Wednesday, September 25, 2013

Sonia Gandhi - A Blot on the Nation by Mark Tully

Sir William "Mark" Tully, OBE. He worked for BBC for a period of 30 years before resigning in July 1994. He held the position of Chief of Bureau, BBC, Delhi for 20 years. Padma Shree, KBE, Padma Bhushan, one of the most respected journalists in the world, writes on Indian Politics: An eye opener account, not known to most of the Indians.

"I can say without the shadow of a doubt that when history will be written, the period over which she (Sonia Gandhi) presided, both over the Congress and India, will be seen as an era of darkness, of immense corruption and of a democracy verging towards autocracy, if not disguised dictatorship, in the hands of a single person, a non-Indian   and a Christian like me. Truth will also come out about her being the main recipient for kickbacks from Bofors to 2G, which she uses to buy votes."



The sun has already set; darkness is just about to start. Do you blame it on bankruptcy/blindness of Congress or country's misfortune. It is both. Now read the complete analysis, which follows. 

THE TRUTH & THE HIDDEN FACTS. I was surprised when the Congress party gave me a Padma Shri – I am the   only foreign journalist to ever get it. For, in my forty years of political reporting in India, I have always been a vocal critic of the Nehru dynasty. Someone even called me recently: “a vitriolic British journalist, who in his old age chose to live back in the land he never approved”.

It started with Operation Blue Star. I was one of the few western correspondents who criticized Indira. As I have said since then numerous times, the attack on the Golden Temple and the atrocities that followed the army operations, produced in all sections of the Sikhs a sense of outrage that is hard today to alleviate. I believed then that the large majority of Hindu India, even if politically hostile to Indira Gandhi, openly identified with – and exulted in – her will to overwhelmingly humble a recalcitrant minority.

As everybody knows, Indira Gandhi helped my fame grow even more, by wanting to imprison me during the Emergency she clamped and finally throwing me out of India for a short while. But the result was that the whole of India tuned in, then and thereafter, to my radio’s broadcasts, ‘The Voice of India’, to hear what they thought was ‘accurate’ coverage of events.

When Rajiv Gandhi came to power, I first believed that he was sincerely trying to change the political system, but he quickly gave-up when the old guard would not budge. I criticized him for his foolish adventure in Sri Lanka, although I felt sorry for him when he was blown to pieces by Dhanu, the Tamil Tiger.

It is in Kashmir, though that I fought most viciously against his Govt and subsequent Congress ones for its human right abuses on the Kashmiri Muslims of the Valley. The Congress Governments tried indeed several times to censor me and the army even took prisoner my Kashmiri stringer, whom I had to rescue by the skin of his teeth. I am also proud that I was the first one to point out then, that the Indian Government had at that time no proof of the Pakistani involvement in the freedom movement in Kashmir. 

Thus I always made it a point to start my broadcasts by proclaiming that the Indian Government accuses Pakistan of fostering terrorism», or that “elections are being held in Indian-controlled Kashmir”…As I was so popular, all the other foreign journalists used the same parlance to cover Kashmir and they always spoke of the plight of the Muslims, never of the 400.000 Hindus, who after all were chased out of their ancestral land by sheer terror (I also kept mum about it).

As for Sonia Gandhi, I did not mind her, when she was Rajiv Gandhi’s wife, but after his death, I watched with dismay as she started stamping her authority on the Congress, which made me say in a series of broadcasts on the Nehru Dynasty: “It’s sad that the Indian National Congress should be completely dependent on one family; the total surrender of a national party to one person is deplorable. You have to ask the question: what claims does Sonia Gandhi have to justify her candidature for prime-ministership? Running a country is far more complicated than running a company. Apprenticeship is required in any profession — more so in politics”.

I heard that Sonia Gandhi was unhappy about this broadcast. Then, after President APJ Abdul Kalam called her to the Raj Bhavan and told her what some of us already knew, namely that for a long time, she had kept both her Italian and Indian passports,which disqualified her to become the Prime Minister of India, she nevertheless became the Supreme leader of India behind the scenes. It is then that I exclaimed:“the moribund and leaderless Congress party has latched onto Sonia Gandhi, who is Italian by birth and Roman Catholic by baptism”.

