Maharashtra Bank News

Why actors Riteish Deshmukh and Genelia’s firm is facing probe
The Indian Express | 22 hours ago | |
The Indian Express
22 hours ago | |

Maharashtra minister Atul Save on Wednesday (November 30) said a probe has been ordered after alleged irregularities were found in how an agro-processing company, owned by actors Riteish Deshmukh and his wife actor Genelia Deshmukh, availed land and loans.What is the controversy about? We explain.In October this year, the BJP claimed it obtained information about land allocation under the Right to Information (RTI), which showed that the Deshmukhs were accorded special favours by the state government.At the centre of the controversy is the plot for an agro-processing unit in the Maharashtra Industrial Development Corporation (MIDC) area in the town of Latur.The MIDC is an investment promotion agency of the Maharashtra government. It set up industrial areas in the state and has procedures for bidding on plots in the state that it makes available to entrepreneurs.It allotted the land to a company called Desh Agro Pvt Ltd, in which Riteish and Genelia Deshmukh are partners with equal shares, allegedly at a concessional rate of Rs 605 per square metre within three weeks of its formation. The application for land was processed within 10 days.The company, with a share capital of Rs 7.50 crore, was set up for processing soybean.According to the ruling BJP, the company also applied for a loan on October 4, 2021, with the Pandharpur Urban Cooperative Bank and the bank approved it on October 27. It then applied for a loan with the Latur District Central Cooperative Bank and a loan of Rs 61 crore was approved on October 27. It took a loan of another Rs 55 crore from the bank on July 25, 2022.Desh Agro Pvt Ltd has denied the allegations as “baseless and factually wrong”.BJP leaders in Latur claim that the land allotment was out of turn, during the previous Maha Vikas Aghadi (MVA) government of which the Congress was a member.Riteish Deshmukh is the son of former Maharashtra chief minister and Congress leader late Vilasrao Deshmukh. His elder brother Amit was a minister in the MVA government and his younger brother Dhiraj is an MLA from the Latur rural constituency.“Our (BJP’s) Latur district president (Gurunath) Mage had written a letter (raising the issue). I don’t know anything about the MIDC, but I have ordered an inquiry to check if there was any irregularity on the part of the banks,” Save, the state Cooperative Minister, told PTI.

Why actors Riteish Deshmukh and Genelia’s firm is facing probe
GDCA result 2022 announced on gdca.maharashtra.gov.in, download here
Times of India | 1 day ago | |
Times of India
1 day ago | |

NEW DELHI: Co-operative Commissioner and Registrar, Co-operative Societies, Maharashtra has released the Govt Diploma in Co-operation and Accountancy (GDC&A) result on the official website. Candidates who appeared in the exam can check and download their GDCA Course Result on the official website - https://gdca.maharashtra.gov.in/ - through candidate login. The result of the GDC&A and CHM exam 2022 has been declared and the result can be checked using your login and password. The result has been released in PDF format. The results for two Madhol GDC&A Mandal will be available for viewing on the website https://sahakarayukta.maharashtra.gov.in from today i.e., December 1, 2022. For re-marking, examinees can apply using login and password. Candidates can apply for rechecking and submit the application fees online through bank challan till 10:30 PM on December 31, 2022. Through online banking, the payment can be made by January 3, 2023 (bank working hours). Applications received after the prescribed date will not be considered by the Society. Direct link to download CDCA Result 2022How to Download GDCA Result 2022?Step 1: Visit the official GDCA website - gdca.maharashtra.gov.in Step 2: You can see the login window on the homepage itself Step 3: Enter your user login - Username and Password then click on the Login button Step 4: Now click on the 'Download GDCA Marks 2022' Step 5: Your result will appear on the screen. Check and download it and take a printout for future use.

GDCA result 2022 announced on gdca.maharashtra.gov.in, download here
Supervision of Mumbai Metro Lines 2A and 7 by Commission of Metro Rail Safety underway
The Indian Express | 2 days ago | |
The Indian Express
2 days ago | |

The Commission of Metro Rail Safety (CMRS) has begun the supervision process of phase 2 of Mumbai Metro Line 2A (Dahisar to DN Nagar, Andheri West) and Line 7 (Dahisar East to Andheri East), both elevated corridors passing from Link road and Western Express Highway (WEH).Mumbai Metropolitan Region Development Authority (MMRDA) Commissioner S V R Srinivas said, “A team from CMRS is carrying out the supervision. Once the safety clearance certificate is in place the commercial operations can begin.”The official confirmed that all these processes are likely to be completed by December-end and the entire Metro Line 2A&7 will be opened to the public in January.The MMRDA is the nodal agency appointed by the state of Maharashtra for all elevated metro projects.The CMRS certification includes supervision of the tracks, signalling, electrical systems, and civil works before opening the corridor for passengers. A safety check is done meticulously by the competent authority.Prior to the CMRS supervision, the MMRDA had obtained a provisional certificate from Research Designs and Standards Organisation (RDSO) for conducting a trial run.Mumbai Metro Line 2A connects Dahisar to DN Nagar, while Line 7 links Dahisar East to Andheri East, comprising a total length of 35 km. In the first phase, a 20-km stretch between Aarey and Dhanukarwadi was opened to the public in April, during Gudi Padwa, which marks New Year as per Hindu calendar. The 20-km stretch is drawing a good average daily ridership of 27,000, whereas the monthly average ridership is 8 lakh, as per the MMRDA data. Once both lines (comprising 30 stations) become operational, it will together see a daily ridership of 12.77 lakh by 2031, officials said.The Metro Line 2A has 17 stations — Andheri (West), Lower Oshiwara, Oshiwara, Goregaon (West), Pahadi Goregaon, Lower Malad, Malad (West), Valnai, Dahanukarwadi, Kandivali (West), Pahadi Eksar, Borivali (West), Eksar, Mandapeshwar, Kandarpada, Upper Dahisar and Dahisar (East). Metro Line 7 has 13 stations — Gundavali, Mogra, Jogeshwari (East), Goregaon (East), Aarey, Dindoshi, Kurar, Akurli, Poisar, Magathane, Devipada, RashtriyaUdyan and Ovaripada.Both Metro lines have a common station at Dahisar, where it integrates. While for other Metro lines, the integration stations are WEH on Line 7 with the existing Metro one and JVLR junction for Metro Line 6. Similarly on Line 2A, the integration station for Metro Line one is at DN Nagar station.Both are elevated corridors passing along Mumbai’s Link Road and Western Express Highway.The expense of the Metro Line 2A project is Rs 6,410 crore while that of the Line 7 project is Rs 6,208 crore. The funding agencies for both the lines are Asian Development Bank and National Development Bank.Currently, a train set having six coaches of a capacity of 380 persons each is run on Metro Line 2A and 7 on the 20-km stretch. With a total of 28 rakes made available by Bharat Earth Movers Ltd, the services on both the lines will be fully operated in a gap of seven minutes. Both the corridors have their car shed at Charkop.

