It is the financial regulators who get regular beating for jumping ahead of the curve in monetary policy management. They also figure as the convenient punching bag for being behind the curve too, at other times. The Bank for International Settlements (BIS), headquartered in Basel, Switzerland, tasked the Basel Committee on Banking Supervision (BCBS) with recommending capital standards that could prevent bank failures. The BCBS’s evolution gained salience as the global standard setter through the three BASEL Accords of 1988, 2004 and 2010. These accords attempted to standardise the definition of ‘bank capital’ and the methodologies to compute the minimum requirement to support a bank’s balance sheet. These recommendations endeavoured to insulate the financial sector from bankruptcies of financial intermediaries. But bank failures continued to surface even after the accords. Were the BIS and the BCBS behind the curve?The learnings from bank failures formed the raft of recommendations from the first to the third accord of BCBS. While the first accord took a one-size-fits-all approach, the BCBS turned more risk sensitive through Basel 2, and suggested incentivising banks to save on regulatory capital on the basis of asset quality. Yet the likes of Lehman Brothers and Northern Rock Bank folded up in 2008. The BCBS realised that Northern Rock failed the rock test because of inadequate robustness in their asset-liability management rather than asset quality concerns. Their over-dependence on wholesale resources and assets and the sudden drying up of liquidity in these instruments threw up liquidity risks, though the bank did not carry significant asset impairment risks. As a fallout of this fiasco, the BCBS introduced Capital Conservation Buffer (CCB) as additional capital to buttress the banks’ balance sheets and address liquidity concerns. They also recommended Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) which banks have been complying with, to insulate them from liquidity risks.The abrupt folding up of Silicon Valley Bank (SVB) on March 10 2023 is another instance of these capital-related prescriptions being found to be inadequate to address liquidity risk. Was the BCBS behind the curve or Gregory Becker, the Chief Executive Officer of SVB Bank, ahead of the curve? What led Becker to jump ahead? He has grown with the bank for more than three decades and has been heading it since 2011. His groundbreaking outreach to start-ups has made the bank’s name synonymous with the innovation sector and Silicon Valley is home to technology and homecare companies. The bank found itself vaulted into the group of top 20 banks in the United States. SVB’s stock joined the S&amp;P 500 index in 2018. It carried customer liabilities close to $ 175 billion. The journey since 1983 has been rosy and juicy and it has an office in Bengaluru, touted as India’s Silicon Valley city.As part of Fed Reserve’s endeavours to stay ahead of the curve amidst the Covid-19 pandemic, there was an unremitting infusion of liquidity into the system. The central banks of other nations too merrily followed suit. When the Fed Reserve had to grapple with roiling inflation, it began pulling the trigger for rate hikes. The benchmark US Ten-Year sovereign curve touched 4.01 % on March 9, 2023 from the low of 0.54% on 21st April 2020. The start-ups and the public in general found it difficult to fund their needs after the 347 basis points rise in the benchmark yield curve.They began demanding funds from banks, SVB included. SVB had to offload its investments in US Treasuries to meet the liquidity needs. The liquidity came at a heavy price. As interest rates had gone up, the price of treasury bonds had dropped. The resultant failure to generate liquidity dented the capital base of SVB. It announced a stock sale to shore up capital. The market is self-fulfilling. The stock lost 60% in a single day. The capital raising plan had to be shelved. Before Gregory Becker could retrace the curve, the Federal Deposit Insurance Corporation (FDIC) stepped in on March 10 and placed the bank under receivership. While the deposit liabilities of SVB are at $175 billion, the FDIC offers insurance protection only up to $250,000 to each retail investor. The financial loss to the public in an economy that is staring at recession is humungous.The collateral damage to the financial sector has been contagious. Other banking stocks lost $52 billion in market value on a single day.The tussle between the devas and asuras as to who will hold the head and tail of the serpent Vasuki while churning the milky ocean for Amrut is well known. Similarly, the tussle between regulators and market functionaries will always exist. The BCBS may push for Basel Accord “n”, yet the likes of Gregory Becker would be nudged by avarice to jump the curve.Subscribe to our channels on <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/c/THEAIDEM">YouTube</a> &amp; <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://chat.whatsapp.com/ELqD1D1bImgAP6MrG8jskq">WhatsApp</a><div class="mdp-liker-box after-content two-buttons style-border-fill row-right" style="--mdp-liker-bg-color-active:rgba(255, 33, 40, 1);--mdp-liker-bg-color-hover:rgba(255, 33, 40, 1);--mdp-liker-bg-color:rgba(255, 33, 40, 1);--mdp-liker-border:1px;--mdp-liker-radius:50px;--mdp-liker-text-color-active:rgba(255, 255, 255, 1);--mdp-liker-text-color-hover:rgba(255, 255, 255, 1);--mdp-liker-text-color:rgba(255, 33, 40, 1);box-sizing:border-box;font-size:initial;font-weight:initial;margin:0px;padding:0px;" id="mdp-liker-21667" data-memory="on"><div style="align-items:center;box-sizing:border-box;display:flex;justify-content:space-between;margin:0px;padding:0px;"><div class="mdp-liker-description" style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(85, 85, 85);font-family:Manjari;font-size:medium;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;max-width:60%;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">&nbsp;</div></div></div> &nbsp;

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It is the financial regulators who get regular beating for jumping ahead of the curve in monetary policy management. They also figure as the convenient punching bag for being behind the curve too, at other times.

SVB collapse: Ahead of the Curve? Or Nudged by Avarice?

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The AIDEM’s Cover Story on the ‘Big Crash’ of the Adani group of companies and its larger economic and political fallout highlights an important statement from the People’s Commission on Public Sector and Public Services, a public interest group consisting of eminent academics, jurists, erstwhile administrators, trade unionists and social activists.



