Financial Daily
from THE HINDU group of publications

Monday, July 23, 2001





American Periscope
Oh, those meetings!
HAVE you been to a meeting lately? Now make some important notes. Take a piece of paper and write down the following: a) the time you spent at the meeting, b) rate what was accomplished on a five-point scale, c) the number of people present at the meetin g (put an asterisk against the names of those you would like to strangle if allowed to), and d) is there any other way by which the same purpose could have been accomplished. Within a month, you would have enough data to realize either how useful or what a waste these meetings are.

Banking and Finance
Bank frauds -- Where to draw the line
THE three threats which have become a major nightmare for all banks, in general, and the public sector banks, in particular, are ballooning NPAs, high transaction costs and a sharp increase in the incidence of bank frauds.

Greenspan's testimony and after -- It is now all up to Koizumi
MR ALAN Greenspan offers little comfort though he tried. As testimonies go, the Fed Chairman delivered one of his flattest in this author's memory. I am referring to Mr Greenspan's testimony to the US House Banking Committee on July 18. It was devoid of interest and offered little stimulation to intellect.

Human Development Report 2001 -- India has a lot of catching up to do
THE UNDP's Human Development Report (HDR) 2001 has maintained its tradition. In the 11 years since the first HDR, it has established its pre-eminence in analysing the nuts and bolts of economic growth. Human development is about much more than the rise a nd fall of the national income. It is also about creating an environment in which people can develop their full potential and lead productive, creative lives.

Policy in petridish
THE GOVERNMENT TEAM working on a new drug policy has a thankless task. The policy announced in September 1994 broadly had the objectives of ensuring abundant supply at reasonable price, encouraging research and creating an environment for investment.

History to order
BAD news for South Korea and China: Japan has pointblank turned down their insistent as well as persistent pleas not to doctor history in its textbooks. The rebuff is understandable and predictable. It is naive and unrealistic on the part of China and So uth Korea to urge Japan to include in textbooks for middle school students gory accounts of its wartime atrocities, or the forced sexual enslavement of tens of thousands of women in occupied territories, or the harsh and cruel treatment of the people dur ing the 35-year Japanese occupation of Korea.

Prairie fire from Nepal
THE Maoists of Nepal, who have stepped up their attacks on the Nepalese Police since July 1, see their armed struggle, based on Marxism-Leninism-Maoism, from three perspectives -- the international, the Nepalese and the Indian.

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