Consumer Issues
Railway platform tickets to cost Rs.10 from April 1
Come April 1, platform tickets in railway stations will cost twice as much -- Rs.10 from Rs.5 now, an official statement said on Monday.
 
"The ministry of railways has decided to upwardly revise the rate of platform ticket to Rs.10 per ticket from Rs.5 per ticket. The revised rate of platform ticket will be charged on platform ticket to be issued from April 1, 2015," the statement said.
 
"Directions have been sent to all zonal railways to print the revised tickets on top priority and ensure supply to all stations well in time. However, till such time the tickets are printed, the existing stock of tickets may be used with the rate corrected with a stamp," it added.
 
The ministry has also delegated the power to divisional railway managers (DRMs) to increase the rate of platform tickets beyond Rs.10 to regulate rush at platforms during specific periods like a rally, the statement added.

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COMMENTS

arun adalja

2 years ago

as there is no direct increase in the budget so they are finding out ways to increase something for their use.in metros nobody goes to railway station as it is a costly affair and wastage of time.railway must withdraw the increase.

Sudheer M

2 years ago

This is a welcome move. I have seen 1 person going in the train and 15 people coming to see him off, which creates unnecessary rush and crowd at the platform. Such crowd will create trouble and difficulty for people who are genuine passengers.

Kudos to government for this. There are work around like buying a short distance ticket which is cheaper than this etc.., but sure this will be a deterrent to many.

Sachin Purohit

2 years ago

I don't get this. From Ghatkopar to the nearest railway station - Vidyavihar or Vikhroli probably costs Rs.5. So are you saying that instead of taking a platform ticket to see off my relative, I can buy a ticket to Vikhroli instead of buying a platform ticket and save Rs.5? Then why buy a platform ticket? Unless the fares are also up and hence travel even to the nearest station is more than Rs. 10.

Rajendra Koti

2 years ago

They should make it possible to buy platform tickets using IRCTC portal.

No rift with government over public debt agency: RBI
Reserve Bank of India (RBI) deputy governor S.S. Mundra on Monday said there were no differences with the government over setting up an agency for raising public debt.
 
Finance Minister Arun Jaitley had on Sunday denied any rift with RBI governor Raghuram Rajan on this issue.
 
"We have been telling there are no differences. Where is the question of sorting out," Mundra told reporters here when asked if all the differences between the government and the RBI on setting up of a Public Debt Management Agency (PDMA) have been sorted out.
 
"There is no disconnect," Jaitley had told reporters in New Delhi after addressing the Reserve Bank's board of directors on Sunday.
 
Rajan on Sunday advocated keeping the proposed public debt agency independent of the government as well as the RBI to ensure fiscal discipline.
 
"Public Debt Management Agency as a professional organisation, independent of the central bank and government, is something that is desirable," he told reporters.
 
Rajan said: "Such an independent structure puts some discipline on the government debt process and also frees regulation of the need to create some sort of financial impression".
 
The RBI currently oversees public debt management.
 
Jaitley, in his first full budget last month, proposed setting up of a PDMA with the aim of minimising the cost of raising and servicing public debt over the long term within an acceptable level of risk at all times, under the general superintendence of the central government.
 
As per the Budget 2015-16 proposal, the new agency will have a CEO and members from the government and the RBI.
 
As per the Finance Bill 2015-16, the central government will entrust the PDMA with the issue of government securities including short-term papers.
 
The agency will be responsible for making payments to holders of government securities, in accordance with the terms of such government securities, it said.
 
Lauding the move, Rajan said: "So I think as a concept and enabling that concept is a very worthwhile move."
 
The government's net borrowings through long-term bonds were pegged at Rs.453,000 crore in the current fiscal.
 
For 2015-16, the budgeted target for borrowings was Rs.600,000 crore, but the government will raise only Rs.592,000 crore from the markets.

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COMMENTS

MG Warrier

2 years ago

I do not know who started using the word ‘rift’ while referring to the difference of views between two people(in this case between GOI and RBI). Differences in approach and policy perceptions between GOI and RBI, which were issue-specific have surfaced on several occasions in the past also. GOI has a political leadership and RBI is a professionally managed statutory body functioning within the contours of its legal mandate. As RBI has the responsibility to secure monetary stability and generally to operate the currency and credit system of the country to its advantage, the central bank will continue to share its views with government which may not always in line with the stance of government which, sometimes, may be guided by political expediency. GOI will have the final say as jocularly put by Dr Y V Reddy when he was RBI Governor: “RBI has full autonomy and I have FM’s permission to say so”

SC gives Sahara 'final' chance to raise money
The Supreme Court on Monday gave Sahara a "final and last opportunity" to raise Rs.10,000 crore to make a part payment to investors for the money raised through OFCDs in 2008-09, for release of Subrata Roy and two directors from custody.
 
The apex court bench of Justice T.S.Thakur, Justice Anil R. Dave and Justice A.K. Sikri also permitted Sahara to sell some other properties within the country to raise balance amount. 
 
The court gave Sahara three months' time to complete the transaction, including exploring other options available before it.
 

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COMMENTS

ramchandran vishwanathan

2 years ago

Its really gracious of our honourable Supreme court to keep on extending the time limit. Had this been an individual defaulting his loan , by now the Bank would have gone & attached his assets.

REPLY

integrity

In Reply to ramchandran vishwanathan 2 years ago

correct

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