The Adani affair: Collapse of Regulatory Structures

The Adani Enterprises’ Follow-on Public Offer (FPO) that closed on Tuesday has been rated as a “sails through“ by market observers, but this is unlikely to settle the shares’ volatility in the days ahead. The most significant facet of the FPO was that non-institutional investors (NII) bid for 3.19 crores of the 5.08 crore shares bid for – that is 63% .But even more strikingly, even within the category of NII, those with bids of above Rs.10 lakhs accounted for 99.75 %. Thus, the biggest of the big ticket biggies, for whom 64 lakh shares were reserved, actually bid for 3.185 crore shares. Oversubscription in this subcategory was thus almost 5 times. The overall subscription of NIIs was 3.32 times their quota.This category may have saved the FPO for now, but this raises even more questions, given that the objective of the FPO was to dilute concentrated holdings of the Adani share among the promoters. More about it later. The only other category that saved the blushes for the Adanis today was the qualified institutional buyers (QIB) category — bids were received for 1.61 crore shares against a reservation of 1.28 crore shares — implying that the oversubscription here was 1.26 times their quota.Listen to the podcast of this article hereAudio Player00:00 00:00Use Up/Down Arrow keys to increase or decrease volume. Bids by foreign institutional investors (FIIs) accounted for 77 % of bids by QIBs — most notably, mutual funds, banks and financial institutions (FIs) were absent in this category. The FPO was a flop show among all other categories of investors. Adani Enterprises’ own employees, for whom 1.61 lakh shares were reserved, opted to bid for just half the reserved quantity of shares.<img src="https://strapi.bangalore2.com/uploads/about_us_768x325_1_38ed72c4e4.jpg" alt="about-us-768x325 (1).jpg"> Adani Corporate House, Ahmedabad, GujaratNot unexpectedly, given the circumstances, the biggest setback for the Adanis was among retail investors. Of the 2.29 crore shares set aside for this category, bids were received for only 26.98 lakh shares – implying an acceptance rate of just 11.78%. But even more tellingly, 71 % of the bids were received at the cut-off price – the base price of Rs. 3112 (the upper bound was at Rs. 3276/share).Of course these bids are eligible for a discount of Rs 64 a share. Overall, the Adani Ent FPO received bids for 5.08 crore shares against an offer of 4.55 crore shares – an oversubscription of 1.12 times. Great win? Not quite, it would appear. But questions abound, many of them disturbing, especially because the “success” has rested heavily on the big moneybags who have saved the FPO from the disaster that was apparently staring at the Adanis in the face till today afternoon.First, if the purpose was to dilute the promoter stake and make the shareholding more dispersed, the way the FPO has gone does little to further this objective. Secondly, the “innovative” book-now pay-later structure of the FPO in which investors needed to pay just half of the price now for the shares they will be allotted, may actually inhibit investor interest even more because of the extreme volatility that the stock has shown.If the price of the share goes down even further, investors who may have “overpaid” for the stock may well rue their decision to bid. In fact, this factor may well have played a significant role in why retail investors stayed away. Among the core issues raised by the Hindenburg revelations were those about how shareholdings that were not at arm’s length from the Adani Group are perhaps allegedly masquerading as “public” holdings.The most important issue that would be of investor interest would be to know who the Big Guns who have saved the day for the FPO actually are. From a systemic viewpoint Know Your Investor (KYI) ought to be just as important for an institution as knowing its customer’s KYC! And, that is not just about the fate of one of India’s fastest growing (and biggest) conglomerates or about a boss who is among the world’s richest, but about the credibility and integrity of Indian capital markets.Subscribe to our channels on <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/c/THEAIDEM">YouTube</a> &amp; <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://chat.whatsapp.com/ELqD1D1bImgAP6MrG8jskq">WhatsApp</a><div class="mdp-liker-box after-content two-buttons style-border-fill row-right" style="--mdp-liker-bg-color-active:rgba(255, 33, 40, 1);--mdp-liker-bg-color-hover:rgba(255, 33, 40, 1);--mdp-liker-bg-color:rgba(255, 33, 40, 1);--mdp-liker-border:1px;--mdp-liker-radius:50px;--mdp-liker-text-color-active:rgba(255, 255, 255, 1);--mdp-liker-text-color-hover:rgba(255, 255, 255, 1);--mdp-liker-text-color:rgba(255, 33, 40, 1);box-sizing:border-box;font-size:initial;font-weight:initial;margin:0px;padding:0px;" id="mdp-liker-20935" data-memory="on"><div style="align-items:center;box-sizing:border-box;display:flex;justify-content:space-between;margin:0px;padding:0px;"><div class="mdp-liker-description" style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(85, 85, 85);font-family:Manjari;font-size:medium;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;max-width:60%;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">&nbsp;</div></div></div> &nbsp;

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The Adani Enterprises’ Follow-on Public Offer (FPO) that closed on Tuesday has been rated  as a “sails through“ by market observers, but this is unlikely to settle the shares’ volatility in the days ahead. The most significant facet of the FPO was that non-institutional investors (NII) bid for 3.19 crores of the 5.08 crore shares bid for  – that is 63% .

What is at stake after the Adani FPO?: The Credibility and Integrity of Indian Capital Markets

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So what are the implications of the January 2, 2023 Supreme Court verdict on Prime Minister Narendra Modi’s November 8, 2016 enforcement of demonetisation of Rs 500 and Rs 1,000 notes ? Indeed, the five-judge constitutional bench of the Apex Court upheld the controversial decision with a 4:1 verdict.

