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Wednesday, April 2, 2014

depositing cheque in a bank.... the day in news - Rakhi Sawant claims illiterate

A star worth several crores of rupees entering election fray has declared that she is an illiterate………till a few years ago, even literates were not too confident in transacting at banks… they might stumble in filling up the pay-in-slip for depositing money; withdrawal slip – taking DD and the like… and some banks used to have the forms printed in multi-languages [not simply Hindi-English-vernacular] but more, as they could do bulk printing and then distribute ….that way, it was a daunting task to figure out what is to be written – where ?  …. Me at home today [2nd April 14] taking a day off for a different reason, provided ample time to browse some interesting and some otherwise ordinary news and here are some thoughts !

First what is your experience in transacting in bank those days – how friendly were those forms – now, you just walk in to a bank – write the details of your SB a/c on the backside of the cheque and drop it in a box for collection … though sounds hasslefree, for some, it does not provide the safety or comfort that they used to have when they had that counter-foil duly stamped [nevermind, the fact that round seal would be hanging outside the counter and in many a places, they had to do it all by themselves]… do read the last part of this post…………

On Monday, the Regional meteorological centre (RMC) in the city recorded a maximum temperature of 38.6 degrees Celsius, while the airport weather station in Meenambakkam registered 39.2 degrees Celsius, which was one of the highest recorded in March.  So there are going to be dog days and you would find reports stating that summer is more hotter than it was ….  

Some of you would skip Sports (aka Cricket) but to fans – even when you are going to have WI – Lanka and India Vs SA… we read the news of Goa pulling off a 7 wicket win over TN in the Mushtaq Ali T20 South zone tourney at Vizag.   At a higher level, Samsung Galaxy S5 is hitting the market and is likely to priced above Rs.51000/- ; at a time when their advertisements are attracting, it  seems they  have run into some legal trouble in India as their chairman finds himself facing arrest in a cheating case. The Supreme Court today asked company chairman Lee Kun-hee to surrender before a trial court in Ghaziabad within six weeks, reports IBN-Live, failing this the court has directed that an arrest warrant must be issued against the Samsung boss. This comes after the Samsung Chairman approached the apex court seeking that a criminal case and non bailable warrants issued against him be quashed. The case which has been doing the rounds of courts since 2002 is based on a complaint against Samsung and Lee Kun-hee. The complaint states that Samsung failed to honour a payment of $ 1.4 million.

A bench of justices CK Prasad and PC Ghose, however, directed that the arrest warrant issued against 72-year-old Lee for his non-appearance in the case before the trial court will not be executed for a period of six weeks.The court, however, made it clear that it was not expressing any opinion on the merit of the case pending before the trial court.

Actress Rakhi Sawant, who has jumped into poll fray while claiming to be an "illiterate" person with assets worth Rs 15 crore, has outstanding loans worth about Rs 2.5 crore and an additional Rs 72.5 lakh tax liability- Firstpost report states.  Citing PTI, there is also a pending criminal case of 'breach of trust' and 'cheating' under sections 406 and 420 of the Indian Penal Code (IPC) which is being heard by a metropolitan magistrate court in Mumbai, according to the election affidavit filed by 36-year-old Sawant, a contestant from Mumbai North West seat.

Gold fell for the fourth straight day as prices shed Rs 10 to Rs 29,250 per 10 grams in New Delhi on Wednesday on sustained selling by stockists against sluggish demand amid a weakening global trend. Silver also lost Rs 100 to Rs 43,400 per kg on lack of buying support from industrial units and coin makers.

A dacoit gang robbed the passengers of Hyderabad bound Chennai Express, near Piduguralla railway station in the early hours of Tuesday. They escaped with gold ornaments and other valuables, valued about Rs.5 lakh. The robbers, who travelled in the train, pulled chain as the train crossed Piduguralla railway station, around 2.18 a.m. The assailants snatched gold chains, and wallets from the passengers who were sitting at the windows and fled, Superintendent of Railway Police, Vijayawada Division, Ch. Syam Prasad said.

Now getting back to ‘depositing cheques’ and the pay-in-slip, here is an interesting notice in Tamil daily Dinamalar of date, which mostly would have been overlooked.

As stated, SBI branch at Vadapalani had an attempted burglary where the cheque drop box kept at the entrance is reportedly broken open and offenders took away the cheques dropped in that box from 12 pm on 29.3.14 till 7.25am on 1.4.14, when perhaps it was noticed.  The bank has requested the customers who had deposited the cheques to issue stop payment instructions through the drawer of the instruments to avoid any misuse.  Whether one cares to look at paper for such advts after depositing a cheque and whether they would possess enough details of the cheques so deposited [including the cheque no.; drawer details and the bank of issuance ?]

With regards – S. Sampathkumar

2nd April 2014.

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