Warrier's COLLAGE July 27, 2021

Welcome to Warrier's COLLAGE On Tuesday July 27, 2021 Good Morning Kerala Bank : B 2 & H 2 (BefiNews article) Nice Day M G Warrier M Padmanabha Swamy Temple Treasure https://youtu.be/4SJGiks-Pqw A Select Responses 1) Sitendrakumar Collage on Monday Very good account of Mahabharata. We learn a lot from this great epic. The remarks by Mark Twain and Napoleon are witty. Were Kripa and Kripacharya the same persons? It looks so from para G, or is it my imagination? Kripacharya survived the Mahabharata war. So many new facts I have come to know from your Collage today. (Thanks. The 12 warriors who survived Kurukshetra war Mahabharata are Krishna, Arjuna, Bhima, Yudhishthira, Nakula, Sahadeva, Yuyutsu, Satyaki, Kritavarma, Ashwatthama, Kripacharya and Vrishaketu. I also think Kripa and Kripacharya are same-M G Warrier) 2) M G Warrier Some readers enquired about Post-Retirement Care Home facilities available in India. Many have come up in recent times. A Google Search will give more information. Like : https://icaremylife.com/old-age-homes/?gclid=CjwKCAjwuvmHBhAxEiwAWAYj-ALjVxbaLWsK4C6o16Its6_i9ddeDi54nk7z1bu6odyzDrdyR6l4LBoCogsQAvD_BwE Upper End Costs : Know Your Cost Joining Fee – Rs.2,35,000/- Refundable Deposit – Rs.20,00,000/- Advance Monthly Charges – Rs. 65,000/- Total Upfront Payment – Rs. 23,00,000/- Monthly Charges – Rs. 23,000/- (Only for illustrative purposes. As discussed earlier selection of any stay arrangement should be after weighing need, location advantage, cost-benefit aspects, trust-worthiness and availability of facilities-Warrier) 3) V N Kelkar Guru Poornima In the month of Ashadha, poornima moon is in DHANU (SAGITTARIUS) rashi's (zodiac sign) poorvashadha/uttarashadha nakshatra. Therefore the name of the month is Ashadha. (Continued at H1) B Current Affairs 1) Kerala Bank https://frontline.thehindu.com/the-nation/article30336729.ece/amp/ 2) Cooperative Movement in Kerala* Excerpts from the Article published in BefiNews, July 2021 Role of Kerala Bank in the Socio Economic Development of Kerala - An overview Introduction V. Reveendran Vedavathy Ex-General Secretary, RBEA, Trivandrum & Chairman, Board of Management, Kerala Bank The Co-operative movement, started well before the formation of the state of Kerala, has deep roots in the land and plays a dominant role in the socio economic life of the common man, both in rural and urban areas. Its inception in the state can be traced to over hundred years ago, when the Cochin and Travancore Cooperative Societies Acts were passed in 1913 and 1914 respectively. Consequent to the formation of Travancore-Cochin State in 1949, the Travancore-Cochin Cooperative Societies Act was passed in 1951. The said Act remained in force until 1969, when the inevitability of having a common co-operative Law for the state of Kerala, led to the passing of the Kerala State Cooperative Societies Act. (Continued at H2) (*Cooperative Movement in Kerala is attracting world attention today. Collage will try to put together some relevant thoughts on the issue this week-Warrier) C Collage in Classroom Ramayanam https://factsanddetails.com/world/cat55/sub354/entry-5628.html The Ramayana (pronounced approximately as Raa-MEYE-a-na) is somewhat reminiscent of the Odyssey while the Mahabharata is somewhat reminiscent of the Iliad. Composed around the the same time as the Mahabharata, the Ramayana is written in 24,000 couplets. It is essentially a story of love and banishment. The symbolism of the story has been interpreted a number of ways but is widely seen as a story of good overcoming evil, with dharma or duty. [Source: BBC] D Readers' Contribution My Country My People* This is a real story of an Indian soldier when he faced one of the most feared Military Leaders of the modern world. 15 Aug 1936 was not the Independence day for India. Nonetheless the date is significant as it figures in the pages of world history and is worth sharing with our countrymen. It was the Berlin Olympics and India was to play the mighty Germany in the Finals of the Hockey tournament. Just before the commencement of the encounter the Indian Coach, Pankaj Gupta, got the Congress Flag (Tri colour with charka) into the teams dressing room. All the players saluted the Flag and sang Vande Mataram, the then acknowledged National Anthem of India. When India had reached the hockey finals, it was presumed that Germany would emerge the winner. It was assumed that another gold medal was just a matter of time for the Germans. To boost the morale of his team, the Fuehrer Adolf Hitler decided to attend and witness the match. By half time India was leading 1-0. The playing conditions were not