Production resumes at Maruti Suzuki’s Manesar plant

The company has brought in 120 ITI-trained workers to the Manesar plant on a contract basis to strengthen the manpower for assembly operations. In addition, 50 engineers from the Gurgaon plant and 290 supervisors are working at the Manesar plant in an effort to normalise operations

New Delhi: Maruti Suzuki India (MSI) today said it has begun to roll out cars from its Manesar plant as it looks to normalise operations, even as tension between the management and workers continued for the third day, reports PTI.

"MSI began assembly operations at Manesar this morning.

The factory was able to roll out its first Swift since production was halted on Monday," a company spokesperson said.

In the last two days, the company had done the ground work for resumption of work in the press, weld and paint shops by bringing in additional workers. These sections of the plant are highly automated, he added.

"The company brought in 120 ITI-trained workers this morning to the Manesar plant on a contract basis to strengthen the manpower for assembly operations," the spokesperson said.

In addition, 50 engineers from the Gurgaon plant and 290 supervisors are working at the Manesar plant. The engineers are strengthening quality systems and preparing for a ramp-up, he said.

Production at the Manesar plant had been at a complete halt since Monday after the company decided to force workers to sign a 'good conduct bond' before entering the factory premises following alleged 'sabotage', resulting in quality issues that arose last week.

So far, 40-odd permanent workers have signed the bond, the spokesperson said.

Yesterday, MSI suspended 16 more permanent workers, taking the total to 26, while the services of another 12 trainees were discontinued, in addition to six earlier, at the plant.

With vehicle production being completely affected for the second day, MSI has suffered an estimated production loss of about 2,400 units, valued at around Rs120 crore till yesterday.

The workers, however, had said the management was taking these steps in 'revenge' for their 13-day strike in June demanding the recognition of a new union-the Maruti Suzuki Employees Union (MSEU)-at the plant located in Haryana.

User

Beware! There’s another scam mail in circulation that uses the name of the RBI to get your bank details

Scamsters are once again using the RBI’s name in a fake e-mail, asking people for numerous personal details to register for a one-time password

Don't hesitate to delete an e-mail that ostensibly asks for your bank details to register your account with a one-time password (OTP). That's because it's very likely that it is a spam message from scamsters who are using the name of the Reserve Bank of India (RBI) to appear legitimate. In reality, the apex bank never asks for these details for the purpose of verification, by e-mail.

Many Internet users have mentioned they are receiving this e-mail message with the subject line, "Reserve Bank of India: OTP Registration For All Indian Bank Users", asking people to give their bank details for verification.  

The message explains that this is part of a regular process to screen the activities of various accounts. It also states that certain restrictions have been put on your account after it was found to have issues for safe use. The messages states that in order to lift these restrictions, "we will require some further information from you to enable us register your account for OTP (one-time password)."

Receivers of the message are asked to furnish information such as credit/debit card number, transaction password, ATM PIN number, expiry date and other personal details like e-mail address and mobile phone number.

Experts point out that the neither the RBI nor any individual bank asks for the PIN number for account verification. It is only when the accountholder voluntarily opts for mobile or internet banking that one requires to enter a password or PIN number for the purpose of transaction.

According to the OTP activation procedure described in the message, once the necessary details are confirmed and verification is successful, a manual containing a PIN (number) and the process to activate it is sent by e-mail in a couple of weeks.

This is again strange, as all banks send the PIN number and necessary account details either by post or they ask the customer to collect it from the bank's branch personally.

Moneylife has reported earlier about a fake e-mail circulated, similarly using the RBI's name to offer unclaimed lottery funds. (Read, 'RBI offering unclaimed funds through lottery? Beware, scamsters are on the prowl again'.)

Clearly, this time too this is another fraud in progress again. So, if you receive such a message, delete it immediately.

To read some key points that will help you identify fake/fraud messages log on to websites like www.truthorfiction.com, www.fraudwatchers.org or www.scambaits.com that give special attention to this matter, to help potential victims and catch the scamsters.

