Time Scale or Stock Option?

Things change over time. Generations have been witnessing change in many aspects of life. Advancement in communications has led to sea change in Trade and Commerce just as in any other walk of life. 

Fifty or sixty years ago, one of the major problem confronting youth in independent India as well as in other parts of the world was unemployment. Second World War had destroyed economies of most of the countries in the world. Countries taking direct part in the war suffered worst damage. Even the other countries which did not take part in the war directly suffered as well. Many of the able bodied young men were either killed or wounded in the war, especially in Europe. Agricultural lands became barren due to vagaries of war and no crops being grown for five to six years. End of the war resulted in loss of several jobs as well. Unemployment emerged as a major issue all over the world. Efforts to stimulate the economies and create jobs became the primary goal of administrations throughout the globe.

Governments were the major employment providers in those years. Finding a job in some government wing provided a stable and regular income for workers and their families. Manufacturing industries came in next and provided thousands of jobs. These jobs also offered post-retirement benefits in the form of pension and provident fund benefits. A young man who got a job in a government department or a factory was believed to have settled in life. Parents heaved a sigh of relief. As most of the women folk still remained housewives, girls were not competing for a share in the job market. Lower education level among girls in many countries also contributed to this. Getting a secure job led to immediate marriage. This led to One Life - One Job - One Wife life cycle. Get a job in the 20s, work for another 40 years in the same job and retire first from the job and then from life became the norm.

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Severe competition in the job market ensured that the employer decided what to pay. The candidates seeking employment were happy to get a job first. Total emoluments were far from the issue of reckoning while joining the job. A passenger standing in a bus stop would like to get on the foot board of a crowded bus and get moving. Once on the foot board, he would push his way to find a standing space inside the safety of the bus. Once standing inside the bus, the next goal is to find a two-by-three or three-by-four seat. Once that is secured, window seat would be coveted. This was true of securing jobs as well. May be a temporary job at first, then quasi-permanency and finally a confirmed job. Then the role of trade unions came to bargain for better rights. Employers decided what should be the pay and which are the grades of employees. 

All employees were paid equal salary at a particular level of work. Seniority became an important distinguishing factor now. All employees working at the same job description were paid equally, but there had to be a small distinction between someone who joined that level now and someone else who did the same job for several years. Annual increments and Time Scale ensured that this was taken care of. At a particular level, all employees got the same salary with a small fixed raise each year called increment, which continued for 20 or 25 years known as time scale. Horses and donkeys were paid the same salaries. Even bargaining trade unions were restricted to improvements in increments and time scales. The world thought that an equilibrium was found and things were satisfactory for some time.

Better performing employees had to be rewarded to keep up morale. Promotion from one scale to another fulfilled this need. Employees worked for getting promotions so that they could move from one time scale to another which would ensure a jump in their monthly emoluments. Senior level employees were rewarded with other benefits called Perks. A residential quarters or a motor car were the most common perks. 

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Advancement in technology leading to development of trade and commerce brought in requirement of more skills in job markets. Sales and Marketing needed its own skill sets demands. More adventurous way of life attracted the younger generation. Mass recruitments through announcements and notifications gave way to campus and private recruitments. Higher skill requirements compelled employers for scouting suitable candidates from among the workforce in competitor organisations. Educated and skilled girls flooded the job markets and started competing equally with men. Waiting for annual increments and moving from one time scale to another did not enthuse the younger generation any longer. Recruiting new talent became a primary need for growing companies and industries. Head Hunters made their debut and poaching of employees in competitor entities turned out be an accepted practice. Working in a job continuously became a negative point now. Principle of being settled in life itself became unsettled. If someone did not change the job for five years, questions were raised about the person's capacity to secure a better job. "Did he/she not get any other offers so far?" became a normal question!

Pension and Provident Fund benefits became less important as retirement at a certain age itself lost relevance. Older people started working even after superannuation. Younger people started believing in earning well in the earlier years and spend time to pursue other interests in life in late 40s or early 50s. They believed in building their own portfolio and financial planning. 

As a natural corollary of these developments, employees became aggressive and turned out to be equal partners in job discussions. "What should be the emoluments?" became a point of negotiation between the candidate and the prospective employer. "I give this" and "I need this" led to " We settle for this". Along with other factors and considerations, "Signing Bonus" entered as a tool to compensate a candidate changing the jobs and entering a new position. Annual increments gave way to pay raises and annual bonuses. These bonuses were not a general annual gift to all employees. Instead it became a confidential issue between employer and the employee. Persons working in the same positions in an organisations got different annual emoluments. Time Scales departed because nobody, neither the employer nor the employee, even thought of a 20 or 25 years timeline!

Rewarding good performers had to find a new method since promotions were not enough now to retain the right talents. Managements of large corporates started giving a part of the stake in the ownership of the companies to senior level functionaries. This served twin objectives; rewarding the better performers as well as ensuring loyalty during the period one worked with the organisations. Employee Stock Options (ESO) became a part of the annual pay packet. New employees could now see themselves as millionaires in the ESO mirror. It was not a image in the mirror, many indeed became rich and famous. Some of them started their own companies in due course. "Start Up" became the buzzword in the commercial and financial markets. The era of start ups is indeed now progressing very fast.

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Everyone knows about Amazon. If someone were to ask a school going kid what is Amazon, the answer would be different. It is no longer a major river in South America but a company that delivers a parcel to your house. Many housewives today cannot sleep unless they had at least one parcel delivered by Amazon to their house. It is a big multinational company focusing in e-commerce, cloud computing and Artificial Intelligence and based in Seattle, Washington, USA. It is the largest e-commerce market place in the world, both by revenue and market capitalisation.

