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Wednesday, May 25, 2016

RBI looks to limit customer liability in banking frauds

The Reserve Bank is examining limiting a customer's liability in banking frauds and will soon put in place a framework for the same, Deputy Governor S S Mundra today said. 

" RBI is already examining whether to issue regulatory direction with regard to limiting the liability of customers on fraudulent transactions arising out of frauds and electronic banking transactions," Mundra said at an event organised by the Banking Codes and Standards Board of India ( BCSBI) here. 

The objective of BCSBI is to plan, evolve, prepare, develop, promote and publish comprehensive codes and standards for banks and provide fair treatment to customers. 

"The idea is that the liability for the customer should not go beyond a point," he made it clear. 

The discussion, according to the deputy governor, centred on fixing the limit is on and a framework will be announced soon. 

"We are discussing this and once we finalise, the limit will be announced. We expect to finalise it very shortly," he later told reporters. 

Mundra said that with the increase in online transactions, there has been a rise in complaints related to electronic banking transactions, unauthorised fund transfers, fraudulent withdrawals from ATMs using duplicate cards and phising e-mails, among others. 

"It is imperative to have a robust mechanism to prevent incidents of frauds in mobile Net banking and the electronic fund transfer so as to retain customers' confidence in these delivery channels," he said. 

The deputy governor highlighted benefits of such channels from the banks' perspective faced with the challenge of competition and the need to improve customer base. 

But at the same time, raising customer awareness for safe usage of these channels should be an important item on the agenda of the banks, he emphasised. 

"... if customers don't get confidence in the channels and decide to abstain from them, then it can have only two outcome - either customer would migrate or customer would come back to the traditional channel which would mean higher operating cost for the banking system," he reasoned. 

RBI is also concerned about the mis-selling of products by banks. 

"There has been an increasingly large number of cases of mis-selling of third-party products to customers by the banks, particularly insurance products, including bundling of third-party products with loans," he said. 

Mundra further said the RBI has undertaken study on mis- selling of third-party products by banks in semi-urban and rural areas and the results are very startling. 

He slammed banks for totally ignoring or rather knowingly violating the 'Right to Suitability' enshrined in the RBI's Charter of Customer Rights in an attempt to mis-sell products to customers. 

Under the Rights to Suitability Charter, the products offered by the banks should be appropriate to the needs of the customer and based on an assessment of their financial circumstances and understanding. 

"RBI is seized of this issue and may take a strict action, including heavy penalties, if the banking industry continues to follow such unethical and unaccepted practices of mis-selling of third-party products," Mundra warned. 

He advised banks to put in place a system of periodic inspections of the sale of third-party products by either own staffs or by direct selling agents (DSAs). 

The deputy governor said the RBI has recently undertaken a survey of 4,000 ATMs of various banks in the country and found the results to be not so comforting. 

"Almost one-third of the ATMs those were surveyed, they were found to be not functioning at that point of time. There were several instances of violations of regulatory instructions on certain mandatory displays, on the facilities for differently abled customers," he said. 

Mundra said the RBI is analysing the outcome and would be taking necessary supervisor action in this regard. 

He said the RBI in consultation with the IBA is working on a standardised form for account opening across banks. 

The RBI is also planning to augment the number of its banking ombudsmen offices in the near future, he added. 

Source:-The Economic Times

CHQ News:- Up-dation of Gradation list of Inspector Posts cadre from 1992 to 2000

All members of this Association are aware that Directorate vide memo No. 9-9/2011-SPG dated 22.02.2016 has called for some additional information related to few IP/ASP candidates of Bihar/Karnataka / Kerala / Tamil Nadu /Jharkhand / Madhya Pradesh / Rajasthan/ Uttarkhand and Uttar Pradesh Circle working in APS for updation of seniority list of Inspector Posts cadre for the year from 1992 to 2000. This updation is being kept ready for easily convening of regular DPCs of PS Gr. B in near future and also to avoid representations from the officers.   

It is learnt that till today Jharkhand and Rajasthan circle has not submitted requisite information to Directorate.

APS Directorate has also not submitted the required information to Directorate as required in Annexure-I of the above said letter.  

CHQ News:-Supplementary DPC for promotion to the cadre of PS Gr. B for the year 2015-16 ..... update

It is learnt that WB circle has still not submitted required and correct information of two officers to Directorate and therefore supplementary DPC is delayed. Therefore Directorate has decide to ignore these candidates of WB circle from zoc and proceed further. CHQ welcomed the move of the Directorate. We expect the result of supplementary DPC very soon.

