General Affairs
Indian Railways Offer Free Ride To Rio Olympic Winners In Maharajas' Express
-
NEW DELHI: IRCTC has offered Rio Olympics medal winners, PV Sindhu and Sakshi Malik, a complimentary ride in the luxurious Maharajas' Express train.
The Indian Railway Catering and Tourism Corporation, a railway PSU, has also extended the offer to Tripura's gymnast Dipa Karmakar, who put up a spectacular performance at the Rio Olympics but missed out on a medal by a whisker.
"We feel proud to honour wrestler Sakshi Malik and ace shuttler PV Sindhu who have brought glory to the country through their medal-winning performances at the Rio Olympics.
"We feel equally honoured to felicitate Dipa Karmakar, who became the first Indian to reach the finals of an Olympics gymnastics event," said IRCTC Chairman and Managing Director AK Manocha.
"Congratulations to @Pvsindhu1 @DipaKarmakar for superb performances. #IRCTC extends a trip in famed Maharajas' Exp (sic)," IRCTC tweeted.
"Congratulations to @SakshiMalik for making India proud. @IRCTC_Ltd extends a trip in the famed Maharajas' Express (sic)," it said in another tweet.
Maharajas' Express, a signature product of IRCTC, offers finest luxury travel experience in India starting at USD 2,910 per person.
x
The Railways had earlier announced a cash award of Rs. 60 lakh for Ms Malik, a senior clerk with the Northern Railways.
Ms Sindhu also belongs to the fraternity. Her father works with the Railways, while her mother is a former railway employee.
The Indian Railway Catering and Tourism Corporation, a railway PSU, has also extended the offer to Tripura's gymnast Dipa Karmakar, who put up a spectacular performance at the Rio Olympics but missed out on a medal by a whisker.
"We feel equally honoured to felicitate Dipa Karmakar, who became the first Indian to reach the finals of an Olympics gymnastics event," said IRCTC Chairman and Managing Director AK Manocha.
"Congratulations to @Pvsindhu1 @DipaKarmakar for superb performances. #IRCTC extends a trip in famed Maharajas' Exp (sic)," IRCTC tweeted.
"Congratulations to @SakshiMalik for making India proud. @IRCTC_Ltd extends a trip in the famed Maharajas' Express (sic)," it said in another tweet.
Maharajas' Express, a signature product of IRCTC, offers finest luxury travel experience in India starting at USD 2,910 per person.
x
The Railways had earlier announced a cash award of Rs. 60 lakh for Ms Malik, a senior clerk with the Northern Railways.
Ms Sindhu also belongs to the fraternity. Her father works with the Railways, while her mother is a former railway employee.
'Opposite Of Peace,' Suggests China About BrahMos Missile In Arunachal
-
India should focus on fostering peace "rather than the opposite," China has said today about Delhi's decision to put advanced cruise missiles along the border in Arunachal Pradesh.
On Tuesday, reported that the army dismissed Beijing's criticism of the BrahMos missile in the Northeastern state as India "exceeding its own needs for self-defense."
Asked about the missile plans, Chinese Defence Ministry spokesman Wu Qian said "We hope that the Indian side can do more to benefit peace and stability along the border and in the region, rather than the opposite."
Prime Minister Narendra Modi will meet Chinese President Xi Jinping when he visits China next month to attend the G20 summit.
Army officials say the plan is to equip regiments deployed on the China border with the BrahMos missile, made by an Indo-Russian joint venture, as part of ongoing efforts to build up military and civilian infrastructure capabilities there. "Our threat perceptions and security concerns are our own, and how we address these by deploying assets on our territory should be no one else's concern," said top sources in the army to earlier this week.
The BrahMos is a supersonic cruise missile which can be launched from submarines, ships, aircraft or land. It can carry warheads weighing up to 300kg, and strike targets on land and at sea. It has been in service with the army since 2007 and is currently being tested for use by the Air Force's Sukhoi-30 fighters.
China claims parts of Arunachal Pradesh as its own and both sides have contesting claims on the Line of Actual Control (LAC), which is the defacto border between the two countries.
On Tuesday, reported that the army dismissed Beijing's criticism of the BrahMos missile in the Northeastern state as India "exceeding its own needs for self-defense."
Prime Minister Narendra Modi will meet Chinese President Xi Jinping when he visits China next month to attend the G20 summit.
Army officials say the plan is to equip regiments deployed on the China border with the BrahMos missile, made by an Indo-Russian joint venture, as part of ongoing efforts to build up military and civilian infrastructure capabilities there. "Our threat perceptions and security concerns are our own, and how we address these by deploying assets on our territory should be no one else's concern," said top sources in the army to earlier this week.
