Postal Regn. No. : Date of Publication :L II / RNP/HD/1145/2014-16, Dated 24.09.2013 | 7th June, 2015

RNI Regn. No. : Date of Posting :AP ENG/2011/38018, Dated 24-06-2011 | 9th June, 2015

HAMARA PRAYASHAMARA PRAYASHAMARA PRAYASHAMARA PRAYASTHEMONTHLYTABLOIDOFA.P.MAHESHCO-OPERATIVEURBANBANKLTD.

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Editor : Associate Editors : Ranjana Sharma | K. Kishore Kumar, Praveen Kumar, A. V. Rama Rao

“Consumption of food, taking rest, undergoing fear and leading family life are common among human beings and animals; Dharma or discrimination of bad and good separates human race from the other animal kingdom. If Dharma is absent in a man, he is tantamount to any other animal”, says Chanakya.

Animals have no moral issues as their discrimination is purely born out of their instincts. When it comes to killing for food, or mating or protecting their younger ones, there are no moral issues in the animal kingdom. Similarly, even we, humans, as chi ldren, never understood the concept of good and bad. Our experiences parent us. All of us are bound by our instincts, which are to avoid pain and embrace pleasure. A man is no different from an animal in this aspect.

However, man is a thinking animal and a

thinking animal is very dangerous. So the wise men who walked this planet before you and me, to ensure that man directs his thinking towards creative endeavours and not towards devastation and destruction, built a constitution of right and wrong and expected man to abide by it, which we call morality.

The man from the Stone Age could overpower you, and your property would become his possession; but in a civilised world it is considered morally wrong. However, the fact remains, though man is expected to be morally abiding, he has not truly outgrown his instincts. He is still drawn by the pleasure of other people’s wealth and is still a victim to the pleasure of temptations of another man’s property. A part of every man is still an animal. There is a constant war between the animal within him and the man in him; a war between instincts and conscience.

The irony is, instincts have been groomed by man’s own experiences, whereas his conscience has only been borrowed and inheri ted from others . Any day, experiential knowledge is more potent; and here, more often than not, the animal within triumphs over the man. This split

between his instincts- the sense of pain and pleasure, and his conscience- the sense of right and wrong, is what we call character loss. Sin is defined as the split between one’s instincts and his conscience. That is why eating non-vegetarian food is not a character loss for one religious follower as his religious and personal constitution does not consider it wrong; but the same act would be considered a loss in character if you are from the Jain community. If there is a split, it is a sin. It is called a sin because he is now like a cart that is being pulled in two different directions.

A person of character is one who is living his life without a split. He has nothing to hide. He abstains from actions that have to be hidden from others. He is not someone who thinks, ‘Will I be caught or not?’ He is someone who thinks, ‘Is it right or wrong?’

A life beyond a split is a lifelong quest. It is not something that man can believe he has arrived at….. he keeps arriving…. It takes just a moment to slip but a lifetime of resolve to hold on. You have to keep holding on.

POWEROFDISCRIMINATION

Good words are worth much and cost little – Ramesh Kumar Bung010101

PURSHOTAMDAS MANDHANA

From the From the From the Chairman’s DeskChairman’s DeskChairman’s Desk

From the From the From the Chairman’s DeskChairman’s DeskChairman’s Desk

Change will not come if we wait for some other person or some other time – Barak Obama020202

RENEWED PERCEPTIONS OF LIFE

“You cannot step into the same river twice”, said Heraclitus, a Greek Philosopher in 500 B.C. If you step into a river and get out and then step back into it again, a huge amount of water would have flowed by in the mean time. So it is not the same river anymore. Rich with the experience of having taken bath in the river, you are not the same person anymore. Dipping into the river is no more a virgin experience to you. That is why each moment is so unique and incomparable. It has never been before and it will never be again. Life never repeats. Life is a never ending constant renewal and so should be your perception of it too.

Everything flows and nothing stops. Remember, only the appearance remains the same. Otherwise, everything changes and flows. The Ganges in the morning, in the afternoon and in the evening appears to be the same Ganges, but it is not. It is constantly flowing. If is so with the river, what to say of people?

In a constantly changing world, one wants to cling on to his perceptions permanently and that is the more certain way to create one’s own hell. Living life with a constant renewal of perceptions is to design one’s own heaven.

The seed has already sprouted but you are still looking for the seed. The child has grown into a man but you are still advising the same old child. The follower has

matured into a leader but your perception of him has not. Life is a continuous rebirth. To keep pace with this ever-changing reality, our perceptions too need a continuous rebirth. Liberated living comes from liberating oneself from past perception.

Perceive everything in life as if you are encountering it for the first time. When you meet your friends next time, do not see him as if you already know him, but experience him like you are meeting him for the first time. When the child returns from school, recognise the fact that she has grown through the day. When your disciple returns to you, respect the fact that he has implemented the knowledge you gave him and he has returned with experiential wisdom. Today is a new sunrise… yesterday was over yesterday. Now is just now….

We have missed Christ, Veda Vyasa and Prophet when they were around because our perceptions could not catch up with them. It has taken us centuries to catch up with them. We seem to always miss all the living masters and prophets when they are around and then spend lifetime catching up after they have gone. If we constantly renew our perceptions, we would never ever miss an opportunity to experience the walking masters.

RAMESH KUMAR BUNGSenior Vice Chairman

The time to correct a mistake The time to correct a mistake is never during the mistake.is never during the mistake.

RAMESH KUMAR BUNG RAMESH KUMAR BUNG

The time to correct a mistake is never during the mistake.

RAMESH KUMAR BUNG

RBI TO SET UP CENTRAL FRAUD REGISTRYMindful of the impact of frauds on banks’ financials, the Reserve Bank of India will soon set up a Central Fraud Registry as part of an early warning system. The idea is to set up a structure for quick sharing of information about unscrupulous borrowers and help banks fight bad loans. The Registry will work under the supervision of the RBI. Currently, there is no single database that lenders can access for all relevant details of previously reported frauds. The structure will make available more information to banks at the time of starting a banking relationship, extension of credit faculties or at any time during operation of an account. For instance, at the time of sanctioning a loan, banks can make use of the registry by checking the credentials of a borrower. For good measure, the CBI and the Central Economic Intelligence Bureau (CEIB) have shown interest in sharing their database with banks which in turn can be fed into this

centralised searchable database that can be accessed by banks. As per RBI data, gross NPAs of PSU Banks stood at ` 2, 60, 531 crores as of December 2014. And the top 30 defaulters are sitting on bad loans amounting to a huge ̀ 95, 122 crore, which is more than one-third of the entire NPAs of Public Sector Banks. The total number of borrowers having defaulted on ̀ 10 Crore and above at the end of September 2014 read 2897 with an outstanding of ` 1.60 lakh crore. The RBI has issued necessary instructions, including those on creating a framework for revitalising distress assets, to improve asset quality of banks and prevent slippages. The law stipulates that each bank should have a board - approved loan recovery policy. It has also been mandated that NPA accounts of ` 1 crore and above need to be vetted by the board.

Nothing in life is to be feared, it is only to be understood - Ramesh Kumar Bung030303

MD & CEO SPEAKSMD & CEO SPEAKSMD & CEO SPEAKSMD & CEO SPEAKS

a man can stretch but the scope to expand

systems is limitless.

The prime responsibility of every business

head and the department heads within the

organisation is to create systems, which

would make at least a part of you

dispensable.

In the early stages of one’s work life, success

is defined by the ability to produce eight

hours of productivity by working for eight

hours. As you grow, you should be able to

work for eight hours and produce eighty

hours of productivity. That is, now you have

evolved a system through which you are able

to produce eight hours of productivity from

ten different people. Then it has to evolve to

eight hundred hours of productivity and so

on. This in essence is the growth of a

leader from being a manager.

The fundamental key to building an

organisation is a shift that is needed in the

attitude of the head of the office. People are

sentimental about their organisation and

their position. They do not want anybody to

take their position and in the process, they

cannot leave it either. The law of life is very

simple. Anything you wish to transcend in

life you must be willing to lose it.

Let us be very clear that the ultimate

objective of building the organisation is to

PHENOMENAL GROWTHMy Dear Colleagues,

In most businesses, the captain of the trade

is doing the same work in the same style as

he was doing it a decade ago. Little do they

realise that if they keep doing the same

thing, then they will keep getting the same

results. In many of the family businesses,

from the grandfather to father and from dad

to son, the style of working gets transferred.

We know of businesses where the third

generation in continuity is doing the same

style of work, but insanely expecting new

results. In spite of enormous potential and

expertise, these businesses remain mere

merchandise and never evolve into an

organisation. Is there a difference?

A person runs a business. Systems and

people within those systems run an

organisation. A business is managed while

an organisation is led. In business that one

man remains the strength and weakness of

the business. If it is an organisation, the

weaknesses in the system can be eliminated;

strength and efficiency could be added to the

system and most importantly more and more

competent people can be added into the

organisation to work within the system.

Businesses are constrained by the

physical limitations of the persons

w h e r e a s s y s t e m s h a v e n o s u c h

impediments. There is a limit to how much

ensure maximum growth in maximum

possible ways. Do not get too attached to

your methodology of working and lose sight

of your vision. Please do not be a bottleneck

to your own vision. Everybody cannot have a

vision with a sense of grandeur, which you

have. There are enough people who can work

and let them work through your system

towards your vision.

