Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance

Prasanthi Nilayam is hosting a two-day National Conference on
Ethics and the World of Finance

Today the 28th of August was a very special day in the history of Prasanthi Nilayam. Not sure where to start to describe such a unique day. This was the day when the India's THINK TANKS of the Commerce world were present but there was no commerce exchanged. This was the day when all the heads of Banks in India thronged to Parthi but not even an account was opened, This was the day when every body were contemplating on their mistakes, digging into the causes for this so called financial recession which the whole world is experiencing.

Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance

Today there was a unique conference Ethics and World of Finance' held in Puttaparthi, in the auditorium of Sri Sathya Sai University. This was a very unique conference where every one were trying to know the real use of money. They came to the Master who says, Money comes and goes, Morality comes but Grows, They came to the Master, the Avatar of this Kali Age who says, money is the last thing you should be running after. The audience were of the back ground to whom MONEY MATTERS matters a lot. Many of the CEOs of the banks were quite not sure as where they ended up coming, many of them didn't know why every one in this little town ADDRESS Sairam! But in the sanctum sanctorum of their hearts they knew they came to the right ADDRESS.. Prasanthi Nilayam the abode of Highest peace where Lord in Human form has incarnated..

Swami out of His immense mercy paid a visit to the Institute auditorium this morning just before 10am to preside over the Ethics and World of Finance conference. The little auditorium was packed with dignitaries from all banks of India. On the stage were seated Mr. Subba Rao the present governor of Reserve Bank of India, the governing authority for all banks in India, and Mr. G.V.Reddy the former governor of Reserve Bank of India. Blessed were those students of MBA especially of Finance specialization to get such a high profile guests for their conference which is definitely a nice learning experience and that is where Swamis students stand apart from other institutions. Those are the dignitaries who dont have time even to take a deep breath, but came here to breath the Divine Aroma of this holy land. No business school any where in the world for that matter, would have a gathering of such big number. Most probably they would be successful in bringing local branch managers of few banks in their town for such conferences but not the CEOs of all banks in India all one the same day sharing the same dais..
The conference was also held in such a situation where apart from the global financial crisis, Reserve Bank of India, a governing body, which is supposed to scrutinize all the financial activities of all the banks was under much criticism as there were innumerable incidents of frauds in financial sectors be it banks or chitfund companies. Another major problem India is facing is the counterfeit currency notes whose percentage has gone up to 4% now.

Swami out of His immense mercy paid a visit to the Institute auditorium this morning just before 10am to preside over the Ethics and World of Finance conference.

Swami started the conference by lighting the lamp and after the welcome address from Mr. Pandit, Vice Chancellor of Sri Sathya Sai University, Mr. Subba Rao spoke in length the present situation of financial sector and stressed the need for Ethics in Finance sector. Mr. Subba Rao with a very good academic and professional track record asked for more reforms in the banking sector. He also spoke on length about the law and the kind of manipulations many financial institutions are practicing which ultimately is resulting in banks going bankrupt. He was of the opinion that every one should whole heartedly contribute towards making the law more stringent and common man friendly instead of banker friendly. Mr. Subba Rao gave an interesting example of Burnham Lamber investment was convicted of insider trading in one of wall streets biggest scandals. Mr. Subba Rao gave an interesting in-depth analysis as how this happened. According to him it was very easy job. In seven years he multiplied a paltry $40,000 into $12 million and all it took was a 20 second phone call to an offshore bank a couple of times a month about 200 calls in total.
Mr. Subba Rao continued to say, the word credit is used at least billion times a day.. Credit is derived from a Latin word credere which means BELIEVE.. With this word, which really means a lot to a common man, we are manipulating our financial statements, manipulating the schemes, the interest rates and so on. With this word, Nicklesson, the British trader single handedly caused the collapse of one of England's most venerable banks in the mid 90s.

Mr. Subba Rao, continued to say, Only evil minded person can be the cause of big scandal. This is the right time for all of us to get all the strings tight and get the rules more stringent and practical. By doing so incidents like the recent case of Bernie Madoff, former head of New York Stock Exchange, whose Ponzi scheme robbed millions of individuals of their life savings and looted the treasuries of charitable institutions can be avoided..

Mr. Subba Rao also quoted the example of the recent and most notorious white collar scam that happened in India, with the Sathyam Computers. The management, MANAGED to do the window dressing and showed their balance sheet as high profits for good 10 years and no one knew any thing about it. (Btw the CEO of Sathyam Computers, Mr. Rama linga Raju who is now resting his heels in the jail was made to sit next to Mr. Bill Clinton when he came to Hyderabad in the position of President of America)

Mr. Subba Rao's talk was a thought provoking one. A definite lesson for every one and it was very nice to hear (at least) the kind of reforms our Financial heads are going to bring into this society which they promise will be scam free one.

The next speaker was Mr.Y.V.Reddy the former governor of Reserve Bank Of India. Mr. Reddy also stressed upon the values and ethics in commerce. It is all the evil tendencies which is leading into scams and bankruptcy. Mr. Y.V.Reddy ended his talk saying India has so much of natural resources which has the capability of fulfilling every body's NEEDS but not the GREED which is where the crux of the problem lies..

Swami who was seated right through the session which lasted for close to two hours, was listening with rapt attention. Many times, Swami smiled at the speakers and gestured with applauds when one made a good point. He was completely in a very active mood today. Probably because of the length of the problem Swami seemed to play with His holy Feet, some times putting the right leg on the left one, and vice versa. At one time, Swami's Holy Feet came much further beyond the foot rest when the boys who saw this offered another extra foot rest Swami with a sweet smile said no need.

