Bright day or dark night, no kasamusa escapes my sight! I loiter on @theotherbanana & have lots of #AnanthaProblems! (Note: I'm *NOT* lyricist Anantha Sriram!)
Chennai, India
Joined April 2007
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Anantha (#DestroytheAadhaar) retweeted
हमने सब लोगों से कहा कि जब आप मार्च और महारैली के लिए यहां आएंगे, चीजें खरीदें, खरीदारी करें।
मगर, यहां Connaught Place में आते हुए हमें पता लगा कि BJP ने सारी की सारी दुकानें जबरदस्ती बंद करवा दी।
तो traders का नुकसान कौन कर रहा है, कैसे हो रहा है, यह आप जान लीजिए!
Anantha (#DestroytheAadhaar) retweeted
To celebrate 10 years since my first Gymkhana Grid (and my win 😉) I’m giving away 3 models of my Xsara from the event, as well as a figure of myself thanks to Sunstar Models!
For your chance to win, just like and retweet this post before midnight CET on 4 Nov - good luck! 🤞
Anantha (#DestroytheAadhaar) retweeted
The entire #NPCI, #CIC API surfaces have to be publicly audited for their ability to impact banks.
For a decade, consumers data flew freely to 3rd party fintech brazenly impacting privacy. Same access now address banks.
#CashlessConsumer will track cyber.cashlessconsumer.in
India's RBI tightens cyber checks on lenders after spate of hacks.
In particular, RBI is warning about the risk in APIs - the software links banks use to connect with non-bank lenders and fintechs, Reuters @AshwinM_ reports.
reuters.com/legal/litigation…
Anantha (#DestroytheAadhaar) retweeted
If the sale of IDBI is evaluated on the same lines as 2G scam, this is easily a scandal of epic proportion!
businessworld.in/article/sen…
Anantha (#DestroytheAadhaar) retweeted
So how this IDBI "Scrap sellout theory' actually makes sense, if you first stop trusting blindly the official PR statements.
Step 1: Mr. A wants a bank, but RBI blocks them as it has an absolute ban on big industrial houses owning commercial banks bcoz they dont want companies printing money to fund their own projects. Mr. A literally cannot buy a bank legally.
Step 2: A separate entity is a perfect shield, it is a Canadian institutional investor. RBI trusts them, cleared them to buy a huge 60.72% controlling stake in IDBI Bank.
Step 3: Now a MITRA in govt reshaped the rules. It rejected the first round of bids for IDBI Bank and magically changed the process to a second "best-offer" round that cleared Pairfax.
Speculation-> this was ENGINEERED to hand the bank to a friendly foreign buffer who wouldn't trigger MONOPOLY ALARMS. So, no need for a formal takeover to pull this off. Pairfax doesn't need to sell the bank to Mr. A. Instead, they can set up a "SYNTHETIC CONTROL" deal.
Pairfax keeps the banking license on paper to satisfy the RBI, while THE GIANT routes their entire infra empire, supply chains and their consumer app directly through the acquired BANK.
It seems the ultimate liquidity loop. CORPORATE GIANT is funding a massive $100 billion infra expansion. Now what does an infrastructure empire need most? CHEAP CASH. A big commercial bank sits on a goldmine of low-cost public deposits. Thats what he wants.
By using Pairfax as the front, GIANT gets access to a massive funding engine without ever having to put their name on the banking license. @mkvenu1 @palakshahjourno
#IDBINotForSale #IDBISaleScam
fairfax canada is the intermediate buyer, wait for next 2 to 3 years, you will know the original buyer, its the same person, now entering the banking sector to grab indian banks, ... after grabbing all ports , airports, power plants, forests, mines...
@mkvenu1
Anantha (#DestroytheAadhaar) retweeted
Well, well, well… Amitabh Kant, the man who headed the Modi government’s flop initiatives like Make in India and Startup India, is currently working as a Senior Adviser at Fairfax Holdings.
Now we can imagine what fate awaits IDBI’s strategic stake sale to Fairfax.
Anantha (#DestroytheAadhaar) retweeted
Fox: Why are you here this morning?
Trump rally attendee: Well, in the late 70s, I was a little too young to go to South America for the Jonestown Massacre. But this is as close as I'll ever get, so that's why I'm here. There's nothing like seeing a cult right up front.
Anantha (#DestroytheAadhaar) retweeted
Business World magazine has a sensational scoop based on the internal minutes of a Committee of Secretaries on Disinvestment showing how rules were changed for the controversial privatisation of IDBI Bank which was sold to Canada based Fairfax Financial Holdings at Rs 52,878 crore ($5.55 billion) at Rs 81 per share.
The internal minutes state that the initial sealed bids from Fairfax and another entity came well below the confidentially set minimum reserve price of Rs 94.42. The Fairfax bids came at Rs 75. So what do the babus do? They pull off something unprecedented but do it openly and transparently. They move to another valuation method and ask Fairfax and another bidder (strangely not named because it was later rejected by Home Ministry for security reasons!) to give new bids. This time Fairfax bids Rs 81 per share , still well below the original reserve price of Rs. 94.42. Then Fairfax says this is the final offer and it would withdraw if not accepted. The government accepts it and also gives some relief on disputed tax claims on IDBI Bank. Tax payer also makes a hefty contribution here!
The deal goes through at Rs 81 per share(the original reserve price was Rs 94.42) and the internal note strangely gives reasons why this sale was necessary for the government at this juncture- Fiscal stress on Centre due to high energy prices, lack of FDI inflows and the currency under strain because of the global energy crises!
As per Business World report the justification for change of rules and methodology for the sale of IDBI Bank came from the General Financial Rules for sale of government physical assets but not shares. Then it cites the Railway Stores Code on auctioning scrap:
"Bids lower than the reserve prices may, however, be accepted by the Depot Officer where found expedient provided the Depot Officer doing so records his reasons in writing."
In my 40 years of journalism I have not come across such justification for privatisation.
Business World's Palak Shah must be commended for this investigation.
I think only the partial/overhead section between Kalena Agrahara and Tavarkare can be inaugurated The underground sections are still WIP for at least 6 more months. Which means waiting for Dear Leader's busy overseas holiday schedule to clear up for this is sheer stupidity.
