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Tracked by: 9 Boarders
rvsrvsk, What I understand is that at the time of implementation of pension scheme 10 years back, in the MOU signed beween the Unions and the Managements/IBA, provision for updation of pension was there. However, the Officers` Associations/Worken Unions thought that with the said updation of pension, the increase in wages for serving officers/workmen will be reduced at the time of Wage Settlements and hence, in connivance with the IBA/Managements of banks, the updation provision in pension scheme originally envisaged was dropped. NOW, the very same Officers` Associations/Workmen Unions WHICH ARE continued to be MANNED IN IMPORTANT POSITIONS BY THE SAME LEADERS WHO HAVE SINCE RETIRED AND WHO GOT ENROLLED THEMSELVES IN PENSION SCHEME THROUGH BACKDOOR, are craving for updation in pension! ...
In reply to:
SC Judgement in Civil Appeal No.1942 of 2009
Posted by :
rvsrvsk
The case has been fixed for the 16 instant,as IBA has failed to reply .IBA has been seeking adjournemts in the past-as they find themselves cornered now.AS THOU .SHALL SOW THOU SHALL REAP is an old adage. Mr. M.C.SINGLA and others had made PNB AND IBA as respondents in the updation of pension in the writ petition filed by them in the PUNJAB AND HARYANA HIGH COURT.PNB has filed their reply earlier .HAD a chat with Mr. singla on this score. 
Tracked by: 0 Boarder
The economic backwardness of Bihar remains an enigma. Historians recall the great heights of culture, development and the territorial sweep of the erstwhile Maurya and Gupta period, who ruled from Patliputra, the present day capital of Bihar. Those engaged in the reconstruction of Nalanda University recognise the intellectual and educational pre-eminence of that University located in this State from the 3rd century to the 12th century AD.
Lately, however, many have described Bihar as quicksand which draws you in with inevitability. Bihar suggests awkward complexities which have no easy answer. It is true that Bihar remains a land of riches inhabited mostly by poor people. Biharis may be rich but Bihar is poor. Biharis, who migrate out of the city, excel in the profession they persue. But, back home it makes no dent on the backwardness of the State. The large Gangetic plain with its fertile soil, abundant water resources available from a multitude of rivers that flow through the region and the potential of the hardworking people of the state are of no avail.
Soon after Independence, during the 1950s, the administration of Bihar was assessed as one of the best in the country by Paul Appleby. But owing to its prolonged poor governance and stratified social order, the State, now, has come to be referred as the ‘prosperous poor’. For last few decades, the State was mentioned in two topics of discussion - politics and poverty. Not, the ‘poverty of politics’, rather the politics with poverty. In recent years, subjects relating to the development challenges of Bihar had been acrimoniously debated. Bihar was increasingly considered a ‘Basket Case’, with no prospect of a better future. Recently, there have been concerted efforts to improve the overall climate of development in the State. This has aroused a sense of optimism and ushered a glimmer of hope among Biharis.
Moreover, it is imperative to understand why things have come to such an impasse in Bihar? History can gives us some pointers. Several interrelated issues -- poor agricultural growth, deindustrialization during the colonial period, high population growth and migration – have lead to its long-term decline. These were coupled by poor governance, neglect by the Central Government, unreliable infrastructure, low energy availability and poor agricultural yields over a long period. The result: it has crippled the State, its economy, its society and human development.
Trends in GDP Growth
The table below shows the pattern of Bihar and India’s long-term growth. There are two distinct growth periods for India and Bihar
- Phase I from 1950 to 1980
- Phase II from 1980 to 2005
For India, Phase I is characterised by slow growth in both absolute and per capita terms when compared with growth in Phase II. India grew at an average pace of only 3.6 percent per annum in absolute terms and 1.2 percent in per capita terms in Phase I. However, growth accelerated to 6.0 percent in absolute terms and 4.0 percent in per capita terms in Phase II.
In case of Bihar, the State grew at an average of around 3 per cent in Phase I, but economic growth worsened in Phase II vis-à-vis the national average. Within these two broad phases there are some interesting variations. A look at the table below would indicate how the trend in Bihar has been since the 1950s in comparison to the national average.
...
