The Seaboard Overseas Trading Group, through its local subsidiary National Milling Company (NAMILCO), on Thursday handed over a monetary contribution to Dharm Shala, a home for persons who need shelter and other assistance.The contribution was handed over by Managing Director of NAMILCO, Bert Sukhai. According to him, it is part of their annual social corporate responsibility. Other shelters and organisations that would have benefitted in the past include Bal Nivas, Ptolemy Reid Center, Doobay Medical Clinic among others.Managing Director Bert Sukhai (fourth from left) makes the contribution to Kella Ramsaroop of the Dharm Shala“It’s a yearly thing that we do for our overseas company. We are part of a group called Seaboard Corporation and they make donations every year worldwide to our subsidiaries. We’re fortunate that for the last seven or eight years, they have been giving us a donation to give to charity,” Sukhai expressed.Managing Director of the Dharm Shala, Kella Ramsaroop received the donation on behalf of the shelter. Presently, there are about 25 persons who are being cared for at the shelter.She insisted that these individuals are being provided with meals, sleeping accommodation, religious outlets and all other necessities. The company was thanked for their sizeable donation, as it would assist those in need.“I always say that we’re national interest. We not only feed these people, but we do a lot for them. We look after their social and religious beliefs and everything”.Seaboard Overseas Training Group lists its missions as promoting health, development, education of children, empowerment of women, assisting with programmes dedicated to improving public health, eliminating hunger and promoting nutrition, developing sustainable agriculture and providing funding to other worthy causes.Some 98 years ago, the Dharm Shala was founded by Pandit Ramsaroop Maraj. On 1941, twenty years after, he established the Albouystown facility, the Dharm Shala extended its services to Berbice, where it established a building of similar capacity and erected a temple and a church to serve its residents and the wider community.
Klay Thompson subscribes. You can too for just 11 cents a day for 11 months + receive a free Warriors Championship book. Sign me up!HOUSTON – The Warriors’ initial fears became a reality.Kevin Durant had an MRI on Thursday that confirmed a strained right calf, sidelining him for when the Warriors play the Houston Rockets in Game 6 of the Western Conference semifinals here on Friday. Should the Rockets force a Game 7 for Sunday at Oracle Arena, Durant will miss that game, too.And yet even if …
Share Facebook Twitter Google + LinkedIn Pinterest One hot summer of dealing with the task of connecting his old 330 John Deere hay baler’s driveshaft to the PTO of his John Deere 6230 was quite enough for 80-year-old Roy Noel.As Noel was working on his rolling-hill farm in Pike County, he came up with a solution for this painstaking chore.“The first year I had that tractor, I could hardly turn the power take off shaft and the driveshaft on that baler is really heavy. It was all I could do to hold it up when I was connecting it,” Noel said. “By the time I tried to hold that driveshaft up, in line, and turn the tractor’s shaft to put it together, 20 minutes would go by.”The second year in the hay fields with those same green and yellow implements, Noel knew that there had to be a better, more productive way to get the job done.“I had a prototype of this tool I designed made at a shop in Waverly,” Noel said, as he showed off his “Y”-shaped, wrench type instrument with a thumb screw on one tip. “I used it all of that summer on my baler, bush hog and mower conditioner and it worked just fine.”Noel knew he had something that could make a difference on many other farms, like it did for his, so he called up a lawyer in Cincinnati. After 3 years, Noel’s ingenuity and hard work was recognized in the form of a U.S. patent. Patent number 9,009,943, to be exact, means Noel is the only one that can manufacture this particular design.“Research was done about this idea of mine all the way back to the 1800’s, and I found out that PTOs on tractors didn’t start until the 1920’s,” Noel said. “So I figured I had something unique, which surprised me because the concept is so simple.”Noel’s inventions give a farmer just enough leverage to turn the tractor’s PTO shaft to get any piece of equipment hooked up safely and much more efficiently, in about 10 seconds.The prototype still sits on Noel’s kitchen table, alongside one of 31 tools that have been manufactured for sale. Right now he is all sold out.This isn’t the first time that Noel, a retired machinist, has come up with an idea on his farm that has made the job more productive. Years ago, he designed a guard on a small bush hog to keep the weeds from wrapping around the shaft, but the idea of patenting that concept never came to mind and he says he wouldn’t mess with another patent now.As for the patent he did get, he doesn’t plan to keep it too much longer.“I’m not sure what it’s worth, but the plan is to sell this patent,” Noel said. “I’m dealing with a company in Arizona that specializes in selling patents like this and they will deal on the price with a company that wants to buy it. They’ll get a small percentage for selling it and I’ll get the rest.”When that day comes, Noel says he doesn’t have any big plans because he is too attached to the farm.While Noel waits for that little piece of paper to come in the mail, he is getting plenty of big items sent to him, including commendations from the Ohio Senate and the Ohio House of Representatives.“Between the patent letter and those two recognitions from Columbus, we have plenty of new frames to hang,” Noel said, as he looked along the walls lined with his prized deer heads. “But I guess we’ll have to move some of these first.”Trophies from a good day in the woods will soon be replaced by trophies from a lifetime of a job well done in the field.
