Interesting memoir, Moving Au Revoir

Media is abuzz with citing, interpreting and analyzing the seemingly contentious issues of 'Who Moved My Interest Rate?' conveniently ignoring the delightfully enduring aspects of the incisive memoir. Hardly a surprise that, given the typical fourth estate obsession with theatrical story-telling, thriving on sensationalism that, more often than not, is bereft of sense. 

But the undeniable fact is, Dr. Subbarao’s tell-all book is an endearing primer for posterity that unfolds a rainbow of his emotions - while at the helm of the Reserve Bank of India (RBI) in what was a terrifyingly tumultuous tenure – including fear, anxiety, hope, surprise, shock, delight, contentment, lament and predicament. He provides the context to each conflict he faced which in turn tells us more about the man’s stoic character and his resolute mission – beginning with the 2008 global meltdown and his struggle to shield India from the unforeseen tremors of an intertwined financial world (but with little say to emerging market economies) and ending with the nasty rupee fall of 2013 which raised lethal questions on the lack of forex build up in the relatively happy years. Interspersed in between was the chronic fight against the government’s hardcoded stance on the age-old Growth vs. Price Stability debate where Dr. Subbarao was implicitly expected to toe the line, more so given his long, eventful stint on the ‘other side’.

Dr. Subbarao’s sincere account, among other things, brings to light the pathos of the Governor’s job where acknowledgment of short-term pay offs is ephemeral while the unforgiving evaluation of long-term consequences in the light of hindsight experience seems eternal.

The innovation that Dr. Subbarao has steered towards making the RBI federal in thought and action – free of hierarchies and confirmation biases – is a case study for both public and private sector players. Wish we had many more CEOs with Dr. Subbarao’s vision and values. The quality of corporate sector governance is as big a problem as are cyclical ups and downs and external shocks. And there's a lot to learn from the prudence and precision of Subbarao’s outreach programs towards making our social development initiatives fit for purpose. 

Dr. Subbarao’s effort to free each concept of its intimidating jargon - more so for the novice reader - is evident across all chapters, which makes this book a treasure trove for students of economics and finance in particular. Every illumination has been made in simple language with a discerning desire to reach out to the common people who don’t have the time, inclination or intellect to decipher inflation numbers and interest rates – whether of the measure of financial integration, double-edged sword of globalization, supply-side triggers of inflation, perils of working with flawed data, myth of inflation targeting being opposed to growth, RBI’s unflinching transparency on government’s fiscal stance, the typical central bank quandary in striking a balance between the demands of the privileged, vocal industry fraternity and the mute voice of the common people yearning for lowering of prices, intricacies of monetary policy transmission and ensuing liquidity management through instruments like Open Market Operations, RBI’s lesser known roles and responsibilities including its social development agenda, domestic issues behind the currency slide beyond the taper tantrum trigger, challenge of exchange rate management and the attached Do something vs. Do nothing dilemma, tenets of financial inclusion or modus operandi of NBFCs.

Even readers who feel they have little to do with economics and finance will find the revelation absorbing, one that will evoke a powerful imagery of things you don’t expect from a mainstream book by a bureaucrat – capturing vivid details of the structure and layout of the Governor’s office and the timeless charm of his British-brand BHNS-maintained residential bungalow with ‘its wafting fresh air, cacophony of birds and heavy bunches of jackfruit’. Don’t miss his incisive interpretation of Jean Paul Sartre’s existentialist observation ‘Man is condemned to be free’ in the context of the question on what he would have done differently as the governor of the Reserve Bank.

In wonderful contrast to his profundity on philosophical issues is the ex-governor’s passion for adventure and recreation which is evident from the umpteen references throughout the 300-odd pages – whether his interest in 24-carat Bollywood products like Chennai Express and offbeat Prithvi Theatre plays, craving for Tardeo Maharashtrian eateries or penchant for inquisitive history tours around South Mumbai in ardent appreciation of the city’s emblematic blend of diverse architectural styles. And his wit, a recurring highlight of his insightful account, is superlative to say the least. Of course, it’s best read than cited.

The engaging anecdotes in the course of his pan-India journeys for outreach programs and financial inclusion initiatives are truly inspiring. Wish our branded activists take a cue from Dr. Subbarao’s freewheeling, ventilated approach to financial literacy. Thanks to the arid, bureaucratic mechanisms of conventional NGO bodies, proletariat activists and CSR practitioners across the globe, social responsibility, knowingly and unknowingly, has come to harbour several blatant assumptions about the larger cause of end-beneficiaries (often generically slotted as ‘target groups’ or ‘deprived’ communities) Conveniently overlooked in the process is the plain fact that their deprivation is only circumstantial and in no way indicative of the instinctive and intellectual capacities inherent within the community. Contrary to popular perception, the supply-side forces, in the mad rush to emancipate the downtrodden, are themselves found deprived when it comes to even reading the minds of the audience, leave alone identifying its needs. In peddling their jargon-heavy black and white prescriptions on financial prudence and general well being, they are knowingly and unknowingly oblivious of the expressions of playful amusement and suppressed yawns that the so-called ‘deprived’ reserve for the seemingly ‘privileged’ - - stemming more from doubt than disbelief. 

