Friday, March 27, 2015

Mudra Bank And Beggar's Bank

PM Modi set to launch Mudra Bank on April 8 for small cos-Hindustan Times

Prime Minister Narendra Modi is set to launch the Rs 20,000-crore Micro Units Development and Refinance Agency (Mudra) Bank in a mega function on April 8, much like the launch of Pradhan Mantri Jan Dhan Yojana (PMJDY). The bank would provide institutional finance to micro entrepreneurs, while acting as a regulator for the microfinance institutions.

The setting up of the bank was proposed by finance minister Arun Jaitley in the Union Budget this year.

Sources said that the idea to launch the bank in a mega way is to create awareness among the end consumers. While the contours of the bank would be decided in the next two weeks, targets are likely to be set much like the PMJDY.

“Mudra will help in providing loans even to those who do not qualify as micro, small and medium enterprises…a loan of Rs 5 lakh or Rs 10 lakh required to set up a small business would be made available,” a senior government official who did not wish to be identified told HT.

According to official data, there are about 57.7 million small business units, mostly individual proprietorship, which run small manufacturing, trading or services businesses. Of this, 62% are owned by scheduled castes and tribes and other backward castes.
“This bottom-of-the-pyramid, hard-working entrepreneurs find it difficult, if not impossible, to access formal systems of credit. Towards this direction, a major initiative has been announced in the recent budget in the name Mudra Bank,” a government statement said on Wednesday.

The initial corpus which has been earmarked for the bank is Rs 20,000 crore.
“I propose to create a micro units development refinance agency, Mudra Bank, with a corpus of  Rs 20,000 crore and credit guarantee corpus of Rs 3,000 crore,” Jaitley said while presenting the Union Budget 2015-16

Natural calamities: RBI issues loan restructuring norms for banks -Hindu Business Line
Mumbai, March 25:  
To enable banks to take uniform and concerted action expeditiously in areas affected by natural calamities, the Reserve Bank of India has come up with guidelines covering institutional framework, restructuring of existing loans, providing fresh loans and other ancillary relief measures.
Since the area and time of occurrence and intensity of natural calamities cannot be anticipated, it is imperative that banks have a blueprint of action for such eventualities so that the required relief and assistance is provided with utmost speed and without any loss of time, the RBI said.
All the branches of commercial banks and their regional and zonal offices will have a set of standing instructions spelling out the action that the branches will have to initiate in the calamity-affected areas immediately after the requisite declaration by the district/State authorities.
Divisional/zonal managers of commercial banks should be vested with certain discretionary powers so that they do not have to seek fresh approvals from their central offices to the line of action agreed to by the district/State level bankers’ committees (SLBCs).
The common thread to extend relief measures is that the crop loss assessed should be 50 per cent or more. 
The central bank said all short-term loans, except those which are overdue at the time of occurrence of natural calamity, should be eligible for restructuring.
In all cases of restructuring, banks should consider a moratorium period of at least one year. Further, the banks should not insist on additional collateral security for such restructured loans.
The principal amount of the short-term loan as well as interest due for repayment in the year of occurrence of natural calamity can be converted into term loan, the RBI said.
Banks can grant consumption loans up to ₹10,000 to existing borrowers without any collateral. The limit may, however, be enhanced beyond ₹10,000 at the discretion of the bank.
Repayment period
Generally, the restructured period for repayment may be three-five years. However, where the damage arising out of the calamity is severe, banks may, at their discretion, extend the period of repayment ranging up to seven years and in extreme cases of hardship, to a maximum of 10 years in consultation with the task force/State level bankers’ committee.
The central bank said a view needs to be taken by SLBC/DCC depending on the severity of the calamity as to whether a general reschedulement of all other loans (besides agriculture loans) such as loans granted for allied activities and loans given to rural artisans, traders, micro/small industrial units or in case of extremes situations, medium enterprises is required.
The restructured portion of the short-term as well as long-term loans can be treated as current dues and need not be classified as NPA (non-performing asset). Nevertheless, banks are required to make higher provisions for such restructured standard advances.
The accounts that are restructured for the second time or more on account of natural calamities would retain the same asset classification category on restructuring.

