BOI Taarangan June 2017

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2017

Bank of India’s Quarterly House Journal June 2017

PROJECT CONNECT-SAMPARK GHAR-GHAR DASTAK MAHOTSAV HUM HONGE KAMYAAB CAMPAIGN

AREA MANAGER STAR PRIME

STAR SANJEEVANI SCHEME STAR SAMADHAN SCHEME

STAR EKLAVYA

ĂŁÂ™Â™Â„Ă˜Â™ Â?™„jŒ™„ jΪ f}™¨ŒÂ€Â™ (A Government of India Undertaking) …™Â&#x; jÂŚ d™¢}™×å e Âƒv‚™™ jÂŚĂ› ƒ¸ãÂ™Â™ÂŒÂ™Ă› ÂƒĂ˜Â™Â€Â™Â™ĂŽĂ› l™Â?ĂŽ}™ƒ‘™jΪ

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CONTENT

A Quarterly Bilingual House Journal of Bank of India d jÂŚ q™œ|™ Volume: June 2017

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Bank of India’s Quarterly House Journal June 2017

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PROJECT CONNECT-SAMPARK GHAR-GHAR DASTAK MAHOTSAV HUM HONGE KAMYAAB CAMPAIGN

AREA MANAGER STAR PRIME

STAR SANJEEVANI SCHEME STAR SAMADHAN SCHEME

STAR EKLAVYA

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¬¸¿œ¸¸™ˆÅú¡¸ Ÿ¸¿”¥¸ /Editorial Board Ù ¡q j § l ~Ù ¡j§ { l ~Ù Ù q j§Ü q j § ¡Ï o Ï } Ï ~± ¡| j§ Ï ~± ¡| j§ ¬¸¿œ¸¸™ˆÅ Ï ~± ¡| j§ Mrityunjay Kr. Gupta Shankardas Gupta Rajkumar Singh Chouhan Sartaj Mohd. Shakeel General Manager

General Manager

General Manager

Editor

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Taarangan

June, 2017

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PROJECT CONNECT - SAMPARK

Hearty Welcome to our New Executive Director Mr. Chintapalli Gayatri Chaitanya D SRVWJUDGXDWH LQ DJULFXOWXUH DQG &$,,% MRLQHG %DQN RI ,QGLD DV 3UREDWLRQDU\ DJULFXOWXUDO RIÀFHU LQ -XQH He has handled several assignments during KLV \HDUV FDUHHU ZLWK WKH %DQN 3ULRU WR KLV HOHYDWLRQ DV ([HFXWLYH 'LUHFWRU RI %DQN RI ,QGLD 0U &KDLWDQ\D ZDV &KLHI ([HFXWLYH of Bank of India Singapore Centre covering 6LQJDSRUH &DPERGLD 9LHWQDP ,QGRQHVLD 0\DQPDU 6WDUWHG WKH FDUHHU DV DQ DJULFXOWXUDO RIÀFHU 0U &KDLWDQ\D KDQGOHG 0DQDJHULDO SRVLWLRQ LQ YDULRXV EUDQFKHV DFURVV WKH ,QGLD WKXV DFTXLULQJ DOO URXQG EDQNLQJ DGPLQLVWUDWLYH NQRZOHGJH +H JRW wide experience in operations as well as in FRQWUROOLQJ RIÀFHV 0U &KDLWDQ\D JRW ZLGH overseas experience in various capacities including as a Vice President of New York %UDQFK %HVLGHV LQGHSWK FUHGLW NQRZOHGJH

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MD & CEO @ Narmada Jhabua Gramin Bank

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Bank donated Ambulance to Bharat Sevashram Sangha under CSR

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RETIRED GENERAL MANAGERS (April A - October, 2017) 2017)

Shri R A Sankara Narayanan (OHYDWHG WR WKH SRVW RI 0' &(2 9LMD\D %DQN Sheela Subhash hash Sail Subhash Chandra Modi Mukul Kumar Srivastava Sengoda Gounder Palanivel Sushil Kumar Kasliwal

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Shri Kulbhushan Jain (OHYDWHG WR WKH SRVW RI ([HFXWLYH 'LUHFWRU $QGKUD %DQN

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Best wishes from ‘BOI Parivar’

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Taarangan

June, 2017

PROJECT CONNECT - SAMPARK

Executive Director Shri Neelam Damodharan @ Ahmedabad

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Rajendra N Harichandan

Arun Kumar Mandal

Ajay Kumar Sahoo

Parshuram Panda

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Sunil Kumar Relan

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Chandra Shekhar Sahay Shanker Prasad

Milind Madhav Vaidya

Arun Kumar Jain

Goura Hari ari Sarangi

Executive Director Shri Atanu Das @ Ludhiana Zone

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Executive Director Shri R A Sankara Narayanan @ Bengaluru Zone

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Taarangan

June, 2017

11

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CVC - always protects BONAFIDE DECISIONS

Vigilance Commission is the & entral Apex Anti-Corruption Institution

RI WKH FRXQWU\ YHVWHG ZLWK SRZHUV WR LQTXLUH RU FDXVH LQTXLULHV WR EH FRQGXFWHG LQWR RIIHQFHV DOOHJHG WR KDYH EHHQ committed under the Prevention of &RUUXSWLRQ $FW E\ FHUWDLQ FDWHJRULHV RI SXEOLF VHUYDQWV RI WKH &HQWUDO *RYHUQPHQW &RUSRUDWLRQV &RPSDQLHV 6RFLHWLHV DQG ORFDO DXWKRULWLHV RZQHG RU FRQWUROOHG E\ WKH Central Government and for overseeing and implementing policies relating to YLJLODQFH DGPLQLVWUDWLRQ 7KH )XQFWLRQV and Powers of the Central Vigilance Commission is envisaged in the Central 9LJLODQFH &RPPLVVLRQ $FW 7KH (GLWRU RI ,QGLDQ %DQNHU PHW 0U %KDVLQ Here are some of the excerpts of the LQWHUYLHZ JLYHQ E\ 0U %KDVLQ Q.1 What are your views on present vigilance and anti-corruption mechanism in Banking and Insurance Sectors? Ans. 'HSDUWPHQW RI )LQDQFLDO 6HUYLFHV in consultation with the Commission has SRVWHG D &KLHI 9LJLODQFH 2IĂ€FHU LQ HDFK RI WKH 3XEOLF 6HFWRU %DQN ,QVXUDQFH &RPSDQ\ 7KHUH LV D YHU\ VWURQJ vigilance set up and administration PHFKDQLVP LQ 3XEOLF 6HFWRU %DQNV DQG /LIH 1RQ OLIH ,QVXUDQFH &RPSDQLHV $OO WKH 3XEOLF 6HFWRU %DQNV KDYH SXW in place a Board approved Staff

