RBI issues direction on implementation of Gold Monetisation Scheme (GMS), 2015

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Date : Oct 22, 2015

RBI issues direction on implementation of Gold Monetisation Scheme (GMS), 2015

The Reserve Bank of India today issued a Direction to all Scheduled Commercial Banks (excluding Regional Rural Banks) on implementation of the Gold Monetisation Scheme, 2015 notified by the Central Government. The Scheme The GMS will replace the existing Gold Deposit Scheme, 1999. However, the deposits outstanding under the Gold Deposit Scheme will be allowed to run till maturity unless the depositors prematurely withdraw them. Resident Indians (Individuals, HUF, Trusts including Mutual Funds/Exchange Traded Funds registered under SEBI (Mutual Fund) Regulations and Companies) can make deposits under the scheme.

RESULT:Civil Services (Preliminary) Exmination, 2015

Press Information Bureau
Government of India
Ministry of Personnel, Public Grievances & Pensions
12-October-2015 21:01 IST

                           Civil Services (Preliminary) Exmination, 2015

            On the basis of the result of the Civil Services (Preliminary) Examination, 2015 held on 23.08.2015, the candidates with the following Roll Numbers have qualified for admission to the Civil Services (Main) Examination, 2015.

Re: RBREA MONTHLY HITGUJ 15 SEPTEMBER, 2015

FROM  SHRI R B KISHORE     SELECT EXCERPTS FROM MONTHLY HITGUJ, RBREA,MUMBAI HM 15 SEPTEMBER 2015 1) (Reproduced below is the text of a letter dated 8th September 2015 addressed to Hon'ble Finance Minister Shri Arun Jaitely by Shri L R Parab, Gen. Secretary, RBREA, Mumbai)    "Kindly refer to our detailed letter dated 1st January 2015 and also first reminder dated 31st March 2015, on the captioned subject, sent to you by speed post on your office and residential addresses. Although the period of more than eight months has elapsed, since our first letter, we have unfortunately not heard anything from you in the matter. We, therefore, express our anxiety and send this second reminder, especially after your decision in OROP matter on 5th September 2015. Sir, we bring to your kind notice that thousands of pensioners of RBI have read our above communications to you and are looking forward for your good gesture to them in the matter of updation of pension.

EASTERN NEWS SEPTEMBER, 2015

We have the pleasure to send the September'15 issue of EASTERN NEWS in attachment. Kindly, download and enjoy reading. We wish our readers best on the occasion of LIC's entry in to sixtieth year after glorious 59 years.

Subir Kumar Mazumder

GENERAL SECRETARY

LIC RETIRED CLASS-I OFFICERS' ASSOCIATION,

KOLKATA 

EASTERN NEWS SEPTEMBER,2015:CLICK HERE

CPI JULY, 2015

WORLD POPULATION DAY 11 JULY, 2015

Related Organisation/Agency:  United Nations Population Fund (UNFPA) The tremendous interest generated by the Day of 5 Billion on 11 July 1987 led to the establishment of World Population Day as an annual event. For more than 20 years, 11 July has been an occasion to mark the significance of population trends and related issues. The theme for 2014 was Young People Today's 1.8 billion young people are shaping social and economic realities, challenging norms and values, and building the foundation of the world's future. Yet too many young people continue to grapple with poverty, inequality and human rights violations that prevent them from reaching their personal and collective potential. Safeguarding the rights of adolescents and youth and investing in their future is essential to their development and that of their families, communities and countries. Providing quality education, decent employment, effective livelihood skills and access to sexual and reproductive health, including comprehensive sexuality education, will ensure that every young person's potential is developed.  World Population Day Themes     The theme of 2015 is "Vulnerable Populations in Emergencies".     The theme of 2014 was "A time to reflect on population trends and related issues" and "Investing in Young People".     The theme of 2013 was "Focus is on Adolescent Pregnancy".     The theme of 2012 was "Universal Access to Reproductive Health Services".     The theme of 2011 was "7 Billion Actions".     The theme of 2010 was "Be Counted: Say What You Need".     The theme of 2009 was "Fight Poverty: Educate Girls".     The theme of 2008 was "Plan Your Family, Plan Your Future".     The theme of 2007 was "Men at Work".     The theme of 2006 was "Being Young is Tough".     The theme of 2005 was "Equality Empowers".     The theme of 2004 was "ICPD at 10".     The theme of 2003 was "1,000,000,000 adolescents".     The theme of 2002 was "Poverty, Population and Development".     The theme of 2001 was "Population, Environment and Development".     The theme of 2000 was "Saving Women's Lives".     The theme of 1999 was "Start the Count-up to the Day of Six Billion".     The theme of 1998 was "Approaching the Six Billion".     The theme of 1997 was "Adolescent Reproductive Health Care".     The theme of 1996 was "Reproductive Health and AIDS". Web link:  World Population Day

