Dinesh Kamath's Editorial 'Ours is still a free country, Mr Shah!' that was published in Newsband

Ours is still a free country, Mr Shah!

In Amnesty video, the famous Bollywood actor Naseeruddin Shah said, “Walls of hatred are being erected in the name of religion in India and those who stand against this ‘injustice’ are being punished. Artistes, actors, scholars, poets are all being stifled. Journalists too are being silenced.”

He said that those who stood against this ‘injustice’ were having their offices raided, licences cancelled and bank accounts frozen to silence them so that they were deterred from speaking the truth.

“Is this where our country is headed? Had we dreamt of a country where there was no space for dissent, where only the rich and powerful are heard and where the poorest and most vulnerable are oppressed? Where there once was law, there is now only darkness,” he said in the video in Urdu.

But the very fact that he has been able to make such comments proves that what he says is not true. Far away from the limelight is not an easy life for an aging actor. Whatever is his opinion, he is free to express himself and that itself speaks volumes on the liberty of expression still existing in India.  

Those who don’t agree with Shah are asking him as to when innocent Hindus were killed by Muslim Terrorist in Mumbai why was he silent and that as far as terrorist who was awarded capital punishment is concerned, was it right for Shah to sign the letter of request for pardoning him to President?

It is true that everybody has the right to pursue their religion; the hateful killings of writers, poets activists are really cowardly acts. The Government should take action against the culprits. But such incidents are few as compared to incidents where the minorities have been given enormous freedom in India. How come then Shah is free to comment if there is so much censorship? He had his 20 minutes TV time. Ours is still a free country. Shah must admit it.

Dinesh Kamath's Editorial 'China’s successful mission to the moon' that was published in Newsband

China’s successful mission to the moon

China joined a select group of countries with successful missions to the moon. Chang’e-4 successfully made a landing at ‘10.26 on January 3’, at a spot on the moon’s far side, the Von Kármán crater. Chang’e-4 relayed a close-up image of the ‘far’ side of the moon through the communication relay satellite Queqiao.

The Chang’e-4 mission carries payloads, of which two are in collaboration with Germany and Sweden, respectively. The instruments include cameras, low-frequency radio spectrum analyser, lunar neutron and radiation dose detectors, and many more. The mission set up a radio telescope on the far side of the moon.

We know precious little about the moon. Its formation and early evolution present mysteries which if we come to know could guide us in planetary studies, and help in understanding exoplanets.

China has now joined the U.S. and the former USSR as the only countries to have made a “soft landing” on the moon. Beyond underlining China’s technological advances, Chang’e-4 could herald a new chapter in lunar exploration.

The scientific tasks of the Chang’e-4 mission include surveying the terrain and landforms, detecting the mineral composition and shallow lunar surface structure. This is a giant leap for cosmic exploration and a major boost to the Communist nation’s quest to become a space superpower. The pioneering achievement is another demonstration of China’s ambitions to be a space power. The country aims to land a crewed flight on the moon in the coming decade.

The US space agency NASA congratulated Chinese scientists on their success.  “As part of the international science community, we look forward to learning about this rather unexplored part of our Moon exploration,” said Thomas Zurbuchen, associate administrator for NASA’s Science Mission Directorate.

The robotic spacecraft is carrying instruments to analyse the unexplored region’s geology and will conduct biological experiments. The first-ever soft landing is being seen as a major milestone in space exploration because unlike previous moon missions that have landed on the Earth-facing side, this is the first time any craft has landed on the unexplored and rugged far side of the moon. This will fulfil scientists’ long-held aspiration to closely observe the enormous region,

The picture of the landing site marks the world’s first image taken on the moon’s far side. Direct communication with the far side of the moon, however, is not possible, which is one of the many challenges for the Chang’e-4 lunar probe mission. China launched a relay satellite, named Queqiao, in May, to set up a communication link between the Earth and Chang’e-4 lunar probe.

The Chang’e-4 mission will be a key step in revealing the moon’s mysterious side. The scientific tasks of the Chang’e-4 mission include low-frequency radio astronomical observation, surveying the terrain and landforms, detecting the mineral composition and shallow lunar surface structure, and measuring the neutron radiation and neutral atoms to study the environment on the far side of the moon. Chang’e 4 is the fourth lunar probe launched by China since the country’s lunar programme was opened in 2004.

The spacecraft is largely a clone of Chang’e-3, which landed on the moon in 2013. Named after the goddess of the moon in Chinese legends, the first Chang’e spacecraft was launched in 2007 to verify China’s lunar probe technology, obtain lunar images and perform scientific surveys. 

