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Nagar Kirtan taken out to celebrate birth anni of Guru Gobind Singh

Excelsior Correspondent

Sikh community people during Nagar Kirtan at Mishriwala on Sunday.
Sikh community people during Nagar Kirtan at Mishriwala on Sunday.

JAMMU, Dec 29: Nagar Kirtan Committee, Rural Block Marh, Bhawal organised a “Nagar Kirtan” to commemorate the 348th birth anniversary of 10th Guru Gobind Singh.
Large number of people of Sikh community from Mishriwala, Dayaran, Jungwari, Purkhoo, Pandoria, Dubban, Gajansoo, Tatryal, Marh, Simbliyan, Ambaran, Chafarchack, Kanachack, Domana and Batehra participated in the procession, which started from Singh Sabha Gurudwara Dayaran and after passing through Mishriwala and Pandoria culminated at Singh Sabha Gurudwara Chafarchak.
Minister for PHE, Irrigation and Flood Control Sham Lal Sharma, Minister for Planning Ajay Sadhotra, Member Legislative Assembly (MLA) Raipur-Domana Bharat Bhushan Sharma, Member Legislative Assembly (MLA) Marh Sukhnandan Sharma and senior PDP leader Suram Singh also attended the function.
The Nagar Kirtan was organised under the presidentship of Sukhjit Singh and parbandhaks Mohan Singh, Gurbachan Singh, Kulwant Singh, Joginder Singh, MS Pandey, Rajinder Singh, Tara Chand and Kehar Singh.

RIL, BP to give $1.2 bn bank guarantee for higher gas price

NEW DELHI, Dec 29: Reliance Industries and its partners BP Plc of UK and Canada’s Niko Resources may have to provide a maximum of USD 1.2 billion in bank guarantees over three years to get nearly double the rate for natural gas being produced from the main fields in KG-D6 block.
The Cabinet Committee on Economic Affairs (CCEA) had on December 20 decided to allow RIL to almost double the price of natural gas from April, 2014  provided the firm gave a bank guarantee to cover its liability if gas-hoarding charges are proved.
The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main Dhirubhai-1 and 3 (D1&D3) fields in the eastern offshore KG-D6 block since 2010-11, sources said.
Considering gas prices will rise from USD 4.2 per million British thermal unit to USD 8.2-8.4 after the Rangarajan pricing formula comes into effect from next fiscal, the bank guarantee – being the difference of current and new price – for every trillion cubic feet of gas production will come to USD 4 billion.
Sources said the bank guarantee for the entire remaining recoverable gas reserves of about 0.75 Tcf in D1&D3 fields comes to USD 3 billion. At current rate of production of about 8 million standard cubic meters per day, D1&D3 will produce about 0.3 Tcf in the next three years – the time that may be needed to settle the issue of gas hoarding charges.
The bank guarantee for 0.3 Tcf comes to USD 1.2 billion, they said. Of this, the share of RIL, which holds 60 per cent stake in KG-D6, will come to USD 60 million per quarter. BP has 30 per cent interest and the remaining 10 per cent is with Niko.
D1&D3, the first of the 19 discoveries in eastern offshore KG-D6 block that was put on production in April 2009, originally was estimated to hold 10.03 Tcf of reserves. But these were last year slashed to 2.9 Tcf based on production data for first three years when wells were shut one after another following water and sand sweeping inside along with sharp drop in reservoir pressure.
Of the re-stated reserves of 2.9 Tcf, about 2.2 Tcf have already been produced in first four-and-half-years and balance of about 0.75 Tcf remains to be produced.
Sources said the new rate will apply to all other fields in KG-D6 without any preconditions. The currently producing MA oil and gas as well as fields like R-Series and satellite discoveries that will come into production in 2016-17 will also get the new rates without any preconditions. (AGENCIES)

Dev projects hanging in balance due to mis-governance: Gupta

Excelsior Correspondent
JAMMU, Dec 29: Questioning the claims of the ruling leaders about progress and developmental activities, the former Union Minister and MLA Prof Chaman Lal Gupta alleged that much of the parleys have been held up but for political considerations and mis- governance.
Responding to the complaints of the activists of his Jammu West Assembly constituency regarding deteriorated conditions of the roads, lanes and nallahs, Prof Chaman Lal Gupta observed that this sad situation is a clear aspersion on the functioning of the State Coalition Government, which is guided by more of political considerations rather than sincerity to have development and find out solution to the problems facing the people.
This is not only depriving the people of the benefits of these schemes but also crores of public funds are going to the drains. In this regard, he particularly referred to the execution of introducing of sewerage system in this city, construction of convention complex, artificial take on Jammu Tawi etc.
Gupta pointed out the construction of a bridge on the Ravi at Basohli coupled with the Basohli -Bani – Bhaderwah Road are of great importance on many accounts including the defense, connectivity, tourism and over all development of the backward areas but these two major schemes are lingering on for not only years but decades now.
What to say of the major projects, even the small works under the constituency development fund (CDF) have been held up for the past several months now due to which an awful situation is being created all around obviously under a design, he rued.

