Tuesday, November 2, 2010

Milestone of India - PSU Syndicate Bank net up.

BANGALORE: Syndicate Bank announced that it had made a net profit of Rs.502.47 crore in the first half of 2010-11, an increase of 14 per cent over the previous year.

The bank's net interest margin improved to 3.12 per cent from 2.12 per cent. Global business grew 10 per cent, amounting to Rs.2.12 lakh crore at the end of September 2010.

The bank reported a net profit of Rs.237 crore during the second quarter, an increase of 35 per cent over the previous year.

Milestone of India - PSU Indian Overseas Bank net up.

CHENNAI: Indian Overseas Bank has registered a net profit of Rs. 206.15 crore for the second quarter ended September 30, 2010 against Rs. 176.04 crore in the same period in 2009-10 despite higher provision and contingencies of Rs. 305.13 crore against Rs. 122.04 crore.

Total income has increased to Rs. 3,074.73 crore from Rs. 2,922.34 crore. Interest income accounted for Rs. 2,800.19 crore against Rs. 2,549.95 crore.

Non-interest income was lower at Rs. 274.54 crore against Rs. 372.39 crore. Income from treasury operations was Rs. 811.19 crore against Rs. 795.44 crore, corporate and whole sale banking Rs. 1,567.17 crore (Rs. 1,300.71 crore), retail banking Rs. 584 crore (Rs. 745.14 crore) and other banking operations Rs. 111.46 crore (Rs. 80.31 crore).

Net interest income has increased to Rs. 956.30 crore from Rs. 784.62 crore and net interest margin has improved to 3.02 per cent from 2.73 per cent. Earnings per share improved to Rs. 15.14 (annualised) from Rs. 12.93.

Total business has crossed the Rs. 2 lakh crore mark to Rs. 2,06,214 crore from Rs. 1,87,853 crore.

Deposits have risen to Rs. 1,18,142 crore from Rs. 1,09,435 crore and advances to Rs. 88,072 crore from Rs. 78,418 crore.

Milestone of India - Milestone in Indo - China ties.


HANOI: India and China on Friday expressed their determination to carry their relations forward through dialogue, with Prime Minister Manmohan Singh and Chinese Premier Wen Jiabao instructing their officials to “work their way through” all difficult issues.

The two leaders met for 45 minutes on the sidelines of the Association of Southeast Asian Nations (Asean) summit here.

Mr. Wen said he would visit India before year-end. He suggested that both sides reach consensus on some major aspects to lay the foundation for the visit.

The leaders instructed their Special Representatives to address the border issue with a “sense of urgency,” with Dr. Singh highlighting the need for both sides to be sensitive to each other's core issues. The Special Representatives were asked to meet in Beijing before next month-end and given clear directions on how the two leaders wanted them to resolve all difficult issues, National Security Advisor Shiv Shankar Menon told journalists.

Both leaders covered the entire gamut of relations, including the issue of China issuing stapled visas to people domiciled in Jammu and Kashmir and the consequent pause in high-level defence exchanges. “In their 10th meeting in six years, they took a broad view of the strategic significance of India-China ties and expressed satisfaction at the development of relations,” Mr. Menon said.

Mr. Wen agreed with Dr. Singh's oft-repeated statement that there was enough space in the world to accommodate the growth of both countries. There was enough space for India and China to have a cooperative relationship in “all areas.”

Mr. Menon said that prior to Mr. Wen's arrival in December, India was looking forward to the opportunity provided by the visit on Sunday of Zhou Yong Kan, Member of the Politburo Standing Committee of the Communist Party of China, to “have a much freer and broader exchange of views.”

Trade imbalance

Mr. Wen said China was “very conscious” of the trade imbalance with India and listed some of the steps taken by Beijing to address this issue. Mr. Menon pointed to regular high-level meetings on the issue and the resultant diminishing of the imbalance. “We will continue to work on it.” Bilateral trade in the first nine months of the year touched $45 billion and was on course to meet the target of $60 billion for the year.

Asked to spell out the core issues that Dr. Singh wanted both countries to be sensitive to, Mr. Menon declined to “put a gloss” on what the Prime Minister specifically said. The Prime Ministers resolved to continue working together on a range of issues, including climate change, counter-terrorism, disaster management, energy and food security on which both had “similar or identical views.”

Milestone of India - PSU Bank of Baroda net up.

CHENNAI: Bank of Baroda (BoB) on Thursday reported a 60.7 per cent jump in its net profit at Rs.1,019.30 crore in the second quarter ended September 30, 2010 against Rs.634.18 crore in the corresponding quarter in the previous year.

The bank achieved an increase of 23.5 per cent in total income at Rs.5,839.96 crore against Rs.4,730.75 crore in the year-ago period. Interest income has improved by 24.7 per cent to Rs. 5,158.66 crore from Rs. 4,135.42 crore.

During the six months ended September 30, 2010, the bank registered a 38 per cent rise in net profit at Rs. 1,878.46 crore against Rs.1,319.56 crore in the same period a year ago.

Total income was higher by 18.2 per cent at Rs.11,184.16 crore against Rs.9,465.90 crore. On a year-on-year basis, total (Global) business increased by 29.9 per cent to Rs. 4,62,619 crore in the six months under reference from Rs. 3,56,274 crore as on September 30, 2009. Total deposits increased by 30.1 per cent to Rs. 2,69,660 crore from Rs. 2,07,355 crore.

Milestone of India - PSU Punjab National Bank net up.

NEW DELHI: Driven by higher net interest income, Punjab National Bank on Thursday announced a 15.9 per cent rise in net profit at Rs.1,075 crore for the quarter ended September 30 against Rs.927 crore in the same quarter of the previous fiscal.

Net interest margin (NIM) crossed 4 per cent to 4.06 per cent during the second quarter. The rise in profit was on account of strong growth in advances leading to a sharp rise in net interest income (NII), bank Chairman and Managing Director K. R. Kamath told reporters here.

Net interest income during the quarter improved by 49.4 per cent to Rs.2,977 crore from Rs.1,992 crore in the same quarter in the same period a year ago.

Advances grew by 27.6 per cent to Rs.2,08,764 crore by the end of September 30, 2010.

The bank's total income rose by 18.1 per cent to Rs.7,174 crore during the quarter.

On deposit rate hike, he said there was a pressure on deposits but the bank was not going to raise the rates immediately. The bank increased deposit rates twice in the last three months.

Milestone of India - PSU ONGC reports rise in profit.

NEW DELHI: Oil and Natural Gas Corporation (ONGC) on Thursday reported a 6 per cent rise in its net profit at Rs.5,388.77 crore in the quarter ended September 30 against Rs.5,089.64 crore in the same quarter in the previous year despite higher under recovery discount.

Giving this information here, ONGC Chairman and Managing Director R. S. Sharma said sales rose to Rs.18,238.98 crore during the quarter under review from Rs.15,134.04 crore a year ago.
ONGC said it paid Rs.3,019 crore towards fuel subsidy in the quarter under review, as against Rs.2,630 crore in the second quarter of last fiscal.

The company's net realisation on crude sales was $62.75 a barrel after giving refiners IOC, BPCL and HPCL a discount to make up for one-third of their loss on sale of fuel below cost. Its net realisation in the second quarter of last year was $56.41 a barrel.

ONGC's gross realisation (pre-subsidy discount) was $79.21 a barrel as agaisnt $70.50 a barrel in the year ago period.

Mr. Sharma said the company would be ready for the stake sale by the last quarter of the current financial year. “We have appointed global consultants for third-party certification of ONGC's reserves,'' he said.

DeGolyer & MacNaughton (D&M) and Gaffney, Cline & Associates (GCA) are the two auditors appointed for the purpose.

The government plans to sell 5 per cent of its shares in the company in March 2011. “We are ready for the follow-on-public (FPO) offer but not before the first quarter of the 2011 calendar year,'' he remarked.

Mr. Sharma said the company had not put any pre-condition for approving Cairn Energy selling stake in Indian unit to Vedanta Resources. “We have not put any pre-condition. No two issues have been attached to this,'' he told reporters.

