Studying Abroad in Germany, Free Study in Germany, Universities & Colleges in Germany

Tuesday, October 29, 2013

Supply onion, tomato through PDS: CPI

The Hindu CPI activists staging a protest against onion and tomato price hike, in Visakhapatnam on Monday. Photo: A. Manikanta Kumar CPI city unit on Monday staged a dharna at the MRO office at Sitammadhara demanding that the price of onion and tomato in the open market be contained.

Accusing the government of failure in controlling prices, city secretary J. V. Prabhakar said that in the open market prices ranged from Rs.60 to Rs.80 a kg.

Demand

He demanded that in view of the festival ahead onion and tomato be sold at Rs.20 a kg through public distribution system.

He also demanded that the families hit by the recent cyclone and rain be provided 25 kg of rice and dal, and it should be extended to construction and fish workers. Party city assistant secretary M. Paidiraju and A. P. Mahila Samakhya district secretary A. Vimala participated.

View the original article here

300 kg. ganja seized, 3 arrested

300 kg. ganja seized, 3 arrested - The Hindu var _comscore = _comscore || [];_comscore.push({ c1: "2", c2: "11398210" });(function() {var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; s.async = true;s.src = (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js";el.parentNode.insertBefore(s, el);})(); Follow Today's Paper Archive Subscriptions RSS Feeds Site Map ePaperMobileApps Social SEARCH

Home News Opinion Business Sport S & T Features Books In-depth Jobs Classifieds Shopping Bus tickets Cities Bangalore Chennai Coimbatore Delhi Hyderabad Kochi Kozhikode Madurai Mangalore Visakhapatnam Thiruvananthapuram Tiruchirapalli Vijayawada Cities» VisakhapatnamVISAKHAPATNAM, October 29, 2013 Updated: October 29, 2013 14:01 IST
300 kg. ganja seized, 3 arrestedSpecial CorrespondentShare · Comment · print · TweetTOPICS Andhra Pradesh Visakhapatnam
crime, law and justice crime
police arrest
Around 300 kg. of dry ganja, valued at Rs.35 lakh, was seized and three accused were arrested by the Prohibition and Excise sleuths at Paderu in the district on Monday.

The three men were transporting the ganja from Maddigaruvu of G. Madugula via Paderu in a van when the vehicle was intercepted by the Excise police at Mettabangla village of Paderu mandal. The accused, M. Venkata Rao, M. Naidu of the city and M. Venkata Rao of Pedabayalu, were arrested while a fourth accused managed to escape. They procured the ganja from various parts of G. Madugula mandal to send it to Tamil Nadu. On a tip-off, Excise Inspector L. Upendra and his team conducted a raid and arrested the accused persons under the Narcotic Drugs and Psychotropic Substances (NDPS) Act.

Keywords: Prohibition and Excise, ganja seizure, NDPS Act, Narcotic Drugs

RELATED NEWS Ganja worth Rs.1.27 crore seized in Visakhapatnam districtJuly 19, 2013 Ganja worth Rs.50 lakh seized in a Visakhapatnam districtJune 3, 2013 Over 1,000 kg ganja seizedDecember 28, 2012 Ganja worth 3 lakh seized, driver heldDecember 26, 2012 More In: Visakhapatnam Tweet CommentsRecommendedPost a comment Be the first one to post a comment$(document).ready(function() {comshow("pc");});                                     Your Name:

email:

Make a comment
characters left



1. Comments will be moderated
2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
3. Please write complete sentences. Do not type comments in all capital letters,
or in all lower case letters, or using abbreviated text.
(example: u cannot substitute for you, d is not 'the', n is not 'and').
4. We may remove hyperlinks within comments.
5. Please use a genuine email ID and provide your name, to avoid rejection.

