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Monday, July 3, 2017

THE HINDU EDITORIAL: 01-JULY-2017

THE HINDU EDITORIAL

Walk the talk
While it is impossible to fault Prime Minister Narendra Modi for speaking up against killing in the name of cow protection, it is equally impossible to be convinced about its earnestness and efficacy. His remarks at an event in Mahatma Gandhi’s Sabarmati ashram have come at a time when there is a groundswell of popular revulsion about violent, even murderous, cow vigilantism, leaving the unfortunate impression that it was but a response to public pressure. The #NotInMyName movement, which began with a Facebook invitation to participate in a protest in Delhi, had assumed viral dimensions, with other cities in India and elsewhere in the world organising or planning to organise similar events. What began as a somewhat limited mobilisation to campaign against lynching morphed into a broader movement involving all communities against state apathyto the phenomenon. The timing is not the only thing that gives rise to scepticism about Mr. Modi’s observations about cow vigilantism. Frequency is the other issue. A phenomenon that has wreaked violence, affected livelihoods, and created insecurities over the last couple of years — all of which have been compounded by a mischievous and hugely lawed order to regulate cattle sale — is deserving of a more muscular and frequent response. More importantly, it needs to be coupled withtangible action on the ground. One of the contradictions that Mr. Modi must square up to as well as grapple with is that, by and large, aggressive cow vigilantes who take the law into their own hands are members or sympathisers of one or the other organisations of the Sangh Parivar, the Bharatiya Janata Party’s extended family. Given this, words are simply not enough — unaccompanied by strong corroborative action, they only serve to perpetuate the lie that the top is either totally divorced from the distasteful happenings at the bottom or that it doesn’t have the means to control it. It is true that as Prime Minister, Mr. Modi has no direct control over law and order, which is a State subject. But as the BJP’s most popular leader, one who has no real rivals in the party, he must wield his influence and power to crack down on those who indulge in violence in the name of cow protection. In the absence of this, Mr Modi’s remarks may constitute nothing more than a mild reprimand. There is no denying that speech is better than silence and his remarks may help sharpen the focus on how determined governments are to uphold the rule of law — firmly, decisively, and in a manner that deters cow vigilantism. Any politician worth his salt knows there is Condemnation and there is condemnation.

Midnight makeover
e products, creating iIn a landmark reform, India today switches to a new indirect tax system, the Goods and Services Tax. The GST subsumes the multiple Central, State and local taxes and cesses levied on goods and services, unifying the country into a single market, thereby making it easier to do business and ensure tax compliance. This will attract investors and more efficiently mop up revenues for the exchequer. The reform has been years in the making, and having shown the political will to finally pull it of, the Central government must work with the States to chart a road map to simplify the tax regime. Currently there are multiple tax rates ranging from 0% to 28%, plus a cess on somncentives for lobbying and rent-seeking. The level of preparedness for the new tax system too is not optimal, with sections of industry, trade as well as the bureaucracy visibly anxious about several aspects of the GST’s operational and legal framework. In response, the date for businesses to file the first GST returns has been deferred. The generation of e-way bills for moving goods worth over ₹50,000 too has been put on hold, along with the requirement for e-commerce portals to deduct tax at source from small sellers. The GST Network, which will digitally capture billions of transactions daily, was not able to test its software in advance; and there is concern about the preparedness of intermediaries mandated to help businesses transition to the completely electronic compliance system. The coming days therefore could test the system, and the capacity of the authorities to think on their feet will be vital. As it stands, the GST in its initial avatar has a complicated structure, with far too many tax rates that could lead to classification disputes, and with the exclusion of key inputs such as petroleum products (with particularly high indirect tax levies). The Finance Minister has asked industry to ensure that the benefits of GST rate cuts are passed on to consumers, but it is not clear how businesses with higher tax incidence are to adjust pricing strategies or how the stringent anti-profiteering clauses will be interpreted. The transitory effects on India’s largely informal economy, which has already been hit by demonetisation, must be watched closely. Tax buoyancy, an easier investment climate and the 1% to 2% growth spurt expected from GST may take some time to be realised. Yet, reforms are the art of the possible and the government has said it will strive to rationalise the number of tax rates and bring excluded sectors into the GST over time. This is the first step in the evolution of the GST, and some initial hiccups are perhaps inevitable in a system founded on political consensus and federal adjustments. This is why it is unfortunate that some opposition parties, including the Congress which led the initiative on the GST for much of the past decade, decided to boycott the midnight inauguration in Parliament’s Central Hall.