“These issues are not related,'' Mr. Sharma said, referring to royalty payment and the pre-emption right. He said the company paid Rs.319 crore royalty in excess of its share of crude oil produce during the July-September quarter. The royalty-liability makes the Rajasthan project a losing preposition for ONGC.

Milestone of India - Milestone in Indo - Malaysia ties.


KUALA LUMPUR: India and Malaysia on Wednesday signed six pacts, with the accord for implementing the Comprehensive Economic Cooperation Agreement (CECA) from July 1, 2011 being the centrepiece.

The agreements were signed at a ceremony presided over by Prime Minister Manmohan Singh and his Malaysian counterpart Md. Najib.

“I am confident that this agreement will transform our economic engagement in a substantive way,” observed Dr. Singh.

Comparing the CECA with the India-Asean Trade in Goods (TiG) agreement that was implemented from January 1, 2010, both the sides offer “Asean plus' market access in goods.

In Trade in Services, both the sides agreed on providing access to each others' services market across all modes and various sectors.

India and Malaysia would liberalise their respective investment regimes to facilitate greater Foreign Direct Investment into each other's territory.

Both sides would also finalise two-three other areas of economic cooperation from among infrastructure development, creative industries, tourism, small and medium enterprises (SMEs), business facilitation, science and technology, and human resource development, said official sources

The Memorandum of Understanding on cooperation in the traditional systems of medicine makes India the second country with which Malaysia has inked such a pact.

Due to the large presence of people of Indian and Chinese origin, Malaysia has a wide canvas of traditional systems of medicine, including the Malay herbal medicine.

The MoU will guide the existing rudimentary cooperation in a more focused manner and also streamline the existing practices in traditional systems of medicine to higher levels of acceptance by people of the two countries.

The MoU for cooperation in tourism would encourage the growing flow of visitors to both the countries.

India is the sixth largest source country for inbound tourism to Malaysia ( six lakhs in 2009) while Malaysia is the 10th largest (1.15 lakhs in 2008).

The MoU for cooperation in IT & Services would reflect the contemporary changes taking place in the field of IT and Services.

Separately, the two Prime Ministers announced the setting up of a Joint ICT Talent Development Consultative Committee to make specific recommendations to both the governments for IT skills training, talent development and greater engagement of the Indian IT companies in Malaysia.

Already, 60 Indian IT companies are present, including some from the top 10.

An agreement between the Council of Scientific and Industrial Research (CSIR) and the UNIK of Malaysia on Research and Development Collaboration will witness the setting up of a Joint Innovation Accelerator Centre in Malaysia to carry out research in green technology, water treatment and medicinal and aromatic plants.

Milestone of India - Milestone in Indo - China ties.



BEIJING: On Monday, the People’s Republic of China got its first ashram.

Located a two-hour drive away from here and nestled amid the industrial suburbs of this fast-expanding metropolis, the 165-acre retreat for yoga and meditation was opened by Sri Sri Ravishankar’s Art of Living foundation. Billing itself as the first authentic Indian retreat in a country where spirituality is on the rise, the ashram will offer a range of courses.

“There is a yearning for spiritual thought in today’s China, and this centre will provide people [with] a path to have cleaner, calmer and happier lives,” Sri Sri Ravishankar told The Hindu.

This is his first visit to China. On Monday, he interacted with religious leaders as well as officials of the Communist Party, who had given sanction for the project. The centre will accommodate 160 students at a time. The teachers, who are from all over China, had undergone training in India.

On Sunday, the centre held a ceremony with dance performances and lectures. It was attended by around 500 people. The organisers said they could have received a greater audience “of more than 3,000,” but doing so would have required a special permission from the local authorities.

Interaction

Most of the questions from the Chinese audience in an interaction with Sri Sri Ravishankar on Sunday revolved round how people could deal with the stress of modern life and preserving family values in a society that is being increasingly influenced by Western ideas.

Among those who attended was Man Hu, a middle-aged entrepreneur from Shanghai, who runs a manufacturing plant. “Like everyone else in today’s China, I am under great stress and looking for a way to manage by life in a better way and find some purpose,” she said.

Those connected with the project said they were surprised by the positive response from the authorities, who are usually careful about allowing foreign institutions, particularly those with spiritual leanings, to spread their word in China.

On Monday, Sri Sri Ravishankar met with Chen Haosu, a former vice-minister in the Propaganda Department and the president of the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), which invited him to China. “India and China are naturally close, in culture, family values, music and dance,” he told Mr. Chen. “The East has a lot to offer to the world to counter the stress and ills of society that the West is facing.”

“Great expectations”

Mr. Chen said he had “great expectations” of the visit. “We hope this will bring happiness to people. Chinese people have an enthusiasm and passion for Indian culture. In the past 30 years, we have seen fast development of the Chinese economy. Now, people will also require more spiritual activities.”

Sri Sri Ravishankar said the centre would look to engage with the Chinese civil society, and even involve itself, as it has in the United States, Canada and Germany where it has centres, in environmental campaigns such as tree-planting drives. It is also in talks with the local police here to involve itself in a drug rehabilitation programme.

As Sri Sri Ravishankar left Monday’s meeting with Chinese officials, he was surprised by a gift he did not quite expect, and one that was at odds with the message of peace he was looking to bring to China — a bamboo panel with engravings from Sun Tzu’s Art of War.

Milestone of India - india's Exports at new high.

NEW DELHI: Reaching a two-year high, exports registered a jump of 23.2 per cent at $18.02 billion in September compared to the same month last year, while the massive rise in imports raised concerns over widening of the trade gap.

Asserting that India was on track to surpass the $200-billion exports target, Union Commerce and Industry Minister Anand Sharma said on Monday that during the April-September period of this fiscal, exports aggregated $103.30 billion, a 27.6 per cent increase compared to last year.
Releasing the trade figures to newsmen here, Commerce Secretary Rahul Khullar said the growth could be partly attributed to the low base in the previous year and increasing prices. “This is the first month in which, in the last two years, exports are higher than 2008-09 and 2009-10.''

However, imports outstripped exports growing by 26.1 per cent to $27.14 billion in September compared to the same month in the previous year. Cumulative imports in April-September, 2010, were $166.5 billion, translating into a massive trade gap of $63.2 billion during the six-month period. “We still need to be concerned over the balance of trade deficit,'' Mr. Khullar said.
Crude oil, gems and jewellery and edible oil constitute the major part of the country's import bill. In the first six months, imports of petroleum and related items went up by 54 per cent, gems and jewellery by 21 per cent and engineering items by 41 per cent.

The trade deficit in September alone stood at $9.12 billion, Mr. Khullar said. However, this was lower than the $13-billion deficit in August.

Except for iron ore, electronic items, man-made fibre and handicrafts, exports from other sectors, including gems and jewellery, engineering goods and apparels, witnessed growth.

The Federation of Indian Export Organisations (FIEO) expressed concern over the strengthening rupee against the U.S. dollar and said the Reserve Bank of India should intervene to check the volatility. The rupee had appreciated by about 5 per cent against the dollar since January. Mr. Khullar too said the exchange rate would not affect export contracts that had already been entered into with buyers, but might impact future contracts. The sectors that performed well in the April-September period in exports include plastics (34 per cent growth), gems and jewellery (21 per cent), engineering goods (41 per cent), iron-ore (60 per cent), spices (35 per cent), drugs (12 per cent) and chemicals (26 per cent). “In most sectors, we are seeing rebound. Even in areas like textiles,'' he said.

Milestone of India - Girija Pandey, Kanchana donate crores to Lord Balaji at Tirumala.

TIRUPATI: Girija Pandey and Vasundara alias Kanchana, a leading film actress of yesteryear, donated their property in Chennai worth Rs. 15 crore to Tirumala Tirupati Devasthanams (TTD) on Monday.

Accompanied by their family members, they handed over the registered documents of the land and building to the Executive Officer of the TTD I. Y. R. Krishna Rao at his official residence here.

