Archive | June, 2016
Quote 30 Jun

“Be of good cheer. Do not think of today’s failures, but of the success that may come tomorrow. You have set yourselves a difficult task, but you will succeed if you persevere; and you will find a joy in overcoming obstacles. Remember, no effort that we make to attain something beautiful is ever lost.”

―  Helen Keller

I wish to share this message in these tumultuous times of another bombing, insular politics and personal struggles. We must not forsake good and persevere. I often believe good needs a muscle.

Have a good day dear friends!  Apologies for breaks, sometimes have to make a herculean human effort to stich it all together, we all have our own challenges right friends, will post soon.

Love, Suresh


The baby

25 Jun

She has a sparkling smile

Her laughter starts  with” Heee haww”

She can recognise a ” clock”

She has a ” butterfly”

She has a “book”

She has ” Lego ” box

She can comb your hair

she can walk faster than you

She is only year and three months

The only child in my family

My sister’s child Ruve

Our vacation day is when she visits

She makes us all happy

” Heee haawww” she goes…..

A baby makes a house happy my friend had told me, my sister makes us happy, now we have a baby. There is nothing like a baby and my mother is happy. My brother has found a soul.

This for today met a friend in morning  for a cup of Tea and spent whole day playing with the baby.  Happy day! Good weekend!

Goodnight dear friends! We sometimes seek  two much meaning and child is just an expression of unbounded joy, may be that’s what life is meant to be..

6am happy, 7am happy, 8am happy….

Hope you have a good day!

Love, Suresh



The Fruit seller

24 Jun

She is a fruit seller

She has the best fruits

Apples, citrus limon ( sweet lemon), bananas

A  hard working woman who rides on quality

She has the gait and resembles a Indian Mary pierce

Excellent and  of confident disposition

She calls me brother

I wish to be like her

Then whatever must be..

Must be good…

This is my fruit seller. She always sells good stuff. She is always confident. She never compromises on quality and price. It is my lesson in excellence.

Goodnight dear friends. So never compromise on quality and excellence.

Hope you have a good day!

Love, Suresh


The hospital

23 Jun

I visit the hospital on a saturday with my mother to meet her consultants. This time had to schedule her tests on saturday and visited hospital on Tuesday. I have been going to hospital with my mother for almost 25 years. We have changed few hospital’s over the years. The latest is one close to my sister’s place. I guess that was the qualification. In a moment of weakness my mother says” I guess this doctor is also not good. I don’t like his medicines. I am thinking of going back to earlier hospital.” I keep quiet.

Over the years have realised two things are important  – look for a conscientious and responsible doctor and keep your curiosity alive. I never tell them what do for a living. Only once my brother’s doctor had asked me in Bangalore” What do you do? ” That was only in context of what can do for my brother. That was ten years ago. Nobody asked ever since  and me never tell . My mother though has told one consultant ” He does not get married. That’s my concern”. This time also a consultant asked me ” Is she anxious” . I had replied with head down ” She is worried about her children.” The consultant is very sweet, she always tells me ” Take care”. I smile and wave in return.

She also reminds me of a earlier lady consultant who though would avoid looking me  in the eye and show a thumbs up to my mother..

This time met four consultants in a day  – Diabetologist, A general physician , Cardiologist and skin specialist.  I am trying to describe trail of diagnosis in a day. My mother complains of lack of taste to her diabetologist, he suggests a examination with a general physician who suspiciously looks like a rat and quickly hands me a diagnosis. I ask him what is this. He tells me a latin phrase. I repeat. He says the same. I think ” Iam a rat o fibrosis.” Iam not convinced years of curiosity and hospital visits have honed my instincts. As talk to my mother . I see the rat ask the receptionist ” Kay ga tu dabba nahin aanli” ( You did not get your lunch). I  silently laugh at his diagnosis. May be I should cry at the consulting fees that paid him..

Luckliy tell my mother. We should meet the cardiologist. We have his appointment for July . We have done all tests. Let’s meet him. My mother agrees. The cardiologist is very good. Very conscientious and dedicated. I like him. I tell him the diabetologist refered to another doctor( rat) for a infection. The cardiologist shows a bit of anger and tells me you should show your mother to a skin specialist. This could be a offshoot of skin infection . Before going with earlier prescriptions. He insists. I understand the value of specialisation. I quickly agree. I meet the skin specialist .She is very sure it is a skin infection and gives my mother a mouth gel and paste. Also tells me ” You know  he ( possibly rat) tries to treat everything, outside his specialisation..”  I ask her, should i throw away earlier prescription, she says ” absolutely”. I leave relieved.

