KYC norms for opening of bank accounts simplified by RBI
Making opening a bank account less cumbersome than earlier, the RBI has said that accounts can now be opened with just one address proof, permanent or local. This decision has been taken keeping in mind the banking needs of migrant workers and employees with transferable jobs who currently face cumbrous procedure to access banking services.
As per RBI:
- From now onwards, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic update.
- In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address may be submitted to the branch within a period of 6 months.
- In cases where customer is not able to submit local proof of address, the bank may accept a declaration of the local address on which all correspondence will be made by the bank with the customer. Customers are not required to submit any proof for such address for correspondence/local address. Bank may verify this address through positive confirmation such as acknowledgment of receipt of letter, cheque books, ATM cards, telephonic conversation.
- If the address for correspondence undergoes a change, the customer may inform about the new address to the bank within 2 weeks of such a change.
Making opening a bank account less cumbersome than earlier, the RBI has said that accounts can now be opened with just one address proof, permanent or local. This decision has been taken keeping in mind the banking needs of migrant workers and employees with transferable jobs who currently face cumbrous procedure to access banking services.
As per RBI:
- From now onwards, customers may submit only one documentary proof of address (either current or permanent) while opening a bank account or while undergoing periodic update.
- In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address may be submitted to the branch within a period of 6 months.
- In cases where customer is not able to submit local proof of address, the bank may accept a declaration of the local address on which all correspondence will be made by the bank with the customer. Customers are not required to submit any proof for such address for correspondence/local address. Bank may verify this address through positive confirmation such as acknowledgment of receipt of letter, cheque books, ATM cards, telephonic conversation.
- If the address for correspondence undergoes a change, the customer may inform about the new address to the bank within 2 weeks of such a change.
Trucks carrying PDS foodgrains to be tracked with GPS
In order to curb the menace of diversion of rations meant for lakhs of families which are below the poverty line, Delhi government has decided to track the trucks carrying food-grains with the help of Global Positioning System (GPS) and Radio-Frequency IDentification ( RFID). The Department of Food, Supplies and Consumer Affairs has started work for establishing a comprehensive web based, real time tracking system for effective implementation of the Public Distribution System.
The movement of vehicles will be continuously under vigilance to ensure that the ration commodities are properly and timely delivered to the Fair Price Shops (FPS) and are not diverted to the open market. It will be implemented by the Delhi State Civil Supplies Corporation (DSCSC) Limited which is responsible for supplying food-grains from the six Food Corporation of India (FCI) godowns in Delhi to about 2,500 FPS across the city.
In order to curb the menace of diversion of rations meant for lakhs of families which are below the poverty line, Delhi government has decided to track the trucks carrying food-grains with the help of Global Positioning System (GPS) and Radio-Frequency IDentification ( RFID). The Department of Food, Supplies and Consumer Affairs has started work for establishing a comprehensive web based, real time tracking system for effective implementation of the Public Distribution System.
The movement of vehicles will be continuously under vigilance to ensure that the ration commodities are properly and timely delivered to the Fair Price Shops (FPS) and are not diverted to the open market. It will be implemented by the Delhi State Civil Supplies Corporation (DSCSC) Limited which is responsible for supplying food-grains from the six Food Corporation of India (FCI) godowns in Delhi to about 2,500 FPS across the city.
Sikkim government reserves 12% jobs for BPL
As per an announcement made by the Sikkim government, there will be 12% reservation in all state government jobs and posts in public sector undertakings for candidates living Below Poverty Line (BPL). Only those BPL persons who are of Sikkimese origin will be eligible for this 12% “horizontal reservation”. As per the latest data released by the Planning Commission, Sikkim has just about 8% people living below poverty line which is equal to about 55,000 BPL people in the state.
As per an announcement made by the Sikkim government, there will be 12% reservation in all state government jobs and posts in public sector undertakings for candidates living Below Poverty Line (BPL). Only those BPL persons who are of Sikkimese origin will be eligible for this 12% “horizontal reservation”. As per the latest data released by the Planning Commission, Sikkim has just about 8% people living below poverty line which is equal to about 55,000 BPL people in the state.
Mudgal Panel: Sourav Ganguly joins Mudgal Panel probing IPL spot-fixing & betting scandal
Sourav Ganguly, former India cricket team skipper, has been inducted into theSupreme Court appointed Mudgal Panel that has been set up to investigate the IPL spot-fixing and betting scandal including probing the 13 names that are mentioned in the sealed envelope that it had submitted to the court in February 2013.
The apex court had asked the panel to select a cricketer of ‘impeccable integrity’ after which names of Ganguly was under consideration.