The growth of Amazon is indeed baffling. The company went public in 1997 and the shares made a debut at $ 18 per share. The company made three stock splits (bonus issues) within 15 months. A 2:1 stock split in June 1998 was followed by another 3:1 in January 1999. One more 2:1 came up in September 1999. A $ 100 investment got 5 shares in public offer. 5 shares became 60 shares within 15 months. The share price crossed $ 2050 on September 2018 making it the second $ 1 trillion company, closely following Apple which crossed $ 1 trillion mark in August 2018. At that point, $ 100 invested in 1997 was valued at $ 1,20,762 giving a return of a whopping 1,20,000% in 20 years! Promoter Jeff Bezos sold $ 1 Billion worth of shares recently and still holds about 16% shares in the company, making him the richest man in the world. Amazon shares have presently faced a dip and still quoted at $ 1,632 today. One year projection for share prices is $ 2,137 and 5-year projection by market analysts is $ 4,313. The graph shown above is the Amazon share price graph over the years.

Amazon is one of the companies known to give stock options to its employees. Let us take a hypothetical case of a young aspirant taking a job in this company today. What should be the option - to take a higher salary in lieu of stock options or settle for stock options and hope for the best? Stock options are a small part of the package at junior levels. From the history of the company, stock option appears great. 

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Is stock option the best in all cases of securing jobs or while changing jobs? One cannot be so sure. How to become a millionaire? This question has a wonderful answer. Start as a billionaire and enter the stock market. You are sure to become a millionaire very fast, is the answer. Thousands have made millions in the stock market. Millions have become paupers at the same time. Stock market investments and trading is not for all. 

Want to try your hand in stock market investing or trading? Investopedia offers "Free Stock Simulator" where one can trade in a virtual environment without fear of loss. After practicing and learning for sometime, and gaining confidence one can venture into real trading in stock markets.

Playing in the share markets is a wonderful pastime. If you succeed in the venture, you become rich and a financial wizard. If you fail, you can become a philosopher!

Send Him Here First

The ongoing Prayagraj Kumbh Mela is one of the biggest religious congregations in the world. The 48-day festival starting form "Makara Sankranthi" day and concluding on 4th March, 2019 attracts over 150 million devotees from all parts of the world. The congregation is not only the biggest but also exceeds the populations of several countries in the world put together. Kumbh Mela is held in four cities (Haridwar, Nashik, Ujjain and Prayagraj) by rotation depending on the celestial position of the planets. The belief is that the heavenly nectar obtained by churning of the milky ocean was being carried in a sacred pitcher, when a few drops fell on earth in these four places. As with many things linked to faith, the enthusiasm of the congregation is seen to be believed.

During the last fortnight I had the occasion to talk to half a dozen friends who happened to attend the Kumbh Mela this year. From their unanimous reports it is found that the arrangements made this year were fantastic and unprecedented. The usually uncontrollable crowds were managed very well and the army of volunteers ensured that cleanliness was maintained to the maximum possible extent. It is reported that the volunteers were moving around with baskets in their hands to remove any unwanted item falling on the ground and move them away to the dust bins. There was also more self-discipline among the congregation and clean environment consciousness was visible all-round the mela areas.

Visitors to Varanasi during this period have also reported that many encroachments around the Kashi Vishwanath Temple have been cleared and the path from the river Ganga to the temple is now smooth and easy. Work is still going on but the effects are already visible. Shape of these temple towns, which were unfortunately known for the filth and foul smell, is indeed changing. One can only hope that this development will find its logical conclusion and cleanliness and godliness will be seen together in future.

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It is common knowledge that River Ganga is highly revered and is referred as Mother Ganga (Ganga Mai) or Ganga ji. Uttarakhand High Court in a judgement last year gave the status of a person to Ganga and Yamuna rivers and decreed that these rivers have the same rights as persons. There are many stories about Ganga river in our vast literature.

It is believed that Ganga was born when King Maha Bali washed the feet of Lord Vamana before granting him three feet of land as promised by the King. When the Lord lifted his leg to cover the entire upper worlds, the edge of his foot finger nail cracked the shell of the universe and Ganga flowed from there. Ganga was held by Lord Shiva on the whiskers of his head and became Gangadhara. Taking a dip in River Ganga is a life long dream of people who live far away from the flow of the river. It is also believed that taking a dip in the holy river burns away accumulated sins and paves the way for heaven.

There is a very interesting story about River Ganga in the "Kartika Masa Mahatme", the month that follows Deepavali festival. There was a very devout person, Gangadas, living on the bank of the River Ganga. He had taken a vow that he will not eat anything on any day unless he visits the river and bathes in it. For years and years he sincerely followed this ritual. His entire life revolved around The great river. Due to some reason, he had to once go to another place away from the river. He tried his best to avoid the trip so that he would not miss his daily bath in the river. But he had to go. He decided that since he could not take bath in the river on those days of travel, he would not accept anything to eat from those who have not taken a dip in the river.

Gangadas followed this rule rigorously for several days. On the way back he had to stay overnight in one of the places. He had heard from people coming to his place to bathe in River Ganga that a person there, one Bhakta Das was running a guest house for pilgrims to stay overnight and rest. He had also arranged to provide them lunch on regular basis. All pilgrims taking that route would stay in the guest house for a day, take rest, have lunch and thereafter resume their journey. The news of service rendered by this persons had spread far and wide and our Gangadas had also heard of him. Gangadas decided to stay in Bhakta Das's guest house for a day and resume his journey.

