Ritesh Banglani Profile picture
Mar 4 9 tweets 2 min read
My favourite Shane Warne memory is from a meaningless IPL game from 2010.
#Cricket

I had already lost interest in the IPL by then, and had no idea how the league was going. But flipping through the channels in a sad hotel room, I caught a glimpse of Warne bowling.
The match situation was hopeless. The opposition needed 68 off 54 balls with only three wickets down. But Warne was bowling, so you knew it wasn't over.
I don't know why he had held himself back till the 12th over, but he bowled four on the trot and prised out 4/21. But the other end continued to leak runs, and they entered the last over with only 6 needed and a rampant young Rohit Sharma on strike.
Everybody in the team knew the game was lost. Spectators on the ground knew the game was lost. The TV audience knew the game was lost. Only one man believed it could still be won.
The bowler was a thoroughly deflated Siddharth Trivedi. Warne was having none of it. He bustled about - setting the field, advising the bowler, pumping up his fielders. Leading an extended conference with Trivedi and Watson before every ball.
Single off the first ball, the second called a wide. 4 from 5 now. Surely *now* it was lost.
But Warne was still hustling. It wasn't false bravado or motivational management bullshit. It slowly dawned on me that Shane Warne, without a shred of doubt, believed that he will win the game from there. It was self belief to the point of delusion.
It turned out that they did. Through a combination of good bowling, phenomenal captaincy and not a little mental disintegration, Warne forced mistake after mistake from the opposition batsmen. They lost three wickets off consecutive balls, including the inevitable comedy run out.
But that night, it was not the result that mattered. The night was about one man who would just not back down. For whom no situation was too desperate to win from. Who could bend the world to his will through sheer force of personality.

Go well, Warnie. You will be missed.

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More from @banglani

Feb 18
April 2020. India was in the middle of the harshest lockdown in the world. The economy had ground to a halt. Millions of Indians were in danger of slipping into poverty because of the loss of jobs and business.
To help tide over the crisis, the RBI announced a moratorium on loan repayments. From April till June, people and businesses didn't need to pay their EMIs.
This was a relief to borrowers, but to banks and other lenders, it was a potential catastrophe. Bajaj Finance reported a 35% first-default on their entire loan book, even before the moratorium came into force.
Read 17 tweets
Oct 3, 2021
I love myself a Salade Niçoise (French tuna salad), and had finally found a place in Bangalore that made it well. But last week they suddenly removed it from the menu.
Further investigations revealed that their hand was forced by the mysterious disappearance of canned tuna from the shelves. Apparently no supply has come in since June, and we've exhausted the inventory built up during the pandemic. Good thing canned tuna doesn't go bad.
What's behind the shortage of canned tuna in Bangalore? Blame the worldwide shipping container crisis.

Despite its 7500 km coastline and the availability of at least 9 species of tuna, India imports almost all its canned fish from Thailand. So no containers means no tuna.
Read 6 tweets
Jun 24, 2021
When I was 18, I lost my entire month's income in 10 minutes of gambling. It was totally worth it. <story>
In 1996, I spent a year in France on a college exchange program. As a poor Indian student, I was entirely dependent on my scholarship: 1200 francs a month.
That relative poverty meant that I made most of my (modest) purchases at the Sunday weekly market. It was a tent-and-caravan affair at the edge of town, and my friend and I would cycle there every Sunday morning to buy fruit, chips, juice, CDs and old comics.
Read 24 tweets
Jun 14, 2021
Heard this incredible story from a senior PSU banker today:

Years ago, when he was a branch manager in Assam, he gave a loan to a farmer. The collateral was a bunch of goats.
The monsoon failed, the farmer defaulted and the banker went to collect the loan. As the borrower was unable to pay, he had to repossess the collateral. So the goats came back with him in his official car.
The rules said the security must be in physical custody of the bank upon repossession. So they tied up the goats outside the bank branch. The security guard became part-time goat caretaker.
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A less-obvious effect of the pandemic is on the emotional development of children. I hadn't fully realised how large a part social interaction plays in making us fully human. The past 15 months have brought this lesson home.
My wife made an interesting observation recently. The incoming class of 6th graders is much more "childish" than previous classes. In online classes they ask the teacher permission to go to the toilet in their own homes. They complain to the teacher if their pen leaks.
These kids last went to school in grade 4. The rules of social interaction for them, both with other children and with adults, are frozen in time. They behave like 4th graders still because they're not learning new rules from each other. So they look to the adults for direction.
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May 30, 2021
Can someone who knows economics help me understand this:

Why does the government need tax revenues? A sovereign can print as much money as it wants. It can simply announce in its annual budget that it will print so many rupees to spend in the next FY.
Sure, the value of money will come down proportionately (like share price when a company issues new shares), but that gets baked into the budget. This "dilution" ( inflation) reduces the purchasing power of the currency, and that acts as a constraint against printing too much
But a fiscally responsible government can balance its budget with "new money" and borrowings alone. It doesn't really *need* taxes of any kind.
Read 7 tweets

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