The history of CG and its functioning does give us some lessons. First, we should avoid multiple agencies handling different CGs. Second, the RBI or RBI-governed institutions generally fare better at financial tasks compared to the government and its agencies. The government should closely work with the RBI and heed its advice on not just CGs but other aspects of the fiscal stimulus as well, which relies greatly on the banking system. Third, we should be careful of moral hazard problems. This does not imply that one should not lend, fearing moral hazard. It is just that CG should not result in loan appraisals and follow-up not being done properly. Indian banking is already struggling with high NPAs and banks should take care to avoid any further rise. … [Read more...] about Credit guarantees of 1970s make a comeback
Mob boss turned informant
Know what to say when emotions run high Uncertainty and stress can trigger conflicted behavior, even in the most collected individuals. Schneiderman says if an employee is angry, the manager should allow the employee to express their feelings without judgment. “It can help if the manager says, ‘I know this is difficult news to hear,’ in a lowered tone to help to de-escalate the situation,” she suggests. The statement also sends the message that there is no changing the decision. Schneiderman cautions not to agree with the employee or apologize. “It can make them think they are a victim of wrongdoing, which opens the company up to litigation,” she says. “Don’t counsel the employee, tell them that this is a blessing, or they’ll be better off in the long run,” Schneiderman adds. … [Read more...] about This is what a compassionate layoff looks like
For India, experts have said, banking on Herd Immunity is a “terrible idea”. While speaking to former Congress chief Rahul Gandhi, Director of Harvard Global Health Institute Ashish Jha said, “We are finding that even healthy and young people are getting very ill. We can’t be cavalier about this. We have to protect these people. Herd Immunity in India is a terrible idea as millions will die, even young people.” … [Read more...] about In-Depth: Is Herd Immunity our best bet in the fight against coronavirus?
COVID-19 led to a nationwide lockdown from March 25 and factories across the country were temporarily shut down. With no source of livelihood in urban areas, workers went back to their home locations once special trains were arranged by the Indian railways from May 1 onwards. Several others either went by foot, buses or by private transport. … [Read more...] about COVID-19 impact | Re-mobilisation of workforce at project sites an arduous task: Voltas
There’s little doubt that Cosmopolis comes across as odd. In a New Yorker review, John Updike commented on its lack of empathy, adding that “the trouble with a tale where anything can happen is that somehow nothing happens”. More savagely, Michiko Kakutani wrote in the New York Times that it was hokey and contrived, “a major dud, as lugubrious and heavy-handed as a bad Wim Wenders film, as dated as an old issue of Interview magazine”. (The 2011 film version by David Cronenberg was somewhat better received.) … [Read more...] about Reading Don Delillo’s ‘Cosmopolis’ during social and financial uncertainty