As for those from the journalistic tribe who wished Dr. Subbarao was more alpha male during his tenure, he has shown the virtues of a public beta release in the form of his book that now allows anyone to download his thought process. How many governors would attempt such introspection for open dissection which also talks of what he felt he could have done differently – like the need to adjust the stated policy on foreign exchange and make it more specific with respect to defining and managing volatility and building self-insurance?

Dr. Subbarao’s submission of the ‘twinges of guilt at the thought of millions of Mumbai slum dwellers under leaky roofs for whom the rain meant the loss of daily earning, and hungry children’ is particularly moving, given that he candidly shares his helplessness rather than choosing to overlook the obvious in line with the implicit demands of his official stature, for such predicaments, protocol says, are deemed too poetic for certified comfort. 

Given Dr. Subbarao’s conviction in sharing his no holds barred account, the real tribute to his effort won’t merely be the book’s critical acclaim; but some quality introspection by the powers-that-be as to how could the Government-Central Bank relationship be made more cohesive and solution-centric without diluting the sovereign fabric of the latter that we are all proud of.

Central bankers across the globe, we have seen time and again, are compelled to facilitate government access to near-free debt under the guise of fiscal spends. This ends up building a toxic cocoon for government debt issuance in the name of achieving growth targets. The haphazard lending that follows, eventually leads to systemic chaos in the form of rampant bank failures and consequent turmoil in bond and equity markets.

A healthy synergy between the Central Bank and the government should lead to more credible and sustainable solutions to various problems that stand in the way of India’s economic development. Prime among them is the NPA issue. It’s common knowledge that dealing with doubtful and distressed assets has always been the Achilles Heel of the banking sector. Barring a few players known for their stringent lending norms, most bankers try and downplay the whole issue through the usual philosophical sermon: That NPAs are an integral part of banking given the criticality of broad-based operations to profitability which exposes banks to all kinds of unavoidable factors like economic downturns and political upheavals. So, they claim, even the safest of loans can be rendered unproductive…

High time we stop hiding behind these lame excuses and collectively address some tough questions that make NPAs more elusive than what meets the eye. There’s no doubt that more RBI enactments would follow in the time to come. But unless we turn our attention to the fundamental questions surrounding NPAs, every RBI intervention will always seem more palliative than curative. 

Hope the new wave ushers in an environment of proactive prudence that penalizes banks and auditors for suspect motives that serve as a green house for NPAs. This way, banks, ARCs and their regulators would be left to deal only with the genuine cases of NPAs. For the Indian banking sector, that would a big leap forward.

It’s high time, we also demystified the glorious economic abbreviations that fuel a debate among practising economists and fiscal experts and yet mean little or nothing to the common man. Rather than board ceremonial flights of imagined realities consequent to the published data, our experts would do well to demand a governmental initiative to simplify the data for better public comprehension. Needless to say, caring for this precision and validation is the collective responsibility of the government and the private sector. 

"Fundraising is an inherently human process. It relies on trust and inclination towards the given cause. "

It was a quintessential Bangalore evening of inimitably pleasant weather and staple festive cheer.  I was at the Park Hotel, M G Road to attend another India Foundation for the Arts (IFA) hosted film screening, at the behest of my dear friend Darshana Dave, the tireless activist, clinical psychologist, and broadcast journalist all rolled into one tenacious lady who is never seen without her staple disarming smile. 

Just as we waited for the proceedings to begin, I noticed another lady on the mike, managing a  tight rope walk of keeping the audience occupied while setting things up, fighting Murphy's law with a Murphy's smile, exuding a peerless child-like innocence rarely seen in the intellectual tribe. Impressed by her polite and purposeful emails post the event to keep the IFA connect going, I checked her profile and saw quite a story manifesting in an unconventional and hence inspiring career voyage.

What instinctively followed was a Q & A with Aditi Rakhe, Manager: Corporate Engagements & Individual Donors.  

Multiculturalism seems to have been a defining feature of your upbringing… 

 

Yes, you could say that! I grew up in Surat, Gujarat. It used to be a small town way back then, far from the big city it has become today. Gujarat was not my hometown in the strictest sense of the word as both my parents had roots outside the state. My mom’s family had relocated from Kerala to Baroda, and my dad’s from Maharashtra to Ahmedabad. 

 

My grandparents, both paternal and maternal, were educators in the humanities: English, Social Sciences and Economics. In contrast, my parents took to medicine and became doctors. So, it was a great blend of thought schools in the household apart from the multicultural confluence. As kids, we had the luxury of being curious and creative irrespective of grades (as long as we didn’t flunk). I remember being a first bencher at school and relishing the learning experience as there was no compulsion of scoring competitive grades. 