EASTERN NEWS JULY, 2015

DEAR ALL,

EASTERN NEWS-JULY'15 issue is sent in attachment.
We, sincerely, desire your comments for improvement in our subsequent issues.

Subir Kumar Mazumder

GENERAL SECRETARY

LIC RETIRED CLASS-I OFFICERS' ASSOCIATION,

KOLKATA 

CLICK HERE

CPI APRIL,2015

Bulletin - 'HITGUJ" published by Reserve Bank Retirees' Organization​ for May,'15

"HITGUJ"MAY,2015

EASTERN NEWS MAY, 2015

LIC PENSIONERS ORGANISATION -EASTERN NEWS MAGAZINE MAY,2015

UNION SANDESH APRIL,2015

UNION BANK RETIRED EMPLOYEES' ASSOCIATION

​All the regular recipients of our Association's e-mails,​

'Union Sandesh' journal published ​by 

Union Bank Officers' Association (Gujarat)

​for April,'15​

                     ​ATTACHED [CLICK BELOW]                         ​

Yours sincerely,

B.G.Raithatha,

General Secretary

UNION SANDESH APRIL,2015

Attachments area

Preview attachment Union Sandesh_April_15.pdf

THE SEVEN STEPS TO SUCCESS. 7th MAY,2015

17) THE SEVEN STEPS TO SUCCESS.              7^th MAY,2015 

 

With seven days to go for yet another day of hearing, with which we may hope, our ordeal in our legal fight in the S.C might end. Let us hope the seven steps we take will take us to the summit of our success.

 

Step 1:  The present Appeal has no legs to stand, as the LIC has preferred the appeal belatedly and after the dismissal of the SLP.  LIC has no cause of action and the proceedings against the Rajasthan HC decision has come to an end, giving us the right enforce the Judgement. The SC Bench, at the time of dismissing the SLP has not stayed its order while dismissing the SLP and hence the suit reached its finality. The Appeal was admitted without notice to us. There is no grave injustice or loss, the Appellant LIC will suffer or result in the Appellant committing illegality, because on the one hand any action done by virtue of the HC Judgement has the judicial umbrella of protection, as pointed by the DB of the Rajasthan, and on the other such action, they are compelled to take, is also by virtue of the obligation on the Appellants, as a limb of the Govt., to preserve and protect the Constitutional provisions and also because of the mandate to obey such provisions. In fact the Appeal, if accepted, amounts to the approval by the SC of the perpetuation of the discrimination. Therefore, entertaining a hopelessly time barred appeal and that too, after the dismissal of the SLP, will result in double jeopardy of a hopeless appeal against the decree of three different HCs and approving a constitutional impropriety, leading to a bad law of precedence. The Appeal and the new writ petition are clear abuse of the process of law intended delay deliverance of justice.

 

Step 2: The Government is not in the picture now to appeal, because they have not preferred to put in their appearance before the DB of the Rajasthan HC, in spite of specific notice to them and sufficient time given by adjournments, to hear the Govt. side of its views on the claims before the Bench. So much so, the DB has clearly mentioned, in its judgement that the LIC has no locus- standi to file the appeal and the Government not responded to its notice. From where do they get the right of appeal now.

 

Step 3: Neither the LIC nor the Govt. has cause to argue that the Nakaras case is not applicable to our case. That case has only established one principle viz. the pensioners cannot be classified into groups, according to their date of retirements, to be treated for benefits they are eligible. Other courts have been following this well established principle of a Bench consisting of 5 Judges, which amounts to an interpretation on the principles of non discrimination under the Constitution of India. The only remedy for the Govt. is to get that reversed, which the present bench cannot do.

