![dishoom dishoom](https://jiocinemaweb.cdn.jio.com/jioimages.cdn.jio.com/content/entry/dynamiccontent/thumbs/512/512/0/35/89/62e9c7a0847f11e6927f0940a27f891c_1583324557653_p_medium.jpg)
Over 70 countries have adopted XBRL as standard data format for data governance, while in India we have bits and pieces of this adoption, and are yet to leverage its full potential. Globally, regulators have increasingly been looking to big datasets (including structured financial data, payment transactions, unstructured granular data including from the internet) and analytics to provide new insights, enhance quality of their risk assessments and forecasts. If everyone uses same data-format, it is traceable and data veracity can be demonstrated. It is critical that technology is used to link all of these and that can happen only if data governance is of impeccable standards. In today’s interconnected markets, a small issue in debt markets can erode investments held by pension funds, mutual funds, insurance or pension funds, corporate treasuries and retail investors. And they want to see it first and to still have the time to act on such a discovery. Regulators want to find something that others don’t see easily. Almost until the final moment, every logistics seems unprepared and still work-in-progress. Some might derive comfort not from the above example of Hindi films, but from the humdrum that the run-up to a great Indian wedding event generates.
![dishoom dishoom](https://musicart.xboxlive.com/7/91ee4500-0000-0000-0000-000000000002/504/image.jpg)
Such optics-management is far worrisome, as it hinders the concept of justice and presumes that everyone else is at fault, just to prove a point. The point is simple-in almost every crisis we miss the boat, and we enter the scene only when damage has been done and it’s a full blown crisis by then! Then we do everything to salvage the optics. Consumers and customers alike struggle with cost and time to fight back for their rights. Consumers struggle with not-so-clear sales processes whether it’s a small financial product issue (under the guise of financial illiteracy) or food quality not being enforced or regulatory oversight issues across any other industrial sector. Commit small as well as larger systemic issues. Companies err in following rules and regulations. Markets roar and crash and investors react. Capital and debt markets have their own fancy mood-swings. Then the cops would take away the villain and his gang.Ĭut to the 21st century. You could predict the next important scene in most films-that of the police jeep siren and the convoy arriving near the hero. Yet, suddenly, he would find the energy, stamina and strategy to beat up the villain and henchmen. Or even add the ‘Ma’ sentiment by showing the widowed mother of the hero, crying of sheer helplessness. The hero would look like he was hanging onto the very thread of his life of course, add few shots of the heroine screaming for help in between. Cut to the critical ‘dishoom dishoom’ climax scene in any potboiler Indian film there would be a fight where the hero would be bashed up by the villain and his gang of hoodlums.