 

The conducive environment helped me understand the multiplicity of my interests. I had a strong liking for all STEM subjects especially Mathematics and Physics, particularly the inherent problem solving aspect. At the same time, I thoroughly relished literature, English to begin with, and Gujarati and Hindi later in life. Of course, growing up in a multilingual house helped a lot. We spoke Hindi, English, Gujarati, Marathi, and Malayalam based on which set of grandparents were visiting us. (I have unfortunately lost my grasp over Malayalam, but am good at all the rest)

Study trip to Udaipur, 2nd Year B. A. (Arch)

 

What sparked your interest in Architecture? 

 

Given my interest in STEM, I went down the Physics-Chemistry-Math route starting grade 11^th . The start of this voyage was exciting, competitive exams were fun, and soon enough, I set my eyes on the staple IIT, NIT engineering streams. But at some point, in the latter half of my 12^th class, I was left exhausted by the IIT coaching all the way to a point where I no longer wished to pursue it. I had always been interested in the idea of making spaces, I had some exposure in my early years since my aunt was an architect. So, with everything else not working for me, I settled on architecture as a compromise between the arts and the sciences. 

 

Architecture school was tough, but it was here that I picked up managerial and organisational skills and learnt how to work relentlessly, the very nature of that course requires you to do that. I think B.Arch as a course is truly vast, encompassing elements of arts, design, mathematics, physics, law, literature, philosophy, travel. It’s a great canvas for self discovery, especially for someone in youthful prime. I discovered my love for visual arts, film, theatre and certain elements of design through that course. 

 

From Arch to MA  - was it 'trying new things' as you have put it or was it something more, say love for art history and conservation - or was this purely from an architectural conservation perspective? 

 

I had an interest in History of Art for a while. I had flunked in some visual arts subjects when I was very young (1^st or 2^nd grade) and my mother took it upon herself to find an amazing visual artist from MSU who would give me readings on Art History, both Indian and Western. Although I didn’t understand much, it fascinated me. I was especially drawn to a weekly called ‘The Great Artists.’ 

 

I would copy works of Van Gogh and Gauguin. These remain rare periodicals to this day. I feel lucky to have some preserved from that time. My art teacher also got me postcards from different museums and galleries, I have some of those as well. I think, this exposure to the visual arts left a very deep impact on me. It made me understand, on an emotional and subjective level, the value added to one’s life through the arts at a subconscious level.

 

Fast forward a few years, I did a year long practice-based architectural residency across India post my graduation. It was some 40 odd days of travel to Auroville, Bangalore, Ahmedabad, and Udaipur. Since it was practice-based, all of us had various design projects to work on. En route the travels, I found myself drawn to elements of cultural history which triggered my shift to the arts. I felt a compulsive need to go back to the humanities. 

 

I started applying for courses across India, the UK and USA. I narrowed down on Nottingham for obvious reasons: UK has a shorter masters, ideal for one who has undergone five years in an architecture school. The university offered good avenues for scholarships, and it was a relatively affordable city for an immigrant student. Nottingham also had some art spaces by and for different south Asian diaspora communities (especially a space called New Arts Exchange which continues to fascinate me!).

 

I had more avenues to work in a student town like Nottingham – I wasn’t so sure that would have been possible in a larger city. Lastly, University of Nottingham is a Russel Group varsity and has enduring relationships with renowned archives and libraries across the UK with other Russel Group Universities, so one has easier access to say a library in Cambridge or Cardiff.   

 

I was very happy with my professors and I think I learnt a lot about the virtues of critical thinking through this course. In the process of spending a year and half in Nottingham and another in London, I made some wonderful friends and indulged in some great artistic practices. 

Architectural Residency, 'Pitstudio' by Matharoo associates (Credit: Nandja Chopra)  

 

How was the brief stint as a Curatorial Contributor?  

 

As soon as I landed up in university in the UK I wanted to work. A lot of this was out of necessity – doing odd temp jobs to support my student life. I also wasn’t sure if I would have the chance to stay back and work after I graduated. So I wanted to start as soon as I could and learn work practices in the arts and culture sector in the UK. This is how I ended up interviewing for and getting work at a student curatorial team in Nottingham – Crop Up Gallery. It helped me explore some amazing artists from the city and the Midlands in the UK and we put together some great shows with a fantastic team. 

 

Through this gig I found out about an annual collaborative project between The University of Nottingham (i.e. my Alma Matter), the MFA department at the Nottingham Trent University, and one of the most prominent Galleries in the Midlands – Nottingham Contemporary. Each year, a group of MFA students from Nottingham Trent University (NTU) would make a response exhibition called ‘The Aftermath Project’ for an existing exhibition at Nottingham Contemporary. 

 

The exhibition they were responding to during my tenure – ‘The Place is here’ - really moved me on a personal level. It showcases important works from the British Black Arts Movement (1980s), which was an perceptive commentary on Britain’s colonial history, African and South Asian immigration to the UK, subsequent racial subjugation, as also on how diaspora artists responded to this back in the 80s. I was eager to work with MFA students from NTU and Nottingham Contemporary on a response exhibition no matter how short the stint was, and I am so glad I got the opportunity. It lent me fresh perspectives on how to think of the Arts within the South Asian Diaspora. For this project, I worked on curation, research, and exhibition design, but mostly I just watched and soaked in the insights. 

