To elaborate further, we know the instance of how the securities of Global Trust Bank Ltd. were sold of by the OBC. ALSO, most of the PSU banks have head offices which are owned by them. Incase no clear-cut guidelines are framed by the GOI, the land/building of head offices of the merged banks will be acquired by land sharks/politicians for a song - imagine ( only imagination as an example )if IOB or Indian bank were to be merged with any big bank, and the acquiring bank decide to dispose of the land/building of the head offices situated in Anna Salai or Beach Road in Chennai!...

Yes sir. I fully agree with you. I was just showing why the Chinese are way ahead of us in planning and execution of their plans and projects. Our democrcy even with its weaknesses is surely million times better than the Chinese autocracy. See what our Honourable Prime Minister has said in Washington: Prime Minister Manmohan Singh sought to downplay the recent US-China joint statement saying it`s not of "direct concern" to him, but asserted that India will not choose the "non-democratic" Chinese path of high economic growth, but its own route of democracy and development. In a veiled critique of China, Manmohan Singh said although India`s economic performance may not match that of China`s, but it would still prefer the Indian democracy rather than the Chinese non-democratic path. "There is no doubt that the Chinese growth performance is superior to the Indian performance," he said in response to another question on why the Indian economic performance was lagging behind that of China`s. "But I have always believed there are other values which are more important than the growth of gross domestic product like respect for fundamental human freedoms, respect for rule of law, respect for multi-religious, multi-ethnic rights," he said. "Certainly, I would like to choose the Chinese path. I would like to stick to the Indian path," he stressed. ...

It does not matter if you offend someone as long as you do not use profanities, you are just speaking the truth. I think Canara bank is going for Dena bank and UBI is merging with Corporation bank. Andhra bank might be amalgamated as well. There is Syndicate and Vijaya banks also, both headquartered in Karnataka (like Canara and Corporation) which could be up for grabs. Bank of Maharashtra does not provide similar scale but might find the going tough as per Basel II norms. I also expect merger of SBI associates to happen sooner. The east based banks, Allahabad, UCO and the unlisted United Bank of India, I do not know what happens to them. Pranab Mukherjee might want them to merge but he won`t like another volatile situation in WB before assembly elections in 2011. ...

govt all plan is very slowly works so may be consume more time to merget all bank each other but all psu bank is under value all mostly iob , allhabad and andra rate is closly her book value buy in think shares actual value more than 3 times owns book value in the mkt so psu is cheep good for long term ...

So finally at is d victory of mills.Now they wl pay Rs175/qunt as SAP instead of Rs280 demanded by farmers.So everybody can c how politicians pocketed money and fooled farmers.All sugar stocks wl zoom on monday/tuesday when real picture wl emerge....

As per commutation of pension rules 1981 Chapter VI 6.12 whenever there is a revision in pension, difference in commutation is to be paid without any application...

one more thing i would like to suggest, psu doesn`t mean inferior. most of the past employee of psu are working in pvt banks. Also RBI is PSU but is renowed world over for its governess. so just remove that mind set. today you go to icicic bank branch you will see huge croud like state bank of India. But at IDBI its a differance as minimum deposit in saving account is Rs10000/- so thay are capturing elite class & are sucessful in it. ...

To elaborate further, we know the instance of how the securities of Global Trust Bank Ltd. were sold of by the OBC. ALSO, most of the PSU banks have head offices which are owned by them. Incase no clear-cut guidelines are framed by the GOI, the land/building of head offices of the merged banks will be acquired by land sharks/politicians for a song - imagine ( only imagination as an example )if IOB or Indian bank were to be merged with any big bank, and the acquiring bank decide to dispose of the land/building of the head offices situated in Anna Salai or Beach Road in Chennai!...

Any merger of PSU banks is accompanied by boon to some small coterie and pain/sorrow to others in the SHORT TERM. The acquiring bank management would normally (IRRESPECTIVE OF WHETHER THE DECISION IS GOOD OR BAD) vacate prime-location premises (due to political/other considerations) of the bank acquired, dispose of some other IPs of the bank merged, dispose of good stocks/shares/bonds in the treasury of the acquired bank to book profit immediately. The above was more visible in the case of the last merger of a nationalised bank i.e. New Bank of India with PNB and lot of mudslinging (some genuine and some incorrect) against the then management of PNB. Government of India, while framing any scheme for merger of individual banks, MUST AS A POLICY STAND, should ensure that NO immovable property owned by the acquired bank should be disposed of atleast for 5-years, any vacation of leased premises ATLEAST in prime-locations of the acquired bank should be approved by a Committee of Board of Directors of the Bank, and all sale of treasury bonds/stocks/shares must be approved by the Investment Committee in which atleast one Govt.nominee should be there. THis will go a long way in ensuring non-interference of political/other considerations at the time of mergers....

goldentip, The case of Indian Bank is also interesting. Till such time, PC was FM, the merger was ruled out. Now there is a slight chance. Now that Andhra State elections have recently been held and YSR is not there, there would not be much hurdle for merger of Andhra Bank with PNB or BOB or any other big bank, and also given the good fundamentals of Andhra Bank....

goldentip, Yes, the present CMD of PNB was the CMD of Allahabad Bank earlier. But, PNB, why for that matter any major nationalised bank, would not like to merge any kolkata-based bank (sorry, if I offend anyone). Why I am saying is that PNB itself had experience many a times in the region. Now, the news (as per UTV) is that Union Bank has made presentation for merger of Corporation Bank with itself. Incase PNB is to go in for merger of another bank, the next fundamentally good bank (after Corporation Bank) is Andhra Bank. Who knows what is the call of the political master? ...

cmet, Any Indian citizen who had experienced the mini-communist ways of governance during the emergency of 1975 will vouch that no price is big for the democracy as practised in India....

iinvestr, Let us pray that the sardarjis in Planning Commission and South Block will not push the public in general and the investors in particular repenting for the short-sightedness of the UPA Government in not having given extension to the tenure of Mr. YV Reddy, the previous Governor of RBI. ...

robin_gupta 35, May be merger of IOB with BOB or PNB is a possibility. But, the real test for the present FM will be whether whether he can ensure merger of Indian Bank with any other big bank? ...

radhika_nandlal, If Anil is so aggrieved, let the MOU be made public. We people take sides without knowing what is in it.
That too, in a matter where the interest of both the brothers are high.

