RBI clarifies on honouring of cheques with alterations

The Reserve Bank of India has clarified that its directive to banks, asking them not to honour cheques with alterations, will be applicable only for cheques cleared under the image-based cheque truncation system (CTS). 

At present, the cheque truncation project is being run only in the Delhi area with Chennai expected to move onstream soon. The clarification paves the way for bank branches in metros like Mumbai where CTS is still not operational to accept corrected cheques. RBI’s directive had created a flurry in trade circles and even among utilities that have been turning away cheques with any form of correction or alteration even if the changes were validated by the cheque drawer’s signature. Mobile operator Airtel had sent a message to subscribers, stating that it will not accept cheques with corrections on amount or the payee’s name after July 1. Other service providers and traders who have been accepting post-dated cheques have been turning back cheques with corrections or alterations. “The RBI notification will clear confusion in the minds of customers’ as well as bank officials at the branch level,” said K Unnikrishnan, deputy CEO of Indian Banks’ Association (IBA) — the industry body for commercial banks in India. In a notification posted on its website, RBI has clarified that its directive on prohibiting alterations/corrections on cheques ``will be applicable only for cheques cleared under the image-based Cheque Truncation System (CTS).” RBI has also clarified that this directive is not applicable to cheques cleared under other clearing arrangements such as MICR clearing, non-MICR clearing, over-the-counter collection (for cash payment), or even for direct collection of cheques outside the Clearing House arrangement. Cheque Truncation is a system of cheque clearing and settlement between banks based on electronic data/images or both without physical exchange of instrument. Here the cheque is scanned and electronically presented for settlement with the clearing house. Currently, most of the clearing is done on the MICR system and banks often entertained cheques with alterations, be it the name of the party to whom the cheque is issued, or the date or the amount, provided the issuer of the cheques does is signature besides the correction. However, after the central bank issued the directive in February 2010 on alteration on cheques, which was only meant for cheques to be settled under CTS, many banks did not entertain alteration on MICR cheques as well. However, over a period of time when the whole country would move to CTS, alteration of cheques would not be allowed said Mr Unnikrishnan.

Guidelines for Making a Legally Valid Will In India

Guidelines for Making a Legally Valid Will In India

There was a time when people would not even speak of life insurance openly. A person's Will is still a secret and confidential matter of which people do not speak, share and suggest about. Taking guidance from a lawyer may be important. But equally important is to discuss with those nearest to you, about the way you want to distribute your wealth and belongings within your family or the desired people, as you may get few good suggestions.

Purpose of a Will : Making the will during one's lifetime is one of the most important aspects of everybody's life. The hard work done by you during your entire life can get washed away in a moment, if you happen to die without making a will as to who will be your successor. There are many examples when the property of the persons is taken over by the government due to non-availability of a clear, legally valid will.

Hence, making a will well in time in your life is as important as living a healthy life. The laws and procedures for making the will are different in all the countries. I am going to briefly cover on the procedure of making the legally valid will in India.

Age : A will can be made at any age above 21 years in India.

Paper for Will : The procedure of making the will that is legally valid is very simple in India, as compared with many other countries of the world. You can make the will on plain paper in India. It is not necessary to make the will on judicial or non judicial stamp paper in India. You can get the will typed on a plain paper. However, it is advisable to write your will in your own hand writing as the same can be verified later in case of any doubts raised by the relatives.

Title of Will / Document Title : The will should have a headline that should identify that it is a will. A very good example of a headline title can be: Last Will And Testament.

Declaration : The declaration is to make sure that it is your own will and that only you have made it. So, you should state your full name and address and declare that you are of an age to legally make a will and that you are of sound mind. You will also declare that you are not making this will under anyones influence or that you are in duress. Also you must state explicitly that this is your last will and that you revoke all previously made wills (if any). Make sure that you give the complete personal details.

Name an Executor : An executor is the person bestowed by you who ensures that the tenets of the will are carried through. So name an executor who has the full knowledge of your business, should know about your spouse or the main beneficiary. While nominating an outside person, like a friend, always ask for the permission first. It is also better to name an alternate executor so that in case of unwillingness of the first, the second can be approached. However, in case you do not name any executor, then the court will appoint one.

