TRUE VIRTUSO

Date :21-Aug-2019

ENDURING virtue was the most endearing facet of famed composer Khayyam’s personality. Even as people grieve his loss at the ripe old age of 92, everybody recalls how he built great compositions for Hindi movies. That he created music to adorn poetry, was his official job for which Khayyam won many an acclaim. But at heart, he was himself a poet, capable of picking up rare nuances of human nature and highlighting those in music. Many of the films -- like Umrao Jaan, Heer Ranjha, Kabhi Kabhie, Shola Aur Shabnam etc -- earned him a great fame. But beyond those famous works, Khayyam also made a lot of memorable contribution on a continuous basis to countless other films. One of his very endearing facets was his willingness to lend a helping hand to anybody who sought it. Iconic singer Mohammad Rafi had once said to a music critic that he considered his good fortune to sing for Khayyam. If great compositions were his strength, basic human goodness was the core of Khayyam’s personality. He belonged to a rare class with few equals.

TAPPING GROWTH

THE staccato cuts in repo rate in last four bi-monthly monetary policy by the Reserve Bank of India (RBI) were clear indications of the economic slowdown expected by the Government in the coming months. With global surveys also expecting a big effect of recession on major economies like the United States in 2020-21, India also needs some quick precautionary measures to stoke growth that can sustain the looming slowdown. RBI Governor Mr. Shaktikanta Das has admitted the slowdown in economy and has tasked Indian banking system to accord top priority to growth for financial stability. It is a big ask for the Public Sector Banks that are already reeling under the burden on Non-Performing Assets (NPAs). Geopolitical and trade tensions are bound to influence Indian economy. A softer approach by the apex bank towards PSBs in lending rates and NPAs would help the banks access the capital market and provide a much-needed succor to business community. A consolidated response can only spur growth.