Current News 8 September 2013

Current News 8 September 2013-www.Bamura.com

1,500 MW Tipaimukh project in the North East

1,500 MW Tipaimukh hydroelectric power project located in Manipur and Mizoram .
The committee turned down a proposal for the diversion of 1,550 hectares of forest land required for the project in Mizoram at its last meeting in August.

"This project requires 24,329 hectares of forest land, which is more than one-fifth of the total 118,184 hectares of forest land diverted for execution of 497 hydel project in the entire country after the Forest Conservation Act came into force," according to the minutes of the committee meeting that have just been made public.

The Central Electricity Authority gave the project its techno-economic clearance in July 2003, while the public investment board gave its approval in January 2006.

The environment clearance was granted by the environment ministry in October 2008.

The project has faced opposition from civil society, conservationists and residents of the area.

Muthoot to set up first ATM next month

The Foreign Investment Promotion Board has cleared gold-loan company Muthoot Finance’s proposal to set up white-label ATMs in the country.

Muthoot, which had received the RBI nod for the plan in June, is expected to set up its first batch of ATMs next month in one of the southern States.

The company, which has also sought RBI’s permission to set up a bank, has plans to establish 9000 ATMs across the country in the next three years. The first 1000 would be set up in the next one year.

A company press note said 65 per cent of the ATMs would be located in semi-urban and rural areas in order to increase financial inclusion.

The white-label would be of different types: standalone, through-the-wall, drive-in, mini and moving ATMs. They would be placed at strategic locations such as shopping areas, bus-stands, cinema theatres and schools.

White-label ATMs will not sport the label of any bank and each transaction will be charged a small fee. An ATM costs Rs 5-6 lakh and the operating cost is upwards of Rs 10,000 a month.

Tata Communications Payment Solutions (TCPS), a wholly owned subsidiary of Tata Communications, is the first company to launched first white label ATM (WLA) at Chandrapada, a tier-V town near Mumbai.

It has been branded 'Indicash' by the company.

TCPS has got the license from Reserve Bank of India (RBI) to launch white label ATM operations last month under scheme ‘B’ of the central bank.

In scheme ‘B’ the WLA licensee has to setup a minimum of 5,000 ATMs per year for three years

In this scheme for every two ATMs installed in tier-III to tier-VI centers the company will be able to install one ATM in tier-I and tier-II centers.  

Odisha Gramya Bank to open 500 new branches

Odisha Gramya Bank plans to open 500 new branches in 13 districts of the state to extend banking facilities in rural areas.

This was stated by General Manager of the bank, M K Patra while inaugurating a loan recovery and credit linkage mela here yesterday.

Patra stressed the need for strong credit linkage to explore opportunities in goatery and poultry farming in Mayurbhanj district through women Self Help Groups (SHGs).

After Vibrant Gujarat, it is Vivah now, Kisan next week!

After Gujarat Chief Minister Narendra Modi launched the biennial Vibrant Gujarat Global Investors’ Summit in 2003, the very word “vibrant” has gone viral across the State and event organisers continue to tag their programmes with this word to cash in on its appeal .

On Friday, actor Karishma Kapoor inaugurated the three-day “Vibrant Vivah”, claimed to be India’s largest wedding festival, in Ahmedabad. State Tourism Secretary Vipul Mittra was the guest of honour on the occasion.

In Gujarat, such a large exhibition on the theme of weddings has been organised for the first time. Gems and jewellery, boutiques, wedding dress designers, contemporary fashion, tours and travels, wedding destinations, mehendi, tattoo and nail artists, wedding cards and gifts, spas and beauticians, hair artists and saloons are all there.

Vettel captures Italian Grand Prix pole

World champion Sebastian Vettel captured pole position on Saturday in a Red Bull one-two for the Italian Grand Prix.

Vettel posted a fastest lap of 1 minute 23.755 seconds at Monza for his fourth pole of the season on Sunday’s grid.

Teammate Mark Webber was 0.213 seconds behind, with Sauber’s Nico Huelkenberg a surprise third ahead of the Ferraris of Felipe Massa and Fernando Alonso and Mercedes driver Nico Rosberg.

India, UK form green energy

India and the UK have formed a green energy forum to enhance and acclerate activities in clean energy.

UK Minister for Department of Energy and Climate Change Baroness Verma said--
"The launch of Indo-UK Green Energy Forum would enhance and accelerate Indo-UK activities in clean energy.

It will help in introducing long-term and sustainable commercial collaboration in clean energy and especially with a reference to power and energy sector.