1/- HAMARA PRAYAS...50 Years of Bank Nationalisation by Editorial Team 35 Health Insurance Policy covers Mental Health by Editorial Team 35 Digital India’s Time is Coming by T. Girish

150 150 150 Years of GandhiYears of GandhiYears of Gandhi

(1869-2019)

-MahatmaGandhi

"Whenindividualsjoininacooperativeventure,thepowergeneratedfarexceedsindividualaccomplishment"

Editor : Ranjana Sharma

THEMONTHLYTABLOIDOFANDHRAPRADESHMAHESHCO-OPERATIVEURBANBANKLTD.

HAMARA PRAYASHAMARA PRAYASHAMARA PRAYASHAMARA PRAYASHAMARA PRAYASHAMARA PRAYASAssociate Editor : A. V. Rama Rao

Volume - IX Issue : 8 Price : ` 1/-| |

Postal Regn. No. : RNP/HD/1145/2017-19

AP ENG/2011/38018, Dated 24-06-2011 RNI Regn. No. :

Date of Publication : 17th August, 2019

19th August, 2019Date of Posting :

Sci Sci Sci Sci Sci Sci IssueIssueIssueIssueIssueIssue

BOARD OF DIRECTORS BOARD OF DIRECTORS BOARD OF DIRECTORS

PURSHOTAMDAS MANDHANAChairman

RAMESH KUMAR BUNGChairman Emeritus

RAMPAL ATTALVice-Chairman

DIRECTORS

BRIJGOPAL ASAWA

NANDKISHORE HEDA

SRIKANTH INANI

CHAINSUKH KABRA

OMPRAKASH JAKHOTIYA

SRINIVAS ASAWA

KAMALNARAYAN RATHI

Smt. PUSHPA BOOB

KRISHNA CHANDRA BUNG

RAMPRAKASH BHANDARI

LAXMINARAYAN RATHI

SRIGOPAL BUNG

CA KISHAN GOPAL MANIYAR CS SUMAN HEDA, LLM

PROFESSIONAL DIRECTORS M.D. & CEOUMESH CHAND ASAWA

(MULTI - STATE SCHEDULED BANK) Website : www.apmaheshbank.com

ANDHRA PRADESH MAHESH CO-OP.URBAN BANK LTD.

CONTENTSCONTENTSCONTENTSMessages by Various Dignitaries 5-12

From the Editor’s Nib by Ranjana Sharma 13

From the Chairman’s Desk: The Centre of Health by Purshotamdas Mandhana 15

Chairman-Emeritus Inks :The ‘Yes Syndrome’ by Ramesh Kumar Bung 17

MD & CEO Speaks by Umesh Chand Asawa 19

UPI – BHIM MAHESHPAY APP by IT Department 21

Financial Stability Report: RBI by Editorial Team 23

Live in the now by Rampal Attal 25

Something for Something by A.Masthan Reddy 25

Goal Setting and Leadership Building by Raghuram Shetty 27

Role of Cooperation in Gram Swaraj: Gandhiji by Sheela Jaiswal 29

Budget 2019: Rs. 70000 Crore recapitalisation by Editorial Team 31

GST: New Returns System by L.V.S. Prasad 31

Do You Know? by P. Venugopal Reddy 33

50 Years of Bank Nationalisation by Editorial Team 35

Health Insurance Policy covers Mental Health by Editorial Team 35

Digital India’s Time is Coming by T. Girish 37

India over the Moon by Editorial Team 39

Government’s Plan to Monetise Assets by Editorial Team 41

Fun Corner by S. Vivek 42-43

Ethics: The New Way of Business by CS Suman Heda 44

Panchatantra by T. Gangadhar Rao 45

Vedas do not support Meat Eating by Ajeet Kumar Varma 46-47

Salam Hyderabad by Purshotamdas Mandhana 47

Eat to the Full by Y. Uma Prasanna 50

03HAMARA PRAYAS - SPECIAL ISSUE 2019

CONTENTSCONTENTSCONTENTS

04 HAMARA PRAYAS - SPECIAL ISSUE 2019

Tips for Losing Weight by G. Nanda Kumar 51

Bollywood Block Busters by Amith Kumar Bajpayee 51

Tips for Driving in Heavy Rain by Padma Vijay Kumar 52

Famous Firsts by Govind Verma 52

Time Management by Umesh Chand Asawa 53

Banking Awareness by Editorial Team 54-55

Courtney Walsh by G. Amarnath 56-57

Economic Survey tabled in Parliament by Editorial Team 57

Fraud Risk Management by Ranjana Sharma 58-61

Is this world Trustworthy? by D.S.V.V. Satyanarayana 61

India’s Most Luxurious Trains by Gopal Kishan Dev Sharma 62-63

Union Budget:2019 by Editorial Team 64-65

The History we are making Today by S. Rama Sarma 65

India’s Highest paid Lawyers by P.V. Prasada Rao 66-68

What is Swadharma? by Ramesh Kumar Bung 69

Artificial Intelligence by Badrinath Kilambi 70-73

RBI asks for resolution framework by Editorial Team 73

Answers to Banking Awareness by Editorial Team 74-77

ICC: New Age Banking Summit by Editorial Team 78

What is Venus like? by A.V.Rama Rao 78

A Look at Population of the World by Sandhya Rani Patnaik 79

Pan & AADHAR Cards Holder Alert by N. Visweswara Shastry 80-81

Nasa is sending a life-hunting Drone to Saturn's by Editorial Team 82


To,Sri Ramesh Kumar BungChairman Emeritus Andhra Pradesh Mahesh Co-op. Urban Bank Ltd.Hyderabad


To,

Sri Ramesh Kumar Bung

Chairman Emeritus

AP Mahesh Co-op Urban Bank Ltd.

Hyderabad

Sri Subrata Das

Regional Director

Reserve Bank of India

Hyderabad

MESSAGE


To,Sri Ramesh Kumar BungChairman Emeritus Mahesh Bank Hyderabad


To,


Chairman Emeritus

Andhra Pradesh Mahesh Co-op Urban Bank Ltd.

Hyderabad

09

To,Sri Ramesh Kumar BungChairman Emeritus Mahesh Bank Hyderabad

HAMARA PRAYAS - SPECIAL ISSUE 2019


To,


Chairman Emeritus

Mahesh Bank

Hyderabad



To,


Chairman Emeritus

Mahesh Bank

Hyderabad

A.V. Rama Rao

FROM FROM FROM EDITOR'S EDITOR'S EDITOR'S

NIBNIBNIB

‘ÝX… H${d¶e… àmWu J{‘î¶må¶nhmñ¶Vm‘²&àm§ewbä¶o ’$bo bmo^mXþ×mhþ[ad dm‘Z…&&

(Raghu Vamsa - 1-3 by Kalidasa)

'Will I become the butt of ridicule if I were to covet the

celebrity of an eminent writer, like a short fellow

overstretching his arms for a fruit obtainable only by the

tall, because I am still a dunce in this subject matter?',

the eminent Sanskrit poet Kalidasa exhibits his modesty.

Keeping up with the times, I am delighted that your Hamara

Prayas – Special issue is reaching you with several features. I

hope that this tabloid will be an effective tool with lot of

knowledgeable articles to enrich your awareness of many

subjects in general and banking in particular.

Looking back, this in-house communiqué has covered articles

on GST, the government policy initiatives and various

achievements in science, IT, sports and social justice along with

articles on banking and of general interest. HAMARA PRAYAS

completed 100 months of circulation with the May 2016 issue.

We continued to march ahead with further issues of inspiring

breakthroughs and changing thought process through HAMARA

PRAYAS, I wish to express my gratitude first to my readers for

their patronage, then to our staff and then to my editorial team

for their finishing touches and finally, the printers for consistently

raising the bar of excellence. This 127th edition is packed with

information spread across numerous sections with some major

shuffling of pages to house more data.

Hamara Prayas also aims to provide a healthy perspective to life.

As you hold this growth magazine in your hands, believe that a

perturbing question will be answered; a stumbling mind blocked

will be removed. You need to read the articles and let the essence

seep in ... until it becomes a part of your career.

And if any article, any message, or even any illustration, a

quotation, for that matter, inspires you and triggers your thought,

you could straightaway write to us. We will be more than happy

to hear from you and share your thoughts and experiences with

all our readers.

This is not only the 50th year of Bank Nationalisation, 20 years of

Kargil war and 50th year of Man Landing on the Moon, but also

150th Birth Anniversary of Father of the Nation, Mahatma

Gandhi. On the occasion of his 150th birth anniversary, we are

coming in front of you with this Special issue and solicit your

valuable suggestions for further improvement of the tabloid.

Yours truly,Ranjana Sharma

Editor

ASSOCIATE EDITOR

Ranjana Sharma


SIGNIFICANT EVENTS OF THE YEAR

Sri Purshotamdas Mandhana, Chairman addressing the shareholders during the Bank's 42nd Annual General Body meeting held at FTAPCCI, Hyderabad. Sri Ramesh Kumar Bung, Senior Vice Chairman, Sri Rampal Attal, Vice Chairman, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO and members are present in the meeting.


15

FROM THE CHAIRMAN'S DESK

FROM THE CHAIRMAN'S DESK

observes the body and mind all the time; that indicates that you are growing towards the centre of health. Just as a playful experiment, next time when you have a mild headache, just ignore it and move on with your daily life, without collecting information about headaches from Google or speaking about the headache to others. If you do this, you are not giving a chance for your mind the intermediate which plays all the emotional drama, to play mischief. That is when you will move towards the centre of health, which is not only beyond the body but beyond the mind too. All the drama is created by the mind, all the exploration about health and healthy practices is done by the mind. The ego part of the mind cherishes 'mine is the best practice' or 'I know about everything'. The intellect part of the mind starts gathering information to the extent that one can write a book on health. The emotional part of the mind starts associating the positive or negative emotions about the whole thing. Even the pain and intensity of the pain is perceived by the mind. That is why each one's pain perception and pain tolerance vary. From this background, opinions, judgements, concepts about health and healthy practices are born out of the mind. Then everything is based on the perception of that individual mind. Being the observer by not making any opinions, our inner self occupies the centre stage of health. The health which radiates from the inner self is beyond comprehension. It never changes. The natural quality of the inner self is 'Health'. Probably at times, it is covered with layers of an unhealthy body and mind. Healthy or unhealthy practices make an impact on the body and mind and not on the inner self. The inner self is just there forever with its original radiance. Ideally, healthy practices should make the body and mind so strong that it should lead us to a state where our attention turns towards the inner self, which will help us to grow healthier. That is exactly what yogic practices emphasise. So much work is done on the body and mind in the initial phases of yoga practice that we will be able to beyond them and focus on the inner self. Being aware of the inner self, which is the master of the body and mind, is the highest form of health.

Purshotamdas Mandhana

THE CENTRE OF HEALTH

The body is a wonderful vehicle to travel this journey

cal led l i fe. Without i t we cannot fulf i l the

responsibilities of life. It is very important to keep the

body hale and healthy. And many of us have been

doing what must be done to keep it healthy. In the

olden days, health was not discussed so much but

health was practised. People did not speak about health much, but they lived a healthy life. In today's world, there is a significant shift in our lifestyle in comparison to old days, which is one of the foremost reasons why we end up talking about health so much more than practising good health. And our definitions of health also vary from time to time. According to world Health Organisation (WHO), health is defined as 'a state of complete physical, mental and social wellbeing and not merely the absence of disease or infirmity'. At one point of time, energy, enthusiasm, exuberance and positivity was seen as health but today being in size zero is seen as health. And this definition would vary from time to time and person to person. Each one of us should identify with our definition of health is, in the present. It is a never-ending journey. Till our life sustains the body is needed to sustain life and the exploration should continue but every time we should take a small step towards the centre of health. That is, we should progress beyond the body. We are not just the body. We are the combination of the body, mind and inner self. We act and react because there is the mind. The mind is the connecting bridge between the body and inner self. The inner self just watches as an observer and it does not have any opinions and judgements about health or health practices. Even when you or others follow unhealthy practices, it just watches everything as an observer without forming any opinions or judgements about you and others. The beauty is when you develop the awareness about the observer who

Unless you stand up yourself, no one else will – Ramesh Kumar Bung.


MOMENTOUS EVENTS OF THE YEAR

Sri Ram Kripal, IRSSE, Commissioner of Railway Safety, South Central Circle, Smt. Shikha Goel, IPS, Additional Commissioner of Police (Crimes and SIT), Govt. of Telangana and Sri Raghuraj, General Manager, IDRBT, Hyderabad who graced as the Chief Guests inaugurating Bank's 41st Foundation Day Celebrations. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Rampal Attal, Vice Chairman, other Directors on the Board, former Directors, Sri Umesh Chand Asawa, MD & CEO and staff members participating in the celebrations. Performing branch managers, winners in various sport events and the children of staff receiving the certificates, prizes and scholarships respectively.

THE 'YES' SYNDROME

YES! I will call you. YES! You are right. YES! I will do it

for you.YES! I should it because the person is more important to me than my NO to him.YES! I agree as I do not want to hurt you. YES! I did this because I am scared of fights. The above statements are a daily part of our lives, are not they? However, there are times where we regret our acceptance of something or someone, where we did not mean it. This all starts from childhood. There is a need to be accepted and loved by our school group, college group, a particular friend. Then as we grow older, the source group shifts and the need for acceptance continues. Now we need it form someone special, from our work colleagues, superiors, peers, family, life partner and the list goes on! We all experience this in our work and personal life is not it? Have we ever thought about why we say YES when we want to say NO? The fact lies in the need for it. Many times, we say YES to something although we want to say NO because of these two aspects: (a) The need for love and acceptance; (b) The fear of uncertainty. It is interesting to get into the details of these two. We all have accepted certain types of behaviours at times just to fulfil the need of being liked or the need of being accepted. This happens when someone is raised by emotionally unavailable parents, someone who has lived alone for a long time, someone who has had a difficult past or experienced a traumatic event in any area of life. This triggers the inherent need for love and acceptance. This also develops a fear of being left out or not being loved. Right from childhood, the place of love and care is fulfilled by parents. There are many adults today who struggled with this YES syndrome, who are raised by emotionally unavailable parents. As they grow, their need for love takes a backseat and their survival responsibilities take over.

Most importantly, their mind unconsciously seeks the love and acceptance that they never experienced in their childhood and that is where the 'yes syndrome' begins. In order to fulfil this, without even giving a second thought, they say YES. Some get into emotional slavery. Some allow others to take them for granted. And they keep on saying YES in the hope that they will receive love or acceptance. The fear of acceptance is a by-product of the need for love. We all operate from certain fears that we don't want to deal with. The fear of uncertainty is one of them. When we do thing we don't want to, there is a fear of 'what if I lose or hurt a person'. There is so much fear that one can go into pleasing mode or become the slave of a person to an extent that eventually, they will forget what they want from life. In family situations, people avoid confrontations and they accept certain behaviours just to please the other or fulfil their need for love and affection. But this is nothing but an illusion of love. These are people who operate out of their fears of losing the presence in someone's life. The fact is, we do not know what tomorrow will bring. So, there is no question of uncertainty or the fear of losing people or something. We think our life will end or we will be lost if the relationships end in this present moment. The master key to all of this is to work on yourself. The moment you shift your source of need internally, you no longer need to have acceptance from the external environment from other people. Once you choose what is important for you and work internally first, you will gradually become a person who is absolutely comfortable in your own skin. That is where the self-discovery starts. Then the journey is all about being a fulfilled person and being confident about your own thoughts and actions. Once you experience this clarity, it becomes easier to take a stand for yourself. Once you learn the art of putting your emotions first, your story of 'I said yes when I wanted to say no' will shift to 'I said no when I want to say no'.

Ramesh Kumar Bung

17

CHAIRMANEMERITUS INKS

CHAIRMANEMERITUS INKS

Savings are a great way to give yourself a sense of security – Ramesh Kumar Bung.

IMPORTANT MOMENTS

Sri Purshotamdas Mandhana, Chairman inaugurating the 3 day training programme on credit for branch managers held at State Bank Institute of Consumer Banking. DGM and AGM of SBI in the photograph.

Sri Purshotamdas Mandhana, Chairman hoisting the National Flag on 72nd Independence Day at Bank's Head Office. Smt. Pushpa Boob, CA Kishan Gopal Maniyar, Directors, Sri Umesh Chand Asawa, MD & CEO and staff members present on the patriotic occasion.


19

My Dear Colleagues,

The duration of 42 years is a long journey. Our

beloved Organisation, which was established and

planted on 9th August 1978, has grown leaps and

bounds in an unprecedented manner with

undeniably spectacular performance over these

years is earning laurels in the entire cooperative

fraternity. It continues to be on the ladder of

prosperity year by year.

‘Rome was not built in a day’ is a French proverb

which belongs to 1600 A.D. It is an adage attesting

to the need for a considerable duration of time to

create great things. All the people who arrive at a

shared experience of purpose unitedly perform

things together leads to building up a legendary

organisation.

The vision and dynamism of the founders and

incessant efforts and guidance of the former and

present directors on the board from time to time

have been motivating us for economic progress of

our esteemed institution. Needless to say, the

stakeholders, well wishers and customers have

been encouraging and contributing to the never-

ending growth of the organisation till date. It is for

all of us to express our heartfelt gratitude to them

and endeavour for further betterment.

If you strive hard to build an entity and then

observing it grow will certainly give you a sense of

achievement. Then you will not need anybody to

acknowledge your growth. What a man can do,

everyone can do-just that we have to get the game

right.

Customers don’t buy products or services.

They actually buy certain satisfaction.

Satisfied customers are the best salesmen in

the service sector. Develop customer

intimacy and the customer will develop a

market for the organisation. Take care of

your customer and in turn, they will take

care of business. The competition is already

at your door step.

Wishing you a memorable and a happy 42nd

Foundation Day and all the best throughout,

Cordially Yours, Umesh Chand Asawa

MD & CEO SPEAKS

MD & CEO SPEAKS

8 Truths Of Life Truth No 1 : Nobody is real in this

world except Mother.Truth No 2 : A poor person has no friends.

Truth No 3 : People do not like good thoughts they like good looks.

Truth No 4 : People respect the money not the person.

Truth No 5 : The person you love the most, will hurt you the most!

Truth No 6 : Truth is Simple, But, The Moment YOU try to Explain It,

it Becomes Difficult. Truth No 7 : "When you are happy you

enjoy the music", but "when you are sad, you understand the lyrics".

Truth No 8 : IN LIFE Two things define you " Your patience" when you have nothing

& "Your attitude" when you have everything...

While we concentrate on our body, do we do the same with our inner self? – Ramesh Kumar Bung.

GLIMPSES OF THE YEAR

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO and staff performing Ganesh Pooja at Begum Bazar Branch.

Sri Vijay Kumar, Chief General Manager, Reserve Bank of India, is being honoured by Sri Ramesh Kumar Bung, Chairman Emeritus, during his visit to Bank.

Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Umesh Chand Asawa, MD & CEO interacting with executives and officers of Karnataka State Souharda Federal Cooperative who visited the Bank.


I. Registration: 1. After Downloading MaheshPAY app from play store, user needs to complete the registration process.

2. User needs to click on “Register me” and send an auto SMS for confirming the mobile number, then enter personal details (Name, Email address and VPA).

3. VPA stands for Virtual Private Address and it should be unique for everyone.

II. Setting up password for BHIM MaheshPAY1. After entering personal details, User needs to set up

password for MaheshPAY application.2. In MaheshPAY app login password is 6-digit numeric.3. Each time logging into application, User needs to enter

his/her 6-digit password.III. BHIM MaheshPAY Dashboard1. After login into MaheshPAY, user can see various

options.2. User can simply add Banks, Pay Money, Request

Money, Scan QR code; Generate his own QR code and so on.

IV. My Account1. After Clicking on My Account icon user can see his

linked account in MaheshPAY App.2. Customer can also perform Balance Enquiry under

My Account Tab as shown above.3. Click on Balance Enquiry, enter UPI PIN and

Customer can view his available balance.4. Customer can also Generate UPI PIN and change

existing UPI PIN under this tab.V. Generate UPI PIN and Change UPI PIN1. Under My Account there is option of Generating UPI

PIN and Changing UPI PIN2. While Generating UPI PIN customer needs to enter

last 6 digits of debit card (Debit card which is linked to account)

3. Enter month and year of expiry and tap to YES.4. NPCI Library will open and OTP will be send to

registered mobile number. OTP will be detected automatically after that enter 6 digit UPI PIN and confirm it again. Press on tick icon and UPI PIN will be generated. UPI PIN is asked during all financial transactions.

5. Similarly, we can Change UPI PIN, User just needs to click on change UPI PIN. Enter his existing UPI PIN then enter new UPI PIN confirm it and UPI PIN will be changed.

VI. My Transactions1. After Clicking on My Transaction icon, customer can

view his historical transactions2. Customer can choose from various options like-

Today's Transactions, Last 5 Transaction, Last 10 Transaction

3. Customer can also choose to view older transaction by clicking on select period and entering from and to Date.

4. After selecting one of the options, customer can view transaction in 3 different tabs which are – CREDIT, DEBIT and OTHERS.

VII. My Banks and Add banks (Dashboard)1. My Banks: - Under “MY BANKS” user can see number

of VPA he or she has created and also banks linked with each VPA.

2. Add Banks: - Under “ADD BANKS” user can select a

Version 1.0.Version 1.0.Version 1.0.

UPI – BHIM UPI – BHIM MAHESHPAY APPMAHESHPAY APP

UPI – BHIM MAHESHPAY APP

21

particular bank in which he or she has an account and add that particular bank for doing transactions. (User can select more than one bank in MaheshPAY).

VIII. Add Payee and Pay Money1. MaheshPAY allows user to add payee and make

payment through multiple options like – Pay through VPA, Account no + IFSC, Mobile number + MMID, Aadhaar Number, Aadhaar + IIN and Beneficiary. User can choose any mode for making the payment.

2. User needs to select payment type as VPA, enter a valid VPA and amount and click on pay.

3. After clicking on pay NPCI library will open and user will have to enter UPI PIN and payment will be done.

IX. Request Money1. Customer opens the MaheshPAY app and enters the

app login and pass code. Select Request Money Option and initiates a request transaction.

2. Customer enters virtual payment address (VPA) to collect money and clicks on verify to check the name of payer.

3. PAYER name is shown to the requester and he enters the amount and remarks.

4. Confirmation of Request Sent is given to the initiator.5. Initiator is notified once PAYER accepts the request for

money.X. Pending Request1. If a user gets a request from someone else, he will be

notified.2. User can either Approve or Reject that transaction.3. If user wish to approve pending collect request he

needs to click on approve and enter UPI PIN.XI. Scan QR and Pay1. Customer can also choose to Scan & Pay through a

QR.2. Application opens a QR scanner which then populates

the details like any other3. PAY transaction and on entering the UPI PIN,

transaction can be completed.4. Name of the PAYEE is fetched from the Bank CBS.

Customer enters the amount and remarks for the transaction and Clicks on PAY.

5. UPI PIN entry page opens where customer enters his UPI PIN.

6. Confirmation of money sent is shown to the customer.7. Customer gets a notification for the success of the

transaction from the app.XII. Generate QR Code1. Customer can also generate his/her own QR code.2. User has to enter the details as amount, purpose and

other details and click on submit3. User can share the generated QR Code to receive

money.

An honest inquiry every sapiens must do – Ramesh Kumar Bung.

MEMORABLE EVENTS OF THE YEAR

Sri Raja Singh, MLA, Goshamahal, Sri Ramesh Kumar Bung, Chairman-Emeritus, other Directors distributing ambrosia to devotees on Ganesh immersion day.

Sri Ramesh Kumar Bung, Chairman-Emeritus inaugurating 3 day training Programme for Officers at SBI training college, Begumpet. DGM and AGM of SBI present on the occasion.


The Reserve Bank of India on 27th June, 2019 said the non-performing asset (NPA) cycle seems to have turned around and the bad loans ratio is set to decline from 9.3 % of advances in March 2019 to 9.0 % in March 2020. Gross NPAs may be slightly higher at 9.2 % under a scenario where the economy is under medium stress and at 9.6 % under a severe stress scenario, the RBI said in its Financial Stability Report (FSR).

With the bulk of the legacy NPAs having already been recognised in the banking books, the FSR said, macro-stress tests for credit risk indicate that under the baseline scenario, gross NPA ratio of banks may decline from 9.3 % in March 2019 to 9.0 % in March 2020. The decline in bad loans was steeper than what the RBI forecast in its FSR report in December 2018. It had then said under the baseline scenario, NPA ratio may decline from 10.8 % in September 2018 to 10.3 % in March 2019.

RBI Governor Shaktikanta Das said the banking sector continues to show improvement as impairment ratios decline and credit growth picks up. Public sector banks showed a noticeable improvement with recapitalisation. Understandably, the signif icant rise in provisioning has impacted the bottom lines of PSU banks. Efforts to improve the balance sheets of banks should therefore continue, Das said in the report.

Among the bank groups, public sector banks gross NPA ratios may decline from 12.6 % in March 2019 to 12 % by March 2020 under the baseline scenario, whereas NPA ratios of private banks may decline from 3.7 % to 3.2 %, and that of foreign banks may come down from 3.0 % to

2.9 %, the FSR said. Bank-wise distribution of asset quality shows that the number of banks having very high NPA ratio (more than 20 %) came down in March 2019 as compared to September 2018, the report added.

Share of large borrowers in banks total loan portfolios and their share in NPAs were at 53.0 % and 82.2 % respectively in March 2019. This was lower compared to 54.7 % and 83.9 % in

September 2018, RBI said. However, the central bank warned that five banks m a y h a v e c a p i t a l adequacy ratio (CAR) b e l o w t h e m i n i m u m regulatory level of 9 % under the stress scenario by March 2020 without taking into account any f u r t h e r p l a n n e d recapitalisation. However, u n d e r t h e a s s u m e d baseline macro scenario,

CAR for a system of 55 banks is projected to fall from 14 % in March 2019 to 12.9 % in March 2020. However, if macroeconomic conditions deteriorate, nine scheduled commercial banks may record CAR below 9 % under a severe macro-stress scenario, the RBI said.