Are you ready to make a part of yourself in

your work dispensable? Are you ready to

unite more hands and more intelligence to

work on your objectives? Are you willing to

adhere to the systems and make yourself

accountable to it? Are you ready for

expansion? Are you willing to move from

being manager to being a leader? Are you

willing to evolve your unit into an organised

organisation? If so, in the editions to come,

this will be your column.

The epitaph of Andrew Carnegie who had

millionaires working for him 100 years ago

reads: ‘Here lies a man who knew how to

enlist in his service better men than

himself’. This is the art of leadership at its

best.

What shall your epitaph be?

Cordially Yours,

UMESH CHAND ASAWA

will change the thinking of a person, and

that change can be permanent. So, keep

explaining the value of time, the value of

punctuality, the value of discipline. And

remember, the time to correct a mistake

is never during the mistake. You will

only get self-satisfaction in return.

Education is best delivered when people

are not expecting it. The sculptor never

knows after which strike the stone will

chip off, but it will eventually. Which

sentence o f yours s t r ikes tha t

transformation no one knows; but it

will, eventually.

V. S. SARMAGeneral Manager

You expect punctuality from everybody

in your office, which is not happening.

You are totally upset. Of late, you take

out your anger on people who report to

you. Transformation of actions can be

instantaneous, but transformation of

character takes time. To achieve

character change even in one individual

takes time, but here you are attempting

to achieve a collective transformation. It

takes time, but it can be achieved. You

need to show a lot of character to

achieve this character change in others.

Anger can only change the actions of a

person, and these changes are always

temporary. Persistent communication

VALUE OF PUNCTUALITYVALUE OF PUNCTUALITYVALUE OF PUNCTUALITY

When you accept yourself as you are

But expect the world to change, you

can only say,

‘Life is beautiful because of the world’.

When you accept the world as it is

But you are willing to change,

You will be able to say,

‘Life is beautiful in spite of the world’.

When U (you) turn, your life will turn.

RAMESH KUMAR BUNG

Ramanujam shines as a star of the 20th

Century’s Mathematical Genius. He is

considered to be a phenomenon in the

modern mathematical world. He was born at

Kumbhakonam in Tamilnadu on 22.12.1887

and was working as a clerk in Madras Port

Trust. He had immense interest in

Mathematics right from his childhood days

and was rather crazy about it. His teacher,

his friend, his God and his playmate was

Maths.

In the year 1911, he had written an article on

‘Bernoulli Number’ in the magazine called

‘The Journal of Indian Mathematical

Society’. In the year 1913, he had even

obtained research fellowship from the

Madras University. In 1917, Professor Hardy

of Cambridge University invited Ramanujam

to England to undertake further research in

Mathematics. Ramanujam had postulated

many Mathematical pr inciples and

theorems on the numbers and their

permutations and combinations. Any

number can be split into various patterns of

numbers using his formulae.

His ill health forced him to return to India.

SRINIVASA RAMANUJAM

To improve is to change; to be perfect is to change often - Ramesh Kumar Bung040404

He was the first Indian to obtain fellowship

of Trinity College. He had been nominated to

the membership of Royal Society of

England. Today, Tata Foundation had

brought out Ramanujam’s Mathematical

theorems in the form of a book. This book is

considered to be one of the important books

in Mathematical domain.

During 1920, Professor Hardy came all the

way to India to visit the ailing Ramanujam.

Professor Hardy casually told Ramanujam

about the taxi number ‘1729’, in which he

travelled. In spite of his serious illness,

Ramanujam immediately responded by

saying that 1729 is a peculiar number,

which can be split into cubes of two numbers

in two ways: 1729 = (1)3 + (12)3 and (9)3

+ (10)3. Hardy was struck with wonder at

Ramanujam’s genius. In Hardy's words:

‘I remember once going to see him when he

was ill at Putney. I had ridden in taxi cab

number 1729 and remarked that the number

seemed to me rather a dull one, and that I

hoped it was not an Unfavourable omen.

'No', he replied, 'it is a very interesting

number; it is the smallest number

expressible as the sum of two cubes in two

different ways.’ Further, without disturbing

the serial order of 1729, by using different

symbols, Ramanujam derived answers from

1 to 10.

1+7+2-9 = 01

1+ (7+2) / 9 = 02

-1-7+2+9 = 03

-1 (7)+2+9 = 04

1-7+2+9 = 05

17-2-9 = 06

(1+7) x 2 -9 = 07

(1)7 -2+9 = 08

(1)72 x 9 = 09

17+2-9 = 10

This is his commitment and hold over

mathematics.

Ramanujam died on 26th April, 1920 in

Chennai at the early age of 33.

G. Amarnath

HO : PDS

Find a work that gives you the inner expression. You will find happiness in it.

Make the world recognise the value add through your work. You will find success in it.

Use your success to serve the world. You will find purpose in it.

And, when your work gives you happiness, success and purpose

You will find bliss in it.

UMESH CHAND ASAWA

DO YOUDO YOUDO YOU

KNOWKNOWKNOW???DO YOUDO YOUDO YOU

KNOWKNOWKNOW???DO YOU

KNOW?1. The raindrop will hit us with a speed of 18 miles per hour.

2. We have more neurons in our brain which are more than the stars in a galaxy.

3. Presently, we have profiles of deceased people to the tune of 3.30 crores. This is more than the

population of Australia.

4. 11% of the world’s gold is in the possession of Indian women.

5. The great musician Beethoven was deaf. He used to play piano keeping it on floor and used to

create music from its resounds.

6. If you do not shave during your lifetime, your beard will grow up to 27.5 feet.

7. In 1896, there was a battle between Zanzibar and England. It was concluded in 38 minutes as

Zanzibar surrendered to England.

8. During the past 3500 years, only 230 years were peaceful without any wars in the world.

9. A man speaks over telephone for an average period of two years in his lifetime.

Yesterday is not ours to recover, but tomorrow is ours to win - Ramesh Kumar Bung050505

Sri Subhash Chandra Baheria, M.P.

Sri Subhash Chandra Baheria, Member of Parliament, Bhilwara

constituency visited Head Office of the Bank on Mahesh Navami, the

27th May, 2015 on his visit to Hyderabad. A meeting was convened on

this occasion. Sri Purshotamdas Mandhana, Chairman, Sri Ramesh

Kumar Bung, Senior Vice Chairman, Sri Rampal Attal, Vice Chairman,

Sri Umesh Chand Asawa, MD & CEO, Sri V.S. Sarma, General Manager

and other senior officials were present at the meet. Sri Ramesh Kumar

Bung, Senior Vice Chairman has felicitated the honourable M.P. in a

traditional manner.

Sri Ramesh Kumar Bung informed the house that the Bank is going to

open its branch in Bhilwara very soon with all modern infrastructure

and required paraphernalia. He sought blessings and cooperation from

Sri Baheria.

ADHERE TO PRINCIPLES THROUGHOUT YOUR LIFEADHERE TO PRINCIPLES THROUGHOUT YOUR LIFE

Sri Subhash Chandra Baheria said that in all fashions of life, one

should stick on to principles. It has to be remembered that one should

not harm the other even if he does not render his helping hand. The

place Bhilwara has lot of potentiality and is a good centre of business.

Many industries are going to be launched there as it is a treasure of

steel. Banks, in addition to extending economic services, should also be

engaged in social work. Sri Baheria wished that Mahesh Bank in

Bhilwara will certainly become its biggest branch.

Sri Umesh Chand Asawa narrated about the branch expansion task of

the Bank during the year. He also explained the present business status

of the Bank.

The meeting was concluded with vote of thanks.

EMPOWERING COMMUNICATIONThe power of the man is the power of his voice.

The power of his voice is expressed through

the power of his communication.

But then all of us are not necessarily

communicators. There is a lot of difference

between talking and communicating. Talking

is like scribbling whereas communication is

like writing. While talking can be purposeless,

communication has to serve a purpose.

What happens in a class when two students

talk? They are punished. Whereas when the

student knows how to communicate, he

becomes a class leader.

Good communication has three attributes:

1. What to say – Content; 2. How to say –

Emotions; 3. When to say – Timing.

‘What to say? ’ i s ‘m ind to mind ’

communication. Your communication

conveys your thoughts to others. What to say

is the content of your communication and it

has to be very clear.

‘How to say?’ is all about emotions. It is

‘heart to heart’ communication. Emotions,

which you add to your communication makes

your communication an empowering one now

it has emotional appeal.

‘When to say?’ is all about timing. The right

message in the right manner in the right time

will give you the right results.

To e n s u r e y o u r c o m m u n i c a t i o n i s

empowering, follow a few simple steps.

Primarily, there has to be poise in your action.

There has to be grace in the body language so

that people don’t deviate from the topic and

their concentration is not diverted.

Secondly, always take the centre stage.

People who operate from the centre stage,

whether it is a training session or a board

meeting or in a group discussion, always enjoy

a psychological advantage.

Thirdly, remember, leadership begins with

eyes. Eyes are very powerful. You can

communicate so many things through your

eyes. When you look into the eyes of the

audience you take your audience along with

you. They stay connected with you. And

finally, don’t talk with some object in your

hand. Leave your hands free and it will

enhance your non-verbal communication.

Technology can give you information.

Communication alone can bring about the

Transformation. Noting is more powerful

than the power of human voice.

