Archive for March 26th, 2018

India does not need Bombay Club version 2.0 (remembering Bombay Plan of 1944-45 too..)

March 26, 2018

Sharp Mint edit which says we should say no to Bombay Club 2.0:


45 years of Chipko movement (it actually started in 1730)..

March 26, 2018

Brilliant stuff from Google as they celebrate the 45th anniversary of Chipko movement.

Google on Monday celebrated the 45th anniversary of the Chipko Movement – the non-violent resistance by mostly local women to protect the forests of Uttar Pradesh. The sections of the forests where the movement took place are now in Uttarakhand.

The movement began in Chamoli district in 1973 against trees being felled for wood and infrastructure development, and it soon spread to other Himalayan states. The drive was called chipko, or embrace, as villagers hugged the trees and formed circles around them to save them from being cut.

Google’s doodle, by artists Svabhu Kohli and Viplov Singh, not only illustrates the movement but also its main participants – the local women who took part in the campaign in large numbers as they would be directly affected by the lack of firewood and water that deforestation causes.

“The Chipko Andolan stands out as an eco-feminist movement,” Google said. “Women formed the nucleus of the movement.”

Environmentalist and Gandhian activist Chandi Prasad Bhatt led the first Chipko movement. The campaign began near the village of Mandal, where villagers, denied a piece of land because of a government policy, were angry after the plot was given to a sporting goods manufacturer. The villagers appealed to authorities but marched into the forest and hugged the trees to protect them when their pleas had no effect. Days later, the government was forced to cancel the company’s logging permit.

Another activist, Sunderlal Bahuguna, also played a major role in helping the movement spread and educating villagers about the forests and Himalayan mountains. His efforts resulted in then Prime Minister Indira Gandhi banning deforestation.

However, the original Chipko movement goes back to 18th century Rajasthan, when a group of 363 people from 84 villages, led by a local woman named Amrita Devi, died to protect the khejri trees in the region that the king of Jodhpur had ordered cut down. The king later relented and revoked his order.

This piece written in 2016 argues why Uttarakhand needs another Chipko movement. Well, not just the hilly state, the entire country needs it given how green cover is diminishing around us…

Earlier articles said to learn investing lessons from Dravid, now they are asking Dravid to learn the lessons!

March 26, 2018

No words are sufficient and do justice to Rahul Dravid’s conduct on and off the field. These guys (Laxman, Tendulkar, Sangakara etc) played the game in utmost spirit no matter what the pressures. Last few days have seen cricket slip to a new low  standard and one could have learnt a few things from these guys.

Anyways, this piece is less about cricket and more about personal finances.

When Dravid retired and even later, there were articles on how one should learn personal finance lessons from Dravid. See this for instance:


Women on banknotes are associated with greater gender equality (what about banknotes in India?)

March 26, 2018

Hansika Kapoor in this superb Mint Sunday piece looks at images on banknotes. More specifically, she analyses whether having women on banknotes in different countries also reflects in higher gender equality.

There does seem to be an association:


Slovenia’s central bank governor quits after death threats

March 26, 2018

All kinds of things happening in monetary world. I had pointed how the Ukraine central bank’s governor got coffins outside the office.

Last week, Boštjan Jazbec, the Governor of Slovenia central bank quit due to death threats:


Reserve Bank of New Zealand to consider employment alongside price stability: End of an era?

March 26, 2018

Reserve Bank of New Zealand questioned and changed the thinking on central banking by adopting inflation targets in 1989. The central bank only focused on price stability in its mandate.

After nearly 30 years, there were talks of  reviewing the mandate and adding employment to the inflation. It has been made official now and in the new agreement  signed between the government and central bank, adds employment to the mandate as well. This brings an end to an era when central banks only focused on price stability and adopted inflation targets for achieving the same. Though, Price stability will still be the major objective but it is not the only objective anymore.

The press release says:


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