Accountability Policy. (DFK RI WKHP have an Internal Advisory Committee (IAC) comprising of Four/Five RSHUDWLRQDO *HQHUDO 0DQDJHUV ZKR ORRN LQWR WKH DVSHFW RI VWDII DFFRXQWDELOLW\ LQ FDVHV RI IUDXGV 13$V PLVFRQGXFWV DQG LUUHJXODULWLHV 7KH ,$& 5HSRUW LV H[DPLQHG E\ WKH FRPSHWHQW 'LVFLSOLQDU\ $XWKRULW\ '$ WR GHFLGH ZKHWKHU WKH misconduct warrants action under Major RU 0LQRU 3HQDOW\ 3URFHHGLQJV '$¡V UHSRUW LV H[DPLQHG E\ &92 ZKHWKHU LW KDV 9LJLODQFH $QJOH RU QRW &DVHV RI 6FDOH 9 $*0 DQG DERYH DUH UHIHUUHG WR WKH &RPPLVVLRQ IRU DGYLFH Within the Commission, we have four Top 0DQDJHPHQW *UDGH *0 '*0 OHYHO Advisors (Banking) on deputation IURP IRXU ODUJH %DQNV DPRQJ ZKRP WKH &RPPLVVLRQ KDV DOORFDWHG YDULRXV 3XEOLF Sector Banks and Insurance Companies IRU H[DPLQDWLRQ RI FDVHV 6R DOO VXFK FDVHV UHFHLYHG IURP &92V DUH H[DPLQHG E\ $GYLVRUV %DQNLQJ DQG SXW XS WKURXJK WKH $GGO 6HFUHWDU\ 6HFUHWDU\ WR WKH &RPPLVVLRQ 8QGHU 6HFWLRQ

E RI WKH &9& $FW RQH 0HPEHU DSSRLQWHG E\ +RQ¡EOH 3UHVLGHQW RI ,QGLD RXW RI WKUHH LQ WKH &RPPLVVLRQ is having expertise and experience in Ă€QDQFH LQFOXGLQJ LQVXUDQFH DQG EDQNLQJ ODZ YLJLODQFH DQG LQYHVWLJDWLRQ 8QGHU 6HFWLRQ RI &9& $FW WKH GHFLVLRQV WDNHQ E\ WKH &RPPLVVLRQ DUH XQDQLPRXV RU E\ RSLQLRQ RI WKH PDMRULW\ 6R DW HDFK OHYHO ZLWKLQ WKH SXEOLF VHFWRU EDQNV LQVXUDQFH FRPSDQLHV DQG &9& SURSHU DSSOLFDWLRQ of mind is ensured to accord justice with HTXLW\ DQG SULQFLSOHV RI QDWXUDO MXVWLFH The advice of CVC is recommendatory LQ QDWXUH DQG WKH '$ DV D TXDVL MXGLFLDO DXWKRULW\ KDV IXOO OLEHUW\ WR GHFLGH DFWLRQ on each case on its individual merits EDVHG RQ GRFXPHQWDU\ HYLGHQFH LQTXLU\ SURFHHGLQJV

leejebieCe

petve, 2017

Here I would like to make a mention of D YHU\ LPSRUWDQW MXGJHPHQW RI +RQ¡EOH Supreme Court of India in Criminal and Connected Writ Petition “CBI vs. Ramesh Gelli & Othersâ€?, delivered on ZKHUHLQ WKH $SH[ &RXUW KDV ruled that the Chairman, Managing 'LUHFWRUV DQG 2IĂ€FHUV RI D SULYDWH bank are public servants for the purpose of Prevention of Corruption Act, 1988 $V SHU WKLV ODQGPDUN judgement: ‡ $OO RIĂ€FLDOV ZRUNLQJ LQ WKH %DQNV operating under RBI license would EH GHĂ€QHG DV SXEOLF VHUYDQWV XQGHU 3& $FW ‡ 7KH $SH[ &RXUW KHOG WKDW EDQN HPSOR\HHV SULYDWH RU SXEOLF GLVFKDUJH D SXEOLF GXW\ DQG DUH WKHUHIRUH DPHQDEOH WR MXULVGLFWLRQ RI WKH 6SHFLDO /DZ

With several high-ticket alleged IUDXGV FRPLQJ WR IRUH WKH &HQWUDO Vigilance Commission has now made it ‡ 6HFWLRQ $ RI WKH %DQNLQJ Regulation Act says that Bank PDQGDWRU\ IRU &92V RI SXEOLF VHFWRU RIÀFLDOV DUH GHHPHG WR EH SXEOLF EDQNV WR UHSRUW WR LW DOO VXFK PDWWHUV RIÀFLDOV involving frauds of over ` FURUH 7KH EDQNV ZLOO DOVR QRZ KDYH WR UHSRUW WKH

6RXUFH 7KH ,QGLDQ %DQNHU -XO\ 3XEOLVKHG E\ ,%$

12

modus operandi of all the alleged frauds to the CVC so that timely systemic LPSURYHPHQWV DUH EURXJKW LQ WR SUHYHQW further perpetration of such frauds LQ WKH %DQNLQJ 6\VWHP &RPPLVVLRQ KDV DOVR REVHUYHG WKDW WKHUH ZHUH QR effective provisions for regulating the conduct and discipline for Whole Time 'LUHFWRUV :7'V LQ 3XEOLF 6HFWRU %DQNV L H IRU &KDLUPHQ 0'V ('V ')6 KDV EHHQ DGYLVHG WR SXW LQ SODFH QHFHVVDU\ PHFKDQLVP IRU HQDEOLQJ SURYLVLRQV WR KDQGOH PLVFRQGXFWV E\ :7'V LQ WKH 5XOHV 5HJXODWLRQV DV RQ WKH OLQHV SUHYDLOLQJ LQ &36(V 6LPLODUO\ WR ÀQH WXQH WKH V\VWHP RI HPSDQHOPHQW DSSRLQWPHQW DOORFDWLRQ RI ZRUN DQG WLPHO\ VXEPLVVLRQ RI UHSRUWV E\ WKH 6XUYH\RUV LQ ,QVXUDQFH 6HFWRU UHFHQWO\ the Commission held discussions with *,36$ ')6 &0'V &92V RI 3XEOLF 6HFWRU 1RQ /LIH ,QVXUDQFH &RPSDQLHV IRU UHGHÀQLQJ DQG VWDQGDUGLVLQJ WKH 623V