Ranjana Sharma

Asst. General Manager

LEXICON OF BANKING

Concentrate the mind on the present moment – Lord Buddha060606

Designated: An official named for

carrying out specific duties.

Desktop: Computer screen with icons

representing folders and files that are

saved and stored in a computer.

Devalue: To reduce in value especially

currency, to reduce the value officially by

fixing a new rate of exchange against

foreign currency.

Development Expenses: Expenses

incurred for development of business or

real estate including landed property.

Development Finance: Financial

assistance given for development of

trade/land.

Development Rebate: Tax concession

given as an incentive for development of

new industries in certain designated

areas.

Devolve: To pass or fall on to another

especially L.C. or Bank Guarantee liability

falling on the issuing bank in the case of

default by the client.

Devolution: Crystallization of liability

under Bank Guarantee or Letter of Credit

which the Bank has to reimburse when

the client fails to fulfil the obligation or

meet the LC.

Dichotomy: Division into two.

Digital Signature: Authentication of

electronic messages including financial

transaction by making use of previously

arranged code consisting of digits to act

as a valid signature known only to the

sender and the receiver duly recognised

by a public authority designated by the

government for the purpose of legal

validity of the signature conveyed by

digits.

Dilution of promoter’s equity: To reduce

the shareholding by the owner by selling

the shares in the open market.

Diminishing Balance Method: 1. Loan

balance reduced as a result of repayment

received and interest being charged on the

balance outstanding, taking into account

repayments made. 2. Depreciation

charged on the book balance outstanding

after crediting depreciation every year.

Direct Cost: Cost of inputs involved

directly in production like raw material,

labour and factory expenses that can

easily be traceable.

Direct Debit: Debit to the account under

the gene ra l au tho r i t y f r om the

accountholder without requiring the

consent for individual debit.

Direct Lending: Granting loans directly

to the beneficiary.

Direct Liability: Liability under loan

availed by a person in his name for his

own benefit and not as a surety.

Centre Issues Draft For Gold Monetisation

Seeking to mobil ise gold held by

households and institutions, Central

Government on 19.05.2015 came out with

a draft scheme under which a person or

entity can earn interest by depositing the

metal with banks. As per the draft

guidelines, minimum gold deposit is

proposed at 30 grams and the interest

earned on it would be exempt from Income

Tax as well as capital gains tax. A person or

institution holding surplus gold can get it

valued from BIS – approved hallmarking

centres, open a Gold Savings Account in

Banks for a minimum period of one year

and earn interest in either cash or gold

units, the draft said. The Finance Minister

has sought comments from stakeholders

on the draft gold monetisation scheme by

June 2. The gold monetisation scheme,

which is proposed to be initially introduced

only in selected cities, was announced in

the Budget this year by Finance Minister.

‘The new scheme will allow the depositors

of gold to earn interest in their metal

account and jewellers to obtain loans in

their metal accounts. Banks / other dealers

would also be able to monetise this gold’,

the minister said.

Every role has some primary

responsibilities. How much ever we do in

other aspects if we fail to live up to the

primary responsibility of a role, then we

have let the role down.

UMESH CHAND ASAWA

The Central Government has notified June 1st, 2015 as the date from

which the Service Tax rate of 14 per cent would become applicable

from the current rate of 12 percent as per a statement released by

Ministry of Finance. The provisions levying Education Cess and

Secondary and Higher Education Cess would also cease to have effect

from same date, as the same would be subsumed in the Service Tax

rate of 14%.

SERVICE TAX WILL RISE TO 14% FROM 1ST JUNE 2015SERVICE TAX WILL RISE TO 14% FROM 1ST JUNE 2015

There is a rhythm, a pattern and a discipline

in the whole universe. Ancient Indians knew

that the rhythm is symbolised as a factor of

108 or the number. The mystic number 108

is very sacred to ancient Indians. In all

spiritual practices, 108 is given utmost

importance. There are 108 beads in a rosary

(Japa Mala) that are counted while repeating

a Mantra and the equal number of epithets

of a God or Goddess chanted during

meditation or Pooja while offering flowers.

In explaining the number of beads on a Japa

Mala, it is said that the 108 are the number

of steps a soul takes to reach the Divine.

With this sacred number appearing in so

many intersections between the Divine and

the human, it is no wonder that all Indians

including Buddhists, Jains, Sikhs and

Taoists find that offerings of 108 help us

remain in harmony with God’s perfect

universe.

In Astronomy, Vedic seers calculated that:

• The distance between the earth and

moon is 108 times the diameter of the moon.

• The distance between earth and sun is

108 times the diameter of the sun.

• The diameter of the sun is 108 times the

diameter of the earth.

These numbers are remarkably close the

calculations based on modern scientific

measurements. According to Ancient Indian

Time measure, one day of Brahma is equal

to 4320000 years covered by four Yugas,

which is a factor of 108.

Ayurveda tells us that there are 108 Marma

points (secretly hidden vital spots) in the

body, where consciousness and flesh

intersect to give life to the living beings. The

chain of 108 links is held together by 107

joints of the body. Similarly, the lines of the

mystical, mesmerizing Sri Chakra Yantra

intersect in 54 points, each with a masculine

and feminine quality, totalling 108.

Life is really simple, but we insist on making it complicated – Confucius070707

THE SIGNIFICANCE OF ‘108’

Vedic Astrology divides the cosmos into 27

moon signs, called Nakshatras, each with 4

padas, making 108 padas in all, giving 108

basic kinds of human nature. The padas

occupied by the moon at the time of birth

indicates the nature of one’s career,

pleasures, family and path to liberalisation.

In Indian Astrology, there are 12 houses and

9 planets (12x9=108). The average velocity

of the light is 186282 miles per second (total

27 is a factor of 108).

Tantra estimates the average number of

breaths per day at 21600 of which 10800 are

solar energy and 10800 are lunar energy

(108x100=10800; 2x10800=21600). The

Natya Sastra of Bharata speaks of the 108

karanas – combined movements of hand

and feet of dance.

There are 18 Puranas, 108 Upanishads, 18

Chapters in Mahabharata, 18 Chapters of

Bhagavad-Gita, 108 Slokas in Vishnu

Sahasranama (3456 letters totalling to 18),

many great Sanskrit literature works have

108 verses. There are 54 letters in Sanskrit.

Mahabharata War in Kurukshetra went on

for 18 days. The army had 18 Akshohinis,

which comprised 21870 chariots, 21870

elephants, 65610 cavalry and 109350

infantry (all these are multiples of 9)

totalling to 218700, which is a multiple of

18.

In numerology, the number 108 breaks

down to 1+0+8=9. Nine is a mystically

charged number and the sum of the digits

resulting from any number multiplied by 9

always returns to 9. Powers of 1, 2 and 3 in

mathematics are– (1)1 =1. (2)2 = 4. (3)3

=27. Now, 1 x 4 x 27= 108.

As 108 reveals us the connection between

the creation and the creator, let us also

follow the cosmic rhythm.

A. Masthan Reddy

Deputy General Manager

Arts in order of hierarchy are – Good hand writing, Administration, Health,

Harmonious Life, Logical thinking, Drawing, Painting, Dance, Drama and

above all, Literature.

RAMESH KUMAR BUNG

10. Lefthanders survive 9 years more than

ight-handers.

11. Rat can survive for more period without

drinking water than camel.

12. The widest road in the world is in Brazil.

It is so wide that 160 cars can go side by

side simultaneously.

13. There are 3500 varieties in mosquitoes.

Their life span is from one week to six

months. Mosquitoes have been existing

on earth since 40 crore years. They

spread dangerous and fatal diseases

like malaria, dengue, yellow fever etc.,

Male mosquitoes do not attack human

beings.

14. The famous scientist Madam Mary Curie

found radium and won Nobel Prize

twice. She could not become member in

the prestigious French Academy

because of the reason that she was a

woman.

15. The entire area of Pluto planet is less

than that of landed area of Russia.

16. Goldfish has memory only for 3

seconds.

17. Like human beings, even ants stretch

their body for relaxation after getting up

from sleep. They even yawn.

18. More calories are spent while we sleep

than we watch T.V.

19. Among intelligent animals, bear is also

one. There are only 8 species of bears

living now. They are spread over the

entire world. Though bears have heavy

body, they can run fast, climb lofty

places and swim. They eat meat, fish,

roots and plants. Generally bears live

alone; but while giving birth to younger

ones, they live in flocks. They have good

vision, more hearing power and 100

times smelling capacity than men. Polar

bears can swim with a speed of 4 to 6

miles per hour and can swim for 100

miles at a stretch.

P. Venugopal Reddy

HO: Credit

DO YOUDO YOUDO YOUDO YOUDO YOUDO YOU

KNOWKNOWKNOW???DO YOU

KNOW?

In the end, it is not the years in your life that count; it is life in your years – Abraham Lincoln080808

Sri Umesh Chand Asawa, MD & CEO greeting the branch heads

of Siddiamber Bazar, Attapur and Champapet Branches for

having achieved their business targets and Branch Manager of

Visakhapatnam in surpassing budgets under CASA for the year

end 31.03.2015.

