<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 sub-prime crisis upended the U.S.&nbsp;economy in 2007. President George W.&nbsp;Bush found it convenient to arraign the&nbsp;credit&nbsp;rating&nbsp;agencies for the fiasco. They&nbsp;had a harrowing time facing the crisis of confidence.<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;">Jharkhand-born Deven Sharma had just moved in to head Standard &amp; Poor (S&amp;P) in the U.S. Four years later, Standard &amp; Poor found it appropriate to downgrade the U.S. Government’s long-term debt rating from AAA to AA-. Barack Obama was at the helm then. He too fumed and fretted against the rating agencies. Senator John Kerry chose to dismiss it as “Tea Party Downgrade”. Damned if you, damned if you do not! Deven Sharma resigned from S&amp;P after 18 days of piloting this rating downgrade, which was the first of its kind in 70 years. The Federal Bureau of Investigation (FBI) went after Deven Sharma. Has the Enforcement Directorate in India taken a leaf out of this witch-hunting?<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;">Deven’s&nbsp;team found the debt ceiling stand-off as the reason for this downgrade. This announcement was on a Friday. The markets tanked&nbsp;next Monday. S&amp;P 500 lost 6.5% on first day after the downgrade in 2011.&nbsp;The benchmark U.S.&nbsp;ten-year sovereign bond yield, ideally, must have climbed. But it dropped, possibly at the intervention of the U.S.&nbsp;Federal Reserve.<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;">Twelve years later, Paul Taylor, CEO of Fitch Ratings, decided to bite the bullet. His agency had sent out a downgrade warning in May. It too downgraded the U.S. from AAA to AA+. This announcement was made after the markets closed on Monday. Will he last the next 18 days? The ides of August need to be watched. Deven of S&amp;P could not withstand the 18-day war of Mahabharata! Beyond the debt ceiling standoff, deteriorating governance concerns and fiscal profligacy have combined to press Fitch to effect the downgrade.<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;">A&nbsp;day&nbsp;after the downgrade in 2023, S&amp;P 500 shed 1.38%, NASDAQ Composite Index lost 2.17% and&nbsp;the&nbsp;benchmark U.S.&nbsp;ten-year sovereign yield rose by 2.4% to 4.08%. On the second day,&nbsp;the yield&nbsp;was&nbsp;further up at 4.11%. A rating downgrade reflects heightened default risk. But&nbsp;the credit&nbsp;default&nbsp;swap&nbsp;levels have remained unmoved.&nbsp;Perhaps, a&nbsp;one-notch dip&nbsp;from the top&nbsp;is too far away from default.&nbsp;If the safe haven theory should hold good, gold&nbsp;price&nbsp;must have gone up. But it dropped by 0.5% to $1934 per ounce, as in 2011. Down the line, will any rating agency downgrade&nbsp;the&nbsp;rating for&nbsp;gold!<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;">Just like the market, reactions of people who matter have been on predictable lines. Janet Yellen, the Secretary of U.S. Treasury and Jerome Powell, Chairman of Federal Reserve, have rebuffed the rating action, accusing Fitch of relying on inaccurate data. Are they questioning their own data? While Fitch is now aligned with S&amp;P on U.S. debt rating, Moody’s is still maintaining the AAA rating.<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;">Globally, ten economies still retain the AAA rating by Fitch and 11 by S&amp;P. Of the 11, Canada is rated AA+ by Fitch. Australia, Denmark, Germany, Liechtenstein, Luxembourg, Netherlands, Switzerland, Norway, Sweden and Singapore make up the rest of the ten. (<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" data-saferedirecturl="https://www.google.com/url?q=http://www.tradingeconomics.com/&amp;source=gmail&amp;ust=1691653641233000&amp;usg=AOvVaw3Gpzon2CBq7cUoAL7ccqor">www.tradingeconomics.com</a>) India too can boast of a double A in its rating, albeit with a “B” at the front and 3 at the end, making it “Baa3” with astable outlook, pecking it at the lowest of investment grade rating.<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;">Let us look at the following data across&nbsp;the&nbsp;U.S.&nbsp;(AA+), Australia (AAA) and India (Baa3) to&nbsp;understand&nbsp;if such rating divergences really reflect underlying weaknesses or perceived strengths. Data is as of March 2023, sourced from&nbsp;<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" data-saferedirecturl="https://www.google.com/url?q=http://www.ceic.data.com/&amp;source=gmail&amp;ust=1691653641233000&amp;usg=AOvVaw1GkBAcS29auPQ6qURFN3rU">info.ceicdata.com</a>.