Deposits in Jan Dhan account have more than doubled to Rs. 87,000 crore in 45 days post demonetization, Then; Jan Dhan Account Holders Withdrew Rs 3,285 Crore In Last Fortnight
2017th 1st Study Report By Harbans S Nagokay.
The UK has marked the start of 2017 with a spectacular firework display in London.Tens of thousands gathered on the banks of the Thames to watch the display immediately after Big Ben sounded its midnight chimes.New Year events across the UK went ahead under tight security, following lorry attacks in Berlin and Nice.The music accompanying the London fireworks featured a recording of mayor Sadiq Khan saying: “London is open.” A regime initiated to open London for US workers obviously fed-up with Trump’s presidency otherwise something akin to Modi’s ‘Make in India’.
Then and there, a ‘leap second’ was added to the Indian clock at 5:29.59 hours today to synchronize with the Earth’s rotational clock. As the atomic clock at the National Physical Laboratory (NPL) in New Delhi struck 23:59:59 last night, it was programmed to add an extra second to 2017 to compensate for a slowdown in the Earth’s rotation.Adding a second barely has an impact on the daily life, but it does matter in the fields of satellite navigation, astronomy and communication.
“The Earth and rotation around its own axis is not regular, as sometimes it speeds up and sometimes it slows down, due to various factors including earthquakes and moon’s gravitational forces that often results in ocean tides.
As a result, astronomical time (UT1) gradually falls out of sync with atomic time (UTC), and as and when the difference between UTC and UT1 approaches 0.9 seconds, a leap second is added to UTC through atomic clocks worldwide,” D K Aswal, Director NPL said.Adding the leap second to the Indian clock is done by the NPL under the Council for Scientific and Industrial Research (SCIR). The NPL, one of the oldest laboratories in the country, has five atomic clocks and nearly 300 such pieces exist across the globe.Atomic clocks are so precise that the margin of error in its functioning is just of a second in 100 million years.DK Aswal said the Indian atomic clock was also synchronised with the atomic clock of International Bureau of Weight and Measure (BIPM), France.
“The leap second adjustment is not so relevant for normal everyday life. However, this shift is critical for applications requiring of time accuracies in the nanosecond, which are critical in the fields of astronomy, satellite navigation, communication networks,” DK Aswal added.Those utilising CSIR-NPL time dissemination services need not worry as they will receive the corrected time post the insertion of the leap second, DK Aswal said.Since 1972, 36 leap seconds have been added at intervals varying from six months to seven years and this will be 37th year.
Given Above, at the times, when country is otherwise all set to go cashless, a senior Govt. Official; correspondingly revealed that deposits in Jan Dhan account have more than doubled to Rs 87,000 crore in 45 days post demonetization. Besides, the tax department also has data on small cash deposits between Rs 30,000-50,000 made in 4.86 lakh accounts totaling to Rs 2,000 crore.The official further said that inflows of funds into Jan Dhan accounts was the highest in the first week after demonetization at Rs 20,224 crore, but after that the deposits went down substantially.
On other side; the first-hand New Year’s pressure on agencies is nearby finding the details of Jan Dhan accounts those witnessed net withdrawal of Rs 3,285 crore in the last fortnight after a huge surge in deposits post demonetization in November.