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Mumbai : 11th M.R. Pai memorial award function held

Mumbai : 11th M.R. Pai (Mangalore Ranga Pai) memorial award function held on 8th Sept at Indian Merchants’ Chamber Hall, Churchgate.The award was presented by RBI Dy. Governor R. Gandhi to Kishori Udeshi former Chairperson, Banking Codes and Standards Board of India and former Dy. Governor of RBI. Accepting the award Kishori Udeshi said M R Pai is a champion to the common men. She expressed her happiness of the present growth of banking sector and said without depositors there is no bank.
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Mumbai : 11th M.R. Pai (Mangalore Ranga Pai) memorial award function held on 8th Sept at Indian Merchants’ Chamber Hall, Churchgate.The award was presented by RBI Dy. Governor R. Gandhi to Kishori Udeshi former Chairperson, Banking Codes and Standards Board of India and former Dy. Governor of RBI. Accepting the award Kishori Udeshi said M R Pai is a champion to the common men. She expressed her happiness of the present growth of banking sector and said without depositors there is no bank.

RBI Dy. Governor R. Gandhi also released a book viz. “Corporate Governance of Commercial Banks in India” authored by Dr. Amitha Sehgal.
President of All India Bank Depositors Association SS Bhandare welcomed all. The award was instituted by Punjab & Maharashra Cooperative Bank Ltd., the Chairman of the Bank S Waryam Singh spoke about the award. AIBDA Hon. Secretary Ashok Ravat Mrs. Gita R. Pai also present on dais.

The function was arranged by All India Bank Depositors Association (Mumbai) in association with Forum of Free Enterprises and M R Pai Foundation.

About Late M. R. Pai
Well known as M. R. Pai, Mangalore Ranga Pai was born in Manjeshwar, border of Kerala and Karnataka on 7 May 1931. He studied at Canara High School, Mangalore and later at Presidency College, Madras where he obtained an MA in Political Science at the top of his class and received the Candeth Gold Medal from Madras University.

After his studies he went to Bombay where he worked as an assistant editor with the Times of India. Two years later he went to the United States, where he obtained a Master’s Degree in Journalism from the University of California, Los Angeles. During his stay in the US he worked as editor of a newspaper at the Carlsbad Journal in Carlsbad, California.

After his return to India he joined the New India Assurance Company Limited. He then joined the Forum of Free Enterprise, which was launched on 18 July 1956 by the late A D Shroff. In 1957, along with Nani Palkhivala, the Forum was developed into a national organisation which organised meetings on economic subjects across the country. He continued to be its vice president till his death i.e. till 3rd July 2003.
Through the Forum he was responsible in corresponding with members of the Parliament of India, and other opinion leaders.

M R Pai successfully fought innumerable battles for the consumer with the telephone department, banks, Indian Airlines and several other institutions
He was an honorary secretary of the All-India Bank Depositors’ Association, through which he published the book Depositors’ Rights and Customer Service in Banks which provided the customer of a bank with information required to deal with the various problems faced by them.

The Reader’s Digest features Pai on the cover of its October 1995 issue under the title “M. R. Pai – Champion of the Consumer”.
He has written several books some of them are,
· An Indian Economic Miracle and Other Essays (1970)
· How to Arrange Programmes and Meetings
· How to Save and Invest
· Time Management
· The Legend of Nani Palkhivala (2002)

Mr. Pai was closely associated with the legendary Nani Palkhivala and in January 2002 he authored the book “The Legend of Nani Palkhivala”. He donated the amount of Rupees six lakhs received as royalty from the book to various organizations with which late Palkhivala was associated.

After Pai passed away an annual Award in his memory to be given to any consumer activist or journalist or organizations in the field of consumerism.

By Ishwar M. Ail

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