BEATING THE STRESS

People, nowadays, talk of stress quite often. They cite reasons like work-related, domestic problems, health, etc., These are common in a person’s life and one has to face all these and come out successful to make his life meaningful. Even great people faced several challenges so far in their lives but felt stress only when happenings were beyond their control or through no fault of them.

Let us start thinking why people talk more of stress these days. Everyone has a reason, but all are not genuine. Take the case of a student preparing for public examination like SSC or Intermediate. It is genuine to stretch a little further to score marks more than normally scored. Is it right then, that when preparing with a mission, that a failure means life comes to an end? Expectations should be genuine and with an open mind and personal involvement, with alternatives in place to face the reality. When that is not the case, feelings of stress creep in. When the mind is confronted with multiple tasks at a time, stress is felt. Playing smart is not good at all times. Depending too much on technology also leads to stress.

There is a saying, ‘do one thing’, ‘do well’ and ‘do it today’. We all further know that ‘when in Rome, do as the Romans do’. If we look deeply, both the above sayings convey one thing in common – do things according to the need of the situation. After all, the definition for accident, I learnt from a Traffic Police Officer is, is too many things trying to occupy the same point at the same time. Hence, do things one at each at a time based on priority. Situations may arise when competing things of priority challenge us at a time. Be calm and clean and

talk to your near and dear ones or seniors and then act. If the situation is such that consulting is also not possible, that too is not a problem – act according to your conscience and be open and prepared to accept the outcome. Openness and honesty are appreciated by all and always save a person from the worst.

Today we perform most of our acts with the help of a machine. We have stopped attending to our needs by stretching our body. We use vehicles instead of walking, lifts instead of staircases, scrolling the cell phone while walking on the roads or travelling, using hands-free accessories to stop using our hands frequently, etc., Even where we need to think and act, instead of thinking, we rush to surf the websites to find quick solutions. Even at work, we don’t move around frequently and use technology to reach out to our colleagues. We do all these things with pride, saying we are a techie. The body thus becomes used only for restricted purposes while the mind is continuously trying to do multiple tasks. Unless and until the body and the mind work in tandem, stress is the natural outcome.

In one of the team meetings, when the topic of stress busting was discussed, the boss said with a smile that he used to help his wife in the kitchen by helping her cut vegetables or grate coconuts, etc., His response evoked laughter from all and created an impression that the boss was making fun of the situation. He continued and said that it was not a laughing matter; for the person, who was doing it, rather it was an enjoyable thing to do with pride and it helped to relieve stress. What is wrong in doing these things? After all, is this not our duty to take care of the needs at home as we do in the office?

Both official work and work at home are equally important and need application of mind to ensure peace and prosperity in life. When

helping wife in kitchen, it enables the person to discuss the happenings of the day while tasting the preparations silently until a reminder comes from the wife that what one is supposed to be doing is helping her and not stuffing himself. The intrinsic things of work that we presume as very easy whereby we ignore the lessons it teaches us, which is to sharpen our skills. By helping at home, it further helps us in strengthening the togetherness in the family, mutual appreciation, learning domestic work and the feeling of being at home with peace and joy without any stress.

Because of their noble quality, women all over the world don’t complain of stress like the men, as they take complete ownership of what they do and they do it with a smile. That is the special and most significant quality of motherhood. On the other hand, most men talk of stress by just doing office work and ignoring the duties at home. Home is sweet home only when everyone shares the work. It is not a burden but a joy.

Do take pride in doing all that is required in the family as in the office and see the stress running away. Treat both your professional and personal life equally and give importance to both. This will automatically propel us to take care of society too. One who can please all in the family will certainly please the world with his actions as he stats treating everyone as a member of his family. There is nothing more shameful in life than depending on other f o r o u r r e q u i r e m e n t s w i t h o u t reciprocating to them. There is pride in our life when we bring together all those around us with our acts and make them stress-free.

Purshotamdas Mandhana

From the

Chairman’s Desk

The secret of going ahead is getting started-Ramesh Kumar Bung. 01

HAMARA PRAYASHAMARA PRAYASTHEMONTHLYTABLOIDOFANDHRAPRADESHMAHESHCO-OPERATIVEURBANBANKLTD.

Volume - IX | Issue : 7 | Price : ` 1/-

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

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

Date of Publication : 7th July, 2019

9th July, 2019Date of Posting :

Editor : Ranjana Sharma Associate Editor : A. V. Rama Rao

Kindness is the language which the deaf can hear and the blind can see-Ramesh Kumar Bung.02

PLAN AHEAD

A wrinkled forehead, a tension-filled face, a frustrated expression, a

high-pitched tone of voice – all these are indicators of what stress can

do. Leading a stressful life hinders our efficiency and lessens our ability

to live a healthy and happy life. Everyone wants to have a stress-free

and successful life. Willpower, discipline, right focus, hard work, etc.,

are factors for success but one of the most integral factors is the art of

'planning ahead'. And most of the people whom we consider

universally successful, people, whose accomplishments astonish us,

and whose experience we want to learn from, believe in planning

ahead!

With our hectic schedules, overload of responsibilities and action-

packed schedules, we forget how to enjoy the moment and be in the

present. Planning provides solution to all these. We see people

faltering because of lack of pre-planning and have also witnessed

people who produced results because of planning ahead.

There is an employee in a principal company, who joined a few years

back as an assistant sales representative and today is the Assistant

General Manager of the MNC. His main success mantra is to plan

ahead. Where all his colleagues dread the long hours and stress of the

month-end closing process to achieve monthly targets, he used to

complete the targets well in advance. He never used to run from pillar

to post during the month end. His planning would begin from the start

of the month itself.

He shared: 'I used to approach prospects right from the start of the

month. If I save prospecting for the end of the month, it suddenly

becomes much less achievable in the forthcoming months. Lack of

proper planning leads to increased frustration, delays, overruns and

reduced team morale. By planning ahead, I am able to achieve

deliverables and enjoy the results too'.

Planning ahead not only helps in our professional but also in our

personal life. Life is on a high if relationships are well in place.

Celebrating special occasions makes an impact on the relationships.

Birthdays and anniversaries are not calendar dates that suddenly

appear. We all know well in advance. But many of us do the last-

minute running around and try to somehow please the other. Make

celebrations fun by planning in advance. We will not only save time

and money but also be able to maintain our equanimity during the

celebrations.

The best way to see the result of planning ahead is to ask any college

student while they are studying for final exams. Students who put off

studying until the last-minute end up more stressed out. The students

who had planned in advance and implemented their plan not only

came out with flying colours but also were able to deal with last-minute

emergencies without getting stressed out.

A boy was enrolled in a Harvard Business online course, a distinctive

and engaging online course. There were modules due to be completed

every week. The course structure was very unique in such a way that

all students had to participate, discuss and answer spot questions.

While answering each module, a very interesting trend was observed.

There were a few students who would plan and answer the module as

soon as it was released in order to get participation scores. All the

students who progressed through the course afterwards would

naturally up vote and discuss the answers of the early birds. This led to

the early bird not only completing the course ahead of time but it also

helped them bag some lucrative engagement points.

Planning ahead is also about simple matters – like when you know you

will get stuck in a traffic jam; you should plan ahead and leave when

there is less traffic. Even doing something as simple as planning out

your day the night before is a great way to stay organised and build

momentum. When we plan ahead for our day, week and month, we

definitely feel more in control of our day-to-day life.

And, when it comes to money, planning ahead allows us to feel safe

and be ready for the unforeseen costs that might inevitably happen in

our lives. 'If you travel, you plan your trip. If you are getting married,

you plan your wedding. If you throw a party, you plan the event. You

would not dream of doing any of the above without some form of prior

planning. Planning your life is equivalent to having a road map that

helps you reach your desired destination'.

The Chinese philosopher, Confucius said, 'A man who does not plan

long ahead, will find trouble at his door'. Successful people and

organisations are aware of this concept. Those who are successful

have planned ahead and have discovered so many benefits. By

planning, we plan for success. By planning, we stay true to our words.

By planning, we are prepared for the unexpected. By planning, we

stay in the moment. By planning, we save time, money and energy.

In short, planning helps you to be more productive, provide better

service, experience less stress, reach your goals, fulfil your vision and

become a more effective and influential leader. And all of these are

done while still having fun and enjoying life to the fullest. So, let us

plan and make the roadmap to our future clear, happy and stress-free.

Ramesh Kumar Bung

Chairman - Emeritus INKSChairman - Emeritus INKS

There are basically two types of people. People who accomplish things and people who claim to have accomplished things. The first group is less crowded.

Umesh Chand Asawa

TOTALLY OPTIMISTIC DAY IS TODAYMy Dear Colleagues,

If you want to reach a certain destination, you will have to travel that far.

If you want to cook a specific dish, you will have to gather all the

ingredients and work on it.

If you want a specific dress, you will have to go out and buy it or get it

stitched.

If you want to develop a daily habit, you will have to start acting on it.

For any specific result that we need, ACTION IS A MUST.