Vocabulary
1) subsumes
Meaning: to include something or someone as part of a larger group.
Synonym: Includes, Classifies, Involves
Antonym: Exclude
2) cess / levy
Meaning: a tax or levy.
Synonym: Tariff, Tax
3) mop
Meaning: a stick with soft material attached to one end, especially used for washing floors.
Synonym: Swab, Shock, Clean
4) lobbying
Meaning: the activity of trying to persuade someone in authority, usually an elected member of a government, to support laws or rules that give your organization or industry an advantage.
Synonym: Influence, Persuade, Urge
Antonym: Dissuade, Halt, Hinder
5) deferred
Meaning: delayed until a later time.
Synonym: Postpone, Suspend, Delay
Antonym: Disobey, Stand up to
6) stringent
Meaning: having a very severe effect, or being extremely limiting.
Synonym: Strict, Harsh, Inflexible
Antonym: Lenient, Flexible
7) transitory
Meaning: lasting for only a short time.
Synonym: Temporary
Antonym: Permanent, Perpetual
8) spurt
Meaning: to increase or grow very quickly, or to suddenly increase by a particular amount.
Synonym: Eruption, Surge
Antonym: Peace, Continuity
9) rationalise
Meaning: to try to find reasons to explain your behaviour, decisions, etc.
Synonym: Justify, Defend, Excuse
10) inevitable
Meaning: certain to happen and unable to be avoided or prevented.
Synonym: Inexorable, Assured
Antonym: Avoidable, Uncertain
11) earnestness
Meaning: completely serious.
Synonym: Intensity, Enthusiasm
Antonym: Coldness, Idleness
12) efficacy
Meaning: the ability, especially of a medicine or a method of achieving something, to produce the intended result.
Synonym: Adequacy, Influence
Antonym: Inability, Failure
13) revulsion
Meaning: a strong, often sudden, feeling that something is extremely unpleasant.
Synonym: Disgust, Repugnance
Antonym: Delight, Liking
14) lynching
Meaning: Someone who they believe is guilty of a crime, they kill them without a legal trial, usually by hanging.
Synonym: Hang
Antonym: Create
15) morphed
Meaning: to gradually change one image into another, or combine them, using a computer program.
Synonym: Alter, Transform
Antonym: Sustain, Preserve
16) apathy
Meaning: behaviour that shows no interest or energy and shows that someone is unwilling to take action, especially over something important.
Synonym: Indifference, Unconcern
Antonym: Enthusiasm, Interest
17) scepticism
Meaning: doubting that something is true or useful.
Synonym: Doubt
Antonym: Conviction, Belief
18) wreaked
Meaning: to cause something to happen in a violent and often uncontrolled way.
Synonym: Inflict, Create, Impose
Antonym: Destroy, Ignore
19) grapple
Meaning: to fight, especially in order to win something.
Synonym: Struggle, battle
Antonym: Release
20) sympathisers
Meaning: a person who supports a political organization or believes in a set of ideas.
Synonym: Advocate, Collaborator
21) corroborative
Meaning: to add proof to an account, statement, idea, etc. with new information.
Synonym: Collateral, Supporting
22) perpetuate
Meaning: to cause something to continue.
Synonym: Maintain, Preserve
Antonym: Neglect, Prevent
23) rivals
Meaning: a person, group, etc. competing with others for the same thing or in the same area.
Synonym: Conflicting, Disputing
Antonym: Assisting, Supporting
24) wield
Meaning: to have a lot of influence or power over other people.
Synonym: Flourish, Shake
Antonym: Idle, Neglect
25) indulge
Meaning: to allow yourself or another person to have something enjoyable, especially more than is good for you.
Synonym: Satisfy, Accommodate
Antonym: Frustrate
26) reprimand
Meaning: to express to someone your strong official disapproval of them.
Synonym: Reproof, Lecture
Antonym: Praise, Commendation
27) deters
Meaning: to prevent someone from doing something.
Synonym: Check, Obstruct
Antonym: Encourage
28) Condemnation
Meaning: the act of condemning something or someone.
Synonym: Censure, Criticism
Antonym: Praise, Plaudits
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Saturday, July 1, 2017