Bhakta Das came to know from his staff that Gangadas was staying overnight in his place. Next morning Bhakta Das visited Gangadas and told him, "I had heard of your devotion to Mother Ganga. Today I am indeed blessed to see you in person, one who has seen and bathed in Mother Ganga regularly for so long. I request you to be my chief guest at today's prasad ceremony and bless us all". Gangadas was happy and agreed to the proposal. 

After the rituals on the next day when all the traveling guests had assembled to have lunch, Gangadas asked Bhakta Das when he had last visited River Ganga. Bhakta Das was very apologetic and said that he had not seen the River even once in his life as he was unable to move away from his guest house lest it will cause inconvenience to the travellers. His dream remained a dream. Gangadas became very angry and shouted at Bhakta Das. "What? You have not bathed in the Mother River even once? Don't you know that I do not accept food from anyone who has not bathed in the River Ganga? One should not even see your face", he said and walked away without listening to the pleadings of Bhakta Das and others.

Gangadas returned to his place and went to the river next day for his usual bath in the morning. To his surprise he found that he could not see the river and its waters. Others were going to the river but he could not see the river waters. Overcome by deep grief he prayed to the Mother River. After much pleadings he heard a voice which said, "You have insulted a true devotee of the Mother River. Bhakta Das might not have come here, but he has helped thousands over the years to come here and realise their dreams. He has earned much higher blessings due to this than whatever you have earned. By insulting such a person you have forfeited the right to see Mother Ganga".

Gangadas realised his blunder and begged the river to forgive him and pardon his mistake. The voice now said, "If you want to atone for your sins, go back to Bhakta Das. Take over the duty of managing the guest house for sometime and relieve Bhakta Das to come here and realise his life's dream. Send him here first. Once that is done you will regain your eligibility to see the river again".

Needless to say, Gangadas dutifully did the same and atoned for his lapses. Bhakta Das also achieved his long time wish.

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Whatever service is done to serve a noble cause is indeed worth as much as doing the noble deed oneself. Many have said this before. That is what John Milton also meant when he said, "They also serve who only stand and wait".

Who Owns Your Body?

What is your answer if someone were to ask you a question: "Who owns your Body?". We may laugh or frown at the person asking this question. The word "Frown" incidentally means "To contract the (eye) brow, as in displeasure or in deep thought". It also means to look displeased or have an angry look or view with disapproval. It appears that this word is created for answering such questions! What nonsensical question is this, one may wonder. Someone may as well shout: "Of course, I own my body!". But is it really true? What are the answers from different angles such as physical, emotional, legal, logical and spiritual view points? 

Ownership is defined in the dictionary as "The act, state or right of possessing something". It relates to a bundle of rights about use and control over an asset. Is the body an asset or liability? A body that was considered as one's most valuable asset at a young age may itself become a big liability at old age. Efforts at growing the asset at youth turns into a preservation exercise of the liability in later years of one's life. As a child, one is not aware of even the concept of ownership. The realisation of use and control develops as one grows up, until this very realisation is lost due to vagaries of time.

There are many dimensions to answers of this question. The answer may depend on many conditions and situations. Answer may depend on who is asking the question to whom, where and when. The answer for the same body may differ depending on the time when the question is asked. The body of a baby belongs to the mother (or the guardian) as the baby does not yet realise that it has a body and has control over it. In the case of an adult, the assumption is that the person owns his body. In the instance of a slave (though slavery is not legally accepted now, it was in force from time to time in the history of mankind), perhaps the master owns it. 

The answers change drastically when a person loses control over his body either temporarily or permanently. In the case of a bedridden person who does not even be aware of own existence, it is probably the caretaker who owns it. A patient's body lying under anaesthesia on the operation table could be said to belong to the Surgeon operating on it, as the surgeon can do anything he wants with the body subject to reasonable restrictions. The body of a prisoner is in the custody of the jailor as the prisoner is restricted from its usage. As regards the body of a dead person, who owns it? The one who apparently owned the body till death is not present now to claim the body and control over it. Does anyone own it or is it only for the purpose of exercising rights over disposal of the body by cremation or burial? All these are indeed interesting questions that deserve some discussion.

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An interesting case about ownership of the body after death came up before the England and Wales High Court recently (2016) in the case of Anstey V Mundle & Anor. George Henry Carty was born in Jamaica in 1935 and came to England in 1960 to work as a transport engineer. He died on 10th January 2016 in England. Three daughters and a niece claimed rights over the body. Two daughters wanted the body to be buried in England whereas the third daughter and niece wanted it to be taken to Jamaica for burial. The family dispute became a case and came up before Mr Justice Klein. The judgement is a beautiful piece of discussion on the issues of rights over a dead body, process of grieving and disposal of the body. The judgement about rights of disposal over the dead body of George Henry Carty deals with the rights and duties of the personal representatives for disposal of the dead body.

As the dispute between two daughters on one side and the third daughter and niece on the other stretched, George Henry Carty was not laid to rest for 6 weeks. As the judge said, instead of ending the normal process of grieving, it brought further grief and misery in itself to the family. The judge observed that the reasons for dispute were indeed genuine. The daughters who wanted the burial to happen in England wanted it so as Carty never visited Jamaica again after his arrival in England. The other daughter and niece were insistent on the burial in Jamaica as Carty was reported to have expressed a desire to be buried by the side of his mother in Jamaica. After considering the deposition of all witnesses and material available on record, the Judge considered the following aspects before pronouncing his judgement:

• Deceased's wishes.
• Reasonable requirements and wishes of the family who are left behind to grieve.
• Location with which the deceased was most closely connected.
• Disposal of the body with all proper respect and decency, and if possible without delay.