Swami from whom we learn the minutest things, was playing a perfect host to the dignitaries. After the speakers finished their talks and when they went upto Him for His blessings, while making a point to them, Swami reached for their hands, slowly pressed them like a caring mother, one time patted them for the good talk and made sure they were comfortably seated. Every one who were watching would have just bowed down for the down to earth approach of Swami. Swami Aap laa javab Ho

After both talks, the registrar came upto Swami to request Swami to bless the speakers with memento for which Swami readily accepted. Two tiny replicas of Swami's Sarva Dharma Stoopa which is near His residence, was brought and Swami with a beautiful smile gave each to the present governor of RBI and to the former governor. Sarva Dharma Priya Deva was Sarva Bank Priya Deva today in the immediate presence of all the representatives of the banks..
Every one were eagerly watching if Swami was going to speak, the mike was almost brought, but was send back probably because it was almost getting closer to 12pm…After Arathi Swami left to the mandir where bhajans were still on in Sai Kulwanth hall and after second arathi Swami was back to His Physical Abode..

This evening programme was a continuation of the morning programme and the venue now was shifted to Sai Kulwanth hall. All the dignitaries were given seats on the dais. Mr. K.V.Kamath, Former Managing Director, ICICI Bank Mr. V.S.Das, Executive Director,RBI Mr. Jagdish Kapoor, Chairman, HDFC Bank Mr. Rama Moorthy of ING bank and many others were present

Swami blessed the august gathering just after 5pm. After taking a full round Swami came on to the dais and joined the bankers on the stage. Mr.K.V.Kamath from ICICI bank was asked to speak who shared his views on ethics in Finance sector.Mr. Kamath whose bank opened a branch very recently in Parthi said, inspite of all the financial recession all over the world, the effects of the same was seen bit less in India and the main reason behind it is the spiritual back ground of Indians. Because of spirituality and guidance from Masters we were able to face this problem bravely and it is a real boon.

The next speaker Mr. Rama murthy of ING Vysya bank on a personal note thanked Swami for saving him from the recent terrorist attacks in Taj hotel. He was of the opinion that all the financial institutions should be opened with a service motto apart from earning profits. Now a days, every one comes out with this idea and they start calculating as how much they can get from society instead of how much they can give to the society. He praised Swami's education system and His institutions and hoped that students of this background would become handy in the near future..
Later it was the turn of Mr. V.S.Das executive director of RBI who promised that RBI which is celebrating its platinum jubilee would come out with more stringent measures to control fraud in finance sector and safe guard every penny saved by the common man.

It was the turn of Mr. Jagadish Kapur, Chairman HDFC bank, whose branch is also open now in Parthi,coincidentally, the manager of the bank is Swami's ex student, thanked Swami for allowing him to come to Parthi very often. He was of the opinion that there was no other place in this world better than Puttaparthi to hold a Conference on Ethics and the world of Finance as everybody carries moral values here in this holy place..

Swami then asked our own Prof. Venkatraman,to address the gathering. Prof.Venkatraman was of the opinion that the TRUE LOVE is not to be seen in bollywood movies but has to be experienced with Swami who is the PURE LOVE Himself. Prof.Venkataraman made an interesting statement keeping in view of the number of bankers on the dais..Swami is not interested in the fixed deposit that we have in the banks, but he is interested in the interest earned by the fixed deposit of LOVE that is with in us..
Swami has been sharing this DIVINE love since 1940 and much before that.. He also explained various unbelievable projects taken up by Swami and the message behind it.

After 15 minutes Sri.Venkatraman ended with a prayer to Swami thanking him for this surprise talk for which he was not ready at all..

It was already 10 passed 6pm and Swami asked for Sri Raghavam bhajan and around 6:30 arathi was given to Swami thus pulling the curtains down to an amazing day which spoke of Spiritual Bank Balance to the audience who were more considered about the PHYSICAL BANK BALANCE.. Time has come for us to choose which BALANCE we need the most or at least try to balance in maintaining the BALANCES with the needle slightly pointing towards Spiritual Bank balance and this will be the perfect time for us to think about this BALANCE as we got our beloved Lord, amongst us a very very rare opportunity that He has bestowed upon us..

With humble Pranams at the Lotus feet of our beloved Lord,
JAI SAI RAM ...submitted to
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Inaugural Function
Ethics and The World of Finance - Report on the Inaugural Function - 28th Aug 2009 - by Posted at 0005 hrs. on 29th Aug 2009


Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance

Inaugural Function

Ethics and world of finance are two subjects that stand poles apart considering the erosion in business ethics in the corporate world of finance. Sri Sathya Sai University, in its relentless pursuit to bring quality in the world of business management, sends out hundreds of qualified graduates through its value based management programme, every academic year.

In an attempt to match the two ever repelling poles, ethics and finance, a high-profile two-day conference on the theme “Ethics and the World of Finance” was organized by Sri Sathya Sai University in the University Auditorium, on the 28th and 29th August attended by captains from the world of finance and banking, from within India.
The conference got underway on the 28th August morning in the august presence of the Chancellor of the University, Bhagawan Sri Sathya Sai Baba, amidst the presence of scores of high-profile dignitaries from the world of finance and banking, including the Governor of Reserve Bank of India, Dr. Duvvuni Subba Rao and the former Governor, Mr. Y.Venugopal Reddy.

In the morning the University campus, the venue for the conference, was abuzz with final touches of preparations. The entire campus was decked up with flowers and festoons pumping in freshness and beauty, welcoming the Host, the Divine Chancellor and His Eminent Guests of Honour.

