The Nationalization of Banks The Nationalization of Banks in 1969 has been one of the significant economic, political and

social events of Post Independent India. Apart from the fact that it had the imprint of the personality of Mrs. Indira Gandhi, it has several significances which merit attention. In the case of Bank Nationalization initially 14 major banks were taken over and subsequently 5 were added taking the total to nineteen. A major objective of the nationalization of commercial banks (CBs) in 1969 was to improve the access of the rural households, particularly the rural poor, to institutional credit and to reduce their dependence on informal sources of credit. To ensure that the relatively weaker section have access to credit, the Reserve Bank of India (RBI) stipulated that at least 40 per cent of the advances of the CBs should be earmarked for the priority sectors as defined by it (18 per cent as "direct" loans for agriculture and 10 per cent as advances to weaker sections). Benefits of Nationalization of Banks: The first one was the intervention of the state in the functioning of the banking sector itself. The ownership of the State gave a new confidence to the savers and being backed by a sovereign the normal suspicions associated with the capabilities of the bankers in the private sector were gone. 2. Banking ceased to be selective. The entry barriers that existed for customers to bank, social economic and political were lowered. This resulted in a massive quantitative expansion of the bank customer base as well as in the nature of services provided. 3. The reach of banking widened. Absence of concern for profitability and targeting made banks to expand rapidly in un-banked areas thereby the entire country was linked to banking activity. 4. The expansion of banks also expanded the economy. The entire infrastructure that required was built by themselves or by the citizens for their use. 5. A large employment base was created. Young men and women mostly from middle and poorer sections of society but qualified with the requisites

got into the banking system and we see the results today. 6. Customers got acquainted with banking practices faster than it would otherwise have taken. 7. The well intentioned policies channeled through the banks helped the borrower clientele with a generous disposition. 8. The savings of the community had an efficient channel which otherwise would not have had the benefit of aiding transactions. 9. State intervention to some extent distorted the banking sector. The domination of the State has had a negative effect on the contribution of the banking sector as a whole to the economy. Absence of profitability, nonrealization of its potential as a business and also the deterioration in service has all affected citizens. 10. The intervention by the State and excessive domination and intervention by the bureaucracy and polity into the functioning of banks has led to deterioration on economic efficiency, which runs counter to the principles of a good Government. Therefore now there is definitely a need for a new look at the banking sector as a whole and introduce a series of steps policy, organizational, systemic and technology to restore banking. Here are a few suggestions: 1. Scrap the Bank Nationalization Act and convert all banks into publicly held companies. The degree of public shareholding does not matter. Whether it is 99.7% or 5% it would be decided with due process. 2. Then it becomes a pure investment by the Government of India and ideology has nothing to do with the ownership. 3. Public ownership should be defined and spread as far and wide as possible with the issue at normal prices and not with extraordinary pricing. 4. The Government and the Banking division should focus on banking issues

for the whole economy. The ownership element should be transferred to a separate investment agency under the cabinet secretariat. 6. The Government and Banks should pay more attention to integration that is vital in a modern economy: clearing services, inter bank activities, making the outside service providers like telephone, computer services, couriers, postal system accountable as well as to ensure a continuous effort towards excellence. 7. Attention to assets that is loans and investments than liabilities that is deposits. 8. Having a close look at interest rate policy, which in my opinion is more crucial in ensuring profitability. 9. Targeting 2 per cent return on assets thereby resulting in a profitability of Rs. 25,000 Crores and become taxpayers for the country. 10. Ensuring that bad loans do not occur in the first place, in the event they occur they should not be on account of internal failures but due to externalities and even they occur due to externalities to deal with such situations swiftly. Cooperate towards working to a sound legal and justice system that protects rights and that are the rights of Banks as corporates, who work for protecting the interests of citizens (who keep their savings with them) and not for someone else. The dishonesty, corruption, bribery, sloth, inefficiency, procrastination, obstruction, heedlessness that mark todays service in entirely or in parts should give way to excellence and goodness, probity and safety. Most important it should symbolize integration without which there would be no gains in economic efficiency. Travel & Tourism Tourism in India is the largest service industry, with a contribution of 6.23% to the national GDP and 8.78% of the total employment in India. India witnesses more than 17.9 million annual foreign tourist arrivals and 740 million domestic tourism visits. The tourism industry in India generated about US$100 billion in 2008 and that is expected to increase to US$275.5

