Thursday, January 29, 2015

US President Barack Obama’s visit to India
 Key Announcements

"Chalein saath saath; forward together we go”. Reflecting the close ties between the two great democracies, India and the United States agree to elevate our long-standing strategic partnership, with a   Declaration of Friendship that strengthens and expands the relationship between the two countries

The Hon’ble President of the United States of America, Mr. Barack Obama and the First Lady Michelle Obama marked a three days historic visit to India (25th -27th  January 2015) to grace the India’s 66thRepublic Day as the Chief Guest.  Mr. Obama is the first U.S. President to have been invited as the Chief Guest for India’s Republic Day in addition to being welcomed by a Guard of Honour.  During his visit, the President attended the event with his wife; made crucial talks with hon’able Prime Minister of India Shri Narendra Modi at Hyderabad House; addressed the India-US CEO Forum; delivered a national address to students and shared his thoughts together with Shri Narendra Modi on Mann Ki Baat. During this visit, the two leaders assessed the extensive bilateral strategic and global partnership between their two countries and pledged to continue to enhance cooperation across the spectrum of human endeavour to better their citizens’ lives and that of the global community.

A brief details of the key developments during three days’ visit of President Obama in India is stated here below:


1. “Indo-US Civil Nuclear Deal”

India and the United States achieved a landmark break-through on operationalisation of the civil nuclear deal. This is one of the most important decisions taken as it broke the deadlock on Civil Nuclear deals, which was stuck since last decade between the two nations. India agreed to amend few of it’s clauses related with Insurance, and in return US pledged to make it go live. India has created an Insurance pool worth Rs 750 crore led by General Insurance, and contributed another Rs 750 crore to make the insurance regulations stronger. The finalization of nuclear deal between the two nations would pave the way for stalled nuclear projects in the coming times.

2. “Renewal of Defense Pact”

Under the purview of deepening defence and security cooperation, the two leaders principally agreed to renew the ‘New Framework for India-US Defense Relationship’ for another 10 years, wherein co-development and coproduction of specific advanced defence projects would be pursued. This would enhance the joint production of defence equipements in India and bolster the India’s defence industrial base. In addition both leaders had expressed their mutual interest in exploring cooperation in other areas of advanced defense technologies and maritime security.

3. “Climate Change”

The two leaders agreed to a number of important steps to promote clean energy and confront climate change.  President Obama offered to support financially India's ambitious target of solar energy and sought PM Modi's support at global climate talks in Paris later this year.  India is seeking investments of US$100bn over 7-years period to boost the country’s solar energy capacity by 33 times to 100,000 megawatts. In addition, the two leaders have agreed to work together and combat climate change by cooperating to reduce air pollution in Indian cities and increase finance and technology for India's renewable energy target. 

4. “Economic Ties”

The two nations have agreed to resume dialogue on Bilateral Investment Treaty (BIT) which aims to protect private investment, to develop market-oriented policies in partner countries, and to promote domestic exports. Presently, the bilateral trade between the two nations is around US$62bn and is expected to grow beyond US$100bn by 2018. In addition, the two sides agreed to resume talks on Totalization Agreement that will help Indian workers in the US get annual refunds of around US$3bn worth of social security contributions they make.

5. “New Initiatives of US$4billion”

 During the CEO Forum, President Obama announced the US$4bn investment in India including US$1bn for financing exports from US to aid Make-in-India programme, US$1bn for small and medium industries and US$2bn in renewable energy projects. US Government’s business development and finance arm: U.S. Overseas Private Investment Corporation (OPIC) will give an assistance of US$1 billion for Micro-SMEs and SMEs from rural and urban India. This decision was made to encourage entrepreneurship and business, along with technological assistance. U.S. Export-Import Bank will provide an assistance of $1 billion for Make in India campaign launched by PM Modi, which will help made in India products to be exported to US and increasing trade relations in this sector. US Trade & Development Agency will pitch in with US$2 billion investments in the renewable energy sector in India, which includes Solar Power and Wind Energy to help India solve its energy crisis, and to bring down costs related with power production using traditional means.

6. “Intellectual Property Rights & Tax Regime”

President Obama expressed concerns over issues pertaining to Intellectual Property Right (IPR) and unstable tax regime in India. PM Modi promised to upgrade the laws related with IP protection, an open business environment and predictable tax regime so as to boost Indo-US trade relations.

7. “Trade Ties”

The leaders of the two nations said that they will establish several bilateral mechanisms to identify opportunities to boost business, trade and investment ties. The two economies have targeted to increase the Indo-US bilateral annual trade to US$500bn by 2025.

8. “Smart Cities”

US has lended its support to India for development of smart cities whereby the United States Trade and Development Agency (USTDA) signed 3 Memorandums of Understanding (MoUs) on Cooperation to Support the Development of Smart Cities in Uttar Pradesh , Rajasthan and Andhra Pradesh with respective state governments. The USTDA will contribute funds for feasibility studies and pilot projects study tours, workshops or trainings and other projects which would be determined mutually.

