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EDUCATION

A.M.Jain College faculties demands Salary

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The teaching and non-teaching staff of A.M.Jain college staged sit in demand on Wednesday for more than five hours demanding salary for May and June.

The faculties receive their salary directly from the Directorate of College Education, once the college produces the salary bill of the staff members. The Secretary of the college signs the bill and the joint director makes the payment directly is the usual procedure.

For over a year, the DCE had permitted the college to claim the salary bill but the recently appointed DCE invoked a Government Order that permits the Government to appoint a special officer to administer the college.

The college was managed by S.S. Jain Educational Society and the society was unable to satisfy the DCE with regard to the choice of secretaryship of the college. The DCE appointed regional joint director R. Ravanan to oversee the functioning of the aided institution.

The college management, meanwhile, has sought quashing of the G.O.,through court. Mr. Ravanan signed the salary bills for April forwarded by the Principal late in June.  A faculty said, “We are yet to get the salary for May and June. The bill has not yet gone to the Joint Director’s Office for approval.”

Mr. Ravanan said, “We got a direction from the court that we should disburse salary. We have asked for a report from the Principal but we have not got it yet. There may be around 75 faculty members.”

The college Principal, N. Venkataramanan, said “it was subjudice to talk as the college management had appealed against the G.O.” The faculty dispersed in the evening after an assurance from him that the bills would be sent to the RJD on Thursday, he said.

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EDUCATION

Stock Market Watch ,Tuesday 20

Market Updates

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Global stock markets recovered some further ground Monday after last week’s turbulence. The ongoing trade war between the United States and China and an array of worries about waning growth across the world weighed heavily on sentiment.

Last week, many stock indexes around the world struck their lowest levels this year. Nifty Future is trading in negative and have a chance to fall on Tuesday

Investors are hoping that the U.S. Federal Reserve will continue to cut interest rates to shore up economic growth. The central bank lowered interest rates by a quarter-point at its last meeting. It was the first time it lowered rates in a decade.

World Market

In Asia, Japan’s benchmark Nikkei 225 rose 0.7% to finish at 20,563.16. Australia’s S&P/ASX 200 gained 1.0% to 6,467.40, while South Korea’s Kospi was 0.7% higher at 1,939.90. Hong Kong’s Hang Seng rose 2.1% to 26,278.22. The Shanghai Composite added 2.1% to 2,883.10.

Crude Oil Update:

Benchmark crude oil rose 14 cents to $55.01 a barrel. It rose 40 cents to settle at $54.87 a barrel Friday. Brent crude oil, the international standard, rose 27 cents to $58.91 a barrel.

Rupee update:

On Tuesday the Indian rupee opened lower at 71.51 per dollar against previous close 71.43 on Monday

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EDUCATION

Founder of PSBB Schools, Mrs Y.G.P passes away at 93

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Mrs Rajalakshmi Parthasarathy popularly known as Mrs YGP was the founder dean of PSBB group of schools in Chennai. She is 93 years old and was admitted in Apollo Hospitals due to complaints of discomfort. Around 1.20 pm today she breathed her last leaving behind her educational empire and two sons Y.G. Mahendran and Y.G. Rajendran and their families.

Her body would be kept for public homage at Padmaseshadri School at Thirumalai Pillai Road, T. Nagar. 

The last rites will be held at the Besant Nagar crematorium on Wednesday at 4 p.m. 

May her Athma attain Mukthi.

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EDUCATION

Medical Seats – Management quota can’t be charged more says Madras High Court

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A Division Bench of Justices R.Subbiah and C.Saravanan said, “The only discrimination that is permissible is regarding fees than can be charged from students admitted against the seats allocated under the NRI quota, which has been fixed at 15% of the total seats available in every medical institution.” The judges said that the fees collected should be used only for subsidizing the education of students from economically weaker sections.

To avoid the misusage of NRI quota to make money, the Bench suggested that either the Assembly could pass a law to regulate such admissions or the government could issue executive instructions on the subject.

“Higher fee amount can be collected only from students admitted from the NRI quota and such excess money collected from those students can be used for subsidizing the fees of students coming from the economically weaker sections of the society. Once the fee is fixed, approved by the committee concerned and notified, it cannot be tampered with,” they concluded.

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