Source: http://earthquake.usgs.gov/eqcenter/recenteqsww/Quakes/us2008xace.php
18 September, 2008
I felt it
Yesterday early morning, I felt it (magnitude 4.9).
Source: http://earthquake.usgs.gov/eqcenter/recenteqsww/Quakes/us2008xace.php
Source: http://earthquake.usgs.gov/eqcenter/recenteqsww/Quakes/us2008xace.php
05 September, 2008
Damaged Currency Notes
If you live in India in first decade of twenty first century, you inevitably come across currency notes which are in bad condition, torn or lots of writing on it. In general, notes (especially 10 Rupees denomination) are is bad condition.
Careless handling by people (from all walks of life) could be the is main cause. Also some bank employee and employees of other institutions which handle the large amount notes write on the notes using pen. Sometime they staple the notes. Yesterday, I actually saw Life Insurance Corporation of India (LIC) employee writing the total sum on the top note. I hope she listens to RBI's following policy guideline (issued in 2007) about handling notes.
"It has, therefore, been decided that hereinafter and with immediate effect :
Although policy is for banks, it would be nice if LIC being so big and pervasive thought out India, follows it, not out of compulsion, but to keep the notes clean and increase their life span.
As per this FAQ on RBI website, all banks should accept partially damaned notes, so if you have them just submit at your nearest bank.
BTW did you know about RBI's Project Financial Literacy. It is available in many regional languages, well done RBI.
Careless handling by people (from all walks of life) could be the is main cause. Also some bank employee and employees of other institutions which handle the large amount notes write on the notes using pen. Sometime they staple the notes. Yesterday, I actually saw Life Insurance Corporation of India (LIC) employee writing the total sum on the top note. I hope she listens to RBI's following policy guideline (issued in 2007) about handling notes.
"It has, therefore, been decided that hereinafter and with immediate effect :
a. banks should do away with stapling of any note packets and instead secure them with paper bands,
b. banks should sort notes into re-issuables and non-issuables, and issue only clean notes to public. Soiled notes in unstapled condition may be tendered at the Reserve Bank in inward remittances through Currency Chests; and,
c. banks should forthwith stop writing of any kind on watermark window of bank notes."
Although policy is for banks, it would be nice if LIC being so big and pervasive thought out India, follows it, not out of compulsion, but to keep the notes clean and increase their life span.
As per this FAQ on RBI website, all banks should accept partially damaned notes, so if you have them just submit at your nearest bank.
BTW did you know about RBI's Project Financial Literacy. It is available in many regional languages, well done RBI.
15 May, 2008
Skill Gap
TV Mohandas Pai's article "Bridging the skill gap through PPPs" in Economic Times is full of interesting statistics about education and human resources in India.
Some of interesting points in the article:
"While we have lower number (i.e. percentage) of youngsters in colleges ... we are creating a large number of graduates whose skill levels and capabilities are totally out of sync with what the job market requires, creating a major human resource challenge"
"There is a tremendous shortage of carpenters, plumbers, electricians, mason, fitters, welders, drivers and other skilled people who form the backbone of any economy"
Later part of article mentions that Government is unable to spend budget allocate to higher education, which is surprising given the fact that I have read stories about lower salaries (compared to private sector) for teachers are Govt. run colleges.
Author then suggests spending budgeted money on scholarships for students. He did not mention anything about quality of education at primary and secondary schools. NGO Pratham has some recent statistics about students in schools for all states in India.
Last part of the article does not really elaborate on what he meant by Public-Private partnerships (PPPs). Most likely he wanted to suggest giving more autonomy to private institutes. Few months back there were news about problems with AICTE .
Some useful/relevant definitions:
Skilled Labour : Workers who have special knowledge or qualifications
Unskilled Labor: Also called common labor, -- is that which performs simple manual operations that are readily learned in a short time and that require exercise of little or no independent judgment.
| Universities | 450 |
| Colleges | 18000 |
| Rate of Higher Education (Age group = 18-24 Yrs) | 11% |
| Total No. of People In Formal Sector | 60 to 65 Million |
| No. of People Employed In Govt. | 20 Million |
Some of interesting points in the article:
"While we have lower number (i.e. percentage) of youngsters in colleges ... we are creating a large number of graduates whose skill levels and capabilities are totally out of sync with what the job market requires, creating a major human resource challenge"
"There is a tremendous shortage of carpenters, plumbers, electricians, mason, fitters, welders, drivers and other skilled people who form the backbone of any economy"
Later part of article mentions that Government is unable to spend budget allocate to higher education, which is surprising given the fact that I have read stories about lower salaries (compared to private sector) for teachers are Govt. run colleges.
Author then suggests spending budgeted money on scholarships for students. He did not mention anything about quality of education at primary and secondary schools. NGO Pratham has some recent statistics about students in schools for all states in India.
Last part of the article does not really elaborate on what he meant by Public-Private partnerships (PPPs). Most likely he wanted to suggest giving more autonomy to private institutes. Few months back there were news about problems with AICTE .
Some useful/relevant definitions:
Skilled Labour : Workers who have special knowledge or qualifications
Unskilled Labor: Also called common labor, -- is that which performs simple manual operations that are readily learned in a short time and that require exercise of little or no independent judgment.
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