AS PER PRICE INDEX AS ON 30 TH JUNE, 2015, THE INCREASE IN IDA FROM 1ST JULY, 2015 WILL BE 2.1% AND TOTAL IDA 102.6%.
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ASIAN INFRASTRUCTURE INVESTMENT BANK ( AIIB)- AGREEMENT SIGNED.
Beijing, Jun 29 : Representatives from 50 founding countries, including India, today signed an agreement that provided the legal framework for the China-led USD 100 billion multilateral Asian Infrastructure Investment Bank (AIIB).
The 60-article agreement specified each member’s share as well as governance structure and policy-making mechanism of the bank, which is designed to finance infrastructure in Asia.
The delegates from 50 founding countries gathered at the Great Hall of the People for the signing ceremony. Australia was the first country to sign the agreement, followed by 49 other members. Seven more countries are due to sign by the end of the year.
The AIIB will have authorised capital of USD 100 billion, and Asian countries will contribute to up to 75 per cent of the total capital. Each member will be allocated a share of the quota based on their economic size, according to the agreement.
FORUM OF BSNL UNIONS / ASSOCIATIONS CIRCULAR ON IMPORTANT DECISIONS- AIBDPA UNITS TO JOIN IMPLEMENTATION.
FORUM OF BSNL UNIONS / ASSOCIATIONS
Dada Ghosh Bhawan, 2151/1, New Patel Nagar,
Opp. Shadipur Bus Depot., New Delhi – 110 008
Circular No.3 29th June, 2015
To General Secretaries of all Unions and Associations of Forum.
Comrade,
Decisions of the Forum, taken in the meeting held at New Delhi on 26th June, 2015.
A meeting of the Forum was held at New Delhi on 26-06-2015. Com. Chandeswar Singh, President of the Forum, presided over the meeting. The General Secretaries / representatives of BSNLEU, NFTE, SNEA, BSNL MS, SNATTA and BTU participated in the meeting. Com.P.Abhimanyu, Covener, welcomed every one and briefed on the developments that had taken place after the last meeting.
Month long campaign extended for one more month.
1) The meeting reviewed the implementation of the call, already given by the Forum, to conduct a month long campaign, from 8th June to 7th July, to popularise the “9 pm to 7 am ” free call concession, and also to increase the number of landlines. After detailed discussion, the meeting decided that the campaign should be extended for one more month. It is also decided that, the “Free incoming calls on roaming” facility, recently announced by the Management, should also be popularised in the campaign. Hence, all circle and district secretaries are requested to take every possible step to effectively conduct the campaign.
2) The meeting expressed it’s dissatisfaction over the slackness on the part of the circle and district level Forums, in implementing the month long campaign. So far, the All India Unions/Associations have not received any news from any circle, regarding the implementation of the campaign. Hence, the Forum took the decision that, all circle level Forums should compulsorily meet by 03- 07-2015 and finalise steps for the successful implementation of the campaign. Similarly, all the district level Forums should meet by 06-07-2015 and finalise the steps to be taken at the district level, for the successful implementation of the campaign. Forum also took the decision to write to the CMD BSNL, complaining about the inaction of the circle and SSA level administrations, in taking steps to increase our customer base, utilising the free call concession.
3) “Free call concession” and”free incoming calls on roaming” will result in massive loss to BSNL, if not properly utilised. The BSNL Management has taken two bold marketing initiatives recently. They are the “9 pm to 7 am” free call concession and the “free incoming calls on roaming” facilities. Both these steps have been largely welcomed by the public, as a result of which the Company’s image has also greatly improved. At the same time, we should not forget that, the Company is going to lose it’s revenue to the extent of thousands of crores of rupees, as a result of the implementation of both these concessions. Increasing our customer base substantially, is the only way to save the Company from this loss of revenue. Hence, we the employees, have to take every possible step, to increase our customer base in a big way, both in the landline and mobile segments. The next one month period should be entirely and effectively utilised to conduct the campaign.
4) The meeting reviewed the improvement that have taken place after the talks that were held with the Secretary, DoT, on 01-05-2015, on the demands on which the 2.25 lakh BSNL employees went on a 2 day strike. The meeting expressed it’s dissatisfaction, since there is no improvement on any issue, except the demand of 78.2% IDA merger for the pensioners. Hence, the meeting decided to write to the Secretary, DoT, expressing the deep disappointment of the employees.
5) “Post card campaign” to be conducted in the month of August.
The meeting has decided that, the whole month of July should be utilised to increase our customer base. At the same time, the Forum has come to the conclusion that, we cannot remain silent for long, since 2 months have already passed since the 2 day strike had taken place. Hence, it is decided that, a “Post card campaign” should be conducted in the month of August. This post card campaign should take place from 10th to 22nd August, 2015. A post card should go from each and every employee to the Hon’ble Minister of Communications, demanding immediate steps for the revival of BSNL. The text of the post card shall be as follows:- “Hon’ble Minister of Communications & IT is requested to immediately settle the demands submitted by the Forum, for the revival of BSNL.” The post card should be signed by the individual employee, with his name, designation and SSA. The Forum at the circle and SSA levels should organise this campaign.
6) It is decided that the next meeting of the Forum would take place on 15-07-2015
P. Abhimanyu, Convener Mob: 9868231113
ALL AIBDPA UNITS ARE REQUESTED TO JOIN THE FORUM AT EVERY LEVEL TO HELP IMPLEMENTING THE DECISIONS EFFECTIVELY AND SUCCESSFULLY.
COM. P. MURUGESAN, DISTRICT PRESIDENT, MADURAI PASSED AWAY.
WITH PROFOUND GRIEF WE REPORT THE UNEXPECTED AND SAD DEMISE OF COM. P. MURUGESAN, DISTRICT PRESIDENT, AIBDPA, MADURAI, TAMIL NADU AT 0230 IN THE EARLY MORNING ON TODAY, 29TH JUNE, 2015. THE END CAME AFTER A SCOOTER ACCIDENT AND THE CREMATION WILL BE HELD AT 1600 HRS ON TODAY. COM. P. MURUGESAN HAS FUNCTIONED IN VARIOUS POSTS IN E-3, E-4, ITEU, BSNLEU, TMCTU AND AIBDPA.
AIBDPA DIPS ITS BANNER IN RESPECT OF THE DEPARTED SINCERE AND DEVOTED LEADER AND CONVEYS DEEP CONDOLANCES TO THE BEREAVED FAMILY AND COMRADES IN TAMIL NADU.
FIXED MEDICA ALLOWANCE STOPPED TO CENTRAL GOVT EMPLOYEES IN INTERIOR/REMOTE AREAS.
Stoppage of Fixed Medical Allowance (FMA) being paid to the Central Government employees working in the interior/remote areas and their governance under CS(MA) Rules, 1944
No.S.14025/09/2013-MS
Government of India
Ministry of Health and Family Welfare
Department of Health & Family Welfare
Nirman Bhawan, New Delhi
Dated June, 2015
OFFICE MEMORANDUM
Subject: Stoppage of Fixed Medical Allowance (FMA) being paid to the Central Government employees working in the interior/remote areas and their governance under CS(MA) Rules, 1944.
Reference is invited to OM No.S-14020/1/88-MS dated 17.07.1990 in which fixed medical allowance to the tune of Rs.25/- per month was granted to employee working in the interior/remote areas where no Authorized Medical Attendant was available within a radius of 5 kms, which was subsequently revised to the tune of Rs.100/- per month vide OM F.No.14025/33/98-MS dated 18.01.1999.
2. On receiving a proposal from Ministry of Defence on the issue of medical reimbursement to employees who are in receipt of Fixed Medical Allowance, the matter was examined in the Ministry in consultation with Department of Expenditure and Department of Personnel & Training.
3. It has now been decided to stop the above mentioned Fixed Medical Allowance. Henceforth, the Central Government employees residing in interior/remote areas will be governed by the extant rules as laid down under CS(MA) Rules, 1944.
4. This O.M. will be effective from the date of issue. After issuance of this OM, the above mentioned O.Ms i.e. O.M. No.S-14020/1/88-MS dated 17.07.1990 and O.M. F.No.14025/33/98-MS dated 18.01.1999, stand withdrawn.
5. This issues with the concurrence of the Department of Personnel & Training and Department of Expenditure.
(Bindu Tewari)
Directo
COM. V.A. N. NAMBOODIRI ADDRESSES A WELL ATTENDED MEETING OF BSNLEU/AIBDPA IN BENGALURU.
A well attended meeting of BSNLEU and AIBDPA, Bengaluru District, CGM Office, Civil/Electrical, QA and STR was held at BSNLEU Office, Bengaluru at 14.00 hours on 27th June 2015, presided over by Com. Kempe Gouda, District President. Com. C.K.Gundanna, Circle Secretary, Karnataka spoke about the decisions of the CEC at Dalhousie. The house stood in silence for one minute paying homage to Com. A.M.Patil, Circle secretary, Gujarat, who passed away at the time of CEC. Com. H.V.Sudershan, Dist. Secretary, BGTD, addressed the house and welcomed all. Senior leaders Muddiah, J.V.Keshav, T.S.Krishna Moorthy, Infran Pasha, Shravan Kumar singh, Farooque, Girish, Krishnan kutty, H.C.Prakash, Bharathi, M.Manchaiah, Shivalinga Prasad and other leaders were in the dais.
Com.V.A.N.Namboodiri, founder General Secretary and Patron BSNLEU and also Founder Convener of Forum of BSNL Unions/Associations addressed the house and briefed about the latest developments after the successful 2 days strike on 21-22 April 2015, the meeting with the Secretary, DOT and the assurances etc. He also spoke about the efforts being made by the Forum and the Management to implement the ‘09.00 PM- 07.00 AM’ campaign for improvement of services and BSNL expansion. The present position of 78.2% IDA pension fixation was also stated. Com. Namboodiri answered and explained on the issues raised by the members. He was given a very affectionate reception at the meeting.
The Bengaluru Comrades assured Com. Namboodiri that BGTD and other districts in Bengaluru will ensure the ‘Save BSNL Campaign’ very effectively and ensure profit for the BSNL.
EXPORT LOSING STEAM, MAY LEAD TO JOB LOSSES : FIEO.
NEW DELHI: The continuous decline in exports may result in job losses and impact economic growth, exporters bodyFIEO on Saturday said.”Based on the order booking position, exports may significantly decline in volume terms in months to come, which will result in layoffs,” Federation of Indian Exports Organizations (FIEO) president S C Ralhan said in a statement.”If exports continue to move in the negative territory, it will sooner or later put pressure on CAD ( current account deficit) and may derail the rebuilding of economy.” ( Courtesy: The Times Of India. )
GLOBAL ECONOMY MAY BE SLIPPING INTO 1930S- LIKE DEPRESSION- SAYS RBI GOVERNOR.
LONDON, JUNE 26:
Reserve Bank of India (RBI) Governor Raghuram Rajan has asked central banks from across the world to define “new rules of the game” as he warned that the global economy may be slipping into problems similar to those faced during the Great Depression of the 1930s.
Rajan, who has been warning against competitive monetary policy easing by central banks, however, said the situation is different in India, where the RBI still needs to bring down lending rates to spur investments.
‘Debate central bank action’
“We need rules of the game in order to effect a better solution. I think it is time to start debating what should the global rules be on what is allowed in terms of central bank action,” he said at a London Business School (LBS) conference here last evening
“I am not going to venture a guess as to how we establish the new rules of the game. It has to be an international discussion, an international consensus, built over time after much research and action,” Rajan said.
“But I do worry that we are slowly slipping into the kind of problems that we had in the 1930s in attempts to activate growth. And, I think it’s a problem for the world. It’s not just a problem for the industrial countries or emerging markets; it’s now a broader game,” the RBI Governor noted.
Investment concerns
Asked specifically about interest-rate cuts from an Indian perspective, he said: “I try to shut out market reactions as far as I can. We (India) are still in a situation where we have to spur investment and I am worried more about that.
“So I shut out the asset price (hike) reaction and think more about ‘is this going to bring bank lending rates down’ and, therefore, channel cheaper credit into firms and then they will invest. However, the issue gets much more complicated for other markets,” he said.
The RBI Governor was addressing the ‘Perspectives’ conference organised by AQR Asset Management Institute at the LBS campus on the subject of ‘The Central Banker Perspective’
He highlighted the tremendous pressure for growth which, in turn, creates enormous pressure on central banks to take action.
Rajan stressed that seven years on from the economic crisis, central banks have done a lot.
Shifting growth
“The question is are we now … in trying to produce growth out of nowhere … shifting growth from each other, rather than creating growt
Of course, there is a past history of this during the Great Depression, when we got into competitive devaluation,” he warned
Rajan also highlighted the need for countries to work together on capital flows
“We have to become more aware of the spill-over effects of our actions. And the rules of the game that we have — what is allowed and what is not allowed — need to be revisited,” he said.
( courtesy: BUSINESS LINE. )
BRICS BANK TO START BY APRIL, 2016.
Shri. K. V. Kamath, first President of New Development Bank, also known as BRICS Bank has stated that the functioning of the bank is expected to commence in April, 2016.
NDB, founded by the BRICS nations ( Brazil, Russia, India, China and South Africa ) has now decided to expand its operations to other member nations as well. Shri. K. V. Kamath has also said that the bank would be different from other institutions such as the ‘World Bank and the Asian Development Bank. It would have a different mindset and be a lot more flexible in its operations. An important aspect will be with regard to the speed of lending.
Mr. Kamath stated that the bank would have Vice Presidents from three other nations. Mr. K. V. Kamath, former Chairman of ICICI bank and Infosys, will take over as the head of the multilateral development institution in July, 2015 at Shanghai in China.
AUSTRALIA JOINS ASIAN INFRASTRUCTURE INVESTMENT BANK.
In a significant development, Australia, which had not joined the China led Asian Infrastructure Investment Bank due to pressure from USA, has joined AIIB. Australian government’s decision has come after extensive discussions with China and other key partners globally. Australia will invest about $ 930 million to the financial institution to become the sixth largest share holder while India is the second largest share holder.
Australia will contribute $ 930 million as paid-in capital to the AIIB over five years. AIIB will have paid-in capital of $ 20 billion with total authorized capital of $ 100 billion. According to official statement, there was an estimated infrastructure financing gap of around $ 8 trillion in the Asian region over the current decade.
Though it has been shunned by USA and Japan, the bank has already 57 prospective members.