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SCUF—News Letter—Breeze— March, 2013
Women are the real architects of Society.
Special points of interest:
CTS 2010
Union Budget 2013-2014
An Achiever in Doctorate
ESI - Smart Card Camp
Women’s Day
Inside this issue:
Q & A on CTS 2010 2
Highlights of Budget 2013-14 3
Messg. from TED — An Achiever 5
Greetings from TED 6
ESI - Smart Card 7
Women’s Day 8
1st March, 2013 Thisai: South Thendral: 12
The Editorial committee proudly presents the
40th Issue of our News Letter ― Breeze ―
From March 2010 to March 2011 (13 Issues) From April 2011 to March 2012 (14 Issues)
From April 2012 to February 2013 (12 Issues)
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SCUF—News Letter—Breeze— March, 2013
5. Is it possible to briefly explain the entire process flow in CTS?
Yes. In CTS, the presenting bank (or its branch) captures the data (on the MICR band) and the images of a cheque using their Capture System (comprising of a scanner, core banking or other application) which is internal to them, and have to meet the specifications and standards prescribed for data and images.
To ensure security, safety and non-repudiation of data / images, end-to-end Public Key Infrastructure (PKI) has been implemented in CTS. As part of the requirement, the collecting bank (presenting bank) sends the data and captured images duly signed and encrypted to the central processing location (Clearing House) for onward transmission to the paying bank (destination or drawee bank). For the purpose of participation the presenting and drawee banks are provided with an interface / gateway called the Clearing House Interface (CHI) that enables them to connect and transmit data and images in a secure and safe manner to the Clearing House (CH).
The Clearing House processes the data, arrives at the settlement figure and routes the images and requisite data to the drawee banks. This is called the presentation clearing. The drawee banks through their CHIs receive the images and data from the Clearing House for payment processing. The drawee CHIs also generate the return file for unpaid instruments, if any. The return file / data sent by the drawee banks are processed by the Clearing House in the return clearing session in the same way as
presentation clearing and return data is provided to the presenting banks for processing. The clearing cycle is treated as complete once the presentation clearing and the associated return clearing sessions are successfully processed. The entire essence of CTS technology lies in the use of images of cheques (instead of the physical cheques) for payment processing.
6. What type of cheques can be presented for clearing through CTS?
All types of cheques can be presented for clearing through CTS. It is no different from the use of traditional clearing infrastructure for clearing paper cheques. Cheques presented as part of Speed Clearing are handled in CTS as well (for more details on Speed Clearing, the related FAQs may be referred to). Incidentally, given the fact that images of cheques (and not the physical cheques) alone need to move in CTS, it is possible for the removal of the restriction of geographical j ur isdict ion normally associated with the paper cheque clearing. For reaping this benefit , the concept of Grid-CTS clearing is being envisaged as part of roll-out of CTS at Chennai. Under the grid clearing, cheques drawn on centres included in the grid will be cleared as part of local clearing.
7. Will there be any change in the process for the customers?
No. There is no change in the clearing process for customers. Customers continue to use cheques as at present, except to ensure the use of image-friendly-coloured-inks while writing the cheques. Of course, such of those customers, who are used to receiving the paid i n s t r u m e n t s ( l i k e government departments) would also receive the cheque images. Cheques with alterations in material fields (explained in detail later) are not allowed to be processed under the CTS environment.
………in next issue.
The source of this article is from RBI Website
www.rbi.org.in under FAQ’s
By
R SANKER Internal Audit
Shriram City Union Finance Ltd
221, Royapettah High Road, Mylapore, Chennai 600 004
Cheque Truncation System (CTS) Contd…….
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SCUF—News Letter—Breeze— March, 2013
FINANCE BUDGET 2013-2014
The Finance Budget for the FY 2013 – 2014 was presented by the Finance Minister, Mr. P Chidambaram, on 28th February which has been described by many as
―Politically correct, Economically, not wrong‖, ―Low voltage‖,
―Fiscally Prudent but Politically Pragmatic‖
DUTIES & TAXES
No Revision in Personal Income -Tax Slabs
Surcharge of 10% on income above Rs.1 crore
Tax Credit of Rs.2000 for income upto Rs.5 lakhs
1st home loan upto Rs.25 lakh eligible for additional interest deduction
upto Rs.1 lakh
Excise Duty Hike on Airconditioned Restaurants, SUVs, Smart Phones,
Cigarettes
Import Duty on Precious Stones down from 10% to 2%
TDS of 1% on the value of the transfer of Immovable Properties where consideration exceed Rs.50 lacs.