Finally, the best part: updating your Facebook status. An option at the bottom allows you to update your status with a pre-configured message that says what show your watching. Although I still wish that I could customize my message, this simple, one-button post option is a great feature to have. On the next screen, you’re presented with boxes to enter in your Facebook email address and password. There’s a handy option to “Remember Me” so you don’t have to re-enter your email each time. You’re also prompted to set up an optional numeric passcode which you can use in the future in lieu of entering in your password. I recommend doing so – pushing numbers on your remote is a lot easier and faster than using that on-screen keyboard. Now you can enter your new passcode to access the Facebook widget, but before you begin you still have to scroll through pages and pages of an end-user agreement and select “I agree” at the end. Once you’re past these initial setup configurations, you can proceed with logging into your Facebook account. The Facebook widget only appears on one half of your screen, so you can play around with it while still continuing to watch whatever program you have on. ConclusionOverall, I’m thrilled to have this sort of functionality on my TV, but I’d like to see a few improvements. I’d like the option to make the Twitter widget more of a client so I can tweet an opinion about what I’m watching or at least that I’m watching something. Although the on-screen keyboard is cumbersome and slow, what better way to kill time in between commercials? I’d also like to type in custom Facebook status messages in the same way. The only other major complaint was speed. There was a bit of a delay when scrolling through photos in my album, for example, and hitting the scroll button again and again only led to the selection moving way too far ahead of where I wanted to go. I should have known better than to keep mashing it, but with TVs, you expect instant reactions. Channel Up changes the channel immediately, for example, without any delay. Also, when viewing tweets, scrolling up and down through the list did a weird refresh of the entire screen which was distracting. I didn’t see the same type of refresh when scrolling through Facebook updates, so it seems like something is really off there. Perhaps the widget also doing a search to look for more current updates…I’m not sure. In any event, it needs to be fixed. But at the end of the day, despite these issues, having Facebook and Twitter on my TV is truly incredible. Oh, I should also mention that the Widget Bazaar introduces two other widgets: Sudoku and ESPN Fantasy Sports. More widgets will launch in the future. I’ve only included a selection of images in this post, for all the photos from my TV, you can visit the online album here. Both the “Friends – Status Updates” and the “All Friends” section looked exactly the same to me. I thought the “All Friends” section would be more like the News Feed (so-and-so posted a photo, so-and-so requested help in Mafia Wars), but that didn’t appear to be the case. It’s possible that all my friends were just surprisingly inactive on Facebook at the time I launched this section, but I’m not so sure. In any event, both sections looked exactly the same: a list of friends and their status messages. Once logged in, your new Facebook sidebar appears with your current program still playing to the right. There’s an option at the top to “switch user” which will probably introduce a whole new way to fight over the remote control (it’s my turn on Facebook!). The first option – the one to view your “Profile” – is actually quite boring. It just displays your current profile photo and status, two things you probably don’t need to see. Unfortunately, there’s no way to use the on-screen keyboard to post a custom status update from within this area. Guide to Performing Bulk Email Verification Tags:#Facebook#Product Reviews#twitter#web Last night, something amazing happened: Facebook and Twitter came to my TV. No, I didn’t go out and purchase some brand-new internet-enabled “TV of the future,” I just received an upgrade to my DVR. Thanks to Verizon FiOS and their new “Widget Bazaar,” I can now access Facebook and Twitter using only my remote control. Jealous? You should be. TV will never be the same again. We first covered Verizon’s vision for the web-connected TV back in March of this year when the service was still in development. Little did we know then how soon we’d actually see it in action. Since that initial first look, Verizon’s Widget Bazaar, an on-screen gallery of web-enabled widgets, has been polished and tweaked quite a bit. You’ll be able to see the differences by comparing the images taken then with the ones embedded below. At the very least, the service represents a good first step in bringing the web to the TV without losing that essential “TV experience” which has more to do with passively holding a remote than it