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Saturday, September 18, 2010

Vision Document of the Scientific Advisory Council to the Prime Minister Released

The Prime Minister Dr Manmohan Singh today released a vision document titled “India as a Global Leader in Science” prepared by the Scientific Advisory Council to the Prime Minister. The document was released after the meeting held today with Chairman, SAC Prof C N R Rao. The Minister of State (Independent charge), Shri Prithviraj Chavan was present on the occasion.

The vision document envisages India becoming a major scientific player in about 20 years, provided that we usher in the right kind of structural and administrative reforms, and create a favourable environment for carrying out innovative work in India. The document notes that all the requirements for such a thing to happen indeed seem to be within our reach, especially with the improving economic situation. “We need to provide adequate support for basic science as well as science required for solving man’s pressing problems. A high percentage of the Indian population is very young unlike in the rest of the world and we have to fully make use of the bright young talent as well as the institutions that we have created. This will require major educational reforms as well. By minimizing bureaucracy and promoting creativity and quality, there is every likelihood that India can be one of the very best performers in science in about 20 years, sharing such a position with the most advanced countries of today. If such a thing happens, this will further contribute to economic and industrial development in a major way”, the document states.

The Prime Minister hoped that the ideas in the vision document will inspire the scientific community and all concerned to help build an inclusive, economically and socially vibrant, creative and an enterprising India, and to pursue excellence in science and technology for global good. 

Courtesy  : PIB

Opening of No-Frills accounts by students for availing various Government Scholarships

RBI/2005-06/204
DBOD.No.Leg.BC. 44/09.07.005/2005-06
November 11, 2005
To
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir,
Financial Inclusion
2. The Annual Policy Statement of April 2005, while recognising the concerns in regard to the banking practices that tend to exclude rather than attract vast sections of population, urged banks to review their existing practices to align them with the objective of financial inclusion. In many banks, the requirement of minimum balance and charges levied, although accompanied by a number of free facilities, deter a sizeable section of population from opening / maintaining bank accounts.
3. In this context, with a view to achieving the objective of greater financial inclusion, all banks are advised to make available a basic banking 'no-frills' account either with 'nil' or very low minimum balances as well as charges that would make such accounts accessible to vast sections of population. The nature and number of transactions in such accounts could be restricted, but made known to the customer in advance in a transparent manner. All banks are advised to give wide publicity to the facility of such a 'no-frills' account including on their web sites indicating the facilities and charges in a transparent manner.
4. The number of such deposit accounts opened by the bank may be reported to us on a quarterly basis.
5. Immediate action may be initiated and compliance reported to us within one month.
6. Please acknowledge receipt.
Yours faithfully
(Prashant Saran)
Chief General Manager

Dishonour / Return of Cheques - Need to Mention the 'Date of Return' in the Cheque Return Memo

RBI/2010-11/190
DPSS.CO.CHD.No. 485 / 03.06.01 / 2010-11
September 1, 2010
The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks
Madam / Dear Sir,
Dishonour / Return of Cheques - Need to Mention the 'Date of Return'
in the Cheque Return Memo
As you are aware, the 'Cheque Return Memo' that should accompany a cheque dishonoured / returned for any reason is a critical document, more so in case recourse to legal action is necessitated. The procedure for handling dishonoured cheques including the return / dispatch thereof to the payee has been advised, vide, Reserve Bank circular DBOD.BC.Leg.No.113 / 09.12.001 /2002-03 dated June 26, 2003.
Rule 6 of the Uniform Regulations and Rules for Bankers’ Clearing Houses (URRBCH) also prescribes that instruments returned unpaid should have a signed / initialed objection slip on which a definite and valid reason for refusing payment must be stated. Format of the Return Memo (including the field for indicating the Date of Return) and the Model List of Objections is contained in Annexure D to the URRBCH.
Certain instances of banks not mentioning the date of return on the Cheque Return Memo have been brought to our notice.
Keeping in view the larger interests of customers and to ensure that uniform practices are adopted, banks are hereby advised to indicate the 'date of return' in the Cheque Return Memo without fail.

Yours faithfully,

(P.Vasudevan)
Deputy General Manager

Monday, September 6, 2010

CSIR CCO Association: DPC

CSIR CCO Association: DPC: "Does Interview in DPC lead to unfair evaluation? Friends All organizations have different policies for recruitment & promotions. However, t..."