…And amid expectations and prayers Bhagawan arrived at the venue just after 10:00 a.m. to a traditional Poornakumbha Swagatam. Bhagawan was received by the Vice Chancellor, Prof. Vishwanath Pandit and Prof. U.S.Rao, Principal, Prasanthi Nilayam Campus. Coming onstage Bhagawan was given a standing ovation by the capacity audience filled in the University Auditorium. Thereupon the Conference got underway with the Divine Chancellor lighting the lamp marking the official inauguration. Chairpersons for the inaugural function, Dr. Duvvuni Subba Rao and the former Governor, Mr. Y.Venugopal Reddy were garlanded by Dr. Narain Ramji, and Mr. Srirangarajan, Registrar and Controller of Examinations of the University respectively, before the commencement of the day’s further proceedings.


Delivering the welcome address, Prof. Vishwanath Pandit, expressed his deepest sense of gratitude to Bhagawan, but for whose Divine Will such an event would not have been possible. Calling the event a unique occasion, the Vice Chancellor made a mention of the participation of the top echelons from the banking and financial sector along with academicians of repute.

Highlighting the direct relevance the conference has with the current world affairs, Prof. Pandit was categorical in emphasizing that value based education has to be practised in life, rather than confining the same to bookish knowledge. Calling the Sri Sathya Sai University a unique institution par excellence, Prof. Pandit made a mention about the University’s contribution to the society by sending out students with ethical values and academic perfection. Interestingly, he mentioned about the remark of the high-power parliamentary delegation visited the University in the year 1997; the delegation had suggested that the same system of education should be replicated. The UGC delegation visited the University in September 2008 made a similar remark, unofficial though. The delegations remark was that “what we see here is exceptional and must be replicated. This place does not need our support; we need the support of the University”.

Divulging the conference schedule that was divided into four parts, the Vice Chancellor said, the conference would deal with panel discussions on (1) quintessence of ethics, (2) Behaviour and Structure of Financial Institution, (3) Role of the Government and Regulatory Authorities and (4) Role of Education.

Thanking Bhagawan and Prof. Pandit profusely for the wonderful opportunity given, the RBI Governor, Dr. Duvvuri Subba Rao, in his key-note address confessed that he had not dwelled upon the subject of reference much in detail before. Calling the subject of reference as relevant in the present time in the face of economic crisis, he said all of us face ethical struggle in our daily lives. Conceding to the point that financial sector scores less ethical values, Mr. Rao opined that the sector was a reflection of society and ethics could be brought fostering a value system in society at large.

Referring to the global financial crisis he said, the crisis brought a massive breakdown of trust in the entire institution. Banking sector is in the hands of government and government cannot afford to fail the institution. If the bank is a success share holders and management will be benefited and when the bank loses the public are the worst sufferers, be it banking or any other financial institution. Banking and Financial sector share the conscience of obligation that they have in the larger interest of the society, said Dr. Rao.

Concluding his speech the Governor listed out the ethical dimensions of Reserve Bank of India, listing the bank’s roles and responsibilities being the guardians of nation’s financial security.
The high-profile guest of honour’s subject oriented lecture spreading across the essentials of financial fabric, intertwined with illustrations and examples was a treatise of relishing treat for the audience especially for the students from the University.

The next speaker, the Ex-Governor of RBI, Mr. Y. Venugopal Reddy, delivering the “invited lecture” sent out a barrage of questions with reference to the recent global financial crisis. Referring to some of the “Questionable Practices” that could have caused to spur the crisis Mr. Reddy drew the audiences’ attention unto the previous crisis in the early nineties. Listing out the consequences thereon, Mr. Reddy sounded interrogative as to whether the present crisis would bring similar consequences. Speaking about values, morals and ethics versus market and government, he said the world of finance is a different ball game and is entirely based on Trust. He ended his speech quoting Mahatma Gandhi, there is enough in this world to meet the needs of everybody but there is not enough to meet the greed of even a single person.

Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance

The last speaker for the session was Mr. S.V.Giri, formerly Vigilance Commissioner of India and the 6th Vice Chancellor of the Sri Sathya Sai University. Summing up the morning session he chose to speak about Swami and His teachings. Highlighting the five cardinal human values as pillars of Sanathana Dharma, Mr. Giri opined that “Truth is non-negotiable”.

The participants for the Conference are, Dr. Duvvuri Subba Rao, Governor, RBI, Dr. Y.Venugopal Reddy, Ex-Governor, RBI, V.S.Das, Executive Director, RBI, A.Giridhar, Executive Director, IRDA, R. Sridharan, MD, SBI, Jagdish Capoor, Chairman, HDFC Bank Ltd., K.V.Kamath, Former Chairman, ICICI Bank Ltd., R.S.Reddy, Chairman cum Managing Director, Andhra Bank, Gunit Chaddha, CEO-India, Deutsche Bank, Uday Kotak, Executive Vice President and CEO, Kotak Mahindra Bank, Meera Sanyal, CEO, RBS/ABN Amro Bank, Ravi Duvvuru, Group Head, Compliance, Kotak Mahindra Bank, K.R.Ramamoorthy, Chairman and MD, ING Vysya Bank, Kalpana Morparia, CEO, JP Morgan-India, Amitabh Chaturvedi, MD, Dhanalakshmi Bank, K.R.Kamath, CMD, Allahabad Bank, V.Vaidyanathan, MD and CEO, ICICI Prudential, Aditya Puri, MD, HDFC Bank Ltd., Sreeram Iyer, CEO, Stanchart Bank, Usha Narayanan, Executive Director, SEBI, Ajay Srinivasan, Chief Executive, AV Birla Finance Services, S.Narayanan, MD and CEO, IFFCO Tokyo Gen Insurance, A. Balasubramanian, CEO, Birla Sun Life AMC.

The inaugural session was attended by the students and staff of Sri Sathya Sai University, Prasanthi Nilayam Campus along with scores of other dignitaries.

Back in the mandir, Bhajan was on and it was noon arathi at 12:20 pm. Bhagawan, upon retiring to Yajur Mandiram, came to the mandir at 12:10 pm to grand a special audience to Dr. Duvvuri Subba Rao, Governor, RBI. Arathi was offered at 12:20 pm upon which Bhagawan retired to Yajur Mandiram.