Q.2 What steps are being taken to reduce delay in vigilance cases? Ans. 7KH SHQGHQF\ RI YLJLODQFH FDVHV as per the records of Commission is PDGH DYDLODEOH WR DOO WKH RUJDQL]DWLRQV RQ WKH ZHE SRUWDO DQG WKH 9LJLODQFH 2IÀFLDOV RI DOO RUJDQL]DWLRQV DUH advised to regularly peruse the same DQG WDNH UHTXLUHG UHPHGLDO VWHSV WR FOHDU WKH SHQGHQF\·V DQG WDNH WKH VDPH WR ORJLFDO FRQFOXVLRQ DV SHU SUHVFULEHG WLPHOLQHV $SDUW IURP WKLV WKHUH DUH UHJXODU PHHWLQJV EHWZHHQ WKH RIÀFLDOV of the Commission and personnel of UHVSHFWLYH RUJDQL]DWLRQV WR GZHOO RQ WKH SHQGHQF\ DQG WDNH UHTXLUHG PHDVXUHV There are also periodical review meetings DQG $QQXDO 6HFWRULDO 5HYLHZ PHHWLQJV which among others also address the SHQGHQF\ ,W LV EHLQJ VWULYHG WR HQKDQFH WKH VNLOO OHYHOV RI WKH 9LJLODQFH RIÀFLDOV DW DOO RUJDQL]DWLRQV E\ H[SRVLQJ WKHP to various training programmes within ,QGLD DQG DOVR RYHUVHDV VR DV WR HQDEOH them to function in more effective PDQQHU Q.3 Recently, the Government has brought out an order to amend the Banking Regulation Act to deal with NPA problem. What are your views on this? Ans. +RQ·EOH 3UHVLGHQW RI ,QGLD KDV accorded his consent for the Banking 5HJXODWLRQV $PHQGPHQW 2UGLQDQFH RQ 0D\ WR DFFHOHUDWH UHVROXWLRQ RI QRQ SHUIRUPLQJ DVVHWV 13$V RU EDG ORDQV FORJJLQJ WKH ,QGLDQ EDQNLQJ V\VWHP 7KH WKUHH NH\ PHDVXUHV proposed in the ordinance are: L 7KH JRYHUQPHQW PD\ DXWKRULVH WKH Reserve Bank of India (RBI) to LVVXH GLUHFWLRQV WR EDQNV WR LQLWLDWH insolvency proceedings against GHIDXOWHUV XQGHU WKH EDQNUXSWF\ FRGH LL 5%, RQ LWV RZQ DFFRUG FDQ LVVXH GLUHFWLRQV WR EDQNV IRU UHVROXWLRQ RI VWUHVVHG DVVHWV LLL 5%, PD\ IRUP FRPPLWWHHV ZLWK PHPEHUV LW FDQ FKRRVH WR DSSRLQW WR DGYLVH EDQNV RQ UHVROXWLRQ RI VWUHVVHG DVVHWV 7KH DERYH PHDVXUHV JLYH WKH 5%, DQG the central government powers to act

VWURQJO\ DJDLQVW DQ\ FRPSDQ\ ZKLFK KDV GHIDXOWHG RQ LWV ORDQV (DUOLHU WKH EDQNV WKDW ZHUH SDUW RI D FRQVRUWLXP IRXQG LW GLIÀFXOW WR WULJJHU EDQNUXSWF\ SURFHHGLQJV 7KLV RUGLQDQFH DWWHPSWV WR VROYH WKDW SUREOHP ZLWK 5%, GLUHFWLQJ EDQNV WR FROOHFWLYHO\ LQLWLDWH LQVROYHQF\ proceedings in a transparent and marketGHWHUPLQHG DSSURDFK 7KH LQVROYHQF\ DQG EDQNUXSWF\ FRGH LV D WLPH ERXQG process and seeks to reduce the time for resolving a default case to less than a year as against the average time taken RI PRUH WKDQ IRXU \HDUV FXUUHQWO\ 7KH REMHFWLYH LV WR VWUHQJWKHQ DQG YLUWXDOO\ give a stamp of approval to the Regulator WR LQLWLDWH UHVROXWLRQ SURFHVV

WDNHQ XS E\ &RPPLVVLRQ RU &%, DUH YHU\ UDUH DQG PLQLVFXOH DV FRPSDUHG WR ZKDW LV UHFHLYHG E\ &RPPLVVLRQ ZLWK WKH FRQVHQVXV UHFRPPHQGDWLRQV RI '$ &92 Commission is always open to taking steps for cutting down the delays in GLVSRVDO RI YLJLODQFH FDVHV E\ PRUH FORVHU FR RUGLQDWLRQ EHWZHHQ WKH RIÀFLDOV RI WKH &RPPLVVLRQ DQG &92V DQG DOVR E\ LPSURYLQJ WKH TXDOLW\ RI investigation and effective conduct of LQTXLULHV Q.5 Very high NPAs in Public Sector Banks have attracted considerable media attention. What can be done to tackle this problem?

Q.4 It is being said that one of the reasons to bring this amendment Ans. , ZRXOG VD\ WKDW *RYHUQPHQW empowering the RBI was the fear 3ROLF\ PDNHUV 5HJXODWRU &9& &%, DQG of the bank management regarding (' DUH DOO GHHSO\ FRQFHUQHG ZLWK ULVLQJ vigilance agencies. Do you think QXPEHU RI IUDXGV DQG 13$V LQ %DQNLQJ WKHUH LV VRPH WUXVW GHÀFLW EHWZHHQ V\VWHP 7KH 13$ LVVXH KDV ZLGHU vigilance agencies on the one hand LPSOLFDWLRQV EHFDXVH GXULQJ WKH WLPHV and bank management when seemingly high growth on the other? What rates were achieved in your view, needs during the earlier to be done to SDUW RI WKLV GHFDGH The Functions overcome such a SUREDEO\ WKH and Powers of situation? credit appraisal the Central Vigilance standards were Ans. , GRQ·W WKLQN Commission is envisaged FRPSURPLVHG CVC has ever acted in the Central Vigilance resulting into DJDLQVW ERQDÀGH Commission Act, formation of EXVLQHVV GHFLVLRQV EXEEOHV ZKLFK 2003. The Editor of RI %DQNHUV :KDW KDYH EXUVW QRZ Indian Banker met the Commission Complimentary Mr. Bhasin. says is to follow a WR WKLV WKHUH ZHUH MXVW WUDQVSDUHQW DQG several issues in HTXLWDEOH SURFHVV WR various policies relating VFLHQWLÀFDOO\ ZRUN RXW WKH WR PLQLQJ WHOHFRP UHDOLVDEOH YDOXH RI WKH WUDQVDFWLRQ E\ SRZHU URDGV KLJKZD\V LQIUDVWUXFWXUH SURSHU SULFH GLVFRYHU\ 7KH DQDO\VLV RI VHFWRUV HWF ZKLFK OHG WR RYHU OHYHUDJLQJ records reveal that the so-called fear of RI EDODQFH VKHHWV DQG UHVXOWDQW MXPS LQ WKH EDQN PDQDJHPHQWV UHJDUGLQJ RYHU 13$V EHFDXVH RI QRQ UHSD\PHQW RI DFWLYLVP E\ WKH YLJLODQFH DJHQFLHV LV LOO %DQN GXHV RQ WLPH +RZHYHU UDWKHU IRXQGHG DQG QRW VXSSRUWHG E\ VWDWLVWLFV WKDQ UHFRJQLVLQJ WKHP DV 13$ GHHS RI WKH FDVHV KDQGOHG LQ &RPPLVVLRQ long restructuring was done from the 7R WKH FRQWUDU\ &RPPLVVLRQ WDNHV D \HDU RQZDUGV DQG D QHZ FDWHJRU\ YHU\ FDUHIXO FDXWLRXV FRQVLGHUDWH DQG RI UHVWUXFWXUHG DVVHWV ZDV FUHDWHG ZLWK GRFXPHQWDU\ HYLGHQFH EDVHG GHFLVLRQ D GLIIHUHQWLDO WUHDWPHQW LQ DFFRXQWLQJ which is evident from the fact that CVC so as to avoid declaring them NPA KDV GHFOLQHG VDQFWLRQ IRU SURVHFXWLRQ LPPHGLDWHO\ DW WKDW WLPH 2QFH WKH in the case of difference of opinion UHSD\PHQWV VWDUWHG IDOOLQJ GXH WKHVH EHWZHHQ &%, '$ LQ UHVSHFW RI deep long restructured accounts have RI WKH FDVHV LQ WKH FDOHQGDU \HDU HQPDVV VOLSSHG LQWR 13$ SHUKDSV )XUWKHU WKH YLJLODQFH FDVHV VXR PRWR more so after the Asset Quality Review

