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THE NPA CONUNDROM

ഈ അടുത്തിടെ   ഉണ്ടായ ചില സംഭവങ്ങളി ൽ പ്രതികരിക്കണം എന്ന് തോന്നിയത് കൊണ്ടാണ്   ഇത് കുറിക്കുന്നത് . ബാങ്കി ൽ നിന്ന് എടുത്ത വായ്പ ...

Wednesday, 26 January 2022

Amendment to lok ayuktha act

 I write this to register my angst and anxiety on the proposed move of the state government to issue ordinance amending the lok ayuktha act, curtailing the power of the lok ayuktha. I am afraid the proposed amendment will take the teeth out of the institution and will defeat the very purpose of establishing the lok ayuktha. The argument of the government that the amendment ia proposed after getting legal opinion from advocate general and to align the act in tune with similar acts of other states has to be taken with a pinch of salt. The move coming from a government which came to power on the promise of offering a corruption free government will be a direct affront to the electorate, i feel. 

I am of the opinion that the act itself has got enough provisions to ensure that the accuses person is given adequate opportunities to defend himself and after that leaving the final decision to the appointing authority will be like handing over the keys to the thief himself . If the persons holding the public office behave honestly , the need for having the institution itself will not arise . 

So axing the quasi judicial powers of the institution will be great blow to the general public and hence I urge upon His  excellency the governor of kerala to persuade the government to desist from the move and also not to sign the ordinance, for which the common man will be highly obliged to him

Thursday, 13 January 2022

The crypto fraud

 Once again the so called 'highly literate' malayali is getting exposed to monetary rackets, thanks to his 'greed' to make a quick buck. ( '₹1200 crore crypto fraud pulle off by keralite with just a website' NIE 12.01.2022). It is quite amazing to learn how such people can be conned so easily by a conman. As such , the crypto currencies are tradeable answers like shares or gold etc to be traded in exchange to really make money, but monkey is able to assess the underlying value of the asset. And in the instant case, the moriscoin is a.new.entrant and yet to be established! The command could lure the prospective investors by assuring a 3% as daily returns! But nobody suspected that he was throwing small fish to catch big fish. This reminds me of a similar operation which was seen in many parts of gujarat in the eighties (when i was there as a banker). These people used to offer house gold appliances like electric iron, mixie etc.at half the market price initially and after some time slowly graduate to charlie items like refrigerator, tv etc. Then they moved into bigger things like.two.wheelers, cars etc for which booking were taken with the half price paid while booking promising delivery in a week to 10 days! And when the d day came, they simply vanished !! Mr Nishad is also trying the same approach by offering the 3% daily return.


The 'learned' malayali, who had experience of 'the blade companies' of.late 70s, 'mail order rackets' of 80s, 'goat/ teak/ manjium' schemes of 90s and 'the e lotteries' of the 2000s have never learnt from these mistakes and still fall for such offers. I feel pity for them . Personally i feel they themselves only are to be blamed and should be arraigned as co culprits in the case filed by police. (For creating unnecessary burden on the system by their foolish act)!