Bank registers deposit growth rate of 20 per cent in one year
Central Cooperative
Land Development Bank
advanced Rs 76 crores

Excelsior Correspondent

Srinagar, May 25: The Jammu and Kashmir Central Co-operative Land Development.........more

NRCS to be
executed in 80 districts

NEW DELHI, May 25: The National Reconstruction Corps Scheme (NRCS), devised to channelise the energy of the youth for national ....more

Gold prices tumble
on weak global note

NEW DELHI, May 25: Gold prices declined sharply on the bullion market today on reduced offtake in the face of.......more

India urges rich
countries to hike
ODA for child welfare

NEW DELHI, May 25: India has urged developed countries to meet all their obligations under the Copenhagen Social Development Summit 1995 and ...more

Cyclone may strike
Gujarat by Saturday night

PUNE, May 25: A very severe cyclonic storm over central Arabian Sea may strike Gujarat........more

Govt formulates new
discretionary quota policy

NEW DELHI, May 25: The Government has formulated a new discretionary quota policy.....more

India, Myanmar sign
MoU on road maintenance

BANGKOK, May 25: India and Myanmar today signed a Memorandum of Understanding (MoU).....more

Ajit Jogi
Ajit Jogi

Jogi takes initiative to
re-start Bhilai unit of BRL

RAIPUR, May 25: Chhattisgarh Chief Minister Ajit Jogi has taken the initiative to re-start.....more

 

Bank registers deposit growth rate of 20 per cent in one year
Central Cooperative Land Development Bank
advanced Rs 76 crores

Excelsior Correspondent

Srinagar, May 25: The Jammu and Kashmir Central Co-operative Land Development Bank (CCLDB) has advanced Rs. 76 crores in the Agriculture sector among 59000 individual agriculturists in the State so far.

This was revealed at a meeting of the Board of Directors of the Bank which met here today to review the working of the Bank and suggest measures for making it more viable.

The Minister for Agriculture and Cooperatives, Ch. Mohammad Ramzan presided.

Besides the Board members, the Financial Commissioner, Agricultural Production, Mr. I.S. Malhi, Chief General Manager, NABARD, J&K Unit, Mr. Bhawal Puri, Registrar Cooperatives, Dr. G.A. Dar and Secretary Cooperatives, Mr. Abdul Salam Bhat also attended the meeting.

The Bank has a target of advancing loans amounting to Rs 8 crore during the current year against the last year’s advances of Rs 5 crores. Out of the cumulative outstanding of Rs 32 crore, the bank has recovered 45 per cent of it so far, while the recovery position of the current loans is around 74 per cent. Its deposits recorded a growth rate of 20 per cent in a single year. It went up to 77.2 per cent in 1999-2000 against 57.7 per cent 1998-1999.

The Board had a threadbare discussion on the working of the bank and suggested various measures for making it more viable and result oriented. The Board asked the management to reduce its administrative expenditure, besides imposing a blanket ban on fresh recruitments. It was impressed upon the bank management to complete the statutory audit of the accounts for the year 1996-1997 by the end of July and for 1997-1998 by end of October this year. The voluntary inspection of the bank has been completed by NABARD up to 31st March 2000.

The Board asked the bank to adopt specific loaning pattern as per its mandate and fix recovery targets for every branch. It was decided that those officials who fail to fulfill the recovery targets would be punished, besides with holding their salaries.

The Board asked the management to launch prosecutions against the chronic defaulters for arranging recoveries of the outstanding loans. For achieving this objective, the bank should highlight the names of the defaulters in the local newspapers.

For improving the efficiency of in-service staff, it was decided to launch a short duration training programme with the assistance of NABARD.

The Board directed the management to empower Managers at district level for purposes of sanctioning loans at the district headquarters itself. The Board made it clear to the bank that no public funds should be utilized for meeting the administrative expenditure and the shortfall of staff in any branch of the bank should be met within the available manpower. The bank was also directed to invest towards sinking fund and deficit to this effect, if any, should be met forthwith.

NRCS to be executed in 80 districts

NEW DELHI, May 25: The National Reconstruction Corps Scheme (NRCS), devised to channelise the energy of the youth for national reconstruction in the key areas of health, literacy and empowerment, would be implemented in 80 districts across the country on an experimental basis, Minister for Youth Affairs and Sports Uma Bharti said here today.

Nehru Yuva Kendra Sangathan, the nodal agency for the implementation of the scheme, will execute the scheme in the districts identified for the pilot project, Bharti said addressing a meeting of District Magistrates and Collectors here.