Moral of the story always choose a conscientious consultant. Every body who dresses well, has a degree and is intellectually detached is not a good doctor.

Also one more thing, if you feel some one is a rat, chances are he is a rat 🙂

Goodnight dear friends!

Hope you have a good day!

Love, Suresh

Dr. Raghuram G. Rajan’ post Policy interview with Barkha Dutt

21 Jun

”  I think, you can’t do better than  (you know) work really hard on trying to understand the circumstances in which you are making decisions, and this is hard work, it’s not glamour, it’s going through the various reports,going through the data, then coming up with a judgement as to : here are the costs ” If I take this action”, here are the costs “if I take that action”, where are the costs low, where are the benefits higher, some of it not so clear cut, its amorphous, but you make that decision, ultimately  when people give you advise whether its you know from government or from industry or from else where, you certainly  listen to it, but they also rely on you to be the guardian of good judgement in some sense: so you should not succumb to wishes to any party, ultimately they will not thank you for that” they want you you to make that decison..”

― Dr. Raghuram G. Rajan’ post Policy interview with  Barkha Dutt, NDTV

I think Dr. Rajan is talking about professional merit. He has it in tons. But the government wanted more than that.

Barkha does great interviews and this is a great interview with Dr. Raghuram Rajan.  She substantiates this interview with a persuasive piece and writes  ” Had he been either prosaic or pliable his second term would have been a sure shot. As only the second Governor since 1991 to not get the customary five years, the message that the Modi government has sent is that there is no space for public intellectuals who are independent-minded; the Sarkar will never let you forget that you are expected to be a supplicant. This is why you hear the orchestrated whispers that Rajan went beyond his remit.”

For more :

As for what world has to say :

“Mr Rajan — a former International Monetary Fund chief economist widely known for his prescient, forthright warnings of the 2008-09 global financial crisis — has been seen in an almost heroic light for his assured handling of India’s  macro economy , including persistently high inflation and his tackling of its bad debt problem.

But Mr Rajan’s larger-than-life image, his plain speaking and his willingness to tackle tough issues head on may well have cost him his job  .”

For more:

I have mentioned this before and feel this goverment has operationally been better than its predecessor. It has a handsome mandate. But It’s self congratulatory.

A point about Subramanian Swamy, award him as much as possible for unearthing those scams in UPA, give him the honors….but what a waste of talent ” If you just make a career of  making  allegations and court cases..”. What’s the point…

One of my pet peeves has been no body supports a good person….

Dr. Raghuram Rajan has been a outstanding central bank governor.

Please do see the interview.

Have a good day dear friends!

Love, Suresh



Raghuram G. Rajan

20 Jun

” Dear Colleagues,

I took office in September 2013 as the 23rd Governor of the Reserve Bank of India. At that time, the currency was plunging daily, inflation was high, and growth was weak. India was then deemed one of the “Fragile Five”. In my opening statement as Governor, I laid out an agenda for action that I had discussed with you, including a new monetary framework that focused on bringing inflation down, raising of Foreign Currency Non-Resident (B) deposits to bolster our foreign exchange reserves, transparent licensing of new universal and niche banks by committees of unimpeachable integrity, creating new institutions such as the Bharat Bill Payment System and the Trade Receivables Exchange, expanding payments to all via mobile phones, and developing a large loan data base to better map and resolve the extent of system-wide distress. By implementing these measures, I said we would “build a bridge to the future, over the stormy waves produced by global financial markets”.

Today, I feel proud that we at the Reserve Bank have delivered on all these proposals. A new inflation-focused framework is in place that has helped halve inflation and allowed savers to earn positive real interest rates on deposits after a long time. We have also been able to cut interest rates by 150 basis points after raising them initially. This has reduced the nominal interest rate the government has to pay even while lengthening maturities it can issue – the government has been able to issue a 40 year bond for the first time. Finally, the currency stabilized after our actions, and our foreign exchange reserves are at a record high, even after we have fully provided for the outflow of foreign currency deposits we secured in 2013. Today, we are the fastest growing large economy in the world, having long exited the ranks of the Fragile Five.

