According to the ratings agency, majority of banks maintained an SLR above 25% when the SLR was 23% as on 31 March 2014 and therefore, the actual impact may be limited to banks which are on the fringe of this ratio
The Reserve Bank of India (RBI), in its third bi-monthly credit policy review has reduced statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points to 22% from 22.5% of their net demand and time liabilities (NDTL). However, according Credit Analysis & Research Ltd (CARE Ratings), the impact of SLR cut may be limited to banks, which are on the fringe of the ratio.
In a research note, the ratings agency, said, "...the current SLR of banks stands at 26.7% of NDTL as of 11 July 2014. It may also be noted that a sample of 39 banks taken (private and public), five banks maintained an SLR below 25% while remaining 34 banks maintained an SLR above 25% as on 31 March 2014 when the SLR was 23%. Therefore, the actual impact may be limited to banks which are on the fringe of this ratio."
The central bank also reduced the ceiling on bank holdings of SLR securities in the HTM category to 24% of NDTL from 9 August 2014 in order to enhance liquidity in the money and debt market. "This will have a positive though marginal impact on the liquidity conditions in the market as it will depend on how banks react to the same," CARE Ratings said.
The ratings agency said, it expects inflationary pressures to continue for the next two months owing to two important factors going ahead which need close monitoring before any further monetary action: uncertainty in monsoons and higher fuel prices due to adjustment to market prices. Going ahead, RBI is expected to keep a close watch on how inflation trajectory evolves in the months ahead. Inflation may not come down when the next policy is announced."
CARE Ratings said it sees no reduction in key policy rates over the next two months. "However, " it added, "a rate cut may be considered towards the end of the year depending on the kharif output in the months of October-November and how inflation behaves."
The essentials of western medicine could be clubbed with the best of other systems like Ayurveda, Homeopathy, Siddha, Unani, Acupuncture, and Herbal medicines to make sickness care less expensive, more useful and less dangerous
"Unless we put medical freedom into the Constitution, the time will come when medicine will organize into an undercover dictatorship to restrict the art of healing to one class of men and deny equal privileges to others; the Constitution of the Republic should make a Special privilege for medical freedoms as well as religious freedom." -Benjamin Rush, MD., a signer of the Declaration of Independence and personal physician to George Washington.
India is a very vast- almost like a continent- country with a little over 1.2 billion population. Majority of us are below the age of 30, but there is a growing population of the elderly and even the old elderly. We are biologically, culturally, racially, ethnically, environmentally and even in our food habits totally different from the white Europeans. As such the western model of what is believed to be scientific medicine does not fit in here. Even in the west their own system is felt to be outmoded for their present day needs.
(Amer. J.Med 2004; 116: 179)
Organ-based mechanistic reductionist model of the human physiology is found not to work in a holistic dynamic human body, which is nothing but the human mind (consciousness)-energy vibrations. Health is when the body cells, of which there are one hundred thousand trillion in all, are in sync. Disease is when they are out of sync.
Naturally, treatment is to reset the energy balance using various methods available in many systems of medicine all over the world. Unfortunately in the last century, money bags in the US joined hands to support only those medical colleges using their reductionist chemicals for treatment declared as “scientific” and the rest as unscientific, based on the Abraham Flexner report. Incidentally, Flexner was only a High School retired Head Master and knew nothing of medicine or science!
India’s major problem in health care is the poverty related malnutrition that not only kills young children of nutritional immune deficiency syndrome (NIDS) but saps the strength of the immune system in the majority of the poor adults as well making them vulnerable to many illnesses. Poverty also is a double edged sword in illness. Whereas it makes the poor more prone to illnesses, it takes away their daily wage earning capacity when they fall ill, thus pushing them further into the bottomless pit of want. If the government could work on a war footing to try and provide the following to all citizens, our sickness load almost vanishes with a few chronic illness left behind. They are:
Clean drinking water for all citizens
Illnesses need a new working classification, which makes it easier to identify and also to treat easily using the best in all medical care systems being practised in India. I had suggested such a system years ago published in peer reviewed journals. I shall condense it here for the government to take notice if they want.
• Emergency medicine………………………………………5%
• Minor illness syndromes…………………………………..35%
• Degenerative diseases……………………………………...10%
• Doctor-thinks-you-have a disease syndrome………………10%
• Patient –thinks-s/he-has-a-disease syndromes……………..10%
• Congenital diseases…………………………………………5%
• Incurable diseases like cancer etc…………………………..15%
• Psychological illnesses………………………………………5%
Today’s top heavy five-star hospital based western medicine spends almost three fourths of the money for emergency treatment of diseases most of which do not get “cured” anyway. We are only palliating making our intervention worse than his disease. We do need western medicine for emergency care of seriously ill patients but their proportion is very small in the whole picture. Top heavy western medicine must be confined to emergency care and corrective surgery alone. The large chunk of minor illness syndromes whose sheer numbers belie their benignity but they could all be managed with most of the alternate systems like, energy medicine using known and occult energies, Ayurveda and Homeopathy, Siddha, Unani, Acupuncture, and Herbal medicines. There are proven methods of treatment for degenerative diseases in some of the alternate medical systems.