DEALING WITH JET LAGNow a days from each house either as a

student or a job seeker or a wedded girl is

going abroad and staying there. It is quite

natural that their parents too visit foreign

countries to meet their children. After a

long journey in the planes almost all the

travellers face a physical problem called Jet

lag. It can take your body’s internal clock

several days to catch up the leap and in the

mean time you are likely to experience the

disruption of your sleeping and waking

cycle known as jet lag. Jet lag is also known

as time zone change syndrome. Jet lag can

occur when people travel rapidly from east

to west or west to east on a jet plane. It is a

physiological condition which upsets our

body's circadian rhythms - hence, it is

classified as a circadian rhythm disorder.

Jet lag symptoms tend to be more severe

when the person travels from westward

compared to eastward. We will examine a

few tips fight jet lag.

Adjust your internal clock: At least four

days before departure, gradually shift your

sleeping and eating time to coincide with

those at your destination. Once you arrive,

adopt the local time for your daily routine.

Opt for overnight flights: You will have

dinner at a normal time and be much more

likely to sleep than on an afternoon flight.

Depending on the length of the flight and

the number of time zones you cross, you

will arrive at your destination in the

morning or afternoon. This is the best way

to replicate your normal schedule and it will

be easy for you to reset your clock.

Curtail Coffee: For 12 hours before, as well

as during your flight, avoid overeating and

caffeine. Although caffeine can help keep

you awake longer, it makes you wake up

more often once you do fall asleep and so

reduces total sleep time.

Stay hydrated: Drink at least 8 ounces of

water for every hour you are in the air-even

if you don’t feel thirsty. If you wear contact

lenses, clean them thoroughly before your

flight, use eye-drops in the air and consider

removing your lenses if you nap. In your

carry-on pack a bottle of moisturizing

lotion, lip balm and a hydrating spray with

essential oils to sprite your face.

Avoid alcohol in flight: Cabin air

dehydrates passengers and altitude

changes can quicken the effects of alcohol.

A cocktail may relax you, but it is also apt to

dry you out, and even worsen symptoms of

jet lag.

Try to sleep on the plane: This especially

important when you are travelling

overnight or flying west to east. Travel is

extremely tiring and the more rest your

body gets on enroute the more prepared you

will be to deal with the stresses of jet lag. If

you are taking a very long flight – USA to

Asia, consider saving up enough dollars or

frequent flier miles to fly business or first

class, as it is a lot easier to sleep when your

seat reclines all the way back. If you cannot

avoid coach, opt for a window seat and

bring enough padding (pillows) to prop

yourself up against the wall.

Use sleeping pills wisely: A pill with a

short cycle may be helpful on overnight

flights. Make sure that you time the dosage

correctly or you may be very groggy when

you land. An airplane is not the place to try

out a pill for the first time; so only take

medication you are already familiar with.

See it melatonin is for you: Consider

tak ing the non-presc r ip t ion dr ug

melatonin. The body uses this hormone to

set its time clock. Melatonin seems to

control when we go to sleep and when we

wake up, use supplements to alleviate jet

lag. Taking 3 milligrams of fast-release

melatonin prior to bedtime for several days

after arrival in new time zone can ease the

transition.

S. Rama SarmaSenior Manager (O & M)

The road to success is always under

construction.

It is necessary to always surpass oneself and

This is a lifelong occupation.

RAMESH KUMAR BUNG

There was a poor, illiterate man in Baghdad in

olden days. He had no knowledge about doing

any work. His wife used to lead the family by

stitching clothes. Somehow, they were

surviving with great difficulty. She used to

chide and harass her husband daily for sitting

idle in the house doing nothing. One day she

told him: ‘Look at the persons sitting on

platforms of the main streets of the city with

almanacs in their hand; they forecast the

future to laymen and earn something for their

families. Learn from them, useless fellow’,

reprimanded the wife strongly.

Poor man, whose name was Hamid, got hurt

seriously by listening to these words of his

wife. He finally decided to cross threshold of

his house. He took an old almanac lying in the

house and went to the main street of the town.

He sat on a platform in one corner with his

almanac kept in front of him and waiting for

someone to approach him.

The princess of that country came in a

palanquin to the bathroom meant for taking

bath by royal people along with her

attendants. While going for bath, she had

removed her precious ear rings and gave them

to her assistant for holding them till she came

out of washroom. The lady, who was

engrossed in chit chatting with her colleagues

and while leaving the place she kept the

earrings in a hole of wall of the bathroom and

i n s e r t e d a s m a l l h e a p o f h a i r f o r

identification. After a long duration, the

princess came out and went back to the palace

along with her aides.

After reaching the palace, she asked her

assistant for the earrings. The lady assistant,

who totally forgot about them, ran back to the

common washrooms and started searching.

She did not remember where she had hidden

them. She started sweating as she would be

taken to task if she did not handover them

back to the princess. With great fear, she came

on to the streets, observed Hamid, sitting on a

platform. She thought that he may tell

something about the whereabouts of the

earrings. She saluted him and offered him

some money and asked about the golden

rings. The fake astrologer, who was totally

ignorant anything about forecasting, kept

silent. After repeated requests from the lady,

he observed her face and said a few words:

“Your blonde hair is beautiful”. The servant,

with these words, suddenly remembered

where she kept the earrings, thanked him

The need is not for new horizons.

But new spectacles to see the

existing horizons.

Life is beautiful.

See it with fresh eyes.

RAMESH KUMAR BUNG

AN ILLITERATE ASTROLOGER AN ILLITERATE ASTROLOGER

With every new day, you should come with new strength and new thoughts - Ramesh Kumar Bung090909

profusely, went to the washroom, got hold of

them, went back to the palace and handed

them over safely to her queen. On being asked

about the details, the servant maid revealed

everything and told the greatness of the

astrologer.

The princess was a lot surprised and told the

episode to the king. The king of Baghdad

invited Hamid to his court and appointed him

as his personal astrologer. The poor illiterate

man shifted his residence to the palace along

with his wife. Though they were happy,

Hamid was very much afraid what causality

he may have to face in the near future.

One night, some bandits entered the palace

and had stolen the entire valuable jewellery of

the royal family. Next day morning the king

came to know about the theft and commanded

his force to search them. The thieves could not

be caught. Finally, the king called Hamid and

ordered him to find out the culprits. He gave a

time limit of 40 days to him. Hamid was

greatly terrified as he did not know anything

about astrological devices for tracing a

person.

He came back to his residence with a heavy

heart. Though he had agreed to obey the

orders of the king, he did not do what to do.

Somehow, he became ready to undergo the

punishment. He collected 40 almonds to

count his days. The leader of the thieves came

to know about this astrologer. The entire gang

was incidentally comprised 40 thieves. He

sent the first one to the house of Hamid and

asked him to observe what the astrologer was

doing. The first thief entered the house. At the

same time, Hamid dropped first almond in a

jar and said: ‘This is the first one’. The thief

heard this, afraid of being identified himself

as the first one, reported the matter to his

leader. The leader, though was surprised, did

not believe this. He went on sending second

thief, third thief and so on for watching

Hamid. Daily Hamid went on saying, ‘this is

the second, this is the third one, this is fourth’

and so on. Though not expressed, the leader’s

fear increased. On the final day, he himself

went to Hamid’s house. At that time, Hamid

was very pathetic as that was the last day,

dropped the last almond in the jar and said:

‘This is the last one and a big one too’. The

leader of the gang, who was hidden behind

the wall, listened to this, came out and

prostrated before Hamid, weeping loudly and

said: ‘Sir, don’t handover us to the king; he

will hang us. I will surrender all the valuables

I had stolen. Please pardon me’. Hamid

accepted for this, took hold of entire wealth

and handed over them to the king next

morning.

The king was extremely happy and felicitated

Hamid with great respect and declared him as

the king of astrologers. Though Hamid

escaped a grave situation, he thought that he

will not pretend as an astrologer anymore.

Finally, he wanted to do something that the

king may send him out of the kingdom. With

the exist ing money Hamid can l ive

comfortably his entire life. When on one day,

he was taking bath, an idea flashed into his

mind. He ran to the palace with his watering

wet clothes and approached the king. King

was in the court and was engaged in an urgent

meeting. Hamid rushed to the king and lifted

him from his throne on his arms, and thrown

him on a distant chair in the court hall.

Suddenly a pillar (column) upon the throne

fell down and the royal seat was broken into

pieces. The king, who was hitherto angry with

the silly action of Hamid, realised that his life

was saved by his act. He said with a great

gratitude: “Sir, to save my life, you came all

the way from your bathroom with the wet

clothes. What a great astrologer you are!” He

knelt before Hamid and gave him plenty of

money and vast landed property and palace in

Baghdad.

You cannot stop a fortunate person!

Sheela JaiswalM.G. Road, Secunderabad

[Continued from previous issue]

Tax aspects of Partnership Firms: The most

important taxation features applicable for

partnership firms include –

01. The Indian Income Tax Act treats a

partnership firm (both registered and

unregistered) as a separate taxable

entity. In other words, a partnership firm,

and its partners are taxed separately.

02. From the assessment year 2010-11, these

provisions are also applicable in the case

of limited liability partnership.

03. The share of the partner in the income of

the firm is not included in computing his

total income.

04. Any salary, bonus, commission or

remuneration paid/payable to partners is

allowed as a deduction to the firm.

Though the deduction is subject to

certain restrictions, the amount allowed

as deduction to the firm is taxable in the

hands of partners.

