Saturday, November 3, 2012
Sunday, June 19, 2011
Photographs lead to more than just memories
The shots well clicked create the memories that stick!
There are some that you come back to over and again and they still manage to get that little smile on your face, the twinkle in the eye, the softness in the heart or make you feel groovy.
And every time you revisit them, you notice something new. Not only do they let you relive the fantastic moment you were a part of, you realize a new emotion, a nuance of the relationship that is hidden on the surface. Stare on it for that extra bit, think hard about it. The deeper meaning it conveys is much more satisfying.
So when the photograph of a kid far away in Africa has the power to move you, even when you don't know him but feel towards him emotionally, think how much stronger will be the touch of the ones close to you. I'm fortunate to have captured some such moments recently. These are my fuel for the day, my drive and hope for a bright future. Because its for those smiles and the moments of joy that you are willing to sacrifice anything.
To me my family means the most for I know they will be ones who believe in me no matter what. They will be the ones who will stand by me whenever I call it quits, in search for a brighter tomorrow. They will be the ones who will scold me but still love me even if I do wrong. They are the ones who would never make me an option but will always keep me their priority.
A few moments I share here. I'll come back with more. Every picture tells a story. The shots well clicked create the memories that stick!
HAPPINESS - The fortunate ones
SATISFACTION - The one who sacrifices the most so that yours is a bed of roses, even if his has thorns
EMOTIONAL - The one who blesses
LOVE - The nurturer, who teaches you how to love and care and to her, nothing matters more than you
Monday, April 6, 2009
Three important lessons to be learnt from the current financial crisis
I was listening to a speech by : THARMAN Shanmugaratnam, The Finance Minister of Singapore a few days back and he talked about the three lessons to be learnt from the current financial crisis. Here is how they go.
1. Focus on Core Expertise:
First, insurers should focus on their core areas of expertise. This is perhaps one of the clear lessons from the AIG crisis. AIG's problems came about as a result of its significant venture into credit derivatives and other structured finance activities which were not within its core insurance activities. It earned high returns, but they came with much higher risks than it knew and that it was capable of managing. As we all know, its financial products arm eventually incurred significant losses as a result of these activities, threatening the solvency of the entire group. Fortunately, in Singapore, AIG's insurance arms, AIA and American Home Assurance, have limited exposure to the deterioration in global credit markets and continue to meet all regulatory requirements. The broader lesson is about sticking to what you know, and to manage the risks of your core business. While insurers are in the business of taking risk, their expertise lie in underwriting event risks. They have built up expertise and many years of data to model risks from natural catastrophes, accidents and mortality. Life insurers manage both mortality as well as longevity risks. In addition, they invest in a wide range of assets in order to generate the returns needed to meet the expected payouts from the products they sell. Managing investment risks is therefore a key task in any life insurer's operations. In particular, given the long-term nature of their liabilities, life insurers should ensure that their investment portfolios are sufficiently well diversified with a long-term focus in order to weather short-term market volatilities. It would not be prudent for life insurers to enter into high risk activities that could yield high returns in the short-term but threaten their long-term viability.
2. Reliance on Mathematic Models:
The last few years have seen a tremendous increase in reliance by financial institutions on mathematical models, for making investment decisions. Whether it be options, futures, swaps, no room has been left for basic common sense and analysis to come in and assess the situtation or the deal. The bankers rely on mathematical model predictions and base their decisions on it.
These mathematical models are systems trained on the market trends and scenarios in the last few years and keep upgrading themselves on the basis of the developing market trends. The intelligent onces also have a log of what started the last few financial crisis and can be helpful in preventing those. But what should be realized is that, no matter how well trained and robust these systems are, they can never predict the future accurately or even get close to it when its required the most. Each financial crisis has origniated because of a different reason and has had different consequences. So, the mathematical models cant be a good indicator of a future downturn or what could turn out to be a toxic investment business. It is the human mind which can analyse any situtation best and predict the future, the best anyone/anything can. So, it should be put to judicious use. Rather than going following the predicted flow blindly, we should be stopping and asking questions like "Should this be happening?" "What will this lead to?"