Market-cap of 8 Sensex firms up Rs 25,815 cr; TCS, ONGC shine

MUMBAI, Dec 29: The combined market capitalisation of eight Sensex companies rose by Rs 25,815 crore last week, with giants TCS and ONGC contributing the most.
Among the top-10 Sensex companies, only Reliance Industries and Coal India lost value in an overall strong stock market the past week.
The market value of IT major TCS shot up by Rs 7,717 crore to Rs 4,22,879 crore, making it the biggest gainer among the top-10 firms.
State-run ONGC’s m-cap climbed Rs 6,588 crore to Rs 2,49,863 crore, while FMCG giant ITC’s market value surged Rs 5,524 crore to Rs 2,55,602 crore.
ICICI Bank added Rs 2,386 crore to Rs 1,27,913 crore in value, while Wipro’s m-cap soared by Rs 1,592 crore to Rs 1,36,934 crore.
HDFC Bank’s m-cap jumped Rs 1,076 crore to Rs 1,60,270 crore, while that of Infosys rose by Rs 572 crore to Rs 2,04,557 crore and Bharti Airtel’s value went up by Rs 360 crore to Rs 1,31,434 crore.
The m-cap of Reliance plunged Rs 4,831 crore to Rs 2,83,929 crore and Coal India lost Rs 821 crore to Rs 1,78,721 crore in value.
In the ranking of the top-10 companies, TCS continued to rule the chart, followed by Reliance, ITC, ONGC, Infosys, Coal India, HDFC Bank, Wipro, Bharti Airtel and ICICI Bank.
The benchmark 30-share S&P BSE Sensex rose 113.86 points to close the week at 21,193.58. (AGENCIES)

Thieves arrested, gold worth Rs 6 lakh recovered

Excelsior Correspondent
Srinagar, Dec 29: A gang of non-locals and a local state resident was busted in South Kashmir’s Anantnag district and gold worth Rs six lakh was recovered from their possession.
Touseef Ahmad, a police officer said they received number of theft complaints from locals of the area. “Today in this connection we busted a gang of five non-local robbers, which has been involved in robbing gold ornaments from residents during the nigh-hours,” Ahmad said.
The arrested gang members were identified as Mohammad Arif Malla, Izhar Sheikh, Mehfooz Ali Sheikh, and Shaheen Ahmad Sheik all from Kolkata, West Bengal and one Gopal Sharma from Akhnoor district of Jammu division.
He said it can be a tip of an ice berg, as non-locals are involved in thefts and more persons may be arrested very soon.
He said police registered an FIR number 370/13/454, 380, 411 RPC against these thieves.

IDBI MF plans to increase retail reach next year

MUMBAI, Dec 29: IDBI Mutual Fund aims to increase its retail presence next year as part of a plan to achieve sustainable and profitable growth, a top company official has said.
“We are now looking at long-term sustainbility…We are now trying to target retail customers. Our main focus will be on retail segment, where the growth may be slower…But the number of folios and investor addition will be faster,” IDBI MF chief executive Debashish Mallick told reporters.
“As of now, the number of our folios stand at 1.5 lakh…We will try to cross 2.5 lakh figure by the end of next year,” he said, adding that sound performance of its equity schemes will provide an impetus to attract retail investors.
As per the fund house, it has grown very fast compared to others which have started operations in the last three years.
It is also working on increasing its distribution reach by tying up with more banks and ramping up its presence under online platforms.
“We are increasing bank network by tying up with Syndicate Bank, Indian Overseas Bank, Corporation Bank, and Federal Bank among others. We are also in talks with few private sector new generation banks for increasing our reach,” Mallick said.
He also said the fund house will come up with new products in equity and debt spaces next year.
The average assets under management of IDBI MF stood at Rs 4,669 crore at the end of the September quarter. (AGENCIES)

Natrang presents ‘Reed-Rahit’

Excelsior Correspondent

A  scene from the play ‘Reed-Rahit’ staged in Natrang Sunday Theatre Series.
A scene from the play ‘Reed-Rahit’ staged in Natrang Sunday Theatre Series.