The Judge observed that while a person may be close to his children, that is not always the case. The Judge finally relied on the deposition of a third party, a friend of the deceased who did not have too much closeness with the deceased, and ordered that the burial take place in Jamaica without further delay. He hoped that all the parties concerned will cooperate towards this end and ensure action immediately as the matter was already delayed a lot. He also clarified that his judgement is limited to the disposal of the body only and does not have a bearing on all other issues like rights over the estate of the deceased and validity of a subsisting will made by the deceased etc. The judgement is a beautiful example of a speaking order listing out all details of the case and reasons for the final conclusion. A speaking order is an order that speaks for itself and stands the test of legality, fairness and reasoning. The judgement referred above can be a good guide to decide issues relating to disposing a body in disputed cases with due respect to the deceased person. 

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The case of George Henry Carty reminds us of umpteen instances in our own experience where the disposal of a dead body posed problems. Some of them are:

• Waiting or not waiting for some relative to arrive before disposal of the body.
• Using the dead body as a bargaining chip until demands are met by some authority. 
• Disputes about cremation where the custom of the family is disposal through burial or cremation or vice versa. 
• Conflict about a decision to take a body to the house of a relative from the hospital or place where death occurred is opposed by another are common. There are examples where due to such dispute the body has been moved directly to the burial ground to solve claims and counter claims.
• Who should perform the last rites. Sometimes there are more than one willing to do so while in some cases nobody wants this duty or responsibility.
• Bearing or sharing expenses for the last rites. A most wanted person's body becomes most unwanted during such times.
• Either treating the ceremony as a painful duty or glorifying it to monumental proportions.
• Nature of ceremonies to be performed. Should it be brief or long or should there be no ceremony at all?

When all these are considered, the inescapable conclusion is that problems of life do not end in death. Lucky are those whose bodies are disposed with dignity and without delay and disputes!

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Who owns the human body as per our ancient scriptures? This is an interesting question as well. This question also has many answers, but the most accepted one appears to state that there are five persons who can lay a claim to a human body at different stages. The belief is that after death at the end of previous cycle, the soul travels and floats in space. It then falls on the ground along with a drop of rain and reaches a grain or animal in due course. When a man eats the grain or the animal, the soul enters the father's body. 

1. The soul lives in the father's body for three months, takes the shape of a sperm before entering the mother's body. First claimant is the Father. The importance of father in one's life stems from this.
2. The soul enters the mother's body through the sperm and the person's body takes shape and develops there. For this reason, an inseparable bond develops between the mother and the child. The second claimant is the Mother.  
3. The third claimant is the one responsible for providing food and shelter to the individual. His role is equally important as that of father or mother since he provides the support for sustaining the body. The third claimant is this Master (Swami).
4. The body after death belongs to the fire when it is cremated. For the sacred fire that burns the dead body, it is a piece of dry cocoanut (Kobbari Gitaku in Kannada). Hence the fourth claimant is Agni (Fire). In case of burial, it can be construed as Mother Earth.
5. In case of non-cremation or non-burial for any reason, the body belongs to the dogs and other animals (Naayi-Nari in Kannada). Animals eat such a body like a bread piece. Animals are the fifth claimant, in case the fourth claim is not honoured.

A decent burial or cremation is the desired end to any human being after the life's journey comes to an end. It is an equitable right of the dead and the sacred duty of the living left behind. It should be done with respect and dignity.

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This post has become rather lengthy. But these are indeed the various issues that come up when such topics are dealt with. This is also the precise advantage of a blog post. A similar article sent for publication to a newspaper or magazine would be trimmed to desired size measured in number of words. This exercise of trimming would take out the soul of the piece leaving a fractured body behind. 

Viewed from another angle, as the subject matter is one of life and death, and at the end of a long life, the post is not that long, after-all!

Five Types of "Godaan"

One of the earliest methods to measure wealth was by the number of cattle or amount of grains. Practice of estimation of a person's wealth through "cattle wealth" is over 10,000 years old. It was in use much before money in the form of coins gained practice. Cows are one of the important components of cattle wealth and are much in use even today. In our country, cows are also considered sacred by a large section of population. Performing "Go (Cow) Pooja" is an integral part of the morning prayers for many. Gifting cows is considered as an important ritual. One of the important stages of preparing for the journey to the next world is gifting a cow. Gifting cows to the deserved in the name of a departed soul in the family is practiced even in present days. In all such rituals, cow is always accompanied by a calf and they are decorated and worshipped before gifting away. The person receiving the cow as gift is expected to take proper care of it and use its milk for his sacred rituals besides use for his own family members. Its milk, curd, butter and ghee are put to various uses. Any sacred ritual is incomplete without these items, especially the ghee.

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Hari Mahato, a poor farmer, had a desire to have his own cow. He borrows a cow and owes Rupees 80 to the seller. He for some reason cheats his own brother for Rupees 10. The unhappy brother poisons the cow and runs away being afraid of the crime. Hari Mahato borrows some more money to clear the brother's name. He and his wife shelter his son's lover, a widow. Hari takes another loan to pay the penalty for sheltering her. He gets one of his daughter married off for Rupees 200 to save a piece of ancestral land. One by one, his debts mount. In his eagerness to pay off all these debts, he overworks and is about die. His devoted and ever suffering but generous wife Dhaniya pools all her savings and the little sum is used for his "Godaan" before his death. He had a dream of owning a cow to provide enough milk to his grandson. He never realises this dream during his lifetime. But he dies with the satisfaction of having made a "Godaan" before his death. He is half satisfied at death; not achieving the dream of having a cow to provide milk for his grandson but having made "Godaan" before his death. 

