Friday, October 24, 2014

Jayalalithaa should punish forms of sycophancy

Taking one’s own life because of the misfortune suffered by a political leader or a public personage is nothing new in Tamil Nadu, or even Andhra Pradesh and Karnataka. So it came as no surprise when, according to the AIADMK, 193 people committed suicide on hearing of then Tamil Nadu chief minister J Jayalalithaa’s brief incarceration in a Rs. 66-crore disproportionate assets case. But in what seems like a gesture condoning these deaths, the AIADMK leader has announced a cash relief of Rs. 3 lakh to the families of those who died. It does not end here. She also announced a payment of Rs. 50,000 to the three who tried to commit suicide. Attempted suicide is a criminal offence under Section 309 of the Indian Penal Code and so in effect Jayalalithaa is supporting a criminal act. To be rewarded for showing such ‘devotion’ to a leader will only encourage this pernicious trend.
When former TN chief minister MG Ramachandran died in 1987, around 30 of his followers were alleged to have committed suicide. When Kannada actor Rajkumar died in 2006 there were rumours that many of his followers had taken their lives. When the then Andhra Pradesh CM YSR Reddy died in a helicopter crash in 2009, there were reports that more than 100 people died of ‘shock’. In a sub-culture where the popularity of a leader is measured by the vandalism his/her followers indulge in or by the number of followers who either hurt themselves or commit suicide when their leader suffers a setback or has died, the AIADMK’s gesture may seem perfectly rational to the faithful. The move appears to be an attempt by Jayalalithaa to exploit the sentiments of the people. More dangerously, her ‘generosity’ comes across as a reminder to her followers that mindless devotion will be compensated.
Jayalalithaa is a popular leader who enjoys enormous support in Tamil Nadu. As a progressive leader, she should have no truck with this practice and should take steps to end this trend. She is an able administrator and has done commendable work for the disadvantaged. But this is a blot on her copybook which she must erase without delay.
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Father, son and the holy Court