 

Step 4: The bogey of no notification under section 48 of the LIC Act is a mirage seen by the LIC/GOI only, not the judicial eye. Accepting for arguments sake the need for a notification, a notification by virtue of which DR rate etc. was released to those retired after 1-8-97 is in fact there and existing and this notification is the one that gave us cause of action to sue the LIC. That notification is not withdrawn or struck down by any H.C. The SB of the Rajasthan High Court has held that in view of the finding of the SC in Nakaras case, the retirees earlier to 1-8-97 are also eligible for the benefits conferred under the notification. In view of the Constitutional shield of protection, even a fresh specific negative notification, nay, even a new legislation cannot wash the dirt of discrimination and such act may turn out to be an executive/legislative vice, inviting judicial contempt.

 

Step 5: The plea of notification raised in the SLP, Appeal and the new writ petitions filed, couched as they are in flowery language (like which the students of English literature might have read in the speech of Sir Edmond Burke on impeachment of Warren Hasting), is against the established principles of law which says that what is unlawful and therefore unenforceable, is not allowed to enter the precincts of the temple of justice through the back door. Discrimination which is held unconstitutional and hence illegal cannot be allowed on the plea executive action/inaction, executive privilege, ripple effect etc.. Perhaps the learned SB Judge has taken a leaf from Shakespeares drama, The Merchant of Venice and allowed the Sec.48 notification without striking it down, but said it shall apply to all, like Portia's argument that the pound of flesh may be taken without shedding a drop blood !.  Even the writ petitions filed are typical examples of Governmental inertia and afterthought, because from the date of the draft of the writ it is seen as drafted one year earlier and filed after one year only, perhaps with the sole intention to cause delay and to subvert the delivery of justice. The LIC's/Govt, pleas are against the dictum ' law and justice shall meet eye to eye and law delayed is law denied.

 

Step 6: The plea of "ripple effect" is an indirect admission of our claim, which the Govt. is pleading as an excuse to deny us what really belongs to us. LIC, in its Board Meetings, admits that the cost can be easily met as determined by it Actuarial calculations. The Pension Scheme was introduced, for the first time, in June 1995 and the revision in the rate of DR was made effective 1-8-97 along with revision of pay scales of serving employees. Therefore the total number of retirees within this period is quite small and they are now in their 70s & 80s and a fast diminishing number. The so called "ripple effect" in their case will only be in a cup, not perceivable. Will not the V & VI Pay Commission Recommendations of increasing the basic pension by a certain percentage, accepted by the same Govt., not create any such ripple.

 

Step 7: Is it not a disgrace to see a retired Senior Officer getting a pension much lesser than an employee who is way down in rank. It is also a fact that there is an anomalous situation created today of even two employees of the same grade in the same stage who retire on 1-7-97 & 1-8-97 get different pension. There is need for judicial intervention to put an end to this discrimination, as reasoning as to the anomalies mentioned by LIC's own Board in its Resolution, has not stirred the Executive apathy of the Govt.  

 

18)The seven steps to success are fine even though I have some reservations on the points made out by you on the applicability of Sec 48.

But with all the excellent grounds on which our case stands, unless there is an effective case management and convincing arguments before the Supreme Court leading to a favourable verdict for pensioners, all the write-ups generated will only turn out to be good material for  an academic discourse.  The utmost  need now is for concrete  action by way of concerted  strategic moves by  counsels of all the three sets of pensioner groups in carrying the legal  struggle in a unified manner towards a successful conclusion. 

Whether it will happen is a million dollar question.

 

Greetings.--------------------

C H Mahadevan

[Excerpts  from R B Kishore's Mail No.100]

CPI FOR THE MONTH OF MARCH, 2015

FOUR SLABS OF DA FOR  EMPLOYEES WEF 01.05.2015

	CPI
Jan-15	254
Feb-15	253
Mar-15	254
Average	253.6667x4.63x4.93
Converted to base 1960=100	=5790.17
last average	5772
Difference	18.16997
NO. OF da SLABS	4.542492 = 4

    No. of  DA Slabs wef  01.05.2015  for the in-service employees of LIC = 4 [FOUR]

