It is an irony that Indian economy grew at about 9% per annum during the period 2004-09, the first term of UPA Govt. at the centre, but it could generate only one million jobs, whereas during the preceding five years, the rate of GDP growth was although relatively lower, yet it generated 58 million jobs.

In 1933, the legendary hockey player Dhyan Chand was playing a match in Rawalpindi, now in Pakistan. The match was between Dhyan Chand's team '14 Punjab Regiment Team' and 'Sappers & Miners Team'. From the beginning, Dhyan Chand mesmerized the spectators by his splendid game which however, was not liked by the opponent team's Centre half and out of sheer desperation; he played foul and injured Dhyan Chand. Everybody was surprised and angry. The game was stopped for a while.

Latest media reports suggest that the government is contemplating to increase over Rs 3-5/- per litre the market price of petrol and diesel after the end of monsoon session of parliament – together it constitute more than 75% of total petroleum consumption in the country.

Notwithstanding few sporadic measures being taken at the level of central government and by few state governments to address sanitation related problems, albeit belatedly, no one can deny the fact that the impact of deplorable state of sanitation over the decades has been many and multi-dimensional on health and hygiene of common Indians and also on the country's much talked about stories of 'economic prosperity' in terms of GDP growth rate.

Only a few days back from today - the 44th anniversary of the most momentous event in Indian Banking - Bank Nationalisation of 14 major Banks on 19th July, 1969 by the then Union Govt. headed by Prime Minister Smt. Indira Gandhi, Reserve Bank of India (RBI) penalized some known big public sector banks like State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Indian Overseas Bank and United Bank of India for violating KYC/AML anti-money laundering norms.

The major reforms in Indian Banking space, of course after nationalisation of 14 Banks in 1969, was based on the recommendations of Narasimhan Committee (1991). Important initiatives, such as putting in place the concept of new accounting and prudential norms relating to Income Recognition, Provisioning and Capital adequacy in line with international banking practices, were taken.

With downpour of monsoon rains in a geographically diverse and second most populous country of the world – India, the agricultural activities commence in full swing in rural areas. As the monsoon progresses with moderate to heavy rainfall across the length and breadth of this vast country, reports do start pouring in about the deteriorating flood situation usually in states like UP, Bihar, West Bengal, Assam and Orissa, to name a few.

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