Taarangan

June, 2017

13

XQGHUWDNHQ E\ WKH 5%, LQ SHULRG $V IDU DV WKH UHVROXWLRQ SDUW LV FRQFHUQHG VHYHUDO DWWHPSWV KDYH EHHQ made over the years with the major KLWFK EHLQJ WKH GHFLVLRQ RQ KRZ WR WDNH GHHS KDLUFXWV WR JHW WKH EDG DVVHWV RII WKH ERRNV 7KLV LV D SUDFWLFDO FKDOOHQJH HYHQ WRGD\ 2Q WKHLU SDUW *RYHUQPHQW KDV EHHQ WLJKWHQLQJ WKH ODZV WR IDFLOLWDWH expeditious recovery proceedings and WKH 5HJXODWRU 5%, KDV EHHQ EULQJLQJ QHZ GLVSHQVDWLRQ WR KDQGOH 13$V VXFK as:‡ 2YHU WKH \HDUV DFWLRQ XQGHU 6$5)$(6, /RN $GDODWV '57V &RXUWV 6DOH RI $VVHWV WR $5&V KDYH EHHQ LQVWUXPHQWDO LQ HIIHFWLQJ UHFRYHULHV IURP WKH 13$ DFFRXQWV ‡ 8QGHU WKH &'5 &RUSRUDWH 'HEW 5HVWUXFWXULQJ EDQNV XVHG WR DFFHSW a moratorium on interest payments and longer period for repayment of SULQFLSDO ‡ $QRWKHU VFKHPH DOORZV WKH EDQNV WR H[WHQG ORQJ WHUPV ORDQV of 20-25 years to match the cash à RZ RI SURMHFWV ZKLOH UHÀQDQFLQJ WKHP E\ DQRWKHU %DQN )LQDQFLDO ,QVWLWXWLRQ DIWHU HYHU\ RU \HDUV NHHSLQJ LQ YLHZ WKH $VVHW /LDELOLW\ PLVPDWFK LQ WKH EDODQFH VKHHW ‡ 6'5 6WUDWHJLF 'HEW 5HVWUXFWXULQJ gives lenders sweeping powers to throw out management of companies whose assets have WXUQHG EDG 7KLV VFKHPH HQWDLOV ORW RI OHJDO EDWWOHV EHFDXVH SUHVHQW 0DQDJHPHQW ÀJKWV LW WRRWK DQG QDLO WR WKZDUW FKDQJH RI 0DQDJHPHQW ‡ 6 $ 6FKHPH IRU 6XVWDLQDEOH Structuring of Stressed Assets) DOORZV EDQNV WR FRQVLGHU WKH VXVWDLQDEOH SRUWLRQ RI GHEW DV D standard loan provided that they PDNH SURYLVLRQ IRU D SDUW RI GHEW XSIURQW %DQNHUV JHW WKH FRPIRUW of two outside experts in the 2YHUVLJKW &RPPLWWHH $V SHU ODWHVW LQIRUPDWLRQ IRXU ODUJH FRUSRUDWH NPA accounts have availed UHVWUXFWXULQJ XQGHU 6 $ ‡ 1RZ WKH ,QVROYHQF\ DQG %DQNUXSWF\ &RGH SURYLGHV for re-organization and insolvency 14

leejebieCe

petve, 2017

UHVROXWLRQ RI FRUSRUDWH SHUVRQV SDUWQHUVKLS ÀUPV DQG LQGLYLGXDOV LQ D WLPH ERXQG PDQQHU IRU PD[LPL]DWLRQ RI YDOXH RI $VVHWV ,W HQYLVDJHV VSHFLÀF UROHV IRU HDFK SDUWLFLSDQW WKH VWDNHKROGHUV FRPSULVLQJ GHEWRUV DQG FUHGLWRUV and the ecosystem comprising $GMXGLFDWLQJ $XWKRULW\ $$ Insolvency and Bankruptcy Board RI ,QGLD ,%%, LQIRUPDWLRQ XWLOLWLHV DQG LQVROYHQF\ SURIHVVLRQDOV 7KH 863 RI WKH FRGH LV WLPH ERXQG FRPSOHWLRQ RI SURFHVVHV

UHVSRQVLELOLW\ RI %DQNHUV :H VKRXOG NHHS LQ PLQG WKDW E\ HDFK SDVVLQJ GD\ WKH HFRQRPLF YDOXH RI VHFXULW\ WDQJLEOH DVVHWV VWRFNV SODQW DQG PDFKLQHU\ HWF keeps diminishing; so the Bankers are GXW\ ERXQG WR HIIHFW UHFRYHU\ PHDVXUHV ZLWK DOO VLQFHULW\ DW WKH HDUOLHVW