does with actively typing onto a keyboard. That psychological barrier between participation levels involved in surfing the net and watching TV is probably what led early internet-enabled TV experiences to fail…like “Web TV” for example. People just don’t want keyboards in the living room. Verizon seems to understand our need for more passive interaction and has made nearly everything about their web-enabled TV service easy to perform with the Verizon FiOS remote control. Hands-On: Facebook on the TVFirst things first. Before you can have any fun with the Widget Bazaar, you have to configure a parental control password. This may seem a bit odd, but it’s understandable given some of the Twitter hashtags we’ve seen become trending topics lately. To set up the parental control passcode, you have to delve into settings. It’s not really that difficult and the process was complete in a matter of moments. The interface to all these options looks the same: tweets on the right, TV show playing on the left – just like with the Facebook widget. The tweets don’t update automatically, but you can press “OK” on your remote to refresh them. You can also scroll up and down through the list to see more. The absolute coolest option within the Twitter widget is its ability to display tweets about the current show. In my case, I was watching “Pan’s Labyrinth” on HBO (which is, by the way, an odd but interesting tale). Surprisingly, there were a few others tweeting about this movie, too. Of course, had I been watching something more common – like American Idol for instance – there surely would have been tons more tweets to see. The only problem with the way these tweets are displayed is the lack of a timestamp. I really don’t know if these folks were watching Pan’s Labyrinth with me right now or if they were watching it sometime in the past. Related Posts sarah perez The “Albums” section was particularly fun and probably the most useful of all the options. Here, you can launch a list of your Facebook photo albums and then scroll through the pictures they contained in a slideshow-like format. Another tap on the “OK” button would launch the pictures full-screen. Hands-On: Twitter on the TVBefore you can start using the Twitter widget, you have to agree yet again to another Terms of Service. Besides the typical lawyerly stuff you’d expect to see, there was an interesting section that pointed you to www22.verizon.com/terms to read more about the Digital Millennium Copyright Act for info on how to contact Verizon with claims. There was also a section that informed you how to report child pornography posted to Twitter. (I wasn’t even aware that Twitter had that problem, but I guess Verizon’s lawyers were just covering all their bases). Unlike with Facebook, you don’t configure your own Twitter account within this widget. That means you can’t see your replies, direct messages or your friends’ timeline. In other words, this widget isn’t a Twitter client. That’s disappointing because I’d like to be able to tweet from my TV…at the very least I think you should have the same option as in Facebook to tweet what you’re watching. Sadly, that’s not the case. Instead, the Verizon Twitter widget provides more of a read-only experience. You can check out a list of the latest trends and see the related tweets, perform keyword-based searches, or even configure “favorite topics” for custom saved searches of your own. (Hint: set up a favorite search for your Twitter username to keep track of replies). The Dos and Don’ts of Brand Awareness Videos Facebook is Becoming Less Personal and More Pro… A Comprehensive Guide to a Content Audit
BJP leader Yashwant Sinha, who had recently caused a flutter by criticising the Centre for its handling of the economy, will be on a three-day tour of poll-bound Gujarat starting November 14, on an invitation from an NGO supported by the Congress party.The former Union Finance Minister would interact with the business community and deliver lectures in Ahmedabad, Rajkot and Surat, a Congress leader said on Thursday.The events are slated to be organised by the Loksahi Bachao Andolan (Save Democracy Campaign), an NGO supported by the Congress.Economic featsMr. Sinha, whose son Jayant Sinha is a Minister in the Narendra Modi government, is likely to speak about demonetisation and the GST, the two steps being showcased as major economic achievements by the current dispensation.Former Finance Minister and Congress leader P. Chidambaram had recently interacted with the traders of Rajkot on the GST and on the subject of ‘State of Economy’, though not under the banner of any political party.In a recent newspaper article, Mr. Sinha criticised the Centre and Union Finance Minister Arun Jaitley in particular for the handling of the economy, which he said was on a “downward spiral and is poised for a hard landing”.Mr. Sinha had also written that many people in the BJP were aware of this reality, but not speaking up out of fear.
