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Indian Banking Industry
- January 2001
- Region: India
- 53 pages
- Scope eKnowledge Center Pvt Ltd
The Indian Banking industry, which is governed by the Banking Regulation Act of India, 1949 can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled banks comprise commercial banks and the co-operative banks. In terms of ownership, commercial banks can be further grouped into nationalized banks, the State Bank of India and its group banks, regional rural banks and private sector banks (the old/ new domestic and foreign). These banks have over 67,000 branches spread across the country.
The first phase of financial reforms resulted in the nationalization of 14 major banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of banks. Every bank had to earmark a minimum percentage of their loan portfolio to sectors identified as "priority sectors". The manufacturing sector also grew during the 1970s in protected environs and the banking sector was a critical source. The next wave of reforms saw the nationalization of 6 more commercial banks in 1980. Since then the number of scheduled commercial banks increased four-fold and the number of bank branches increased eight-fold.
After the second phase of financial sector reforms and liberalization of the sector in the early nineties, the Public Sector Banks (PSB) s found it extremely difficult to compete with the new private sector banks and the foreign banks. The new private sector banks first made their appearance after the guidelines permitting them were issued in January 1993. Eight new private sector banks are presently in operation. These banks due to their late start have access to state-of-the-art technology, which in turn helps them to save on manpower costs and provide better services.
During the year 2000, the State Bank Of India (SBI) and its 7 associates accounted for a 25 percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2 percent of the deposits and 47.5 percent of credit during the same period. The share of foreign banks (numbering 42), regional rural banks and other scheduled commercial banks accounted for 5.7 percent, 3.9 percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14 percent and 12.85 percent respectively in credit during the year 2000.
Current Scenario
The industry is currently in a transition phase. On the one hand, the PSBs, which are the mainstay of the Indian Banking system are in the process of shedding their flab in terms of excessive manpower, excessive non Performing Assets (Npas) and excessive governmental equity, while on the other hand the private sector banks are consolidating themselves through mergers and acquisitions.
PSBs, which currently account for more than 78 percent of total banking industry assets are saddled with NPAs (a mind-boggling Rs 830 billion in 2000), falling revenues from traditional sources, lack of modern technology and a massive workforce while the new private sector banks are forging ahead and rewriting the traditional banking business model by way of their sheer innovation and service. The PSBs are of course currently working out challenging strategies even as 20 percent of their massive employee strength has dwindled in the wake of the successful Voluntary Retirement Schemes (VRS) schemes.
The private players however cannot match the PSB's great reach, great size and access to low cost deposits. Therefore one of the means for them to combat the PSBs has been through the merger and acquisition (M& A) route. Over the last two years, the industry has witnessed several such instances. For instance, Hdfc Bank's merger with Times Bank Icici Bank's acquisition of ITC Classic, Anagram Finance and Bank of Madura. Centurion Bank, Indusind Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The UTI bank- Global Trust Bank merger however opened a pandora's box and brought about the realization that all was not well in the functioning of many of the private sector banks.
Private sector Banks have pioneered internet banking, phone banking, anywhere banking, mobile banking, debit cards, Automatic Teller Machines (ATMs) and combined various other services and integrated them into the mainstream banking arena, while the PSBs are still grappling with disgruntled employees in the aftermath of successful VRS schemes. Also, following India's commitment to the W To agreement in respect of the services sector, foreign banks, including both new and the existing ones, have been permitted to open up to 12 branches a year with effect from 1998-99 as against the earlier stipulation of 8 branches.
Talks of government diluting their equity from 51 percent to 33 percent in November 2000 has also opened up a new opportunity for the takeover of even the PSBs. The FDI rules being more rationalized in Q1FY02 may also pave the way for foreign banks taking the M& A route to acquire willing Indian partners.
Meanwhile the economic and corporate sector slowdown has led to an increasing number of banks focusing on the retail segment. Many of them are also entering the new vistas of Insurance. Banks with their phenomenal reach and a regular interface with the retail investor are the best placed to enter into the insurance sector. Banks in India have been allowed to provide fee-based insurance services without risk participation, invest in an insurance company for providing infrastructure and services support and set up of a separate joint-venture insurance company with risk participation.
