Bihar government acknowledges transgender as third gender
The Bihar government recognized recognise kinnar/kothi/hijra/transgender (eunuch) as “third gender”.
The cabinet acknowledged declaring them as backward class annexure II category which will offer them quota advantage for availing or getting government jobs. The Transgenders from upper castes will be considered as OBC annexure II and get reservation advantages, however transgenders from Scheduled Castes and Scheduled Tribes will continue in the same castes.
Earlier in 2014, the Supreme Court delivered a judgment recognizing transgenders as third gender and called for the Union Government to consider transgender as socially and economically backward. The Supreme Court in its judgment held that the transgenders should be permitted admission to educational institutions and given work on the footing that they fit in the third gender category and they should be regarded as as OBCs.
The Bihar government recognized recognise kinnar/kothi/hijra/transgender (eunuch) as “third gender”.
The cabinet acknowledged declaring them as backward class annexure II category which will offer them quota advantage for availing or getting government jobs. The Transgenders from upper castes will be considered as OBC annexure II and get reservation advantages, however transgenders from Scheduled Castes and Scheduled Tribes will continue in the same castes.
Earlier in 2014, the Supreme Court delivered a judgment recognizing transgenders as third gender and called for the Union Government to consider transgender as socially and economically backward. The Supreme Court in its judgment held that the transgenders should be permitted admission to educational institutions and given work on the footing that they fit in the third gender category and they should be regarded as as OBCs.
Subhash Chandra Garg selected as the ED of the World Bank
Senior IAS officer Subhash Chandra Garg, a 1983-batch IAS officer of Rajasthancadre, was selected as the ED (Executive Director) of the World Bank. The order released by the Appointments Committee of Cabinet (ACC) held that Subhash Garg will have tenure of 3 years from the date of assuming charge of the post.
An ED of the World Bank is accountable for the conduct of the general operations of the Bank. They also carry out all the powers authorized to them by the Boards of Governors and choose a President who performs as Chairman of the Boards.
EDs are also accountable for IBRD’s (International Bank for Reconstruction and Development) loans, guarantees and policies that effect the World Bank’s general operations amid others.
Senior IAS officer Subhash Chandra Garg, a 1983-batch IAS officer of Rajasthancadre, was selected as the ED (Executive Director) of the World Bank. The order released by the Appointments Committee of Cabinet (ACC) held that Subhash Garg will have tenure of 3 years from the date of assuming charge of the post.
An ED of the World Bank is accountable for the conduct of the general operations of the Bank. They also carry out all the powers authorized to them by the Boards of Governors and choose a President who performs as Chairman of the Boards.
EDs are also accountable for IBRD’s (International Bank for Reconstruction and Development) loans, guarantees and policies that effect the World Bank’s general operations amid others.
Union Ministry of Science & Technology announces “KIRAN” scheme for Women Scientists
The Union Ministry of Science & Technology also announced KIRAN (Knowledge, Involvement, Research, Advancement through Nurturing) for women scientists –A unique advertising scheme to bring about, as far as possible, gender equality in the field of science and technology.
Objectives:-
- To increase the number of women researchers in India.
- Provide Research grants particularly to those female researchers and technologists who had to take a break in career owing to household reasons.
- Bring about, as far as achievable, gender parity in the field of science and technology.
The scholarships will be provided under three categories-
- For those women linked in research work in basic or applied sciences with any central or state level organization or university
- For those women scientists involved in research and application of innovative solutions for several social problems
- For those researchers who are self-employed.
Under the scheme, the Union Ministry of Science & Technology will build leadership positions for women. Such a scheme would be beneficial for women who face unavoidable interruptions in their careers owing to numerous reasons.
The Union Ministry of Science & Technology also announced KIRAN (Knowledge, Involvement, Research, Advancement through Nurturing) for women scientists –A unique advertising scheme to bring about, as far as possible, gender equality in the field of science and technology.
Objectives:-
- To increase the number of women researchers in India.
- Provide Research grants particularly to those female researchers and technologists who had to take a break in career owing to household reasons.
- Bring about, as far as achievable, gender parity in the field of science and technology.
The scholarships will be provided under three categories-
- For those women linked in research work in basic or applied sciences with any central or state level organization or university
- For those women scientists involved in research and application of innovative solutions for several social problems
- For those researchers who are self-employed.
Under the scheme, the Union Ministry of Science & Technology will build leadership positions for women. Such a scheme would be beneficial for women who face unavoidable interruptions in their careers owing to numerous reasons.
Union Government makes it compulsory for scientists to take on lectures in Public schools & colleges
Over 5,000 “highly accomplished” scientists employed with numerous departments under the Science and Technology Ministry will dedicate time to teach students of many schools and colleges in the country. It would be “mandatory” for the scientists various departments to essentially, formally, take lecture classes in schools and colleges.
