“Vegda” Principle

What is this “vegda” principle means?

You may be wondering what it implies. Actually, “Vegda” is a word from the Marathi Language, which denotes something that is “different” or “unique”. The same is used to point out the fact that one has a view, action, habit, or principle that is uncommon, different, and unique from others.

In life also, we have a difference of opinion with others but that “difference in opinion” does not result in having a vegda principle. In fact, having a “difference in approach” is relatively close and akin to having a “vegda” principle. Life throws challenges on us and how we react to them decides the outcome. Their approach to handling the problem and challenges differs from person to person and that is what makes him “Vegda”.

I recall an incident when in our society I went along with my fellow neighbors to collect the funds for the upcoming festival (we celebrate by contributing to the festival to show the spirit of togetherness). While moving from house to house for contribution, we ended up meeting one of the neighbors who refused to contribute stating the fact that; “He has vegda principle, on the matter”. Since then I am exploring the meaning of his statement, which makes his role different, his opinion on the matter different, and his alignment with society on celebrations different.

Also, while working in Bank, on any subject, especially while advising on regulatory compliance, I come across people who hold differences in opinion but this difference does not resemble the “vegda” principle. The latter in itself is unique, novel, and zenith in the approach.

Does not give heed to others tantamount to the “Vegda” principle. No. not in my opinion. That is more of carelessness with the hint of knowledge.

In fact, to best define the vegda principle, we have to go back to Banking regulators across the globe who hold a viewpoint, which is different in approach to protect the interest of the depositors, stakeholders, and public at large.

Recently, RBI has mandated Banks/Payment System Providers to ensure that data of customers in the payment eco-system whether dealt with self or with vendors needs to be stored in India ONLY. This stipulation created a rough patch with many payment system providers as the requirements would require changes in process, policies, SLAs, and cost. Many resisted, deliberated, and represented through industry associations’ etc. even political pressure was created. However, I would say that our Apex Bank maintained its stand and hold the approach of the “Vegda Principle” high on ……

That’s the vegda principle I call upon. Not succumbing to any pressure, with the hand on the heart you march on with the objectives clear in your mind, one demonstrates the vegda principle.

Do you have elements of being “Vegda”…

Abhishek R Sharma

(Views are personal).