The banking regulator noted that provision coverage ratio (PCR) of all banks rose sharply to 60.6 % in March 2019 from 52.4 % in September 2018, and 48.3 % in March 2018, increasing the resilience of the banking sector. Analysis of the financial network structure reveals that joint solvency-liquidity contagion losses to the banking system due to idiosyncratic failure of banks are lower for March 2019 than in March 2018 (FSR June 2018) due to a better capitalised public-sector banking system, the FSR stated. It added that credit growth of commercial banks picked up, with PSU banks registering near-double digit growth.

Financial Stability Report: NPA cycle 'turned around', Financial Stability Report: NPA cycle 'turned around', bad loans may fall to 9% by March 2020: RBIbad loans may fall to 9% by March 2020: RBIFinancial Stability Report: NPA cycle 'turned around', bad loans may fall to 9% by March 2020: RBI

23Sometimes what we call failure may be the necessary struggle in life called ‘Learning’ – Ramesh Kumar Bung.

A GLANCE ATTHE EVENTS OF THE YEAR


Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, other Directors on the Board participating at Bathukamma Pooja held at Head Office. Lady staff making parikrama around Bathukamma.

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO performing Lakshmi Pooja on Deepawali at Begum Bazar Branch.

It was in my eighth standard then. Like most boys of

my age, I was in the habit of collecting stamps. A

neighbour of mine, Mr. Venkat, used to regularly get

letters from USA. One of those days, I requested,

'Venkat Uncle! Can you please give me some USA

stamps?' Those stamps meant nothing to him. He

could have just handed them over to me. But he did

not. He said, “Find out what is the meaning of the

word 'Philately' and I will give you four USA stamps”.

But there was no dictionary in my home. Internet was

out of question in those days. I literally went from door

to door in my street asking everyone, if they know the

word 'Philately', but all in vain. I went back to Venkat

uncle and requested him to give me the meaning, as

well as the stamps, but he would not relent. The next

day I went to school and asked my English teacher,

who asked me to refer to the dictionary in the school

library. Words won't explain how I felt when my eyes

met the word 'Philately' in the dictionary. It said, 'the

collection and study of postage stamps'.

Much more than the 4 USA stamps I got as a reward,

the greatest lesson Venkat uncle taught me through

this experience was: There is no value when it is

'Something for Nothing'. The true value of anything is

understood only when it is 'Something for Something'.

Ever since, it has been etched into my heart that

charity, which is 'Something for Nothing', keeps a poor

person poor. Charity does not lift people out of the

state in which they are. They don't understand the

value of what they are getting. 'Something for

Something' alone make people value what they get

and hence they grow out of it. Yes, I do sponsor

children's education, but they have to perform for

that. Ye, you should unconditionally work with

people, but they have to show growth for that.

'If a man is hungry and you feed him with a fish,

you have fed him for that day. Instead, teach

him fishing and you will feed him for the rest of

his life' is a Chinese proverb. If you want to help in a

constructive way, see if those boys could be educated

or trained in a useful skill.A. Masthan Reddy

Joint General Manager

SOMETHING FOR SOMETHINGSOMETHING FOR SOMETHINGSOMETHING FOR SOMETHING

25

One morning, the Pandavas were sitting in the veranda of their house. A beggar came to them for alms. He approached Yudhishtira, the eldest of them. Yudhishtira told the beggar that he was busy and asked him to come the next day. He promised to give him something the next day and the beggar left.

Bhima, one of his brothers, immediately picked up the tom-tom drum and started walking towards the town. Yudhishtira was puzzled and surprised. He called Bhima and asked him what the matter was and what he was doing. Bhima answered, 'I am going to town to announce to everyone there that my brother Yudhishtira has conquered time'. 'What do you mean?' the perplexed Yudhishtira enquired.

Bhima replied, 'A beggar came to you for alms and you made a promise for tomorrow. You asked the beggar to come and collect alms tomorrow. How do you know that you will be alive tomorrow? How do you know that the beggar will be alive tomorrow? Even if both of you are alive, how do you know that you will be in a position to give alms tomorrow, and how do you know that the beggar will still be in need tomorrow? How do you know that both of you will meet tomorrow? Yet, you have made a promise and asked him to come tomorrow. This makes you the first

person to have conquered time. So, I am going to town to announce that my brother here has conquered time'.

The only reality is now. Now is the only time there is. Every day we wake up is today. Monday does not exist 3 days from now. Monday is now. Thursday is now. The future will be born, but born out of now..... and when born, tomorrow becomes today. Man has split himself with his mind on yesterday, heart on tomorrow and the body breathing in the now. Give up this split. Live in the present. Presence of mind means being present in the present..... in the now. The heart beats now. The inhabitation happens now. God is in the now. Live in the now.... now is the only reality.

Rampal AttalVice - Chairman

LIVELIVELIVEIN THE NOWIN THE NOWIN THE NOW

Sometimes animals can teach us lessons in living – Ramesh Kumar Bung.

Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri A. Masthan Reddy, JGM and Sri Balakrishna Murthy, Faculty, State Bank of India Learning Centre, Gachibowli inaugurating the 3 day intensive Credit Programme conducted at Staff training centre, Begum Bazar on 14.07.2017.

EVENTS IN THE BANK


Sri Purshotamdas Mandhana, Chairman, Sri Umesh Chand Asawa, MD & CEO cutting the New Year Cake at Head Office. Picture shows executives and employees.

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus hoisting the National Flag on 70th Republic day of the country. Smt. Pushpa Boob, Director, other officials and employees at the event.

A picture of achievable goals is set by many people for us. People from our community and those who have accomplished their goals set benchmarks. However, what happens with one does not become a trend. The simple reason is that each one of us is built with a different DNA and characteristics that we use to make our choices. Our interests, existing skills and aptitude provide the framework on which to build our goals. And these are always different for every individual. The clash comes when there is well-meaning but uncalled for intervention. Comparison to what others have done and succeeded in leads to pressure. This often leads to wrong choices and deters us from finding true purpose, leading us to follow paths set by others.

Ÿ If everyone is right, then who is wrong?

Ÿ What follows is dissatisfaction and losing of our personality. We end up questioning our existence and introspect to find our 'true north'.

What is of key importance here is not emulating the path o f s u c c e s s f u l p e o p l e , b u t d e v e l o p i n g t h e characteristics/skills that successful people and leaders have to achieve our own unique goals:

PURPOSE – PLANNING – PEOPLE SKILLS – PERSISTENCE – POISE

Means to the end: These characteristics and qualities can be incorporated, further honed and shaped to achieve our goals. Now, let us discuss how goals come into existence. They can be broken down into abstract and concrete goals. Abstract goals can be defined as those plans till we get a clear picture of what we really want to achieve. They are just an assessment phase and give us a sense of direction to our concrete goals. Establishing concrete goals involves making a plan and logically breaking it down into an actionable to-do list. These define our short-term and long-term goals. Short term goals are those that we can attain in the near future, in preparation for our life's very purpose (long-term goals). More often than not, they are related to what legacy we want to leave behind.

Goal Setting for a Great Leap: Establishing goals that provide the setting goals provide the base on which to build and enrich our lives. Achieving each milestone towards those goals imbues pride in our parents and mentors and makes us even more focused. This gives us the confidence to face challenges, test our skills and know our pain points. The essentials of our performance, the way we work towards our goals depend on three main factors which dictate the trajectory we take.

Ÿ EQ or Emotional Quotient relates to how our heart and body react to situations and external stimuli and how we feel. EQ identifies with the will to do things.

Ÿ IQ or Intelligence Quotient relates to our ability to solve rational problems and achieve defined tasks and is indicative of our POTENTIAL to achieve our goals.

Ÿ Lastly, SQ or the Spiritual Quotient defines our very

purpose – WHY behind what we do.

Ÿ To make an impact, make it personal! Be the first to do it and not the no. 1!

How do our goals get shaped?: For most of us, our goals are a manifestation of the way we communicate with our environment and our experiences within it. When we expose ourselves to the elements we shape our perceptions and our thought process. Our survival instincts kick in. Our environment constitutes the people we interact with, in every facet of our lives. In school or place of learning, our peers, teachers and mentors are the biggest influences.

At workplace, we look up to the person whose position we eventually want to reach. The stakeholders at various rungs of the department or organisation also shape our thought process. And of course, the society at large, the community, friends circle and family play a critical role. Often our family members and family situations propel us to evaluate our standing and formulate our goals.

Ÿ Mindfulness about those key elements helps us focus on the right decisions for our career and life.

Ÿ Strengths will help us take advantage of important opportunities and use our EQ, IQ and SQ to the best of our capabilities. We become resourceful, creative and strong-minded.

Ÿ Conversely, being aware of weaknesses is the first step to working towards them and also seeking support in areas where needed. This step is imperative to accomplish goals.

Ÿ Strengths need to be enhanced and further developed to achieve maximum potential. And how is this done?

Ÿ Knowledge is the key of building skills that are relevant for achieving your goals.

Ÿ However, the best knowledge is gained at meccas of learning which are schools/universities and then tested at the workplace. Both forums are unique not just because of their excellent curriculum and environment, but because they have the best mentors in the world, who have tested their skills and believe in 'Learn .... Share... Grow'.

Ÿ And, it is important to start early. The formative years are the pathway that allow for flexible execution and course correction to ensure that you stay on your path. Last but not the least, shrink your environment and be humbly bold.

Raghuram ShettyGeneral Manager

GOAL SETTING AND GOAL SETTING AND GOAL SETTING AND LEADERSHIP BUILDINGLEADERSHIP BUILDINGLEADERSHIP BUILDING

27Are you one of those people who always nod ‘yes’ even when you want to say ‘no’? – Ramesh Kumar Bung.


A PANORAMA OF EVENTS

Sri Purshotamdas Mandhana, Chairman, Sri Umesh Chand Asawa, MD & CEO handing over the certificates of appreciation for mobilising insurance products.

Sri Purshotamdas Mandhana, Chairman, CA Shyam Kothari, Secretary Birla Archaeological Foundation inaugurating Refreshers' Training Programme for officers at Birla Foundation.

The entire thinking of Mahatma Gandhi, behind the prosperity of villages and villagers, was inspired from his high philosophy of life involved with best human qualities and deep concern for the extreme poverty of the rural people and how to eradicate it.

Bapuji was deeply moved after seeing the pitiable living conditions of the rural folk despite of their massive contribution in meeting the food needs of the urban populace. This made him to deduce that unless the living conditions of the rural people improved, independence for the nation did not carry much meaning.

Mahatma envisioned `Gram Swaraj' wherein there would be social and economic changes in the villages. His programme for Gram Swaraj included `cooperation' also. In an article the Mahatma had penned, `cooperative s o c i e t i e s a r e i d e a l l y s u i t e d organizations not only for developing village industries but also for promoting group effort by the villagers.'

Thinking of Gandhiji about usefulness of cooperative societies for villagers was quite correct. Because cooperation is the best way for ameliorating the economic condition of villages whether they are engaged in cottage industries or agriculture. Unemployed people living in villages would not only get employment but would also increase their incomes through cooperatives of cottages and other village industries after investing small capital in them, as the state governments provide financial assistance under various schemes to them (cooperatives of cottage and other village industries).

In order to generate employment and prevent migration of unemployed villagers towards cities, expansion of cooperatives of cottage and other village industries is very essential in spite of not securing success by these cooperatives as per expectations.

For expansion of cooperatives of cottage and other village industries, panchayats of the states can play an important role. Panchayats should encourage the unemployed people to organize cooperative of cottage and other village industries. Sarpanchs should make contacts with the officers related to development of cooperatives of cottage and village industries and request to them to come in the villages and tell about the importance and usefulness of cooperatives of cottage and other village industries to the people. If the people agree to organize these cooperatives, they should be guided about them.

Besides the above measures, cooperatives organised by the villagers should be helped by the officers to get the financial assistance under the various schemes being implemented by the state governments. Besides,

arrangement should be made to make the loans from the banks and raw m a t e r i a l s a v a i l a b l e t o t h e s e c o o p e r a t i v e s a s p e r t h e i r requirements.

I n t h e s t a t e s , t h o u s a n d s o f cooperatives of cottage and other village industries have been organized but due to various reasons, percentage of inactive cooperative bodies is increasing. In view of the same, it has become necessary to prepare well thought out programmmes to activate the inactive cooperatives.

T h e c e n t r a l g o v e r n m e n t i s i m p l e m e n t i n g t h e N a t i o n a l Employment Guarantee Scheme and spending crores of rupees on it through the state governments. No doubt this scheme is appreciable but due to co r rup t ion and o the r irregularities, the same is not securing the desired success. The central government should provide the

financial and other assistance to the state governments to revive the inactive cooperatives of cottage and other industries by making suitable programmes.

When these inactive cooperatives of cottage and other industries are revived, they would once again provide regular employment to a large number of village folks and prevent their migration to the cities in search of jobs. Mahatma Gandhi had also given great emphasis on cooperative farming. Some lines of his article written in the Harijan of Feb 2-1942 on cooperative farming are given her.

`We shall not derive the full benefit of agriculture, until we take to cooperative farming. Does it not stand to reason that it is for better for a hundred families in a village to cultivate their lands collectively and divide the income there from than to divide the land anyhow into a hundred portions. If farmers, who have small land holdings but do not want to cultivate on the cooperative basis in spite of knowing this fact that these holdings cannot give sufficient income then it is necessary that on the one hand their (small farmers) misunderstandings about cooperative farming may be removed and on the other hand, such programmes/schemes for joint agriculture cooperative societies may be made so as to attract small farmers towards cooperative farming.

Gram panchayats, dedicated social workers, voluntary organizations and demonstration of films made on successful joint agriculture cooperative societies before farmers having small land holdings can contribute to agree these farmers to cultivate on cooperative basis by organizing joint agriculture cooperative societies.

Sheela JaiswalAmeerpet Branch

ROLE OF COOPERATION

IN GRAM SWARAJ

OF GANDHIJI

29Depression can paralyse you, but if you achieve the balance, you emerge as a victor – Ramesh Kumar Bung.

HAPPY MOMENTS


Sri Tarun Joshi, IPS, Joint Commissioner of Police, Special Branch, Hyderabad inaugurating the Bank's Stall at 79th All India Industrial Exhibition, Hyderabad. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Rampal Attal, Vice Chairman, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO and other executives at the stall.

Sri Umesh Chand Asawa, MD & CEO and Smt. Ranjana Sharma, DGM conducting Rangoli competitions among women employees on the occasion of Sankranti. Participants in the photo.

The Union Budget has proposed setting aside Rs 70,000 crore in the cur rent f inanc ia l year towards recapitalisation of public sector banks (PSBs) with a view to boosting credit, which has been growing at around 13% year-on-year (y-o-y). Over the last couple of years, overall business growth has largely suffered as concerted efforts by banks towards clean-up of their balance sheets meant most of them ran short of capital to even meet capital adequacy norms, while raising capital from markets remained largely unviable.

“Having addressed legacy issues, public sector banks are now proposed to be further provided Rs 70,000 crore capital to boost credit for a strong impetus to the economy,” finance minister said in her Budget speech. The Nifty PSU Bank Index rose for a third consecutive session, closing up 0.2% at 3303.35, also highest since May 28.

Former State Bank of India Chairman Arundhati Bhattacharya told she believes about half the proposed infusion or about Rs 30,000 crore could be considered growth capital. Bhattacharya further added, “But I think Rs 70,000 crore is a little more than what the market was expecting. Market was expecting around Rs 50,000 crore. So, obviously they have considered some amount of growth capital, not only regulatory capital. So, that's a good thing.”

Union government approved capital infusion to the tune of Rs 48,239 crore into 12 PSBs, with a large chunk of

As the indirect tax regime of Goods and Services Tax (GST) completes two years on July 1, the government has outlined measures such as the introduction of the new returns system, single refund window, electronic invoice system, composition scheme for services and single cash ledger in the current fiscal. The Finance Ministry will mark the completion of two years of GST, with Minister of State for Finance and Corporate Affairs Anurag Thakur presiding over the event alongside key secretaries and officials of various departments, the finance ministry said in a release on 30th June, 2019.

The new returns system will be introduced on a trial basis from July 1 and on a mandatory basis from October 1. Sahaj and Sugam returns for small taxpayers are proposed, the release said. With regards to single cash ledger, the government will rationalise the ledger in such a manner that the previous 20 heads are merged into five major heads, it added. There is only one cash ledger for tax, interest, penalty, fee and others.

A single refund-disbursing mechanism will come into play wherein the government which sanctions refund disburses all four major heads of refunds namely central GST, state GST, integrated GST and cess, the ministry said. Threshold limit of Rs 40 lakh is offered of suppliers of goods as per the choice of states. Introduction of composition scheme for small service providers up to an

money allotted to banks within the Reserve Bank of India's (RBI) prompt corrective action (PCA) framework. Following an asset quality review (AQR) by RBI in 2015-16 that unearthed record levels of non-performing assets (NPAs) on bank books, the government has had to make several infusions into PSBs to help them cope with related provisioning and regulatory requirements.

In a reply to a query raised in the Lok Sabha on Jun 24, FM had said, “Over the last five financial years (FYs), PSBs have been recapitalised to the extent of Rs 3.19 lakh crore,with infusion of Rs. 2.5 lakh crore by the government and mobilisation of over Rs 66,000 crore by PSBs themselves.” The reply also contained a break-up of the capital infused in PSBs by the government, which revealed Bank of India received the largest infusion at Rs 30,399 crore, followed by Punjab National Bank at Rs 24,342 crore. Among other banks, UCO Bank received Rs 15,773 crore, Indian Overseas Bank got Rs 15,317 crore, Corporation Bank saw Rs 15,193 crore while Allahabad Bank saw Rs 14,984 crore in infusion.

Budget 2019 proposes Budget 2019 proposes Rs 70,000 crore towards Rs 70,000 crore towards

recapitalisation of recapitalisation of public sector bankspublic sector banks

Budget 2019 proposes Rs 70,000 crore towards

recapitalisation of public sector banks

annual turnover of Rs 50 lakh with a tax rate of 6 %, electronic invoicing system in a phase-wise manner for B2B (business-to-business) transactions is proposed to be introduced and GST Appellate Tribunals are being established at various state headquarters and area benches also, it further said.

GST subsumed more than a dozen central and state levies like excise duty, service tax and VAT when it was implemented on Ju ly 1 , 2017. However, i t s implementation on five petroleum products – petrol, diesel, natural gas, crude oil and aviation turbine fuel (ATF) was deferred. The government said GST has integrated India into a single common market by breaking barriers to inter-state trade and commerce.

By eliminating cascading of taxes and reducing transaction costs, it will enhance ease of doing business and provide an impetus to Make in India campaign, it added. The introduction of GST was a game changer for the Indian economy as it has replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime, it said. A book on GST for MSME will also be released.

L V S PrasadSenior Manager: Marketing

Head Office

GST: NEW RETURNS SYSTEM, SINGLE REFUND WINDOW, GST: NEW RETURNS SYSTEM, SINGLE REFUND WINDOW, E-INVOICE READY FOR ROLLOUTE-INVOICE READY FOR ROLLOUTGST: NEW RETURNS SYSTEM, SINGLE REFUND WINDOW, E-INVOICE READY FOR ROLLOUT

31Every life goes through its twists and turns – Ramesh Kumar Bung.


MAJOR EVENTS OF THE YEAR

Sri Umesh Chand Asawa, MD & CEO receiving the award of Technology Bank of the Year from Sri Sunil Mehta, Chairman, IBA & CMD, Punjab National Bank, Sri V.R. Kannan, CEO, IBA, Mumbai.

Dr. Srinivas Y, Chief Compliance, New Development Bank, Shanghai, China addressing officials of the Bank on Fin-tech Revolution. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Umesh Chand Asawa, MD & CEO and other staff members on the occasion.

01. There is village called Long Eared Ben in Norway. It is a crime according to law to die in that village. Hence, the relatives of the patient who is critically ill, take him to another village. There would be heavy snow in the village and as such, even if one is buried, the dead body would not merge in the earth. Infections are spread due to the dead bodies buried in the snow. Hence, the Government has prohibited people to die in the village.

02. Apple, Peach, Strawberry, Cherry, Almond.... these belong to the species of Rose.

03. There would be rains of diamonds now and then on the planets Saturn and Jupiter.

04. While we have around 850 muscles in our body, only the trunk of an elephant would have 40000 muscles.

05. Barbie doll's full name is Barbara Millicent Roberts. In a series of novels published by Random House in the 1960s, her parents' names are given as George and Margaret Roberts from the fictional town of Willows, Wisconsin.

06. Spiders have the capacity of preparing the toxics, gum, oil without grease and the silk in their bodies itself.

07. The housefly cannot travel/fly more than 100 yards from its place of birth.

08. When the housefly flies, generally it waves its wings 330 times per minute.

09. Plasma is a peculiar gas. In fact, it is the fourth state after solids, liquids and gases. It does not contain molecules and atoms. Only Ions and electrons are consisted in it.

10. Normally, an elephant does not run. At no time, it can jump. The formation of bones, muscles and nerves do not suit to the activities of running and hopping. However, in case it starts walking fast, even a human being cannot run equal to its speed.

11. A cow, which eats the grass in an acre of land, can give milk to the tune of a tonne.

12. In eastern America, there is a big tree called Aiyavoo. It has been surviving for the past 4000 years with flowers and fruits. Its height is 300 feet.

13. The teeth of a snail are attached to its tongue and are like a saw. It uses its tongue also when it eats and chews food.

14. 80% of the living beings in the world are creatures like insects.

15. An ordinary electric bulb can give light for 750 to 1000 hours.

16. A pilot who drives the aeroplane at the height of 7620 metres can see up to 3/2 kilometres.

17. A waiter in a coffee house in Budapest committed suicide in 1926. Police could not decipher his suicide note and struggled to read it with the help of his villages. The letter was in the form of a puzzle.

18. Cycle-Rickshaw was invented by Baptist Minister of America in 1888.

19. Madam Curie is the only woman to be awarded Nobel Prize for two times. However, she was denied of the membership in 'August French Academy' because she was a lady.

20. Banana Apple' is not made of any banana. It is made from a chemical liquid from the coal.

21. In case we bring up/rear ravens, and teach them words, they learn faster than parrots.

22. Japanese parents watch with glee as sumo wrestlers tried to reduce their babies to tears, in a centuries-old ritual believed to bring good health to bawling infants.

23. Any two British kings do not travel together in a flight at the same time. The idea behind this is, in case the flight meets with accident, at least one king should survive to rule the country.

24. Armadillos are the only living mammals that wear such shells. Closely related to anteaters and sloths, armadillos generally have a pointy or shovel-shaped snout and small eyes. They vary widely in size and colour, from the 6-inch-long, salmon-collared pink fairy armadillo to the 5-foot-long, dark-brown giant armadillo. The shells on their body are so strong that even a bullet cannot pierce them.

25. The largest word in English has 1,89,819 letters. This is after all, a name of a protein called Titin.

P. Venugopal ReddyHO: Credit

DO YOUDO YOUDO YOU

KNOWKNOWKNOW???DO YOUDO YOUDO YOU

KNOWKNOWKNOW???DO YOUDO YOUDO YOU

KNOWKNOWKNOW???

33If we have learnt a lesson from our failures, they become our teachers – Ramesh Kumar Bung.


IMPORTANT MEETS IN THE YEAR

Sri Ramesh Kumar Bung, Chairman-Emeritus along with the directors of Kerala based Cooperative Banks at ICM, Rajendranagar, Hyderabad.

Sri Ramesh Kumar Bung, Chairman-Emeritus, CA Shyam Kothari from Birla Foundation at a Training Programme conducted for employees on recovery management.

India celebrated the 50 years of bank nationalisation on 19th July. As the date nears, discussions are on over the successes and failures of the financial exercise that began the midnight of July 19, 1969. It started under the then Prime Minister Indira Gandhi with nationalisation of 14 major lenders that accounted for 85 % of bank deposits in the country at that time. Six more banks were later nationalised in 1980. The core objective for nationalisation was to energise priority sectors at a time when the large businesses dominated credit profiles.

Even though the banks lent credit, the disbursal to the rural areas and small scale borrowers was far less as compared to the industry despite the Banking Regulation Act, 1949. The loans by commercial banks to industry nearly doubled between 1951-1968 from 34 to 68 %, even as the agriculture received less than 2 %. The government of the time believed that the banks failed to support its socio-economic objectives and hence, it should increase its control over them.

Nationalised banks: The government through the Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969 and nationalised the 14 largest commercial banks on 19 July 1969. These lenders held over 80 % bank deposits in the country. Soon, the parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received presidential approval on 9 August 1969.

The banks that were nationalised included Allahabad Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank of India, Canara Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank and United Bank of India. Thereafter, in 1980, six more banks that were nationalised included Punjab and Sind Bank, Vijaya Bank, Oriental Bank of India, Corporate Bank, Andhra Bank and New Bank of India. The data shows that the nationalised banks grew at a pace of nearly 4 % closer to the average growth rate seen by the economy until the 1990s.

Bad loans: Even as the government's control have come down significantly since the period of liberalisation, the problem of bad loans has put pressure on the banks. Both government and the banking regulator RBI has come out with a host of measures to tackle the problem of non-performing assets (NPAs). In budget 2019, Finance Minister Nirmala Sitharaman has announced proposal of infusion of Rs 70,000 crore into the public sector lenders to solve their problem of liquidity.