Tracked by: 0 Boarder
In Bipartite settlement During 2005 it was agreed between the unions and IBA that for pension purposes peoples retiring between 01.04.98 to 30.04.05 will be paid revised pension but no arrears of pension or difference in commuted value of pension payable to the retirees of this period.
While it is observed that Chapter VI - of the Central Civil Service Commutation Rules 1981 read as under: Rele 6.12
"When Pension is revised upward retrospectively, payment of commuted value of the quantum of increase in pension may be authorised without further application from the pensioner"
Now how the IBA or the Psu Banks and Unions can change the rules for pensioners in their wage settlement.
The Correction in the definition of pay done in the settlement is the rectification of the mistake commited in the earlier settlement for which pensioners are no more responsible.
Hence it is imperative on the Banks to pay difference in revised amount of commuted pension without awaiting any application from the retired pensioners.
...
Tracked by: 0 Boarder
Had to wait for 2 weeks to get back my level to short.
Opened back all my SHORTs at 4880, last time i covred at this level and today opened them all.
Booked gains on all calls between 4800-4900, left the 5000 calls as they were bought at 17-18.
All the best
Patience...
...
In reply to:
BUY NIFTY 3565
Posted by :
patience
Shorts of 4650 was raised up to 4740, thanks to Mike for his charts as it helped me to cover at 4960 and re initiate back at 5040.
Covered all shorts today at 4880 with a notional loss of 140 points.
What a Journey...500 points notional loss reduced to 140 points
Wrong trade - First one in 2009 and hopefully the last one.
All the best
Patience...
Tracked by: 0 Boarder
Europe Finance Chiefs Commit to Curb Budget Deficits
European Union finance ministers committed to start reining in budget deficits by 2011 at the latest even as they said economic stimulus remains necessary to nurture the recovery from the deepest slump in six decades.
European governments have put forward billions of euros in measures aimed at reviving growth and saving jobs. The average budget shortfall in the euro region will balloon to a record 6.9 percent of gross domestic product next year with all 16 euro nations breaching the EU limit of 3 percent of GDP, the European Commission forecasts. The jobless rate is projected to reach 10.9 percent in 2011, the most since at least 1995.
The commission, the Brussels-based EU executive, tomorrow will issue reports assessing efforts by France, Spain, Ireland, Greece and the U.K., which isn’t in the euro area, to start to bring their deficits back into line with EU rules. Germany, Europe’s largest economy, and eight other countries will be given deadlines to correct their deficit overruns.
“We need to establish the adequate deadlines and paths for the correction of these excessive deficits,” EU Economic and Monetary Affairs Commissioner said. “It is an important issue that we have to combine with short-term fiscal stimulus that is still needed.”
Overall government debt for the 27 nations in the EU will reach 79 percent of GDP in 2010 and more than 83 percent the following year, the commission forecast last month. Without budget-cutting efforts, the debt-to-GDP ratio “could reach 100 percent as early as 2014 and keep on increasing,” according to a commission document discussed at yesterday’s meeting.
The finance ministers last month agreed to wait until 2011 before cutting deficits to allow government spending to boost growth while the region recovers from the recession.
The G-20 Countries, on Nov. 7 pledged to keep interest rates low and maintain record budget deficits until recoveries take hold. Global stocks rallied yesterday and the dollar slid after the G-20 commitment to maintain stimulus efforts.
Regards
Swastika PMS...
Tracked by: 0 Boarder
Dear mep1,
You are talking about the status of indian muslims. Who is resposible for that? It is directly the exponential growth of your population. Though it is the true fact you people intentionally want to ignore . I don`t know why? In India we have all religious people. except muslims all started producing 1 or 2. They can give good life to their children , good education and ultimately good job/ bussiness. Today standard of living of all people after 1990 increased continuously except muslims. even you people failed to get govt. jobs due to lack of education.I have seen those who even earn 50 Rs. per day are producing 8-10 hildren in muslim. How can that person give good life to those children. These children start doing work at the age of 8-10 for earning. They loose their childhood life and develop hatred with others. crime also grows..so don`t blame Indian Govt. When othr relifgion people are living in harmony with majority why you people hell bend to produce more.
Silence itself shows that they have some sympathy for terrorist. When if something happens any where in world to muslims these maulas start crying like anything. even for small issue they release fatwa. Then why not for terrorism. Even muslims are victims of terrorism .