Most PopularMost CommentedNaidu lashes out at Sonia Trains cancelled, rescheduled Breach to Yeleru canal halts traffic on National Highway Rain hits production in Vizag steel plant Residents caught off guard by floodwater Giraffes to enthral visitors to the zoo Rain effect: some trains cancelled Now, transfer your EPF accounts online Expert lists tips to avoid gastric problems Several trains cancelled in Vizag on Tuesday

Today's Paper ePaperThis Day That AgeCrosswordArchiveObituaryGroup SitesThe Hindu?? ?????Business Line SportstarFrontlineThe Hindu CentreImagesClassifieds

O
P
E
N

View the original article here

Retail inflation to remain above 9 per cent, cautions RBI

The Hindu A file picture of retail market in Old Delhi. Photo: Shiv Kumar Pushpakar. The common man is unlikely to get relief from rising prices in the months ahead, with the RBI on Tuesday saying retail inflation will remain above 9 per cent during the course of this financial year.

Retail inflation measured by the consumer price index (CPI) has risen sharply across food and non-food constituents, including services, keeping inflation expectations high, the Reserve Bank of India said in its Second Quarter Review of Monetary Policy 2013-14.

“Notwithstanding the expected edging down of food inflation, retail inflation is likely to remain around or even above 9 per cent in the months ahead, absent policy action,” the central bank said.

RBI Governor Raghuram Rajan pitched for an appropriate policy response to tame wholesale as well as retail inflation.

“Overall WPI inflation is expected to remain higher than current levels through most of the remaining part of the year warranting an appropriate policy response,” Dr Rajan said in the monetary policy review.

Inflation as measured by the wholesale price index (WPI) accelerated in September for the fourth month in a row to 6.46 per cent. Retail inflation rose marginally to 9.84 per cent in September, mainly due to a hike in food prices, particularly of vegetables.

The RBI said food price pressures may ease with the arrival of the kharif harvest and seasonal moderation. Food inflation in the WPI basket stood at 18.40 per cent in September.

The RBI on Tuesday hiked the lending (repo) rate by 0.25 per cent to 7.75 per cent, saying it was important to break the spiral of rising price pressures in order to curb the erosion of financial saving and strengthen the foundations of growth.

The policy stance, the central bank said, “is intended to curb mounting inflationary pressures and manage inflation expectations in a situation of weak growth.”

The RBI said it plans to introduce inflation-indexed National Saving Securities for retail investors in November or December in consultation with the government.

View the original article here

Now, transfer your EPF accounts online

Now, transfer your EPF accounts online - The Hindu var _comscore = _comscore || [];_comscore.push({ c1: "2", c2: "11398210" });(function() {var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; s.async = true;s.src = (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js";el.parentNode.insertBefore(s, el);})(); Follow Today's Paper Archive Subscriptions RSS Feeds Site Map ePaperMobileApps Social SEARCH

Home News Opinion Business Sport S & T Features Books In-depth Jobs Classifieds Shopping Bus tickets Cities Bangalore Chennai Coimbatore Delhi Hyderabad Kochi Kozhikode Madurai Mangalore Visakhapatnam Thiruvananthapuram Tiruchirapalli Vijayawada Cities» VisakhapatnamVISAKHAPATNAM, October 29, 2013 Updated: October 29, 2013 13:56 IST
Now, transfer your EPF accounts onlineNivedita GangulyShare · Comment · print · TweetTOPICS Andhra Pradesh Visakhapatnam
labour employee
Worried about transferring your Employee Provident Fund (EPF) account after a job change? Here’s some good news. For scores of employed professionals, the implementation of online transfer of EPF accounts has come as a relief. What used to be a laborious process is now expected to be reduced to a few days time.

“Earlier, it used to take one to two years for the EPF account transfer to take place. But with the start of the online transfer system, we are aiming to speed up the entire process and ensure that it happens within three days time,” said M. Jagadeeshwar Rao, Member of Central Board of Trustee, Employee Provident Fund Organisation (EPFO).

There are over 14 lakh EPF accounts that come under the purview of the Visakhapatnam Provident Fund Office, which caters to Srikakulam, Vizianagaram and Visakhapatnam districts.

Previously, the manual process of transferring the EPF account involved filling up of Form 13, getting it attested from the previous employer and submitting it to the Provident Fund Office. From thereon, the process would take a long time.

In the online transfer system, PF subscribers need to visit the website www.epfindia.com and click on ‘Online Transfer Claim Portal’ (OTCP) and follow the process. With this the money can get transferred from one account to another online. However, for online transfer of EPF account from a previous employer to the current employer, it is important that the digital signatures of these employers are registered with EPFO to verify claim papers online. The EPFO had started registering digital signatures of companies from July this year.