Fresh snowfall only added to the prevailing deafening and eerie silence at Kulgam’s Batagund village, home to 38-year-old Nazir Ahmad Wani, the Kashmir valley’s first ever awardee of the Ashok Chakra — India’s highest peacetime military decoration. Ironically, the district also became a hotbed of militancy last year.Also Read Kashmir’s first Ashok Chakra for Lance Naik Nazir Ahmad Wani Lance Naik Wani’s posthumous military decoration is least talked about in militancy-affected Kulgam, which saw 26 civilian deaths either near encounter sites or in street protests. At least 15 local militants were killed in more than 50 major operations conducted in the district.At the spare three-storey house of the Wanis, younger brother Mushtaq Ahmad is reticent and all guests are not welcome. “A few days ago, locals knocked on our door and broke the news about the award. The fact of the day is we lost him,” said the younger Wani, referring to his brother.Curious locals are keeping a tab on all guests visiting the house.“Kulgam has suffered the most in 2018,” said Majid Ganai, a local resident. “It was a year of funerals. We saw militants, informers, soldiers and policemen, all locals, returning home draped in coffins. Funerals were also only occasions of celebrations. Wani’s feat could hardly be discussed in these times,” he added.The Wanis’ neighbours said Wani had been shooed away by militant commander Mohammad Ayoub from nearby Bhan village, who had rejected his offer to join militancy. In 1992, Wani joined the Ikhwan, a local name for an irregular counter-insurgency force drawn from locals. Married to his school-time sweetheart Mahajabeen in 2002, Wani’s two children, Athar, a Class 10 student, and Shahid, a Class 8 student, would shuttle between Jammu and the Valley “to ensure their safety”. Wani would always drop by uninformed at home, as the militants stepped up attacks on local soldiers, killing at least three members of the armed forces in their houses.Regularised in the Army in 2004, his counter-insurgent colleague Mukhtar Ahmad Malik alias Mukhtar Gola’s killing saw Wani pledging to go after the killers. In September, Lashkar-e-Taiba (LeT) militants shot Malik dead inside his house in Shurat village. The killing was filmed on a mobile phone by the militants, who fired from inside the pheran, a long woolen robe.One-and-half months later, Wani volunteered to take on the LeT’s Umar Ganai and his five associates, the main suspect behind Malik’s killing, on November 25 in Hirapur village in Shopian. Ganai and Wani shot each other dead in the encounter, said a police officer, declining to be identified.The citation for the award, issued by the Rashtrapati Bhawan, reads: “Lance Naik Wani epitomised qualities of a fine soldier. He always volunteered for challenging missions, displaying great courage under adverse circumstances, exposing himself to grave danger in the line of duty.”Meanwhile, Governor Satya Pal Malik said Wani would always be an inspiration for the generations to come and motivate them to work selflessly for the safety and security of the country.