billion by 2018 at a 9.4% annual growth rate. In the year 2010, 17.9 million foreign tourists visited India. Majority of foreign tourists come from USA and UK. Maharashtra, Tamil Nadu, Delhi, Uttar Pradesh and Rajasthan are the top 5 states to receive inbound tourists. Domestic tourism in the same year was massive at 740 million. Andhra Pradesh, Uttar Pradesh, Tamil Nadu and Maharashtra received the big share of these visitors. Ministry of Tourism is the nodal agency to formulate national policies and programmes for the development and promotion of tourism. In the process, the Ministry consults and collaborates with other stakeholders in the sector including various Central Ministries/agencies, the State Governments/ union Territories and the representatives of the private sector. Concerted efforts are being made to promote new forms of tourism such as rural, cruise, medical and eco-tourism. The Ministry of Tourism is the nodal agency for the development and promotion of tourism in India and maintains the Incredible India campaign. According to World Travel and Tourism Council, India will be a tourism hotspot from 20092018, having the highest 10-year growth potential. The Travel & Tourism Competitiveness Report 2007 ranked tourism in India 6th in terms of price competitiveness and 39th in terms of safety and security. Despite short- and medium-term setbacks, such as shortage of hotel rooms, tourism revenues are expected to surge by 42% from 2007 to 2017. India's 5,000 years of history, its length, breadth and the variety of geographic features make its tourism basket large and varied. It presents heritage and cultural tourism along with medical, business and sports tourism. India has a growing medical tourism sector. The 2010 Commonwealth Games in Delhi are expected to significantly boost tourism in India.

Education for All The 86th Constitution Amendment Act, 2002 makes elementary education a fundamental right amending section 21 and mandates free and compulsory education for all children in the age group of 6-14 years. This very fact broadens scope of vision of Education for All Project Board.

The children who are in age group of 6-14 years must not roam on roads and streets but they must be seen in the school premises. A school going child should not work as porter on railway stations, as domestic servants in houses, as servants in hotels and shops, the girl child should not remain in houses to look after the siblings, helping parents in house chores and lending help in agriculture fields. In fact, a school going age child should remain in the school with cheerful mind and should study and play. The children of disadvantaged groups and disabled children must be given special care in sending them to schools. Various studies have revealed that poverty can be reduced by sending the children to schools instead of sending them to work on wages. If a child is in the school then certainly, adults of his/her family will get work from where the child used to work. Thus adults will get employment and comparatively more wages than the children. It is also found that when the child of family goes for work then, adults of that family generally sit idle and the wages earned by the children are ill spent by their family. The employers prefer to engage children on work rather than adults so that they have to pay less wages to children. In this way, the children are exploited by the employers. So, it becomes the duty of parents, teachers, educational administrators and society at large that school going age child should not remain at worksite or out of school for any other reason but in neat and clean atmosphere of the schools. The Child herself/himself cannot ensure this environment. It needs to be watched by parents, teachers, community and educational administrators that child should not leave the school in between due to any reason. The child once admitted in school should remain, there till he/she completes the schooling. Thereafter, quality education becomes right of the child. To ensure this, every stakeholder should participate in the mission as detailed below : Teacher should ensure enrollment and retention of the child in the school through quality education and enriched [Link] /Parents should cooperate at each stage in learning processes of the [Link] Administrators should develop, design and ensure implementation of the strategies specifically: teacher availability, teacher competence and teacher motivation shall be ensured so that they impart quality education to children.