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The fraud at Punjab and Maharashtra Co-operative (PMC) Bank shows that there is a rot in the system and not the bank. If unchecked, it can cause irreparable damage to the system. The complicity of bank officials with the Wadhawan family and its companies shows that there is a systemic flaw in the credit system. The extent of it may vary from one bank to another, but its existence is now undeniable.
Addressing a press conference after the Monetary Policy Committee review, Reserve Bank of Indai (RBI) governor Shaktikanta Das said that the PMC incident was an isolated one and there was no need to panic. Yes, there is no need to trigger panic but there is an immediate need to revamp the audit process carried out by RBI and internal auditors of banks. These audits failed to detect multiple accounts, over 20,000 accounts with the same address and ownership. This shows a systemic failure. Auditors need to use technology and simple programming languages like Python to sort through large databases to identify risks, especially concentric risks. It also shows that core banking solutions (CBS) a software platform mandated by RBI is prone to manipulations.
Finance Minister Nirmala Sitharaman seems to be cognizant of this challenge as she has asked public sector banks to appoint risk assessment officers at higher salaries. Cooperative banks also need risk assessment audit, as they are incapable of hiring such talent. RBI has to appoint these risk assessment auditors so that the extent of the problem in cooperative banks can be gauged and addressed.
There is a culture of hiding risks associated with a borrower at several points in the process of credit approval and disbursement. This has become part of the credit system. If a borrower cannot pay interest on loans, they do not disclose his situation and position as it shows the branch, the branch manager and credit team in a bad light. The managers see it as a personal failure. The bank also takes strict action against staff responsible for approving such loan.
The system treats default as a failure of the employee more than the borrower. The employee’s failure in judging the capability of the borrower is an individuals failure not because of economic cycles. Therefore, to prevent a borrower from failing, bank employees go to extreme lengths. Renewing loans, giving it to associated companies, ensuring that the interest payments are funded, and even committing fraud with the system. They try to hide it as long as they can, praying and hoping that the borrower will recover and repay.
This is the behaviour of the credit department in all banks. This is corroding the banking system as it’s endemic, barring a few private banks. The system does not know the exact risk it is carrying as nobody wants to acknowledge the borrower’s position till it blows up in the media. There is a conspiracy of silence among bank managers as every disclosure has a ripple effect across branches and banks.
The system needs correction to revamp the credit system, both process reform and behaviour change is required. The behaviour nudge is important versus any aggressive action as the latter will freeze the credit flow in the system already suffering from a slowdown. The asymmetric relationship between the bank manager and the borrower needs correction.
There is too much power with branch managers. Some banks have shifted the process of sanction to a central committee for loans beyond a size. But routing every single loan through a central committee slows down the process of sanction and disbursement. Hence, technology, data and artificial intelligence needs to be used to create solutions for approval and disbursement.
Decisions need automation in core banking solutions and manual interventions need to be reduced. The process of loan approval begins at the branch level. Due diligence needs to be outsourced. The paperwork, physical verification of assets, valuation of assets, determination of the creditworthiness of the business and individual to pay — these are data collection steps and here biases and corruption affect the outcome. There needs to be competition among branches to do it in the most exhaustive manner. We should see successful completion of this process as an accomplishment whether or not it grants the loan. This is the only way to bring rigour in this process.
The different processes in the system – evaluation, determination of interest rate to be charged and credit rating also need a revamp. There is graft, corruption and malfeasance. Branch managers lobby credit rating agencies for a better credit rating to justify their own evaluation report and offer a cheaper loan to the borrower. In a consortium, bankers blindly followed the evaluation of the largest lender which, if it’s State Bank of India (SBI), the report is copied and pasted by all the other banks. In terms of evaluation, SBI, because of its size, has a better evaluation system than most private sector banks. And if it wants, it can pull data on the past performance of cash flows of the promoters.