Sourav Ganguly, former India cricket team skipper, has been inducted into theSupreme Court appointed Mudgal Panel that has been set up to investigate the IPL spot-fixing and betting scandal including probing the 13 names that are mentioned in the sealed envelope that it had submitted to the court in February 2013.
The apex court had asked the panel to select a cricketer of ‘impeccable integrity’ after which names of Ganguly was under consideration.
Petro Poroshenko takes oath as Ukraine President
Petro Poroshenko, billionare owner of the Roshen chocolates group, who is also popular as Chocolate King, sworn in as the Ukraine President. Poroshenko offered political concessions to people in the conflict-ridden east and said he did not want war or revenge. Mr Poroshenko made an ardent appeal for the unity of the country.
He held that he has told Russian President that Crimea, which Moscow has annexed, would “always be Ukrainian”.Mr. Poroshenko has assumed power at a time when Crimea which was part of Ukraine until now, has now been annexed byRussia.
Petro Poroshenko, billionare owner of the Roshen chocolates group, who is also popular as Chocolate King, sworn in as the Ukraine President. Poroshenko offered political concessions to people in the conflict-ridden east and said he did not want war or revenge. Mr Poroshenko made an ardent appeal for the unity of the country.
He held that he has told Russian President that Crimea, which Moscow has annexed, would “always be Ukrainian”.Mr. Poroshenko has assumed power at a time when Crimea which was part of Ukraine until now, has now been annexed byRussia.
P.K Mishra is PM’s Additional Principal Secretary
P K Mishra (65), a 1972-batch retired IAS officer of Gujarat cadre and formerAgriculture Secretary, has been appointed as the Additional Principal Secretary to Prime Minister Narendra Modi. Mr. Mishra had served between 2001 and 2004 as Principal Secretary to Modi when he was Gujarat CM. Mishra’s appointment will be co-terminus with the term of the Prime Minister or till further orders.
Former TRAI Chairman Nripendra Misra, 69, was on May 28, 2014 appointed Principal Secretary to Modi.
P K Mishra (65), a 1972-batch retired IAS officer of Gujarat cadre and formerAgriculture Secretary, has been appointed as the Additional Principal Secretary to Prime Minister Narendra Modi. Mr. Mishra had served between 2001 and 2004 as Principal Secretary to Modi when he was Gujarat CM. Mishra’s appointment will be co-terminus with the term of the Prime Minister or till further orders.
Former TRAI Chairman Nripendra Misra, 69, was on May 28, 2014 appointed Principal Secretary to Modi.
Uttarakhand Cabinet gives nod to Pension Scheme for Farmers
The Uttarakhand Government has given nod to two popular schemes including a pension scheme for farmers and a scheme to air-lift doctors to remote areas of the state.
Pension Scheme for Farmers: Under this scheme for farmers, all those farmers doing farming on 2 hectare piece of land will get a monthly pension of Rs 800.
Air-lift of Doctors Scheme: Under this scheme, doctors and pharmacists along with medicines will be air-lifted to remote villages, where they will attend to patients for a month and then will be replaced by another group of doctors.
Kudankulam is India’s first nuke plant to produce 1,000 MW of power
Kudankulam Nuclear Power Plant (KNPP) achieved its full power generation potential and thus became India’s first nuclear power plant to generate 1,000 Mega Watt (MW) of electricity. Other nuclear plants in India generally generate only around 540 MW of power while in the case of thermal plants it could increase up to 660 or 680 MW. Thus, in terms of capacity, Kudankulam Unit I is a significant achievement.
Kudankulam Nuclear Power Plant (KNPP)
KNPP is a nuclear power plant in Koodankulam in the Tirunelveli district of Tamil Nadu in India. The plant’s first reactor is the first Pressurised Water Reactor (PWR) belonging to the Light Water Reactor (LWR) category in India, and the 21st nuclear power reactor in the country. It is considered as “the harbinger of thelarge-size LWR technology in India“. The plant faced several impediments during its construction phase from March 31, 2002 to 2013 which delayed it.
- Delayed: The project was delayed mainly due to the 500-day long anti-nuclear protests by the locals, led by the People’s Movement Against Nuclear Energy (PMANE). The first reactor of the plant attained criticality on July 13, 2013.
- Duration: Around 6 years after the scheduled date, and 12 years after the construction of the plant started, the plant was commissioned when unit 1 was synchronized with the southern power grid on October 22, 2013.
Cost: The original cost of the two units was Rs. 13,171 crore, but it was later revised to Rs. 17,270 crore. A credit of Rs. 6,416 crore was advanced by Russiato both the units- I and II of Kudankulam.
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