Just thinking about an outcome without working on it is like a day-

dreaming. No one has ever achieved anything without taking action. An

action is one of the biggest factors that influence the achievements of a

human being. Beneath these actions lies a motivator who lets us take

those actions. It is the PRESENT MOMENT or the TODAY that gives us an

opportunity to take actions.

We cannot do anything about what has already happened yesterday and

we cannot be sure about what will happen tomorrow. The only

responsibility we can take is for TODAY. Today teaches us to take

responsibility, where lingering on the past and the future makes us develop

an attitude of blaming. We normally blame what has already happened in

the past and abstain from taking certain actions. We also tend to highlight

the uncertainty of the future and avoid taking any action.

If you are the kind of person who is looking for tremendous possibilities

and action, then TODAY is the day for you to start working on your

dreams. That is why we should prefer to call Totally Optimistic Day. It is

filled with opportunity and a chance to do things. The learning that we

have gathered from our past and the dreams that we plan to materialise in

the future needs to be acted upon in the present moment. It is said in

spirituality that the present moment is the most precious and important

moment. It is the only moment that exists. It is indeed true.

Our mind is mostly running in the past or thinking about the future. Only if

we learn to keep it in the present or now can we be aware of the immense

power that the present moment holds. TODAY is a great 'Rectifier' and

'Healer'.

While gazing out of the library window, I saw a man sweeping old and

dried leaves off the garden with a long broom. It instantly brought me to a

realisation that today is the time to clean and rectify all the things that

happened yesterday. Today gives us an opportunity to not only learn from

our mistakes but also to correct them and not repeat them.

Today is the time when you can heal yourself and forgive others. We all

have held on to grudges and wounds that are not helping us in any way to

grow in any aspect of our life. In such a scenario, today is the time to let go

of all those things that we have held on to. Today is the day when you can

sow the seeds to plant a beautiful tree in the future. It is also the day when

you will get the fruits of the seeds that you planted in the past. Thus, it gives

you an opportunity to experience the fruits of your past actions. It also

gives you a chance to choose whether you want to act in the same way or

change the way you act.

Make sure to use your today wisely, because soon your today will become

'yesterday'.

Cordially yours,

Umesh Chand Asawa

MD & CEO SPEAKS

Patriotism is supporting your country all the time and your government when it deserves it-Ramesh Kumar Bung. 03

NEFT AND RTGS TRANSACTIONS-GUIDELINES BY RBIIn terms of Notification of RBI , No:2018-2019/208; DPSS (CO)

RPPD No.2557/04.03.01/2018-19 June 11, 2019 referring to

paragraph No. 8 of the Second Bi-monthly Monetary Policy

Statement on Developmental and Regulatory Policies for 2019-20

dated June 06, 2019 on the above subject.

The Reserve Bank has since reviewed the various charges levied by it

on the member banks for transactions processed in the RTGS and

NEFT systems. In order to provide an impetus to digital funds

movement, it has been decided that with effect from July 1, 2019,

processing charges and time varying charges levied on banks by

Reserve Bank of India (RBI) for outward transactions undertaken

using the RTGS system, as also the processing charges levied by RBI

for transactions processed in NEFT system will be waived by the

Reserve Bank. The banks are advised to pass on the benefits to their

customers for undertaking transactions using the RTGS and NEFT

systems with effect from July 1, 2019.

In the last month, the RBI had extended the timings for fund transfer

through RTGS by one-and-a-half hours to 6 PM for the general public

from June 1. Before the change, the timing for any RTGS transaction

was till 4:30 PM. Now it has been extended to 6 PM. The final cut-off

for inter-bank transactions will be 7:45 PM.

The NEFT and RTGS are popular form of fund transfer. There is no

limit for the minimum/maximum for fund transfer. The NEFT, a

nation-wide retail payment system facilitating one-to-one funds

transfers, is managed by the RBI while the RTGS system is primarily

meant for high-value transactions. The minimum amount to be

remitted through RTGS is Rs 2 lakh with no maximum limit.

According to reports, under Real Time Gross Settlement (RTGS)

System, there is a continuous and real-time settlement of fund-

transfers, individually on a transaction by transaction basis (without

netting). During his keynote address at NITI Aayog's FinTech

Conclave in March this year, RBI Governor Shaktikanta Das had said

that the total volume of retail electronic payments witnessed about

nine-fold increase over the last five years.

A GENERATION GAP

The only way to keep your health is to eat what you don’t want, drink what you don’t like-Ramesh Kumar Bung. 04

A GENERATION GAPThere is always a gap between two generations. Our parents had

differences with their parents and we with our children. Our parents

looked at life from an angle. We look at it from a different angle and our

children from yet another different angle. This is all because of the changes

taking place consistently in everything, everywhere, at all times.

It is therefore, unwise to compare the lifestyle of two generations with each

other. Nothing has ever remained the same. Every second, new ideas are

born; new experiences change opinions and pave the way to revised

thinking and beliefs. Evolution is taking place and if we fail to evolve with

the new concepts, we will be left behind and will end up widening the

generation gap. The youngsters' insights have grown deeper. They show

awareness. They want to know the reason behind every belief; every

action and so many questions arise in their minds.

Unless and until they get satisfactory answers for their questions, they do

not accept any belief or custom blindly. This is a good sign of not only

personal growth but that of social too. Changes have been taking place

not only in customs but also in lifestyles, dressing patterns, food, the

educational system, etc., though we cannot generalise that all the changes

are for the better. Eating junk food has become a fashion now, which is

very harmful to mental and physical health. Drinking alcohol, smoking

cigarettes and late-night parties... if it becomes a lifestyle will land us in

serious health problems.

However, there are some changes that are for the good, which should also

be taken into consideration. For example, nowadays women are no

longer mere housewives; they help in so many ways to support their

families and contribute to the GDP of our country. In such families, where

Once there lived a peerless poet named Vishnu. He was bestowed with

poetic skills that would leave the listeners spellbound. Vishnu decided to

write poetry on his King and his achievements in the hope of taking home

some gold coins. The next day, he visited the kingdom of Vijay Raja and

recited his poetry, which without double lionised the king. The king was

overwhelmed with joy and requested Vishnu to stay in his palace for a few

days. Vishnu was on cloud nine. After all, not everyone got a chance to be

a guest in a palace as big as that of Vijay Raja. The king then instructed his

minister to treat Vishnu with all the respect due to any guest in the palace.

The minister took heed of his majesty's words to take care of Vishnu

wholeheartedly. Vishnu and the minister strolled around the majestic

palace. The minister showed him around all the halls, rooms, swimming

pools, gardens and verandas in the palace. As they were walking through

the veranda, amidst an open porch at front held up with most

ostentatiously detailed pillars painted in brilliant white, Vishnu saw a huge

cage with a parrot in it. The minister said, as he neared the cage, 'I feel

jealous of the parrot; the cage is made of gold, and the swing is made of

silver. It got fresh and tasty food to eat in silver cups every day. But it still

looks unhappy'. The parrot was constantly wailing the words, 'I want

freedom, freedom, and freedom'. Vishnu felt pity on seeing the parrot.

The minister continued to walk him over to the rose garden and then the

backyard. Vishnu thought to himself, 'Everything in the palace was jaw-

dropping except for the parrot who was crying for freedom'.

That night, Vishnu could not sleep. He was agonised over thoughts of

what is life without freedom. He decided to take a look at the parrot. As he

neared the cage, the parrot woke up and started screeching, 'I want

women are willing to explore and utilise their potential through

professional success, a word of encouragement and support from the

family can go a long way.

In the modern times, the so called pilgrimage trips of the yester generation

are replaced with the concept of family holidays. Nevertheless, the

essence of shunning away from the hustle and bustle of everyday

mundane and taking some time with nature and family is still intact in

family holidays. So, without compromising on their upright culture and

good nature, the elders can consider the changes of today and attempt to

adapt to them. Although so many things have changed since the creation

of this world; love, affection, humanity and relationships have not

changed. These should not change and we should not allow them to

change. It is natural for both generations to be adamant about their own

beliefs. But let us nor force our beliefs on others. Instead, make earnest

attempt to analyse the changes for good and accept them peacefully.

Over time, we have accepted many changes in life. We have accepted the

electronic gadgets which were discovered lately. Elders have accepted the

change from the nine-yard sari into 5.5 yards. The paisa has taken the

'anna's' place and metric measures in inches and feet are standard

measurements today. We were given no other option than accepting them

and we have accepted them. When we can accept all these changes, why

can't we accept the cultural changes of today if they are harmless? Let us

bridge the gap between generations and live congenially.

Ranjana Sharma

Editor/Deputy General Manager

freedom'. Vishnu felt pity on the little parrot; he broke the cage open and

spoke to the parrot. He said, 'Now you have all the freedom you cried for,

go fly high. Be free. Live the life you dream of'. But he scared parrot

remained inside the cage. Vishnu thought to himself, 'Maybe this bird is

still scared to fly'. So, he pulled out the parrot from the cage and threw it

high into the sky. He felt jubilant at the sight of the parrot flying and went

back to his bed to have a peaceful nap.

The next day morning, he saw a few of the king's guards around the cage.