Aggregate Performance of the Banking Industry
Aggregate deposits of scheduled commercial banks increased at a compounded annual average growth rate (Cagr) of 17.8 percent during 1969-99, while bank credit expanded at a Cagr of 16.3 percent per annum. Banks' investments in government and other approved securities recorded a Cagr of 18.8 percent per annum during the same period.
In FY01 the economic slowdown resulted in a Gross Domestic Product (GDP) growth of only 6.0 percent as against the previous year's 6.4 percent. The WPI Index (a measure of inflation) increased by 7.1 percent as against 3.3 percent in FY00. Similarly, money supply (M3) grew by around 16.2 percent as against 14.6 percent a year ago.
The growth in aggregate deposits of the scheduled commercial banks at 15.4 percent in FY01 percent was lower than that of 19.3 percent in the previous year, while the growth in credit by SCBs slowed down to 15.6 percent in FY01 against 23 percent a year ago.
The industrial slowdown also affected the earnings of listed banks. The net profits of 20 listed banks dropped by 34.43 percent in the quarter ended March 2001. Net profits grew by 40.75 percent in the first quarter of 2000-2001, but dropped to 4.56 percent in the fourth quarter of 2000-2001.
On the Capital Adequacy Ratio (CAR) front while most banks managed to fulfill the norms, it was a feat achieved with its own share of difficulties. The CAR, which at present is 9.0 percent, is likely to be hiked to 12.0 percent by the year 2004 based on the Basle Committee recommendations. Any bank that wishes to grow its assets needs to also shore up its capital at the same time so that its capital as a percentage of the risk-weighted assets is maintained at the stipulated rate. While the IPO route was a much-fancied one in the early '90s, the current scenario doesn't look too attractive for bank majors.
Consequently, banks have been forced to explore other avenues to shore up their capital base. While some are wooing foreign partners to add to the capital others are employing the M& A route. Many are also going in for right issues at prices considerably lower than the market prices to woo the investors.
Interest Rate Scene
The two years, post the East Asian crises in 1997-98 saw a climb in the global interest rates. It was only in the later half of FY01 that the US Fed cut interest rates. India has however remained more or less insulated. The past 2 years in our country was characterized by a mounting intention of the Reserve Bank Of India (RBI) to steadily reduce interest rates resulting in a narrowing differential between global and domestic rates.
The RBI has been affecting bank rate and CRR cuts at regular intervals to improve liquidity and reduce rates. The only exception was in July 2000 when the RBI increased the Cash Reserve Ratio (CRR) to stem the fall in the rupee against the dollar. The steady fall in the interest rates resulted in squeezed margins for the banks in general.
Governmental Policy
After the first phase and second phase of financial reforms, in the 1980s commercial banks began to function in a highly regulated environment, with administered interest rate structure, quantitative restrictions on credit flows, high reserve requirements and reservation of a significant proportion of lendable resources for the priority and the government sectors. The restrictive regulatory norms led to the credit rationing for the private sector and the interest rate controls led to the unproductive use of credit and low levels of investment and growth. The resultant 'financial repression' led to decline in
productivity and efficiency and erosion of profitability of the banking sector in general.
This was when the need to develop a sound commercial banking system was felt. This was worked out mainly with the help of the recommendations of the Committee on the Financial System (Chairman: Shri M. Narasimham), 1991. The resultant financial sector reforms called for interest rate flexibility for banks, reduction in reserve requirements, and a number of structural measures. Interest rates have thus been steadily deregulated in the past few years with banks being free to fix their Prime Lending Rates(PLRs) and deposit rates for most banking products. Credit market reforms included introduction of new instruments of credit, changes in the credit delivery system and integration of functional roles of diverse players, such as, banks, financial institutions and non-banking financial companies (Nbfcs). Domestic Private Sector Banks were allowed to be set up, PSBs were allowed to access the markets to shore up their Cars.
Implications Of Some Recent Policy Measures
The allowing of PSBs to shed manpower and dilution of equity are moves that will lend greater autonomy to the industry. In order to lend more depth to the capital markets the RBI had in November 2000 also changed the capital market exposure norms from 5 percent of bank's incremental deposits of the previous year to 5 percent of the bank's total domestic credit in the previous year. But this move did not have the desired effect, as in, while most banks kept away almost completely from the capital markets, a few private sector banks went overboard and exceeded limits and indulged in dubious stock market deals. The chances of seeing banks making a comeback to the stock markets are therefore quite unlikely in the near future.