BANKING AWARENESS: RESERVE BANK OF INDIA

Reserve Bank of India

The Reserve Bank of India is India's central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act, 1934. The original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following India's independence on 15 August 1947, the RBI was nationalised on 1 January 1949.
The RBI plays an important part in the Development Strategy of the Government of India. It is a member bank of the Asian Clearing Union. The general superintendence and direction of the RBI is entrusted with the 21-member Central Board of Directors: the Governor, 4 Deputy Governors, 2 Finance Ministry representatives, 10 government-nominated directors to represent important elements from India's economy, and 4 directors to represent local boards headquartered at Mumbai, Kolkata, Chennai and New Delhi. Each of these local boards consists of 5 members who represent regional interests, and the interests of co-operative and indigenous banks.
The bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion (AFI)
The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War. The Reserve Bank of India was conceptualized based on the guidelines presented by Dr. Ambedkar to the "Royal Commission on Indian Currency & Finance” in 1925; Commission members found DrB. R. Ambedkar’s book "The Problem of the Rupee- Its origin and Its Solution” an invaluable reference tool and the Central Legislative Assembly eventually passed these guidelines as the RBI Act 1934. The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, also known as the Hilton–Young Commission. The original choice for the seal of RBI was The East India Company Double Mohur, with the sketch of the Lion and Palm Tree. However it was decided to replace the lion with the tiger, the national animal of India. The Preamble of the RBI describes its basic functions to regulate the issue of bank notes, keep reserves to secure monetary stability in India, and generally to operate the currency and credit system in the best interests of the country. The Central Office of the RBI was established in Calcutta (now Kolkata), but was moved to Bombay (now Mumbai) in 1937. The RBI also acted as Burma's central bank, except during the years of the Japanese occupation of Burma (1942–45), until April 1947, even though Burma seceded from the Indian Union in 1937. After the Partition of India in 1947, the bank served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a shareholders’ bank, the RBI has been fully owned by the Government of India since its nationalization in 1949.

Structure of RBI

The Central Board of Directors is the main committee of the Central Bank. The Government of India appoints the directors for a 4-year term. The Board consists of a Governor, and not more than 4 Deputy Governors, 4  Directors to represent the regional boards, 2 from the Ministry of Finance and 10 other directors from various fields. RBI wants to create a post of Chief Operating Officer (COO) and re-allocate work between the five of them(4 Deputy Governor and COO).
The bank is headed by the Governor and the post is currently held by economist Raghuram Rajan. There are 4 Deputy Governors H R Khan, Dr. Urjit Patel, R Gandhi and S S Mundra. Two of the four Deputy Governors are traditionally from RBI ranks, and are selected from the Bank's Executive Directors. One is nominated from among the Chairpersons of public sector banks and the other is an economist.

Functions
  • Financial Supervision
  • Regulator and supervisor of the financial system
  • Managerial of exchange control
  • Issue of currency
  • Banker's bank
  • Detection of fake currency
  • Developmental role

Policy rates and reserve ratios

Bank rate

  • RBI lends to the commercial banks through its discount window to help the banks meet depositors' demands and reserve requirements for long term. The interest rate the RBI charges the banks for this purpose is called bank rate.

Cash Reserve Ratio (CRR)

  • Every commercial bank has to keep certain minimum cash reserves with Reserve Bank of India. Consequent upon amendment to sub-Section 42(1), the Reserve Bank, having regard to the needs of securing the monetary stability in the country, RBI can prescribe Cash Reserve Ratio (CRR) for scheduled banks without any floor rate or ceiling rate.

Statutory liquidity ratio (SLR)

  • Apart from the CRR, banks are required to maintain liquid assets in the form of gold, cash and approved securities. Higher liquidity ratio forces commercial banks to maintain a larger proportion of their resources in liquid form and thus reduces their capacity to grant loans and advances, thus it is an anti-inflationary impact.

Repo Rate

  • Rate at which banks borrow money from RBI is called Repo Rate.