The BrahMos is a supersonic cruise missile which can be launched from submarines, ships, aircraft or land. It can carry warheads weighing up to 300kg, and strike targets on land and at sea. It has been in service with the army since 2007 and is currently being tested for use by the Air Force's Sukhoi-30 fighters.
China claims parts of Arunachal Pradesh as its own and both sides have contesting claims on the Line of Actual Control (LAC), which is the defacto border between the two countries.
India Responds To Pak Invite For Talks, Says Willing To Discuss Terror
-
NEW DELHI: Hardening its stance further, India has once again virtually rejected Pakistan's latest invitation for talks on Kashmir, saying it is willing to discuss cross-border terrorism which was its "core concern".
Replying to his Pakistani counterpart Aizaz Ahmad Chaudhry's fresh invitation of August 19 to visit Islamabad by the end of this month to discuss Kashmir dispute, Foreign Secretary S Jaishankar said in a letter he was willing to discuss terrorism emanating from Pakistan's territory which was India's core concern.
According to sources, Mr Jaishankar's letter was handed over by Indian High Commissioner Gautam Bambawale to Mr Chaudhry yesterday. The reply again stressed on the need for earliest possible vacation of Islamabad's illegal occupation of Pakistan-occupied-Kashmir, they added.
Mr Chaudhry's August 19 letter, second in the last 10 days, invited Mr Jaishankar to visit "Islamabad by the end of this month to discuss the Jammu and Kashmir dispute, with a view to finding a fair and just solution, as per the United Nations Security Council resolutions and aspirations" of the people of the state. He had first written to Mr Jaishankar on August 15 for talks on Kashmir.
Pakistan has also called for "putting an immediate end to the human rights violations against the innocent people" of Jammu and Kashmir and for providing medical facilities to the injured, "including the permission for doctors and paramedics to travel."
x
The sharp exchange of words comes amid strain in bilateral ties between the two nations over the continuing unrest in Kashmir with Islamabad issuing provoking statements on the turmoil following the killing of Hizbul Mujahideen commander Burhan Wani last month.
Wani was hailed as a martyr by Pakistan, which also tried to internationalise the Kashmir issue with Prime Minister Nawaz Sharif and the country's foreign office writing to a host of countries besides the United Nations, while India has been maintaining that Pakistan-sponsored terrorism in the Valley is the root cause of the turbulence.
Replying to his Pakistani counterpart Aizaz Ahmad Chaudhry's fresh invitation of August 19 to visit Islamabad by the end of this month to discuss Kashmir dispute, Foreign Secretary S Jaishankar said in a letter he was willing to discuss terrorism emanating from Pakistan's territory which was India's core concern.
Mr Chaudhry's August 19 letter, second in the last 10 days, invited Mr Jaishankar to visit "Islamabad by the end of this month to discuss the Jammu and Kashmir dispute, with a view to finding a fair and just solution, as per the United Nations Security Council resolutions and aspirations" of the people of the state. He had first written to Mr Jaishankar on August 15 for talks on Kashmir.
Pakistan has also called for "putting an immediate end to the human rights violations against the innocent people" of Jammu and Kashmir and for providing medical facilities to the injured, "including the permission for doctors and paramedics to travel."
x
The sharp exchange of words comes amid strain in bilateral ties between the two nations over the continuing unrest in Kashmir with Islamabad issuing provoking statements on the turmoil following the killing of Hizbul Mujahideen commander Burhan Wani last month.
Wani was hailed as a martyr by Pakistan, which also tried to internationalise the Kashmir issue with Prime Minister Nawaz Sharif and the country's foreign office writing to a host of countries besides the United Nations, while India has been maintaining that Pakistan-sponsored terrorism in the Valley is the root cause of the turbulence.
Kashmir Crisis: 'Alternative To Pellet Guns Soon,' Says Home Minister Rajnath Singh
-
SRINAGAR: As part of the government's latest outreach in Kashmir, Home Minister Rajnath Singh today said that an alternative to pellet guns - used by security personnel for crowd control - will be proposed within a few days.
Attacked with stones by protesters, security forces have retaliated with pellet guns leaving hundreds injured in near-daily clashes in Kashmir since security forces shot dead Burhan Wani, a 22-year-old terrorist on July 8.
The Home Minister said that the report of an expert committee set-up by him to suggest alternatives to pellet guns was expected in a soon. He said:
"It is just one month, and the report of the (expert) committee will come within two-three days. Within a few days we will have an alternative to pellet guns."
After expressing concern about those injured by pellets, Mr Singh asked the people of Jammu and Kashmir to not forget the role played by security forces during flood relief operations in 2014.
"Security personnel have been told to exercise restraint, and they are exercising maximum restraint while bearing the brunt of protestors. As a result, 4500 security personnel have been injured. I would like to appeal to everyone to not forget the role of security personnel during floods," the Home Minister said.