The stigma surrounding mental health issues is said to have restricted people from seeking treatment for it. One report said that the fear of being viewed differently has resulted in a little over 55 % of Indian adults with mental illness not receiving any treatment throughout their lives. It also doesn’t help that the cost of treating mental ailments can be high.But it s not just expenses that restrict people from taking adequate treatment. In fact, India s current healthcare system is not prepared to effectively treat ailments related to mental health. Mental health experts believe that a majority of behavioural conditions in patients with mental illness need to be screened and treated early. Unfortunately, most hospitals lack the minimum amenities required for treating physical and behavioural conditions. The number of mental healthcare specialists in India, which includes behavioural professionals and psychiatrists, is also significantly low. All these factors make it very difficult for patients to obtain effective treatment.What the IRDA said: With the aim of making mental healthcare available to all, the Insurance Regulatory and Development Authority of India (IRDAI), in its exposure draft issued last year, asked mental illnesses and several other health issues to be included in all regular health insurance coverage. Under the exposure draft, IRDAI made it quite clear that insurers cannot deny coverage to policyholders who have used opioids or anti-depressants in the past. Also, insurers can t deny coverage to people with a proven history of clinical depression, personality or neurodegenerative disorders, sociopathy and psychopathy.The IRDAI also directed insurers to include puberty and menopause-related disorders as well as age-related macular problems in regular health insurance schemes. After the directions were issued, many insurers have started developing products that cater to the specific needs of people suffering from mental illnesses.Insurance products available: Two prominent insurers, Reliance Health Insurance Company and Max Bupa Health Insurance have already introduced health plans which are specifically designed for patients of mental ailments. Max Bupa’s Health Pulse Plan provides cover for treatment of mental disorders. Policy holders are covered up to the entire sum insured. A limited sub-limit is applicable on very few conditions. For now, the plan is restricted to treatment of patients residing in tier 2 and 3 cities. However, the plan will eventually cover people residing in tier 1 cities like Delhi, Kolkata, Mumbai and Chennai. Similarly, HDFC Ergo s Critical Illness Plan Platinum covers Alzheimer s disease among 15 other critical illnesses. While Max Bupa’s Health Pulse Plan is a regular health insurance cover, HDFC Ergo s Platinum plan is a fixed benefit plan.

50 years of bank 50 years of bank nationalisation: What it means, nationalisation: What it means, why banks were nationalisedwhy banks were nationalised

50 years of bank nationalisation: What it means, why banks were nationalised

Now you can buy health Now you can buy health insurance policies that also insurance policies that also cover mental healthcover mental health

Now you can buy health insurance policies that also cover mental health

35The more one fails in life, the better are the chances to learn – Ramesh Kumar Bung.


GAIETY OCCASIONS

Bank celebrated International Women's Day at its Head Office. Smt. Ranjana Sharma, DGM along with women employees at the event.

Sri V. Chakradhar Rao, Project Officer, ITDA, Warangal and Sri D. Kumara Swamy, President, Chamber of Commerce and Industry Inaugurating the new premises of Warangal Branch. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO can be seen in the photograph.

37

A slowing economy and huge expectations that the unprecedented mandate given to the government could only have meant one thing for Budget 2019 -reward the common man in rural and small-town India with enough boosters for agriculture, food and primary healthcare. And sure enough, the focus on these areas and also tax rationalisation have been the key features of the first Budget by Nirmala Sitharaman. If any optimist in the IT cities was hoping to see incentives for the sector and a new impetus to Startup India, Digital India and Make-in-India, the message is clear. Your time will come but let's get the GDP back on track first and put a smile on the face of Bharat!

In any case, not all economic activities wait for Budget incentives and there is enough to suggest that there will be full support for industries that can give the much-needed boost to livelihoods in all our cities. Manufacturing, particularly in erstwhile boom sectors such as automot ive and auto component manufactur ing has been seeing a marked deceleration in recent months and will need that much-needed boost with gradual moves to electric and autonomous that will bring in innovation as well as create new jobs.

The focus on SMEs in the Economic Survey as well as the Budget augurs well for job creation as well as an easing of labour and land policies in the future. Rightly, the larger focus has been on the rural economy and hence the services sector has been largely left to continue on its own growth path. There is reason to cheer for high-end IT solution enablers with Skills India including AI and IoT in its ambit. Entities such as the Centre for AI in Chennai and Pune and SP Robotic Works with its fast expanding network of Robotics and AI training for children can get a new impetus to their growth and communication plans.

Coming to Indian startups, the rhetoric five years ago was tremendous but the results of the first wave of Startup India have fallen short of expectations. It would be heartening if we can "do an Israel" and get a few 1000 new companies to start with adequate funding, scale to a crore-rupee of revenue in two years and aspire to be million-dollar profitable companies in 2022.

What will help in this Budget is the liberation of startups from excessive tax supervision and the benefits give to them through exemption from scrutiny of fair value, which should help in accelerating angel funding. With new opportunities opening up with 5G and Edge Computing, there is reason to believe that Indian entrepreneurs will get it right this time. The impediments are being removed and scaling of at least a 100 firms to unicorn status is not only possible but essential for the industry to progress.

The move towards a truly "Digital India" celebrated its fourth anniversary at the beginning of July and the promise of the digital economy contributing a trillion dollars out of the five trillion economy mission that we have set for 2024 is an ambitious but highly desirable goal for all of us. In the next five years, policy and budgetary focus has to be on taking digitalisation to every corner of the country, transforming education, healthcare, manufacturing, services and country-wide data management, all within an environment of robust cyber-security.

As a country, our vision has to be awe inspiring and the goals we set for ourselves worthy of the brilliant minds and entrepreneurship hunger that is available in abundance in the country. The country should invest deeply in a research and academic environment that creates more institutions of the calibre of a Cambridge or Stanford or some of the older IITs.

In addition, Centres of Excellence focused on cutting-edge technologies, design thinking and cyber-physical interfaces including IoT should be funded and encouraged in all institutions of higher learning and the government should not shy away from investing public money in high-quality private institutions, either through direct project and programme funding or through grants g iven to researchers to commercialise their ideas for the benefit of India. It will need a larger concerted effort to build an ecosystem that will deliver a steady stream of entrepreneurs and job creators in all sectors for the future!

T. GirishHO: IT

DIGITAL INDIA'S TIME IS COMINGDIGITAL INDIA'S TIME IS COMINGDIGITAL INDIA'S TIME IS COMING

When we go wrong, it is easy to blame others – Ramesh Kumar Bung.


PRIME EVENTS

Sri Raja Singh, MLA, Goshamahal, Sri M. Ramesh, IPS, Joint Commissioner of Police, East Zone, Hyderabad and Sri Shanker Yadav, Corporator, GHMC inaugurating the new premises of Siddiamber Bazar Branch. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Rampal Attal, Vice Chairman, other Directors on the Board, Sri Umesh Chand Asawa, MD & CEO participating in the inaugural function.

Sri Purshotamdas Mandhana, Chairman inaugurating training programme for Managers on Personal Effectiveness. The guest faculty, DGM (HR), and the participants in the photo.

CHANDRAYAN – 2 ABOARD GSLV TAKES OFF WITH A BILLION DREAMS

I n d i a o n 2 2 n d J u l y, 2 0 1 9 successfully launched its second lunar mission, Chandrayan-2, onboard its powerful rocket GSLV-MK III M-1 from the Satish Dhawan Space Centre (SDSC) at Sriharikota to explore the unchartered South Pole of the Moon by landing a rover. Chandrayan-2 took off on time at 2.43 PM from the spaceport on an island off the coast of Andhra Pradesh. Applauses broke out in the mission control room as the rocket blasted off into the grey skies over the Indian Ocean and mission control announced that the orbit had broken away from the rocket with no problem.

The launch came a week after a fuel leaked forced a previous attempt to be scrubbed 56 minutes before the scheduled blast off. The spacecraft is scheduled to land on the lunar South Pole on September 6 and send a rover to explore water deposits that were confirmed by a previous mission that orbited the Moon. India's first Moon mission orbited the Moon in 2008 and helped confirm the presence of water. The country plans to send its first manned spaceflight by 2022. The space craft is carrying an orbiter, a lander and a rover that will move around on the lunar surface for 14 earth days. It will take around 47 days to travel from landing on the Moon.

India put a satellite into orbit around Mars in the nation's first interplanetary mission in 2013 and 2014. It is now bidding to follow Russia, USA and China in landing a spacecraft on the Moon. The rocket carried an orbiter, a lander and a rover, and has been almost entirely designed and made in India. The 2.4 tonne (5300 pounds) orbiter is expected to circle the Moon for about a year, taking images of the surface, looking for signs of water, and studying the atmosphere. The lander will carry the rover and be placed on the surface near the lunar South Pole.

Ÿ Chandrayan-2 will go to that part of Moon where no country has ever gone before-The South Pole.

Ÿ The South Pole is interesting because the lunar

surface area that remains in shadow is much larger than that a t the Nor th . There i s a possibility of presence of water in permanently shadowed area around the South Pole.

Ÿ About Rs. 960 crore has been spent on preparation for the mission, a much smaller price tag compared with similar missions by other countries.

Chandrayaan-2, India's latest moon mission, is path-breaking in many ways. One of them is its cost effective nature. The whole mission has been planned in Rs 960 crore (140 million USD), a price that's much lesser than many Hollywood films. In fact, films such as X-Men: Dark Phoenix and Solo: A Star Wars Story was made in a budget much higher than Chandrayaan-2. While Dark Phoenix was allotted Rs 1,373 crore (approximately 200 million USD), Solo was given a budget of Rs 1,915 crore (279 million USD).

Similarly, films like Avengers Infinity War (Rs 2,169 crore or 316 million USD) and Avengers Endgame (Rs 2,443 crore or 356 million USD) were made at a much higher budget t h a n C h a n d r a y a a n - 2 . Chandrayaan-2 comes 11 years after ISRO's successful first lunar

mission Chandrayaan-1 which scripted history by making more than 3,400 orbits around the Moon and was operational for 312 days till August 29, 2009.

Billed as the most complex and prestigious mission undertaken by the ISRO since its inception, Chandrayaan-2 will make India the fourth country to soft land a rover on the lunar surface after Russia, the United States and China.

The mission, which carries a total of 13 payloads, including three from the Europe, two from the US and one Bulgaria, seeks to improve understanding of the Moon which could lead to discoveries that will benefit India and humanity as a whole. A Laser Retroreflector Array (LRA) of US space agency NASA is among the payloads and is aimed at understanding dynamics of Earth's Moon system and deriving clues on Lunar interior.

39

INDIA OVER THE MOON

Do we ever analyse where we went wrong? – Ramesh Kumar Bung.


IMPORTANT OCCURRENCES

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Rampal Attal, Vice Chairman, Sri Umesh Chand Asawa, MD & CEO handing over the certificates of achievement of premium targets to the Branch Managers under Insurance Business.

Sri Purshotamdas Mandhana, Chairman inaugurating Managers' Training Programme conducted by M/s Vibhas Consultancy at Birla Foundation. Participants in the photograph.

With the tax revenue growth tapering, the Centre will tap non-tax sources of revenue with unprecedented vigour over the next few years. According to official sources, the government has identified 60 assets - from surplus land and telecom towers to gas pipelines and railway station premises - for outright sale/leasing out to the private sector under different commercially viable models.The department of investment and public asset management (DIPAM), they added, is preparing six-seven models for monetisation of the various brown field assets with the public sector. The proceeds of monetisation from the assets directly owned by the government will boost the budget as non-debt capital receipts and these will be used only for creation of assets or repayment of debt. Simultaneously, the assets of PSUs and other government undertakings will be tapped for extra-budget capital investments.Tax-efficient real estate investment trusts (REIT) and infrastructure investment trusts (InvITs) will run the revenue-generating assets and investors could buy REIT/ InvITs units. Besides, more operational stretches of the national highways will be identified and handed over to for private investors with deep pockets under the toll-operate-transfer (TOT) model. Assets such as land and buildings of two dozen PSUs identified for strategic sale, pipelines of GAIL, transmission lines of Power Grid Corp, telecom towers of BSNL/MTNL, a few airports of Airports Authority of India, ports and railways stations are among the targe ts for the proposed 'asse t recyc l ing ' /monetisation.The under-utilised land assets with the public sector is huge. The Indian Railways, for instance, has over 47,000 hectares of 'vacant' land, and a portion of this can be used for commercial purposes (90% of the transporter's land is on the sides of tracks). The Rail Land Development Authority (RLDA), set up in 2007, has so far been given just only a tiny portion of this land scattered over cities and towns, and the monetisation has been below par. The idea is to generate some Rs 20,000 crore over the next few years via this route and use the proceeds for railway capex.Major Ports, another public-sector landlord, holds 2.58 lakh acres of land, a fifth of which is believed to be surplus, which includes prime urban land in Mumbai, Kolkata, Chennai and elsewhere. The government has recently privatised six profit-making

AAI airports based on the per passenger fee (to be paid to the AAI) criteria under the PPP model. There are over 100 functional airports in India. BSNL gets about Rs 1,100 crore per annum as rent for sharing its tower infrastructure with other telecom players. In FY18, NHAI raised Rs 9,681 crore in the first TOT tranche and more such tranches are in the pipeline."If the plans materialises, a lot of money can be realised from locked-up assets. Foreign funds don't want to take project risks and prefer to invest in brown field assets," an official aware of the plan said. While the Centre would retain 100% of the proceeds from monetisation of non-core assets of units identified for strategic sale and enemy properties, it could share a large chunk of the proceeds from other deals with CPSEs for their capex or to use these to repay debt. The revenue from asset monetisation will likely be modest in FY20 as the process for large-scale use of this route might take time. According to the guidelines issues by DIPAM in this regard, state-run companies will have 12 months to monetise non-core assets identified by a ministerial panel headed by the finance minister. Non-compliance would invite penalties such as reduction in performance related pay to the staff of CPSEs and blocking of budgetary support to such entities.The asset monetisation policy could also be tapped to use defence land for commercial purposes like in the US and Canada, the sources added.

FAMILY SILVER: GOVT CHALKS OUT GRAND PLAN TO MONETISE ASSETS

41

Every organisation has its share of winners and also-rans. The success of leadership lies in ensuring that the winners outrun the also-rans. While a few cannot carry the load of many, many can always make up for the few.

UMESH CHAND ASAWA

Children must be taught ‘how to think’, not ‘what to think’ – Ramesh Kumar Bung.

01. Friend: I heard that they have introduced digital system in the marriage hall, is it? Tunku: Yes, after you give gift to the newly wedded couple, you will receive OTP in your mobile. If you show that, you will be served with food.

02. A Russian lady visited India. As she was suffering from ophthalmological problem, she went to an eye specialist. The doctor showed her a board on which it was written 'CZWXYNQSTAZKY' and asked her to read the same. She said: 'What is this? I pretty well know that this is my husband's name'.

03. On one wedding anniversary, Tunku presented his wife with a diamond necklace. After that, for another six months, she did not speak to Tunku. That was his condition before giving her the gift.

04. New paper said to the currency note: 'Don't be proud of yourself. You are also just a paper like me'. The currency note replied: 'May be. But I have never seen how a dustbin would be'.

05. Tunku was taking his girl friend in Honda City Car. On the way he said to her: 'Darling. I have to tell you one thing. I am already married. I have two children also'. The girl friend responded: 'Is it so? I was very much worried that you would say that this car does not belong to you'.

06. A: I have the perfect son. B: Does he smoke? A: No, he doesn't. B: Does he drink whiskey? A: No, he doesn't. B: Does he ever come home late? A: No, he doesn't. B: I guess you really do have the perfect son. How old is he? A: He will be six months old next Wednesday.

07. Girl: You would be a good dancer except for two things. Boy: What are the two things? Girl: Your feet.

08. A family of mice were surprised by a big cat. Father Mouse jumped and said, "Bow-wow!" The cat ran away. "What was that, Father?" asked Baby Mouse. "Well, son, that's why it's important to learn a second language."

09. My friend said he knew a man with a wooden leg named Smith. So I asked him "What was the name of his other leg?"

10. The doctor to the patient: 'You are very sick'. The patient to the doctor: 'Can I get a second opinion?' The doctor again: 'Yes, you are very ugly too...'

11. A man goes to the doctor and says, "Doctor, wherever I touch, it hurts." The doctor asks, "What do you mean?" The man says, "When I touch my shoulder, it really hurts. If I touch my knee - OUCH! When I touch my forehead, it really, really hurts." The doctor says, "I know what's wrong with you - you've broken your finger!"

12. Patient: Doctor! You've got to help me! Nobody ever listens to me. No one ever pays any attention to what I have to say. Doctor: Next please!

13. Two boys were arguing when the teacher entered the room. The teacher says, "Why are you arguing?" One boy answers, "We found a 10 Rs. note and decided to give it to whoever tells the biggest lie." "You should be ashamed of yourselves," said the teacher, "When I was your age I didn't even know what a lie was." The boys gave the ten Rs. note to the teacher.

14. A: Just look at that young person with the short hair and blue jeans. Is it a boy or a girl? B: It's a girl. She's my daughter. A: Oh, I'm sorry, sir. I didn't know that you were her father. B: I'm not. I'm her mother.

15. Mother: "Did you enjoy your first day at school?" Girl: "First day? Do you mean I have to go back tomorrow?

16. Headmaster: I've had complaints about you, Tunku, from all your teachers. What have you been doing? Tunku: Nothing, sir. Headmaster: Exactly.

17. A: Hey, man! Please call me a taxi. B: Yes, sir. You are a taxi.

18. A: Why are you crying? B: The elephant is dead. A: Was he your pet? B: No, but I'm the one who must dig his grave.

19. A teenage girl had been talking on the phone for about half an hour, and then she hung up. "Wow!," said her father, "That was short. You usually talk for two hours. What happened?"

42

CORNERCORNERCORNERCORNERCORNER

A good hobby can bring so much joy and meaning to one’s life – Ramesh Kumar Bung.

"Wrong number," replied the girl.

20. PUPIL: "Would you punish me for something I didn`t do?" TEACHER:" Of course not." PUPIL: "Good, because I haven`t done my homework."

21. A teacher asked a student to write 55. Student asked: How? Teacher: Write 5 and beside it another 5! The student wrote 5 and stopped. Teacher: What are you waiting for? Student: I don't know which side to write the other 5!

22. Little Johnny: Teacher, can I go to the bathroom? Teacher: Little Johnny, MAY I go to the bathroom? Little Johnny: But I asked first!

23. Son: Dad, what is an idiot? Dad: An idiot is a person who tries to explain his ideas in such a strange and long way that another person who is listening to him can't understand him. Do you understand me? Son: No.

24. Man: I could go to the end of the world for you. Woman: Yes, but would you stay there? Man: I offer you myself. Woman: I am sorry I never accept cheap gifts.

25. Man: I want to share everything with you. Woman: Let's start from your bank account.

26. Teacher: Why are you late? Student: There was a man who los t a hundred rupee note. Teacher: That's nice. Were you helping him look for it? Student: No. I was standing on it.

27. Customer: Excuse me, but I saw your thumb in my soup when you were carrying it. Waitress: Oh, that's okay. The soup isn't hot.

28. Bank Teller: How do you like the money? Student: I like it very much.

29. The teacher to a student: Conjugate the verb "to walk" in simple present. The student: I walk. You walk ....The teacher interrupts him: Quicker please. The student: I run. You run ...

30. Father: What did you do today to help your mother? Son: I dried the dishes. Daughter: And I helped pick up the pieces.

31. A: Why are all those people running? B: They are running a race to get a cup. A: Who will get the cup? B: The person who wins. A: Then why are all the others running?

32. One Said to a railroad engineer: What's the use of having a train schedule if the trains are always late? The reply from the railroad engineer: How would we know they were late, if we didn't have a

schedule?

33. A: When I stand on my head the blood rushes to my head, but when I stand on my feet the blood doesn't rush to my feet. Why is this? B: It's because your feet aren't empty.

34. Teacher: Did your father help you with your homework? Student: No, he did it all by himself.

35. Teacher: What are some products of the West Indies? Student: I don't know. Teacher: Of course, you do. Where do you get sugar from? Student: We borrow it from our neighbour.

36. On a crowded bus, one man noticed that another man had his eyes closed. "What's the matter? Are you sick?" he asked. "No, I'm okay. It's just that I hate to see old ladies standing."

37. A nervous old lady on a bus was made even more nervous by the fact that the driver periodically took his arm out of the window. When she couldn't stand it any longer, she tapped him on the shoulder and whispered on his ear: "Young man...you keep both hands on the wheel...I'll tell you when it's raining!"

38. Tunku was going through a desert. He's wearing shorts, sunglasses, a towel and listening to music on his walkman. He's having a good time. Suddenly he sees a caravan approaching. He stops the Arabs and asks them cheerfully: "Hey dudes how far the sea is?" They look at each other and say: "Two thousand miles!" And Tunku says: "Wow what a cool beach!!!”

S. VivekHO: PBD

43

Whether you see a deprivation or an opportunity. Simply depends on the direction of your intelligence. See what no one is seeing. Think beyond. Go beyond.Build a legacy.

UMESH CHAND ASAWA

Never define a child by the academic scores, as grades and ranks are not the real assessment of a potential – Ramesh Kumar Bung.

Generally speaking, ethics means the ability to understand what is right and what is not right. It draws a clear line and enables a businessman or a professional to thrive with respect and deliver a high quality of service by adopting fair means to conducting business, complying with all applicable laws, rules and regulations and setting a model of good Corporate Governance.

In the Indian context, only a few business houses have actually showed a very high level of professional conduct or ethics. It is said that most businessmen in India think that they act ethically but most people do not draw a clear line between ethics and unprofessional conduct. It is, therefore, pertinent to define business ethics clearly.

Ethics and Morals: Both management students and practising managers have been no different in their understanding of ethics than a common man when it comes to confusing ethics with morals. T h e s e w o r d s h a v e o f t e n b e e n u s e d interchangeably even in management books. Both ethics and morals define a set of do's and don'ts, yet they are different in terms of their origin and use.

As a human being, we do certain acts that give us happiness but may add to the unhappiness of others. Such acts are generally tabulated under the list of don'ts. In other words, certain acts that add happiness to one self without affecting the peace of mind or happiness of others would be termed as ethical.

Moral values are a set of do's and don'ts that are inculcated in a person from his childhood. They are different for different societies depending upon culture, religion, living environment etc., They are communicated and imbibed by one's mother, school, family and local norms of behaviour. For instance, A Jain may start selling meat and non-vegetarian items thinking these products are high in protein etc., but not necessarily start eating these products. Such behaviour may be termed ethically correct but immoral for some people. In other

words, morals are culture-specific and differ for people living in the same society also.

Ethics with applicable Laws: Apart from ethics and morals that lay down a list of do's and don'ts, laws also tell us what to do and what not to do. When a society wants a certain set of moral or ethical values to be legally enforced so that their violation is a punishable offence, they are enacted as laws. In another case, say an act of a factory owner bribing the pollution control inspector or authority is a punishable offence as per the applicable laws in India. But a society may perceive it differently. Therefore, India should resolve the issue of ethical correctness at national, state and city/village levels.

Ethics in Business or Profession: Ratan Tata, former chairman of the Tata Group once remarked, 'if you choose not to participate in corruption, you leave behind a fair amount of business'. This is how ethics had been defined by the renowned businessman. We know how foreign countries view India as a prospective land, where they can get more out of their business due to low input costs, easy access to cheap labour and huge consumer base, crazy for foreign brands in the retail sector as well.

At the same time, a lot has been said about business functions and how it is characterised by red tape, delay in getting approvals from the authorities, corruption, stringent rules and regulations etc., So much so that India was ranked 100 out of 190 countries in year 2017 for the ease of doing business. Transparency International, a global civil society organisation leading fight against corruption, ranks India on the 81stg position amongst 180 countries. Ernst and Young Survey reveal that 78% of the Indian respondents view that bribery and corrupt practices occur widely.

Considering the fact that India is being viewed as a prospective land for investments by foreign institutional investors, the authorities have to ensure the good corporate governance that has been talked about, should also be implemented with equal vigour and enthusiasm, not merely to ensure compliance or complete paper work but to be more apt.

CS Suman HedaProfessional Director

ETHICS THE NEW WAY OF BUSINESS

44 The imperfections of the world allow us to grow and appreciate the things around us – Ramesh Kumar Bung.

THE STORY OF HERON, BLACK SNAKE AND

THE MUNGOOSE

In a jungle, there was a banyan tree. A number of herons had built their nests in it. Now, in the hollow of the tree lived a black snake. He used to eat up the heron's young, before their wings had sprouted. One heron, whose children had been eaten by the snake, came to the bank of the river Saraswati with tears in his eyes.

A crab saw him and asked, 'Uncle! Why are you crying?' The heron said: 'What can I do? I am so unlucky that all my children have been eaten up by the black snake, which lives in the hollow of the tree. I am crying because I am heart-broken. Tell me, how could I kill the black snake?' Now, when the crab heard this, he thought to himself, 'This heron is a natural enemy of our species. What I will do is telling him truth and lies in such a way that all the other herons will be completely destroyed'.

And so, the crab said to the heron, 'Uncle! If this is the case, then scatter some bits of fish and mutton from the burrow of the mongoose to the snake's hole, so that the mongoose will follow the food, reach the snake's hole and kill him'. The heron listened to the crab's advice and did as he had told him to. As the crab had anticipated, the mongoose followed the trail of fish and mutton, reached the snake's hole and killed him. But unfortunately, in due course, the mongoose also killed off all the herons living on the top of the tree as well.

THE STORY OF THE IRON BALANCE AND THE MERCHANT'S SON

In a certain town, there lived a merchant's son by the name of Jeevanadhana. Because he had lost all his money, he made up his mind to leave that part of the country and go somewhere else. In his house, the merchant's son had a very heavy iron balance that he had inherited from his forefathers. He deposited this with another merchant and then left for a different part of the country.

When he had travelled all over the country to his heart's content, Jeevanadhana returned to his own town, went to the merchant's house and said, 'Ho! Merchant! Please return the balance that I deposited with you'. The merchant said, 'But, brother, I no longer have it. The rats ate it'. Jeevanadhana said, 'Merchant, if that is the case, then it is not your fault. Life is like that, nothing lasts forever. Anyway, I am going to the river for a bath.

Please let your son Dhanadeva come with me to carry the things and look after them'.

Now the merchant was afraid that the bath things might be stolen, so he said to his son, 'My son! Here is your uncle. He is going to the river for a bath. Go along with him and carry the things that he needs'. And so, the merchant's son gladly accompanied Jeevanadhana to the river and carried his bath things. When he had taken his bath, Jeevanadhana caught hold of the merchant's son and threw him into a cave near the river bank. He then closed the entrance with a big rock and returned quickly to the merchant's house.