He thought to himself, 'Let me leave before they find out who did this. But

for one last time, let me satisfy myself by looking at the empty gold cage'.

To his astonishment, the parrot was still in the cage, again crying out the

same words, 'I want freedom, freedom and freedom'.

Don't you feel as if you too are like the parrot that likes freedom but does

not want to move out of his comfort zone. Freedom takes a lot of

courage, change and responsibility. The parrot was comfortable in

the golden cage with a silver swing to play on, with the visitors who came

to admire him in the cage, with tasty and abundant food and enough

space to fly-from one end of the cage to the other. Once the parrot was set

free, it realised that it had to search for its own food and build its own

shelter and had to save himself from his enemies-all by himself.

The parrot forgot to realise that freedom comes with

responsibility.

A. Masthan Reddy

Joint General Manager

THE COURAGE TO EMBRACE FREEDOM

Training is everything; cauliflower is nothing but cabbage with a college education-Ramesh Kumar Bung. 05

Nirmala Sitharaman appointed Finance Minister in Central Government

Ending all speculations, former Defence Minister Nirmala Sitharaman

was appointed as the next Finance Minister in the new Narendra Modi

government. She served as the defence minister since 2017 in the

previous government and as member of Rajya Sabha since 2016.

Nirmala Sitharaman also worked in the capacity of the minister of state for

finance and corporate affairs under the ministry of finance and the union

ministry for commerce and industry with independent charge. The 59-

year old politician has also served as the national spokesperson for the

Government.

She now has a major task before her to present the full budget by July. The

responsibility comes at a time when the economy is facing fears of

slowdown and global trade wars and intensifying. There were

speculations earlier that Piyush Goyal, who had already stepped into the

role twice in the previous Modi government when the outgoing finance

minister Arun Jaitley was out sick, would succeed the latter. However, the

party leadership picked Nirmala Sitharaman over Piyush Goyal, who has

The appointment of Nirmala Sitharaman as the new Finance Minister in

Modi Government is bound to make some experts wonder if she would be

adept at handling such a crucial and large portfolio. However, a lesser

acknowledged fact about our new FM is that she is highly educated and

holds a Master's Degree in Economics. It is a different matter that she was

unable to complete a PhD dissertation which she had registered for as

marriage and other commitments came calling.

Moreover, there is no prerequisite that any leader handling a certain

portfolio must possess relevant qualifications as long as they have the

political acumen and prowess to lead towards a progressive and

functional future. It is the personality and ability to execute that matters

most. Here's a look at some of our politicians who hold degrees in fields

related to finance, business and economics.

01. Nirmala Sitharaman : Education: Master's degree in Economics

from Jawaharlal Nehru University, Delhi (JNU), She also holds an

MA, MPhil degree.

02. Manmohan Singh: Education: Degree in Economics from

University of Cambridge, D.Phil at the University of Oxford

03. Piyush Goyal: Education: All-India second rank holder Chartered

Accountant from the Institute of Chartered Accountants of India

(ICAI). Second rank holder in Law in Mumbai University.

04. P Chidambaram: Education: MBA from Harvard Business

School, BSc degree in statistics from the Presidency College,

Chennai, Bachelor of Laws from the Madras Law College. He also

holds a master's degree from Loyola College in Chennai.

05. Sachin Pilot: Education: MBA from the Wharton School at the

University of Pennsylvania, He also holds a B.A. degree from St.

Stephens College, University of Delhi, and a diploma in marketing

been once again handed the

charge of railways along with

an add i t iona l charge o f

commerce.

Born in Madurai, Tamil Nadu,

N i r m a l a S i t h a r a m a n

completed her schooling from

Madras and Tiruchirappalli.

She holds a BA in economics at the Seethalakshmi Ramaswamy College

in Tiruchirapalli and a master's degree from Jawaharlal Nehru University

(JNU), Delhi in 1984. The first ever Defence Minister of the independent

India also served as a Senior Manager (R&D) at Price Waterhouse.

The outgoing Finance Minister Arun Jaitley had announced that he

doesn't wish to carry on as a cabinet minister in the new Narendra Modi

government due to health reasons.

from I.M.T. Ghaziabad.

06. Jyotiraditya Scindia: Education: Degree in Economics from

Harvard College, M.B.A. from the Stanford Graduate School of

Business.

07. Suresh Prabhu: Education: Chartered Accountant from the

Institute of Chartered Accountants of India (ICAI). Bachelor in

Commerce with Honours from M.L. Dahanukar College, Vile

Parle, Mumbai. Bachelor in Law degree from the New Law College

(Ruparel College campus), Mumbai.

08. K Rahman Khan: Education: Chartered Accountant of Institute of

Chartered Accountants of India (ICAI). Commerce graduate.

09. Naresh Gujral: Education: Chartered accountant from the Institute

of Chartered Accountants of India (ICAI), B.A., F.C.A. Educated at

St. Stephen's College, University of Delhi.

10. Kirit Somaiya: Education: Chartered accountant from the Institute

of Chartered Accountants of India (ICAI), Doctorate from the

Mumbai University in 2005 – 'Ph.D in Finance – Capital Market –

Small Investors Protection.'

11. Mallipudi Raju Pallam Mangapati: Education: MBA from Temple

University, Philadelphia, USA, Electronics & Communications

Engineering graduate (BE) from Andhra Univers i ty,

Visakhapatnam, Andhra Pradesh

12. Jitin Prasada: Education: MBA from IMI, Commerce graduate at

Sri Ram College of Commerce, Delhi

G. Amarnath

HO: Estates

National leaders who are highly educated in finance, business & economics

WHAT IS FOREIGN EXCHANGE – FOREX?WHAT IS FOREIGN EXCHANGE – FOREX?WHAT IS FOREIGN EXCHANGE – FOREX?

A man’s character is known from the adjectives which he habitually uses in conversation-Ramesh Kumar Bung.06

Foreign Exchange (forex or FX) is the trading of one currency for another. For example, one can swap the U.S. dollar for the euro. Foreign exchange transactions can take place on the foreign exchange market, also known as the Forex Market. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands every day. There is no centralized location; rather the forex market is an electronic network of banks, brokers, institutions, and individual traders (mostly trading through brokers or banks).

How Does Foreign Exchange Work?: The market determines the value, also known as an exchange rate, of the majority of currencies. Foreign exchange can be as simple as changing one currency for another at a local bank. It can also involve trading currency on the foreign exchange market. For example, a trader is betting a central bank will ease or tighten monetary policy and that one currency will strengthen versus the other.

When trading currencies, they are listed in pairs, such as USD/CAD, EUR/USD, or USD/JPY. These represent the U.S. dollar (USD) versus the Canadian dollar (CAD), the Euro (EUR) versus the USD and the USD versus the Japanese Yen (JPY). There will also be a price associated with each pair, such as 1.2569. If this price was associated with the USD/CAD pair it means that it costs 1.2569 CAD to buy one USD. If the price increases to 1.3336, then it now costs 1.3336 CAD to buy one USD. The USD has increased in value (CAD decrease) because it now costs more CAD to buy one USD.

In the forex market currencies trade in lots, called micro, mini, and standard lots. A micro lot is 1000 worth of a given currency, a mini lot is 10,000, and a standard lot is 100,000. This is different than when you go to a bank and want $450 exchanged for your trip. When trading in the electronic forex market, trades take place in set blocks of currency, but you can trade as many blocks as you like. For example, you can trade seven micro lots (7,000) or three mini lots (30,000) or 75 standard lots (750,000), for example.

Key Takeaways: Foreign Exchange (forex or FX) is the trading of one nation's currency for another. The forex market is the largest, most liquid market in the world, with trillions of dollars changing hands 24 hours every day. Foreign exchange trading utilizes currency pairs, priced in terms of one versus the other. Forwards and futures are another way to participate in the forex market.

Size of the Foreign Exchange Market: The foreign exchange market is unique for several reasons, mainly because of its size. Trading volume in the forex market is generally very large. As an example, trading in foreign exchange markets averaged $5.1 trillion per day in April 2016, according to the Bank for International Settlements, which is owned by 60 central banks and is used to work in monetary and financial responsibility. The largest trading centres are London, New York, Singapore, and Tokyo.

Trading in the Foreign Exchange Market: The market is open 24 hours a day, five days a week across major financial centres across the globe. This means that you can buy or sell currencies at any time during the day. The foreign exchange market isn't exactly a one-stop shop. There are a whole variety of different avenues that an investor can go through in order to execute forex trades. You can go through different dealers or through different financial centres which use a host of electronic networks. From a historical standpoint, foreign exchange was once a concept for governments, large companies, and hedge funds. But in today's world, trading currencies is as easy as a click of a mouse — accessibility is not an issue, which means anyone can do it. In fact, many investment firms offer the chance for individuals to open accounts and to trade currencies however and whenever they choose.

When you're making trades in the forex market, you're basically buying or selling the currency of a particular country. But there's no physical exchange of money from one hand to another. That's contrary to what happens at a foreign exchange kiosk — think of a tourist visiting Times

Square in New York City from Japan. He may be converting his (physical) yen to actual U.S. dollar cash (and may be charged a commission fee to do so) so he can spend his money while he's travelling. But in the world of electronic markets, traders are usually taking a position in a specific currency, with the hope that there will be some upward movement and strength in the currency that they're buying (or weakness if they're selling) so they can make a profit.