A bank run by beggars, for beggars in Bihar town-Times of India 29.03.2015

GAYA (Bihar): A group of beggars in this Bihar town has opened their own bank, which they run and manage to provide financial security in times of crisis.

Dozens of beggars, who have been depending for their survival on alms from hundreds of Hindu devotees at the gate of 'Maa Manglagauri Mandir' (temple) in Gaya town for years, have started the bank.

The beggars call it Mangala Bank.

"It is true that we have established a bank for ourselves," said Raj Kumar Manjhi, one of the 40 beggars who are members of this unique "bank".

"Bank's manager, treasurer and secretary along with one agent and other member, who are running and managing it, are all beggars," Manjhi told IANS in Gaya, about 100 km from here. Manjhi, incidentally, is the manager of the bank.

Manjhi, who is literate enough to manage the accounts and other works of the bank, said: "Each of us (beggars) deposits Rs.20 every Tuesday in the bank that comes to Rs.800 weekly deposit."

Malti Devi, who is secretary of the bank that was established six months ago, said: "It began last year with a big hope and to fulfill aspirations of beggars. We are still not treated well in the society because we are poorest of the poor."

Malti now reaches out to more and more beggars by opening their account.

"Most of the beggars who are members of the 'bank' have neither BPL (Below Poverty Line) card nor Aadhaar card," she said.

Manjhi's wife Nagina Devi is treasurer of the bank. She said: "My duty is to manage the deposit money."

Bank's agent Vanarik Paswan said his job is to collect money from each member weekly for deposit.

Manjhi said their bank helped him when he faced an emergency.

"Early this month, my daughter and sister sustained burn injuries while cooking. The bank has provided me a loan of Rs.8,000 for their medical treatment. It is an example of how the bank can help a beggar like me without any paper work or guarantor as practiced in nationalised and private banks," he said.

Manjhi would not have to pay interest on his loan for a month.

"The bank has made it mandatory to pay interest on a loan at the rate of 2 to 5 percent from next month to put pressure to pay back loan amount," Malti said.

Beggars like Nathun Budha, Basant Manjhi, Rita Masomat, Dhaula Devi said that they were happy that at least now they have their own bank.

"We saved some money at least now and deposit in the bank," said Basant.

Rita said they have been depositing money in the bank to meet her future needs.

Nathun added that what was unique about their bank is the fact that it is owned and managed by beggars who decide on the rules and regulations themselves.

The beggars were encouraged to start their own bank by officials of State Society for Ultra Poor and Social Welfare last year.

 Media Bashing of Bankers Must Stop :  Every Year Media Makes a Hue and Cry for Bank Holidays  - It is a Shame on Media that They Misrepresent Facts-By Rajesh Goyal (source:

The recent trends indicate that media is always trying to pick up one or the other issue and tries to paint the banks and bankers as the villain.   The feelings of the general public [who is already biased against bankers. on account of wrong perceptions like high salaries, frequent strikes calls, most of which are called off, poor services], are aroused by media by placing distorted facts about Indian banking.
I have recently come across a series of articles in reputed media circles, which have tried to paint as if the whole banking industry will be shut down for most of the days in next 10 days (i.e. from 28th March to 5th April).   I am giving below some of the links which have appeared recently in the media:-
Though I am no more in active service of the bank and I am not  much affected by the public perception, yet when I read such distorted articles, my blood boils.    Thus, today I could not resist myself to write an article about how media is creating negative sentiments about bankers.   I know bankers in the active service find it difficult to make a detailed analysis and are left by everybody to fend for themselves.
A cursory reading of these articles gives an impression that bankers will be enjoying long weekends and taking rest at homes or going on holidays for tourist purposes.   Whereas, every banker knows it well that this is the most critical part of the whole year, when they are going to be under extraordinary stress for meeting the targets, closing the bank account (some banks find it difficult to complete closing on account of problems with the software, connectivity problems etc.).   I am sure some of the poor bankers will be spending their nights at the branches so that the branch work is not affected on the next working day.
However, these media personnel, who have hardly the taste of banking and problems relating to closing, have tried their best to paint bankers as the villain and easy going breed.   It is a shame on our media that they publish such articles without actually verifying the facts with the concerned bankers.  These articles are cheap gimmick to gain extra reading by arousing the sentiments of general public who is least aware of the actual facts.
I have tried to compile the list of bank holidays in different States/UTs  during last week of March and first week of April 2015, which are given below:-
Date When it is a Holiday in some States / UTs
Out of 36 States+ UTs,  only following States /UTs will observe bank holidays
28th March, 2015
Bihar,  Daman & Diu, HP,  Jharkhand,  Maharashtra, MP, Orissa, Punjab, Sikkim, UP, Uttarakhand   
29th March, 2015
SUNDAY  -  It is holiday as per law and available across all sectors
30th March, 2015
Banks to Remain Open Across India
31st March , 2015
Banks to Remain Open Across India
1st April, 2015
Bank Closing (It is mandatory for banks to close their accounts).  Unlike other Govt offices, where they keep on issuing cheques in back dates and close their accounts at their will, banks are compulsorily required to close their books as on 31st March every year by next day i.e. 1st April. 
2nd April, 2015 & 3rd April 20145
Jharkhand, Karnataka, Maharashtra, Tamil Nadu and UP, Chandigarh,  Daman & Diu
(i)                 Thus, we find that majority of Indian States will not face any long holidays.  Out of 36 States / UT, only 11 will remain closed on 28th and 29th March (including Sunday).    Remaining 25 States / UT will close only and only for Sunday.  
(ii)               As far as 1st, 2nd and 3rd April is concerned only 7 states will have bank holidays for continuous three days (out of which one is on account of compulsory bank closing).  Remaining 29 States/UT will remain closed  for maximum for two days out of these three days.   On the other hand few States will remain closed only and only on 1st April, and they will be working for full days on 2nd and 3rd April (e.g. Punjab, Himachal Pradesh, J&K)
All the news links given above are from reputed and well established media houses.   It is not expected that they will give such a distorted picture about the banks and bankers through their media channels.     I have never seen that these media houses have taken up seriously the problems being faced by bankers, such as low salaries of young bankers and denial of proper  pension to retired bankers.
I also feel disgusted to note that bank unions who were known for their militancy have become so much coward that they fail to issue rejoinders and force these media house to publish the true facts as we have tried to collect and point out above.
This type of media bashing of bankers has resulted into bankers facing the wrath of the public for issues where bankers are absolutely correct.
I hope bankers will share this view with not only with their friends and relatives, but also with media houses, union leaders so that public is not befooled by such distorted facts placed by media.  
I Wish all my serving banker colleagues a smooth annual closing.


RBI for tighter bank exposure norms

Plans to cap bank exposure limit at 25% of tier-I capital-Business Standard
The Reserve Bank of India (RBI) has proposed to tighten the norms for large exposure by capping a bank's exposure to 25 per cent of its tier-I capital, both for single borrower and also for the group.

At present, banks can lend up to 15 per cent of their net worth to a single borrower and there's an additional five per cent leeway for firms involved in infrastructure development. The additional five per cent leeway is given to the banks' board. So, in effect, the total single company exposure of a bank could go up to 25 per cent of its net worth. Similarly, group exposure is capped at 55 per cent of the net worth of a bank.

"Under the proposed LE (large exposure) Framework, the sum of all the exposure values of a bank to a single counter-party or to a group of connected counter-parties must not be higher than 25 per cent of the bank's available eligible capital base at all times," RBI said in the 'Discussion Paper on Large Exposures Framework and Enhancing Credit Supply through Market Mechanism', released on its website on Friday.