Morado stars in reunion with Valdez in PVL Ethel Booba on hotel’s clarification that ‘kikiam’ is ‘chicken sausage’: ‘Kung di pa pansinin, baka isipin nila ok lang’ China furious as Trump signs bills in support of Hong Kong Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games The Banko Spikers, though, missed the services of Dzi Gervacio, who is on study leave, and the duo of Kathy Bersola and Nicole Tiamzon, who are in vacation after graduating from University of the Philippines.And although his team won, Air Force head coach Jasper Jimenez they have to improve in a myriad of ways if ever they plan to contend in the conference.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool stars“We still have lots to improve especially on defense, both on the floor and in front of the net,” said Jimenez. “Communication and timing are also areas we have to improve on.”Air Force committed 43 errors, but the Lady Jet Spikers’ 47 attack points barely managed to contain the team’s shortcomings. Pagasa: Kammuri now a typhoon, may enter PAR by weekend LATEST STORIES Don’t miss out on the latest news and information. What ‘missteps’? Lacson: SEA Games fund put in foundation like ‘Napoles case’ LOOK: Jane De Leon meets fellow ‘Darna’ Marian Rivera Another vape smoker nabbed in Lucena Philippine Air Force brushed off a horrendous second set and turned back Perlas Banko in four sets, 25-23, 9-25, 25-20, 25-20, Saturday in the Premier Volleyball League Open Conference at Filoil Flying V Centre.The Lady Jet Spikers enjoyed a three-pronged attack with Iari Yongco leading the way with 15 points while Jocemer Tapic and Mary Ann Pantino had 14 and 11 points, respectively.ADVERTISEMENT Rysabelle Devanadera and Amanda Villanueva led Perlas with nine points apiece.Sports Related Videospowered by AdSparcRead Next MOST READ Cayetano to unmask people behind ‘smear campaign’ vs him, SEA Games View comments
Robredo: True leaders perform well despite having ‘uninspiring’ boss PLAY LIST 02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City01:07Trump talks impeachment while meeting NCAA athletes02:49World-class track facilities installed at NCC for SEA Games Sports Related Videospowered by AdSparcRead Next Trump signs bills in support of Hong Kong protesters Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Lacson: SEA Games fund put in foundation like ‘Napoles case’ San Beda’s Davon Potts and Donald Tankoua celebrate. Tristan Tamayo/INQUIRER.netSan Beda stepped on the gas pedal early and blew Mapua out, 66-55, to nab its sixth win in the NCAA Season 93 men’s basketball tournament Friday at Filoil Flying V Centre in San Juan.Coming off a week-long break, the Red Lions imposed their will early and raced to a 23-6 charge in the first period, pulling away from the Cardinals and grabbing a lead as high as 25, 49-24 late in the third quarter.ADVERTISEMENT Robredo should’ve resigned as drug czar after lack of trust issue – Panelo Mapua still tried to recover and cut the deficit to just nine, 64-55, after a Kim Magboo bucket with 1:12 to play, but Robert Bolick’s free throws doused that rally as San Beda cruised to its fifth straight victory.Donald Tankoua made a living in the paint for the Red Lions, grabbing 11 points and 16 rebounds for his best game to date.FEATURED STORIESSPORTSSEA Games: Biñan football stadium stands out in preparedness, completionSPORTSPrivate companies step in to help SEA Games hostingSPORTSWin or don’t eat: the Philippines’ poverty-driven, world-beating pool starsJavee Mocon got 10 markers and six boards, Davon Potts had eight points and three rebounds, and Bolick collected six markers, eight boards, and four dimes in the balanced attack for San Beda.Despite the comfortable triumph, coach Boyet Fernandez chided his wards for what he felt was a lackluster showing in the payoff period. SAN BEDA 66 – Tankoua 11, Mocon 10, Potts 8, Bolick 6, Soberano 6, Cabanag 5, Carino 4, Bahio 4, Doliguez 3, Adamos 3, Tongco 2, Presbitero 2, Oftana 2, Abuda 0.MAPUA 55 – Bunag 20, Orquina 11, Magboo 10, Nieles 6, Victoria 4, Aguirre 2, Gabo 2, Jimenez 0, Raflores 0.Quarters: 23-6, 31-20, 51-32, 66-55. LATEST STORIES For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. “If we played the way we played in the fourth quarter, I think we’ll have a hard time against them. We played bad in the fourth quarter,” he said. “I just have to let the other guys realize that we can’t let those things happen. I hope my players realize that.”The Cardinals missed the services of Andoy Estrella, who is nursing an MCL injury.In his absence, Christian Bunag stepped up for the skidding Mapua (1-6) with 20 points and 18 rebounds in the team’s fifth consecutive defeat.Almel Orquina got 11 markers and four boards, while Magboo had 10 points and four rebounds.The Scores:ADVERTISEMENT Celebrity chef Gary Rhodes dies at 59 with wife by his side DILG, PNP back suspension of classes during SEA Games NBA: Analyst Charles Barkley says it’s ‘stupid’ that Kyrie Irving wants to leave Cavs NATO’s aging eye in the sky to get a last overhaul NGCP on security risk: Chinese just technical advisers View comments Don’t miss out on the latest news and information. MOST READ
