Tag: India
Travancore Federal Bank was the name of Federal Bank of India when it was established in the year 1931. It was inaugurated at Nedumpuram near Tiruvalla Kerala (Tiruvalla is situated south of Kottayam). It had 14 founders with Sri Oommen Varghese as the Chairman and Sri Oommen Chacko as its Manager. It functioned successfully for 10 years and then stopped all of a sudden due to health problems of the Manager Sri Oommen Chacko.
Then a Lawyer of Perumbavoor took the charge and managed it efficiently. The name of the Lawyer was K.P.Hormis. later in the year 1945 K.P. Hormis also became the Managing Director and shifted its Headquarters to Aluva. In the year 1947 the name of the bank was changed to Federal Bank. In the year 1970, it became a Scheduled Commercial Bank. After a series of mergers and acquisitions including banks at Chalakudy, Thrissur, Alleppey, Puthenpally, Thiruvananthapuram, and Kurundwad, Federal Bank became even bigger with larger financial turnovers.
It is one of the largest private sector banks and the prominent one amongst the old private group of Indian banks.
PRESENT STATUS:
Now the bank has its Headquarters at Aluva, near Kochi in Kerala. It is presently running 743 branches across 24 states in India. It now has 803 ATM’s across India. Of these 803 ATM’s there are 108 in Metro Centres, 224 in Urban Centres, 384 Semi-Urban and 87 in rural areas. There has been several high-profile sponsorships and other modes of advertisement including the title sponsorship of the popular Indian cricket franchisee Kochi Tuskers Kerala of the Indian Premier League or IPL. It is also the fourth largest bank right now in India in terms of capital base and is also listed in the London Stock Exchange in addition to the Indian stock markets Bombay Stock Exchange and National Stock Exchange.
ACHIEVEMENTS AND AWARDS:
The Federal bank of India has received many awards during its long journey since 1931 till now. Some of them are:
1. The banking technology Excellence Award for the year 2010-2011.
2. The Excellence Award for Second best bank among traditional private sector banks in Kerala.
3. The Great Mind Challenging Award for implementing the most innovative solution in Business.
4. Ranked number one in Economic Times Intelligence Group Survey.
SERVICES OFFERED:
The bank renders the following services:
1. Savings Bank Account.
2. Current Account.
3. Loans.
4. Deposits.
5. Debit Cards.
6. Fund Transfer.
7. Inward Remittance.
8. Online Bill Collection.
9. Bank Guarantee.
10. cash Management.
11. Demat Accounts.
12. Federal Pure Gold.
13. Gift Accounts.
14. Mutual Fund.
15. Safe Deposit Lockers.
16. NRI Banking Services.
17. Merchant Banking.
18. ASBA.
19. Visa Bill payment.
20. Master Card Secure Code.
21. Verified By Visa (VBV).
22. Online Tax Payment.
23. Mobile Banking -FedMobile.
24. Internet banking -FedNet.
25. Corporate FedNet.
LOANS:
It also gives Loans for various purposes like: Business, Agriculture an Rural, Housing, Educational, Travel, Personal, Car, Medical and Home Loans.
WORKING HOURS:
The Bank runs from morning 9 to evening 4 from Monday to Saturday. Sunday is a holiday. The Bank is closed on Public holidays. the timings are different for its Abu Dhabi Branch which works from 9 AM to 5:30 PM and this branch also works on Sunday.
India is primarily an agriculture country dating back to more than ten thousand years. Today, India ranks the second largest in agricultural output worldwide. Agriculture contributes approximately 33 percent of the Gross Domestic Product and round about 70 percent of Indian population is engaged in agriculture sector. Most of the agricultural outputs including wheat, tea, coffee, cotton etc are exported to foreign countries contributing about 8.56 percent of India?s exports. About 43 per cent of geographical land is used for agricultural activity. India accounts world?s number one country in sugarcane and stood second rank in rice output.
Modern Agricultural Techniques:
With years of practice in agriculture there have been new inventions and modern techniques adopted by farmers in agriculture To spread and encourage knowledge of agriculture among the youth generation, government has even launched new programmes and courses with specialization in agriculture Modern Agricultural comprises of improved farming techniques and the using of irrigation and high-yield grains resulting into increased production. The main drawback is being the inadequate monsoon, which accounts a crucial role in influencing agricultural production in India since most of the cropped area even now does not have any assured irrigation. Although measures are being undertaken by government authorities to eradicate the inadequacy of monsoon by introducing water dams and river project for effective irrigation.