Name a Guardian for your Minor Children : If your children are minor then name a guardian for them. However, if there is a remaining parent then it is not required. Here also, if you fail to nominate a guardian then the court has the power to name a guardian for the children. Do not name anyone without proper discussion with the proposed guardian and state the complete information of the chosen guardian.

Details of Beneficiaries : Provide complete details of the beneficiaries of your will, so as to avoid any confusion regarding their identity. Name alternate beneficiaries in case of the deaths of the first choice. While appointing beneficiaries it is always better to consult your lawyer, to smooth out the nitty gritty in case you plan to disinherit any members of your immediate family.

Details of your Assets : Providing the details of your assets is of utmost importance to distinguish between those that have been assigned and those that have not been assigned to the beneficiaries. For assets in different countries, a separate will for that country must be made which should not include the assets from the home country. This is because every country has separate laws and taxes, which must be worked out separately.

It is essential to list out all your assets in the will, item by item, which you own. The approximate current values of the house, land, or any other property should be clearly mentioned in the will. After listing out of all the assets like bank Fixed Deposits, Postal investments, Mutual Funds, Share Certificates, Insurance, Jewelry/ Ornaments, hard Gold & Silver, Money in Saving Accounts etc. (both movable and immovable) owned by you, also indicate where all such documents are stored by you.

Cover Specific Bequests / Distribution of Property : If you want to bequest a part of your asset or specific property to any person or organizations, then you must will it under the heading ‘Bequest’ where you will clearly state that the name and address of the entity you are making the bequest to. At the end of the will, you must specify as to who shall own all your assets item wise after your death.

You should clarify if the executors are to pay the income generated from such property to any other family member. You may put a clause to specify division of property between the sons & daughters, and implications on the will if they are married. It should also specify circumstances when they remain unmarried & also should specify if the daughter of the testator dies unmarried.

You can also distribute your assets to more than one individual. If you want, you can also form a trust of 2 or 3 persons who shall be empowered to execute your will as per your wish after your death.

Trustees : The trustees can be anybody of more than 21 years of age. If you are giving your assets to the minor, make sure to appoint custodian of your assets till the individual you have selected reaches an adult age.

Custodian : This custodian must be a trustworthy person. Once you complete writing your will, you must sign the will very carefully in presence of at least two independent witnesses. These witnesses have to sign after your signature certifying that you have signed the will in their presence. The date and place also must be indicated clearly at the bottom of the will. All the pages of the will need to be signed by you and all the witnesses. If any correction is made on the will, such corrections also must be countersigned by the person making the will and the witnesses.

Storage of Will & Important document : Mostly, such critical documents are to be preserved in the bank safe deposit vault. The detailed records can also be kept on your personal computer. However, looking to the security problems faced recently in the computer systems, I would advise to keep a hand written record in a special diary that may be stored safely away from other routine documents.

Funeral Arrangements : In your will you can state the mode of your funeral. You can state if you want to be buried, or cremated or disposed of in any suitable way. But all these should take into considerations the laws of the country. You may put a clause for payment of any liabilities incurred in the past or during ceremonies to be conducted upon death.

Signatures of Witnesses : There should be a minimum of two witnesses whose signatures must be taken on the will. This is very necessary in case of any disputes arising later, which can be cleared by the witnesses. Also you cannot select witnesses who are beneficiaries of your will. It is not mandatory for the witnesses to read the entire will. It is better to select the witnesses who are not related to you. They can be your friends, neighbors, or your colleagues at the job. They only certify as to you yourself have signed the will in their presence and are not the party in making the will. It is advisable to write your will on good quality thick white paper that does not get spoiled over a period of time. The will also may not be folded and must be stored in a plastic envelope in full size. The envelope has to be sealed after completing all the formalities and the seal must bear your signature and the date of sealing. The witnesses need not sign on the seal of the envelope.