FESTIVE GREETINGS FOR KERALA VISHU, TAMIL NEW YEAR MANMADHA ,BAISHAKI DAY

GREETINGS FOR VISHU MALAYALAM NEW YEAR DAY  & 

 

PUTTHANDU   MANMADHA   TAMIL NEW YEAR DAY

 

GREETINGS FOR A HAPPY, JOYOUS  VISHU,

LILTING,PROSPEROUS GUDIPADWA, &

A  FESTIVE,DELIGHTFUL BHAISAKHI

LET US GREET THE NEW YEAR WITH FAITH & PRAYERS PLENTY FOR A SUCCESSFUL CULMINATION OF OUR COURT CASES ON PENSION ,

FROM DARKNESS TO LIGHT,

FROM POVERTY TO PLENTY,

FROM IGNORANCE TO WISDOM,

FROM QUIETITUDE TO BLISS,

FROM UNCERTAINTY TO CERTAINTY,

FROM VAGUENESS TO PRECISENESS,

FROM STUPOR TO SPLENDOUR

TO LEAD A LIFE WORTHY WITH DIGNITY & FREEDOM FROM WANT,

TO MARCH ON WITH VIBE & VIGOUR,

TO SMILE ,TO LAUGH, TO ENJOY,

TO LIGHTEN BURDEN, TO ENLIGHTEN SOCIETY,

TO ENSURE YOUTH TAKES PRIME POSITIONS,

TO ENLIVEN WOMEN TO LEAD A FULSOME LIFE WITH PRESTIGE,

TO HONOUR PENSIONERS WITH COMPLETE VICTORY IN APEX COURT,

TO DECLARE 2015 AS A YEAR OF CROWNING GLORY TO ELDERS & PENSIONERS

MAY OUR DESIRE COME TRUE,

MAY OUR DREAMS BE FULFILLED

MAY WE ALL ENJOY EVERLASTING HAPPINESS,PEACE,PLENTY & PROSPERITY

R.B.KISHORE

VP, AIRIEF

Vishu (വിശു) is one of the most important South India Festivals celebrated in Kerala and the adjoining areas of Tamil Nadu and Karnataka ( Mangalore/Udupi). It is considered to be the Malyalam new year day as it falls on the first day of the Malayalam month of Medam which coincides with the English months of April-May. This is considered the first day of Zodiac calender when Sun enters into the Mesha Raasi (Aries zodiac sign), which is the first zodiac according to the Indian astrology and represents the vernal equinox. This explains the meaning of the Sanskrit term “Vishu” that stands for “equal”.

Vishu Date

Vishu Date 201- Vish u will be celebrated this year on 14 April 2015

There is a conflict among the dates of Malyalam new year as the first month of Malyalam calender is Chingam which coincides with August or September. Therefore, the Malyalam new year day is the first day of Chingam or the first month of Malyalam calendar. However, the Malyali peopel in the Malabar region consider Vishu as the first day of the astrological new year which is the first day of the Malyalam month Medam.

The logical conclusion that stands is that Vishu does not mark  the beginning of the Solar New Year (when sun crosses the equator and heads northward). The confusion might have arisen due to the fact that in Kerala, Vishu celebrations were initiated about 1,654 years ago. That time, the Solar New Year almost started at the same time as the Zodiac New Year. However, because Zodiac New Year is constant and Solar New Year keeps on changing at the rate of one degree every 74 years, the two new years’ date are now different. The Malyali people, however, observe their customary new year day on the day of Vishu. In fact, many states of India celebrate their new year festival around this time of the year. Some of these include Baisakhi festival of Punjab, Nobo Borsho- the Bengali New Year, Puthandu of Tamil Nadu and Bohag Bihu of Assam.

Vishu Kani Tradition

 

Vishukani Setting- Ritual of Divine Arrangement

Vishukani can be seen as the offering made to the divine and arranged in the puja room in a particular manner with auspicious articles like rice,cloth, golden cucumber, fruits, betel leaves, metal mirror, holy texts, gold, coins and the Vishu flowers (yellow flowers konna -Cassia fistula) in a metal vessel known as uruli made of panchaloham or five metals. The idol of Vishnu is also the main component of Vishukani.