Accompanied by Jammu and Kashmir Chief Minister Mehbooba Mufti, Mr Singh said that the Centre was ready for talks with all stakeholders to try for a solution to the Kashmir impasse.
x
"I will only say that we are willing to talk to anyone within the ambit of Jamooriyat, Kashmiriyat and Insaniyat," Mr Singh said.
Appealing for an end to the violence that has gripped Jammu and Kashmir, the Home Minister asked the people of the state to help identify those trying to mislead the youth.
"I appeal to Kashmiri people to identify those who are trying to create such a situation in Kashmir. Without the future of Kashmir, the future of India cannot exist," he said.
The Home Minister, who is on his second visit to Jammu and Kashmir in less than a month, also said that an all-party delegation will soon visit Jammu and Kashmir to start dialogue with a cross-section of people in the state.
Attacked with stones by protesters, security forces have retaliated with pellet guns leaving hundreds injured in near-daily clashes in Kashmir since security forces shot dead Burhan Wani, a 22-year-old terrorist on July 8.
The Home Minister said that the report of an expert committee set-up by him to suggest alternatives to pellet guns was expected in a soon. He said:
"It is just one month, and the report of the (expert) committee will come within two-three days. Within a few days we will have an alternative to pellet guns."
After expressing concern about those injured by pellets, Mr Singh asked the people of Jammu and Kashmir to not forget the role played by security forces during flood relief operations in 2014.
"Security personnel have been told to exercise restraint, and they are exercising maximum restraint while bearing the brunt of protestors. As a result, 4500 security personnel have been injured. I would like to appeal to everyone to not forget the role of security personnel during floods," the Home Minister said.
Accompanied by Jammu and Kashmir Chief Minister Mehbooba Mufti, Mr Singh said that the Centre was ready for talks with all stakeholders to try for a solution to the Kashmir impasse.
x
"I will only say that we are willing to talk to anyone within the ambit of Jamooriyat, Kashmiriyat and Insaniyat," Mr Singh said.
Appealing for an end to the violence that has gripped Jammu and Kashmir, the Home Minister asked the people of the state to help identify those trying to mislead the youth.
"I appeal to Kashmiri people to identify those who are trying to create such a situation in Kashmir. Without the future of Kashmir, the future of India cannot exist," he said.
The Home Minister, who is on his second visit to Jammu and Kashmir in less than a month, also said that an all-party delegation will soon visit Jammu and Kashmir to start dialogue with a cross-section of people in the state.
Flying Bum Spent 2 Hours In The Air. Then, World's Slowest Nosedive
-
On Wednesday, for what was only the second time, the largest aircraft on the planet eased off the ground at Cardington Airfield in Britain. For nearly two hours the 302-foot-long airship - the Airlander 10, nicknamed the "flying bum" for its twin lobes that, in a certain light, approximate a giant backside - made a ponderous circuit through the air.
Everything seemed to go well for the helium-filled craft. The skies were clear. As Hybrid Air Vehicles, the company that manufactured the airship, put it on Twitter, it was a "Glorious English summer day." After 100 minutes, the ship swung back toward the airfield to land.
But on the return journey, around 11 a.m. local time, something went wrong.
"It seemed to be coming down okay," Angela Marie Hatwell, who had come out to watch the $40-million ship, told the BBC. "And then the nose just tipped."
The Airlander tilted forward and was unable to pull out of its dive as it floated closer toward the airfield, front-first. Disaster struck like a narcotized sloth, as the ship slowly crunched down in what Hybrid Air Vehicles described as a "heavy landing" and bystanders called a crash.
It was different from the first landing, the level descent that Hatwell had seen a week before. This time, the forward end of the cabin hit first, she said, "and it was horrible." The two pilots seemed surprised about what was going on, according to onlookers who said they could see the crew through the cabin windows.
x
No one was injured in the incident, though a statement on the Airlander website revealed the "flight deck has sustained some damage." (Unlike the Hindenburg, which was filled with flammable hydrogen, the Airlander is not in danger of bursting into flame.) Rumors that the aircraft had clipped a telephone pole, Hybrid Air Vehicles tweeted, were untrue.
"Hybrid Air Vehicles runs a robust set of procedures for flight test activities and investigation of issues," the company said in its statement. "We will be running through these in the days ahead as we continue the development of the Airlander aircraft."
Everything seemed to go well for the helium-filled craft. The skies were clear. As Hybrid Air Vehicles, the company that manufactured the airship, put it on Twitter, it was a "Glorious English summer day." After 100 minutes, the ship swung back toward the airfield to land.
But on the return journey, around 11 a.m. local time, something went wrong.
