Yesterday a JD (U) member of the parliament made a detailed speech on the money corporates owe the public sector banks. Mind you, Public sector banks not only has deposits of people, it is also re-financed occasionally with tax payers money. Any loss the PSU makes, the tax payer eventually shares the burden. So what do the numbers say?
1.) The PSU has lent 5 lakh crores to the corporates while 1.4 lakh crores to 5 companies alone including that Adani Group and Suzlon Energy
2.) State Bank Of India has reported a huge slump in the profits (more than 60%) in the back drop of Rs 20,000 crores of bad loans
3.) The gross NPA (NonPerforming Assets) plus standard restructured advances, as a percentage of advances moved up to 11.3 per cent as on September 2015 as compared to 9.2 percent in March 2013.
4.) The debt value of Adani Group alone is Rs 72,000 crores which equal the debt burden of all the farmers in India.
Bank – Politician – Business Matrix
Businessmen contribute handsomely to election campaigns of various political parties, the political parties inturn repay the faith by using their clout in forcing the Public Sector Banks where the government has majority stakes in asked to lend to the very generous donors who contributed to the campaign. It is not doom and gloom until this point, at the end of the banks job is to lend money to businesses. Businessmen who are close to the ruling political class have never taken seriously to return the money they borrowed to public sector banks. Two reasons precisely for that
1.) The businessmen, when they don’t return the money, are usually made to go through a debt restructuring plan which would involve a generous reduction in interest rates or equity in the assets acquired from the borrowed money among other options.
2.) The government with its majority stakes in Public sector banks have to re-finance the banks if in the case of a downturn in fortunes of the PSB’s. Refinancing of Banks incase of poor performance happens from tax payers money.
Need of the hour
1.) The structure of businesses financing political parties for their campaigns should come to an end. The campaign funding and spending are where the crux of the problem is. The election commission should create a common platform where political parties can showcase their ideas for a nation. Campaign funding is where corruption seems to begin.
2.) Independent RBI – The incumbent governor Raghuram Rajan is on the dot in asking the Banks to balance their books and reduce their NPA’s so that there are growth and profits for banks in the medium term and long term. An independent RBI has been the last line of defense for a poor monetary policy. And this independence of the institution is to be maintained if not strengthened.
The Logical Indian seeks Election Commission’s and Judiciary’s intervention in breaking the Bank – Politician – Businessmen matrix by bringing about drastic electoral reforms. We request the Public sector banks to lend wisely and give high priority to lend to the poor, farmers and help them in making their way up in the economic ladder for a better life.
Even at 76, Pradip Burman, the zestful chairman of Mobius Foundation radiates a contagious enthusiasm when he is talking about sustainability. The environmental crusader, better known to many as the great-grandson of Dabur founder Dr S.K.Burman, has devoted substantial attention towards promoting the concept of sustainability in all aspects of life. He refuses to conform to the convenience and comfort in today’s world which ultimately adds on to the adverse effects of climate change.
Talking to The Logical Indian, Burman emphasised why sustainability as a concept is indispensable for us. “We ought to be aware of what lies ahead of us. Soon we will finish the oil, iron, tin, and coal, and our next generations will be left with nothing. Recycling, banning plastics, stop felling trees for paper… This should become a part of everyone’s lifestyle,” he urges.
Traditional wisdom and modern research
A mechanical engineer from Massachusetts Institute of Technology (MIT), USA, Burman had always nurtured a keen interest in helping the society, as evident from his graduation project of designing a sonic aid for the visually challenged, which detected obstacles in the way using ultrasonic wave signals.
As an executive for the nature-centric company Dabur, Burman has always opted for natural alternatives to solve his everyday problems like taking Ayurvedic medicine to cure his Arthritis. He later launched the veterinary wing for Dabur – Ayurvet – which provides nature-friendly solutions for animal health care.
A patron of the ancient scientific wisdom of India, Burman always hailed the confluence of “traditional knowledge and modern research”, which he advocated as the Ayurvet motto.
As part of the CSR initiative of Dabur, Pradip Burman founded SUNDESH (Sustainable Development Society) which has been tirelessly working for last 25 years in remote villages for uplifting the rural communities in an environmentally sustainable way.
An advocate of sustainability
Burman believes that sustainability is the indispensable mantra for the world at present. Due to uncontrolled utilisation of the planet’s resources by human beings, the world today stands at a juncture of destabilisation. Today the human race has reached the pinnacle of progress but the advancement is happening in a very unsustainable manner.
Through energy-efficient use of everyday essentials like transport, communication, altered habits of diet, clothing and daily living, some crusaders of sustainability try to reduce their carbon footprint. Pradip Burman’s Mobius Foundation is one of the forerunners toward sustainability goals.
Mobius Foundation aims to change the sustainability dynamics
In 2015, Burman paved the way for the start of Mobius Foundation, focused on sustainability. Named after 18th-century German mathematician August Ferdinand Mobius, the famous Mobius strip has an important philosophical significance. The extraordinary shape symbolises balance and union.
Similar is the essence of Mobius Foundation which wishes to enhance the “Reduce, Reuse, Recycle” principle to a widespread basis in India, helping generations to come.
Founder Pradip Burman wishes to achieve notable development in education, population stabilisation and renewable energy projects.
A dream school in the making
At Coorg, Pradip Burman’s Mobius Foundation is constructing the World Environment School, Coorg (WESc) where the curriculum will surpass the boundaries of books and classrooms, with a special focus on hands-on learning in close collaboration with the environment. Amidst the pristine natural beauty of Coorg, the school will nurture young minds to grow up into future green leaders. As of now, the school will be open to teenagers, welcoming students from standards 6 to 12.
Needless to say, World Environment School will be the first-of-its-kind not only in India but also in entire South Asia. The school is expected to start from March 2020.
The school promises to nurture the responsible behaviour of citizens of our future.
The Sustainability Conference of 2019
In 2019, the Mobius Foundation has planned an international conference, on the lines of the celebrated earth summits over the past decade. The 2019 International Conference on Sustainability Education (ICSE 2019) aims to bring together environmental activists, practitioners of sustainable development as well as climate change experts to help develop a sustainability-focused curriculum.
It is surmised that the conference will give a platform to innovative concepts of Sustainability Education including an essential change in the existing education system ensuring a wholesome personal development for a student.
The Sustainability crusader
The Mobius founder strongly believes that it is high time to sprout sustainability awareness among a society drowning in consumerism and unknowingly doing irreparable harm to the planet, every second. The best way to achieve this goal is through education which is available to all. At present, the education system is predominantly career-oriented, making the learners a victim of materialism, and thus, their dreams are also outlined in those colours.
Living beyond the limits
When asked about his wish to attain the age of hundred, he strongly asserts that more than becoming a centurion, he wishes his life and work continue to better the society even in his absence. “I have lived my life. I wish that whatever I start before I go, will continue – for the betterment of my country,” says Mr Pradip Burman.
He is also a trustee of the Climate Reality Project – India (affiliated to Mr. Al Gore of the Climate Reality Project Foundation, USA). Climate Reality Project, India, has been actively engaged igniting the spark and spreading the message of climate change amongst educators, policy makers and civil society. The India branch looks after more than 500 trained Climate Leaders, and more than 900 volunteers spread all over the country.
In his journey, Pradip Burman has been a beacon of hope for millions, motivating many to join the movement for sustainability. We wish he continues his tireless efforts for promoting sustainability awareness and inspire generations to come.