Tuesday, May 24, 2016

Out of order: RBI says a third of ATMs don't work

MUMBAI: A third of India's cash machines don't work, the central bank said, posing a challenge for the government as it strives to provide banking services to millions of poor citizens living in rural areas. 

The RBI surveyed almost 4,000 ATMs across the country with a "sample size fairly representing geographies and bank categories", according to Deputy Governor S.S Mundra. 

"Survey results are not comforting in any way. Almost one third of the ATMs were found to be not working at that point," he said in a speech in MUMBAI late Monday. 

Many ATMS did not make provisions for disabled citizens, the deputy governor added. 

"Violation of regulatory instructions on display material, facilities for differently abled etc. were also observed. We will be taking necessary supervisory action in this regard," Mundra said. 

Prime Minister Narendra Modi has made bringing millions of Indians into the financial system a priority since he was elected two years ago and wants every citizen to have a bank account. 

The World Bank estimates that about 53 per cent of Indian adults now have access to a formal bank account. 

Functioning ATMs are seen as vital to driving financial inclusion, particularly in remote areas where banks may not open branches. 

In his annual budget speech in February India's finance minister, Arun Jaitley, announced a "massive nationwide rollout" of ATMs over the next three years. 

Source:-The Economic Times

Sexual Harassment at the Workplace: What it Means, and Responsibilities of Employer

*Dr. Prerna Kohli

Sexual Harassment at workplace is a violation of women’s right to gender equality, life and liberty. It creates an insecure and hostile work environment, which discourages women’s participation in work, thereby adversely affecting their economic empowerment and the goal of inclusive growth. Sexual harassment has a demoralizing effect on women and they feel objectified and stop asserting. Sexually harassed women suffer from simple irritation to headache, weight loss or gain, nausea, lowered self-esteem to deep rooted anxiety. Thus, sexual harassment has a major impact on the mental and emotional well-being of women.
Sexual harassment is best explained as: “bullying or coercion of a sexual nature or an unwelcome or inappropriate promise of rewards in exchange for sexual favours”.
Some of the psychologically damaging effects of sexual harassment at work include long term depression and Post traumatic stress disorder which includes re-experiencing the trauma, and avoiding people or things that may remind the victim of the harassment.  Research shows that sexually harassed women withdraw socially, and are not able to function in their day to day social setting. The feeling of shame, stigma and humiliation attached to the experiences make them socially very vulnerable. Sexual harassment is being linked to sleep disorders which may be due to the stress and anxiety of the event that affect the sleep habit. As indicated by some studies, in some extreme cases, women who have experienced frequent unwanted sexual harassment have attempted to commit suicide out of desperation for not being able to address, voice or avoid the harassment.
The Protection of Women from Sexual Harassment at Workplace (Prevention, Prohibition and Redressal) Act, 2013 focuses on prevention of sexual harassment at workplace and provides a redressal mechanism.  The Act has been highlighted over the last year due to the efforts of the Government to ensure its enforcement.
The Act upholds women’s fundamental rights to equality, right to live with dignity and right to practice any profession or to carry on any occupation, trade or business which includes a right to a safe working environment, free from sexual harassment as provided under Article 19 (1) (g) of the Indian Constitution.
In order to further mainstream the issue and to help organizations to standardize their response mechanisms, Ministry of Women and Child Development, Government of India has recently published a Handbook on the Act. The Handbook can be downloaded at booklet has been sent to all Central Government Ministries/Departments, State Governments and Business Chambers for use as ready reckoner.