Demonetisation, Supreme Court order and unanswered Questions

On States’ Income and Devolution
I am seeing a lot of chatter about the collection of taxes and devolution of tax income. Certain statements by Tamil Nadu Finance Minister Palanivel Thiagarajan have contributed to this.
Tamil Nadu is one of the prosperous states, and so there is a lot of economic activity in TN. This means that a lot of tax is collected in TN.
Palanivel Thiagarajan
But the devolution of tax income is based on the population of each state. UP has a huge population and hence gets the lion’s share of tax income that goes to the states. But economic activity in UP is relatively low, so it doesn’t contribute very much to tax revenues, relatively speaking. That’s because UP is terribly poor and underdeveloped, no matter how many dimensions you measure it on.
How should you feel about this?
Well, I guess that depends on your economic philosophy.
Are you a socialist? Didn’t Marx say, “From each according to his ability, to each according to his need?” So, if you are a socialist, then TN is able to make more money, so you take more from TN. You assume that each person has the same basic needs, so you distribute the total revenue equally according to population. UP has a larger population than TN, so they get more. UP doesn’t have the same ability to earn as TN, so we have to take less from UP.
Now, keep in mind, the devolution of taxes is based on the population in 1971 and its split among the states. Since then, the population of UP has grown much more than that of TN. If the devolution of tax revenue was done according to today’s population levels, TN would get significantly less.
If you are not a socialist, then you would say, I am not going to subsidize UP or any other state. I will make my contribution to the national treasury for national needs like defense, etc., but I should get back devolution of tax income based on what I put in.
By that token, of course, you would also not like progressive taxation. After all, why should the needs of the poor be subsidized by taxing you? Let the poor guy and you and Ambani all pay the same flat rate. Just like TN earned its tax income through hard work, so did Ambani earn his income. If TN should not be penalized for doing well, why should Ambani?
And why should there be government schools for poor people? The money for the government schools comes from taxing people like you, people who work hard to earn your salary or profit. They want to use your hard-earned money to give free schooling to poor people who pay no tax. How dare they? Let the “poor” people send their kids to private schools if they can, or remain illiterate if they cannot. Why should their education happen on your dime? Goddamn freeloaders.
And you wouldn’t like any social programs, such as Mid-day means, Pradhan Mantri Awas Yojana, Integrated Child Development Services, and many other similar programs. Because the money for all those comes from the taxes you pay to pay for services for people who don’t pay taxes. After all, you don’t send your kids to government schools (see above paragraph.)
It’s a question of economic philosophy. India is still a socialist country, and that’s why these rules are in place.
But if you are not a socialist, the good news for you is that India is gradually becoming a more capitalist country, and perhaps when that happens, these rules will go away. The irony is that the states that are helping the BJP win are states like UP. The BJP is reducing the entitlements that the poor are being given in the socialist model, such as gradually reducing MNREGA. These will adversely affect states like UP, because there are more poor people in UP as a percentage of the population.
The state owning the means of production is another hallmark of a socialist state. Under the BJP, state-owned enterprises are being privatized rapidly. Even the railways are being privatized. Who needs these “government jobs” desperately? Certainly not Tamil Nadu. TN has so many private companies offering high-paying jobs that they will manage without the government jobs. But a state like Bihar or UP will have very few jobs without government jobs. Yet these are the people who vote most enthusiastically for the BJP that is busy axing government jobs by privatizing huge chunks of the economy.
So, in conclusion, if you are a person from Tamil Nadu, who is very upset about how your money is being used to subsidize poor people in UP, Bihar, Odisha, Rajasthan, and the like, take a deep breath and wait a decade. In that time, Modiji will end all this government expenditure. There will not be any government owned businesses – no railways, no steel plants, no factories; no government schools to waste money on midday meals; no army infrastructure to subsidize (because even this is being privatized thanks to Agnipath).
Simply put, government is going to become small, and so government expenditures are going to drastically decrease, so you will not have to part with so much of your income. The government will have no use for your money.
Everyone will finally be happy. The folks in UP and MP who like to see Modiji rule them forever, and the folks in TN who don’t want their money to be spent on welfare schemes in UP and MP.
So, my friends from TN, take a chill pill! Acche Din are coming soon in New India!

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I am seeing a lot of chatter about the collection of taxes and devolution of tax income. Certain statements by Tamil Nadu Finance Minister Palanivel Thiagarajan have contributed to this.

On States’ Income and Devolution

This year’s Economics Nobel Prize is a cruel joke. It has been presented to three economists, one of whom is Ben Bernanke, former Chairman of the Federal Reserve.The citation reads: “Modern banking research clarifies why we have banks, how to make them less vulnerable in crises and how bank collapses exacerbate financial crises. The foundations of this research were laid by Ben Bernanke, Douglas Diamond, and Philip Dybvig in the early 1980s. Their analyses have been of great practical importance in regulating financial markets and dealing with financial crises.”<img src="https://strapi.bangalore2.com/uploads/image_2022_10_11_150403103_768x504_40e2f59e28.png" alt="image_2022-10-11_150403103-768x504.png"> 2022 Economic Sciences Nobel Prize laureates Ben Bernanke, Douglas Diamond and Philip DybvigSeriously? Ben Bernanke was in charge of the U.S. economy from 2005 onwards, and his policies were responsible for the great recession of 2007-08. As the Chairman of the Federal Reserve, it was his job to stem the tide of toxic housing mortgages that were spreading rampantly in the United States. He failed at his primary job and caused the crisis. He was asleep at the wheel. His irresponsibility caused the banks to fail.This man’s policies crashed the world economy. And then he gave a free pass to the criminals who caused the crisis because they were “too big to fail.” And he gets an award for “how to make banks less vulnerable in crises” and “why avoiding bank collapses is vital?” Ask those families that lost everything how they feel about this.What of his policies after the crash, for which the folks in Stockholm are rewarding him? Bernanke was responsible for the introduction of the irresponsible practice of printing money, also known as Quantitative Easing, which has now led to soaring inflation all over the world. The global economy, and banks everywhere, are expected to crash like never before because of this inflation, coupled with the effects of the Ukraine war.The U.S. could get away with printing money because it has reserve currency. But thanks to its reckless policy of denying access to Russia to the dollar-based system, countries around the world have lost faith in the U.S. dollar, and are moving to de-link their economies from the dollar. China has greatly reduced its holdings of U.S. Treasury Bonds. Russia had been doing this for the past eight years, a key reason why Western sanctions have not hurt it as much as the West hoped they would.Other countries have seen what is happening. If the U.S. could try to kill Russia’s economy, one day it might try to do the same to them. In economic terms, the U.S. used the nuclear option against Russia, as it were. So, countries are moving quietly away from the dollar and back, after 50 years, to gold-backed currencies.Many of the economic crises that have ravaged the world are due to the world leaving the gold standard. After the Bretton Woods Conference in 1944, which led to the dollar becoming the world’s reserve currency, it was decided that the value of the dollar would be pegged to the price of gold. This was a rational system.But in 1971, U.S. President Richard Nixon took the decision to de-link the dollar from the price of gold. But the dollar still remained the reserve currency of the world. The net effect was that the U.S. could keep printing money whenever it needed it to finance its wars – in Vietnam, Iraq, Libya, Afghanistan, and so on. The U.S. financed these wars by selling its bonds to foreign countries and loading them with dollar securities because it could print as many dollars as were needed to finance those bonds. <img src="https://strapi.bangalore2.com/uploads/Untitled_1_768x507_2dfbe51e6f.png" alt="Untitled-1-768x507.png">The New York Times – August 16, 1971However, in the last few years, countries have been dumping the dollar. This becomes obvious when you look at the interest rates offered by U.S. treasury bonds. When the demand for your bonds goes down, you have to offer higher returns on your bonds so that people will buy them. How much demand for US bonds has gone down can be seen from the fact that, from a low of 0.6% on July 26, 2020, the interest rate on US bonds has jumped to nearly 4% today.<img src="https://strapi.bangalore2.com/uploads/unnamed_e1665479717523_682x1024_45c30d8b06.jpg" alt="unnamed-e1665479717523-682x1024.jpg"> US10Y: U.S. 10 Year Treasury – Stock PriceWorthless DollarEssentially, the US dollar is increasingly becoming worthless, and nobody wants to hold it any longer. The two countries that have been aggressively dumping the dollar are Russia and China. And the reason their action is U.S. sanctions. Under Trump, the U.S. engaged in a trade war with China, and that spooked the Chinese. Since 2014, the U.S. has been imposing sanctions on Russia. All these sanctions have led to the world viewing the U.S. as an unreliable partner who is capable of capriciously trying to destroy the economies of other countries, a perception that was only strengthened by its all-out economic war against Russia after its invasion of Ukraine.And so, the US is going to be left holding a huge pile of paper dollars that nobody wants. This is going to end its superpower status.All this is a consequence of the groundbreaking and unprecedented (in U.S. history) decision by Ben Bernanke to start printing money.And for this “achievement” of his – the destruction of the American economy (admittedly, not complete yet), the Nobel Committee has decided to award the Prize to Bernanke.If anyone should have gotten the Nobel Prize in economics for the housing crisis, it is Raghuram Rajan, because in 2005, he flagged the issue of the crazy housing bonds in a conference to Ben Bernanke, and was ridiculed at the time by Bernanke.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;"> Actually, I agree with the decision to award a Nobel to Bernanke. Only, it was the wrong prize. He should have been awarded the Peace Prize.<hr><h4 style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;letter-spacing:normal;line-height:1.2;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">Subscribe to our channels on<a style="background-color:transparent;box-sizing:border-box;color:rgb(247, 168, 16);display:block;margin:0px;padding:0px;text-decoration:none;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://www.youtube.com/c/THEAIDEM">YouTube</a>&amp;<a style="background-color:transparent;box-sizing:border-box;color:rgb(0, 0, 0);display:block;margin:0px;padding:0px;text-decoration:none;transition:all 0.4s ease 0s;" target="_blank" rel="noopener noreferrer" href="https://chat.whatsapp.com/ELqD1D1bImgAP6MrG8jskq">WhatsApp</a></h4>

