a deposit base of Rs 11,600 crores and reported advances of Rs 8,383 crores as on 31 st  March 2019. On the fateful morning of 23 rd  September 2019, account holders of this mid-sized, Mumbai head-quartered Co-operative Bank –- which has no previous history of serious default, no strictures passed by RBI or Government -– hit the headlines for all wrong reasons. Newspapers reported on their front page that RBI had placed operating restrictions on PMC Bank for a period of si

Ignoble Don — The Lies, Prevarication, and Mischief of Prof. Amartya Sen

Ramesh Rao Oct 12  · 11 min read Amartya Sen, Lamont University Professor Emeritus at Harvard, won the Nobel Prize for Economics in 1998. The  award citation  said that his research was on “… how individuals’ values can be considered in collective decision-making and how welfare and poverty can be measured. His efforts stem from his interest in questions of distribution and, in particular, the lot of society’s poorest members”. A  Harvard Gazette  report on him winning the Nobel Prize says he earned the prize for his work on poverty and famine. The good professor’s net worth is now calculated at $16 million, and we can therefore surmise that studying poverty pays well. To supplement that income, he is now married to  Emma Georgina Rothschild , a professor of history at Harvard, and an heiress to the Rothschilds’ family fortune, which is  estimated at $400 billion. © This is not the introduction that you would see in the latest interview of the 85-year-old Prof. S

Guest House for Young Widows: The Women of ISIS

Guest House for Young Widows: The Women of ISIS Asadeh Moaveni. Random House, $28 (330p) ISBN 978-0-399-17975-4 BUY THIS BOOK In this searing investigation, Moaveni, an Iranian-American journalist ( Honeymoon in Tehran ), explores the phenomenon of Muslim women—many of them educated, successful, and outwardly Westernized—choosing to travel to Syria in support of jihad. She follows 13 women and girls who were radicalized by news, by recruiters on social media, or within their social circles. Many of them naively dreamed of handsome warrior husbands, “camels trudging through a glowing vermilion sandstorm and Moorish palaces set against the moonlight.” In Syria, many found that “the militants [were] no better than the tyrants they claimed to oppose” and their new husbands, assigned immediately upon arrival by ISIS, were often alarming (some described as “swiping through phone apps for sex slaves”). The guest house of the title, which most women come to know well, since the men die so

Measuring Country Image: A New Model

The CPD Blog is intended to stimulate dialog among scholars and practitioners from around the world in the public diplomacy sphere. The opinions represented here are the authors' own and do not necessarily reflect CPD's views. For blogger guidelines, click  here. MEASURING COUNTRY IMAGE: A NEW MODEL Sep 16, 2016 by Alexander Buhmann The role of country images and knowledge of their constitution and effects is of major interest not only for scholars and professionals in the domain of public diplomacy, but also for various adjacent fields such as international relations, international marketing, or inter-group relations. As an antecedent of people’s behavior, country images influence: exports,foreign direct investment,the stability of international relations,the prosperity of national tourist industries,the attractiveness of domestic labor markets and education systems, andthe degree of a country’s political and economic influence in the international system. Under the c

Changing a mindset: Why the Jamat-e-Islami is teaching Telugu in Hyderabad's old city The rapid growth and urbanisation of the city over the last two decades has made it necessary for the people of old city to learn the language. Wajeed Ullah Khan   Saturday, October 05, 2019 - 12:15 Share @Whatsapp   Share @Facebook   Share @twitter   Share @reddit Aiming to popularise and change the perception of Telugu in Hyderabad's old city, which predominantly has Urdu speakers, the Jamat-e-Islami has been holding spoken Telugu classes for those who want to learn the regional language. Thanks to this initiative, several techies, students, youngsters and people from different age groups are now able to speak Telugu fluently. The classes are conducted in the Khilwat area in the heart of old city, by noted Telugu pandit MA Samad. Speaking to TNM, Yusuf Ali Khan of Jamat-e-Islami's Khilwat unit, who has been instrumental in conducting the classes, said that the idea came about as the youth of old city only spoke Urdu, and there was a need for them t