Goa Arts & Literature Festival 2016

The recently concluded Goa Arts & Literature Festival 2016 held between Dec 08 and Dec 11, was a great event to attend, according to me. There was something for everyone, for a student of literature or fine arts, a writer, a poet, a blogger, a retired person looking to spend time in interesting pursuits, an avid reader, an intellectual, or someone looking to meet the writers / poets and take their autographs on their books. 

The inaugural function happened in Maqhinez Palace, Panjim. P. Sivakami and Mr. Jorge Barreto Xavier were the key note speakers. P. Sivakami spoke on the current state of affairs of Dalits, women and minorities. Mr. Xavier's talk was on literature. There was book release and and unveiling of Painting by the famous artist, Mr. Laxman Pai.

I love the poetry sessions, where the poets read out their poems. It is very different from reading by oneself from a book. Their rendition  reading will be far superior to mine any day, they also give an introduction to the poem and explanation. It helps a lot. In a few words, a poet expresses such profound thoughts that listening to them is simply a great feeling. I feel that we can read prose by ourselves and our imagination can play an important role in understanding the content; poetry is difficult to grasp by common folks like me.

There was session by Ms. Margaret Alva and Mr. Faizal Devji on 'Flashpoint 2015 - Global disorder'. Ms. Alva's forthright views and Mr. Devji's intellectual analysis were interesting.

An exhibition of paintings by artists from Goa mostly was held in the covered corridors of International Centre. I felt it was a brilliant idea. You walk along a row of beautiful art every time you pass through the corridor! Very enriching!

Mr. Mayank Austen Soofi's photographs of Delhi from his blog, Delhiwalla, were displayed. They were printed on muslin cloth and hung as screens. The exhibition of prints was by Ms. Anna Gerrotto, a textile designer from Italy. The everyday life from a metropolis is brought into the realm of colour, light and words.. proves, they can intermingle and art and literature are not the prerogative of the elite few..

Haven for book lovers and readers, an exhibition and sale of books at the venue!

Oh, what a treat it was to listen to and jump and shake a leg to the music of Mr. Lou Majaw, an accomplished singer from North east, belting our Bob Dylan's songs! The evening entertainment was a huge success..
In hind sight, we can say that the program could have had more prominent, well known, and celebrity names in the list of speakers, but all those participated were nothing less than great. It was a 4 days extravaganza of beautiful, at times, touching words, art and music. I look forward to this time of the year every year. Must say, my favorite sessions were those on poetry; what a treat!
Beautiful place like International Centre, with its sprawling buildings and lawns, overlooking the sea, a great location, great December weather, to see the writers in flesh and interact with them was a never-to-be-missed opportunity to all!

Reserve Bank of India Notifications - 4

Continuation from the previous post: Reserve Bank of India Notifications on Demonetisation - 3 

November 24, 2016

Cash requirements of pensioners and Armed Forces Personnel

29.   Banks are therefore advised to take appropriate steps in order to meet this likely demand for cash by: 

(i) Ensuring adequate cash availability for taking care of the requirements of pensioners 

 (ii) Ensuring adequate supply at the military outposts for the cash requirements of the Armed Forces personnel.

30.    Discontinuation of over the Counters Exchange of SBN:

On a review it has since been decided that no over the counter exchange (in cash) of SBNs will be permitted after midnight of November 24, 2016.Members of public who approach the banks for over the counter exchange of SBN may be encouraged to deposit SBNs into their bank accounts.

Banks may ensure to facilitate opening of new accounts for unbanked people. 

November 25, 2016

31.   Exchange facility to foreign citizens:

In supersession of instructions issued therein, it has been decided that foreign citizens (i.e. foreign passport holders) can exchange foreign exchange for Indian currency notes up to a limit of ₹ 5000/- per week till December 15, 2016 subject to the tenderer submitting a self-declaration that this facility has not been availed of during the week. The Authorized Person shall keep the passport details and the above declaration on record. Authorized Person may also ensure that the total value of such exchange to Indian currency notes does not exceed ₹ 5000/- during the week.

November 26, 2016 

32.Withdrawal of cash from bank deposit accounts - Relaxation

It has been reported that certain depositors are hesitating to deposit their monies into bank accounts in view of the current limits on cash withdrawals from accounts.
As it is impeding active circulation of currency notes, it has been decided, on careful consideration, to allow withdrawals of deposits made in current legal tender notes on or after November 29, 2016 beyond the current limits; preferably, available higher denominations bank notes of ₹ 2000 and ₹ 500 are to be issued for such withdrawals.
 November 30, 2016 

33. Accounts under PMJDY - Precautions

 With a view to protect the innocent farmers and rural account holders of PMJDY from activities of money launders and legal consequences under the Benami Property Transaction & Money Laundering laws, it has been decided to place certain limits, as a matter of precaution, on the operations in the PMJDY accounts funded through deposits of Specified Bank Notes (SBNs) after November 09, 2016. As a temporary measure, the banks are advised to observe the following in respect of the PMJDY accounts:

1. Fully KYC compliant account holders may be allowed to withdraw ₹ 10,000/- from their account, in a month. The branch managers may allow further withdrawals beyond ₹ 10,000 within the current applicable limits only after ascertaining the genuineness of such withdrawals and duly documenting the same on bank’s record.
   