05. Where a firm pays interest to any partner,

the firm can claim deduction of such

interest from its total income. The

maximum rate of such interest (eligible

for tax exemption) is 12% per annum. The

amount of interest allowed as deduction

in the hands of the firm, is taxable in the

hands of partner.

06. The income of the firm is taxed at a flat

rate of 30%.

Various classes of Partners: Only persons

competent to enter into a contract can become

valid partners. Thus, whereas individuals and

companies can become partners in their own

rights, entities like partnership firms and

HUFs are reckoned only through their

members, and not by themselves. The various

important aspects of such types of

partnerships from a lender’s point of view are-

Company as a partner: A company

incorporated under the Indian Companies Act,

1956 is a distinct legal entity and therefore,

can become a partner of a firm in its own right.

Unlike a partnership firm or a HUF (where the

members are individually counted as

partners), a company is counted as one

member. It is only the company and its assets

A solitary fantasy can totally transform one million realities - Ramesh Kumar Bung101010

PARTNERSHIP FIRMSPARTNERSHIP FIRMS

that are liable for any debt contracted by it as

a partner of the firm. Neither the directors nor

the shareholders of the company are liable for

such debt contracted by the firm where the

company is a partner. In view of this, bank

should meticulously examine the MOA and

AOA of the company specifically to ascertain

that the borrowing is within its powers.

Further if it is a public limited company, the

provisions of Section 293 (1) (d) of the

Companies Act relating to the maximum

borrowing limit becomes applicable. Since

lending banks usually ask for the guarantee

of individual partners including that of

corporate entities, provisions of section 372 A

of the Companies Act also becomes applicable.

As a partner, the company would have to pass

necessary resolutions for exercising the

borrowing powers and also for executing the

documents by affixing its common seal on the

loan documents. The bank has also to ensure

that a charge under Section 125 of the

Companies Act is registered within the

stipulated time frame.

Trust as a partner: A Trust is governed by the

provisions of the Indian Trusts Act. When a

Trust figures as a partner, one should

carefully examine the Trust Deed as well as

the partnership deed to ensure that the Trust

Deed empowers the Trustee/s to enter into

partnership, to carry on the business and to

borrow money; by itself or as a partner of the

firm. Accordingly, the Trustees would have to

pass a resolution authorizing some of them to

act as partners in the firm on behalf of the

Trust. In cases where the bank provides credit

to a partnership firm having a Trust as one of

its partners, there remains a possibility that

the beneficiaries of the Trust complain

against the bank alleging breach of trust.

Bank should, therefore should exercise

adequate care and precaution in such cases.

HUF as a partner: A Hindu Undivided Family

is not a partnership, but it is not uncommon to

see an HUF as a partner in a firm. We may

come across a partnership firm where the

name of the same person is present twice, one

in his individual capacity and the other as

Karta of his HUF. Today, an HUF is created

mostly to address the tax management issues

than any other considerations.

HUF is created by status and not by any

agreement as in the case of a partnership firm.

A Hindu Undivided Family, therefore, does not

have a separate legal entity distinct from its

members. As such it cannot on its own, enter

into a partnership. Banks, therefore, induct

all the major coparceners as partners in such

situations. This is more so, because, while

counting the total number of partners in a

partnership firm (which should not exceed 20

in a business other than banking), all major

coparceners of such HUFs are individually

counted to determine the ceiling.

Situation 1: A partnership firm has the

following partners:

1. Sri Ram Singh, as Karta of HUF of Sri

Ram Singh.

2. Sri Laxman Prasad, as Karta of HUF of Sri

Laxman Prasad.

3. Smt. Sita Devi.

Assuming that these two HUFs have 7

and 10 major coparceners respectively,

the total number of partners becomes 18

indicating a valid partnership.

Situation 2 : A partnership firm has the

following partners:

1. Sri Ram Singh, as Karta of HUF of Sri

Ram Singh (7 major coparceners).

2. Sri Laxman Prasad, as Karta of HUF of Sri

Laxman Prasad (10 major coparceners).

3. 5 other partners including Smt. Sita Devi.

The total number of major individuals

exceeds 20 in this case and, therefore, it

is not a valid partnership.

In a partnership, a person does not acquire

partnership rights by birth. It results from a

contract. As against this, a person acquires a

right by birth in an HUF. Secondly, there is no

limit on the maximum number of coparceners

in an HUF. The membership keeps on

fluctuating in an HUF which depends upon

the number of births and deaths of members

in the family. As against this, the maximum

number of partners in a firm cannot exceed 20

at any point of time.

[To be continues in next issues]

K.K. Rathi

Begum Bazar Branch

CORNERCORNERCORNERCORNERCORNERCORNERCORNERCORNERCORNERCORNERCORNER

01. Wife: “Dear, I am unable to see the distant things; please take me to an

eye specialist”.

Husband: “Look at the sky. What is there?”

Wife: “Sun”.

Husband: “Wonderful. Do you want to see more than that distance?

Your eyes are functioning perfectly”.

02. It is Zimbo TV Channel. Manju, the anchor is conducting a live

programme.

‘Tring….. Tring…. Tring….’

Manju: Hello, where from are you speaking? Caller: From

Mehdipatnam.

Manju: Oh! What a coincidence! I too live there. Where do you reside?

Caller: Deenabandhu Apartments.

Manju: Wow. We too live in it only. What is your flat number? Caller:

420.

Manju: That is our flat. Bye the bye, what is your name? Caller:

Hanuman.

Manju: What a surprise! My husband’s name is also Hanuman. Caller:

I am your husband only. Where did you keep the keys?

03. The nutrition class teacher asked the students to write an essay for three

pages on milk. Next day, all the boys have shown their respective

notebooks containing essays except one who wrote only one page. The

teacher got wild and asked him the reason. The student replied: “I wrote

about condensed milk madam. There is no matter to write more than a

page”.

04. Boy asked girl: ‘Do you love me?’ Girl responded: ‘Yes, I love you’. Boy

started running. Girl asked: ‘Where are you running?’ Boy replied: ‘To

update my relationship status in my Face Book’.

05. Amar said: ‘Lata, I cannot marry you. People in my house are not

accepting’. Lata: ‘Who are they to oppose your decision?’ Amar: ‘My wife

and children’.

06. Boat was drowning into the sea. Subba Rao asked his co-passenger:

‘How much distance the land is from here?’

He replied: ‘It is one mile’. Subba Rao jumped into the sea and asked the

co-passenger again: ‘In which direction?’ He replied: ‘Down- till the

bottom of the sea’.

07. Wife: ‘Windows is not getting opened’. Husband: ‘Heat some oil and

pour there’. After some time, Wife: ‘Now entire laptop stopped

functioning’.

08. Doctor: ‘A new cream has come. If it is applied, 40 years old lady will

appear as 20 years girl’. Doctor’s friend: ‘It seems the cream is being sold

like hot cakes’. Doctor: ‘No sales at all. No woman is admitting that she

is 40 years old’.

09. Teacher asked angrily: ‘I have asked you to draw the picture of insects.

You did not draw and brought blank paper. What do you think?’ Student

replied: ‘I have drawn picture of bacteria. They are so minute that you

cannot see them with your eye. You can watch them through

microscope’.

10. Sujatha enquired: ‘Lata, It seems there no face to face dialogues between

you and your husband. Is it so?’ Lata replied: ‘We have conversation

from cell to cell’.

G. Nanda Kumar

HO: PAD

APPROVAL TO INTRODUCE THE NEGOTIABLE INSTRUMENTS

If you cannot help others, at least don’t hurt them – Dalai Lama111111

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi,

has approved the proposal to introduce the Negotiable Instruments

(Amendment) Bill, 2015 in Parliament. The amendments are focused on

clarifying jurisdiction related issues for filing cases of offence

committed under Section 138 the Negotiable Instruments Act,1881 (NI

Act).

The main amendment included in this is the stipulation that the offence

of rejection/return of cheque u/s 138 of NI Act will be enquired into and

tried only by a Court within whose local jurisdiction the bank branch of

the payee, where the payee presents the cheque for payment is situated.

Section 138 of the NI Act deals with the offence pertaining to dishonour

of cheque for insufficiency, etc., of funds in the drawer’s account on

which the cheque is drawn for the discharge of any legally enforceable

debt or other liability. Section 138 provides for penalties in case of

dishonour of cheques due to insufficiency of funds in the account of the

drawer of the cheque. The object of the NI Act is to encourage the usage

of the cheque and enhancing the credibility of the instrument so that

normal business transactions and settlement of liabilities could be

ensured.

The clarification of jurisdictional issues may be desirable from the

equity point of view as this would be in the interests of the complainant

and would also ensure a fair trial. The clarity on jurisdictional issue for

trying cases of cheque bouncing would increase the credibility of the

cheque as a financial instrument. This would help trade and commerce

in general and allow lending institutions, including banks, to continue

to extend financing to the economy, without the apprehension of the

loan default on account of bouncing of a cheque. Action will be initiated

to introduce the Negotiable instruments (Amendment) Bill, 2015 in

Parliament in the second phase of the current Session of Parliament.