When the merchant saw him coming back alone, he cried, 'Where is my son who went with you to the river?' Jeevanadhan replied: 'I am very sorry. But as he was standing, on the bank of the river, a flamingo swept down, picked him up and flew off with him'. The merchant shouted: 'You liar! How could a flamingo fly off with a child? I shall complain against you in the royal court'. Jeevanadhana retorted: 'Speaker of a truth, just as a flamingo cannot fly off with a child, so too rats cannot eat away a heavy iron balance. Give me back my balance and I will return you son'.

Quarrelling like this, they went to the royal court. The merchant began to shout, 'It is disgraceful. This thief has kidnapped my son'. The judges said to Jeevanadhana, 'Return the merchant's son to him'. He replied: 'What can I do? While the child was standing on the river bank, a flamingo swept down, picked him up and flew off with him'. The judges said, 'You are not telling the truth. How could be a flamingo ever fly off with a child?'

Jeevanadhana replied: 'Please listen! Where rats can eat away a heavy iron balance, undoubtedly a flamingo can fly off with a child!' 'What do you mean?' asked the judges. And then Jeevanadhana told them the whole story from the beginning to end, and the judges burst out laughing. In the due course they were reconciled, Jeevanadhana and the merchant. Jeevanadhna got back his balance and the merchant his son. The judges were content.

THE STORY OF THE KING AND THE FOOLISH MONKEY

A certain king had a petty monkey. He was allowed to enter the king's palace, even when other confidential servants were forbidden to. One day the king was fast asleep and the monkey was fanning him. Suddenly, a fly came and sat on the king's chest. The monkey drove her away with the fan, but the fly kept coming back to the same place. The foolish monkey got excited, picked up a sword and hit at the fly with it. The fly flew away but the king was severely wounded in the chest and died as a result.

T. Gangadhar Rao

Head Office

PANCHATANTRA

45The higher you go, be ready to play solo! – Ramesh Kumar Bung.

46

Vedic scriptures nowhere support meat eating. Sayan and Mahidhara in middle ages wrongly interpreted the Vedas in support of meat eating. The western indologists like Maxmuller/Griffith copied it blindly to defame Vedas. There are many evidences from the Vedas which proves that the ancient scripture never supports any violence in form of Animal Sacrifice or meat eating.

Vedas against Animal Sacrifice: Look on all (Humans as well as Animals) with the eye of a friend (Yajur Veda). Friend to all should the Arya be! Friend to all! Sure he cannot destroy the life of any. Therefore he is ordered in the sacred scriptures. (Yajur Veda 42-49).” Thou shalt not kill the horse; thou shalt not kill the cow; thou shalt not kill the sheep or goat; thou shalt not kill the bipeds; oh man! Protect the gregarious deer; kill not the milch or otherwise useful animals.” Elsewhere the scripture says: “They that trouble others for the sake of their own good are Rakshas (monsters) and they that eat the flesh of birds and beasts are Pishachas (devils) (Yajur Veda 34-51).

For flesh-eating, drinking, gambling and adultery, all, destroy and mar the mental faculties of a man (Atharva Veda VI.7-70-71). They are sinners as eat raw or cooked flesh or eggs go to destruction. (Atharva Veda VIII.2-26-23). The Vedas considers the protection of animals to be a very sacred act—so, so very sacred that it lays down that a husband should solemnly ask his wife on the occasion of marriage “to be kind to animals and to try to protect the happiness of all bipeds and quadrupeds.” In return the husband promises to do the same. Further the Vedas lays down that they who kill men or slay cows should be outlawed and ostracized (Rig Veda I.16-114).

We must also learn about the meaning of word Yajna. Yajna is defined as “the association of men and concentration of powers for social happiness, conquest over nature or enemy (of one's county or humanity); promotion of the well-being of society; the propagation and dissemination of enlightened principles; the maintenance of national self-respect; the increase of national glory; and the cultivation of acts of peace and war. It may also be added that Yajna also means such concentrated effort as secures man spiritual advancement and salvation. That the word Yajna was used in the above sense by the Vedic Aryas may be established by referring to certain well-known practices of the Rishis.

The Ashwamedha—Horse Sacrifice: A great mischief has been caused by the misinterpretation of this Yajna.

To understand the true significance of this Yajna we must understand what Ashwa is. As it is usually with the Vedic words, this word has a great number of meanings. Aurovindo Ghosh has emphasized the fact that the Vedic roots have various meanings. In supporting his position he has referred to the words 'Chandra' and 'Gau'. Ashwa according to the Shatapatha Brahmana (XIII.3.3) means God. Taking hold of this meaning we can without the least hesitation say that Ashwamedha has spiritual significance. Ashwa means horse as well as all such physical forces which can enable us to move quickly. In another place we read Ashwa, the Agni (heat) carries, like the animals of conveyance, the learned who recognize its distance-carrying properties (Rig Veda 1.27-1). This idea is also supported by Shatapatha (III.3.29-30). On this principle Pt. Gurudatta translates the hymn of the Rig Veda. His translation of the opening verse is as under:

“We will describe the power generating virtues of the energetic horses endowed with brilliant properties or the virtues of the vigorous force of heat which learned or scientific men can evoke to work for purposes of appliances (not sacrifice). Let not philanthropists, noble men, judges, learned men, rulers, wise men and practical mechanics ever disregard these properties.” Ashwamedha also refers to polity. Political wisdom should so pervade the notion as Ashwa (God) pervades the universe. This is supported by the Shatapatha in the following words: “A king administers justice to his subjects, governs them properly, encourages learning among them, and performs homa by throwing the samagri (odoriferous mater ia ls) , c lar i f ied butter in f i re. This is Ashwamedha.”

On this principle the great Swami Dayanand Saraswati translates the 23rd chapter of the Yajur Veda. The learned writer strengthens his position by quoting [Rig Veda] i.21, Shatapatha XIII.2.12.14-17, XIII.1.3.2, 2.6.15-17 and also XIII.2.2.4-5 and several other authorities. The greatest argument in favor of this translation is that in it there is nothing immoral, obscene and disgusting as is to be seen in the sacrificial translation. The Mimansis—our great authority on interpretation—say that we must always take for granted that the teaching of the Rishis are always reasonable and rational.

The Gomedha—Cow-Sacrifice: It is a well-known fact that from ages immemorial the Hindus have been looking upon the cow as a sacred animal, so much so

VEDAS NOWHERE SUPPORT MEAT EATING – HERE ARE EVIDENCESVEDAS NOWHERE SUPPORT MEAT EATING – HERE ARE EVIDENCESVEDAS NOWHERE SUPPORT MEAT EATING – HERE ARE EVIDENCES

What is the purpose of life? – To be of help to others – Ramesh Kumar Bung.

SALAM HYDERABADKING KOTI

The localities of Hyderabad have the best tales to share with the readers and they create the best experiences to the people residing in the city and the people who read them. With a few being known to the public, there are many others which are not known to many of them. The localities have come a long way keeping up the names and their aura till date. There may not be any strong standing evidences to prove them, but these tales have played a very prominent role in building the history of the age old city. King Koti is one of such localities which till date upkeeps the name and the evidences for the enthusiasts. King Koti is one of the famous localities in the city of Hyderabad which has great relation with the rulers and has been a witness to the royal times of the city. The place has evolved over the times from where the royalty resided and where common people have their commercial establishments. It has become a hub for students who visit the place for books. The place did not acquire its name in the most different way. It was very common in those days to attain names of the rulers as names of the localities, but it is a tale with a twist. The place attained its name from the rulers, but from another noble named Kamal Khan who constructed the palace. It was during one of the seventh Nizam Mir Osman Ali Khan visit, he liked the palace and it was given to him as nazarana (gift) which was a tradition during olden days. The place had the noble Kamal Khan initials 'KK' engraved on the walls, doors and windows. It was once the Nizam shifted to the place, the locality was named as King Koti which would sync with the initials. There is another story which is also quite popular among old Hyderabadis. It says the seventh Nizam has constructed his palace for the women courtesans and which is why the palace was known as Koti and as it was owned by the great rulers, it came to be known as Kings Koti which later became the name of the locality. There is no strong evidence proving the point as it was always known as the residence of the last Nizam and the purdah gate which till date exists is, has a prominent place in the history of Hyderabad.

Purshotamdas Mandhana

47

that they call it their 'Mata' (mother). One cannot conceive how this people could have ever offered their most sacred animal to fiendish gods. But the priests and orientalists say so; and for their statement they find support in the Shastras. As in the case of Ashwamedha so also here their dogmatism is founded in ignorance of the true significance of the words, 'Go' and 'Gomedha.' Gomedha Yajna, therefore, is the method of improving, controlling and purifying speech. Go means earth. This meaning is also given in Nirukta. It also can be seen in such English compounds as Geography, Geometry, Geology, etc. (the hard sound being changed up soft one). Therefore Gomedha means cultivation and purification of earths.

Go means ray of light. This would make Gomedha, a science which teaches us the proper use of the rays of the sun and moon. This meaning of Go is clear from Gotaw which is another word for the moon (Chandra). Go means a sense. This meaning can be seen in the Sanskrit word Go char, which means the range or object of our senses. With this meaning Gomedha becomes an attempt or effort to control one's senses.

That the above meanings are the real ones is proved by the following passage of the Shatapatha Brahmana as given by Swami Dayanand: “Gomedha means control of senses, purification of the days of light, of earth, dwelling place, etc.” The same Brahman calls speech a Yajna (III.r.) That Gomedha cannot mean cow sacrifice could be established by referring to:

(i) Shatapatha (III.1.2.21) wherein it is said that he that eats the flesh of a cow or an ox is destroyer of all.

(ii) Rig Veda (1.16.5-40) and Atharva Veda (IX.5.10.5) says cow is called Aghanya (that which should not be killed).

(iii) Nighantu (1-8) wherein a Yajna is said to be Adhvara or such act as does not permit any kind of injury.

Thus, it's clear by the evidences from Vedas as well as related texts that Vedas do not support animal sacrifice in any way. Well, then, may it be said that the practice of killing before God and in His name His own creatures being against Ahimsa is decidedly irreligious!

Ajeet Kumar Varma

Deputy General Manager

Don’t worry about tomorrow; the present moment is all you have – Ramesh Kumar Bung.

BANK CONDUCTS SPORTS & GAMES, CULTURAL EVENTS FOR ITS STAFF

Sri Ramesh Kumar Bung Chairman - Emiretus along with Divya Malika, Adjudicator and singing participants.

48 What the world needs today, more than anything else, is people who can think – Ramesh Kumar Bung.

49

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman - Emeritus by lighting the lamp at the inaugural event of various sports and games held at Sports Coaching Foundation, Masabtank, Hyderabad. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman - Emeritus and all the pariticipants playing sports & games can be seen in the photo.

Thought leadership will determine your position in the new world – Ramesh Kumar Bung.

50

EAT TO THE FULLEAT TO THE FULLEAT TO THE FULLI gave my daughter Kamala, in wedding to a smart guy

named Ravi in the nearby city. The boy is engaged in

his own business and has lot of time to spare to look

after my daughter's welfare. Kamala was very slim and

beautiful. After marriage, my daughter left me for the

city to lead the family life with her husband. Very

soon, all the required paraphernalia has been

purchased by the couple. The basic necessities like

mixer, grinder, refrigerator and washing machine were

provided by us as gifts to them after marriage.

Kamala was very happy that she had to prepare food

for husband, Ravi. The first day of commencement of

cooking was incidentally Sunday and Ravi was at

home only. When Kamala entered the kitchen and

started preparation of something to eat, Ravi entered.

He enquired whether she was trying to prepare for

lunch. She replied that she has a thought of making

Sambar. Then he enquired about the ingredients to be

added in Sambar and the way to make the same.

Kamala explained the way. But Ravi was not satisfied.

He went on narrating the recipe: 'I know the art of

cooking. Lentils form the base of sambar. Usually it's

made with toor dal but can also be made by mixing

moong and toor dal or masoor and toor dal. You can

cook the dal either in a stove top pressure cooker or

Instant Pot. A number of vegetables are traditionally

used in sambar like pearl onion, tomatoes, pumpkin,

eggplant, drumstick, carrots, okra etc. Using different

vegetables makes the sambar flavourful. I use tomato,

drumstick, eggplant and carrots. You can add more

veggies as you like. Always remember not to overcook

the veggies for your sambar. They should hold their

shape and not become mushy', he went on

explaining. Kamala followed her husband's

instructions and prepared rice and sambar. Ravi

wanted Papads to be fried to add in the side for

munching.

The entire cooking programme took more than one

hour's time and the couple had a sumptuous lunch.

The food was very tasty as Ravi wanted to add butter

and pickle in the plate. They had chapattis fried with

ghee for dinner along with very spicy curries. The

lunch was highly palatable and sumptuous. From the

next day onwards, Ravi assisted Kamala, giving her

suggestions and advices to prepare dishes

appetizingly. Both for lunch and dinner, he used to

assist her in making food items deliciously. No need to

mention about holidays. He struggled hard to make

items specially to eat at leisure which were delectable,

flavourful, luscious, sapid, savoury, scrumptious and

tasty. These food episodes continued on a daily basis

for a long time.

Very soon Kamala understood that Ravi was a glutton,

a voracious eater, gannet, gobbler, gorger and a

gourmand. Though she was compelled to eat food to

the fullest extent, she too enjoyed food prepared

under his directions and encouragement. They have

prepared a variety of items like Rajma, Chole, Dal

Makhani, Baigan ka Barta, Matar Paneer, Malai Kofta,

Alu Gobi and so on and enjoyed them by eating up to

the brim. Several serials went on like this.

A year passed by. One day an auto stopped in front of

our door. A sizeable female personality like a small

elephant has got down from the vehicle with great

difficulty, paid the fare and came walking towards me.

I could not initially recognise the huge sized guest

coming towards our doorstep. Finally I could make

her out. She was undoubtedly Kamala, my daughter.

She came, embraced me and cried. While weeping

she said: 'Mummy, I don't want to go back to Ravi's

house; if I go back, I will grow like a mountain. Now I

am only an elephant'.

Y. Uma PrasannaCharminar Branch

Learn how to expand your thinking – Ramesh Kumar Bung.

51

TRY THESE 6 SIMPLE EXERCISES THAT CAN HELP YOU LOSE WEIGHT

Weight loss is currently one of the hottest topics

around the world. Everyone wants to get slimmer and

leaner. A majority of people believe that dieting and

healthy eating can provide them with the desired

results, which is not entirely wrong. However, in

addition to a healthy food intake, one must exercise

regularly, which will help them achieve the desired

results.

Having said that, most of us tend to have a tight or

busy schedule which restricts us from hitting the gym.

So if you are unable to spend time at the gym then

there is a solution for you all. Here's a list of 6 exercises

which will not take more than 30 minutes of your time.

You can practice them with ease at your home in order

to stay fit and healthy.

1. Jumping Jacks and Side Lunges: Jumping Jacks

are one of the most common exercises that involve full

body stretching and they are good for bone health,

reduces stress and also aids in muscle growth. On the

other hand, side lunges help to tone thighs. It also

works for hips, glutes, quadriceps, and hamstrings

among others.

2. Squats and Jog in Place: Squats involve

quadriceps, hamstrings, and calves and help in the

muscle building, as per experts. Jogging in place, at a

fast pace helps in burning a lot of calories too.

3. Burpees and Lunges: Burpee is an intense workout

As Shahid Kapoor's 'Kabir Singh', which is a remake of a Telugu movie 'Arjun Reddy', hits the screens, let's look at some of the prominent Bollywood blockbusters which were remakes of South movies.

01. Ram Aur Shyam (1967) : Remake of Ramudu Bheemudu (Telugu)

02. Biwi No.1 (1999) : Remake of Sathi Leelavathi (Tamil)

03. Hera Pheri (2000) : Remake of Ramji Rao Speaking (Malyalam)

04. Tere Naam (2003) : Remake of Sethu (Tamil)

05. Garam Masala (2005) : Remake of Boeing Boeing (Malyalam)

06. Bhool Bhulaiya (2007) : Remake of Manichitrathazhu (Malyalam)

07. Ghajini (2008) : Remake of Ghajini (Tamil)

08. Wanted (2009) : Remake of Pokkiri (Telugu)

09. Bodyguard (2011) : Remake of Bodyguard (Malyalam)

10. Singham (2011) : Remake of Singham (Tamil)

Amith Kumar Bajpayee, HO: PBD

which burns a ton of calories. And lunges is one of the

popular body weight exercises that work on hips,

glutes, quads, hamstrings, and core among others.

4. Jump Rope and Mountain Climbers: Skipping is

one of the common cardio and effective fat burning

exercises. On the other hand, mountain climbers

which are a compound exercise work on many muscle

groups and joints. It not only promotes fitness but also

helps to promote heart health.

5. Side Kicks and Lunge kicks: Kick based workouts

mostly work on lower body's muscle groups and cores.

If you want to tone your butt then these two are best

exercises.

6. March in place and Planks: Planks are one of the

core strengthening exercises and it also helps to lose

calories. Marching in place targets many parts of the

body including glutes, hamstrings, quads, calves and

core among others.

Practise every exercise for two minutes each.

Repeating all the six workouts twice and taking a thirty

seconds gap between each exercise is the key to have

healthy and fit body. Swearing upon this workout

routine, along with healthy eating or dieting will help

you lose weight.

G. Nanda KumarHO: HRD

BOLLYWOOD BLOCKBUSTERS WHICH WERE BOLLYWOOD BLOCKBUSTERS WHICH WERE REMAKES OF SOUTH MOVIESREMAKES OF SOUTH MOVIESBOLLYWOOD BLOCKBUSTERS WHICH WERE REMAKES OF SOUTH MOVIES

Learn how to get others to expand their thinking – Ramesh Kumar Bung.

52

As large swathes of India reel under the assault of heavy

rainfall, we provide you with some tips on driving in the

monsoon. Follow these guidelines and be safe:

1. Drive slow: Reduce your speed by half and maintain

at least a 10-second distance between you and the next

car. Maintain an even bigger distance from trucks and

buses.

2. Avoid sudden actions: Jerky braking and sudden

steering inputs can be dangerous as, due to rain, the

roads become slippery and offer fewer grips.

3. Turn on your headlights: This is important as

visibility is less and you need to alert other road users of

your presence. However, avoid using the high beam

and blinding others.

4. Avoid hazards: If you see a large puddle, avoid

driving through it and try driving it via the edges or try

to avoid it. Even if you are in an SUV with good wading

depth, avoid it as you are not sure how deep it is.

5. Drive gingerly: If you are crossing a large puddle slow

down and drive gingerly. Maintain speed and avoid

getting in neutral if you are in a manual car. Maintain

rpm/gear in a steady way. Ideally, keep the engine revs

up to avoid water coming in via the exhaust.

6. Maintain a clean windscreen: Use vipers and to defog

your car windows set your AC at the least cool setting.

Also turn off the recirculation feature.

7. Avoid running water: If you see running water, avoid

driving through it and also completely avoid more than

four inches of moving water.

8. Exercise caution while braking: If you emerge from

crossing through water, first dry the brakes by using

them gently and then use them with force, if required.

9. Don't panic: If your car stops, do not panic and don't

open the bonnet. Instead, lock the car and walk away to

a safe spot first.

10. Be careful with the electronics: Modern cars are

tested in extreme weather but water is the biggest

enemy as the electrical system can go haywire. Thus, as

a thumb rule, avoid any water contact.

Padma Vijay KumarRoad No: 12, Banjara Hills Branch

TIPS FOR DRIVING TIPS FOR DRIVING IN HEAVY RAININ HEAVY RAINTIPS FOR DRIVING IN HEAVY RAIN

FAMOUS FIRSTS01. Bachendri Pal: Holds the record of being the first

Indian Woman to reach the summit of Mount Everest (1984). She has won number of awards for her contribution, including the Padma Shri and the National Adventure Award.

02. Deepa Malik: She is the India's first female para-athlete to win a medal at the Paralympics (Rio 2016, shot put). She is also an established javelin thrower, open-water swimmer and a car rallyist.

03. Aditi Pant: She is a renowned oceanographer and the first Indian woman to reach Antarctica. She is a recipient of the Antarctica Award given by the Govenment of India for her contribution to the programme.

04. Captain Radhika Menon: She is India's first female merchant navy captain and the winner of the award 'Exceptional Bravery at Sea' (2016) in s t i t u ted by the In te r na t iona l Mar ine Organisation.

05. Diana Edulji: She was the first ODI captain of the first ever women's cricket team in India. She holds the record for delivering the most number of balls by any woman cricketer in test history.

06. Bula Chowdhury: She is the first woman to swim across sea channel of five countries – the Strait of Gibraltar, the Tyrrhenian Sea, Cook Strait, Toroneos Gulf, the Catalina Channel and from the Three Anchor Bay to Robben Island.

07. Dr. Asha Pande: She is the first Indian woman to receive the Legion of d' honneur (2010). She is most noted for promoting French language in India.

08. Chitra Ramakrishna: She is the first woman managing director and the Chief Executive Officer of the National Stock Exchange. She is regarded as one of the top business leaders in the world.

09. P V Sindhu: She is the first Indian female badminton player to win an Olympic silver medal (2016). Her awards include Rajiv Gandhi Khel Ratna, Padma Shri and the Arjuna Award.

10. Dipa Karmakar: She is the first Indian female gymnast ever to compete in the Olympics (Rio 2016). She is a recipient of Padma Shri and Rajiv Gandhi Khel Ratna.

11. Neeru Chadha: She is an eminent lawyer and the first Indian woman to be appointed as a judge at the International Tribunal for the Law of the Sea (ITLOS) for a nine year term (2017-26).

12. Tessy Thomas: She is the first woman scientist to head a missile project in India. She played key role in many strategies projects including Agni-V and is a recipient of the Lal Bahadur Shastri National Award.

Govind Verma

HO : Marketing

When we are ready to learn, the teacher appears – Ramesh Kumar Bung.

53

Time is a valuable resource and your attitude to it and the way you use it means the difference between success and failure, fitness and poor health, peace of mind and anxiety or depression. What is time management? There are two sides of better time management: things we wish to do and things we wish to avoid doing.

Some people use time just like any other resource. The best time managers are those that have developed a sense of different kind of time. The way you manage your time reflects your attitude to life in general. Accepting that you are in charge of your life and taking responsibility for the way you use your time is the first step to a constructive attitude. One thing is sure – when you begin to manage your time better, you will soon notice major improvements in other aspects of your life.

GETTING YOUR PRIORITIES RIGHT: Few people set out on a journey without knowing where they are heading. They drift aimlessly at home, at work or at doing business not achieving anything. We spend our life dealing with crises and problems, respond to the pressure that others put on us, do things out of habit and do make realistic decisions to use time to achieve our goals. Establishing how much time you should be devoting to different areas – planning ahead will help you to avoid the pitfalls of crisis time management. Also, if you try to meet all the demands, not only will you suffer from immense stress but also lose sight of your goals in life. Seemingly, habits are routine patterns of behaviour which need to be checked if they are not helpful. Once you are sure of your goals decisions become easy.

Drawing your life-graph can be a powerful and revealing experience. Most of the people will begin to know whether they are ready to take risk or just opt for convenience and comfort. In order to change your life patterns, it will be useful to take a look at what is getting highlighted on your life-graph. It should tell you a lot about your priorities and the way you are allocating or utilising your time at the moment.

It is vital to check if your goals are realistic and if it is achievable because the last thing you want to do is to set yourself up to fail. Look hard at your set of goals and set the priority. Cut out your task and to manage your time effectively in the medium to long-term, it will be useful to allocate your time effectively for each stage or level. You should set a deadline for achieving each activity. Budget the time in a way that would take you closer to your destiny.

A time management grid is a very useful way of analysing the demands on your time. Whether they are demands which other people are making on you or demand you are making on yourself, they can be evaluated in terms of their importance and their urgency and how long you spend on each time. To stay in control, you have to be ready to cope up with the unexpected when putting you 'to do' list in action. It is important to try to prevent disaster from happening and to have some contingency plans ready if they do occur. Schedules and charts are tools that will help you to plan how much time to spend at different stages of project. These tools will help you rework specific tasks and schedules you have prepared.

DEALING WITH OVERLOAD: If you have explored a number of time management techniques, you will probably know how overloaded you are with tasks. Before you decide what to do about the overload, first clear your feelings, do not resent having too much to do or are you willing to put up with this for the sake of your career? One course of action is to negotiate your overload. Your second option is to say 'No' to any additional piece of work. The third option is simply to change how you feel about the amount of work you have to do. The important point is to remember that it is not your fault that there is too much work to do. It has happened due to multiple reasons.

DELEGATION: Other than in sports, you can delegate task or a duty that is actually part of your own job. You should delegate tasks that are straightforward, routine or repetitive. Don't delegate ones that are too complex, too important or too confidential. Choose the people on the basis of their skills or their potential or because they would find the task challenging or enjoyable.

TIME MANAGEMENT TECHNIQUES: You must face up to the fact that you have been wasting time in the past and once you admit your procrastination, you can start to do something about your problem. You should start looking at the benefits of doing the work-not just the things you hate. Certainly you will complete the tasks that you found challenging or unpleasant. Accept that a job is not going to go away if you procrastinate. It will only get worse if you put it off indefinitely. Make up your mind to face it.

T E C H I N Q U E S F O R O V E R C O M I N G PROCRASTINATION: Plan to make Time your partner, not your opponent. Take the difficult work first. Break the big tasks down into small tasks. The important thing is to make a start. Start anywhere if you find it difficult to start. Commit yourself to a mentor to tell what you are going to do. Make yourself accountable to that person. Set your priorities based on the chart designed by you. Set your own deadline and reward yourself at each stage throughout the job and when it is finished. Avoid what distracts you especially socialising online or playing games or chatting or watching videos or films. Finally don't allow yourself to stop until you have worked for at least one hour.

PLANNING YOUR TIME: Remember all good superheroes require practice, learning and time to reach the peak. When you engage in competitive business or work, using time properly becomes crucial. Between practice, team meetings, job assignments etc., you have got a lot on your plate. Don't let others decide your destiny. How you see yourself determines your worth, future and success.