In 1967, when U.S. President Lyndon B. Johnson appointed the son of U.S. Supreme Court Judge Tom C. Clark as the Attorney General, Clark promptly resigned from his post. This was because an Attorney General will have to make frequent appearance in the court in which his father will be one of the judges adorning the bench and in that Supreme Court all the nine judges sit together. But in India that has not been the case. Right now the matter regarding the appropriateness of a lawyer appearing in a court in which his near relative is a judge has gained significance in the context of Fali S. Nariman, a leading senior advocate of the Supreme Court, continuing to appear in cases before the Supreme Court in which his son Rohinton F. Nariman has become a Judge since July 2014. While some criticism was aired regarding this in public, Mr. Nariman dismissed complaints maintaining that there is no legal bar for such appearance and said that everyone is equal before the law.
What rules say
Until 1961, in India, there were instances in which lawyers appeared in the same court over which their relatives were presiding. But after the Advocates Act, 1961 empowered the Bar Council of India to frame rules on the matter, such incidences have become rare. Under Rule 6 of the norms established by the Bar Council, no lawyer can practise in a court where any of his relatives functions as a judge. The list of such relatives included his/her father, grandfather, son, grandson, uncle, brother, nephew, stepbrother, husband, wife, daughter, sister, aunt, niece, father-in-law, brother-in-law or sister-in-law. However, there have been controversies as to whether the term ‘court’ mentioned in this Rule refers only to the court of that particular judge or the entire court where the relative works.
During the early 1980s, this rule came up for interpretation before the Karnataka High Court. Pramila Nesargi, a woman advocate who got married to Nesargi, a Karnataka High Court Judge who had lost his wife at that time, appeared before the court of Justice A.S. Bopanna. She was not a senior advocate at that time and as her name did not find mention in the vakalat filed in that case, the Judge directed her to file a vakalat to represent her client. The next day when her name appeared in the cause list, the judge who heard her case refused to allow her to appear before any judge in the Karnataka High Court.
He ruled: “The Bar Council prohibits a lawyer from appearing in a Court where a close relative works as a judge. While the term ‘court’ does not specifically refer to all the courts in a particular High Court, we should be strict in respect of a wife. A wife has an intimate relationship with her husband. Many matters discussed among judges would reach her ears. When a woman who has access to confidential matters in respect of a Court is allowed to practise in the same Court as a lawyer, it can spell danger.”
Subsequently, the matter was raised before the Supreme Court which ordered notice to the Bar Council. But the case was not taken to its logical end and the matter became infructuous as the counsel involved became a senior advocate and the Judge concerned was superannuated. Yet the controversy over the interpretation of the rule still continues to haunt the courts. When Justice P. Balakrishna Iyer became a judge of the Madras High Court, his son advocate P. B. Krishnamoorthy shifted his practice to another State. There was also a strange practice adopted by a lawyer in the early 1970s. The said lawyer used to sign hundreds of memos of appearances in bail applications so that those matters will not go before his father-in-law judge, who was known to be strict regarding granting of bail.
When Justice V. R. Krishna Iyer became a Supreme Court judge, his son who was a lawyer as well, chose not to practise in any court in India opting for private employment. Justice V. Sivaraman Nair of the Kerala High Court had worked as a junior of Justice Krishna Iyer. But as soon as his daughter and daughter-in-law started practising in the Kerala High Court, he requested the President of India to transfer him to another State.
Justice Leila Seth, a former Chief Justice of Himachal Pradesh writing in her autobiography recalled her experience in the Patna High Court regarding the two kinds of ‘practice’ the Bar had adopted.
She wrote: “I heard people talking about ‘Uncle Practice’ and ‘Lal Jhanda’. I wondered what all this was about. I learnt that, since a son was not permitted practice in his father’s court, if you did not want the matter to be heard by that court, you briefed the son and thus stopped the matter from going before the father; you had put out a warning ’Red Flag’. This misuse of a rule that had been incorporated to prevent partisan decisions was apparently quite prevalent, and some young lawyers even managed to make a living out of it. It was also rumoured that certain judges favoured the sons of their brother judges, and so the ‘Uncle Practice’ thrived.”
In S. P. Gupta’s case (1981) dealing with the judges’ transfer issue relating to close relations taking undue advantage of a sitting judge, the following way out was suggested to avoid embarrassment: “We have to take into account the advice given by the CJI in one of the seminars that where close relations of a Judge or the Chief Justice practise in the same court and are likely to gain undue advantage, the concerned judge should himself, in obedience to the keen sense of justice which every Judge possesses opt to be transferred to some other High Court.”
In 1997, all the judges of the Supreme Court assembled under the Chairmanship of Chief Justice J. S. Verma and adopted a resolution on ‘The Values in Judicial Life’. That resolution stated that a judge should prohibit a close relative of his from appearing in his court. It also stated that no relative of his should practise law while staying in the Judge’s house. Markandeya Katju, in his judgment in Raja Khan’s case, sounded a warning on the ills of kith and kin being allowed to practise in the same court as their relatives. He said: “Some Judges have their kith and kin practising in the same court, and within a few years of starting practice the sons or relations of the Judge become multimillionaires, have huge bank balances, luxurious cars, huge houses and are enjoying a luxurious life. This is a far cry from the days when the sons and other relatives of Judges could derive no benefit from their relationship and had to struggle at the bar like any other lawyer.”
What is the way out?
When Justice R. M. Lodha took over as the Chief Justice of India, some presspersons raised a question as to whether it was not possible to prohibit relatives of a judge from practising as lawyers in the same Court. He replied that it was up to the Bar to find a solution to the problem. He also dismissed a public interest litigation filed by advocate M. L. Sharma seeking a ban on the relatives of judges practising in the same courts.
With the controversy reviving in the context of Mr. Nariman appearing in the court where his son is a judge, the Bar Council of India must be called upon to suitably amend relevant rules and uphold the faith of the common man in the judiciary.

