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Bank of Maharashtra to sell Rs.500 crore NPAs

The Union Finance Minister, Shri Pranab Mukherjee opening the Bank’s 1500th branch at Gangtok, Sikkim at the Concluding Ceremony of Platinum Jubilee Celebrations of the Bank of Maharashtra, in New Delhi on September 16, 2010. The Chief Minister of Maharashtra, Shri Ashok Chavan, the Minister of State for Finance, Shri Namo Narain Meena, the Minister of State for Communications & Information Technology, Shri Sachin Pilot and the CMD, Bank of Maharashtra, Shri Allen C A Pereira are also seen in the picture.

Kolkata: Bank of Maharashtra on Wednesday said it is planning to sell nearly Rs.500 crore of its bad loans to asset reconstruction companies (ARC) by the end of September this year.



“By September, we have planned to sell Rs.500 crore of our non-performing assets (NPA) to ARCs and we need to be more aggressive on this,” the bank’s chairman and managing director Sushil Muhnot told media persons here on the sidelines of the FICCI Banking Conclave. A non-performing asset does not yield any income to the lender in the form of principal and interest payments.

While the amount to be sold will fall under the first tranche of the bank’s NPA sales, it has targeted shedding of another Rs.1,000-1,500 crore of these in the ongoing fiscal year. “However, it (total NPA sales) will depend on the success of the sales as projected in September,” the official said. In case the bank is unable to meet its Rs.500 crore NPA sales target, the second tranche will also hover around Rs.500 crore, Muhnot said. The public sector lender had sold Rs.200 crore of NPAs during 2014-15.

In the bank, the gross past dues of loans in the first quarter of the current fiscal year stood at 7.86 percent at Rs.7,574.86 crore. However, in case the financial institution is able to meet the target, the loans facing jeopardy of default may decline to 5.5-6 percent. Muhnot is hoping to grow the bank’s advances business by 12 percent and the deposits business by 14-15 percent in 2015-16.


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National Book Trust (NBT) Chairman: Nurturing Creativity and Innovation in Children at an Early Age are Much Needed

How should current school curriculum be modified for an overall development of Children?

Nurturing creativity and innovation in children
Nurturing creativity and innovation in children. Pixabay
  • Education should work in the direction of expanding the horizon of knowledge children
  • There is a need to shift educational learning for school goers from content mastery to competency mastery
  • To compete with the children worldwide, they need to have an understanding that is beyond books

New Delhi, August 21, 2017: There is a need to look beyond the world of text books and inculcate in children qualities like empathy towards society, humanity, sensitivity towards other human beings and nature.

Baldeo Bhai Sharma, Chairman of National Book Trust (NBT), talked about nurturing creativity, innovation in young minds for nation’s economic and spiritual development.

He was speaking at the FICCI’s first-ever Children’s Publishing Conclave called ‘Scrapbook’. Mr. Sharma said that it is crucial to observe and spot the creativity in children. To not just bound them to the school curriculum. The Supplementary books in school should teach them about the life lessons, that they should be good human beings. Such books will help them in the developing a good and positive personality; it will also strengthen their thinking and imaginative skills.

ALSO READ: 11 Facts about Education System Around the World: Do they prove to be Beneficial for Children?

In the conclave, he talked about how brave soldiers can inspire kids to be like that when they grow up and fight for their country someday. If not, even then such books will inculcate a feeling of patriotism in them. According to ANI reports, Mr. Sharma (pointing towards NBT’s efforts) said, “‘The Veergatha’ series had been introduced by NBT, which talks of the great acts of bravery by Indian soldiers.” The first series has a set of 5 books in English and Hindi, they are written so as to inspire the young minds and evoke feelings of patriotism in children from an early age.

Children are sometimes overburdened with books.  UNESCO encourages learning in mother tongue, especially at the early stage.  Sharma said that education should work in the direction of expanding the horizon of knowledge in a child and he agrees with UNESCO that teaching a child in mother tongue should be encouraged to retain cultural values.

Dr. Hrushikesh Senapaty, Director of NCERT, said: “There is a need to shift educational learning for school goers from content mastery to competency mastery, where competencies should be classified into character, intellectual and social.” He stressed upon the need to make the classroom environment vibrant where teachers would play the role of a facilitator- will provide them with an opportunity where they can develop and strengthen their competencies as well as communication ability. He added, “The Indian education system is moving from knowledge construction to knowledge processing with the help of technology, enabling children to explore, innovate and create.”

ALSO READ: Ragas for Preschool Children: Combining Classical Music with Fun Exercises

Appreciating FICCI’s initiative, Dr. Senapaty said that the goal of this publishing conclave is to produce content which is rich in quality and is innovative. It will enable them to learn in a collaborative environment. He added, “Indian children have performed well when they follow a prescribed school curriculum but to compete with the children worldwide, they need to have an understanding that is beyond books and focus on skills like building their applied knowledge.”

Children should explore, innovate and create
Children should explore, innovate and create. Pixabay

Ms. Urvashi Butalia, Chairperson, FICCI Publishing Committee and Director, Zubaan, said that the conclave focused on:

  • promoting book reading amongst young minds
  • government and children’s publishers- enhance learning outcome in educational space
  • policy advocacy- nurture collaboration between schools
  • addressed- gender misrepresentation in children’s books
  • concerns- children’s content in school books
  • implementing theory of multiple intelligence on children’s content- enhance learning outcome
  • changing role of technology in children’s content and its impact on K-12 (kindergarten (K) and the 1st -12th grade) education

Dr. A. Didar Singh, Secretary-General, FICCI, said that this platform will help to explore possible collaboration between children, content creators, offline and online service providers, publishers, technology disruptors, schools, teachers, parents, and policymakers. The conclave focused on the important aspects like learning requirements of an individual child, crucial role publishers can play to address it.

The conclave also had some interesting workshops for school children. The workshops had activities like creative writing, story-telling and received appreciation from the young minds.

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