Ship_accident,Mars&Networth

Dear all,
Welcome.
Ship accident: A boat submerged in Yangtse river thereby causing death of 22 people at Eastern province, Xiangsu. It is to note that eight foreigners had been along with 25 passengers. Three people had been rescued. One Indian PIO from Singapore, four Indonesians and one each from Malaysia and Japan had boarded it. The boat was 30 metres long and 368 tonnes by weight. It was constructed by Anhai Bengbu Shenzau machinery company limited. It's route was not provided to officials.    
Mars: A research on Mars atmosphere had revealed that red planet has got situation wherein human species would start dying within 68 days. The level of oxygen would start getting reduced. New techniques would be needed. MIT scientists had analysed data of Mars1 by which the company wants to make planet inhabited by 2024. Initially, two lakh applications had been received but around 1,000 people were shortlisted. Around 24 people would be finally selected for the mission. The  realty show is expected to fetch some returns. It is to note that Dec.28 was celebrated as "Red Planet" day.
The mars atmosphere and human technology could render mission unsuccessful. After analysing oxygen, food and techniques, the 35 pages report mentions that the space crew members could die within a period of 68 days. The plants would produce insufficient quantity of oxygen. It is to note that the red planet is situated at a distance of 5.5 lakh crore kms and takes roughly 7-8 months to reach there.
Also, it is learnt that Opportunity rover is getting resetted upon it's own. It has traversed approx. 40 kms on Mars.
With regards,

 

M.K.Pachraiya
Original_app_mssg(1) Networth
The Reserve Bank today changed the definition of "networth" for entities authorised under the Payment and Settlement Systems Act.

"To have uniformity and clarity in respect of the computation of networth for an entity authorised under the Payment and Settlement Systems Act, it is advised that networth will consist of paid-up equity capital, free reserves, balance in share premium account and capital reserves representing surplus arising out of sale proceeds of assets," RBI said in a notification.

However, the networth would not have reserves created by revaluation of assets adjusted for accumulated loss balance, book value of intangible assets and deferred revenue expenditure, if any, it said.

The new definition would apply for the purpose of all approvals under the Payment and Settlement Systems Act.

Under the Act, an entity operating a payment system within the country has to obtain authorisation from RBI. The RBI has from time to time issued guidelines in respect of the eligibility criteria for authorisation of payment system operators, including PPI issuers, overseas principals for money transfer service scheme and card network operators, among others.

These entities have to comply with the requirements of minimum paid-up capital and net-worth, as applicable.

Sw.Vivekananada_anniv.

Dear all,

Welcome & pl. read on app. mssg.
Every year since 1985, the Government of India observes 12th January, the Birth Anniversary of Swami Vivekananda as National Youth Day. To quote from the Government of India’s Communication, "it was felt that the philosophy of Swamiji and the ideals for which he lived and worked could be a great source of inspiration for the Indian Youth."

India is one of the youngest nations in the world, with about 65 percent population under 35 years of age.    It is expected that by the year 2020, the population of India would have a median age of 28 years only as against 38 years for US, 42 years for China and 48 years for Japan. The youth are indeed the most dynamic and vibrant segment of the population in any country.

Swami Vivekananda once said, "Whatever you think, that you will be. If you think yourselves weak, weak you will be; if you think yourselves strong, strong you will be."

He also said, "See for the highest, aim at that highest, and you shall reach the highest."

His message was simple yet powerful. Vivekananda conveyed his ideas directly to the people, especially to the youth. His message broke through the shackles of caste and creed and spoke of a language of universal brotherhood. What he said captures the great importance of his ideas and ideals among the youth in our country today. He personified the eternal energy of the youth and their restless quest for truth. It is entirely fitting that 12th January, the birth anniversary of Swami Vivekananda, is observed as National Youth Day to rekindle the eternal message of this great patriot and son of India.

But how to make youth realise  the relevance of Swami Vivekananda in these exciting and challenging times, when on the one hand people and nations are engaged in the noble task of developing the personality and leadership qualities of the youth by involving them in various nation–building activities, while on the other hand there are challenges of hunger, poverty, unemployment, corruption and terrorism.

Among the various ways which Swami Vivekananda suggested to rebuild the Indian society, Education was the primary means for empowering the people. He once said, "The education which does not help the common mass of people to equip themselves for the struggle for life, which does not bring out strength of character, a spirit of philanthropy, and the courage of a lion – is it worth the name? Real education is that which enables one to stand on one’s own legs." For him, education meant secular learning that built character and instilled human values in students.