Dinesh Kamath's Editorial 'Why library for Afghanistan, Trump asks Modi' that was published in Newsband

Why library for Afghanistan, Trump asks Modi

U.S. President Donald Trump mocked PM Modi for funding a library in Afghanistan, suggesting it was of no use. In addition, he defended his push for the United States to invest less overseas.

India has committed $3 billion in assistance to Afghanistan since US-led forces toppled the extremist Taliban regime after the September 11, 2001 attacks. Projects have included the reconstruction of an elite high school in Kabul and scholarships to India for 1,000 Afghan students each year. In 2015, Modi promised to promote programs "empowering Afghan youth with modern education and professional skills."

India has been one of the most enthusiastic countries over the US mission in Afghanistan, where the former Taliban regime sheltered fiercely anti-Indian militants. But India's role has alarmed its arch-rival Pakistan, whose intelligence service's continued ties to extremists in Afghanistan has been seen by analysts in part as a way to counter New Delhi.

Trump last month moved to pull all 2,000 US troops out of Syria and cut by half the 14,000-strong force in Afghanistan, calling for less spending overseas. He also said that Russia used to be the Soviet Union but Afghanistan made it Russia because they went bankrupt fighting in Afghanistan.

Some Indians feel that India should invest in itself first before helping war ravaged countries like Afghanistan because if the Taliban return to power, they will destroy all of India's investment there.

As far as ‘library’ issue is concerned, Trump is probably not used to spending time in libraries. In making such statements he is not only mocking Modi but the Afghan people as well. Modi was cuddling up to the American President with remarks which imply how charitably disposed he is towards the Afghan people. Trump is a builder by profession. Libraries and books may be too subtle a gift for his sensibilities.

Building a library should not be an issue. The more you read the more you learn and the more you learn the more you contribute to mankind. A reader lives a thousand lives.

Afghanistan is a key strategic partner. India irrespective of whose party is in government should extend full support to this country to build a strong and lasting relationship. At the same time India should also be careful enough that the funds are properly utilized by the government of Afghanistan.

Trump is essentially a businessman. He might have thought of giving weapons to Afghans which he must be finding more beneficial than giving books.

Dinesh Kamath’s column ‘New movie released in Navi Mumbai’ (10 Nahi 40) that was published in Newsband

New movie released in Navi Mumbai

By Dinesh Kamath

10 Nahi 40

10 Nahi 40 is a film directed and written by Dr J. S. Randhawa. The film has Mridul Gupta as executive producer, Dr. Sonal Randhawa as producer, Aashi Singh as co-producer and Ranjan Singh as co-producer.

10 Nahi 40 is an educational film sending a message to the society to understand and care for the elderly. Know their insecurities and fears as they approach the twilight of their lives. Story begins from a residential society wherein both old and young people live. The main protagonist of the movie Sumit very often gets irritated and disturbed by the nagging behaviour of old people in his neighbourhood. Every now and then he keeps having arguments with them. On the other hand, his sister-in-law Aashi whom he loves a lot is involved always in the welfare and care of the elderly. The story gradually revolves around how Aashi leads him to change his attitude and they together decide to open a day care center for elderly.

The movie is based on the fact that in the fag end of life all that old people need is love and companionship. Loneliness, insecurity and unpredictability of life makes them bitter. The day care center provides them a platform for enjoyment and fun in each other's company.

The title of the film indicates that life is not to be counted by the years you lived or years that are left but by the years you lived happily and enjoyed. Throughout our lives we are busy making a living and actual time we enjoy and have fun is very little, the time we really lived. The 10 years that may be left for you to live will look like 40 if spent in mirth and enjoyment.

The movie sends out a message to the youngsters to be more understanding towards the elder people and to the older people; it emphasises that there is no retirement till you breathe your last. Life is beautiful and has to be lived with zest and zeal till the end.

The film has Birbal  as Birbal, Manmauji as Manmauji, Manoj Bakshi as Sinha, Ramesh Goyal as Ramesh Goyal, Ranjan Singh as Ronny, Dr. Rakhi Agarwal as Vibha, Sonal Mudgal as Sona, Radha, Dr. J.S. Randhawa as Sumit, Rahul Gautam as Rahul Gautam, Mahesh Gehlot      as Mahesh Gehlot, Rajendra Bhatia as Rajendra Bhatia, Mridul Gupta as Mridul Gupta and Aashi Singh as Aashi

The Music is by Vipul Kapoor.

Photograph of Editor of Newsband Dinesh Kamath clicked by Vijaykumar Kamble

Dinesh Kamath's Editorial 'Decline in banks’ (GNPA) ratio' that was published in Newsband

Decline in banks’ (GNPA) ratio

The Reserve Bank of India’s Financial Stability Report reveals that there has been decline in banks Gross Non-Performing Assets (GNPA). Still, state-owned banks continue to have higher levels of bad loans than their private sector peers.