 

How did the Museum of Goa stint happen? 

 

My tenure at Museum of Goa came from a place of necessity. I had lived in Goa before, and I wanted to live there again. I knew there were some interesting Arts practices and experimentation happening there. I just wanted to be a part of the ecosystem. I started with an internship at the museum, managed a couple of exhibitions, and soon enough I was taking care of The Goa Affordable Arts Fest. This was my first proper stint with fundraising. I had to raise corporate sponsors, manage different moving parts and expenditure, as well as some elements of artwork sale. I learned most of what I know about administration in the arts from that stint.

 

Great Artists Periodical (Credit: Aditi Rakhe) 

What is TIFA Working Studios into? As programmes head, were you into fundraising?

 

TIFA working studios is a very interesting arts space in Pune. It’s a multidisciplinary arts space set in a thriving space that was once an Art Deco Hotel dating back to the 1940s. They hosted so many interesting residencies, festivals, talks, exhibitions and although I wasn’t directly in charge of institutional fundraising for the organisation, I did help bring in support for some of the programmes I headed especially The Futures Festival. 

Exhibition at Backlit Gallery with Crop Up (Credit: Crop Up Gallery)

 

Sahapedia.org seems to have offered you a bigger canvas to work on…

 

I enjoyed being the Project head of My City, My Heritage the most! It was such a special project – we did cultural mapping across 10 cities in India. We predominantly depended on local perspectives – local writers, photographers, scholars. So it was a large team of extremely insightful and talented individuals some of whom were extremely senior to me. I learned so very much from there. Most importantly, not only did I get insight into cultural practices from across the country but also a lot about administration of a CSR project. Sahapedia also gave me a potent platform to harness some interesting partnerships with museums and organisations to take both the projects – My City, My Heritage and Museums of India forward. 

Talk at length about your current role at IFA, the scope and size of it, challenges you lock horns with, as also the triumphs close to your heart...

 

I had always known and admired the work that India Foundation for the Arts (IFA) does. IFA has a legacy of supporting a diverse range of projects across mediums in different languages across the country and these have always been projects that would give voice to the unheard. More importantly, I resonated with IFA’s belief that the arts have a great sense of value in shaping individual and community lives. 

Exhibition at Backlit Gallery with Crop Up (Credit: Crop Up Gallery)

 

As a fundraiser at IFA, I handle fundraising from individuals and corporate engagements which includes Arts Services, Consultancies and Fundraising events. Art Services are services we provide in areas of our expertise such as event facilitation, arts-based workshops, performances and hosting talks by leadership in the arts which focus on sparking creativity, addresses sensitive subjects and improves team dynamics in corporate ecosystems. Under Fundraising events, we garner corporate sponsorship to support events that generate ticket sales in order to raise funds for IFA. So, these are some distinct forms of fundraising, unique and equally enjoyable. I think overall, any donation is a big triumph for a fundraiser. Every fundraiser understands that every single one of them makes a difference – no matter the amount. That is mostly because it is a source of encouragement for our work and for the Arts! I always cherish interacting with Friends of IFA. Such a diverse group of people with a strong shared belief in the impact the arts have.

 

In terms of challenges, I think fundraising for the arts in general is challenging especially when individual donations and giving to the arts is not very common, but we constantly try to let our work change minds by trying to enhance public access to the arts. I think it is a challenge worth locking horns with because of the value of each donation, be it corporate or individual or one picking up passes to an IFA event – all of it is very important to us, we cherish each and every one of those acts of support! 

Great Artists Periodical (Credit: Aditi Rakhe) 

 

Your recent CSR certification seems to have offered new actionable insights into your passion areas?  

 

The course gave me great insight into the applications and legalities of the CSR act. It helped me get my basics about institutional fundraising in India right, which is such a key skill. Moreover, the certification programme was designed to create a community of people in the not for profit sector, be it from NGOs, Corporate CSR or Governance. This community still goes strong and we tend to rely on each other for everyday questions and challenges within the sector, no matter which cause we support. 

If you were to start work life all over again, would you do things differently or stick to the same route?

 

The same route! My decisions with my career have been instinctive and that has added great value. It leaves one with fewer regrets as well. In hindsight, I think I would have added an administrative course because it would have helped my learning curve.

By your reckoning, how would fundraising evolve going forward?

 

My personal opinion is that fundraising is an inherently human process. It relies on trust and inclination towards causes, whatever they may be. Especially if the cause is as subjective and nuanced as the arts, I think the process of raising funds for it is reliant on human connections. I think, tech enabled process may be employed in the future to mitigate some workflows, but it is highly unlikely new tech would take the process over. I honestly, don’t have a clear answer to how fundraising will evolve over the years but maybe simpler tech enabled systems managed by insightful professionals would be my best guess. 

Exhibition design for the iranian artist, Saleh Kazemi at Museum of Goa (Credit: Saleh Kazemi)

    

What is your take on ethics in fundraising? 