3. Outsorucing risk management and credit rating agencies:
Perhaps outsourcing doesnot work well in all sectors.
Institutions not only outsource the technology management/maintainance, customer helpline but also their risk management and assesment tasks. Insitutions often dont focus much on internal assesment by rely on external credit rating agencies to tell them how good their credit rating is. It goes without saying how important Risk Management is. It should be the foremost focus of any operating business rather than being considered as a back office and a burden on the company.
1. Focus on Core Expertise:
First, insurers should focus on their core areas of expertise. This is perhaps one of the clear lessons from the AIG crisis. AIG's problems came about as a result of its significant venture into credit derivatives and other structured finance activities which were not within its core insurance activities. It earned high returns, but they came with much higher risks than it knew and that it was capable of managing. As we all know, its financial products arm eventually incurred significant losses as a result of these activities, threatening the solvency of the entire group. Fortunately, in Singapore, AIG's insurance arms, AIA and American Home Assurance, have limited exposure to the deterioration in global credit markets and continue to meet all regulatory requirements. The broader lesson is about sticking to what you know, and to manage the risks of your core business. While insurers are in the business of taking risk, their expertise lie in underwriting event risks. They have built up expertise and many years of data to model risks from natural catastrophes, accidents and mortality. Life insurers manage both mortality as well as longevity risks. In addition, they invest in a wide range of assets in order to generate the returns needed to meet the expected payouts from the products they sell. Managing investment risks is therefore a key task in any life insurer's operations. In particular, given the long-term nature of their liabilities, life insurers should ensure that their investment portfolios are sufficiently well diversified with a long-term focus in order to weather short-term market volatilities. It would not be prudent for life insurers to enter into high risk activities that could yield high returns in the short-term but threaten their long-term viability.
2. Reliance on Mathematic Models:
The last few years have seen a tremendous increase in reliance by financial institutions on mathematical models, for making investment decisions. Whether it be options, futures, swaps, no room has been left for basic common sense and analysis to come in and assess the situtation or the deal. The bankers rely on mathematical model predictions and base their decisions on it.
These mathematical models are systems trained on the market trends and scenarios in the last few years and keep upgrading themselves on the basis of the developing market trends. The intelligent onces also have a log of what started the last few financial crisis and can be helpful in preventing those. But what should be realized is that, no matter how well trained and robust these systems are, they can never predict the future accurately or even get close to it when its required the most. Each financial crisis has origniated because of a different reason and has had different consequences. So, the mathematical models cant be a good indicator of a future downturn or what could turn out to be a toxic investment business. It is the human mind which can analyse any situtation best and predict the future, the best anyone/anything can. So, it should be put to judicious use. Rather than going following the predicted flow blindly, we should be stopping and asking questions like "Should this be happening?" "What will this lead to?"
3. Outsorucing risk management and credit rating agencies:
Perhaps outsourcing doesnot work well in all sectors.
Institutions not only outsource the technology management/maintainance, customer helpline but also their risk management and assesment tasks. Insitutions often dont focus much on internal assesment by rely on external credit rating agencies to tell them how good their credit rating is. It goes without saying how important Risk Management is. It should be the foremost focus of any operating business rather than being considered as a back office and a burden on the company.
Thursday, April 2, 2009
A lead up to the Indian Lok Sabha Elections 2009
For anyone who is as interested as me in the future of my country, it is a significant question as to who should be voted into power to run India, the largest democracy in the world, a country which is proud to be a Sovereign Socialist Secular Democratic Republic.
Before I get into the crux of the issue, lets discredit the Left, BSP and the so called third front first. These are the very people who have and will work all their life against the welfare of the same community that shows faith and elects them to top positions.
Just a line on the two of them though,
Left on one hand are Commies who have always stood against any policy that the UPA tried to push through in the current term. Be it the Nuclear Deal, Banking Insurance, etc. All they want to show is their importance and come into lime-light.
