Citizens' Issues
Suspended Gurdaspur SP to be quizzed by NIA again
New Delhi : Suspended Gurdaspur Superintendent of Police Salwinder Singh and his cook were on Thursday brought to the NIA headquarters for questioning even as the joint investigation team from Pakistan is here to probe the Pathankot terror attack.
 
Singh has claimed that he, his friend Rajesh Verma and cook Madan Gopal were abducted by four or five heavily-armed terrorists near Punjab's Kolia village on January 2. The terrorists later attacked the Pathankot Indian Air Force base, in which seven security personnel were killed. The Pakistani terrorists were later killed in the shootout. 
 
The Pakistani team is in India to probe the Pathankot attack.
 
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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Deposit growth falls below 10%, credit growth remains weak
Lack of fresh investment continues to lead to a low demand of credit from corporates 
 
The credit growth for the fortnight ended 18 March 2016 was stable at 11.3% as against 11.5% in the previous fortnight. At the same time, deposit growth dipped to sub-10% levels, shows data released by the Reserve Bank of India (RBI).
 
"Deposit growth declined to 9.9% on account of a decline in term deposits. Investment growth fell for the third consecutive fortnight to 5.9%, which led the statutory liquidity ratio (SLR) to dip to 25.9%. Credit growth has been weak over the last few months due to low corporate demand and lack of fresh investments. We do not see material improvement ahead and forecast 12% growth for FY2016," says Religare Capital Markets Ltd in a research note.
 
 
As per RBI data, credit growth for the fortnight ended 18th March was stable at 11.3% compared with 11.5% the previous fortnight. In absolute terms, credit offtake increased by Rs30,000 crore as against Rs80,000 crore in the fortnight ended 4th March. Weakness over the last few months has stemmed from low corporate demand and a lack of fresh projects. As per sectoral deployment of bank credit, growth in non-food credit as of January 2016 improved to 9.8%. Growth in the agriculture and retail segments picked up to 13.4% and 18.1%, respectively while that in the services sector moderated to 8.9%. A slowdown was observed across sub-sectors such as food processing (-2.4%), beverages and tobacco (-4.6%) and cement & cement products (-3.8%).
 
During the fortnight, term deposit declined by Rs60,000 crore to Rs84.8 lakh crore. Investment growth too tumbled to 5.9% compared with 6.8% in the previous fortnight, which drove the SLR lower to 25.9%. Banks have been consciously keeping SLR balances above the regulated levels of 21.5% as this helps them meet liquidity coverage ratio (LCR) requirements. "In our view, slow credit offtake is another contributing factor that should keep SLR elevated in coming months as well," the report says.
 
Talking about loan growth in FY2016, Religare said, "We do not expect any material improvement in credit growth for FY2016 and build in modest about 12% growth for the year. Mid-tier public sector banks are likely to grow below the system due to asset quality stress. This should lead to market share gains for private banks, especially mid-tier names such as YES Bank and IndusInd Bank, which we expect will grow much higher than the industry."

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COMMENTS

Surinder Kumar Kohli

8 months ago

The governments attitude is negative towards savings. The gradual decrease in interest rates on bank fixed deposits and other savings instruments has lead to this situation. The recent reduction and interest on PPF and SCSS schemes shows governments apathy towards senior citizens and small traders, who deposit money in SCSS and PPF.

Ramesh Poapt

8 months ago

deposit growth will fall further from Apr.16, as the banks will cut deposit rates aggressively as Govt's small deposit schemes rates has been lowered now. Further, RBI will cut rates in 5 April16 meet. In absence of lending opperunities as NPA mess, deposit growth was rightly lower.

Chandragupta Acharya

8 months ago

The usage of the terms "weak" & "strong" to refer to "low" and "high" credit growth is judgmental and faulty. What was celebrated as "strong" credit growth 3 years ago has come back to haunt us as NPAs today. Banks can be imprudent in their lending and show rapid growth for long periods of time before the chickens come home to roost. I would therefore request you to avoid this erroneous usage.

REPLY

Ramesh Poapt

In Reply to Chandragupta Acharya 8 months ago

sir, strong/weak is in quantitative term only and not qualitative. nothing wrong about it.

5 parameters to measure disabled-friendliness of companies
There are scores of good and not-so-good examples of companies in India when it comes to employing people with disabilities. Here are five broad parameters with specific measures for developing a Company Index for being disabled-friendly
 
Ninad Jain, 27 years old was elated to finally get a job with a business process outsourcing (BPO) unit making him both financially independent, as well as, a proud son who could take care of his ageing parents like other youngsters. When Nitin was barely 12 years, doctors discovered tuberculosis (TB) in his spine, which had to be surgically treated. TB was cured but it resulted in a spinal cord injury, a permanent disability making it difficult for him to walk without support. After an arduous rehabilitation and adjusting to the new reality, he could study only up to 10th standard. 
 
