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Business News Today: Latest Business News, Finance News

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Diagnose financial health at home with these vitals AIG Hospitals, ICMR team up for digital health innovation Juno Joule Bio Fuels begins construction of compressed bio-gas project in Telangana Legendary playback singer Asha Bhosle dies at 92 Signature Global cuts net debt by 77% to ₹200 crore in FY26 Ceasefire talks fail to restore vessel movement in Strait of Hormuz, fate of 599 ships remain inconclusive Iran aims to restore majority of refining capability within two months DMRC launches mid-life refurbishment of Blue Line trains to enhance safety and passenger experience Retail inflation likely rose 3.5-4% in March Mcap of 8 of top-10 most valued firms jumps ₹4.13 lakh cr; HDFC, ICICI Bank top gainers Coal India absorbs cost surge to shield consumers from price spike Shell steps up LNG supplies to India, wins major fertiliser tenders after Gulf disruptions TCS makes only 25k fresher offers this fiscal, more hires dependent on demand scenario: Official Supreme Court to hear on Monday pleas related to SIR of electoral rolls in West Bengal India-UK free trade pact may come into force from second week of May: Official US, India hold engagements to advance defence cooperation Trump shares article suggesting option with him to enforce naval blockade on Iran FPIs extend sell-off in April; pull out ₹48,213 crore in 10 days NCLAT reaffirms project-specific insolvency proceedings against realty firms Iran-US talks in Pakistan ended without deal as Tehran cites ‘excessive demands’ from US 'West Asia war a good opportunity for energy reforms, lower costs for industry' After hitting rock bottom, Indian stock market is on its way to a speedy recovery, says Vallum Capital Two supertankers U-turn in Hormuz as US-Iran talks break down Time has come to implement Women's Reservation Act: PM Modi's letter to LS, RS floor leaders Luxury carmakers hope West Asia ceasefire will lift consumer sentiment Iran war diverts US military, attention from Asia ahead of Trump's summit with China's leader Trump says China will have big problems if it ships arms to Iran India will soon become self-reliant in defence sector, find itself among leading nations of the world: Rajnath Singh India’s marine exports surge to ₹62,408 crore in 2024-25, Govt sets ₹1 lakh crore target Gold vs equities: Does the yellow metal hold edge despite softening shine? 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Inside Kerala’s bureaucratic mindscape
By S Adikesavan · 2026-05-03 · via Business News Today: Latest Business News, Finance News

Kerala consistently punches far above its weight in any discussion on social and economic development in India. Its achievements in human development indicators, as well as its distinctive administrative challenges, have long attracted national attention. Further, until about a decade ago, key positions in the Government of India—particularly in the Prime Minister’s Office—were occupied by officers of Malayali origin.

The phrase “Mallu Club” or “Keralite Mafia” came into currency to describe this influential cohort during the tenure of Manmohan Singh. Officers such as TKA Nair (Principal Secretary to the Prime Minister), MK Narayanan (National Security Advisor), and Shivshankar Menon (Foreign Secretary) formed part of a powerful administrative axis in New Delhi. A WikiLeaks cable even revealed that the term “Mafia” had been used by the US Ambassador to describe their collective influence.

The Kerala Club: Keepers of the Flame, edited by KM Chandrasekhar and TP Sreenivasan, (Bloomsbury, 2026) brings together essays by 29 civil servants who either belonged to the Kerala cadre or had significant professional engagements with the state. The volume is both a chronicle and an analytical exploration, illuminating Kerala’s developmental journey over roughly seven decades.

Narrative richness

Several essays stand out for their narrative richness, personal touch and insight. In “A Heady Mix of Maths, Science and the Baton,” Rajan Medhekar recounts his remarkable career trajectory—from a strong academic foundation in solid-state physics to leadership roles in the State police, the Border Security Force and as chief of the National Security Guard’s “Black Cat” commandos. His reflections include a vivid account of the Chalai riots of 1982, one of the rare instances of communal unrest in Thiruvananthapuram, and the swift deployment of the Army to restore normalcy.

A recurring theme in this volume is the complexity of labour relations in Kerala. In “Kerala’s Trade Unions,” E K Bharat Bhushan, former Chief Secretary offers a candid account of his tenure as Managing Director of Kerala Minerals and Metals Ltd. He describes how efforts to revive the company—through stricter discipline and improved marketing — were met with resistance from entrenched union leadership. The backlash included threats and even a legislative motion seeking his removal.

Transferred thereafter to Travancore Titanium Products, he encountered an even more fragmented union environment, with 48 (sic) unions operating simultaneously and discipline virtually absent. His essay is essential reading for anyone seeking to understand Kerala’s industrial climate. One is left to wonder whether these structural issues have significantly changed even today; those who have led institutions such as the State Road Transport Corporation or the Electricity Board lately should know.

Fiscal issues

Equally compelling is “When the Desert Bloomed” by T Balakrishnan, which critiques the state’s fiscal priorities. He argues that tax revenues have often been directed more toward welfare expenditure than toward critical physical infrastructure. Successive governments, he notes, have competed to enhance salaries and benefits for organised labour across both public and private sectors, contributing to wage inflation and rendering labour increasingly unaffordable.

On the subject of infrastructure, Alkesh Kumar Sharma provides a perceptive analysis of current gaps and suggests practical measures for future progress. Meanwhile, environmental concerns — including ecology, sustainability, and human–animal conflict—are addressed by Brandson Corrie and Surendra Kumar.

The collection also features contributions from prominent civil servants such as Vinod Rai (former CAG), Amitabh Kant (former NITI Aayog CEO and G20 Sherpa) and S.M. Vijayanand (known for his experience with decentralised planning and local governance).

Organised into thematic sections — public administration, development perspectives, local self-governance, and personal reflections — the essays collectively offer a rich and multifaceted portrait of Kerala’s governance landscape. The book will appeal not only to general readers interested in the state’s development trajectory but also to serving bureaucrats and civil service aspirants.

That said, the volume might have benefited from a concluding synthesis drawing together key insights and offering a critical overview in summary. The diversity of styles and topics occasionally makes the reading uneven. Yet, this is a minor drawback in an otherwise valuable compendium. The Kerala Club: Keepers of the Flame is a significant contribution to the literature on governance, development policy, and inclusive growth in India.

The reviewer is a commentator on banking and finance

Title: The Kerala Club: Keepers of the Flame

Editors: KM Chandrasekhar and TP Sreenivasan

Publisher: Bloomsbury, 2026

Published on May 3, 2026