She never forgave me for that. Yet, today I can say without the shadow of a doubt that when history will be written, the period over which she presided, both over the Congress and India, will be seen as an era of darkness, of immense corruption and of a democracy verging towards autocracy, if not disguised dictatorship, in the hands of a single   person, a non Indian and a Christian like me.Truth will also come out about her being the main recipient for kickbacks from Bofors to 2G, which she uses to buy votes, as the Wikileaks have just shown.

Finally, I am sometimes flabbergasted at the fact that Indians – Hindus, sorry, as most of this country’s intelligentsia is Hindu – seem to love me so much, considering the fact that in my heydays, I considerably ran down the 850 million Hindus of this country, one billion worldwide. I have repented today: I do profoundly believe that India needs to be able to say with pride, “Yes, our civilization has a Hindu base to it.”The genius of Hinduism, the very reason it has survived so long, is that it does not stand up and fight. It changes and adapts and modernizes and absorbs – that is the scientific and proper way of going about it.

I believe that Hinduism may actually prove to be the religion of this millennium, because it can adapt itself to change. Hindus are still slaves to MUSLIMS and CHRISTIANS. On the name of secularism, lots of facilities and cash incentives are given to Muslims and Christians. Haj subsidy is given to Muslims for Haj yatra, wages of Muslim teachers and Imams are given to Muslims are given by looting the Hindu temples. No such subsidy is given to Hindus for going to Hindu religious places or any wages to Hindu religious priests or Hindu teachers. In fact congress secular government creates many obstacles for Hindus for going to Amarnath Yatra.

Even after 65 years of independence reservation is given on religious grounds while it should have been abolished by this time. If at all reservation or subsidy is needed, then it should be purely on economic grounds rather on the grounds of minorities. Such reservations affect the quality of work. Congress party giving various kinds of allurements to minorities to buy their votes with Hindu money. In the government, many people are with Hindu names but in fact many are Muslims and Christians with Hindu names (**) to fool Hindus and to show in the government, majority   people are Hindus.

 ** The obvious reference is to Digvijay Singh, Ambika Soni etc 

Saturday, September 14, 2013

They are no GOD so y not treat them like normal humans... ?

Millions of Indians are poor, illiterate and malnourished. They are prone to disease and their life expectancy is low. If a healthy mind requires a healthy body, millions of Indians are incapable of having healthy minds. Millions of Indians are also followers of godmen, whose ranks include people like Asaram.

Spiritual guides, saints and others given to epiphany are common to all cultures around the world, their frequency coming down with the advance of modernity and rationality. Industrial and post-industrial life has seen a sudden decline in the number of miracles and of holy men associated with them.

India remains largely pre-industrial, even today. In 2011, for the first time, the share of the working population engaged in agriculture dipped below 50%. Even now, more than two-thirds of all Indians live in rural areas. Even those who live in towns carry with them the baggage they brought from the village, beliefs and ideas for the most part.

Just last week, at a wayside dhaba in Uttar Pradesh, a man shot dead an 11-year-old who refused to wash a tumbler for him — so what if he did not work at the dhaba and was there only to watch television, he was a Dalit and how could he defy a direct order from his social superior? (Note that television and guns, modern inventions in themselves, did not quite modernise the interaction between the shooter and the television viewer.)

In such a country, it would be surprising if godmen like Asaram did not proliferate. How should the state deal with errant godmen? Exactly as it would deal with errant men. There should be no compromise on this. This is more than just maintaining equality before the law. Refusing to make any special allowances for godmen is part of nation-building in this country where the constitutional ideal of liberal democracy is not an actualised reality but a goal, an ideal, the imperative to attain which should inform every action of the state.



No Place for Godmen

Is such disdain for godmen part of so-called modernists’ disdain for Hinduism? Would people advocating such down-to-earth treatment for Hindu holy men still stick to terra firma when it comes to holy men of minority religions? Isn’t this all part of a larger anti-Hindu conspiracy? This version of offence-is-thebest-form-of-defence has already been launched on behalf of Asaram, with the BJP chipping in with vigour. It belittles Hinduism as a belief system incompatible with democracy and equality before the law.

