tag:blogger.com,1999:blog-19413018.post786429614093548696..comments2024-03-27T14:34:48.906+05:30Comments on Solutions to Change: Moneylending in Kerala and the Unjustifiable Gimmicks of the State CPPRhttp://www.blogger.com/profile/11961394035175144916noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-19413018.post-70124167485237835462019-02-05T15:01:57.669+05:302019-02-05T15:01:57.669+05:30nice...
e-bankingnice...<br /><br /><a href="https://www.merrchant.com/blog/e-banking-meaning-advantages-and-disadvantages/" rel="nofollow">e-banking</a>surbhiralettahttps://www.blogger.com/profile/02317986881358526943noreply@blogger.comtag:blogger.com,1999:blog-19413018.post-54679196031501936112014-05-30T10:56:14.220+05:302014-05-30T10:56:14.220+05:30Dear Sidharthan,
Thanks for the comments. I have ...Dear Sidharthan,<br /><br />Thanks for the comments. I have the following questions.<br /><br />1) How far should the state delay its activities (is there a justifiable time frame)? <br />2) Is there any way reason not to link this delay with the strengthening of money lending mafias in Kerala?<br />3) The reasons given from 1 to 5 shows why the money lending market would have thrived (if you read the paragraphs above the reasons more clearly) and is not a direct explanation of the desirability question. However, in the context of these reasons the desirability question emerges.<br />Before understanding at least these 'shallow'(as you said) possibilities the state ha continued its lacklustre attitude.<br />4) I am not sure of the term UNFAIR. Is it because they were forced to take up this business or is it because they were allowed by authorities to mature into full time goondas. In both cases please help me out with an alternative suggestion or explanation.<br />5) Not sure how you could speak for me when you say that I have called the money lenders act as unreasonable. In fact I have tried to focus on the lack of implementation of this act by the state as one of the reasons for the current state of affairs. You can read the third line in the first paragraph.<br /><br />Appreciate your comments. Thanks<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19413018.post-47598077919329495442014-05-29T11:17:43.842+05:302014-05-29T11:17:43.842+05:30"Let’s get this notion out of our minds that ..."Let’s get this notion out of our minds that we have a free and fair state. "<br /><br />nobody has such a notionsidharthannoreply@blogger.comtag:blogger.com,1999:blog-19413018.post-63085174285901669872014-05-29T11:14:04.763+05:302014-05-29T11:14:04.763+05:30The logical vaccum of this piece is matched in its...The logical vaccum of this piece is matched in its emptiness only by the poorely reasoned attempt to call for less and less state intervention in the economy. You raise the questio "whether the current operation is justified" and to arrive at a no, the first reason given is "because it was nothing more than a delayed intervention from the state of Kerala." Does it then mean that if there is a delay, then intervention is undesirable? <br /><br />While it is understandable that the market may continue to thrive, and hence intervention(s) of different sorts are required, how can that justify a decree that the current intervention is undersirable?<br /><br />Following this, four paragraphs, which are suggested to be the reasons for the undersirability of the intervention are given. Now, all of these four paragraphs are good descriptions of the reasons and the processess that created the current situation. But none of them point towards the undesirability of the current form of intervenion!<br /><br />In the fifth paragraph you state that "A more important question concerns the freedom of individuals to adopt alternative and fair lending and borrowing practices." The analytical shallowness is fully visible when you state "The more the number of restrictions the greater the trade-off between freedom and fairness." and that "he more strangled you are, the greater would be your attempt to free yourself at all cost." While this statement essentially points towards the buisiness man, like a frog jumping from one point to the other, you take a leap out of context to state that "When your freedom to access facilities including banking are restricted by a large number of requirements, you think less about the fairness of accessing it through alternative (legally forbidden) sources" - which is the consumer. SOme kind of continuity of context would have been desirable<br /><br /><br />"So whom do we blame and put in jails, the alternate sources who filled the requirements or the state itself which were majorly responsible for restricting this freedom to borrow. "<br /><br />The point is, we are putting in jails those guys who were UNFAIR in the way they dealt in thier business. Only a crony free marketeir can support an argument for the lest restrictions on capital - which ny now I assume you are!<br /><br />While you have logic on your side when you enlist the factors that lead to the growth of the money lender - principally inaccessible banking terms, there is very little logic in making an assumption that for that reason an UNFAIR money lender must be allowed to go scot free.<br /><br />Further, those "stringent laws in extending money" which you argue "needs to be eased" is what saved your and mine asses in 2008 when the major banks on the other side of the world went to the sky!!<br /><br /><br />If you think that the Money Lenders Act, 1958 is an unreasonalbe piece of legislation, give some reasons for it. Atleat go throug the Act once before you criticise.<br /><br />..and while eagerness to please your masters is understandable, dont forget to pay some attention to logic and the context in which principles are articualted.sidharthannoreply@blogger.comtag:blogger.com,1999:blog-19413018.post-56619885336101081962014-05-29T10:50:04.038+05:302014-05-29T10:50:04.038+05:30There are many NBFCs and Cooperative Banks are op...There are many NBFCs and Cooperative Banks are operating in Kerala. If the money lenders are edge of these institutions, it means these institutions failed. One has to find the reasons why have they failed? I strongly believe that RBI and State have to work in tandem to work on the innovative and specialised sectoral approaches in banking.Time to go beyond the firewalls of conservative banking operations.Anonymoushttps://www.blogger.com/profile/15325404040769278150noreply@blogger.com