conducive for India in the second half. Fearing defeat the German ground staff deliberately drenched and rendered the outfield wet to slow the fast dribbling Indians in their sub-standard canvas shoes. Dhyan Chand the captain of the Indian team was facing acute difficulty in running on the wet ground in his canvas shoes. Dhyan Chand calmly took off his shoes and started playing barefoot. India won the Final match and the Gold medal by 8-1, of which 6 Goals were scored by Dhyan Chand himself. Hitler, left the stadium halfway through the match, as he could not bear to see his team lose. Later, when Hitler came to know about the magic of Dhyan Chand, he expressed his desire to meet Dhyan Chand. On being informed by the German Chancery, Dhyan Chand could not sleep the entire night. Dhyan chand was numb with fear as were every member of the team, wondering what would happen in the lion's den. The next morning Dhyan Chand found himself, before Hitler. Hitler took a look at the sub-standard canvas shoes of Dhyan Chand and enquired "what else you do, when not playing hockey ?" Dhyan Chand: I am in Army. Hitler: What is your rank? Dhyan Chand: I am Lance Nayak Hitler: Come over to Germany and I will make you a Field Marshal. Dhyan Chand was in flutter, not understanding whether it was an instruction to him by the Supreme Commander of the mighty German Army or an offer. Breaking his silence after a few seconds, Dhyan Chand replied in chaste Hindi, "India is my Country, and I am fine there". None of the Generals accompanying Hitler could respond to the patriotic rebuff rendered by the plucky Indian Soldier. Hitler is said to have taken his eyes off Dhyan Chand's canvas shoes briefly and retorted," As you like it " and stomped away in a huff. We should be proud of the humble Lance Nayak of the Indian Army who did the Indians (then under the yoke of Britain) proud. . Dhyan Chand who was later granted a Commission in the Indian Army and ultimately retired as a Major, is immortal in the annals of Indian Hockey. *Received from Vathsala Jayaraman Chennai (Additional Link : Ehttps://olympics.com/en/news/dhyan-chand-the-hockey-wizard-who-had-the-world-on-his-stick) E Blogs & Links 1) Urmila's role https://www.thehindu.com/society/history-and-culture/the-unsung-sacrifice-of-urmila/article19369516.ece The sacrifice of Sita and Rama's siblings has been the subject of endless debates. Amidst all this glorification, one woman's selflessness goes almost unnoticed by the epic author. That of Urmila, Lakshmana's wife. All ready to accompany Lakshmana just as Sita is, Urmila is stopped by Lakshmana. “I have to serve Rama and Sita. You'll be a distraction. Besides, you can take care of the elders by remaining behind,” he says and she reluctantly obeys. 2) Bhadrachalam Srirama Temple https://www.speakingtree.in/blog/lord-sree-sita-ramachandra-swamy-temple-in-bhadrachalam/m-lite The temple in Bhadrachalam is closely connected with the life of the 17th-century saint composer Kancharla Gopanna who was known as Bhakta Ramadas. Gopanna was the Tahasildar of Bhadrachalam (second half of the 17th century), is said to have used money from the government treasury to build this temple, and was imprisoned in a dungeon at Golconda. Lord Rama is said to have miraculously given the Sultan the money spent by Gopanna, after which he was released. Gopanna then became Bhadrachala Ramadasa and went on to compose innumerable number of songs in Telugu in praise of Rama. Bhadrachalam and Vijayanagara are sites said to have been closely associated with the Ramayana. Rama, Sita and Lakshmana are said to have stayed at Parnasala, 35 km away from Bhadrachalam. Rama is said to have crossed the river Godavari on his way to Sri Lanka to rescue Sita, at the spot where the Bhadrachalam temple stands, on the northern bank of the river. Legend has it that the son of Meru and Menaka, Bhadra, performed penances towards Rama here. Kabirdas, a Muslim by birth is also closely associated with this temple. It is believed that the images of the deities miraculously disappeared when Kabir was refused entry into the temple and that they reappeared miraculously upon his being permitted to enter. F Leisure English Vs Hindi* English and Hindi always Contradict : English : The sooner the better. Hindi : Jaldi ka kaam shaitaan ka hota hai. English : Think of the devil, and the devil is here. Hindi : Badi lambi umar hai tumhari, abhi tumhe hi yaad kar rahe the. English : Don't wait, fight for your rights. Hindi : Sabra ka fal meetha hota hai. English : You silly cow! Hindi : Bichari gaaye jaisi hai. and the most striking of all, English : As wise as an owl. Hindi : Ullu ka pattha. *Received from