Wednesday, February 26, 2014

I Don’t Know, Son! – 74

The Bitcoin Facing a Bit of Problem!
Son: Mt. Gox, the world’s biggest bitcoin exchange has disappeared suddenly with its website down, dad.
Father: Go on, son.
Son: Angry investors were left wondering whether exchange was still solvent, dad.
Father: Go on, son.
Son: According to sources, the exchange is in a bit of problem, dad!
Father: Go on, son.
Son: However, they failed to explain the real position as it was difficult for them to coin suitable words, dad!
Father: I don’t know, son!
Old Bank Licence!
Son: The committee headed by former RBI Governor Bimal Jalan has submitted its recommendations on new bank licences to the Reserve Bank of India, dad.
Father: True. Go on son.
Son: A RBI spokesperson is said to have refused to reveal as to when RBI would announce the names of the applicants successful in securing the licences, dad.
Father: Go on, son.
Son: However, he is said to have confidentially revealed that right now one old bank licence is up for grabs, dad!
Father: How come? Which is the bank? Go on, son.
Son: Apparently it appears that he was referring to United Bank of India (UBI), which is in the news for all the wrong reasons, dad!
Father: I don’t know, son!
UBI CMD Resigns for ‘Health’ Reasons!
Son: The CMD of United Bank of India Archana Bhargava has resigned and has opted for voluntary retirement citing health reasons, dad.
Father: True. Go on, son.
Son: While the CMD has not revealed the nature of her sickness, it is reported that the bank is finding it difficult to handle a number of large ‘Sick’ accounts left behind by her, dad!
Father: I don’t know, son!
Blue-eyed Boy to Scapegoat!
Son: The posting of a Bank official as CMD of a PSU bank is treated as a Blue-eyed boy posting all these days, dad.
Father: True. Go on, son.
Son:  Now that the CMD of United Bank of India has resigned, the vacancy is up for grabs, dad.
Father: True. Go on, son.
Son: But it appears none of the Executive Directors of the PSU banks are interested in the once coveted post, dad!
Father: Go on, Son.
Son: Apparently, the post looks like a ‘scapegoat’ posting than a Blue-eyed boy posting, dad!
Father: I don’t know, son!
A V Krishnamurthy
26th February 2014

1 comment:

Govinda Rao said...

Perhaps, the virus of bad loans sanctioned during the last 9 months has directly affected the health of the CMD of UBI.