Differences in the Forex Markets: There are some fundamental differences between foreign exchange and other markets. First of all, there are fewer rules, which means investors aren't held to as strict standards or regulations as those in the stock, futures or options markets. That means there are no clearing houses and no central bodies that oversee the forex market. Second, since trades don't take place on a traditional exchange, you won't find the same fees or commissions that you would on another market. Next, there's no cut-off as to when you can and cannot trade. Because the market is open 24 hours a day, you can trade at any time of day. Finally, because it's such a liquid market, you can get in and out whenever you want and you can buy as much currency as you can afford.

The Spot Market: Spot for most currencies is two business days; the major exception is the U.S. dollar versus the Canadian dollar, which settles on the next business day. Other pairs settle in two business days. During periods that have multiple holidays, such as Easter or Christmas, spot transactions can take as long as six days to settle. The price is established on the trade date, but money is exchanged on the value date. The U.S. dollar is the most actively traded currency. The most common pairs are the USD versus the euro, Japanese yen, British pound and Swiss franc. Trading pairs that do not include the dollar are referred to as crosses. The most common crosses are the euro versus the pound and yen. The spot market can be very volatile. Movement in the short term is dominated by technical trading, which focuses on direction and speed of movement. People who focus on technical are often referred to as chartists. Long-term currency moves are driven by fundamental factors such as relative interest rates and economic growth.

The Forward Market: A forward trade is any trade that settles further in the future than spot. The forward price is a combination of the spot rate plus or minus forward points that represent the interest rate differential between the two currencies. Most have a maturity less than a year in the future but longer is possible. Like with a spot, the price is set on the transaction date, but money is exchanged on the maturity date. A forward contract is tailor-made to the requirements of the counterparties. They can be for any amount and settle on any date that is not a weekend or holiday in one of the countries.

The Futures Market: A futures transaction is similar to a forward in that it settles later than a spot deal, but is for standard size and settlement date and is traded on a commodities market. The exchange acts as the counterparty.

Example of Foreign Exchange: A trader thinks that the European Central Bank (ECB) will be easing its monetary policy in the coming months as the Euro-zone's economy slows. As a result, the trader bets that the euro will fall against the U.S. dollar and sells short �100,000 at an exchange rate of 1.15. Over the next several weeks the ECB signals that it may indeed ease its monetary policy. That causes the exchange rate for the euro to fall to 1.10 versus the dollar. It creates a profit for the trader of $5,000. By shorting �100,000, the trader took in $115,000 for the short-sale. When the euro fell, and the trader covered their short, it cost the trader only $110,000 to repurchase the currency. The difference between the money received on the short-sale and the buy to cover is the profit. Had the euro strengthened versus the dollar, it would have resulted in a loss.

N.V. ShastryHO: Forex

It is not the size of the dog in the fight, it is size of the fight in the dog-Ramesh Kumar Bung. 07

The theme for 2019's World Day Against Child Labour is 'Children

shouldn't work in fields, but on dreams!'. Yet as on today, 152 million

children are still in child labour. The international consulting firm

Maplecroft has compiled a Child Labour Index to rank them. The Child

Labour Index consists of 32 indices assessing key elements of the human

rights and development environment. These include issues covering

labour rights, civil and political rights, human security, poverty, education

and health.

According to the latest annual Child Labour Index, which assesses 198

countries, manufacturing hubs, including China, India, Bangladesh,

Vietnam and Cambodia have registered no tangible improvement in the

ranking since 2016. India performs poorly on the Child Labour Index with

a total score of 3.05 out of 10. It is ranked 48th in the index and sits within

the 'high risk' category. On this day, here's a look at the countries which are

categorised as the worst for children as they are forced into labour under

extreme conditions, sex trades, and even war. In these countries, children

are made to work in dangerous jobs such as logging, mining, and fighting

wars, as well as exploiting them as beggars, household help, and even for

sexual purposes.

1. Bangladesh: Children work in garment factories, farming, and in

various types of manufacturing. But the exact nature of their employment

is hard to track as it is informal. Poverty is the main cause of under-aged

work in Bangladesh. Being susceptible to climate change, despite there

being some legislation in place in Bangladesh to protect children, the

country will have challenges ahead.

2. Chad: Children are mostly engaged in agricultural work in Chad. Some

children in the country may be sold or trafficked against their will to work

in areas of the country related to oil production. It is not unheard of for

children to be forced to become soldiers. UNICEF data reveals that more

than half of the country's children is said to be working.

3. The Democratic Republic of the Congo: 3,327,806 children in the

country are child labourers working in various sectors like agriculture,

industry and services. Children are also often forced to work in mines.

They are hindered from going to school, and are also forcibly recruited

into armed forces while attending schools. Sexual exploitation of children

is also common. Inability to produce valid birth certificates and proof of

citizenship sometimes leaves children with no choice but to enter the

labour markets to make money for their poor families.

4. Ethiopia: Underage working remains a problem in Ethiopia despite

government efforts to curb it. 41.5% of the country's population aged

between 7 and 14 are engaged in child labour. Children from

underdeveloped regions of the country are forced into areas of work such

as shoe shining, vending, mining, and even unpaid labour.

5. India: The world's second most populated country, India, has as many

as 33 million child labourers. Children work in mines, on farms, and in

garment factories. Although the economy of the country has grown over

the past several decades, not everyone in the population has benefited

evenly. Despite legislative efforts, the number of child workers has

increased in recent years especially in big cities.

6. Liberia: 358,179 children in Liberia are labourers, which constitutes

over 30% of the country's total child population. Children are involved in

agriculture jobs which exposes them to hazardous working conditions.

The country's lack of labour laws is the main cause behind this. Severe

poverty and inefficient justice system are also to blame.

7. Myanmar: Around 1.5 million children between the ages of 10 to 17 are

forced to work as labourers in Myanmar. The agricultural sector in the

country employs the largest number of children while construction and

small-scale industries also involve children as part of their workforce.

Once again, poverty is the main reason behind children being engaged in

labour.

8. Nigeria: Nigeria suffers from severe poverty leading to a large number

of cases of child labour. Data from ILO reveals that over 15 million children

in the country below the age of 14 are child labourers. Girls are primarily

employed as domestic helps in households and boys and girls alike are

also hired to do agricultural work, street hawking & begging, mining and

construction work, shoe shining, car washing, auto repair, conducting

minibuses, and numerous other activities.

9. Pakistan: Nearly 13% of Pakistani children accounting for 2,449,480

individuals between the ages of 10 to 14 are child labourers. 76% of these

children work in the agricultural sector involving activities like working in

crop fields, fishing and shrimp harvesting and processing. A large number

of children are also engaged in restaurants, tea stalls, transportation, and

garbage scavenging. As per ILO, poverty is the single major factor

responsible for the high prevalence of child labour in the country.

10.Somalia: Around 1,012,863 children, 39.8% of children between the

ages of 5 to 14, are child labourers in Somalia. Children are hired as labour

for fishing, threshing grain, and livestock raising. Construction and mining

industries also use children as part of the workforce. Children are also seen

begging on the streets, hawking, and minibus conducting. They are also

engaged in armed conflicts, illegal and anti-national activities. Human

trafficking of children is also prevalent. Abject poverty in Somalia often

forces parents to give up their children to work as labourers.

Sheela Jaiswal Ameerpet

WORLD'S WORST COUNTRIES WORLD'S WORST COUNTRIES FOR CHILD LABOUR: FOR CHILD LABOUR: GUESS WHERE INDIA STANDS?GUESS WHERE INDIA STANDS?

WORLD'S WORST COUNTRIES FOR CHILD LABOUR: GUESS WHERE INDIA STANDS?

While the child was growing in the womb,Nobody knows as to what it would become.Mahatma Gandhi and Mother Theresa were post birth Possibilities unfolded during their tenure in this planet.Even when you were growing in the womb,Nobody knew as to what you may become.A history reader? A history maker? Existential glory is that all of us are born equal by birth...Human glory lies in ensuring that you do not die as equal.

Ramesh Kumar Bung

01. What is 'keyman insurance'?

02. What is Life Insurance?

03. Why Life Insurance is needed?

04. Life Insurance is a financial cover for a contingency linked with

human like ------

05. What is 'sum assured' in LIC policy?

06. It is generally appreciated that RBI has distinguished itself in regard

to external sector management, whether it was meeting ------

07. RBI's SMS handle 'RBISAY' was extensively used for sending text

messages on topics such as -------. An Integrated Voice Recognition

Service facility was also made available to public by RBI for getting

more information on the above.

08. Western Union Financial Services inc., and Money Gram Payment

Systems Inc., belong to which country?

09. RBI will shortly issue Rs. 20 denomination banknote in the

Mahatma Gandhi (New) Series, bearing signature of RBI Governor.