Your Signature : The signature gives credibility to the will. And it must be signed in the presence of witnesses as they will attest to the fact that it is indeed your will. Specify the place and date and sign on every page.

Execution of Will : It is not legally required to get the will executed in a court of law in presence of a judicial Magistrate in India. However, if you wish, the will can be executed in presence of Magistrate or the public notary, nominated by the government authorities and sealed in their presence. You also should not take out many Xerox copies of your will. At the most, only one copy must be taken and stored separately from the original will. The will must be stored very safely in your bank in safe deposit box. You must also inform your next of kin as to where you have stored your will. Do clarify what if the executors die before the death of the testator.

Update/Change Will : You can change your will any time you wish. However, date the Will clearly and legibly, and make sure to mention that this will is the latest and supersedes all earlier wills.

Understanding And Overcoming Insomnia (Sleeplessness)

Over sixty percent of the population experience disturbed sleep or complete

sleeplessness, either chronically or once in a while. Insomnia has never

killed anyone, but to the person suffering from it, insomnia is as weakening

as anemia and as nagging as an ulcer. Apart from physical causes such as

malfunctioning of some organ, it is anxiety which is the cause of most sleep

abnormalities.*

Anxiety causes nightmares and night terrors in children, and it is the most

frequent cause of sleep walking and sleep talking. Even small worries can

cause insomnia, as the person lies in bed "over thinking" and fearing that

he will not be able to sleep. The fear itself results in that very result

i.e. inability to sleep. A vicious circle results, continuously, increasing

the severity of the problem.

Since worries and over thinking are the prime causes of insomnia, the cure

is obvious: stop worrying, especially at bedtime. Unfortunately, that

advice, though true, is very difficult to put into practice. A period of

meditation, ranging from ten minutes to half an hour, just before going to

bed, is usually successful in eliminating the problem.

Meditation works by relaxing the mind. The peaceful mind quickly spreads

its effect to the hypothalamus inside the brain, the region where the sleep

centre is located. When the blockage there is removed, natural and peaceful

functioning of the sleep centre is restored.

Four tips to avoid Computer Vision Syndrome

If you use a computer more than two hours a day, you could be suffering from Computer Vision Syndrome (CVS).

A CBS News Medical Correspondent Dr. Jennifer Ashton explained CVS is associated with symptoms that come with sitting in front of a computer, hand-held device, iPhone, iPod for hours every day.

"The most common symptoms are: eye strain, dry or irritated eyes, fatigue, and headaches," CBS News quoted Ashton as saying.

She provides some quick tips to keep eye strain at bay:

1. Blink Often: When looking at a computer or hand-held digital device, it's common for you to blink two to three times less than you normally would.

This can lead to "dry eye." Blinking bathes your eyes in tears, and tears are naturally therapeutic for the eyes.

2. The 20/20/20 Rule: When spending long periods in front of a digital device, every 20 minutes, spend 20 seconds looking at something 20 feet away to allow your eyes to rest.

3. Ensure Proper Lighting: To help ease the strain on your eyes, keep bright lighting overhead to a minimum and position your desk lamp to shine on your desk, and not at you. Position your computer screen in a way that reduces reflections and glare from windows or overhead lights.

4. Location of computer screen: Optimally, the computer screen should be 15 to 20 degrees below eye level (about 4 or 5 inches) as measured from the centre of the screen and 20 to 28 inches from the eyes.