Reverse Repo Rate


  • Rate at which RBI borrow money from banks is called Repo Rate.

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THE HINDU EDITORIAL: JUNE' 2017

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THE HINDU EDITORIAL: 30, JUNE 2017

THE HINDU EDITORIAL


The plains truth

Two months after the first phase of local elections, Nepal has completed the second, and more tricky, phase. This week’s polling in provinces in the Terai plains and in the far-eastern and far-western parts completed the first elections to local bodies in two decades. In the first phase, the Communist Party of Nepal (Unified Marxist-Leninist) was in the lead, winning the highest number of councils and wards, with the Nepali Congress coming a distant second. The UML had steadfastly opposed any change to the Constitution finalized in 2015, specifically amendments that would allow a redrawing of the provinces, as demanded by the plains-dwellers, the Madhesis. This approach helped it strengthen its “nationalist” image in the hills. The second phase has been a more difficult proposition for the UML. Voter turnout in this phase was close to 70.5%, while it was 74% in the first phase. The high turnout, despite incidents of violence in areas that went to the polls on Wednesday, indicates a grassroots yearning for inclusion and the deepening of democratic institutions. Among the Madhesi parties, the newly formed Rashtriya Janata Party-Nepal boycotted the polls as its demand for amendments to be made to the Constitution before the polls was not met. But sensing the public mood for participation, it fielded independent candidates in order to consolidate support. The state restructuring demand had been articulated during the jan andolans (popular struggles) of 2006. The demand for federalization was repeated in the agitations in the Terai in 2015, which had led to an economic blockade of the valley by the plains-dwellers. But despite these agitations, the issue remains unresolved as strident opposition by the UML has prevented any consensus over amendments that would realign the provinces so that the Madhesis are in a majority in more provinces than those delineated in 2015. For the Madhesis, federalization is a desperate demand for recognition and inclusion, as the hill elite dominates the various layers of the government, the bureaucracy and the security forces. The threat of an electoral boycott was meant to be a pressure tactic to get the Central government led by the Nepali Congress and the Communist Party of Nepal (Maoist Centre) to live up to the promises of pushing for the requisite amendments in Parliament. But as the local elections were widely welcomed by the electorate, including the plains-dwellers, this was a self defeating step. This is why two other Madhesi forces —the Federal Socialist Forum and the Madhesi Janadhikar Forum Loktantrik — decided to participate in the elections. However, the three big parties — the UML, the Congress and the Maoists — should not misread the high participation level as marking a change in outlook in the plains on state restructuring. Madhesi faith in democracy must be secured with the promised amendments.

A welcome sale
With the Union Cabinet’s ‘in-principle’ approval for the sale of Air India and five of its subsidiaries, a long-standing demand on the reform checklist has been ticked. The rationale for the government to shovel in huge sums of money to keep the loss making airline afloat was weakening by the year. Today, such life support, as Finance Minister Arun Jaitley recently noted, was being given when competing private airlines already cater to well over 85% of the air travel demand in the country. Government money that keeps Air India from goingbankrupt would be much better used to fund important social and infrastructure programmes that are starved of precious capital each year. Air India has been surviving on a ₹30,000-crore bailout package put together by the United Progressive Alliance government in 2012 to help its turnaround, and the debt relief provided by public sector banks. The airline has a debt load of over ₹50,000 crore on its books, and it is estimated that even a well-executed asset sale may not fully cover its present liabilities. So in the event of a sale, taxpayers may have to foot at least some part of the loss — either directly in case the government pays of the airline’s creditors, or indirectly if the public sector banks write of their loans to the airline. However, it is more likely that the government may divest its three profit-making subsidiaries separately, with the proceeds going to Air India to help deal with its liabilities. It is not yet clear whether the airline will be fully privatised or how its eventual sale will be executed. A ministerial panel under Mr. Jaitley is expected to begin working on the details soon. But having taken the politically courageous decision to privatise Air India, the government would do well to go for the sale of its entire stake, even if it is done in a gradual manner. Eventually, the aim of the sale should be to get the best price for the airline. One good way to achieve this would be to allow both domestic and foreign buyers to bid freely for stakes. For this, the government will have to re-tune its FDI policy to allow foreign investors to buy a stake in Air India. The Civil Aviation Ministry has made a case for the sale of non-core assets first to pay off existing creditors, so that the airline becomes more attractive to private buyers. But this assumes that private buyers would not otherwise see the value in Air India’s assets. IndiGo has already expressed interest in buying a stake in Air India, with other domestic airlines reported to be serious about making a bid too. Finding a way to deal with Air India’s debt load will be the main challenge for Mr. Jaitley’s panel. How this process goes will be vital not just for Air India. If it goes relatively smoothly, that would make the task of moving forward on the disinvestment of other public sector units that much easier.