Scientists working in different central organizations including the Council forScientific and Industrial Research (CSIR) will assume 12 hours of lecture classes in an academic year in public-funded schools and colleges throughout the country. This will be executed in synchronization with the Union Ministry of Human Resources Development. This is a kind of arrangement of free of any honorarium and it will be part of the duty the scientists.
Over 5,000 “highly accomplished” scientists employed with numerous departments under the Science and Technology Ministry will dedicate time to teach students of many schools and colleges in the country. It would be “mandatory” for the scientists various departments to essentially, formally, take lecture classes in schools and colleges.
Scientists working in different central organizations including the Council forScientific and Industrial Research (CSIR) will assume 12 hours of lecture classes in an academic year in public-funded schools and colleges throughout the country. This will be executed in synchronization with the Union Ministry of Human Resources Development. This is a kind of arrangement of free of any honorarium and it will be part of the duty the scientists.
ICICI Bank presents ‘Cardless Cash Withdrawal’ – Withdraw cash from ATM without a card
ICICI Bank has initiated ‘Cardless Cash Withdrawal’, a facility that permits its customers to transfer money from their account to anybody in India with a mobile number. The recipient can withdraw money anytime without using a debit card from ATMs of ICICI Bank all over India. The receiver can do this even without having a bank account of any bank.
Currently, electronic remittances are probable for only those with a bank account. Beneficiaries who don’t have a bank account can receive cash only via money order which is an expensive and time consuming course for remittances.
The ‘Cardless Cash Withdrawal’ service can be started by any ICICI Bank savings account customer (sender):
- ICICI Bank savings account customer (sender) logs into the Internetbanking.
- Register the recipient’s name, mobile number and address.
- The sender receives a 4-digit verification code
- The recipient receives a 6-digit reference code, over SMS on his mobile.
- The recipient can now go and withdraw cash from any ICICI Bank ATM by entering the mobile number, cash amount along with the verification and reference code, within 2 days of the transaction.
This service can also be used by the ICICI Bank’s account holders to withdraw cash from their own accounts without using a debit card.
ICICI Bank has initiated ‘Cardless Cash Withdrawal’, a facility that permits its customers to transfer money from their account to anybody in India with a mobile number. The recipient can withdraw money anytime without using a debit card from ATMs of ICICI Bank all over India. The receiver can do this even without having a bank account of any bank.
Currently, electronic remittances are probable for only those with a bank account. Beneficiaries who don’t have a bank account can receive cash only via money order which is an expensive and time consuming course for remittances.
The ‘Cardless Cash Withdrawal’ service can be started by any ICICI Bank savings account customer (sender):
- ICICI Bank savings account customer (sender) logs into the Internetbanking.
- Register the recipient’s name, mobile number and address.
- The sender receives a 4-digit verification code
- The recipient receives a 6-digit reference code, over SMS on his mobile.
- The recipient can now go and withdraw cash from any ICICI Bank ATM by entering the mobile number, cash amount along with the verification and reference code, within 2 days of the transaction.
This service can also be used by the ICICI Bank’s account holders to withdraw cash from their own accounts without using a debit card.
Union Cabinet approves sale of shares in ONGC, Coal India, NHPC
Commencing the mammoth disinvestment drive, the CCEA (Cabinet Committeeon Economic Affairs) headed by Prime Minister, approved the sale of shares in Coal India, ONGC and NHPC to garner a combined Rs 43,000 crore.
At current market prices, the sale of shares in state-owned CIL, ONGC and NHPC could bring over Rs 23,000 crore, Rs 18,000 crore and Rs 2,800 crore respectively, assisting the government meet its disinvestment target of Rs 43,425 crore for this fiscal. CCEA cleared 10% stake dilution in CIL (Coal IndiaLimited), 5% in ONGC (Oil and Natural Gas Corporation Limited) and 11.36% in NHPC (National Hydroelectric Power Corporation) via the Offer For Sale (OFS) route.
The government has earlier missed its disinvestment goal for 5 successive financial years:-
- 2010-11 and 2011-12: Government could raise Rs 22,144 crore and Rs 13,894 crore via disinvestment, against the budgeted target of Rs 40,000 crore in each year.
- 2012-13: Govt. could raised Rs 23,956 crore, as against the target of Rs 30,000 crore.
- 2013-14: Government could raise Rs 16,027 crore, as against the budgeted aim of Rs 40,000 crore. The target in revised estimates was scaled down to Rs 16,027 crore.
A planned stake sale in CIL in 2013-14 had to be deferred after stiff opposition from the trade unions. The coal major had to make up for that by paying about Rs 19,000 crore as dividend to the exchequer. The government, which holds a 89.65% stake in CIL, initially sought to divest a 10 per cent stake but lowered it to 5% on account of opposition from the unions. Government holds 85.96% stake in NHPC. The stake sale would help the company comply with the minimum 25% public shareholding norm of market regulator SEBI.