According to a TTD release, the property is located on G. N. Chetty Street, a prime commercial area in Chennai. The actors have requested the TTD to construct Kalyana Mandapam or community hall on the site. N. Yuvaraj, Joint Executive Officer, and Seshaiah, Estate Officer, TTD, were present at the brief ceremony.
OM NAMO VENKATESAYA !

Milestone of India - Milestone in Indo - Japan ties.


TOKYO: India and Japan on Monday decided to extend their cooperation to areas such as joint ventures in rare earth minerals, some hitherto unexplored areas in defence, and transport and industrial corridors in south India.

These will build on a recently finalised economic pact, more intimate security ties, two mega infrastructure projects in north-western India and ongoing talks on a nuclear agreement.

Prime Minister Manmohan Singh and his Japanese counterpart Naoto Kan, during restricted and delegation-level talks, resolved to continue the talks on a civil nuclear agreement. They instructed officials to ensure the smooth implementation of the Comprehensive Economic Partnership Agreement (CEPA) and accelerate discussions on the reform of the United Nations Security Council (UNSC), to which both countries are aspirants as permanent members.

“In the discussions, the point consistently emphasised was that both India and Japan believe they need to develop a strong, vigorous and an all-encompassing relationship in political, economic and security spheres,” Foreign Secretary Nirupama Rao told newspersons after the meeting. She termed the economic pact an alliance between Japanese technology and capital and a young Indian labour force.

Dr. Singh and Mr. Naoto Kan also discussed China.

Ms. Rao said: “Both discussed the need for open and transparent dialogue with China… they agreed that engaging China in more productive dialogue and developing structures of cooperation is the way forward. It requires deep analysis, close engagement and lots of patience… the reality is that both will have to develop in-depth ties with China.”

Both India and Japan would move towards long-term cooperation — including the implementation of joint ventures in rare earth minerals — and denied that this was directed against a third country (China recently halted the export of rare earth minerals to Japan).

On civil nuclear cooperation, India and Japan will hold the third round of talks here in November third week. While Japan is keen on some sort of Indian political commitment on moving closer to the Comprehensive Test Ban Treaty regime, India has pointed out that its civil nuclear agreement with Japan cannot be materially different from the agreements signed with other countries.

They also touched on trade in high technology, with Dr. Singh hoping that Japan will make its norms in this area “easier and predictable.” India appreciated Japan's paring down of the list of Indian companies on the export control list early this year.

The two countries signed a Memorandum of Understanding on simplifying visa procedures that would supplement the CEPA by catering for India's areas of strength in pharmaceuticals, healthcare personnel and information technology.

Dr. Singh earlier had an audience with the Emperor of Japan and Foreign Minister Seiji Maehara.

Milestone of India - Milestone in Indo - Bangladesh ties.


NEW DELHI: India has decided to export 5 lakh tonnes of rice and wheat to Bangladesh despite ban on outward shipments of the foodgrains. Both nations have also agreed to establish ‘Border Haats' along the Meghalaya-Bangladesh border and open the Chittagong and Mongla ports to boost trade ties.
The two countries have signed $1 billion Line of Credit agreement and some important pacts for power transmission, Union Commerce and Industry Ministry Anand Sharma told journalists after meeting his Bangladeshi counterpart Muhammad Faruk Khan here on Saturday.

“Apart from the Line of Credit, the bulk power transmission agreement and an MoU between NTPC and the Bangladesh Power Development Board have also been signed in the power sector,” he said, and pointed out that after Bangladesh Prime Minister Sheikh Hasina's successful visit to India, both countries had been actively engaged in implementing the joint communiqué that reflected the understanding reached between the prime ministers of the two countries.

Mr. Sharma said the two-way trade had the potential to touch $5 billion in the next two years from the current $3 billion. He also announced that arrangements for supply of 3-lakh tonnes of par-boiled rice and 2-lakh tonnes of wheat from India to Bangladesh were being put in place and that the supply would take place soon.

Out of the quota of duty free export of 80-lakh pieces of textiles from Bangladesh to India, around 17-lakh pieces could be exported for the last quarter ending December 2010. A fresh quota of 80-lakh pieces of textiles would be available from January 2011, he added.

The Minister further said both sides had recently visited several land customs stations to review the state of infrastructure. India was now constructing seven integrated check posts and eight land custom stations under a $125-million scheme. The two sides were also in discussion to construct the bridge across Feni to begin trade between Sabroom and Ramgarh, he said.

Milestone of India - Religious, political leaders meet the Archbishop of Canterbur.


THIRUVANANTHAPURAM: The Archbishop of Canterbury, Rowan Douglas Williams, and wife, Jane Williams, had a hectic day in Thiruvananthapuram on Saturday.

The Archbishop's engagements got under way with a dialogue with religious and political leaders in the morning. The religious leaders who met him included the bishops of other churches such as Susaipakiam, Samuel Mar Irenius, Gabriel Mar Gregorios, Vasantha Kumar and Thomas Mar Anthonios. The political leaders who met him included Education Minister M.A. Baby, Public Works Minister M. Vijayakumar, Ports Minister V. Surendran Pillai, and Congress leader V.S. Sivakumar. Swami Jnana Tapaswini of the Shantigiri Ashram, Palayam Imam Moulavi Jamaluddin Mankada, jurist K. Narayana Kurup, M.M. Philip, general secretary, and Bennet Avraham, treasurer of the Church of South India Synod, A. Dharmaraj Rasalam, vice-chairman of the CSI's South Kerala diocese and Col. Jaipaul Devapally of the Salvation Army were among the others who held discussion with him.

The Archbishop had a meeting with the ecumenical youth of the Kerala United Theological Seminary, Kannamoola, and with women in the LMS Compound thereafter.

The highlight of the Archbishop's programmes was a visit to the St. Joseph's cathedral at Palayam. The visit by the head of the Church of England to a church of the Catholic Church was described as a historic event by Church circles here.

The programmes of the day ended with his participation in the graduation ceremony of the Dr. Somervell Memorial CSI Medical College at Karakonam in the district.

He will grace the golden jubilee celebrations of the CSI South Kerala diocese being inaugurated by Uthradam Tirunal Marthanda Varma, head of the royal family of erstwhile Travancore, on Sunday evening.

It will be followed by a cultural programme. Prior to that, he will be participating in a thanks-giving service at the Mateer Memorial church here.

Milestone of India - Tamil Nadu Newsprint net up.

CHENNAI: Tamil Nadu Newsprint and Papers has reported a total revenue of Rs. 579.60 crore for the half year ended September 30, 2010 against Rs. 439.93 crore in the same period in the previous year. The profit after tax has spurted to Rs. 82.99 crore from Rs. 36.80 crore.

Milestone of India - PSU Vijaya Bank posts higher profit.

BANGALORE: Vijaya Bank has posted a net profit of Rs.144.30 crore in the second quarter ended September 30, 2010, an increase of 33.08 per cent over the previous year. The growth in operating profit was at 26.46 per cent. Chairman and Managing Director Albert Tauro said the 34 per cent increase in net interest income resulted in the net interest margin improving to 3.16 per cent from 2.39 per cent a year ago. The bank's aggregate business was at Rs.1,02,473 crore at the end of the quarter.

Milestone of India - PSU State Bank of Mysore net profit up.

BANGALORE: State Bank of Mysore has posted a net profit of Rs.204.75 crore in the first-half of 2010-11, registering a year-on-year growth of over 13 per cent.

The bank made an operating profit of Rs.552.90 crore, an increase of 46 per cent over the previous year.

Interest income increased by 13 per cent to Rs.1,961 crore during the six-month period. In a statement, Dilip Mavinkurve, Managing Director, SBM, said the growth in operating profit “has been largely contributed by net interest income, which witnessed a growth of over 52 per cent.”
The ratio of gross non-performing assets to all assets was 3.12 per cent at the end of September. The net NPA ratio was 1.47 per cent.

Milestone of India - PSU Indian Bank net profit moves up.

CHENNAI: Indian Bank has reported a rise of 11.8 per cent in its net profit at Rs. 415.77 crore in the second quarter ended September 30, 2010, against Rs. 371.99 crore in the year-ago period. Total income increased by 17.7 per cent to Rs. 2,559.28 crore from Rs. 2,174.38 crore with net interest income rising by 37.75 per cent to Rs. 983 crore from Rs. 714 crore.