The Airlander tilted forward and was unable to pull out of its dive as it floated closer toward the airfield, front-first. Disaster struck like a narcotized sloth, as the ship slowly crunched down in what Hybrid Air Vehicles described as a "heavy landing" and bystanders called a crash.
It was different from the first landing, the level descent that Hatwell had seen a week before. This time, the forward end of the cabin hit first, she said, "and it was horrible." The two pilots seemed surprised about what was going on, according to onlookers who said they could see the crew through the cabin windows.
x
No one was injured in the incident, though a statement on the Airlander website revealed the "flight deck has sustained some damage." (Unlike the Hindenburg, which was filled with flammable hydrogen, the Airlander is not in danger of bursting into flame.) Rumors that the aircraft had clipped a telephone pole, Hybrid Air Vehicles tweeted, were untrue.
"Hybrid Air Vehicles runs a robust set of procedures for flight test activities and investigation of issues," the company said in its statement. "We will be running through these in the days ahead as we continue the development of the Airlander aircraft."
Business Affairs
Indian economy to grow 7.9% this fiscal: Goldman Sachs
-
The Indian economy is expected to clock 7.9 per cent growth in the current fiscal driven by better monsoon, government pay hike, key reforms and FDI inflows, Goldman Sachs said.
The global financial services major said the GDP is expected to improve gradually and for the April-June quarter it may slow a tad to 7.8 per cent, in part due to unfavourable base.
It had grown at 7.9 per cent in the previous quarter.
"For the fiscal year 2016-17, we forecast real GDP to grow by 7.9 per cent year-on-year, higher than consensus expectations of 7.5 per cent and up from 7.6 per cent in FY16," Goldman Sachs said in a research note.
It further noted that a better monsoon, civil service wage hike following 7th Pay Commission, a favourable fiscal monetary policy mix, the recent passage of key reforms and continued FDI inflows should all support growth.
It said key risks to India's growth trajectory include a faster pace of US Fed rate hikes than is currently priced in, concerns about Chinese growth and capital flows. Domestically, it cited aggravation of bad loans problem of state-owned banks or fiscal revenue slippage as potential risks.
Moreover, corporate leverage may constrain activity in heavily levered sectors, it added.
Lauding the several important policy changes and reforms that have taken place over the past couple of months in the country like passage of the GST bill, government approval of the inflation targeting framework (along with the designation of a new RBI governor), Goldman Sachs said these initiatives paint a "positive" picture for the economic trajectory ahead. Positive monsoon developments for the first time in three years is also supportive of growth numbers.
"These developments have supported foreign capital inflows over the past quarter. Moreover, a stable INR amidst global risk-off events, including Brexit, has helped investor confidence," the report said.
The report said that besides, the big ticket reforms like the GST bill and the bankruptcy code, several 'nuts and bolts? reforms have also been carried out in the year including measures to ease doing business, a pick-up in infrastructure investment, and easing in FDI restrictions in the defense, aviation, retail and e-commerce sectors, among others. "We believe the government's focus on executing these reforms and building out rural infrastructure will have a gradual positive impact on India's economic growth trajectory," the report said.
The country's real GDP growth accelerated to 7.9 per cent year-on-year in the first quarter of this year and recorded a five-year high growth rate of 7.6 per cent for the 2015-16 fiscal on robust manufacturing growth.
The Indian economy is expected to clock 7.9 per cent growth in the current fiscal driven by better monsoon, government pay hike, key reforms and FDI inflows, Goldman Sachs said.
The global financial services major said the GDP is expected to improve gradually and for the April-June quarter it may slow a tad to 7.8 per cent, in part due to unfavourable base.
It had grown at 7.9 per cent in the previous quarter.
"For the fiscal year 2016-17, we forecast real GDP to grow by 7.9 per cent year-on-year, higher than consensus expectations of 7.5 per cent and up from 7.6 per cent in FY16," Goldman Sachs said in a research note.
It further noted that a better monsoon, civil service wage hike following 7th Pay Commission, a favourable fiscal monetary policy mix, the recent passage of key reforms and continued FDI inflows should all support growth.
It said key risks to India's growth trajectory include a faster pace of US Fed rate hikes than is currently priced in, concerns about Chinese growth and capital flows. Domestically, it cited aggravation of bad loans problem of state-owned banks or fiscal revenue slippage as potential risks.
Moreover, corporate leverage may constrain activity in heavily levered sectors, it added.
Lauding the several important policy changes and reforms that have taken place over the past couple of months in the country like passage of the GST bill, government approval of the inflation targeting framework (along with the designation of a new RBI governor), Goldman Sachs said these initiatives paint a "positive" picture for the economic trajectory ahead. Positive monsoon developments for the first time in three years is also supportive of growth numbers.