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The above is a short summary of the famous novel "Godaan" in Hindi language, by Munshi Premchand. Munshi Premchand lived all his life around Benares (Varanasi) and Allahabad (Prayag Raj) except a few years towards the end of his life in Bombay (Mumbai). Dhanpat Rai Shrivastava was his real name and he used "Nawab Rai" and "Munshi Premchand" as his pen names. He lived for only 56 years (1880-1936). He lost his mother when he was eight years old and spent his entire life in struggles to earn and make a livelihood. His own financial difficulties find a reflection in many of his works. Godaan was his last completed work and was released in the year 1936. He wrote over 300 short stories and 14 novels. He was bestowed with the title "Upanyas Samrat", meaning "Emperor among Novelists". He has also written many essays and translated many works in foreign languages to Hindi. He continues to be a highly respected writer even today.

Premchand's novel "Godaan" presents a beautiful picture (though not a very happy one) of the honesty and sufferings of the Mahato family. Intricate caste politics and exploitation of the week can be seen throughout the novel. Social and economic conditions of the suffering people can be seen in all his works. His Godaan was translated into English as "Gift of the Cow". He tried his hand in the film land also towards the end of his life by writing scripts for some films. His early schooling was in a Madrasa and that helped him learn Urdu and Persian languages as well. 

Godaan, considered as one of the greatest novels in Hindi and modren Indian Literature, was made into a film in Hindi in 1963 with Raj Kumar, Shashikala and Mahmood as lead artistes. It was also a part of the TV serial in 2004, directed by Gulzar and starring Pankaj Kapur. His another novel "Shatranj Ke Khiladi", meaning Chess Players, was made a movie by Satyajit Ray. Premchand's literary pursuits are to be viewed in the background of his own humble life and struggles for survival. 

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Garuda Purana graphically explains the journey of the soul after the death of the human body. One has to cross the "River of Hell" Vaitarani, on the way. The description of this river is extremely fearsome to read and hear. In order to cross the river easily, one has to do a Godaan or Gift a Cow during his life time. Those doing so are believed to be taken across the river in a boat or fly across by holding the tail of the cow. Those who do not do this are made to swim in the river of filth and filled with deadly animals and crocodiles. It is for this reason that shraddalu people make a Godaan during their life time or at least in the last days before their death. There is also a practice of the sons or relatives making a Godaan on behalf of the deceased, within a year of the death.

Though Vaitarani Godaan is well known, there are actually five Godaans one has to make during his lifetime. They are:

1. Runa Godaana (ऋण गोदान): During one's life a person has to repay many debts to others. Some of these may be very small amounts and taken from known people with the promise of paying back shortly. An example may be a small change taken in a temple or for bus fare. There is a promise to return the amount involved. However, the amount is small enough for the giver not to demand it later or the taker to keep a track and return in due course. A debt is a debt, irrespective of the amount involved as there is a promise to pay back. If the debt is not discharged, the receiver has to take another birth to repay and the giver to receive it! Runa Godaan is made to settle all such outstanding debts during one's lifetime. No loan waiver by any government discharges such debts, but this Godaan can.
2. Utkranti Godaana (उत्क्रान्ति गोदान): Death is generally said to come with lot of pain and suffering. Even if others feel that death was painless, the dying feels the pain. Utkaranti Godaana is made to prevent such pain at the time of death.
3. Antardhenu Godaana (अन्तर्धेनु गोदान): One has to walk a long distance on the hot road after death. An Antardhenu Godaana saves this horrid journey and may even be provided a horse to travel the distance. 
4. Vaitarani Godaana (वैतरणी गोदान): Vaitarani Godan is for the purpose of crossing the river of hell Vaitarani. Such a Godaana provides a safe journey across the dangerous river as discussed above.
5. Moksha Dhenu Godaana (मोक्ष धेनु गोदान): The ultimate aim is to escape the birth-death cycle. Moksha Dhenu Godaana supports achieving this goal. Leading a pious life and being useful in society is a prerequisite for this Godaana to be fruitful.

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Is there a simple method to save one from all such troubles? Srimad Bhagavata says that reading or listening of one verse from it is equal to 3000 Godaans. But that should be done with full concentration and devotion to the Lord. Doing it with such concentration and devotion is indeed difficult for most of us.

What is Your Aim?

Those were the early days of our college life. One of the Lecturers had just finished his post-graduation and was in the first year of his teaching profession. We were new students and he was a new Lecturer. The new Lecturer was looking like another student in the campus with only a few years of age separating us. One of our classmates was a little mischievous. He did something in one of the sessions that distracted the lecturer's attention. The Lecturer got angry and shot a question at the mischievous student. The student could not answer and looked helpless. A veteran teacher might have handled the situation in a better manner. This student had the habit of taking many end to end walks in the only long road of the town. Everyone knew of this habit of his. Not yet used to subtle classroom management, the lecturer asked him another question.

"I see you wandering (moving from place to place without a fixed plan) aimlessly in the streets everyday. Can you not answer this simple question?"

The student shot back instantaneously. 

"Aimlessly wandering itself is my Aim, Sir"

Parthasarathy probably won the round that day. But were his long walks really aimless? 

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We often hear about aims, goals and plans. Aim is defined in the dictionary as "to intend or direct for a particular effect or purpose" and "something intended or desired to be achieved by one's efforts".  It naturally flows from this that achievement of a goal or target is the result of conscious efforts to reach something clearly defined, towards which such efforts are directed. 