&nbsp;<figure class="image"><img src="https://strapi.bangalore2.com/uploads/image_2023_08_09_141331714_1_d4d939a500.png" alt="image_2023-08-09_141331714 (1).png" srcset="https://strapi.bangalore2.com/uploads/thumbnail_image_2023_08_09_141331714_1_d4d939a500.png 245w" sizes="100vw" width="245"></figure><span style="-webkit-text-stroke-width:0px;display:inline !important;float:none;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:center;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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Investment Grade Ratings/Source: <a style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;font-family:Manjari;font-size:15px;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:center;text-indent:0px;text-transform:none;transition:all 0.4s ease 0s;white-space:normal;widows:2;word-spacing:0px;" target="_blank" rel="noopener noreferrer" href="https://www.ceicdata.com/en">CEIC</a><span style="-webkit-text-stroke-width:0px;display:inline !important;float:none;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;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;">With the government debt to GDP remaining at 121%, the U.S. economy is puffing along on borrowed money. The next table will reveal that the holding of this debt by the U.S. is negligible, bracketed with others at 2%. This is also corroborated by the high external debt to GDP ratio of 96%. Yet, the U.S. perceived itself to be safe for more than eight decades! At 7%, the U.S. has the highest fiscal deficit to GDP among the three. Fitch has rightfully expressed heightened concerns on fiscal profligacy. U.S. citizens appear to have been so pampered with social security and health benefits that they forgot to save for themselves. Their gross savings rate is at negative 18%. “Yatha Rajah, thatha Prajah”. Just like the government, the citizens are also enjoying living on borrowed funds. Yet, US claims to be safe haven!<figure class="image"><img src="https://strapi.bangalore2.com/uploads/image_2023_08_09_141447561_2_9ec2a8151b.png" alt="image_2023-08-09_141447561 (2).png" srcset="https://strapi.bangalore2.com/uploads/thumbnail_image_2023_08_09_141447561_2_9ec2a8151b.png 245w" sizes="100vw" width="245"></figure><span style="-webkit-text-stroke-width:0px;display:inline !important;float:none;font-style:normal;font-variant-caps:normal;font-variant-ligatures:normal;font-weight:400;letter-spacing:normal;orphans:2;text-align:center;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; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Foreign Holders of U.S. Debt/Source: <a style="-webkit-text-stroke-width:0px;background-color:rgb(255, 255, 255);box-sizing:border-box;color:rgb(255, 53, 36);display:inline-block;font-family:Manjari;font-size:15px;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:center;text-indent:0px;text-transform:none;transition:all 0.4s ease 0s;white-space:normal;widows:2;word-spacing:0px;" target="_blank" rel="noopener noreferrer" href="https://www.federalreserve.gov/">US Federal Reserve</a><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;">Asia (led by China) holds 70% of U.S. debt. The U.S. is bracketed with others and still comes to less than 2%. Clear examples of leveraged economies that preach to the corporate world on high gearing!<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;">It is high time U.S.&nbsp;citizens made themselves aware of the sixth verse in Bhagavad Gita Chapter 3.<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;">karmendriyāṇi&nbsp;sanyamya&nbsp;ya&nbsp;āste&nbsp;manasā&nbsp;smaran indriyārthān&nbsp;vimūḍhātmā&nbsp;mithyāchāraḥ&nbsp;sa&nbsp;uchyate&nbsp;(Chapter 3:6)<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;">Those who restrain the external organs of action, while continuing to dwell on sense objects in the mind, certainly delude themselves and are to be called hypocrites.<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;" dir="auto">The mention of the “mithyachara” by the Lord is about the hypocrites, who find it convenient to huff, puff and rebuff as per their convenience.&nbsp;The ones who extoll the&nbsp;“façade” in Johari Window need to remove their facades fast.<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;"><img src="https://strapi.bangalore2.com/uploads/KSFE_ad_1024x1024_1_efada5f369.webp" alt="KSFE_ad-1024x1024 (1).webp">

