Companies & Sectors
Transport Sector, jammed by Rules

A plethora of transport rules, Acts, orders and circulars clog the system

Afew days ago, a friend of mine, Rakesh Aggarwal, had a hearing at the offices of the Central Information Commission regarding the Delhi government’s department of transport. His 26 RTI applications had been pending for about three years. All these pertained to day-to-day issues faced by people who use public roads in India. I was lucky enough to be present with him at this mega-hearing which took half a day. People from the transport department and a lot of ordinary citizens were present. While the applications related to the national capital region (NCR), the issues have relevance on an all-India basis. For example:
     Status of high security number plates and reasons for what appears to be a major chaos in the implementation of this process.

     Multiple permits and licences given to persons with same name / same parent name / same address / same or different photo.

     Information on lack of usability of the website which is impossible to navigate.

     No clear information on the circulars, orders, miscellaneous notices, notices, laws, rules, etc, as applicable on any given date.

     Non-compliance with facilities for disabled people at their offices and locations for many aspects including acceptance of RTI applications.

     Information on laws of India pertaining to vehicles exempted from displaying registration marks—like those given to some citizens like the president of India and others.

     Information on Indian laws pertaining to special facilities granted to some citizens, like government servants, over others in the context of out-of-state vehicles.

     Information on laws regarding definition of terms like VIP/VVIP when the Motor Vehicles Act defines only ‘motorists’ and all citizens are equal.

     Wearing of uniforms by staff of the transport department while on duty and display of proper identities.

     Some specific information required regarding anti-citizen and anti-public treatment of public transport vehicles and drivers/operators.

Road transport in India comes under the concurrent list of Centre-state subjects, so there is no clarity on who is really responsible for what. Hence, I am moving towards seeking some specific information and accountability therein, along these lines.

a)    First, the ministry of road transport & highways needs to proactively take on the responsibility of collecting all applicable circulars, rules, orders, miscellaneous and similar, which are issued on a national basis because of any reason or order by Supreme Court, other courts, directions, NHAI, other Central government, armed forces, customs, land borders, etc, and place them online on their website twice a year in English and Hindi.

b)    Second, the state-level transport departments need to take all the above into account and place them on their respective websites in the relevant regional languages as well as collect all state-level circulars, rules, orders, miscellaneous and similar and place them online four times a year.

c)    Third, the district and RTO-level transport departments need to collect all national and state-level circulars, from (a) and (b) above, miscellaneous and similar orders, and add to them all district/RTO level circulars, orders, miscellaneous, etc, issued by them. These should also be placed online or made available at their offices several times a year, in English, Hindi and applicable regional languages.

d)    Fourth, if these three levels of transport authorities cannot do this, how do they expect citizens to be able to adhere to the plethora of rules, Acts, orders, circulars, etc? This is the basic question under RTI.

I would like some help from people all over India on how the RTI Act  is being applied at their local RTO/transport offices, viz., how easy is it to file an RTI application, to start with.

Veeresh Malik started and sold a couple of companies, is now back to his first love—writing. He is also involved in helping small and midsize family-run businesses re-invent themselves


HDFC FY14 net profit up 12% to Rs5,440 crore

For FY14, HDFC reported higher net profit of Rs5,440 crore following growth in its loan portfolio by 16% and revenues by 14%

Housing Development Finance Corporation Ltd (HDFC) reported higher full year net profit mainly on increase in its loan portfolio and revenues.

For the 12 month to end-March, HDFC said its stand alone net profit increased 12% to Rs5,440 crore from Rs4,848 crore, while its total revenues, including interest income, grew 14% to Rs24,143 crore from Rs21,113 crore, a year ago period.

The private sector housing lender said during FY14 its net interest margin (NIM) increased 4.1% and spread on loans stood at 2.29%.

As on 31 March 2014, total assets of HDFC increased 16% to Rs2.25 lakh crore from Rs1,95 lakh crore a year ago period. Gross loan book of HDFC increased 16% to Rs1.97 lakh crore from Rs1.70 lakh crore. It sold loans worth Rs6,944 crore during the quarter.

Its individual loan book grew 26%. HDFC's total borrowing during the year also increased 16% to Rs1.84 lakh crore to Rs1.58 lakh crore a year ago period.

As on 31 March 2014, HDFC's capital adequacy ratio (CAR) stood at 17.9%, gross non performing assets (loans) ratio (GNPAs) stood at 0.69% (Rs1,357 crore). Its individual and non individual non-performing assets (NPA) stood at 0.53% and 1.01% respectively.