 

Fundraising is as ethical as the fundraising organization itself is. IFA has been extremely transparent about its processes – we make sure we are very clear about who we are, what we do, and how we do it from the word go. We are happy to answer questions for donors, be it individual, institutional, corporate or anyone at all.  Another way I think one can ensure authenticity of donors is to not be afraid to turn down donations, if the source seems unreliable or unethical. 

 

Any thoughts to share with readers before signing off… 

 

I would like to add a small appeal for folks to contribute to causes and not for profits as much as they can. It doesn’t necessarily matter what the cause is. As long as it moves you individually and the NGO is doing great work, please don’t hesitate with donations. People tend to think that their Rs 500 in a donation box or them buying a fundraiser pass has little value but that is not true at all. I think, as a community, it is important for us to extend support in volunteering, donating in kind and more at our own capacity for the not-for-profit sector which works selflessly for their causes. To this, if I may add, donate to the arts! Every novel you enjoy, every film, every play, concert has grown from an ecosystem of scholars, musicians, actors, performers and thinkers who consistently work towards their craft and the evolution of their medium.  India Foundation for the Arts (IFA) supports this ecosystem in India. We are currently inviting individuals to help us raise our target of Rs 20 Lakh as the financial year comes to an end. The donation can start from Rs 250 and donations above Rs 5000 makes you a Friend of IFA. You could also donate your Reward Points or Loyalty Points to IFA via Points for Good. 

 

To know more, please check  Donate Online | India Foundation for the Arts (indiaifa.org)

 

Why is Worli’s Nehru Centre called the ‘Discovery of India’ building?

When eminent lawyer, politician, and activist Rajni Patel (1915 - 1982) resolved to set up a memorial dedicated to Pandit Jawaharlal Nehru, a motley group of scientists, historians, writers, litterateurs and thinkers across verticals got together to conceptualize the envisioned structure.

They relayed their ideation to visionary architect I.M. Kadri who brought it to fruition in the form of a distinctive, 260 feet cylindrical monument marked by intricate fretwork, and home to a magnificent auditorium, permanent exhibition titled ‘Discovery of India’, well-equipped library, lavish theatre devoted to performing arts, exquisite art gallery, and several spacious workspaces. Adjoining the structure is the grand Nehru planetarium.

The landscaped elevation from ground level represents India’s strong agricultural roots and primeval courtyard traditions. The subsequent inclines epitomize the country’s big leap forward in terms of industry, infrastructure, and commerce.

An interesting feature of the 1000-seater auditorium is its sloping roof (courtesy, the slanted garden above it) which could have triggered an acoustic nightmare but for the imposing M. F. Husain paintings that act as sound absorbers besides celebrating the Nehruvian principles of science, heritage and peace through a visual tribute.

----

PS: This building was the karmbhoomi of my father Dr. Yashwant Raikar after his retirement from the Archaeological Survey of India. He was one of the core team members who designed and developed the exhibition-centric theme titled ‘Discovery of India’ based on Pandit Nehru’s vision of India.

Breaking new ground with inimitable sling-shot precision

My first interaction with Vighnesh Shahane (this one) few years back was pretty formal, focused on key challenges and opportunities of the insurance space, and his plans and priorities for his organization which was then called IDBI Federal Life Insurance. It naturally stopped short of achieving the full bloom that our incredible like-mindedness and cricket-crazy psyche were ripe with, just that we were wholly unaware of the possibilities back then.

 

Hence, chatting with him via a video call on an indolent Saturday morning, on January 20, 2024 to be precise, I experienced the singular delight of a face-to-face interaction, reliving a truckload of mesmerising tales and trivia linked to the great game of cricket spanning all levels and all eras, which to me is a 24 by 7, 365 days preoccupation that runs parallel to my occupation (as if there was one I can call as truly mine!)      

 

One of the most striking aspects of Vighnesh’s persona, and there are several defining traits to choose from, is the absolute clarity that consecrates his thoughts and perspectives on all matters, from the casual to the monumental, from mainstream to offbeat. His spontaneous-yet-studied inferences are never black and white, and yet they are unmistakably conclusive and unwaveringly matter-of-fact. 

 

Ask him about fond memories of his 22-yard escapades and the dressing room chinwags, and pat comes the reply, “There are countless reminiscences but most of them being largely situational have lost much of their appeal if not weight. Having said that, I would like to recall two events that have stayed with me for the larger truths they carry and hence inspire me to do something similar in corporate situations.”

 

“The first happened in Feb 1992 during a 50-over Arlem trophy tournament in Goa where I represented Sungrace Mafatlal as a guest invitee and played under the captaincy of the flamboyant batsman Sandeep Patil. He applauded me for my performance and is believed to have put in a word for a potential place in the Mumbai Ranji team squad.  Lo and behold, I did get a call and my first Mumbai Ranji match was against Madhya Pradesh which had Sandeep as the captain. If that was not dramatic enough, my first scalp in first class cricket turned out to be Sandeep Patil. But for me, the moment that mattered to me was not the wicket I claimed, it was Sandeep’s generous gesture and uplifting words that echo in my ear to this day. Taking his gloves off, on his way to the pavilion, he stopped till the cheer around me waned, came forward, shook my hands and said, 

 

“Hearty congrats on your first wicket and wish you many more on the way forward.” 