Supervision of Mumbai Metro Lines 2A and 7 by Commission of Metro Rail Safety underway
Bank robbery bid: ‘Killer’ who fled from Vasai court held in 48 hours
Times of India | 4 days ago | |
Times of India
4 days ago | |

THANE: Following a 48-hour search operation, the crime branch unit-3 of Mira-Bhayander Vasai-Virar (MBVV) police nabbed the undertrial accused of murdering a banker during a robbery bid who had escaped from Vasai court premises along with his bike-borne aide on Friday, officials informed on Sunday. In July 2021, Anil Dubey (36), a former private bank manager, was arrested for allegedly killing his former colleague and injuring another while trying to flee with gold ornaments worth nearly Rs 3.4 crore from the locker at the bank's Virar branch. On Friday afternoon, when Dubey was brought from Thane Central jail to Vasai court, he allegedly requested the escorting policemen to allow him to visit the washroom and managed to give them the slip and escape on a motorcycle driven by his aide Chand Badshah Aziz Khan (42), a historysheeter from Nalasopara. "We have arrested Dubey and Khan from Nalasopara after our teams narrowed down on them following technical leads. We also recovered the bike," confirmed Shrikant Pathak, additional police commissioner, MBVV police. Avinash Ambure, deputy police commissioner, crime, MBVV police, said, "Our teams were tipped off that the absconding undertrial could be holed up in Nalasopara following which crime branch unit-3 formed teams and started search operations." Police are likely to have zeroed in on the accused based on technical surveillance, including CCTV footage, of the area. Police in the Vasai-Virar area were on alert and also undertook late-night patrolling since Friday, officials said. While sources said Dubey got in touch with Khan when the latter was lodged at Thane jail a few months back, prison officials said they were unaware if Khan was lodged there and may have interacted with Dubey to hatch the escape plan.

Bank robbery bid: ‘Killer’ who fled from Vasai court held in 48 hours
Nearly 350 ‘male escorts’ cheated by gang in Mumbai
Times of India | 4 days ago | |
Times of India
4 days ago | |

MUMBAI: Close to 350 men from the city and its outskirts have been cheated by a gang and yet just one of them has come forward to lodge a complaint. The reason? They are allegedly male escorts and were duped while trying to ply their trade. The modus operandi of the gang (two members of which have been arrested) was simple and apparently foolproof. Foolproof because by targeting male escorts, they knew no one would file a complaint unless the escort were willing to inflict self-incrimination upon himself. Gang thought duping escorts was safe, yet one complained A gang found a simple and apparently foolproof modus operandi to dupe prospective male escorts from the city and its outskirts. It was foolproof because the gang was sure no one would come forward to complain. Now the simple (though creative) part: The gang would lure men to become members of "friendship groups" by paying them; it would tell them that all they would need to do was visit hotel rooms to be with women clients; just as a member of one such friendship group would reach his designated hotel, he would be asked to buy a gift by making an online payment to impress his client; after making the payment, the man would enter the hotel and go to the room, only to find it either empty or occupied (and if occupied, certainly not by a woman waiting for him to charm her out of her senses). The racket came to light after one of the victims mustered the courage to inform the police. He told cops that a gang approached him on WhatsApp where they offered him membership for three groups: Geeta Friendship Club, Rushi Friendship Club and Neeta Spa Friendship Club. He said he was asked to pay a registration fee of Rs 1,500 plus Rs 1,500 more for two months' service. Last week, the complainant was asked to go to a three-star hotel. He was asked to buy a "gift" (a body massage kit) by paying Rs 6,500 online. He was told that once he made the payment the club would provide him with the promised kit at the hotel room. To assure him, he was told that he should send his "live picture" once he was outside the hotel (as an identifier). The complainant was also asked to deposit Rs 11,000 as security before entering the hotel. He was told he would get the security deposit back. "The complainant was told by the gang that if he became a club member, he would be sent for massage services to women in various hotels, who will pay Rs 30,000-40,000. He was also told that he would have to pay the club 20% of the amount," said an officer. In all, the complainant paid almost Rs 20,000 before realising that he had been duped. "Based on his complaint, police, with technical help, went on the money trail and tracked down the beneficiary's bank account. The account holder was identified as Abhishek Singh. We arrested him. During the course of interrogation, Abhishek spilled the beans on his accomplices: Sujit Anil Singh, Chhotu Singh and Kiran Singh. We raided Chhotu's house and arrested him while the others are at large," said an officer. During investigation, police found many similar transactions on Abhishek's bank account. Police froze the account, which had Rs 7.27 lakh. They also seized seven mobile phones with seven SIM cards from the accused. Police are now looking for the other accused in the case, to which IPC sections for cheating and forgery have been applied.

