NO  HONKING PLEASE !

Do you also experience everyday and get upset, irritated and agitated when Motorists, Two-Wheelers and Auto Drivers honk behind you repeatedly and unreasonably.  If so, read on…….

In other Countries, particularly in Western Countries, you will all agree, no one honks. Honking is considered to be an act of uncivilized behaviour and people get offended and feel insulted if some Motorist behind them horns.

In India, even while you are waiting a Red Signal with count-down meter displaying about 20 seconds to go, in a busy Junction, Motorists behind you Honk repeatedly. I do not know whether they expect you to Take-off vertically  up like Helicopter and give them way ! As a matter of fact they themselves may not know that they are honking and yet do it unconsciously and out of habit !

We, as proud Indians resolve together Strictly Not to Honk from 9 P.M. to 6 A.M from TO-NIGHT as a mark of respect and consideration to our Senior Citizens, Young Children and Patients and allow them to sleep peacefully.

Let us also resolve to control our temptation to honk and minimize it, if not altogether Stop it.

      Looking forward to your support, compliance and active participation by tweeting, re-tweeting, posting in facebook  and  ‘e’mailing every-day tirelessly till we achieve our GOAL.

INSURANCE COVERAGE ON BANK DEPOSITs

INSURANCE COVERAGE ON BANK DEPOSITs

Dear Friends,

Govt. of India has enacted “Deposit Insurance and Credit Guarantee Corporation Act, 1961” to provide for the establishment of a Deposit Insurance and Credit Guarantee Corporation for the purpose of covering insurance of Bank deposits and guaranteeing repayment of Deposit amount in the unlikely event of any Bank unable to pay back the deposit to the Depositors.
Under this Act, the above Corporation was established by Reserve Bank of India with 100% Share capital, fully owned by them. However, RBI provides insurance coverage for Bank Deposits only for a Maximum amount of Rs.1,00,000/- (one lakh only). And there is no coverage for any deposits more than 1 lac. This maximum limit was fixed in the year 1993 and since then there is no revision.
Everyone will agree that one lakh bank deposit to-day means Nothing and generally people keep more than Rs.1 lakh as bank deposits to take care of unforeseen medical and other expenses. In case of senior citizens who depend on interest income only for their day-to-day living in the absence of pension or other income, it can be easily imagined than explained as to how much deposits they should maintain, when everything is becoming costlier day by day !
Since our country’s Banking industry is totally controlled by our RBI, and they exercise very effective monitoring system including periodical auditing of all banks, we have full faith in our Reserve Bank of India and hence feel our deposits are safe. However, we have slight apprehension and fear since maximum insurance coverage is only for 1 Lakh.
Our genuine apprehension and fear increases by looking at the NPA (Non Performing Assets) figures declared by various Nationalised Banks and also Private Banks in their financial reports (Balance Sheets). Like Price index, this is also ever on the increase. Further number of Banks in private sector also is going up. In addition, the fact that many States and also Central Govt. are competing with each other in waiving of Loans,
generously, to fulfil their pre-election promises, also adds to our anxiety. We as depositors in Banks genuinely feel very much concerned about the security of bank deposits without any insurance coverage.
We, therefore, appeal to Honourable Finance Minister and Governor Reserve Bank of India to increase Insurance coverage on all Bank Deposits without any maximum limit stipulation. In view of the fact that the above Corporation (DICGC) is charging Insurance premium from the Banks, and also RBI controls the Bank activities in the country, in all fairness, our appeal is justified fully and it should be approved at the earliest, without any extra expenditure to the Exchequer. However for any reason, if it is not possible to provide unlimited insurance cover, we request to increase the maximum limit to atleast Rs. 5 lakhs per bank branch immediately, so that we, depositors feel safe and secured about our deposits.

With Greetings and warm regards,

B.Namasivayam
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