Thursday, October 23, 2014

India will become another export hub for us: Gamesa chief

Spanish wind turbine company, Gamesa, is bullish on India’s wind energy sector. The 2.4-billion euro company expects to sell turbines adding up to 650 MW this year in India which is already its biggest market.
In a recent interview with a group of visiting Indian journalists at the company’s headquarters in Pamplona, Spain, Gamesa’s Executive Chairman Ignacio Martin said that the local unit in India could not produce enough to meet domestic demand. Mr. Martin joined Gamesa in May 2012 and has overseen rapid growth in the last couple of years. Excerpts:
Could you elaborate on Gamesa’s plans for India?
India as a country is very encouraging for us. We believe that India’s installed capacity for power generation has to double from the present 260 giga watt over the next 15 years and that renewables will play a very important role in this growth. We can say that Gamesa is today the market leader in India. We believe that with our capabilities in promotion, development and construction of turbines with high local content of more than 80 per cent our position is unique and we can consolidate even further in India. We are moving very fast. In 2013 our production was around 400 mega watts and this year we expect to close at around 700 MW and we hope to have double-digit growth for each of the next five years. While this is about onshore farms, we also have plans for offshore business in India. In the next five years we would be investing more than 100 million euros in India. We need to increase our manufacturing capability within the country, develop our supply-chain and increase our land bank in order to promote and develop new wind farms.
When you say you will invest in increasing your land bank, does this mean that Gamesa will be more aggressive in promoting wind farms rather than merely selling turbines?
Well, today we are into both activities; we have our own land bank and also manufacture turbines. We need to do both things in order to have a profitable business in India. So our offering is promotion, designing, manufacturing, selling and operation and maintenance of turbines. This gives us an advantage over some of our competitors who are not present across the value-chain.
The best wind generation sites in India have all been exploited by now. How do you plan to meet your double-digit growth target given this constraint?
In order to have competitive wind farms you need either superior machines which are able to capture energy from low winds — you need larger rotors, which is what we are doing in India — or, we have to intensify our efforts to identify still untapped locations that have good wind velocities.
You have been in India for five years now. Can you list out your top three challenges in this period?
I’ve been running the company for 2 ½ years only now, so I can list out only what I faced in this period. Initially, the rules were not clear in India; there was also confusion over generation based incentives and their continuation. On the one hand, the country needs to increase energy generation but on the other, there are no clear rules to support investment. Second, until the recent elections there was no clarity on whether there would be a government that would help the country meet its potential. After the new government came in, we felt very comfortable with its focus and orientation. The third challenge that we faced was the rupee’s weakness which was a matter of concern because we still don’t have 100 per cent local content. Finally, even though the potential is huge, the lack of infrastructure in terms of transmission and distribution lines, roads and general infrastructure in the country is still a question mark.
Chinese companies that are entering India plan to come with financial support for customers who buy their turbines. Do you think it’s a good strategy and would you do something like that?
Well, we would like to see good financing in India for our business but it is clear it does not exist. Our Chinese competitors are indeed backed by their banks. We would like to see support in India in the form of soft loans for wind farms. But offering financial support to our customers is not possible because it is not our business. We are not a finance company but we are in a position to find partners who could be interested in going with us into projects.
What are you doing in terms of developing products tailored to the Indian market?
We are customising design for India and are developing special machines for the market since it is important to us. The challenge is now to develop machines that can generate even in low wind-speed locations. We will be introducing the next generation G 114 range of machines with longer rotors in the last quarter of 2015 and this will be our key machine for the next 3-4 years. Additionally, we are planning to increase the height of the towers from the present 93 to 104 metres next year and potentially 110 metres at the same time that we launch the G 114 machines. Thus, between the larger rotors and the higher towers, the annual energy production can increase significantly. Technology is the answer to be much more competitive in India. In the long term, by 2020, we should have machines with 2.5 MW nominal power capacity.
Do you plan to enter the solar sector?
Well, this is something we are looking at very seriously because Gamesa also has expertise in solar — it was part of our portfolio sometime ago. There could be a good opportunity within India for solar and we are discussing this seriously and could eventually invest.
What has been your experience in localising the supply-chain in India?
The localisation right now is 74 per cent which is probably the highest among foreign players in India. The plan is to increase this to 85-90 per cent in the next 3-4 years. This is part of our strategy to maintain our competitive position and avoid some of the currency issues we’ve faced in the past. We would also like to localise as much as we can so that in the next 3-5 years we can make India a hub for exports for Gamesa. Our experience with localising the supply-chain has been good until now. We’ve tried to maintain a good mix between local suppliers and foreign suppliers producing in India.
Is it realistic to assume that India will become a supply base for Gamesa worldwide and if yes, by when?
Our plant in India is today focussed on producing to meet local demand which is growing so fast. Our capacities are pushed to meet demand but if for some reason local demand falls and we do indeed get spare capacity some time in future then we will export from India. From a quality perspective, India is in an excellent position to export to Gamesa’s markets worldwide.
How do India and China compare for Gamesa in terms of market, supply chain and so on?
In terms of business, the market in China is much bigger than in India. We are talking about 16 GW compared to 3.5-5 GW we may have in India. However, the quality requirements in China are different from that in India. The quality of turbines that customers demand in China is, I would say, sometimes not high level. What it means is that in some cases, we are not competing because we believe that our quality is much better than what is demanded in China. In India, in order to be competitive you need the right quality at the right cost and of course, offer the right service. So even if the overall market is big in China, our share is small compared to competitors. We’ve been in China for the last 10 years and developed a very good supply chain which has helped us to make it a hub to export to other countries. The supply base in China is very good in terms of quality, reliability, price and support. India, as a market, is a little behind since we entered late but it is catching up in our portfolio. Once local demand is met, India will become another export hub for us. There is no reason why the Indian supply-chain cannot compete with that in China.
What do you think is the ideal renewable energy share of the overall portfolio for a country like India?
I’m not an expert but I would say that solar and wind are very promising in India because the country is very good in both resources. In developed countries, we are talking of a 20 per cent share for renewables in the total matrix; for a country like India, there is a chance to have a much bigger share especially given that outside coal, the resources of India for generation are very small. So the competitiveness of renewables is very high. So, I think a share of 35-40 per cent for renewables would be good to aim at.
(The correspondent was in Spain at the invitation of the company)