JAMMU, Dec 29: Natrang presented Russian writer Anton Chekhov’s “Nincompoop” in Hindi as “Reed-Rahit” here in its Sunday Theatre Series here today.
The play was directed by Neeraj Kant.
The play opens in the house of one landlord who wanted to settle down his account with Mohan, the instructor of his children, who has not paid the salary for the last two months. In the play the landlord tries to teach a lesson of self-respect and dignity of labour to Mohan. In this context he created a drama in reality and he started debating on the amount to be paid to Mohan, he tells him that he has to pay him Rs 1,100 only, after ridiculously forged deductions, against the expected and promised amount of Rs 8, 000.
Very gullible by the nature, Mohan just sits there, without saying a word in support of his genuine payment he accepts the money with gratitude.
Aggravated by such kind of nincompoop/spine less behaviour of Mohan, landlord bursts into an indignant rage and tells him that he should speak up for his rights and shall not allow anyone to exploit him, if we remain silent, no one will come to our support, thus we have to speak boldly and fight righteously for our rights. At the end, the landlord pays him Rs 8, 000, putting an end to his human experiment in humiliation.
Thus, a lesson was given to all those who are too submissive to stand for themselves and allow other to take benefit of the same.
Natrang actors who acted in the play included Rishiv Prabhakar, Sachin Saini, Sachin Bamba, Sakshi Parkash and Juhi Singh. The lights were operated by Neeraj Kant and music was scored by Sushil Raina. The sets were designed by Rahul Singh, while Ashwani Bali presented the show before the audience. The show was coordinated by Mohammad Yaseen.

Coal India may go for PPP model to produce gas from coal bed

KOLKATA, Dec 29: Coal India is likely to adopt the public–private partnership (PPP) model to harness the coalbed methane (CBM) opportunity from its existing mines.
“Coal India is unlikely to invest in developing CBM, rather we will appoint an operator for the same on turnkey basis who will bring in resource and technology,” sources close to the development told reporters.
“We propose to select the operator who will share maximum revenue with us, no matter if it is a private entity or PSU,” they said.
The sources said Coal India had no restriction in inducting a CBM private operator and the tender inviting expression of interest was expected by March, 2014.
Earlier this month, the Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister Manmohan Singh, allowed Coal India, the world’s largest coal miner, to explore and produce CBM in its existing mines.
CIL had short-listed five blocks in Jharkhand with estimated CBM reserves of about 1 Tcf for exploration in the first stage, they added.
Extracting methane gas ahead of coal mining from seams would allow CIL help unlock very significant quantities of coal reserves in Jharkhand and West Bengal.
CBM extraction would help CIL unlock nearly 100 million tonne of medium grade coking coal and about 1 Tcf of gas.
CIL holds at least 20 per cent of the estimated 60 billion tonne of coal resources in India. It has several coal mines in eight states, which were estimated to have CBM reserves of 3.5-4 trillion cubic feet (Tcf).
Many were gaseous and unsafe mines, where mining of coal was possible only after the extraction of CBM.
Since 2001, 33 CBM blocks were awarded in four auction rounds. Besides, two CBM blocks were awarded to Oil and Natural Gas (ONGC) and one to Great Eastern Energy Co. Ltd were awarded on a nomination basis. (AGENCIES)

IGP Railways conducts track inspection in Banihal

Excelsior Correspondent
Srinagar, Dec 29: Inspector General of Police Railways Mohammad Sulaiman Salaria conducted track inspection in Banihal.
Salaria, accompanied by Nissar Ahmad, DIG Railways and Bashir Ahmad Aitu SSP Railway Kashmir, also held a review meeting .
A police spokesman said the IGP was apprised about the problems being faced by manpower all along the track/stations from Baramulla to Banihal.
“The IGP during his interaction with Railways Police men asked them to be extra vigilant and alert on the track and ensure safety and security of Railway property and directed not to create loopholes in the security system at track and stations so as to enable unabated train movement on the track in the Valley,” the spokesman said.
Salaria also held Darbar of GRP officers/officials and stressed upon them to develop close and cordial relations with all concerned agencies who are involved in the security of Railway property in Valley, especially with RPF/district Police.

More than 22,000 appear for UGC NET

Excelsior Correspondent

Candidates appearing in UGC NET on Sunday.
Candidates appearing in UGC NET on Sunday.

JAMMU/SRINAGAR, Dec 29: More than 22 thousand candidates across Jammu and Kashmir appeared in the National Eligibility Test (NET) of the University Grants Commission, which was held today.
In Jammu, 10185 candidates appeared and total 15 Centres were set up for conducting the test, which passed off successfully, informed Prof Rajni Kant, Chief Coordinator of the UGC-NET Exam in Jammu.
Around 750 officials, including UGC observers and Jammu University staff were engaged for conducting the exam at these centres, which were set up in different educational institutions in Jammu, he added.
Similarly at Kashmir, 11,900 students appeared in the NET, which was conducted by the Department of Chemistry in Kashmir University as the nodal agency for holding the exam with Prof Ghulamae-Mustafa Peerzada as Chief Coordinator.
According to Prof Peerzada, the test was conducted at 16 sub centers across Srinagar City. More than 85 percent of the students who had applied through the main centre number 31 of the University of Kashmir appeared in the test, he added.
Qualifying the UGC-NET makes a candidate eligible for teaching positions and fellowships at the State and national level.
The prestigious test is conducted twice an year; on last Sunday of July and December months.