Addressing presspersons here after releasing the results, T. M. Bhasin, Chairman and Managing Director of the bank said corporate and retail banking contributed significantly to the revenue and profitability of the bank during the quarter under reference. The net interest margin (NIM) registered a sequential growth of 3.76 per cent in the second quarter against 3.71 per cent in the first quarter of the current financial year. With efforts in the recovery of non-performing loans and the effective utilisation of SARFAESI Act (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) (SARFAESI), the net non-performing assets ratio to net advances declined to 0.73 per cent in the second quarter from 0.76 per cent in the previous quarter, Mr. Bhasin said.

The provision coverage ratio was 83.27 per cent against the Reserve Bank of India's stipulated norm of 70 per cent, he said.

Total business stood at Rs. 167,980 crore as on September 30, 2010 against Rs. 133,987 crore in September 2009 showing a year-on-year growth of 25.4 per cent. Deposits registered a rise of 22.4 per cent at Rs. 98,007 crore against Rs. 80,068 crore while advances grew by 29.8 per cent to Rs. 69,973 crore from Rs. 53,919 crore as on September 30, 2009.

Under Financial Inclusion plan 2010-12, the bank had covered 20 villages with population above 2000 providing banking services. The bank had opened 23.93 lakh “no-frills” accounts throughout the country. Also two Microsate branches (specialised microfinance branch) were opened during the current year in Tamil Nadu to promote urban financial inclusion, Mr. Bhasin said.

During the current year the bank had disbursed Rs. 773.55 crore to 39,523 self-help groups (SHG) upto September 30, 2010 and the outstanding credit under micro finance to SHGs stood at Rs. 2,046.99 crore.

Milestone of India - State Bank of Travancore net up.

THIRUVANANTHAPURAM: State Bank of Travancore (SBT) has posted a net profit of Rs.163.60 crore for the quarter ended September 30, 2010, against Rs.122.49 crore during the corresponding period in the previous year, a growth of 33.55 per cent. The operating profit has improved by 37.71 per cent to Rs.261.67 crore.

Announcing the quarterly results of the bank, Managing Director P. Pradeep Kumar stated that the increase in operating profit was driven by increase in net interest income by 32 per cent to Rs.415 crore from Rs.313 crore.

The net profit for the first half year stood at Rs.313 crore compared to Rs.302 in the first half of the previous year. The bank had declared an interim dividend of Rs.8 per share earlier this month.

Gross business turnover increased by Rs.14,121 crore (17.55 per cent) year-on-year and touched Rs.94,580 crore.

Milestone of India - Chamundeshwari Shrine Rathothsava draws large crowdsat Mysore. (Karnataka)

MYSORE: After Dasara, it was ‘rathothsava' (chariot festival) atop the Chamundi Hills which had devotees making a beeline for the Chamundeshwari shrine on Thursday.

The annual festival dedicated to the goddess Chamundeshwari is held a few days after Navaratri celebrations, and people congregated in large numbers atop the hills to participate in the festivities.

Srikantadatta Narasimharaja Wadiyar performed rituals under the supervision of ‘archakas' to commence the rathothsava. People had occupied vantage points to catch a glimpse of the unfolding event.

With each passing year, the event is gaining popularity. However, the increase in the number of people visiting Chamundi Hills has caused concern for environmentalists. There are apprehensions that not much is being done to protect the fragile ecosystem of the hills which is witnessing unbridled urbanisation.

Milestone of India - Golden crown for Lord Venkateswara.


TIRUPATI: Lord Venkateswara, the presiding deity at the Tirumala temple has reaped a rich gold harvest on Thursday in the form of two precious donations.

Reckoned as the richest deity in the world next to the Vatican Church, the Lord of the Seven Hills received a fabulous donation of a dazzling golden crown weighing 14.5 kg.

The exquisitely chiselled stone-studded tiara was offered to the deity by a Mumbai-based business tycoon, who however preferred to remain anonymous.

He handed over the crown to temple priests in the presence of Sri Jayendra Saraswathi, the chief pontiff of Sri Kanchikamakoti Peetham. On behalf of the TTD, its Tirumala-based Joint Executive Officer K. Bhaskar received the crown which is expected to adorn the main deity on Friday after the conventional Abhishekam.

As yet another bonanza, the Lord also received a pair of gleaming golden ‘Nagabharanams'— a serpent-shaped ornament which would adorn the deity's biceps.

This ornament is also expected to adorn the deity on Friday after the celestial bath.

The intricately made jewellery weighing 4.03 kg. and worth about Rs. 72 lakh was donated by Chairman of the Apollo Hospitals Dr. Pratap C. Reddy.

The offering was made in fulfilment of a vow.
MAY THE BLESSING OF LORD BALAJI WITH HIS CONSORTS SREE DEVI AND BHOO DEVI
REACHES THE WHOLE UNIVERSE.

Milestone of India - Milestone in Indo - Korea ties.

NEW DELHI: A reciprocal social security agreement (SSA) and protocol that will benefit a huge number of Indians — particularly those working in the fields of Information Technology, medicine and finance — was signed in Seoul on Tuesday.

Overseas Indian Affairs Minister Vayalar Ravi and Korean Minister for Trade Kim Jong-hoon signed the pact.

An official release said a number of Indians were working in Korea, most of them professionals and self-employed persons.

There was huge potential for the employment of Indians in Korea owing to a large gap in market labour supply.

An SSA with Korea would enhance the movement of professionals, and strengthen the trade and investment, between the two countries.

Negotiations between India and Korea were held in New Delhi from December 8-10, 2009.

Milestone of India - Canara Bank net up.

BANGALORE: Canara Bank on Wednesday reported a net profit of Rs.1,008 crore in the second quarter ended September 30, 2010, an increase of 10.7 per cent over the same quarter in the previous year.

Announcing the results here, Canara Bank Chairman and Managing Director S. Raman said the bank had registered a 53 per cent growth in net income despite ‘muted treasury gains' during the quarter.

He said the bank had for the first time registered a net profit of more than Rs.1,000 crore in two successive quarters. Net interest margin was 3.16 per cent during the quarter.

While gross non-performing assets accounted for 1.49 per cent of all assets during the quarter, the net NPA ratio was 1.06 per cent.

During the quarter, the bank had brought all its branches under the core banking solution network. “This will enable us to improve efficiencies further,” Mr. Raman said.

Total volume of business amounted to Rs.4.25 lakh crore during the quarter. He said the bank was targeting a total business of Rs.5 lakh crore by the end of the financial year.

Mr. Raman said there were two main reasons for the increase in interest income. First, the bank had replaced Rs.11,000-12,000 crore of short-term lending with longer-term assets that yielded better results. Second, the bank had reduced its dependence on bulk deposits by Rs.10,000-15,000 crore during the quarter.

Milestone of India - State Bank of Bikaner and Jaipur puts up better performance.

JAIPUR: The latest half-yearly results show an increase of 37 per cent in the net interest income of the State Bank of Bikaner and Jaipur (SBBJ) to Rs.800.59 crore from that in the corresponding period in the previous year. The operating profit went up by 17 per cent for the half-year ended September 30 to Rs. 487.74 crore from Rs. 418.30 crore, recorded last year. However, the net profit slid to a slightly lower position at Rs. 230.66 crore as against Rs. 237.43 crore the previous year. The decline is attributed to escalation in staff expenses and increased provisions.

The Board of Directors of the Bank which met here also granted in-principle approval for a rights issue to raise Rs. 800 crore to augment Tier I capital. The issue is expected to be completed in the current financial year.

The bank's total business as on September 30 was Rs. 85,655 crore. Out of this, deposits accounted for Rs. 48,948 crore and advances Rs.36,707 crore. Income from cross-selling increased to Rs.10.67 crore during the half-year from Rs.6.92 crore achieved during the corresponding period last year.

At the end of September 2010, the capital adequacy ratio of the bank stood at 12.29 per cent (as per Basel II) norms, against the RBI benchmark of 9 per cent. The year 2010-11 has been declared by the bank as the ‘Year for Regaining Market Share.' The bank has identified 50 centres for opening new branches.

