Citizens' Issues
147 police officers out of 150 transferred by using special powers!

The Congress-NCP government in Maharashtra transferred 150 police officers in 2014. Out of this 147 were transferred by the chief minister and home minister using powers that were meant to be used under exceptional circumstances

 

The Maharashtra government led by Congress and Nationalist Congress Party (NCP) transferred 147 transferred officer above the rank of Deputy Superintendent of Police using power that were meant to be used under exceptional circumstances.

 

According to a reply received by Right to Information (RTI) activist and former central information commissioner Shailesh Gandhi, during 2014, the state government transferred 150 police officers, out of which 147 were transferred as exception.

 

The Maharashtra Transfers and Delays Act 21 of 2006 mandates a tenure of three years for all government officers. However, the Congress-NCP government issued an amendment to the Maharashtra Police Act through an ordinance. By section 22 N, the ordinance specified a tenure of two years for police officers and gave powers to chief minister and home minister to violate this norm under exceptional circumstances.

 

Mr Gandhi said, "They (the Congress-NCP government) must have been in political slumber and naive not to realise they were going to present more power to their political opponents. Money in the transfer business must have been fairly lucrative. The government did not follow any of the laws. A lawless government!"

 

In his RTI application, the former central information commissioner had asked description of following...

 

1) I want information regarding total number of transfers of various ranks of police officers from PSI upwards.

2) I want information regarding total number of transfers of various ranks of police officers from PSI upwards who have been transferred under Section 22 N (2) (a) and Section 22 N (2) (b).

 

Here is the reply he received...

 

Police Transfers

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Reliance Jio is potent but distance threat for telcos, says Edelweiss

Although, investors continue to be jittery, perceiving the anticipated launch by R-Jio as disruptive, Edelweiss said the RIL unit is unlikely to make profits till FY19. In addition, established players like Bharti Airtel and Idea Cellular are not constrained by resources and can counter any unrealistic offering by R-Jio 

 

The telecom sector in India is at a crossroads. It is facing tailwinds like waning competition, improved pricing power, data uptick and more accommodative policies on one hand and headwinds in the form of Reliance Jio's (R-Jio) entry on the other hand. "Though investors are jittery about R-Jio’s big bang launch, we firmly believe that sound operational performance will be the wind beneath stocks’ flight in the near term," says Edelweiss Securities Ltd in a research note.

 

Although, investors continue to be jittery, perceiving the anticipated launch by R-Jio as disruptive, Edelweiss said that in the near to medium term, the sector will be buoyed by tailwinds delivering better-than-expected realisations and higher volume surge (voice and data) which will counter headwinds from either the regulator or competitors.

 

Without doubt, R-Jio will be a scale player given the technology investments further bolstered by balance sheet might and robust execution record of its parent, Reliance Industries Ltd. "However, we believe, it will gain scale gradually post-launch (expected by August 2015). Even in a best case scenario, R-Jio is unlikely to make profits till FY19. Also, more established players like Bharti Airtel and Idea Cellular are in no way resource constrained and are fighting fit to counter any unrealistic offerings," the report added.

 

According to Edelweiss, limited competition and price discipline would ring in benefits for telecom companies over the next few years. Post 2012 auctions, the competitive landscape has narrowed dramatically with only about 5 operators per circle versus around 11 earlier. This proved a boon for the industry, enabling operators to regain their pricing mojo. Further, in order to help the sector stand on its feet the new government is likely to adopt a more accommodative stance.

 

"Moreover, we expect the industry to adopt a disciplined approach, unlike the earlier price hike regime wherein discounts and promotions had wreaked havoc. Thus, higher tariffs will boost cash flows and reduce net debt of companies. In case of Bharti and Idea we estimate cash flows of Rs64,700 crore and Rs16,700 crore, respectively, over FY15-20," the report added.

 

According to Edelweiss, limited competition and price discipline would ring in benefits for telecom companies over the next few years. Post 2012 auctions, the competitive landscape has narrowed dramatically with only about 5 operators per circle versus around 11 earlier. This proved a boon for the industry, enabling operators to regain their pricing mojo. Further, in order to help the sector stand on its feet the new government is likely to adopt a more accommodative stance.