 

To hear the opposition captain say that to a rookie during the  desolate walk back to the pavilion is a rare, million dollar gesture – a cherished memory that taught me the value of magnanimity of conversations and compliments.”

 

“The second memory is of my legendary Mumbai captain ‘Colonel’ Dilip Vengsarkar (in what was his last Ranji outing) who came up to me as I was marking my run up in my debut Ranji match, with Mumbai having won the toss and decided to bowl first. 

 

He said in his inimitable style, “Vighnesh, Give it your best shot, you are playing all the remaining matches all the way to the final” 

With those reassuring words, he gave me two implicit messages, one, ‘don’t worry lad, shun all the jitters, you have my back’ and two, ‘Mumbai is going to make it to the finals for sure.' Thanks to Dilip, I got a corporate mantra on a platter. I make it a point to personally talk to every new joinee of my company and put him or her at ease. I can’t explain in words the phenomenal effect of comforting words in building a lasting camaraderie with a greenhorn, having got a first-hand feel of the magic during my playing days.” 

 

The challenge with inspiration is that more often than not, we seek it from the world around us, never within us. No wonder we don't listen to Lao Tzu who told us to see new beginnings in painful endings, nor do we pay heed to Ralph Waldo Emerson who urged us to find the door lurking behind every wall. Well, Vighnesh belongs to the rare tribe that doesn’t lose sight of  pragmatism in evaluating any prospect. 

The moment he saw his career going nowhere post his seemingly hasty if not muddled decision to quit the Mumbai Ranji team and join Rajasthan at the behest of the revered and renowned Raj Singh Dungarpur, he was quick to take stock of the situation, however heart-wrenching it seemed! For this cricketer-turned corporate honcho, there’s no sitting on the fence, no making merry with approximations and conjectures, and no dwelling in emotional whimpering on the irony of fate that has more than once cast its spell at different junctures of his life.

 

“Somewhere I sensed I was not good enough to play cricket at the highest level.” he says without a sigh!

 

Well, we shall see in the last para of this thought piece why he was discernibly hasty in arriving at that surmise, but to continue his story in his words, 

 

“As regards quitting cricket, I have absolutely no regrets. I have fond memories of playing with my friends – initially of my BPT group and later fellow mates of my R A Poddar, Dadar Union and Mumbai Ranji team. I spent quality time with mates like Vimal Mariwala, late Gautam Sathe, as also Zubin Bharucha, late Rajesh Sanghi, Mazhar Ghadialy, Sairaj Bahutule, Raju Kulkarni, Salil Ankola, Abey Kuruvilla, Jatin Paranjpe, and Paras Mhambrey. 

 

I was always good at academics, a topper throughout school, and a cat in Math. So, I shifted focus on the MBA entrance exam. Like with all other pursuits, I gave it my best shot, cracked it by god’s grace, got into one of the premier management institutes, and eventually earned a coveted placement with a reputed bank.”   

 

There was no looking back for Vighnesh after that. Following fruitful stints at marquee banks like ANZ Grindlays, Standard Chartered, and Mashreq, Vighnesh’s career blosommed at IDBI Federal Life Insurance as he maintained a judicious line and length in managing the affairs of a joint venture between three entities with diametrically diverse legacies bound by an intrinsically common goal. 

In 2014, Vighnesh took over as CEO of the rechristened Ageas Federal Life Insurance to unleash a new era of achievements, awards and accolades. Not the one to fret and fume over the eons of untapped potential and the destiny-denied crescendo of talent and temperament which could never be unleashed at the highest level of cricket, the maestro stands tall, a good six feet and three and a half inches above the ground, a dynamic CEO taking the business world by storm with the same emblematic sling-shot agility that demarcated his short but significant playing stint.      

 

Looking back and coming back to cricket, how and when did the tryst with the game begin? 

His answer yet again is inimitably precise.

 

“This happened in two phases. One early childhood, and two, college years.” 

 

So let’s begin with the first phase.

 

“I grew up in the Bombay Port Trust (BPT) quarters in Colaba by virtue of my dad’s employment. School time was spent doing what most Mumbai kids do: play cricket in makeshift playgrounds with the quintessential rubber ball and later tennis ball. The BPT premises had a compound, a makeshift pitch that faced minimal window panes (lowering the chances of a typical ruckus that follows each time a glass is shattered), but was not big enough to accommodate the full flourish a pace bowler would like. The run up was not more than 5 or 6 steps. I intuitively realised the way to generate max pace from 5 to 6 steps was only through a sling-shot action that eventually became my trade mark and trump card. Of course, I had no idea then that it was called so, and was also oblivious to the fact that my action was similar to that of the Aussie legend Jeff Thompson.” 

 

And how did the second phase begin?