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The sub-prime crisis upended the U.S. economy in 2007. President George W. Bush found it convenient to arraign the credit rating agencies for the fiasco. They had a harrowing time facing the crisis of confidence.

Huff, Puff and Rebuff at the Rating Downgrade

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?

<img src="https://strapi.bangalore2.com/uploads/7th_march_770x470_36992ea8b3.jpg" alt="7th-march-770x470.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_7th_march_770x470_36992ea8b3.jpg 245w,https://strapi.bangalore2.com/uploads/small_7th_march_770x470_36992ea8b3.jpg 500w,https://strapi.bangalore2.com/uploads/medium_7th_march_770x470_36992ea8b3.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;">State Bank of India (SBI) has hit news headlines repeatedly over the past few months. And every single time it has been for the wrong reasons. One of the major instances in this series of “headline-hitting-for-wrong reasons”- was through the downgrading of SBI’s Ratings by <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://bfsi.economictimes.indiatimes.com/amp/news/banking/goldman-says-goldilocks-period-over-for-banks-downgrades-sbi-icici-yes-bank/107956463">Goldsman Sachs</a>. Before that the Economic Research Wing was questioned by renowned economists for defending the Government by saying poverty and unemployment have reduced drastically. Around the same time, the SBI had granted a new loan of Rs. 34000 crores to the Adani group and that action and its unethical nature were also questioned and criticised widely.Historically, the largest bank in the country had earned the trust of the people. That is why there are 48 crores accounts in the bank. But the present appeal by SBI to the supreme court to provide time till June 30th to provide the list of purchasers of electoral bonds and parties which encashed them has aggravated the bad image that SBI has acquired in recent times. In the digital era, the bank which is a pioneer in technology is saying that it could not reconcile the transactions and provide the list. And that too after 18 days of the supreme court order. This is completely unacceptable.<img src="https://strapi.bangalore2.com/uploads/sbi_768x432_e3fd603a77.jpg" alt="sbi-768x432.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_sbi_768x432_e3fd603a77.jpg 245w,https://strapi.bangalore2.com/uploads/small_sbi_768x432_e3fd603a77.jpg 500w,https://strapi.bangalore2.com/uploads/medium_sbi_768x432_e3fd603a77.jpg 750w," sizes="100vw" width="undefined" height="undefined">Now, the current state of affairs raises the natural question as to what the bank is covering up and who it is shielding? Other related questions that have come up are as follows. Why SBI is being coerced to take this stand ? Because of fear? Who is afraid and why? Why the Chairman, SBI has taken this decision? is it under threat or is it because of some offer? Already some people are saying that he got extension in service due to an influential businessman. He should care for the bank and not a businessman or politician. History should remember him for good things and not wrong things.&nbsp;Already political parties have launched agitation against SBI. This will affect the image of this prestigious Bank. The Supreme Court has termed the Electoral Bonds scheme unconstitutional. Several media outlets have done research and published list of companies which donated through electoral bonds after there was raid or investigation against these companies by agencies of the government. (Refer <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.newslaundry.com/2024/02/20/behind-the-bjps-rise-and-rise-bonds-trusts-and-raids-on-corporates">Newslaundry</a> Report)In a letter to The Director (Budget) Dept of Economic Affairs, Ministry of Finance dated 25/06/2018 SBI has stated that it has spent Rs. 60,43,005/- for IT system Development for Electoral Bonds. Now, how is the bank justified in saying that providing the records needs more time? If this is the situation what is the use of new age IT systems that have been acquired?<img src="https://strapi.bangalore2.com/uploads/002_36f1a65987.jpg" alt="002.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_002_36f1a65987.jpg 118w,https://strapi.bangalore2.com/uploads/small_002_36f1a65987.jpg 379w,https://strapi.bangalore2.com/uploads/medium_002_36f1a65987.jpg 568w," sizes="100vw" width="undefined" height="undefined"><img src="https://strapi.bangalore2.com/uploads/003_085bb1663c.jpg" alt="003.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_003_085bb1663c.jpg 130w,https://strapi.bangalore2.com/uploads/small_003_085bb1663c.jpg 417w,https://strapi.bangalore2.com/uploads/medium_003_085bb1663c.jpg 625w," sizes="100vw" width="undefined" height="undefined">In an RTI reply to Shri. Sanjeev B. Ezhava, dated 22. 11.23, the SBI has provided details of electoral bonds for 6 years in just 6 days. Now why it requires months now ? (letter attached). It is surprising that a company ‘Future gaming’ has donated Rs. 100 crores to a trust named “Prudent Electoral Trust” a trust approved by CBDT under Electoral trust scheme 2013 (letter enclosed). Is this trust playing the role of a broker between political parties, Enforcement Directorate, CBI and companies which are doing illegal transactions.<img src="https://strapi.bangalore2.com/uploads/001_e3361b3971.jpg" alt="001.jpg" srcset="https://strapi.bangalore2.com/uploads/thumbnail_001_e3361b3971.jpg 122w,https://strapi.bangalore2.com/uploads/small_001_e3361b3971.jpg 391w,https://strapi.bangalore2.com/uploads/medium_001_e3361b3971.jpg 586w," sizes="100vw" width="undefined" height="undefined">The answer will be there in the list. Supreme Court must ask SBI to provide the list immediately. SBI should have a serious introspection. There should be the positions of Officer Director and Employee Director in the bank to question wrong decisions. To go down is easy. Climbing up again is difficult. The SBI top brass should remember this well known adage.</div></div>

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The Serial Mess-ups of the SBI Demand Major Course-correction

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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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The Incandescent Lights Of “Kishkindha Kaandam"

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Because We Must Not Forget: An Andolanjeevi Artist Holds Up The Dark Mirror

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