 

"Moreover, we expect the industry to adopt a disciplined approach, unlike the earlier price hike regime wherein discounts and promotions had wreaked havoc. Thus, higher tariffs will boost cash flows and reduce net debt of companies. In case of Bharti and Idea we estimate cash flows of Rs64,700 crore and Rs16,700 crore, respectively, over FY15-20," the report added.

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Nifty, Sensex to rally further – Thursday closing report

Nifty has to remain above 7,920 for the rally to continue

 

We had mentioned in Wednesday’s closing report that the CNX Nifty may rally, subject to the Nifty staying above 7,875. Today the benchmark opened higher and managed staying above this level for the entire session. With today’s gains the S&P BSE Sensex covered up losses of the past three trading sessions, while the Nifty covered up almost all the losses of the past three sessions.
 
The Sensex opened at 26,394 while Nifty opened at 7,887. The indices hit their intra-day low close to their opening marks. The benchmark indices made a gradual move upwards throughout the session. After hitting a high at 26,689 and 7,972 the Sensex closed at 26,637 (up 390 points or 1.49%), while Nifty closed at 7,961 (up 118 points or 1.50%). India VIX fell 6.78% to close at 13.1550.
 
The markets are now awaiting data on industrial production for August 2014, which will be given out on Friday.
 
India will attract the highest-ever inflow of foreign direct investment (FDI) in the current fiscal on the back of a slew of policy reforms announced by the new government, a senior Department of Industrial Policy and Promotion (DIPP) official has said. Atul Chaturvedi, the Joint Secretary in the DIPP said the highest ever FDI flows received by the country were in FY12 at $35.12 billion, while in four months of this fiscal alone we have crossed $10.75 billion. 
 
The government has notified rules for minimum 25% public shareholding in listed state-owned firms. To comply with these norms, over 30 listed PSUs will need to raise their public shareholding to a minimum of 25% by August 21, 2017, as per a notification for amendment to the Securities Contracts (Regulation) Rules.
 
World food prices fell to their lowest since August 2010 in September, as prices of all major food groups except meat dropped, led by a sharp decline in dairy and sugar prices, the UN's food agency said on Thursday. The Food and Agriculture Organisation's (FAO) price index, which measures monthly price changes for a basket of cereals, oilseeds, dairy, meat and sugar, averaged 191.5 points in September, down 5.2 points or 2.6 per cent from August. The figure was 12.2 points or 6.0 per cent below September 2013.
 
Den Networks which had been falling for three consecutive sessions ending 7 October 2014, since the news of resignation of its CEO SN Sharma due to personal reasons, has gained in the past two sessions (including today). The stock was among the top two gainers in ‘A’ group on the BSE as it rose 11%. 
 
Rasoya Proteins (4.91%) was the top loser in the ‘A’ group on the BSE. The stock hit its 52-week low today. 
 
BHEL (8.37%) was the top gainer in the Sensex 30 pack. Wipro (0.83%) was the top loser among the Sensex 30 stocks. The stock hit its 52-week high on 7 October 2014.
 
US indices closed in the green on Wednesday.
 
Minutes of September's Federal Open Market Committee meeting reaffirmed the central bank's intent to be prudent in raising interest rates.
 
The influential US monthly non-farms payroll data of September 2014 is due on 10 October 2014.
 
The IMF and World Bank begin their annual meetings in Washington tomorrow, 10 October 2014 as finance ministers and central bankers from around the world discuss ways to bolster the global economic recovery and weather the latest bout of geopolitical instability while lifting incomes in poor countries.
 
Except for Nikkei 225 (0.75%) all the other trading Asian indices closed in the green today. Hang Seng (1.17%) was the top gainer.
 
Japanese core machinery orders rose for the third straight month in August, the government said today. The 4.7% rise in August follows monthly gains of 3.5% in July and 8.8% in June, after a record 19.5% drop in May.
 
European indices were showing a mixed performance in today's trading session.
 

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