Presidential Elections: Support Dr.Meira Kumar

Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.

Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.

Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.

Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.

Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.

All the best to Dr.Meira Kumar.....👍✌



Wednesday, January 01, 2014

Banks allowed to lend up to Rs 1 lakh against gold jewellery
Mumbai, Dec 30, 2013: Reserve Bank has allowed banks to sanction loans of up to Rs 1 lakh against pledge of gold ornaments and jewellery.

"In response to suggestions from banks and with a view to ensuring a level playing field among various market participants, it has been decided to permit bullet repayment of loans extended against pledge of gold ornaments and jewellery for other than agricultural purposes...," RBI said in a notification.

Bullet repayment means a lump sum payment for the entire loan amount paid at the time of maturity.

The RBI in May had imposed restrictions on banks and NBFCs for providing loans against gold coins as well as units of gold ETFs and mutual funds.

Also banks were asked to ensure that the amount of loan to any customer against gold ornaments, gold jewellery and gold coins (weighing up to 50 grams) should be within the board approved limit.

As per today's RBI notification, the period of the loan should not exceed 12 months from the date of sanction.

Interest will be charged to the account at monthly but will become due for payment along with principal only at the maturity, it said.

Banks will recognise interest income on such loans in their profit and loss account only on collection, RBI added.

Banks should prescribe a minimum margin to be maintained in case of such loans and accordingly, fix the loan limit taking into account the market value of the security (gold ornaments), expected price fluctuations, interest that will accrue during the tenure of the loan etc, it said.

It further said, the account would be classified as non-performing asset (sub-standard category) even before the due date of repayment, if the prescribed margin is not maintained.

Courtesy: The Economic Times