Shivaram Shetty Ex-RBI Mumbai G Urmila in Ramayana https://www.bonobology.com/little-known-story-of-urmilas-love-for-lakshmana/ Spirituality & Mythology Lakshman And Urmila: The Little Known Love Story Of Ramayana Varun Prabhu Urmila and Lakshman: The Little Known Love Story of Ramayana Love comes in unknown forms. And the stories about them are many. Even in our own mythology and legends, there are tales chronicling the love of so many that one could admire the sacrifices they made for each other. Some stories became quite popular while the others fade over time. But if one searched through our epics and mythologies, they could unearth those faded stories, though they might find varied versions. One such version of one such tale is that of the love Urmila bore for Lakshman. The Ramayana is quite popular for showcasing the love story of its protagonists and the main characters – Rama and Sita but little is known about Lakshman and Urmila. It sings praises of how Rama moved heaven and earth to find Sita when Ravana, the asura King of Lanka, abducted her, which led to the battle of Lanka where the latter was killed. We all know this story. But are we aware of the fact that just like Sita was a feminine figure known for her sacrifices, her sister, Urmila, harboured a similar personality as well? H 1) Continued from A3 On this Poornima day, Aadi Guru Lord SHIVA gave YOGA diksha to Saptarshi (Vashishtha, Marichi, Pulastya, Pulaha, Atri, Angirasa and Kratu). It is believed that GURUSHISHYA tradition began from this day. All scriptures are revered as GURU. From time immemorial NATURE is regarded as significant Guru. A part of this is planet GURU or BRIHASPATI (Guru of the Gods) JUPITER. It's the fifth planet from the SUN and is the largest in the solar system. Guru completes one circle around the SUN in 12 years. Therefore it remains in one rashi for about twelve months. A period of twelve years is reckoned as ' तप ' . Every 12 years when Guru is in SINHA (LEO) rashi, we have SINHASHTHA in Nashik. Guru is a gas giant with mass more than two and half times that of all other planets. It's extremely large and has seventy moons. Its biggest moon (GANYMEDE) is bigger than BUDHA graha (planet MERCURY). In jyotish (astrology) science the Guru's influence is called 'GURUBAL' (गुरूबळ) which is seen in important events in one's life like marriage. From this month I.e. Ashadha, GURU can be seen in the sky with naked eyes on the East after 9.30 pm till midnight. Probably the ancestors knew about Guru's importance and hence they call him as 'BRIHASPATI', the GURU of the gods. Jupiter represents education, wisdom, wealth, happiness and knowledge in Vedic astrology . Being the largest planet in our solar system it is considered as Guru. 2) Continued from B2 Thereafter, this became the common co-operative law in Kerala which subsequently was revised and modified at various stages. The first Cooperative Society registered in the erstwhile State of Travancore viz; The Trivandrum Central Cooperative Bank in 1914, was later rechristened as Kerala State Cooperative Bank Ltd.(KSCB). This long and extended history of the cooperative movement in the State is presently witnessing the unfolding of one of its epoch making chapters. As a part of a bold and radical policy decision of restructuring the state's existing cooperative structure, the Government of Kerala has brought about the amalgamation of 13 District Cooperative banks with the KSCB with the approval of the Reserve Bank of India (RBI). Thus, from November 2019, a single entity under the brand name 'Kerala Bank' has begun its functioning in the State. At a time when the financial system is undergoing rapid transitions due to the advent of newer and more sophisticated technology based products and services, the cooperatives are increasingly required to function under enormous competitive pressures from other leading market playersincluding commercial banks, capital market institutions, non-banking financial intermediaries etc. Added to these conditions, the recent episode of the failure of the mighty, Mumbai based PMC bank has been a pointer towards the need for a complete overhauling of the existing systems and practices in cooperative institutions. To survive and thrive in the face of this changing environment in the financial sector, it is crucial to accelerate the adoption of modern digital technology, improve manpower skills, allocate resources proficiently and embrace the best of business and government practices as to maximise return on investment while staying healthy and well within the bounds of prudential regulation. It is with this vision that the Kerala government, following on its