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his year’s Economics Nobel Prize is a cruel joke. It has been presented to three economists, one of whom is Ben Bernanke, former Chairman of the Federal Reserve.

A Nobel for Economic Disaster

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Ravi (name changed), a 37-year-old from Kerala, was among the many who returned from the Gulf amid the initial wave of the COVID-19 pandemic. 

At the Crossroads: COVID-19 and the Ordeals of India’s Gulf Migrants

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US President Joe Biden’s statement linking the October 7 Hamas strike on Israel to India-Middle East-Europe Economic Corridor has added a new dimension to the ongoing conflict in the Gaza region. 

The India-UAE-Europe Economic Corridor and Hydrocarbon Factor in Palestine Region

The AIDEM’s Cover Story on the ‘Big Crash’ of the Adani group of companies and its larger economic and political fallout highlights an important statement from the People’s Commission on Public Sector and Public Services, a public interest group consisting of eminent academics, jurists, erstwhile administrators, trade unionists and social activists.

The Adani affair: Collapse of Regulatory Structures 

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The AIDEM had begun this series in order to disseminate a larger understanding of the complex Bitcoin world. We had titled this series “As Bitcoin Legends Tumble, A Broader Look at the Sector.” The context for giving this title is evident. 

A Glance at Prominent Cryptocurrencies

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<img src="https://strapi.bangalore2.com/uploads/IMG_20240930_WA_0007_770x470_d5062615d1.jpg" alt="IMG-20240930-WA0007-770x470.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_IMG_20240930_WA_0007_770x470_d5062615d1.jpg 245w,https://strapi.bangalore2.com/uploads/small_IMG_20240930_WA_0007_770x470_d5062615d1.jpg 500w,https://strapi.bangalore2.com/uploads/medium_IMG_20240930_WA_0007_770x470_d5062615d1.jpg 750w," sizes="100vw" width="undefined" height="undefined"><div class="post-body clearfix single-blog-header single-blog-inner blog-single-block blog-details-content" style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(85, 85, 85);font-family:Manjari;font-size:17px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;"><div class="entry-content clearfix" style="box-sizing:border-box;counter-reset:footnotes 0;margin:0px;padding:0px;">Communication is an art that many struggle with, but few realize it can be learned. Whether you’re talking to a friend, colleague, family member, or stranger, mastering this skill is within reach. Ever struggled to start a conversation or keep it going? Finding common topics of interest can be tricky, and navigating differing social or political views can feel like a minefield. But with the right approach, you can turn any interaction into a meaningful exchange.&nbsp;How do you find the right approach? More importantly, can you learn the required skills?“<a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:0.4s;" target="_blank" rel="noopener noreferrer" href="https://www.charlesduhigg.com/supercommunicators">Supercommunicators</a>,” written by Charles Duhigg, is a book that teaches you to learn the skills to convert a conversation into a connection. It distills the art of conversation, any conversation, including the ones with your friends and family, into actionable steps that you can readily practice and improve.<a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:0.4s;" target="_blank" rel="noopener noreferrer" href="https://www.charlesduhigg.com/">Charles Duhigg</a> is a Pulitzer Prize-winning American journalist and author of bestselling books. I read his first book, “The Power of Habit,” which is a constant presence in many bookstores, and liked it. I read it in 2013, and it convinced me about the importance of habits. Last year, I read his <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:0.4s;" target="_blank" rel="noopener noreferrer" href="https://www.newyorker.com/magazine/2023/12/11/the-inside-story-of-microsofts-partnership-with-openai">article</a> on the ChatGPT saga and liked it for its reporting breadth and depth.<figure class="wp-caption aligncenter" style="border-width:0px;box-sizing:border-box;clear:both;display:block;height:auto;margin:15px auto;max-width:100%;padding:0px;vertical-align:middle;width:629px;" id="attachment_30055" aria-describedby="caption-attachment-30055"><img src="https://strapi.bangalore2.com/uploads/811bz_Oshn5_L_AC_UF_10001000_QL_80_F_Mwebp_7ad3ac888f.webp" alt="811bzOshn5L._AC_UF10001000_QL80_FMwebp_.webp" srcset="https://strapi.bangalore2.com/uploads/thumbnail_811bz_Oshn5_L_AC_UF_10001000_QL_80_F_Mwebp_7ad3ac888f.webp 98w,https://strapi.bangalore2.com/uploads/small_811bz_Oshn5_L_AC_UF_10001000_QL_80_F_Mwebp_7ad3ac888f.webp 314w,https://strapi.bangalore2.com/uploads/medium_811bz_Oshn5_L_AC_UF_10001000_QL_80_F_Mwebp_7ad3ac888f.webp 472w," sizes="100vw" width="undefined" height="undefined"><figcaption class="wp-caption-text" style="box-sizing:border-box;display:block;font-size:15px;line-height:20px;margin:0px;padding:12px 0px 0px;text-align:center;" id="caption-attachment-30055">Cover of the book ‘Supercommunicators’</figcaption></figure>This book starts by breaking down every conversation into three types: Analytical, Emotional, and Social. Every conversation is essentially one of these three types. In analytical talk, the conversation is a transaction where facts and details matter. In emotional talk, the conversation is all about the feelings. In social talk, the conversation is about an identity. Now, listing the types helps in nothing. You still need to know what to do with this information.Suppose you argued with your father in the morning over a trivial issue. You reach the office and share the incident with your friend. Are you looking for a solution? Do you want to be listened to intently, get advice on who was wrong, or would just a hug do ? Suppose you differed with a colleague about a work issue. Another colleague, a friend, was listening. What do you want to hear from your friend? Advice or