The move to increase Foreign Direct Investment FDI limits to 49 percent from 20 percent during the first quarter of this fiscal came as a welcome announcement to foreign players wanting to get a foot hold in the Indian Markets by investing in willing Indian partners who are starved of networth to meet CAR norms. Ceiling for FII investment in companies was also increased from 24.0 percent to 49.0 percent and have been included within the ambit of FDI investment.
The abolishment of interest tax of 2.0 percent in budget 2001-02 will help banks pass on the benefit to the borrowers on new loans leading to reduced costs and easier lending rates. Banks will also benefit on the existing loans wherever the interest tax cost element has already been built into the terms of the loan. The reduction of interest rates on various small savings schemes from 11 percent to 9.5 percent in Budget 2001-02 was a much awaited move for the banking industry and in keeping with the reducing interest rate scenario, however the small investor is not very happy with the move.
Some of the not so good measures however like reducing the limit for tax deducted at source (TDS) on interest income from deposits to Rs 2,500 from the earlier level of Rs 10,000, in Budget 2001-02, had met with disapproval from the banking fraternity who feared that the move would prove counterproductive and lead to increased fragmentation of deposits, increased volumes and transaction costs. The limit was thankfully partially restored to Rs 5000 at the time of passing the Finance Bill in the Parliament.
April 2001-Credit Policy Implications
The rationalization of export credit norms in will bestow greater operational flexibility on banks, and also reduce the borrowing costs for exporters. Thus this move could trigger exports growth in the future. Banks can also hope to earn increased revenue with the interest paid by RBI on CRR balances being increased from 4.0 percent to 6.0 percent.
The stock market scam brought out the unholy nexus between the Cooperative banks and stockbrokers. In order to usher in greater prudence in their operations, the RBI has barred Urban Cooperative Banks from financing the stock market operations and is also in the process of setting up of a new apex supervisory body for them. Meanwhile the foreign banks have a bone to pick with the RBI. The RBI had announced that forex loans are not to be calculated as a part of Tier-1 Capital for drawing up exposure limits to companies effective 1 April 2002. This will force foreign banks either to infuse fresh capital to maintain the capital adequacy ratio (CAR) or pare their asset base. Further, the RBI has also sought to keep foreign competition away from the nascent net banking segment in India by allowing only Indian banks with a local physical presence, to offer Internet banking
Crystal Gazing
On the macro economic front, GDP is expected to grow by 6.0 to 6.5 percent while the projected expansion in broad money (M3) for 2001-02 is about 14.5 percent. Credit and deposits are both expected to grow by 15-16 percent in FY02. India's foreign exchange reserves should reach US$50.0 billion in FY02 and the Indian rupee should hold steady.
The interest rates are likely to remain stable this fiscal based on an expected downward trend in inflation rate, sluggish pace of non-oil imports and likelihood of declining global interest rates. The domestic banking industry is forecasted to witness a higher degree of mergers and acquisitions in the future. Banks are likely to opt for the universal banking approach with a stronger retail approach. Technology and superior customer service will continue to be the imperatives for success in this industry.
Public Sector banks that imbibe new concepts in banking, turn tech savvy, leaner and meaner post VRS and obtain more autonomy by keeping governmental stake to the minimum can succeed in effectively taking on the private sector banks by virtue of their sheer size. Weaker PSU banks are unlikely to survive in the long run. Consequently, they are likely to be either acquired by stronger players or will be forced to look out for other strategies to infuse greater capital and optimize their
Foreign banks are likely to succeed in their niche markets and be the innovators in terms of technology introduction in the domestic scenario. The outlook for the private sector banks indeed looks to be more promising vis-à-vis other banks. While their focused operations, lower but more productive employee force etc will stand them good, possible acquisitions of PSU banks will definitely give them the much needed scale of operations and access to lower cost of funds. These banks will continue to be the early technology adopters in the industry, thus increasing their efficiencies. Also, they have been amongst the first movers in the lucrative insurance segment. Already, banks such as Icici Bank and Hdfc Bank have forged alliances with Prudential Life and Standard Life respectively. This is one segment that is likely to witness a greater deal of action in the future. In the near term, the low interest rate scenario is likely to affect the spreads of majors. This is likely to result in a greater focus on better asset-liability management procedures. Consequently, only banks that strive hard to increase their share of fee-based revenues are likely to do better in the future. SHOW LESS READ MORE >