famed 'Kerala model' growth path, envisaged the unique and hitherto unfamiliar model of the Kerala Bank in the state. The background of the formation of Kerala Bank The short term cooperative credit structure in the State was, traditionally, a three tiered system consisting of Primary Agricultural Cooperative Societies (PACS), District Cooperative Banks (DCBs) and the Kerala State Cooperative Bank. The thought of forming a separate entity through a process of restructuring/reorganisation of the existing structure in order to meet the emerging challenges of a dynamic financial sector was looming large in the minds of the people associated with the cooperative movement in the State, specifically the functionaries of the Left Democratic Front (LDF). As the culmination to such a thought process, the LDF in their election manifesto for 2016 legislative assembly election, unequivocally declared that once elected to power, they would propose to form an Apex bank in the Cooperative sector by restructuring the short term agricultural cooperative credit structure from its existing three-tier to a two-tier structure. The idea was to consolidate the cooperative credit institutions to form a model Scheduled Commercial Bank in the Cooperative sector in which the Government of Kerala will have a major stake and which will be well- equipped to compete with any other commercial or new generation bank operating in the State. It was conceived to be one of the largest and strongest banks in Kerala with the capability to ensure hassle-free, tech-based banking products and services to the common man at affordable costs by leveraging the best in modern banking technology. Pre-merger context - Cooperative Structure in Kerala Evolved over the years, the three tiered short term agricultural credit structure in the state has the PACS, numbering around 1650, at the base level, which are federated into the district based DCBs, occupying the middle layer. The 14 DCBs, in turn, are federated into the State Cooperative Bank at the apex level. 60 Urban Cooperative Banks (UCBs) and its branches numbering around 500 which are directly under the supervision of the Reserve Bank of India(RBI) also hold a prominent place in this cooperative structure. Other than these, there are innumerable other cooperatives functioning at the grass root level such as milk societies, various consumer societies, coir workers and construction workers societies etc. which have their own federations at the apex level and have business relationships with the KSCB. With its multi-faceted structure and diversified activities, the cooperative movement in Kerala has always been a role model to other states of the country. Appointment of Expert Committee headed by Prof.M.S Sriram, IIM Bangalore and Special Task force. Once the LDF was voted to power in 2016, in keeping with their election promise, the new Government appointed an Expert Committee under the chairmanship of Prof M S Sriram to analyse in detail the proposed structural changes for setting up the new bank.( Prof Sriram of the Indian Institute of Management, Bangalore is a member of the eight-member expert committee, constituted by the RBI in February 2021. One of the items of reference is to provide a regulatory road map for strengthening Urban Co-operative Banks and to study the sector's consolidation prospects.) Experts from various fields were included in the panel and after an in-depth study, the Sriram Committee submitted its report to the State Govt. on April 28, 2017. Soon after, the Cabinet, in principle, approved the recommendations contained in the Expert Committee report. The implementation of the recommendations had to be carried out by taking into account the socio-economic fabric of the State. To this end, the State Government constituted a special Task Force headed by Shri V R Raveendranath, former Chief General Manager, NABARD and experts from the domain of Banking, Cooperation and Information Technology, to examine the recommendations made by the Expert Committee and to prepare a road map for the formation of the new bank, retaining a cooperative and progressive ideology while seeking necessary approval from the concerned regulators. Reserve Bank of India approval for the Amalgamation The Task Force examined in detail the various recommendations made by the Expert Committee, primarily from the regulator's perspective. After weighing in on such factors as the prevailing competitive banking environment, the legal frameworks in place and Kerala's fast changing socio- economic canvas, a few changes relevant in the implementation process were suggested. Accordingly, a detailed proposal for setting up of the new