PRESS CONFERENCE on AUGUST 10, 2011at TISS

 TATA INSTITUTE OF SOCIAL SCIENCES

CENTRE FOR LIFELONG LEARNING

In Collaboration with Joint Action Committee for

“Senior Citizens' National Solidarity Day on August 16, 2011

Announces a Press Conference On

10th August 2011

Venue: TISS Convention Centre Lobby, Naoroji Campus, Deonar Farm Road,Mumbai.

When it comes to intentions and practice, especially with senior citizens in India it raises a big question. Despite the fact that the NPOP (National Policy for Older Persons) was adopted by the country as far back as 1999, the neglect by the State and Central Governments and the entire bureaucratic systems in the tardy or non- implementation of policies and ignoring the welfare of the senior citizens is most obvious.

In response to this injustice and neglect, last year 16th August was observed as a National Protest Day by the senior citizens and their associations. As a result of nationwide activity last year, there has been some semblance of positive action from the central government like concessions in Income Tax structure, Railway  fares, quantum of Old Age Pension, eligibility criteria for concessions  etc. However, most State governments are yet to wake up and respond. They continue to be indifferent towards the problems and concerns of senior citizens by not implementing welfare schemes like Indira Gandhi National Old Age Pension Scheme (IGNOPS) and The Maintenance and Welfare of Parents And Senior Citizens Act (MWPSC). Hence through the activities on August 16, this year the focus of attention is to demand that state governments fulfill their commitments. Hence to keep up the momentum gained, it has been decided to observe 16th August 2011 as SENIOR CITIZENS NATIONAL SOLIDARITY DAY all over India. As last year Centre for Lifelong Learning, reiterates its support for the ‘Senior Citizens' National Solidarity Day’ by organizing a press conference on10th August 2011.

We appeal to all of you to be part of the press conference to express your support for the cause of rights of senior citizens.

CLL Team

ADULTHOOD AND MATURITY

I know of no greater fallacy, nor one more widely believed, than the statement that youth is the happiest time of life.

              

As we advance in years, we grow happier if we live intelligently. The universe is spectacular, and it is a free show. Difficulties and responsibilities strengthen and enrich the mind. To live abundantly is like climbing a mountain or a tower.

To say that youth is happier than maturity is like saying the view from the bottom of the tower is better than the view from the top. As we ascend, the range of our views widens. The horizon is pushed farther away. Finally, as we reach the summit, it is as if we had the world at our feet.

William Lyon Phelps, Autobiography with Letters. New York: Scribner 1939.

RBI asks banks to implement senior citizens scheme strictly

RBI asks banks to implement senior citizens scheme strictly


Mumbai, June 10 (PTI)

The Reserve Bank today asked banks to strictly implement a government order mandating them to give 9 per cent interest on a saving scheme for senior citizens and retired defence personnel.

RBI has found that some of the banks do not implement Senior Citizens Savings Scheme - 2004(SCSS), particularly in case of retired army personnel and have denied the facility of SCSS to some of them in contravention of the instructions ibid.

"We, therefore, reiterate that you may strictly adhere to the instructions issued vide our above circular and ensure extending the benefits of the scheme to retired army personnel also, if otherwise found in order,"the RBI said in a notification.

The scheme can be availed by people of 60 years or above. However, persons retiring from defence services are given a relaxation of five years in age availing this scheme.

The scheme is operated through all branches of public sector banks which are operating PPF Scheme.

Under the SCSS, the deposit made will earn an interest rate of 9 per cent per annum and interest is paid on quarterly basis.

In another notification, RBI allowed banks to continue practice of keeping aside 5 per cent of the restructured accounts by their rural branches for another two years.

This facility was given to back rural branches which lacked expertise or appropriate infrastructure to ensure computation of diminution in the fair value of advances extended by their small or rural branches.

Such banks were given the option of notionally computing the amount of diminution in the fair value and providing therefor at 5 per cent of the total exposure in respect of all restructured accounts where the total dues are less than Rs 1 crore till the financial year ending March 2011.

"On a review, it has been decided. (it) will remain applicable.Till the financial year ending March 31, 2013,"the Central bank said.