BACKGROUND 6
Segmentation of the Industry 6
Increased Competition- The Order Of The Day 7
Public Sector Banks –Still The Mainstay 8
Evolution of the Industry 8
The Role of the Central bank In India 9
Importance Of The Sector 9

GLOBAL SCENARIO 10
Interest Rate Scenario-Global And Its Effects In India 10
Recent Crises 11
Indian Players abroad 13

GOVERNMENT POLICIES 14
Narasimham Committee Report II- The Second Phase of Reforms 14
Verma Committee Report on Weak Banks 16
Reduction of PPF and Small Savings Rates- Continuation of Reforms 16
Bank Equity Dilution To 33.0 percent 17
Capital Market Exposures Norms And Implications 17
Bank Exposure Limits To Individual Corporates And Business Groups 18
Rationalization Of Foreign Direct Investment (FDI) norms 18
Highlights Of The New Guidelines To Set Up Banks 19
New Guidelines On Income-Recognition For Banks 19
Multiple Banking Ground Rules 19
RBI Tightens Bullion Trading Norms For Banks 20
Net Banking Norms 20
Union Budget 2001-02 20
Stance of Monetary Policy for 2001-02 21
Implications Of The Major Government Policies 23

CURRENT SCENARIO 24
Performance Of Major Macro Indicators 24
Market Size In Terms of Deposits And Credit 25
Financing the Government 27
Performance Of Major Segments In Fiscal 2001 29
Sectoral and Industry-wise Deployment of Gross Bank Credit (Changes) 30
Trends in rural and urban lending. 30
Segment-wise Analysis of Performance and Strategies 31
Subsidiaries Of Banks And Their Role 40
Important Indicators in Banking 41
Asset Related Ratios 43
Recent Trends 45
Narasimhan Committee report- On M&A 47


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$540 million in La. coast money jumps last hurdle
Published: Saturday, July 30, 2005 at 6:01 a.m.
Last Modified: Friday, July 29, 2005 at 11:00 p.m.
HOUMA -- The U.S. Senate approved the final version of nation's energy bill, including $1 billion in coastal impact assistance for Louisiana and other coastal oil- and gas-producing states by a vote of 74 to 26 Friday.
President Bush is expected to sign the bill into law within 10 days, according to local senators.
The measure allocated $250 million per year for fiscal years 2007 through 2010 for Louisiana, Texas, Mississippi, Alabama, Alaska and California.
With money to be distributed based on coastal resources production, Louisiana will receive the lion's share, $540 million ($135 million per year) or 54 percent of federal dollars given to save state's vanishing coastlines.
Under a provision that directs money to coastal parishes most impacted by coastal erosion, parishes such as Terrebonne and Lafourche will receive 35 percent of Louisiana's share.
Terrebonne Parish would receive more than $3.2 million a year for a total of more than $12.8 million.
Lafourche would receive more than $2.4 million a year for a total of more than $9.7 million over the four-year period.
"This isn't all the money we need to stop coastal erosion, but it's a start and I'm very happy about it and grateful to our delegation and our governor, who worked so hard on this," Kerry St. Pe', director of the Barataria-Terrebonne National Estuary Program.
"The most important thing is that we have to be careful how we spend the money. This was fought for so long and so hard that we will be watched very carefully to make sure that we are doing the right thing. If we do make good use of the money, it could mean even more money down the line."
St. Pe' said he would like to see much of the money spent to build platforms along the coast where vegetation could be grown and for protective water diversion projects.
"To get to the point where we can be sure that we can continue to live here, we have to work at building new wetlands," he said.
U.S. Rep. Charlie Melancon, D-Napoleonville, who helped pass a House version of the energy bill in April, said he feels the measure marks the beginning or recognition in Congress that Louisiana's wetlands are a national treasure to be preserved.
"I think that Congress is starting to realize that it's really America's wetlands and not just the state of Louisiana's wetlands that are in danger," he said.
While Melancon agreed more money is needed to stop coastal erosion, he also praised members of the U.S. Senate for acting on a "great first step," especially Sen. Mary Landrieu, D-La.
"She has been working hard since 1997 on this. If we didn't have people fighting for this in both bodies of Congress than this wouldn't have happened. Even though we need more money, it's hard to be negative when you see something pass that has failed so much."
Sen. David Vitter, R-La., also had high praise for Landrieu.
"This has passed the House before, but has always been killed in the Senate. Mary and I worked hard to reach out to out colleagues, she mostly on the Democrat side and me on the Republican side, to build bipartisan support for this and it worked," he said.
Vitter cautioned parishes to spend the money wisely; sticking to plans to stop coastal erosion already created by the state.
"The money needs to be spent very carefully and wisely or this could hurt chances to get money in the future," Vitter said.
St. Pe' said he hopes that he hopes state and parish governments will recognize how closely spending will be watched and will make the right choices.
"This is a great day and everyone should be pleased, but we shouldn't forget that we are now under the microscope," he said.
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PRO Research
Crown Holdings Is A Low-Risk Value Play With Catalyst
Alpha Gen Capital
Alpha Gen Capital
How Crown Holdings Benefits From A Ball/Rexam Merger
Value Vista UK
Value Vista UK
Crown Holdings: Boring, Safe, And Hugely Profitable
Value Vista UK • 19 Comments
Value Vista UK • 19 Comments
Feb. 18, 2015, 2:25 PM
- Ball Corp. (BLL +2.4%) is close to a deal to purchase U.K. rival Rexam and could be announced as early as this week, WSJ reports, in a move that would create the world's largest beverage can maker.
- The companies said earlier this month they were negotiating a cash-and-share offer that would value Rexam at ~£4B ($6.2B), but some analysts pointed to regulatory concerns as an impediment to a deal.
- A combination would leave its nearest rival, Crown Holdings (CCK +3.1%), trailing with 19% market share.
Feb. 5, 2015, 8:37 AM
- Ball Corp. (NYSE:BLL) +4% premarket after confirming it is in talks about buying U.K.-based rival Rexam, a move that would combine two of the world's biggest can makers.
- Rexam says the two companies are discussing a possible share and cash offer worth ~610 pence/share, which would value it at more than £4B ($6B).
- Rexam and Ball, together with Crown Holdings (NYSE:CCK), account for more than 60% of global beverage can volumes, and nearly 90% in Europe, North and South America.
- Earlier: Ball misses by $0.01, beats on revenue
Sep. 24, 2013, 4:32 PM
- Crown Holdings (CCK) -4.6% AH after issuing downside Q3 guidance, lowering expected EPS to $1.05-$1.10 from $1.15-$1.25 vs. $1.21 analyst consensus.
- The revised outlook reflects lower than expected end-user demand in certain of CCK's markets, including European food cans and North American beverage cans.
- CCK expects to record an after-tax restructuring charge of ~$32M, or $0.21/share, in Q3, reflecting headcount reduction across its European operations.
Apr. 17, 2013, 5:45 PM
Apr. 17, 2013, 5:07 PMCrown Holdings (CCK): Q1 EPS of $0.5 beats by $0.01. Revenue of $1.97B misses by $0.05B. Shares -3.7% AH. (PR) | Apr. 17, 2013, 5:07 PM
Dec. 14, 2011, 1:16 PM
Oct. 19, 2011, 10:27 AM
Crown Holdings (CCK) tacks on a 3.3% gain after beating estimates on Q3 EPS by two cents. Strong demand for the company's food products in Brazil and Asia helped push the company's percentage of sales outside the U.S. to 73%.| Oct. 19, 2011, 10:27 AM
Company Description
Crown Holdings, Inc. is engaged in designing, manufacturing and sales of packaging products for consumer goods. The company's primary products include steel and aluminum cans for food, beverage, household and other consumer products and metal vacuum closures and caps. These products are... More
Sector: Consumer Goods
Industry: Packaging & Containers
Country: United States
Other News & PR
See More »