"These developments have supported foreign capital inflows over the past quarter. Moreover, a stable INR amidst global risk-off events, including Brexit, has helped investor confidence," the report said.
The report said that besides, the big ticket reforms like the GST bill and the bankruptcy code, several 'nuts and bolts? reforms have also been carried out in the year including measures to ease doing business, a pick-up in infrastructure investment, and easing in FDI restrictions in the defense, aviation, retail and e-commerce sectors, among others. "We believe the government's focus on executing these reforms and building out rural infrastructure will have a gradual positive impact on India's economic growth trajectory," the report said.
The country's real GDP growth accelerated to 7.9 per cent year-on-year in the first quarter of this year and recorded a five-year high growth rate of 7.6 per cent for the 2015-16 fiscal on robust manufacturing growth.
Unified Payments Interface goes live for 21 banks
-
National Payments Corporation of India (NPCI) said on Thursday the Unified Payments Interface (UPI) is live and currently available for customers of 21 banks.
UPI is a payment solution which empowers a recipient to initiate the payment request from a smartphone.
It facilitates 'virtual payment address' as a payment identifier for sending and collecting money and works on single click 2-factor authentication.
"Real-time sending and receiving money through a mobile application at such a scale on inter-operable basis had not been attempted anywhere else in the world. Now the UPI app will be made available on Google Play Store by banks," NPCI Managing Director and CEO AP Hota said in a statement issued in Mumbai.
Some of the banks which are going live with UPI are -Andhra Bank, Axis Bank, Bank of Maharashtra, Bharatiya Mahila Bank, Canara Bank, Oriental Bank of Commerce, Union Bank of India and Vijaya Bank, among others.
The soft launch of UPI was announced by the outgoing Reserve Bank Governor Raghuram Rajan in April this year and was under pilot run, mainly with employee-customers, for some time.
The purpose of pilot run was to ensure that technical glitches, if any, are fixed and the product gives a smooth experience for immediate pay and collect with Virtual Payment Address (VPA), NPCI said.
After assessing the success of pilot run, RBI had accorded its final approval for public launch of the product.
NPCI had decided that only the banks with 1,000 pilot customers, 5,000 transactions and success rate of around 80 percent would be permitted to go live.
"Such a threshold criteria helped banks to refine their systems and procedure," Hota said.
UPI also provides an option for scheduling push and pull transactions for various purposes like sharing bills among peers. One can use UPI app instead of paying cash on delivery on receipt of product from online shopping websites and can pay for miscellaneous expenses like paying utility bills, over the counter payments, barcode (scan and pay) based payments, donations, school fees and other such unique and innovative use cases.
National Payments Corporation of India (NPCI) said on Thursday the Unified Payments Interface (UPI) is live and currently available for customers of 21 banks.
UPI is a payment solution which empowers a recipient to initiate the payment request from a smartphone.
It facilitates 'virtual payment address' as a payment identifier for sending and collecting money and works on single click 2-factor authentication.
"Real-time sending and receiving money through a mobile application at such a scale on inter-operable basis had not been attempted anywhere else in the world. Now the UPI app will be made available on Google Play Store by banks," NPCI Managing Director and CEO AP Hota said in a statement issued in Mumbai.
Some of the banks which are going live with UPI are -Andhra Bank, Axis Bank, Bank of Maharashtra, Bharatiya Mahila Bank, Canara Bank, Oriental Bank of Commerce, Union Bank of India and Vijaya Bank, among others.
The soft launch of UPI was announced by the outgoing Reserve Bank Governor Raghuram Rajan in April this year and was under pilot run, mainly with employee-customers, for some time.
The purpose of pilot run was to ensure that technical glitches, if any, are fixed and the product gives a smooth experience for immediate pay and collect with Virtual Payment Address (VPA), NPCI said.
After assessing the success of pilot run, RBI had accorded its final approval for public launch of the product.
NPCI had decided that only the banks with 1,000 pilot customers, 5,000 transactions and success rate of around 80 percent would be permitted to go live.
"Such a threshold criteria helped banks to refine their systems and procedure," Hota said.
UPI also provides an option for scheduling push and pull transactions for various purposes like sharing bills among peers. One can use UPI app instead of paying cash on delivery on receipt of product from online shopping websites and can pay for miscellaneous expenses like paying utility bills, over the counter payments, barcode (scan and pay) based payments, donations, school fees and other such unique and innovative use cases.
Now get Rs 10 lakh rail travel insurance at just 92 paise
-
A travel insurance cover of up to Rs 10 lakh can be availed while a booking train ticket online by paying less than Rs 1 from August 31. A passenger booking a train ticket through the IRCTC website will be able opt for travel insurance cover for a premium of only 92 paise from August 31, a senior railway ministry official said.