Aim or Objective is important in all walks of life. Aimless efforts are often a waste of valuable and scarce resources. Time is one of the most valuable resource as it cannot be replaced or brought back. In the context of teaching and learning or training, "Aim" or "Objective" assumes paramount importance for both teacher/trainer and student/trainee. Courses or programs are planned and devised to meet specific objectives. In longer programs that run for several months or years, the basic objectives of the programs is like the blueprint of a building to be constructed. These objectives are further divided into subjects or topics with focused aims to be achieved, resembling details of each of the rooms to be constructed in that building. The learning and training objectives of each subject or topics are further sub-divided into learning points to be covered under teaching or training sessions. These sub-learning points identify the minute details of each component or item in the room. 

The entire process of learning or training is expected to achieve the desired outcome of the aggregate of all sub-learning points that go on to make the subjects or topics which in turn complete the course, and ultimately achieve the overall aims of conducting the learning or training program. It is therefore imperative that both teachers/trainers and students/trainees are clear about the aims or objectives of each session as well as the whole course and never lose their focus. Otherwise it becomes aimless wandering.

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Is there any reference in our ancient texts about having specific aims in actions? Do they deal with such aimless wandering? There are definitely many references to having well-defined aims before actions. The popular phrase used is Prayojanamanuddishya Na Mandopi Pravartate (प्रयोजनमनुद्दिश्य न मन्दोऽपि प्रवर्तते). It means "Even a fool will not start a work without seeing its utility". It is found in the 59th verse of Sri Parashara Smriti. Sage Parashara is the grandson of Sage Vasishta and father of Sage Veda Vyasa. While discussing importance of aim with his friend and classmate Sage Mitreya, Sage Parashara mentions this. The word "Manda" denotes a person of low IQ or a stupid person, mentally dull and lacking sense. The import of the discussion is that when even a dull and stupid person does not venture into actions without weighing the likely rewards or outcome, how come a man of ordinary intelligence plunge into actions? This is even more relevant in the case of intelligent people pursuing higher goals.

It is said that this phrase finds references in the works of Mimamsakas like Kumarila Bhatta, who believed that the "Karta" or the "Doer" is the centre of all activities and pursuits.

The full reference for this quotation can be seen in the celebrated work Sarva Vedanta Siddhanta Saara Sangraha of Sri Shankara Bhagavatpada or Sri Adi Shankara. Verse 12 of this work reads thus:

प्रयोजनम् संप्रवृत्तेः कारणं फललक्षणम् |

प्रयोजनमनुद्दिश्य न मन्दोऽपि प्रवर्तते ||

Prayojananam sampravruteeh kaaranam phalalakshanam

Prayojanamanuddishya na mandopi pravartate

There can be arguments that some actions have no aim. An example can be when a child smiles at someone around. What is the aim of that action of smiling and what does the child get back? The answer for the question is that the child is acknowledging someone's presence and the smile is an expression of that recognition. What is the reward? The someone at whom the child smiles also returns the smile involuntarily. The child learns the first lessons of communication and is benefited by the process resulting in its overall growth. That the child loses this innocence as it grows and refuses to acknowledge presence of others is a different matter. 

What about the actions of a Saadhaka who is indulging in Nishkama Karma? He does not expect anything while discharging his duties. Does he not have any aims? For such a person, discharging his duties without any rewards is itself the aim and goal. His actions automatically get the rewards of contentment and fulfilment.

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In summary, one should have well defined aims or objectives before actions. The actions must be implemented in the directions of those well-defined goals. The aims and goals are never to be lost sight of in the midst of actions. When there is no definite aim or when actions are made having lost sight of the defined aim, it results in aimless wandering. Then it becomes the proverbial wild-goose chase!

Trial by Bench and Trial by Jury

These are the days of Biopics. Biopics have been produced since a long time, but it has become a regular trend nowadays. A Biopic is actually a Biographical Film, that dramatises a historical or non-fictional person and use his real name. There are also many films in which real life happenings are used with suitable changes to suit the motion picture medium. In some cases names are also changed, but everyone including the viewers know the reality. Sometimes the changes made are so bizarre that real life villains become heroes on the screen or vice versa. The Lord and Filmmakers are the only two authorities who can make and unmake and make something else out of nothing. Filmmakers make subtle or not so subtle use of the sentiments of the viewing public and en-cash it for their financial successes. There are many instances of the same person, issue or idea used for production of films at different periods of time. It is also true that films on some of these subjects have an eternal appeal on the general public. Many films on the same topic have been successful at box office each time they were produced. One such recent film is Rustom, produced two years ago, in 2016. 

The case of K M Nanavati vs. State of Maharashtra (1958-59 and decided in 1961) is one such instance. The case was on a murder charge on Commander K M Nanavati for the death of his friend Prem Ahuja. The case was tried before a jury. Jury returned a verdict of 8-1 that he was not guilty. The jury verdict was overturned by Bombay High Court and Nanavati was convicted. Subsequently Governor of Maharashtra granted him pardon. It is said that Nanavati, his wife and three children migrated to Canada. Nanavati died there in 2003. 

The Nanavati case aroused lot of passion among the general public. Newspapers reporting proceedings of the case were sold on the streets for six to eight times of their normal edition prices. Nanavati pistol models were sold on footpath. Public sentiment was with the decision of the jury.

Trial by Bench and Trial by Jury are in practice all over the world. In Trial by the Bench, the presiding officer of the court (The Judge) weighs the evidence and arguments and pronounces the judgement. In Trial by Jury, the proceedings are controlled and monitored by the Presiding Officer of the court (The Judge), but the members of the Jury decide whether the accused person is guilty or not guilty. Members of the jury are selected from among the common people. After the case of K M Nanavati Vs. State of Maharashtra, jury system was abolished in our country by amending the Criminal Procedure Code. Now cases are decided by the Presiding Officer of the designated court and there is no system of using jury. That is why we see members of jury in old Hindi movies, but it is not available in present films. 

