Wikipedia focusing on India this year

Source :PTI:The Hindu:Doha:Nov 7,2011

One of the world's most popular websites Wikipedia has turned its focus on India this year, and is working to reach out to people in the country as part of its expansion plans.

Wikipedia founder Jimmy Wales said that the free internet encyclopedia has its staff working in India conducting studies and outreach exercises.

“This year our focus has been India. We have a few people on the ground in India; they're there helping in solving technical questions, with outreach to universities, and PR, letting the public know that Wikipedia exists in all those Indian languages,” he said here.

Wales, the brain behind world's fifth most popular Website, was in Qatar to attend the World Innovation Summit for Education.

He said his organisation was carrying out pilot studies in India and that it intends to use the learning experience gathered from the other regions of the country as well.

PILOT PROJECTS

“So those are just some pilot projects in India that, as we learn from those, we'll know what we're going to do in other geographies,” Mr. Wales said on the sidelines of the summit.

“And in our five-year strategic plan, we did identify the Middle East and North Africa as key areas that we wanted to move forward in,” he said.

Asked about the role played by social media in the Arab Spring, Mr. Wales said he believed that it did make a lot of contribution to the uprisings that began early this year and have already toppled three entrenched regimes.

Validity of cheques to be three months

Source :The Hindu :C. GOURIDASAN NAIR: Nov 7,2011

The Reserve Bank of India (RBI) has decided to reduce the validity of cheques from the 

present six months to three months from April 1, 2012.

Through a circular (No. DBOD.AML BC No. 47/14.1.001/2011-12) issued on November 4, the RBI has asked chairmen and chief executive officers of all scheduled commercial banks (excluding regional rural banks) and local area banks not to make payments against cheques/drafts/pay orders/banker's cheques bearing dates beyond three months of the date of presentation of such instruments. 

The banks have also been asked to notify their customers about the change in the validity of these banking instruments by printing or stamping on cheque leaves, drafts, pay orders, and banker's cheques issued on or after April 1, 2012, suitable instructions ensuring compliance with the decision to reduce their validity.

At present, cheques and other instruments issued on a particular date can be held back for up to six months and need be presented only before expiry of the six-month period.

However, the Government of India has notified the RBI that some sections of the bank customers were using the cheques and other instruments as equivalent to cash during this six-month period.

“The Reserve Bank of India is satisfied that in public interest and in the interest of banking policy, it is necessary to reduce the time within which cheques/drafts/pay orders/banker's cheques are presented for payment from six months to three months from the date of such instrument. 

Accordingly, in exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, the Reserve Bank hereby directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker's cheques bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument,” the RBI circular said.

Banks to open branches in under-banked districts by 2012

Source :PTI:The Hindu:Nov 7,2011

The Finance Ministry has asked all banks, including private sector lenders, to open branches in locations with population of more than 5,000 in the under-banked districts by September 2012.

RBI has identified 296 districts, which are under-banked, spread across 18 states and union territories.

“Such branches could initially have lesser staff, say 2 persons, with ATM facilities,” Finance Ministry said in its recent guideline on financial inclusion.

The staff strength could be increased as the business grows, it said.

The new bank branch opened would also provide banking services in the adjoining areas.

“While planning for branch expansion, it may be seen that in the unbanked areas the branches are available within a radial distance of 5 km,” it said.

As per the branch authorisation policy of RBI, prior approval of the central bank is not required to open branches in Tier-III to Tier-VI areas.

In fact, opening bank branches in the under banked districts of the under banked states would entitle the banks to seek branches in Tier-I towns under their annual branch authorisation plan.

Such a branch would be assigned a service area by the State Level Bankers Committee covering one or more Gram Panchayats, it said.

In other districts, it said, the banks must try to open as many brick and mortar branches, in their service areas, in habitations having population of 10,000 and above by September 2012.

It is to be noted that only about 5 per cent of the nearly six lakh villages in the country have bank branches.

With the Financial Inclusion Plan under implementation, around 73,000 villages, having population of 2000 and above, would be provided facilities for banking services by March 2012.

As of June 2011, banks have opened banking outlets in 1.07 lakh villages up from just 54,258 as on March 2010. Out of these, 22,870 villages have been covered through brick and mortar branches, 84,274 through business correspondents outlets and 460 through other modes like mobile vans, etc.