Banking

 I have received some comments from some of my connections on incidence of poverty of India . Without going into the details, I am sharing some of the initiatives of last decade, which have improved the lives of people of lowest strata of society. Few pointers which can substantiate the reduction in incidence of poverty may be: I- Highly subsidised PM Gramin Awas Yojana to close to 3.5 cr families with average of 4 members benefitting 14 cr people, who have saved a lot on annual maintenance of houses and losses due to rains and storms, thus increasing their disposable income. Similarly close to 3 cr housing units under PM Sahari Awas Yojana benefitting 12 cr people. 2- Electrification of all villages (excluding some small hamlets) has increased their working hours.  3- With rapid expansion of Self Help Groups under NRLM and NULM with close to one crore groups having 10 cr members impacting close to 40 cr people. 4- Interventions social, educational, medical and financial in id...

 INDIAN GROWTH STORY- NEW INTERNATIONAL     POVERTY LINE  World Bank introduced the concept of International Poverty Line in 1990 to capture the daily cost for a person to meet their basic needs, which was fixed at $ 1 for low income group. This limit was revised in 2008, 2015, 2022 and recently in 2025 taking it to $ 3 from $ 2.15. The same is now $ 4.20 and $ 8.40 raised from $ 3.65 and $ 6.85 respectively for Lower Middle Income Countries (LMIC) and Upper Middle Income Countries (UMIC) respectively. World Bank, in its Spring 2025-Poverty and Equity Brief, highlighted India’s significant leap in reduction of extreme poverty from 16.20% in 2011-12 to 2.30% in 2022-23 at $ 2.15 per day per person with absolute reduction of 170 million from 205 million in 2011-12 to 34 million in 2022-23. Even at current extreme poverty line of $ 3, it is at 75 million which is 5.25% thus effectively uplifting 121 million people. With the perspective of Lower Middle Income Countries (...

  An Interaction with Chief Minister of Uttar Pradesh  Pleasure of having a meeting with Honourable Chief Minister of Uttar Pradesh after two years. Interacting on various issues of national and state economy. Thrust of the government on generating employment and income generating activities in rural areas with fine blend of big industries especially two defence corridors will have wide ranging impact on the development of the state. The investment of road infrastructure has already started yielding results. Undoubtedly the State is poised for higher growth. I also presented my book “Banker by Chance, Leader by Choice” to Hon’ble Chief Minister.

 AWAM KI AWAJ- My Interaction with Doordarshan Uttar Pradesh My interaction with Doordarshan Urrat Pradesh will be relayed today at 9.00 PM. The main theme was my journey of last three and half decades. It was very interesting and insightful to interact with the viewers / participants of the program. Please join the programme and share your feedback. My heartfelt gratitude to Doordarshan Uttar Pradesh, Program Head Shri A P Mishra, participants and viewers.

  Awam Ki Awaj by Doordarshan, Lucknow  Doordarshan Lucknow invited me for the program Awam ki Awaj. Here are some glimpses of the program. My heartfelt gratitude to Doordarshan Lucknow and Program Head Shri A P Mishra Ji, who organised and hosted the program. The program will be relayed on Saturday 06/07/2024 on Doordarshan, Lucknow 

                                   Petrodollar- Some Thoughts Fifty years old US - Saudi Petrodollar deal has come to an end. The fifty year old deal, from the perspective of 1970’s, was having far reaching influence on global dynamics of both, the supply and pricing of energy. At that point of time US was having more than 30% of global GDP and Saudi Arabia having more than 30% oil supply in its control. Furthermore ending of dollar gold parity in 1971-72, created a trust issue globally.  The situation has now significantly changed in last five decades: I- USSR has disintegrated and China has become the second largest economy. This has significantly changed the global political dynamics. II- Developing countries are emerging as economic hot spots in global scenario. III- US share in global GDP and Saudi Arabia share in oil have come below 20%, significantly less than 1970’s. IV- The prominent ...