Tuesday, October 21, 2014

35 files uploaded -- contains sbi associate po, ssc , KUNDANJI PAPERS


I am giving the link for files downloaded from KUNDANJI PAGE -- SSC, SBI ASSOCIATES PO AND OTHER PAPERS.

contains current affairs from 1.10 to 18.10.2014 ALSO



Sunday, October 19, 2014

IBPS PO questions asked

General Awareness Questions:

1.    According to census 2011Lowest density state - Arunachal Pradesh

2.    Which country does not belong in European Union but use Euro as a currency - Vatican city

3.    Who won bronze medal in swimming: Sandeep Sejwal

4.    Jai hind slogan given by –  Subhash Chandra Bose

5.    Capital of Turkey: Ankara

6.    Max money that can remitted to Nepal from any of the NEFT-enabled branches in India – Rs 50,000

7.    In NSDL ,word ”S” stands for - National Securities Depository Limited 

8.    SBI tag line: Pure Banking Nothing Else

9.    Santi Swaroop Bhatnagar award in mathematic: Dr. Kaushal Kumar Verma

10.  Bank celebrate 150 years with Sri Lanka: SBI

11.  Cheque amount written is called exchange of notes done by customer

12.  Overnight money needed by bank from RBI on which rate bases: MSF

13.  Poverty elevation minster – Ramvilas Paswan

14.  CPI full form: Consumer Price Index

15.  Urban dev and Parliament minister: Venkaiah Naidu

Computer Questions 

1.    A card like a plastic credit card used for the expansion of computer capabilities is:expansion card/ pendrive etc.

2.     To view how a document appears in MS Office: print preview

3.    What is WINDOWS EXPLORER: File Manager

4.    Mouse behaves like, when it turns upside down - track ball

5.    Transfer of applications from memory to hard disk?

6.    When a computer is switched on, the first instruction performed by RAM is from: ROM

7.    Shifting from Windows 98 to windows XP is - upgrade

8.    A saved program stores in :hard disk

9.    The vertical lines on a product: barcode

10.  Palm operating device - PDA

11.  GUI (Graphic user Interface means) – user friendly

12.  Pass words are used for - unauthorized access in to the system

13.  Pass accessing - pass word rights/access rights

14.  Not a malware  - data spy

15.  The first part of the URL which is used for access in to the web - protocol

16.  In MS Word to reverse the action of UNDO - Redo

General Awareness Questions 

1.    Currency of Spain – Euro

2.    Jan Dhan Yojana Benefits – Overdraft Loan in Bank Account

3.    Foreign Institutional Investor – FII

4.    Writer of The Mother I Never Knew - Sudha Murthy

5.    L stands in SLR- liquidity

6.    Money laundering is done to- Avoid tax

7.    Abhinav Bindra wins Two Bronze & Retirement

8.    When did Manalapan reach Mars - 24 September 2014

9.    In how days KYC custom fill identity proof – 5 working days

10.  Nuku’alofa is the capital of – Tonga

11.  Nitin Gadkari related to which ministry - Transport

12.  Which Indian movie selected for  Oscar Award 2015  - Liar's Dice

13.  PPF limit change from 1 lakh to 1.5 lakh

14.  Largest hydroelectric power plant in India – Koyna

15.   Fusion points agreement 118 countries related to –

16.  What is 'M' in MIFF- Mumbai (MIFF- Mumbai International Film festival)

17.  Heidelberg Cement India': - Ashish Guha

18.  Mogadishu is the capital of – Somalia

19.  Basic saving bank deposit account maximum credit amount in a year – 1 lkh

20.  NIM full form- Net Interest Margin

21.  MTSS- Money Transfer Service Scheme

22.  kisan vikas patra was closed by govt. earlier why  - to avoid Money laundering activities