Here at the cost of repetition I would like to reiterate that Bankers themselves have to muster courage to recover WKHLU %DQN¡V RYHUGXHV LQGLYLGXDOO\ RU FROOHFWLYHO\ LQ FRQVRUWLXP EDVHG 13$ DFFRXQWV ,W LV WKHLU GXW\ DQG GKDUPD WR OHQG DQG UHFRYHU PRQLHV 1R RXWVLGHUV ‡ +RQ¡EOH 3UHVLGHQW RI ,QGLD can help them to do it and Bankers will via an ordinance route has have to rise to the occasion and meet conferred powers upon RBI via WKLV FKDOOHQJH 7KH\ KDYH GRQH LW LQ WKH the amendments to the Banking SDVW 9HUPD &RPPLWWHH DQG , DP 5HJXODWLRQ $FW WR KHOS LW VXUH WKH\ ZLOO GR LW QRZ DOVR deal more effectively with stressed Q.6 What action is being taken by DVVHWV E\ GLUHFWLQJ EDQNV WR LQLWLDWH the Commission against individuals LQVROYHQF\ SURFHHGLQJV LQ VSHFLĂ€F responsible for the NPAs owing to 13$ FDVHV 5%, LV UHSRUWHGO\ corrupt practices? working out a strategy to deal with the resolution of large NPAs in a Ans. $OO EDQNV KDYH ZHOO GHĂ€QHG V\VWHP RI H[DPLQDWLRQ RI VWDII DFFRXQWDELOLW\ FDOLEUDWHG PDQQHU LQ WXQH ZLWK WKH SUHYDLOLQJ JXLGHOLQHV ‡ +RQ¡EOH )LQDQFH 0LQLVWHU KDV Whenever a loan account slips into reviewed the current NPA status in 13$ SURSHU DQDO\VLV RI DFFRXQWDELOLW\ D PHHWLQJ KHOG RQ WK -XQH LV GRQH E\ ,$& '$ &92 DQG LI IRU UHFRYHULHV DQG UHVROXWLRQ EHLQJ UHTXLUHG 5HJXODU 'HSDUWPHQWDO $FWLRQ ZRUNHG RXW E\ 5%, DQG %DQNV LV EHLQJ LQLWLDWHG DJDLQVW WKH VWDII IRXQG ‡ +RQ¡EOH 0LQLVWHU IRU 3RZHU 6HFWRU UHVSRQVLEOH IRU WKH ODSVHV REVHUYHG ,I WKH has also recently reviewed the Power ERUURZHU LV VHHQ WR KDYH GHIUDXGHG WKH 6HFWRU EDG ORDQV DQG KDV DVVXUHG IRU %DQN DQG WKHUH LV FRQQLYDQFH FRPSOLFLW\ TXLFN UHVROXWLRQ VROXWLRQ RI 3RZHU RU FULPLQDO DQJOH LQYROYHG DSDUW from stringent punishment in Regular 6HFWRU /RDQV 'HSDUWPHQWDO $FWLRQ FRPSODLQWV DUH Bankers should effectively use all these DOVR EHLQJ SUHIHUUHG ZLWK /DZ (QIRUFLQJ measures for effective and expeditious DQG ,QYHVWLJDWLQJ $JHQFLHV OLNH &%, RU UHFRYHU\ IURP 13$V 6RPH %DQNHUV DUH 6WDWH 3ROLFH GHSHQGLQJ RQ WKH DPRXQW under the wrong impression that once LQYROYHG IRU FRPPHQFLQJ LQYHVWLJDWLRQ they have reported an account as an NPA Ă€OLQJ 3( 5& DQG FKDUJH VKHHWV DQG LI WR WKHLU FRQWUROOLQJ RIĂ€FH V DQG WKH\ LQ QHHG EH SURVHFXWLRQ SURFHHGLQJV RQ turn have reported it to the Regulator FRQFOXVLRQ RI ,QYHVWLJDWLRQ and to investigating agencies such as 3ROLFH &%, (QIRUFHPHQW 'LUHFWRUDWH ,Q JODULQJ FDVHV RI IUDXGV DQG 13$V HWF WKHLU MRE LV RYHU DQG WKH\ ZHUH QRW the Commission under powers vested DFWLYHO\ SXUVXLQJ UHFRYHU\ PHDVXUHV ,W u/s 8(1)(d) & (h) of CVC Act suo VKRXOG QRW EH IHOW VR E\ WKH %DQNHUV , moto directs the Central Bureau of Investigation (CBI) to launch would like to make it very clear that the LQYHVWLJDWLRQ WDNH DFWLRQ DQG VXEPLW Investigating Agencies only look into UHSRUW WR &9& WKH DVSHFWV RI &ULPLQDOLW\ &XOSDELOLW\ LQYROYHG 6LPLODUO\ 5%, LV XVLQJ )05 Q.7 During demonetization phase, information for statistical purposes many instances of corruption in DORQH 5HVROXWLRQ DQG 5HFRYHU\ RI 13$ banks were reported. What action $FFRXQWV LV DQG FRQWLQXHV WR EH WKH VROH is being taken by the Commission

against such acts? Ans. Following the decision of the government to demonetise the old ` 500/1000 notes from midnight of 1RYHPEHU WKH 5HVHUYH %DQN had put in place cash withdrawal limits IRU LQGLYLGXDOV DV ZHOO DV EXVLQHVVSHUVRQV and issued instructions from time WR WLPH WR IDFLOLWDWH JHQXLQH FDVK WUDQVDFWLRQV E\ WKH FXVWRPHUV %\ DQG ODUJH EDQNV KDYH GRQH FRPPHQGDEOH ZRUN E\ SXWWLQJ LQ ORQJ KRXUV RI XQWLULQJ HIIRUWV LQ PDQDJLQJ EDQNLQJ WUDQVDFWLRQV GXULQJ WKH 'HPRQHWLVDWLRQ SHULRG Some isolated instances have come to WKH QRWLFH RI WKH &RPPLVVLRQ ZKHUH employees of various Banks were found LQYROYHG LQ FDUU\LQJ RXW WUDQVDFWLRQV ZKLFK ZHUH LUUHJXODU DQG YRLODWLYH RI 5%,·V LQVWUXFWLRQV &92V RI 5%, DQG DOO 3XEOLF 6HFWRU %DQNV ZHUH DGYLVHG E\ WKH Commission to take immediate action in such cases and some employees of 5%, DQG YDULRXV 3XEOLF 6HFWRU %DQNV KDYH HYHQ EHHQ SODFHG XQGHU VXVSHQVLRQ DQG GLVFLSOLQDU\ SURFHHGLQJV KDYH EHHQ LQLWLDWHG DJDLQVW WKHP 6RPH RI WKH RIÀFLDOV KDYH EHHQ WUDQVIHUUHG WR QRQ VHQVLWLYH SRVWV 2IÀFH RI &9& ZLOO QRW tolerate any illegalities or irregularities LQ DQ\ RI WKH EDQNLQJ WUDQVDFWLRQV DQG VWHUQ DFWLRQ ZRXOG EH WDNHQ DJDLQVW individuals involved in such irregular and XQDXWKRUL]HG DFWLYLWLHV Q.8 What is your advice to the CVOs? Ans. )LUVW DQG IRUHPRVW &92V VKRXOG UHDG 9LJLODQFH 0DQXDO DOO LPSRUWDQW FLUFXODUV GLVFLSOLQDU\ DFWLRQ UXOHV DQG LQGLYLGXDO ÀOHV YHU\ FDUHIXOO\ &92V are extended arms of the Central 9LJLODQFH &RPPLVVLRQ WKURXJK ZKRP the effective Vigilance Administration LV HQVXUHG LQ WKH *RYW 'HSWWV 2UJDQL]DWLRQV WR ZKLFK WKH\ DUH GHSXWHG &92 VKRXOG PDNH HYHU\RQH in the organization realize that Vigilance Administration is one of the important PDQDJHPHQW WRROV ZKLFK ZLOO PDNH WKH RUJDQL]DWLRQ UHDS WKH EHQHÀWV RI LWV HIIHFWLYH DGPLQLVWUDWLRQ &92 VKRXOG VWULYH WR PDNH ´9LJLODQFH $FWLYLW\µ EHFRPH WKH EXVLQHVV RI HYHU\RQH LQ WKH RUJDQL]DWLRQ +H VKRXOG VWULYH WR UHGXFH HOLPLQDWH WKH GHOD\V LQ YDULRXV SKDVHV RI KDQGOLQJ YLJLODQFH FDVHV VR DV WR UHGXFH