Base rate unchanged

SBBJ has kept its base rate unchanged at 7.75 per cent while reviewing it for the current quarter to maintain “competitive interest rates on loans and advances”. To mobilise retail deposits the bank has introduced two new deposits products, “SBBJ Khushi” and “SBBJ Anand,” wherein deposits for 555 days and 1000 days have been offered to retail customers during the festive season.

Milestone of India - State Bank of Mysore net up.

BANGALORE: State Bank of Mysore has posted a net profit of Rs.204.75 crore in the first-half of 2010-11, registering a year-on-year growth of over 13 per cent. The bank made an operating profit of Rs.552.90 crore, an increase of 46 per cent over the previous year. Interest income increased by 13 per cent to Rs.1,961 crore. — Special Correspondent.

Milestone of India - SBH profit raises 35% in first half.

HYDERABAD: State Bank of Hyderabad (SBH) has registered s 35 per cent increase in net profit during the first-half of 2010-11. Announcing results here on Tuesday, Renu Challu, Managing Director said that indicators such as 47 per cent growth in operating profit, 70 per cent jump in net interest income and decline in the cost of deposits from 6.19 per cent to 5.71 per cent underscored consistency and sustainability in the bank's performance. The bank achieved an operating profit of Rs. 938.61 crore and net profit of Rs. 465.72 crore during the first-half. — Special Correspondent

Milestone of India - Milestone in Hindu - Muslim Unity. (YAMANUR - Karnataka)


YAMANUR (Dharwad District): On every Thursday and on ‘Amavasya' (New Moon Day), Abdul Rasool gets busy selling flowers, incense sticks, coconuts and sugar to the devotees who throng Yamanur village in Navalgund taluk of Dharwad district.

There is nothing unusual in what he does, but what stands out is that the devotees are a mixed bag of people — Hindus, Muslims, Christians and Sikhs.

Yamanur, a tiny village located off Hubli-Solapur highway, has a steady stream of visitors belonging to all faiths from far off places because of the presence of a ‘temple-cum-dargah'.

For Hindus it is the temple of ‘Changdev Maharaj' and for Muslims it is the dargah of ‘Raja Bagsawar'.

Two pujas are performed for Changdev Maharaj every day — in the morning and in the evening. While members of the Barge family conduct the puja, one member of the Makandar family (a Muslim family) attends them. And when Muslim devotees visit the dargah, the mullah, Mehboobsab Makandar, offers ‘Fatiha' (prayer) for them.

While Hindus believe that ‘Ugra Narasimha Saligrama' is beneath the tomb and Changdev Maharaj was a man of miracles, Muslims believe in the powers of Raja Bagsawar.

The legend is that Changdev Maharaj was a saint who lived in the 12th century and had the power to solve problems of his devotees. Subsequently, a temple (‘gadduge') was built in his name. But when Muslim invaders attacked, the family looking after the temple, in a bid to save the shrine, kept ‘panjas' (usually kept in dargahs) near the tomb. On seeing the panjas, the invaders did not harm the temple, and subsequently Muslims too started offering prayers there.

According to another legend, Changdev Maharaj used to ride a tiger and so the name Raja Bagsawar (king who rides a tiger) came to be associated with him, said 72-year-old Pandurang Barge, whose family is among the 12 families that maintains the temple.

The Makandar family does not have much information as to how both Muslims and Hindus started worshipping at the same place. Rajesab, elder brother of Mehboobsab Makandar, told The Hindu that more people offer prayers to Raja Bagsawar than to Changdev Maharaj. Devotees from Andhra Pradesh and Maharashtra too visit the shrine, he said.

While the devout believe that the deity can solve their problems, there is another belief that a bath in the Benni Halla (stream) will cure skin diseases.

Every year after Holi festival, both Hindus and Muslims join hands to celebrate a fair (urs) of Changdev Maharaj/Raja Bagsawar which attracts a large number of people.

Milestone of India - Devotees bid farewell to Durga.





NEW DELHI: On the last day of Durga Puja, the Bengali community in the Capital bade farewell to the Goddess amid festive fervour as idols of the deity were immersed in the Yamuna.

“We began [the procession] around 2-30 p.m. with shehnai and band players following the M urti, which was taken to the Yamuna on a bullock cart,” said Delhi Durga Puja Samiti (Kashmere Gate) chairman Arun Ghoshal. He said the procession, which travelled on foot, began earlier in the day to avoid the usual rush at the river banks.

Huge idols of the deity were immersed in the Yamuna at various river banks in different parts of the city, including Kalindi Kunj, Wazirabad, Okhla Barrage and Geeta Ghat.

Though Delhi Police personnel were deployed across the city, many associations like Delhi Durga Puja Samiti and Antaranga Puja Association Mayur Vihar arranged for their own security to follow the puja processions.

Though puja celebrations were a comparatively low- key affair in the city this year because of the just concluded Commonwealth Games, the spirit of the festival remained intact. “You feel happy because you are bidding farewell to Maa Durga, but at the same time feel sad because you have to wait another year for the puja,” said Vasant Vihar resident Prasoon Dutta.

Some people rued that puja festivities were no longer about tradition only. “Celebrations have become more commercial over the years. Though it is the best time of the year for an expatriate Bengali like me, the charm of the festival is not the same as it was about a decade ago,” said Gurgaon resident Anvesha Chatterjee.

Most associations also took care to use only “natural materials” and biodegradable substances to adorn the idol to prevent polluting the river.

Traffic jams were reported in many areas including Kalindi Kunj, Wazirpur and Chittaranjan Park because of immersion processions. Traffic movement between Wazirabad and Rajghat was also affected because of puja celebrations.

Milestone of India - Rustom 1 test-flown successfully.


BANGALORE: Rustom 1, a medium-altitude and long-endurance Unmanned Aerial Vehicle (UAV), developed by the Bangalore-based Aeronautical Development Establishment (ADE), was successfully test-flown here on Saturday.

According to an official statement, Rustom 1 was flown from the Taneja Aerospace and Aviation airfield at Hosur near here. “The aircraft took off even in inclement weather conditions for a first flight, flew for 12 minutes and landed successfully, meeting all its objectives.”

A Defence Research Development Organisation (DRDO) spokesperson told The Hindu on Sunday that Rustom 1 followed the two other UAVs developed by the ADE — Lakshya and Nishant. While Lakshya — a drone that is remotely piloted by a ground control station — provides aerial sub-targets for live-fire training, Nishant is a surveillance aircraft primarily tasked with intelligence gathering over enemy territory.

“Unlike the other UAVs, which used to have a free fall with parachutes after executing their tasks, Rustom will carry out copybook style landing,” the spokesperson said.

“In the coming days Rustom can be used as unmanned combat aerial vehicle and also to carry war-heads,” the spokesperson said.

The first full flight of Rustom 1 on Saturday was under the command of Lt. Col. V.S. Thapa of the Army, an experienced External Pilot for UAVs, who was positioned at the edge of the runway. “He controlled it without any difficulty throughout its flight, which included the pilot-assisted take-off flight in air and a copybook style landing,” the statement said.

The aircraft has many auto features such as GPS controlled Way Point Navigation and Get U Home included even in its first flight, but will be exercised in subsequent flights.

Features

“The UAV has an endurance of 12 to 15 hours and can carry payloads up to 75 kg. It has an altitude ceiling of 25,000 feet. Such flights of UAVs remove the risk to human pilots when they have to fly them in hazardous zones,” the statement said.

The data link system for this UAV was designed and developed by another DRDO laboratory called Defence Electronics Applications Laboratory (DEAL) situated in Dehra Dun. Its airframe is made by a private company called Zephyr situated in Coimbatore and most of its onboard systems are also manufactured by private industries in different parts of the country.

“This UAV can be used by all the three armed services of our country,” the statement added.

Milestone of India - Tata gifts to Harvard Business School.

BOSTON: India's Tata Group has given a huge $50 million to the prestigious Harvard Business School (HBS) here to fund a new academic and residential building on its campus, the largest gift received by the institute from an international donor in its 102-year-old history.