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LHS baseball wins second straight
Lawrence High shut out Olathe East Tuesday to claim its second straight victory. The Lions won the contest 6-0.
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UJIA praises Leslie Silver's support
May 2, 2008
Stalwart Zionist Leslie Silver has received a certificate for 60 years' support of Israel. Unable to attend a recent UJIA fundraiser when a presentation ceremony was due to be held, the former Leeds United chairman was presented with the award at his Alwoodley home. Howard Foreman, UJIA North East regional director, said: "Mr Silver has done incredible work for Israel." Born in London in 1925, Mr Silver moved to Leeds in 1940.
Last updated: 5:36pm, July 13 2009


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Superb aerial shot of this massive data center. It's located on the Columbia River to provide coolant water to the container pods full of servers inside the buildings. See excellent Google-produced video on YouTube at: http://www.youtube.com/watch?v=zRwPSFpLX8I
Impresionante vista aérea. Gracias por indicar el video.
Photo taken in City of The Dalles, OR, USA


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On one of our website, we are using 3 instances of this widget to display post in 3 different categories.
We have enabled Dispay Date option for all 3 of them. However, the date only appears in the 1st instance of the widget. It is blank for the other 2 instances... here it only shows: Date Posted: {blank space}
I will appreciate if you can help fix this issue.


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From Our Editors
Most people squeeze honey into milk because they want a rich, soothing drink. At Tranquility Spa, the staff uses the concoction to create organic footbaths for their pedicures. This sort of pampering is felt elsewhere, too. The massage therapists mash stress with Swedish or deep-tissue kneads and optional cold stones, and the aestheticians revamp complexions during facials and microdermabrasions that fill each pore with a sparkly 24-carat diamond.


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Hogan Seeks Funds For High-Speed Train From Baltimore To WashingtonGovernor Hogan is seeking funds for a high-speed train that would run from Baltimore to Washington.
$5B Committed For Baltimore-D.C. High-Speed TrainA group that wants to put in a new high speed train between Baltimore and Washington, D.C. says they've already lined up $5 Billion to do it.
Baltimore Supertrain May Be Getting Closer To RealityJapan is making a big push for Baltimore. The prime minister wants to lend the federal government billions for a new high-speed rail system.
New Supertrain Could Get You From Baltimore To NYC In An HourIt's expensive, runs at more than 300 miles an hour and has the power to transform the East Coast.
D.C. Firm Continues Northeast Maglev Rail EffortA Washington firm is continuing efforts to bring high-speed, magnetic levitation trains to the region.