I have many friends of all religion . but never seen discussing about religion like muslim friends. They speak about religion from morning to evening. Today we are in the world of competition. We should follow human welfare law which is need of the hour.
Can you show me a single country ruled by muslim is in peaceful condition. They have fight with there own people. ex. Pakistan. After division many muslims left india to pakistan and many hindus left for India,. Just compare their condition. Till today in Pakistan these muslims are lving in the name of Muhajirs. ie, second citizens.
Dear friend Don`t say I am diverting the issue.Becoming too much conservative will increase the problem.For past 15 years you people are moving away from main stream. Don`t consider I am blaming you people.It is the high time for educated class in islam to work for the uplift of your own society.
with warm regards
Tushar
...
In reply to:
IS INDIA A SECULAR COUNTRY ??? LETS INTROSPECTS !!!
Posted by : mep1
Dear tuspra,
i am not ready to answer about mulism population in india because we talking about the basic things but u r dividing to population???? no use to reply of the same, already u aware of the fact about the status india muslims but u r trying to ridicule.
Quote:
Never seen any maula releasing fatwa against terrorism, why?
Unquote:
Shall any mullah encouraging terrorism???? tell me…..
On that account: We ordained for the Children of Israel that if any one slew a person - unless it be for murder or for spreading mischief in the land - it would be as if he slew the whole people: and if any one saved a life, it would be as if he saved the life of the whole people. Then although there came to them Our apostles with clear signs, yet, even after that, many of them continued to commit excesses in the land. (The Quran: 5:32)
Tracked by: 0 Boarder
Fitch Says U.K. Rating Most at Risk Among Top-Rated Nations
The U.K.’s sovereign credit rating is most at risk among top-rated nations, Fitch Ratings said, citing concern over the country’s budget deficit.
The rating faces risks because the U.K. needs “the largest budget adjustment,”. “Our stable rating outlook reflected our expectation that the U.K. government will articulate a stronger fiscal consolidation program next year.", Fitch said.
Britain last month reported the biggest budget deficit for any September since records began in 1993 as the recession ravaged tax revenue and drove up welfare costs. The 14.8 billion-pound ($24.7 billion) shortfall compared with a deficit of 8.7 billion pounds a year earlier.
The U.S.’s rating also might be at risk of a review if its fiscal position does not stabilize in the next couple of years.
Standard & Poor’s lowered the outlook on the U.K.’s AAA rating to “negative” from “stable” on May 21, citing the country’s rising debt burden.
Greece’s credit rating was cut one step to A- by Fitch Ratings on Oct. 22 after the country increased estimates for its budget deficit. The outlook is “negative,” meaning the next move is more likely to be lower.
Regards
Swastika PMS...
Tracked by: 0 Boarder
Only Only Latha can tackle someone like EVEREST KANTO`s Khurana without LOL.. if Mitali had ever got to tackle him she would have burst out laughing....
every word is ended with an A
WE A
DONT A KNOW A
WE A CANNOT A TELL A
:)...
In reply to:
Babita, Randhi an dthe 1970 Swings
Posted by : micky59
it is there on the net...The belligerent Shankar Sharma..
Just an excerpt here...
5. Next look at the taxes paid by Shankar Sharma and Devina Mehra. The duo headed a clutch of 11 companies, which cornered a substantial chunk of trading on India’s top bourses. They were also on the verge of going global by acquiring trading memberships in the UK and USA. Crores of rupees were spent on these investments, including Tehelka. Yet documents show that from 1996-97 to 1999-2000, Sharma and Mehra were making paltry tax payments. In fact they paid only Rs 62,172 and Rs 46,000 respectively in the last mentioned year. But 2000-2001 was obviously a super successful year for First Global’s owners. All of a sudden Sharma’s tax payment soared to Rs 3,18,06,308 while Mehra’s to Rs 3,11,62,500. Should nobody ask how?
Tracked by: 0 Boarder
yes u r right, gender discrimination is also there.....
In reply to:
India holding worst position in man-woman equality
Posted by :
sonia001
WHERE`S THE RIGHT TO EQUALITY
may be the world`s second fastest growing economy, but it figures among the worst when it comes to man-woman equality - at 114th among 134 countries, on the World Economic Forum (WEF) rankings.