The new denomination has motif of ------ on the reverse, depicting

the country's cultural heritage. The base colour of the note is

greenish yellow. The note has other designs, geometric patterns

aligning with the overall colour scheme, both at the obverse and

reverse. All the banknotes in the denomination of Rs. 20 in the

earlier series will continue to be legal tender.

10. One of the prerequisite for a prospering 'bond market' in any

economy is an ---- in place to make it easy for investors to buy or sell

bonds.

11. Cross-border trade involves various risks as trade partners are

unlikely to be familiar with one another. These risks mainly include -

----- which generally exacerbate during the period of global

turbulence – whether caused by financial or political developments.

12. Discontinuation of trade instruments-viz., -------- in case of India

also underlines the need for analysis of demand and supply-side

factors of trade credit.

13. Currency-wise composition of trade credit shows that it is

predominantly raised in terms of -------

14. Although not acceptable globally like other standard instruments

such as LCs and BGs, LoUs/LoCs were largely issued by domestic

branches of Indian banks for imports to avail trade credit from

foreign branches of their own or other domestic banks. Globally,

however, ------- are the accepted instruments of trade finance and

are used when buyer and seller do not know each other.

15. Internationally, insurance companies are among the largest

participants in the corporate bond markets. However, in India,

institutional investors like ------- who have large assets under their

management still have several constraints in the nature of

investment mandate resulting in limited participation of such

entities.

16. Financial Institutions are now increasingly leaning on ------ to devise

new business opportunities, deliver customer services and even

prevent banking frauds as it is taking place.

17. ----- are the foremost reasons for using a digital mode of payment.

Sensing these opportunities, merger of e-commerce and e-wallet

firms is adding synergy. (Improved O 20 –Online to Offline

presence).

18. Disruptive innovations like invention of car usually find their first

customers at the ---- of the market.

19. Fine Techs' will change financial sector in many ways. What are

they?

20. Expand SSS, ULIP, GIS, and GIVE relating LIC.

21. What is assignment in insurance terminology?

22. What is 'Annuity Plan' in LIC?

23. What is 'endowment policy' in LIC?

24. What is 'Life assured' in LIC?

25. What is 'Money Back Policy?'

26. What is 'premium' in insurance policy?

27. What is 'surrender value' in life insurance policy?

28. What is vesting age in insurance policy?

29. What is whole life policy?

30. Which was set up with the recommendations of Malhotra

Committee?

31. What is 'Hybrid Debt?'

32. The 'Payment System Vision 2021' with its core theme of

'Empowering Exceptional E-Payment Experience' aims at what?

33. RBI had constituted a High-Level Committee on ------under the

Chairmanship of Sri Nandan Nilekani, former Chairman, UIDAI in

January, 2019.

34. The Imperial Bank was formed as a joint stock bank in January

1921 by amalgamating the Presidency Bank of -------

35. The creation of State Bank of India in July 1955 followed the

passage of ---- into state ownership.

36. The Liberalised Remittance Scheme is not available to ----

37. Paper Currency was introduced in India in -----

38. The Swadeshi movement of ----- gave a fillip to Indian joint-stock

banking and several of the present leading banks were established

in the next 7/8 years.

39. The -------- while talking about the cooperative movement,

observed that 'if cooperation fails, there will fail the best hope of

rural India'.

40. The real start to the cooperative movement was given by the passing

of the Cooperative Societies Act of 1904. Give details about the Act.

41. RBI was to have at its commencement, a share capital of Rs. 5 crore,

the shares of Rs. -------each being fully paid up.

42. What is the Liberalised Remittance Scheme (LRS) of USD 250000?

43. What are the prohibited items under the Liberalised Remittance

Scheme?

44. Whether remittances can be made only in US Dollars?

45. Financial' refers to whom as permitted by RBI participating in the

TReDS and accepting the factoring unit financing purpose?

46. What is 'Factoring Unit?'

47. Who are Authorised Money Changers?

48. What are the different types of AMCs?

49. Papua New Guinea paper banknotes cease to be legal tender on

30.06.2012 and only ----- banknotes are legal tender in Papua New

Guinea.

50. What is an 'EEFC' Account and what are its benefits?

BANKING AWARENESS

If you tell the truth, you don’t have to remember anything-Ramesh Kumar Bung.08[ Answers on Page No. ]12

BANK BIDS FAREWELL TO SRI V.S. SARMA, GENERAL MANAGERBANK BIDS FAREWELL TO SRI V.S. SARMA, GENERAL MANAGERBANK BIDS FAREWELL TO SRI V.S. SARMA, GENERAL MANAGER

09It is better to deserve honours and not have them than to have them and not deserve them-Ramesh Kumar Bung.

The Bank has bid farewell to Sri Vanka Satyanarayana Sarma, General

Manager, who retired on 31st May, 2019. A gathering was present at new

Head Office in the farewell meeting. Sri Ramesh Kumar Bung, Chairman-

Emeritus, Sri Rampal Attal, Vice Chairman and Sri Umesh Chand Asawa,

MD & CEO were present on the dais along with Sri Sarma. Executives,

Branch Managers from twin city branches, Heads of Departments at Head

Office were present on the occasion. Sri Ramesh Kumar Bung felicitated

Sri Sarma in a befitting way.

Speaking on the occasion, Sri Bung stated that Sri Sarma discharged his

duties with exceptional qualities as a leader being a mentor in all aspects.

The Bank would remember the skills, knowledge, professional

functioning, transparency and pleasing attitude of Sri Sarma. Sri Bung

wished him a happy, healthy and peaceful retired life.

Sri Asawa said that Sri Sarma has richly contributed in all the functional

areas and extended wholehearted support to the organisation. His

The story goes.... Ganesh, who was so passionate about the paan made

by a particular paanwala, took his friend Mahesh to the shop one day.

Mahesh, who had come to the shop for the first time, was flabbergasted to

see the rudeness with which the paanwala was dealing with all the

customers. They collected the paan, started chewing it and as they left,

Ganesh complimented the paanwala for the perfection with which he had

made the paan. The response from the paanwala was typical.... a rude

and indifferent, 'OK Ok'. Mahesh asked Ganesh, 'Why did you appreciate

the paanwala in spite of the fact that he was so rude?' Ganesh replied, 'For

the simple reason that I do not want a paanwala to decide how I should

behave. To be rude is his behaviour; to appreciate is mine'.

When you are recovering from an illness, the doctors say, 'You are

dedicated and committed services are commendable. He endeavoured

for improvement of credit and knowledge levels of employees by looking

after periodical trainings. Sri Asawa further said that Sri Sarma bestowed

his best efforts shaping out staff and streamlining systems and procedures.

While thanking the Bank for extending full support in his functioning, Sri

V.S. Sarma expressed his gratitude for honouring him. He had a long

association with the bank since 2011. He said that he was involved in his

job and taken up with all seriousness. He advised the managers to take

command of the branches by enhancing their knowledge levels. Discipline

is the foremost. They should contribute their mite. They need to upgrade

their skills. Knowledge has to be translated into complete performance, Sri

Sarma concluded.

responding to the medicine'. When your health deteriorates, the doctors

say, 'The medicine is reacting on you'. Response is positive; and reaction is

negative. Let us never react to any situation in life but instead choose our

response. Let our behaviour not be instigated by forces from outside but

be born out of an internal value-based choice. Let no paanwala in the

world hold the keys to our behaviour. Let not some man in the world

outside parade over our inherent goodness.

How the world behaves is none of our business. At every opportunity, let

us get ahead of people and not get even with them.

Rampal AttalVice-Chairman

Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Rampal Attal, Vice Chairman, Sri Umesh Chand Asawa, MD & CEO bidding farewell to Sri Vanka Satyanarayana Sarma, General Manager, who retired from the services of the Bank. Executives, Branch Managers present on the occasion.

REACTION OR RESPONSE?

In its circular on Facility for Exchange of Notes and Coins, the RBI

advised the banks that none of the bank branches should refuse to

accept small denomination notes and/or coins tendered at their

counters. However, the RBI continues to receive complaints about

non-acceptance of coins by bank branches, causing considerable

inconvenience to the public at large, the RBI said in a notification.

NEFT, RTGS Transaction Charges to be Waived Off From July 1: RBI

Directs Banks.

In January 2018, the RBI said that all

the 14 designs of Rs 10 coin are valid

and legal tender for transactions. "So

far the Reserve Bank has issued Rs 10

coin in 14 designs... All these coins are

legal tender and can be accepted for

transactions," the RBI said. The Central

Bank issued the circular after it was

found that there is reluctance on part of

traders and members of public to

accept Rs 10 coins due to suspicion

about their genuineness.

The Reserve Bank of India on 26.06.2019 ordered all the banks to

immediately direct all their branches to accept coins of all

denominations. The decision by RBI comes after it received

complaints about non-acceptance of coins by branches of various

banks. Owing to the complains and casting aside doubts of a number

of people, the RBI has advised all its banks to accept coins of all

denominations tendered at their counters for transactions or exchange

and ensure strict compliance in the matter. Rs 10 Coins Are Valid! All

14 Types of Coins Declared Valid and

Legal Tender for Transactions by RBI.