Under the proposed LE framework, banks will get additional headroom for taking exposures towards single-name counter-parties. However, the exposure ceilings toward groups of borrowers will be significantly reduced in comparison with the present exposure ceilings.

The central bank said the new norms would come into effect from 1 April, 2019.

"A group of connected counter-parties will be identified on the basis of 'control' as well as 'economic interdependence' criteria against only 'control' criteria under the extant RBI exposure norms," it said.

Currently, banks are allowed group exposure of up to 55 per cent of their capital funds. However, the discussion paper noted that a study of 20 largest group exposures of 10 largest banks showed that the average group exposure of banks is only 10.60 percent of the capital funds.

The discussion paper highlighted the need for companies to rely more on market borrowings such as commercial paper and corporate bonds to meet their working capital needs rather than looking for bank funding.

"The discussion paper also invites comments on a proposal to make large corporates, enjoying working capital and term loan limits above a certain threshold, to meet a portion of both their short term and long term funding needs through the market mechanism such as Commercial Papers and Corporate Bonds," it said.

The paper noted that banks should avoid taking any additional exposure in cases where their exposure is above the exposure limit prescribed under this new framework.

The bank board has been advised to devise a smooth, non-disruptive transition plan for existing exposures which are currently in excess of the proposed LE limit.

"Such transition may be by way of either reducing the exposure or by increasing the eligible capital base or both," the paper said.

High Level Committee To Suggest B

Finance Minister has suggested  Ministry of Finance to form a High level committee constituted by top ranked bank officials, CBI officials, ED officials and talented officials of Ministry of Finance which will be look into causes of rising fraud and rising stress assets in banks and suggest ways and means to reduce such cases in future.

In the past too , ruling government had formed many committees to suggest steps for reforming Public Sector Banks in particular and PSUs in general. Unfortunately , these committees either do not submit good report or their report not taken seriously by the government which ordered formation of such committees. This is because neither politicians nor bankers really want action against corrupt officials or corrupt politicians or corrupt administrative and legal officials .They want just to put carpet on all maladies and preach sermons .They search false and fake excuses to get rid of punitive action and to avoid anger of media men. They blame interest rate or global recession or natural adversities to conceal their evil works and surprisingly all bad officials are awarded with higher posting and with quickest promotion. Culture of flattery and bribery is promoted by top officials and top politicians  and juniors have to follow the same willingly or unwillingly.

Once again ,formation of high level committee to tackle the issue of fraud and non performing assets in public sector banks will prove futile exercise .It is primarily the quality of human resource, quality of HR management, quality of politics and governance by rulers of this country, legal deficiencies , dirty culture of flattery and bribery prevalent in all offices which   are responsible for erosion in bank's assets and continuous rise in losses to banks due to rising cases of frauds.

And  it is open secret that High level committee likely to be formed by Government of India will be manned by same corrupt officials who made PS banks sick and due to whose dirty management PS banks are loaded with  huge volume of stressed assets and number of fraud cases and due to whose bad management , banks are facing now shortage of capital.

 It is important to point out here that banks were nationalised in the year 1969  to make banks effective and useful for common men. Similarly banking reforms policy is in force since the year 1991 when the policy of liberalisation and privatisation was adopted by the then government to make PS banks more effective , competitive and profitable. Since then management of each bank has been enjoying full freedom in recruitment , promotion and posting. Still the sickness has grown and grown only.

This is why I  always say that no power on earth can cure the sickness of government banks until there is change in culture , quality and attitude  of top officials and top politicians. If the same corrupt officials are advised to suggest ways to transform banks , it will be wondering in dreamland if anyone believe that they will suggest any curative pill for ailing bank. Yes , it is true that Government has to make experiment after experiment and always remain positive. But true bankers do not expect much from such high level committees.