Setting goals provides us the foundation to build our career. When we expose ourselves to our environment and our experiences, we shape our perceptions and our thought process. Besides being aware of our weaknesses, maximising our strengths and knowledge skills will take us higher level of leadership.

Umesh Chand Asawa

TIME MANAGEMENT

Don’t worry about what others think of you. Just be true to yourself – Ramesh Kumar Bung.

01. What is 'Credit Rating?'02. Banks accept 'standing instructions' from their

customers for various purposes. What are they?03. What is called as 'national calendar' in India? 04. Which types of practices are considered as

'window dressing' of deposits?05. Who can close a deposit account in bank?06. What are the powers of RBI under FEMA?07. What is 'devaluation' of currency?08. What are the objectives of 'currency devaluation?' 09. When Indian Rupee was devalued? 10. How foreign exchange control can be affected? 11. What are the determinants of foreign exchange

rates? 12. How many kinds of foreign exchange rates are

there? 13. What i s CRM (Cus tomer Re la t ionsh ip

Management)? It refers to what? 14. e-CRM can address ------15. What are the tools for e-CRM?16. What is 'co-branded card?'17. What is LIC's Group Credit Life Insurance?18. What are the sources of 'mortality table?' 19. The Basic Savings Bank Deposit (BDBD)

Account was designed as a savings account which will offer certain minimum facilities, free charges, to the holders of such accounts. In the interest of better customer service, it has been decided to make certain changes in the facilities associated with the account. Banks are now advised to offer which basic minimum facilities in the BSBD Account, free of charge, without any requirement of minimum balance?

20. Recently, RBI decided to extend the timings for customer transactions (initial cut-off) in RTGS from 4.30 PM to ------

21. Secondary Loan market in India is largely restricted to sale to ---- and no formalised mechanism has been developed to deepen the market.

22. RBI has constituted a Committee on the development of Housing finance Securitisation Market. Who is the chairperson of it?

23. Who will remain ineligible for 'reconstruction' of bank loans/NPAs?

24. What is 'restructuring' of bank loans/NPAs? 25. Restructuring of bank loans/NPAs may involve ---26. RBI's Prudential Framework for Resolution of

Stressed Asset Directions 2019 are applicable to whom?

27. Which will not be treated as 'Banking Outlets'?

28. PoS terminals where limited cash withdrawals facility is allowed by banks in terms of extant instructions without having an arrangement with t h e c o n c e r n e d e n t i t i e s a s ' B u s i n e s s Correspondents' will not be considered as 'Banking Outlets'. Expand PoS.

29. Which will be treated as independent 'Banking Outlets'?

30. The first Indian state to tap into the market for 'masala bonds' is----

31. The first independent woman director appointed by BSE recently is ------

32. To regulate the issue of banknotes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage' is the mandate of RBI mentioned in --

33. RBI has constituted a committee to examine the entire gamut of ATM charges and fees. Who is the chairman of the committee?

34. What are the terms of reference of the V.G. Kannan Committee on ATM charges and fees?

35. RBI has issued regulations over time covering which money market products?

36. In order to provide an impetus to digital funds movement, RBI decided that with effect from ---, processing charges and time varying charges levied on banks by RBI for onward transactions undertaken using the RTGS system, as also the processing charges levied by RBI for transactions in NEFT system will be waived by RBI.

37. What is 'Central Counter Party (CCP)?38. RBI to inject durable liquidity through OMO

purchase auction' is the news item. What is the meaning of it?

39. What are the fundamental principles underlying the regulatory approach for resolution of 'stressed assets' of banks/FIs/NBFCs?

40. What is FITL?41. Credit Rating Agencies give which rating

symbols? 42. All ATMs shall be grouted to a structure i.e., --------

- etc., by 30.09.2019, except for ATMs installed in highly secured premises such as airports, etc., which have adequate CCTV coverage and are guarded by state / central security personnel.

43. Financial System may be defined as set of institutions, instruments and markets, which gather savings and channel them to their most efficient use. The Financial System consists of what?

44. The insurance sector supports the financial

54

BANKING AWARENESSBANKING AWARENESSBANKING AWARENESS

One of the luckiest things that can happen to you in life is to have a happy childhood – Ramesh Kumar Bung.

system in several ways. What are they? 45. What is 'Lloyd of London'? 46. What are the main objectives of incorporating

National Stock Exchange (NSE) in 1992?47. The process to assess demand for a particular

public issue at various prices, based on which the issue is priced and sold to the investor' is called as what in the context of share market?

48. Motif of Sanchi Stupa on the reverse, depicting the country's cultural heritage' is printed on which currency note?

49. The process by which the paper certificate of an investor are taken by the company/registrar and actually destroyed and equivalent number of securities are credited in electronic holdings of the investor' is called as ------

50. The platform, FX-Retail, is ready for rollout by the Clearing Corporation of India Limited (CCIL) on

51. The Fx-Retail platform can be accessed by any customer of a bank (through the website) who has a need to purchase or sell US Dollar against the Rupee for delivery on which basis?

52. With a view to enhancing efficiency in cheque clearing, RBI has introduced CTS for clearance of cheques, facilitating the presentation and payment of cheques without their physical movement. P2F has been discontinued for CG cheques with effect from February, 2016. Expand P2F.

53. Hirakud Dam' in the background in circular frame can be seen on which Indian currency note?

54. On new Rs. 50 currency note, which is printed? 55. The definition of 'counterfeiting' is covered by ----56. What is 'SWIFT' in banking terminology? 57. RBI took which initiatives, aimed at making

available benefits of banking services to the masses?

58. What is 'Financial Inclusion?'59. What is special advantage of RuPay Debit Card? 60. Expand the abbreviation CGTMSE. 61. The provisions of SARFAESI Act are associated

with ----62. What is 'near money' in banking? 63. The process of recalculating the exposure in a

trading position in securities contracts' is called as what?

64. Startup India Scheme is an initiative of the Indian Government. Give details.

65. Where does the Committee on Global Financial System (CGFS) meet?

66. Explain about 'soiled note'. 67. Priority Sector loans to which borrowers will be

considered under Weaker Section category? 68. G-Secs are mostly fixed-coupon bonds, although

instruments such as ------ are also issued. 69. In India, which governs the formalisation of issues

and transfer of securities? 70. RBI Act (1934) confers powers on RBI to regulate 71. What is an 'Overnight Index Swap?' 72. Micro, Small and Medium Enterprise (MSME)

sector has emerged as a very important sector of the Indian economy, contributing significantly to employment generation, innovation, exports and inclusive growth of the economy. Give details.

73. When the MSMED Act was enacted? 74. India's Foreign Exchange Reserves are placed at

USD ----- billion in June 2019.75. What are the key ingredients for a self-sustaining

'Virtuous Cycle' mentioned recently in economic survey report, 2019?

76. RBI has constituted the Working Group to review Regulatory and Supervisory Framework for core investment companies. Who is the chairman of it?

77. Who is the Union Finance Secretary? 78. Who are the Directors of Central Board of RBI?79. Who are the Dy. Directors of RBI?80. In the computerisation of bank branches, which

stages are crossed over the years? 81. What is 'Treasury Bill?'82. What are 'Dated Securities?' 83. When the term 'doom loop' is coined? 84. Mention briefly about Mutual Funds. 85. Expand FEDAI, FIMMDA, PDAI and AMFI. 86. The Reserve Bank regulates -------- (mention a

few). 87. Mention briefly about Forex Market in India. 88. Overnight money market in India includes ------89. Government Securities (G-Sec) market has

witnessed significant changes like ------90. What is 'Ways and Means Advance?' 91. Who can subscribe to Certificate of Deposits

(CDs)?92. What is the minimum size of Certificate of

Deposit? 93. Who can issue Commercial Paper? 94. Mention briefly about Negotiated Dealing

System. 95. Who are members in NDS? 96. What is CBLO?97. What is 'coupon rate?' 98. What is 'General Crossing?' 99. Who can cross the cheque? 100. What is Clearing Corporation of India Limited?

55

{Answers on page: 74-77}

Evil is not something superhuman, it is something less than human – Ramesh Kumar Bung.

56

A gentleman fast bowler - in itself

an anachronism - Courtney Walsh

has been one o f the mos t

remarkable characters in modern

cricket. An enduring memory of

this unusual man is his amazingly

sporting conduct in not running out

Pakistan's Salim Jaffer at Lahore in

the 1987 World Cup in the tense

closing stages of a nail-biting

match.

That would have been the last ball,

and had Walsh 'Mankaded' Jaffer,

the West Indies would have won

the match by one run, and may

have perhaps also qualified for the

semi-finals. But that would have

been a victory devoid of honour,

and Walsh is nothing if not an

honourable man. As it turned out,

Pakistan won the match by one

wicket when Walsh eventually

delivered that last ball. The

incident epitomized Walsh, who

always played within the spirit of

the game. It was not that he did not

play the hard way. He would never

have captured the highest number of wickets in Test

cricket had he not done so. But he never bent the

rules to his advantage, and was always dignified on

and off the field.

Walsh is still the highest wicket-taker for the West

Indies in the World Cup. He appeared in the

competition for the first time against England in

1987. He made early inroads, having Chris Broad

caught behind, though he came in for a hammering

later as England snatched a two-wicket victory. He

made another early breakthrough against Sri

Lanka, again in collusion with Jeff Dujon, but was

more economical this time. Then came that

extraordinary match against Pakistan. Walsh ripped

through the middle order. He had Salim Malik

caught by Eldine Baptiste, and then bowled Ijaz

Ahmed to have Pakistan tottering at 110 for 5.

He returned to dismiss both skipper Imran Khan and

Salim Yousuf, who were staging a rearguard action.

At that stage he had taken four for 26 off 9 overs. He

came on to bowl the last fateful over with Pakistan

needing 14 to win and Abdul Qadir in a belligerent

mood. The rest, as they say, is history, remembered

as much for Walsh's noble gesture

as for the heart-stopping finish.

Walsh had a quiet time in the return

matches against Sri Lanka and

England. The West Indies were

now playing only for pride. As they

faced Pakistan, Walsh dismissed

Malik and Imran, finishing with two

for 34 in his 10 overs. The side took

solace from the fact that they won

their last match.

Walsh did not appear in the 1992

World Cup but returned to the sub-

continent for the sixth edition of the

tournament. By this time the West

Indies team bore a completely new

look. For the first time in the

competition he shared the new ball

with his great comrade-in-arms

Curtly Ambrose. Walsh was rather

inconspicuous, though accurate, in

the early stages of the event, but

bowled wel l enough in the

stunning reverse at the hands of

Kenya. He took the first three

wickets as Kenya struggled at 45 for

three. Ultimately, in the context of

the match, he conceded too many runs - 46 runs in

his 9 overs.

But with the West Indies desperately needing a win

over Australia in the last league match in order to

qualify for the quarter-finals, Walsh was at his best

again. He had skipper Mark Taylor caught behind by

Courtney Browne. Later he bowled Steve Waugh

who had put on 110 for the third wicket with Ricky

Ponting. Walsh replicated his sporting gesture of

1987, this time refusing to run out non-striker Stuart

Law in the last over. He finished with two for 35 off 9

overs. Richie Richardson's brilliant knock ensured

that the side would progress to the knockout stage.

Walsh did not have much of a role in the quarter-

final, but bowled tidily in the closely-fought semi-

final against Australia after early inroads had been

made by Ambrose and Ian Bishop. He was the last

batsman to be dismissed as the West Indies

surrendered a match that they seemed to have had

in their grasp. Walsh bowled 333 deliveries in the

tournament, the same number that he did in 1987,

and he was as disciplined as ever.

It has often been said that Walsh got better with age,

CRICKET WORLD CUP HISTORY:

COURTNEY WALSH

A TRUE ROLE MODEL

Very few of us are what we seem – Ramesh Kumar Bung.

57

and if proof of it were required one only needs to

look at his figures in the 1999 tournament. Of

course, that event was held in territory familiar to

him, and which favoured his type of bowling - a far

cry from conditions in the sub-continent where he

played his other two World Cups, where wickets are

usually graveyards of fast bowlers.

Walsh was unerringly accurate in 1999. In a tough

opening encounter he dismissed both Pakistani

openers, Saeed Anwar and Shahid Afridi cheaply.

He then knocked back the stumps of big-hitting

skipper Wasim Akram to finish with three for 28 off

his 10 overs. The hapless Bangladeshis bore the

brunt of Walsh's swerving deliveries. He tore

through their line-up to bag four for 25 off 10 overs,

and claimed the man-of-the-match award.

Walsh continued to be on target against New

Zealand, removing Matthew Horne early and

conceding just 23 runs off his 10 overs. The rookies

from Scotland had a torrid time against the West

Indies attack, being shot out for 68 in 31.3 overs.

Walsh was not to be left out of the fun, his analysis

being 7-1-7-3. To beat Australia in the last round-

robin match for a berth in the super-six stage was a

tall order. They had done exactly that in 1996,

thanks to Richie Richardson's brilliance. This time

Australia too were in strife, and they prevailed easily.

Walsh bowled accurately, giving away just 25 runs in

his 10 overs.

That was the last time the large-hearted Walsh

played in the World Cup. It had been a long journey

for the gentle giant who shall remain an inspiration

for generations of cricketers - not only for his feats

with the red cherry, but equally for his demeanour

on the field. Ted Corbett summed up the man:

“Walsh has represented all that is good and exciting

and virtuous in West Indies cricket. He has a heart

that is larger than the rest of that stretched limo he

calls his body. He never knows when he is beaten, he

never lets a batsman have an easy ball, he never

cruises.”

Will we see another like him? One certainly hopes

so. Courtney Walsh's World Cup bowling and

fielding record: Matches 17, Wickets 27, Average

20.25, Best 4/25, Economy 3.46, Catches 3.

G. AmarnathHO: Estates

Finance Minister Nirmala Sitharaman on

Thursday, 4 July, 2019, tabled the Economic

Survey for FY 2020 in the Rajya Sabha,

projecting a growth rate of 7%. The survey sees

2019-20 GDP growth at 7%, reported Reuters.

The Economic Survey is the annual report of the

Indian economy for the year gone by (2018-19).

The survey prepared by Chief Economic Adviser

Krishnamurthy Subramanian is likely to flag

headwinds that the economy might face in its

pursuit to become the world's fifth largest

economy. It is also likely to detail reforms needed

to fulfil goal of more than doubling the size of the

economy to USD 5 trillion by 2024. It comes at a

time when some critics said the government in its

first term delivered a jobless growth and needs re-

inventing to propel the economy and create jobs.

GST, Farm Scheme Pose Challenges, Says

Survey. Economic Survey says slow growth, GST,

farm schemes to pose challenges on fiscal front,

reported Reuters, quoting sources. Fiscal Deficit

At 5.8% in FY19: Survey

Fiscal Deficit seen at 5.8% in FY19 vs 6.4% in

FY18, the Economic Survey reportedly states.7%

GDP Growth Expected in FY20: Economic

Survey. GDP growth at 7% expected on stable

macroeconomic condition for 2019-2020, says

Economic Survey tabled in the Parliament,

reported Business Standard.

The survey sees growth picking up on higher

private investment and robust consumption,

reported Reuters, quoting sources.

Govt Tables Economic

Survey in Parliament,

Projects GDP at 7%

One doesn’t recognise the really important moments in one’s life unless it’s too late – Ramesh Kumar Bung.

FRAUD RISK MANAGEMENT FRAUD RISK MANAGEMENT FRAUD RISK MANAGEMENT

58

Bank frauds have attracted considerable attention in the recent years. The number of cases of fraud and the amount involved are so high as to threaten the credibility of the financial system of the country. Let us know the background of bank frauds and analyse its trends. Let us also discuss the possible solutions to this malaise.

Bank frauds are essentially financial frauds. Financial frauds have existed from time immemorial. Kautilya, in his famous treatise Arthasastra, written around 300 BC, has given a graphic picture of what is termed as 'fraud' in modern day. Kautilya described forty ways of embezzlement. He narrates some of the major among them in the words: 'what is realised earlier is entered later on; what is realised later is entered earlier; what ought to be realised is not realised; what is hard to realise is shown as realised; what is collected is shown as not collected; what is not been collected is shown as collected; what is collected in part is entered as collected in full; what is collected in full is entered as collected in part; what is collected is of one sort, while what is entered is of another sort'.

Some of the actions continue to be the modus operandi adopted in many instances of financial fraud that have hit the headlines in recent time. According to Association of Central Fraud Examiners, a global anti-fraud organisation, a typical organisation loses 5% of its revenue to fraud each year and cumulative annual fraud loss globally during 2011 could have been of the order of more than $ 3.5 trillion.

Bank Frauds: Background and Definition: The term 'fraud' can be defined as any behaviour by which one person intends to gain a dishonest advantage over another. In other words, fraud is an act aimed at causing wrongful gain to one person and wrongful loss to the other, either by way of concealment of facts or otherwise. According to Section 17 of the Indian Contract Act, 1872, fraud includes any of the following acts committed by a party to a contract, or with his connivance, or by his agents, with intention to deceive another party thereto or his agent, or to induce him to enter into the contract:

Ÿ The suggestion as a fact, of that which is not true, by one who does not believe it to be true;

Ÿ The active concealment of a fact by one having knowledge or belief of the fact;

Ÿ A promise made without any intention of performing it;

Ÿ Any other act fitted to deceive;

Ÿ Any such act or omission as the law specially declared to be fraudulent.

In the Report of RBI Working Group on Information Security, Electronic Banking, Technology Risk Management and Cyber Frauds, A definition of fraud was put forward in the context of electronic banking:

'A deliberate act of omission or commission by any person, carried out in the course of a banking transaction or in the books of accounts maintained manually or under computer system in banks, resulting into wrongful gain to any person for a temporary period or otherwise, with or without any monetary loss to the bank'.

Bank fraud can broadly be described as the use of potentially illegal means to obtain money, assets or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term 'bank fraud' applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered as a white-collar crime.

Bank frauds in India have been keeping an upward trend during the last few years. An analysis of group-wise bank frauds reveals that while the private sector and the foreign bank groups accounted for a majority of frauds by number (82.5%), the public sector banks accounted for nearly 83% of total amount involved in all reported frauds. During the last 5 years, over 23000 cases of bank frauds involving Rs. 1 lakh crore have been reported. A noteworthy aspect of the recent trends in bank fraud is that while the number of fraud seems to have come down, the amount involved has registered steep increase. Five major cases of bank fraud that took place in the recent past may be highlighted.

Trends in Bank Frauds in Recent years

01. One of the leading public sector banks reported that it had been defrauded of about Rs. 12954 crore by the borrowers' group. It is alleged that the

Year

No. Of Cases Amount involved

(Rs. In Crores)

2013-2014 4306 101702014-2015 4693 186982015-2016 4639 19455

2016-2017 5076 239332017-2018 5152 8459

Curious things-habits; people themselves never know they had them – Ramesh Kumar Bung.

59

borrowers raised credit from overseas banks based on fraudulent guarantees issued in collusion with bank staff. Bank filed complaint against them.

02. The same bank reported another credit-guarantee fraud at its Mumbai branch which is also at the centre of the above firm's scam. According to a comp la in t f i l ed w i th CBI , the a l l eged embezzlement of around Rs. 9 crore involved executives of a company and its allied products.

03. The largest public sector bank in the country reported a fraud of Rs. 824.15 crore involving a gold trader. An investigation into the fraud was initiated by ED and searches were being conducted at the premises of the company. The CBI registered a case against the fraudster. It was accused of defrauding a consortium of 14 banks. The jewellery company had taken a loan of Rs. 824.15 crore from the consortium and the loan account has turned bad.

04. Another leading public sector bank was also defrauded of about Rs. 1 crore by one of its former chairmen. The CBI filed charges against the ex-chairman and others. It is alleged that the officials helped a company defrauded bank of Rs. 1 crore taken as loan 4 years ago. The CBI arrested 7 people including 2 former managers and directors of the company in a separate bank fraud case of Rs. 15 crore.

05. The CBI arrested 2 directors of an info-system company over allegation that they had cheated a group of 10 banks involving an amount of Rs. 515 crore. The modus operandi adopted was using forged documents to raise credit and siphoning off funds.

Category of Frauds: According to Dr. K.C. Chakrobarty, former Deputy Governor of RBI, frauds reported by banks can be divided into 3 main sub-groups – Technology related, Deposit Account related and Advances related. A detailed analysis of the reported fraud cases has shown around 65% of the total fraud cases reported by banks were technology related frauds (covering fraud committed through/at internet banking channels, ATMs and other alternate payment channels like credit/debit/prepaid cards). The advances portfolio accounted for 64% of the total amount involved in frauds. Relatively large value advances related frauds (< Rs. 1 core) have increased both in terms of number and amount involved over the last 4 years.

Technology Related Frauds: The high incidence of technology-related frauds is not surprising considering the fact that there has been a remarkable shift in the service delivery model with greater technology integration in the financial service sector. There is a growing trend of banks encouraging their customers to adopt newer service delivery platforms like mobile, internet and social media, for enhanced efficiency and saving cost. Technology, however, is neutral between customers and fraudsters. As more and more customers become tech-savvy, newer and newer methods of committing frauds are also being developed by fraudsters. The ever-changing nature of technology and loop-holes has facilitated the fraudsters in this regard. Of late, instances of low value frauds have employed hostile software programs or malware attacks, phishing, Vishing (voicemail), SMSishing (text messages), Whaling (targeted phishing on High Net worth Individuals) are growing at an alarming rate. Techniques have been developed to steal confidential data to perpetrate frauds.

A major factor behind technology-related frauds is the entry of new private sector banks and foreign banks in the Indian banking scenario. In terms of amount, the technology related frauds are not very high from the bankers' point of view. But for the individual customers who are the victims of such frauds, they are significant. But it should be remembered that these tech-savvy customers have high presence in the social media. The social media campaigns about these frauds can tarnish the image of the entire banking industry. It is in the long-term interests of the banking industry to keep a constant watch against technology-related frauds while exploiting the tremendous potential of information technology in banking industry. The frequency of cyber attacks has prompted RBI to introduce several measures to minimise the impact such attacks on banks.

Deposit Account-related Frauds: Of late, electronic modes of payments like NEFT and RTGS has gained considerable popularity due to the real time impact and also comparatively lower cost. Though transactions using these modes are based on specific ID and password, both individual customers and banks have to take extra care to ensure that these channels are safe and secure. Keeping this in view, RBI has advised banks to introduce preventive measures such as putting a limit on the value/number of beneficiaries, introducing system of issuing alerts on inclusion of additional beneficiary and velocity check on number of transactions effected per day/per beneficiary.

Everything that has existed lingers in the eternity – Ramesh Kumar Bung.

60

Several cases of replication of data contained in genuine debit/credit cards onto duplicate cards are being reported. Banks have the enormous task of improving the peripheral and system security in ATM locations and educating their customers about using their payment cards with due caution. Another emerging modus operandi is fraudulent e-mails and sms messages informing people about winning prizes which require them to pay money in designated accounts. Most often, such accounts do not satisfy all KYC norms. Sometimes such accounts remain in-operative for years. Banks have the responsibility to educate people against these frauds. They have to ensure that deposit accounts maintained with them are fully compliant with KYC norms. As a part of its financial literacy programme, RBI has been educating the public through print media and on its website not to fall prey to such messages.

Advances-related Frauds: Frauds related to the advances portfolio form the large share of the total amount of frauds in the banking sector. During the last few years, there is sharp increase in the cases involving Rs. 50 crore and above. Sometimes such loan accounts are financed under consortium or multiple banking arrangements. A good many of these advances come under infrastructure projects with long gestation period. Public sector banks account for substantial portion of the amount involved in such cases. There is considerable delay in declaring these frauds by various banks in cases of consortium / multiple financing and this often helps the borrower to commit all sorts of manipulations. This renders the task of investigating agencies extremely difficult.

According to Dr. Chakrabarty, deficient appraisal system, poor post disbursement supervision and inadequate follow-up are the three factors contributing to the growing incidence of bank frauds in India. A fool-proof and orderly information sharing mechanism between banks can go a long way towards perfecting the credit appraisal system. The importance of post-disbursement supervision and follow-up is clearly revealed by the fact that majority of fraud cases come to light during the recovery process initiated after the accounts have been classified as NPAs. Two major forms of frauds observed during recovery process are fraudulent title deeds or availing multiple loans against the same property or mortgaged asset. Such frauds can be checked to a large extent through proper exchange of information between banks.

RBI has instructed banks to subject the title deeds in respect of securities charged to them to legal audit

periodically so that cases of multiple financing may be detected in the initial stages itself. Due diligence on other professionals like Chartered Accountants, Valuers and Advocates involved in the loan assessment and sanctioning processes is also an essential safeguard. There have been instances with some of these professionals have also facilitated the perpetration of fraud by colluding with the borrowers to fabricate fudged financial statements, inflated security valuation reports and defective search reports for the title deeds of mortgaged property. It should be noted that based on these that banks have been led to overestimate the funding requirements and security cover for the same.

Bank Frauds and Non-performing Assets: A major reason for the rising trend of non-performing assets of banks is frauds. Gross NPAs of all banks in the country is up to the tune of Rs. 3.50 lakh crore as on March, 2019. Industrial loans account for largest portion of NPAs followed by services and agricultural sector.

Steps towards curbing Bank Frauds: Recent trends in bank frauds threaten the credibility of banking industry in India. There is thus an urgent need to curb bank frauds. We may briefly discuss some of the measures initiated by RBI in this direction.

Staff Accountability: In some of the high profile fraud cases, collusion between bank staff and fraudsters has been alleged. This has led to the identification of accountability of the banking staff as an area requiring immediate attention by banks in such cases, the general tendency is to include a large number of officials in the probe. This often leaves the investigation delayed and diluted. Cases where investigations are completed, the general tendency is to hold only the junior level officials responsible for the frauds. The lapses of the higher level officials are often ignored unless the case becomes high profile involving large amount. There is a need to put in place objective parameters for identifying the lapses of officials and holding them responsible. At the same time, the accountability issue should not be carried to the extent of making banking institutions risk averse. The losses which a bank suffers in its normal course of business and those which might have resulted from fraudulent actions need to be differentiated. While fixing staff accountability, there is need to categorically establish wilful lapses on the part of an employee so that innocent officials do not become averse to sanctioning even good credit proposals.