The Government of India while commemorating the 150th Birth Anniversary of Swami Vivekananda sanctioned a "Value Education Project" of the Ramakrishna Mission (an organisation established by Swami Vivekananda which is widely recognized for its commendable work in the areas of value based education, culture, health, women’s empowerment, youth and tribal welfare and relief and rehabilitation), to help to inculcate in children a moral compass and a value system against the tide of commercialism and consumerism that is sweeping our societies.

It also gave an endowment of US$ 1.5 million to the University of Chicago, for establishing the Swami Vivekananda Chair to focus on Vivekananda, through lectures, seminars and suitable related academic activities on Indian Culture and Indian Studies. The Chair will be held by each scholar for a period of two years.  The University of Chicago will also facilitate exchange of research scholars between the University of Chicago and the Government of India. This permanent endowment will help spread the message of harmony of religions, understanding between nations and the spiritual oneness of humanity, which Swami Vivekananda worked for.

According to Swami Vivekananda, "Teach yourselves, teach everyone his real nature, call upon the sleeping soul and see how it awakes. Power will come, glory will come, goodness will come, purity will come, and everything that is excellent will come when this sleeping soul is roused to self–conscious activity."

The Government is also making efforts to convert teachings of Swami Vivekananda into practice in the current context.  To meet the need and aspirations of more than a billion people is not an easy task unless some integrated action is taken in areas where the country has a core competence. Agriculture, Education, Healthcare, Reliable and Quality Electric power, Surface transport and Infrastructure for all parts of the country, Information and Communication Technology and Strategic sector are the areas closely inter–related and if the work on these areas for an integrated action start in the right earnest it will lead to food, economic and national security of India.

The Government has embarked on the mission of building a united, strong and modern India to fulfil the vision of the great thinkers like Vivekananda. "Ek Bharat, Shreshtha Bharat", following the principle of "Sabka Saath, Sabka Vikas". These  are not merely slogans but a commitment to the people particularly to youth to take the nation to new heights. A number of path–breaking initiatives have been introduced recently. ’Make in India’ campaign has been launched to develop India as a global manufacturing hub. ’Digital India’ initiative seeks to transform India into a digitally empowered society and knowledge economy. ’Skill India’ is being launched to impart necessary skills to prepare Indians for the opportunities in Indian Economy as also the opportunities abroad. A number of initiatives, including Smart Cities Project, have been launched for developing infrastructure. In all these ’Swachh Bharat Mission’ and ’Clean Ganga’ Mission have been launched for building a clean and green India.

All these initiatives of the Government require active involvement and support of youth as they are the major stakeholders of future of this country. Skill development and Entrepreneurship is the flagship programme to put India on the road to become developed nation. Government is making all efforts to invest hugely in youth of the country because it is necessary in the ambitious task of building a modern and prosperous India. And as Swami Vivekananda once exhorted, "Arise! Awake! And stop not till the goal is reached", let us all unite and work for the country with Purity, patience, and perseverance as the Swami felt long ago that these three are essentials to success.

With regards,

 

M.K.Pachraiya

Sc.Congress,SriLanka,NCW,Plan.comm,AAP&Banking_reforms

Dear all,

Welcome.

Indian Science Congress: PM had inaugrated Indian Science Congress today which shall continue uptil Jan.7. He had praised Indian scientists who would help in building modern India. Poverty could be removed along with Science. The theme was "Science & Technology for human development".

SriLanka: Amidst allegations of genocide, Sri Lankan President had asked for Tamilian votes during the upcoming elections. The opposition had claimed that he had sent Armed troops to prevent  Tamilians from taking part during election process in Northern region. In a rally at Jaffna, he had stated that known enemy is far better than unknown angel. He had termed SriSena to be an outsider. His tour had been after TNAs decision to support SriSena.

NCW: Ministry of Women & Child dept. had amended NCW bill after which terms of appointing retired Justice had been removed. Also, power to arrest had also been taken away. Besides these two, there are other powers to equip NCW.

Planning commission: Noted economist, Panagariah, could become Dy. Chairman of Policy commission. Afer changing of Planning commission to Policy commission, new commission would start its work within a week's time. He had been Chief economist at Asian Development Bank. Last Dy. Chairman and other members had already left Planning commission. The newly PM headed commission would have all States Chief ministers would be members of governing council. Secretary level officials would be made CEO. Four ministers would be included as members. The Policy commission would function with cooperative federation as concept & States having their roles

AAP: AAP's national coordinator would once again collect funds under campaign "I fund honest party". He had nominated ten persons viz. his brother, sister, colleague, friend, family doctor, Gul Panag, Md. Kasim, Amit Agrawal and IITian colleague & Rayzada. He had presented a challenge and various other people would also take such challenges.