In the recent past , Government changed process of selection of Executive Director and CMD of PS banks. Whatever may be the process of interview, it is ultimately the same corrupt officials who are mostly participating in the process and it is the same breed of officials who are taking interview of these officials. Similarly every banks has formed a merit oriented promotion policy for promotion of junior officers to higher level. But the face is that officers promoted are those who are bad in all respect. Officers who have good connections with top officials are picked by members of Interview panel. I have no doubt in saying that it is the Culture of Interviews which promotes bribery and flattery culture in all offices including banks. An officer can be rejected in two minute of interview even if the officer worked sincerely for years and decades and on the contrary an officer who caused creation of bad assets may be promoted by using some Godfather.

Officer in general are busy in keeping bosses happy and happiness of bosses differ from man to man. Some bosses want money for all decisions, some want wine and some other  want woman . There are some bosses who want all the three Ws. It is open secret that WWW is the key and prime necessary to enter into larger world of Internet. This happens not only in PS banks but in all PSUs. This happens in politics and in all governments. There are negligibly very few officers who want real work and real growth only. Unfortunately such devoted and honest performers  are the real victim of the dirty culture prevalent in the system.

Ministers in general  like a CMD who says Yes to all his right or wrong orders and who put his order into action without any delay and without raising eyebrows, who comply all instructions without any objection. Officers in general at all levels have to be blind follower of his or her immediate and effective bosses. This Yesman culture is the root of all ailments banks are suffering and in general all departments are suffering..
Million dollar Question is who will bell the cat?

When  all are birds (majority 0f birds ) of same feather, who will suggest right means to give right direction to ailing banks?

Lacs of cases against bank loan defaulters are pending in various courts and tribunals of the country for years and for decades. None of past government did anything to quicken the process of disposal of court cases. Many times it  has been found that team of Chartered Accountants committed blunder and worked in nexus with bank officials and corporate houses to defraud and to cheat banks. But no action has been taken against any auditor or any inspectors for promoting bad culture and for promoting and providing patronage to corrupt, neglecting and erring officials. And so on........

PMO seeks panel to tackle rising cases of bad loans, bank frauds-Hindustan Times -27.03.2015

Upping the ante against burgeoning non-performing assets (NPAs) of public sector banks and rising cases of frauds, the Prime Minister’s Office has asked for the setting up of a high-level committee to work on a long-term solution for designing a focussed anti-fraud strategy.

NPAs refer to loans that do not yield returns.
While the first meeting on the issue — chaired by Nripendra Mishra, principal secretary to the PMO — was held in the first week of March, the most recent meeting was held on Thursday and chaired by the banking secretary, sources familiar with the development told HT on the condition of anonymity.

The committee will include top officials of the department of financial services, corporate affairs ministry, Central Bureau of Investigation, Enforcement Directorate, Reserve Bank of India and the Serious Frauds Investigation Office.

“In the last 10 years or so, corporates have taken huge loans from PSU banks for some end-use including development of highways, setting up of power plants, textile units and also for realty projects,” sources said. “Many of these loans have become NPAs. Now every PSU bank has been asked to come up with a list of those accounts in which the value of the NPA is more than Rs 100 crore.”

The high-level panel will bring about structural and regulatory changes relating to reporting, investigating and action taken in cases of high-value bank frauds, besides formulating a set of standard operating procedures that will be adhered to by all agencies.
“Since high-value loan amounts of Rs 100 crore or more are sanctioned at the board level, banks have been found reluctant in sharing these bad loan cases with investigating agencies,” sources said. “And by the time they actually share these reports with RBI and law enforcement agencies, it is already too late.”

“In the near future, banks may also be asked to put up the names of such large-value defaulters on their websites,” the source added.

Minister of state for finance Jayant Sinha recently said that as of December, 2014, gross NPAs of PSU banks stood at Rs 2,60,531 crore, while the top 30 defaulters were sitting on bad loans of about Rs 95,122 crore, or 37% of the entire NPAs of public sector banks.

Bank reforms positive but implementation a risk, says Fitch-Zee news
Mumbai: The government's move to set up a Banks Board Bureau would improve corporate governance standards at 27 state-run banks, but lack of details would raise questions about their implementation, international ratings agency Fitch said Thursday.

