“It is the knowledge and the people who are become critical in today’s world. Since knowledge is the principal resource that the university creates and disseminates, its position in this new society becomes all the more important. The rise of new age organizations is clearly highlighting the importance of gaining a greater degree of understanding on what ‘knowledge capital’ means. Since people, knowledge, skills and entrepreneurship are going to play a key role in the functioning of the next society, universities need to change, turn entrepreneurial if they are to contribute and stay relevant in today’s society. Universities must analyze the domains of knowledge imparted by them vis-à-vis marketable skills that blend with the corresponding domains. This is a necessary task and I think Utkal University must take this challenge,” he said while addressing the 48th Convocation of Utkal University here.
He said efforts should be to impart such education that would advance global knowledge and help to create a ‘knowledge economy’. It must also provide students with the necessary knowledge and skills for acquiring jobs in an ambience of rapidly growing global knowledge and continuously emerging new technologies, he pointed out.
He further said excellence is the result of sincere effort, skilful execution and the vision to see obstacles as opportunities.
“It is a continuous process by which you can inculcate the habit of putting in best efforts in everything that you do. It might be the smallest things that you do or the most important, you must put on heart and soul into doing your work in the best possible manner. Your commitment should not be towards achieving a certain result, but towards making a habit of excellence with great sincerity and passion,” the Governor said and called upon the teachers and students to practice positive values in their both behavior and actions.
Delivering convocation address, Dr Subroto Bagchi, Chairman, Odisha Skill Development Authority said, violence and corruption drive away good money and good investment. As a result, over time, the quality and quantity of employment of an entire region suffers. He urged upon students to take a deep breath and reflect upon the events around. He asked to denounce acts of violence in every sphere of life and shun violent people.
Vice-Chancellor Prof Ashok Kumar Das, Director, Higher Education Prof Nihar Ranjan Patnaik, Registrar MK Biswal among others were in the dais.
On this occasion, the Governor conferred Doctorate degree to six eminent personalities, Ph.D to 281 scholars and gold medal to 88 students.
Those who were conferred with Doctorate degree are eminent surgeon Dr Mukut Minz, former Direector of All India Institute of Medical Sciences Dr Ashok Mohapatra, well-known social activist Arundhati Devi, CMD of NLC India Ltd Dr Sarat Kumar Acharya, Director General, CIPET, Sanjay Kumar Nayak, National Law School of India University Prof R Venkat Rao.
“I have received the award after a long time and this is like a lifetime achievement award. I thank and Chancellor, Vice Chancellor and Syndicate members of Utkal University for selecting me as they found that I am worthy of this award,” Dr Minz told media persons here.
Dr Sarada Prasanna Mohanty, who was conferred with the Ph.D dgree, expressed his happiness for the award. “I am very happy to receive the Ph.D as it is almost the last award for a student in his/her academic career. I thank the Chancellor, Vice Chancellors and professors for their sincere cooperation in enabling me to receive the Ph.D,” he added.
Monica Behera, a medical student of SCB Medical College and Hospital, Cuttack, said it was a rare occasion for her to receive the award. After a gap of 10-14 years, a medical student of a government medical college has been awarded with a gold medal in clinical subject. “As I come from a fraternity of surgeons and my father is also a surgeon, I feel proud of receiving the award from the Chancellor.
He also said SBI Caps will draw a bank wise action plan based on which a tripartite agreement between the government, bank management and employee unions will be signed committing themselves towards certain milestones.
"The central government has written to the heads of 10 banks indicating the amount of fresh capital it would infuse during FY2017. But the infusion is subject to a tripartite agreement between the central government, banks and the unions for a time bound turn around programme," C.H. Venkatachalam, General Secretary of AIBEA, told IANS on Sunday.
He said the government has said that the tripartite Memorandum of Understanding (MoU) is to commit all the three parties to specified and quantifiable milestones to be measured on quarterly basis.
Venkatachalam said the reason for signing the MoU is understandable and AIBEA is ready for it.
He said the central government has listed out five parameters under which the milestones would be fixed.
These are: (a) active management of non-performing assets (NPA), strengthening of lending and monitoring processes; (b) arranging capital from the market; (c) plan for disposal of non-core assets; (d) divesting stakes in subsidiaries, closure of loss-making domestic and international branches; (e) reduction in operational expenses including employee benefits to would be reversed once the banks turns around.
According to Venkatachalam, the unions may be agreeable with all the conditions barring the raising of equity capital from the market as it would result in disinvestment.
"All the government-owned banks are making good operational profits. The net profit is low owing to provisions for bad loans. If only the bank management focus their energies on recoveries than all the government owned banks will be very much profitable," Venkatachalam said.
He said the capital adequacy norms or the Basel norms are for private banks and need not apply for government owned banks.
"All the bank unions will be meeting in Kolkata on March 24 to discuss the government's proposal," Venkatachalam said.
He added the government has asked the heads of the 10 banks to give their consent on its new proposals.
Venkatachalam said the name of the banks and the amount of capital to be infused by the government are:
Allahabad Bank (Rs 418 cr), Andhra Bank (Rs 1,100 cr), Bank of India (Rs 1,500 cr), Bank of Maharashtra (Rs 300 cr), Central Bank of India (Rs 100 cr), Dena Bank (Rs 600 cr), IDBI Bank (Rs 1,900 cr), Indian Overseas Bank (Rs 1,100 cr), UCO Bank (Rs 1,150 cr), and United Bank of India (Rs 418 cr).
Venkatachalam said the Kolkata-based UCO Bank management is likely to meet the bank unions and brief them about the government's proposal.
"No other bank management has called the unions for a discussion. Perhaps this would happen soon," Venkatachalam added.