User

COMMENTS

akshayshah

5 years ago

thank you money life digital team
really nice of you

akshayshah

5 years ago

i have received an email.
it was showing me that it is from rbi
and you have won some cash amount

RNandakumar

6 years ago

Moneylife team could additionally serve the public in increasing the awarness against such cyber crimes by publishing the cybercrime investigating agency's phone number or e-mail address. This would help the public to forward such mails to the notified authorities.

Growth in commercial credit offtake slows in July: RBI

The decline in credit offtake is on account of the RBI's monetary tightening policy. The apex bank has raised its key policy rates 11 times since March 2010 in a bid to tame inflation, which is currently above 9%

Mumbai: Hit by high interest rates, growth in commercial credit offtake from banks by major sectors slowed to 18.9% in July 2011, from 20% in the same month last year, reports PTI.

While the farm sector and industry reported lower credit offtake in July 2011, vis-à-vis the same month of 2010, year-on-year growth was higher in case of services and personal loans, as per the latest data released by the Reserve Bank of India (RBI).

Total outstanding non-food or commercial credit disbursement stood at Rs37.28 lakh crore in July this year, up from Rs31.35 lakh crore in the same month of the previous fiscal.

Commercial credit offtake of all the sectors combined was Rs26.13 lakh crore in July 2009.

"On a year-on-year basis, non-food gross bank credit increased by 18.9% in July 2011, as compared with 20% in the corresponding period of last year," the RBI said.

The RBI had last month revised its non-food credit growth projection for this fiscal downward to 18% from the earlier estimate of 19%.

The decline in credit offtake is on account of the RBI's monetary tightening policy. The apex bank has raised its key policy rates 11 times since March 2010 in a bid to tame inflation, which is currently above 9%.

Gross bank credit, which also includes food credit, grew by 19.1% in July on an annual basis, as against a growth of 19.8% in the same month of 2010.

This is on account of a massive 31.9% jump in food credit offtake during the month under review, as against a mere 9.2% growth in July last year.

Food credit offtake stood at Rs67,461 crore in July this year, compared to Rs51,281 crore in July last year. Food credit offtake had stood at Rs46,971 crore in June, 2009.

Last fiscal, non-food credit offtake increased by 21.5%, much above the RBI's projection of 20%.

As per the latest data, total credit disbursement to agriculture and allied areas grew by only 11.8% in July 2011, as against a growth of 19.9% in the same month of 2010.

It was Rs4.43 lakh crore in July 2011, compared to Rs3.96 lakh crore in July last year. In July 2009, it stood a Rs3.30 lakh crore.

"Credit to industry increased by 21.2% (year-on- year) in July 2011, as compared with 27.7% in the previous year...," the RBI said.

On an annual basis, total credit disbursement to industry-which includes infrastructure, metals, food processing, rubber, plastic and their products and engineering-was Rs16.79 lakh crore in July, compared to Rs13.85 lakh crore in the same month last year. It stood at Rs10.84 lakh crore in July 2009.

However, there was a moderate increase in the rate of growth of credit offtake from banks by the services sector.

"Credit to the services sector increased by 21.3% (year-on-year) in July 2011, up from 17.4% in the previous year," the RBI said.

The sector saw bank credit offtake rise to Rs9.06 lakh crore in July this year from Rs7.47 lakh crore in the corresponding month last year. In July 2009, the figure was Rs6.36 lakh crore.

Within services, while segments like transport, computer software, tourism and wholesale trade witnessed slower growth in the offtake of credit during the month, disbursements to non-banking financial companies saw a big jump.

"Credit growth to NBFCs at 55.6% on a year-on- year basis in July 2011, was significantly higher than that of 10.9% growth during the corresponding period of the previous year," the apex bank said.

Bank credit disbursement to the NBFC segment stood at Rs1.73 lakh crore in July this year, as against Rs1.11 lakh crore in the same month last year. Credit disbursement to NBFCs stood at Rs10.03 lakh crore in July 2009.

Credit extended to the personal loans sector also went up by 15.4% during July 2011, compared to a growth of 8% during the same month a year ago.

During the month under review, total credit offtake by the sector stood at Rs6.98 lakh crore, as against Rs6.05 lakh crore in July 2010. In July 2009, the sector had availed credit to the extent of Rs5.60 lakh crore.

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)