Money & Banking
Banking operations nation-wide hit by strike
Banking operations across the country were hit on Friday as around 10 lakh employees of private and nationalised banks struck work for a day to protest against central government's policies for the sector.
 
"The strike has evoked a good response nationwide as around ten lakh have participated in it. Most of the nationalised banks are closed," C.H. Venkatachalam, General Secretary of the All India Bank Employees Association (AIBEA), told IANS in Chennai.
 
Echoing this, K. Phamaraiselvan, General Secretary of Andhra Bank Employees Union (Tamil Nadu unit) said: "The banking operations have been paralysed nationwide."
 
Earlier this month, major bank unions deferred a two-day strike call for July 12 and 13 following a restraint order by the Delhi High Court.
 
The unions in the banking sector had given the strike call protesting against the merger of the five associate banks of the State Bank of India (SBI) with the parent and the privatisation of IDBI Bank.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

10,000 NGO registrations cancelled, foreign aid set to drop
Foreign funding for Indian non-governmental organisations (NGOs) doubled in 2014-15 over the previous year, but with 10,000 NGO registrations cancelled in 2015, foreign contributions are likely to drop, according the latest data on foreign contributions.
 
Delhi, Tamil Nadu, Andhra Pradesh (unified), Karnataka and Kerala together got 65 per cent of foreign aid coming to India, the data, tabled in the Lok Sabha on July 26, 2016, revealed.
 
Of Rs 45,300 crore ($7 billion) in foreign funding to Indian NGOs over four years -- 2011-12 to 2014-15 -- Rs 29,000 crore($ 4.5 billion) was received by organisations in the national capital and these four (five after Telangana) states, an IndiaSpend analysis reveals.
 
Organisations in Delhi received Rs 10,500 crore ($ 1.6 billion), while each of the five states received close to Rs 5,000 crore ($770 million) over the past four years.
 
There are 33,091 NGOs registered to receive foreign funds-under the Foreign Contributions (Regulation) Act (FCRA) -- after the registrations of 10,000 NGOs were cancelled by the Ministry of Home Affairs in 2015.
 
Among the reasons for cancellation: Not filing returns, misutilisation of funds and accepting funds for “prohibited activities”, which include funding legal costs of bail, writ petitions of Indian NGOs and their activists, and undisclosed payment of salaries by foreign NGOs to foreign activists.
 
Foreign funding doubled in 2014-15 to Rs 22,137 crore ($ 3.4 billion) compared to Rs 12,000 crore ($ 1.8 billion) in 2013-14.
 
Foreign funds to Indian NGOs from 165 countries, most for social sector
 
India receives foreign contributions from 165 countries, of roughly 200 countries identified by the World Bank.
 
Health, education and child-welfare together received Rs 4,500 crore ($ 690 million) of the Rs 12,000 crore received in 2011-12, according to our analysis of the 2011-12 annual report of the Foreign Contributions (Regulation) Act, the latest available.
 
While NGOs associated with religious activities collected Rs 870 crore, NGOs with research activities got Rs 539 crore in 2011-12.
 
International NGOs free to fund in India but only to govt
 
As many as 109 international organisations, including various branches of the United Nations, World Bank, World Health Organisation, International Monetary Fund, World Trade Organisation and Asian Development Bank, are not treated as a foreign source while funding projects in India.
 
“The World Bank funding in 2013-14 was $5.2 billion (Rs 33000 crore).This funding goes to the government and not to any NGO,”, wrote Prof. Trilochan Sastry of Association for Democratic Reforms (ADR), an advocacy, in a blog post.
 
A writ petition has been filed in the Delhi High Court by ADR to constitute an independent body to administer enforcement of Foreign Contribution (Regulation) Act, 2010. The case is currently being heard.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

COMMENTS

anil r vanjari

4 months ago


I think this was the easiest action taken by the government against the unwanted NGOs.

By cancelling their registration, the central government has put a tag of dishonesty to these NGOs, many of whom may be working for the betterment of underprivileged and people living in remote areas.

Even if any among them had not completed statutory obligations, the government could have given them sufficient time for the same.

It will be interesting to find out thru a PIL, as to how many NGOs among the cancelled ones, were founded by religious minorities and working with ideologies other than those of RSS/BJP/VHP etc.

As a conclusion, I feel such action from the Central government shall only add fuel to the fire set by certain elements against the minorities and make them feel more and more insecure. This may prove to be counter-productive too.

God save the religious harmony in this country. Hey Ram !!!



INKredible: Write Clean, Crispy Notes on Your Phone
With all the advancements in keyboards, writing has not yet gone out of fashion. And if you have to draw figures to prove a point, you don’t have much of a choice. INKredible is an app which helps you do just that—write on your smartphone / tablet with a stylus.
 
When you write on your smartphone with a stylus, you observe that it can get incredibly irritating because your palm and wrist keep making marks on the screen. INKredible is a tool which helps you avoid that. So you get clean and crispy notes and diagrams without the hassles of smudges.
 
It helps you write on phones and tablets distraction-free. Most of the time, you will just see a blank sheet to write on, with the user interface cleverly hidden. It is free and worth a try for those who avoid using the stylus just because they get irritated using it! For more options, there are in-app purchase facilities available.
 

User

COMMENTS

Dr P M Deshpande

4 months ago

Google Handwriting is far superior. You write with your finger and it immediaely tranforms it into typewritten matter. In local languages too.

REPLY

Devang Vyas

In Reply to Dr P M Deshpande 4 months ago

This app is very different then Google Handwriting. INKredible is an note taking app with amazing writing reproduction and Google Handwriting is for text input only.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)