The gift comes from Tata companies, the Sir Dorabji Tata Trust and the Tata Education and Development Trust, the philanthropic entities of the group. It comes days after Anand Mahindra, Vice-Chairman and Managing Director of Mahindra and Mahindra Group, gave $10 million to the Humanities Centre at Harvard. A Harvard alumnus, Mahindra gave the gift, the “largest” in the Centre's history, in honour of his mother Indira Mahindra.

Ratan Tata, Chairman of Tata Sons, attended Harvard's Advanced Management Programme, one of three comprehensive leadership programmes offered by the Harvard Business School's (HBS') Executive Education, in 1975. He had also received the School's highest honour, the Alumni Achievement Award, in 1995.

The School said it would use the $50 million gift from the Tata Group to fund a new academic and residential building on its campus for participants in its broad portfolio of Executive Education programmes.

HBS hopes to break ground for the building, which will be named Tata Hall, next spring. It is expected to be open for use by late 2013. — PTI

Milestone of India - India launches oil, gas assets auction.

NEW DELHI: India on Friday kicked off the IX round of auctioning under the New Exploration Licensing Policy (NELP), offering 34 oil and gas blocks, including eight deep water ones, sans tax exemptions to investors.

“The New Exploration licensing Policy round IX is being launched in the background of positive economic conditions, including revision of the administered price mechanism (APM) gas price and market determination for price of petrol,'' Petroleum and Natural Gas Minister Murli Deora told reporters at the launch programme here. The 34 blocks, which include 15 re-cycled blocks, cover a sedimentary basin area of 88,807 sq. km. The deadline for making a bid for the blocks is March 18, 2011. The previous eight rounds of NELP in 235 blocks have fetched an investment of around $14 billion.

The IX round of auction comes amid indications that the government is doing away with tax incentives under the new Direct Tax Code (DTC) proposed to be implemented from April 1, 2012.

“Investors basically want clarity in NELP IX. The position is absolutely clear,'' Petroleum Secretary S. Sundareshan. The DTC, once in force, would apply to all production sharing contracts in the future including under NELP IX, he added. Till it does, the production sharing contracts will be governed by the existing income-tax laws.

Under the current Income-tax Act, companies that started crude oil production before April 1, 1997, are exempted from paying taxes on profits for seven years. Refineries, which started operations after October 1, 1980, and before March 2012, are also eligible for the same level of incentive.

However, no tax breaks are given to natural gas finds, except for the gas that is to be produced under NELP VIII blocks and the four coal bed methane (CBM) blocks. The first roadshow for NELP IX will be held in Mumbai on October 18. “The discoveries made under the NELP have resulted in in-place hydrocarbon reserve accretion of a staggering 642 million tonnes of oil and oil equivalent gas,'' Mr. Deora said.

The VIII round, which closed on October 12, 2009, attracted investment commitment of $1.34 billion for 36 blocks that received offers. Under NELP VIII, 70 areas or blocks for exploration were offered, the biggest licensing round in India. Of the 36 areas bid for, the government had awarded 33 blocks to successful bidders.

Milestone of India - Archbishop of Canterbury hails India's secularism.

NEW DELHI: “India has consistently tried to define ‘secularism' that is not hostile to multiple religious identities,” said Archbishop of Canterbury Dr. Rowan Williams here on Friday.

Commending India's continuing efforts to “put flesh on the abstractions” of both political and religious pluralism, the Archbishop said: “India's struggle to overcome this challenge is a matter of concern and importance for all caught up as often as we are in the contemporary world between renewed bids for theocracy and anxious efforts to secure the complete privatising of faith.”

The Archbishop, now on a two-week visit to India, was speaking at the Chevening Lecture on “Pluralism and the dialogue of religions” at the British Council here. He paid tribute to the secular vision of the Indian Constitution and to all those who were instrumental in articulating that vision. He cited India as an example which highlights that “the law and the State cannot just treat a population as a collection of individuals”.

“Their actual identity is already bound up with values and beliefs,'' he said.

In addressing specifically the question of religious pluralism, Dr. Williams argued against both religious relativism which reduces religious narrative and beliefs to “a basic common vision” and the idea that the world of religions is one of “mutually uncomprehending systems”.

Addressing the media earlier, the Archbishop said he had raised the issue of granting Scheduled Castes status to the Dalit Christians during his meeting with the Indian leaders.

“There are concerns. Many of them (Christians) are Dalits or Adivasis and do not have Scheduled Caste status. I have raised the issue with the leaders,'' he said.

Earlier in the day, the Archbishop led a commemorative service at the Indian Society for Promoting Christian Knowledge at the Cathedral Church of Redemption in North Avenue to mark 300 years of service to the Indian community by the society.

Milestone of India - Navaratri Brahmotsavam - Thousands witness ‘Rathotsavam' at Tirumala.


TIRUMALA: Thousands of devotees participated in the Rathotsavam (car festival) on Friday -- the penultimate day of the nine-day annual Navaratri Brahmotsavams of Lord Venkateswara. '

The processional deities of Lord Malayappa flanked by His two divine consorts Sri Devi and Bhoo Devi mounted atop the Golden Chariot were taken along the Mada streets of the hill temple amidst religious fervour.

Festive look

The temple town wore a festive look and chanting of Govinda namam by the devotees rent the air.

The day began with the pre-dawn rituals inside the hill temple in the wee hours of today.

Soon after the weekly ‘Abhishekam' (celestial bath) to the presiding deity, the authorities organised the procession of Utsava deities to the Ratha Mandapam. '

The deities were mounted atop the Golden Chariot at the fixed sumuhurtham between 5.30 to 6.15 a.m. by the temple priests. ]

Colourful procession

The procession was preceded by dozens of bhajan and cultural troupes. '

While the Surabhi dance troupe enacted various episodes from the mythological ‘Mahisasuramardhini' play over 150 artistes from Karnataka displayed the ancient ‘Dasa' cult being practiced in the hinterlands of the country.

Later the evening was followed by the procession of ‘Aswa Vahanam'
around the shrine.
OM NAMO VENKATESAYA !

Milestone of India - Bharat Diamond Bourse to open at Mumbai.

MUMBAI: Bharat Diamond Bourse (BDB), the world's largest diamond bourse, will be inaugurated on October 17. Located in the Bandra-Kurla Complex, BDB is spread over 20 acres, with a built-up area of two million sq. ft. It will house eight towers of nine storeys' each, comprising a total of 2,500 offices. When fully operational, the bourse is expected to have an inflow of around 20,000 people daily.

The project has taken 18 years to come to fruition and BDB is being set up with the primary objective of establishing necessary infrastructural facilities for promotion of export of diamonds including diamond jewellery from India and providing all support and service facilities so as to make India an international trading centre for gems and jewellery.

Addressing the media, BDB President Anoop Mehta said, “the gem and jewellery industry is undoubtedly the fastest growing industry in the world.

The diamond industry in recent years galloped from one peak to the other primarily due to the forces of the emerging markets and the Asian economy. India is a major diamond manufacturing hub with 11 out of 12 diamonds being processed here. The Union Ministry of Commerce and the Indian diamond industry over the years have combined their efforts to streamline various initiatives that have today propelled Indian diamond trade to the next level.''

He further added, “today we are the leaders in every aspect of this trade, in terms of number of pieces manufactured, maximum carats being exported and highest volume. With the inauguration of the bourse, we will now be equipped with the best infrastructure in the world.''

Mr. Mehta said that a large part of the current diamond trading operations from Pancharatna building and its surroundings in south Mumbai would move to the new location.

“BDB will be a one-stop point for diamond buyers and traders. The shift will help us achieve 10-15 per cent average growth annually in the next five years,'' he said.

Milestone of India - The Hindu wins Color Quality Club membership.

CHENNAI: The Hindu was awarded membership of the International Newspaper Color Quality Club (INCQC) for 2010 through 2012, a prestigious award for newsprint quality globally.

