These two tickets, of BB&CI (Bombay, Baroda and Central India) and GIP (Great Indian Peninsular) Railways were found in a scrapbook. The BB&CI ticket is a first-class one, from Marine Lines to Bandra, and costs one rupee, five annas. The date punched on it is 27 Jan 1860. The GIP ticket is very rare. It is from Victoria Terminus to Vile Parle via Mahim. What makes it interesting is the punched date, which reads 16 June (19)10. The word ‘June’ is inverted.
As per the RBI norms, banks are required to lend 40% of their adjusted net credit to the priority sector, which includes agriculture, small-scale industries and other poor sections
Mumbai: The Reserve Bank of India (RBI) today said that loans extended by banks to micro-finance institutions (MFIs) from 1st April onward will be classified as priority sector lending, reports PTI.
"Bank loans to all MFIs, including non-banking finance companies (NBFCs) working as MFIs on or after 1 April 2011, will be eligible for classification as priority sector loans if, and only if, they conform to the regulations formulated by the Reserve Bank," RBI governor D Subbarao said in the 'Monetary Policy Statement for 2011-12'.
The RBI has also decided to appoint a committee to review the priority sector lending classification, Mr Subbarao said, adding that the recommendations made by the Malegam Committee for the micro-finance sector have been broadly accepted.
As per the RBI norms, banks are required to lend 40% of their adjusted net credit to the priority sector, which includes agriculture, small-scale industries and other poor sections.
In January, an RBI committee headed by YH Malegam had recommended that interest rates on loans extended by MFIs should be capped at 24% and individual loans should not exceed Rs25,000.
The MFIs were allegedly charging a high interest rate of over 30%.
"The Reserve Bank has broadly accepted the framework of regulations recommended by the Malegam Committee. We have, however, adjusted some of the parameters recommended by the committee," Mr Subbarao said.
The panel has also suggested that small loans of up to Rs25,000 could be given to families having an income up to Rs50,000 per annum. On repayment, it said the borrowers should be given the option of weekly or fortnightly or monthly return of the loan.
It has said the recommendations should be implemented from 1st April 2011, for the benefit of the sector.
The panel also said at least 75% of loans extended by MFIs should be for income generation purposes. It further recommended that a borrower cannot take loans from more than two MFIs.
The RBI constituted the committee last October in the wake of allegations that overcharging and the use of coercive recovery practices by MFIs led to a spate of suicides in Andhra Pradesh.
The decisions taken by the state government to regulate MFIs slowed down the loan recovery process, hitting the financial health of the sector. It was further aggravated by the reluctance of banks to support MFIs.
The Star advertisements for its new high-definition broadcast system are a good example of poor advertising. For, you cannot use TV as an education medium. People watch TV to be entertained and not to learn science
Star India's five channels, Star Plus, Star Movies, Star World, Star Gold and Nat Geo have gone high-definition (HD). And that's great news. What's the point investing in a high-end HD TV if the telecast is low-def. Naturally, Star needed to advertise this development. But the creative is so bad, you wish they may as well have kept quiet, saved some money, and let the bahus and saases of their TV serials tell us this good news. Anyway, in-product advertising in TV programming has now almost become a norm.
Three rather tiresome commercials are on air to promote Star HD. What they try to do-and that is one of the key advertising don'ts-is to educate us stupid viewers on the science of high-definition television. For some really silly reason, this is hoped to be achieved through some pathetic conversations between two very irritating dudes, as they speed along on a national highway.
The setting of the ads is not only strange, it's pretty thoughtless. I can assure you two young chaps driving out on a holiday would have a lot of riveting issues to discuss, ranging from music to movies, to career, to girls and more girls. The last thing on their minds would be HDTV. And if on account of serious bad luck one was to be stuck with such a boring person, one would jump out of the car and hitch a hike with a bullock cart. Yup, their conversation is THAT bad.
Anyway, they discuss key requirements for high-definition television viewing. That an HD TV and an HD set-top box are faltu items without Star's HD content. And in order to inject a modicum of entertainment, in one of the ads, the youngsters compare a non-HD TV to a sugarcane juice extractor. The idea? One chap explains that a sugarcane machine will only produce sugarcane juice, and not mango milkshake, because the input is only sugarcane. Ergo, an HD TV without the Star HD will deliver poor output. Weird! Likewise in another commercial they chatter about the authenticity of a Rs500 note. And compare that to the asli Star HD. And to be honest, I simply skipped the third commercial, just didn't have the patience to even watch it once.
Good example of really poor advertising. No, you cannot use TV as an education medium, it never works. People watch TV to be entertained and not to learn science. This is well known and yet some marketers make the same folly again and again. No, two dudes on a highway will not discuss TV programming quality. And no, I am not buying Star's HD bouquet. Imagine watching such tripe on HD TV!!!