LESSONS FROM DISTANT PAST ?

In the epic story of RAMAYAN , following incidence is described :

After Sita's abduction by Ravana , Lord Rama invaded the isle of Lanka with his army

A fierce battle followed

At one point , when Ravana feared that he might lose the battle , he asked two of his ace warriors , Ahi-Ravana and Mahi-Ravana to go and fight Rama

When an arrow of Rama hit these brothers , hundreds of drops of blood would fall on the ground

But , horror of horror !

From each drop of blood, arose another clone of Ahi-Ravana / Mahi-Ravana !

So , a hundred drops of blood gave rise to another hundred demons !

And when Rama's arrows hit those hundred demons and shed ten thousand drops of blood , ten thousand demons got multiplied !

There was no way , Rama could win this battle

So , he asked Vibhishan ( pious brother of Ravana who had defected to Rama's side ) :

" Vibhishan, what is the secret behind this chain reaction ? "

Vibhishan replied :

" A wasp ( bumblebee ) delivers the Nectar from a Fountain of Immortality located in Pataal ( the nether world ) and sprays on each drop of blood of Ahi-Ravana / Mahi-Ravana, which gives birth to yet another clone "

Immediately , Rama dispatched Hanuman to go, destroy the wasp

That done , killing Ahi-Ravana / Mahi-Ravana was easy

Proud Indians will proclaim that here is the proof that we Indians invented the following :

*    Cloning through Stem Cell reproduction

*    Delivery using drones

*    Controlled Chain Reaction

*    3D Printing

*    Nano Technology

*    Mass Production of Living Organisms

*    Discovery of Anti-aging Genes / DNA

*    Viral Marketing

*    Anything else that you want to claim that West copied up from us  !

I am glad that our tech geeks setting up Start Ups don't buy this !

They are busy innovating things that help 200 million poor and jobless youth of India ( whose tribe is growing at 12 million per year ), to become self employed , in order to earn a honest living

Makes me wonder :

If those Rs 7 lakh*crores of NPA , were recovered , how many Start Ups can be helped ?

At Rs 1 lakh per Start Up , that would be 7 Crore Start Ups  !

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hemenparekh.in / blogs

16  March  2016

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Thanks , Shri Naidu !

A few days back , Parliament passed a bill to regulate the Real Estate Industry

On 04 Nov 2015 ,I sent to Shri Venkaiah Naidu ( mvnaidu@sansad.nic.in ) , an email containing following suggestions

Some of these have been incorporated in the new Act .

Thank you , Shri Naidu for listening !

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E-Delivery of Services to Construction Industry

Here is how :

*  All builders / developers must register on Municipal Web sites and obtain

   unique BUILDER REGISTRATION NUMBER

*  Builders must fill in online, on web site of concerned Municipality, a form :

    BUILDING  PERMIT  APPLICATION

*  Building Permit Application Form will have a STANDARD FORMAT , into

    which applicant will need to submit exhaustive details re the project

    This will include detailed Floor Plans and Structural Drawings , along with

    names / contact details of Architects / Structural Engineers etc

    The FORM will require slab-casting dates for each slab and the final

    completion date when builder will apply for Occupation Certificate

   

*  The Form will have a section called

    SELF   CERTIFICATION   /  DECLARATION

    Builder would be required to tick YES / NO against each item as shown :

    Does your proposed Building / Structure / Project , satisfy the criteria /

    notifications / regulations , issued by the concerned Ministries in respect

    of :

    #   Built-up Area........... ( YES ) / ( NO )

    #   Height Restriction

    #   Fire Fighting

    #   Water Harvesting

    #   Roof-top Solar Power

    #   Effluent Treatment

    #   Garbage Disposal

    #   Earthquake Resistant Structural Design..............etc

Clicking on each item will reveal the relevant " Notification / Regulation " issued by the concerned Ministry

To make the process absolutely fool-proof , the form will insist on an " Electronic Signature " of the applicant

DECLARATION / UNDERTAKING :

" I declare that I have read each and every notification / regulation , listed   in respect of items mentioned above

I further declare that I explicitly agree to abide by these regulations

I am aware that Occupation Certificate will not be granted if my completed project is found to be in violation of any of these notifications / regulations

I will not allow any person / entity to occupy any part of this premises , until and unless , Municipality issues to me , the Occupation Certificate

If Municipality finds any violations , I agree to rectify the same before applying for a fresh Occupation Certificate

If Municipality is not in a position to issue Occupation Certificate due to any

violations which simply cannot be rectified , then I will demolish the said building / project / structure  on my own and before such demolition , refund with interest , payments collected from the buyers

The plot of land is free from any encumbrances / litigations

I am not in default of any loans taken from any bank / individuals

I will not accept any payment in cash , nor make cash payments

I absolve the Municipal Corporation of any liability arising out of non completion of my project 

I agree that my Building Permit Application and my Registration Application details , be made accessible to public on your web site , along with full details of my past / current projects and full details of my balance sheet / bank borrowings  " 