BACKGROUND

Various financial institutions and industry associations have expressed

difficulties, arising out of the recent legal interpretation of the place of

jurisdiction for filing cases under Section 138 to be the place of drawers’

bank by the Supreme Court. To address the difficulties faced by the

payee or the lender of the money in filing the case under Section 138 of

the NI Act, because of which, large number of cases were stuck, the

jurisdiction for offence under Section 138 has been clearly defined. The

Bill provides for filing of cases only by a court within whose local

jurisdiction the bank branch of the payee, where the payee presents the

cheque for payment, is situated. Further, where a complaint has been

filed against the drawer of a cheque in the court having jurisdiction

under the new scheme of jurisdiction, all subsequent complaints arising

out of Section 138 against the same drawer shall be filed before the

same court, irrespective of whether those cheques were presented for

payment within the territorial jurisdiction of that court. Further, it has

been provided that if more than one prosecution is filed against the

same drawer of cheques before different courts, when this fact is

brought to the notice of the court, the court shall transfer the case to the

court having jurisdiction as per the new scheme of jurisdiction.

(AMENDMENT) BILL, 2015 IN PARLIAMENT

The ozone layer or ozone shield refers to a

region of Earth's stratosphere that absorbs

most of the Sun's ultraviolet (UV) radiation. It

contains high concentrations of ozone (O3)

relative to other parts of the atmosphere,

although still very small relative to other gases

in the stratosphere. The ozone layer contains

less than 10 parts per million of ozone, while

the average ozone concentration in Earth's

atmosphere as a whole is only about 0.3 parts

per million. The ozone layer is mainly found in

the lower portion of the stratosphere, from

approximately 20 to 30 kilometres (12 to 19

mi) above Earth, though the thickness varies

seasonally and geographically.

The ozone layer was discovered in 1913 by the

French physicists Charles Fabry and Henri

Buisson. Its properties were explored in detail

by the British meteorologist G. M. B. Dobson,

who developed a simple spectrophotometer

that could be used to measure stratospheric

ozone from the ground. Between 1928 and

1958, Dobson established a worldwide

network of ozone monitoring stations, which

continue to operate to this day. The "Dobson

unit", a convenient measure of the amount of

ozone overhead, is named in his honour. The

ozone layer absorbs 97–99% of the Sun's

medium-frequency ultraviolet light (from

about 200 nm to 315 nm wavelength), which

otherwise would potentially damage exposed

life forms near the surface. The United Nations

General Assembly has designated September

16 as the Internat ional Day for the

Preservation of the Ozone Layer.

Ozone in the Earth's stratosphere is created by

ultraviolet light striking ordinary oxygen

molecules containing two oxygen atoms (O2),

splitting them into individual oxygen atoms;

the atomic oxygen then combines with

unbroken O2 to create ozone, O3. The ozone

molecule is unstable (although, in the

stratosphere, long-lived) and when ultraviolet

light hits ozone it splits into a molecule of O2

and an individual atom of oxygen, a

continuing process called the ozone-oxygen

cycle. About 90% of the ozone in our

atmosphere is contained in the stratosphere.

Ozone concentrations are greatest between

about 20 and 40 kilometres, where they range

from about 2 to 8 parts per million. If all of the

ozone were compressed to the pressure of the

air at sea level, it would be only 3 millimetres

thick. The band of UV closest to visible light,

UV-A (315–400 nm), is hardly affected by

ozone, and most of it reaches the ground. UV-A

does not primarily cause skin reddening, but

OZONE LAYEROZONE LAYER

Perfection is not attainable, but if we can chase perfection, we can catch excellence - Ramesh Kumar Bung121212

there is evidence that it causes long-term skin

damage.

Although the concentration of the ozone in the

ozone layer is very small, it is vitally important

to life because it absorbs biologically harmful

ultraviolet (UV) radiation coming from the sun.

UV-C, which is very harmful to all living things,

is entirely screened out by a combination of

dioxygen (< 200 nm) and ozone (> about 200

nm) by around 35 kilometres (115,000 ft)

altitude. UV-B radiation can be harmful to the

skin and is the main cause of sunburn;

excessive exposure can also cause cataracts,

immune system suppression, and genetic

damage, resulting in problems such as skin

cancer. UV radiation potentially causes

physical damage, premature aging of the skin,

indirect genetic damage, and skin cancer.

The ozone layer is higher in altitude in the

tropics, and lower in altitude outside the

tropics, especially in the Polar Regions. This

altitude variation of ozone results from the

slow circulation that lifts the ozone-poor air

out of the troposphere into the stratosphere. As

this air slowly rises in the tropics, ozone is

produced as the sun overhead photolyzes

oxygen molecules. As this slow circulation

levels off and flows towards the mid-latitudes,

it carries the ozone-rich air from the tropical

middle stratosphere to the mid-and-high

latitudes lower stratosphere. The high ozone

concentrations at high latitudes are due to the

accumulation of ozone at lower altitudes.

The total column amount of ozone generally

increases as we move from the tropics to higher

latitudes in both hemispheres. However, the

overall column amounts are greater in the

northern hemisphere high latitudes than in the

southern hemisphere high latitudes. In

addition, while the highest amounts of column

ozone over the Arctic occur in the northern

spring (March–April), the opposite is true over

the Antarctic, where the lowest amounts of

column ozone occur in the southern spring

(September–October).

The ozone layer can be depleted by free radical

catalysts, including nitric oxide (NO), nitrous

oxide (N2O),hydroxyl (OH), atomic chlorine

(Cl), and atomic bromine (Br). While there are

natural sources for all of these species, the

concentrations of chlorine and bromine

increased markedly in recent decades due to

the release of large quantities of man-made

organohalogen compounds, especially

c h l o r o f l u o r o c a r b o n s ( C F C s ) a n d

bromofluorocarbons. The breakdown of ozone

in the stratosphere results in reduced

absorpt ion o f u l t rav io le t rad ia t ion .

Consequently, unabsorbed and dangerous

ultraviolet radiation is able to reach the Earth’s

surface at a higher intensity. Ozone levels have

dropped by a worldwide average of about 4%

since the late 1970s. For approximately 5% of

the Earth's surface, around the north and

south poles, much larger seasonal declines

have been seen, and are described as "ozone

holes".

Ozone depletion and global warming:

To support successful regulation attempts, the

ozone case was communicated to lay persons

"with easy-to-understand bridging metaphors

derived from the popular culture" and related

to "immediate risks with everyday relevance".

The specific metaphors used in the discussion

(ozone shield, ozone hole) proved quite useful

and, compared to global climate change, was

much more seen as a "hot issue" and imminent

risk. Lay people were cautious about a

depletion of the ozone layer and the risks of

skin cancer.

In 1978, the United States, Canada and

Norway enacted bans on CFC-containing

aerosol sprays that damage the ozone layer.

The European Community rejected an

analogous proposal to do the same. In the U.S.,

chlorofluorocarbons continued to be used in

other applications, such as refrigeration and

industrial cleaning, until after the discovery of

the Antarctic ozone hole in 1985. After

negotiation of an international treaty (the

Montreal Protocol), CFC production was capped

at 1986 levels with commitments to long-term

reductions. Since that time, the treaty was

amended to ban CFC production after 1995 in

the developed countries, and later in

developing countries. Today, all of the world's

197 countries have signed the treaty. US. On

August 2, 2003, scientists announced that the

global depletion of the ozone layer may be

slowing down due to the international

regulation of ozone-depleting substances. In a

study organized by the American Geophysical

Union, three satellites and three ground

stations confirmed that the upper-atmosphere

o z o n e - d e p l e t i o n r a t e s l o w e d d o w n

significantly during the previous decade. Some

breakdown can be expected to continue due to

ODSs used by nations which have not banned

them, and due to gases which are already in the

stratosphere.

Akshay Singh

HO : Audit

It does not matter how slowly you go, as long as you do not stop - Ramesh Kumar Bung131313

Hindu Scriptures Mention Gravity 1,500 Years Before Isaac Newton

One of the country’s leading scientists and

former ISRO chairman, G Madhavan Nair,

today propounded the theory that some

Mantras in the Vedas mention the presence of

water on the moon, and that astronomy

experts l ike Aryabhatta knew about

gravitational force much before Isaac Newton.

The 71-year-old Padma Vibhushan awarded

said the Indian Vedas and ancient scriptures

also had information on metallurgy, algebra,

astronomy, maths, architecture and astrology

way before the western world knew about

them.

Speaking at an international conference on

Vedas , he however, added that the

information in Vedas was in a “condensed

format”, which he said made it difficult for

modern science to accept it. “Some Mantras in

one of the Vedas say that there is water on the

moon but no one believed it. Through our

Chandrayaan mission, we could establish

that and we were the first ones to find that

out,” Mr Nair said, adding that everything in

the Vedas could not be understood as they

were in chaste Sanskrit. He also talked very

highly about fifth century astronomer-

mathematician Aryabhatta, saying, “We are

really proud that Aryabhatta and Bhaskara

have done extensive work on planetary work

(sic) and exploration of outer planets. It was

one of the challenging fields,” said Mr Nair.

“Even for Chandrayaan, the equation of

Aryabhatta was used. Even the (knowledge

of) gravitational field… Newton found it some

1500 years later… the knowledge existing (in

our scriptures),” he added.

Mr Nair, who was ISRO chairman from 2003

to 2009, also claimed geometry, was used to

make calculations for building cities during

the Harappan civilisation and that the

Pythagorean Theorem also existed since the

Vedic period. Mr Nair’s come against the

backdrop of many BJP leaders talking about

ancient Indian scriptures having scientific

information, including on plastic surgery and

aero-dynamics.

“The Vedas had a lot of information in the

field of space and atomic energy. We were fine

until 600 BC. Then came the time of invasions

till Independence. Since then, we are growing.

We deciphered the atoms for peaceful use,” Mr

Nair said. While serving in ISRO, Mr Nair had

made significant contributions to the

development of multi-stage satellite launch

vehicles. “As a scientist, I would say that the

computations evolved those days were really

fantastic. The Vedanga Jyotisa (one of the

earliest books on astronomy) is one of the

texts, which is evolved in 1400 BC… this is all

recorded ,” he sa id . “These are the

fundamental findings which the Western

world did not have any knowledge of. The only

drawback was this information was

condensed to bullet form and the modern

science does not accept this. And to read the

Vedas, one must also know Sanskrit,” Mr Nair

added.

One of the country’s leading scientists and

former ISRO chairman G Madhavan Nair on

Saturday propounded the theory that some

Mantras in the Vedas mentioned about

presence of water on the moon and astronomy

experts l ike Aryabhatta knew about

gravitational force much before Issac Newton.

The 71-year-old Padma Vibhushan awardee

said the Indian vedas and ancient scriptures

also had information on metallurgy, algebra,

astronomy, maths, architecture and astrology

way before the western world knew about

them.

Speaking at an international conference on

Vedas, he, however, added that the

information in Vedas was in a “condensed

format” which made it difficult for the modern

science to accept it. “Some Mantras in one of

the Vedas say that there is water on the moon

but no one believed it. Through our

Chandrayaan mission, we could establish

that and we were the first ones to find that

out,” Nair said, adding that everything in

Vedas could not be understood as they were in

chaste Sanskrit. He also talked very highly

a b o u t f i f t h c e n t u r y a s t r o n o m e r -

mathematician Aryabhatta saying, “We are

really proud that Aryabhatta and Bhaskara

have done extensive work on planetary work

and exploration of outer planets. It was one of

the challenging fields.

“Even for Chandrayaan, the equation of

Aryabhatta was used. Even the (knowledge

of) gravitational field… Newton found it some

1500 years later… the knowledge existing (in

our scriptures),” he said. Nair, who was ISRO

chairman from 2003–09, also claimed

geometry was used to make calculations for

building cities during the Harappan

civilisation and the Pythagorean theorem

also existed since the Vedic period. The

comments by Nair came in the backdrop of

many BJP leaders talking about ancient

Ind ian sc r ip tures hav ing sc ient i f i c

information including on plastic surgery as

well as aero-dynamics.

Nair said, “The Vedas had a lot of information

in the field of space and atomic energy. We

were fine until 600 BC. Then came the time of

invasions till the independence. Since then we

are growing. We deciphered the atoms for

peaceful use.” In ISRO, Nair had made

significant contribution to the development of

multi-stage satellite launch vehicles. “As a

scientist I would say that the computations

evolved those days were really fantastic. The

Vedanga Jyotisa (one of the earliest books on

astronomy) is one of the texts, which is

evolved in 1400 BC…this is all recorded.

“These are the fundamental findings which

the western world did not have any

knowledge of. The only drawback was this

information was condensed to bullet form and

the modern science does not accept this. And

to read the Vedas one must also know

Sanskrit,” Nair said.

T. Gangadhar Rao

Head Office

Only a good seed can make a good tree.Yet, the earth can do without the seedBut the seed cannot do without the earth. RAMESH KUMAR BUNG

Try to be a rainbow in someone’s cloud - Ramesh Kumar Bung141414

Ramasastry is a well-known doctor in the town. The town is situated on

the bank of a river. One evening, he invited his two childhood friends to

his house for dinner. Srihari and Vithal came to his house accepting his

invitation. Srihari is a school teacher and Vithal is a judge in another

town. Ramasastry told his wife to prepare dinner for three persons. They

sat in the balcony and started chitchatting. The topic went on mistakes

committed by them while discharging their duties and all of them agreed

to reveal their failures one after another.

There was a very rich man in the town. He used to give treat every month

by inviting important persons to his residence. Once Ramasastry was

also invited to the dinner. He felt extremely happy that he was listed as an

important person. He wanted to meet all the big people thereby come up

in his medical profession. He dressed himself well and proceeded

towards the house of the rich man. Suddenly a poor woman came to him

weeping and genuflected before Ramasastry. She reported that her

husband’s condition was critical and requested him to treat her husband.

Ramasastry’s mind was on the dinner. He thought that there would be no

income from the poor lady if he treats her husband. He said: ‘I am going

on an urgent work; and I will see your husband later’. When he came back

from the dinner late in the night, he was reported that her husband died

for want of timely treatment. Ramasastry told his friends: ‘Except on this

occasion, I never failed in my duties’.

The school master Sreehari narrated: ‘I used to work in the school run by

a Zamindar. Zamindar’s son was also studying in the same school. The

boy used to neglect his studies. There was another boy, who was a son of

poor farmer in the school. He was very intelligent and always excelled

Zamindar’s son in studies. Zamindar came to know about this and

pressurised me to send the farmer’s son out of the school. I was afraid to

disobey the orders of the Zamindar as I was likely to lose my job if I did

not listen to his words. I started asking the poor boy several untaught

questions and failed him in the class. Resultantly, I ostracized him from

school. Though the peasant is aware that this was quite unjust on my

part, he kept silent due to fear of Zamindar. The boy started to help his

father in agriculture. This is the only mistake I committed’.

Vithal, the judge said he too could not do his duty correctly once. He told:

‘One day, a dispute came in front of me. A big trader built a huge building

in his place. There was another plot adjacent to his palace, which

belonged to a small agriculturist. The businessman asked the farmer

many a time to sell him his piece of land. The farmer denied the proposal

throughout. Then the trader occupied his land forcibly after demolishing

his hut. The case came before me. I know the truth; but at that time I had

proposed my daughter to get married to the son of the businessman. The

trader had lot of influence in the society. Against the justice, I gave the

verdict against the farmer. This is the only mistake I committed in my

career’.

Ramasastry said, ‘on the whole, we all have discharged our duties well.

Come, let us have our dinner’. He entered the kitchen and found that his

wife was listening to their conversation sitting behind the door instead of

cooking. Ramasastry asked: ‘What is this? You are sitting idle; did you

not prepare dinner?’ She replied: ‘No. I have severe body pains’.

Ramasastry got wild. At that time of late night, even hotels might have

been closed in the town. Should he and his friends starve with hunger?

With lot of hunger and anger, he lifted his hand to beat his wife.

‘Stop for a while. You have raised your hand to beat me for not

discharging my duties once. What would happen if you don’t eat for one

day? If a doctor doesn’t do his duties well, a life cannot be saved. If the

teacher fails to do his duty, entire career of a boy is spoiled. In case a

judge gives a wrong judgement, a person is punished unnecessarily. All

these mistakes, though committed once, are inexcusable. All three of you

should know this fact. I have already completed my cooking. Wash your

hands and feet and come for dinner; I will serve’, said she.

V. Jyothi

HO: PAD

DERELICTION OF DUTIES DERELICTION OF DUTIES

Sri Purshotamdas Mandhana, Chairman and Sri Ramesh Kumar Bung, Senior Vice-Chairman felicitating Sri G. Jagadishwar Chand and Ms. Shashi Agarwal on their retirement from the bank.

Sri Rampal Attal, Vice-Chairman and Sri V.S. Sarma, General Manager are in the photograph

Best Wishes on Your RetirementBest Wishes on Your RetirementBest Wishes on Your RetirementBest Wishes on Your Retirement

THE FIRST AMERICAN WOMAN IN SPACETHE FIRST AMERICAN WOMAN IN SPACE

Man never made any material as resilient as the human spirit - Ramesh Kumar Bung151515

Sally Kristen Ride (May 26, 1951 – July 23,

2012) was an American physicist and astronaut.

Born in Los Angeles, Ride joined NASA in 1978

and became the first American woman in space

in 1983. At the age of 32, she still remains the

youngest American astronaut to travel to space.

After flying twice on the space shuttle

Challenger, she left NASA in 1987. She worked

for two years at Stanford University's Centre for

International Security and Arms Control, then

the University of California, San Diego as a

professor of physics, primarily researching non-

linear optics and Thomson scattering. She

served on the committees that investigated the

Challenger and Columbia space shuttle

disasters, the only person to participate on both.

The elder child of Dale Burdell Ride and Carol

Joyce, Ride was born in Los Angeles, California.

She had one sibling, Karen "Bear" Ride, who is a

Presbyterian minister. Both parents were elders

in the Presbyterian Church. Ride's mother had

worked as a volunteer counsellor at a women's

correctional facility. Her father had been a

political science professor at Santa Monica

College. Ride attended Portola Junior High

School and then Birmingham High School

though graduating from Westlake School for

Girls in Los Angeles on a scholarship. In addition

to being interested in science, she was a

nationally ranked tennis player. Ride attended

Swarthmore College for three semesters, took

physics courses at UCLA, and then entered

Stanford University as a junior, graduating with

a bachelor's degree in English and physics. At

Stanford, she earned a master's degree and a

Ph.D. in physics while doing research on the

interaction of X-rays with the interstellar

medium.

Ride was one of 8,000 people who answered an

advertisement in the Stanford student

newspaper seeking applicants for the space

program. She was chosen to join NASA in 1978.