Nearly 350 ‘male escorts’ cheated by gang in Mumbai
Medha Patkar saga: From Narmada anti-dam movement face to fighter for many causes
The Indian Express | 5 days ago | |
The Indian Express
5 days ago | |

It was in 1985 that Medha Patkar, then just 31, left her PhD midway to jump headlong into the Narmada Bachao Andolan (NBA). Mumbai-born Patkar, the daughter of freedom fighter and labour union leader Vasant Khanolkar, had done her Masters in Social Work from the Tata Institute of Social Sciences and from her early years got involved in several causes involving generally the “oppressed” and poor.However, it was the Narmada agitation, which grew into a protest against big dams and the right of the displaced to rehabilitation, later spreading to other similar projects, that came to define the activist.It also brought her into direct conflict with the Gujarat government, particularly when it was led by Narendra Modi between 2001-14, with Modi staking the development image of his government on the ambitious Sardar Sarovar dam project.Patkar’s appearance at Rahul Gandhi’s Bharat Jodo Yatra recently, walking shoulder to shoulder with him, was enough for the BJP to drag the activist into the election slugfest.Modi, who remains the face of the BJP campaign, Union Home Minister Amit Shah, Chief Minister Bhupendra Patel, have all attacked Patkar during this election, as “anti-Gujarat”, a prime hurdle in the state’s development, and as “urban Naxal”.The Sardar Sarovar dam project on Narmada river for which Prime Minister Jawaharlal Nehru laid the foundation stone on April 5, 1961, had a full reservoir level (FRL) height of 49.08 metres for harnessing the river for irrigation and power generation in the Narmada basin. In 1965, a higher dam with an FRL of 152.45 metres was recommended by a committee. Madhya Pradesh did not agree to its recommendations, leading to the setting up of the Narmada Water Dispute Tribunal in October 1969.This tribunal gave its final award in 1979, fixing the FRL at 138.68 metres, as well as the share of the water and hyrdo power between the riparian states — Gujarat, Madhya Pradesh, Rajasthan and Maharashtra. This award was to neither be changed nor reviewed till 2025. The aim of this dam was to provide water for irrigation in at least 15 districts of Gujarat and some parts of Rajasthan and Maharashtra and to share the hydroelectric generated between Gujarat, Maharashtra and Madhya Pradesh.The construction of the dam began in 1987, backed by funds from the World Bank. By then, the NBA was already spearheading protests against it. Finally, under immense pressure from anti-dam activists, the World Bank withdrew from the project in 1993. The construction was later halted by the Supreme Court in May 1995.In February 1998, the work on the dam resumed, with its height then at 88 metres. In 2000, the apex court set a condition of supervised relief and rehabilitation for the dam oustees. By 2004, the FRL had reached 110.64 metres. In March 2006, when Modi was about to complete his first term as CM, clearance was given for raising the dam’s height to 121.92 metres. When the Centre sought a review, Modi sat on a hunger strike for 51 hours.In 2014, just 17 days after it took over at the Centre, the Modi government gave permission to raise the dam’s height to its maximum and install sluice gates. In July this year, its waters reached its final Kutch end.While the BJP has always blamed the Congress governments over the years for not releasing funds and hence delaying the Sardar Sarovar Project, under the Modi government, as per figures tabled in the Gujarat Assembly in March 2021, only 64% of the Rs 9,605 crore sought by the state has been released between 2015-16 and 2019-20 for it.Along with other activists, prominent leaders and academicians, the NBA relentlessly fought against the Gujarat government, starting with Congress CM Chimanbhai Patel, over the Sardar Sarovar Project. Its contention was that the tribals’ displacement from their native habitats caused by big dams and their resettlement elsewhere would leave them devastated.At its maximum FRL of 138.68 metres, the Sardar Sarovar dam submerged 37,690 hectares — 11,279 hectares of agricultural land, 13,542 hectares of forests and 12,869 hectares of river basin and wasteland. In all, 193 villages of Madhya Pradesh, 33 of Maharashtra and 19 of Gujarat were affected, with additionally 243 villages partly affected in Gujarat.The NBA demanded proper rehabilitation of 40,000 people who, it said, were displaced by the dam project, particularly tribals across Gujarat, Madhya Pradesh and Maharashtra.The Patkar-led movement held indefinite fasts, demonstrations and rallies, drawing hundreds of supporters to protests against the Sardar Sarovar dam and other big dams in the Narmada Valley. In the 1980s and 1990s, she also ran foul of the Congress governments in the affected states, with governments accusing her of hampering development.In the 1980s, as part of the movement, Patkar organised a 36-day solidarity march from Madhya Pradesh to the Sardar Sarovar Project site. Patkar’s agitation, along with protests by locals, forced the World Bank to set up Morse Commission, an independent review of the project, which is said to have concluded that it violated environmental and resettlement policies. The World Bank withdrew funding in 1993.Her agitation also saw clashes between the NBA members and the authorities, while drawing support from the late Baba Amte, Booker Prize winner Arundhati Roy, film star Aamir Khan, and filmmaker Anand Patwardhan, among others. Bihar Chief Minister Nitish Kumar, too, participated in a protest rally organised by the NBA in 2016.Patkar undertook many fasts to protest against major dams over the years and also periodically sat on Jal Satyagrahas in the villages that now stand submerged in the Narmada Basin, to oppose oustees’ evacuations.Noted Dalit writer of Maharashtra Arjun Dangle, who closely watched the NBA agitation, said: “Medhatai’s integrity and commitment to the cause of the tribals, oppressed and downtrodden cannot be doubted. She single-mindedly pursued a cause to get justice for the tribals and poor displaced by the dam projects.”Patkar has always maintained that it is wrong to call her or her organisation “anti-development”, asserting that she only fights for the rights of the tribals and people displaced by various projects and never properly rehabilitated.Political parties across divides have also often questioned the source of funds to her organisation. Patkar and 11 others were booked in a case of alleged misuse of funds in Barwani district of Madhya Pradesh, which was filed in July this year. They were accused of allegedly misusing around ₹ 13 crore collected in the name of education of tribal children. Patkar rejected the charges as baseless and “politically-motivated”.Apart from the dam-affected people, Patkar has taken up the cause of slum dwellers in Mumbai under the aegis of Ghar Bachao, Ghar Banao, accusing land sharks and big developers of forcibly evicting them. She has also sued contractors by filing PILs against them.It was largely due to her protests that in 2006, the then Congress-NCP government in Maharashtra brought a new housing policy promising affordable houses and slum redevelopment.She was also one of the opponents to the hill station project Lavasa City near Pune for allegedly violating environment laws and taking away land of tribals.In 2007, Patkar for the first time ventured beyond Maharashtra, Madhya Pradesh and Gujarat, and joined the Nandigram agitation in Kolkata. With the Trinamool Congress led by Mamata Banerjee leading the stir, the Tatas eventually relocated the Nano plant for which land had been taken in Nandigram to Gujarat.Patkar was part of the agitation against land acquisition for the nuclear plant at Srikakulam district in Andhra Pradesh as well.In March 2022, she questioned the Silverline semi-high speed railway corridor project being built in Kerala by the Pinarayi Vijayan government-led LDF government.In her late 60s, Patkar is still fighting, raising her voice against the JSW Steel Project in Odisha as recently as June. However, this time, she did not get any support, with villagers driving her away. In July, an FIR was filed against her by one villager in Odisha alleging that the NBA trust had misused funds meant for education of tribals.Senior CPI leader Prakash Reddy said it was natural for the BJP to attack her. “The party has always sided with the capitalists. Anybody who fights for the poor gets treated badly.”Patkar has been at the centre of the BJP’s attack in its campaign for the upcoming Gujarat Assembly polls, first to target the Arvind Kejriwal-led Aam Aadmi Party (AAP) for having fielded Patkar in a Lok Sabha election(in 2014 from Mumbai North East seat, which she lost) and recently, to attack the Congress after she joined Rahul Gandhi’s Yatra during its Maharashtra leg. In his Gujarat poll rallies, PM Modi slammed the Congress over Patkar marching with Rahul, asking voters to punish “Narmada protesters”.

