Money & Banking
Jaitley concerned over functioning of state-run banks: AIBEA

CH Venkatachalam said Jaitley expressed his concerns when a union delegation met him in New Delhi on Wednesday

 

Expressing concern over the functioning of public sector banks and appointments to top posts in such banks, union Finance Minister Arun Jaitley has said the government was making efforts to streamline the system.
 
In a statement issued here on Thursday, All India Bank Employees' Association (AIBEA) general secretary C.H. Venkatachalam said Jaitley expressed his concerns when a union delegation met him in New Delhi on Wednesday.
 
Jaitley also spoke about the need to consolidate banks to protect the weak government banks, said Venkatachalam.
 
According to an AIBEA statement, the union members drew Jaitley's attention to the problems faced by the employees in associate banks of State Bank of India (SBI).
 
"We also conveyed our views about the need to delink associate banks from the SBI," the AIBEA leader said.
 
The five associate banks are State Bank of Mysore, State Bank of Patiala, State Bank of Hyderabad, State Bank of Travancore and State Bank of Bikaner and Jaipur.
 
The AIBEA submitted a memorandum to Jaitley on the issue.
 
On the issue of privatisation of IDBI Bank, the delegation told Jaitley that the main reason for the bank's problems was its huge bad loans.
 
The union urged Jaitley for a thorough probe in the matter and fixing of accountability.
 
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.
 

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Condition of injured crew member stable, says Jet Airways
The airline disclosed details about Chaphekar's health after the media reports claimed that she has been placed in a medically induced coma
 
The condition of Jet Airways' crew member who was injured in Brussels terror attacks is stable, the airline said on Friday.
 
"We have spoken to Dr. Steven at the hospital where the crew member, Nidhi Chaphekar, is under treatment. The doctor has confirmed that she is in a stable condition and not in coma," the airline said in a statement.
 
"She is resting and under sedation for her comfort," the statement said.
 
The airline disclosed details about Chaphekar's health after the media reports claimed that she has been placed in a medically induced coma.
 
Chaphekar, a mother of two from Mumbai, was among two crew members of the airline who were injured in Tuesday's bomb blasts that rocked Brussels' Zaventem airport and left more than 30 people killed.
 
A photograph showing the 40-year-old flight crew member of Jet Airways sitting dazed and bloodied, with her bright yellow uniform ripped, went viral soon after the airport blasts and become an iconic image of the attacks. 
 
Chaphekar's husband, who flew from Mumbai to Paris and travelled by road to Brussels, is at the hospital with her. 
 
Meanwhile, Jet Airways flew out the passengers who were stranded in Brussels after the attacks. Some passengers returned to Delhi early Friday, while others left for Newark from Amsterdam.
 
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.

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Communicable diseases rise 32 percent in 5 years, spending up 7 percent
There has been a steady increase in the incidence of communicable diseases over the last five years, except malaria which declined 14 percent, which can be attributed to a special focus on awareness and detection
 
Spending on programmes to control India’s three main communicable diseases — malaria, tuberculosis and leprosy — increased seven percent over five years while cases reported, taken together, increased 32 percent, according to an IndiaSpend analysis of government data.
 
There has been a steady increase in the incidence of communicable diseases over the last five years, except malaria which declined 14 percent, which can be attributed to a special focus on awareness and detection.
 
We found a correlation between cases reported and budgets over five years. As funding rose, cases declined.
 
The central government finances three disease-control programmes: National Vector-Borne Disease Control Programme (NVBDCP); Revised National Tuberculosis Control Programme (RNTCP); and National Leprosy Eradication Programme (NLEP).
 
The programmes are funded under the National Health Mission, which also includes programmes for child - and maternal - health, health infrastructure, prevention, early detection, diagnosis and treatment.
 
There was a 12 percent increase in the National Health Mission budget, from Rs.17,188 crore to Rs.19,307 crore between 2012 and 2016, according to an Accountability Initiative report in February 2016.
 
In dollar terms, the allocation declined from $3.2 billion to $2.9 billion. There has been an increase in the exchange rate from Rs.51 per dollar in 2011-12 to Rs.65 per dollar in 2016-17. The value of Indian money to the dollar has depreciated over the last five years.
 
Communicable disease profile in India
 
The allocated funding has been increasing for the three main programmes, as we said, and is up 7.2 percent over five years, from Rs.924 crore in 2011-12 to Rs.991.5 crore in 2015-16.
 
The National Vector-Borne Disease Control Programme covers malaria, dengue, chikunguniya and Japanese encephalitis, and also works for the elimination of kala-azar and lymphatic filariasis. The allocation to the programme has seen a three percent decline, from Rs.482 crore in 2011-12 to Rs.463 crore in 2015-16.
 
While malaria cases declined 14 percent, dengue cases increased more than four times and chikunguniya and Japanese encephalitis rose 33 percent, according to a reply in the Lok Sabha.
 
The tuberculosis-control budget rose 23 percent between 2011 and 2016, while cases reported almost doubled over the same period.
 
While there was a 16 percent decline in funding for the leprosy eradication programme, there was a 36 percent increase in leprosy cases nationwide.
 
There are also a host of other reasons, including dearth of awareness and access to medicine and treatment, which may have contributed to the rise of communicable diseases.
 
Over the last five years, funds released from the centre to the states under the three main programmes has been declining - from Rs.947 crore in 2011-12 to Rs.395 crore in 2015-16.
 
In the years 2011-12 and 2014-15, more funds were released than were allocated for the programmes.
 
In 2012-13, states received only half the funds budgeted for vector-borne diseases and leprosy.
 
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.

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