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Gf Tuna Casserole
Total Time
Prep 15 mins
Cook 30 mins
Here's a fairly traditional, creamy tuna casserole. I adapted this recipe from Tara's Recipezaar Tuna Casserole to make it gluten free and mild. You can try more onion and pepper if you're not a spice wimp like (pregnant) me. I included notes to help people new to gluten-free cooking and shopping.
Ingredients Nutrition
- 8 ounces shaped gluten-free pasta (like Ancient Harvest Quinoa Wheat Free or Bionature Gluten Free)
- 1 (15 ounce) can cream of celery soup, not condensed (like Health Valley, at Wild Oats. Avoid modified food starch and "flavorings.")
- 1⁄2 cup mayonnaise (like Smart Balance. Avoid modified food starch and "flavorings.")
- 3⁄4 cup evaporated milk
- 1 cup grated cheddar cheese, divided
- 1⁄2 cup finely chopped celery or 1⁄2 cup peas
- 1⁄4 small onion
- 4 ounces mushrooms, drained if canned. (optional. Avoid "flavorings.") (optional)
- 1⁄2 teaspoon black pepper
- 2 (6 ounce) cans tuna, drained (avoid "flavorings")
- Cook pasta until al dente. (Watch carefully; it may take significantly more or less time than the package says.).
- Preheat oven to 325 degrees F.
- Combine all ingredients except 1/2 cup cheese in a large casserole dish.
- Sprinkle reserved cheese over the top.
- Bake for 30 minutes.
- Serve hot.


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OWINGS MILLS, Md. -- Willis McGahee joined his teammates Monday at Baltimore's training complex after doctors told him he would make a full recovery from a fierce helmet-to-helmet hit in the AFC Championship Game that had him carted off the field.
"I'm all right. Everything is OK," the running back told reporters as the Ravens cleared out their lockers. "The MRI and the CAT scan checked out good. I was scared, but I didn't know how serious it was. It was pretty intense."
The play occurred in the fourth quarter of Pittsburgh's 23-14 victory. McGahee had just caught a pass and taken two steps before being met by safety Ryan Clark, who drove his helmet into McGahee's face mask. McGahee's head snapped back, and he lost the ball as he dropped to the ground.
"I didn't even see him coming," McGahee said.
Clark also collapsed, though it was immediately apparent that his injury wasn't serious. Players from both teams gathered around McGahee, who lay motionless before being taken away.
"I blacked out. I woke up when they were taking my face mask off," McGahee said. "I opened my eyes and I was talking. The next thing I knew I woke up in some room and they were taking me to the ambulance."
According to the Boston Globe, NFL spokesman Greg Aiello said Clark won't be fined for the hit.
"[McGahee] had completed the catch and was a runner," Aiello said, according to the Globe. "Helmet-to-helmet contact is legal in that situation as it is for any ball carrier [running back, quarterback, or receiver]. Helmet-to-helmet contact is prohibited against defenseless players [defined as a receiver in the process of making a catch or a quarterback in the act of passing]."
McGahee said he has a concussion and his neck is extremely sore. But he said he would be ready to go next season.
He hadn't watched the replay of the hit by late Monday afternoon, but his memory of the aftermath was vivid.
"I felt like I was OK when I was on the ground, regained consciousness and starting moving," he said. "But then they told me not to move, so I started to get a little worried. After we got inside they took X-rays and told me everything was OK."
As a precaution, McGahee was taken to UPMC Presbyterian Hospital for a CAT scan and MRI, then held overnight for observation. He was released early Monday morning and dropped by his home in Baltimore before attending a team meeting.
Starting at tailback in place of the banged-up Le'Ron McClain, McGahee ran for 60 yards and two touchdowns.
"I just wanted to make a difference in the football game. This was my first AFC Championship Game," he said.
Information from The Associated Press is included in this report


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DFL Congressman Rick Nolan says he's inclined to support a nuclear deal with Iran but still has some remaining questions. Read more →
MPR News Reporting on state politics and government
Tag: Michele Bachmann
Rep. Tom Emmer gave back $500 from Earl Holt III, who reportedly influenced the suspect in the killing of nine African-Americans at a Charleston, S.C., church. Read more →
Minnesota Democrats Rick Nolan, Collin Peterson and Tim Walz joined Republicans in supporting a bill that authorizes the pipeline and bypasses the State Department's approval process. Read more →
The newly-elected Republican congressman says there's a lot of information to digest in a short time period. Read more →
A day after report said she was interested in running, Bachmann says reporter missed the point. Read more →
U.S. Rep. Michele Bachmann said Tuesday that she may consider taking another run at the presidency in 2016. Read more →
Some thoughts about what this latest round of fundraising meant for Minnesota candidates. Read more →
WASHINGTON – A little more than a week after the surprise defeat of House Majority Leader Eric Cantor in a primary election, Republican members of the U.S. House Thursday picked a new Majority Leader and Whip in a rare midyear leadership shuffle. The current Majority Whip, Kevin McCarthy of California, won the backing of the Read more →
After a few hours of sleep, delegates have gathered again at the Rochester Mayo Civic Center, undecided on who will be their endorsed candidate for U.S. Senate. On the last ballot, St. Louis County Commissioner Chris Dahlberg was leading with 54 percent of the vote and Sunfish Lake businessman Mike McFadden had 44 percent of Read more →
Minnesota Democrats endorsed Sartell Mayor Joe Perske's campaign for the 6th District congressional seat Republican Rep. Michele Bachmann is leaving at the end of the year. Read more →