If SBI is not involved, the credit evaluation report is poor and prepared after the decision to lend or not is already made. Borrowers can influence lending in both public and private sector banks. Sometimes, to meet targets, branch managers behave like entrepreneurs. All checks and balances in the system are up for subversion if the manager has decided to lend. In the last few years, bankers have become wary of taking decisions that involve risk and do not want to lend either. The pile-up of NPAs and recovery has become the only target for most PSBs. Bankers are in a hurry to send a borrower to the insolvency board. They do not want to restructure for fear of being questioned. The pendulum has swung in the other direction. In a nutshell, the system is in a jam. Therefore, a revamp needs to be done in stages. The objective should not be to punish the bank employees but to change the overall credit culture. (IANS)
By Rajesh U. Pandya
Although the world is recovering from coronavirus pandemic, we must not lower our guards and stay alert when it comes to hand hygiene to curb the spread of the deadly virus. But are we paying sufficient attention to our nail hygiene? Our nails are the index of well-being for our entire body. The manifestations of several critical diseases were first detected within the dirty nails.
The ignorance towards our nails becomes the breeding ground of harmful bacteria. These germs enter our body through our hands because in India we eat through our bare hands. Therefore, nail hygiene is crucial and without it hand hygiene is incomplete.
Practising good nail hygiene involves following a systematic process to ensure the longevity of our nail health. It includes ensuring that food particles, dirt and dust are not sticking to our nails and there is no build-up of nail bacteria. Thankfully, contrary to popular belief, it is not that difficult to maintain good nail hygiene. A little diligence, awareness and attention are sufficient to keep our nails healthy.
Avoiding nail hygiene makes you prone to viral infections
Due to constant negligence towards the cleanliness of the nails, many serious issues like bacterial and viral infections arise. Often these lead to serious health problems. Our hand hygiene is not perfect till the time we clean the undersides of our nails besides washing hands regularly. Most people don't mind sharing nail clippers with others. This is however an extremely unhygienic practice. When we don't share any of our personal hygiene products then why do we share our nail clippers? Nails harbour abundant germs, bacteria and viruses and sharing nail clippers is equivalent to exchanging those microorganisms.
Nails harbour abundant germs, bacteria and viruses and sharing nail clippers is equivalent to exchanging those microorganisms.| Photo by CDC on Unsplash
Keep fingernails dry and clean
It prevents bacterial and fungal infections from growing under our nails. It has been observed that prolonged exposure to water can break nails. It is always recommended to wear cotton-lined rubber gloves when washing dishes, cleaning or using harsh chemicals. In order to follow good nail hygiene, we have to be careful about our nail care products. Use a sharp stainless-steel nail clipper with a grime remover, that can remove the hidden germs and grime below the nails. Trim nails straight, then round the tips into a gentle curve. Always wash hands and under nails with soap and water after a nail clipping session.
Always wash hands and under nails with soap and water after a nail clipping session. Photo by rashid khreiss on Unsplash
Keep hands and nails moisturized to avoid the cuticles from overgrowing. Frequent use of nail paint remover, hand sanitisers and harsh soaps can result in the dryness of cuticles along with nails. Keep nails short, trim them regularly and wash hands for at least 20 seconds and then moisturize them, This will make the chance of diseases slimmer and can prevent any kind of viruses. KAI India nail clipper comes with unique features like 100 per cent stainless steel, nail filer, grime remover, nail tray and non-chromium coating making them safe and most effective for maintaining proper nail hygiene.
Here are some of the more ways through which we can keep our nail hygiene intact, thereby protecting it from the damage to nails:
* Stay away from chewing fingernails: It has the potential of damaging the nail bed as a minor cut can cause infection. Moreover, when we bite our nails, germs enter our mouths directly.
* Be gentle towards hangnails: Never pull off your hangnails. Rather, be gentle towards them and carefully clip them off. Stop using those products which are harsh on nails. Always go for acetone-free products.
* Go for a regular nail checkup: If you have a persistent nail problem, consult a doctor or dermatologist for an evaluation.