silence or just a hug? Suppose you hear about the sudden death of a friend’s loved one. What do you say to your friend? Advice or listen or a hug? As situations differ, so does the conversation, hence the importance of its type.After breaking the communication into its types, Charles goes on to break it into a step-by-step process of turning every conversation into meaningful, often joyful interactions, and in some cases, less stressful ones, even with a person with contrasting views. He uses psychological studies and instances of experts’ communication to establish the rules of effective communication.Stories form the backbone of narration and writing style, making it easy for everyone to understand, relate, and remember the content. Charles has used his recommendation to write the book as the writing oscillates between personal anecdotes, stories, and facts, often combining all three. As you turn the pages, you gradually get convinced about the process.<figure class="wp-caption aligncenter" style="border-width:0px;box-sizing:border-box;clear:both;display:block;height:auto;margin:15px auto;max-width:100%;padding:0px;vertical-align:middle;width:767px;" id="attachment_30056" aria-describedby="caption-attachment-30056"><img src="https://strapi.bangalore2.com/uploads/high_rez_duhigg_headshot_20160720afmduhigg0082_thumb_1536x1536_1_53a5660a0f.jpg" alt="high-rez-duhigg-headshot-20160720afmduhigg0082-thumb-1536x1536-1.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_high_rez_duhigg_headshot_20160720afmduhigg0082_thumb_1536x1536_1_53a5660a0f.jpg 245w,https://strapi.bangalore2.com/uploads/small_high_rez_duhigg_headshot_20160720afmduhigg0082_thumb_1536x1536_1_53a5660a0f.jpg 500w,https://strapi.bangalore2.com/uploads/medium_high_rez_duhigg_headshot_20160720afmduhigg0082_thumb_1536x1536_1_53a5660a0f.jpg 750w," sizes="100vw" width="undefined" height="undefined"><figcaption class="wp-caption-text" style="box-sizing:border-box;display:block;font-size:15px;line-height:20px;margin:0px;padding:12px 0px 0px;text-align:center;" id="caption-attachment-30056">Charles Duhigg</figcaption></figure>If you have read books on personal growth, they tend to follow a pattern. Every chapter makes a proposition supported by academic research or theories, followed by a story that establishes the usefulness of the proposition. Stories of failures are not part of this scheme. This book is no exception to this formula. However, this conformance should not take away the usefulness of this book.A few days after finishing the book, I took a train journey to New Delhi. The train starts at 6 in the morning from Varanasi, requiring me to get up at 4 AM. I always travel with a book, sometimes 2. If it is a mid-noon journey, I prefer reading books to talking to a co-passenger. But, early in the morning, I like a slow warmup to come to my full senses before picking a book. Opening a conversation with a co-passenger who is perhaps also in the same state has always been a nervous affair. But I had read this book, so at least I knew a theory I could test.<img src="https://strapi.bangalore2.com/uploads/images_2024_09_30_T164448_607_ee3a11384b.jpeg" alt="images-2024-09-30T164448.607.jpeg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_images_2024_09_30_T164448_607_ee3a11384b.jpeg 245w,https://strapi.bangalore2.com/uploads/small_images_2024_09_30_T164448_607_ee3a11384b.jpeg 500w,https://strapi.bangalore2.com/uploads/medium_images_2024_09_30_T164448_607_ee3a11384b.jpeg 750w," sizes="100vw" width="undefined" height="undefined">Charles suggests starting a conversation with a question that doesn’t have a 1-word answer. He calls them Deep questions. For example, instead of asking questions like, “Where are you going?” or “Are you from Varanasi?” you may ask, “What do you like about early morning train journeys?”. I started with a similar question. However, a few minutes into the conversation, the person said, “I do not like the Congress party (India’s principal opposition party).”Now, I like the Congress party. Had I not read the book, I would have gone on to list several reasons to prefer the Congress party. I would have given one argument after another, countering his response with facts and figures. I would have transformed myself into an evangelist, on a mission to reform this man and make him fall in love with the Congress party. After a few minutes of conversation, he would have silently waited for me to drain all my energy and stop. We would have withdrawn into our shells for the rest of the journey, talking only to ask for a way to leave the seat. Thankfully, I had read this book, and none of this happened.I instead said, “They give many reasons to people to dislike them.” It opened him up to offer his reasons for this blanket statement, which allowed me to steer the conversation to his upbringing, parents, childhood, values, work, motivations, etc. When I shared about my organization’s work with school children from economically underprivileged families, he shared his wife’s efforts of sheltering orphaned street dogs. We agreed on several issues, including the complete failure of the current central government, despite opposing political preferences. Neither did I contradict his personal experiences, nor did he contradict mine. Moreover, we agreed that our experiences shape our views, which are bound to change if we remain open.<img src="https://strapi.bangalore2.com/uploads/images_2024_09_30_T164615_165_ec71a30e5a.jpeg" alt="images-2024-09-30T164615.165.jpeg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_images_2024_09_30_T164615_165_ec71a30e5a.jpeg 245w,https://strapi.bangalore2.com/uploads/small_images_2024_09_30_T164615_165_ec71a30e5a.jpeg 500w," sizes="100vw" width="undefined" height="undefined">“Supercommunicators” book taught me to treat every conversation as a learning opportunity. It taught me not to approach a conversation as a right vs wrong battle but to connect by sharing stories and anecdotes more than the facts. Ultimately, you can convince a person more by listening than by speaking. In a world getting more polarised, we all need to learn to talk to each other and listen better. Thankfully, we have this book.</div></div>