 Report on the Evening Function - 28th Aug 2009
Ethics and The World of Finance

WHEN FINANCIAL CAPTAINS SPOKE... - Report on the Evening Function - 28th Aug 2009


28th Aug 2008 - Evening

Posted at 0300 hrs. on 30th Aug 2009

After the glittering inaugural session in the morning a special stage was set for the Guests of Honour in the evening in the Sai Kulwant Hall. Bhagawan arrived just after 1700 Hrs. for a complete round upon which He came on to the dais to occupy the centre-stage feasting the eyes of thousands of capacity of audience.

Dr. Narain Ramji , the Registrar of Sri Sathya Sai University, in his introductory speech briefly summed up the inaugural function held in the morning. Calling the evening session to be very special as the same was to be convened by Bhagawan Himself, Dr.Ramji introduced the Guests of Honour for the evening session, captains from the Financial and Banking Sector to come and occupy their seat on the dais. As their names were called, the dignitaries came one by one, presenting a rose to Bhagawan before occupying their seat on the dais.

The first speaker for the session was Mr. K.V.Kamath, formerly Chairman ICICI Bank Ltd., and currently Non-Executive Chairman of ICICI.
Calling it Bhagawan’s foresight that made such a unique event a possibility, Mr. Kamath hailed the University’s initiative, which according to him was a first time happening at a University level that would discuss in detail issues that have been raised following the global financial crisis. The whole crisis should be seen from the point of view that the two strong pillars, Truth and Dharma (Righteousness) were under challenge.

Elucidating on the crisis, Mr. Kamath further dwelled upon as to how to prevent such challenges in the global financial system in future. Roots of the crisis was from the west, symptoms of which were seen two years ago, and a deeper analysis raised lots of ethical issues that were seemingly under threat, said Mr. Kamath.
Various rungs in the financial fabric, be it the providers of finance, be it the customers, the governments, be it the rating agents, Mr. Kamath sounded suspicious that compromises on ethical grounds, especially on Truth and Righteousness at various rungs or between various players would have added in boosting the crisis.


The conference, according to him, would deliberate on solutions to prevent recurrence of challenges of similar nature for the future well being of the financial services sector. Highlighting India’s survival without much impact from the crisis, Mr. Kamath was candid in attributing the same to the nation’s rich spiritual and religious base, resting on the two pillars, Truth and Dharma.

My belief is that the core we have in terms of the teachings we have imbibed for ages that are continued to be taught to us by Bhagawan are the reasons why we have been able to withstand the challenges swept the whole world. There could have been no better place to deliberate, understand and find solutions for the future than this place. Going back to morality, going back to ethical values, going back to fairness would be the solutions to prevent such happenings in future, said Mr. Kamath.
With Divine Blessings and foresight from the seminar we would build an even more robust financial system that would be the underpinnings of an India which could be a leading pillar in the world based on two strong pillars Truth and Dharma, said Mr. Kamath concluding his speech once again thanking for the wonderful honour conferred upon him.

Mr. Kamath was followed by Mr. Gunit Chaddha, CEO-India, Deutsch Bank. Starting with prayerful salutations to Bhagawan, Mr. Chaddha told that the opportunity to stand before and speak in His Divine Presence is the most humbling experience of his life. “It is truly an honour and privilege to submit myself before the Lotus Feet of Bhagawan Sri Sathya Sai Baba. I have visited Prasanthi Nilayam and Sai University many times over the last decade, and each time I have returned with even greater passion. But, today, standing here and having an opportunity to speak with the permission of Bhagawan is truly the most humbling experience of my life for the last forty eight years”, said Mr. Chaddha.

ms Usha Narayanan executive director SEBI offer pranams to Sri Sai Baba

Referring to the topic of discussion of the conference, he said, such a thing could only happen in the beautiful Abode at Prasanthi Nilayam. The topic of discussion is time agnostic and debating at the university is most appropriate. The foundation of education of 6000 alumni of the Sathya Sai University is on the two Vedic injunctions, Sathyam Vada, Dharmam Chara, meaning, Talk the Truth, Practise Righteousness, which could be hailed as the two strong pillars of the world of finance, the bedrock on which Trust and Confidence have been built, said Mr. Chaddha.
On the subject of ethics, he conceded that his first experience of combining ethics with finance was 8 years ago when he was at the helm of affairs with IDBI; when he had an opportunity to lecture on the subject, teaching the class eleven students of Cathedral School, rather than teaching he came out learning more from them and it was one of the most exhilarating experience.

Connecting ethics with the Sai University students, Mr. Chaddha, based on his close association with the students and the Sai Institute for over a decade, he tried to draw parallels between Sai Students and the World of Finance. Both are based on strong technical knowledge and excellence and the impact on the society that Sai foundation could claim is similar to what banks are trying to do by way of financial inclusion; the value based education and truth practised here is the trust that bankers are trying to build in the world of finance.


Echoing the view of one of his colleague during the panel discussion in the morning, he said, banks of future would be banks that combines simplicity, humility and prudence, the very values that he could find every time when he visited Prasanthi Nilayam.

On the current economic crisis and global subprime pricing, Mr. Chaddha was of the opinion that it was not just Risk Managemt and Over Leverage that could have boosted the crisis, but should seriously look into the moral side, eroding moral values. Culture and tone from the top was sacrificed for profit and loss. He illustrated the crisis as visualized by his twelve year old son who described the same like a car crash in the New York express way. Cars were the banks and drivers were the bankers and the people who got injured were public….Bankers could have been bit more cautious checking their values system in their chase for greed, opined Chaddha.
Agreeing to Mr. Kamath’s view about a strong national finance system, he said, Indian financial services system is solid and stable and part of the reason could be attributed to the value systems of India, family values and educational values coupled with a most balancing regulatory system that is strictly adhered to rules and prescriptions.