Railway minister Suresh Prabhu had in his Budget speech announced that the Railways will provide optional travel insurance for journey at the time of booking. The new facility will be available to all passengers excluding those travelling on suburban trains while booking online irrespective of the class. It will be started on a trial basis. The cover will not be applicable for children up to five years of age and foreign citizens. It will be for passengers holding tickets such as confirmed, RAC and wait-listed ones, the official added.
The scheme offers travellers/nominees/legal heirs a compensation of Rs 10 lakh in the event of death or total disability, Rs 7.5 lakh for partial disability, up to Rs 2 lakh for hospitalisation expenses and Rs 10,000 for transportation of mortal remains from the place of a train accident or where an untoward incident, including terrorist attack, dacoity, rioting, shootout or arson, occurs. However, no refund of the premium will be given in case of cancellation of the ticket.
The scheme is being implemented by IRCTC in partnership with ICICI Lombard General Insurance, Royal Sundaram General Insurance and Shriram General Insurance selected through a bidding process. A total of 19 companies had participated in the bidding process and 17 were found eligible. Three selected insurance companies will get to issue the insurance policy on a rotational basis through an automated system. IRCTC has engaged the firms for one year with the provision of extending the contract on a performance basis.
A travel insurance cover of up to Rs 10 lakh can be availed while a booking train ticket online by paying less than Rs 1 from August 31. A passenger booking a train ticket through the IRCTC website will be able opt for travel insurance cover for a premium of only 92 paise from August 31, a senior railway ministry official said.
Railway minister Suresh Prabhu had in his Budget speech announced that the Railways will provide optional travel insurance for journey at the time of booking. The new facility will be available to all passengers excluding those travelling on suburban trains while booking online irrespective of the class. It will be started on a trial basis. The cover will not be applicable for children up to five years of age and foreign citizens. It will be for passengers holding tickets such as confirmed, RAC and wait-listed ones, the official added.
The scheme offers travellers/nominees/legal heirs a compensation of Rs 10 lakh in the event of death or total disability, Rs 7.5 lakh for partial disability, up to Rs 2 lakh for hospitalisation expenses and Rs 10,000 for transportation of mortal remains from the place of a train accident or where an untoward incident, including terrorist attack, dacoity, rioting, shootout or arson, occurs. However, no refund of the premium will be given in case of cancellation of the ticket.
The scheme is being implemented by IRCTC in partnership with ICICI Lombard General Insurance, Royal Sundaram General Insurance and Shriram General Insurance selected through a bidding process. A total of 19 companies had participated in the bidding process and 17 were found eligible. Three selected insurance companies will get to issue the insurance policy on a rotational basis through an automated system. IRCTC has engaged the firms for one year with the provision of extending the contract on a performance basis.
RBI retains 'too big to fail' tag for SBI, ICICI Bank
-
RBI on Thursday retained 'too big to fail' tag for the state-owned SBI and private lender ICICI Bank for the second year in a row, calling them systemically important banks for 2016 requiring higher level of supervision.
In 2015, these two were identified for the first time as the domestic systemically important banks.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
Based on the Domestic Systemically Important Banks (D-SIBs) Framework and data collected from lenders as on March 31, 2016, these two have again been declared D-SIBs in 2016.
"RBI has identified State Bank of India (SBI) and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) in 2016 and has retained their bucketing structure as it was last year," the central bank said in a statement.
The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has to be done in phases. For these two, it has already been phased in from April 1, 2016, and will become fully effective April 1, 2019.
"The additional CET1 requirement will be in addition to the capital conservation buffer," RBI added.
Additional CET 1 requirement as a percentage of risk weighted assets (RWAs) for SBI and ICICI Bank stands at 0.6 pr cent and 0.2 per cent, respectively.
As per the framework, RBI will determine a cut-off score to determine which banks make the cut.
Banks are plotted into four different buckets and will be required to have additional Common Equity Tier 1 (CET1) capital requirement ranging from 0.2 per cent to 0.8 per cent of risk weighted assets, depending on the bucket they are plotted into.
The framework requires RBI to disclose the names of banks designated as D-SIBs every year in August.
Systemically important banks are perceived as ones that are 'too big to fail (TBTF)'. This perception of TBTF creates expectation of government support for them in distress. These banks also enjoy certain advantages in funding markets.
However, the perceived expectation of government support amplifies risk-taking, reduces market discipline, creates competitive distortions and increases probability of distress in future.
RBI on Thursday retained 'too big to fail' tag for the state-owned SBI and private lender ICICI Bank for the second year in a row, calling them systemically important banks for 2016 requiring higher level of supervision.
In 2015, these two were identified for the first time as the domestic systemically important banks.
