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Asian Voice - Saturday 17th December 2011

CB Live and Cornelia Sorabji

Indian homes hold gold worth $950 bn

In honouring Cornelia Sorabji (18661954) in his very personalised and equally popular programme on MATV, the CB Live shown on December 8, C B Patel did more than justice to her amazing and remarkable life. With undisguised pride and enthusiasm he praised her and spoke of her struggles in the name of equality for women as well as what she has achieved by way of becoming the first woman ever, Indian or British to practice law. She spent most her life giving legal protection to women in purdah, often victims of unscrupulous relatives. The recently published book ‘An Indian Portia’ is about selected writings of Sorabji. CB Patel, impressed by the sheer volume of her literary output and her quick witted and fiercely intelligent writings declared her the star of Gujarat and a national icon. Sorabji wrote numerous books, letters. reviews, plays, diaries and gave marathon speeches on politics and indo-British history. She even interrogated Gandhi in a very historic interview when he was in London for the round table Conference (1931). Gandhi was three years younger than Sorabji. She mingled with Royalty, Prime Ministers, politicians, Viceroys and writers. She was the most high profile Indian in Britain. The fact that very little or anything at all is known about her and many other notable Indians and their contribution to the British way of life is a sad reflection of our indifference to our own history in Britain. An unforgivable act of irresponsibility and lack of national pride. What CB Patel has done for Cornelia Sorabji, both at Asian Achievers Awards recently and his very special tv show is admirable as it is impressive. I am indebted to his kindness and the generosity of his time on a very influential media.

We joyfully note that Indian homes and temples have tons of gold, plus billions of rupees stashed in foreign banks. India should be dictating its national and international destiny. Yet India is treated as third world’s underdeveloped poor country, with 41% shamefully below poverty line. India’s dignity and prestige abroad are compromised by frisking top politicians, visa denied on basis of 9 years old ghost charges, and repeated mauling by terrorists. A chemical company rejects its humanitarian and moral obligations towards victims of Bhopal disaster; Vatican official can denounce Yoga as evil, M. F. Hussain can insult Hindu deities. Minuscule states can fill its citizens with pride and dignity, rush across Africa to rescue citizens from terrorists, perpetuate memory of holocaust, wage war on nation halfway across the globe. Considering that billions can be generated in mere 64 years and secreted abroad, begging to foreign supermarkets to improve India’s economy is bankruptcy of governing skill by UPA. Indians should be marshalled with spirit of Sardar V. Patel, Netaji Bose, Shaheed Bhagat Singh and other passionate patriots. Days of meekness, tolerance, etc must be shelved till Indians can implement same assertive aggression as expected by competitors and onlookers.

Kusoom Vadgama London (Dr Kusoom Vadgama’s majestical work has been based on a perusal to 230 odd volumes of Cornelia Sorabji’s letters in the British Library)

Bol- an inspiring film I saw the Urdu film Bol. People who have not seen this film I strongly recommend them to see it. In fact it should be made compulsory for everyone in Pakistan and India to see this film and improve their thinking by the message that the film has tried to give to both the Nations. It will not be right for me to tell you the story, it deals with the poor people having many children, yet being incapable of looking after them, and leave every thing to Allah or God. I must congratulate Shoaib Mansoor for producing such an excellent film and request him to continue educating people in the right directions by producing films with such themes. Great job, well done Shoaib. Dharam Sahdev Ilford

Ramesh Jhalla Via Email

Dev Anand- the debonair

Banking Regulation

Blind ing Performance

Under the Bank of International Settlements [BIS], based in Switzerland, all banks including offshore banks are regulated where countries have signed up to their Basle I, II and III Accords. However, transactions in the Eurocurrency market are not subject to the Cash Reserve Ratio [CRR] and the Statutory Liquidity Ratio [SLR] requirements. In 1999, this market was worth US$ 9.5 trillion. Thus these funds are not legally protected. Eurocurrency market is a wholesale market in which Eurocurrencies are borrowed and lent in multiples of US$ 10m. Eurocurrency is not the Euro currency. It can be Dollars, Sterling, Euros, Japanese Yen, etc: known as Eurodollar, Euro Pound, Euro Yen, Euro CAD, etc. The legal definition of Eurocurrency is a market in which funds are intermediated outside the country of currency in which the funds are denominated. It is not legal tender. It can just be borrowed or lent. One example would be Hindustan Levers deposits US$30m in an American Bank branch in Germany; another: an American branch in France lends US$30m to British Airways in the UK. The interest rates paid or charged are naturally lower than domestic bank rates. Rates quoted are usually 1% above LIBOR rate, fixed every six months. Although City of London is fully regulated, regulators do not have sufficient time or expertise to monitor this complex banking system, esp. the offshore activities of MNCs and tax evasion that follows. EU is right to propose a transaction tax. David Cameroon was wrong to use the veto in Brussels. He could have said: I have to consult my Parliament for deep reflexion.