(Agri. land exempted)
BANKING & INSURANCE
Post Offices to be made part of Core Banking – to open ATMs & provide
Internet & Mobile Banking
All Public Sector Banks to have ATMs at their branches by 2014
India’s first ―All-Woman‖ PSU Bank proposed
Banks allowed to act as Insurance Brokers
1 LIC office & 1 GIC office to be set up in all towns with population of 10000
& above
INFRASTRUCTURE
Separate Funds for empowerment of Women, Youth & Senior Citizens
10000 buses to be added to the existing Public Transport System
289 cities to get private radio FM stations
Natural gas pricing policy to be reviewed
Nalanda University to be reconstructed
Funds allocated for development of Siddha, Unani, Ayurveda & Homeopathy
Urban Housing Fund to be set up on the lines of the existing Rural Housing Fund
Likely IMPACT for THE SHRIRAM GROUP
Additional Interest Deduction for 1st Housing Loan, which can be carried forward to the next year as well, if not exhausted, to make Housing Loans
more attractive
Low cost housing to get a fillip with setting up of Urban Housing Fund
Easing of procedures for Infrastructure projects & Recognition of Renewable
Energy sector to spur growth
Relaxation in investments norms in MSME sector to promote growth
Insurance companies can now open branches in Non-Metro Cities without approval from IRDA
Highlights of Union Budget 2013-2014
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SCUF—News Letter—Breeze— March, 2013
Railway Budget 2013 -2014 - At a glance
RAILWAY BUDGET 2013 – 2014
FARES
No hike in Basic Passenger Fares
Reservation Charges increased for First Class in the range of Rs.50 –Rs.60
Reservation Charges increased for AC Class in the range of Rs.40 – Rs.50
Supplementary Charges for Superfast Trains raised between Rs.5 & Rs.25
Tatkal Booking Charges increased in the range of Rs.25 – Rs.100
Cancellation Charges increased for all Classes between Rs.5 – Rs.50
Across the board increase in Freight Charges by an average of 5 to 8%
No increase in Parcel & Luggage Rates
INFRASTRUCTURE
Introduction of 72 additional services from Mumbai, 18 from Kolkata
67 new Express trains; 26 new Passenger Services; 8 DEMU & 5 MEMU
services
Run of 57 trains to be extended; Frequency of 24 trains to be increased
500 km new lines proposed; Doubling of 750 kms of lines; Gauge Conver-
sion of 450 kms of lines
1.52 lakh vacancies to be filled in
―Executive Waiting Lounges‖ in stations like Bangalore, Vizag, Patna,
Jaipur, Agra, Nagpur & Bilaspur
Mechanized Cleaning facilities & On-board Housekeeping schemes in more Stations & Trains
NEX-GEN
Internet Ticketing to be available from 0030 hrs to 2330 hrs
E-ticketing to be available through Mobile Phones
Provision of free Wi-Fi facilities in several trains
New system to support 7200 tickets per minute – up from 2000 at present &
120000 simultaneous users – up from 40000 now.
SMS Alerts to provide updates on Reservation Status
Linking of tickets with Aadhar cards
By
Sandhya Iyer Head
Information Systems,
Santhome Office.
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SCUF—News Letter—Breeze— March, 2013
Message from TED
Dr. Sri Sunil Kumar
FW –Product Head – UP
Doctorate Degree in Chemistry
awarded on 15.02.2013.
Dr. Sri Sunil Kumar
has done the research programme in Chemistry , topic being
―Studies on Removal of Dyes from Industrial Waste Water.‖
He has worked on the industrial waste water surrounding Ganga River for the
research work.