Systemically important banks are subjected to higher levels of supervision to prevent disruption to financial services in the event of any failure.
Based on the Domestic Systemically Important Banks (D-SIBs) Framework and data collected from lenders as on March 31, 2016, these two have again been declared D-SIBs in 2016.
"RBI has identified State Bank of India (SBI) and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) in 2016 and has retained their bucketing structure as it was last year," the central bank said in a statement.
The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has to be done in phases. For these two, it has already been phased in from April 1, 2016, and will become fully effective April 1, 2019.
"The additional CET1 requirement will be in addition to the capital conservation buffer," RBI added.
Additional CET 1 requirement as a percentage of risk weighted assets (RWAs) for SBI and ICICI Bank stands at 0.6 pr cent and 0.2 per cent, respectively.
As per the framework, RBI will determine a cut-off score to determine which banks make the cut.
Banks are plotted into four different buckets and will be required to have additional Common Equity Tier 1 (CET1) capital requirement ranging from 0.2 per cent to 0.8 per cent of risk weighted assets, depending on the bucket they are plotted into.
The framework requires RBI to disclose the names of banks designated as D-SIBs every year in August.
Systemically important banks are perceived as ones that are 'too big to fail (TBTF)'. This perception of TBTF creates expectation of government support for them in distress. These banks also enjoy certain advantages in funding markets.
However, the perceived expectation of government support amplifies risk-taking, reduces market discipline, creates competitive distortions and increases probability of distress in future.
Patanjali becomes 3rd largest FMCG seller at Future Retail
-
Baba Ramdev promoted Patanjali Ayurved has become the third largest seller of FMCG products at the shelves of Kishore Biyani-led Future Retail.
"Patanjali has become number three in sales at Future Retail's stores. The number one is HUL followed by P&G and Patanjali is at number three at our place," Future Group CEO Kishore Biyani told PTI.
Patanjali, which had started its association with the Future group last October, is now followed by rivals like GCPL, Dabur, Emami etc.
He further said: "Its (Patanjali) sales is growing every month. It would grow 20 per cent this month from the previous month."
Besides, Future group, is also in talks for selling ayurvedic FMCG products of Sri Sri Ayurveda promoted by spiritual guru Sri Sri Ravi Shankar.
"We are also launching some products of Sri Sri Ravi Shankar. It's in process," Biyani added.
Future Group, which has several companies in its fold including Future Retail, Future Lifestyle Fashion, Future Consumer Enterprise etc, is expecting to end this fiscal with Rs 26,000 to 27,000 crore in overall revenue.
"This fiscal year Future would clock around Rs 26,000 to 27,000 crore," he said.
Last fiscal, it was around Rs 21,000 crore.
Moreover, Future Group is also planning a major expansion of its southern supermarket chain Nilgiris by adding more products and taking the store count to 1,000 in next three years.
The group, which had acquired the Bengaluru-based chain in 2014, is also launching new products in bakery to strengthen its portfolio.
Baba Ramdev promoted Patanjali Ayurved has become the third largest seller of FMCG products at the shelves of Kishore Biyani-led Future Retail.
"Patanjali has become number three in sales at Future Retail's stores. The number one is HUL followed by P&G and Patanjali is at number three at our place," Future Group CEO Kishore Biyani told PTI.
Patanjali, which had started its association with the Future group last October, is now followed by rivals like GCPL, Dabur, Emami etc.
He further said: "Its (Patanjali) sales is growing every month. It would grow 20 per cent this month from the previous month."
Besides, Future group, is also in talks for selling ayurvedic FMCG products of Sri Sri Ayurveda promoted by spiritual guru Sri Sri Ravi Shankar.
"We are also launching some products of Sri Sri Ravi Shankar. It's in process," Biyani added.
Future Group, which has several companies in its fold including Future Retail, Future Lifestyle Fashion, Future Consumer Enterprise etc, is expecting to end this fiscal with Rs 26,000 to 27,000 crore in overall revenue.
"This fiscal year Future would clock around Rs 26,000 to 27,000 crore," he said.
Last fiscal, it was around Rs 21,000 crore.
Moreover, Future Group is also planning a major expansion of its southern supermarket chain Nilgiris by adding more products and taking the store count to 1,000 in next three years.
The group, which had acquired the Bengaluru-based chain in 2014, is also launching new products in bakery to strengthen its portfolio.
General Awareness
Awards for Nine New Germplasm of Indigenous Farm Animals Registered as Breeds by ICAR
-
-
Dr. Trilochan Mohapatra, Secretary DARE & DG, ICAR chaired over a ceremony held at Krishi Bhawan, New Delhifor awarding certificates to the applicants of breed registration.
Breed registration :-
Registration is nothing but a documentation of the knowledge, skills and techniques (KST), and biological resources of local communities. The registration process is a critical pathway for public description and documentation of genetic materials.