Capitalism can co-exist with strong ethics, sufficient state intervention for resource allocation. In his message to the students of Sathya Sai University, Mr. Chaddha exhorted them that the values they stand for are much needed in the financial services sector, come and be with us… Sometimes there could be a conflict, but, we need to be strong in values, we need trust, we need confidence.

Referring to his visit (some time ago) to the Sri Sathya Sai Super Speciality Hospital, where there are no cash counters, probably the only one of its kind in the world, he said, if the progress of India could be measured, more such hospitals could come up, if only Indian philanthropy could match Indian entrepreneurship, even if it means that bankers could go out of jobs in not having cash counters...he added in a lighter vein but with a serious intention about a progressive India with such noble ventures.
The third speaker for the evening was Mr. K.R.Ramamoorthy, Chairman, ING Vysya Bank. Talking about his miraculous escape from Taj Heritage on the fateful day of 26th November 2008 from the captive of terrorists, he said it was sheer grace and benevolence of Bhagawan that saved him his life, virtually granting him a new birth. His visit was partially aimed at attending the conference and partly to dedicate his second life at His Lotus Feet.

The third speaker for the evening was Mr. K.R.Ramamoorthy, Chairman, ING Vysya Bank

Talking about the scarcity of true institution builders, Mr. Ramamoorthy opined that Institution and individual reciprocity is slowly giving away and everyone looks into individual gains forgetting about the concept of building up an institution. There are very few Institution Builders emerging in our country. Efficacy of a leader is felt in his absence, when others recall his presence in the buildup of the institution. You cannot find a better institution than Sai Institution and a better leader than Bhagawan who leads an exemplary life, said Mr. Ramamoorthy.

To students, talking about the world financial crisis, he said, subprime securitization has practically destroyed the legitimacy of financial capitalism in the whole world. There has been an omission, commission and collusion and the consequences were the disastrous meltdown. None visualized that things were going wrong, and in retrospect, one could find, few internal controls, poor quality of attestation by auditors, lack of due diligence, poor call by rating agencies, lack of investigation by the press, destruction of social norms and ignorant electorates. Many such factors contributed towards the collision. We move from government to governance, governance to accountability to responsibility and finally to integrity...exhorted Mr. Ramamoorthy, stating that all these would stand in our professional life.
A banker has three hats…as a professional you are competent and your absolute integrity is unquestionable; by virtue of dealing with other’s money you are a brokerate and by aiming at insuring the sustenance of the financial institution you are ought to be an entrepreneur. One needs to play these three roles diligently. While moving forward in your career, hold on steadfast, to integrity, moral values and ethical principles. Concluding his talk, he hoped that Bhagawan’s students would outshine in building institutions of durable nature.

The fourth speaker for the session was Mr. V.S.Das, Executive Director, RBI. Claiming the day to be the best day in his life, by virtue of being in His benign presence, Mr. Das appreciated the wonderful conduct of the ongoing conference. Recounting Bhagawan’s adage, “My Life is My Message”, he said, one could get greater lessons by attending such conferences, wherein practical demonstration of hospitality, system supported management, organizational ability, all were in demonstration for one to see and imbibe.

Being the representative of the Reserve Bank of India, he divulged into the bank’s effort in bringing monetary stability in country’s financial structure. The Reserve Bank has prescribed a set of comprehensive regulation that would ensure financial stability, if followed in letter and spirit, which could avert any financial crisis, claimed Mr. Das.
On the subject of discussion, he said, values and ethics flow from a heart with affection for fellow beings. Why talk of morality and ethics only when we reach a stage when we are operating banks? These values should start at the grass root level, at the individual level which should help building a society wherein these values could be imbibed. Business is run on the terraforma of society. If the individual is sound, society would be sound and business also would automatically become sound, said Mr. Das reflecting Bhagawan’s teachings.

Speaking about RBI’s effort to provide sound financial system in the country, Mr. Das said, neglected section of the society would be taken care to improve their standard of living, which in turn could come only through commitment and proper sensitization of staff…and this would bring a single India that has no economic division between poor and rich.

The fifth speaker for the session, Mr. Jagdish Capoor, Chairman, HDFC Bank Ltd., in his short speech highlighted that financial affairs were in no way separate from the moral values that we carry and there could have been no better place for holding the conference than the Sathya Sai University, where each student would carry with him impeccable discipline and high moral values as taught by Bhagawan and followed by everyone in Prasanthi Nilayam.
Prof. Venkataraman, the 5th Vice Chancellor of Sri Sathya Sai University spoke in detail about various service projects taken up by Bhagawan, that included the medicare, water project, housing project scheme in Orissa etc. Reiterating what Mr. Kamath outlined in his speech, solutions to human problems could be found by going back to the two strong pillars of Sathya and Dharma with love as the essential tool, said Prof. Venkataraman concluding his speech.

The participants for the evening session were Mr. V.S.Das, Executive Director, RBI, A.Giridhar, Executive Director, IRDA, R. Sridharan, MD, SBI, Jagdish Capoor, Chairman, HDFC Bank Ltd., K.V.Kamath, Former Chairman, ICICI Bank Ltd., R.S.Reddy, Chairman cum Managing Director, Andhra Bank, Gunit Chaddha, CEO-India, Deutsche Bank, Uday Kotak, Executive Vice President and CEO, Kotak Mahindra Bank, Meera Sanyal, CEO, RBS/ABN Amro Bank, Ravi Duvvuru, Group Head, Compliance, Kotak Mahindra Bank, K.R.Ramamoorthy, Chairman and MD, ING Vysya Bank, Kalpana Morparia, CEO, JP Morgan-India, Amitabh Chaturvedi, MD, Dhanalakshmi Bank, K.R.Kamath, CMD, Allahabad Bank, V.Vaidyanathan, MD and CEO, ICICI Prudential, Aditya Puri, MD, HDFC Bank Ltd., Sreeram Iyer, CEO, Stanchart Bank, Usha Narayanan, Executive Director, SEBI, Ajay Srinivasan, Chief Executive, AV Birla Finance Services, S.Narayanan, MD and CEO, IFFCO Tokyo Gen Insurance, A. Balasubramanian, CEO, Birla Sun Life AMC.

