Task Force for FRA by FSLRC

Government Sets-up Task Force for Laying the Road Map for Setting-up of Financial Redress Agency (FRA) as Recommended by the Financial Sector Legislative Reforms Commission (FSLRC)

The Government sets-up a Task Force to lay the roadmap for setting-up of Financial Redress Agency (FRA) as recommended by the Financial Sector Legislative Reforms Commission (FSLRC). The Constitution of the Task Force has been put in public domain on the website of the Ministry of Finance (www.finmin@nic.in).

The Financial Sector Legislative Reforms Commission (FSLRC) set-up in March 2011, for re-writing the financial sector laws to bring them in harmony with the current requirements, submitted its Report to the Government on March 22, 2013. The Commission inter alia has recommended a non-sectoral, principle-based legislative architecture for the financial sector by restructuring/upgrading existing regulatory agencies and creating new agencies wherever needed for better governance and accountability.


Government of India-Floating Rate Bonds (FRB) Issued on 2nd July 2004 are due for Repayment on 2nd July 2015

The outstanding balance of the Government of India-floating Rate Bonds is repayable at par on July 02, 2015. No interest will accrue there on from the said dates. In the event of a holiday being declared on July 02, 2015 by any State Government under the Negotiable Instruments Act, 1881, the loan/s will be repaid by the paying offices in that State on the previous working day.

As per sub-regulations 24 (2) and 24(3) of Government Securities Regulations, 2007 payment of maturity proceeds to the registered holder of Government Bonds/Securities held in the form of Subsidiary General Ledger or Constituent Subsidiary General Ledger account or Stock Certificate shall be made by pay order incorporating the relevant particulars of his bank account or by credit to the account of the holder in any bank having facility of receipt of funds through electronic means. For the purpose of making payment in respect of the securities, the original subscriber or the subsequent holders of such Government Bonds/Securities, shall submit the relevant particulars of their bank account well in advance.

However, in the absence of relevant particulars of bank account / mandate for receipt of funds through electronic means, to facilitate repayment of the Loan on the due date, holders may tender the securities, duly discharged, at the Public Debt Offices, Treasuries / Sub-Treasuries and branches of State Bank of India and its Associate Banks (at which they are enfaced / registered for payment of interest) 20 days in advance of the due date for repayment.

Full details of the procedure for receiving the discharge value may be obtained from any of the aforesaid paying offices.

KV Shaala Darpan will write a New Definition of E-Governance, Good Governance and Digital India, says Union Human Resource Development Minister

The Union Human Resource Development Minister Smt. Smriti Irani while launching KV Shaala Darpan programme of Kendriya Vidyalaya Sangathan in New Delhi today said that the programme will write a new definition of e-governance, good governance, and digital India.

Elaborating upon the details the Minister said that this programme will be a step forward in the direction of fulfilling the vision of digital India of our Prime Minister Shri Narendra Modi. She further said that with the launch of KV Shaala Darpan, parents will get entire information at a unified platform about their children in respect of the attendance status, performance, health challenges and entire academic record from Ist to XIIth standard. Students will have facilities of e-tutorials and learning aids to enrich their knowledge. She made an appeal to the parents not to put unnecessary pressure on the children while availing the facility of getting instant information under this system.

Earlier Minister of State for Human Resource Development, Shri Upendra Kushwaha said that KV Shaala Darpan programme will work in the direction of bringing transparency in administration and governance. This programme will ensure saving of money, time and paper. He further appealed to parents to devote maximum time to their children in the interest of their complete development.

A documentary film was also shown on the occasion with focus on the KV Shaala Darpan project and how it will enhance school’s overall academic delivery systems and serve as a platform to deliver service to students, parents, teachers, alumni and the school management. The project will link all 1100 Kendriya Vidyalayas.

The senior officers of Ministry of HRD as well as Kendriya Vidyalaya Sangathan were also present on the occasion.

KVIC Launches Green Stationery Exhibition on World Environment Day

The Khadi Gramodyog Bhavan, KVIC under the Ministry of Micro, Small and Medium Enterprises launched an Exhibition showcasing Green stationery items of handmade paper here today.

Speaking on the occasion Shri K.S. Rao, Dy. C.E.O, KVIC informed the media that Handmade Paper is the traditional way of producing paper by using cotton rags and Agro and is totally wood free and eco-friendly. Uses of handmade paper save trees and forests and thus conserves the eco wealth.