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… With units below RM800/sq ft, the condo is a bargain in view of its location, amenities, and the professional maintenance of the building.
The building looks a bit old. But I like it here because the community is nice. There are few grocery shops and restaurants laundry shops inside the condominium and I find this very convenient. It's quiet and nice to live in.
Nice, clean, tidy condominium with clean swimming pool and great security and building management. Surrounded by good transportation network and most importantly, traffic is usually smooth unless it is a public holiday, since there are tourist areas in the vicinity.


text: Anyone have a short & sweet protocol for PCR amplifying a region of human DNA (chromosomal or mt, I don't care) extracted from a buccal sample: including validated primer sequences and preferred method of DNA isolation from a buccal swab. I'm looking for a new exercise to run in my classroom. We would be able to follow the amplification up with Sanger sequencing, done in-house.


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Cornstarch Paste / Egg Substitute
Total Time
Prep 5 mins
Cook 0 mins
Here's a way to make the cornstarch paste called for in some of my recipes.
Ingredients Nutrition
- 44.37 ml cold water
- 14.79 ml cornstarch
- 14.79 ml cold water
- 4.92 ml cornstarch
- Some recipes call for cornstarch paste as the thickening agent without specifying the exact proportions of cornstarch and water.
- This recipe is offered as an approximate guide until you find what works best for you.
- Some cooks prefer the thin paste, some prefer thick.
- Thoroughly mix together cornstarch and cold water.
- Always stir mixture again just before using because the starch settles.
Most Helpful
I was going to make a cake and realized I only had 1 egg and I needed 3. I didn't want to go back to the store, so I ended here and it worked great. Thanks. The cake came out great.
What a time saver! I was baking to satisfy a dessert craving, and tried this instead of sending husband out to the store. I mixed the starch in with the dry ingredients, and the water in with the wet. Half an hour later we had dessert - and I couldn't tell the difference at all.


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"Los Roques" Top 5 Page for this destination Isla El Gran Roque by ezaguryk
Isla El Gran Roque Travel Guide: 114 reviews and 256 photos
Los Roques is one of the place that you must visit while you are visiting Venezuela. It is THE PARADISE The water is crystalline the sand is white and have a spetacular view.
You can take a day tour or expend the weekend, from caracas you go by plane and arrive to the EL GRAN ROQUE.
Here are a lot of place were you can Stay, I will recomend to stay in a POSADA (like a bed and breakfast)
At the small pier you can take a Pe�ero (small boats) or there is a Catamaran that make a tour (catamara a biger boat - I havent done it) the pe�ero will take you to the diferent keys . The most populars are Madriski y fransiski (are the one that are near to the Gran Roque), these are very nice however if you have time go to the one that are farder i will recomend since are much much beatiful and there is not so crowed.
Reviews (6)
In most of the places in the interior of Venezuela, it is important to take cash, since you do not find many places that... more travel advice
Protect your self from the sun (use a sunblock 15 to 40) or in the afternon hide under the umblela or in a shadow, take... more travel advice
When you are ariving by plane take you time a see al the key from the air more travel advice
Very good service, nice peolple, the instalation are very good and very clean. The food it is excelent!!!!!! The bed... more travel advice
Comments (7)
Los Roques looks lovely! I hope to visit a few days for scuba diving next year.
Just marvellous! I want to plan a trip to enezuela and, of course, Los Roques! I hope to do it as soon as posible!!!
Definitivamente debo regresar a Venezuela... tantas bellezas juntas en un mismo pa�s son demasiadas tentaciones! ;-))
Hi Life!nice photos of your's.sometimes one poem,in other one word or voice. Your Instruction is from real natural life as you have been living.Congrulations to you with my happy new year & Merry X-mas wishes in sincerely s e a l i f e
sorry kelly, but $120-180 is a bit expensive you mean for a single bed room?for one night?
Que lindas!!!! (-;
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San Diego Comic-Con 2016: All the Latest News
Today's Justice League panel at SDCC
The Justice League panel today at San Diego Comic-Con premiered the interior art for many of the books in the group part of DC Comics-The New 52. These included AQUAMAN, THE FLASH, MISTER TERRIFIC and THE SAVAGE HAWKMAN. Below, scroll through the gallery to see the new art that was shown today: [gallery link="file" order="DESC" columns="2"]
Today's Superman panel at SDCC
If you were at today's Superman panel at San Diego Comic-Con, you were treated to a first look into some of the art for the Superman group books in DC Comics-The New 52. But fret not if you weren't able to attend. We here on The Source have got you covered. Below, take a look at the art from ACTION COMICS, SUPERBOY, SUPERGIRL and SUPERMAN that debuted today:
Today's DC Comics-The New 52 panel at SDCC
During today's DC Comics-The New 52 panel at San Diego Comic-Con, attendees got a look at the first eight pages of JUSTICE LEAGUE #1.
DC Entertainment - SDCC Day One Recap
It doesn't matter if you're returning for your umpteenth visit or a first timer: The first day of the San Diego Comic-Con is sure to get you excited. Seeing so many talented and creative people - both the talent on hand and the people in attendance - in one place is truly a very cool experience.
"It isn't a gun. Ever heard of the Phantom Zone?"
When Neil Sinclair volunteered to become "Subject Zero" and serve as the military's lab-rat as they conducted experiments on him, he knew he would become the ultimate fighting machine.
Team Superman
Yesterday you got a first look at Jonathan Carroll, Lois Lane's new boyfriend in the upcoming SUPERMAN series part of DC Comics-The New 52.
"I'm going to outthink the greatest criminal mastermind the universe has ever seen."
Lost in the speed force, Kid Flash is trapped in a distorted future world. After a startling revelation, Bart Allen realizes he must surrender himself to the criminal mastermind, Braniac.
"You know the world's gone to hell when it's up to me to save it."
After saving the city from a monstrous attack by the Amazons, Hal Jordan has become a hero to the people of Coast City.
"The reporter has become part of the story."
While raiding London on a top-secret assignment, The Resistance falls under Amazonian attack. When they cross paths with Lois Lane, she becomes the newest member of the Resistance.
Today at 3:00 pm PST, DC Comics will host a Superman news panel in room Room 6DE, which will provide Comic-Con attendees with a sneak peek at what they can expect to see in September and beyond.