WKH SDLQ RI FKDUJHG RIÀFHUV &92 should also strive to study the existing gaps in the prevailing systems and SURFHGXUHV WR VXJJHVW PDNH V\VWHPLF improvements and prevent recurrence RI LUUHJXODULWLHV LQ IXWXUH +H VKRXOG concentrate on strengthening preventive YLJLODQFH PHFKDQLVP WR REYLDWH WKH usage of punitive vigilance mechanism and should strive to use technology to improve transparency in all the activities RI WKH RUJDQL]DWLRQ 7KHUH VKRXOG EH D thorough and critical analysis of each ÀOH FDVH EURXJKW EHIRUH &92 DQG FRQVLGHUHG YLHZ VKRXOG EH IRUPHG LQ OLQH ZLWK 5XOHV 5HJXODWLRQV ODZV DQG GRFXPHQWDU\ HYLGHQFHV &92 KDV WR UHPHPEHU WKDW KH LV GHDOLQJ ZLWK OLIH FDUHHU DQG IXWXUH RI RIÀFLDOV HPSOR\HHV and as such in each case; he needs to take D YHU\ UDWLRQDO DQG EDODQFHG YLHZ Q.9 What do you perceive as the major challenges before the Commission presently? Ans. Central Vigilance Commission is having superintendence over the vigilance administration of all the Government DQG 3XEOLF 6HFWRU RUJDQL]DWLRQV LQ addition to superintendence over the &%, 7KH PDMRU FKDOOHQJH EHIRUH &9& LV WR PDNH WKH &92V RUJDQL]DWLRQV DQG RIÀFLDOV DSSUHFLDWH WKDW SURSHU 9LJLODQFH Administration can increase the HIÀFLHQF\ DQG OHDG WKH RUJDQL]DWLRQV WR UHDS WKH EHQHÀWV RI LWV LPSOHPHQWDWLRQ and that it is not a hindrance in their IXQFWLRQLQJ 7KH GHOD\V REVHUYHG LQ WKH LGHQWLÀFDWLRQ DQG GLVSRVDO RI YLJLODQFH FDVHV KDYH WR EH GUDVWLFDOO\ UHGXFHG VR DV WR PDNH WKH GHOLQTXHQW RIÀFLDOV UHDOL]H WKDW QR RQH FDQ HVFDSH IURP WKH ORQJ KDQGV RI WKH /DZ :KLOH enlisting the support and participation RI SXEOLF LQ JHQHUDO DQG HPSOR\HHV LQ SDUWLFXODU LQ HIIHFWLYH LPSOHPHQWDWLRQ RI YLJLODQFH DGPLQLVWUDWLRQ HIIRUWV RI WKH &RPPLVVLRQ ZLOO DOZD\V EH WR increase transparency in all processes RI WKH RUJDQL]DWLRQ E\ OHYHUDJLQJ WKH WHFKQRORJ\ Q.10 What do you feel is the way forward for the Commission?

&RPPLVVLRQ KDV EHHQ FORVHO\ ZRUNLQJ ZLWK DOO WKH 2UJDQL]DWLRQV DQG VWULYLQJ WR enhance transparency in all the processes RI WKH RUJDQL]DWLRQ E\ OHYHUDJLQJ RQ WKH WHFKQRORJ\ &RPPLVVLRQ LV DOVR HQOLVWLQJ WKH VXSSRUW RI SHRSOH LQ LWV ÀJKW DJDLQVW FRUUXSWLRQ 7KH &RPPLVVLRQ·V UROH ZRXOG EH PRUH SLYRWDO LQ WKH FRPLQJ days as we all know that corruption is a major impediment to growth DQG GHYHORSPHQW 7KH &RPPLVVLRQ would continuously strive to evolve systems & procedures to strengthen the preventive vigilance mechanism in all the RUJDQL]DWLRQV WR HOLPLQDWH FRUUXSWLRQ DQG RWKHU UHODWHG LUUHJXODULWLHV 4 $QG \RXU ÀQDO ZRUG WR WKH Bankers:Ans. )LQDOO\ , ZRXOG OLNH WR VD\ WKDW DOO %DQNHUV DUH KDQGOLQJ 38%/,& 021(< DV 7UXVWHHV LQ JRRG IDLWK DQG DV VXFK WKH\ VKRXOG EH VFUXSXORXVO\ KRQHVW dedicated and committed to the cause of HQVXULQJ VDIHW\ VHFXULW\ DQG HFRQRPLF YDOXH RI 3XEOLF GHSRVLWV 7KHLU %21$),'( GHFLVLRQV ZLOO EH SURWHFWHG and strict and stern action will ensue in PDODÀGH DQG JUDYH PLVFRQGXFWV 'R QRW fall into the trap of Intermediaries/Loan $UUDQJHUV 0LGGOHPHQ ,Q WKH *\DQ 6DQJDP +RQ·EOH 3ULPH 0LQLVWHU himself assured Bankers that there will EH QR LQWHUIHULQJ UHIHUHQFHV DQG SKRQH FDOOV IURP 'HSW RI )LQDQFLDO 6HUYLFHV 0LQLVWU\ RI )LQDQFH UHFRPPHQGLQJ any loan/recovery proposals and all GHFLVLRQV RI WKH %DQNHUV VKRXOG EH PHULW EDVHG $V VXFK %DQNHUV VKRXOG OHDUQ WR VD\ ¶1R· WR XQEDQNDEOH ORDQ SURSRVDOV DQG H[WUDQHRXV SUHVVXUHV DQG ¶'2· proper due diligence in Pre-sanction DSSUDLVDOV OHJDOO\ YDOLG DQG HQIRUFHDEOH loan documentation and charging of VHFXULWLHV SURSHU SRVW GLVEXUVHPHQW IROORZ XS WR REYLDWH GLYHUVLRQ RI IXQGV Based on my 40 years experience in Banking and Vigilance I would advise all %DQN RIÀFLDOV WR UHDG WKH 623V IROORZ them scrupulously and meticulously DQG DOZD\V EH $OHUW $JLOH 3URDFWLYH 3UHYHQWLYH &DUHIXO &DXWLRXV 9LJLODQW and forward looking !

