World Economy Crisis – Ethics and the World Of Finance,Puttaparthi
28th of August was a very special day in the history of Prasanthi Nilayam. Not sure where to start to describe such a unique day. This was the day when the India's THINK TANKS of the Commerce world were present but there was no commerce exchanged. This was the day when all the heads of Banks in India thronged to Parthi but not even an account was opened, This was the day when every body were contemplating on their mistakes, digging into the causes for this so called financial recession which the whole world is experiencing.
In the auditorium of Sri Sathya Sai University. This was a very unique conference where every one were trying to know the real use of money. They came to the Master who says, Money comes and goes, Morality comes but Grows, They came to the Master, the Avatar of this Kali Age who says, money is the last thing you should be running after. The audience were of the back ground to whom MONEY MATTERS matters a lot. Many of the CEOs of the banks were quite not sure as where they ended up coming, many of them didn't know why every one in this little town ADDRESS Sairam! But in the sanctum sanctorum of their hearts they knew they came to the right ADDRESS.. Prasanthi Nilayam the abode of Highest peace where Lord in Human form has incarnated..
Swami out of His immense mercy paid a visit to the Institute auditorium this morning just before 10am to preside over the Ethics and World of Finance conference. The little auditorium was packed with dignitaries from all banks of India. On the stage were seated Mr. Subba Rao the present governor of Reserve Bank of India, the governing authority for all banks in India, and Mr. G.V.Reddy the former governor of Reserve Bank of India. Blessed were those students of MBA especially of Finance specialization to get such a high profile guests for their conference which is definitely a nice learning experience and that is where Swamis students stand apart from other institutions. Those are the dignitaries who dont have time even to take a deep breath, but came here to breath the Divine Aroma of this holy land. No business school any where in the world for that matter, would have a gathering of such big number. Most probably they would be successful in bringing local branch managers of few banks in their town for such conferences but not the CEOs of all banks in India all one the same day sharing the same dais.
The conference was also held in such a situation where apart from the global financial crisis, Reserve Bank of India, a governing body, which is supposed to scrutinize all the financial activities of all the banks was under much criticism as there were innumerable incidents of frauds in financial sectors be it banks or chitfund companies. Another major problem India is facing is the counterfeit currency notes whose percentage has gone up to 4% now.
Swami started the conference by lighting the lamp and after the welcome address from Mr. Pandit, Vice Chancellor of Sri Sathya Sai University, Mr. Subba Rao spoke in length the present situation of financial sector and stressed the need for Ethics in Finance sector. Mr. Subba Rao with a very good academic and professional track record asked for more reforms in the banking sector. He also spoke on length about the law and the kind of manipulations many financial institutions are practicing which ultimately is resulting in banks going bankrupt. He was of the opinion that every one should whole heartedly contribute towards making the law more stringent and common man friendly instead of banker friendly. Mr. Subba Rao gave an interesting example of Burnham Lamber investment was convicted of insider trading in one of wall streets biggest scandals. Mr. Subba Rao gave an interesting in-depth analysis as how this happened. According to him it was very easy job. In seven years he multiplied a paltry $40,000 into $12 million and all it took was a 20 second phone call to an offshore bank a couple of times a month about 200 calls in total.
Mr. Subba Rao, continued to say, Only evil minded person can be the cause of big scandal. This is the right time for all of us to get all the strings tight and get the rules more stringent and practical. By doing so incidents like the recent case of Bernie Madoff, former head of New York Stock Exchange, whose Ponzi scheme robbed millions of individuals of their life savings and looted the treasuries of charitable institutions can be avoided..
Mr. Subba Rao also quoted the example of the recent and most notorious white collar scam that happened in India, with the Sathyam Computers. The management, MANAGED to do the window dressing and showed their balance sheet as high profits for good 10 years and no one knew any thing about it. (Btw the CEO of Sathyam Computers, Mr. Rama linga Raju who is now resting his heels in the jail was made to sit next to Mr. Bill Clinton when he came to Hyderabad in the position of President of America)
Mr. Subba Rao's talk was a thought provoking one. A definite lesson for every one and it was very nice to hear (at least) the kind of reforms our Financial heads are going to bring into this society which they promise will be scam free one.