In reality, Hinduism provides scope for Asarams to exist only because it affords endless flexibility in how people find their spiritual equilibrium. A rigorous articulation of Hindutva’s core concept of advaita (non-duality) would leave no place for gods and goddesses, leave alone for the garden variety of godmen with base instincts.

Tattvamasi (that thou art) was Sankara’s famous reply to someone who asked him to explain the concept of AtmanAtman is not just the ultimate reality but also the only reality. Everything living and lifeless is some or the other manifestation ofAtman.

Things that seem different are the same in their essence. Their difference is illusion. Inability to see the underlying unity of all things is ignorance, delusion. The point of enlightenment is to realise this.

Hinduism is perhaps the only religion to posit the non-duality of what are  commonly perceived as the creator and the created. Such negation of distinction between the creator and the created, and among the myriad bits of the created, opens up radical possibilities.

Kerala’s social reformer Sri Narayana Guru drew on advaita to assert the illegitimacy and invalidity of caste. When all men, apart from all other things, are manifestations of the selfsame Atman, how can some men be inferior, even untouchable?

Radical Hinduism

Apart from being incompatible with the caste system, advaita has other potential disadvantages. Those who appreciate the underlying unity of all things also appreciate that all ethics and morality are social constructs and not divine ordination. Just look at what a high concentration of amoral people has done to global finance to see how dangerous it could be for the world to be full of enlightened ones who are above morality.

Privilege Progress

So while Hinduism counts enlightened knowledge as one route to salvation, it quite practically rules it out for the majority, who are left to contend with worldly delusion through piety, devotion, diligent discharge of duty and so on. It is this freewheeling mix of means that offers the folds and creases out of which godmen operate. The enlightened state should see them for what they are: at best like tutors for those who were remiss in the classroom, at worst exploiting the backwardness that alone makes them possible.

The job of the state is not to take backwardness for granted. To give Asarams privileged treatment is to collude in backwardness, to collude in the shooting of the boy in Uttar Pradesh. India deserves better and Indians now know this.

Monday, September 9, 2013

NEW PENSION SYSTEM

Central bank of India has entered into an agreement with PFRDA (Pension Fund Regulatory and Development Authority) for functioning as one of the PoP (Point of Presence) for their New Pension System (NPS). Our Bank has designated 1006 Branches to function as Point of Presence- Service Providers (PoP-SPs) for handling NPS accounts.

Main Features and Architecture of the New Pension Scheme

New Pension System(NPS) for all Citizens was introduced  by GOI and managed by  the Pension Fund Regulatory and Development Authority(PFRDA), the regulator of pension fund in our country,  to secure the old age income by way of giving an annuity i.e. pension, once the subscriber(s) attains the age of 60.

NPS is a voluntary scheme of Pension System of PFRDA (Pension Fund Regulatory and Development Authority) open to all citizens in the age group of 18-60 years.
  • The Scheme is operative from 01.05.2009.
  • The objective is to provide old age pension with market driven returns over long term
  • Bank's designated branches i.e. Point of Presence-Service Provider (POP-SPs) accept the application form and get the subscriber(s) registered with Central Record keeping Agency (CRA) for generation of the Permanent Retirement Account Number (PRAN). 
  • The PRAN will be quoted in all future transactions.
  • There are two types of account i.e. Tier I and Tier II
  • Tier-I account is where subscriber(s) can contribute their savings for retirement into a non-withdrawable account till they reach 60 years and draw pension for the rest of their life.
  • In case of Tier I
          1. Minimum contribution at the time of account opening -Rs.500/-
          2. Minimum amount per contribution - Rs. 500/-
          3. Minimum Account Balance at the end of FY - Rs. 6000/-
          4. Minimum number of contributions in a year - 1
  • The subscriber(s) can exit the scheme after attaining 60 years of age. He/She has to compulsorily annuitize 40% of the accumulated pension wealth. Option to annuitize 100 % of the corpus is also available. 
  • Tier-II account is a voluntary savings account form which subscriber(s) are free to withdraw their savings whenever they wish.
  • The facility of Tier II account is being offered from December 1, 2009 to all citizens of India including Government employees mandatorily covered by NPS.
  • The Tier-II would enable the existing Permanent Retirement Account (PRA) holders to build savings through investments over and above those in the Tier I pension account. An active Tier I account will be a pre-requisite for opening of a Tier II account. 
  • No additional CRA charges would be levied for account opening and annual maintenance in respect of Tier II. However, CRA will charge separately for each transaction in Tier II, the charges being identical to the transaction charge structure in Tier I
  • There are no limits on number of withdrawals in Tier II. 
  • There is facility for separate nomination and scheme preference in Tier I and Tier II.
  • There is facility of one-way transfer of savings from Tier II to Tier I.
  • Bank details will be mandatory for opening a Tier II account. 
  • No separate KYC for Tier II account opening will be required; the only requirement is a pre existing Tier I account. 
  • In case of Tier II,
         i) Minimum contribution at the time of account opening -Rs.1000/-
         ii) Minimum amount per contribution - Rs. 250/-
        iii) Minimum Account Balance at the end of FY-Rs. 2000/- 
        iv) Minimum number of contributions in a year - 1
  • In case of Composite Application for Tier I and Tier II both, Minimum contribution at the time of account opening is Rs. 1500/-.
  • The Subscriber(s) will be informed of the Permanent Retirement Account Number (PRAN) by theCRA. Once the CRA provides the PRAN, the subscriber(s) can start depositing his subscriptions through his chosen POP-SP. 
  • The CRA keeps a record of all subscriptions.
  • A subscriber(s) has three options for his investments(Active choice):
Ø  HIGH RISK HIGH RETURN(Asset Class E): Investments in predominantly Equity Market Instruments