- Recognizing the need for an authentic national documentation system of valuablesovereign genetic resource with known characteristics, Indian Council of Agricultural Research (ICAR) initiated a mechanism for “Registration of Animal Germplasm” by giving temporary authority to National Bureau of Animal Genetic Resources (NBAGR), Karnal in 2007.
- Subsequently in 2008, ICAR constituted aBreed Registration Committee (BRC) under the chairmanship of Deputy Director General (Animal Science), ICAR. This mechanism is the sole recognized process for registration of “Animal Genetic Resources” material at national level.
Complete list of Awardees:-
- Dr P.S. Bhandari, Chief Veterinary Officer, Department of Animal Husbandry, Champawat, Uttarakhand – registration of Badri cattle of Uttarakhand;
- Dr S. Jeyakumar, Senior Scientist along with 7 others form ICAR-CIARI, Port Blair – Teressa goat of A&N Islands;
- Dr T.J. Harikrishnan and Dr T. Ravimurugan – Kodi Adu goat and Chevaadu sheep of Tamil Nadu respectively;
- Dr Susanta Kumar Dash, Professor, OUAT, Bhubaneswar – Kendrapada sheep of Odisha
- Dr (Ms) M. Catherine Rutsa, Assistant Professor, Nagaland University – Tenyi Vo pig of Nagaland
- Dr S. Jeyakumar, Senior Scientist along with 8 others- Nicobari pig of A&N Islands
- Dr Galib Uz Zaman and Dr Subimal Laskar, Professor, AAU, Khanapara – Doom pig of Assam
- Dr Th. Ranadhir Singh from CAU Imphal, Dr P.K. Vij and Dr M.S. Tantia from ICAR-NBAGR Karnal – Kaunayen chicken of Manipur
- Dr. Trilochan Mohapatra appreciated the efforts of ICAR in cataloguing the animal genetic resources of the country and emphasized that registration of breeds will create a sense of ownership among local communities responsible for development of breeds.
- Dr. T Mohapatra stressed that the registration of various unique populations as breeds shall help in inventorization, improvement, conservation and sustainable utilizationof animal genetic resources of the country.
- Dr. Trilochan Mohapatra, Secretary DARE & DG, ICAR chaired over a ceremony held at Krishi Bhawan, New Delhifor awarding certificates to the applicants of breed registration.Breed registration :-Registration is nothing but a documentation of the knowledge, skills and techniques (KST), and biological resources of local communities. The registration process is a critical pathway for public description and documentation of genetic materials.
- Recognizing the need for an authentic national documentation system of valuablesovereign genetic resource with known characteristics, Indian Council of Agricultural Research (ICAR) initiated a mechanism for “Registration of Animal Germplasm” by giving temporary authority to National Bureau of Animal Genetic Resources (NBAGR), Karnal in 2007.
- Subsequently in 2008, ICAR constituted aBreed Registration Committee (BRC) under the chairmanship of Deputy Director General (Animal Science), ICAR. This mechanism is the sole recognized process for registration of “Animal Genetic Resources” material at national level.
Complete list of Awardees:-- Dr P.S. Bhandari, Chief Veterinary Officer, Department of Animal Husbandry, Champawat, Uttarakhand – registration of Badri cattle of Uttarakhand;
- Dr S. Jeyakumar, Senior Scientist along with 7 others form ICAR-CIARI, Port Blair – Teressa goat of A&N Islands;
- Dr T.J. Harikrishnan and Dr T. Ravimurugan – Kodi Adu goat and Chevaadu sheep of Tamil Nadu respectively;
- Dr Susanta Kumar Dash, Professor, OUAT, Bhubaneswar – Kendrapada sheep of Odisha
- Dr (Ms) M. Catherine Rutsa, Assistant Professor, Nagaland University – Tenyi Vo pig of Nagaland
- Dr S. Jeyakumar, Senior Scientist along with 8 others- Nicobari pig of A&N Islands
- Dr Galib Uz Zaman and Dr Subimal Laskar, Professor, AAU, Khanapara – Doom pig of Assam
- Dr Th. Ranadhir Singh from CAU Imphal, Dr P.K. Vij and Dr M.S. Tantia from ICAR-NBAGR Karnal – Kaunayen chicken of Manipur
- Dr. Trilochan Mohapatra appreciated the efforts of ICAR in cataloguing the animal genetic resources of the country and emphasized that registration of breeds will create a sense of ownership among local communities responsible for development of breeds.
- Dr. T Mohapatra stressed that the registration of various unique populations as breeds shall help in inventorization, improvement, conservation and sustainable utilizationof animal genetic resources of the country.
No comments:
Post a Comment