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JustGiving pays £1.6m reclaimed gift aid to thousands of charities after updated HMRC guidance
25 Jul 2016
Charities that lost out on gift aid payments because donations on JustGiving included messages of support...
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Blockchain technology could eventually be used to carry out many of the functions of a traditional regulator, according to a new paper by the Charities Aid Foundation.
Macmillan Cancer Support, Cancer Research UK and Brooke are among the charities to encourage fundraising using the Pokemon Go app, which launched in the UK today.
Charities should stop looking for a "big bang" moment in digital transformation and instead focus on long term change, Breast Cancer Care's assistant director of digital said last week.
The voluntary sector's poor understanding of the potential technology could have is one of the barriers to scaling new tools, the co-founder of a charity that champions technology for good said yesterday.
Marie Curie has appointed a digital advisory board to help it build on the successes of its digital transformation programme.
A great loss to friends, colleagues and family, but also to the charity sector writ large.
An app that claimed to support a charity rescuing refugees in the Mediterranean by enabling users to search satellite data has been pulled from Apple's app store, after technology experts said it did not work.
Facebook is looking to roll-out its 'donate' button feature to all charity pages at some point this year, a fundraising conference was told last week.
The Blue Cross, Mary's Meals and the Barbican are the latest charities to trial the use of contactless payment technology to take donations.
Charities must improve their digital offering or lose beneficiaries, the chief executive of Parkinson's UK warned yesterday.
Charity IT Survey 2012
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CivilSociety.co.uk (without magazine)
from £151.20
25 Jul 2016
Charities that lost out on gift aid payments because donations on JustGiving included messages of support...
22 Jul 2016
A report commissioned by RBS has estimated that banks in the UK have over £3bn invested in outstanding...
21 Jul 2016
Access – the Foundation for Social Investment has made its first investment, into a fund providing loans...
25 Jul 2016
The Directory of Social change has called for the Fundraising Regulator to seek a "statutory grant to...
25 Jul 2016
Neet Feet Ltd, the face-to-face fundraising agency accused of unethical practices in a recent article...
22 Jul 2016
Cancer Research's Race for Life raised £52.8m last year making it the highest-earning mass participation...
25 Jul 2016
A Kurdish charity has been removed from the register of charities and its board disqualified from trusteeship...
22 Jul 2016
NCVO is to launch a website explaining how charities work along with a communications toolkit for charities...
21 Jul 2016
The Office for Civil Society, and its responsibilities including social investment, have been transferred...
29 Sep 2016
5 Oct 2016
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17 Nov 2016
6 Mar 2017