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Saswat mishra
Why Did Odisha Govt Quickly Reverses Its Decision Of De-Empanelling 3 Pvt Sector Banks?
It’s now an embarrassing moment for the Odisha government’s Principal Finance Secretary, Saswat Mishra IAS who took a hasty decision of dropping three major private sector banks — HDFC, ICICI, Axis — from its panel of banks authorised to handle the state government’s business. And surprisingly, he chose to reverse his decision on June 21 with a clarification that no new account shall be opened henceforth by the respective banks till the banks improve their performance parameters. Many questions have been raised over Mishra’s action. Was it the pressure from Delhi that saw Mishra reversing his decision? What went wrong in the first place for Mishra to de-empanel them? The real story, sources say, is that all these three banks, listed on the stock exchanges, fearing NPAs refused to lend small ticket loans to the weaker section of the society without collaterals, citing the danger of black money routing scam and the inability of the recipients to pay back, particularly PMEGP scheme. This seems to have upset Mishra. Though his official stance is “the action on three banks were taken because of their consistently poor performance in the banks flagship schemes spread over two years”. Clued-in observers say Mishra has opted for carrot and stick policy in dealing with the banks. At the moment the three private sector banks are in a quandary as to how to protect themselves from potential NPAs without collaterals and meeting fiduciary responsibilities amidst RBI’s continued apprehension regarding the danger of unsecured lending.

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Editor’s Note: Short Post Noticed By People Who Matter

Four years have zipped by and we are crossing another milestone on 31st January 2025 – it’s our 4th Anniversary. It feels good.
Looking back at the 1460 days, I must say Short Post has made its mark with people who matter via 4000 stories published in the areas of politics, business, entertainment and sports. All made possible by the unflinching commitment and dedication of our senior editors, most of whom have been part of this journey from Day One.
Small pack, big impact is in essence the story of Short Post which was launched at the height of the Covid-19 pandemic in 2021. It shows our conviction. In all humility, I can say, we have created a new niche in the news segment space like Hindustan Unilever which created a new segment, when it launched CloseUp Gel.
Yes, we have created a brand (in a limited sense), created demand (readers) and created supply (senior journalists). But we are facing teething problems like all start-ups. What makes us happy and confident is the recognition of our efforts. For instance, we have an arrangement with the OPEN Magazine, part of the $4.5 billion Kolkata-based Sanjiv Goenka-RPG Group. This arrangement sees around 10 Short Post stories posted on OPEN Magazine website every week. This arrangement is testimony that our content has been well received! Also, I may add that the Maharashtra government has recognised Short Post and has allowed our senior editor to cover the Assembly sessions. Ditto: Odisha.
Our goal is to ensure that Short Post becomes a habit. I would like people to keep checking their smartphones to know the latest Authentic Gossip. As regards AI and the fear of it disrupting all businesses including media. On that, personally, I have no such fear as I am confident AI cannot smell news particularly Authentic Gossip. That’s the place we are well entrenched.