The RBI’s Prompt Corrective Action (PCA) framework, attracted criticism. The RBI’s report has justifiably spotlighted the urgent need to tighten the oversight framework for financial conglomerates. Regulators and policymakers need to work together to insulate the economy from the risks of similar fiascos.

As we know that In the December 2018, Financial Stability Report, the RBI acknowledged the rising performance of banks as on September, 2018. This report shows that signs of improvement have been witnessed in terms of both credit growth and deposits. While that has been highlighted when the RBI's latest report reveals that the nightmares of lenders under PCA continue to haunt them.  The PCA framework was revised by the RBI with effect from April 1, 2017. State-run banks under the Reserve Bank’s Prompt Corrective Action framework sanction will benefit from the move, according to Kotak Institutional Equities. PCA helps to increase profitability of banks through reduction of NPA. Unless, now they earns profit of it and also risk lending to big borrowers as their liquidity is less because of high NPA. So Prompt Corrective Actions helps the bank to improve their business for the foreseeable future instead of hurting their operations.

Since the economic crisis, triggered by the collapse of Lehman Bros. in USA in 2008, it roiled global financial markets for weeks, given the size of the company and its status as a major player in the U.S. and internationally. There has been significant pressure to Banks from the European Central Bank and the World Bank to reduce the NPA burden. To sell a portfolio of NPAs, the banks negotiate with potential buyers in the form of Asset Reconstruction Companies. Further, for the Indian public sector Banks to receive capital under the recapitalisation programme of the Government, the Banks are required to provide a specific business plan for the next two or three years, especially in helping the priority sectors of the economy, and explain how they plan to deploy the capital, for the turnaround to profitability.

The Public Sector Banks have complex, outdated lending processes. Under pressure to improve speed, many processes are short-circuited giving room to loopholes that borrowers with malafide intent can exploit. The immediate need is to strengthen systems using technology and invest in training employees to use it properly. The expense incurred will be easily offset by the reduction in NPAs caused by malafide intent.

The RBI should have a special wing to randomly scrutinize the sanctions of loans by PSBs to check if any violations rules in the sanctioning of loans especially lending for companies, to check if loans given to any letter pad companies or to clients not qualifying to apply for a loan. If they do so the NPA among public sector banks can be minimized to a possible extent.

Banks can't give any loan to the poor people but they can easily afford the risks of NPAs as well as taking high risks of huge loans by giving someone. Banks are doing these things because of high returns from others but still they are facing a lot of fraud cases. Whether due to the election or any other cause, there should be no relaxation of credit discipline. The banking sector has been through a near death experience.

Dinesh Kamath's Editorial 'Fiscal deficit is a problem' that was published in Newsband

Fiscal deficit is a problem

The Centre’s fiscal deficit has overshot the full year’s budget estimate by as much as ₹92,349 crore. The deficit in the revised estimates for 2017-18 was 3.5% of GDP, wider than the 3.2% originally targeted. Worryingly growth-inducing capital spending is set on an underwhelming trajectory.

If there is a silver lining on the revenue front, it is the buoyancy seen in non-tax revenue, which surged more than 31%, putting the government comfortably on track to meet the budget estimate for a 3.9% increase. With the general election only a few months away, the government needs to avoid the temptation to open the spigot with an eye on the political benefits that it may see accruing.

The bigger challenge remains in finding ways to rustle up the requisite revenue to keep the deficit from slipping for a second year running. As the Reserve Bank never tires of cautioning, the onus is on the government to avoid further fiscal slippage as it could hurt the economy by crowding out vital private investment. This at a time when it has just been showing signs of a revival.

Pedestrian economic policies cannot take a nation forward. The fiscal deficit is a symptom of what went wrong. The nation needs rational scientific based economic policies. We had /have either a dynastic scions as leaders or now as the Hindu RSSvadis and caste and regional leaders dictating the terms. Our politics need a total break from its past and take an almost different direction and the leaders should not belong to the old club.

Whichever is the government at the centre fritter away huge amounts on irrelevant schemes, as if Public money were the property of the Party in power. All aspects of both Micro and Macro Economics are seen to be slipping away from proper control. The increase in the potentials for revenue growth is promising to check up the slippage in the fiscal deficit to higher number.The nearing election boom on expenditure will speak different story and tightening the belt on reducing the fiscal slippage is the order.

The trend of growth of tax revenue points to an economy that is sluggish. Apart from what this means for the fiscal deficit, that also has a bearing on the incumbent’s reelection prospects. After the general election, the government would feel the need to comprehensively review the country’s fiscal position. The states are as much stressed as the Centre. A combined fiscal deficit of 6.6% is preempting a lot of resources from productive private investment.