Consumer Issues
Ration card holders in Maharashtra to get kerosene subsidy directly

Under the new scheme, ration card holders would get kerosene at market rates from PDS shops, while the government would deposit the subsidy amount directly into their bank accounts

 
Mumbai: To check the black marketing of cheap kerosene sold through the public distribution system (PDS), the Maharashtra government has decided to deposit subsidy on the fuel directly in the bank accounts of intended beneficiaries, reports PTI.
 
Maharashtra Food and Civil Supplies Minister Anil Deshmukh said that other measures to stop black marketing had been ineffective. "We feel directly depositing the subsidy amount in bank account will prove effective," he said.
 
Under the new scheme, ration card holders would get kerosene at market rates from PDS shops.
 
"The PDS office will be informed about the purchase by the dealer. After the verification, reimbursement of the subsidy amount will be done directly in the bank account of the beneficiary (ration card-holder)," Deshmukh said.
 
The scheme was first to be implemented, on a pilot basis, in Nashik district, but following a presentation to the Union Food and Civil Supplies Ministry, it was decided to implement it all over the country, he said.
 
In the first phase, Mumbai-Thane, Amravati, Nashik, Wardha, Pune, and Nandurbar districts of the state will be covered.
 
The district collectors would see to it that joint accounts of the beneficiaries (husband and wife) are opened in nationalized banks.
 
"If the female head of family already has an account in a nationalized bank, she need not have a new one. But the male head of the family, even if he has an existing account, will have to get a new joint account with the wife. If he is a widower, the joint account will have to be with the senior female family member," the Minister said.
 
The collectors have been asked to complete the process of opening of accounts before 30th September.
 

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COMMENTS

bagojikop

4 years ago

Thanks And Vary Good decision
but i heard that each holder bank account should be nationalize bank
is it right or not?
if right ,our bank account already in private sector bank like federal,karnataka etc. then its going vary difficult to manage our account. so i think you be valid like banks

London's Berkeley group woos Indian for housing project

Berkeley Homes is developing about 400 units in this project 'One Tower Bridge' located on the river Thames, which are priced between 900,000 pounds and 20 million pounds

 
New Delhi: London's leading real estate company Berkeley group is wooing Indian investors to buy homes in its luxury housing project adjacent to iconic 'Tower Bridge' on the banks of river Thames, reports PTI.
 
The top management of Berkeley Homes, part of the group, is currently in the national capital to showcase its project to home buyers and investors in India. According to Knight Frank, 3.6% of Indian invest in prime central London.
 
Berkeley Homes is developing about 400 units in this project 'One Tower Bridge' located on the river Thames between Tower Bridge and City hall on the south bank.
 
"We have come here in India for the first time to promote our products. We are meeting people since yesterday and we have got a good response," Berkeley Homes Managing Director Piers Clanford told reporters here.
 
"Prices starts from about 9,00,000 pounds and goes up to 20 million pounds," he said.
 
The total investment on this project, to be completed by 2016, would be 350 million pounds, Clanford said.
 
Property consultant Knight Frank is helping Berkeley group, which is listed on London Stock Exchange with a market cap of 1.6 billion pounds, in selling this project.
 
"We expect as much as 10% of sales from Indian, which includes those who are already living in London," Knight Frank Partner (Residential Investment and International Project marketing) Sebastian Warner said.
 
On the London property market, he said, "it is a safe and secured market. Titles are clear".
 
Warner said property market is picking up in London and expects housing prices to rise by 20% in the next four years.
 

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NPAs of nationalised banks rises to Rs73,038 crore in June

Gross NPAs for nationalised bank, excluding SBI and its associate banks, rose to Rs73,038 crore in June from Rs66,795 crore at the end of March 2012 

 
New Delhi: The Union Government has said the gross non-performing assets (NPAs) of nationalised banks, excluding State Bank of India (SBI) and its five associate banks, have increased to Rs73,038 crore in June, reports PTI.
 
The gross NPAs for nationalised bank stood at Rs66,795 crore at the end of March 2012 against Rs73,038 crore in June 2012, Minister of State for Finance Namo Narain Meena said in a written reply in the Rajya Sabha.
 
The nationalised banks include 20 banks excluding State Bank of India and its five associate banks.
 
"Banks are required to monitor their NPAs and take steps to bring them down through recovery or other channels," he said.
 
RBI also monitors the NPA levels in banks, he said, adding the aspect is reviewed during Annual Financial Inspections of banks and monitored on an ongoing basis through regulatory returns submitted by banks and periodical meetings with banks.
 
The channels of recovery available to banks include recourse to Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Debt Recovery Tribunals, Lok Adalats etc., he added.
 
The government has advised public sector banks to take a number of new initiatives to increase the pace of recovery and manage NPAs, he added.
 
The new initiatives included appointment of nodal officers for recovery, to conduct special drives for recovery of loss assets, to put in place early warning system, to replace system of post dated cheques with Electronic Clearance System and to proactively pursue the loan issues with state governments, he added.
 

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COMMENTS

Rajan Manchanda

4 years ago

NPAs.......not alarming at all.

Figures of 2G and coalgate are much more impressive.

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