We have done far more than was laid out in that initial statement, including helping the government reform the process of appointing Public Sector Bank management through the creation of the Bank Board Bureau (based on the recommendation of the RBI-appointed Nayak Committee), creating a whole set of new structures to allow banks to recover payments from failing projects, and forcing timely bank recognition of their unacknowledged bad debts and provisioning under the Asset Quality Review (AQR). We have worked on an enabling framework for National Payments Corporation of India to roll out the Universal Payment Interface, which will soon revolutionize mobile to mobile payments in the country. Internally, the RBI has gone through a restructuring and streamlining, designed and driven by our own senior staff. We are strengthening the specialization and skills of our employees so that they are second to none in the world. In everything we have done, we have been guided by the eminent public citizens on our Board such as Padma Vibhushan Dr. Anil Kakodkar, former Chairman of the Atomic Energy Commission and Padma Bhushan and Magsaysay award winner Ela Bhatt of the Self Employed Women’s Association. The integrity and capability of our people, and the transparency of our actions, is unparalleled, and I am proud to be a part of such a fine organization.

I am an academic and I have always made it clear that my ultimate home is in the realm of ideas. The approaching end of my three year term, and of my leave at the University of Chicago, was therefore a good time to reflect on how much we had accomplished. While all of what we laid out on that first day is done, two subsequent developments are yet to be completed. Inflation is in the target zone, but the monetary policy committee that will set policy has yet to be formed. Moreover, the bank clean up initiated under the Asset Quality Review, having already brought more credibility to bank balance sheets, is still ongoing. International developments also pose some risks in the short term.

While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016.  I will, of course, always be available to serve my country when needed.

Colleagues, we have worked with the government over the last three years to create a platform of macroeconomic and institutional stability. I am sure the work we have done will enable us to ride out imminent sources of market volatility like the threat of Brexit. We have made adequate preparations for the repayment of Foreign Currency Non-Resident (B) deposits and their outflow, managed properly, should largely be a non-event. Morale at the Bank is high because of your accomplishments.  I am sure the reforms the government is undertaking, together with what will be done by you and other regulators, will build on this platform and reflect in greater job growth and prosperity for our people in the years to come. I am confident my successor will take us to new heights with your help. I will still be working with you for the next couple of months, but let me thank all of you in the RBI family in advance for your dedicated work and unflinching support. It has been a fantastic journey together!

With gratitude

Yours sincerely

Raghuram G. Rajan ”

Source :

I want to start with a confession in all my life never has a Central Bank Governor in India gained so much attention and for good reason. His performance has been exemplary more than that his courage to stand for autonomy of ideas and tolerance has been refreshing. As a student of life, one thought C. Rangarajan was perhaps India’s best Central Bank Governor. Raghuram Rajan has the same distinction. If a professional economist leaves a mark on public life. It’s remarkable. Ever since GFC ( Global Financial crisis) the role of central bank governors has been most important piece of economic policy. Infact many of the nations showed a modicum of growth only because of central bank governors intervention worldwide.  Central Bank Governors are very important. Raghuram Rajan as Governor of Reserve Bank of India has been a outstanding central bank governor. And a fine public intellectual. Remarkable man.

” We are losing one of the most skillful financial economic thinkers in the world. It is sad for the country and it is sad for the government of the country too. .” Said Nobel Laureate Amartya Sen. For more ”

I wish to share some ideas from a speech Governor Rajan made at National Institute of Bank Management Pune on April 20,2016:

A teachable moment

“To get to the experience, start first with where India is. India is the fastest growing large country in the world, though with manufacturing capacity utilisation low at 70% and agricultural growth slow following two bad monsoons, our potential is undoubtedly higher.

Growth, however, is just one measure of performance. The level of per capita GDP [Gross Domestic Product] is also important. We are still one of the poorest large countries in the world on a per capita basis, and have a long way to go before we reasonably address the concerns of each one of our citizens. We are often compared with China. But the Chinese economy, which was smaller than ours in the 1960s, is now five times our size at market exchange rates. The average Chinese citizen is over four times richer than the average Indian. The sobering thought is we have a long way to go before we can claim we have arrived.