* Do not share: Try not to share your nail clipper, as they contain germs. Wash the nail clipper with lukewarm water and wipe with a soft cloth. (IANS/ MBI)
Keywords: Nails, hygiene, covid, clipper, products, infections
Gambling has always been one of the most popular sports among people. It is not limited to one group of people, the sport doesn't require the players to have any qualifications besides being a certain age and above depending on the country, men, women, young, old, wherever you come from, whoever you are, we're all equal as players on a casino table. Many casinos now have online sites for their players to enjoy the games at their comfort and leisure.
Online Casino games have become one of the best ways for people to spend their free time. Especially during the pandemic when the world was put under lockdown casinos shifted online and the punters have enjoyed the same entertainment and excitement sitting at their homes. Online gambling games are becoming increasingly popular in the 21st century because this generation prefers to spend time indoors with their online friends. This has inevitably led to the creation of thousands of games to fulfil the rising demand of millions of online players.
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So, what is the reason why Online Casino Games are so popular?
Online Gambling platforms offer hundreds of casino games for the player to choose from that too from some of the best providers in the industry. They provide you with a range of games like baccarat, blackjack, slots, poker and many more. Being online also means that a player can go straight into the game without having to wait for their turn. One can freely enjoy the experience of an actual casino without getting out of their house.
Online Gambling platforms offer hundreds of casino gamesPixabay
Online gaming platforms understand the doubts of their player regarding making online transactions of money as their afraid of their data being stolen. Thus, to build a trusting relationship with their customers, most platforms make sure that they are secured with encryptions and firewalls to prevent loss of data. To name one BetRivers is one of the platforms which safe and easy to use.
In a land-based casino if run into some problem or need assistance from your host you'll need to stop playing, reach out to the information desk, convey your problem and wait until someone comes to solve your problem which is not the case for online gaming platforms. On just one tap customer service is available 24/7 for their players on online platforms.
Covers a large area
Again, in a land-based casino, a player must go to the building themselves. Some casinos may only have one building while some have their branches in different cities and countries. But online casinos invite players from numerous countries from wherever they are to play the games at their comfort. BetRivers online casinos are available for players from different countries from Pennsylvania, Indiana, Colorado, Illinois, Michigan, Virginia and more
Any person with a tablet, desktop, smartphone and internet connection can easily access the games and play online. Online casinos give the players to enjoy the games at any time and anywhere they like.
Chances of winning
If a player has zero chances of winning one can't call it gambling. Online casino games provide the player with several combinations of risk and rewards where they can lose the money or win the money put on the table. Players have to pay a minimal fee to get a chance to win, the higher the money you put on stakes the higher is the reward for winning. For example, a player can sometimes win an outrageous amount of money while playing slots and in games like blackjack which has the best odds of winning that has a low house edge one can for sure win some amount of money.
The majority of players play casino games to enjoy the adrenaline rush, have fun or simply just casually kill their free time. In today's world, online casinos have emerged as safe, secure, fun, and amazing platforms for player to access their games online and win some profit while playing.
By- Salil Gewali
If humanity is hurt, God is hurt.
Religion without compassion might give way to hatred. Compassion with a "self-interest" motive is completely irreligious. But of late, some of the religions have departed from those basic human values. Love and compassion are for only those who follow their "specific" faith. Very sadly, the religions are up as trading commodities in the world of proselytization. Better preachers attract more followers. Of course, no issue if they are not vying for their religious "supremacy". But the ground reality is utterly different. The claim for exclusive supremacy has become the first commandment --- a real bone of contention among the existing religions. In the name of religion, we have polluted our minds. we have corrupted our souls. We have also gone so much astray that God must have now shut his gateway to heaven!
Are we not too foolish to believe in the twenty-first Century --- my God is different and your God different? If the Sun and the Moon are the same for Islam, Hindu, Buddhist, Christian, by that simple logic, why is the CREATOR of the infinite cosmos not ONE for all? Is the digestive system in the stomach of a Hindu and a Christian different? The body system secrets the same kind of digestive enzymes to digest the food eaten by people of any faith. One divine power is controlling each of us. It is too outrageous that we bear malice and hostility towards others for God. The paths are different but the destination is the same. One wonders in amazement, why we are so "unscientific" in our approach to the Almighty? Why is there so much bad blood among the different faiths? Truly, our fanaticism and belligerence have become the stumbling block in our understanding of the real teachings of the holy scriptures.