Categories: Local San Diego News, Sports FacebookTwitter June 4, 2019 Posted: June 4, 2019 ???? Man Diego, CA#FriarFaithful pic.twitter.com/QbqLXp1nT8— San Diego Padres (@Padres) June 4, 2019“It felt great. I finally got a good swing and got a grand slam and got the W,” Machado said. “Beating a good pitcher like (Aaron) Nola, I mean, he was getting out of some key situations there that we left runners in scoring position that we should have drove in. … Overall a good W, a good inning for the ballclub so we really thrive off that.”Machado’s two-out slam off JD Hammer highlighted the seven-run sixth. After rookie Josh Naylor hit a two-run single to knock out Nola (6-1), Hammer came on and walked Greg Garcia to load the bases. He struck out Franmil Reyes before Machado drove the next pitch for his ninth career slam.Machado signed a $300 million, 10-year deal with the Padres on Feb. 21 and Harper signed a $330 million, 13-year deal with the Phillies on March 1.Machado said he didn’t get a chance to speak with Harper before the game.“I think he was getting ready and I was. It’s always good to find a new home. He found one and I found one myself. That’s the most excitement that we could get, knowing that we’re going to be here for a long period of time.”Reyes homered off Nola in the fifth, his 17th, and Ian Kinsler hit a go-ahead double in the sixth.Nola allowed six runs and eight hits in 5 1/3 innings, struck out three and walked three.“I just didn’t have it tonight, really didn’t have anything,” Nola said. “Curveball was missing, changeup was missing, fastball was missing. ”San Diego’s Eric Lauer (5-4) held the Phillies to one run and two hits in six innings, struck out three and walked three.J.T. Realmuto homered off Brad Wieck in the seventh, his ninth. He also had an RBI single in the fourth.ODD PLAYMcCutchen drew a leadoff walk before Kinsler, the second baseman, let Jean Segura’s popup drop. Kinsler threw to first to get Segura, who slipped coming out of the box and didn’t run hard. McCutchen was caught in a rundown and was hurt as he spun and tried to elude the tag getting back to first. He had to be helped off the field.“I didn’t feel it pop or anything,” McCutchen said. “Something felt uncomfortable, something that made me grab my knee and go down. I’ve had an ACL injury before and I know what that feels like. This didn’t feel like that. It’s swollen a little but there’s still mobility, I can still move it and all that.“I didn’t know where Jean was,” he added. “I didn’t know that he wasn’t close. Had I known he was close I would have stayed on first and not even ran. It’s kind of like a golden retriever going after a stick, the ball drops, I’m going.”Kapler said the Phillies will bring up Adam Haseley on Tuesday and if McCutchen isn’t available for the Phillies, “it will sting.”UP NEXTPhillies: RHP Jerad Eickhoff (2-3, 4.10) is scheduled to start the middle game of the series Tuesday night.Padres: Rookie RHP Chris Paddack (4-3, 2.40) is looking to bounce back from a loss at the New York Yankees in which he allowed career-highs of six hits, four runs and three home runs. AP SAN DIEGO (AP) — Manny Machado drove a high fly ball to right field and all Bryce Harper could do was turn, run to the wall and watch it sail over his head into the home run deck at Petco Park.Machado’s grand slam carried the San Diego Padres to an 8-2 victory against the NL East-leading Philadelphia Phillies in the first showdown this season between the superstars who changed teams during spring training.The Phillies lost center fielder Andrew McCutchen to a sprained left knee in the first inning. He’ll have an MRI TuesdayIt was Machado’s 10th homer this season and first since May 14 off Kenley Jansen in a 6-3 loss at the Los Angeles Dodgers. AP, Machado’s grand slam carries Padres over Harper’s Phillies