In fact, India is facing the biggest challenge of producing enough food grains to cater the increasing population of India. Hence measures are been taken to expand farmland area and with quality grains the farmers are now able to produce double output in the same amount of land.
Farmers have adopted modern improved irrigation techniques that have the potential to increase agricultural production with improved farming techniques in areas that rely on monsoon also could improve yield. Moreover, improving the use of fertilizer, especially on rain fed land, also would help to increase the production. Government of India is trying a variety of plans and strategies with sophisticated water management techniques replacing the traditional farming practices.
Indian agriculture is the backbone of the country. For efficient farming, Agricultural Implements are very important. Agriculture is not only limited to quality farming but has to satisfy the large market demands because of the immense increase in the population of India. Indian agriculture industry is able to cater to the needs of Indian population owing to the advanced Agricultural Implements. Agricultural Implements have high importance in Indian farming as technology has become an inseparable part of this sector.
Agricultural Implements & Their Uses
The biggest problem in agriculture was the threat of pests. And it was really hard to control pests over vast farmed areas. But with the help of Agricultural Sprayers, pest control has become a short and easy task. And for every specific requirement there is a specific type of Agricultural Sprayer available in the market.
Harvesting was also a time taking process before the introduction of Harvesters. Different types of crops can be very efficiently cut with the use of different hi-tech Harvesters within a short time period.
Weeds always grow around and in the farm land. That is why Weeders of various types are required to keep the growth of weeds at bay. Brush Weed Cutters are widely used Agricultural Implements for the cutting of weeds.
Numerous crops are marketed in shredded form. And shredding of specific crops is best done by implements like Electric Chipper Shredder, Coconut Leaves Shredder, etc.
Tea Harvesting Machine is a special type of Agricultural Implement that is used only for farming tea. With the help of the Tea Harvesting Machine, tea farming has become quite an economic process.
In todays world, agriculture industry cannot do without the help of Advanced Agricultural Implements, if it has to match up with the international standards. Are you looking for a reliable manufacturer of Agricultural Implements? Given below is a one stop solution to your all types of needs of Agriculture Implements.
Based in Tamil Nadu, India, Maax Engineering is a leading Manufacturer, Exporter, Importer and Supplier of Agriculture Instruments .
CII today organized a Seminar on Reforms in the APMC (Agricultural Produce Market Committee) Act , and its impact in the Southern States. This is an initiative of the Agri Business Sub-Committee, CII-Southern Region. Speaking at the occasion, Mr. Shankarlal Guru, Chairman-International Society for Agricultural Marketing said Agricultural sector is in urgent need of reforms by the respective State governments to help drive the economy to a higher growth rate that is expected by the policy makers, but a comprehensive agenda for reforms in this crucial sector is yet to emerge. Hence, the need for Agriculture to be made a central subject and not a state subject, thus alienating it from politics, said Mr. Guru. Contract farming should be encouraged as it will help bring technology and modern practices into the agriculture sector – opined Mr. Guru.
The APMC Act in each state of India requires all agricultural products to be sold only in government – regulated markets. These markets impose substantial taxes on buyers, in addition to commissions and fees taken by middlemen, but typically provide little service in areas such as price discovery, grading or inspection. A key impact of this regulation is the inability of private sector processors and retailers to integrate their enterprises directly with farmers or other sellers, eliminating middlemen in the process. Farmers also are unable to legally enter into contracts with buyers. This leaves no incentives for farmers to upgrade, and inhibits private and foreign investments in the food process sector.
Also addressing the audience was Mr. Sivakumar, Chairman Agri Business Sub-Committee, CII-Southern Region and Chief Executive – Agri, ITC Ltd. Said that Agri business in India is at a transition point. Having sailed through the shortage economy to an economy with surplus in grains, it is important that Governments at the Centre and State recognize the need for inclusive growth to take agriculture forward in India. Setting the context for the day’s discussion, Mr. Sivakumar emphasized that in spite of employing about 57% of the population of the country, agriculture on contributes 27% to the GDP of India. This distortion makes agriculture not a lucrative employment generator and hence, keeping with the global view, India needs to carve out opportunities in agri-exports sector. Contract farming and direct marketing to retail chains and processing units are the need of the hour he said.