Also, Ilmi's seat is replaced by Pramila tokas from R.K.Puram seat. She is presently an independent from Munirika.

With regards,

 

M.K.Pachraiya

Original_app_mssg(1)Banking reforms

PUNE: The Narendra Modi government is embarking on an overhaul of the  banking sector to ensure it lends support to country's move towards high growth trajectory. With public sector banks performance lagging behind their private peers on key indicators, the government wants to urgently draw up a reform roadmap that could include revamp of priority sector lending, consolidation and effective use of technology for lending and greater financial penetration.

"...There is a wide disparity in various performance indicators of private and publicsector banks and in this context there is a need to rethink on the strategy of PSBs...When the country is trying to achieve accelerating growth of economic development, it is absolutely essential that banking reforms are thought about, deliberated about," Hasmukh Adhia, secretary, department of financial services, said here on the first day of 'Gyan Sangam', banking retreat organized by the finance  ..

For example, return on total asset by private sector banks is 1.6% compared to just 0.5% for public sector banks. Gross non-performing asset ratio of public sector banks is over 5%, while private sector banks' is pegged at little over 2%.

On all other indicators also private sector banks have shown a better performance that their public sector counterparts.

Prime minister Narendra Modi, finance minister Arun Jaitley, minister of state for finance

 Jayant Sinha and RBI governorRaghuram Rajan will attend the two-day bankers retreat in the lush green campus of National Institute of Bank Management on the outskirts of the city.

The retreat will attempt to draw up a "concrete" action plan to re-inviogarate the sector, grappling with mounting bad loans.

".... banks and financial institutions are the backbone of the economy. Stronger the bank and financial institutions, stronger would be the growth of the economy," Adhia said adding that the deliberations over the next two days would also focus on the recommendations given by various committees in the past, non-performing assets and credit off take.

Adhia said bankers participating in the retreat had been divided into six working groups to assess issues and draw up plans to  .be presented to Prime Minister after discussion with finance minister and RBI governor.

External experts including, KV Kamath, ICICI BankBSE 2.81 % chairman, P J Nayak, ex-CMD, Axis Bank, Paresh  Sukhantkar, DMD, HDFC Bank and Bandhan founder Chandrashekar Ghosh have been roped in from the private sector help bankers draw on their skills.

External experts including, KV Kamath, ICICI BankBSE 2.81 % chairman, P J Nayak, ex-CMD, Axis Bank, Paresh Sukhantkar, DMD, HDFC Bank and Bandhan founder Chandrashekar Ghosh have been roped in from the private sector help bankers draw on their skills.

Framework would be drawn up for achieving universal financial inclusion, leveraging technology to improve efficiency, re-thinking priority sector lending, improving risk management, asset quality and recovery, consolidation and restructuring of PSBs and building robust people strategy.

Adhia said risk management and asset quality was a problem area for banks and the government wanted to help them manage it in a better way while pitching for a change in priority sector lending norms that has remained at 40% since 1969 when the guideline was introduced.

"We would like to generate ideas on what could be the priority sector prescription for the banks in view of the present state of the economy

...At the moment banks have to lend 40%of their total credit to priority sector which include agriculture loan, loans to minority.., Adhia said adding that the overall economy has seen a major shift from 1969. For example food processing would be very important for agriculture growth, but does not feature on the priority sector lending items, he pointed.

Adhia said consolidation in banks did not necessarily mean only mergers and acquisitions. "If we have to give better support to banks, if the banks have to play a complimentary role, can we think of some other structures by which it is easy for the banks to manage their affairs, it is easy for them to get capital from the market and it is easy for them to improve the balance sheets," he said. On the issue of financial inclusion, the financial services secretary said that the focus of group discussions will be on how to keep these accounts active and improve the savings rate of the country from 30% to 35% of the gross domestic production (GDP).

"We will be looking that how other financial products such as pension and insurance can be linked with these accounts," he said. Under the government's ambitious financial inclusion scheme, Pradhan Mantri Jan Dhan Yojna (PMJDY), banks have opened around 10.3 crore accounts and 98.4% of the households have been covered.

"We are also seeding these accounts with Aadhaar number and around 33% of the counts have been linked," said Adhia, adding that Rupay card have been provide to 80% account holders.

The retreat is being held to take forward the government's commitment to reforms in the financial sector, the finance ministry said in a statement. "The growth and change in financial sector ought to be in tune with the development in the real sector," the statement said.