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Navigating Difficult Dialogues: How 'Supercommunicators' Can Help in a Polarised World"

<img src="https://strapi.bangalore2.com/uploads/images_34_770x393_796d24e9a6.jpeg" alt="images-34-770x393.jpeg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_images_34_770x393_796d24e9a6.jpeg 245w,https://strapi.bangalore2.com/uploads/small_images_34_770x393_796d24e9a6.jpeg 500w,https://strapi.bangalore2.com/uploads/medium_images_34_770x393_796d24e9a6.jpeg 750w," sizes="100vw" width="undefined" height="undefined"><div class="post-body clearfix single-blog-header single-blog-inner blog-single-block blog-details-content" style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(85, 85, 85);font-family:Manjari;font-size:17px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;margin:0px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;"><div class="entry-content clearfix" style="box-sizing:border-box;counter-reset:footnotes 0;margin:0px;padding:0px;">Prolific documentary filmmaker R.P Amudhan’s body of work is unique and striking, especially in the manner in which his creations address issues and concerns of the marginalised sections of society. He is known as a media activist too. Hailing from Madurai, in Tamil Nadu, he founded the Marupakkam Media Activist Group (MMAG) in in his home district. The MMAG produces documentaries, screens films, and conducts workshops. He has over 20 documentaries to his credit. His films primarily focus on caste and labour issues. In this Interview with poet and writer Rashida Nasriya, filmmaker Amudhan RP discusses his craft, concerns and challenges.&nbsp;Rashidha Nasriya: What do you consider as the most significant challenge you have faced during the making of your documentaries?Amudhan RP: The biggest challenges I have faced in documenting the kind of social issues I have chosen to film are threefold. First, identifying a crucial topic which requires in-depth understanding and sufficient data to substantiate the narrative. Once I have a clear understanding of the topic, I would conduct thorough research and convince people, that is the characters in my film and their kith and kin. This has been my approach from my very first film, Leelavathi, a documentary on a Communist Party of India (Marxist) – CPIM- cadre killed in Madurai in 1997. I was relatively young at that time and the task of persuading her family and the district CPIM committee took a lot of effort. I finally did get their consent. It was a difficult task to get their trust.The second challenge – although a joyful one – is researching and gathering credible information, while the third is securing funding. As a solo filmmaker, I have learned to be self-sufficient. But still finding funds is a challenge. Any filmmaker would go through these challenges in varying degrees.<img src="https://strapi.bangalore2.com/uploads/images_35_721e230496.jpeg" alt="images-35.jpeg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_images_35_721e230496.jpeg 208w,https://strapi.bangalore2.com/uploads/small_images_35_721e230496.jpeg 500w," sizes="100vw" width="undefined" height="undefined">Nasriya: Did your activist background influence your decision to become a filmmaker?Amudhan: During my MA studies, I attended a workshop in Madurai organised by Center for Development of Instructional Technology (CENDIT), an organisation based in New Delhi. Here, I was exposed to several powerful documentary films. This experience opened my eyes to the significance of political documentaries. I was introduced to the concept of using film as a tool for social change, and I immediately knew I wanted to become a documentary filmmaker and an activist. This workshop sparked my passion for creating and screening films that inspire critical thinking and trigger meaningful conversations. It was a turning point that led me to merge my interests in social activism and filmmaking, ultimately shaping my identity as an activist-filmmaker. Activism and filmmaking are deeply intertwined for me – they’re two sides of the same coin. My filmmaking is an extension of my activism, and vice versa; the two are inseparable.Nasriya: Your film “My Caste” examines the intersection of caste, hegemony, and consensus in Indian society. What has driven your focus on caste in your activism and filmmaking?Amudhan: I wanted to take on the Caste issue from the perpetuator point of view rather than from the victim’s or survivor’s point of view. I wanted to get into the minds of the people who either follow or negotiate or negate caste in their lives. I wanted to know what happens in people’s minds when they deal with caste matters. That’s why I made the film ‘My Caste’ ‘recording the views of various people on caste related questions.<figure class="wp-caption aligncenter" style="border-width:0px;box-sizing:border-box;clear:both;display:block;height:auto;margin:15px auto;max-width:100%;padding:0px;vertical-align:middle;width:951px;" id="attachment_30033" aria-describedby="caption-attachment-30033"><img src="https://strapi.bangalore2.com/uploads/IMG_20240927_WA_0021_d0a7a9b78c.jpg" alt="IMG-20240927-WA0021.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_IMG_20240927_WA_0021_d0a7a9b78c.jpg 154w,https://strapi.bangalore2.com/uploads/small_IMG_20240927_WA_0021_d0a7a9b78c.jpg 495w,https://strapi.bangalore2.com/uploads/medium_IMG_20240927_WA_0021_d0a7a9b78c.jpg 743w," sizes="100vw" width="undefined" height="undefined"><figcaption class="wp-caption-text" style="box-sizing:border-box;display:block;font-size:15px;line-height:20px;margin:0px;padding:12px 0px 0px;text-align:center;" id="caption-attachment-30033">Amudhan speaking at an event</figcaption></figure>Nasriya: Can you give some details on how you investigated labour exploitation in Tirupur’s garment industry for your documentary “Dollar City”?Amudhan: Many of my films focus on labour issues, with a considerable number exploring labour practices. For my trilogy on hegemony and consensus, I chose Tirupur as a case study. This city exemplifies how consensus is manufactured to prioritise the industry’s interests.In Tiruppur, a tacit understanding exists among industries, trade unions, workers, NGOs, and political parties to protect the industry at all costs. The prevailing narrative is: ‘Without the industry, we cannot survive.’ This consensus leads to widespread compromise and adjustment, perpetuating the exploitation.