24th March

Proceed with caution

The article talks about SEBI’s move to introduce new products in the derivatives market, the OTC products and physical settlement in derivatives. It talks about its merits as well as the caution SEBI needs to take while introducing them.

While SEBI invited comments on the recommendations of the derivates market review committee, the initial reaction is bewilderment. The OTC products and physical settlement in derivatives is largely seen as the reason for western market turmoil. But this is actually the best time to discuss these products as India needs to develop its financial market albeit with some caution and stricter regulation. With a growing economy, there exists a demand for newer financial products and thus the recommendations address all issues w.r.t derivatives. Mini contracts would help to increase liquidity while elongated tenure of options would help long term investors. Bond indices and derivatives contracts on them, together with exchange traded credit derivatives would help to develop bond market. While the real concern is OTC products, physical settlement of derivatives is an agenda for long time. Regular insists on cash settlement for first six months as it sees exchanges don’t have the required capability even when physical settlement provides better linkages between cash and derivatives segment and check against manipulation.

In the nutshell, India has a chance to show the success of these products even under strict regulations. 

Not quite cricket

The article expresses disappointment over the fact that pecuniary issues have taken precedence over the human sentiments in shifting of IPL from India to a foreign soil.

If attack on Srilankan cricketers is the result of political turmoil in Pakistan, then shifting of IPL to foreign soil also reflects political and commercial interests taking precedence over sporting spirit. While BCCI made a crisis out of issue of holding IPL parallel to Lok Sabha elections, there was no connection between relative rigidity over players’ availability and elections. The case is neither country’s inability to provide security or spreading of sport overseas. But only commercial stakes of stakeholders have been taken into consideration while taking the decision disregarding the fact that the event is supposed to be attended by local audiences and it helps in developing loyalties among the city-locals. As states expressed their inability to host IPL, the Centre also after initial hesitation did offer some support, BCCI was in no mood to show any flexibility. 

The scene now is that IPL has become a political issue with each party trying to cash in on it in the coming elections. Besides an example of pity politics going on in India, it also helps setting external perceptions over India’s ability to host sporting events. At the end, the sufferer is an average Indian cricket fan, who has been completely sidelined. 

It’s a woman’s world

The article talks about the increasingly women dominated profession of teaching at the primary level while the other gender is seen more at the high school level classes. 

While in Britain, 4587 out of 17357 schools are devoid of male teachers, the teaching profession is becoming increasing skewed towards the fairer sex. Even in the teacher training colleges there are three women students to every male student while the latter goes to more ‘respected’ posts in senior classes. While India has similar gender imbalance but it hasn’t created that great consternation as in England. While there is no perceived difference in the quality of education imparted, there is a notion that children spend their formative years more under the female influence, given that many of them come from single-mother households in England. While there is no evidence that male teachers inculcate stronger discipline or orderliness but the new theory defies the suspicion that male teachers pose a threat to children being raised under the danger of paedophilia.

As poor career prospects at the primary level teaching may be the reason behind highly female dominated job, even the learning seems to have gone under the female influence as girls perform better then boys at these levels. The phenomenon is not restricted to only Britain!!!