9. “Asia-Pacific and Indian Ocean Region”

The two leaders also agreed to a new vision for the Asia pacific so as to do more together to advance shared security and prosperity in this critical region. To support regional economic integration, India and US have agreed to promote accelerated infrastructure connectivity and economic development in a manner that links South, Southeast and Central Asia, including by enhancing energy transmission and encouraging free trade and greater people-to-people linkages.

10. “US India Strategic and Commercial Dialogue”

A high level US India Strategic and Commercial Dialogue has been created which will help break the red-tape logjams in India. This high level committee will ensure that all Indo-US trade decisions and investment plans are accomplished fast track, and there are no delays.

Skilling India for global competitiveness


Thursday, January 29

Sensing the mood of the people of Delhi in favour of the Aam Aadmi Party, more and more political activists are leaving their respective parties to come into the AAP fold.

On Thursday, sitting independent MCD councillor from ward 142 Poonam Bhardwaj (Bijwasan) and Congress leader Sanjay Puri (Janakpuri) were among those joined the AAP.

The Bahujan Samaj Party candidate from Bijwasan assembly constituency in 2013 elections Narender Jat Rana and Samajwadi Party candidate from the same constituency, Surinder Bhardwaj also joined the AAP in presence of party leader Sanjay Singh.

BJP leaders from Bijwasan – Rajesh Kaushik, Usha Malik and Virender Yadav also joined the AAP.
Along with Sanjay Puri, a large number of Congress workers from Janakapuri reached the AAP office to take the pledge for being a part of honest politics.

Puri announced he had withdrawn as an independent candidate from Janakapuri in favour of the AAP candidate, Rajesh Rishi.

Speaking on the occasion, AAP leader Sanjay Singh said honest political activists who are feeling suffocated in their respective political parties and want to become a part of the campaign for a better Delhi, should come forward to  Sanjay Singh.

He said the BJP and Congress were indulging in negative politics since they are unable to counter the AAP agenda for Delhi.          

Modi wearing Rs 10 lakh suit, but where is 15 lakh that was promised: Rahul Gandhi

New BJP strategy, asks 5 questions to Kejriwal

On Arvind Kejriwal in a TV interview explains why Kiran Bedi is merely a scapegoat in the Delhi elections.
"No one in the BJP is ready to take the blame for a humiliating loss, so an outsider has been brought in."
All factions in BJP are working to embarrass Ms Bedi, while Delhi's voter is working to bring an AAP government to power.

New BJP strategy, asks 5 questions to Kejriwal
1. Why tie up with Congress when you said earlier that you won't?
2. Why no case against Sheila Dikshit after coming to power?
3. Why the U-turn on Z-grade security after becoming CM?
4. Why did Kejriwal order SUVs for his ministers?
5. Why did Kejriwal travel in chartered flight when he was CM?

The book “Mahatmano Aatma” (મહાત્માનો આત્મા) by Dr. Rizwan Kadri


On Friday January 30, 2015 the tallest surviving Gandhiyan Narayan Desai will release collection of unpublished  memoirs of Mahatma Gandhi on Mahadev Desai , his personal secretary. The book “Mahatmano Aatma” (મહાત્માનો આત્મા) by Dr. Rizwan Kadri will be released by Narayanbhai at 11.00 am sharp at Mahavir Trauma Hospital, Athwa Lines, Surat.

Dr. Rizwan Kadri

Co-pilot flying AirAsia jet before crash 

The French first officer of an AirAsia passenger jet that crashed into the sea last month was at the controls just prior to the accident, Reuters quoted Indonesia’s lead investigator as saying on Thursday. “The co-pilot, who usually sits to the right of the cockpit. At the time, he was flying the plane,” said head National Transport Safety Committee (NTSC) investigator Mardjono Siswosuwarno, referring to First Officer Remi Plesel. “The captain, sitting to the left, was the pilot monitoring.” Captain Iriyanto, 53, was believed to have taken over control of the aircraft from Plesel when it started to ascend and then descend sharply.


Image result for uk jet fighters
Two Russian Bear long-range bombers flying close to UK airspace were intercepted by RAF Typhoon fighter jets, according to Britain's Ministry of Defence (MoD).
The Typhoons were scrambled from bases at Lossiemouth in Scotland and Coningsby in eastern England on Wednesday after the Russian bombers were detected flying over the Channel to the south of the UK, the MoD said.

"The Russian planes were escorted by the RAF until they were out of the UK area of interest,” the ministry’s Thursday statement said, Reuters reported. “At no time did the Russian military aircraft cross into UK sovereign airspace."

NATO nations have been worried by Moscow having increased its air patrols near their borders. There were 100 intercepts of Russian aircraft in 2014 - three times as many as 2013 - according to British Defense Secretary Michael Fallon. 
It has been acknowledged, though, that Russia’s military flights were strictly in international airspace.

