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  COVID - NEED OF THE HOUR Good morning Friends,  Lie, bloody lie and statistics is what we used to say when we studied statistics.  While using it for past events might be useful depending on the variants used in numerator and denominator, it will conceal the seriousness of issue when used for current events.  For Example:  1. No. of persons affected in COVID as on 8th May 2021: 2.15 cr.       No. of deaths: 2.34 lacs       Percentage of death: 1.09%  2.   No. of persons affected in COVID as on 1st June 2021: 2.81 cr       No. of deaths: 3.29 lacs     Percentage of death: 1.17%  If you do not recollect 8th May figures, you will feel the percentage of death is less in India. But in the last 23 days, the number of deaths is 95000 which works out to 40% more than what was the number of deaths recorded from Mar 2020 to May 2021(14 months) (2.34 lacs).   (Even if you compa...

  CORPORATE GOVERNANCE IN COMMERCIAL BANKS (Edited version of this article appeared in business line on 24.05.2012. The link is  https://www.thehindubusinessline.com/money-and-banking/banks-must-swear-by-rbis-norms-on-governance/article34628641.ece?utm_campaign=amp_article_share&utm_medium=referral&utm_source=whatsapp.com  ) Reserve Bank of India has informed that a Master Direction on governance in commercial banks, based on the “Discussion Paper on Governance in Commercial banks in India” (discussion paper), will be issued in due course. As an immediate measure, the regulator issued operative guidelines with regard to appointments of MD & CEO, WTD (Whole time Director), Chairperson, NEDs (Non-Executive Directors) and composition of important committees like ACB, RMCB, NRC, etc. A brief on the Discussion Paper: In this regard, the main objective of the discussion paper (according to RBI), is to align current regulatory framework with global best practice...