Central Bank's image has been dented post demonetisation: RBI staff

January 14, 2017

New Delhi, Jan 14: In a strongly worded letter addressed to Reserve Bank of India (RBI) Governor Urjit Patel, the United Forum of Reserve Bank Officers and Employees has alleged that post the government's demonetisation move, the image of the Central bank has been dented beyond repair.

rbi

"Commenting on the "mismanagement" since November 8 when demonetisation was announced and the criticism from different quarters followed, the letter said, "Its (RBI's) autonomy and image have been dented beyond repair," an official of the All India Reserve Bank officers Association said here.

"We request the Governor of the RBI, its highest functionary and protector of its autonomy and prestige, to do the needful urgently to do away with this unwarranted interference from the Finance Ministry and assure the staff accordingly as the staff feels humiliated," the letter added.

Various employee unions of the central bank have objected to the government "impinging on RBI autonomy" and have written to Patel to take action against the "unwarranted interference".

In a letter, they said the autonomy and image of the RBI has been "dented beyond repair" due to mismanagement and termed the appointment of a senior Finance Ministry official as a "blatant encroachment" of its exclusive turf of currency management.

"If true, this is most unfortunate and we take strong exception to this measure of the government as impinging on the RBI autonomy and its statutory as well as operational jurisdiction," the letter said.

The Association asserts that the RBI is fully capable to co-ordinate the central bank's currency chest operations which it has been performing over decades, and they do not need "any assistance" from anywhere.

The letter suggests that the union may assume that the RBI did not ask for deployment of a joint secretary of the Finance Ministry in its functions, rather it's the latter which has imposed itself on the central bank, which is absolutely unacceptable and deplorable.

The official of RBI officers association stated that there have been no review in pension issue for last 16 years has displayed hostilities on the employees.

The letter sought to draw attention to the RBI Act 1934, which stipulates that the central bank was constituted lo "regulate the issue of notes and keeping of reserves with a view to secure monetary stability in India" and generally to operate the currency and credit system of the country.

The association also urged the media to voice grievances associated with the RBI.

The letter comes days after concerns about RBI's functioning being raised by at least three former governors -- Manmohan Singh (former prime minister), Y. V. Reddy and Bimal Jalan. Former deputy governors including Usha Thorat and K. C. Chakrabarty have also voiced their concerns in this regard.

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Think Tank
 - 
Saturday, 14 Jan 2017

MODI has done it.....................Greed for name and fame.............by the cost of Common Man's Black(White)Money

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Agencies
July 29,2020

Ambala, Jul 29: The five French Rafale fighter jets touched down at Haryana's Ambala after covering a distance of nearly 7,000 km to join the Indian Air Force.

The jets were given a customary water salute upon their arrival at the airbase, some 220-km from the India-Pakistan border.

The formal induction ceremony of the aircraft would be held later. The aircraft would move out soon to another operational base for operational sorties.

After taking off from France on Monday, the aircraft made their first stopover at a French base in the United Arab Emirates on their way to India and were refuelled by the French Air Force tanker aircraft somewhere around Greece or Israel over the sea before landing there.

The five were flown by pilots of the 17 Golden Arrows led by Commanding Officer Group Captain Harkirat Singh along with other pilots, Wing Commanders MK Singh, R Kataria, Sidhu and Arun.

The five Rafale fighter aircraft took off on Monday for India from an airbase in France. The weather in Ambala was cloudy with one or two spells of rain or thundershowers being forecasted.

India had signed a Rs 59,000-crore deal on September 23, 2016 for 36 Rafale jets from French aerospace major Dassault Aviation.

In view of Rafale fighter jets landing in the city on Wednesday, Section 144 is being imposed in four villages close to Ambala airbase. Munish Sehgal, DSP Traffic, Ambala, said the administration is on a high alert and the gathering of people on roofs and photography during landing has been strictly prohibited.

The five Rafale fighter jets had entered the Indian Airspace earlier in the day. "The Birds have entered the Indian airspace..Happy Landing in Ambala!" tweeted the Defence Minister's Office earlier on Wednesday.