2. Limited or Non KYC compliant account holders may be allowed to withdraw ₹ 5,000 per month from the amount deposited through SBNs after November 09, 2016 within the overall ceiling of ₹ 10,000.
   

Reserve Bank of India Notifications - 3

Continuation from the previous post: Reserve Bank of India Notifications on Demonetisation - 2 
 

November 21, 2016

22. Additional Facilities in terms of which current account holders (applicable to Current Accounts which are operational for last three months or more) were allowed to withdraw up to ₹ 50000 in cash, in a week. On a review, it has been decided to extend this facility to Overdraft and Cash Credit accounts also. Accordingly, holders of current / overdraft / cash credit accounts, which are operational for the last three months or more, may now withdraw upto ₹ 50000 in cash, in a week. This enhanced limit for weekly withdrawal is not applicable for personal overdraft accounts.

Such withdrawals may be disbursed predominantly in ₹ 2000 denomination bank notes.

23. Cash withdrawal for purpose of celebration of wedding 

      With a view to enable members of the public to perform and celebrate weddings of their wards it has been decided to allow higher limits of cash withdrawals from their bank deposit accounts to meet wedding related expenses. Yet, banks should encourage families to incur wedding expenses through non-cash means viz. cheques /drafts, credit/debit cards, prepaid cards, mobile transfers, internet banking channels, NEFT/RTGS, etc. Therefore, members of the public should be advised, while granting cash withdrawals, to use cash to meet expenses which have to be met only through cash mode. Cash withdrawals shall be subject to the following conditions:

i. A maximum of ₹ 250000/- is allowed to be withdrawn from the bank deposit accounts till December 30, 2016 out of the balances at credit in the account as at close of business on November 08, 2016.

ii. Withdrawals are permitted only from accounts which are fully KYC compliant.

iii. The amounts can be withdrawn only if the date of marriage is on or before December 30, 2016.

iv. Withdrawals can be made by either of the parents or the person getting married. (Only one of them will be permitted to withdraw).

v. Since the amount proposed to be withdrawn is meant to be used for cash disbursements, it has to be established that the persons for whom the payment is proposed to be made do not have a bank account.

vi. The application for withdrawal shall be accompanied by following documents:

Evidence of the wedding, including the invitation card, copies of receipts for advance payments already made, such as Marriage hall booking, advance payments to caterers, etc. A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account. The list should indicate the purpose for which the proposed payments are being made.

November 22, 2016

24. Making cash available for Rabi Crop Season – Advisory to banks
As you all are aware the Rabi crop season has already commenced and it is imperative that farmers are adequately supported financially to ensure unhindered farming operations.
It is estimated that about ₹ 35,000/- crore would be required by the DCCBs for sanction and disbursement of crop loans to the farmers at the rate of ₹ 10,000/- crore per week. NABARD would be utilizing its own cash credit limits up to about ₹ 23,000 crore to enable the DCCBs to disburse the required crop loans to PACS and farmers.
25. Cash withdrawal for purpose of celebration of wedding – Modification
As many of these loans will be disbursed in cash to facilitate farming related expenses, we advise in this regard that banks with currency chests should ensure adequate cash supply to the DCCBs and RRBs. Adequate cash supply should also be ensured for rural branches of all commercial banks (including RRBs). Further, bank branches located in APMCs may also be given adequate cash to facilitate smooth procurement.
It has been decided to modify the instructions contained in paragraph 2 vi (c) of the aforesaid circular, as under:

A detailed list of persons to whom the cash withdrawn is proposed to be paid, together with a declaration from such persons that they do not have a bank account, where the amount proposed to be paid is ₹ 10,000/- or more. The list should indicate the purpose for which the proposed payments are being made.

 November 23, 2016 

26. Deposit of specified banknotes (SBN) in Small Savings Schemes

We advise that Government of India has decided that subscribers of Small Savings Schemes may not be allowed to deposit SBNs in Small Savings Schemes. Banks are, therefore, advised not to accept SBNs for deposits in Small Saving Schemes with immediate effect.

As you all are aware the Rabi crop season has already commenced and it is imperative that farmers are adequately supported financially to ensure unhindered farming operations. It is estimated that about ₹ 35,000/- crore would be required by the DCCBs for sanction and disbursement of crop loans to the farmers at the rate of ₹ 10,000/- crore per week. NABARD would be utilizing its own cash credit limits up to about ₹ 23,000 crore to enable the DCCBs to disburse the required crop loans to PACS and farmers. As many of these loans will be disbursed in cash to facilitate farming related expenses, we advise in this regard that banks with currency chests should ensure adequate cash supply to the DCCBs and RRBs. Adequate cash supply should also be ensured for rural branches of all commercial banks (including RRBs). Further, bank branches located in APMCs may also be given adequate cash to facilitate smooth procurement.