GRANT OF APPROVALS BY MINISTRIES :

As soon as the builder submits the online BUILDING PERMIT APPLICATION , it automatically and instantly , appears on the web sites of ALL the concerned Ministries

The concerned officer of each Ministry , makes APPROVED / REJECTED entries in the application form , from the backend

If rejected , he will provide the reasons

Ministry officers are required to carry out this entry , within 24 hours

As soon as an officer of any Ministry makes entry and SUBMITS , the application forms on web sites of ALL Ministries and web site of the concerned Municipality , get updated simultaneously and instantly , making for MIRROR IMAGES at all times

As soon as any entry is made , a copy gets emailed to the applicant builder

Any " editing " of the application form by the builder , will start the entire process , all over

Applicant builder will be obliged to display the latest emailed form at the site

The database so created on web sites of ALL Ministries - and concerned Municipality - will be searchable State-wise / City-wise

CHANGES  IN  RELEVANT  LAWS :

To speed up any litigation between the parties concerned ( Builder / Buyers / Central & State Govts / Municipality / Bankers etc ) , existing laws may be changed

IMPORTANT :

Every application must be in the open domain and visible to anyone , online and transparently

There should be provision for any visitor of the web site to report any abuse / violation of regulations or any objection to the proposed construction

ADVANTAGES :

If such SELF CERTIFICATION process is implemented , it should be possible for India to beat Singapore , where getting 11 approval takes only 26 days !

It would be ZERO days in our case !

Now couple this with abolition of Corporate Income Tax for Construction Industry for the next 10 years and witness a MIRACLE

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hemenparekh.in / blogs

15  March  2016

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Make    Yourself    Heard

Dear Visitor :

It is time for YOU to speak up - and demand that YOU are heard

By emailing this suggestion - incorporating your OWN improvements - to the following Policy Makers

(  Just multiple copy all the following Email IDs into the Recipient column of your Outlook and Copy / paste this suggestion in the Message Box ) :

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Wilful Defaulters { and Wilful Lenders ? }

There are groups of Indian Companies who have borrowed from dozens of banks, thousands of crores of rupees

Total NPA ( Public Sector Banks plus Private Sector Banks ), exceed Rs 7 lakh*crores

{  A loan gets an NPA tag if an installment remains unpaid for 90 days  }

But not all loans to Indian borrowers have turned NPA , nor all borrowers declared " Wilful Defaulters " by RBI

Who is a " Wilful Defaulter " ?

*  A borrower who defaults in loan payment despite having capacity to pay

*  Funds have not been utilized for the purpose for which they were raised and have been diverted

*  While defaulting, the borrower has also disposed off fixed assets , immovable property given as security , without the bank's knowledge

  

Just two days back, SEBI also decided :

*  To bar companies which have been declared wilful defaulter ( along with their promoters and directors ) from accessing stock or bond markets for raising funds

*  To prohibit such defaulters from taking board position in any listed company

*  Wilful defaulters will also be barred from taking over another listed company

No doubt , in the days to come , many more stringent conditions will get added to bring down NPA / Wilful Defaulters

That may lead to lenders ( bankers ) getting " Over Cautious " and simply refuse to take legitimate business risks !

So , is it not  the time for the Banking System to self-regulate through

*   Refining  " Lending Criteria " ,  and

*   Defining " Wilful ( too accommodating ? ) Lenders "

Let there be no doubt that when those hundreds of " Wilful Defaulter " cases get thoroughly probed , many a " Skeletons in the Cupboard " , will come tumbling out !

Sadly , a witch-hunt seems inescapable  !

In the process , let us not forget that " Honest Decisions " must not be made to suffer !

If that happens , in future , no bank officer will want to stick out his neck for fear of it getting chopped off !

Before drawing up a definition of " Wilful  Lenders " , I strongly suggest that RBI debate the following questions :

*    Is there here , some confusion between a " Wrong " decision   and a " Dishonest " decision ?

 Don't millions of honest people continue to take decisions , which in hindsight , appear wrong ?

*    Isn't a " Dishonest " decision one which got taken , solely for the benefit of the decision-taker ( or his family / friends etc )  ?

*    Are we trying to replace honest human " Judgment " by some rigid , hide-bound rules ? by some computer algorithms ?

Economic progress depends upon banks lending money to industries / businesses

It is no different anywhere else in the World

But both, Shri Raghuram Rajan and Shri Arun Jaitley are worried about the pendulum swinging to the other extreme !  And rightly so !

A built-in mechanism for " Pre-Auditing " all loans , could help in balancing the interests of the borrowers and the lenders

At least , introduce some sort of " Self Certification / Declaration " by the concerned officer

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hemenparekh.in / blogs

14  March  2016

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OMG , let me protect you !

A Spanish proverb says :

" If you want to make God laugh , then tell him about your plans "

When I visited Akshardham Mandir ( Delhi ) on 10th March 2016 , I could hear Lord Swami-Narayana laugh  !