Vishukani (വിശുകനി) is arranged on the previous night of ‘Vishu’ by the mother and the other women of the household. The mother then sleeps in that pooja room and upon rising in the auspicious morning hours (4-6 AM), she sees the ‘Vishukani’ and lights the metal lamp. Then she wakes up all the other members of the house and they all come to the Puja room with their eyes covered with their hands because they must see the auspicious Vishu Kani before seeing anything else.

Gold color and gold both are emphasized while setting Vishu Kani. The Kanikkonna or the Vishu flower (a golden-yellow flower associated with Lord Krishna) is used liberally while arranging the Vishukani in puja room. These flowers only blooms when the sun is situated in its most exalted position. Gold is the symbol of monetary affluence along with cultural and spiritual wealth. The elders give presents, mostly coins and money to the younger members of the family. This is known as Vishukkaineettam. The articles of Vishukanni are later distributed among the poor.

The family memebers also read read verses from Holy books like Bhagwad Geeta and Ramayanam after seeing the “Vishukkani”. This represents seeking of eternal wisdom and spiritual enlightenment along with materialistic prosperity throughout the coming year. Many people visit temples such as Sabarimala Ayyappan Temple, Guruvayur Sree Krishna temple in order to have a “Vishukkani Kazhcha” in the early hours of “Vishu” day.

Vishu Celebrations

Vishu is a great day of joy in Kerala households. All the people there wear new clothes and gifts are exchanged. They wish ‘Happy Vishu’ to all their friends and distant family members through Vishu greeting cards, SMS wishes, and online Vishu scraps. It is a day of grand feasting. All types of food having all tastes – salt, sweet, sour and bitter dishes are prepared.

Some of the traditional Vishu feast items include Veppampoorasam (a bitter preparation made of neem) and Mampazhapachadi (a sour mango soup). Fireworks too are an important part of Vishu celebrations. In the morning and the previous evening, children as well as grown ups enjoy firecrackers.

 

 

Puthandu - Tamil New Year

The Tamils have their own traditions to observe the New Year. The Tamil New Year is celebrated on the first day of the Tamil New Year which falls in the mid April according to the Gregorian calendar. The Tamil New Year is celebrated in Tamilnadu and Puducherry of India, Sri Lanka, Malaysia, Singapore, Reunion Island and Mauritius. The Tamil New Year is celebrated according to the Hindu lunar-solar calendar. 

Tamils have distinct cultures to celebrate their New Year. Puthandu follows the Nirayanam vernal equinox. The first month of the Tamil New Year is called Chitterai. On the day people gather at the temples to offer prayers and oblation to the God. In the temple city of Madurai, pujas are offered at the Meenakshi Temple. A fair cum exhibition is also organized at the temple ground by the name of Chitterai Porutkaatchi. 

The Tamils decorate their houses with kolam on that day and also prepare elaborate meals to welcome the New Year. They celebrate the day with neem leaves and raw mangoes. 

Puthandu is the time for the Tamils of great fun and festivity. A grand car show is organized at Tiruvidaimarudur off Kumbakonam. Fairs are also organized at places like-Tiruchirapalli, Kanchipuram and many other parts of Tamilnadu. 

In some parts of southern Tamilnadu, Puthandu is also known as Vishu. As is the tradition on the day of Puthandu the elders give out money gifts to the unmarried young as a token of good fortune and young seek blessings from their elders. 

Puthandu also describes the beginning of the ploughing session in Tamilnadu and hence, the first tilling of the land is also done of the day in a function called 'arpudu'. 

In Sri Lanka, the Tamils celebrate their New Year with a herbal bath called 'maruthu-neer'. It is expected to bring in good health for people. The traditional game of coconut-war, por-thenkai, is also organized at various places of Sri Lanka.

 

R.B.KISHORE 

Banking News, 7th to 11th APRIL, 2015,

CLICK HERE FOR COMPLETE NEWS

SALIENT EXTRACTS FROM MLY RBREA HITGUJ ,March ,2015

WAGE REVISION IN THE BANKING INDUSTRY   

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The eagerly awaited and much delayed wage revision in the banking industry, due to protracted negotiations, at long last witnessed signing of a Settlement between the IBA andWorkmen and Officers' Associations on 23rd February 2015

The salient features of the Wage Settlement are as under: