Wednesday, August 29, 2012

When Neil Armstrong apologised to Indira Gandhi


How Armstrong kept Indira Gandhi awake
PTI :Tuesday, August 28, 2012, 13:56 [IST]

London, Aug 28: "I apologise for the inconvenience," US astronaut Neil Armstrong told Indira Gandhi when informed that the Indian Prime Minister had kept awake till 4:30 am to watch him land on the moon on Jul 20, 1969.
This anecdote about the celebrated astronaut, who died two days ago, was recalled here by former External Affairs Minister K Natwar Singh who was present when Armstrong and his fellow astronaut met Mrs Gandhi in New Delhi as part of their world tour after their moon landing.
Singh, who conducted the two heroes into Mrs Gandhi's room at her Parliament House office, recalled that the then US ambassador was also present. After photographers snapped the two astronauts with the prime minister and left the room, there was an awkward silence.
On being signalled by Mrs Gandhi to speak, Singh said, "Mr Armstrong, you will be interested to know that the Prime Minister kept awake till 4.30 am, so as not to miss the exact time of your lunar landing." Singh recalled that Armstrong rose to the occasion and said, "I apologise for the inconvenience we caused you, Madame Prime Minister. Next time, I shall make sure that we land on the moon at a less unearthly hour".
Jul 20, 1969 became a watershed date in the history of mankind after Armstrong, commanding the Apollo 11 spacecraft landed on the moon, accompanied by fellow astronaut Aldrin spent nearly three hours walking on the moon. After the Apollo 11's moon mission, Armstrong announced that he did not plan to fly in space again. Armstrong died on Aug 25 at the age of 82.

Tuesday, August 28, 2012

ஓணம் திருநாள் வாழ்த்துக்கள் !


Happy Onam Pictures

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Onam Photo Gallery


Another Onam is around the corner and the nolstalgia is in the minds of every keralite who is away from home.
 Lets go through the special onam photo gallery below
Wishing you all a very happy and prosperous Onam in advance.......
As Onam is one of the unique festivals in the world as it is celebrated by all the keralites in the world irrespective of any caste or religion.
 Lets hope and pray for a Mavelinadu again. 
Below is an english version of famous onam chant.. 'maveli nadu vanidum kaalam'
When Maveli ruled the land, All the people had equality.
And people were joyful and merry;They were all free from harm.
There was neither anxiety nor sickness,There were no lies,
There was neither theft nor deceit,And no one was false in speech either.
Measures and weights were right;No one cheated or wronged his neighbor.
When Maveli, our King, ruled the land,All the people formed one casteless race.

Pookkalam
See all 8 photos
Pookkalam
Thiruvathira
See all 8 photos
Thiruvathira
Kadhakali
See all 8 photos
Kadhakali
Mohiniyattam
See all 8 photos
Mohiniyattam
Pulikali
See all 8 photos
Pulikali
Thullal
See all 8 photos
Thullal
Vallamkali
See all 8 photos
Vallamkali
Onasadya
See all 8 photos
Onasadya

Quote Gems : Jerry Bowyer




"Have you ever heard people say 'don't sweat the details'? 
Well, they're wrong: sweat the details. 
They have a name for people who sweat the details: millionaires."

 
by Jerry Bowyer

Gerald "Jerry" Bowyer (born 1962) is an American radio and broadcasting host who also been extensively involved in public affairs, political writing, and investment activities.

Monday, August 27, 2012

நிலவில் முதன்முதலாக காலடி வைத்த நீல் ஆம்ஸ்டிராங் 82 வயதில் மரணம்

 Neil Armstrong First Man On The Moon Dies

ஒன்இந்தியா:  ஞாயிற்றுக்கிழமை, ஆகஸ்ட் 26, 2012, 13:11

வாஷிங்டன்: நிலவில் முதன் முதலாக காலடி எடுத்து வைத்த அமெரிக்க விண்வெளி வீரர் நீல் ஆம்ஸ்டிராங் தனது 82வது வயதில் காலமானார்.
1969ம் ஆண்டு ஜூலை மாதம் 20ம் தேதி அப்பல்லோ மிமி என்ற விண்கலம் சந்திரனில் தரை இறங்கியது. அதில் இருந்து நீல் ஆம்ஸ்ட்ராங் தான் முதல் ஆளாக இறங்கிநிலவில் காலடி எடுத்து வைத்தார். இதன் மூலம் சந்திரனில் முதன் முதலாக நடந்த விண்வெளி வீரர் என்ற பெருமை அவருக்கு கிடைத்தது. பூமி திரும்பிய பின்னர் நீல் ஆம்ஸ்ட்ராங் உலக ஹீரோவானார்.
கடந்த 5ம் தேதி அவர் தனது 82வது பிறந்தநாளைக் கொண்டாடினார். கடந்த 7ம் தேதி அவருக்கு இதய அறுவை சிகிச்சை நடந்தது. அதில் இருந்து உடல் நலம் குன்றி இருந்த ஆம்ஸ்டிராங் காலமானார் என்று அவரது குடும்பத்தார் தெரிவித்துள்ளனர். ஆனால் அவர் எங்கு, எப்போது இறந்தார் என்று அவர்கள் தெரிவிக்கவில்லை.
நீல் ஆம்ஸ்டிராங் நிலவில் நட்டுவைத்த அமெரிக்ககொடி ஏற்கனவே அழிந்துவிட்டது என்பது குறிப்பிடத்தக்கது.




Self-service banking gaining currency




The e-lobby facility enables customers use alternative channels without entering the branch


Banks are increasingly launching self-service banking in the front lobby of their branches to increase customer convenience and reduce transaction time and costs.
Self-service banking in the front lobby of branches enables customers to use alternative banking channels — ATMs, phone banking, cheque deposit machine, and pass-book printer — without entering the branch, any time of the day, irrespective of whether the branch is open or closed.
The per transaction cost incurred on one customer in the physical branch is Rs 50 on an average, while e-banking costs about Rs 10 for a similar transaction.
Recently, ICICI Bank launched 25 electronic branches across 18 cities. The electronic branch, located within the brick and mortar branch, is a one-stop shop for all banking transactions. Among others, it has an interactive kiosk through which services can be accessed by swiping a debit card and provides video-conferencing with the bank’s customer care personnel.
One of the first banks to start the e-lobby facility is Mumbai-based Greater Bombay Cooperative Bank. It is offering all banking transactions to its customers through fully automated lobby banking.
Greater Bank has deployed a single machine called ‘MegaBanker’ in its lobby for 24x7 banking. Customers can use this machine, among others, to deposit cheque/cash (with real time credit to the account), withdraw cash, printing of savings and current account statements, and fake note detection.
Currently, Greater Bank has lobby banking in 17 of its existing 21 branches.
Public sector lender Union Bank of India has launched ‘UnionXperience’ branches, where customers can use alternative banking channels any time of the day, irrespective of whether the branch is open or closed. It has implemented these services in 160 branches across 10 cities, with automation through self-service machines.
“Today, more than 50 per cent of our transactions get done via e-banking. This saves time and costs for the bank,” said Lalit Sinha, General Manager, Alternate Delivery Channel, Union Bank of India.
A senior ICICI Bank official said the bank wants to expand its technology platform beyond ATMs and desktop devices to mobile and tablet devices.

CHALLENGES

Replenishment of cash in the ATM machines and infrastructure are major problems, Sinha said.
“Indians are more comfortable with human interface and hence the customer adaptation to alternate channels is slow,” said Narendra Behere, CEO, Greater Bank.

RBI widens StanChart HSBC probe to other foreign banks




PTI : Newdelhi :26 Aug 2012
The Reserve Bank has widened its probe into the affairs of British banking giants HSBC and Standard Chartered to a host of other foreign banks for alleged breach of controls against money laundering and terror financing.
Besides, capital market regulator SEBI may also join the investigations, as there are concerns of funds from these banks being routed to the stock market through foreign investors and other entities, sources said.
Standard Chartered Bank (StanChart) is listed in the Indian stock market.
A senior regulatory authority official said the inspections are being conducted to ensure these banks’ compliance to various fair banking norms in the wake of certain global events.
However, executives at some of the banks admitted that queries being raised by the regulators are serious in nature and particularly aimed at ensuring effective controls against money laundering and financing of terrorism, among others.
The investigations by Indian agencies follow developments in the US, where a host of European banks, besides StanChart and HSBC, are being investigated for their alleged role in exposing the American financial system to money laundering and terror financing risks.
Sources said Indian investigations would not be affected by the recent settlement reached by StanChart in the US, wherein it agreed to pay $340 million to settle charges that it entered into secret transactions involving $250 billion with Iran despite sanctions against that country.
The settlement has been reached only with respect to an investigation by the New York state banking regulator, the New York Department of Financial Services and does not cover the probes being conducted by the various federal regulators in the US, including the Treasury Department.
Last week, the Indian government informed Parliament that Reserve Bank of India is scrutinising the Anti- Money Laundering (AML) and Know Your Customer (KYC) systems of StanChart and HSBC.
Besides, Financial Intelligence Unit-India (FIU-IND) has also initiated a fact—finding exercise related to HSBC’s operations in India and its compliance to AML and CFT (Counter Financing of Terrorism) regime.
The RBI is also seeking details from British financial sector regulator FSA (Financial Services Authority) about the two UK—based global banking giants, who have significant presence in India and whose outsourcing of key oversight jobs to India has come under the US scanner in separate probes related to issues like money laundering and terror financing.

ICICI Bank pays Rs 53 lakh in gold coin duty evasion case


PTI : Newdelhi :26 Aug 2012
ICICI Bank has paid Rs 53 lakh in a duty evasion case relating to manufacture and sale of gold coins.
“ICICI Bank being the brand owner has admitted the facts 
and implication (in the duty evasion case) and paid an 
amount of Rs 53.08 lakh towards their duty liability including 
interest of Rs 7.29 lakh,” Central Excise Commissionerate 
(Kolkata) said in a statement.
The duty evasion on manufacture and sale of gold coins by the ICICI Bank was discovered by the Anti-Evasion Unit of the Kolkata Commissionerate, it added.
Although the ICICI Bank has admitted the facts and paid Rs 53 lakhs, it said, “further investigation is in progress“.
During inquiry, the statement added, it was “revealed that ICICI Bank has manufactured branded gold coins through job-worker for their corporate customers and sold/redeemed through their branches located throughout India during March 1, 2011 to March 16, 2012 without payment of duty...and thereby evaded central excise duty to the tune of Rs 45.79 lakh”.
The duty was imposed under Rule 12AA of the Central Excise Rules, 2002 which deals with registration, maintenance of accounts, payment of duty etc. with regard to manufacture of jewellery on job work basis.
Job-worker has been defined as a person engaged in manufacture or processing of article of jewellery on behalf and under the instructions of the brand owner

SBI management mulls working on Sundays



PTI :Monday, August 27, 2012, 12:16 [IST]


State Bank of India may have its branches open on Sundays to help improve efficiency, a top bank official has said.
"Possibly we would like to see Sunday working which would increase the time available for doing banking and increase the business," bank chairman Pratip Chaudhuri told analysts on a conference call organised by the brokerage firm Edelweiss Securities.
The country's largest bank had last year taken everybody by surprise by opting to keep all its branches open on October 2 to compensate for a day's business loss due to a technical snag.
The bank management was happy with the foot fall and the staff turnout at the branches at that time in spite of it being a Sunday as well as a national holiday - Gandhi Jayanti.
Notably, many private banks, which control only a minority share in the banking operations, do keep their select branches open on Sundays for customer convenience, even though technologies like internet banking have reduced the need.
Being open on Sundays is said to help the branches attract the new-age working class customers where both the spouses in a household work and struggle to do banking transactions during the week.
SBI, which has almost 14,000 branches across the country, counts on its large chunk of savings account deposits (at over 38 percent) for higher margins.
SBI had carried out widely appreciated 'Parivartan' programme in early part of this decade, which helped it stay relevant in changing times and maintaining lead in the market.
During the call, Chaudhuri said the costs incurred on developing physical infrastructure and network does not hit the bank as much as staff costs.
In order to improve efficiency, it will therefore try to delegate routine responsibilities currently done by officers to the low cost junior employees, he said.

Work within framework or do biz elsewhere: RBI tells SBI chief

K.C. Chakrabarty
K.C. Chakrabarty

R RaviKumar :Chennai:BL:27 Aug 2012


The central bank today came down heavily on SBI Chairman, Pratip Chaudhuri’s statement on phasing out of CRR, saying either comply with or do business elsewhere.
Responding to a question on the sidelines of a financial conference on systemic risk, organised here by Great Lakes Institute of Management, the RBI Deputy Governor, K.C. Chakrabarty, said the banks must work within the framework prescribed by the regulator.
“If the SBI Chairman is not able to do the business in this regulatory environment, he has to find out some other place.”
The SBI Chairman recently said, “CRR doesn't help anybody. While CRR is not applied to insurance companies, NBFCs and mutual funds that are also mobilising deposits from the public, it is unfairly put on banks.
Using an analogy of a tree catching fire, which spreads across the forest, Chakrabarty said, “SBI is too big to fail”. If it is not protected, the risk may catch other banks leading to a systemic failure


Saturday, August 25, 2012

Madras 373



Madras Bank

Will the bull run in gold continue?


Will the bull run in gold continue?


Saturday, August 25, 2012, 11:24 [IST]

Gold futures in India touched a historic peak this week, on sustained buying support and largely tracked global markets. Here are a few factors that could see further momentum in the precious metal.
Hopes of easing in Europe and the US
Hopes of further quantitative easing in the US or Europe could see fresh buying in the overseas market, which could further push the prices of the precious metal. 
How the European Central Bank and the Federal Reserve manage easing measures would largely determine the trend of the metal in the next few weeks.
Rupee behaviour
If the rupee gets stronger, as it has been showing signs of, domestic gold could get cheaper, as the currency is one of the two important variables that determine the price of domestic gold. Over the last few days, the rupee has rallied in line with strongequity markets. 
However, should the rupee lose ground against the dollar, brace yourselves for a further rise.
Domestic consumption
India's is one of the largest consumers of gold and domestic consumption also drives international prices. India's investment and jewellery demand for Q2 2012, fell to 181.3 tonnes, down from 294.5 tonnes in Q2 2011, the World Gold Council has stated in a release.

At 56.5 tonnes, investment demand was less than half the level in Q2 2011. Indian jewellery demand also experienced a noticeable drop to 124.8 tonnes, down 30% year-on-year from 179.5 tonnes.
If the falling consumption trend continues do not expect a substantial bull run in gold.
International economic environment
A dismal economic environment would continue to see investors parking money in gold, which has over the last couple of years, easily beaten returns from risky assets including equities. However, if the economic environment improves, be rest assured that equities would outperform gold in the short run at least. 
However, the odds are heavily in favour of the economic environment globally being dismal at least for the next couple of years.
All said and done, there has been a significant rally in gold in the last few years and the near historic highs, would ensure that substantial gains are capped at least in the short to medium term.

Thursday, August 23, 2012

Madras Day celebrations at the Government museum in Chennai





Higginbotham's Bookstore In Mount road
The Hindu :Chennai :23 Augg  2012

Madras Day celebrations at the Government museum in Chennai took off on a dark note as the exhibition in honour of the day was inaugurated in the absence of electricity. Attributing the reason to fault in a major transformer, along with failing power backup, the organisers had a tough time in getting the programme to run smoothly.
But that did not dampen the enthusiasm of people attending the exhibition. Apart from historical and anthropological enthusiasts, it was a day out for several school children as well.
When asked about the assortment of articles on display, S. S. Jawahar, the commissioner of museum theatre, said, “The articles on display here give a three dimensional effect of the yesteryears of Madras. Other exhibitions offer photographs, but we have the actual articles or models of objects.”
Apart from a wide variety of sketches and photographs documenting moments of Madras’ history, the exhibition had on display the first radio transmitting set, models of gun carriages, mortar cart, along with unexploded as well as fragments of Emden shells used as artillery.
The exhibition was inaugurated by assembly speaker D. Jayakumar and N. R. Sivapathy, the minister for school education, sports and youth welfare. It will be open to the public for the entire week.

THE FORGOTTEN STORY OF ROYAPURAM STATION


 BY  Shri .V.SUNDARAM I.A.S.

Recently, the Royapuram Railway Station in Madras was very much in the news. The renovated railway station building was declared open by Union Minister of State for Railways Velu on 2 October 2005. Many people may not be aware of the fact that this railway station was inaugurated by Lord Harris, the Governor of Madras on 28 June, 1856 - one year before the onset of Indian Mutiny in 1857. Pycrofts was then the Chief Secretary of Madras.



OLD ROYAPURAM RAILWAY STATION, NORTH MADRAS


RENOVATED ROYAPURAM RAILWAY STATION

This recent news item made me delve deep into my personal collection of antiquarian books, journals and newspapers to gather facts relating to the history of the introduction of railways in the erstwhile Madras Presidency in the second half of the 19th century. Such an exercise is an excursion not only into economic history but also social history. The social scene grows out of economic conditions, to much the same extent as political events, which in their turn, grows out of social conditions. Without social history economic history will be barren and political history unintelligible. It is exhilarating to look at the dusty records of our ancestors, remote and recent, and to see how they lived, how they laughed and how they wept. Viewed in this light event dustier records of the dead take form, colour, gesture, passion and thought. As WinstonChurchill puts it 'History, with its flickering lamp, stumbles along the trail of the past, trying to reconstruct its scenes, to revive its echoes and kindle with pale gleams the passion of former days'. 

The first Madras Railway Company was formed in London on 8th July, 1845, with the aim of constructing rail lines in Madras Presidency. The company approached the East India Company for support for construction of a railway between Madras, Walajahnagar, and Arcot. Despite Mr. F. W. Simms, Director of the Railway Department recommending the project, the Court of Directors of the East India Company (E.I.C.) declined to support the project. With the East India Company showing an indifferent attitude the company became defunct.

However the mercantile community of Madras Presidency did not lose patience and continued lobbying. Finally on 7th June, 1852, the Board of Control of the E.I.C. agreed to a guarantee of 4-1/2% on the capital for the proposal. A new company also called the Madras Railway Company was registered on 26th July, 1852. Construction began and the Company opened its first section, 101.74km long, from Royapuram to Arcot (now called Wallajah Road), the titular capital of the Nawab of the Carnatic on 28th June, 1856.

The Railway Line from Royapuram to Arcot was inaugurated by Lord Harris, Governor of Madras on 28th June 1856.



In The Illustrated London News dated 6 September, 1856 (a priceless copy in my possession) a news item entitled 'Opening of the Madras Railway' was published. It contains a description of the inauguration of the Madras Railway on 28 June, 1856 by the then Governor of Madras, Lord Harris. THE ILLUSTRATED LONDON NEWS IN ITS ISSUE DATED 6 SEPTEMBER, 1856 described the function as follows: 


 
ILLUSTRATYED LONDON NEWS


LORD HARRIS (1810-1872 AD)

GOVERNOR OF MADRAS (1854-1859)
The above oil Painting was done by Sir Francis Grant in the 19th century.


'On the 28th of June the inauguration of the Madras Railway was celebrated with great state. The Right Honourable the Governor, His Excellency the Commander-in-chief, the officers of the Government and staff of the Garrison of Fort St. George with all the elite and beauty of the Presidency, honoured the Railway Company with their presence on this important occasion'.


'It was a sight long to be remembered in Madras, thousands flocking to witness the proceedings from any point from which a view of the ceremony to the train could be obtained. The company had issued invitations to about 300 of the leading members of the European society to witness the function, and to take a trip by train to Amoor, up to which place the railway is now completed: there to partake of a dinner, and to return in the evening:- another train was dispatched after the depature of the first one, to a nearer station up the line - Triveloor, which was occupied by the principal members of the native community of Madras and others who has also been invited to join the excursion.’





Royapuram station in 1856 Sketch by
Capt Barnett Fort of the Madras Army


'The sketch by Capt. Barnett Fort of the Madras Army represents the terminal station at Madras at the moment when the religious ceremony was being performed in the noble verandah of the northern side of that building. The rooms here are very elegant and most superbly furnished with handsome punkahs & most etc., the coup d' ail was very picturesque when seen as they were filled with a crowd of elegantly dressed ladies, against the light colours of whose dresses and the black of the civilian who were present at the function. The train is seen ready to come up to the platform for this party, and that for the native community which was to follow is seen already filled, and run up so as to enable its occupants to witness the inaugurations. As soon as the ceremony was completed, the party proceeded on their excursion trip. though a hot day it was not very much felt - the train, by its rapidly, making a breeze for its occupants, who found the carriages well ventilated both about above and below; and with the addition of Venetian shutters and gauze-wire binds, heat and glare were completely got rid of'.

'Arrived at Amoor, the crowds were greater than ever. The hills were covered with varied-coloured masses; the artillery guns roared their welcome to Lord Harris, who on alighting, was received by a guard of honour of the 19th Regiment and officials of the Private Railway Company, headed by Major Jenkins their manager. The guests alighting under a shamianah, or covered entrance-way to the reception stand ? the bands playing, the multitude cheering, and the bright sun shining on the brilliantly-coloured groups, formed a striking picture. Tents were pitched for the guests, who shortly assembling were led to the pavilion which had been temporarily erected for their entertainment at an elegant repast. Lord Harris proposed a toast to the success of the railway and the health of the agent and manager, Major Jenkins. His Lordship's speech was very commendatory upon the economy and expedition with which the line has been thus far completed, a distance of 65 miles in three years at a cost which he stated was estimated at about £5,500 per mile.


'It was stated by Major Jenkins in replying to his Lordship's toast, that the whole line extending to the western coast, a distance of about 450 miles was in course of construction, and that considerable progress had been made upon it. Its course, he stated, lies through Vellore, Salem, Coimbatore, round of the foot of the Neilgherry Hills, terminating at Naypoor, a small port on the Western Coast, a little to the south of Calicut. After some other toasts & c., a signal was given that it was time to prepare for a return to Madras and the shades of evening were beginning to close soon after the train started on its return'.

Disinterested intellectual curiosity is the bed-rock of a real civilisation. Social history constitutes one of its best forms. At bottom, the fascination of history is imaginative. Our imagination longs to see our ancestors as they really were going about their daily business and daily pleasure.