Thus, his chances of a good job eluded him due to his poor academic qualifications. Being a bright boy he self-learnt computer skills, applied for jobs and finally landed this plum one in a multi-national, multi-location BPO.
 
As a non-governmental organisation (NGO), we had supported him in his rehabilitation journey and he had joyously shared this good news with us. Therefore, it was a surprise to hear his feeble voice on the first day of his new job. He narrated that the distance from the elevator on his floor up to his desk was more than 300 yards and the washroom another 150 yards. He used crutches to walk. Due to high air conditioning, he frequently needed to go the washroom. But each trip was over slippery glazed tiles. He consulted us and we suggested that the company station a wheelchair on the floor for his use while in the office. The next day he called again stating that the human resources (HR) department had declined the suggestion and said if he needed a wheelchair he had to get his own, and the company would not provide it. We were stumped. A multi-million dollar company refusing to buy a Rs5,000 worth of wheelchair for the benefit of a disabled employee. Our NGO bought and gave the wheelchair to Ninad knowing how important this job was for his self-confidence and esteem!
 
There are scores of good and not-so-good examples of companies in India when it comes to employing people with disabilities. In 2015, India launched the ambitious ‘Accessible India Campaign’ and with it a hint of developing a Company Index for being Disabled-friendly. Having been closely connected with the disability sector for over 20 years I gave the above an immersive thought and here are my novel suggestions for the proposed index. 
 
There could be five broad parameters with specific measures for the Index: 
1) Policy
I. Recruitment, employment and diversity
II. Flexiwork, flexi timings and work from home options 
III. Advertising
IV. Corporate
V. Quality
VI. Training and Development
VII. Inclusive products and service
VIII. Stakeholders and suppliers
IX. Electronic 
X. Number of PWD (People with disability) in the past 3 years, the 3% reservations notwithstanding
XI. Medical and leave options
XII. Ease of converting a new idea for the benefit of employee with disability
XIII. Policy for being disabled on the job
 
2) Infrastructure
I. Accessible Buildings 
II. Accessible offices & all facilities
III. Accessible Toilets 
IV. Elevators
V. Ramps
VI. Signage
VII. Special parking
VIII. Wheelchairs on premises
IX. Accessible websites
X. Special software
XI. Sign language interpreters
XII. Trained staff on all aspects of disability and etiquette
XIII. Customisation as per specific needs
XIV. Company information in accessible formats (Braille Annual Reports etc.) 
 
 
3) Financials
I. Compensation
II. Incentives
III. Promotions and transfers
IV. Investments for making it a disabled friendly company
V. CSR contribution for the disability sector
VI. Budgetary allocations
VII. Insurance for accidents and disability
 
4) Equal Opportunities for
I. Participating in National & International conferences, workshops & seminars
II. Growth & Promotions
III. Travel
IV. Projects
V. Participation in all company core and extra-curricular activities like Yoga, dance, sports, festivals, outbound and more
 
5) Innovations
I. Attendant and escort services
II. Celebrate with PWD NGOs and groups
III. Ergonomics
IV. Motorised and manual wheelchairs on premises
V. Travel allowance
VI. Special allowances like diaper allowance
VII. Medicines, medical supplies, diagnostics, assistive technology and therapy allowances for good health
VIII. Scholarships for employees, family members with disability
IX. Awards received for being inclusive
X. New product developed for PWDs
 
There are some 'super' employees who put their health, family or social life aside to bring results and outcomes consistently at the workplace, overcoming several personal and organisational speed-bumps to excel in their jobs translating into higher profits, bigger contracts, saving a customer from defecting or upgrading the quality of output. 
Similarly, there are 'super' companies, which think and act futuristically, adopting the parameters mentioned above and walking together for a wonderful tomorrow!
 
(Dr Ketna L Mehta is an educationist, editor, author and Founder Trustee of Nina Foundation that works for the rehabilitation of economically and socially disadvantaged people with spinal injuries. Her PhD Thesis was “Market Potential Study for a World Class Spinal Cord Injury Rehabilitation Centre in Mumbai”. She is also Editor and Associate Dean Research, WeSchool. Dhaval Mehta is CMD, kreate & Young Advertising. He is also Trustee of Nina Foundation, responsible for the NGO's brand identity, creative communication and advertising campaigns. Email- [email protected], www.ninafoundation.org)

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COMMENTS

Jagrati

8 months ago

1oo Million $ IT park does not have good pedestrian walk way, over bridge to cross the roads, leave alone a wheelchair dependent person. Every day when I walk in IT park or see someone guiding wheel chair, same thoughts keep coming again and again just few lakhs more &or better planning could have made the infrastructure compatible to disabled.

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