Fear of the new is a natural reaction but if you overcome that fear, you can shine – Ramesh Kumar Bung.

61

Corpora te Gove r nance : Good Corpo ra te Governance plays an important role in controlling fraudulent activities. RBI has clearly indicated that fraud risk management, fraud monitoring and fraud investigation functions must be owned by the bank's top officials and Audit Committee. Audit Committee plays a pivotal role in evolving robust fraud risk management systems and in implementing effective fraud risk mitigating measures. They are responsible for effective investigation of fraud cases and prompt, accurate reporting to appropriate regulatory and law enforcement authorities. The management has to put in place targeted fraud awareness training for its employees focusing on prevention and detection of fraud.

Information Sharing: Another vital fraud preventive measure is information sharing and alert mechanism. RBI has put in place a mechanism by which the modus operandi of fraud cases reported by any bank is shared with all banks along with the details of the entities involved. This goes a long way towards concurrent monitoring of the existing guidelines, identifying loopholes and initiating corrective steps. Banks are also required by RBI to report negligence or involvement of entities like Chartered Accountants, valuers and advocates resulting in perpetration of frauds to their professional oversight bodies for appropriate deterrent action.

Monitoring Credit History: An encouraging development is that most banks have put in place a system of checking the credit history of the borrower through credit information companies like Credit Information Bureau (India) Limited (CIBIL). But all these need not dissuade enterprising fraudsters from seeking credit from the banking system. It is here that the relevance of setting up a fraud registry on the lines of the credit information bureau. If stringent measures such as prohibition of banking facilities to fraudulent borrowers are taken, it is possible to curb this malaise to a large extent.

Conclusion: India has taken several policy measures aimed at improving the country's ranking in ease of doing business. With the introduction of GST, India's rank in World Bank's ease of doing business ranking has improved from 130 to 100. However, the recent cases of bank frauds have tarnished the image of the country to some extent. This can have adverse impact on the saving and investment culture of the country. This calls for urgent legal and policy interventions.

Ranjana SharmaEditor / Deputy General Manager

Do we have the right to expect a trustworthy world? What we have done to create a trustworthy word? What part have we played to create trustworthy people? Lying, corruption and betrayal has become so much a part of our life that we are no more even aware that we lived. Our lying, corruption and the betrayals have become so much a part of us that we do not seem to even feel that it is wrong any more. It has become so spontaneous. Only what the world does appear wrong to us. Touch your heart and answer this question, 'Do you have a right to expect a trustworthy world?'

A liar is being lied to. A cheat is being cheated. A betrayer is being betrayed. A theft happens to a thief. So why are we complaining? Now you will immediately start explaining in your defence that it is impractical to be honest in today's world. If you think honesty is impractical for you, it must be so for others too. So why are we complaining?

If nobody around is trustworthy and I, the central character of my life I am also not trustworthy, what sort of a world are we then creating? Are aware of the global suicide that is happening on account of having lost morality at all levels? We are not only mere spectators to this moral degeneration that is happening but are also acting as catalysts to it by our participation. Do we then have the right to expect a trustworthy world?

Can you try being trustworthy? Can you please experiment with integrity? Can you give truth a chance? Please give it a thought. If such low ideals can give you such returns, don't you think higher ideas will give you better returns? Please give it a shot.

D S V V SatyanarayanaAsst. General Manager

IS THIS WORLD TRUSTWORTHY?

What is this thing called love, where we love the God, but not his children? – Ramesh Kumar Bung.

How would you like to buy yourself a journey of a

lifetime simply by booking a travel vacation on India's

most luxurious trains? If the idea of travelling back in

time and experiencing royalty is of interest to you,

then luxury trains in India are custom made for your

imagination. Managed by Indian Railways and the

IRCTC, there are a total of 7 luxury trains in India

which cater to tourists who wish to explore the rich

cultural heritage of the country in the lap of luxury.

Mind-boggling interiors, majestic ambience, lavish

astronomical fare, stringent security arrangements

and more, this is the experience you would be in for on

a ticket to luxury. Here's all you need to know about

the tariffs and routes involved.

01. Maharajas' Express: Tour fares: Gems of India &

Treasures of India – 4-day journeys for Rs 2,57,950

(approx) each Indian Splendour & The Indian

Panorama – 8 days journey for Rs 4,00,660 (approx)

each Heritage of India – 8 days journey for Rs

4,58,280 approx. The Maharajas' Express is the finest

among Indian luxury trains and is also one of the 5

most luxurious trains in the world. This half-a-mile

long train boasts of professionals prepared to meet the

highest quality of hospitality, fully stocked bars, lavish

suites, butler services and what not! Tourists on board

get to experience the richness of the country in the

most distinguished way possible. For the record, it was

voted 'World's Leading Luxury Train' for the years

2012, 2013 and 2014, consecutively.

Routes: The Heritage of India (Mumbai – Ajanta –

Udaipur – Jodhpur – Bikaner – Jaipur – Ranthambore

– Agra – Delhi) Gems of India (Delhi – Agra –

Ranthambore – Jaipur – Delhi) The Indian Panorama

(Delhi – Jaipur – Ranthambore – Fatehpur – Sikri –

Agra – Gwalior – Orchha – Khajuraho – Varanasi –

Lucknow – Delhi) Indian Splendour (Delhi – Agra –

Ranthambore – Jaipur – Bikaner – Jodhpur – Udaipur

– Balasinor – Mumbai) Treasures of India (Delhi –

Agra – Ranthambore – Jaipur – Delhi)

02. Royal Rajasthan on Wheels: Starting fares per

cabin on twin sharing basis:For international

travellers: US$9,450 + 4.5% Service tax For Indian

travellers: Rs 5,67,000 + 4.5% Service tax. Royal

Rajasthan on Wheels is known for offering supreme

quality of comfort and a mesmerising travel

experience beyond imagination. With 14 luxury

cabins modelled on erstwhile royal palaces, multi-

cuisine restaurants, bars and spa services on board,

this train lives up to its name and remains in great

demand for luxury train journeys in India.

Route: Delhi – Jodhpur – Udaipur – Chittorgarh –

Sawai Madhopur – Jaipur – Khajuraho – Varanasi –

Agra – Delhi. Like most Indian luxury trains, Royal

Rajasthan on Wheels is operational from October to

March. Duration of the journey is 7 nights, 8 days. In

each city that it stops, tours to city attractions and

famous historical places in India are included.

03. Palace on Wheels: Star t ing fares: For

international travellers: US$3500 + 4.5% Service tax

For Indian travellers: Rs 2,10,000 + 4.5% Service tax.

'Palace on Wheels' is another in the list of luxury train

rides in India that was refurbished and re-launched in

2009 to promote tourism. Luxurious cabins, exquisite

wallpapers, well-stocked bar, gracious hospitality and

local culture displayed by artistic use of paintings and

handicrafts – it is very much like a palace on wheels

that recreates the bygone era of kings and their royal

palaces! No wonder why it was voted as 4th best

luxurious train in the world. Route: Delhi – Jaipur –

Sawai Madhopur – Chittorgarh – Udaipur – Jaisalmer

– Jodhpur – Bharatpur – Agra – Delhi Months of

operation for Palace on Wheels are from September to

April. The 7 nights, 8 days journey includes 7

stoppages, where tourist are taken for city tours.

04. The Deccan Odyssey: Starting fares: For

international travellers: US$5,810 + 4.5% Service tax

For Indian travellers: Rs 3,71,900 + 4.5% Service tax.

Inspired by the travelling style of the kings and rulers

during different royal eras of ancient India, Deccan

Odyssey is a 5-star hotel on wheels that takes you to

some fascinating destinations of India. Royal

treatment for passengers, palace-like interiors of the

cabins, multi-cuisine restaurants, lounges, a

conference car, an onboard spa and other state-of-

the-art amenities make it one of the most luxurious

trains in India and in the world as well. The Deccan

Odyssey operates from October to April and the

duration for all 6 routes is 7 nights, 8 days.

Routes: Maharashtra Splendor (Mumbai – Nasik –

Ellora Cave – Ajanta Caves – Kolhapur – Goa –

62 The greatest strength comes only from a deep selflessness in life and that is expressed through mind, action and speech – Ramesh Kumar Bung.

INDIA'S MOST LUXURIOUS TRAINS & TARIFFS

Ratnagiri – Mumbai) Indian Odyssey (Delhi – Sawai

Madhopur – Agra – Jaipur – Udaipur – Vadodara –

Ellora Caves – Mumbai) Hidden Treasures of Gujarat

(Mumbai – Vadodara – Palitana – Sasan Gir –

Somnath – Little Rann of Kutch – Modhera – Patan –

Nashik – Mumbai) Indian Sojourn (Mumbai –

Vadodara – Udaipur – Jodhpur – Agra – Sawai

Madhopur – Jaipur – Delhi) Jewels of the Deccan

(Mumbai – Bijapur – Aihole – Pattadakal – Hampi –

Hyderabad – Ellora Caves – Ajanta Caves – Mumbai)

Maharashtra Wild Trail (Mumbai – Aurangabad –

Ramtek – Tadoba – Ajanta – Nashik – Mumbai).

05. The Golden Chariot train: Starting fares per

cabin on twin sharing basis for Pride of the South:For

international travellers- US$8,260 + 4.5% Service tax

For Indian travellers- Rs 3,08,000 + 4.5% Service tax

Starting fares per cabin on twin sharing basis for

Southern Splendour: For international travellers-

US$9,130 + 4.5% Service tax For Indian travellers-

Rs 3,50,000 + 4.5% Service tax. This superb luxury

train in India takes you to some of the most famous

tourist places in South India. Launched in 2008, the

Golden Chariot is well known for its impeccable

hospitality. The train has AC chambers with royal

interiors, bars, restaurants serving multi-variety

cuisines, mini gym, Ayurveda spa and other 5-star

facilities.

Routes: Pride of the South (Bangalore – Kabini –

Mysore – Hassan – Hampi – Badami – Goa –

Bangalore) Southern Splendour (Bangalore –

Chennai – Mahabalipuram – Pondicherry –

Thanjavur – Madurai – Thiruvananthapuram –

Alleppey – Kochi – Bangalore). The Golden Chariot

runs from October to March, and duration for both the

routes is 7 nights, 8 days. Regarded by tourists as one

of the best luxury trains of India, it was also awarded

as 'Asia's Leading Luxury Train' in the year 2013.

06. Royal Orient Train: Starting fares per cabin per

person for one night on twin sharing basis from

October-March:For international travellers: US$200

+ 4.5% Service tax For Indian travellers: Rs 7,480 +

4.5% Service tax Starting fares per cabin per person

for one night on twin sharing basis from April-

September:For international travellers: US$150 +

4.5% Service tax For Indian travellers: NA. Embark on

a royal journey by the Royal Orient Train and enjoy a

delightful experience of travelling to famous tourist

destinations onboard one of the best luxury trains in

India. Journey by this train is a combination of

absolute chivalry and unimaginable opulence. The

palatial-style comfortable cabins, well-trained

hospitality professionals, multi cuisine restaurant with

the 'Watering Hole' Bar, spacious baths, a library and

almost all facilities that come to your mind while

imagining yourself in a 5-star hotel – Royal Orient

Train has them.

R o u t e : D e l h i – C h i t t o r g a r h / U d a i p u r -

Junagarh/Veraval- Sasan Gir/Dilwara – Palitana-

Sarkhej- Ahmedabad- Jaipur- Delhi. The Royal

Orient Train runs all year round, and the duration is 7

nights, 8 days.

07. Fairy Queen Express: Starting fares for full

package (Two-way train journey + sightseeing / stay

at Sariska for an adult) INR 8,600 + Government

taxes/Service taxes. Last but not the least, the Fairy

Queen Express is one of the oldest trains providing

luxury train journeys in India. Powered by the oldest

serving steam locomotive built in around 1855, Fairy

Queen has its own charm as it rambles through to

Alwar in Rajasthan. With a mention in the Guinness

Book of World Records and a recipient of National

Tourism Award, Fairy Queen easily makes it to the list

of most luxurious trains in India.

Route: Delhi – Alwar – Sariska- Alwar – Delhi Runs

from October to March on 2nd and 4th Saturdays of

the month. Duration of the journey is 1 night, 2 days.

Gopal Kishan Dev SharmaHO: Clearing

63The wisest and most inspired words in the world are merely words unless you apply them your life- Ramesh Kumar Bung.

64

Budget 2019 of the government has been tabled in Parliament. In her maiden budget speech, Finance Minister Nirmala Sitharaman has proposed an array of offerings. It is evident from Budget 2019 that the government and the Union Finance Ministry's is seeking to strengthen the roadmap o f t he I nd ian economy.

T h e h i g h l i g h t s o f t h e F M ' s announcements collated here speak volumes about the government's intent in terms of economy. Take a look.

FM presented the Union Budget 2019 in Parliament emphasising on goals for people of India- economic growth and national security. She said India became 1 trillion dollar economy in over 55 years. But under the tenure of the government, another 1 trillion dollar was added. She proposed that India enter the threshold of 3 trillion economy in the current year itself. With this India wil l become the sixth largest e conomy i n t he wo r l d . FM Sitharaman claimed that five years back it was at 11th position.

The government will take necessary steps in consultation with Reserve Bank of India and SEBI. FM has proposed to rationalise and streamline KYC norms for Foreign portfolio investment (FPIs) to make this more investor friendly. She also proposes to allow FII/FPI investments to be transferred or sold to any domestic investor. In a mega push to uplift the living standard of rural people, FM proposes all families will have electricity and LPG connection connections by 2022. The central government will soon announce a package for power sector, FM said.

Ÿ India to be Open-defecation free by October 2, 2019.

Ÿ No change in income tax slabs. However, surcharge has been increased for those earning 2-5 crore and those earning 5 crore and above. The effective tax rate for these categories will increase by around 3% and 7%, respectively.

Ÿ Cargo movement in Ganga will increase 4 times in 4 years.

Ÿ FM proposes FAME II scheme. Under this scheme

there will be faster adoption of e lec t r i c veh ic les by r igh t incentives. She also said there is n e e d t o d e v e l o p i n l a n d waterways which will help share the burden of cargo movement from road and rail. FM said that schemes such as Sagarmala, Bharat Mala and UDAN have been wiping out urban rural divide. These have improved the transport infrastructure.

Ÿ Govt to streamline multiple labour laws into a set of four labour codes.

Ÿ Study in India programme to attract foreign students.

Ÿ Railway station modernisation programme to be launched this year.

Ÿ Government to focus on training new age skills like AI, robotics, 3D printing.

Ÿ Blueprint for a national gas grid, water grid, i-ways and airports to be unveiled.

Ÿ Pradhan Mantri Gram Sadak Yojana phase 3 to upgrade 1,25,000 km of road length over the next 5 years.

Ÿ Package for power sector tariff and structural reforms to be unveiled soon.

Ÿ 1.95 cr houses to be constructed under Pradhan Mantri Awas Yojana (PMAY) from FY20-22.

Ÿ NRI portfolio route to be merged with FPI for seamless investment in stock markets.

Ÿ Govt to liberalise FDI in aviation, media, animation and insurance intermediaries.

Ÿ One hundred new clusters to be set up in 2019-20 to enable 50,000 artisans to come into economic value chain.

Ÿ Petrol, Diesel to cost more.

Ÿ Finance Minister has proposed a change Aadhaar card rules. The government has announced that Non-resident Indians (NRIs) with Indian passports will get Aadhaar number after arrival. So far, they are given Aadhaar card number after the completion of mandatory waiting period.

Ÿ The gove r nmen t encou rage s women entrepreneurship. Finance Minister said Women

HIGHLIGHTS

OF UNION

BUDGET 2019: WHAT YOU NEED

TO KNOW

‘’High expectations are the key to everything’’ – Ramesh Kumar Bung.

65

Self Help Group(SHG) Interest Subvention Programme will be expanded to all across districts in India. FM stated 'Naari tu Narayaani' .

Ÿ Every single rural family, except those unwilling to take connection, to have electricity, LPG connection by 2022.

Ÿ Proposal to expand Swachh Bharat mission to undertake sustainable solid waste management in every village.

Ÿ FM says to discourage the practice of making business payments in cash the government proposes to levy TDS of 2% on cash withdrawal exceeding Rs 1 crore in a year from a bank account.

Ÿ More than 120 crore Indians now have Aadhaar. FM proposes to make the two documents interchangeable so that Aadhaar can be used for verification with no requirement for PAN.

Ÿ An additional deduction of Rs 150000 on interest on loans borrowed under affordable housing.

Ÿ To resolve the issue of Angel Tax the startups and investors who file requisite declarations will not be subjected to any kind of scrutiny in respect of valuation of share premium. A mechanism of e-verification will be put in place and with this, the funds raised by startups will not require any tax scrutiny.

Ÿ Additional Income Tax exemption Of Rs.1.5 Lakh On Interest Paid On Loans for electric vehicles

Ÿ The government is setting an enhanced target of Rs 1,05,000 crore for disinvestment during FY20 and will continue with disinvestment of PSUs in the non-financial space as well.

Ÿ Pradhan Mantri Karam Yogi Maandhan: Pension benefits to retail traders and small shopkeepers.

Ÿ Enhanced interest deduction for affordable housing loan. Tax benefits for corporate taxpayers.

Ÿ Pradhan Mantri Matsya Sampada Yojana (PMMSY). Establish robust fisheries management framework

Ÿ Reform, Perform, Transform agenda: GST,IBC, RERA etc. Changing common man's life: MUDRA, UJJWALA, SAUBHAGYA etc.

Ÿ FM proposes to expand self help groups to all districts; one woman in every SHG to get loan upto Rs 1 lakh under Mudra Yojana.

Ÿ An expenditure of Rs 70,000 crore to be provided to Public Sector Banks (PSBs) in order to boost capital.

The carousel never stops turning. There is no going back. As much as we would like it, there is no time machine to travel back into the past and do all that we wish we would have done them. Today, we think about what should have been done yesterday and tomorrow we are going to be lost in thoughts of things we did or did not do today and the cycle will go on and on until we start living in the moment, here and now, and understand that today is tomorrow's past – that tomorrow, all of today is going to become history – which we constantly wish to change. It can be changed now, while it is still in the present – by living in it, realizing that it is determinant of the future, being present in it with complete awareness, doing everything in our power to make it worthwhile and better than the moment that has gone by.

What we need to understand is that no amount of guilt can change the past and no amount of anxiety can change the future. That life is certainly uncertain and all we practically have is NOW. We spend our whole lives worrying about the future, planning for it, but at some point, we need to start to realise that our life is happening in the 'now'. This is it. It is here. Every moment has in it the potential to author a legacy – the domino effect of many such moments is the future we dream of. Sooner or later, by living in the present – the history of tomorrow – and making the most of it, we will all get there.

If Sir Isaac Newton were to be busy in making future plans and not consciously have been present in the moment when an apple fell off from the tree he was sitting under, there is a good chance that the world today would not have harnessed the potential of gravity – life would have been so very different. Extending this analogy, all the current advancements in the world of artificial intelligence, personalised medicine, drones and green electricity among other are vital building blocks for the next level of life-changing entities in the coming years.

All it takes is one idea, one thought, one moment to change the course of our lives entirely, which is why the most important history is the history we are making today. This holds true in all aspects of life and in all fields – right from science, technology, art and everything in between – and therefore, needs to be spread to as many minds as possible.

S. Rama Sarma Senior Manager

THE HISTORY WE ARE MAKING TODAY

To wipe every tear from every eye is the motto of life - Ramesh Kumar Bung.

The Indian legal system is fairly complex. It takes seasoned, hardened, highly knowledgeable, well-practiced lawyers to resolve or oversee some cases based on facts, guidelines and loopholes, which even the law is sometimes not aware exists within its framework until a curve ball is thrown at it from legal bibles. Given that resolving legal issues is a matter of intense responsibility, it also comes at a great price. Here are some of the game changers in the legal arena of India who charge a 'bomb' by virtue of having lived up to the expectations of their clients consistently.

Ram Jethmalani: Fees: Rs 25+ Lakh per appearance. Age: 95 years Indian

lawyer and politician who has served as India's Union Law Minister and as chairman of the Bar Council of India. He has represented a sweep of cases from the high-profile to the controversial

for which he has often faced severe criticism. He is the highest-paid Indian

lawyer. Ram Jethmalani obtained LL.B.degree at the age of 17 and started practising law in his hometown (in today's Pakistan) until the partition of India. Jethmalani is a well known face amongst the legal community in India. Even though his forte lies in criminal law, he has appeared in many high-profile civil cases. He has a number of high-profile defence cases to his credit as a lawyer – people involved in market scams (Harshad Mehta and Ketan Parekh), and a host of gangsters and smugglers including the British citizen Daisy Angus who was acquitted of hashish smuggling after serving five years in jail. He also defended L. K. Advani in the Hawala scam. He was in the news for taking up the defence of Manu Sharma, prime accused in the Jessica Lall murder case; however, he failed to get Manu Sharma acquitted. He is going to be defending Lalit Modi – former Indian Premier League (IPL) chairman and commissioner. He has also represented underworld don Haji Mastan, Amith Shah in Sohrabuddin fake encounter case, Kanimozhi's defence in 2G spectrum case, Yeddyurappa's case on illegal mining scam, Asaram Bapu's defence in Jodhpur sexual assault case, and Lalu Prasad Yadav's defence in the Supreme Court of India.

Kapil Sibal: Fees: Rs 8- 16 lakh per appearance. Age: 70 years, Indian politician Kapil Sibal, belonging to the Indian National Congress party, was formerly a lawyer. Kapil Sibal joined the Bar association in 1970. He decided to

set up his own law practice. He was designated as a Senior Lawyer in 1983.

Over the years, he has held several important positions in the Government of India and the Society, such as: Additional Solicitor General of India (December 1989 – 1990); Member, Board of Management, Indira Gandhi National Open University (1993); President, Supreme Court Bar Association (1995–96, 1997–98 and 2001–2002), and more. He represented India in the Annual Meetings of the World Economic Forum in 2005 and 2009 held at Davos, Switzerland. He led the Indian delegation to the Annapolis Conference, USA, held to gather International support for establishment of a Palestinian state and the realization of Israeli–Palestinian peace during November 2007. He led the Indian delegation to the United Nations Framework Convention on Climate Change (UNFCCC) at Bali in December 2007.

Fali Nariman: Fee: Rs 8- 15 Lakh per appearance. Age: 90 years, Fali Sam Nariman is an Indian jurist. He was the senior advocate to the Supreme Court of India since 1971 and has remained the President of the Bar Association of

India since 1991. Nariman is an internationally recognised jurist on

international arbitration. He has been honored with the 19th Lal Bahadur Shastri National Award for Excellence in Public Administration 2018. He is one of India's most distinguished constitutional lawyers and he has argued several leading cases. He remained Additional Solicitor General of India May 1972- June 1975. Nariman argued in favour of Union carbide in the infamous Bhopal gas disaster case, which he admitted as a mistake in recent times. He was instrumental in getting a deal between victims and the company outside court, which offered an amount of $470 million to the victims. He also argued in the famous case of the Supreme Court AoR Association, in which the Supreme Court took over the appointment of judges in the Higher Judiciary. He also appeared in many important cases like Golak Nath, S.P. Gupta, T.M.A. Pai Foundation. He represented the Gujarat Government in the matter of the Narmada rehabilitation but resigned shortly after attacks on Christians in the area and the burning of copies of the Bible. On 17.10.2014, he appeared for the former Chief Minister of Tamil Nadu J Jayalalitha in a

conviction and obtained bail for her, which was earlier rejected.

P Chidambaram: Fees: Rs 6- 15 Lakh per appearance. Age: 73 years Before becoming a po l i t i c ian , Chidambaram was an attorney and

corporate lawyer. He completed his

THESE ARE INDIA'S HIGHEST PAID LAWYERS

66 Knowledge is the wing where with we fly to ultimate heights - Ramesh Kumar Bung.

Bachelor of Laws from the Madras Law College (now Dr. Ambedkar Government Law College). He was not so keen to join his father's business. He was more inclined to legal practice. He started practicing in the Madras High Court. By 1984 he was a senior advocate. His offices were in Chennai and Delhi. Eventually he became a practicing lawyer in the Supreme Court and other High Courts in India.

Abhishek Manu Singhvi: Fees: Rs 6- 15 Lakh per appearance. Age: 60 years Indian politicians Manu Singhvi is also a lawyer. Singhvi completed his Ph.D. under constitutional lawyer Sir William Wade of Cambridge University.

Singhvi, at 37, became the youngest Additional Solicitor General of India, in

1997. He held the position for a year, till 1998. He is former Chairman of the AICC All India Law and Human Rights Department and former Chairman, Parliamentary Committee on Law, Justice, Personnel & Grievances.

Harish Salve: Fees: Rs 6- 15 Lakh per appearance. Age: 64 years, Harish Salve specialises in constitutional, commercial and taxation law. He primarily practices at the Supreme Court of India but also appears in

various High Courts and in international arbitration, sometimes as counsel and

other times as an adjudicator. He served as the Solicitor General of India from 1 November 1999 to 3 November 2002.Harish Salve argued the first Anti-Dumping case in the Supreme Court of India. He frequently represents large corporations like Mukesh Ambani's Reliance Industries Limited. Other clients include the Tata Group and ITC Limited, whom he has represented on various matters. He has appeared for several Tata group companies. He has also appeared for Ratan Tata himself. In 2015, he took up the high-profile case of actor Salman Khan. In May 2017, he represented India before the International Court of Justice in the Kulbhushan Jadhav case. Jadhav was sentenced to death by a Pakistani military court on charges of spying. Due to his efforts, the International Court of Justice has ordered a provisional stay on

Jadhav's execution until a final verdict is declared. For this case he charged only Rs.

1(INR) in legal fees.

Aryama Sundaram: Fees: Rs 5.5- 16.5 Lakh per appearance. Age: 63 years He has been designated as a senior advocate. He has been regularly

representing Board of Control for Cricket in India, Anil Ambani and several other high-profile clients at various judicial forums. Sundaram primarily practices corporate law but also takes up constitutional law and media related cases. He was a lawyer in the S. Rangarajan case which resulted in one of the landmark judgments on the freedom of speech and expression.