The Ministries/ Departments in Government of India have been advised by WCD Ministry to ensure the compliance of the Act. The Associated Chambers of Commerce & Industry of India (ASSOCHAM),  Federation of Indian Chambers of Commerce and Industry (FICCI), Confederation of India Industry, Chamber of Commerce and Industry (CCI) and National Association of Software and Services Companies (NASSCOM)  have  also been  requested to ensure effective implementation of the  Act amongst their  members in private sector  entities.
The Women & Child Development Ministry is also trying to mandate the disclosure of the constitution of the Internal Complaints Committee(ICC) in the Annual Reports of the Companies.
The above mentioned Act covers all women, irrespective of their age or employment status and protect them against sexual harassment at all workplaces both in public and private sector, whether organized or unorganized. The domestic workers are also included under the ambit of the Act. The Act defines “sexual harassment at the workplace” in a comprehensive manner and casts an obligation upon all the organizations (whether private or public sector) having 10 or more workers to constitute Internal Complaints Committee (ICC) for receiving complaints of sexual harassment.
A complaint of sexual harassment can be filed within a time limit of 3 months which can be extended in certain situations. Employers are required to organize workshops and awareness programmes at regular intervals for sensitizing the employees about the provision of this legislation and display notices regarding the constitution of Internal Committee and penal consequences of sexual harassment etc.
It is the responsibility of the Appropriate Government (Central Government, State Government or Union Territory Administration) to monitor the implementation of the Act and to maintain data on the number of cases filed and disposed of in respect of all cases of sexual harassment at the workplace. The Act authorizes the Appropriate Government to make inspection of the records and workplace in relation to sexual harassment.
Section 26(1) of the Act states that an employer will be liable to a fine of Rs 50,000/- in case of violation of his duties under the Act and in case of subsequent violation, the amount of fine will be doubled together with penalty in the form of cancellation of his licence or withdrawal or non-renewal of the registration required for carrying out his activity.

            It is the obligation of each employer to ensure that the work place is free of sexual harassment for all.  Each one of us has to work towards empowering women by making them aware of their basic rights about sexual harassment at the work place.  Let India be a Safe India where women can work fearlessly and with dignity.

*Dr. Prerna Kohli, PhD, is a  Clinical Psychologist. The views expressed are personnel

All you need to know about NEET row

Amid confusion over common medical examination, these quick points will help you understand what the NEET controversy is all about:

President Pranab Mukherjee signs order deferring implementation of NEET

President Pranab Mukherjee on Tuesday signed an order that allows state boards to skip the uniform medical entrance examination, NEET , for a year.

NEET is the National Eligibility-cum-Entrance Test for admission to medical colleges.

The ordinance- or executive order - cleared by the Cabinet on Friday, is aimed at "partially" overturning a Supreme Court order.

The top court ruled last month that NEET would be the only test for admission to medical courses in India. It turned down an appeal by several states who wanted to hold their own separate medical entrance exams.The top court order said all government colleges, deemed universities and private medical colleges would have to use NEET's results and not their own entrance exam results for admission.

The ordinance was sent to the President on Saturday after which he had asked the health ministry to explain the reason for taking the ordinance route to keep state boards out of the ambit of NEET..

Health minister JP Nadda had met Pranab Mukherjee on Monday to answer the President's questions on the need for urgency in issuing the executive order.

Sources said the minister briefed the president on different issues related to the examination including issues like difference in state boards exams and syllabus and regional languages.

Nadda had earlier said the government was committed to implementing the as per Supreme Court's order, but was also looking for ways to accommodate the concerns of the states.

Source:-The Times of India

Monday, May 23, 2016

Ad-hoc Promotion to JTS Group-A

The following PS Group-B Officer(s) is/are promoted to JTS Gr-A Cadre on temporary and adhoc basis and allotted Regions/posted against the post as mentioned below vide Circle Office Memo No.ST/2-34(3)/2015 dated 16/17-05-2016:-

Sl No
Name of Officer
Present place of posting
Allotted to the Region
Posted on adhoc Promotion
Ratikant Swain  
Asst Manager (Admin), Postal Printing Press, Bhubaneswar
Sambalpur Region
SSPOs, Sundargarh Division, Sundargarh w.e.f. 01-06-2016

CHQ News:- Heads of Circle Conference held at Hyderabad 20-22 May 2016

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CHQ News:- Circle Conference : Haryana Circle

20th Biennial Circle Conference of All India Association of Inspectors and Assistant Superintendent Posts, Haryana Circle Branch was held at Hotel "LE GEM" G. T. Road, Near Mini Secretariat, Opp. PVR Cinemas, Panipat-132103 on 15th May 2016. The following office bearers are elected unanimously for next term.

1.   President : Shri Ramnath, ASP, Yamunanagar Sub Division.

2.  Circle Secretary : Vijay Chauhan, ASP (Vig.) o/o the CPMG, Haryana Circle, Ambala. (Mobile No. 9416224332)

3. Treasurer : Rajinder Kumar Verma, SDI (P), West Sub Division, Karnal (Mobile No. 7206072155)