 

“As an adolescent, my life had a small corner reserved for cricket but I was mentally preparing for a career in education. The plan for to get into IIT. Cricket was only a tennis ball evening pastime with close friends. I took to pace bowling not from some inner calling or obvious talent. It so happened that I had a sudden spurt in height during this time. I was 5’ 10’’ in the 10th standard and midway through 11^th, I stood 6’ 2’’ which had me head and shoulders above most of my pals. I sensed I had to do something to make the most of this spectacular vertical progression, and my imagination got me back to the cricket field as a pacer with new found wings.”

 But was there any other motivation to think cricket in terms of a career?

 

“None in terms of role models from the game. I am the kind of guy who picks up things from every one around me, so there was no role model for me. When you play together, win together, and lose together on the playground, you capture a wealth of insights from your superiors and peers on how to think on your feet or make quick choices in real time, and the learning stays with you more organically than any classroom instruction or boardroom interaction can trigger.    

 

I used to closely observe the greats from the game, irrespective of their nationalities and specialities. But yes, we could say the environment had turned conducive to taking up cricket as a career just about that time. India had won the 1983 world cup, and cricket was just about witnessing good money if not big money. May be that had a role to play in my decision to try my luck on the cricket pitch.”

    

 

How was the journey to under-17 and post selection into the Mumbai Ranji squad, did the stakes get higher? 

 

“At age 16, I went for a trial and was selected for under-17 Mumbai team as I was bowling pretty quick in those days. I impressed the selectors who asked me my name and watched me closely from the side-lines. The fact that I was tall and it was a matting wicket made my job easier, I guess. My cricketing journey took off from that point. I was the highest wicket taker in that tournament. Soon after, I joined R A Poddar College which had an awesome cricket team where I rubbed shoulders with some of the legends of junior cricket." 

 

“I owe my professionalism to the disciplinarian V S “Marshall’ Patil sir and the entire ecosystem of my college R. A. Poddar. The first ball at the nets was bowled at 6 am sharp and the session continued till 10 am, come rain come shine, and Patil sir would be present at the venue at 5.45 am.  

For five years, I don’t remember going to bed after 8.30 pm for the fear of not being able to make it to the nets, such was the passion and discipline that Patil sir nurtured in each one of us. We hardly partied during that time, not even New Year’s as invariably there would be match slated on Jan 1^st. But the grind was great fun all the same! 

Yes, post selection, I did feel the pressure at times, more for the sake of the expectations that family and friends harbour on your behalf. The same process repeated in my corporate career, at the start, I had nothing to lose and everything to learn. Midway, when I was moving up the value chain, I sensed some anxiety but that I guess keeps you grounded, and in fact fuels your big leap forward.” 

Your entry into and exit from Dadar Union is part of the Mumbai folklore…

 

“Yeah, you can say that! V S sir eased my way into Dadar Union but it was Zubin who asked me to proactively make a request to that effect, else he said it was not sir’s nature to directly make a move. As Zubin saw it, sir was hinting at the possibility all along. The 'A' division Dadar Union was the haloed club which produced India cricketers, and I felt I had little chance as a 'E' division United Cricketers guy. But I somehow mustered the courage and went up to sir’s residence in Dadar half expecting him to fling a shoe at me in annoyance. To my utter surprise, he graciously got me registered in a couple of days. 

 

“At Dadar Union, I simply observed greats like Sunil Gavaskar and Dilip Vengsarkar not just play but react to situations. It was 'higher education' on and off the field.  I got a look in for all games the very first year, and I was the highest wicket taker too. However, in the second year, I was mostly benched. I took the decision to shift to Dadar Parsi Zoroastrian club which also had big names like Chandrakant Pandit, and Lalchand Rajput and I was raring to go on the cricket field.” 

 

“My relationship with V S sir post my exit from Dadar union was never the same again. ‘All go through the fatigue and frustration of bench time, even Sunil Gavaskar and Dilip Vengsarkar have been there, done that’ he told me. He sure had a strong point, and he wished well for me, but I knew I had to make it or break it at that tender age. I guess I was in some hurry.” 

 

In his corporate avatar, Vignesh has initiated several projects that gave back to the game he has not drawn much from in the material sense. Through an astute contrarian approach, Vighnesh served a business need, and, in the same breath, cherished his association with cricket with humility and gratitude. 

Giving insurance a positive spin based on wellness and wellbeing, Vighnesh weeded out the conventional negativity linked with insurance epitomized by themes like death, disease, risk, and uncertainty by going the sporting way to build awareness for his company’s offerings. Cricket being his home pitch as also the path of least resistance of India, he went ahead and incepted the MCA-IDBI Federal Life Insurance Bowling Foundation to hone domestic talent and develop world-class bowlers with Aussie great Jeff Thomson as the lead coach, which produced the likes of Shardul Thakur, Tushar Deshpande, and Prasidh Krishna. 