Mayawati, the BSP Supremo. My heart cries with fear of her becoming the next prime-minister. What we can be sure of are three things: 1) The play grounds for schools will be converted to Ambedkar Parks. 2) The history lessons for our kids will talk only about Kashi Ram 3) Oh yes, how can you ignore the possibility of her statue right outside your home?
I can continue bashing the two above, but that is no serious talk.
The crux for me lies in between choosing BJP or Congress and in the end Congress was an easy choice for me. Let me reason out why.
There are 5 main agendas that can summarize what BJP has stood for and will always stand for:
1. A Universal Civil Code
By this, the BJP wants to have the same set of rules governing Hindus, Muslims and other religions in India. On the cover, it sounds a nice and reasonable idea. But in reality, it will lead to
A) Chaos and Disorder: Who decides now whether INDIANS now can marry a maximum of one or 4 times? Whosoever will now have to "change", will ofcourse retaliate and rightly so. Because Quran says that Muslims can marry 4 times, so is this not a partial forced religious conversion then? (Haha, nothing new for BJP)
B) A UCC overwrites the Hindu Marriage Act and Hindu Undivided Family act: The sole purpose of this was to protect the poor women in India from being cheated by their husbands. What will happen to them now?
2. Demolition of Babri Masjid
Needless to say, it widens the divide between Hindus and Muslims. Such communal differences are the root cause of all the hatred and the riots/blasts that follow.
3. Privatization to the extreme
Had BJP been successful to do so, our situtation in the current financial crisis would have been far worse than US. Its only because of government presence in Insurance, Banking, Telecom, Minerals that we have seen off the current storm well. With the reins in the hands of government, the checks and balances are high. There is lesser greed and this prevents haste decisions, the root cause of the financial melt down.
4. Ban Cow Eating
Remember one thing, Muslims are not immigrants in India. They have been been an integral part of India since Independence. What we can do is to impose restrictions on ourselves as we consider it sacred. But we cant force others to follow the same.
Undeniably, during its rule at the centre, BJP did initiate the Golden Quadrilateral Project and fund infrastructural development, But their negativities far outweigh the positives. Unfortunately, no party in India is the one that can be looked upto without a hinged though . What we have to choose is the best from the posibilities.
I feel Congress surely makes for a better choice.
A party of policy makers, Congress has initiated many policies in India in the last 5 years. They are the ones who strike the right balance between leniency and being nationlists and so, to run a country like India which has different cultural and religious sects at its core, we need a party that takes action against the worng doers but at the same time, doesnot sound the war bugle on every incident.
The aam-aadmi talk is not just for filling up the vote banks. They have done a lot for inluding the poor into main stream. And its completely right to focus on it. In a world where we talk about Inclusive Capitalism the governments cant stay behind and ignore the poor. This is needed not only for the welfare and upliftment of the poor, but also for the success of our nation.
But lets look at what Congress has done for India. I would not talk about the past policies in 1990's which were the reason for India becoming an open market and so much foreign direct investment in India. But of the current policies, following are the ones that impress me the most.
1. National Rural Employment Guarantee Scheme
A congress flag ship programme in the current term. Under this, the people below the poverty line are guaranteed a minimum employment of 100 days in an year and unemployment wages if they donont get a job within 15 days of registering with the government.
2. Mid-day meal Schemes
There are these and other schemes by which children going to school get free meal. (Unfortunately, courruption is a parasite living in India and some of these plans dont come through efficiently)
3. Nuclear Deal
What developing India needs more than anything to keep up the growth rate is electricity and power to run the factories, manufacturing units, etc. This deal comes as a huge respite as it will tremendously increase power generation in India and reduce out dependence on the sources which are expensive, highly price elastic and are currently insufficient.
4. The government was recently praised by IMF and WorldBank for its well though response to the current financial crisis. India has largely remain insulated from the meltdown ( in terms of failing financial institutions) due to the checks and balances that were put in place by the government to regulate the financial market.