The Defence Minister's Office further informed that the five Rafales were escorted by 02 SU30 MKIs as they enter the Indian airspace.

Here are the key Highlights of Rafale:

It's an Omni role aircraft.
4th Generation Fighter Jet.
It's a two-engine aircraft.
It's top speed is 2,222 Km/Hr.
It can go up to 50,000 Ft.
It's Rate of Climb is 60,000 Ft/Min.
It's Operational Range is 3,700 Km.
Ground Support.
In-depth Strike.
Anti-Ship Strike.

Reach and combat radius is 1600-1700 Kms.
Capable for Long Range standoff Mission.
Equipped with Air-to-Ground Missile System.

Specifically designed to take off from an extremely cold high altitude region.

It will also be fitted with the air-to-air beyond visual range interception combat and self-defence missile.

It can also carry the best long range air-to-land missile.

It has multi-directional radar system which can detect 40 targets at the same time in a range of over 100 Kms.

It has advance radar warning receiver to identify hostile tracking system a towed decoy system to thwart incoming missile attacks.

Rafale will ensure that our pilots will not have to cross the border to strike the target, that is about 600 Km in enemy territory.

It will get French industrial support for 50 years. 

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Agencies
August 5,2020

Ayodhya, Aug 5: Prime Minister Narendra Modi on Wednesday recalled the significance of the path of 'maryada' associated with Lord Ram in the backdrop of the situation created by COVID-19 and emphasised the importance of social distancing and wearing face masks.

He said that the current situation demands 'maryada' should be 'do gaz ki doori, mask hai zaroori' and exhorted everyone to follow it.

In his speech after laying the foundation stone of the Ram Temple in Ayodhya, the Prime Minister said the temple of Lord Ram will inspire and guide humans for ages to come.

He said that the path of `maryada' followed by Lord Ram is all the more necessary today in the situation created by COVID-19.

"The `maryada' (need) today is do gaj ki doori, mask hai jaroori (keep distance of two yards, wear mask). The Almighty may keep all the citizens healthy and happy, this is my prayer. The blessings of Mother Sita and Shri Ram be always there on the citizens," he said.

The Prime Minister termed the occasion as historic and said that India is starting a glorious chapter when people across the country are excited and emotional to have finally achieved what they had been waiting for centuries.

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News Network
May 27,2020

New Delhi, May 27: Professor Johan Giesecke of the Karolinska Institute, Sweden, on Wednesday claimed that India will ruin its economy very quickly if it had a severe lockdown.

Claiming that a strict lockdown may disrupt India's economic growth, Giesecke during an interaction with Congress leader Rahul Gandhi said: "In India, you will do more harm than good with strict lockdown measures. India will ruin its economy very quickly if it had a severe lockdown."

While calling for a soft lockdown approach in India, he suggested that India has to ease restrictions one by one. It may, however, take months to completely come out of lockdown, he said.

He further criticised countries across the globe for having no post-lockdown strategy.

Emphasising on the disease, the Swedish health expert said that coronavirus is spreading like a wildfire across the world. "It is a very mild disease. Ninety-nine per cent infected people will have very less or no symptoms," he added.

Meanwhile, Ashish Jha, Director Harvard Global Health Institute and a recognised public health official, in interaction with Gandhi, called for a need to go in for an 'aggressive' COVID-19 testing to create confidence among people.

"When the economy is opened post-lockdown, you have to create confidence. There is a need for aggressive testing strategy in high-risk areas," he said.

He asserted that COVID-19 is not the last pandemic in the world, adding that "We are entering the age of large pandemics".

Jha further said that countries like South Korea, Taiwan and Hong Kong have responded the best to COVID-19 pandemic, while Italy, Spain, the US and the UK have responded the worst.

A few days ago, the Gandhi scion had interacted with former Reserve Bank of India Governor Raghuram Rajan and Nobel Prize Winner Abhijit Banerjee to discuss various issues related to the COVID-19 crisis.

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