<figure class="wp-caption aligncenter" style="border-width:0px;box-sizing:border-box;clear:both;display:block;height:auto;margin:15px auto;max-width:100%;padding:0px;vertical-align:middle;width:739px;" id="attachment_30028" aria-describedby="caption-attachment-30028"><img src="https://strapi.bangalore2.com/uploads/images_36_2e37ef3154.jpeg" alt="images-36.jpeg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_images_36_2e37ef3154.jpeg 245w,https://strapi.bangalore2.com/uploads/small_images_36_2e37ef3154.jpeg 500w," sizes="100vw" width="undefined" height="undefined"><figcaption class="wp-caption-text" style="box-sizing:border-box;display:block;font-size:15px;line-height:20px;margin:0px;padding:12px 0px 0px;text-align:center;" id="caption-attachment-30028">During production of Amudhan’s documentary</figcaption></figure>I want to capture this complex dynamic in my film, highlighting how Tiruppur’s industry-centric consensus affects labor rights and social justice.&nbsp;Nasriya: How did you approach exploring the complex and sensitive topic of manual scavenging in your film “Pee (Shit)”?Amudhan: I wanted to make a Tamil version of Lesser Humans – a documentary on Manual Scavenging in Gujarat by Stalin K. Although I wanted to make a similar comprehensive film about Tamilnadu, my encounter with Mariamma, a sanitary worker in Madurai convinced me to make a short documentary which practically covers every aspect of the work.I realised a shorter format could powerfully convey the urgency of this issue, making a compelling argument against manual scavenging. This inspired me to create the film titled ‘Pee’ (Shit) [Watch Below], highlighting the harsh realities of manual scavenging.<div class="raw-html-embed"><iframe width="640" height="480" src="https://www.youtube.com/embed/a0eWOHAvVn4" title="Shit - a documentary by Amudhan R.P." frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""></iframe></div>&nbsp;Nasriya: What inspired you to create a documentary about Mercury pollution in Kodaikanal?Amudhan: The film ‘Mercury in the Mist’ was initiated by workers from the Kodaikanal thermometer factory, who had been fighting against the company’s harmful practices. They sought my help to create a documentary supporting their cause, highlighting the devastating health effects of mercury exposure and their ongoing court battles. It was partially funded by the workers and their well wishers like Nityanand Jayaraman and others.&nbsp;Nasriya: Do you think the documentary can contribute to the border understanding of the challenges facing Indian democracy?Amudhan: Documentary watching is, in my opinion, one of the most engaging and intellectually stimulating activities. It offers a unique blend of education, art, and social awareness, empowering individuals to become responsible citizens. By watching documentaries, we gain perspectives on the world around us, exercising our right to informed decision-making and participatory governance. Through my screenings, I aim to create opportunities for social and political education, fostering a culture of critical thinking and civic engagement. Documentaries provide a valuable platform for raising awareness on critical issues, making meaningful conversations and inspiring social change.&nbsp;Nasriya: How crucial is creative freedom in documentary filmmaking for fostering critical thinking and public debate?Amudhan: In documentary filmmaking, merely reporting or recording is not enough. It is an opportunity to critically examine any subject, sparking meaningful discussions. We must be courageous enough to ask difficult questions, amplify marginalized voices and confront uncomfortable truthsUnlike commercial cinema, documentary filmmakers must take risks, challenging the status quo and pushing boundaries. By doing so, we humanize overlooked stories, Inspire critical thinking and foster empathy and understanding.&nbsp;Nasriya: How did your initiative “Marupakkam” come about…?Amudhan: Marupakkam is a network of people collaborating to promote documentary filmmaking and social change. We invite participation from individuals across India in various capacities, including funding, research, topic development, filmmaking, screening, and documentary workshops.&nbsp;<figure class="wp-caption alignright" style="border-width:0px;box-sizing:border-box;display:inline;float:right;height:auto;margin:5px 0px 20px 20px;max-width:100%;padding:0px;vertical-align:middle;width:1080px;" id="attachment_30029" aria-describedby="caption-attachment-30029"><img src="https://strapi.bangalore2.com/uploads/Screenshot_20240927_1713542_bec309fa73.png" alt="Screenshot_20240927-1713542.png" srcset="https://strapi.bangalore2.com/uploads/thumbnail_Screenshot_20240927_1713542_bec309fa73.png 245w,https://strapi.bangalore2.com/uploads/small_Screenshot_20240927_1713542_bec309fa73.png 500w,https://strapi.bangalore2.com/uploads/medium_Screenshot_20240927_1713542_bec309fa73.png 750w,https://strapi.bangalore2.com/uploads/large_Screenshot_20240927_1713542_bec309fa73.png 1000w," sizes="100vw" width="undefined" height="undefined"><figcaption class="wp-caption-text" style="box-sizing:border-box;display:block;font-size:15px;line-height:20px;margin:0px;padding:12px 0px 0px;text-align:center;" id="caption-attachment-30029">Homepage of Marupakkam [Visit <a style="background-color:transparent;box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;margin:0px;padding:0px;transition:0.4s;" target="_blank" rel="noopener noreferrer" href="http://marupakkammadurai.blogspot.com/?m=1">Here</a>]</figcaption></figure>Our activities involve screening documentaries, researching social issues, making films on relevant topics, teaching documentary filmmaking, and showcasing films made by others. Through these efforts, we aim to foster a community that inspires social change through documentary filmmaking.&nbsp;&nbsp;Nasriya: As a prolific documentary creator what advice would you give to emerging filmmakers?Amudhan: To young and upcoming filmmakers, I say: read widely, travel extensively, and cultivate an open-minded perspective. Listen to diverse voices, even in everyday settings like markets, where numerous perspectives converge. If you don’t have an open mind, you will only hear the voices that confirm your existing views. But with an open mind, you will identify and appreciate the varied voices, even within the same marketplace.</div></div>