"This move, alongside various other smaller policy changes over the past year, have been limited in scope, lacking in detail and other significant governance reforms requiring legislation remain to be passed. It remains uncertain as to what extent current reform drive will catalyse meaningful change in bank governance over the long term," Fitch said in a note.

Union Finance Minister Arun Jaitley had announced plans to set up the bureau during his budget, which follows other moves like separating the post of chairman from managing director as well as inviting applications from professionals working in the private sector to apply for top posts.

The Fitch note said that setting up the bureau is complementary to these changes and could speed up the appointment process which has remained very slow despite recent changes.

It said that there continues to be a high degree of uncertainty about whether more substantive reforms would be passed, adding that reducing state ownership, repealing legislation which enacts public banks as statutory bodies and creating a uniform bank licensing policy for all banks irrespective of ownership would be vital.

However, it hinted at the difficulty in getting these implemented, saying that there would be "political hurdles" in pushing through these reforms.

"The government is likely to continue to exert considerable influence on state-owned banks over the near term unless more substantive reforms are put in place," it said.

In order to improve governance of public sector banks, Jaitley proposed to set up an autonomous Banks Board Bureau to help lenders raise capital for expansion needs.

"The Bureau will search and select heads of public sector banks and help them develop differentiated strategies of capital raising plans besides innovative financial methods as well as instruments," he had said while presenting the Budget for 2015-16.

Wednesday, March 25, 2015

Why Improvement In Banks or Elsewhere Is Not Satisfactory?

When dream of Achhe din will be become real

Government has yet to work for supply of pure common men, sale of purified water on shops and availability of pure water in all schools, colleges, offices, and all departments.

Similarly traders are selling many fake medicine, costly medicine, charging exorbitant charges on medical treatment, prescribing unwarranted pathological test to patients to earn commission and so on. Government has yet to take effective step in this direction to ensure comfortable and affordable medical care in all villages, towns and cities.

Packed food sold in the market is not always safe. Quality of food items , grocery items, vegetables and all eatable sold in the market or served in hotel and restaurants should be checked from time to time and strict punishment should be awarded to persons who are indulged in unethical adulterations and cheating with consumers and thus causing risk to health of common men.

 Quality of Public utility services like bus, trains, road, electricity, traffic control, discipline in office, corruption free services, affordable service charges in government offices  and other amenities pertaining to  infrastructure which directly affects public life should be improved.

Court cases in lacs of numbers are still pending in various courts including District court, High court, Supreme courts, Debt Recovery Tribunals, District Magistrate, Income Tax Tribunals and other local bodies  . Efforts are still lacking to speed up delivery of justice and to improve quality of judicial services.

Common men still fear meeting police officials and filing of FIR in police stations. Government has to make efforts to change this unhealthy environment and ensure that police personnel become people friendly and people feel safe as soon as police takes up their case .

Quality of teaching in schools and colleges is not good. Fees are exorbitant .Twenty to twenty five years ago , student of poor and middle class family could dream of higher education without taking loan from any bank . Now, majority of student have to take loan lacs of rupees from bank for getting admission in colleges of higher education and even then he or she is sure of getting quality teaching and fair result.

Even primary school education has gone beyond the reach of common men. Government schools and colleges have become a place to learn indiscipline goondagardi and all types of bad habits like drinking, drug addict, tobacco chewing ,cheating in examination, etc . Lacs of rupees are demanded even for taking admission in nursery classes .

There is no control on quantum of fee charges by private schools in the name of freedom. Private schools try to give higher marks to majority of students and pass all rightly or wrongly just to have good image for the school and just to continue their loot of students .
Examinations conducted by schools and colleges are not fair. Students are passed and given higher ranking on payment of bribe to concerned authority. Results declared by dishonest schools and colleges do not speak about real quality of student. Entire country has in past few days seen how cheating is openly permitted in the state of Bihar . Such type of cheating is promoted by district administration and state government in all states to ensure best result of the schools and thus to get rid of questioning from their regulators and from parents.