VOCABULARY
1) Rationale
Meaning: A set of reasons or a logical basis for a course of action or belief.
Example: He explained the rationale behind the change.
Synonyms: Reasoning, Thinking
2) Shovel
Meaning: Move (coal, earth, snow, or similar) with a shovel.
Example: She shovelled coal on the fire.
Synonyms: Move, Shift, Heap
3) Afloat
Meaning: Floating in water; not sinking.
Example: They trod water to keep afloat.
Synonyms: Buoyant, Floating
Antonyms: Sunk, Sinking
4) Cater
Meaning: Provide people with food and drink at a social event or other gathering.
Example: My mother helped to cater for the party.
Synonyms: Feed, Serve
5) Bankrupt
Meaning: (Of a person or organization) declared in law as unable to pay their debts.
Example: His father went bankrupt and the family had to sell their home.
Synonyms: Insolvent, Failed
Antonyms: Solvent
6) Turnaround
Meaning: An abrupt or unexpected change, especially one that results in a more favourable situation.
Example: It was a remarkable turnaround in his fortunes.
7) Bid
Meaning: Utter (a greeting or farewell) to.
Example: James bade a tearful farewell to his parents.
Synonyms: Wish, Require
8) Steadfastly
Meaning: In a resolutely or dutifully firm and unwavering manner.
Example: The manager steadfastly refused the offer.
9) Turnout
Meaning: The number of people attending or taking part in an event, especially the number of people voting in an election.
Example: We reckon that thirty-five per cent is a good turnout for local elections.
Synonyms: Attendance, Audience
10) Yearning
Meaning: A feeling of intense longing for something.
Example: He felt a yearning for the mountains.
Synonyms: Craving, Desire, Want
11) Boycotted
Meaning: Withdraw from commercial or social relations with (a country, organization, or person) as a punishment or protest.
Example: We will boycott all banks which take part in the loans scheme.
Synonyms: Spurn, Snub
12) Consolidate
Meaning: Combine (a number of things) into a single more effective or coherent whole.
Example: All manufacturing activities have been consolidated in new premises.
Synonyms: Combine, Unite, Merge
13) Agitations
Meaning: A state of anxiety or nervous excitement.
Example: She was wringing her hands in agitation.
Synonyms: Anxiety, Perturbation
Antonyms: Calmness, Relaxation
14) Strident
Meaning: (Of a sound) Loud and harsh; Grating.
Example: His voice had become increasingly strident.
Synonyms: Harsh, Raucous
Antonyms: Soft, Dulcet
15) Elite
Meaning: A select group that is superior in terms of ability or qualities to the rest of a group or society.
Example: The elite of Britain’s armed forces.
Synonyms: Best, Pick
Antonyms: Dregs
16) Bureaucracy
Meaning: A system of government in which most of the important decisions are taken by state officials rather than by elected representatives.
Example: The unnecessary bureaucracy in local government.
Synonyms: Civil service, Administration

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CURRENT AFFAIRS JULY MONTH


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CURRENT AFFAIRS JUNE MONTH

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Current Affairs June 30, 2017

1. China Is Building The World's 1st Vertical 'Forest City'
China is building a forest city covered in tree to act like one giant air filter.
The complex will span about a kilometre along the Liujiang River, with office buildings, apartments, schools, and hotels, all engulfed by around 40,000 trees and more than a million plants.
The aim is to have the green towers soak up the air pollution in the area and produce clean oxygen, encouraging the growth of other local flora in the process.