He has been awarded with the degree of “Doctor of Philosophy” in the year 2002 in Chemistry by the Veer Bahadur Singh Purvanchal University, Jaunpur,
Uttar Pradesh, on 15.02.2013.
About Sri Sunil Kumar:
Joined ShriramCity as Asst. Branch Manager at Varanasi, UP, on 01.07.2007.
Best Branch Award winner twice at the Annual Conference of our Company both in Srilanka and Hyderabad.
About his family:
Father is a retired Principal from Kamlapati Inter College, Varanashi.
Mother is a house-wife.
Elder brother is an advocate in Varanashi.
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SCUF—News Letter—Breeze— March, 2013
Message from TED
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SCUF—News Letter—Breeze— March, 2013
ESI Smart card camp organized at Jaipur Office
An ESIC Smart Card camp was organized on 18/02/2013 in partnership with ESI at our Jaipur office. It was conducted with sole purpose of giving our employees Smart card service along with creating
an awareness of ESI benefits.
It was organized by Mr. Vinay Pandey, TED Team, North.
Brief highlights of the event
85 employees along with family walked in our Jaipur office premises
employees from 7 locations of Rajasthan were covered
2 ESI officials participated and conducted the drive
All members were photographed & biometric prints were taken for smart card generation
Previously with only TICs, benefits under ESIC were very limited
The drive was conducted free of cost
Various ESI benefits were explained by TED & ESI officials in camp
ESI smart card offers following benefits to our employees
Medical treatment is available in any ESI drug centre and hospitals of India.
As per rule, Smart card will be accepted (valid) for life long, no wary about renew TIC
No need to take new card, when you are changing the office or Location.
Employee & employee family member’s details can change without any objection.
The person who is insured in future his health record will be available at online in all India ESIC cents.
ESI official can easily track information about the member with smart card
Smart card camp motivate to employee for carry ESIC card & reduce ESIC query
A member of Staff of ShriramCity with family undergoing the procedure
By
Sri KETAN GARG
Talent Engagement & Development|
North Head Office
Message from TED
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SCUF—News Letter—Breeze— March, 2013
International Women's Day was first celebrated on March 19 (not the later March 8), 1911. A million women and men rallied in support of women's rights on that first International Women's Day.
The idea of an International Women's Day was inspired by America's National
Women's Day, February 28, 1909, declared by the Socialist Party of America.
The first Russian observance of International Women's Day was in February 1913.In 1914, with World War I erupting, March 8 was a day of rallies of women
against war, or women expressing international solidarity at that time of war.
In 1917, on February 23 -- March 8 on the Western calendar -- Russian women organized a strike, a key
beginning of events resulting in the czar being toppled.
The holiday was especially popular for many years in Eastern Europe and the Soviet Union. Gradually, it
became more of a truly international celebration.
The United Nations celebrated International Women's Year in 1975, and in 1977, the United Nations officially got behind the annual honoring of women's rights known as International Women's Day, a day "to reflect on progress made, to call for change and to celebrate acts of courage and determination by ordinary women who
have played an extraordinary role in the history of women's rights.(1)".
With each passing year International Women's Day grew from strength to strength annually. 1975 was designated as 'International Women's Year' by the United Nations. Women's organisations and governments around the world now observe International Women's Day annually on 8 March by holding large-scale
events that honour women's advancement.
In 2011, the 100th anniversary of International Women's Day resulted in many celebrations around the world, and more than usual attention to International
Women's Day annually on 8 March, thousands of events are held throughout the
world to inspire women and celebrate their achievements.
A global network of rich and diverse local activity connects women from all around the world ranging from political rallies, business conferences, government activities and networking events through to local women's craft markets, theatrics perform-
ances, fashion parades and more.
By Gauri Shinde & Pooja Tipsey Pune Branch.
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From Editorial Desk:
Communication Address:
Editorial Committee, (News Letter—Breeze)
ShriramCity Santhome Office, Chennai—600 004 Phone: 43925300
Email: [email protected]
Editorial Committee
Shri K.Subramaniam Senior Consultant, HO.
Smt M.Subhashree TED., Santhome Office
Sri M.Radhakrishnan
Consultant, Santhome Office
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