5. From 2004-2008, India's GDP has grown at a rate of 8.6% It was above 9% for the major part but has fallen to 8.6% from spetember 2008. This is a commendable growth rate. Our GDP grew at an average rate of 5.8% only during the BJP government from 1998-2004.
6. Better Tax policies
The central governments tax revenues have increased tremendously due to the introduction of VAT as well as better accounting practicies brought into place by the current government. This, for the first time helped India, substantially bring down its ballooning budget deficit.
7. Educational policies under the current goverment like reservation for OBC, SC/ST is what I support again. (I dont agree with parts of the policy, but as a whole, I support the concept) If not the government and their own nation, who will the backward class people look up to help them out of their miseries? And the best way out pf poverty, deprivation, wretchedness is education. Fristly, there are strict pointers that ensure that the 50% reservation is not mis-used (The CREAMY LAYER Concept) But secondly, I dont see why the general class people should complain. Because in most cases, the 50% seats are not filled and these are then offered to the general class people. But Secondly, there are 6-7 new IITs that are being built in India and so, the total number of seats available for general class is going up and nothing else.
Surely, people do say why IIT and why not other institutes. But here again, I see a positive. The best way to create a pool of researchers, entrepreneurs, scientists in India would be to disseminate knowledge from the best source. What India needs the least is a bulgening pool of mediocre engineers (or other majors). We need to develop the best and the brightest and to do so, the best way would be to share the top faculty and expertise that we have in the country.
This was the debatable issue about reservations in Indian Institutions, but apart from this, the UPA has lead to the establishment of many more schools and institutions for higher education throughout India.
8. Attracting NRIs to invest in India.
Never earlier did I hear so much talk about Lakshmi Mittal, Kiran MAzumdar Shaw and
other NRIs. The current government has realized the importance of these people for development
of India and have constantly made efforts to get them to invest in businesses in India by providing
them incentives such as tax breaks, lower interest rates, SEZ priviliges, etc.
A bright India, a prosperous India, an India that shines, an India that has no confines. That is what
I dream for and I hope which ever party comes to power shares the same sentiment like me, like my
fellow Indians.
Tuesday, October 14, 2008
Education Qualifications of US Presidential/VP Candidates
Educational Background:
Barack Obama: Columbia University - B.A. Political Science with a Specialization in International Relations. Harvard - Juris Doctor (J.D.) Magna Cum Laude
Joseph Biden: University of Delaware - B.A. in History and B.A. in Political Science Syracuse University College of Law - Juris Doctor (J.D.)
Vs
John McCain: United States Naval Academy - Class rank: 894 of 899
Sarah Palin: Hawaii Pacific University - 1 semester North Idaho College - 2 semesters - general study University of Idaho - 2 semesters – journalism Matanuska-Susitna College - 1 semester University of Idaho - 3 semesters - B.A. in Journalism
Barack Obama: Columbia University - B.A. Political Science with a Specialization in International Relations. Harvard - Juris Doctor (J.D.) Magna Cum Laude
Joseph Biden: University of Delaware - B.A. in History and B.A. in Political Science Syracuse University College of Law - Juris Doctor (J.D.)
Vs
John McCain: United States Naval Academy - Class rank: 894 of 899
Sarah Palin: Hawaii Pacific University - 1 semester North Idaho College - 2 semesters - general study University of Idaho - 2 semesters – journalism Matanuska-Susitna College - 1 semester University of Idaho - 3 semesters - B.A. in Journalism
Monday, October 13, 2008
The Communal Clashes in India
This is something that has moved me a lot and all I keep doing is think about how the Indian society which I though was so progressive suddenly seems backward to me. You surely cant say that a country is doing good just by ensuring a growth rate of 9% (hoping against all odds that the financial meltdown wont slow this down a lot).