Medha Patkar saga: From Narmada anti-dam movement face to fighter for many causes
UPSC Weekly Quiz— November 20 to 26, 2022
The Indian Express | 5 days ago | |
The Indian Express
5 days ago | |

UPSC Weekly Quiz is a current affairs-based quiz on some relevant topics from the past week curated for the benefit of aspirants of UPSC and other competitive examinations. Attempt weekly quiz every Saturday and find answers to the MCQs with explanation at the end of the article.With reference to the Constitution of India, consider the following statements1. Since 1950, Nov 26 is observed as Constitution Day, or ‘Samvidhan Diwas’.2. The Constitution of India was adopted on January 26, 1950.Which of the statements is/are incorrect?a) Only 1b) Only 2c) Both 1 and 2d) Neither 1 nor 2With reference to the Election Commission of India, consider the following statements1. From the beginning, the Election Commission of India was a multi-member body.2. Article 324(2) of the Constitution fixes the size of the Election Commission.3. The Chief Election Commissioners and other Election Comissioners enjoy the same status and receive salary and perks as judges of the Supreme Court of India.How many statements mentioned above are correct?a) Only one statement is correctb) Only two statements are correctc) All three statements are correctd) None of the statements are correctWith reference to ‘Writing off a loan’, consider the following statements1. Writing off a loan essentially means it will no longer be counted as an asset.2. The bank writes off a loan after the borrower has defaulted on the loan repayment and there is a very low chance of recovery.3. By writing off loans, a bank can reduce the level of non-performing assets (NPAs) on its books.4. An additional benefit is that the amount so written off reduces the bank’s tax liability.How many statements mentioned above are correct?a) Only two statements are correctb) Only three statements are correctc) None of the statements are correctd) All the statements are correctRecently seen in the news, Purnima Devi Barman isa) a Guinness world record holding mountaineerb) a classical dancerc) a wildlife biologistd) a world renowned economistWith reference to the CITES, consider the following statements1. India joined Convention on International Trade in Endangered Species of Flora and Fauna (CITES)  in 1976.2. The ivory trade was banned in 1989 in African continent only when all African elephant populations were put in CITES Appendix I.3. No trade is allowed in species listed in CITES Appendix I while trade is strictly regulated in those under Appendix II.Which of the statements given above is/are correct ?a) 1 and 2 onlyb) 1 and 3 onlyc) 2 onlyd) 1,2 and 3With reference to Tipu Sultan, consider the following statements1. Tipu patronised various temples and Hindu shrines, including the Sri Ranganatha temple at Srirangapatna and the Math in Sringeri.2. He introduced new coins, started a new land revenue system in Mysore, as well as introduced sericulture, which continues to employ many Kannadigas to date. Which of the statements given above is/are correct ?a) Only 1b) Only 2c) Neither 1 nor 2d) Both 1 and 2With reference to the Great Nicobar, consider the following statements1. Great Nicobar is the southernmost of the Andaman and Nicobar Islands.2. The Andaman and Nicobar Islands are a cluster of about 836 islands in the eastern Bay of Bengal, the two groups of which are separated by the 150-km wide 11 Degree Channel. 3. Great Nicobar islands are home to 2 mongoloid tribes – Shompen and Nicobarese.4. Galathea National Park and Mahatma Gandhi Marine National Park are the national parks situated in Nicobar islands.Which of the statements given above is/are correct ?a) 1 and 2 onlyb) 1 and 3 onlyc) 1 and 4d) 1,2,3 and 4Consider the following statements regarding the planet Venus1. Presently, large fields of solidified volcanic rock cover most of the planet’s total surface area. 2. The discovery of Phosphine gas on Venus is a potential sign of life on the glittering planet Which of the following statements are correct?a) Both 1 and 2b) 1 onlyc) 2 onlyd) Neither 1 nor 21 (c)Both statements are incorrect.Make sure you have paid attention to the word ‘incorrect’. Know the difference ‘adopted’ and ‘came to effect’.FYI:On November 26, 73 years ago, the Constitution of India was adopted, coming into effect on January 26, 1950. Since 2015, the day has been observed as Constitution Day, or ‘Samvidhan Diwas’.The Constituent Assembly took two years, 11 months and 17 days to draft the Constitution for Independent India. During this period, it held 11 sessions covering 165 days, and its members submitted around 7,600 amendments to the draft Constitution.2 (a)Only one (statement 3) is correct.FYI:Appointment of Chief Election Commissioner, Election CommissionersThe CEC and ECs are appointed by the President to a tenure of six years, or up to the age of 65 years, whichever is earlier. They enjoy the same status and receive salary and perks as judges of the Supreme Court of India.The Election Commission of India draws its authority from the Constitution itself. Under Article 324, the powers of “superintendence, direction and control of elections” is to be vested in an Election Commission.Size of the Election CommissionThe Constitution does not fix the size of the Election Commission. Article 324(2) says that “the Election Commission shall consist of the Chief Election Commissioner and such number of other Election Commissioners, if any, as the President may from time to time fix”.From the beginning, the Election Commission of India consisted of just the Chief Election Commissioner. However, on October 16, 1989, the Congress government of Prime Minister Rajiv Gandhi appointed two more Election