There was a documentary film show on Bhagawan’s Mission and various service activities in the multimedia theatre at the Sri Sathya Sai Sadhana Trust, Publications Division office on the evening of 28th August 2009.


 Divine Valedictory Address-  29th Aug 2009
Ethics and The World of Finance


Ethics and The World of Finance - Divine Valedictory Address- 29th Aug 2009

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Valedictory Divine Discourse: Ethics & The World of Finance: 29th Aug 2009

The body is made up of five elements and is bound to perish sooner or later, but the indweller has neither birth nor death. The indweller has no attachment whatsoever and is the eternal witness. Truly speaking, the indweller, who is in the form of the Atma, is verily God Himself.
(Telugu poem)

The Dehi (Indweller) has no bondages. Dehi is also referred to as Atma or Brahman.

Embodiments of Love,
People worship God is several ways and develop faith in Him. However, God has no name or form. He is one and only one. Yet, people call Him by different names like Rama, Krishna, Allah, Jesus, etc. These are all their individual fancies, but God has no particular name. God is one. Ekam Sath viprah bahudha vadanti (truth is one, but the wise refer to it by various names). The one God is referred to and worshipped by various names and forms. These forms ascribed to God are the result of one’s imagination and as portrayed in some paintings. In fact, no one has ever visualised God. In whichever form one contemplates on God, He will manifest in that form. God is one, not two!

Every individual refers to themself as ‘I’, ‘I’, ‘I’. This ‘I’ refers to the individual ego, born out of attachment to the body. When this deha bhava is removed (crossed), one becomes the dehi (Indweller). You become God, verily. Divinity transcends name and form. Since time immemorial, people contemplated, worshipped, served, and longed for such a transcendental Divinity.

People have many desires in this material world. Emperor Dharmaraja had only one desire: playing the game of dice. He was very fond of this game. The Kauravas noticed this weakness of Dharmaraja. They contrived to trap him by making use of this weakness. Their maternal uncle Sakuni instigated and advised them, “You go and invite Dharmaraja for a game of dice.”

Sakuni was an adept in this game, and he could easily defeat his opponents by foul means. Duryodhana and his brothers were on one side and Dharmaraja was on the other. The dice used in this game were manipulated to enable them to score a victory each time the game was played. As a result, Dharmaraja lost the game every time. He lost his empire, his brothers, himself, and even Droupadi. The Kauravas annexed his empire and took control over Dharmaraja’s brothers and wife Droupadi. They dragged her to the royal court.

Droupadi then posed a question to the honourable members and elders in the assembly whether Dharmaraja pawned himself first and then lost her or vice-versa. If Dharmaraja pawned himself first and lost the game, he had no right to pawn Droupadi. Moreover, Droupadi was the wife of not only Dharmaraja but all the five brothers. Did they give their consent to pawn Panchali (the wife of five brothers) by Dharmaraja in this game of dice? No one in that august assembly dared to answer the subtle points raised by Droupadi. They did not open their mouths.




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Dronacharya, in his youth one day, went to King Drupada to ask for the gift of a cow. Because the king refused to make the gift, Dronacharya in his anger left Panchala with his belongings and wife and child. As he was walking toward Hastinapura, he encountered the Pandava and Kaurava children playing in a field near a well. Coming near the children, who had surrounded the well, Dronacharya enquired, “My dear children, what is the matter? Why are you all standing around the well in this manner? What has happened?” The children replied in one voice, “Swami, our ball fell into this well.”

Dronacharya then pacified them saying, “Do not worry, I will take the ball out.” So saying, He pulled an arrow and shot at the ball. The arrow stuck to the ball. Then he shot another arrow which stuck to the first arrow. In this manner, he released a number of arrows one after the other and finally with the help of the arrows made into a pole, he pulled out the ball and handed it over to the children. Seeing this wonderful feat of Dronacharya, they fell at his feet. They realised that they had at last found someone who was an expert in archery. They conveyed this news to Bhishma, who appointed Dronacharya as the teacher of both Kauravas and Pandavas.


Among the children, Arjuna particularly learnt the skills of archery fast and became an expert in a short time, winning the affection and admiration of Guru Dronacharya. In fact, he made his Guru proud and famous by his skills. This had made Aswatthama, the son of Dronacharya, jealous. From then onward, he bore a grudge against Pandavas, particularly Arjuna. During the Mahabharata war, he joined the Kauravas and fought against the Pandavas. One night, during the war, he stealthily entered the camp of the Pandavas and massacred the Upapandavas (young children of Pandavas) mercilessly under the cover of darkness. As he was about to escape, he was tracked down by Arjuna, who dragged him into the presence of Droupadi. Instead of becoming angry and cursing the evil doer and pronouncing punishment on him, she fell at the feet of Aswatthama, the son of her husband’s most revered Guru and said:
It is at the feet of your father Dronacharya
that my husbands learnt all that they know.
Being the son of Dronacharya, is it proper to kill my innocent children?
How could you have the heart to kill them,
who were unarmed, young, quietly asleep,
were not having any enmity against you
and were not contemplating any harm to you? (Telugu poem)