On the occasion, , Shri Rajesh Malik, Special Police Commissioner, Delhi Police, Delhi Police announced that Delhi Police will be procuring Handmade paper file cover and stationary from Khadi Gramodyog Bhavan, New Delhi. The Bank officials present during the event have also assured that henceforth Banks will also support K.G. Bhavan and procure KVI Products Specially handmade paper stationary.

The exhibits at the Green Stationery exhibition includes carry bags, writing pad, Note book, Gift Envelop, Photo frame, Gift packs, etc. The exhibition will also give an opportunity to the manufacturers to get vast exposure of market specially marketing of green stationary and will acquaint the people about the use of handmade paper which has very positive impact on environment.

The Exhibition will remain open from 5th June 2015 to 10th June 2015 and timing are from 10.00 AM to 8.30 PM.

Railways not to spend a penny more on energy this year despite carrying more passengers and freight: Suresh Prabhu

Railways Minister addresses seminar on World Envrionment Day

The Minister of Railways Shri Suresh Prabhakar Prabhu has said that the Indian Railways have taken several steps in the last six months towards Energy Conservation and Environment Protection. Addressing a Seminar here today on “Environmental challenges before Indian Railways”, Shri Prabhu said that the Railways will not spend a penny more on the energy bill of Rs.30,000 crores incurred last financial year despite increasing freight and passenger traffic.

The Railway Minister said that he has asked all Zonal Railways to conduct energy audit and water audit in efforts to minimize the environmental impact .Shri Prabhu said that the Indian Railways is the third largest consumer of water behind Agriculture and Power sectors. The Minister said that the social impact being an integral component of the Environmental Impact Assessment (EIA), thus needs to be given due attention before undertaking any Railway project.

Shri Prabhu said that as part of the afforestation campaign, the Ministry of Railways has worked out an Action Plan in collaboration with the Ministry of Environment and Forests (MoEF) to grow indigenous species of plants like jatropa on Railway lands with an aim to increase the Green Cover and addressing environmental problems like soil erosion besides creating additional employment opportunities. Shri Prabhu said that their aim is to reduce the Carbon footprint of the Indian Railways by promoting Alternative and Renewable Energy sources in a big way. He said that the Railways have set a target of generating 1,000MW of Solar Energy and 200 MW of Wind Energy to substitute part of its own energy needs in the next five years.

The Chairman Railway Board Shri A.K Mital said that 80% of the Railways energy bill is on account of pulling trains and introduction of new technologies like dynamic braking and three phased locomotives can result in consumption of 30 percent less energy. He said that the Railways is also promoting biodiesel fuel and wide use of LED lighting at Railway Stations and railway coaches.

Shri Hemant Kumar, Member (Mechanical), Railway Board, said that 17,000 coaches have been retro-fitted with biodegradable toilets and that another 17,000 coaches will be added, either new coaches or retro-fitting, in the coming year.

General Manager, Northern Railways, Shri A.K. Puthia said that the use of biodiesel and CNG has already started on the Rewari-Rohtak DEMU. He said that use of e-tickets and adoption of e-office will result in big savings on paper consumption.

On the occasion, the Railway Minister launched an ebook on “Indian Railways – Marching towards better environment” and received a Report of the Council on Energy, Environment and Water (CEEW) on “Solar Energy Potential of Indian Railways” from Dr. Arunabha Ghosh, CEO, CEEW.

Dr Harsh Vardhan Calls For “Responsible Consumerism” Csir-Neeri’s Mobile Air Pollution Monitoring Van To Be Deployed Nationwide

The Union Minister for Science & Technology and Ministry of Earth Sciences Dr Harsh Vardhan, has called for a culture of responsible consumerism on the occasion of World Environment Day today.

Speaking to newsmen after attending a series of events at the National Environmental Engineering Research Institute (CSIR-NEERI: a wing of the Council of Scientific and Industrial Research) in Nagpur today, the Minister said that air pollution in India’s metropolitan cities is recognized as a major threat to the future generations. Keeping in mind the need for effective monitoring and corrective measures, he asked CSIR-NEERI to deploy its mobile units on a nationwide scale over the next year.


Revamped website of Handloom Export Promotion Council launched

Shri Alok Kumar IAS, Development Commissioner for Handlooms, O/o Development Commissioner for Handlooms, Ministry of Textiles, Government of India launched the revamped website of Handloom Export Promotion Council, www.hepcindia.com, on 3rd June, 2015, at Udyog Bhawan, New Delhi.


Task Force for FRA by FSLRC Task Force for FRA by FSLRC Reviewed by Ajit Kumar on 4:53 PM Rating: 5

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