A doctor thinks you have a disease syndrome and need no drug intervention but need advice to change the mode of living to a healthy life style avoiding smoking and alcohol, encouraging regular exercise, sensible diet, and to avoid negative thoughts. Patient thinks s/he has a diseases and need sensible psychotherapy and behavioural therapy. So also do some of the psychiatric diseases where western medicine pushes lorry loads of dangerous chemicals. The latter are now known to damage the brain to produce the new syndrome of dementia. (Dementia-a drug induced crime on mankind-book by Professor Grace Elizabeth Jackson)
India needs an integrated medical system education that takes the best in all systems after due authentication by hard scientific methods. We need a new curriculum and reorientation for teachers. The essentials of western medicine could be kept, which is to be clubbed with the best in other systems to make sickness care less expensive and more useful and less dangerous. The curse of western medicine today is the adverse drug reactions (ADRs), which are the leading cause of death in that system.
Doctors' training should stress on producing good, humane, empathetic healers who are very useful as we now know that the medicines and the interventions that we practice do not heal. It is the faith that the patient has in the system and his doctor that heals. Mind heals and reductionist chemical drugs only harm. (Genetics 2008; 179: 727 and Sci Transl Med 16 February 2011)
Medical education is crying for a change but that cannot come about in the present setting as all the vested interests have a stake in maintaining the status quo ante. We need some drastic changes right away. The idea of having more tertiary care centres spending tons of the tax payers’ money is a retrograde step. We need to close some such centres for the good of society as well. A fourteen country advanced nations study did reveal that where there are more doctors per capita and more specialists THERE IS LESS HEALTH AND MORE DEATH. The dangerous medical myth is that vaccines for every infectious disease will eradicate the disease. The recent rotavirus tragedy is one futile effort to prevent diarrhoeal diseases. Good childhood and pregnancy nutrition coupled with adequate rehydration therapy should control and eventually eliminate rotavirus diarrhoea. We should not fall prey to western propaganda even when the vaccine is locally manufactured.
Long term observational studies of human species running into twenty five, (MRFIT) seventy five, (Grant study) and ninety years (Termen study) have upturned the findings of scores of short term cross sectional randomised controlled trials to show that there are nothing called risk factors, but there are risks of precocious death. The last two studies showed that for man to live long and healthy, one needs a healthy life style consisting of:
• Happiness is love. Full Stop. Love all to live well.
• Improve social relations— spend time with friends to lose the “I” (illness) to get the “WE” (wellness)
• Increase levels of physical activity— go for a long walk.
• Help others and express gratitude to those who have helped you
• Take on new challenges to remain fresh and in-the-moment at any age!
• Age is only a chronological number.
• Some worry is good for longevity and good health.
In addition to all these, India has the great legacy of that all-powerful health tonic in Yoga, the ancient Indian wisdom. We could make it a part of primary educational physical activity. Coupled with meditation this could lay a good foundation for healthy living lessening the burden of sickness care in later life as well. Yoga has no religion attached to it and is being practised in churches as well. If one carefully mulls over the above details one wonders how our ancient sages had thought of all these centuries ago! I should be pleased to give more details should the need arise. I have in fact a ready module in place which we tried on a small scale with success. So, all that is written above is doable.
"At the end of times the merchants of the word will deceive the nations of the world through their Pharmacia." (Sorcery) - Rev 18:23
(Professor Dr BM Hegde, a Padma Bhushan awardee in 2010, is an MD, PhD, FRCP (London, Edinburgh, Glasgow & Dublin), FACC and FAMS. He is also Editor-in-Chief of the Journal of the Science of Healing Outcomes, chairman of the State Health Society's Expert Committee, Govt of Bihar, Patna. He is former Vice Chancellor of Manipal University at Mangalore and former professor for Cardiology of the Middlesex Hospital Medical School, University of London.)
SEBI found JSV Developers collecting money from public through its various schemes of joint venture association for development and maintenance of land
Market regulator Securities and Exchange Board of India (SEBI) has barred Madhya Pradesh-based JSV Developer India and its three directors, VijayLaxmi Kathait, Bhupendra Singh Kathait and Dinesh Hemraj Tembhare from raising funds from public and not to float any new plans.
SEBI said it found that JSV Developer was collecting money from public through its various schemes of "joint venture association" for development and maintenance of land.
This plan was found to be allegedly in the nature of unauthorised 'Collective Investment Scheme (CIS)', SEBI said in an order issued on 31st July.
Noting that steps had to be taken to ensure that no investors is defrauded through fraudulent schemes, SEBI has directed JSV Developer and its three directors "not to collect any fresh money from investors from its existing scheme" and "not to launch any new association/scheme/plan or float any new companies to raise fresh moneys".
The company and its directors have also been asked not to dispose of any of the properties or alienate the assets of the existing scheme as well as not to divert the funds raised from public.
The orders have come into force with immediate effect and will apply until a final decision is taken in the matter.
Besides, the entities have been ordered to "immediately submit" the full inventory of the assets owned by JSV out of the amounts collected from the schemes and furnish all the information sought by SEBI including scheme wise list of investors, details of amount mobilised and refunded till date.
The market regulator had begun a probe into the matter after receiving a copy of order by Madhya Pradesh High Court from the Ministry of Finance, in 2012.
It was observed, among others, that the petitioners therein had filed a public interest litigation (PIL) seeking order of enquiry against various financial companies, including JSV Developer.
The petitioners had pleaded that thousands of persons of across Madhya Pradesh had been cheated by various finance companies under the garb of various schemes, which used to collect deposits from public with a promise to pay the money back with higher return of interest from 15-20%.
SEBI said that "the activity of fund mobilisation by JSV Developer with a resultant promise of returns clearly falls within the ambit of 'collective investment schemes' as defined in... the SEBI Act".