When Droupadi was thus pleading with Aswatthama, Bhima could not bear to see this. Exploding with anger, he roared:
This Droupadi is a stupid woman,
for she pleads for the freedom of
this wretch. She feels no anger against
this murderer of her sons. This assassin
is not a Brahmin; do not release him, kill him.
If you do not do that, I will myself kill him
with my powerful fist. (Telugu poem)

Aswatthama was trembling with fear and felt helpless. Consumed with rage, Arjuna was about to attack Aswatthama. Droupadi then raised both her hands and pleaded with Arjuna thus:
Oh, Phalguna! It is not righteous to kill
a person who is afraid or has lost
courage, who is asleep or intoxicated,
who seeks refuge or is a female.
You should not kill Aswatthama, for, he is the son of your preceptor.
(Telugu poem)

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Droupadi then fell at his feet and reasoned with him: “Arjuna, will my sons be revived by killing Aswatthama? His mother would experience the same kind of sorrow that I am now undergoing. Having studied the Vedas and Sastras, how is it that you are not able to maintain your tranquillity?” Thus, Droupadi pleaded with Arjuna to forgive Aswatthama for his heinous act.

Arjuna retorted, “You are preventing me from keeping up my vow.”

Droupadi replied, “Tonsuring his head and removing the crown jewel from his head is equivalent to killing him.” Arjuna then agreed to her pleadings, and as a token of punishment shaved Aswatthama’s head, took his crown jewel, and set him free. “There is no use brooding over the past. Past is past; forget the past,” is the advice given by Droupadi to Arjuna. On the advice of Droupadi, Arjuna suppressed his emotion.

Just now, an economist who participated in the conference mentioned the theme “Ethics and Finance”. Arjuna followed the ethics and saved the life of Aswatthama, forgetting the loss of the Upapandavas.

To save the life of a fellow human being is far superior to accumulating wealth. Several such incidents of nobility are to be found in the Mahabharata and the Bhagavata. There are many such noble women like Droupadi. She was broad-minded and of noble character. It is only because of such women that the country of Bharat has achieved great progress from age to age and attained the pre-eminent position of today.

Unfortunately, the Bharatiyas (Indians) have forgotten their glorious past. They are now like a mighty elephant who is unaware of its innate strength. In the supremely holy land of Bharat, tolerance is the towering quality of our character. What is the real beauty in a human being? It is not the beauty of the physical body. It is the quality of tolerance that confers real beauty on an individual. Our culture of Bharat has given utmost importance to the quality of tolerance. This has been our tradition since ages.
One has to therefore uphold one’s rich tradition of purity and tolerance. A true Bharatiya is one who protects these two qualities. He is not a human who lacks morality. Money comes and goes, but morality comes and grows. Hence, one has to protect one’s morality. That is the real quality of a Bharatiya. Only the one who is endowed with a noble character is eligible to be called a Bharatiya.

Just as an elephant is not aware of its innate strength and meekly submits itself to the commands of the mahout, the Bharatiyas of today forget their innate strength and purity and are imitating the western culture. Though they are endowed with great strength and have mastered the Vedas, the Upanishads, and the scriptures, they are aping the western culture forgetting their own greatness. It does not behoove of the people of such a great nation. You have to realise the greatness of your culture and follow your conscience.

Unfortunately, people today do not follow their conscience. It is not out of ignorance but innocence!
If you continue to imitate the western culture, your own strength will gradually diminish. Therefore, do not imitate others. Observe restraint. For example, the lion attacks an animal only when it is hungry. It does not go about killing every animal that it comes across. Thus, even a wild beast like the lion has the capacity to restrain itself. Hence, it is necessary for every human being to observe restraint and certain limits. Limitless ego, anger , and desire will only lead you astray.

You have to divert your mind from such a situation and follow the noble path so that you do not cause harm to others nor do you suffer in the process. Do not utilise your strength and power indiscriminately. You see the modern children enjoying unrestrained freedom. Freedom no doubt is good and permissible but should be within a limit. Then only does it acquire value. Trying to amass wealth and being over-smart will only lead you to danger.



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Do not waste your thoughts, for it makes your mind unsteady and wavering. (Showing His handkerchief) What is this? This is a cloth. No, this is not a cloth but a bundle of threads. Not even threads, it is just cotton. Without cotton, there can be no threads, and without threads there can be no cloth. Likewise, the mind is nothing but a bundle of thoughts. Therefore, put a check on your thoughts. Even the wealth you acquire and the food you eat must be within a certain limit. Food is God, do not waste it.

Help others, never hurt them. “Help Ever, Hurt Never.” These are some of the guidelines for a purposeful living that you must follow. He is a blessed one who conducts himself in such a way that he does not hurt others nor does get hurt in the process. You have to learn these skills, which are not available in the textbooks. Watch your thoughts and see that they do not go astray. Each time a thought arises in your mind, analyse it. “Is it good or bad?” If you feel it is bad, do not allow it to persist. Just let it pass. If it is a good thought, put it into practice so that you and others also will be benefited.

In the conference held yesterday and today, certain guidelines for the efficient functioning of the banks in the country have been deliberated upon. Whatever actions you perform must be in a spirit of self-improvement. Do not be under the impression that you are serving the organisation; rather you are serving yourself by your sincere efforts. Do not at all give room for ego and pride.

By depositing your savings in the bank, it is not the bank but you who will benefit, for it will come back to you only. In the same way, you will benefit by the good you do to others. You are doing it for your own good life.

If you want to earn a good name in society, cultivate three principles: Daiva preeti, papa bheeti, and sangha neeti(love for God, fear of sin, and morality in society). If you foster morality in society, people will gather around you treating you as a good person. First and foremost, develop love for God. The next is fear of sin. It is only when you cultivate this quality that you will become a person of character. When you have a noble character, the entire society will love you. None will hate you. Maintain good character and love all. Love is everywhere and God is everywhere. Hence, love all. The more you love others, the more your reputation will go up in the society.