KERALA GOVERNMENT DEPARTMENTS WEBSITES

SL. NO	DEPARTMENTS	WEBSITES
1	Agriculture Department	www.keralaagriculture.gov.in/ www.karshikakeralam.gov.in/
2	Coastal Shipping and Inland Navigation Department
3	Co-operation Department
4	Cultural Affairs Department	www.keralaculture.org/
5	Finance Department	finance.kerala.gov.in
6	Fisheries Department	www.fisheries.kerala.gov.in/
7	Food and Civil Supplies Department	civilsupplieskerala.gov.in
8	Forest and Wild Life Department	www.keralaforest.org/
9	General Administration Department
10	General Education Department	www.education.kerala.gov.in/ www.examresults.kerala.gov.in/ keralaresults.nic.in/ www.sslcexamkerala.gov.in/ results.kerala.nic.in/
11	Health and Family Welfare Department	www.healthkerala.gov.in/
12	Higher Education Department	www.education.kerala.gov.in/higher.htm
13	Home Department
14	Housing Department
15	Industries and Commerce Department	www.keralaindustry.org/
16	Information Technology Department	www.it.kerala.gov.in/
17	Kerala Police	www.keralapolice.org
18	Labour and Rehabilitation Department	www.labourkerala.gov.in/
19	Law Department	www.keralalawsect.org/
20	Local Self Government Department	www.lsg.kerala.gov.in/
21	Non-Resident Keralites Affairs Department	www.norka.gov.in/
22	Parliamentary Affairs Department
23	Personnel and Administrative Reforms Department
24	Planning and Economic Affairs Departmen	www.kslub.com/www.bpe.kerala.gov.in
25	Power Department
26	Public Works Department	www.keralapwd.net/
27	Revenue Department
28	Scheduled Caste Development Department
29	Scheduled Tribe Development Department	www.scheduledtribekerala.gov.in/
30	Science, Technology and Environment Department	www.kscste.kerala.gov.in/
31	Social Welfare Department	www.keralawomen.gov.in
32	Stores Purchase Department
33	Taxes Department	www.keralataxes.org/
34	Transport Department	keralamvd.gov.in
35	Vigilance Department	www.keralavigilance.org/
36	Water Resources Department

FIELD DEPARTMENTS

SL. NO:	DEPARTMENTS	WEBSITES
1	Animal Husbandry Department	ahdkerala.gov.in
2	Archaeology Department	www.keralaarchaeology.org/
3	Ayurveda Medical Education Directorate	www.healthkerala.gov.in/hrp/ayurveda.jsp
4	Archives Department	keralastatearchives.org
5	Coir Development Directorate	coirkerala.org
6	Collegiate Education Department	www.collegiateedu.kerala.gov.in/
7	Chemical Examiners Lab Department
8	Dairy Development Department	www.kissankerala.net/
9	Drugs Control Directorate
10	Economics and Statistics Department	www.ecostatkerala.org/
11	Electrical Inspectorate Department	www.ceikerala.gov.in/
12	Election Department	www.ceokerala.nic.in/
13	Employment Services Kerala	employmentkerala.gov.in
14	Employment and Training Directorate	www.detkerala.org/
15	Excise Department
16	Factories and Boilers Department	www.fabkerala.gov.in/
17	Fire and Rescue Service Department
18	Ground Water Departmernt	www.groundwater.kerala.gov.in/
19	Harbour Engineering Department	www.hedkerala.gov.in/
20	Higher Secondary Education Directorate	www.dhsekerala.gov.in/
21	Homeopathy Directorate	www.healthkerala.gov.in/hrp/homoeo.jsp www.healthymotherhappychild.com/
22	Industrial Training Department
23	Indian Systems of Medicine Department
24	Information and Public Relations Department	www.prd.kerala.gov.in/
25	Insurance Department	www.ksid.in/
26	Insurance Medical Services Department
27	Kerala Agricultural Income Tax and Sales Tax Appellate Tribunal Department
28	Kerala Police	www.keralapolice.org/
29	Kerala State Land Use Board	www.kslub.com/
30	Land Revenue Department	lris.kerala.nic.in
31	Legal Metrology Department
32	Local Fund Audit Department	www.finance.kerala.gov.in/
33	Lotteries Department	www.keralalotteries.com/
34	Medical Education Directorate
35	Mining and Geology Department	www.dmg.kerala.gov.in/
	Motor Vehicles Department	www.keralamvd.gov.in
36	Museum and Zoo Department	www.keralamuseumandzoo.org/
37	Printing Department
38	Prisons Department
39	Port Department	www.keralaports.gov.in/
40	Panchayat Department	www.lsg.kerala.gov.in/
41	Registration Department	keralaregistration.gov.in
42	Rural Development Commissionerate	www.crd.kerala.gov.in/
43	Sainik Welfare Department	www.sainikwelfarekerala.org/
44	Soil Survey Department
45	Sports and Youth Affairs Directorate	www.dsya.kerala.gov.in/
46	Survey and Land Records Department	www.dslr.kerala.gov.in/
48	Technical Education Department	www.tekerala.org/
49	Tourism Department	www.keralatourism.org/
50	Town and Country Planning Department	www.townplanning.kerala.gov.in/
51	Treasury Department	treasury.kerala.gov.in
52	Urban Affairs Department	www.ksudp.org/
53	Vocational Higher Secondary Education Directorate	vhse.kerala.gov.in/
54	Water Transport Department

