Investor Issues
Roll-over facility in BSE stock lending, borrowing from Monday
The Bombay Stock Exchange will introduce from Monday roll-over facility under their stock lending and borrowing (SLB) scheme to increase participation in the market.
 
"The roll-over facility in SLB segment will be launched with effect from September 7," a BSE circular said.
 
The facility in the SLB session will be available for a three-month period consisting the original contract plus two roll-over contracts, it said.
 
The scheme allows short sellers to borrow securities for making delivery. Under the roll-over facility, lenders or borrowers of securities would now be allowed to extend the period of lending or borrowing, as the case may be.
 
The National Stock Exchange had earlier launched roll-over in its SLB scheme.
 
Markets regulator Securities and Exchange Board of India had, in November 2012, permitted the roll-over facility to be introduced in the SLB scheme.

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COMMENTS

DhanaSekaran Chinnathambi

5 months ago

My mother also invested please explain us how get money back

Irfan Shariff

7 months ago

Whome ever it may concern please kindly request issue all pending investors money as soon as possible every investors is crying for getting their investment money in pacl India Ltd and I don't know when it will clear pls do need full ASAP

Task force to monitor Delhi's public utility projects, HC told
For citizens of Delhi bemoaning the perennial delay and shoddy execution of civic and public utility projects in the capital there is hope at hand. A “'high level task force” is on the anvil for devising a modern system of governance for planning, execution and monitoring public utility projects to turn Delhi into a world-class city, the union government has informed the Delhi High Court.
 
The task force will devise a mechanism to fix “single-point accountability” for non-performance by agencies involved in civic infrastructure projects, the government said in an affidavit filed with the high court. The Centre said the task force will oversee a nodal agency for "effective and efficient coordination between civic agencies engaged in public welfare projects".
 
The Centre said the task force will have representation from various stakeholders, including the Delhi Police, the New Delhi Municipal Council, the three civic bodies, the Public Works Department, the Delhi Development Authority, the Delhi Metro Rail Corporation and the Unified Traffic and Transportation Infrastructure (Planning and Engineering) Centre, as also experts and consultants from various fields and representatives of various departments.
 
The affidavit was in response to a public suit, on which the court had directed the union home secretary and Delhi's chief secretary to name a consultant, a think-tank or an expert to suggest ways to turn the national capital into a world-class city.
 
A division bench of Chief Justice G. Rohini and Justice Jayant Nath had remarked that despite expending huge funds and best intentions of the officials, the city is not able to achieve the world class status to which it aspires.
 
The government said that the task-force will put in place an appropriate mechanism and recommend modern tools, systems and policies of governance/administration in the concerned agencies.
 
"There is an existing arrangement of clear division of functions and responsibility between various agencies of the government for providing civic facilities for the benefit of the general public, including special facilities for persons with disabilities," the affidavit said.
 
"These agencies are responsible for installation, maintenance and regular upkeep of the civic infrastructure in their respective fields of operation and areas of jurisdiction.
 
"There is a need to align and further coordinate the system of governance with changing demands and modern management technologies so as to ensure an effective and efficient administration in the National Capital of Territory of Delhi," it added.
 
It said, the task force, which should meet at least once in a month, will also recommend standards on infrastructure facilities for the disabled.

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'7 new features, numbering system to check fake currency'
To check the menace of fake Indian currency, new notes, especially the Rs.1,000 and Rs.500 denominations, will have 7 new security features and a new numbering system, official sources here said on Sunday.
 
The Reserve Bank of India subsidiary Bhartiya Note Mudran Pvt Ltd (BRBNMPL) and the state-run Security Printing and Minting Corp are both working to introduce the revised number pattern in currency notes, the source said
 
The currency printers hope to introduce the features on high denomination notes by May next year, and then extend the same to currencies of all other denominations.
 
The RBI has also asked the banks to stamp notes detected as fake as "Counterfeit Note" and impound them, while banks found not following the procedure will be penalised, the source added.
 
The National Investigation Agency (NIA) has been designated the nodal agency for fake currency cases.
 
The source pointed out that the fake notes inflow is no longer limited to smuggling across India's land borders and Southeast Asian and Gulf countries are developing as important transit points.
 
Malaysia, Thailand and Oman have emerged as the new centres for stocking fake Indian currency for onward circulation across India.
 
As per latest data released by the National Crime Records Bureau (NCRB), Gujarat tops the list of five Indian states that are considered the "safest" for circulating counterfeit currency notes - allegedly pushed in by Pakistan's Inter-Services Intelligence (ISI) agency.
 
Of the 30,354,604 counterfeit notes seized across the country, 8,747,820 were recovered from Gujarat in 2014.
 
Chhattisgarh followed close on the heels with the seizure of 7,386,900 fake notes, while Andhra Pradesh, Punjab and Haryana saw recoveries of 5,437,600, 3,249,000 and 1,696,850 counterfeit notes.
 
Police officers monitoring the circulation of fake notes suspect that the ISI is pushing such notes in India which have a greater resemblance to India's high denomination Rs.1,000 and Rs.500 notes. The officers said that they have been noticing for the past few months that differences between genuine and counterfeit notes were reducing and that around five such differences have actually disappeared.
 
Apart from the road and railway routes, the air route via Bangladesh, Nepal, Sri Lanka, Malaysia, Singapore, Thailand and the United Arab Emirates, as also China and Holland, are being used for smuggling in fake notes.
 
A bank official, who did not want to be named, told IANS that if one gets a fake note, he should immediately approach the nearby police station and register an FIR against the person who gave him the note.
 
"If a fake currency is withdrawn from any ATM, one should also file an FIR against that bank. The Reserve Bank of India penalizes such banks if they are found guilty," said the official, who is a manager in State Bank of India.

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COMMENTS

Dr Anantha K Ramdas

2 years ago

A lot has been said in the past by Dr K C Chakraborty, former deputy governor of RBI in regard to introduction of polymer currency notes. In fact more than 18 months ago, in a press meet, he mentioned that India was already test marketing Rs 10 polymer currency notes in six different selected cities.

After his retirement, there has been no word on this subject from RBI or any other body such as the Finance Ministry who should be genuinely interested in stopping this fake currency coming from Pakistan. ISI wants to ruin in the Indian economy and smuggled notes are in circulation. Your above report also indicates that the fake currency notes of higher denomination of Rs 500 and Rs 1000 are growing in number in terms of circulation. From time to time, photographs of "captured" notes with police sleuths appear in the press. We do not hear anything after that.

It is time RBI makes a clear cut announcement on this subject. Every airport must have vigilant officials on the ex-ray machines to detect this smuggling and land borders need to be even more tough in having sniffer dogs and other forms of checking equipment to stop this happening.

Introduction of polymer currency notes, which even UK is planning an introduction early next year, should be an eye opener to our government.

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