Ø  MEDIUM RISK MEDIUM RETURN (Asset Class c): Investment in debt securities other than Government Securities.

Ø  LOW RISK LOW RETURN (Asset Class G): Investments in Government Securities.
  • A subscriber(s) opting for Active choice may select the available asset classes "E", "G", & "C".However the sum of percentage allocation across all the selected asset classes must equal100Allocation under Equity (E) cannot exceed 50%
  • Subscriber(s) can also opt for Auto choice* -lifecycle Fund who do not have the required knowledge to manage their NPS investments. With this option, the system will decide on a mix of investments among the three asset classes, based on the age of the investor. In this option, the investments will be made in a life cycle fund. Here, the percentage of funds invested across three asset classes will be determined by a pre defined portfolio. At the lowest age of entry (18 years), the auto choice will entail investment of 50% of pension wealth in "E" Class, 30% in "C" Class and 20% in "G" Class. These ratios of investment will remain fixed for all contributions until the participant reaches the age of 36. From age 36 onwards, the weight in "E" and "C" asset class will decrease annually and the weight in "G" class will increase annually till it reaches 10% in "E",10% in "C" and 80% in "G" class at age 55.



Table for Lifecycle Fund

Age
Asset Class E
Asset Class C
Asset Class G
Up to 35 years
50%
30%
20%
36 Years
48%
29%
23%
37 Years
46%
28%
26%
38 Years
44%
27%
29%
39 Years
42%
26%
32%
40 Years
40%
25%
35%
41 Years
38%
24%
38%
42 Years
36%
23%
41%
43 Years
34%
22%
44%
44 Years
32%
21%
47%
45 Years
30%
20%
50%
46 Years
28%
19%
53%
47 Years
26%
18%
56%
48 Years
24%
17%
59%
49 Years
22%
16%
62%
50 Years
20%
15%
65%
51 Years
18%
14%
68%
52 Years
16%
13%
71%
53 Years
14%
12%
74%
54 Years
12%
11%
77%
55 Years and above
10%
10%
80%
In case of Auto Choice, reallocation among the asset classes shall take place based on the date of birth of the subscriber(s).

  • Net Asset Value (NAV) will be released on a regular basis so that subscriber(s) may be able to take informed decisions.