The World Association of Newspapers and News Publishers announced that The Hindu is among 109 newspapers in 43 countries that have been awarded membership. The awards, held every two years since 1994, set quality standards for newspaper colour reproduction, which increases visual impact and is important to both readers and advertisers alike.

The successful newspapers have demonstrated their capacity to print to exacting ISO standards and reliably reproduce colour images and advertisements consistently, worldwide, and with the intended colour effect.

“The INCQC quality initiative helps ensure that the reader receives an attractive, high-quality product and the advertiser an outstanding advertising carrier,” said Manfred Werfel, Executive Director of Newspaper Production at WAN-IFRA, the world's leading organisation of newspaper and media publishing. “For publishing companies, the competition provides a better understanding of the ISO standards to improve the printing process.”

Compliance with the tolerances specified for newspapers in the ISO Standard 12647-3 is a guarantee of quality and the most important foundation in the INCQC competition, which is accepted worldwide and enjoys a high level of recognition.

The competition requires entrants to print a specific test element and submit examples from production runs over four months. Newspapers that reproduce the element within specific tolerances and present good printing quality are welcomed into the exclusive INCQC.

A list of the 2010-2012 club members, and details of the INCQC, can be found at www.colorqualityclub.org.

Milestone of India - Milestone in Muslim, Hindu and Sikh Unity. (Bidar - Karnataka)

Bidar: Sri Manik Prabhu Samsthan in Manik Nagar in Humnabad, Bidar district, is a place frequented by Muslims, Hindus and Sikhs. Founded by the saint/ philosopher Manik Prabhu in 1845, the temple and the ashram around it organises both Hindu and Muslim festivals all through the year.

The samsthan is considered sacred by the three religions. Muslim devotees believe Manik Prabhu was the incarnation of Sufi saint Mehboob Subhani.

There is also the belief that the Nizam of Hyderabad, Mir Mehboob Ali Khan was a reincarnation of Sri Manik Prabhu.

Nearly two lakh devotees from across the country visit the small temple town of Manik Nagar to attend the Datta Jayanti in December every year.

The temple also witnesses celebrations of Maha Shivaratri, Krishna Janmashtami and Holi.

Outlook

What sets it apart from other places of worship is that the samsthan organises Moharram, Fatahyazdaham Gyarahanvi Shareef & Ziarat of Mahaboob Subhani and Qatl Ki Raat. People of all faiths participate in these events with enthusiasm.

Sri Manik Prabhu developed an ecclesiastical philosophy, drawing inspiration from the sacred texts of all faiths. He is referred to as ‘Sakalamata Acharya', a scholar of all faiths.

Followers

He was well read in Sanskrit and Urdu and his preachings and poetry are replete with references to sayings from texts of all faiths and anecdotes. The Nizams of Hyderabad were his followers.

“Sri Manik Prabhu truly lived the saying: let the noble thought come to me from everywhere,” said samsthan secretary Anandraj Manik Prabhu.

He focused on the spiritual unity of the human race, a meaningful connection between men in a spirit of fellowship and brotherhood, disregarding affiliations of religion, caste or creed. Even today, Manik Nagar remains a centre for harmony and brotherhood,” he added. Recently, Sri Gyanraj Manik Prabhu, head of the samsthan was invited to inaugurate a masjid in Humnabad.
The ashram has evolved into an institution of social change in the last six decades. It now runs 19 educational-cultural institutions, including schools for the visually challenged in Humnabad and Raichur, and an orphanage.

A charity hospital is also coming up in Manik Nagar.

Milestone of India - Navarathri Brahmotsavams - ‘Pushpaka Vimanam' for Lord Balaji at Tirumala.


TIRUMALA: ‘Elegance' marked the procession of Pushpaka Vimanam organised on Wednesday evening on the sixth day of the ongoing annual ‘Navarathri Brahmotsavams' of Lord Venkateswara.

The processional deities of Lord Malayappa flanked by His two divine consorts on either side mounted atop the exquisitely decorated Pushpaka Vimanam was taken around the Mada Streets. The Vimanam,which measured 28-feet-high with a width of 10 feet, was artistically made up of coconut leaves and was ornamentally decorated with several quintals of aromatic flowers. TTD imported some special varieties of flowers from Bangkok and other European countries that went into the making of the floral Vimanam. Prominent among others who participated in the festival include the TTDs Specified Authority Chairman J.Satyanarayana, joint executive officer K.Bhaskar and Chief Security and Vigilance Officer M.K.Singh. Special rituals like ‘Vasanthotsavam' and ‘Asthanam' were also conducted.
OM NAMO VENKATESAYA !

Milestone of India - Milestone in Indo - Vietnam ties.


SINGAPORE: India and Vietnam on Wednesday decided to extend the frontiers of their defence-related cooperation. As the centrepiece, New Delhi agreed to expand assistance to Hanoi in its ongoing military modernisation, according to sources.

The modalities of toning up cooperation were discussed, from a broad political perspective, by Defence Minister A. K. Antony and his Vietnamese counterpart Phung Quang Thanh in Hanoi. Their talks followed India's participation in the first-ever Asia-Pacific Defence Ministers' meeting, which ended in the Vietnamese capital on Tuesday.

Mr. Antony later called on Vietnamese Prime Minister Nguyen Tan Dung. They discussed regional and international issues of common interest in the context of India's ongoing participation in the East Asia Summit process and New Delhi's growing links with the Association of Southeast Asian Nations .

Defence Secretary Pradeep Kumar and India's Ambassador Ranjit Rae assisted Mr. Antony in these talks. Both countries expressed satisfaction at the progress made so far under their defence cooperation memorandum of November 2009.

Specifically, India now agreed to share its expertise in defence-related information technology and the usage of English for military purposes. Such cooperation was seen as a promising possibility, sources said.

However, it was not immediately clear whether the model of India's assistance to Indonesia, specifically an army-oriented IT lab, would apply to Vietnam as well.

There was no authoritative word on whether Vietnam would, like Malaysia, seek to capitalise on India's expertise in the training of pilots for Russian-made combat aircraft.

However, sources said the two sides discussed military training, as different from joint exercises, as a key aspect of cooperation.

In a press release, the Defence Ministry later announced that India “will provide support to Vietnam to enhance and upgrade the capabilities of [its] services in general and navy in particular. New Delhi would also help Hanoi in its programme of capacity-building for repair and maintenance.

New Delhi agreed to host the Vietnamese Army for joint training in mountain and jungle warfare at a suitable Indian location next year. India offered to help Vietnam in mastering the art of United Nations peace-keeping operations.

Cooperation between the defence institutes of the two countries was also agreed upon.

Vietnam, for its part, wanted more port-calls by the Indian warships and offered maintenance-and-repair facilities at its ports.

Milestone of India - Milestone in Hindu, Muslim and Christian Unity. (Mangalore - Karnataka)


MANGALORE: Even as the 3,000-year-old Mangaladevi temple dons the glitter of yet another festive season, its committed devotees seek to underline the syncretism of this ancient temple. Once patronised by the kings of the Alupa dynasty (A.D. 650-1399), it was taken over by the Government after Independence and is run by a trust. The city of Mangalore, once known as Mangalapuram, owes its name to the Mangaladevi temple.

Speaking to The Hindu over the clamour of the ongoing Navaratri celebrations, which is attracting over 40,000 devotees a day, temple's managing trustee Ramanath Hegde says: “Even in times of the worst sectarian conflict in the region, Muslim and Christian devotees would visit the shrine.”

Mr. Hegde says Mangaladevi considered a deity of fertility. There was a belief that girls of marriageable age would find a suitable husband if they pray here. “Girls wearing burkha can often be seen visiting the temple with their parents and family,” Mr. Hegde says.

Abdul Karim (name changed) is married to a Hindu. “Nobody would solemnise our marriage and we were both unwilling to go in for a civil wedding,” he says with his six-year-old daughter in tow. Although he follows Islamic traditions, Mangaladevi has a special place in his heart and he never misses the major festivals here.

Pointing out that the Swayamvara Mantap of the temple is famous, Mr. Hegde says, “We have solemnised several marriages between Indians and foreigners. The only thing we insist on is that the wedding must be conducted as per Hindu customs.” The temple has the distinction of never having prevented the entry of lower castes.