The disinvestment department has already selected three merchant bankersfor managing the NHPC stake sale:
- Edelweiss Financial
- IDFC Capital
- HSBC Securities
In the current fiscal, the government plans to mop up Rs 43,425 crore from selling its stakes in PSUs.
RBI gets tough; says, if a company is unable to repay then that could lead to other group units and management being termed ‘wilful defaulters’
RBI in order to put intense pressure on businessmen, whose companies default in future, has intensified wilful defaulter rules. Now if a company is unable to repay then that could lead to other group units and management being termed ‘wilful defaulters’.
RBI held: “In cases where guarantees furnished by group companies on behalf of the wilfully defaulting units are not honoured when invoked by the banks, such group companies should also be reckoned as wilful defaulters.”
Thus, this cross default condition would apply if the offending borrower has raised up funds on the strong point of the balance sheet of its other group companies. Banks have also been asked to recover from personal guarantees offered by promoters even without draining other ways. The new norms have comes as a result of cases like Kingfisher Airlines where regardless of having a promoter guarantee and the existence of cash-rich companies in the group, lenders are realizing it as a challenge to raise funds.
RBI held that “It is clarified that this would apply only prospectively and not to cases where guarantees were taken prior to this circular. Banks may ensure that this position is made known to all prospective guarantors at the time of accepting guarantees.”
The modified guidelines nevertheless will not be of much benefit to banks in recovering from present borrowers like Kingfisher Airlines as they apply onlyprospectively and not to cases where guarantees were taken prior to this circular. Around 5% of the loans in the Indian Banking system are in default whereas another 5% are under stress and have been offered some flexibility in repayment under a restructuring programme. Clarifying on its earlier norms the RBI had said the defaulting ‘unit’ appearing therein would include individuals, juristic persons and all other forms of business enterprises, whether incorporated or not.
The new norms have come soon after the RBI governor Raghuram Rajan recently held that the wilful defaulter tag is a powerful weapon in the hands of creditors.
See: “Willful defaulter tag is a powerful weapon in hands of banks for resolving bad loans”: RBI Governor
RBI sets upper age limit for private bank CEOs at 70
The RBI brought relief for investors in HDFC Bank and IndusInd Bank, who have been anxious about the destiny of their celebrated chiefs who have provided massive returns in the past few years. Full-time directors of Pvt. banks can now continue up to the age of 70, in line with the Companies Act 2013. The bank boards will, nevertheless, hold the right to set a lower retirement age for officials.
RBI has been decided that the upper age limit for MD & CEO and other WTDs (Whole-Time Directors) of banks in the private sector should be 70 years, i.e.- beyond which no person should remain in the post. Within the overall limit of 70 years, individual bank’s boards are free to fix a lower retirement age for the WTDs, counting the MD & CEO, as an internal policy.
This view received further credence after the P J Nayak committee proposed a maximum age of 65 for bank CEOs. The committee, to review governance of boards of banks, had made the suggestion in its report to RBI this May.
Whilst RBI can take decision on what can be done at private banks as they are governed by the Companies Act, the Parliament has to amend the Bank Nationalisation Act to permit parallel provisions for state-run banks.
- This is the first time RBI is prescribing retirement age for Pvt. bank CEOs.
- The RBI Move aligns retirement with the Companies Act 2013
- Minimum age to become Manager is 21 years.
- Maximum age for CEOs, whole-time directors is 70.
- Age of Top Bank CEOs: Aditya Puri (MD & CEO HDFC Bank: 64 Years), Romesh Sobati (MD & CEO IndusInd Bank: 65 Years), Chanda Kochar (MD & CEO ICICI Bank: 52 Years).
Apple unveils bigger iPhone 6, 6 Plus & Apple Watch
Apple surprising its admirers as usual unveiled 2 new smartphones – iPhone 6 and iPhone 6 Plus – and a new smart-watch simply called Apple Watch at a function in San Francisco, US. Apple Watch, is a miniature computer strapped around the wrist and is the first product made under CEO of Apple, Timothy D. Cook’s leadership.
iPhone 6 and 6 Plus are the thinnest phones that Apple has ever made. With 4.7- and 5.5-inch screens respectively, the two phones make Apple enter into the big-screen smartphone segment. The pixel density has been improved with the smaller one having 38% more pixels at 1334x750p resolution and iPhone 6 Plus sporting 185% more pixels with screen resolution of 1920x1080p. The new display panels Retina HD, are termed as “new generation” of iPhone screens. iPhone 6 is up to 50% more energy efficient.
The handsets are most probable to hit Indian markets around Diwali in October end or in November 2014.
.jpg)
0 comments:
Post a Comment