Wishing you GOD SPEED ! ! Ans. In the prevailing environment LQ WKH FRXQWU\ WKHUH LV D FRQVHQVXV Source : The Indian Banker (July 2017) IRU =HUR WROHUDQFH WR &RUUXSWLRQ 3XEOLVKHG E\ ,%$

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June, 2017

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of the three fundamental dimensions RI KXPDQ LQWHOOLJHQFH 'HVLJQ VFLHQFH DQG DUW IRUP DQ Âś$1'¡ QRW DQ Âś25¡ UHODWLRQVKLS WR FUHDWH WKH LQFUHGLEOH KXPDQ FRJQLWLYH DELOLW\ Âľ Nigel has given the following description IRU 6FLHQFH $UW DQG 'HVLJQ Science Ă€QGLQJ VLPLODULWLHV DPRQJ things that are different Art Ă€QGLQJ GLIIHUHQFHV DPRQJ WKLQJV that are similar Design FUHDWLQJ IHDVLEOH ÂśZKROHV¡ IURP LQIHDVLEOH SDUWV )URP WKLV EULHI H[SODQDWLRQ RI GHVLJQ it is clear that design is a whole created IURP SDUWV DQG LV DERXW SRVVLELOLW\ 7R GHVLJQ LV WR FUHDWH DQG VROYH 6WHYH -REV RI $SSOH IDPH GHĂ€QHG GHVLJQ LQ RQH RI KLV TXRWHV Âś'HVLJQ LV QRW MXVW ZKDW LW ORRNV OLNH DQG IHHOV OLNH 'HVLJQ LV KRZ LW ZRUNV¡ 6R GHVLJQ LV DERXW SUDFWLFDELOLW\ 3UREOHPV DQG FKDOOHQJHV DUH D ZD\ RI OLIH +RZ WKHVH DUH GHDOW ZLWK GHWHUPLQHV WKH JURZWK DQG VXFFHVV 7KLV LV WUXH IRU ERWK LQGLYLGXDOV DQG RUJDQL]DWLRQV 2UJDQL]DWLRQV IDFH ELJJHU FKDOOHQJHV DQG VWDNHV DUH KLJKHU IRU WKHP ,Q this ever changing and competitive EXVLQHVV HQYLURQPHQW RUJDQL]DWLRQV need a paradigm shift in how they look for solutions for existing as well DV QHZIRXQG SUREOHPV DQG ZRUN ZLWK structured approach to keep coming

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GRAMIN BANK OF ARYAVART - QUARTERLY HIGHLIGHTS

XU %DQN LV VHUYLQJ WKH ÀIWHHQ districts of Uttar Pradesh with its +HDGTXDUWHU DW /XFNQRZ ,W LV WKH ODUJHVW Regional Rural Bank in the State of Uttar Pradesh and also among RRBs VSRQVRUHG E\ %DQN RI ,QGLD 'XULQJ WKH &XUUHQW TXDUWHU HQGHG -XQH %DQN KDV LQWURGXFHG WZR VFKHPHV IRU EXVLQHVV GHYHORSPHQW L $GRSWLRQ RI RQH YLOODJH E\ HDFK 5HJLRQDO 2IÀFH IRU LQWHJUDWHG YLOODJH GHYHORSPHQW DQG FUHGLW VDWXUDWLRQ LL ,GHQWLÀFDWLRQ RI VL[W\ IDPLOLHV SHU EUDQFK IRU SURYLGLQJ VXVWDLQDEOH HPSOR\PHQW IRU LQFRPH JHQHUDWLRQ

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KNOWLEDGE PLUS

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he much awaited Integrated Goods and Services Tax, commonly known as GST, has become the reality on midnight of 30th June, 2017 impacting our entire populace in varying degrees from the early hours of 1st July, 2017. Apart from the bold and the biggest tax reform, 1st July is also famous for so many important landmark days, a few of which are: I International Agricultural Day II Chartered Accountants Day III National Doctors Day

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Before proceeding on the issue of GST with all its seriousness, let’s have a lighter view of this historic day. Everybody in the country is concerned about the welfare of the others: Politicians are agitating against GST because it is antibusiness tax regime and businessmen are agitating as it is anti-consumer whereas most of the consumers are even unaware of the provisions of the new tax system. It seems as if it was easier to understand numerous tax provisions of various states and the centre whereas understanding the single tax law of GST VHHPV WR EH YHU\ GLIÀFXOW DQG GDXQWLQJ task. These reactions would also have emanated from polyphasic sleep as the GST was launched on midnight with fast asleep tension free agriculturists & consumers, busy chartered accountants and ever ready doctors to face any eventuality of political, social and psychological estrangements due to protests and tax shocks. Now, let’s discuss the issue of GST from the perspective of a common PDQ ZKLFK FDQ EH GHÀQHG DV WKH VLQJOH uniform indirect tax across all regions RI WKH FRXQWU\ KDYLQJ VSHFLÀF UDWH IRU VSHFLÀF SURGXFWV DQG VHUYLFHV FRYHULQJ entire gamut of products and services excluding electricity, petroleum products and alcohol with the intention to make WKH HQWLUH FRXQWU\ D XQLÀHG PDUNHW

having philosophy of “one nation, one market and one taxâ€? by merging all indirect taxes of the centre and the states. In GST, there is no tax on production but on sales only, therefore, it is also known as the destination tax. Since, this is departure from existing production oriented tax leading to revenue loss for manufacturing states; therefore Central Government has promised to compensate the loss of manufacturing VWDWHV IRU D SHULRG RI Ă€YH \HDUV *67 comprises of four types of taxes: I SGST-State GST, collected by the State Govt & Union Territories with legislature II CGST-Central GST, Collected by the Central Government III UTGST-Union Territory GST (UT’s without legislature) IV IGST-Integrated GST, Collected by the Central Government Our exports are normally duty free and duties are levied on imports. These imports will continue to attract customs duty on arrival of goods and IGST on sale of these products in the country. Import of services will attract IGST. There may be following scenario in GST implementation: I First and Final Sale in same State: In cases of sale within the

same state, CGST and SGST will be levied and collected by respective central and state agencies. With every successive sale, the sale price increases leading to payment of incremental tax after adjusting the credit of input CGST and SGST. II First sale in State and Final sale in different States: In case goods after the initial sale are moving to RWKHU VWDWH IRU ÀQDO VDOH &*67 DQG 6*67 ZLOO EH OHYLHG RQ WKH ÀUVW VDOH within the state as in the case of WKH ÀUVW VFHQDULR DQG RQ WKH VDOH WR other state IGST will be levied after adjusting the input credit for CGST and SGST, which will be collected by the central government. III First sale out of state and resale in that State: 6LQFH WKH ÀUVW VDOH is interstate sale, IGST will be levied and collected by the central government and the subsequent sale is within the state CGST and SGST will be levied and collected by the central and state governments after adjusting the input credit. IV Import of Goods and Services: In case of import of goods, customs duty will be levied by the

The successful implementation of the GST will make the entire country - a single market, which will not only offer the better economies of the scale but also optimise the utilization of our natural and human resources in the best interest of the economy.

