Banking Chronical Series September 2013

Banking Chronical Series September 2013 Current News 10 September 2013

RBI sets target of opening 800 new bank branches in Himachal by 2014

RBI sets target of opening 800 new bank branches in Himachal pradesh to cover the localities having 2000 or less population.

General Manager of RBI, Shimla R S Negi said that the RBI had achieved target of financial inclusion after opening bank branches in these having more than 2000 population in year 2012.

Negi asked the representatives of Panchayati Raj to come forward to seek new bank branches so that the they could be opened in the targetted villages.

Now RBI is covering villages having less than 2000 census especially places where people have to trek upto 15 to 20 km distance from their home to get banking services.

RBI has set a target to open 800 new branches in the state by year 2014-15 to provide banking service of brick and mortar and online banking correspondence facilities.

Chhattisgarh selected for National Literacy Award

Chhattisgarh has been selected for this year's prestigious National Literacy Award for the first time since its formation in November 2000. 

The award was presented on the International Literacy Day celebrated on September eight. 

In 2001, the literacy rate of Chhattisgarh was 64.66 per cent, which has been increased to 70.28 per cent in 2011. The women literacy rate was more than that of men during this period. 

Chief Minister Raman Singh and School Education Minister Brijmohan Agrawal have congratulated the officers, employees, motivators and instructors involved in the Literate India Programme for this achievement.

AIR to provide latest news through SMS

All India Radio on Monday launched a free SMS service to provide important news to subscribers and keep them updated with the latest happenings around.

The service was launched by Information and Broadcasting Manish Tewari, who also launched the Bharat Nirman online portal.

The service was launched on a pilot scale about six months back. As it received overwhelming response, its reach is being widened, Mr. Tewari said.

He hoped the service which is subscribed by two lakh people at present will touch the five lakh figure by the end of this month.

AIR is able to access information from extremely remote parts of the country, he said and added that with this service, “we want to ensure events taking place in northeast and others parts, get mainstreamed.”

People willing to subscribe to the service can simply SMS ‘AIRNEWS space name to 08082080820’. They can also give a missed call to the said number to subscribe to the service.

Along with news headlines, a small message regarding public utility schemes of the government will be tagged.

Nagaland first to use VVPAT device for voting

Nagaland became the first state to use the high-tech voter recording system 'Voter Verifiable Paper Audit Trail' (VVPAT) with Electronic Voting Machines for the by-elections to Noksen Assembly constituency. 

VVPAT is a device attached with EVMs which leave a verifiable paper trail of votes cast in an election.

It allows the voter to check whether his vote has been recorded with the candidate he had wished to vote for in the EVM. 

Delhi Cabinet clears pension scheme for unorganized sector

Delhi Cabinet clears pension scheme for for un-organised and informal sector workers was today cleared by Delhi government.

A meeting of Delhi Cabinet, presided by Chief Minister Sheila Dikshit, cleared the proposal to launch Dilli Swavalamban Yojana.

The pension scheme would be open to all workers in the age group of 18-60 years. Each of the workers will have to contribute Rs 1,000 per annum and an equal amount would be given by the city government.

At the age of 60 years, a worker can withdraw 60 per cent of the total amount from his account and balance 40 per cent would remain in his account for which the beneficiary will be given pension and have the option of exiting the scheme before attaining the age of 60 years. 

In case of the death of the beneficiary, the entire corpus amount will be given to his nominee.

The Chief Minister said the Cabinet has decided to allow Bombay Natural History Society (BNHS) to run Conservation Education Centre at Asola Bhatti Wildlife Sanctuary in Tughlakabad for a period of five years at a cost of Rs 2.23 crore.

PM releases commemorative stamp on Lala Jagat Narain 

Prime Minister Manmohan Singh on Monday released a commemorative stamp in memory of freedom fighter and veteran journalist Lala Jagat Narain. 

The Rs five denomination stamp was released on his 32 death anniversary in the presence of Union ministers, chief ministers, members of his family and the Hind Samachar Group which he founded. 

The veteran journalist was shot dead near Ludhiana on this day in 1981 when terrorism in Punjab was at its peak. 

Even in jail, he contributed to the freedom struggle by working as a secretary to Lala Lajpat Rai. 

He was again jailed for three years for participating in the Quit India Movement and spent a total of nine years behind the bars during the freedom struggle.

Ritu Rani to lead Indian women's hockey team in Asia Cup

Veteran midfielder Ritu Rani will lead an 18-member Indian women's hockey team in the eighth Asia Cup to be played in Kuala Lumpur, Malaysia from September 21 to 27. 

Ritu has 157 India appearances to her credit. The 18-member squad will have another mid-fielder Chanchan Devi Thokchom (88 caps) as the vice-captain. 

The team's training camp is has been underway in Patiala since August 8 as final preparations for the tournament. The team will depart for Malaysia on September 16. 

India are placed in Pool A with China, hosts Malaysia and Hong Kong China while Korea, Japan, Kazakhstan and Chinese Taipei are placed in Pool B. 

India will open their campaign against Hong Kong China on September 21 followed by China on September 22 and hosts Malaysia on September 24. 

The Women's Asia Cup is the continental qualification tournament for the FIH Women's World Cup 2014 to be played in The Hague, The Netherlands from 31 May-14 June 2014.

New Companies Act 2013

The government on Monday released the first set of draft rule to implement the new companies law that recently received Parliament's nod, applying the provision on mandatory rotation of auditors retrospectively.

According to industry estimates the top 300 companies are audited by 10 firms and experts say the mandatory rotation within the next three years could trigger a lot of chaos and confusion.

Listed companies will have three years to replace auditors that have been with them for 10 years or more.

The most contentious chapter of the rules seems to be Chapter 10 on Audit and auditors as it makes it mandatory for listed companies to change their auditor within the next three years in case the firm has already completed the maximum limit of 10 years. 

The rules for unlisted company are still under consideration.