Money matters

 Look at the title of the blog today. The second word, "matters", used in this title is both a noun and a verb. It means both: monetary issues and it also means money matters, that is, money is important. 

I thought of this title because of the DHFL issue. Some 77,000 individuals have invested literally crores in that company. The Wadhwans got their  company in to trouble, and now those thousands of common Indian citizens are in hot water because  only 23% of their basic principal or investment is getting returned, that, too, without any interest. 

Undoubtedly, there must be big sharks amongst the investors who might even be privy to hanky-panky. But mostly it is the small time investors who used their meagre life time savings in the DHFL share trading. As it was an extremely safe proposition, given the Gurgoan boom, they were not exactly wrong in their monetary/financial decisions either. Once the Wadhwans turned themselves in and the company finances got mired in insolvency issues, what with later mergers by big shots such as the Piramal's, nobody cares for the small time investors. 

Lost in the mire of financial technicalities, the issue has now bounced in to the Supreme  Court. It is not clear if any PIL can be filed so that the supreme court can take cognizance through a suo motu action.

May be, the Media must look in to this truly valid issue as daily livelihoods of many senior citizens would be involved. What with the reduction in the banking fd interests, such private players matter. Actually, the realty boom the world over has bust ever since the 2008 American tragic crisis. Even in India, we had the DSK issue, for instance. But the very amount involved in the exact transactions in the present  instance is truly mind boggling. Hope everybody involved takes proactive measures, and within a given  time framework. Well, every industry cannot meet the Tata's!Lucky Air India at last!

I teach "My financial career" by Stephen Leacock to my f.y. b.com students. My basic contention about the sardonic, sarcastic  essay is that it opens up the heartless, indifferent treatment meted out to the hapless common man by the big business and finance conglomerate. So sad that the DHFL insolvency issue proves me right!!!

Pratima@ money may make the mare go, but it drives small time lives in the direction of the cremation ground, and fast!