In the wake of the complaints by

customers, the RBI asked all banks not

to turn away any person who comes to

exchange coins at their branches. At

present, coins of 50 paise, Rs 1, Rs 2, Rs

5 and Rs 10 denomination of various

sizes, theme and design are in

c i rculat ion. The RBI puts into

circulation coins minted by the central

government. These coins have

distinctive features which are being

introduced from time to time with

various theme-economic, social and cultural, in order to meet the

transaction needs of public.

RBI Tells Banks to Accept Coins of All Denominations, Orders To Be Sent To All Branches Immediately

Do we realise that even in life we need punctuations and pauses? -Ramesh Kumar Bung.10

DO YOUDO YOUDO YOUDO YOUDO YOUDO YOUDO YOUDO YOUDO YOU KNOWKNOWKNOWKNOWKNOWKNOWKNOWKNOWKNOW ?????????01. The weight of a whale's heart is equal to that of a car.

02. Before rubber was invented, people use to erase the pencil lines

with pieces of bread.

03. When the astronauts weep in the space ship, they cannot shed

tears.

04. If 12 lakh mosquitoes fall on a man and bite him, they can suck

entire blood within seconds.

05. In 1895, American William G. Morgan invented a game called

Mintonette, which was inspired by basketball. Today, this game is

called Volleyball as the ball is being volleyed over the net.

06. In 1896, Japan started playing volleyball and soon this sport was

picked up by several other asian countries.

07. At the age of 17, Regla Torres made Olympic history as the

youngest woman to win a gold medal in volleyball for her

country, Cuba.

08. As a gesture of victory, to hit other's hand with one's palm is called

'hi-fi'. This started in a baseball ground in 1977.

09. In Singapore, the chew 'chewing gum' was banned in 1992.

10. Yoro is the capital city of the Yoro Department of Honduras. It is

notable for a local event known as Lluvia de Peces, where it is

claimed that strong storms make fish fall from the sky. Fish rain

falls in the city once in a year.

11. The total weight of ants on the earth is more than the weight of

human beings.

12. We find the sunset in the mixture of red and yellow colours. But it

is in blue colour on Mars.

13. Our nose can identify almost 50000 types of smells.

14. We very often use 'smileys' emoji while sending messages. This

was born in 1982.

15. In the space, even if astronauts want weep, they cannot shed

tears.

P. Venugopal Reddy

HO: Credit

Throughout life we keep taking decisions.From crossing a road to embarking on a life mission,Everything is based on a decision.Sometimes they turn out to be right and Sometimes they help us to grow up!Each one of us would have stood at the crossroads ofDecision making some time or the other.And we decide; we make our choices. Many a time we work towards making our choices right.

Umesh Chand Asawa

SALAM HYDERABADGRANDIOSE MANSION

The Bade shahi Ashurkhana was built between 1592 and 1596 close to the river. It is to the right of the main arterial road connection to the Afzal Gunz Bridge and the Charminar, opposite the Madina Hotel entrance. This Asurkhana is one of the earliest buildings of Mohammed Quli Qutub Shah's Hyderabad. As a repository of ancient banners and relics displayed only during Moharrum, the Muslim month of mourning, it is among the oldest imambaras in India. The building is famous for its enamel tile mosaics and the timber colonnade, a later addition. Hardly 100 metres away from the Naya Pul and bang opposite the Madina building, the Bade Shahi Ashurkhana is a house for mourning the martyrdom of Imam Hussain, during Moharram. It was a sorry sight a few years back with many encroachers using the space for stalls and parking space illegally. Only recently with help from a High Court order, the encroachments have been removed the ambience of the place has been restored to an extent. The beauty of the place however is, in the beautiful walls which are decorated with huge arches, abundantly decorated in vibrant colours with enamelled tiles, floral patterns and verses from the Quran. In the central arch the Sultan Mohammed Quli Qutb Shahi who ordered this monument to be built, has ordered the inscription 'Ghulam-e-ali, Quli Qutb-Shahi' proclaiming him as a slave of Hazrat Ali, the son-in-law of the Prophet. The structure is renowned for its enamel-tiled mosaics in Persian style, similar to the ones found in Lahore and Multan. It was built by Mohammed Quli during 1593-96 and, architecturally belongs to the early Qutub Shahi period. Badshah Ashurkhana is among the oldest imambaras and ashurkhanas in the country. The entrance gateway of this structure too, is of considerable architectural significance. It has a huge semicircular arch with a key stone in its centre. The springing points of the arch rest on pilasters that have simple lime moulding. The arch is enframed by a three side moulding. The gate has arched punctures on its top and a small minaret on a pedestal on its either side. Its huge wooden doors have survived the centuries gone by. The gateway was built during the reign of Asaf Jahi II. The parapet wall of the ashurkhana's main entrance is quite impressive. It is small, multi-clasped arched openings lend it a look of solid and voids. Numerous floral patterns and motifs and the row of ornamental leaves above the arched openings crown the building. While these motifs and the miniature minarets on their pedestal seem to lace the ashurkhana structure, the taller minarets at its ends add verticality to it. The timber colonnades and the wired grill in the facade are subsequently additions to the ashurkhana.

Purshotamdas Mandhana

Everything moves to its own rhythm; we just need to be patient-Ramesh Kumar Bung. 11

01. That day, teacher was teaching behavioural lessons to Tunku. 'If

you crush foot of a gentleman by mistake, what do you do,

Tunku?' Tunku said: 'I immediately apologise him'. Teacher

appreciated: 'Good, now, if the gentleman compliments you and

gives a chocolate in response, what do you do?' Tunku instantly

responded: 'I will at once crush his second foot'.

02. Julie went for an interview to work in a five star hotel. 'I worked

in a great five star hotel earlier, sir' told Julie. The owner asked:

'What is the proof for having worked in such a big hotel?' Julie

replied instantly: 'All the spoons in my house are from that hotel

only' and she repented.

03. Teacher asked: 'If you have five 10 rupee notes in your pocket

and 4 of them disappear, what is there in the pocket?'; Turku

answered: 'It means the pocket has a big hole'.

04. Mother was scolding her daughter left and right. 'Do you have

any sense? You are to be married with a doctor next week and

you are after the medical shop fellow in the street end?' Daughter

replied: 'It is all my fate mummy. I will have to get decoded all the

letters written by my fiancé through the owner of medical shop

owner who can easily decipher'.

05. Mary had beaten a thief brutally who tried to enter house. Then

she called the police. Inspector appreciated her: 'Very good

madam, I like your courage; but, you should have not hurt him

so severely'. Mary explained: 'Sorry sir, I did not want to beat him

so cruelly; I thought that it was my husband Tunku who was

jumping over the gate'.

06. In certain case, Tunku was to be hanged to death. The jailor took

pity on him and asked: ' See, tomorrow early morning you are

going to be hanged; come along with me and drink a couple of

pegs'. Tunku rejected and said: 'No, sir, if I drink, hangover will

continue for a week'.

07. Tunku was proceeding to a village and he lost the way. He found

a person on the way and asked him: 'Can you please tell me how

I should to go the town?' The person replied: 'If you can straight

away go for 40000 kilometres, you can reach the town'. Tunku

sighed: 'Is it that far? Instead, it is to better to go back'. The

person retorted: 'If you go in the reverse direction, you can reach

the town which is 3 KM away'.

08. Doctor Tunku: 'Did the patient come into senses who was in the

coma?' Nurse replied: 'Yes, intermittently he is getting up and

checking WhatsApp and Facebook and slipping into coma

again'.

S. VivekHO: PBD

CORNERCORNERCORNERCORNERCORNER

12

A N S W E R S 01. Keyman insurance is taken by a business

firm on the life of key employee/s to protect the firm against financial losses, which may occur due to the premature demise of the keyman (important person).

02. Life Insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against; Life Insurance is civilisation's partial solution to the problems caused by death; Life Insurance is concerned with two hazards that stand across the life-path of every person; A contract of insurance is a contract of utmost good faith technically known as 'uberrma fides'.

03. To ensure that your immediate family has some financial support in the event of demise; to finance your children's education and other needs; to have a savings plan for the future so that you have constant source of income after retirement; to ensure that you have extra income where your earnings are reduced due to serious illness or accident.

04. Death, disability, accident or retirement. 05. The amount guaranteed to be paid in the

event of loss/ loss of life/insured or survivor on maturity of the policy.

06. The balance of payment crisis in 1991 or managing the transition to a liberalised exchange rate; unified exchange rate; current account convertibility and capital account liberalisation.

07. Fictitious offers of money, secured use of electronic banking facilities, BO Scheme, etc.,

08. USA. 09. Ellora Caves. 10. Efficient and safe market infrastructure. 11. P a y m e n t r i s k , c o u n t r y r i s k ,

political/economic and corporate risk. 12. Letters of Undertaking (LoU) and Letters of

Comfort (LoC). 13. UD dollar, Euro,GBP and Japanese Yen. 14. Letters of Credit and Bank Guarantees. 15. Insurance Companies, PFs and EPFO. 16. Machine Learning (Computer Software). 17. Online shopping, Bill payments, Mobile

recharge, etc., 18. Bottom. 19. They will cut the costs; they will improve the

quality of financial services; unburdened by legacy IT systems and large branch networks and traditional regulations.