If you commit a mistake or indulge in an evil deed, others will try to imitate you. Hence, be good, do good, and see good. This is the way to God. Only when you conduct yourself in such a manner will you earn a good name in society.

You cannot learn these things from a textbook. It is not textual information. It relates to the purity of heart. You should develop such sacredness. Unfortunately, there are only secrets but no sacredness anywhere. This is not good. If you smoke a cigarette, your friend too will come to you and say, “Hello, you are a good boy. Give me also one cigarette.”

As is your company, so will be your behaviour. “Tell me your company, I shall tell you what you are.” If your company is bad, you become a bad person. If you are good, others will follow your example and become good.

Today, you find that several companies have closed their operations. What could be the reason for this? If one company is following foul methods, other companies will also follow suit. It is a common thing that bad habits spread quickly and easily. You have therefore to be cautious and strive for good things to happen. Do not be hasty to imitate bad things. “Haste makes waste, waste makes worry, therefore, do not be in a hurry.”

Dear children, you are all very young. Start doing good work right from this age. Set an example to others. Do service to society. It is society that protects you.

Even before you start doing social service, there are four persons whom you should revere and respect: mother, father, preceptor, and God in that order. First and foremost, the mother is very important. Make her happy. If your mother is happy, your entire life will be happy. If you make her unhappy, you will suffer. Hence, keep her happy and contented at all times. The happiness of the mother is your happiness.

She will protect you always. It is the mother who gave birth to you and brought you up. She may reprimand you and even beat you when she is angry with you. But her anger is only momentary. You should not feel for it. The temporary anger will not last long. Realise the fact that anger, ego, jealousy, etc., are all temporary phases. Even lust is momentary. These are all temporary and hence they come and go. They are not permanent. But one principle, Atma Tattwa, is everlasting.

Develop love for one and all. Love, Love, Love! “Love All and Serve All.” Love is your only property that lasts for ever. There is nothing greater than love, and you don’t need anything greater too.

Plunge into service with a feeling, “Service is God; Service is my Life.” Service should not be undertaken with an expectation of remuneration. “Money comes and goes, but morality comes and grows.” Do not be elated when you get money or depressed when you lose money. The difference between money and morality is: money comes and goes whereas morality comes and grows.

Dear children, today is a very happy day. Pray that occasions like this should reoccur wherever you may be.

God is your sole refuge wherever you may be, In a forest, in the sky, in a city or a village, on the top of a mountain or in the middle of a deep sea.
(Telugu poem)

God is always with you, above you, behind you. He will always protect you. Develop this firm faith in your heart. God’s grace is not transitory. He will always be with you. You are all good children, I know. Conduct yourself as good children always.

(Bhagawan concluded His discourse with two bhajans, “Hari bhajan bina sukha santhi nahin …” and “Subrahmanyam, Subrahmanyam …”)




Friday, Aug 28 , 2009 Details published by -
Inaugural Function -

Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance. Chief Executives from more than twenty top banks in India are attending. The inaugural session of the conference was in the college auditorium of the Prasanthi Nilayam campus of the Sri Sathya Sai University. Bhagavan arrived there at around 10 o'clock as the morning bhajans

Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance


went on in the Mandir and the proceedings got underway soon after. Prof. Vishwanath Pundit, the Vice-Chancellor of the Sri Sathya Sai University gave the welcome address and introduced the speakers - the Reserve Bank of India Governor Dr. D. Subba Rao to give the keynote address and the former RBI Governor Dr. Y. V. Reddy to give the first invited talk. Sri S. V. Giri, former Vice-Chancellor of the University and former Chief Vigilance Commissioner of India gave the next talk, following which Bhagavan left for the Mandir and the first session came to a close. Swami granted an audience to the RBI governor at the Mandir before accepting Arati at 12.10 pm and returning to His residence in the chair.

In the evening, the stage was set with more than twenty chairs on either side of Bhagavan onstage at Sai Kulwant Hall. Swami came at five o'clock and after His darshan round, came onstage. After a few minutes, He asked for the programme to begin. The Chief Executives were announced one by one and they came up to present a rose to Swami before being seated onstage.


Prasanthi Nilayam is hosting a two-day National Conference on Ethics and the World of Finance


Several bankers were invited to speak, beginning with Sri K. V. Kamath of ICICI Bank, Sri Guneet Chaddha of Deutsche Bank, and then Sri Ramamurthy of the ING Vysya Bank, Sri V. S. Das, Executive Director of RBI and Sri Jagdish Kapoor of HDFC Bank. Prof. G. Venkataraman, former VC of the Sai University was asked to speak next, and after his talk, Swami asked for a bhajan to be sung before accepting Arati at 6.40 pm as prasadam was distributed before returning to His residence after a short visit to the interview room.

Saturday, Aug 29, 2009 - Divine Discourse at Conference Valedictory

The National Conference on Ethics in the World of Finance ended today. The delegates came to the Sai Kulwant Hall and were seated there when Swami came for darshan just before five o'clock. The bhajans began at five and Swami was seated onstage for half an hour after His darshan round. He then asked for the microphones to be brought - He was going to address the gathering. In His hour-long Divine Discourse, Bhagavan quoted the Mahabharata stories of Dharmaraja losing his kingdom by gambling and Draupadi's insistence on saving Ashwatthama's life after he killed the sons of the Pandavas. Exhorting the students to always serve society wherever they may be, Swami ended His Discourse with two> bhajans Bhajan bina and Subrahmanyam. While returning to His residence after Arati at a quarter to seven, He blessed prasadam for the delegates. Read more details with photos


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Previous Sainews - click on the photo (below)

Thursday, Aug 27 , 2009 - Drama by the Orissa youth