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Amudhan’s Craft, Concerns and Challenges

<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">The victory of Marxist leader Anura Kumara Dissanayake in Presidential election in Sri Lanka has been described as a political Tsunami by international politicians and observers. Sri Lanka based Independent policy analyst and writer Amita Arudpragasam analyses the context of the results in detail and points out that it was the economic mismanagement and corruption of earlier, dynasty oriented, regimes as well as Anura’s clean image that propelled significant sections of voters towards the Leftist JVP leader.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">She also points out that while the victory does indeed signify the emergence of new hopes in the country, it would be too early to predict dramatic policy and ideological shifts, including in the island nation’s orientation towards India and China. Watch the interview here.<hr><p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ഈ വിഷയത്തിൽ പരിസ്ഥിതി പ്രവർത്തകനും എഴുത്തുകാരനുമായ കെ സഹദേവൻ എഴുതിയ കുറിപ്പ് ചുവടെ നൽകുന്നു:<h2 style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:25px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;letter-spacing:normal;line-height:1.2;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">അദാനിയും ശ്രീലങ്കയിലെയും ബംഗ്ലാദേശിലേയും ഭരണ വ്യവസ്ഥയിലെ വമ്പൻ മാറ്റങ്ങളും</h2><p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ശ്രീലങ്കയിലെയും ബംഗ്ലാദേശിലെയും എന്തിന് ഓസ്‌ട്രേലിയയിലെപ്പോലും രാഷ്ട്രീയ ഭരണമാറ്റത്തിന് പിന്നിലെ പൊതുഘടകത്തെ കണ്ടെത്താൻ ശ്രമിച്ചാൽ ഗൗതം അദാനിയിൽ ചെന്ന് മുട്ടും. ഉഭയകക്ഷി ബന്ധങ്ങളെ വ്യവസായി താൽപ്പര്യങ്ങൾക്കായി ഉപയോഗപ്പെടുത്താൻ ഭരണകൂടങ്ങൾ തുനിഞ്ഞിറങ്ങിയാൽ അതിന്റെ അനിവാര്യഫലമെന്നത് ആ രാജ്യത്തിന്റെ സാമ്പത്തിക സുസ്ഥിരത തകർക്കപ്പെടുക എന്നതായിരിക്കും.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ബംഗ്ലാദേശിന് വൈദ്യുതി വിൽക്കുന്നതുമായി ബന്ധപ്പെട്ട കരാർ അദാനിക്ക് ലഭ്യമാക്കുന്നതിന് ബീഗം ഹസീനയ്ക്ക് മേൽ സമ്മർദ്ദമുയർത്താൻ നരേന്ദ്ര മോദിക്ക് യാതൊരു മടിയുമുണ്ടായിരുന്നില്ല. 2015ലെ മോദിയുടെ ബംഗ്ലാദേശ് സന്ദർശനത്തിന്റെ മുഖ്യ അജണ്ടതന്നെ അദാനിക്ക് വൈദ്യുതി വിതരണക്കരാർ നേടിയെടുക്കുക എന്നതായിരുന്നു.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ഇന്ന് ബംഗ്ലാദേശ് ഭരണകൂടത്തിന്റെ മുന്നിലുള്ള പ്രധാന അജണ്ട അദാനിയുമായുള്ള കരാറിൽ നിന്ന് എങ്ങിനെ രക്ഷപ്പെടാം എന്നതാണ്. ശ്രീലങ്കയിൽ 400 മില്യൺ ഡോളറിന്റെ ഗ്രീൻ എനർജി പ്രോജക്ടുകളാണ് അദാനി നേടിയെടുത്തത്. 225 മെഗാവാട്ടിന്റെ കാറ്റാടിപ്പാട നിർമ്മാണ പദ്ധതി നേടിയെടുക്കുന്നതിനും നയതന്ത്ര ബന്ധങ്ങൾ ഉപയോഗപ്പെടുത്തപ്പെട്ടു.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ഇതിനുപുറമെ 700 ദശലക്ഷം ഡോളറിന്റെ കണ്ടൈയ്‌നർ തുറമുഖ പദ്ധതിയും നേടിയെടുക്കാൻ അദാനിക്ക് സാധിച്ചു. ഈ രണ്ട് പദ്ധതികളും ശ്രീലങ്കയുടെ ദീർഘകാല താൽപ്പര്യങ്ങൾക്ക് വിരുദ്ധമാണെന്ന ആരോപണം പാർലമെന്റിലും പുറത്തും ശക്തമായി ഉന്നയിക്കപ്പെട്ടുകൊണ്ടിരിക്കുകയാണ്.<p style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(39, 39, 39);font-family:Manjari;font-size:18px;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;line-height:1.7;margin:0px 0px 15px;orphans:2;padding:0px;text-align:left;text-decoration-color:initial;text-decoration-style:initial;text-decoration-thickness:initial;text-indent:0px;text-transform:none;white-space:normal;widows:2;word-spacing:0px;">ഓസ്‌ട്രേലിയയിൽ അദാനി നേടിയെടുത്ത കാർമൈക്കൾ കൽക്കരി ഖനന കരാറും ഇതേരീതിയിൽ അതിശക്തമായ രാഷ്ട്രീയ എതിർപ്പ് ക്ഷണിച്ചുവരുത്തിയ ഒന്നാണ്. ഒരു ദശകക്കാലത്തെ കൺസർവേറ്റീവ് ഭരണത്തിന് അറുതിവരുത്തിക്കൊണ്ട് ലെഫ്റ്റ് ചായ്വുള്ള ആന്റണി അൽബനീസ് ഗവൺമെന്റ് അധികാരക്കസേരയിലെത്തിയതിന് പിന്നിലും ഗൗതം അദാനിക്കെതിരായ പ്രതിഷേധത്തിന്റെ വേരുകൾ കണ്ടെത്താൻ കഴിയും…

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What Next in Sri Lanka After Leftward Shift in President Polls?

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