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Showing posts from July, 2020

Economic Interest 01:- Nationalization of Banks 1969 "अशोभनीय, अनुचित, अकारण,आवश्यक"

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Nationalization of Banks is one of the most significant reforms done under the Iron Lady of India, Indira Gandhi. Most people consider the nationalization of banks a failure that had no economic and social justification but was fed by the political motive of Mrs Gandhi. Let us understand nationalization with the help of a story. A bank that had a faulty Xerox machine to print its money replaced its Xerox machine with a shredding machine. Unfortunately due to incorrigible Indian administration, a bad idea once implemented is highly durable. No government including the current Modi government has not dared to reverse the decision.   History:- Events leading to nationalization of banks A) Economic Reason  1) In 1955, The Imperial Bank Of India was renamed as State Bank Of India. In 1951, there were more than 400 commercial banks who worked under the private sector. More than 360 banks failed between 1947 - 1955 at the rate of 40 banks per year. This damaged people's confidence in the

Inception 01 :- Cuban Missile Crisis:- Nuclear war that never took place.

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Inception 01:- To understand the  Cuban Missile Crisis let us focus on a lighter but an important debate, Test Cricket Vs T-20 Cricket. T-20 cricket is the fast, entertaining, and most importantly more profit-making format. On the other hand Test, Cricket is a very tedious game, which is supposed to be played session by session. Sometimes you play a game to win, sometimes for a draw. Similarly, diplomacy is a game that is supposed to be played like a test match. Whenever diplomacy is played like a T-20 game, we have seen a complete disaster. T-20 Diplomacy  1)Donald Trump & Boris Johnson during the COVID pandemic. 2)Jawaharlal Nehru during the Indo-China war in 1962 3)Demonetisation of Currency by Narendra Modi Test Match Diplomacy  1)Indira Gandhi during the 1971 Indo- Pak war  2)Cuban Missile Crisis  In this article, we will focus on a case Case Study of a Test Match diplomacy, Cuban Missile Crisis  Background : Cuba is a small island nation near the United States. The capital of