During her career, Ride served as the ground-

based capsule communicator for the second and

third space shuttle flights and helped develop

the space shuttle's robot arm.

Prior to her first space flight, she was subject to

media attention due to her gender. During a

press conference, she was asked questions like,

"Will the flight affect your reproductive organs?"

and "Do you weep when things go wrong on the

job?" Despite this and the historical significance

of the mission, Ride insisted that she saw herself

in only one way—as an astronaut.[7] On June

18, 1983, she became the first American woman

in space as a crew member on space shuttle

Challenger for STS-7. She was preceded by two

Soviet women, Valentina Tereshkova in 1963

and Svetlana Savitskaya in 1982. The five-

person crew of the STS-7 mission deployed two

communications satellites and conducted

pharmaceutical experiments. Ride was the first

woman to use the robot arm in space and the

first to use the arm to retrieve a satellite. Her

second space flight was in 1984, also on board

the Challenger. She spent a total of more than

343 hours in space. Ride, who had completed

eight months of training for her third flight (STS-

61-M, a TDRS deployment mission) when the

space shuttle Challenger disaster occurred, was

named to the Rogers Commission (the

presidential commission investigating the

accident) and headed its subcommittee on

operations. Following the investigation, Ride

was assigned to NASA headquarters in

Washington, D.C., where she led NASA's first

strategic planning effort, authored a report

entitled "NASA Leadership and America's Future

in Space" and founded NASA's Office of

Exploration.

In 1987, Ride left her position in Washington,

D.C., to work at the Stanford University Center

for International Security and Arms Control. In

1989, she became a professor of physics at the

University of California, San Diego, and director

of the California Space Institute. From the mid-

1990s until her death, Ride led two public-

outreach programs for NASA — the ISS Earth

KAM and GRAIL Moon KAM projects, in

cooperation with NASA's Jet Propulsion

Laboratory and UCSD. The programs allowed

middle school students to request images of the

Earth and moon. In 1999, she acted in the

season 5 finale of Touched, titled "Godspeed". In

2003, she was asked to serve on the Columbia

Accident Investigation Board. She was the

president and CEO of Sally Ride Science, a

company she co-founded in 2001 that creates

entertaining science programs and publications

for upper elementary and middle school

students, with a particular focus on girls.

Ride wrote seven books on space aimed at

children, with the goal of encouraging children

to study science.

Ride endorsed Barack Obama for U.S. President

in 2008. She was a member of the Review of

United States Human Space Flight Plans

Committee, an independent review requested by

the Office of Science and Technology Policy

(OSTP) on May 7, 2009.

Ride died on July 23, 2012, at the age of 61,

seventeen months after being diagnosed with

pancreatic cancer. Following cremation, her

ashes were interred next to her father at

Woodlawn Cemetery, Santa Monica, California.

Ride received numerous awards, including the

National Space Society's von Braun Award, the

Lindbergh Eagle, and the NCAA's Theodore

Roosevelt Award. She was inducted into the

National Women's Hall of Fame and the

Astronaut Hall of Fame and was awarded the

NASA Space Flight Medal twice. Ride was the

only person to serve on both of the panels

investigating shuttle accidents (those for the

Challenger accident and the Columbia disaster).

Two elementary schools in the United States are

named after her: Sally K. Ride Elementary

School in The Woodlands, Texas, and Sally K.

Ride Elementary School in Germantown,

Maryland. In 1994, Ride received the Samuel S.

Beard Award for Greatest Public Service by an

Individual 35 Years or Under, an award given out

annually by Jefferson Awards.

On December 6, 2006, California Governor

Arnold Schwarzenegger and First Lady Maria

Shriver inducted Ride into the California Hall of

Fame at the California Museum for History,

Women, and the Arts. The following year, she

became inducted into the National Aviation Hall

of Fame in Dayton, Ohio.

Ride directed public outreach and educational

programs for NASA’s GRAIL mission, which sent

twin satellites to map the moon’s gravity. On

December 17, 2012, the two GRAIL probes, Ebb

and Flow, were directed to complete their

mission by crashing on an unnamed lunar

mountain near the crater Goldschmidt. NASA

announced that it was naming the landing site

in honour of Sally Ride. Flying magazine ranked

Ride at number 50 on their list of the "51 Heroes

of Aviation" in 2013. In April 2013, the U.S. Navy

announced that a research ship would be named

in honour of Sally Ride. This was done in 2014

with the christening of the oceanographic

research vessel R/V Sally Ride. In 2013, Janelle

Monáe released a song called "Sally Ride". Also

in 2013, astronauts Chris Hadfield and

Catherine Coleman performed a song called

"Ride On."

In 2013, the Space Foundation bestowed its

highest honour, the General James E. Hill

Lifetime Space Achievement Award, on Sally

Ride. On May 20, 2013, a National Tribute to

Sally Ride was held at the Kennedy Centre for the

Performing Arts in Washington, D.C. On the

same day, President Barack Obama announced

that Ride would receive the Presidential Medal of

Freedom, the highest civilian award in the

United States. The medal was presented to Ride's

life partner Tam O'Shaughnessy in a ceremony at

the White House on November 20, 2013. In 2014

Sally Ride was inducted into the Legacy Walk, an

outdoor public display which celebrates LGBT

history and people.

161616

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BOOK-POSTPRINTEDMATTERBOOK-POSTPRINTEDMATTER

On 2nd June, 2015, Reserve Bank of India has

reduced the policy repo rate by 25 basis points

from 7.5 per cent to 7.25 percent and kept the

Cash Reserve Ratio (CRR) of Scheduled Banks

unchanged at 4 percent of net demand and time

liabilities (NDTL). RBI will continue to provide

liquidity under overnight repos at 0.25 percent

of bank-wise NDTL under 14 day term repos as

long term repos of up to 0.75 percent of NDTL of

the banking system through auctions.

Consequently, the reverse repo rate was adjusted

to 6.25 percent and the marginal standing

facility (MSF) rate and the Bank Rate to 8.25

percent.

‘Banks have started passing through some of the

past rate cuts into their lending rates, headline

inflation has evolved along the projected path,

the impact of unseasonal rains has been

moderate so far, administered price increases

remain muted, and the timing of normalisation

of US monetary policy seems have been pushed

back. With low domestic capacity utilisation,

still mixed indicators of recovery, and subdued

investment and credit growth, there is a case for

a cut in the policy rate’, RBI Governor Raghuram

Govinda Rajan said in a statement.

As anticipated, the Central Statistics Office has

revised downwards its estimate of India’s gross

value added (GVA) at basic prices for 2014-15 by

30 basis points from the advance estimates.

Domestic economic activity remains moderate in

Q1 of 2015-16. Agricultural activity was

adversely affected by unseasonal rains and

hailstorms in north India during March 2015,

SECOND BI-MONTHLY MONETARY POLICY STATEMENT- Reserve Bank Cuts REPO By 25 bps

impinging on an estimated 94 lakh hectares of

area sown under the rabi crop. Reflecting this,

the third advance estimates of the Ministry of

Agriculture indicate a contraction in food grains

production by more than 5 per cent in relation to

the preceding year’s level. Successive estimates

have been pointing to a worsening of the

situation, with the damage to crops like pulses

and oilseeds – where buffer foodstocks are not

available in the central pool – posing an upside

risk to food inflation. For the kharif season, the

outlook is clouded by the first estimates of the

India Meteorological Department (IMD),

predicting that the southwest monsoon will be 7

per cent below the long period average. This has

been exacerbated by the confirmation of the

onset of El Nino by the Australian Bureau of

Meteorology.

Leading indicators of services sector activity are

emitting mixed signals. A pick-up in service tax

collections, sales of trucks, railway freight,

domestic air passenger and air freight traffic

c o u l d a u g u r w e l l f o r t r a n s p o r t a n d

communication and trade. On the other hand,

the slowdown in tourist arrivals, railway traffic

and international air passenger and freight

traffic could affect hotels, restaurants and some

constituents of transportation services

adversely. The services PMI declined in April

2015, mainly on account of slowdown in new

business orders. Community and personal

services are likely to be held back by the ongoing

fiscal consolidation.

Fuel inflation rose for the fourth successive

month to a twelve-month high, driven by prices

of electricity and firewood. Inflation in these

components was accentuated by base effects –

the recent price uptick coming on top of muted

increases a year ago. Inflation excluding food

and fuel rose marginally. House rent, education,

medical and transport expenses were among the

major drivers of inflation in this category. Rural

wage growth, although still moderate, picked

up. Inflation expectations remain in high single

digits, although they may adapt further to

current low inflation. Yet, both input and output

price pressures remain muted as reflected in the

Reserve Bank’s industrial outlook survey.

Purchasing managers’ indices also corroborate

these developments.

Strong food policy and management will be

important to help keep inflation and inflationary

expectations contained over the near term.

Furthermore, monetary easing can only create

the enabling conditions for a fuller government

policy thrust that hinges around a step up in

public investment in several areas that can also

crowd in private investment. This will be

important to relieve supply constraints and aid

disinflation over the medium term. A targeted

infusion of bank capital into scheduled public

sector commercial banks, especially those that

implement concerted strategies to clean up

stressed assets, is also warranted so that

adequate credit flows to the productive sectors

as investment picks up.

The third bi-monthly monetary policy statement

will be announced on August 4, 2015.