As a central banker who has to be pragmatic, I cannot get euphoric if India is the fastest growing large economy. Our current growth certainly reflects the hard work of the government and the people of the country, but we have to repeat this performance for the next 20 years before we can give every Indian a decent livelihood. This is not to disparage what has, and is, been done. The central and state governments have been creating a platform for strong and sustainable growth, and I am confident the payoffs are on their way, but until we have stayed on this path for some time, I remain cautious.

We must remember that our international reputation is of a country with great promise, which has under-delivered in the past. This is why we are still the poorest country on a per capita basis among the BRICS [Brazil, Russia, India, China and South Africa]. We need to change perceptions by delivering steadily on our promise for a long time – by implementing, implementing, and implementing. We cannot get carried away by our current superiority in growth, for as soon as we believe in our own superiority and start distributing future wealth as if we already have it, we stop doing all that is required to continue growing. This movie has played too many times in India’s past for us to not know how it ends.”

Career advice

“But here is my promised career advice. Most of us are ambitious and have career goals in mind. We think we will be happy if we are successful – become CEO of a major multinational corporation; win the Nobel prize; become a mega movie star, and so on. And to achieve these goals we sometimes take jobs we dislike for we think the pain will be worth the eventual gain.

When we reason like this, I believe we have causality backwards. You are rarely happy simply because you are successful, but you are much more likely to be successful if you are happy, doing work you enjoy. Indeed, there are careful studies suggesting this. So when you choose what to do, don’t focus on the end point. Instead, focus on whether you like the work itself. Not only will you be more likely to reach your goal, even if you don’t arrive at that end point, you will have had a joyful life.”


Think about this dear friends! If you do your work remarkably and give people something to think about. What more can one do…

A very Remarkable Raghuram G. Rajan. A Fine fine central bank governor, professor and public intellectual!

Hope you have a good day dear friends! Apologies for being away have been with my mother and working. Iam not sleeping well, must do something..

Love, Suresh



Hardwork ―Saina Nehwal & Mary Barra

16 Jun

” I was not a talented sportsperson in my childhood. So, I always depended and still depend more on hard work.”

― Saina Nehwal, Indian Badminton player, Former World No.1 in singles..

This is what she had to say as she just won Australian open. Saina is a Olympic bronze, World championship silver, three super series premier and seven super series title winner. I have immense admiration for Saina Nehwal. I played badminton as a child. My uncle had coached me. I had seen a NDTV interview which had snippets of her life and training. Her training starts at 6am. It’s every day, day in and day out hardwork and dedication that has made her a Top shuttler. I think at 6am most of us are ” No, I don’t want to get up, Iam lazy..” She further goes on to repeat the same thing in another interview “I am aware that I need to be tactically better against these kinds of world-class players. Right from my childhood I was never talented, but worked really hard,”

For more:

We should all be like Saina Nehwal.

” If you truly want to “change the world,” you need more than talent.  You also need to do the work… because hard work beats talent, if talent doesn’t work hard. Education will open doors. Talent will open worlds.  But it is hard work that will enable you to accomplish more than you ever imagined.”

―  Mary Barra, CEO General Motors company

I was thinking yesterday about education and talent. It is  true education opens door, it cut’s the initial struggle and puts you in a good place, talent does open the world,  Opportunity knocks because people see talent, but its mostly hardwork which decides your station..

Mary Barra says in a Stanford Graduate Business school talk ” My parents grew up during the Great Depression.  My Mom grew up on a farm in Northern Michigan.  My dad grew up in an iron-mining area of upper Minnesota. They didn’t have many advantages.  They each had only high school degrees.  But they believed in the American Dream, and they worked hard to achieve it. They taught my brother and me that there is no substitute for hard work.”. I love this message.

For more:

We should all be like Mary Barra.

I read this both yesterday. I have surrendered myself to the one above and hard work. I also realised whatever little have is because of father. I just added grit. He would have approved of me. His and my teachers approval is all that mattered to me. My friends are kind.

My  doctor friends  had taught me hardwork  early in my life.  They had 48 hour schedules. I also spent lot of time in hospitals. I always admired their dedication and work rate.

I imbibed it. I hope it works out for me. We must always do our best.

Have a good day dear firends!

Love, Suresh