A question of who deceived who or a question of systemic failure in our culture and society

Recent Article by Bharat Jhunjhunwala on How banks are deceived by companies points towards a systemic failure in our culture and society in general. So the result is, a father son duo asking for a ₹ 5 Cr. loan is scrutinized to the hilt and even a single red flag is enough for rejection while a large corporate asking for a ₹ 5000 Cr. is scrutinized to a minimum and many red flags are overlooked

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Migrant workers in the Indian context, Should we still promote urbanization or opt for de-urbanization

Recent article published by affiliates of Aajeevika Bureau, a non-profit. in the Business Standard. seems to point out the issues at the surface (Migration) but fails to tackle the real issues and causes (Urbanization). Furthermore it believes that it is trying to solve a problem but in reality it is contributing to a bigger and longer (in time) problem that India currently faces.

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Finance in India: Business reforms or ? About Bank Mergers

As always, facts are being quoted and reported without evidence or investigations by various people groups and media. The government assumes that this will bring in efficiency and reduce dependence on both RBI and the government. Obviously the banking leaders are supporting the decision. Employees are against it citing some logic but everyone knows whats the real issue. Left as always is supporting them. Perhaps there are no independent academicians, researchers, economists or management experts in our country as they have not been quoted. No one cares or has the time to report on the hard facts.

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Power Utilities: Audit Efficiency both with respect to People and Processes, then consolidate

For a second just leave aside the issue of “electricity being a concurrent subject” and try to evaluate the possibilities of the pros and cons by auditing various aspects related to efficiencies on parameters like finance, processes, procurement, promotions, service delivery etc. etc. of state DISCOMS & GENCOS. Now after the audit consider consolidating these into only two entities at the national level like PGCIL & BSNL etc. but with better efficiency and productivity with respect to processes and people.

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Local mobile brands lose market share, What present mobile business can learn from an era gone by?

In order to enhance India’s domestic manufacturing capacity and build its export capacity, the Internet and Mobile Association of India (IAMAI) has called for an assessment of the impact of the phased manufacturing programme (PMP), which has seen limited success, causing local mobile phone brands to lose their market share.

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JPMorgan invested ₹85 cr. in an Amrapali Group company’s shares & later sold them for ₹ 140 cr. to an office boy?

The court on Tuesday ordered the federal anti-money laundering agency to investigate Amrapali, based in Noida, near New Delhi, for diverting funds overseas with the help of JPMorgan and others. The violations, based on a forensic audit, range from disregarding foreign investment norms, paying dividend without generating profits, setting up fake companies and overvaluing shares.

SELECT“JPMorgan invested ₹85 cr. in an Amrapali Group company’s shares & later sold them for ₹ 140 cr. to an office boy?”

Business is Risky: Secured lenders should have exited before insolvency occurred.

The case concerns the country’s most high-profile bankruptcy, Essar Steel India Ltd. Insolvency judges recently ruled that creditors whose claims are backed by collateral won’t get preferential treatment in the $6 billion sale of the company’s plant to ArcelorMittal. Secured creditors will stand in line with unsecured creditors.

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Payment guarantees for power purchase: DISCOM Efficiency

Minister of state for power and new renewable energy has approved the proposal to make it mandatory for distribution licensees to open and maintain adequate letter of credit as payment security mechanism under power purchase agreements. The order, applicable from August 1, will ensure curbing adding further to the outstanding bills of Rs 41,747 crore by distribution companies.

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The Indian Medical Association (IMA) is back at minting money

The Indian Medical Association (IMA) is back at it – endorsing commercial products. Except, this time they aren’t calling it endorsement. The new name is “certifying a claim that is health friendly”. And the IMA is refusing to divulge how much money has been given for this certification citing “non-disclosure agreements” with the companies whose products they have certified.

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Defining the nature of new world order

The neoliberal experiment has been a spectacular failure. Growth is lower than it was in the quarter-century after World War II, and most of it has accrued to the very top of the income scale. After decades of stagnant or even falling incomes for those below them, neoliberalism must be pronounced dead and buried. Vying to succeed it are at least three major political alternatives: far-right nationalism, center-left reform-ism, and the progressive left (with the center-right representing the neoliberal failure).

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Example of how sudden demonetisation ended black money enabled markets

Since all these market stakeholders relied heavily on unaccounted cash transactions and thus could make better profits while keeping their product prices lower than those who relied on cashless transactions and followed the law of the land. Furthermore,demonetisation induced this drop in turnover suggests that 25% of the market was funded by black money and contributed ₹4000 Cr. to the black economy.

The plywood industry’s annual turnover dropped from Rs 16,000 crore in 2016 to Rs 12,000 crore now. 350 plywood manufacturing units shut down , as did 500 units supplying raw material; production at more than 100 units was halved. He and his wife saved Rs 4,000, and he had few complaints.

https://www.business-standard.com/article/economy-policy/how-demonitisation-ended-golden-days-of-workers-in-india-s-plywood-capital-119052200148_1.html
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“We don’t verify and evaluate it” – MCA secretary Injeti Srinivas 🤣【Yes we know】

File KYC or will consider you inactive, govt tells firms. About 44% of the country’s over 11 lakh active companies have so far complied with the new know-your-company (KYC) norms mandated by the Ministry of Corporate Affairs (MCA). The companies which don’t comply with the KYC norms by June 15 will be presumed to be inactive and tagged as ‘non-complaint’ on the MCA 21 portal.

SELECT““We don’t verify and evaluate it” – MCA secretary Injeti Srinivas 🤣【Yes we know】”