Above mentioned are few points which affects the culture and image of the country and thus cause weakness in the system . There are many such points which need to be taken care for Achhe Din for common men which Modi promised .

There is no doubt in it that present government led by Mr. Narendra Modi has been moving in right direction. Still government has to make many more persistent and consistent efforts to ensure good governance.

Considerable good work has been done to ensure cleanliness in the country. Yet cleanliness on road, and streets, offices , schools and colleges, parks and historical places, trains, public places etc is not satisfactory. Many initiatives have been taken by Modi government, but the outcome is still poor and need continuous follow up.

Government has suggested all elected representatives for village adoption to ensure all round progress in the village. They have promised for developing hundred smart cities .But in reality, progress in this direction does not appear to be satisfactory.

Country level movement was started against prevailing corruption in government offices , departments and ministries . Modi had promised to clean the administration to make it easily accessible for common men without any fear of action or any need of exchange of bribe for getting work done. No doubt , some initiative has been taken in this direction. Still the culture of flattery and bribery in most of offices persists. A lot more has to be done to ensure improvement and to give a honest, quick, effective and hassle free system for Indian citizen who are awaiting Achhe din with keen eagerness.

Financial indiscipline has become the culture in all offices and departments . Dirty culture of flattery and bribery persists almost in all schools and colleges , in all hospitals and nursing homes, income tax department or custom offices, service tax offices or pollution control offices and in almost all Public sector undertakings, banks and insurance companies. Volume of bad debts are on rising trend in all public sector banks only due to financial indiscipline in banks as well as in political domain and in supporting legal departments and administrative offices.

Root cause of this dirty culture is the power of transfer, power of giving arbitrary and whimsical promotion to inefficient and dishonest workers at the cost of good performers ,and power of recruitment involving unfair means . Such power promotes flattery culture and bribe culture . Government has to do much in this direction and for making the system more transparent and without any discrimination to any worker.

Every worker has a right to be promoted in stipulated time until it is proved that he or she is dishonest or totally inefficient. System of taking interview for promoting a person from one scale to other or from one cadre to higher cadre or for good posting makes the ground for manipulation and promotion of unfair means. This culture has to be changed if Modi Government want real improvement at ground level.

Government has to ensure punishment to all evil workers, to all criminals , to all defaulters, to all law violators in quickest time period. Only the fear of action can promote good culture in the minds of bad workers and bad citizen.

It is good that the government is making efforts for creation of better Public grievance redressal  system .  There is system of seeking feed back from consumers and customers in almost all offices . But the real need of the hour is to ensure quick action on genuine cases of complains and punishment to those who submit false complains to tarnish the image of any individual or any party . Lacs of complains are submitted to various offices of state government or central government every day but in hardly a few cases real action is taken . Fact is that real culprits are exonerated and innocents are made scapegoat to save top officials and ministers.

Elected representatives who make a lot of promises before voters before election forget to visit their area of operation for months and years. If all MLAs and MPs are legally bound to visit their areas for specified minimum days and to work on promises they made , it will send good message among voters Similarly on Land bill, if all elected MPs meet farmers and convince them the merit of Land bill, the dirty debate and protest taking place in many parts of the country will stop and get reduced to minimum.

Public representatives who are paid so much for their job have to be made accountable and responsible and if needed punishable. It has been found that a few elected MPs by their hate speech are causing disturbance to communal peace and widening the gulf between various communities. Why they are not punished and taken to task immediately so that others do not dare giving hate speech.

I am most confident that Modi Government will take this letter in good spirit and take all possible and appropriate steps to transform India . It is the need of the hour to inculcate good and healthy practices in journalism too. Media men who are tarnishing image of the country and who are provoking ugly debate on national issues and sending wrong message to international communities must be brought to task. Freedom of speech is granted by Constitution but if the freedom is not regulated it will have disastrous impact on the society and on the future of the country.