Commissioners, making the Election Commission a multi-member body.The appointments were done just before the commencement of the Ninth General Election, and were criticized as being an attempt to compromise the independence of the Election Commission and of CEC RVS Peri Sastri.On January 2, 1990, the National Front government of Prime Minister VP Singh amended the rules, making the EC a single-member body again.However, on October 1, 1993, the government of Prime Minister PV Narasimha Rao promulgated an Ordinance to provide for the appointment of two more Election Commissioners.The EC has had three members ever since. The Ordinance was subsequently replaced by The Chief Election Commissioner and Other Election Commissioners (Conditions of Service) Amendment Act, 1993, which came into effect on January 4, 1994.All three ECs have equal say in the decision making of the Commission.3 (d)All three statements are correct.FYI:Banks wrote off more than Rs 10 lakh crore in loans over the last five years, according to RBI data obtained by The Indian Express under the Right to Information (RTI) Act. They have been able to recover only 13% (Rs 1,32,036 crore) of the Rs 10,09,510 crore ($123.86 billion) they wrote off, according to the reply.While public sector banks reported the lion’s share of write-offs at Rs 734,738 crore, private sector banks were not far behind in bringing down their non-performing assets (NPAs). Private banks accounted for 27.28 per cent of the total banking sector write-offs over the last five years, the RBI’s reply shows.What is a loan write-off?Writing off a loan essentially means it will no longer be counted as an asset. By writing off loans, a bank can reduce the level of non-performing assets (NPAs) on its books. An additional benefit is that the amount so written off reduces the bank’s tax liability.Why do banks resort to write-offs?The bank writes off a loan after the borrower has defaulted on the loan repayment and there is a very low chance of recovery. The lender then moves the defaulted loan, or NPA, out of the assets side and reports the amount as a loss.After the write-off, banks are supposed to continue their efforts to recover the loan using various options. They have to make provisioning as well. The tax liability will also come down as the written-off amount is reduced from the profit.However, the chances of recovery from written-off loans are very low — as the RTI reply shows — which raises questions about the assets or collateral against which the banks lent funds to these defaulters.4 (c)FYI:Indian wildlife biologist Dr Purnima Devi Barman was recently awarded with Champions of the Earth award in the Entrepreneurial vision category , UN’s highest environmental honour. She is the founder of the Hargila Army and senior project manager of the Avifauna Research and Conservation Division, Aaranyak.The Champions of the Earth is an appreciation for innovative ways implemented by the awardees across the world to support nature’s extraordinary capacity for renewal.5 (b)Read the second statement carefully. It just requires your presence of mind.FYI:For the first time since joining the Convention on International Trade in Endangered Species of Flora and Fauna (CITES) in 1976, India did not vote against a proposal seeking to re-open the ivory trade.The ivory trade was globally banned in 1989 when all African elephant populations were put in CITES Appendix I.No trade is allowed in species listed in CITES Appendix I while trade is strictly regulated in those under Appendix II.6 (d)FYI:Tipu was adept in the art of warfare, having been involved in his first battle at the age of 15.Tipu also patronised various temples and Hindu shrines, including the Sri Ranganatha temple at Srirangapatna and the Math in Sringeri.He introduced new coins, started a new land revenue system in Mysore, as well as introduced sericulture, which continues to employ many Kannadigas to date.7 (b)Mahatma Gandhi Marine National Park is a national park of India on the Andaman Islands.FYI:Great Nicobar, the southernmost of the Andaman and Nicobar Islands, has an area of 910 sq km.The Andaman and Nicobar Islands are a cluster of about 836 islands in the eastern Bay of Bengal, the two groups of which are separated by the 150-km wide Ten Degree Channel.Great Nicobar is home to two national parks, a biosphere reserve, and the Shompen and Nicobarese tribal peoples, along with ex-servicemen from Punjab, Maharashtra, and Andhra Pradesh who were settled on the island in the 1970s.The project site is outside the eco-sensitive zones of Campbell Bay and Galathea National Park.8 (a)Both statements are correct.FYI:Volcanism may be responsible for changing ancient Venus’ wet and temperate climate to the acidic planet that we know today, according to a research paper by NASA. The paper notes that large-scale volcanism usually lasts tens or hundreds of thousands of years. Over time, they spew somewhere around 100,000 cubic miles of volcanic rock on the surface. For a quick reference, this amount of molten rock is enough to cover the whole of Texas half a mile deep. Presently, large fields of solidified volcanic rock cover more than 80 per cent of the planet’s total surface area.The discovery of Phosphine gas on Venus as a potential sign of life on the glittering planet has made many scientists and astronomers ecstatic, but on the contrary to it, a significant question arises whether we are alone in this solar system or is there any form of life substantially existing elsewhere.Phosphine gas is generally toxic with a garlic-like smell and is found in the bodies of living beings on earth. It is quite impossible to produce artificially. Its hazardous ramifications are such that, it’s used by terrorists as a chemical agent in warfare.