central government and IGST will be levied on the sale in the country, which will be collected by the central government. Import of services will attract levy of IGST by the central government. V Export of Goods and Services: The exports are zero rated under GST and the exporters can claim refund of the tax paid on inputs used in manufacturing and / or delivery of goods and services. Objectives of GST: The major objectives of GST are: I One country, one market and one tax II Consumption oriented tax instead of manufacturing oriented III Eliminates double taxation & its cascading impact IV Improves compliance and reduces tax evasion V Widening and deepening of the tax base %HQHÀWV RI *67 7KH PDMRU EHQHÀWV of GST are: I Simple & uniform tax structure across the country II Revenue buoyancy III Integration of unorganized manufacturing sector ,9 1RQ LQà DWLRQDU\ LQ QDWXUH V Reduced bureaucratic interference due to auto credit adjustment Limitations of GST: Some of the limitations of GST are: I Mid - year implementation II Problems faced by e-commerce in terms of destination III Registrations in different states IV Artisans & MSME’s at par with large industries in tax terms 9 ([SHULHQFH RI LQà DWLRQDU\ LPSDFW of GST in other countries VI Adaptability issues for new system Summary: 7KH VXFFHVVIXO LPSOHPHQWDWLRQ DQG ÀQH tuning of the GST will lead to widening of the coverage of the indirect tax

network leading to revenue buoyancy with better tax compliance with reduced incidents of black marketing. No system is ideal or perfect in this dynamic universe, therefore GST is also beset with its own share of positives and negatives. No doubt GST is certainly an improvement over the previous indirect tax system of the country, but WKH HIÀFDF\ DQG HIIHFWLYHQHVV RI WKH GST has to be tested on operational and accounting parameters. To sum up, it can be said that changes are always reactionary in nature evoking mixed reactions of positivity and negativity and the same holds good for Goods and Services Tax also. There will be teething troubles in the initial GD\V DQG WKH HIÀFLHQF\ DQG SURPSWQHVV in responding to these issues will go a long way in ensuring the smooth and successful implementation of the new tax system. The successful implementation of the GST will make the entire country - a single market, which will not only offer the better economies of the scale but also optimise the utilization of our natural and human resources in the best interest of the economy. In this ever-changing sociopolitico and economic environment on the national and international horizons, HYHU\ V\VWHP KDV WR ÀQH WXQH LWVHOI with the passage of time and to remain relevant and contemporary and the same holds good for GST also.

S B Singh

Chairman, Gramin Bank of Aryavart, Lucknow

Shubhangi

D/o Shri S B Singh working as Risk Consultant, with CRISIL, Mumbai

Taarangan

June, 2017

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Practical Avenues to Increase Branch Level 3URÀWDELOLW\

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D Chandramouli '\ *HQHUDO 0DQDJHU 1%* 1 1HZ 'HOKL

Ajay Kumar Chief Manager 1%* 1 1HZ 'HOKL

Taarangan

June, 2017

43

SELF DEVELOPMENT

QUEST FOR BOOKS! dear friend Amar 0 ynostalgic mood the

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JANUARY 2017

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Shri Indrajeet Choudhary Rajnandgaon Branch Raipur Zone

Shri Jilakara Venugopal Shri Ajit Kumar Das

Bukkapuram Branch Andhra Pradesh Zone

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FEBRUARY 2017

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Shri Saket Kumar Palanpur Branch Gandhinagar Zone

Shri Manish Kumar Shri Vitthal Onkar Chavan

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MARCH 2017

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Shri Vivek Shende

Ms Sonia Jeowani

Kadegaon Branch Kolhapur Zone

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Shri Rishikant Dubey RLVN 0DQDJHPHQW 'HSDUWPHQW

APRIL 2017

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Ms Aruna Agnihotri

Shri Pritesh Salunke

Churchgate Branch 0XPEDL 6RXWK =RQH

Sakri Branch Pune Zone

Shri Shubham Sinha 'XEDJJD %UDQFK Lucknow Zone

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petve, 2017

Mrs. Anupama Arun Kedar 0XPEDL 6HUYLFH %UDQFK 0XPEDL 6RXWK =RQH 1st Position in 53rd Senior 0DKDUDVKWUD 6WDWH ,QWHU 'LVWULFW Carrom Championship 2017-18 KHOG DW .XGDO 0DKDUDVKWUD

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d } j ¦ àj¦ ¸ }°j¦ Ø l Î} j¦ CØ l j¦ | Û| Ø d j¦ o ¥ }° }Ø Î d x } j¦ j¦ j¦Ø dØ Ø d j¦ ¥j¦ Î x } j¦ « ܦ t l° ܦ d z j ¦ { } j¦ o | d « j¦ j¦ l l « l ã | Û j¦Î Ø It was great to receive the o Ø y ¥ j¦ zÛ Î x Î z k j¦ }° || Ø Î e ¥ j¦ e } j¦ j ¦ { March 2017 issue of “Taarangan”, packed with interesting and informative contents j¦ ¥j¦ « j ¦ y y f| j ¦ } j ¦ z « j¦ ã Û o | Ø j¦ on a wide range of issues. Perspectives from the Hon’ble d ã §Ø j ¦ i ij¦ o }°z | j¦ l Î x e j ¦ y ÎÛ j¦ ¥j¦ « MD & CEO on the emerging banking scenario vis-à-vis the d f| j ¦ } j ¦ z « j¦ }° }Ø f} { « j¦ ã Û } j¦ « y | challenges that are confronted with by the banks & the need to stay increasingly focused on customer centricity should guide one with greater z | j ¦ i { z Î x r } ¥ Ç Î j¦ Ø l } j¦ fÏ Ï clarity in thoughts & perceptions on the path to be pursued for progression fØj ¦ tØ j¦Û | e¥ go e¥ j¦ }° }Ø j¦ l Ûx } j¦ j ¦ }°j¦ | j ¦ ZLWK D GHÀQLWH SXUSRVH 7KH HGLWRULDO FRPPHQWV UHÁHFWLQJ WKH SULVWLQH JORU\ RI ´7DDUDQJDQµ DQG WKH FRYHWHG DZDUGV WKDW LW KDV EDJJHG QRZ FDUU\ WKH VWDPS RI DQ i d } j¦ d } j¦ }°j¦ | · } Û tÛ j¦ Û d absolute class. Î z¥j¦ { e¥x While scanning my book shelves that was long overdue, the other day, it was a pleasant v £ q Ü ¡Ï VXUSULVH WR ÀQG RQH VDYLQJV EDQN SDVV ERRN QHDWO\ ZUDSSHG XS LQ D SODVWLF FRYHU containing the four digit account number and in the joint names of my late father and }° k q ã i| io } Û Û PRWKHU DQG RSHQHG ZLWK 7KH %DQN RI ,QGLD /WG 'KDUDPSHWK 1DJSXU EUDQFK ZD\ EDFN ܦ Ûz z on 23/11/1966 during the pre-nationalization days. I vividly recollect accompanying my father then to this branch when it used to function in two shifts. I followed his footsteps WR KDYH RQH VXFK DFFRXQW RSHQHG LQ P\ QDPH DOVR VXEVHTXHQWO\ DW \RXU 3UDWDS 1DJDU 1DJSXU EUDQFK GXULQJ WKH HDUO\ HLJKWLHV $V D EDQNHU P\VHOI EHOLHYH PH LW ZDV D fantastic experience to put myself in the place of a customer and approaching the bank. If I am not wrong, from a bank then carrying the slogans “Where VHUYLFH PDNHV WKH GLIIHUHQFHµ ´<RX KDYH D IXWXUH LQ WKLV VWDUµ ´7KH EDQN WKDW FDUHVµ DQG QRZ WR ´5HODWLRQVKLS EH\RQG EDQNLQJµ WKH EDQN KDV consistently evolved well, over period, to acquire a status of a premier bank. CONGRATULATIONS to the editorial WHDP RI ´7DDUDQJDQµ IRU D IDEXORXV LVVXH RQFH DJDLQ Srinivasan Umashankar %DQN RI 0DKDUDVKWUD

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