The scheme, she said, will be evaluated after two years to decide whether to replicate it in other districts of the country.

The minister said the scheme has been designed to guide the youth to devote at least one year of their lifetime for nation-building.

"There is a selfless feeling deep inside the youth in their prime to do something for the country. The scheme will try to tap it for national reconstruction," she said.

Unlike other schemes, NRCS has been envisaged to involve the participation of the youth on voluntary basis, the minister said.

Bharti said that NRCS has been conceived to give a free hand to the district advisory committees for identifying the people’s priorities of developmental issues to be addressed in a particular district. (PTI)

Gold prices tumble on weak global note

NEW DELHI, May 25: Gold prices declined sharply on the bullion market today on reduced offtake in the face of local stockists off-loading influenced by a weak overseas note and lost Rs.60 at Rs.4550 per ten gram.

Marketmen said gold, reaching to a high level of Rs.4675 during this week, attracted selling from stockists mainly of profit-booking kind.

They said the selling pressure came at a point when there was demand from any sector following off marriage and festival season.

Selling was triggered after a constant fall in yellow metal prices in international market. It lost almost 3.50 US dollar an ounce at 279.50 US dollar.

Gold in other Asian markets had gone high to 298 US dollar on Monday on increased buying by commodity funds.

Standard gold and ornaments lost Rs.60 each at Rs.4550 and Rs.4400 per ten gram respectively. Sovereign also joined the downtrend and lost Rs.25 at Rs.3850 per piece of eight gram.

Silver ready, on the other hand, recovered sharply by Rs.45 at Rs.7535 per kilo and weekly based delivery by Rs.25 at Rs.7525 per kilo. Silver coins, however, held unchanged at Rs.11,000/11,200 per 100 pieces.

Following were today’s quotations: Silver ready 7535 and delivery 7525. Silver coins buyer 11,000 and seller 11,200 standard gold 4550, ornaments 4400 and sovereign 3850. (PTI)

India urges rich countries to hike ODA for child welfare

NEW DELHI, May 25: India has urged developed countries to meet all their obligations under the Copenhagen Social Development Summit 1995 and earmark a higher percentage of their Official Development Assistance (ODA) for the welfare of children across the globe.

Stating this today, Human Resource Development Minister Murli Manohar Joshi said the Government’s proposal for adoption of life cycle approach to address health and nutrition of children and women has also been welcomed by the international community and incorporated into the document being prepared for the special UN General Assembly on children slated for September this year.

Briefing presspersons on the just-concluded South Asian high-level meeting on children held in Kathmandu, preparatory to the september summit, Dr Joshi said adoption of the life cycle approach was a vital feature which India was able, for the first time, to get incorporated into the document.

The inter-generational link between an infant, adolescent girl and mother has been recognised in the document as well as the need for an inter-generational strategy to combat it, he said.

Discussing the challenges facing the country, the minister said India accounts for 40 crore of the total 56 crore child population in South Asia. While Infant Mortality Rate (IMR) and Maternal Mortality Rate (MMR) have reduced from 80 to 68 per 1000 live births and 437 to 407 per 100,000 births respectively much more needs to be done, he observed.

Describing anaemia in women as a major cause for high IMR and MMR rates, Dr Joshi said incidence of anaemia had dropped from 87.5 to 58 per cent. "With more efforts such as improving dietary habits and increasing supplementary nutrition we can reduce this further", he said.

Those present at the press briefing included Minister of State for Women and Child Development Sumitra Mahajan and Ms Maria Calivis, UNICEF country representative for India.

Delegations from India, Pakistan, Sri Lanka, Bangladesh, Maldives, Bhutan and Nepal attended the high-level Kathmandu meeting. The Indian delegation was led by Dr Joshi and included Ms Mahajan and Mr B K Chaturvedi, Secretary, Department of Women and Child Development.

Observing that poverty in the third world and lack of resources was denying many children the basic components of a dignified life, Dr Joshi said one of the main demands at the september summit would be to get a commitment from developed countries to give seven per cent of their gdp towards child welfare programmes. "We have called upon all developing countries to unite and forge a strong alliance to make rich countries provide resources", he added.

Stating that India’s contribution to the "Kathmandu understanding" consensus document was substantial, Dr Joshi said the emphasis on survival goals pertaining to health, nutrition, education, micronutrient deficiencies, IMR and MMR rates and campaign against gender discrimination from childhood to adulthood was highlighted at the meeting.