“With the introduction of OTCP, the EPF authorities are in the loop as soon as an EPF account transfer is initiated. In the earlier process, the employer would take a lot of time in submitting the Form 13 to EPF authorities, but EPFO did not have the scope of figuring out the delay in submission. But now, the process is faster,” said Mr Rao.

Currently, the online process is being upgraded in all the PF offices across the country. “There are some technical issues at some places, which will be fixed within the next two months,” Mr Rao added.

Keywords: Employee Provident Fund, EPF account, EPFO, PF subscribers, online transfer system

More In: Visakhapatnam Tweet CommentsRecommendedPost a comment Be the first one to post a comment$(document).ready(function() {comshow("pc");});                                     Your Name:

email:

Make a comment
characters left



1. Comments will be moderated
2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
3. Please write complete sentences. Do not type comments in all capital letters,
or in all lower case letters, or using abbreviated text.
(example: u cannot substitute for you, d is not 'the', n is not 'and').
4. We may remove hyperlinks within comments.
5. Please use a genuine email ID and provide your name, to avoid rejection.

Today's Paper ePaperThis Day That AgeCrosswordArchiveObituaryGroup SitesThe Hindu?? ?????Business Line SportstarFrontlineThe Hindu CentreImagesClassifieds

O
P
E
N

View the original article here

RBI closes special window for Mutual Funds

RBI closes special window for Mutual Funds - The Hindu var _comscore = _comscore || [];_comscore.push({ c1: "2", c2: "11398210" });(function() {var s = document.createElement("script"), el = document.getElementsByTagName("script")[0]; s.async = true;s.src = (document.location.protocol == "https:" ? "https://sb" : "http://b") + ".scorecardresearch.com/beacon.js";el.parentNode.insertBefore(s, el);})(); Follow Today's Paper Archive Subscriptions RSS Feeds Site Map ePaperMobileApps Social SEARCH

Home News Opinion Business Sport S & T Features Books In-depth Jobs Classifieds Shopping Bus tickets Industry Economy Markets Stock Quotes Business» EconomyMumbai,October 29, 2013 Updated: October 29, 2013 15:23 IST
RBI closes special window for Mutual FundsPTIShare · Comment · print · TweetTOPICS macro economics mutual funds
With the improvement in liquidity conditions, the Reserve Bank on Tuesday decided to close the special window for commercial banks to meet the cash requirements of mutual funds (MFs) with immediate effect.

The RBI, in July, had opened a special borrowing window of Rs 25,000 crore to help the crisis-ridden mutual funds tide over liquidity problems.

“With the normalisation of exceptional measures and taking into consideration the improvement in liquidity conditions since then, it has been decided to close this window with immediate effect,” RBI Governor Raghuram Rajan said in the second quarter monetary policy review.

The RBI, on July 17, had opened a special three-day repo auction under which banks would be encouraged to raise funds totalling Rs 25,000 crore at 10.25 per cent for on lending to mutual funds.

The last time RBI had opened such a facility was in 2008, after the collapse of Lehman Brothers triggered a chain reaction and caused a global financial crisis that sent fixed income markets in a tizzy.

At the end of September quarter, Assets Under Management (AUM) of the mutual fund industry fell by 4.5 per cent to Rs 8.08 lakh crore from Rs 8.46 lakh crore in the previous three-month period.

Keywords: Mutual Fund transaction, RBI

RELATED NEWS RBI hikes repo rate by 0.25 percentOctober 29, 2013 More In: Economy | Business Tweet CommentsRecommendedPost a comment Be the first one to post a comment$(document).ready(function() {comshow("pc");});                                     Your Name:

email:

Make a comment
characters left



1. Comments will be moderated
2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
3. Please write complete sentences. Do not type comments in all capital letters,
or in all lower case letters, or using abbreviated text.
(example: u cannot substitute for you, d is not 'the', n is not 'and').
4. We may remove hyperlinks within comments.
5. Please use a genuine email ID and provide your name, to avoid rejection.