Regulations to keep pace with these needs are required, which need alternative marketing mechanisms. Hence, reforms in the APMC Act are recommended in various fields, he added.
Making a presentation on “Aligning State Policies with emerging new marketing models”, Prof. S Raghunath from the Indian Institute of Management-Bangalore, emphasized the need for an effective and efficient distribution system for agri-produce and provision for supply-demand transparency. Since the main objective of the APMC Act was to prevent exploitation of farmers by various intermediaries, reforms were required in the Act, with changing face of agriculture and the agricultural supply chain, opined Prof Raghunath. India is the largest producer of vegetable in the world, with a total share of 15% of global produce. 8% of world’s fruits are produced in India, ranking it second in the world market. In spite of this, there is a high cumulative wastage of 40% in India, informed Prof. Raghunath. Inadequate infrastructure and lack of organized supply chain were the main cause for such a disparity, he said. Thus, reforms in this sector need to catch up with the pace of development in the economy and dis-intermediation and participation of organized players in the sector will remove the lacunae, opined Prof. Raghunath.
Centre asks states to amend APMC Act
In a move to allow farmers to directly sell their produce to industry, contract farming and setting up of competitive markets in private and cooperative sector, the Centre has asked the state government to amend the Agricultural Produce Marketing Act.
Under the present Act, the processing industry cannot buy directly from farmers. The farmer is also restricted from entering into direct contract with any manufacturer because the produce is required to be canalised through regulated markets. These restrictions are acting as a disincentive to farmers, trade and industries.
The government has recently approved a central sector scheme titled Development/strengthening of agricultural marketing infrastructure, grading and standardisation.
Under the scheme, credit linked investment subsidy shall be provided on the capital cost of general or commodity specific infrastructure for marketing of agricultural commodities and for strengthening and modernisation of existing agricultural markets, wholesale, rural periodic or in tribal areas.
The scheme is linked to reforms in state law dealing with agricultural markets (APMC Act). Assistance under the new scheme will be provided in those states that amend the APMC Act.
The Centre has asked the state governments to inform as to whether necessary amendments to the APMC Act have been carried out, in order to notify the reforming states for applicability of the scheme.
Along with the Centre, the industry is also interested in the amendment to the APMC Act as it restricts the growth of trade in agricultural commodities.
The policy regime pertaining to internal trade is particularly restrictive. The agricultural sector continues to be hamstrung by a plethora of controls, which were introduced during the era of shortages, said the PHDCCI.
Meanwhile, a decentralised system of procuring wheat and rice would make the Public Distribution System more cost effective, the government has said.
India is a land of traditions and beliefs. Indian tradition is very much found of scriptures and mythology and also of art & literature, painting & folklore. India is the country where 60% of the wealth comes from farming. Agriculture and farming are the only two aspects which gives the Indian farmers health and wealth. It plays a very vital role in the economy of the country as it is the only practice which the farmers can do as it can be done on large as well as on small scale.
The word agriculture is short but its need is very vast as it plays a great role on different aspects of our lives. It provides the foundation through which people survive through the provision of food to both humans and their animals. Without agriculture, chances of survival would be minimal as both people and livestock would die out of starvation. As a result of this, agriculture has gained interest among many people, ordinary, policymakers and even researchers due to its important contribution to humanity.
Farming is done in three different categories such as Primitive Farming, Intensive Subsistence Farming, and commercial Farming. As the name suggests primitive subsistence farming is done on a small piece of land with the help of the small farming tools such as hoe and digging sticks including the family members as the labours and sometimes the community members play the part of the labours. Intensive Subsistence farming is done on high intensive area and a huge land with the help of the huge labour intense and high doses of biochemical fertilizers with the help of spraying machines and with the advanced agriculture tools and machines for the higher productivity. Commercial Farming uses the higher doses of fertilizers, high yielding variety seeds, pesticides and insecticides for the higher productivity
Agriculture industry is the basic need for many other industries such as food industry, ecosystem, and the main which is economic sector. Any country in the world that wants to be stable must provide its citizens with the food supplements. Through the different agricultural practices that are there, agriculture is the main source through which countries are able to feed their people. Through crop and livestock production, we are able to get food which is rich in nutrients needed by our bodies. As a result of agriculture, people are able to live free from deficiency diseases.The extent of destruction is influenced by the activities going on in a particular ecosystem. As population grows, more land and forests are now being cleared to create space for agricultural activities.