David Cameron’s action of vetoing the EU treaty in Brussels has been described as having played a blinder. It indeed takes courage to stand out alone against 26 others. No other British Prime Minister, even Margaret Thatcher, had done so in the forty odd years’ history of the European Union! But the Prime Minister had the interests of the British financial institutions at heart. The City handles 40% of the world’s foreign exchange trade in comparison to 2% handled by France and some 4% by Germany. The PM wanted to get adequate safeguards for Britain in the new European treaty which would otherwise have put our position in jeopardy. David Cameron says we are better off not being in the EU. I don’t profess to be au fait with how the EU works or how the financial sector operates. But is it prudent to go alone when Britain’s position in the EU will be marginalised? What concerns me is that we have already forked out billions of pounds to bail out other EU countries. God forbid but if we get into financial trouble like Greece, Italy or Spain, who would come to our rescue? Would we not become isolated and vulnerable? I also thought it was childish petulance on part of the French President to have offered a cold shoulder to the British PM whose gesture of a hand shake was ignored when they passed each other in the hall. This, especially, after being matey over the Libyan military operation.

Dev Anand- was arguably the most romantic,handsome and musical hero of Hindi Cinema’s golden era peaking in late 50s to early 70s. His wonted hair buff,mannerisms, fast dialogue and dressing made him an icon. Black/printed shirts with closed top button/long coat, upturned collars, and straw hat were a ‘trademark’. At his peak in the mid sixties he was more beautiful than handsome, a face too good for the camera is how West Africans referred to him. He had a touch of Hollywood (inspired by Gregory Peck) and attempted English versions of his productions . During 70’s Dev Anand lost his way somewhat due to his insistence on writing and directing films, different class of heroines- changing their trends, looks – age and music- and violent themes triggered by Goldie’s “Johnny mera naam” . However the preceding decade and half esp Guide plus introducing new talents like Guru Dutt, Sahir etc ensures his place in the hall of fame. D A was certainly one of a kind and on his passing we raise our hats to him and the glorious age of pure romance.

Anna Hazare in a recent statement stated that Rahul Gandhi is not fit to be the Prime Minister candidate even though the Congress party is trying to push him to take control of the party. Anna Hazare has clearly stated by staying one night in a hut is not going to solve India’s problem. The real problem in India is that it is ruled by two members of one family namely Sonia Gandhi and Rahul Gandhi. Even though they are elected representative of the people, they rarely attend the Parliament meetings and do not take part in any debate. On the other Rahul Gandhi is instructing the UPA government to carry out his own policies such as the land reforms and changes in Lokpal bill overriding the Prime Minister’s policy. Therefore several members in the parliament including opposition members wanted land reform bill that was not implemented.

Bhupendra Brahmabhatt Via Email

Arun Vaidyanathan Via Email

Nagin Khajuria Via Email

Rahul and Anna

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‘Smile Pinky’ too gets the Oscar Boyle says Mumbai dwarfed the statuette

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Cricket crazy Indians for the first time was seen so euphoric on Monday morning, as they expected a couple of Oscars. British Indians in the UK, Dharavi slums, the shanty township of Mumbai, a village in Uttar Pradesh and almost the entire Bollywood waited in expectation, glued to their TV sets. They burst into celebrations as one by one, their heroes, the actors of the British Indian film and the music maestro, A R Rahman bagged the top awards in the world of entertainment. British actress Kate Winslett also won the Oscar after having missed it almost five times earlier. ‘Smile Pinki’, a short documentary on a cleft-lipped Indian girl in Uttar Pradesh directed by American director Megan Mylan, won the Oscar for the Best Documentary (Short). -/1% /. 0!'%

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David humbles Goliath In the Old Testament, the mighty Goliath, champion of the Philistines was slain by the young David from a sling in front of their opposing armies. Our David has achieved some thing similar in front of the mighty bullies Nicolas Sarkozy and Angela Merkel who wanted to destroy the city of London. No wonder 26 members, most are net beneficiaries and under the economic thumb of Germany ganged up against Britain to line their pockets and save the doomed Euro that Britain had rejected from the onset. They wanted to make Britain a scapegoat for their financial mismanagement and living beyond their means, borrowing as if there is no tomorrow. David Cameron must have cut a lonely figure, allocated a seat next to the PM of Malta, a childish behaviour that spectacularly back-fired and made David even more determined to fight for Britain that no other British PM has done since Lady Margaret Thatcher. It is time for the British people to salute David Cameron for the enormous courage he has shown. Bhupendra M Gandhi Via Email