Most Popular Walk alone but don’t dance alone: Chidambaram to Subbarao Stubborn inflation leaves no room for RBI to cut rates Oct 31 deadline for e-filing audit reports of tax returns Cost inflation index for 2013-14 raised by 10% Make diesel prices market driven: Parikh panel Slideshow Bureaucrat-turned-banker Duvvuri Subbarao demits office on September 5, 2013 after a 5-year stint as the 22nd Governor of the Reserve Bank of India. Photo: PTI

Bureaucrat-turned-banker Duvvuri Subbarao demits office on September 5, 2013 after a 5-year stint as the 22nd Governor of the Reserve Bank of India. Photo: PTI

Duvvuri Subbarao: From Great Depression to Great ExitFrom the global economical meltdown in 2008 to the rupee tumbling down to a historic low in 2013, not many Governors of the Reserve Bank of India have seen it all like Duvvuri Subbarao who demits office on Thursday. Text: PTI, Compiled by Preethi Ramamoorthy more slideshows»Most PopularMost CommentedRBI hikes repo rate by 0.25 percent RBI hints at hike in interest rate to check price rise Wholesale vegetable prices in Sept. surge by 89 pc: ASSOCHAM RBI surveyors lower GDP forecast to 4.8% Rangarajan differs with RBI on inflation projection Wholesale inflation above comfort level, says RBI RBI closes special window for Mutual Funds Adopt districts, SEBI tells MFs Retail inflation to remain above 9 per cent, cautions RBI 36.05 % duty on import of high-end TV sets RBI surveyors lower GDP forecast to 4.8%(1) RBI hints at hike in interest rate to check price rise

Today's Paper ePaperThis Day That AgeCrosswordArchiveObituaryGroup SitesThe Hindu?? ?????Business Line SportstarFrontlineThe Hindu CentreImagesClassifieds

O
P
E
N

closeRecent Article in Economy A file picture of retail market in Old Delhi. Photo: Shiv Kumar Pushpakar.

View the original article here

Rangarajan differs with RBI on inflation projection

The Hindu A file picture of Dr C. Rangarajan, Chairmanof PMEAC and former Governor of RBI. Photo: G. P. Sampath Kumar. Disagreeing with Reserve Bank’s projection on the price situation, former RBI Governor and PM’s Economic Advisory Council chairman C Rangarajan said WPI and CPI may not be as high as being projected by the central bank.

“Well I think the inflation rate may not be as high as (RBI) report seems to suggest. I would really think as far as WPI is concerned, it will be around 5.5 to 6 per cent. I don’t think that it will exceed 6 per cent...I expect the WPI as well as CPI to remain at slightly lower level than indicated,” Dr Rangarajan said.

Reserve Bank of India in its second quarter review of monetary policy, has said that “overall WPI (Wholesale Price Index) inflation is expected to remain higher than current levels through most of the remaining part of the year.”

Besides the central bank in its review unveiled today said that retail inflation measured by the consumer price index (CPI)...is likely to remain around or even above 9 per cent in the months ahead.

According to Dr Rangarajan, the whole (monetary) policy has focused on price stability and that is the right approach.

“I think.. as the Central Bank of the country, price stability is its dominate objective. Therefore the way to interpret the policy would be that it will depend very much on the behaviour of the inflation,” he said.

About chances of further rate hikes RBI, he said, “..if the situation (inflation) picks up from the current level then perhaps RBI is consistent with what it said in the policy review, it has to raise it (interest rate). But I will not at this particular point, make any guess. We would like to watch inflation behaviour all the next 6 weeks.”

Dr Rangarajan said he thinks there are prospects of inflation moderating in the next month or so because of better monsoon and the (other) impact on the food inflation.

About the lowering economic growth projection for this fiscal from 5.5 per cent to 5 per cent by RBI, he said, “We had estimated the growth rate to be at 5.3 per cent for the year. I don’t see any reason to alter that (projection) at present point.”

“Various reasons in the policy suggest that growth will pick up in second half of this fiscal. Some people think that agriculture growth will be in excess of 5 per cent. Taking all these factors into account, it can be higher than 5 per cent,” he added.

View the original article here