He also sponsors marathons in the key target markets of Kochi, Mumbai, and Kolkata with batting legend Sachin Tendulkar as the brand ambassador. Through CSR funding, his company is also supporting Dilip Vengsarkar’s cricket academy. He has tied up with Pullela Gopichand's badminton academy to create the next generation of achievers. In another first, he is also supporting academies devoted to the larger cause of Paralympics. But for me, one of his most touching gestures was his initiative with like-minded friends and mentors to felicitate the victorious Ranji trophy Mumbai team of 1971, which defeated Maharashtra in the absence of six celebrity regulars who were touring abroad at the time, a feat which was no less monumental that India’s ‘sunny’ triumph in the West Indies.    

Again, he is quite matter of fact about all and any of the offbeat ventures. 

 

“Starting the pace bowlers’ academy with Jeff was a no-brainer really. I saw it as an extension and evolution of the iconic and hugely impactful MRF Pace Foundation and the Tyson Mafatlal scheme which produced such India-playing names like Abey Kuruvilla, Paras Mhambrey, Nilesh Kulkarni, Sairaj Bahutule and Salil Ankola who have between them close to 2000 first class wickets and have been instrumental in winning numerous titles for Mumbai. I was simply emulating a highly successful model. And unlike popular perception, Jeff's appointment was not at my behest (wrongly attributed to the sling-shot connection). Former India head coach Greg Chappell recommended Jeff's name. The Ranji team felicitation is only a small gesture to honour the towering champions of Mumbai cricket who painstakingly built the ‘khadoos’ tag which remains Mumbai cricket’s best known identity to this day.          

    

Now, coming to the thread which we consciously left untouched at the start,  the fallacy of his inference rooted in self-effacement: the submission that somewhere he sensed he was not good enough to play cricket at the highest level.

 

I sense an elusive role of destiny influencing his supposedly free will choices all along; a celestial play from up above seems to have led him to such decisions and circumstances at critical junctures of his life that clearly came in the way of a potential India cap that would have undoubtedly done his unpretentious talent absolute justice. And yet, there was nothing right or wrong about any of the decisions he took in real time.

 

Consider these ‘what if’ scenarios:

 

Had he not left Dadar Union as coach V S Patil was vociferously urging him against calling it quits, would things have been different? Nobody ever dreamt of leaving Dadar Union after making it to the coveted club, so was it a case of an ordained, one-off bad dream?

 

Likewise, had he not quit Mumbai Ranji team and stayed put, somehow making merry with the merry go round of bowler selection and rejection, would he have made it to the India team as many of his contemporaries did. Maybe his sling-shot action could have put him in good stead.  

 

In the Mumbai vs Delhi Ranji encounter mentioned earlier, had Vighnesh really got Kirti Azad out and not ‘momentarily’, Delhi would have been left tottering at 12 for 4, but the wicket delivery was a no ball, a rarity in his case, and Delhi went on to amass 500 plus in a match winning effort. So, did fate have other plans, in what turned out to be a three-pronged denial: denying Mumbai its title, denying Dilip Vengsarkar his well deserved swan song, and denying Vignesh a star status in the team which could have helped cement a place, first in the Mumbai team and then team India.  

 

However, Vighnesh looks past the Greek tragedy with characteristic detachment. 

 

“Sharing the dressing room with legends like Dilip Vengsarkar and getting the Mumbai cap from him are in themselves haloed experiences I cherish to this day, and I still consider the Mumbai cap feat a notch higher than my elevation as the CEO of my organization.”

Vighnesh advises youngsters not to think in terms of careers but focus on jobs instead, like a cricketer thinks from match to match. “Don’t plan for a career, rather prepare for a career. Eventually you will reach the destination but celebrate the milestones on the way, big and small alike. Most important, never undermine the value of education. It is one lifelong asset you can always fall back on, should life decide to give you a jolt when you least expect it. In this IPL era, a star is born almost every hour during each season, and the big bucks arrive sooner than they ever did. But will the honeymoon make way for marriage, well, there is no guarantee! If there is one anchor which stays put, whether you rise or fall, is your education. First, invest in it for the long term, and then cherish it for a life time”

 

Vighnesh Shahane is running at his own pace in what’s a marathon of choice, breaking new ground with his inimitable sling-shot precision in a continuum that I strongly feel is helping him come full circle in a new avatar – that of a coach, mentor, analyst, and catalyst - to help young star cricketers in particular, and budding sportspersons in general, cope with the volcanic rise of their meteoric rise. 

 

So many IPL-stamped youngsters across all teams are fast turning into a spent force way too early in their careers, as they don't know the difference between aggression and assertiveness. They need mentors like Vighnesh to seamlessly cut across cultures and learn how to build a lasting camaraderie beyond comfort zones. Who better than Vighnesh to help our raw, rustic but immensely talented Young Turks move up the value chain of personal and professional success, on the wings of unassuming talent and the right temperament.  

Hope he takes up this role someday soon and if he does, I am more than sure, this time round the game will be in a 'Santa Claus' mood to give loads of fulfilment to the man who is still at heart a cricketer slogging it out in the metaphorical Mumbai maidans, albeit in ways most eyes and ears would not register.