UPSC Weekly Quiz— November 20 to 26, 2022
Bambai se aaya mera ‘naya’ dost: Why Aaditya and Tejashwi have hit ‘like’
The Indian Express | 1 week ago | |
The Indian Express
1 week ago | |

Politics is the art of the possible, and Maharashtra has been learning it every day. Wednesday was one such learning when Thackeray scion Aaditya travelled all the way to Patna to meet Lalu legatee Tejashwi. The purpose of the meeting was to secure the RJD leader’s support for the coming Mumbai civic polls, to get the Uddhav Sena the Bihari immigrant vote.This is the same Shiv Sena that built its politics and vote base in Mumbai with its strident “Marathi Manoos” campaign, directed specifically against migrants from Uttar Pradesh and Bihar. But, then, it is not the same Shiv Sena — split vertically down the middle, with one half dependent on the BJP and the other led by Uddhav desperate to hold on to the BMC to establish itself as the real Sena.As the Bihar BJP attacked the RJD and partner JD(U) for hobnobbing with a party that had bad mouthed people from the state, both Aaditya and Tejashwi insisted that all that was a thing of the past and that, for them, the future lay in “Opposition unity”.In Patna, Aaditya met both Tejashwi, the Bihar Deputy Chief Minister, and JD(U) chief and CM Nitish Kumar, who is pretty choosy about whom he grants an audience to.In the last BMC polls, held in 2017, the BJP had given the then united Sena a scare, winning 82 seats to its 84 in the 227-member corporation. The wards recently saw delimitation, which the Opposition claims favours the BJP, while the Uddhav Sena is bound to lose some of its vote bank to the Shinde faction. That makes any additional vote valuable, which is where the migrants come in. Migrants from the North, mostly UP and Bihar, are believed to add up to 20% of Mumbai’s population.The Shiv Sena has controlled the BMC for more than two decades, and a win here is a must for Uddhav to hold on to his cadre at a time when the Shinde faction has more MLAs, MPs and holds power.Questioning Tejashwi and Nitish’s meeting with Aaditya, BJP Rajya Sabha MP and former deputy CM Sushil Kumar Modi said: “How can Nitish Kumar or any Mahagathbandhan leader seek votes for the Uddhav-led Shiv Sena, which has consistently insulted people from Bihar, even attacked them? While Nitish Kumar or Tejashwi would have little impact in the BMC polls, even thinking of campaigning for the Uddhav Sena is unpalatable for the people of Bihar,” Modi said.With the BJP in government with the Shinde Sena in Mumbai, Modi added that the “original” Sena that is following the ideals of Balasaheb Thackeray is with Maharashtra CM Eknath Shinde. “The Uddhav-led Sena is with the Congress, which has insulted Veer Savarkar. Nitish Kumar should clarify where he stands now. Congress leader Rahul Gandhi should also remember that as PM, Indira Gandhi had issued a postal ticket in the name of Savarkar,” said Modi.The BJP leader dismissed the claims of “much-hyped” Opposition unity, saying it was headed nowhere, and that the Aaditya-Tejashwi talks were only a meeting of “two dynasts”.Asked about the Sena’s campaign against Bihar migrants in Mumbai in the past, Aaditya claimed: “Those who ill-treated people from Bihar are now with the BJP.”Tejashwi said: “There is no reason to invoke the past. What is important today is Opposition unity.” With father Lalu Prasad to all purposes out of the picture, Tejashwi, who is hoping to find his feet, got a resounding endorsement from Aaditya as being a “long-distance horse”.A senior JD(U) leader added: “Equations change in politics from time to time… Our party supports any party that is against the BJP.”If Shinde split the Sena to fell the MVA coalition government in Maharashtra earlier this year, Nitish had parted ways with the BJP to dislodge the NDA government in Bihar, and formed a ruling coalition with the RJD and Congress.Even granted this topsy-turvy, the Sena’s new-found Bihar outlook is quite a departure from its past. In March 2008, an editorial in its mouthpiece Saamna had carried the headline Ek Bihar, Sau Bimar (One Bihar behind so many problems), in a vitriolic attack on migrants. The editorial said migrants from Bihar “antagonised” local populations wherever they went. The Sena had also justified the spate of attacks against UP and Bihar migrants in Mumbai by the Maharashtra Navnirman Sena of Raj Thackeray.Warning politicians from the two states to show “restraint” in their reaction, the Sena had said migrants might see even more violence otherwise.Founded by the late Bal Thackeray on June 19, 1966, the Sena’s central plank from the start was “sons of the soil”, with South Indians based in Mumbai its first target of attack. The Sena supremo accused them of grabbing most of the government jobs. In the 1980s, the Sena turned its attention to North Indians, with attacks on lowly job holders such as migrant hawkers, rickshaw pullers, who were mostly from UP and Bihar.Then, in the 1990s, the Sena stepped up its campaign over the “high” recruitment of candidates from Bihar in the Indian Railway sector. It alleged that central North Indian leaders were prejudiced against Maharashtra.In the party’s annual Dussehra rallies too, Bal Thackeray often attacked North Indians, a refrain later picked up by Uddhav to consolidate the Sena’s Marathi vote bank. In 2012, Uddhav talked of issuing “mandatory permits” to check the influx from Bihar and UP.It was only in the early 2020s, as it felt threatened by the BJP (with its stronger hold on the North Indian vote), and moved towards the NCP and Congress, that the Sena softened its anti-migrant stand.During the 2020 Bihar Assembly elections, the Sena had been full of praise for Tejashwi, who spearheaded the RJD campaign, with a Saamna editorial claiming the party would defeat the NDA.When the Covid-19 pandemic broke, and migrants started heading home, Uddhav, the CM at the time, made special appeals for them to stay, promising to look after them.

