The horrendous accident that killed 27 and left 26 others injured, shows lethargic enforcement of regulations, especially on highways and expressways
Twenty-seven members of a marriage party, including four children, were killed and 26 others injured when a speeding tempo rammed in two stationary buses at Khalapur on the Mumbai-Pune Expressway.
The incident took place in the wee hours around 1am when the tyres of one of the mini-buses carrying a marriage party got punctured on the expressway and was parked on the roadside while another bus was stationed just behind the vehicle, helping it out with the repairs, reports PTI.
The mishap occurred when a speeding tempo rammed into the second mini bus from the rear, crushing people seated on the road between both the vehicles, police said.
According to Chandmal Parmar, an activist who is fighting hard to prevent road accidents, such horrendous mishaps could have averted, if only they had used the retro-reflector strips on all sides of the bus. “The retro-reflector strips, white on the front side of the vehicle, yellow on both the sides, and red on the backside of the vehicle, especially on commercial vehicles, are more useful in preventing accidents. In fact, the surface transport and highways ministry issued a circular in 2008, based on my application. However, the local authorities do not show any concern. The ministry, after my second approach, again issued similar notification in 2011, but there are hardly 10% to 15% vehicles, which are following the regulations or using the retro-reflector strips,” he said.
Coming back to the accident, according to police, the deceased including women and children were returning to Pune after attending a wedding at suburban Ghatkopar in Mumbai.
The injured have been admitted to MGM hospital at Panvel and Pune’s Sassoon hospital, where three victims were pronounced dead on arrival, police said.
The deceased have not been identified yet. The tempo driver has been detained at Khalapur in Raigad district, they added.
The victims, who were brought to the Sassoon hospital in Pune and declared dead on arrival, were identified as Pooja Shinde (12), Om Sonavane (6) and Mangla Gaikwad (42).
According to police, the newly-married couple was safe as they were travelling separately.
IDBI Mutual Fund would launch new schemes in the equity space would be hybrid in nature like a balanced fund and fund of funds scheme in gold segment
Mumbai: IDBI Mutual Fund is planning to come up with three to four new products in both debt and equity space in the current financial year and also aims to achieve breakeven by FY15, a top company official said.
"We plan to launch three to four products in the debt and equity segments in the current financial year in order to tap the emerging opportunities in this space," Managing Director and Chief Executive Officer of IDBI Asset Management Company, Debasish Mallick told PTI.
He also said that the product to be launched in the equity space would be hybrid in nature like a balanced fund.
The company will also come up with a fund of funds scheme in gold segment in this fiscal, where retail investors can invest through systemic investment plan (SIP) route.
IDBI Mutual, the wholly owned subsidiary of IDBI Bank, is also hopeful of achieving breakeven by 2014-15.
"Taking into account the growth rate of the company, we hope to be breakeven by 2014-15," Mallick said, adding that the AMC is fully capitalised as of now and may not need any fund from the parent in ongoing fiscal.
Till date, IDBI Bank has invested Rs75 crore in the AMC.
Talking about the new fund offer of IDBI India Top 100 Equity Fund, Mallick said that the new offer was able to collect Rs70 crore, mostly from the retail investors.
"Given the market condition, Rs70 crore of investment in an equity NFO was an encouraging response. Also, most of the money has been collected from retail investors, which gives stability to portfolio of the fund," he said, adding that the fund is now open for investment from May 25 for investors.
About distribution, he said majority of the collection is coming from IDBI bank branches coupled with distributors.
"We are strengthening our marketing efforts with focussing on distribution channel," he said.
Mallick, however, said that the company has no plans to hire fund managers as of now.
At present, the virus filtration protocol criteria does not exist in IS 10500 Indian Drinking Water standards, but it is expected to be added soon
Ahmedabad: It might be mandatory for all household water purification devices in India to abide by the virus filtration protocol, says a member of industry body Water Quality Association (WQA), reports PTI.
The unorganised household water purification industry (water purifiers manufactured in unorganised sector) in India is pegged close to Rs1,500 crore, which experts claim is complying with standards to filter bacteria only and lacks measures to filter viruses.
The organised household water purification device market in India is pegged close to Rs700 crore.
"The unorganised water purification industry will soon have to abide with the virus filtration protocols. The issue is in advanced stages of discussion with the Bureau of Indian Standards (BIS), it could be introduced by this year end," a member of WQA said.
A report by National Institute of Virology (NIV) released in 2009 had sparked off a debate over the effectiveness of household water purification devices in the country.
The WQA works in tandem with BIS on raising the benchmark standards for industry. It comprises research analysts from industry who share views on development in the sector and deliberate on future requirements in regards to standards.
"Presently, the virus filtration protocol criteria does not exist in IS 10500 Indian Drinking Water standards, but it is expected to be added soon," Rahul Pathak of Uniqflux Membranes said.
"But, a few leading players from the organised water purification industry are already abiding by virus filtration protocols," he claimed.
The company is a licensee of Bhavnagar based Central Salt Marine and Chemical Research Institute (CSMCRI) to manufacture hollow fibre membranes for water purification devices, capable of filtering Log 4 viruses.
CSMCRI had developed, patented and thereafter licensed the novel hollow membrane fibre technology to industry, which is capable of filtering viruses and can be used to manufacture low cost water purification devices.
Explaining about Log 4 viruses, Pathak said it is the count of virus raised to power of 10 present in water. An effective purification device is one whose output shows zero virus content after filtration.
The Pune based Uniqflux manufactures membranes for original equipment manufacturers like Eureka Forbes, Uniliver amongst others.
It has started manufacturing 'Hollow Fiber UF Membranes' which the company claims are capable of rejecting Log 4 Virus, and passes the international USEPA protocol for water purification devices.