In the age of liberalisation and privatisation , businessmen are given more freedom than they were enjoying in socialistic pattern of government. But this freedom without monitoring and without any check point has become a cause of price rise on all fronts. Businessmen are earning exorbitant profits on their products and services and common men suffer the consequences. Government cannot control inflation and price rise merely by monetary steps taken by RBI until consistent efforts are taken at all level to contain the price , to stop hoarding for profit making , to stop cartelisation and so on.

Acche din will come with Acche laws and Acche actions only.

Government has to ponder over why farmers are committing suicide, why bankers are committing suicide, why students commit suicide, why IAS officers are killed, why honest officers are transferred to remote and insignificant posts and places , why leaders speak the language of enemy country , why media men play foul game and are involved in dirty politics of various political parties, why media conduct debate on the bais of caste and community, why media men are mostly negative , why media men do not hesitate portraying bad image of the country and so on............

Last but not the least, I am hopeful that BJP and Congress Party or you may say that ruling party and opposing party should stop behaving as India and Pakistan and try to work together in the larger interest of the country and common men.

Tuesday, March 24, 2015

Discount Market On Online Amazon And Flipkart

Apple, Samsung get into a discount battle on Amazon; cos sell 1L iPhone 5c & Galaxy S4 units

KOLKATA: Amazon India has become a battleground between Apple and Samsung. Both companies are selling smartphones at a discount only on the portal after yanking them out of brick-and-mortar stores.

Apple slashed prices of the iPhone 5c, one of its slowest-selling models, by 30% and now offers it exclusively on Amazon. Korean rival Samsung followed up with a 23% discount on its erstwhile flagship Galaxy S4 smartphone on the website.

Both Apple and Samsung are liquidating unsold inventory of the two models, according to senior trade executives. It is estimated that the two companies have sold almost 1 lakh units together on Amazon - the highest ever for these models through a single point of sales.

"It's a strategic move by Apple and Samsung to focus on two of the fastest-growing smartphone segments where their presence has been limited," said Tarun Pathak, a senior analyst at Counterpoint Research.

Flipkart Big App Shopping Days: Best deals for the fashionistas

Xiaomi Redmi 2 goes out of stock in 2 minutes; Might go for open sale soon

Flipkart's Big App Shopping Days sale: Moto G (Gen 2) gets Rs 2,000 price cut

After tasting huge success with last year's Big Billion Day sale, Flipkart is back with another mega sale called the Flipkart Big App Shopping Days.

The sale kicked off on Monday and offers lots of incentives when a user downloads the Flipkart app. Surprisingly, the discount offers are only limited to the Flipkart app for Android, iPhone, and Windows Phone, and not via the Flipkart website.

As part of the promotional offer, Flipkart has cut the price of the Motorola Moto G (Gen 2) by Rs 2,000. The smartphone, which costs Rs 12,999, will be available at Rs 10,999 between March 23-25 if consumers buy it using Flipkart's mobile app. The discount is not available to consumers purchasing the device through the website.    

Flipkart is also offering 1GB free 3G/2G Airtel data per month for two months to the new Moto G buyers. The second- generation Moto G comes with a 5-inch HD display with 1280x720 pixels resolution.

It is powered by a 1.2GHz Snapdragon 400 quad-core processor and has 1GB RAM. Internal storage includes 16GB which can be expanded up to 32GB through a microSD card.

It is a dual-SIM device that runs Android 4.4.4 KitKat. It sports an 8-megapixel rear camera and a 2-megapixel front camera. It has a 2,070mAh battery. Motorola and Flipkart recently launched the Moto E (Gen 2) 3G variant in India at a price of Rs.6,999.
A 4G LTE variant is also expected to launch in the coming months. It is likely to be priced under Rs.10,000. The Moto G is not the only phone that Flipkart is selling with a discount to promote the Big App Shopping Days sale.

Monday, March 23, 2015

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