Mr. Subba Rao also quoted the example of the recent and most notorious white collar scam that happened in India, with the Sathyam Computers. The management, MANAGED to do the window dressing and showed their balance sheet as high profits for good 10 years and no one knew any thing about it. (Btw the CEO of Sathyam Computers, Mr. Rama linga Raju who is now resting his heels in the jail was made to sit next to Mr. Bill Clinton when he came to Hyderabad in the position of President of America)
Mr. Subba Rao's talk was a thought provoking one. A definite lesson for every one and it was very nice to hear (at least) the kind of reforms our Financial heads are going to bring into this society which they promise will be scam free one.
The next speaker was Mr.Y.V.Reddy the former governor of Reserve Bank Of India. Mr. Reddy also stressed upon the values and ethics in commerce. It is all the evil tendencies which is leading into scams and bankruptcy. Mr. Y.V.Reddy ended his talk saying India has so much of natural resources which has the capability of fulfilling every body's NEEDS but not the GREED which is where the crux of the problem lies..
Swami who was seated right through the session which lasted for close to two hours, was listening with rapt attention. Many times, Swami smiled at the speakers and gestured with applauds when one made a good point. He was completely in a very active mood today. Probably because of the length of the problem Swami seemed to play with His holy Feet, some times putting the right leg on the left one, and vice versa. At one time, Swami's Holy Feet came much further beyond the foot rest when the boys who saw this offered another extra foot rest Swami with a sweet smile said no need.
Swami who was seated right through the session which lasted for close to two hours, was listening with rapt attention. Many times, Swami smiled at the speakers and gestured with applauds when one made a good point. He was completely in a very active mood today. Probably because of the length of the problem Swami seemed to play with His holy Feet, some times putting the right leg on the left one, and vice versa. At one time, Swami's Holy Feet came much further beyond the foot rest when the boys who saw this offered another extra foot rest Swami with a sweet smile said no need.
Swami from whom we learn the minutest things, was playing a perfect host to the dignitaries. After the speakers finished their talks and when they went upto Him for His blessings, while making a point to them, Swami reached for their hands, slowly pressed them like a caring mother, one time patted them for the good talk and made sure they were comfortably seated. Every one who were watching would have just bowed down for the down to earth approach of Swami. Swami Aap laa javab Ho
After both talks, the registrar came upto Swami to request Swami to bless the speakers with memento for which Swami readily accepted. Two tiny replicas of Swami's Sarva Dharma Stoopa which is near His residence, was brought and Swami with a beautiful smile gave each to the present governor of RBI and to the former governor. Sarva Dharma Priya Deva was Sarva Bank Priya Deva today in the immediate presence of all the representatives of the banks..
After both talks, the registrar came upto Swami to request Swami to bless the speakers with memento for which Swami readily accepted. Two tiny replicas of Swami's Sarva Dharma Stoopa which is near His residence, was brought and Swami with a beautiful smile gave each to the present governor of RBI and to the former governor. Sarva Dharma Priya Deva was Sarva Bank Priya Deva today in the immediate presence of all the representatives of the banks..
This evening programme was a continuation of the morning programme and the venue now was shifted to Sai Kulwanth hall. All the dignitaries were given seats on the dais. Mr. K.V.Kamath, Former Managing Director, ICICI Bank Mr. V.S.Das, Executive Director,RBI Mr. Jagdish Kapoor, Chairman, HDFC Bank Mr. Rama Moorthy of ING bank and many others were present.
Swami blessed the august gathering just after 5pm. After taking a full round Swami came on to the dais and joined the bankers on the stage. Mr.K.V.Kamath from ICICI bank was asked to speak who shared his views on ethics in Finance sector.Mr. Kamath whose bank opened a branch very recently in Parthi said, inspite of all the financial recession all over the world, the effects of the same was seen bit less in India and the main reason behind it is the spiritual back ground of Indians. Because of spirituality and guidance from Masters we were able to face this problem bravely and it is a real boon.
The next speaker Mr. Rama murthy of ING Vysya bank on a personal note thanked Swami for saving him from the recent terrorist attacks in Taj hotel. He was of the opinion that all the financial institutions should be opened with a service motto apart from earning profits. Now a days, every one comes out with this idea and they start calculating as how much they can get from society instead of how much they can give to the society. He praised Swami's education system and His institutions and hoped that students of this background would become handy in the near future..