Milestone of India - Navarathri Brahmotsavam - Garuda Seva for Lord Venkateswara at Tirumala.



TIRUMALA: The temple town of Tirumala witnessed an unprecedented turnout of people for the auspicious ‘Garuda Seva' festival observed on Tuesday, the fifth day of the Brahmotsavams of Lord Venkateswara.

Devotees, particularly from the neighbouring States of Tamil Nadu and Karnataka and various parts of the State, started descending atop the temple town since Tuesday morning. The second ghat road leading to Tirumala experienced heavy vehicular traffic.

Crowds start swelling

On the other hand, tens of thousands of devotees reached the hill town on foot. The crowd started swelling as the day progressed and the open-top galleries constructed along the Mada streets encircling the holy shrine, exclusively for the benefit of devotees, were full to their capacity by evening. The processional deity of Lord Malayappa mounted atop the Golden ‘Garuda' vahanam was taken around the Mada streets in a celestial procession. The deity was adorned with very rare and precious jewels, including the centuries old Makara Kanti, Lakshmi haram, Sahasranamavali haram, besides other diamond-studded ornaments.

Vehicles regulated

Several areas in the town were choked and all the parking lots were packed. The traffic police imposed curbs and regulated the movement of vehicles. The town reverberated with pilgrim activities and wore a festive look.

Devotees entering the Mada streets were thoroughly frisked by the local police and the TTD security sleuths at all the entry points.

Earlier in the morning, the Lord was brought out in a grand procession donning the ‘Mohini' avatharam.

The deity was mounted atop the exquisitely decorated ivory palanquin and was taken around the Mada streets encircling the shrine. About 3,000 security personnel, including the district police, have been drafted for bandobust duty for the festival.

Milestone of India - Milestone in Hindu - Christian Unity. (Kerala - India.)


PATHANAMTHITTA: The Syro-Malankara Catholic Church, on Tuesday, set an example for sparring religious groups by making arrangements for the cremation of a doctor of the Pushpagiri Medical College (PMC) Hospital in Thiruvalla as per Hindu rites. The initiative came from the Metropolitan Archbishop of Thiruvalla Thomas Mar Coorilos, who asked the PMC authorities to make funeral arrangements on the hospital premises itself.

B. Brijesh Kumar Singh, 61, from Bihar, had served Pushpagiri for 28 years. He was found dead on Saturday at a hotel room in Kochi where he had been waiting for next day's flight to his home town, Patna, for the Navaratri festival.

The cause of death had been identified as cardiac arrest, said Fr. Thomas Kodinattumkunnel, PMC Chief Executive Officer.

The younger brother of the deceased, R.P. Singh and his nephew, Mayan Singh, reached Thiruvalla on Tuesday. The church arranged a Brahmin priest for leading the funeral rites on the hospital premises in the presence of a large number of clergy as well as the PMC staff and students.

Fr. Santhosh Azhakath, PMC director (Human Resources), was in charge of the arrangements for the cremation.

The Archbishop, accompanied by Fr. Kodinattumkunnel, was present throughout the ceremony and offered flowers, sesame and ghee as directed by the Brahmin priest. The Christian priests and nuns followed suit.

Wrapped in a red silk cloth, the doctor's body was kept on a specially prepared funeral pyre and was lit by his nephew after a 40-minute ceremony.

The Archbishop also led a prayer service, chanting verses from the Srimad Bhagavad Gita and the Holy Bible. Fr Azhakath said the Syro-Malankara Catholic Church believed that respect and trust among different religious groups was the prime necessity to evade problems in this age of communal divide.

Dr. Singh is survived by his daughter and parents. His brother and nephew would leave for Bihar with the funeral ashes, said Fr. Azhakath.

Milestone of India - Commonwealth Games - Women's 4 x 400 team runs to gold.


NEW DELHI: The ambience was electric. So were the performances.

There was a medal rush by the Indians at the Commonwealth Games here on Tuesday and for a brief moment, one almost lost count.

A gold by the women's mile relay team and four bronze medals marked the concluding day of track and field action at the Jawaharlal Nehru Stadium. The bronzes came from triple jumper Renjith Maheswary, javelin thrower Kashinath Naik, both in the men's section, and from both the sprint relay teams.

Rich haul

What India could not achieve in more than fifty years at the Commonwealth Games, it managed to do in just five magical days in Delhi. The country had won just nine track and field medals at the Games, starting with Milkha Singh's gold in 1958, before Delhi, but now, with only the marathon to go on Thursday, India already has 12 medals, including two golds.

“It's unbelievable, I've never seen some of the girls run like this before,” said P.T. Usha, after watching the 4x400 relay women take the gold.

A.C. Ashwini, a hurdler, ran the race of her life to overtake Nigerian Dammy Abogunloko and give India the lead midway through the third leg. Mandeep Kaur, the anchor, continued the good work as the host pocketed its second gold of these Games and its first-ever relay victory in the Games history. Manjeet Kaur and Sini Jose ran the first two legs.

“We're very happy, we were sure of the bronze, the gold is a big surprise,” said Mandeep after the golden run which was timed at 3:27.77s. “Our baton exchange was very good.”
Ashwini's confidence was a notch higher. “We expected to win the gold. We knew we'd win if we beat Nigeria. And we did.”

The medals were so quick in coming, five of them in around two hours, that the nearly 45,000 spectators at the stadium were left dazed, drunk in pure joy.

Stunning show

H.M. Jyothi was dazed too, after leading the women's 4x100m relay team to the bronze, its first sprint relay medal in the Games' history. India's short sprinters have often been so mediocre that the country sometimes doesn't even field teams at the Commonwealth Games.
But on Tuesday, with S. Geetha, Srabani Nanda, P.K. Priya and Jyothi on track, it was a different day.

“I asked Geetha whether this is all a dream,” said Jyothi.“I couldn't believe it. I was unwell too, had fever, throat pain and a toothache yesterday. I wasn't even sure whether I'd be able to run today.”

It could have been a silver but for Ghana's Janet Amposah dipping at the tape, denying India that honour.

Meanwhile, the men's sprint relay team did one better. The quartet of M. Rahamatulla, Sathya Suresh, Shameermon and Abdul Najeeb Qureshi not only won the bronze but also bettered the National record, their second in as many days.

“We believed in ourselves,” said Shameermon. “Yesterday, the baton exchange was not good. We worked on that and it paid off.”

The team clocked 38.89 secs improving upon the 39-second barrier for the first time.

There was plenty of action on the field too. Former Asian champion Renjith Maheswary was jumping for joy after his career-best 17.07m leap in the third round of the men's triple jump which won him the bronze.

That effort broke Renjith's own three-year-old national record of 17.04m. The 24-year-old upset England's former European runner-up Douglas Nathan (PB 17.64) and Grenada's Randy Lewis (PB 17.49) on his way with a massive third-round jump.

Renjith's effort was probably the country's best performance in athletics at these Games.

Around the same time, Kashinath won the men's javelin bronze with a fifth round throw of 74.29m.

Milestone of India - India elected to U.N. Security Council.

NEW DELHI: India was elected as a non-permanent member of the United Nations Security Council on Tuesday with an overwhelming number of countries endorsing its sole candidature from the Asian group.

In polling for 10 seats that took place at the U.N. headquarters in New York, India received the highest number of votes — 187 out of 192 — among all countries in the fray.

“This resounding endorsement of India's candidature at the United Nations reaffirms the overwhelming support India enjoys in the international community,” External Affairs Minister S.M. Krishna said at a late night press conference here soon after the results were known.

While thanking all the member states who supported India's candidature, Mr. Krishna said the country would have to live up to the responsibility entrusted by such a large number of countries. He also hoped India's objective approach would pave the way for its entry as a permanent member.

“India will demonstrate to the world that India is good for the world,” he added.

Corrections and Clarifications

The news report, “India elected to U.N. Security Council” (October 13, 2010), wrongly mentioned that polling was held for 10 seats at the U.N. headquarters in New York on Tuesday. It should have been 5 seats.