Today's list is going to be short.
V Ananthanageswaran has started another series on banking problems. It is a must read as always. He lets the board off with some valid points. Though I won't do so. I think boards' approved ever-greening led to this lax control. If boards had called out ever-greening managements would not have let their guards down easily. Further, as with Nirav Modi case, it was difficult for boards to find out the specific scam. But generally scams are initiated by those with questionable financials. I believe if boards caught those, (a) the scam would not have been this big i.e. possibly these borrowers would be outed early AND (b) overall banking crisis may have been avoided.
[Note: Bank managements - not just junior officers, Finance Secretariat, RBI audit dept, all have to take the blame.]
This one is courtesy of Amol Agarwal who put up the link to this one. It sort of explains my position on the central bank cryptocurrency debate. I think we will have a e-currency soon. It may also be tokenized but it wont be crypto. I also think money (currently what is cash), claims (currently what is bank account money or electronic money) and their interchange will undergo dramatic change. Will write about it some day.
[Note: I am fan of blockchain technology but not of the current lot of cryptocurrencies. Also, as an aside, far too many application are going to use blockchain that do not need them. ]
This video below explains in detail a bit of history from 1G till 5G. Gives a perspective. Must watch for telecom analysts.
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