Bambai se aaya mera ‘naya’ dost: Why Aaditya and Tejashwi have hit ‘like’
Maharashtra grapples with loss: 9 of 10 parents who died of Covid were fathers
The Indian Express | 1 week ago | |
The Indian Express
1 week ago | |

IN APRIL last year, Nagesh Vishwas Unde, a daily-wage labourer in Maharashtra’s Ahmednagar, died of Covid-19. With the family’s only earning member gone, Unde’s wife was forced to take up work as a farm labourer to ensure her children stayed on in school and college.“I am in my second year of BCom and my 16-year-old sister is in Class 10. My father couldn’t study, but he wanted us to complete our education. After his death, my mother was forced to find work,” says Unde’s son Rohan.After two years of the pandemic, as the Covid curve flattens across the country, data from the Women and Child Development (WCD) Department in Maharashtra shows that for every child in the state who lost her mother to the novel coronavirus infection, nine lost their fathers.Since the start of the pandemic in March 2020, 28,938 children in the state lost either of their parents to the infection — of those who died, 2,919 were mothers and 25,883 fathers. In 136 cases, more than one child from the same family lost either of their parents.Between March 2020 and October 2021, Maharashtra recorded 1,39,007 Covid deaths — 92,212 men (66.3%) and 46,779 women (33.6%). According to the Union Health Ministry, Maharashtra’s Covid death count till date, at 1,48,404, is the highest for any state, followed by Kerala’s 71,477 deaths.“Epidemiological findings reported from across the world indicated higher morbidity and mortality (due to Covid) in men than women. There are various factors that are attributed to this – lifestyle and immunological differences, and compliance of Covid protocols,” said Dr Rahul Pandit, Senior Intensive Care Consultant, Fortis Hospital.This overwhelming gap in mortality by gender suggests that the pandemic may have pushed many of these families – especially those in which the men were the sole breadwinners – into financial instability.The Undes say that after a struggle for six months, the family got the Covid ex-gratia amount of Rs 50,000 which has helped them with their school and college fee. “I don’t know how we will pay our fee next year,” said Rohan.Department officials say what has proved to be a hurdle for many of the Covid widows is that they lack the documents that can establish them as the legal heir to their husbands’ property.An officer from the State Relief and Rehabilitation Department – which is responsible for dispersing the Rs 50,000 that the government announced as ex-gratia to the kin of the Covid victims – said, “We have come across several duplicate applications where both the wife of the deceased and his parents have claimed the ex-gratia,” said the officer.Advocate Vidya Abhiman Kasabe of Aadhar Bahuuddeshiya Vikas Sanstha, a Nashik-based NGO that has been working for women widowed during the pandemic, says that in large parts of the state, especially in rural areas, men don’t mention the names of their wives in legal documents such as property ownerships or banks, making it difficult for the women to claim their property.“We have come across several cases where women are blamed for their husbands’ death and are evicted from their homes… In fact, despite having money in the deceased husband’s bank accounts, the woman can’t claim it as her name isn’t mentioned as nominee,” she said.Since the start of the pandemic, 851 children have lost both their parents to the novel coronavirus. As part of its scheme for Covid orphans, the state provides a fixed deposit of Rs 5 lakh in the names of the children. They also get a monthly allowance of Rs 1,125. Besides, under the PM Cares for Children Scheme, Covid orphans get Rs 10 lakh in their bank accounts by the time the child turns 23.