20. SSS: Salary Savings Scheme; ULIP: Unit Linked Insurance Policy; GIS: Guaranteed Insurance Sum; GIVE: Gross Investment Value Element.

21. It is legal transference; A method by which the policy holder can transfer his interest to another person; An assignment can be made by an endorsement on the policy document or as a separate deed; Assignment can be of two types: conditional and absolute.

22. These plans provide a person an annuity on monthly/quarterly/yearly basis or a mix of

lumpsum amount as pension to be paid to the policy holder or his spouse. In the event of death of both of them during the policy period, a lumpsum amount is provided for the next of kin according to the terms of the policy.

23. The assured person has to pay an annual premium which is determined on the basis of the age/gender/occupation of assured at entry and the term of the policy; the insured amount is payable either at the end of specified number of years or upon the death of the insured person, whichever is earlier.

24. The person whose life is insured by an individual life policy is called life assured.

25. The policy holder gets period 'survivance payments' during the term of the policy and a lumpsum amount on surviving its term; In the event of death during the term of the policy, the beneficiary gets the full amount assured, without deductions for the amount paid till date, and no further premiums are required to be paid; these types of policies are very popular since they can be tailored to get large amounts at specified periods as per the needs of the policy holder.

26. Payment or one of the regular periodic payments, that a policy holder makes to an insurer in exchange for the insurer's obligation to pay benefits upon the occurrence of the contractually-specified contingency (i.e., death).

27. The value payable to the policy holder in the event of his deciding to terminate the policy before the maturity of the policy.

28. The age at which the receipt of pension starts in an insurance-cum-pension plan.

29. Premiums are paid throughout the life assured; this can be with profits or without profits.

30. IRDA. 31. Hybrid Debt means capital instrument

which possesses certain characteristics of equity as well as of debt.

32. Empowering every Indian with access to a bouquet of e-payment option that is safe, secure, convenient, quick and affordable.

33. Deepening of Digital Payments. 34. Bombay, Calcutta and Madras. 35. Imperial Bank of India. 36. Corporate, Partnership firms, HUF and

Trusts. 37. 1862. 38. 1906.39. Royal Commission on Indian Agriculture

(1928). 40. The Act of 1904 was simple and elastic, the

aim being to lay down merely the general outline and leave the details to be filled in gradually on the lines which the experience of failure or success and the natural development of the societies might indicate as best suited to the different parts of the country.

41. 100. 42. Under the LRS, all resident individuals,

including minors are allowed to freely remit up to USD 250000 per financial year (April-

Life offers us opportunities; when we miss them we may not get another one-Ramesh Kumar Bung.

March) for any permissible currency or capital/current account transactions or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III FEM (CAT) Amendment rules, 2015 dated 26.05.2015 within the limit of USD 250000 only. The Scheme was introduced on 04.02.2004 with a limit of USD 25000. The LRS limit has been revised in stages consistent with prevailing macro and micro economic conditions. In case of remitter being a minor, the LRS declaration form must be countersigned by the minor's natural guardian.

43. Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery tickets, sweep stakes, prescribed magazines, etc.,) or any item restricted under Schedule II of Foreign Exchange M a n a g e m e n t ( C u r r e n t A c c o u n t Transactions) Rules, 2000. Remittances from India for margins or margin calls to overseas exchanges/ overseas counterparty remittances for purchase of FCCBs (A foreign currency convertible bond) issued by Indian companies in the overseas secondary market. Remittances for trading in foreign exchange abroad: Capital account remittances, directly or indirectly to countries identified by the Financial Action Task Force (FATF) as 'non-cooperative countries and territories' from time to time. Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as advised separately by RBI to the banks.

44. The remittances can be made in any freely convertible foreign currency.

45. Banks, NBFC Factors and other financial institutions.

46. A standard nomenclature used in the TReDS for an invoice or a bill on the system; Factoring Unit may be created either by the MSME seller (in case of factoring) or by corporate and other buyers including government departments and PSUs (in case of reverse factoring) as the case may be.

47. AMCs are entities, authorised by RBI under Section 10 of FEMA, 1999. An AMC is a Full Fledged Money Changer (FFMC) authorised by RBI to deal in foreign exchange for specified purposes.

48. Authorised Dealer Category-I Banks (AD- I); AD-II; Full Fledged Money Changers

49. Polymer. 50. Exchange Earners' Foreign Currency

Account is an account maintained in foreign currency with an AD-I bank. It is a facility provided to the foreign exchange earners, including exporters, to credit 100% of their foreign exchange earnings to the account so that the account holders do not have to convert foreign exchange into rupees and vice versa, thereby minimising the transaction costs.

EXPECTATIONS

13We complain that we lack freedom, but are we willing to spread our wings and risk our lives to chase freedom? -Ramesh Kumar Bung.

Neither all your expectations will be fulfilled nor do all your expectations remain unfulfilled. Satisfied needs do not motivate people. A sense of dissatisfaction is an integral aspect of every aspirational individual. The West envies the spiritual roots of the East and the East desires the materialistic comfort of the West. Everyone wants to trade places. 'If only I had your experience', expressed the youth. 'If only I had your age', replied the other. There is no rationale to the impulses of the heart. There is no logic to desires. All expectations are baseless.... and yet life is driven, controlled and run by expectations. Expectations rule life. Instead of expectations managing your life, here are a few transformative steps, so that you can manage your expectations and thus you can manage your own life. Firstly, understand. If you stand under a mango tree but expect oranges, you are setting up yourself for frustration. A mango tree is a mango tree and it was meant to be a mango tree. People are what they are. An organisation is what it is. Life is what life is. You expect people to be other than what they are and you get frustrated about it. You are not only foolish

When any work is done as a choice, you tend to enjoy what you do, and

when it is finally completed, you experience a sense of fulfilment. That

which gives you fulfilment, you look forward to doing it again and again.

On the contrary, when any work is undertaken as a compulsion, you tend

to struggle doing what you do, and when it is finally completed, you

experience only a sense of relief. That which gives you relief, you just want

to avoid it in the future. Even if you do it again, you will only do it

reluctantly.

People who do everything as a choice are always fulfilled in life and hence,

they thirst for more and more of life. People who do everything as a

compulsion are tired of living and hence, they even go to the extent of

desiring to be relieved from the life.

Adults are becoming more reluctant to go to their work than their children

to their school. How else do you explain the increase in the number of

Monday mornings and the crowds of late-goers to office? If everything

essential about life is seen as a compulsion, if everything is pursued as a

struggle and if everything is completed with a sigh of relief, how can we

improve the quality of our career?

Let us add celebration to everything that we do. Let us shift from the

attitude of 'I must do. I should do' to

'I WANT TO DO'. Let every action of ours start as a choice; be filled with

enjoyment and end with fulfilment. If we have to anyhow do, might as

well, let us enjoy what we do.

A disciple asked, 'Master, now that you are enlightened, what you do?' The

master replied, 'I draw water from the well and chop woods'. The disciple

further enquired, 'Before you got enlightened, what used to do?' The

master replied, 'I used to draw water from the well and chop woods'. The

puzzled disciple questioned, 'there seems to be no difference in your

actions, then and now'. The master said, 'Oh, there is no difference in my

actions but the quality with which I do my actions have changed'.

Remember, there is no way to happiness. Happiness is the way.

Raghuram ShettyGeneral Manager

enough to expect oranges from a mango tree but you are also angry at the mango tree for not giving your oranges. Where lies the stupidity? Either change your expectations according to the tree or find the tree aligned to your expectations or grow your own tree. That is the only way to peaceful progress. There is no other way. Secondly, define your expectations clearly. So often we are ambiguous unto ourselves. Thirdly, clarify your expectations explicitly. So often, people do not even know what you are expecting from them. Then, how can they fulfil it for you? Life is already complex. Let us not complicate it further for others. One way to love people is to make it simple for them. So, simplify life for others by clarifying your expectations explicitly. Finally, instead of trying to change the whole world, change what is in your control... that is yourself. Instead of directing expectations towards the world, start turning your expectations unto yourself. By expecting from the world, you are at others' mercy. By expecting from yourself, you take control over your own life. Expectation management is actually life management.

Ramesh Kumar Bung

YOU CAN CELEBRATE YOUR BIRTHDAY EVERY THREE MONTHS ON MERCURY

MY CHOICE – MY DECISION

So far, we have known about the Milky Way, our solar system and the Sun.

Now from this month onwards, we will be learning about all the planets

which rotate around the Sun.

Mercury is the smallest planet in our solar system. It's just a little bigger

than Earth's moon. It is the closest planet to the sun, but it's actually not the

hottest. Venus is hotter.

Along with Venus, Earth, and Mars, Mercury is one of the rocky planets. It

has a solid surface that is covered with craters. It has a thin atmosphere,

and it doesn't have any moons. Mercury likes to keep things simple.