First things first, I am really sad of how an article in IHT was labeled HINDUISM Vs CHRISTIANITY IN INDIA. Its very important for all of us to realize that its only a few retards who are propogating these forceful conversions and not all HINDU's are taking arms against Christians. I am not saying the situation is not grave. It is grave and should be condoned. But what is more important, we should realize that making it sound so severe and showing how one religion is completely against the other definitely escaltes the problem and will slow down any process to calm the situation down. All Hindu's are not the same as Bajrang Dal activists and not all Christians approve of "SatyaDarshini".
Its a real shame and disgrace what is happening in the Indian state of Orissa where some extremists (I dont hesitate even a bit in calling them so) are propogating conversion of Christians to Hindus. Not that banning them in India will make much diffrence, but still, why the hell is the government not doing that. What more proofs are they asking for when they have caught Bajrang Dal Activists making bombs, Burning Christians to death, Raping Nuns, Vandalizing Churches. There have also been links show of how they were the people responsible for some previous blasts in India!
Let us look at the the so called REASONS that the Bajrang Dal activists put forward to justify themselves:
1. On Aug. 23 of a charismatic Hindu preacher known as Swami Laxmanananda Saraswati, who for 40 years had rallied the area's people to choose Hinduism over Christianity was killed. The police have blamed Maoist guerrillas for the swami's killing. But Hindu radicals continue to hold Christians responsible.
2. Satyadarshini, a book that bashes Hindu God's by calling some prostitutes and other devils has infurited these activists despite the bishops saying that they have no links with the book.
3. They blame the Churches for luring the poor Hindus in these poor parts of eastern-Orissa to Christianity by showing giving them social incentives. Hence, the Bajrang Dal says that all they are doing is "Re-Convesrion" and nothing more.
4. Some are even offended on
So, they go about threating people in these towns of Borepanga and Kandhamal to "Embrace Hinduism, else their house will be demolished and they will be killed or thrown out of the village."
Firstly, the blame defintiely lies on the Bajrang Dal and all the attrocities they have commited can not be justified ever. There was never a proof that the Christians killed the Hindu leader and even if there was, the response can never be tit for tat. There a reason why we prefer diplomacy over war as the repercussions are so hard to be bourne. (I know its hard for us to expect these irrational people to think about this, that is why the government should hit them back in the same way) What we see here is that in response for one death they go about killing and threating hundereds of men, women and kids and even RAPING nuns as if any of that would have given peace to the soul of the dead leader. This is horrendous. No religion preaches forceful convesions. And if someone choses one over the other, it has to be respected. There is much more work out there to be done to uplift Hinduism and promote it (the purpose of these organizations). There are many more people out there who can get inspired and take up your religion. Then why is there a need to go after people who who left your and try to forcefully get them back? Is it the number that is important to these radicals? Should their priority not be people who have their heart in the religion?
But over and above the government has to be blamed for all this, at the state as well as the central level.
1. The government has failed miserably in protecting the people in the society. They are running for their lives in the last 6 weeks. They feel threatened wherever they go and are always in hiding from the fear of these radicals. Even if we assume that the government in India is handicapped to be able to serve such a large population, why is it so tough to BAN BAJRANG DAL. It sends a really strong message and would be really appreciated by the people who currently feel estranged in the society. Having National Integration Conferences (NIC) and playing the blame game with the opposition wont help. It is high time some action is taken. What is the point of calling yourself a secular democracy when people of a race are craving for survival? Whose interests are being served when despite the capability, no offense is being taken against the offenders? Why is there a need to wait for a public uprising? Shouldnot be the policemen who just stood as puppets when a nun was being raped, be stoned to death?
2. Why could they not have banned SatyaDarshini in the first place? You talk about a society which is so diverse and it is not hard to digest that there will be differences existing. But wont this things only infuriate by publishing of such literature? Since when has the right to freedom of expression been so important, so much so that it can criticise the beliefs of others? All criticism and opinions are fine to the level at which they are not offensive to the majority (or even minority in that case). How unforseen is it that it can surely offend Hindu's. Why was it so tough to criticize and be harsh on the publishers and the authors?