2. Kingdom of Saudi Arabia to Implement Energy Efficiency Programmes
Energy Efficiency Services Limited (EESL), under the administration of Ministry of Power, has signed a Memorandum of Understanding (MoU) with National Energy Services Company, Kingdom of Saudi Arabia to implement energy efficiency programmes and scale-up demand side measures in the Gulf country.
As per the MoU, EESL will provide consultancy and expand the capacity of the National Energy Services Company, which is instituted by the Kingdom of Saudi Arabia, to execute energy efficiency programmes.
The move comes in the wake of the Arab Kingdom working ardently towards reducing its power subsidies and introducing energy efficiency initiatives.

3. Dr Jitendra Singh launches new training programme ‘COMMIT’
The Minister of State for Development of North Eastern Region (I/C), Prime Minister’s Office, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh launched a new training programme Comprehensive Online Modified Modules on Induction Training (COMMIT) for State Government officials.
The objective of this training programme is to improve the public service delivery mechanism and provide citizen centric administration through capacity building of officials who interact with the citizens on day-to-day basis.
Dr. Jitendra Singh said that the new training programme will supplement the earlier training programme and the advantage of COMMIT is that it is cost effective and has the potential to cover about 3.3 lakh officials annually, compared to 10,000 officials under existing 12-Day Induction Training Programme (ITP).

4. National Statistics Day: 29 June
In recognition of the notable contributions made by Late Professor Prasanta Chandra Mahalanobis in the fields of statistics, statistical system and economic planning, Government of India in 2007, designated 29thJune the birth anniversary of Prof. Mahalanobis. as the “Statistics Day” in the category of Special Days to be celebrated every year at the National level.
The objective of celebration of this Day is to create public awareness about the importance of statistics in socio-economic planning and policy formulation, to acknowledge the contribution of Prof. Mahalanobis and to pay homage to him.
‘Administrative Statistics’ is this year’s theme for the Statistics Day.

5. India 1st country to give to UN Tax Fund with $100,000 contribution 
India has contributed $100,000 to a UN fund to help developing countries actively participate in the discussion of tax issues, becoming the first country to make the contribution.
The UN Tax Trust Fund aims to support the work of the Committee of Experts on International Cooperation in Tax Matters (the UN Tax Committee).
Voluntary contributions for the fund have been called for by the UN and the committee since its establishment in 2006.

6. India's largest container port JNPT hit by ransomware
The government has confirmed that one of the terminals at the Jawahar Lal Nehru Port has been impacted by the latest malware attack.
AP Moller-Maersk, one of the affected entities globally, operates the Gateway Terminals India (GTI) at JNPT, which has a capacity to handle 1.8 million standard container units.
New ransomware virus called Petya has hit 17 APM terminals, including two in Rotterdam and 15 in other parts of the world.
APM Terminals is a subsidiary of shipping giant Maersk, which has confirmed that it is suffering from a cyber attack.

7. TN to set up Rs 2350 cr solar photovoltaic power park
The Tamil Nadu government has proposed a series of new initiatives in various sectors, including energy and power, running into many thousands of crores of rupees.
Among the announcements made in the energy sector, the chief minister said the government will set up an Ultra Mega Solar Photovoltaic Power Park in Ramanathapuram district at an estimated cost of Rs 2350 crore.

8. Shamma Jain appointed Indian envoy to Greece
Senior diplomat Shamma Jain was appointed as India's ambassador to Greece.
A 1983-batch Indian Foreign Service officer, Jain is currently serving as Indian envoy to Panama.
Jain succeeds M Manimekalai as Indian envoy in Greece.
She had earlier served as ambassador to Cote d'Ivoire.

9. Hyderabad-based TS Vineeth Bhatt conferred with the 'best astrologer of world' award
Astrologer and numerologist TS Vineeth Bhatt has been conferred with the 'Best astrologer of the world' award at the 'Russian-Indian economic dialogue' round-table meet held in Moscow.
Bhatt, 37, is from Kerala and lives in Bowenpally. Three generations of his family have been practising astrology.
He is a personal astrologer to ministers, ambassadors, senators across the globe.

10. Singer Sabita Chowdhury passes away
Eminent singer Sabita Chowdhury died after a five-month battle with cancer. She was 72.
Many of her Bengali songs have retained their charm among the public through the decades.
She also did playback for a number of Bengali and Hindi films.
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