Why  ?

One lone soldier with a rifle was at its entrance , guarding a 100 acre complex , teeming with thousands of visitors

And the EXIT gate ( next to the ENTRANCE gate ) was wide open and totally unguarded , from where any number of terrorists can walk in , without any one so much as bothering to ask a question !

This , despite the fact that only a few days back , Government had issued a HIGH LEVEL ALERT for terrorist attacks on prominent religious places  !

Now , of course , we Indians firmly believe that

*   GOD is without a beginning , without an end and indestructible 

*   GOD does not reside at any one particular place ( Ayodhya included ), but pervades every atom in the entire universe

    

*   GOD protects us and not vice-versa !

Hence no surprise that Lord Swami-Narayana was laughing at the government plans to beef up security to protect HIM  !

But , what about the security of those thousands of visitors ( half of them foreigners visiting mega cultural event of Sri Sri Ravi Shankar , the next day ) ?

I am afraid the only thing we are good at is, appointing a committee " to look into the causes of the massacre " , after the event !

I request Shri Doval to make incognito visits of all of our major religious places !

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hemenparekh.in / blogs

13  March  2016

Let us Celebrate our New-Age Heroes !

When Suneet Tuli , first came up with Aakaash Tablet , 4 years back , he was ridiculed and was labeled " Foolhardy " !

It needed exceptional grit / courage / conviction on his part to totally silence his critiques , permanently !

With a claim of his Rs 10,000 / - bicycle-like device , pedaled for ONE HOUR , generating enough electricity to light up 12 bulbs of 100 Watts each for 24 HOURS , it is likely that Manoj Bahargav will face similar ridicule !

It is high time , we Indians learn to " respect and encourage " the experimenters and the dreamers among us , who are thinking of ways to lift 400 million out of abject poverty

We Indians need to shed our " Paralysis of Inaction " and cultivate a strong " Bias for Action " , all the while remembering that it took Thomas Alva Edison , more than 1400 trials with different materials , before giving to the World , the Incandescent Lamp  !

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hemenparekh.in / blogs

13  March  2016

NPA ? or is it NPB ?

NPA = Non Performing Assets ( bank loans not being repaid )

NPB = Non Performing Bankers  ( bank officers not being prosecuted )

Recently , Supreme Court asked RBI for a list of entities , who are defaulting on loans of Rs 500 Crores or more

Suddenly , a few banks started publishing  lists of their own loan defaulters

What is the big deal ?

Several thousand Cooperative Housing Societies in Mumbai , have been , routinely publishing on their Notice Boards ( equivalent to the web sites of the banks ? ), names of society-members who have failed to pay their monthly society charges ( includes Municipal Property Tax ) - including cumulative arrears

They have been doing so for years . I don't know if Model Standing Orders or Cooperative Society Act requires this

But no member seems to object this act of " Name to Shame " !

What has prevented banks from routinely declaring on their web sites :

*  Complete list of all loan-takers ( Companies/ Individuals/ Trusts / NGOs etc  )

*  Full details of loans ( amount / duration / interest rate / collaterals / repayment schedule / sureties etc  )

*  Names of bank officers who scrutinized and sanctioned loans

*  Cumulative arrears ( shown graphically )

*  Other entities ( including other Companies / Individuals ) inter-connected with the defaulters

*  Details of Notices sent / Court cases filed / Recoveries made / Blacklisting done , etc

After all , most banks have PUBLIC as shareholders and therefore , need to be covered under RTI Act

If a bank is owned ( partially or totally ) by any government ( Central or State ) , it is covered under RTI

So , why this secrecy ? Why this dragging of feet to take prompt action against defaulters ?

I recently heard of a Cooperative Housing Society in Hyderabad which has solved the problem of members defaulting on payment of society charges

In members' flats , Society has installed ELECTRONIC DIGITAL PREPAYMENT METERS

On 1st of each month, a member must key-in the amount ( of Society charges ) in the Meter and authorize deduction from his bank account ( like Mobile Wallet , in collaboration with many banks concerned )

Failure to do so will immediately result in automatic cutting off the electricity and water supply to that flat !

I suppose Andhra / Telengana State Cooperative Society Act permits this. Why progressive Maharashtra does not ?

It is no Rocket Science to extend the application of this  SIMPLE TECHNOLOGY  to bank loan defaulters !

By automatic freezing of personal bank accounts of ALL those who signed the loan document ( takers & givers ) , the moment any repayment installment becomes overdue by ONE DAY ?

And automatic / instant revoking of PASSPORT , without having to approach Supreme Court  ?

I hope RBI governor , Shri Raghuram Rajan , gets to read my blog and floats a Request for Proposal to Infosys / Wipro / TCS etc

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hemenparekh.in / blogs

09  March  2016

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Make    Yourself    Heard

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It is time for YOU to speak up - and demand that YOU are heard

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