Russia’s Defense Ministry earlier stressed that “all of the Russia air force flights have been carried out in strict compliance with the international rules on flights in the airspace above neutral waters, without violating other countries’ borders.”

Moscow explains the increase in air patrols near the borders of the NATO members as a response to the alliance beefing up its European presence in the wake of the Ukraine crisis. Russia’s Defense Ministry announced in November it was expanding its patrol missions of long-range aircraft to cover the Gulf of Mexico. 

In the current situation we have to maintain military presence in the western Atlantic and eastern Pacific, as well as the Caribbean and the Gulf of Mexico,” Defense Minister Sergey Shoigu said. 

                                                                                        (Rs. in Crore)

% Growth (YoY)
Business Mix
Total Deposits
Total Advances
Core Deposits
Retail Term Deposits
(less than Rs.1 Cr)
CASA Deposits
Retail Advances
Housing Loan
Business per Employee
Book Value per Share (in Rs.)
Cost of Deposits (%) - Q3
-16 bps
Cost to Income Ratio (%) - Q3
-145 bps

                                                     (Rs. in Crore)

% Growth (YoY)
Total Income
Non Interest Income
Operating Profit

v During Q3, 8.87 Lac New CASA accounts were opened by the Bank.
v  Net Interest Margin (NIM) stood at 2.69% (Q3).

v  Capital Adequacy of the Bank under BASEL III: 11.26% (Tier I: 8.54%,                       Tier II: 2.72%)

v The Bank is in the process of raising Unsecured Non-Convertible Basel III Compliant Perpetual Debt Instruments in the nature of Debentures for inclusion in Additional Tier I Capital aggregating Rs. 500 crore. The Issue opened on 23.01.2015 and will close on 06.02.2015 and the deemed date of allotment is 10.02.2015. If we consider the amount of additional Tier-I capital to be raised, then our CRAR will further improve to 11.58%                 (Tier I: 8.86%, Tier II: 2.72%)

                                                       (Rs. in Crore)

% Growth (YoY)
Total Priority Sector Advances
Total Agriculture Advances
Micro & Small Enterprises
Weaker Section
Minority Community

Ø  Total Recovery including Upgradation during the Nine Months ended                       31st Dec, 2014 was Rs.1,576.48 crore compared to Rs.1,259.94 crore in corresponding Nine Months of previous financial year.
Ø  Gross NPA ratio at 5.43% and Net NPA ratio at 3.68%.
Ø  Provision Coverage Ratio stood at 57.39%.

The Bank is implementing the Pradhan Mantri Jan-Dhan Yojana (PMJDY) in a mission mode.  The progress under the scheme is as under:
Ø  No. of Accounts Opened : 20.55 Lac
Ø  No. of RuPay Cards Issued : 19.82 Lac
Ø  Amount of Deposit in above Accounts: Rs.867 crore

v During the Nine Months ended 31st Dec, 2014, 74 New Branches were opened & 333 New ATMs were installed. The Total Delivery Channels of the Bank as on 31st Dec, 2014, stood at 4661 (2200 Branches and 2461 ATMs).

v  The Customer Base of the Bank stands increased to 24.78 million.

v During the Nine Months ended Dec, 2014 Bank recruited 1407 personnel including 530 Officers & 856 Clerks.

Ø  Festival offer on Home & Car Loans launched with 100% waiver in process fee has been now extended till 31st March, 2015.
Ø  To boost the Home Loan portfolio, a HOME LOAN POINT has been made functional at B/O New Railway Road, Gurgaon.
Ø  Bank has introduced state Govt. tax, VAT etc collection modules for the state of Odisha. These facilities are also available for states of Delhi, Maharashtra,                 Tamil Nadu, Andhra Pradesh, Rajasthan & West Bengal through Net Banking.

Ø  Swachch Bharat Abhiyan: The Bank has earmarked an amount of Rs. 2.00 crore for constructing toilets in various Govt. schools. The Bank has taken up the Project of Swachch Bharat through its own Regional Offices across the country. The construction is being done in Pan India level on Priority and as focused CSR activity, leading towards the dream of a “Clean and Safe” India. Presently Bank has constructed Toilets in 164 Government schools across the country. The entire project as proposed by our Bank is likely to be completed by 31-03-2015.
Ø  St. Michael's Hostel, Jangpura, New Delhi: The Bank adopted 10 poor & needy Girl Children of St. Michael's Hostel, Jangpura, New Delhi for fulfilling their educational, medical and other needs.
Ø  CSR Activity at Benti Village, Lucknow : The Bank awarded scholarships to                20 children of the village, provided benches to Government Schools and constructed/repaired toilets of primary schools of that village. This village has been adopted by Hon’ble Home Minister, Govt. of India under Saansad Adarsh Gram Yojana.

Place  : Gurgaon
Date   : 29.01.2015

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