COMMISSIONS

SL. NO	DEPARTMENTS	WEBSITES
1	Kerala Official Language (Legislative) Commission	www.kerala.gov.in/dept_law/authorities.htm
2	Kerala Public Service Commission	www.keralapsc.org/
3	Kerala State Consumer Disputes Redressal Commission	www.kerala.gov.in/grievanceredressal/redressal.htm
4	Kerala State Farmer's Debt Relief Commission
5	Kerala State Electricity Regulatory Commission	www.erckerala.org/
6	Kerala Women's Commission	www.keralawomenscommission.gov.in/
7	State Co-operative Election Commission	www.kerala.gov.in/govinstitutions/commissions.htm
8	State Commissionerate for Persons with Disabilities	www.kerala.gov.in/govinstitutions/commissions.htm
9	State Election Commission, Kerala	www.electionker.org/
10	State Information Commission Kerala	keralasic.gov.in
11	The Kerala State Human Rights Commission	www.kshrc.kerala.gov.in

GOVERNMENT ENGINEERING COLLEGES AND MEDICAL COLLEGES

1	College of Engineering, Thiruvananthapuram	www.cet.ac.in/ www.me.cet.ac.in/
2	Government Engineering College, Barton Hill, Thiruvananthapuram	www.gecbh.ac.in/
3	Rajeev Gandhi Institute of Technology, Kottayam	www.rit.ac.in/
4	Government Engineering College, Idukki	www.gecidukki.ac.in/
5	Government Engineering College, Palakkad	kerala.gov.in/dept_technicaleducation /engineeringcolleges.htm
6	Government Engineering College, Kozhikkode	www.geckkd.ac.in/
7	Government Engineering College, Kannur	www.gcek.ac.in/
8	Government Homeopathic Medical College, Thiruvananthapuram	www.ghmct.edu.in/
9	Medical College, Kottayam
10	Medical College, Kozhikode	www.calicutmedicalcollege.ac.in/
11	Medical College, Thiruvananthapuram	www.govtmedicalcollegetvm.net/
12	T.D. Medical College, Alappuzha	www.tdmedicos.com/hospital.htm

UNIVERSITIES

SL. NO	INSTITUTIONS	WEBSITES
1	Cochin University of Science and Technology (CUSAT)	www.cusat.ac.in
2	Kannur University, Mangattuparamb	www.kannuruniversity.ac.in/
3	Kerala Agricultural University, Vellanikkara, Thrissur	www.kau.edu/
4	Mahatma Gandhi University, Kottayam	www.mguniversity.edu/
5	Sree Sankaracharya University of Sanskrit
6	University of Calicut	www.universityofcalicut.info/
7	University of Kerala, Thiruvananthapuram	www.keralauniversity.edu/

AUTONOMOUS BODIES, CULTURAL AND OTHER INSTITUTIONS

SL. NO	INSTITUTIONS	WEBSITES
1	Agency for Development of Aquaculture (ADAK) Thiruvananthapuram	www.fisheries.kerala.gov.in/key.htm
2	Agency for Non-Conventional Energy and Rural Technology (ANERT) Thiruvananthapuram	education.vsnl.com/anert/
3	Attappady Hills Area Development Society, Palakkad	www.ahads.org/
4	Bharat Bhavan Society of Kerala