The Punjab National Bank unearthed a Rs 11,400-crore fraud at its Kalagodha branch in Mumbai.ReutersIn these troubled times, it’s axiomatic to say that ‘government’ is the Leviathan crouching around the neck of the governed. The larger the government becomes, the poorer the governed turn. Public sector banks were seen as the lifeline of a nation in the throes of reconstruction after Independence, but they’ve now become the channel through which public money flows out. Maybe it’s around time public sector banks are be privatised. At least, deny the corrupt a safe perch!Banks were nationalised in 1969, a political masterstroke that helped Indira Gandhi vanquish the Syndicate challenge and oust Morarji Desai as finance minister. However, beyond political goals, bank nationalisation had its stated economic goals — to stem the rising tide of bank failures, refocus bank lending on agriculture and offer credit support to a whole lot of priority sectors.Nationalising the banks was seen as the right means for national reconstruction — the process of giving the country back to the people. However, nearly 50 years later, the reality is that the nationalised banks have failed in this mission. And the graver realty is that they’ve sold out to those who loot the country. They’ve become the travesty of the original goals for which they were set up.The NPAs the public sector banks have racked up are a miserable reflection of the pernicious co-existence of the absence of accountability and rampant corruptionThe latest Economic Survey showed that as much as 82.6 percent of Indian banks’ loan book was accounted for by the large enterprises. Micro, Small and Medium Enterprises (MSMEs) received only 17.4 percent of the total credit. MSME is the sector that contributes 45 percent of the total manufacturing output and as much as 40 percent of the country’s exports.It just turns out that public sector banks have not just failed the poor of the country, the backbone of the economy. They’ve failed the nation by setting their regulations — and scruples — very low that mindboggling corporate piggeries are allowed to happen. The Punjab National Bank scam is just the latest of the examples. One may argue that such daylight robberies do not happen often. But the fact is that such loot of public wealth happens all too often, and they only take a little longer to emerge in the form of non-performing assets (NPAs).The NPAs the public sector banks have racked up are a miserable reflection of the pernicious co-existence of the absence of accountability and rampant corruption. Loans do not merely become bad loans; bad loans are created in the first place. Whose loss is it anyway? The government will recapitalise the banks with money from the public exchequer and then again, extricate more from the public in the form of taxes.Priority sector lendingYet, ironically, farm and MSME loans much often figure in the discourses about bad loans and the deteriorating asset quality in the banks. But what’s the truth? Are the public sector banks burdened so heavily with those little loans the farmers and the small time cottage industries avail of? According to the Economic Survey, only 11.8 percent of the NPAs is from the priority sector. Bank nationalisation’s stated aim was to offer more credit to the priority sector, which includes agriculture, MSMEs, housing for the underprivileged and education loans.At 11.8 percent, the NPA from this sector amounts to a meagre Rs 75,000 crore, compared with the 8.5 lakh crore in NPAs the public sector banks have accumulated. So, for whose sake have they been labouring? And it’s not even the case that public sector banks alone bear the NPAs from the priority sector. The Survey shows that priority sector NPAs in private banks was 9.6 percent.Under the Priority Sector Lending (PSL) guidelines, at least 18 percent of the adjusted net bank credit (ANBC) should go to the agriculture sector. Another 8 percent should be earmarked for small and marginal farmers. However, large public sector banks barely keep pace with this norm, let alone surpass it. According to an RBI report, in 2017, priority sector lending was flat in public sector banks while this showed better levels of growth in the private sector.Less loans to agri sector Another report showed that the growth of lending to the agriculture sector in the country fell to 5.8 percent as of September 2017, compared with 15.9 percent in the corresponding period in the previous year. A report from Madhya Pradesh shows that the number of farmers getting the farm loan waiver is just around 11 percent of the total targeted beneficiariesRBI data further showed that loans to agriculture sector in Karnataka fell from 17 percent to 6 percent while in Telangana, the fall was from around 20 percent to 3 percent. The situation is not different in other states in the country.And often there is a lot of noise about the pain of writing off farm loans. But what’s the reality? A report from Madhya Pradesh showed that the number of farmers getting the farm loan waiver is just around 11 percent of the total targeted beneficiaries.And, you are talking about individuals whose loan amounts are in the range of Rs 1 lakh, not the Rs 11,400 scraped off the corrupt system by Nirav Modi.