Three Hindi films have been produced so far using the Nanavati case, with changes for the films. The first was "Yeh Rastey Hain Pyar Ke" (1963) starring Sunil Dutt. "Achanak" (1973) with Vinod Khanna in the lead had some more changes for the film. "Rustom" with Akshay Kumar in the lead was produced in 2016. Akshay Kumar also won the "Best Actor" award for this role in 64th National Film Awards, 2017.

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Second anniversary of Demonetisation is being observed during this week. The earlier practice was to celebrate birth anniversary of people who are alive and death anniversary of people who left us. Now we have both birth and death anniversaries of various personalities being celebrated. The numbers have crossed the number of days in the calendars and shortly we may have to celebrate them in shifts when more than one anniversary falls on the same day. We may also have two time slots for each such anniversary, one for celebrating and one for opposing such celebrations. 

What were the goals of this Demonetisation? Is it a success or a failure? Who is to decide this? Should it be a trial by a Jury or a trial by a Bench? These are just and proper questions that can be asked, but we may never get a just and proper answer. The views expressed by various responsible personalities have more personalities in the discussion than a fair evaluation of the signs of success or failure!

Finance Minister made a strong defence of the step saying Demonetisation resulted in formalisation of the economy and increased tax base, with the Government earmarking more resources for the poor and infrastructure development. Its opponents have gone to the extent of claiming that it was a brutal conspiracy and a shrewd scheme to convert the black money of those close to the people in power. They say that drawing any other meaning to the exercise will be an insult to the intelligence of the nation. Former Prime Minister says that the scars and wounds it caused are getting more visible with time and the decision's second anniversary is a day to remember how "economic misadventure" can roil the nation.

The discourse on Demonetisation is just like what we hear in a court of law. At times it is even worse because claims and arguments made in the court are to be based on law and facts. Discussion on Demonetisation need not be with such constraints. Each one is free to mention or shout about what they feel it to be true. There are many shades of arguments:

• It was one of the brightest ideas that was implemented brilliantly.
• It was a good scheme with great success.
• it was a good idea but implementation was poor.
• It was a bad idea implemented equally badly.
• It was a bad idea implemented even worse.
• It was an ill-conceived and ill-fated exercise.

Of course, there are millions who do not know what it is actually was because they never had any money with them for demonetising. There are claims that 100 lives were lost and 15 crore daily wage earners lost their wages for several weeks. There were unending queues before banks. 2000 rupee notes were available in the market but nobody would accept them because they did not have change. There were reports that employers had one job for their workers for a month - to go the bank every day and exchange 4000 rupee value old notes for new notes. There were claims of bankers facilitating unholy exchange of old notes for new ones. There were reports of trucks directly going to houses of black money hoarders instead of ATMs. Of many more such issues and reports.

What has happened in two years? Some verifiable facts are as under:

• 99.3% of demonetised money has returned to the RBI.
• Financialisation of hidden savings took place.
• Number of tax returns filed have increased and revenue collection has gone up.
• There were huge economic, social and political costs, but returns are not clear.
• Small business and SME units suffered during and immediately after implementation of the scheme.
• Digital payments increased substantially immediately after the scheme.
• There was some suffering for Non-residents in exchanging their demonetised money.
• Digital transactions went up by 82% in 2 years. (It would have gone up by 40% even without the scheme)
• Money in circulation has come back to old levels now and it has even increased.
• Bankers had stressful days. 
• More than 40 changes in the scheme were made during implementation. One interpretation was that this was a signal of the responsiveness of government/RBI. Another interpretation was that this showed that it was an exercise undertaken without giving full thought to the repercussions.
• Many questions are still unanswered about cost of implementing the scheme.
• Counterfeit notes came down by 31.4%.
• Implementation of GST during the period has added to the fluidity of the situation.

Evaluation of success or failure of the scheme has been rendered difficult because all the goals were not clear from the outset. Though fighting black money and blocking counterfeit notes was mentioned as objectives, government did not publish a clear item by item goal list and expectations. Though the move was to have been sudden to keep the element of surprise, this list could have been published in the initial two or three days of implementing the scheme. RBI took inordinate time to put out figures of returned value of notes or the cost of their handling. Government never mentioned while implementing the scheme that it did not expect demonetised currency returned to RBI would be less than what was in circulation. When speculation was rife that a large chunk will be lost and thereby ensure success of the scheme, government played along with the hope that it would be so and credit for the same can be claimed. When 99.3% of the money has come back, it is now being mentioned that this was not an objective of the scheme.

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A proper evaluation of the scheme is impossible when the goals were not entirely clear and parties on either side are not prepared for a factual evaluation, but go by emotional judgement. Trial by Bench is not possible because nobody is prepared to establish a bench for this purpose. Trial by Jury is abolished by Criminal Procedure Code. But political discourse is now decided by Trial by Jury. There are many Trials by different sets of Jury. They would never be able to come to an unanimous verdict! Each one continues to hold to his own view; more by force of emotions and political expediency, than by stated goals on record and verifiable facts and figures. 