This small planet spins around slowly compared to Earth, so one day lasts

a long time. Mercury takes 59 Earth days to make one full rotation. A year

on Mercury goes by fast. Because it's the closest planet

to the sun, it doesn't take very long to go all the way

around. It completes one revolution around the sun in

just 88 Earth days. If you lived on Mercury, you'd have

a birthday every three months!

A day on Mercury is not like a day here on Earth. For

us, the sun rises and sets each and every day. Because Mercury has a slow

spin and short year, it takes a long time for the sun to rise and set there.

Mercury only has one sunrise every 180 Earth days! Isn't that weird?

What does Mercury look like?

A. V. Rama Rao

THE STORY OF A MONKEY AND A BIRD

A troupe of monkeys was living somewhere in the mountains. It was

winter. The rain accompanied by a strong wind, drenched their

bodies, and they shivered with cold. Some of the monkeys found

some red Gunja fruits and began to blow them hoping to make fire

from them. A bird, by the name Suchimukha, saw their vain attempt

and said to them, 'What big fools you are! Those are not embers of

fire, they are only gunja fruits. You are wasting your time. These fruits

can never protect you against the cold. Find some place to shelter in a

jungle or a cave or a burrow, where the rain and the wind cannot

reach you'.

One of the old monkeys said, 'Fool yourself. What is it to do with you?'

But, disregarding what the old monkey had said, the bird persisted in

asking why the monkeys were making such an effort and all to no

purpose and he refused to stop his chatter. One monkey, who had

become frustrated by his vain efforts, caught hold of the bird by the

wings and smashed him against a stone, killing him.

Advice given to fools, instead of calming them only makes them more

excited. Just as giving milk to snakes only increases their poison.

THE STORY OF DHARMABUDDHI AND PAPABUDDHI

In a village, there lived two friends, whose names were

Dharmabuddhi and Papabuddhi. One day, Papabuddhi thought to

himself, 'I am not only poor, but also not so bright, so I shall get

Dharmabuddhi's help, go with him to another kingdom and make

some money. Then, I shall cheat him of his share of the fortune, and

live happily ever after'. And so, after a few days, Papabuddhi said to

Dharmabuddhi, 'My friend, How are you planning to provide for

your old age? Let us go to a foreign country and make money there.

Besides, unless you travel abroad, what stories will you tell your

grandsons?'

Dharmabuddhi readily agreed to accompany Papabuddhi and carry

out his plan. He took leave of his parents and, on an auspicious day,

set out with Papabuddhi on their travel. Through Dharmabuddhi's

cleverness, the two of them made a lot of money and after some time,

returned home, extremely pleased with themselves. As they were

approaching their own village, Papabuddhi said to Dharmabuddhi,

'Friend! It is not a good idea to carry this entire money home, because

then our friends and relatives will want a share of it. So, let us take

home only a nominal amount and bury the rest in the jungle. When

the necessity arises, we can come back and dig it out.

Dahrmabuddhi agreed to the suggestion. After burying most of the

money, they returned home with the reminder and lived happily.

Sometime after, at dead of night, Papabuddhi went to the jungle,

uncovered all the money that was buried there, took it out, and closed

the pit as it had been before. Then he returned home with the money.

After a few days, Papabuddhi wnet to Dharmabuddhi and said,

'Friend! I have a large family and as a result my money is all gone. Let

us go and fetch some more money from the place where we buried it'.

Dharmabuddhi agreed. When the two arrived at the place, they dug

up the pit and found the money pot empty. Papabuddhi began to

beat his head, crying out, 'Oh Dharmabuddhi! Only you and nobody

else could have stolen the money and filled in the pit. Give me back

my half or I shall make a complaint against you in the court of law'.

Dharmabuddhi said, 'You scoundrel! Don't you talk like that! I am

indeed Dharmabuddhi. I could never commit such a theft'.

And so, fighting like this, they went to the judges and accused each

other. The judges ordered them to submit themselves to trial by fire to

find out the truth. But Papabuddhi said, 'This decision is not good.

The goddesses in the trees of the jungle nearby will be my witnesses.

They will be able to reveal to us, which one is a thief and while one is

an honest man'. The judges said, 'You are right. We are very anxious

to know the truth about this. So, tomorrow morning you must both

accompany us to the jungle'.

After that, Papabuddhi went home and said to his father, 'I have

stolen a huge amount of money belonging to Dharmabuddhi and we

have taken the matter to the court. Now only your cooperation will

save me. Otherwise, I shall lose not only the money but also my life'.

The father said, 'My son! Tell me quickly what I can do to save you and

make the money secure'. Papabuddhi said, 'Well, in the jungle, there

is a Shami tree, which is hollow inside. You get into the hollow now so

that, tomorrow morning, when we come with the judges to find out

the truth, you can shout from inside the tree, 'Dharmabuddhi is the

thief'.

His father agreed to this arrangement and left immediately. Next

morning, Papabuddhi took an early bath and accompanied by

Dharmabuddhi and the judges, went to the Shami tree and asked in a

loud voice, 'Oh goddess in the tree! Tell us which one is the thief'.

Immediately, Papabuddhi's father, hidden inside the hollow of the

tree, replied, 'Listen! It is Dharmabuddhi who stole the money'. When

the judges heard this, they were wonderstruck. They opened their

eyes wide and immediately started discussing how to punish

Dharmabuddhi according to the law. But, meanwhile,

Dharmabuddhi put a heap of dried leaves and grass in front of the

hollow of the tree and set fire to it. When the fire was blazing, out came

Papabuddhi's father, crying out pitifully, with half his body burnt and

his eyes popping out.

They all said to him, 'Friend, what has happened to you?' He replied

that it is all Papabuddhi's fault and all that he had done. Then the

judges hanged Papabuddhi on the same Shami tree. They praised

Dharmabuddhi and recovered all the money and handed over to

him.

T. Gangadhar Rao

Head Office

Preplanning your life can yield so much joy and ease the entire anxiety-Ramesh Kumar Bung.14

PANCHATANTRAPANCHATANTRAPANCHATANTRA

BIDDING FAREWELL

Live in the present moment; it is the only moment that exists-Ramesh Kumar Bung. 15

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Umesh Chand Asawa, MD & CEO bidding farewell to Sri M. Gopal, Manager, Head Office who retired from the services of the Bank.

Sri Purshotamdas Mandhana, Chairman, Sri Ramesh Kumar Bung, Chairman-Emeritus, Sri Umesh Chand Asawa, MD & CEO bidding farewell to Sri K. Bhaskarachary, Emp: 0245, Asst. Manager, Vanasthalipuram Branch who retired on attaining superannuation.

www.apmaheshbank.com16

BOOK-POSTPRINTEDMATTERBOOK-POSTPRINTEDMATTER

The Reserve Bank of India's Monetary Policy Committee led by governor Shaktikanta Das on 06.06.2019 cut the repo rate by 25 basis

points, making it three cuts in a row and bringing it to a nine-year low. With the present repo rate cut, the RBI MPC has eased the central

bank's monetary and credit policy rates by a cumulative 75 basis points since February. The repo rate, at which banks borrow money from

RBI, now stands at 5.75%; and the reverse repo rate, at which banks lend to RBI, is now at 5.5. The CRR is kept unchanged. The RBI MPC

voted unanimously by 6-0 in favour of a 25 basis points policy rate cut. Additionally, the policy stance has also been eased to

'Accommodative' from 'Neutral'.

The RBI MPC had cut the short-term lending rate or repo rate by 25 basis points each in its last two reviews in February and April. The

latest cut today comes at a time when India's Q4 FY-19 GDP growth rate fell to a five-year low of 5.8 per cent. Even though inflation has

remained very much under control, the liquidity had been in deficit mode for the past few months, raising flags on banks' ability to

continue to lend.

RBI MONETARY POLICY EASED: RBI MONETARY POLICY EASED: REPO RATE CUT TO LOWEST IN 9 YEARS REPO RATE CUT TO LOWEST IN 9 YEARS DUE TO SLOW ECONOMIC GROWTH DUE TO SLOW ECONOMIC GROWTH

RBI MONETARY POLICY EASED: REPO RATE CUT TO LOWEST IN 9 YEARS DUE TO SLOW ECONOMIC GROWTH

Printed & Published by Smt. Ranjana Sharma on behalf of

Andhra Pradesh Mahesh Co-operative Urban Bank Ltd.,

Head Office : 8-2-680/1&2, Road No. 12, Banjara Hills, Hyderabad - 500 034, Telangana State, INDIA

Tel. : 040 2461 5296 / 99, 2343 7100 - 7103 & 7105

Fax : 040 2461 6427, E-mail : info@apmaheshbank.com

Website : www.apmaheshbank.com

Fore-HAMARAPRAYASPleasevisitourwebsitewww.apmaheshbank.com

CURRENT RATES:

01. : 5.75% POLICY REPO RATE

02. : 5.50% REVERSE REPO RATE

03. : 6.00% MARGINAL STANDING FACILITY RATE

04. : 6.00% BANK RATE

05. : 4.00% CRR

06. : 19.00% SLR

07. : 3.50% SAVINGS DEPOSIT RATE