Follow NewsGram on Facebook to stay updated.The recent unprecedented brutal atrocities upon Hindus in Bangladesh during the holy festival of Durga Puja made each of us more anxious. It should also serve as a wake-up call for West Bengal and Assam. How could one's holy place of worship provoke godless hatred in others? If God-believing people nurture animosity for others, then that religion itself has been wrongly understood or misinterpreted. Who all are to blame? Is there any organisation of rectitude that will come up to address this glaring fault line?
Brutal atrocities upon Hindus in Bangladesh during the holy festival of Durga Puja made each of us anxiousFile
All should agree that "tolerance to inhumanity" begets more violence. The act of vandalizing the religious pandals of Hindus in Bangladesh is utterly unpardonable. This calls for serious soul-searching. Who has placed the Holy Koran near the sanctum sanctorum of Hanuman Idol? The investigating agency has found out that it was not by Hindu, but some Iqbal Hossain with wrong intent upon the minority Hindus.
Iqbal Hossain, a Muslim, deliberately placed a copy of the Quran at a Puja Pandal and gave hate speeches against HindusFile
Of course, this act is not at all sacrilegious as understood. One holy mandap and another holy book do not make anything unholy. But the "intention" must be good. It is my personal observation. But this incident, a pre-mediated plan with "wrong motive", has stoked the unprecedented communal violence in Bangladesh. And consequently, many places of worship were desecrated, sacred idols were destroyed, houses and business properties of the minority community were burnt down. Besides the United State, even UN officials condemned this diabolical cruelty against the minority Hindus. Tulsi Gabbard, a member of the U.S. House of Representatives, retorted – "God is love, and his true servants embody and manifest that love in this world. It is time for the supposedly secular government of Bangladesh to protect that country's religious minorities from the jihadist forces of hate."
The Hindus in the country are experiencing regular vitriolic attacks from the dogmatic group which is beyond descriptionFile
Hatred for Hindus is not confined to Bangladesh. Even in the home states, Hindus are not at all safe. Kashmir, West Bengal, Assam, Kerala have become the hotbed of crime and violence against Hindus even then being the majority. The Hindus in the country are experiencing regular vitriolic attacks from the dogmatic group which is beyond description. The silence of the unpatriotic media, and other sinister forces have given enough leverage to such extremist elements. It has been established that madrasas are factories where tender minds are radicalized – the fact is passionately reiterated by an eminent social activist Khalid Umar of Lahore, Pakistan. Just two days ago, one boy in Assam posted a photo in which he placed his foot on a Ganesh idol. Such shocking instances with photos and videos are regularly posted on social media. But such cases are suppressed too soon.
Well, one can't agree more than what Human Right Activist and a senior journalist of Bangladesh – Mr Saad Hammadi has said --- "Such repeated attacks against individuals, and destruction of the homes and places of worship of minorities in Bangladesh over the years show that the state has failed in its duty to protect minorities. Targeting religious sensitivities to stoke communal tension is a serious human rights violation and requires immediate and decisive action from the government to address the situation of minorities in the country."
Here one wishes that all people would stand with Mr Saad Hammadi. The hatred and violence should always be vociferously condemned by one and all. No one has the right to hold humanity to ransom. As believers of GOD, all should shake off narrow dogmatism and malice. All need to follow the path that takes us from darkness to light and ignorance to knowledge. The practice of expressing LOVE and COMPASSION for "all" ---- irrespective of caste, creed, and colour, always ensures communal harmony and peace. Not just that, it is the pathway to DIVINITY. If humanity is hurt, God is hurt.
An India-based writer and researcher, Salil Gewali is best known for his research-based work entitled 'Great Minds on India' that has earned worldwide appreciation. Translated into Twelve languages, his book has been edited by a former NASA scientist – Dr AV Murali of Houston, USA.