For the quarter to end-March, HDFC said its stand alone net profit grew 11% to Rs1,723 crore from Rs1,555 crore while its total revenues, including interest income, grew 17% to Rs6,620 crore from Rs5,666 crore, same period last year.

As on 31 March 2014, the HDFC's total number of branches stood at 354.

HDFC declared a final dividend of Rs14 per share.

HDFC closed Tuesday 1.12% down at Rs877.25 on the BSE, while the 30-share Sensex ended the day flat at 22,508.

For more stock results, check out this page


Sensex, Nifty turn listless : Tuesday closing report

Nifty should close strongly above 6,740 for any upmove

We had mentioned in Monday’s closing report that NSE 50-share Nifty has to close above 6,715 to regain strength. On Tuesday, although the index managed to open above this level, it edged higher in first few minutes of trading only to edge lower before closing marginally below than the aforesaid level. Positive economic data from the US played on the market sentiments.

The S&P BSE 30-share Sensex opened at 22,512 and hit a high of 22,603 while falling to 22,476 before closing at 22,508 ( up 63 points or 0.28%). Nifty opened at 6,719 and moved in the range of 6,702 and 6,743 before closing at 6,715 (up 16 points or 0.24%). The NSE recorded a low volume of 57.21 crore shares.


 Among the other indices on the NSE, the top five gainers were Energy (0.68%), Bank Nifty (0.66%), C P S E (0.60%), F M C G (0.41%) and Finance (0.32%). The top five losers were Media (0.60%), M N C (0.54%), I T (0.48%), Consumption (0.25%) and P S U Bank (0.21%).
Of the 50 stocks on the Nifty, 26 ended in the green. The top five gainers were IndusInd Bank (2.51%), I C I C I Bank (2.11%), Reliance Industries (1.93%), L T (1.48%) and Tata Motors (1.24%). The top five losers were Power Grid (2.81%), Ambuja Cements (1.85%), Bharti Airtel (1.81%), Tata Power (1.46%) and Wipro (1.32%).
Of the 1,571 companies on the NSE, 718 companies closed in the green, 754 companies closed in the red while 99 companies closed flat.

Initial public offering (IPO) market in India may not revive this year unless the country sees a more sustained economic recovery, National Stock Exchange CEO Chitra Ramkrishna told media on Tuesday.

India's economy will likely make a gradual recovery this year, helped by a rebound in capital investments as well as a pick-up in private consumption, but rising bad loans at its banks threaten to choke the recovery, the OECD said on Tuesday. In its latest economic outlook, OECD said growth in India may edge up to 4.9% in calendar year 2014 from 4.5% a year earlier and accelerate further to 5.9% in 2015. The estimates are predicated on hopes of an upturn in capital investments after an ongoing national election and a boost in consumption driven by slowing inflation.

Reliance Industries (RIL) and ONGC had on 28th March agreed to appoint neutral international expert to decide if four wells drilled on boundary of KG-D6 block were drawing gas from neighbouring gas discoveries of the state-owned firm. However now RIL has proposed joint studies before an international expert is roped in. RIL was the top gainer in the Sensex 30 pack.

Airtel, Vodafone and Idea Cellular had approached TDSAT against Department of Telecom order to stop 3G intra-circle roaming agreement under which they had also agreed to acquire customers in area where they did not win spectrum. After telecom tribunal TDSAT upheld their plea to provide 3G intra-circle roaming services, Airtel on Sunday announced the resumption of its 3G services in eight circles. In a statement, the service provider said 3G roaming services would now be available in Haryana, Maharashtra, Goa, Kerala, MPCG (Madhya Pradesh, Chhatisgarh), Gujarat, Kolkata and UP (east) from Monday. However Bharti Airtel was the top loser in Sensex 30 stock.

Gujarat Electricity Regulatory Commission (GERC) has allowed power tariff hike on the consumers in Ahmedabad, Gandhinagar and Surat effective from May 1. In its order on Monday, the GERC stated that it has allowed an increase of average 44 paise (Re0.44) per unit to the private power producer, Torrent Power Ltd. This will result in the annual burden of Rs449 crore on the consumers in the three urban centres. The tariff increase includes the increase in fixed charges and energy charges. Torrent Power was the top gainer in ‘A’ group on the BSE.

Canara Bank was the top loser among the ‘A’ group of the BSE, following weak March quarter results.

US indices closed in the positive on Monday. The Institute for Supply Management's US services sector index rose to 55.2 in April, the fastest pace in eight months.

Except for Shanghai Composite (0.03%),    Straits Times (0.12%) and Taiwan Weighted (0.47%) all the other Asian indices trading today closed in the red. NZSE 50 (0.49%) was the top loser.

European indices were trading in the red while US Futures were trading marginally higher.


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