I Will Shoot Him Down

Holiday season is a nightmare for any administrator and more particularly to a bank Branch Manager. This is even more true of days when there are holidays on either side of a working day. Some of the staff members are excellent planners. They make a full plan of availing holidays during the entire year as soon as "Holiday List" for the next year is received. Their diary is marked with the declared holidays when the list is published. Then the leave for which they are entitled are apportioned to the in-between working days so that a longer period of leaving the work is ensured. This is done very efficiently even if such efficiency in planning is nowhere to be seen in any other aspects of their work. Of course, such planning is needed for those who have their own families living in another place. Branches or offices have their own methods to ensure that some skeleton staff are available on such in-between working days. There are some staff members who are either forced to work or are willing to shoulder the duties on such days.

This incident happened exactly 45 years ago during Deepavali festivals. Deepavali or Diwali is celebrated in our country during a period of 3 to 4 days, starting from Dhan Teras to Bali Padyami or Pratipada. Holidays are declared on some days and naturally there will be some in-between working days during the festive celebrations. As per the arrangement at the branch, I was one of the persons required to work on that day. There was the usual sound of crackers around the branch premises. Greetings and sweet boxes were being exchanged everywhere. 

The branch premises was opened for the day and we had taken our seats in the banking hall. A very distinguished looking customer entered the branch and went to the Branch Manager's cabin. Branch Manager greeted him warmly and the customer acknowledged the greetings. He took out some pass books and fixed deposit receipts from his leather handbag and placed them on the Branch Manager's table. Those were the days when computers were not even heard of. I was called to the cabin, given the pass books and advised to update them as the regular staff member handling this work was on leave that day.

When the ledgers were opened for updating the pass books, an interesting aspect came to light. The three pass books were with the same name - Lt Col S S Kashinath, Col S S Kashinath and Capt. S S Kashinath. The ledger accounts were however had full names. The names were Lt Col Shiva Shankar Kashinath (Retired), Col Shambu Shiva Kashinath and Capt. Shankar Shambhu Kashinath. Lt Col S S Kashinath (Retd) was the person who had come to the branch that day. 

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Those serving in the armed forces of the country are very particular about their ranks being recognised correctly. Staff handling such accounts are to be alive to the rules followed in writing their names and ranks appropriately. My branch manager had sensitised us youngsters about these requirements.

• A retired officer's name must be written as while in service and then the word (Retd) is to be added in the end. For example, Lt Col S S Kashinath had since retired from active service. His name was to be written as Lt Col S S Kashinath (Retd) and not as Lt Col (Retd) S S Kashinath. This is because of the principle that the officer holding the rank retires, but not the rank. This is to be meticulously followed.
• Letters sent by post to army personnel is sent to C/O APO (Army Post Office) as their actual place of posting is not known to us. APO would deliver the same to them at their place.
• A Lt Colonel is to be addressed as Colonel and not as Lt Colonel. However, while writing the name on paper or document or letter, it is Lt Colonel. But while addressing the person, it is Colonel.
• Similarly, a Major General or Lt General is to be addressed as General. But the envelope or document will carry the actual rank in full.
• Similar practice is to be followed for officers of other armed forces as well.

The three pass books before me were of three generation of army officers; Father, Son and Grandson. Father joined the army and had a distinguished career and retired as Lt Colonel. Son joined the army when the father was still in service and was presently serving in a forward position on the North East Frontier. The Grandson continued the family tradition and joined the army too. He was serving on the westren borders. Father and son were both highly decorated officers for their distinguished service. There was every indication that the grandson would continue on the same path. As per  the family tradition all of them had the surname Kashinath, but their names were Shiva Shankar, Shambhu Shiva and Shankar Shambhu respectively.

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After updating the passbooks, they were handed over to the customer by the Manager. The visitor took out a sheet of paper from his leather folder and gave it to the Manager. He had made some notes therein. While I was standing there for any further instructions, he spoke to the Manager thus:

"Mr Rao, we are a family of soldiers. For us, money is not that important. Myself, my son and my grandson have excellent relations between us. My son does not mind if I take his money. I will be very happy if my son or grandson take my money. That is fine between the three of us. But it does not mean that the bank can meddle with our funds. I was struggling to reconcile the balances in my account as the balance amount was much higher than it ought to have been. Then I realised that my son's salary is being credited to my account and my pension is going to him! Interest on my grandson's Term Deposits are going to my son's account. This is not acceptable to us. Should I open the accounts in three different banks to solve this problem?"

The experienced Branch Manager handled the situation very well. He politely apologised to the customer and requested for some time to study the discrepancies and settle them. The colonel agreed and said he would come in the afternoon to collect the pass books. He wanted the rectification entries to be passed so that proper balances were reflected in all the three accounts. 

We had to sort out each entry by referring to the old records. Rectification entries were passed and notes were prepared explaining the entries. Proper noting were made in the relevant records for future actions. We proceeded to lunch only after the entire exercise was completed.

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The Colonel returned to the branch in the afternoon. He verified the pass books and rectification entries. He was apparently satisfied. He thanked the Branch Manager, but said that he hoped that these things would not repeat in future. 

"Please advise your staff to handle the accounts properly. Next time when I come to the bank, I will come with my revolver. Show me the person who creates such mess. I will shoot him down!", he said while leaving the Manager's cabin.

Whether he joked or really meant it, we would never know. There was no such problem again in those accounts as long as I was in that branch. Every staff member saw a revolver pointed at him each time he saw a voucher (accounting record) relating to the account of S S Kashinath. 

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With the advent of computerisation, one hoped such instances would never happen. But that is not to be. Even now we have cases where transactions of a family or group accounts messed up due to the staff mixing up Customer-IDs and hurrying up while selecting items from drop down box in the CBS system. I had a similar case last month in one of my own accounts. May be Lt Col S S Kashinath (Retd) should visit such branches with his revolver!