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India set to become SINGAPORE, Nov 17: India, which conducted bilateral trade amounting to 6.7 billion Singapore dollars with this city state last year, is set to become a key economic partner, says an official market study.......more Free mite treatment to BANGALORE, Nov 17: A massive free mite treatment to 12.5 million affected coconut trees in....more Corporation Bank plans LUCKNOW, Nov 17: Leading public sector financial institution, Corporation Bank.....more |
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India holds
talks with B’desh on energy cooperation DHAKA, Nov 17: A team of top Indian officials representing power and Petroleum Ministries today .....more State Bank of CHANDIGARH, Nov 17: State Bank of Patiala (SBP) today introduced ‘anywhere banking’ by inter.......more Hundreds of CHENNAI, Nov 17: Hundreds of striking transport workers, including trade union leaders, courted arrest when police prevented.......more |
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Free mite treatment to coconut trees in K’taka BANGALORE, Nov 17: A massive free mite treatment to 12.5 million affected coconut trees in Karnataka will commence from November 19 at a cost of Rs 40 crore. The three-phase treatment to be taken up over the next three months will cover 12 districts where the mite infection has been severe, leading to a massive agitation by farmers demanding tapping of Neera, an unfermented coconut drink, which they believed could rid the trees of the insects. Social Welfare Minister Kagodu Thimmappa told newspersons here today that the treatment involved injecting the affected trees with chemical and bio-pesticides. Chief Minister S M Krishna was likely to formally inaugurate the treatment in a village in Gubbi Taluk of Tumkur district, one of the worst affected. Mr Thimappa said all necessary arrangements to start the massive operations have been completed and 50 volunteers from each Gram Panchayat have been provided with necessary training to inject chemicals into coconut trees. Due to the spread of mite disease the yield of coconut had come down drastically and the price of coconut and copra had also crashed. The Government had resorted to market intervention operations to purchase both copra and coconut to arrest the fall in price. Till last week, the Government had procured 5000 quintals of copra, Mr Thimappa said. The Government had set aside Rs 50 crore for procurement of copra and coconut. (UNI) |
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Corporation Bank plans to strengthen its status LUCKNOW, Nov 17: Leading public sector financial institution, Corporation Bank, has now prioritised its "non-interest income" sector to strengthen the bank’s status in the global competition scenario. The bank, ranked top among the country’s other public sector banks, would also install 250 ATMs and connect its over 400 branches in the country through "cluster banking" system during the current financial year. Addressing a press conference here today, the bank’s executive director P K Gupta disclosed that the bank’s positive burden is the main reason for its rising profit while most of other banks observe a negative burden. He explained that the bank has a positive burden because its non-interest income is more than the non-interest expenditure, which enables them to fulfil all the financial commitments. The other banks, he added, have to use the income from interest to meet their financial obligations. "We are now focussing towards the non-interest sector by taking steps such as entering the credit card and Collection and Payment (CAP) sectors," Mr Gupta said. The bank, which had received the best bank award for excellence in banking technology sponsored by Reserve Bank of India (RBI), has earmarked Rs 125 crore for technology upgradation during the current fiscal for installing the ATMs and making all the branches on-line. Mr Gupta said that corporation bank has prepared a "vision" to celebrate 100 years of its establishment in the year 2006 by achieving the target of having an annual turnover of Rs 70,000 crore from the present Rs 25,000. Regarding the bank’s performance, he said the capital adequacy of the bank is about 18 per cent, which was top among the other commercial banks while the net Non-Performing Assets (NPA) was merely two per cent. He said the bank has recorded a growth of 26.80 per cent in gross profit at Rs 247.93 crore as on September 30, 2001 despite difficult market conditions. The bank’s net profit also recorded a jump by 28.25 percent to reach Rs 171.28 crore during that period. Mr Gupta said the bank has made a preferential allotment of 2.34 crore equity shares of Rs 10 each to Life Insurance Corporation (LIC) at a premium of Rs 186 per share, thereby, increasing LIC’s stake in the bank to 27 per cent from the earlier 12.32 per cent. He said that the bank would install three ATMs in Lucknow and one each at Noida and Ghaziabad. (UNI) |
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India holds talks with B’desh on energy cooperation DHAKA, Nov 17: A team of top Indian officials representing power and Petroleum Ministries today held talks with Banglalesh ministers and officials on bilateral cooperation in energy sector including sale of natural gas. A five-member delegation, which includes Power Secretary A K Basu and Petroleum Secretary V N Kaul arrived here today to attend South-Asian sub-regional economic cooperation meeting which begins tomorrow . The energy working group meet, a part of the two-meeting being organized by Asian Development Bank, comprises Bangladesh, Bhutan, India and Nepal. Basu held talks with Minister of State for Power Iqbal Hasan Mahmud soon after arrival. Indian delegation sources said the outcome of the meeting was positive. Meanwhile, the authorities have formed technical committee to ascertain the natural gas reserve in Bangladesh as thm US reportedly expressed annoyance on Dhaka’s delay in taking a decision on the gas. Mosharaff Hossain had earlier said a decision on same of gas would be taken by the middle of November. The Indian delegation time a day after Bangladesh Left parties enforced a countrywide general strike, backud by main opposition Awami League, protesting Prime Minister Khaleda Zia Government’s reported move to sell gas to India. (PTI) |
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State Bank of Patiala introduces "anywhere banking" CHANDIGARH, Nov 17: State Bank of Patiala (SBP) today introduced ‘anywhere banking’ by inter-linking its branches at Chandigarh, Mohali, Panchkula and Chandi Mandir (Haryana) to provide enhanced banking access to its account-holders. A bank spokesman said here that in due course the facility will be extended to Delhi, Ludhiana and Patiala. SBP has also launched ‘anytime banking’ by introducing five ATMs at Chandigarh and Panchkula as part of its plans to install 25 ATMs in different states. The spokesman said the number of fully computerised branches has increased to 334 from 260 in March this year. Seventy two more branches are planned to be computerised by March next, he said, adding 8 per cent of the business would be computerised then. The bank’s aggregate deposits stood at Rs 12,116 crore on September 30 this year showing a growth of 21.79 per cent over the corresponding date last year while the advances at Rs 7,232 crore posted a growth of 18.70 per cent as compared with last years’s figures the spokesman added. (PTI) |
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Hundreds of striking transport workers court arrest CHENNAI, Nov 17: Hundreds of striking transport workers, including trade union leaders, courted arrest when police prevented them from taking out a rally from the Chennai Metropolitan Transport Corporation office to the State guest house after a protest demonstration here this evening. The agitation for 20 per cent bonus entered its eighth day today, even as talks with the State Government have remained deadlocked. Addressing the transport employees before being whisked away, CITU state general secretary T K Rangarajan, leader of the joint struggle committee A Soundarrajan and president of the Left Progressive Front (LPF) C Kuppuswamy warned that the State Government would be faced with a state-wide industrial bandh if it did not concede to their just demands of 20 per cent bonus and immediate release of all the employees arrested so far. The leaders appealed to the workers not to resort to any violence. Mr Rangarajan said employees of the Tamil Nadu Electricity Board and Civil Supplies Department were already supporting the demand of the transport employees. There is no financial constraint in Tamil Nadu there is only the constraint of justice to the just demand of the workers,’’ he said. Mr Rangarajan claimed that during the last eight days of the strike 1,600 employees had been arrested all over the State. We will fight till our demands are met’’, the trade union leaders asserted. The striking transport employees first gathered at the venue of the demonstration displaying flags of their respective trade unions and with the arrival of their leaders started shouting slogans against the Government. (UNI) |
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