23.  Vishal Sikka is CMD of which company - Infosys

24.  One question on Negotiable Instruments Act, 1881

25.  Rbi issued the permission to Muthoot finance to set up - white label ATM

26.  SBI life insurance partnered with – BNP Paribas Cardif 

27.  Merchant payments in India is controlled by - SEBI

28.  According to census 2011 Every ____ in the world population is Indian.

29.  Who gave the principle of objects submerged partially or fully in water – Archimedes

Banking Awareness Quiz

1.    Interest payable on Savings bank account is :
(1) not regulated by RBI
(2) regulated by State Govt
(3) regulated by Central Govt
(4) regulated by individual banks
(5) None of these

2.    Money lend for 15 days or more inter-bank is called:
(1) Call money                 
(2) notice money
(3) term money                
(4) All of these
(5) None of these

3.    The Statutory Liquidity Ratio (SLR), the amount of liquid assets such as cash, precious metals and other short-term securities are kept with:
(1) RBI                             
(2) Individual banks          
(3) Finance Ministry         
(4) A bank designated by RBI
(5) None of these

4.    The rate of interest, banks charge to its main/major and prime; customers is popularly called as
1) Prime Lending Rate     
2) Repo Rate 
3) Cost of Fund                
4) Risk Premium  
5) Reverse Repo Rate

5.    Micro Credit or Micro finance is a novel approach to banking with the poor. In this approach bank credit is extended to the poor through-
(1) Self Help Groups                                            
(2) Anganwadees
(3) Cooperative Credit Societies             
(4) RBI                             
(5) None of these

6.    Fiscal Responsibility and Budget Management Act (FRBM) concerns:
I. Fiscal Deficit                             
II. Balance of Payment                
III. Revenue Deficit
(1) Only I                          
(2) Only II                         
(3) I & II                            
(4) I & III                           
(5) All of these

7.    Which of the following cannot be called as a Debt Instrument as referred in financial transactions?
(1) Certificate of Deposits          
(2) Bonds
(3) Stocks                                   
(4) Commercial Paper
(5) Loans

8.    Whenever RBI does some open market operation transactions actually it wishes to regulate which of the following?
(1) Inflation only
(2) Liquidity in economy
(3) Borrowing powers of the banks
(4) Flow of Foreign Direct Investment
(5) None of these

9.    Expand the term LRMT?
(1) Liquidity Risk Monitoring Tools
(2) Liquidity Ratio Monitoring Tools
(3) Liquidity Rate Monetary Tools
(4) Liquidity Ratio Monetary tools
(5) None of these

10.  Bank assurance is –
(1) an insurance scheme to insure bank deposits.
(2) an insurance scheme exclusively for the employees of banks
(3) a composite financial service offering both bank & insurance products
(4) a bank deposit scheme exclusively for employees
(5) None of these

11.  The objective of Know Your Customer (KYC) norms is?
(1) To give boost to bank deposits                                             
(2) To safeguard bank advances
(3) To monitor transactions of suspicious nature            
(4) Both 1 and 2
(5) None  of these

12.  Recently RBI has issued draft guidelines for setting up small banks and payment banks. The minimum paid-up capital requirement of both payments banks and small banks is 
(1) Rs. 50 crore                            
(2) Rs. 20 crore                
(3) Rs. 100 crore
(4) Rs. 40 crore                            
(5) Rs. 500 crore

13.  Max money that can remitted to Nepal from any of the NEFT-enabled branches in India – 
(1) Rs 50,000                               
(2) Rs 10,000                   
(3) Rs 20,000
(4) Rs 25,000                               
(5) Rs 5000

14.  The letter ‘F’ denotes which of the following in the term IFRS.
(1) Formative                   
(2) Formal
(3) Functional                   
(4) Fiscal
(5) Financial

15.  Which of the following rates is not decided by RBI?
(1) Bank Rate                  
(2) Repo Rate
(3) Reverse Repo rate     
(4) Prime Lending Rate
(5) Cash Reserve Ratio

16.  Consider the following in context with the CVV or Card security code of an ATM or Credit card:
(A) Magnetic Stripe
(B) Front of the in embossed or printed digits
(C) Back of the card as a separate group of 3 digits to the right of the signature strip.
At which among the above locations CVV or Card security code of an ATM is found?
(1) A & B
(2) B & C
(3) A & C
(4) All of the above
(5) None of these



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