bank by merging the DCBs with the Kerala State Cooperative Bank Ltd, thereby delayering the middle strata, was submitted to the RBI through NABARD for the mandatory in-principle approval. As the proposal from Kerala was the first major such proposal for the amalgamation of District Cooperative banks with a State Cooperative Bank, it was in a sense a test case for the RBI. Earlier, a similar proposal from the State of Chattisgarh was examined by RBI, but in that case, the size and number of banks involved were much less when compared to Kerala's proposal. Keeping in line with the policy of the Govt.of India and RBI for the merger and consolidation of small banks to form strong and big banks, the Regulators accorded in-principle approval for forming the new Bank. However, the approval was subject to certain conditions being fulfilled before seeking the final approval. Incidentally, of late, in March 2021, with many other states starting to follow the Kerala model, the RBI has come out with detailed guidelines for the amalgamation of cooperative Banks . With this green signal from RBI, the short term cooperative agricultural credit structure in Kerala was reorganised into a two-tier system from its existing three- tier structure. Once the merger of all the 14 DCBs and its 800 and odd branches with the State Cooperative bank is completed, the strength and capital base of the Apex bank will increase manifold and by all probability, Kerala Bank will become the largest bank in the State in respect of balance sheet size, number of branches and employees. Furthermore, to a certain extent, the new bank would serve as a substitute for the erstwhile State Bank of Travancore (SBT), a Public Sector Bank, much dear to the people of Kerala for historical reasons. ( It was amalgamated with State Bank of India in 2017, despite stiff resistance from the people and the state government.) Amendment to the Cooperative Societies Act and Formal launching of Kerala Bank In such a backdrop, as an exceptional step in the cooperative as well as economic history of the State, the Kerala State Cooperative Bank under brand name 'Kerala Bank' was officially launched on November 29, 2019 and commenced its business operations after completion of the required formalities. It was ensured that the State Cooperative Societies Act was suitably amended to accommodate the new structural changes so as to provide the necessary legal backing as insisted upon by the regulators. Moreover, in the context of establishing Kerala Bank, one of the major conditions stipulated by the RBI was the setting up of a separate Board of Management (BOM) in addition to the usual elected Board of Directors. This Board will have to be composed of elected directors and nominated professionals from various fields such as Banking, Cooperation, Agriculture, Law etc. This peculiar supervisory setup was unique in the case of a State co-operative bank though it was earlier stipulated for Urban Banks. The requirement, however, was promptly complied with, to form the new bank. Shadow fight against formation of Kerala Bank The process of reorganisation/ restructuring the existing system was far from a smooth ride. The proponents had to pass hurdle after hurdle and fight a host of court cases filed by those with vested interests opposed to the formation of the bank. Complaints were sent to the Govt of India and the Regulators demanding the denial of permission for the formation of the Bank and a series of politically motivated campaigns and high handed legal actions against the restructuring process was unleashed. The onslaughts were triggered by disruptors within and outside the State. During the recent Local Assembly Election campaign period, the opposition United Democratic Front (UDF)even went to the extent of openly declaring that once they regained power, the Kerala Bank would be dismantled to restore the old order. In this context, it cannot be ignored that there were strong economic and sound political reasons why the Kerala Bank was formed. The Cooperative department, the State Cooperative Bank and other Departments of the State Govt. were determined to go ahead with the proposal and spared no effort to comply with the prescribed conditionalities of the regulators viz, NABARD and RBI, for getting the final approval for the new bank to carry on business under the revised arrangement. On full compliance thereof, formal approval was finally granted by the RBI in October 2019 for the amalgamation of 13 DCBs with the Kerala State Cooperative Bank Ltd, barring Malappuram DCB, which was unwilling to cooperate with the merger process and took the matter to the Court. Efforts are being made