Gopal Subramanium: Fees: Rs 5.5- 16.5 Lakh per appearance. Age: 61 years Indian lawyer and Senior Advocate who practices primarily in the Supreme Court of India and the Delhi High Court. In 1993, Mr. Subramanium was designated a

Senior Advocate suo motu by the Supreme Court, one of the youngest to be

so designated in the Supreme Court's history. He was acting as counsel (in 1991 - 1992) to a judicial commission headed by Justice J. S. Verma (then a judge of the Supreme Court) to inquire into security lapses leading to the assassination of Mr. Rajiv Gandhi, the former Prime Minister of India. Acted (in 1993) as 'prosecuting counsel for the Central Bureau of Investigation (CBI)' in the trial of persons accused of setting of a series of bomb blasts in Bombay. He acted as CBI's counsel in this matter till 2012 when appeals in this trial were heard by the Supreme Court. He acted as a special commissioner appointed by the Supreme Court in 1994-1995 to investigate into allegations on wrongful detention of persons in mental hospitals in the State of Assam. In 2001, he was appointed as counsel to a judicial commission headed by Justice K. Venkataswamy (a former Supreme Court judge), to inquire into sting operations carried out by a news publication to expose corruption in defence procurement transactions. He also acted as the Special Public Prosecutor in the prosecution of Ajmal Kasab, the sole surviving terrorist who carried out attacks on Mumbai in November 2008. Shortly thereafter, he acted as the Special Public Prosecutor in the prosecution of accused of the terrorist attack on the Indian Parliament in 2001.

Dushyant Dave: Fees: Rs 5.5-10 Lakhs per appearance. Senior Advocate, practicing in the Supreme Court of India at New Delhi. Mr. Dave has been at the bar for three decades during which he has appeared in

several thousand matters in various high courts and the Supreme Court. Mr.

Dave's field of practice is extremely wide and involves varied subjects like the Constitutional

67Class has little to do with wealth and position and a lot to do with how you conduct your life - Ramesh Kumar Bung.

Law, Administrative Law, Civil Laws, Corporate Laws and substantial work in Arbitration Law. He has appeared in many celebrated cases resulting in widely known decisions of the Supreme Court. Mr. Dave has been appointed Amicus Curie by the Supreme Court in matters involving substantial public interest. has been nominated by the Government of India, on the governing board of National Legal Services Authority, the APEX body created under the Law of Indian Parliament to administer and supervise Legal Aid in the country. Mr. Dave was on the LCIA Court from 2003 until 2008 and is currently the President of LCIA Users Forum for Asia Pacific. Member of the Board of AAA.

KK Venugopal: Fees: Rs 5- 15 Lakh per appearance. Age: 88 years Constitutional lawyer and a senior advocate in the Supreme Court of India. Venugopal served as President of the Union Internationale des Avocats (UIA -

International Association of Lawyers) from 1996 to 1997. Venugopal has

appeared in many high-profile cases. Most significantly, he was appointed by the Royal Government of Bhutan to serve as the Constitutional adviser for drafting of the Constitution of Bhutan. On 30 June 2017, he was appointed as the Attorney General of India under the leadership of Prime Minister Narendra Modi. The 86-year-old succeeds Mukul Rohatgi, who stepped down after the first term. Venugopal held the office of Additional Solicitor General in Morarji Desai's Government. He has appeared in a variety of cases in the last 50 years. Venugopal was appointed as amicus curiae to assist the Supreme Court in the high profile 2G spectrum case. He also appeared for BJP leader L K Advani in the Demolition of the Babri Masjid case, in which the apex court recently clubbed the two trials and held that BJP leaders, including Advani, Uma Bharti and Murli Manohar Joshi, will have to face trial along with karsevaks for demolition of the disputed structure. In 2015, he was conferred Padma Vibhushan award by Government of India. This is the second-highest civilian honour in India. He had previously received the Padma Bhushan, the third-highest civilian honour.

Salman Khurshid: Fees: Rs 5-11 Lakh per appearance. Age: 66 years. Indian politician Salman Khurshid is a designated senior advocate, eminent author and a law teacher. In 1977 he completed B.A.

68 Intelligence comes into being when the mind, the heart and the body are really harmonious - Ramesh Kumar Bung.

Welcome change for the opportunity it often brings

-PURSHOTAMDAS MANDHANA

69

Sreyan swa-dharmo vigunah para-dharmat sv-anusthitat |

Swa-dharme nidhanam sreyah para-dharmo bhayavahah ||

[It is far better to discharge one's prescribed duties, even though they may be faulty, than another's duties. Destruction in the course of performing one's own duty is better than engaging in another's duties, for to follow another's path is dangerous. – Bhagavad-Gita – Karma Yoga – Chapter- 3 – Sloka- 35]

Everything has an essential property and a non-essential property. Sweetness is the essential property of sugar. The non-essential property of sugar is, it can take the form of powder, crystals, cubes, etc., But the essential property of sugar is that it is sweet and there cannot be a bitter sugar.

Chillness is the essential property of ice. Ice can have many non-essential properties; it can have the shape of ice cubes, ice bars, powdered ice, snow, etc., But there cannot be hot ice. The non-essential property is the packaging, the manifestation.

The essential property is sweet for sugar, heat for fire, cold for ice; water has its essential property, air has its natural characteristics, and like this, every human being has an essential property. That essential property in a human being is called Swadharma.

The extent to which your life is aligned to that essential property, Swadharma, to the extent there will be flow and rhythm in your life. To that extent you will flourish in life. The entire struggle of life comes when somehow one attempts to make ice hot. That is like walking into failure because that is acting against its essential property. In the case of a human being, if one tries to go against the essential nature, struggle is inevitable. Eventually on looking back even a sense of failure may set in.

You are not designed or destined to fail; it is not that you lack capabilities or potential, but just that your attempts to live an entire life against your very nature. Becoming the being that you are supposed to be, i.e., even connected to your divine routes is spirituality. The Swadharma or the essential nature of each one of you has to be discovered and you need to live by it; choose actions or professions

that go with this fundamental basic nature in you.

Growth is to discover your nature, more importantly to create a life for yourself, which is aligned to your essential nature. If you have moved away from essential nature, it means you have moved away from your own connectedness. Some are natural businessmen and that is what they should be; some are dancers – they have to do whatever in life through dance; some or born to be teachers, some are born to be sales people, so on and so forth.

You have to observe what your essential nature is and discover it over a period of time. Initially you will know what not your Swadharma is; eliminate what you are not till you can find out what you are and then live a life aligned to that Swadharma in you.

On all the non-essential aspects of life adapt to the world; on all the essential nature of yours, teach the world to adapt to you. Becoming the being you were designed to be, is also an important process. Express your essential nature. Living aligned to your essential nature helps. If there is struggle in your life, it means you are not expressing your essential nature in life. Do not move away from your being, move into your being. Preserve the originality and see how life unfolds for you.

Ramesh Kumar Bung

WHAT IS

SWADHARMA?

Everything we experience from food to clothes to shelter,

The comforts and the luxuries we enjoy ......

Are all rewards from the work we do.

So, revere your workplace.

LET YOUR WORK BE YOUR PRAYER.

-UMESH CHAND ASAWA

Not to hurt and not to be hurt, that is the innocence of the heart - Ramesh Kumar Bung.

ARTIFICIAL ARTIFICIAL ARTIFICIAL INTELLIGENCE INTELLIGENCE INTELLIGENCE IN NEW IN NEW IN NEW

INDIAINDIAINDIAArtificial Intelligence (AI) is defined as the ability of machines to function like humans, like to perceive, reason, learn, interact with the environment, solve problems and even exercise creativity. There are varying views on Artificial Intelligence globally – some see this as the next biggest disruptive technology that would increase growth quickly, whereas others view it in pessimistic sense combined with huge job losses. It is estimated that the global AI market business opportunity of an additional $ 15 trillion – making it the highest commercial opportunity in today's fast changing economy. Let us demystify facts related to AI while providing some background on its evolution and recent interventions in this area.

What are the key cognitive skills that we associate with humans? Aspects like sight, vision, speech, comprehension, logical decision making, etc., that mainly what comes to one's mind. Research in the field of AI has been working towards developing machines that can imitate this human like cognitive and logical skills.

AI as a research topic in computer science has been around since the mid-1950s. Foundation of AI was laid during the 1950s by Alan Turing based on the published paper titled 'Computing Machinery and Intelligence' –with the aim of creating a machine that can mimic human intel lect and behaviour. Developing machines that match human intelligence in terms of logic, reasoning, speech, perception, reflex and interactivity has long been the aim of researchers. The fascination with robots that write articles, make art, ask philosophical questions, debate with us is ever growing. This theme of intelligent machines has been an idea primarily of researchers and science fiction movie makers. During 1996-97 an IBM computer by the name of 'Deep Blue' defeated the reigning

champion Garry Kasparov in a chess game. Though this was a great achievement in itself, the task performed by the Deep Blue machine was fairly logical in nature and did not involve deep human perceptions related to sight and speech.

The last few decades have seen a range of digital technology transformation that have brought back the relevance of AI backed with Big Data i.e., production and availability of immense amount of data. 1960-70 saw the rapid spread of digitalisation globally – all sorts of businesses banking, insurance to retail were moving from paper to electronic mode of operation. This led to the creation of huge amounts of data combined with the scale up of computing power and availability of massive data storage at reasonable cost. The reason millions of people can post so many things on Facebook everyday is because of this increase in computing power combined with the low cost Big Data, along with enormous increase in computation and low-cost storage gave a new lease of life to the field of artificial intelligence.

Some believe the invention of the deep learning algorithm is responsible for the new emergence of AI. The theoretical foundation of 'deep learning' algorithm supervised multilayer artificial networks (ANMs) was discovered in 1965. A neural network based deep learning algorithm is a rough emulation of a human brain. Imagine a child learning to speak 'Dad, Mom' or holding a pencil with a lot more retention and processing ability through the process of learning by viewing multiple examples. In 1965 there was hardly any availability of massive scale computation system o gigabytes and terabytes of data to train massive AI systems. In simple words, our child did not have enough examples to learn how to talk or learn. Aspects related to human speech, like understanding human conversation and framing and appropriate reply were considered very complex task for the humans to perform. Recent developments, however, have left us amaze. IBM's question answering system 'Watson' defeats the two greatest 'Jeopardy!' game playing in 2011. 'Jeopardy!' is a classic game show on American Television with a twist, in which answers are given first, and the contestants have to frame the questions based on clues supplied. The other complex task performed by humans is making sense of recognising observed by objects. An AI based system won the Image Net's image classification competition by a large margin in 2012. In the year of 2014 the Chabot by the name of 'Eugene Goostman' convinced large number of judges to believe it was human and thus passing the Tuning Test.

70 To take success and failure, good and bad, pain and pleasure equally is wisdom - Ramesh Kumar Bung.

These breakthroughs have been possible due to decades of research and availability of large datasets in the field of text mining/natural language processing (dealing with understanding of language), speech technology (automated understanding and generation of speech/audio), computer vision (automated analysis of images or videos) and robotics (performing intelligent physical actions). The 'AI Index' report by the Stanford University measures the performance of AI system against humans – tasks like speech recognition/comprehension and image recognition from objects have reached at par performance of the best AI systems. We can see it for ourselves with how person-like Siri and Google Home seem. In spite of all these developments, there are aspects of humans like empathy or smell which cannot be fully mimicked by machines and currently under research. Other than these cognitive abilities, general logical decision making is associated with humans – artificial intelligence machines can be trained for specific tasks based on range of methods like expert systems, prediction, optimisation, etc., Technology has not yet come up with machines which can mimic all aspects of human cognitive and logical ability.

AI in India: In the budget speech of 2018, FM said: 'Global economy is transforming into a digital economy thanks to the development of cutting edge technologies in digital space – machine learning, artificial intelligence, internet of things, 3 D printing and the like. Initiatives such as Digital India, Start Up India, Make in India would help India establish itself as a knowledge and digital society. NITI Aayog will initiate a national programme to direct our efforts in the area of artificial intelligence, including research and development of its applications'.

Today AI is viewed as a strategic technology that would lead to accelerated economic growth and development of nations. The impact of AI can go beyond nations to corporate enterprises in both private and public sector. Currently India is not considered as a leader in the AI space, in spite of having leadership position in IT services and service around AI/Big Data. There are fabulous examples of AI research labs, academia, start-ups or private players. Also, the practitioners working on ground have little technology knowledge for AI adoption. AI is a truly collaborative with the practitioners of technology domain has to collaborate with the practitioners of the application (ex: healthcare or agriculture) to develop the right solution. Again the insight derived by AI has to be delivered in the real-time to the users (doctors or farmers) which would require good internet connective and digital devices. Artificial Intelligence can play a crucial role in India's

inclusive growth and for that central and state governments have to come together and collaborate on the same.

In response to the budget speech, NITI Aayog (National Institution for Transforming India) came up with India's 'National Strategy for Artificial Intelligence in the month of June 2018 with the tag word # AI For All, implying that AI would lead to an inclusive growth for all Indians while focussing on five key sectors – health, education, agriculture, mobility and smart cities. The National Strategy lays the framework for achieving the same across four key aspects.

Focussed research in AI enabled by the setting up of Centres of Research Excellence (CORF) focussed on basic AI research; and International Centres for Trans format iona l A I ( ICTAI ) focussed on applied/domain specific AI research. Accelerated and early adoption of AI technologies in India enabled partnership and setting up of an AI Marketplace. Skilling is one of the key requirements for better research and adoption, which would be enabled through skilling in areas of AI technologies.

Ethics along with fairness, accountability and transparency are important aspects for wide adoption of AI, which would be enabled through setting up Centre for Studies on Technological Sustainability (CSTS). The broad AI Strategy for India is outlined by NITI Aayog, but given the true inter-disciplinary nature of AI, the subject would require intervention by several other departments in the government. Towards the same various efforts have been taken.

Department of Industrial Promotion and Policy (DIPP) under the Ministry of Commerce and Industry has come up with an inter-ministerial Task Force Report on Artificial Intelligence. The report discusses the application of AI on 10 domains relevant to India, v i z . , Manufactur ing, Finance, Heal thcare, Ag r i cu l t u re /Food Proce s s ing , Educa t i on , Retail/Customer Engagement, Aid for the Differently Abled/Accessibility Technology, Environment, National Security and Public Utility Services.

Ministry of Electronics and Information Technology (MEITY) which is in-charge of IT connectivity and online services across the country have also formed four committees on specific areas of AI: Citizen Centric Services, Data Platforms, Skilling and Re-skilling and R&D, Legal Regulatory and Cyber Security. Data is one of the core components for excelling in the field of AI; these data platforms would make data available and would also come up with regulations for protecting private data.

Meanwhile, the Department of Science and Technology (DST) which have been leading in

71Self-surrender should not be done to anything less than the Truth - Ramesh Kumar Bung.

research in the field of AI has recently come up with a report on Inter-Ministerial National Mission on INTER-DUSCIPLINARY CYBER PHYSICAL SYSTEMS (NM-ICPS). The repost focuses on the application of AI in areas of internet, robotics and intelligent hardware. Ministry of Defence has come up with multi-stakeholder Task Force comprising members from government services, academia, industry and start-ups to study the strategic implications of AI in the perspective of national security. The growing popularity of AI would bring multiple Indian vendors developing parts of AI system which needs to be inter-operable in nature with the global standards. Bureau of Indian Standards (BIS) has formed a committee to form the standards for AI in India which interacts with similar bodies across other countries to evolve technologically sound and mutually agreeable global standards.

AI Transforming India: Let us consider the same example of healthcare India has less than one (0.725) physician per 1000 persons and the number is even worse for the number of specialists per 1000 persons. Given the rate at which new physician or doctors are entering the system, this figure is unlikely to change in the near future. Hence a large number of rural healthcare centres face a shortage of doctors and function with only nurses on ground – the condition can be even worse in remote and tribal areas. Moving from nurses to shortage of trained medical staff even more acute for clinical specialists like radiologists or pathologists – professionals who spend most of the time looking at images to determine whether the patient had a certain disease. We have just seen the excellent performance of the AI based systems in tasks like image recognition. Here big data based artificial intelligence can help in bridge the skills gap and empowering the medical staff on ground. The AI based system will simply provide recommendations to the radio logis t s /pathologis t s by provid ing recommendations-that may simply review the case requiring much lesser time than carrying out detailed investigation. The clinical specialists on ground can concentrate their efforts on complex cases which require expert intervention and in the process, empowering them and making them more productive.

While attending to the patient, the nurse can enter the key patient symptoms and measurements into a hand-held device powered with AI. Based on the information about the patient symptoms and measurements, the device recommends the likely diagnosis and prescribes suitable medication-this may be further augmented with detailed explanation for

prescribing these medications. In this case, the nurse can administer a prescription that an experienced doctor would have prescribed. The nurse would also have the option not to accept the recommendation if it does not seem most suitable for the current patient condition. Again, these recommendations are provided based on big data based artificial intelligence algorithms running at the backend-which analyses the large amount of historic anonymous patient records with similar symptoms and prescribed medications. India faces large skill gap in sectors like healthcare and such AI based technologies can help in bridging that gap by empowering the citizens and making them more productive in their daily functioning.

The use of Artificial Intelligence in Precision Agriculture can monitor the agriculture land in real time and provide specific recommendations to the farmers-there are several pilots to this technology happening across various states of India, including the Aspiration Districts. Along similar lines, satellite imagery combined with AI can be used to gauge the cleanliness of surface water of Indian rivers including the mighty Ganges. There are several smart cities planned in India-where data from various aspects of the city management would be collected through sensors and IOT devices. These data would need to be analysed in real time using big data analytics combined with artificial intelligence for real time governance on ground.

Artificial Intelligence is the technology that has the potential to drive India's growth over the next few decades as seen from the examples above. This growth would primarily be driven by private players in the AI ecosystem with government enabling partnerships and early technology adoption, thus leading to growth of the Indian AI ecosystem. There is also a need to look at re-skilling people as this disruptive technology would create many jobs while displacing some existing ones.

AI and Skill Development: Andrew Ng, Professor at Stanford University and Co-founder of Coursera, termed AI as the new electricity in his famous quote: 'Just as electricity transformed almost everything, 100 years ago, today I actually have a hard time thinking of an industry that I don't think AI would transform in the next several years'. The applications of AI are unlimited in the Indian context-judiciary can use AI based systems to reduce pendency in court cases, education can develop learning modules which are in sync with the pace of the student's learning or in Agriculture AI based systems-based analysis of satellite imagery can provide early estimates of crop yields.

72 Your conscience is a good friend, listen to it more often - Ramesh Kumar Bung.

Reserve Bank of India Governor Shaktikanta Das asked state-owned banks to follow the new framework for resolution of stressed assets as well as to speed up the recovery process on Friday. He also addressed other issues in a pre-policy meeting held on July 19. The RBI said in a statement that the governor gave impetus to the resolution of stressed assets facilitated by the revised framework for resolution in a meeting with the CEOs of public sector banks and the Chief Executive of Indian Banks Association (IBA).

According to the new norms announced by the RBI on June 7, lenders will now have to enter into an Inter-creditor Agreement within a month of default, following which the consortium will meet a deadline of 180 days to implement the resolution plan. In a statement the RBI said that the "Governor acknowledged discernible improvements in the banking sector while underscoring that several challenges still remain to be addressed, particularly with regard to the stressed asset resolution and credit flows to needy sectors."

The Governor also pointed out that the level of transmission of monetary policy rates was "less than desired". The chiefs of state-owned banks and the Governor also discussed ways to improve recovery efforts. Improving fraud risk management and deepening digital payments were some of the other key issues discussed. The prompt to improve fraud risk management comes after yet another scam surfaced after Punjab National Bank and Allahabad Bank reported fraud of around Rs 5,000 crore by Bhushan Power and Steel. As for deepening of digital payments, the Governor has asked banks to identify one district in each state to make it fully digitally-enabled in a year in collaboration with all stakeholders, including SLBCs, state governments, and regional offices of RBI.

The customary pre-policy meet was attended by the top executives of around 20 lenders including State Bank of India, Bank of Baroda and Bank of India. The Monetary Policy Committee is scheduled to meet on August 5-7 to review interest rates.

Like other disruptive technologies, AI would bring in a shift of paradigm in the way people live and work today. Last big disruptive occurred when computers were first introduced in banks and other institutions across India-even leading to widespread protests. The computers brought in the Information Technology (IT) revolution, which made India the global leader in IT space-where home grown Indian firms are competing globally with the best IT companies of the world and India as the leader within the highest volumes of software exports.

When computers were introduced, there were hardly any IT skilled people in India and now has the largest talent pool of IT professionals. Similarly, a disruptive technology like AI would bring in a large disruption in the jobs-new skill would emerge and government has to play a pivotal role in re-skilling those people in the manufacturing sector, AI can lead to automatic moving people from low productivity jobs to high productivity roles. Adoption of any new technology, including the use of big data lead AI to empower the nurse in rural healthcare centre involves change management. This change management is an important aspect of any new technology adoption programme and can be the thin defining line between the success and failure of this change initiative. The nurse needs to equip herself towards the use of the digital platform which is intended to empower them-this might involve a bit of new skill development.

Lack of appropriate skilling also with new technology adoption often leads to the failure of such programmes and the new technology. This in turn is made responsible for the job loss due to this re-skilling gap. For example, a nurse might be well trained in handling the patient and taking observations but might not be well versed in using a handheld device, its various options, etc., In such case, the nurse who is an expert in her medical domain needs to be trained on appropriate digital skills which would empower her in her functioning with the help of artificial intelligence. Similar amounts of skilling have to be carried out across all domains affected by AI like agriculture, manufacturing, education and financial services like Banking, etc.,

AI would bring a huge momentum to India's economic growth and would bring with it interesting times as these disruptive technologies affect almost every aspect of human lives.

Badrinath Kilambi

DGM: IT

73

RBI Governor asks PSBs to follow resolution framework, improve fraud risk management

If you miss an opportunity, do not cloud your eyes with tears; keep your vision clear that you will not miss the next one - Ramesh Kumar Bung.

01. Credit Rating can be defined as current assessment of credit worthiness of an obligor (the one who wants to get rated) with respect to specific obligation (Ex: payment on due date for the fixed deposit raised); it can also be considered as an opinion of a credit rating agency on the future ability and legal obligations of the company being rated, to make timely payment of principal and interest.

02. Transfer of funds from one account to another account; payment of locker rent; payment of insurance premium and others.

03. Saka Samvat.

04. Creating short term deposits by transferring funds from loan accounts of borrowers and then crediting back after the year/half-year end; purchasing of cheques at par and crediting the amount to SB/CA of the customer or issuing short term deposit r e c e i p t ; s o l i c i t i n g a n d p u r c h a s i n g o f accommodation cheques for large amounts from corporate bodies by debit to clearing suspense account and sending the cheques only subsequently.

05. By depositors themselves; by the banker giving due notice; a customer having withdrawn his entire balance is not considered to have closed his account unless he gives a notice showing his intentions.

06. Transfer or issue of any foreign security by a resident of India and by a person residing outside India; any borrowing or lending in foreign exchange; export, import or holding of currency or currency notes; deposits between residents in India and residents outside India.

07. Devaluation is a process in which the government intentionally declares its own currency cheaper in terms of foreign currency.

08. To encourage inflow of capital in the country from outside by individuals, agencies, institutions, investors, etc.,; to improve the competitiveness of the goods and services exported from the country compared with international prices as in the international market the goods become cheaper compared with goods from other countries where currencies are not devalued simultaneously; to reduce imports by making the imports in the country costlier; to improve the balance of payment position due to increased exports and reduce imports.

09. September, 1949; June, 1966; July, 1991- in three phases- 01.07.1991, 03.07.1991, 15.07.1991.

10. Exchange rate interventions; exchange restrictions;

bilateral settlement of mutual claims; indirect methods like import restrictions and tariff, export subsidies and interest rate changes, etc.,

11. Balance of payments, inflation, interest rates, money supply, notional income, movement of capital and political stability.

12. Fixed rates, floating rates and flexible rates.

13. Ability to understand the customer; anticipate and manage the needs of the customer; interaction and relationship resulting in increased profitability through revenue and margin growth and operational efficiency.

14. Personalisation, customisation, one to many and many to many transactions; it permits business speed, agility and real time response to customers or markets through the new tools as e-mail, internet telephony, chat facility, call centres; e-CRM reduces the cost of customer contract.

15. E-mails, chat facility, call centres and computer telephony integration.

16. It is a card that a bank promotes jointly with another non-financial institution; it is used in the same way as a credit card.

17. It is a non-linked, non-participating single premium group term insurance plan; this plan offers an insurance cover on death of the group member during the policy term.

18. Population statistics obtained from census enumerations; returns of deaths registration offices and mortality statistics of insured lives.

19. Deposit of cash at bank branch as well as ATMs/CDMs; Receipt/credit of money through any e l e c t r o n i c c h a n n e l o r b y m e a n s o f deposi t /col lect ion of cheques drawn by Central /State Government agencies and departments; No limit on number and value of deposits that can be made in a month; maximum of 4 withdrawals in a month, including ATM withdrawals, ATM Cards or ATM-cum Debit Card.

20. 6.00 PM.

21. Asset Reconstruction Companies and adhoc sales to other lenders including banks.

22. Dr. Harsh Vardhan, Senior Advisor, Bain & Co.,

23. B o r r o w e r s w h o h a v e c o m m i t t e d fraud/malfeasance/wilful default will remain ineligible for restructuring of bank loans.

24. It is an act in which a lender, for economic or legal reason relating to the borrower's financial difficulty, grants concession to the borrower.

25. Modification of terms of the advances/securities, which would generally include among others; alteration of payment period/payable amount/the

ANSWERS

74 To smile at an enemy is to disarm him - Ramesh Kumar Bung.

amount of instalments/rate of interest; rollover of credit facilities; sanction of additional credit facility/release of additional funds for an account in default/enhancement of existing credit limits; compromise settlements where time for payment of settlement amount exceeds three months.