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Later it was the turn of Mr. V.S.Das executive director of RBI who promised that RBI which is celebrating its platinum jubilee would come out with more stringent measures to control fraud in finance sector and safe guard every penny saved by the common man.
It was the turn of Mr. Jagadish Kapur, Chairman HDFC bank, whose branch is also open now in Parthi,coincidentally, the manager of the bank is Swami's ex student, thanked Swami for allowing him to come to Parthi very often. He was of the opinion that there was no other place in this world better than Puttaparthi to hold a Conference on Ethics and the world of Finance as everybody carries moral values here in this holy place..
Swami then asked our own Prof. Venkatraman,to address the gathering. Prof.Venkatraman was of the opinion that the TRUE LOVE is not to be seen in bollywood movies but has to be experienced with Swami who is the PURE LOVE Himself. Prof.Venkataraman made an interesting statement keeping in view of the number of bankers on the dais..Swami is not interested in the fixed deposit that we have in the banks, but he is interested in the interest earned by the fixed deposit of LOVE that is with in us..
After 15 minutes Sri.Venkatraman ended with a prayer to Swami thanking him for this surprise talk for which he was not ready at all..
It was already 10 passed 6pm and Swami asked for Sri Raghavam bhajan and around 6:30 arathi was given to Swami thus pulling the curtains down to an amazing day which spoke of Spiritual Bank Balance to the audience who were more considered about the PHYSICAL BANK BALANCE.. Time has come for us to choose which BALANCE we need the most or at least try to balance in maintaining the BALANCES with the needle slightly pointing towards Spiritual Bank balance and this will be the perfect time for us to think about this BALANCE as we got our beloved Lord, amongst us a very very rare opportunity that He has bestowed upon us..
The next speaker Mr. Rama murthy of ING Vysya bank on a personal note thanked Swami for saving him from the recent terrorist attacks in Taj hotel. He was of the opinion that all the financial institutions should be opened with a service motto apart from earning profits. Now a days, every one comes out with this idea and they start calculating as how much they can get from society instead of how much they can give to the society. He praised Swami's education system and His institutions and hoped that students of this background would become handy in the near future..
top
Later it was the turn of Mr. V.S.Das executive director of RBI who promised that RBI which is celebrating its platinum jubilee would come out with more stringent measures to control fraud in finance sector and safe guard every penny saved by the common man.
It was the turn of Mr. Jagadish Kapur, Chairman HDFC bank, whose branch is also open now in Parthi,coincidentally, the manager of the bank is Swami's ex student, thanked Swami for allowing him to come to Parthi very often. He was of the opinion that there was no other place in this world better than Puttaparthi to hold a Conference on Ethics and the world of Finance as everybody carries moral values here in this holy place..
Swami then asked our own Prof. Venkatraman,to address the gathering. Prof.Venkatraman was of the opinion that the TRUE LOVE is not to be seen in bollywood movies but has to be experienced with Swami who is the PURE LOVE Himself. Prof.Venkataraman made an interesting statement keeping in view of the number of bankers on the dais..Swami is not interested in the fixed deposit that we have in the banks, but he is interested in the interest earned by the fixed deposit of LOVE that is with in us..
Swami has been sharing this DIVINE love since 1940 and much before that.. He also explained various unbelievable projects taken up by Swami and the message behind it.
After 15 minutes Sri.Venkatraman ended with a prayer to Swami thanking him for this surprise talk for which he was not ready at all..
It was already 10 passed 6pm and Swami asked for Sri Raghavam bhajan and around 6:30 arathi was given to Swami thus pulling the curtains down to an amazing day which spoke of Spiritual Bank Balance to the audience who were more considered about the PHYSICAL BANK BALANCE.. Time has come for us to choose which BALANCE we need the most or at least try to balance in maintaining the BALANCES with the needle slightly pointing towards Spiritual Bank balance and this will be the perfect time for us to think about this BALANCE as we got our beloved Lord, amongst us a very very rare opportunity that He has bestowed upon us..
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