Worse, sharing Nobel laureate Amartya Sen`s concern over female foeticide and 25 million `missing women` in India, the WEF has placed the country at the bottom of the table on health and survival issues, reflecting the huge gender gap.
Tracked by: 0 Boarder
it is there on the net...The belligerent Shankar Sharma..
Just an excerpt here...
5. Next look at the taxes paid by Shankar Sharma and Devina Mehra. The duo headed a clutch of 11 companies, which cornered a substantial chunk of trading on India’s top bourses. They were also on the verge of going global by acquiring trading memberships in the UK and USA. Crores of rupees were spent on these investments, including Tehelka. Yet documents show that from 1996-97 to 1999-2000, Sharma and Mehra were making paltry tax payments. In fact they paid only Rs 62,172 and Rs 46,000 respectively in the last mentioned year. But 2000-2001 was obviously a super successful year for First Global’s owners. All of a sudden Sharma’s tax payment soared to Rs 3,18,06,308 while Mehra’s to Rs 3,11,62,500. Should nobody ask how?
...
In reply to:
Babita, Randhi an dthe 1970 Swings
Posted by : micky59
Wish i could laugh like that Haaaaaaaaaaaaaa. I mean its not the way you laugh but the time that you laugh, at....the timing has to be perfect....
And too hell with SS. He will get get what he deserves. Everyone does. Read an article on him written by Sacheta dalal...dont remember the details now.....
Tracked by: 0 Boarder
Wish i could laugh like that Haaaaaaaaaaaaaa. I mean its not the way you laugh but the time that you laugh, at....the timing has to be perfect....
And too hell with SS. He will get get what he deserves. Everyone does. Read an article on him written by Sacheta dalal...dont remember the details now........
In reply to:
Babita, Randhi an dthe 1970 Swings
Posted by : radhika_nandlal
udayan loves his shakespeare?????? haaaaaaaaaaaaaaaa.. HELP!! Micks i cannto stop laughing... lol
ya he does like his shakespeare, and i like him when he does
And as for SS, SEBI and our CBI make everyone look red these days so if i were shankar i would wear a mask and tell the CNBC audience I DONT KNOW IF I SHOULD LOOK GUILTY, POKERFACED, HELPLESS OR EXASPERATED... i will change my mask every minute for each of these emotions.
lol
Tracked by: 0 Boarder
udayan loves his shakespeare?????? haaaaaaaaaaaaaaaa.. HELP!! Micks i cannto stop laughing... lol
ya he does like his shakespeare, and i like him when he does
And as for SS, SEBI and our CBI make everyone look red these days so if i were shankar i would wear a mask and tell the CNBC audience I DONT KNOW IF I SHOULD LOOK GUILTY, POKERFACED, HELPLESS OR EXASPERATED... i will change my mask every minute for each of these emotions.
lol...
In reply to:
Babita, Randhi an dthe 1970 Swings
Posted by : micky59
Who the hell is talking balance sheets ,sebi etc...I am talking of your own conscience....and its written all over his face ....
And Udayan loves his Shakespeare doesnt he. He loves playing Caesar. And wasnt Raju enough of a Brutas??
Tracked by: 0 Boarder
Bulk Deals Snapshot - 09 November 2009, Monday
IN BOTH BSE & NSE:-
Net Buying of 50538 shares of Thinksoft Global
Regards
Swastika PMS...
Who the hell is talking balance sheets ,sebi etc...I am talking of your own conscience....and its written all over his face ....
And Udayan loves his Shakespeare doesnt he. He loves playing Caesar. And wasnt Raju enough of a Brutas??...
In reply to:
Babita, Randhi an dthe 1970 Swings
Posted by : radhika_nandlal
yes SS is back on CNBC TV18..... I dont think insider trading is such a crime... coz if market pricing has to be efficient these games have to be played... In a few years they will say SO LONG AS YOU ALL SUBMIT YOUR BALANCE SHEETS FOR SCRUTINY EVERY 6 MONTHS YOU MAY DO ANYTHING BEHIND YOUR TERMINALS.
Tracked by: 0 Boarder
Bulk Deals Snapshot - 09 November 2009, Monday
IN NSE:-
Selling of 749000 shares of Bank of Rajasthan
Selling of 130000 shares of XL Telecom by Morgan Stanley Mauritius Company
Regards
Swastika PMS...
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