26. Scheduled Commercial Banks (excluding RRBs), All India Term Loans Institutions like NABARD, NHB, EXIM Bank, SIDBI, Systemically Important Non-Deposit taking Non-Banking Financial Companies and Deposit taking NBFCs.

27. ATMs, E-lobbies, Bunch Note Accepting Machines, Cash deposit Machines, E-Kiosks and Mobile Branches.

28. Point of Sale.

29. Extension Counters, Satellite Offices, Part-shifted Branches, Ultra Small Branches and Specialised Branches.

30. Kerala.

31. Jayashree Vyas.

32. Reserve Bank of India Act, 1934.

33. V.G. Kannan, Chief Executive, Indian Banks' Association.

34. To review the existing structure and pattern of costs, charges and interchange fees for ATM transactions; to review the overall pattern of usage of ATMs by cardholders and assess the impact on charges and interchange fees; To assess the entire gamut of costs in respect of ATM ecosystem; To make recommendat ions on the opt imal charge/interchange fee structure and pattern.

35. Call money, Repo, commercial Paper, Certificates of Deposit, Debt Instruments with original maturity less than one year, etc.,

36. July, 1, 2019.

37. It means a system provider, who by way of novation interposes between system participants in the transactions admitted for settlement, thereby becoming the buyer to every seller and the seller to every buyer for the purpose of effecting settlement of the transactions.

38. RBI has decided to conduct purchase of Government Securities under Open Market Operation for Rs. 125 billion on 20th June, 2019.

39. Early recognition and reporting of default in respect of large borrowers by banks, FIs and NBFCs; Complete discretion to lenders with regard to design and implementation of resolution plans, in supersession of earlier schemes subject to the specified timeline and independent credit evaluation; a system of disincentives in the form of a d d i t i o n a l p r o v i s i o n i n g f o r d e l a y i n

implementation resolution plans or initiation of insolvency proceedings; withdrawal of asset classification dispensations on restructuring. Future upgrades to be contingent on a meaningful demonstration of satisfactory performance for a reasonable period; signing of inter-creditor agreement (ICA) by all lenders to be mandatory, which will provide for a majority decision making criteria.

40. Funded Interest Term Loan.

41. AAA, AA, A1+ and BBB, etc.,

42. Wall, Pillar, Floor, etc.,

43. Individuals (savers), Intermediaries, Markets and Users of savings.

44. It accepts the risk from people and corporate bodies who are exposed to them; it collects small amounts of premium, which are pooled together to be called an insurance fund. This fund is used for investment purposes; it organises compulsory insurance in certain areas as per the provisions of the law; it sells voluntary insurance covers through its sales force.

45. It is an insurance marketplace situated in London.

46. To provide a nationwide trading facility for equities, debt instruments and hybrids; ensuring equal access to investors throughout the country through appropriate communication network; provision for a fair, efficient and transparency securities market to investors using an electronic trading system; meeting current international standards of securities market.

47. Book-building.

48. Rs. 200 denomination banknotes in the Mahatma Gandhi (New) Series having Mahatma Gandhi portrait and electrotype (200) watermarks.

49. Dematerialisation.

50. August 05, 2019.

51. Cash basis (same day), Tom basis (next day), Spot basis (two days after date of transaction).

52. Paper To Follow.

53. Rs. 100.

54. Motif of 'Hampi with Chariot'.

55. Indian Penal Code covers currency notes issued by a foreign government authority as well. In case of suspected foreign currency note received for opinion from the police and government agencies etc., they should be advised to forward the case to the Interpol Wing of the CBI, New Delhi after prior consultation with them.

56. A worldwide financial messaging network which exchanges messages between banks and financial

75‘’High expectations are the key to everything’’ – Ramesh Kumar Bung.

institutions. (Society for Worldwide Interbank Financ ia l Te l ecommun ica t ions . G loba l communication network that facilitates 24-hour secure international exchange of payment instructions between banks, central banks, multinational corporations, and major securities firms.)

57. Laying down priority sector lending requirements for banks; Lead Bank Scheme, establishment of Regional Rural Banks (RRBs-1975-76), Service Area Approach (1989), Self-Help Bank Linkage Programme (1989-90), Setting up of Local Area Banks, etc.,

58. It is the process of ensuring access to appropriate financial products and services needed by all sections of society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players.

59. It provides accidental insurance cover up to Rs. 1.00 lakh without any charges to the customer.

60. Credit Guarantee Fund Trust for Micro and Small Enterprises.

61. NPAs.

62. It is the cash equivalent and other assets which are easily convertible into cash.

63. Marking to Market.

64. Primary objective of which is the promotion of start-ups, generation of employment and wealth creation. It was launched in January, 2016. Startups are incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under Section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India. These enterprises can be called Startups ten years from the date of incorporation/ registration provided turnover for any of the financial years since incorporation/ registration has not exceeded Rs. 100 crore. The profits of the recognised start-ups are exempted from income tax for a period of 3 years out of 7 years since incorporation.

65. At the Bank for International Settlements (BIS).

66. It means a note which has become dirty due to normal wear and tear and also includes a two-piece note pasted together wherein both the pieces presented belong to the same note and from the entire note with no essential features missing; these notes should be accepted over bank counters in payment of government dues and for credit to accounts of the public maintained with banks.

67. Small and Marginal Farmers, Individual women beneficiaries up to Rs. 0.1 million per borrower, persons with disabilities and minority communities as may be notified by Government of India from time to time.

68. Inflation-linked bonds, Capital-indexed bonds, Floating-rate bonds and Bonds with embedded options.

69. Public Debt Act, 1944, Securities Contract Regulation Act, 2006 and Government Securities Act, 2006.

70. Money, Derivatives, Repo, Government Security Markets.

71. An Overnight Index Swap is an interest rate swap agreement where a fixed rate is swapped against a pre-determined published index of a daily overnight reference rate for an agreed period.

72. MSMEs are amongst the strongest drivers of economic development, innovat ion and employment; the MSME sector also contributes in significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises; the sector contributes about 45% of exports, over 28% of the GDP while creating employment for about 111 million people, which in terms of volume stands next to agricultural sector.

73. 2006. The purpose of MSMED Act is to provide enabling policy environment for promotion and development of the sector by way of defining MSMEs, putting in place a framework for developing and enhancing competitiveness of the MSME enterprises, ensuring flow of credit to the sector and paving the way for preference in Government procurement to products and services of the MSEs, address the issue of delayed payments, etc.,

74. 422.2 billion dollars.

75. Presenting data as a public good; Emphasising legal reforms; ensuring policy consistency; encouraging behaviour change using principles of behavioural economics.

76. Sri Tapan Ray, Non-Executive Chairman, Central Bank of India and former Secretary, Ministry of Corporate Affairs, Govt. of India.

77. Subhash Chandra Garg.

78. Nataraja Chandrasekharan, Bharat Doshi, Sudhir Mankad and Manish Sabharwal.

79. N.S. Viswanathan, Dr. Viral V Acharya, B.P. Kanungo and Mahesh Kumar Jain.

80. An activity which commenced from the late 80s with the introduction of ledger posting machines (LPMs); Advanced Ledger Posting Machines

76 Be grateful that you don’t have everything you want. That means you have the opportunity of being happier tomorrow than you are today - Ramesh Kumar Bung.

(ALPMs); Stand alone computer systems which metamorphosed into network based systems and; the latest development per taining to the installation of Core Banking Solutions (CBS).

81. Treasury Bill is an instrument of short term borrowing by the Central/State Government; It is a promissory note issued at discount and for a fixed period; It was first issued in India in 1917; It is issued to raise funds for meeting expenditure needs and also provide outlet for parking temporary surplus funds by investors.

82. They are instruments which have tenure over one year; they are considered risk free; the returns on dated securities are based on fixed coupon rate akin to corporate bonds.

83. Sovereigns are exposed to bank risks, and banks are exposed to sovereign risks. During the Euro area sovereign debt crisis, this two-way risk exposure was termed as 'doom loop' owing to its implication for systemic risk.

84. Mutual Funds are largest net providers of funds to t h e f i n a n c i a l s y s t e m ; f r o m a m a r k e t interconnectivity perspective, MFs are intertwined intimately with the rest of financial system; any disruption in the MF market has immediate and significant spill over in the asset markets; the issues with regard to credit concentration in MF portfolios as also more generally issues of valuation in fixed income markets and the spill over in money market rates highlighted by IL & FS induced dissolution were discussed in detail in the December 2018 FSR.

85. Foreign Exchange Dealers Association of India, Fixed Income Money Market & Derivative Association of India, Primary Dealers Association of India and Association of Mutual Funds of India.

86. Money Markets, Government Securities Market, Foreign Exchange Market and the market for derivatives on interest rate, currency and credit derivatives.

87. Forex market in India is predominantly a wholesale market, dominated by banks, forex brokers and corporate clients. Customers are priced off-market by banks; trading in forex and retail derivatives takes place OTC (over the counter) as well as on exchanges; forex market is largely and OTC market with an average daily volume of about USD 33 billion; exchange traded forex derivatives have an average daily volume of about USD 8 billion.

88. Call money market, Tri-party repos (TREPS), Market repos.

89. Introduction of an electronic screen based trading system; Dematerialised holding; Straight through processing; Establishment of the CCIL and CCP for guaranteed settlement, new instruments, changes

in the legal environment, etc.,

90. It is a temporary advance (overdraft) extended by RBI to the Government; Section 17(5) of RBI Act allows RBI to make WMA both to the Central and State Governments; the objective of it is to bridge the interval between expenditure and receipts.

91. Individuals, Corporations, Companies, Trusts, Funds and Associations.

92. Rs. 1 lakh.

93. Companies, Private Dealers, All India Financial Institutions.

94. NDS became operational in February, 2002. It was p lanned to fac i l i ta te the submiss ion of bids/applications for auctions/floatation of government securities through pooled terminal facility located at Regional Office of Public Debt Office across the country and through number of terminals. It can be used for daily Repo and Reverse Repo auctions under LAF.

95. Banks, Primary Dealers, Financial Institutions having Subsidiary General Ledger and Current Account with RBI.

96. Collateralised Borrowing and Lending Obligation. It is launched by CCIL. It is a mechanism to borrow and lend funds against securities for maturities of 1 day to 1 year.

97. Coupon rate is the interest/discount rate offered by a debt instrument; it is indicated on the bond/debenture/FD certificate. Actually the rate offered on each security is the coupon rate on that instrument; to refer it as interest rate complicates matter once we face the linkages with interest rate in the economy.

98. A cheque bears across its face two parallel transverse lines with or without words such as '& Co' or any abbreviation is called General Crossing. It can be converted to Special Crossing by the drawer or by any holder. As per Section 126 of Negotiable Instruments Act, it is a direction to the paying bank not to pay a cheque across the counter and should be paid to a bank only.

99. A drawer, at the time of issue; A holder; A bank who receives the cheque for collection – in terms of Section 125 of N I Act.

100.The Clearing Corporation of India Ltd. provides clearing and sett lement services for the transactions in the money markets, government securities markets, foreign exchange markets, derivative markets, etc. and carries out related activities in India.

ANSWERS

77When sorrow ends completely, there is love - Ramesh Kumar Bung.

78 Your happiness is determined more by your disposition than by your circumstances - Ramesh Kumar Bung.

Banks have reached a tipping point where they need to shift from an inside-out perspective, to an outside-in approach, where there is an emphasis on serving customer needs in a holistic manner. There is a need to reimaging banking business models and engender a new way of doing banking across transactions, payments, savings, borrowings and investments by leveraging technology to improve productivity as well as customer orientation with emphasis on converting the challenges into opportunity. The Growing middle class, expanding working age population and increasing disposable income levels in the country are some of the factors that are expected to propel the growth of the industry in coming years. Moreover, government of India's initiatives towards attaining financial inclusion like Pradhan Mantri Jan Dhan Yojana, and other schemes has led to an accommodating regulatory regime which will further offer necessary support to this growth.

Founded in 1925, Indian Chamber of Commerce (ICC) is the leading and only National Chamber of Commerce operating from Kolkata, and one of the most pro-active and forward-looking Chambers in the country today. Its membership spans some of the most prominent and major industrial groups in India. ICC's forte is its ability to anticipate the needs of the future, respond to challenges, and prepare the stakeholders in the economy to benefit from these changes and opportunities.

ICC also has a very strong focus upon Economic Research & Policy issues - it regularly undertakes Macro-

Even though Venus isn't the closest planet to the sun, it is still the hot tes t . I t has a th ick atmosphere full of the greenhouse gas carbon-dioxide and clouds made of sulphuric acid. The gas traps heat and keeps Venus toasty warm. In fact, it's so hot on Venus; metals like lead would be puddles of melted liquid.

Venus looks like a very active planet. It has mountains and volcanoes. Venus is similar in size to Earth. Earth is just a little bit bigger.

Venus is unusual because it spins the opposite direction of Earth and most other planets. And its rotation is very slow. It takes about 243 Earth days to spin around just once.

economic Surveys/Studies, prepares State Investment Climate Reports and Sector Reports, provides necessary Policy Inputs & Budget Recommendations to Governments at State & Central levels. ICC has organized the Banking Summit for 4 successful editions annually in Mumbai and has witnessed over 150 attendees from Banks and financial services companies of the industry and leaders from the corporate and Regulatory areas address us on key topics.

The 5th Flagship – New Age Banking Summit 2019” with the theme “Banking for Emerging India” seeks to provide a platform for industry stakeholders to work out a road map for unleashing the true potential of the sector. The discussions at the forum would focus on the ongoing changes including the evolution in the Banking Industry, Customer Behaviour and satisfaction, Technological disruptions, Payment banks, Digitization and Cyber Security with a view to understand the influence of these developments on Banking business and explore the need for operational and technological excellence, to create a backend infrastructure that enables transparent, easy and cost-effective lending and also the way forward in the new age economy.

The summit will bring together leading Bankers, Regulators , Government Exper ts , Corporate professionals and other stakeholders enabling them to discuss various opportunities and challenges in the New Age Banking and other key issues in this sector on a common platform.

Because it's so close to the sun, a year goes by fast. It takes 225 Earth days for Venus to go all the way around the sun. That means that a day on Venus is a little longer than a year on Earth.

Since the day and year lengths are similar, one day on Venus is not like a day on Earth. Here, the sun rises and sets once each day. But on Venus, the sun rises every 117 Earth days. That means the sun rises two times during each year on Venus, even though it is still the same day on Venus! And because Venus rotates backwards, the sun rises in the west and sets in the

east. Just like Mercury, Venus doesn't have any moons.

A. V. Rama Rao

INDIAN CHAMBER OF COMMERCE ANNOUNCES ITS 5TH FLAGSHIP – NEW AGE BANKING SUMMIT

What is Venus like?

79Look for acceptable but creative ways to distinguish yourself from everyone else - Ramesh Kumar Bung.

During his trip to Rajasthan, Sri Umesh Chand Asawa, MD & CEO visited our Bhilwara Branch. On 26th of July, 2019, he participated in the tree plantation programme in the Bhilwara town near the vicinity of the branch which celebrated the Environmental Day. On this occasion, he launched the App of Bhim MaheshPay. Branch Manager Sri Rajesh Jain has welcomed Sri Asawa. Other eminent persons of the town and staff of the branch have taken part in the event along with Sri Asawa.Sri Asawa stated that every year 500 million trees are planted in the world. But, twice to this number, 1000 million plants are cut by the people. Now, while there are only 422 trees left per person left in the world, a mere 28 trees remained per person in India. As a result, ecological imbalances are taking place. This disaster can be stopped only by plantation of trees and forestation. Deforestation is detrimental to the nature and causes frequent calamities, Sri Asawa further said. He emphasised that long lasting trees like Polyalthia, Asoka, Margosa, Pipal, Neem, Banyan, Jambo etc., should be grown which provide abundant Oxygen and health to the society.

Observed for the first time in 1989, World Population Day falls on 11 July every year. The day aims to raise awareness about sustainable existence by drawing attention to the population's role in it and linked factors like size, ageing, and rate of growth and so on, according to the United Nations. It further aims to start a dialogue and address urgent issues related to world population.Twenty years ago in 1994, 179 governments had come together to emphasize the role of reproductive health and gender equality in achieving sustainable existence. This year, there has been a call for global attention to those issues discussed by the International Conference on Population and Development that still remain unresolved.According to UN estimates, 83 million people are added to the global population annually. World population is expected to reach 8.6 billion in 2030, 9.8 billion in 2050 and 11.2 billion in 2100. When it comes to India, current population stands at 133 crores, and it's on its way to

ECOLOGICAL IMBALANCES WILL BE REDUCED ONLY BY GROWING TREES – Umesh Chand Asawa

become the world's most populous country with 1.6 billion by 2050. Both birth and death rates are very high in the country, according to this report, higher than in many other countries. Birth rate refers to the number of children born per thousand people annually. Death rate is the number of people dying per thousand in a year.The same report points out that in 2000, India's birth rate was at 25.8 per thousand while the death rate was 8.5 per thousand. This was in contrast with England's birth rate of 12 and death rate of 11 and USA's birth rate of 15 and death rate of 8.

Additionally, it is interesting to note that an average woman's fertility rate in India dropped from 5.6 in 1969 to 3.7 in 1994 to 2.3 in 2019, reportedly. Improvement in the life expectancy at birth was also noted - from 60 years in 1994 to 69 years in 2019.

Sandhya Rani PatnaikHO: F&A

A Look at India's Numbers on

World Population Day

80 It is good for a person to earn money for his needs. It is the hunger for wealth that is bad - Ramesh Kumar Bung.

PAN Holder Alert! If you fail to do this, you will not be able to use PAN

If you already have the PAN card and are eligible to obtain Aadhaar number or you have already acquired one, then you are required to intimate the Aadhaar number to the Income Tax department. Your PAN Aadhaar linking needs to be completed else the PAN will become 'inoperative'. Presently, under Section 139AA (2), the PAN allotted to a person shall be deemed to be 'invalid', in case the person fails to intimate the Aadhaar number. However, going forward, if a person fails to intimate the Aadhaar number and link PAN with Aadhaar, the PAN card will be made 'inoperative'.

Earlier, the PAN Aadhaar link was to be completed by March 31, 2019, after which they would have become invalid. However, the last date to link PAN with Aadhaar was extended till September 30, 2019. The last date of 30th September still stands but as per Budget 2019, the operative word has been proposed to be changed from 'invalid' to 'Inoperative', with effect from September 1, 2019.

Importantly, the amendment as proposed in Union Budget 2019 makes the distinction between making the PAN 'invalid' and 'inoperative.' While the former would have construed that the process to apply and the transactions are done using it may stand invalid, the latter makes it inoperative for future dealings even while the past transactions still stand to legal scrutiny. If the PAN is treated as invalid, the current provisions suggest that the assessee had never applied for PAN which could have made the past transactions using it fall in legal hassles.

The PAN Aadhaar linking last date is September 30, 2019, after which the PAN will become inoperative. Once the PAN becomes inoperative, one will not be able to undergo several transactions where PAN is required to be quoted mandatorily. The income tax department has specified 18 financial transactions where quoting of PAN is mandatory by the individual. In such cases, the transactions could be carried out only when the PAN and Aadhaar are linked thus making the PAN re-active.

To link Aadhaar with PAN card, one may go to the e-filing website of the income tax department. One may use log-in credentials or even without logging, the linking of Aadhaar and PAN can be done. The income tax department has made it clear that for filing of ITR, Aadhaar and PAN linkage is mandatory unless specifically exempted.

Aadhaar PAN name mismatch? Don't panic! Here's how to match PAN name and Aadhaar Card name: If you want to update your name in Aadhaar Card database you can do it online or at an enrolment centre. Aadhaar-PAN name mismatch: If you are trying to link your Aadhaar Card with the PAN Card but it is not happening, you need to check details registered with PAN and Aadhaar cards. If you want to link Aadhaar Card with PAN, you need to make sure that your demographic details such as date of birth, name and gender should match in both the documents. Unique Identification Authority of India (UIDAI) issues Aadhaar Card, which is a verifiable 12-digit identification number. It is issued free of cost. The Income Tax Department issues the ten-digit alphanumeric identifier which is Permanent Account Number (PAN). One must remember that each assessee – individual, firm, company etc – gets a unique PAN.

How can I match my PAN name and Aadhaar Card name?: Often people search for what would happen if names in PAN and Aadhaar Card mismatch. If your name is different in PAN and Aadhaar Card, you will face difficulties in linking your PAN and Aadhaar Card. If there is a minor mismatch in the name registered with Aadhaar Card with that of PAN, you will get an Aadhaar One Time Password (OTP) on your mobile number that is registered with Aadhaar card. However, to get that OTP, PAN cardholders must ensure that details pertaining to gender and date of birth in Aadhaar and PAN remain the same. If names in the Aadhaar and PAN mismatch completely then the linking will fail. In that scenario, the concerned individual will need to make the necessary changes in either PAN database or Aadhaar.

How can I change my name on Aadhaar Card?: If you want to update your name in Aadhaar Card database you can do it online or at an enrolment centre. If you want to change your name on the Aadhaar Card, you need to visit SSVP Portal. You need to select the fields which you want to update or change. Subsequently, you need to fill the data in the selected fields. You need to submit the form and a Unique Request Number (URN) will be generated.

Then you need to select the BPO for review of update. After that, you need to attach the original scan of the supporting document. Finally, you can check the Aadhaar update status by using the URN. If you want to change the name in Aadhaar card in the traditional way you can visit an enrolment centre. You can also download the Aadhaar update format -https://uidai.gov.in/images/aadhaar

_enrolment_correction_form_version_2.1.pdf .

How can I change my name on PAN Card?: If you want to update your name in PAN, you need to visithttps://www.onlineservices.nsdl.com/paam/endUserRegisterContact.html. You need to selection Application Type – Changes or Correction in existing PAN Data/Reprint of PAN Card (No changes in existing PAN Data).

You need to fill in other application information such as Title, Last Name, First Name, Date of Birth, Email Id, PAN Number. After that confirm that whether you are a citizen of India or not and submit captcha code.

After that, a Token Number will be generated and you need to continue with PAN Application Form. You can get the PAN correction form online

N. Visweswara ShastryHO : FED

Sri Umesh Chand Asawa, MD & CEO bidding farewell to Sri K. Laxman (Emp: 0078), Sub - Staff, Malkajgiri branch who retired on attaining superannuation on 31.07.2019. Sri A. Masthan Reddy, JGM, Sri KVVS Prasad, DGM (HR) and Sri G. Nanda Kumar, Manager (HR) present on the occasion.

BIDDING FAREWELL

81Try to make all the people you meet feel like they are the most important persons you have seen all day - Ramesh Kumar Bung.

82 The more love you give, the more you receive, the more you have the easier it becomes to give - Ramesh Kumar Bung.

Dragonfly will launch in 2026, if all goes according to plan.

The space agency announced (June 27) that the next mission in its New Frontiers line of medium-cost missions will be Dragonfly, a rotorcraft designed to ply the skies of the huge, hazy and potentially life-hosting Saturn moon. If all goes according to plan, Dragonfly will launch in 2026 and land on Titan eight years later, NASA officials said. The probe will then spend at least 2.5 years cruising around the 3,200-mile-wide (5,150 kilometres) moon, making two dozen flights that cover a total of about 110 miles.

The 10-foot-long (3 meters) Dragonfly will gather a variety of data at each of its stops. Such work will help scientists learn more about Titan, the only solar system body other than Earth known to host stable bodies of liquid on its surface. Titan's surface lakes, rivers and seas aren't composed of water, however: The frigid moon's climate system is based on hydrocarbons, in particular methane and ethane.

The mission is geared toward characterizing Titan's chemistry in detail. Complex organic molecules are known to swirl in the moon's thick, nitrogen-dominated atmosphere, and some scientists think its hydrocarbon seas could host exotic forms of life. Titan also hosts another potentially habitable environment — a buried ocean of liquid water, which sloshes beneath the moon's icy crust.

Dragonfly could conceivably find evidence of Titan life, if the moon is indeed inhabited. And, because Titan is very similar to the early Earth, the mission's observations may shed light on the chemical processes that helped life get going on our planet, NASA officials said. "Titan is unlike any other place in the solar system, and Dragonfly is like no other mission," Thomas Zurbuchen, NASA's associate administrator for science at the agency's headquarters in Washington, D.C., said in a statement.

"It's remarkable to think of this rotorcraft flying miles and miles across the organic sand dunes of Saturn's largest moon, exploring the processes that shape this extraordinary environment," he added. "Dragonfly will visit a world filled with a wide variety of organic compounds, which are the building blocks of life and could teach us about the origin of life itself."

Dragonfly will land among Titan's dunes, then make its way toward its final destination, the 50-mile-wide (80 km) Selk Crater. Selk is a particularly good place to study pre-biotic chemistry and look for signs of life, NASA officials said. T h a t ' s b e c a u s e t h e t h r e e ingredients necessary for life as we know it — liquid water, organic molecules and energy — mixed during the impact that created the crater. (Titan's bedrock is water ice.)

Dragon f l y w i l l be nuc l ea r powered, like NASA's Mars rover Curiosity, the New Horizons Pluto probe and many other deep-space explorers. Dragonfly will be the fourth mission in the New Frontiers program, following New Horizons, the Juno probe to Jupiter and the OSIRIS-REx as tero id-sampl ing miss ion. Dragonfly's development costs are capped at $850 million, though the mission's total price tag, including launch, will probably top $1 billion.

The other finalist for the mid-2020s New Frontiers launch slot was the Comet Astrobiology Exploration Sample Return (CAESAR) mission, which proposed snagging bits of Comet 67P/Churyumov-Gerasimenko — the same icy wanderer studied up close by Europe's Rosetta mission. Dragonfly won't be the first craft to land on Titan. That honour belongs to Europe's Huygens probe, which touched down on the moon in January 2005. Huygens travelled to the Saturn system with NASA's Cassini spacecraft, which orbited the ringed planet from mid-2004 through September 2017.

NASA IS SENDING

A LIFE-HUNTING

DRONE TO

SATURN'S HUGE

MOON TITAN

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