Basant to take Charge as Chairman of JPSC Controller of Examination of had recommended for reexamination,

Ranchi, July, 1: Former chief secretary of Jharkhand and ex-chairman of Jharkhand State Electricity Board Shiv Basant is all set to take charge as controversial Jharkhand Public Service Commission (JPSC) chairman on Friday. Basant’s request for the voluntary retirement was cleared by the concerned authority last week.

With his appointment JPSC will finally gets a fulltime chairman after Dilip Prasad who was sacked from the prestigious post in April 2010 after his involvement in the recruitment scam.

Shiv Basant appointment has come in the challenging time when the Commission’s image has been dented across the board. JPSC is under severe investigation for irregularity involved in examinations conduct by it.

Top officials in the commission said that already delayed result of the 4th Combined Civil Services would be declared only after Basant takes their guard as chairman. 

Present governing body in the JPSC may be feeling ill-prepared as far as the result of 4th preliminary exam is concerned. 

A section of examinees had raised the question about considerable number of questions repeated that had already being asked in the UPSC PT examination. 

The Controller of Examination of JPSC had recommended for reexamination, Basant’s decision would be extremely crucial in this matter. 

The Jharkhand Government had on May 24 made their mind to appoint Basant as full-fledged chairman of the JPSC. Presently, there are only two members in the JPSC and one of them, Praveez Hassan, is officiating as acting chairman. 

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JPSC Result the Case of Poor Governance

Ranchi, June,29:The most controversial Public service commission of the country JPSC once again came under the poor governance ambit of the state government.

The high profile Recruiter of the Jharkhand government is yet to get their full time chairman in the office after the announcement of appointment of Shiv Basant  a senior IAS officer without his proper eligibility for that post of Chairman.

When the technical matter highlighted by the experts the government is trying to make him eligible for the post by appointing him as the head of Finance commission and pushing him for VRS whose application is pending with the Union Government and UPSC, only after the acceptance of VRS he can became eligible for the post.

Government is expecting that formality will be clear in few days and new chairman will take their seat.

Entire batch of the previous governing body of the JPSC including Chairman Dileep Prashad and other members are facing trial for the corruption and they are under the judicial custody in Birsa Central Jail Ranchi.

JPSC has multiple issue as PT result is pending staff shortage is also their other members are yet to be appointed. It is a failure of Jharkhand government to equip their organizations with resources to delegate their responsibility.

China credit market worsening...

Bejing,June,29: Global markets are eyeing over the Greece's debt woes, but the world second biggest economy China's debt situation is not that much different from Greece game.

Chinese banks are also witnessing pain in their books as the balance sheet of  banks are not giving rosy picture because in there off-balance sheet lending, very few facts and a lot of fears is visible.

The amount of Chinese bank credit book has doubled from December 2007 to May 2011, which is the perfect textbook example of a credit bubble in the system.

Despite the fact that the loan growth rate in China has been halved to 15% over the last 2 years, the value of lending extended during that time which is prime concerns for them. 

Total outstanding of Chinese bank loans stood at USD 6,500 per capita in 2010 with respect to GDP per capita of USD 4,400, which is not going to sustain in near future.

There is an overhang though of the excesses those were booked in the previous 2 years on the book of banks. When they mature over the coming 2, 3 years, the will certainly see defaults. In China non-performing loans (NPL), which at 1% of total loans, are bound to increase going forward.

Some analysts are even estimating that this could increase to 6% of loans, 10% of loans, and even 15% of loans within a few years’ time. However as per general consensus NPL of Chinese bank are inching to get double in 3 year.

The worsening situation in China will create big storm in world economy as China is not much transparent and once the bubble will burst will derail the global growth.

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