However, take the case of Delhi power consumers. I understand the Reliance ADAG run BSES is sending hefty bills and citizens are protesting. The way power distribution was distributed in Delhi is well-known and I have earlier posted the observations of the CAG in MMB. Is it why the God is troubling ADAG?
...

radhika_nandlal, I beg to differ.

I am quoting a post of 16th Oct.2009 from Indiannotion dot com.(Quote) CBI noose dangles over Raja’s head
J Gopikrishnan | New Delhi

The Central Vigilance Commission’s order for a CBI probe into the controversial 2G spectrum allocation is going to hit the Prime Minister’s -honoured colleague- and Telecom Minister A Raja.

The in-house investigation by the CVC had pinpointed -malafide motives and blatant corruption- by Raja’s own men — former Telecom Secretary Siddharth Behura, former Private Secretary RK Chandolia (currently Economic Adviser to DoT) and DDG of Access Service AK Srivastava — in the dubious spectrum allocation, resulting in a loss of more than Rs 60,000 crore to the public exchequer, said sources.

The CVC’s move has put the UPA Government in a fix. According to highly placed sources in CVC and Department of Telecom (DoT), the CBI will quiz the -tainted officials-, and file an FIR. The CVC order came just five days before the crucial hearing in spectrum cases on October 20 in the Delhi High Court.

According to sources, the CVC has already taken possession of the incriminating files containing notings by Raja, -ordering allocation of spectrum- on dubious first-come-first-serve basis at throwaway prices to new entrants in telecom sector.

-The CVC has taken note of the manipulation of TRAI’s recommendations by the DoT and also the fact that former Telecom Secretary DS Mathur’s objections were overruled by his successor Behura in allotting telecom licences to real estate companies,- said a Vigilance official.

Behura was handpicked by Raja on January 1, 2008, after Mathur retired. He also worked with Raja during his tenure in the Ministry of Environment and Forests. Within a few days of becoming the Telecom Secretary, Behura issued the controversial order of reversing the cut-off date of spectrum licence application.

October 1, 2007 was first declared as the cut-off date. But in the first week of January 2008, the DoT changed the cut-off date to September 25, 2007.

This decision was quashed by the Delhi High Court in June 2009. The DoT’s application for the stay was not allowed by the court. Behura retired on September 30 this year.

The very next day Raja appointed him as Chairman of Chennai-based C-DoT Alcatel Research Centre.

CVC officials also disclosed that they had also taken possession of notings on files by Raja’s then Private Secretary Chandolia, who is currently rehabilitated as Economic Adviser to the DoT.

Earlier in April, the Central Vigilance Commissioner Pratyush Sinha had come out openly against irregularity in the Telecom Ministry’s spectrum allocation and said he would soon -fix responsibility- for the scam.

Despite Sinha’s indictment, the Prime Minister chose to accommodate Raja in his second tenure by retaining him in the same Ministry.

Within 24 hours of Raja’s second entry in Telecom, Delhi High Court slammed the spectrum allocation and observed that -spectrum was sold like cinema tickets-. (Unqote)

...

In the Notice to the Esteemed Customers of PNB available in the website of the bank, the customers have been cautioned about the upward revision in various service charges w.e.f. 1st October, 2009.

Of late, it is noticed that banks (including PNB) have been revising the service charges at frequent intervals, squeezing the customes as never before....

Varner, As mentioned in my first post, any decision of Govt. of India in regard to the short-listing of candidates should give due consideration to the fact that

(1) Shri RP Singh, an IAS Officer was appointed since Punjab & Sind Bank was weak and needed perk up.

(2) Despite appopintment of IAS Officer and who was at the helm for nearly 4 years, the bank continues to be weak.

(3) Despite buoyant economy and vibrant stock market and IAS Officer at the helm, IPO could not be brought out to cash in the advantages prevalent then.

(4) Since he is an IAS Officer, even after his relinquishing the post of CMD of PSB, he is entitled for salary and perks as an IAS Officer (whereas incase of any banking professional, if he relinquishes the post, he is relieved and is not entitled for pay & allowances till he is appointed in another bank/institution)....

When the Govt. of India is moving towards withdrawing susbidies/concessions/rebates one by one citing need for infra/welfare spending and increasing the burden on common man, I AM SURPRISED by the concession being extended by Rly.Ministry to the SPOUSES of accredited journalists.

The - NEW SYSTEM OF CONCESSION TO ACCREDITED PRESS CORRESPONDENTS - introduced by the Rly.Ministry states that --

The element of concession is:
...........
(d) 50% concession for spouse once in a year.

ONE MAY NOT AGREE FOR CONCESSION TO THE JOURNALISTS AT ALL ( that is to say, it is for their employer to bear the same i.e. the newspapers etc.). BUT, EXTENDING CONCESSION TO SPOUSES OF JOURNALISTS is NOT AT ALL warranted AND SHEER THROWING OF PUBLIC MONEY TO PLACATE THE JOURNALISTS.
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