to bring them also in line, to be part of the Kerala Bank. Post merger - Governance mechanism for Kerala Bank The organisational structure for the Bank, as approved by the RBI, has an elected Board of Directors consisting of 21 members. Out of this, 13 members are elected from member PACS at the rate of one each from each District and a member to represent the UCBs. Other members are nominated Professional Directors and Ex-Officio members representing NABARD, State Govt., Registrar of Cooperative Societies etc. In addition to the above 21 members,there is provision to nominate one member from non credit societies to the Board on a rotation basis and the Govt. may nominate 2 more members as per section 31 of the KCS Act . Apart from the Board of Directors, there is the Board of Management constituted as per RBI guidelines. The Bank has seven Regional Offices in commercially important locations and 13 Credit Processing Centres, one each in every District excluding Malappuram. The PACS and UCBs in Kerala, numbering around 1650 and 60 respectively, are members of the Kerala Bank. Put together, they have a network of more than 4,625 touch points and with the growth of technology and the rolling out of technology driven facilities, they could facilitate more tech enabled touch points. Objectives of formation of Kerala bank As regards the objectives of establishing Kerala bank, Prof.Sriram committee in its report has stated that "Kerala Cooperative Bank (KCB) is envisaged as a modern bank for the common people of Kerala including farmers, women, younger generation, small and micro entrepreneurs, non-resident Indians etc. The bank is envisioned as one that will provide all products and services of a modern, information technology enabled bank. It is also expected to bring the entire bouquet of banking products and services as well as other financial products to customers of the bank as well as to the members of the primary agricultural credit societies". Kerala Bank is a typical 'Kerala model' cooperative bank raised on sound cooperative principles of providing inclusive and most modern banking facilities at affordable cost to all people; particularly those from the most vulnerable and weaker sections of society. The cooperative movement in the State has several outstanding achievements to its credit, the most striking being its reach, especially in the role that it plays in financing economic activities in different sectors of the economy. Formation of Kerala bank has opened up a great opportunity for the growth of the cooperative sector in the state. It facilitates the unification of the cooperative banking sector and thereby enhances its capacity to compete while ascertaining its stable existence. The bank is expected to undertake developmental and promotional roles for the all round strengthening of the cooperative movement. At a time when the cooperative sector is exposed to stiff competition from other well established market players, bringing together all the banks in the Cooperative Sector on a common platform, accoutered with modern systems of Information Technology (IT) and audit and governance with significant professional inputs will not only help the co-operative structure garner market shares in areas where its presence is lacking, but also help in gaining a significant amount of credibility. The consolidation process considerably Kerala Bank. The recent amendment to the BR Act 1949 severely restricts the PACS from doing any banking activity including even the usage of the name 'bank, banker, banking' as provided in the said Act. More importantly, it was assessed that inorder for the PACS to be able to retain the market share, the network and the business, there is a need for the upper tier to consolidate and provide value added services. While the PACS can continue to accept deposits and give loans and advances to its members, for its technology supported banking services and loan products, they can now look forward to Kerala Bank. Before the merger, the DCBs and KSCB used different softwares for CBS. With the software integration of the merged DCBs and KSCB to a common Core Banking Solution (CBS) and the proposed integration of the software of PACS, the technology driven products and services of Kerala Bank can be extended to the customers of PACS as well. This will pave way for fundamental changes in the customer service of PACS, across the State. The financial services sector has always been the major driving force behind socio- economic development. In this regard, cooperative credit institutions serve as catalysts in creating a better order of society


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