India took the stand that these must be categorically included in the world summit goals. Similarly, inculcation of sound values for the development of children was also stressed.

India also called upon the international community to support the cause of children through promoting a non-violent, non-exploitative international order. The need for ensuring structural adjustment with a human face and trade and tariff arrangements for preferential access to developed countries was also stressed, Dr Joshi informed.

Ms Calivis said India which has 22 per cent of the children living in developing countries can play a leading role for children not only regionally but internationally. (UNI)

Cyclone may strike Gujarat by Saturday night

PUNE, May 25: A very severe cyclonic storm over central Arabian Sea may strike Gujarat on Saturday night or early May 27, the Meteorological Department said here today.

Chief of the Department Dr A B Mazumdar told PTI that earlier the cyclone had shown a slight deviation from its course raising hopes that it might skip Gujarat like Goa and Maharashtra earlier. But its direction this afternoon indicates that it may head towards Gujarat, he said.

The position of the cyclone last night was 500 kms south of Veraval coast and was still located in the same range, he said adding it could trigger a gale with wind speed reaching 220 kmph.

Besides a storm surge of 2.5 to 4.0 m height was likely above astronomical tide, which might innundate low-lying areas.

Meanwhile, Army personnel have reached coastal areas of gujarat and started evacuating people, a Gandhinagar report said. Patrolling has been intensified with as many as 90 mechanised boats and about 600 manual boats pressed into service.

At least 600 salt producers from Surat, 5585 from Surendranagar, a thousand from Bharuch and 100 from Junagadh have been shifted to safer places, official sources said. (PTI)

Govt formulates new discretionary quota policy

NEW DELHI, May 25: The Government has formulated a new discretionary quota policy for petroleum product dealerships to accommodate the widows and dependants of defence, paramilitary and police personnel killed in anti-insurgency operations.

An official release here today said this was being prepared as per the directions of the Supreme Court.

The Apex court in a judgement related to the discretionary allotment of dealership of petroleum products had asked the Government to prepare guidelines in before making any such allotment in the future.

Under the new scheme, the government has decided to earmark certain number of retail outlet dealerships of Liquefied Petroleum Gas (LPG) distributorships, kerosene and light diesel oil dealerships for allotment to the under the discretionary powers of the government.

The scheme will also cover the dependents of central and state Government employees who are killed or permanently disabled while performing their duties and have not been suitably rehabilitated. (UNI)

India, Myanmar sign MoU on road maintenance

BANGKOK, May 25: India and Myanmar today signed a Memorandum of Understanding (MoU) on maintenance of the Indian built 160-km Tamu-Kalemyu road, which connects the two countries.

The MoU was signed in Yangon by L K Ponappa, Additional Secretary, Ministry of External Affairs and Y Nay Soe Naing, Director, Ministry of Construction, Myanmar.

The Tamu-Kalemyu road, starting from Tamu at the India-Myanmar border, was built by India as a fully aided project and inaugurated in February by External Affairs Minister Jaswant Singh during his visit to Myanmar. Tamu is 840 kms northwest of Yangon.

Under the MoU, India will be responsible for the maintenance of the road for the first six years by providing the services of an Indian road maintenace force, alongwith material and manpower, sources in Yangon said.

India is also to provide training on maintenance of equipment to a few Myanmar officials. After getting on-the-job training, Myanmar will be responsible for the maintenance of the road after six years.

India has also decided to gift the equipment used while upgrading the Tamu-Kalemyu-Kalewa road to be used in the construction of the Kalewa-Monywa road which would improve transport linkages between the two countries.

The signing ceremony was attended by senior officials from Myanmar and the Indian Envoy in Yangon Shyam Saran. (PTI)

Jogi takes initiative to re-start Bhilai unit of BRL

RAIPUR, May 25: Chhattisgarh Chief Minister Ajit Jogi has taken the initiative to re-start the Bhilai unit of the Bharat Refractories Limited (BRL).

According to official sources, Mr Jogi in a letter to Union Minister of State for Steel Brij Kishore Tripathi had requested for not closing down the Central Government undertaking due to financial problems.

In his reply Mr Tripathi informed that the Finance Ministry was considering a proposal to provide financial assistance of Rs 72.08 crores for the smooth functioning of the BRL’s Bhilai and other units. Mr Tripathi also assured that the BRL units would be restarted on getting financial assistance. (UNI)



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