Neither the Active Choice nor the Auto Choice provides assured returns.
  • The 06 PFMs are:
1.    ICICI Prudentitial Pension Funds Management Company Limited
2.    IDFC Pension Fund Management Company Limited
3.    Kotak Mahindra Pension Fund Limited
4.    Reliance Capital Pension Fund Limited
5.    SBI Pension Fund Private Limited
6.    UTI Retirement Solutions Limited

 Swavalamban Scheme benefits for NPS Account Holders:
National pension Scheme was made attractive by "Swavalamban Yojana" for those who are not working in organized sector.  This scheme is applicable to all citizens of India who are in the unorganized sector & meet the eligibility criteria. Under this scheme, the Central Government will contribute Rs. 1000 per year to each NPS account opened in the year 2010-2011 and for the next 3 years 2011-12, 2012-13 and 2013-14. To benefit the citizens who opened their accounts in 2009-10, the Government has declared that, they will also be entitled to the benefit of the Swavalamban scheme, that is if they meet the eligibility criteria. 
To know more or to open an NPS account, please walk into any of the designated branches. If you have any queries, please write to us at:-
Assistant General Manager
Government Business Department
Central Office, MMO Building
2nd Floor, M G Road, Fort
Mumbai-400023
email:agmgovtbusi@centralbank.co.in Fax: 022-22621712 or call at 18002001911(TOLL FREE).
You may also access the details of the scheme at http://www.pfrda.org.in orhttp://www.npscra@nsdl.co.in

 Most Important Terms & Conditions(MITC)

1.    The New Pension System (NPS) is a scheme run by the Government of India and our Bank is one of the agents authorized to accept contribution and assist in opening accounts. THE RETURNS IN THIS SCHEME ARE ENTIRELY MARKET DRIVEN.

2.    For NPS account opening, subscriber(S) should be in the age group of 18-60 years. 

3.    As per KYC norms Photo Id proof, Date of birth proof and Address proof are required to be submitted along with application form

4.    In case of Tier I:
I)            Minimum contribution at the time of account opening -Rs.500/-
II)         Minimum amount per contribution - Rs. 500/-
III)       Minimum Account Balance at the end of FY - Rs. 6000/-
IV)        Minimum number of contributions in a year - 1

5.    In case of Tier II:
I)            Minimum contribution at the time of account opening -Rs.1000/-
II)         Minimum amount per contribution - Rs. 250/-
III)       Minimum Account Balance at the end of FY-Rs. 2000/-
IV)        Minimum number of contributions in a year - 1

6.    An active Tier I account will be a pre-requisite for activation of a Tier II account.
7.    In case of Composite Application for Tier I and Tier II both,
    Minimum contribution at the time of account opening is Rs.
    1500/-.
8.    In case of Tier II or Composite application, a cancelled
    cheque is also required to be submitted along with the
    application form.

9.    Following costs are to be borne by the Subscriber(s) at the time of registration and/or performing any transaction. The contribution will be remitted, net of bank charges.

  • An Initial subscriber(s) registration charge of Rs.100/- and an ad valorem transaction charge of 0.25% of the initial contribution amount from Subscriber(s) subject to a minimum of Rs.20 and a maximum of Rs. 25,000/-. Plus applicable service tax.
  • Any subsequent transaction involving contribution upload - 0.25% of the amount subscribed by the NPS subscriber(s), subject to minimum of Rs.20/- and a maximum of Rs. 25000/-. Plus applicable service tax.
  • Any other transaction not involving a contribution from subscriber(s) - Rs 20/- Plus applicable service tax.

10. Subscriber(s) can register only through Bank's designated branches i.e. Point of Presence-Service Provider (POP-SP). 

11. Exit from New pension System (NPS):-
  • At any point in time before 60 years of age: Subscriber(s) would be required to invest at least 80% of the pension wealth to purchase a life  time annuity from any IRDA - regulated life insurance company. Rest 20% of the pension wealth may be withdrawn as lump sum.
  • On attaining the Age of 60 years and up to 70 years of age: At exit subscriber(s) would be required to invest minimum 40% of their accumulated savings (pension wealth) to purchase a life time annuity from any IRDA-regulated life insurance company. Subscriber(s) may choose to purchase an annuity for an amount greater than 40%. The remaining pension wealth can either be withdrawn in a lump sum  or in a phased manner, between age 60 and 70, at the option of the subscriber(s).
  • Death due to any cause: In such an unfortunate event, option is available to the nominee to receive 100% of the NPS pension wealth in lump sum. However, if the nominee wishes to continue with the NPS, he/she shall have to subscribe to NPS individually after following due KYC procedure.