First things first, I am really sad of how an article in IHT was labeled HINDUISM Vs CHRISTIANITY IN INDIA. Its very important for all of us to realize that its only a few retards who are propogating these forceful conversions and not all HINDU's are taking arms against Christians. I am not saying the situation is not grave. It is grave and should be condoned. But what is more important, we should realize that making it sound so severe and showing how one religion is completely against the other definitely escaltes the problem and will slow down any process to calm the situation down. All Hindu's are not the same as Bajrang Dal activists and not all Christians approve of "SatyaDarshini".
Its a real shame and disgrace what is happening in the Indian state of Orissa where some extremists (I dont hesitate even a bit in calling them so) are propogating conversion of Christians to Hindus. Not that banning them in India will make much diffrence, but still, why the hell is the government not doing that. What more proofs are they asking for when they have caught Bajrang Dal Activists making bombs, Burning Christians to death, Raping Nuns, Vandalizing Churches. There have also been links show of how they were the people responsible for some previous blasts in India!
Let us look at the the so called REASONS that the Bajrang Dal activists put forward to justify themselves:
1. On Aug. 23 of a charismatic Hindu preacher known as Swami Laxmanananda Saraswati, who for 40 years had rallied the area's people to choose Hinduism over Christianity was killed. The police have blamed Maoist guerrillas for the swami's killing. But Hindu radicals continue to hold Christians responsible.
2. Satyadarshini, a book that bashes Hindu God's by calling some prostitutes and other devils has infurited these activists despite the bishops saying that they have no links with the book.
3. They blame the Churches for luring the poor Hindus in these poor parts of eastern-Orissa to Christianity by showing giving them social incentives. Hence, the Bajrang Dal says that all they are doing is "Re-Convesrion" and nothing more.
4. Some are even offended on
So, they go about threating people in these towns of Borepanga and Kandhamal to "Embrace Hinduism, else their house will be demolished and they will be killed or thrown out of the village."
Firstly, the blame defintiely lies on the Bajrang Dal and all the attrocities they have commited can not be justified ever. There was never a proof that the Christians killed the Hindu leader and even if there was, the response can never be tit for tat. There a reason why we prefer diplomacy over war as the repercussions are so hard to be bourne. (I know its hard for us to expect these irrational people to think about this, that is why the government should hit them back in the same way) What we see here is that in response for one death they go about killing and threating hundereds of men, women and kids and even RAPING nuns as if any of that would have given peace to the soul of the dead leader. This is horrendous. No religion preaches forceful convesions. And if someone choses one over the other, it has to be respected. There is much more work out there to be done to uplift Hinduism and promote it (the purpose of these organizations). There are many more people out there who can get inspired and take up your religion. Then why is there a need to go after people who who left your and try to forcefully get them back? Is it the number that is important to these radicals? Should their priority not be people who have their heart in the religion?
But over and above the government has to be blamed for all this, at the state as well as the central level.
1. The government has failed miserably in protecting the people in the society. They are running for their lives in the last 6 weeks. They feel threatened wherever they go and are always in hiding from the fear of these radicals. Even if we assume that the government in India is handicapped to be able to serve such a large population, why is it so tough to BAN BAJRANG DAL. It sends a really strong message and would be really appreciated by the people who currently feel estranged in the society. Having National Integration Conferences (NIC) and playing the blame game with the opposition wont help. It is high time some action is taken. What is the point of calling yourself a secular democracy when people of a race are craving for survival? Whose interests are being served when despite the capability, no offense is being taken against the offenders? Why is there a need to wait for a public uprising? Shouldnot be the policemen who just stood as puppets when a nun was being raped, be stoned to death?
2. Why could they not have banned SatyaDarshini in the first place? You talk about a society which is so diverse and it is not hard to digest that there will be differences existing. But wont this things only infuriate by publishing of such literature? Since when has the right to freedom of expression been so important, so much so that it can criticise the beliefs of others? All criticism and opinions are fine to the level at which they are not offensive to the majority (or even minority in that case). How unforseen is it that it can surely offend Hindu's. Why was it so tough to criticize and be harsh on the publishers and the authors?
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