Maintenance work at Kudunkulam plant on: Govt

Minister of state in the Prime Minister’s Office V Narayanasamy said the work on the first reactor was over but its commissioning slated for next month had been delayed by ‘some months’ due to the agitation by the locals, who are demanding the scrapping of the project raising safety concerns

Chennai: Construction work at the controversial Kudunkulam nuclear power plant has been stopped but essential maintenance activities are underway, reports PTI quoting minister of state in the Prime Minister’s Office (PMO) V Narayanasamy.

He said the work on the first reactor was over but its commissioning slated for next month had been delayed by ‘some months’ due to the agitation by the locals, who are demanding the scrapping of the project raising safety concerns.

“Construction work at the plant has been stopped... but since maintenance work is important, our scientists and engineers are taking up the work. We have told the chief minister (Jayalalithaa) that maintenance work should be done and she has also accepted it,” he told reporters here.

Mr Narayanasamy said the Centre had accepted the Tamil Nadu Cabinet resolution and stopped the construction work besides setting up an experts committee to allay the fears of locals.

He said the committees set by the Centre as well as by the state government discussed various issues in their first meeting held in Thirunelveli earlier this week and replies to the questionnaires given by the representatives of the agitators were being prepared.

“The committee representatives are educating the people.

They will remove their fears... The talks between the two are going on very smoothly and I hope that in the next meeting all the issues will be resolved... There is every possibility of commissioning the plant in near future,” he said.

Mr Narayansamy, who was deputed by the prime minister at the height of the first phase agitation in September to pacify them, said there had been a marked change in the attitude of the people of the state, especially from Kudunkulam and were now supporting the plant.

“Some news channels who did surveys also found that the majority of the people are in favour of commissioning of the plant. I am sure that the agitating groups will see reason and will come up to the expectations of the people,” he said.

Referring to the visit of former president APJ Abdul Kalam to Kudunkulam on Sunday last, he said after seeing the plant himself he had given a ‘certificate’ vouching for its safety.

User

Mahindra Satyam posts 10-fold growth in Q2 PAT to Rs238 crore

Commenting on the results, chairman Vineet Nayar said, “Our growth momentum continues for the fifth consecutive quarter. As we come toward the end of our three year transformation journey, it is indeed satisfying to see that all our key business performance indicators, such as growth, profitability and talent retention, are on course

Hyderabad: IT major Mahindra Satyam today posted a 10-fold growth in profit after tax to Rs238 crore for the second quarter of the 2011-12 financial year compared to Rs23.31 crore in the July-September quarter of the 2010-11 fiscal, reports PTI.

On a quarter-on-quarter (Q-o-Q) basis, Mahindra Satyam’s profit-after-tax was up 5.77% from Rs225 crore in Q1, FY11-12.

The company’s consolidated revenues surged by 27.01% during the quarter under review to Rs1,578 crore from Rs1,242.4 crore in the corresponding period a year ago.

On a Q-o-Q basis, Q2 revenues were up 10.04% from Rs1,433.93 crore in the first quarter of the 2011-12 financial year.

Commenting on the results, chairman Vineet Nayar said, “Our growth momentum continues for the fifth consecutive quarter. As we come toward the end of our three year transformation journey, it is indeed satisfying to see that all our key business performance indicators, such as growth, profitability and talent retention, are on course.”

“We have shown significant improvement quarter-on-quarter in spite of an uncertain macroeconomic environment,” he added.

The company added 36 new customers during the quarter.

The total headcount of the company stood at 32,092 as of the quarter ended 30th September, during which net addition of 654 personnel took place. Attrition stood at 15.6% during the quarter.

User

No plans to hike savings deposit rates now: SBI

The RBI in its mid-year monetary policy review last month had deregulated savings bank deposit rates. After the deregulation, a few private sector players such as YES Bank and Kotak Mahindra Bank, increased savings bank interest rates to 6% from 4%

Mumbai: The country’s largest lender State Bank of India (SBI) on Wednesday ruled out a hike in savings bank interest rate as of now, reports PTI.

“There is not much adverse movement in the savings bank (SB) balances in the last one month. As of now, we have no plans to tinker with the SB interest rates,” SBI CMD Pratip Chaudhuri said here.

The Reserve Bank of India (RBI) in its mid-year monetary policy review last month had deregulated savings bank deposit rates. After the deregulation, a few private sector players such as YES Bank and Kotak Mahindra Bank, increased savings bank interest rates to 6% from 4%.

Mr Chaudhuri said those banks which have raised savings deposit rates lack reach.

“Banks, which have raised the savings bank interest rate, are the banks which lack reach. So, they would like to play the battle on the basis of pricing which is what their choice is.

But we are in the market-based on reach, service, facility and so on”

Mr Chaudhuri, however, said the bank is keeping a close watch on any significant shift in saving bank account holders.

The bank is sitting on a huge deposit base and has no concern regarding cost of deposits going up due to the deregulation.

The public sector lender is also in the process of shedding its bulk deposit portfolio in order to maintain the margin.

“We have reduced our bulk deposits from 17% of the total deposits to 12% as of now, as retail deposit has witnessed significant growth in the recent past,” Mr Chaudhuri said.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)