Beyond Money
Protecting your parisar

Traffic woes are a constant source of discussion and debate. Sujit Patwardhan, founder and trustee of Parisar, tells us how and why urban transport is their focus

 
Congestion, pollution and accidents are daily travails of the urban population. Huge budgets are being allocated for various transport projects. Yet, cities are reeling from the impact of sharp rise in the number of automobiles and two-wheelers and the lack of planning, infrastructure and urban transport. Isn’t it strange then, that only a few NGOs focus on problems of urban transport?
 
Parisar, is one such organisation, founded in 1981, in Pune, by a handful of individuals, sharing a growing concern about the deteriorating urban eco-system and livability of the city, constantly under the onslaught of skewed development priorities. 
 
Parisar opposed cutting of old banyan trees for widening of the iconic Ganeshkhind Road and, as usual, was accused of ‘stopping development’. It is then, that the activists realised a deep flaw in the way they were trying to solve this problem. We understood that wrong and outdated policies were the biggest threat to urban environment. This led Parisar’s to focus on issues of urban transport and advocate sustainable transport policies. 
 
In 2004, Parisar, along with other NGOs, organised a seminar called “One Right Turn” which, explored the ideas of sustainable transport, challenged the idea of ‘building your way out of congestion’ and proposed public transport, walking and cycling as solutions. These thoughts were vindicated by the National Urban Transport Policy (2006), which espouses nearly similar principles. The seminar changed the way the city thought about transport and led Pune to submit proposals to build a network of over 100km of Bus Rapid Transport (BRT) under the Central government-funded Jawaharlal Nehru National Urban Renewal Mission. Parisar’s challenge today is to ensure proper implementation of this project.
 
Parisar publishes reports on its work regularly. One such report is the ‘Report card on the Quality of the City Bus Service’, an assessment of the cycle tracks and analysis of the city’s annual budget. Parisar also contributes in preparing various reports like the Environment Status Report a detailed plan for Public Bicycle scheme. 
 
Parisar has successfully pushed for adoption of a ‘Street Design Manual’, which will help in improving environment in the city so as to adopt walking as a major mode of transport. Parisar also helps creating a network of similar NGOs in various cities, with the idea of sharing experiences and aggregating forces for advocacy at the national level.
 
“Explaining what Parisar does is sometimes difficult”, according to Ashok Sreenivas, an IITian who splits his time between Parisar and Prayas, another NGO. “People usually connect more easily with NGOs that help the poor or the needy and where the beneficiary is someone you can visualise,” he adds. That may be one of the reasons why there are only a few NGOs that work in the area of urban transport, where it is more about getting the government to do the right thing than the citizens doing it . Those who work at Parisar come from diverse backgrounds and learn about urban transport on the job.
 
Gathering greater public support for improving public transport, creating cycling facilities and a better environment to adopt walking while moving away from automobile-centric planning are the ultimate goals of Parisar. These goals, once considered radical, have now, become mainstream. 
 
As an organisation, Parisar understands that it still has a long way to go. But that does not deter its belief that despite increasing number of vehicles, it can be easier to travel in days to come.
 
For contributing to its efforts, Parisar welcomes volunteers and offers student internships. Donations are exempt under Section 80(G) of the Income Tax Act.
 

Parisar

 

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BSE seeks extra caution by brokers to avoid flash crash

Asking its member brokers to ensure that each order is placed within the prescribed limits, BSE has also reinforced the need for trading members to submit their compliance reports to the exchange on a quarterly basis

 
Mumbai: In the wake of an erroneous order that caused flash crash of NSE (National Stock Exchange) index Nifty last month, leading bourse BSE has asked brokers to strictly adhere to its due- diligence norms and be extra careful in placing orders, reports PTI.
 
Asking its member brokers to ensure that each order is placed within the prescribed limits, BSE has also reinforced the need for trading members to submit their compliance reports to the exchange on a quarterly basis.
 
The directions have been issued by BSE in a circular to its member brokers. The NSE has already issued a similar advisory to its trading members.
 
While most of these measures are already in place, the exchanges are now seeking stricter adherence by the brokers in their compliance with these due diligence norms to avoid repeat of a situation similar to 5th October when a flash crash in NSE benchmark Nifty caused a brief trading halt in the market.
 
The sudden Nifty fall on the day was attributed to an abnormally high trade orders placed erroneously by brokerage firm Emkay Global for one of its clients.
 
In its circular, BSE said that the trading members need to review quantity and value limit for each order, user and branch value limit for each user identity and spread order quantity and value limit, before executing their orders.
 
In their quarterly compliance reports, the brokers need to provide all these details, as also the limits prescribed after assessing the risks associated with each user of the trading terminal and that of the branch.
 
The limits need to be set up after taking into account the member's capital adequacy requirements. All the limits are to be reviewed regularly and should be up-to-date in the system.
 
BSE further said all the branches or users should have defined limits and daily record of these limits needs to be preserved and should be produced before the exchange as and when the information is called for.
 
BSE said compliance would be monitored as part of annual system audit and the system auditor would verify the compliance officer's certificates confirming that the systems and its records are maintained as prescribed by the exchange.
 
It also said that quarterly compliance certificate for the three months ended December 2012 must be submitted to the exchange before 15 January 2013.
 

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NSE to hold special session for gold ETFs trading on 11th November

Dhanteras is considered an auspicious occasion to buy gold, and a lot of trading interest has been observed on that day, in gold ETF's in the past, NSE said

 
New Delhi: The National Stock Exchange (NSE) will hold a special trading session for gold exchange traded funds on 11th November on the occasion of Dhanteras, reports PTI.
 
The exchange will hold a special trading session for gold Exchange Traded Funds (ETFs) in the equity segment on the 11 November 2012 from 11am to 3.30pm.
 
There will be no trading in any other product in the equity segment, on that day, the exchange said in a statement.
 
Dhanteras is considered an auspicious occasion to buy gold, and a lot of trading interest has been observed on that day, in gold ETF's in the past, it added.
 
Trading in gold ETFs is usually higher on days like Akshaya Tritiya, Dhanteras and during festivals.
 
The gross monthly traded value on gold ETFs on NSE, stood at Rs1,195 crore, taking an average of the first seven months of 2012 (January to July 2012) as against Rs933 crore, in the first seven months of 2011, a rise of about 28%.
 
Assets under management (AUMs) for gold ETF's (on NSE and BSE) stood at Rs11,198 crore as on September 2012 as against Rs8,173 crore at the same time last year, a growth of 37%. Currently, 14 AMCs offer this product on the NSE platform.
 

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