Maharashtra grapples with loss: 9 of 10 parents who died of Covid were fathers
Daily Briefing: Political parties intensify Gujarat poll campaigns; Ex-labour commissioner arrested in Andaman rape case; and more
The Indian Express | 1 week ago | |
The Indian Express
1 week ago | |

Big StoryWith just days to go before the Gujarat Assembly elections, the campaign trail is heating up with the Congress and BJP launching scathing attacks against each other on Monday. Here’s what happened: 🔴 Addressing a public rally in Surendranagar, PM Narendra Modi slammed the Congress for calling him names, including the promise to show him his “aukat” (status or position), instead of focussing on development issues. He pointed to Narmada Bachao Andolan leader Medha Patkar joining Congress leader Rahul Gandhi’s Bharat Jodo Yatra in Maharashtra, asked voters to “punish” the “Narmada protesters”.🔴 Meanwhile, Rahul Gandhi chose the tribal-dominated Mahuva reserved constituency to hit the Gujarat campaign trail. Here, he said that his party stood for the rights of the Adivasis and treated them as the “first owners of the country” while the BJP called them Vanvasis and “snatched their land to give them to industrialists”.Only in the Express In our opinion section today, Shyam Saran writes on the recently-held COP27 climate summit: “The focus on the loss and damage issue was used to deflect attention from critical issues, including the repeated failure of the developed countries to own up to their historical responsibility for climate change.”From the Front Page July 7 was no ordinary day for the residents of Mod Kuba, which marks the tail-end of the 357-km-long Kutch Branch Canal (KBC) of the Sardar Sarovar Project (SSP) on the Narmada river, among the centrepieces of the BJP’s campaign narrative in poll-bound Gujarat. Water started flowing through the Narmada canal around midnight. But their joy was short-lived, with a section of the canal near the village developing a breach within 24 hours.On August 5 this year, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 32 lakh on a public sector bank for non-compliance with certain provisions of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FIs) Directions 2016. However, it did not provide details of the non-compliance or violations by the bank.Andaman & Nicobar (A&N) Labour Commissioner R L Rishi, wanted in connection with the gangrape of a 21-year-old woman, and absconding for over a month, was arrested by the A&N Police. Sources said Rishi arrived at Port Blair airport from Chennai following which he was arrested.Must Read As work continues for the completion of the 13.3-km-long ‘missing link’ project that’s expected to decongest the six-lane Mumbai-Pune Expressway, we take a look at the construction of the twin tunnels, which, at 24 metres each, are set to be Asia’s widest.A lot is at stake for the BJP this time in the Nandod constituency of Gujarat, which covers both the Statue of Unity and the Sardar Sarovar Dam, two of the Modi government’s pet projects. We break down the politics of Nandod.The Ministry of Environment, Forest and Climate Change had given environmental clearance for the ambitious Rs 72,000 crore development project on the strategically important Great Nicobar Island. We explain the proposal, purpose and concerns it raises.And Finally As Iran’s national anthem rang out inside the Khalifa Stadium before the team’s opening World Cup match against England, the players stood together in silence expressing solidarity  with the protests led by women back home against the ruling regime. We report from Qatar on how the game was more than a football match for Iran.Delhi confidential: Ahead of MCD polls, BJP national vice-president Baijayant Panda’s warm ties with many BJP chief ministers seemed to have helped the party put up an impressive show of strength on Sunday.🎧 In today’s episode of the ‘3 Things’ podcast, we take a look at the murder of an ex-navy man by his son, Indian volunteers and vendors at the FIFA world cup, and journalist Gauatam Navlakha’s arrest in Elgaar Parishad case.Until tomorrow,Aneesa PA and Rahel Philipose 

Daily Briefing: Political parties intensify Gujarat poll campaigns; Ex-labour commissioner arrested in Andaman rape case; and more
Senior citizen accuses man, son of Rs 66 lakh cryptocurrency fraud in Pune
Times of India | 1 week ago | |
Times of India
1 week ago | |

PUNE: The Hinjewadi police are investigating a complaint of a 71-year-old Hadapsar resident, accusing a father-son duo, who run an investment firm, of duping him of Rs 66 lakh. According to the complainant, the duo from Bavdhan promised to double his investment of Rs33 lakh in cryptocurrency within six months. The complainant, who retired from a private company, told police that between June and August 2020, he made an RTGS transfer to the duo’s bank account as part of the investment deal. The latter gave him post-dated cheques worth Rs66 lakh as a guarantee. However, the cheques were returned on account of insufficient balance. The elderly man started pursuing the duo to return his money and promised benefits, but they kept giving him false assurances. The man first filed a complaint application with the Pune police, which was transferred to the Hinjewadi police. After a preliminary probe, the Hinjewadi police on Sunday registered the cheating case. An officer from the Hinjewadi police told TOI that the complainant wanted to invest his retirement benefits in the capital market. In May 2020, he came in contact with the duo from Bavdhan through one of his acquaintances. “They told the complainant about a particular cryptocurrency that was in demand and assured double returns on his investments in just six months,” the officer said. Between June and August 2020, the complainant transferred Rs33 lakh to the duo’s bank account. “They also made an agreement of their deal and gave the complainant four cheques of Rs66 lakh as guarantee,” the officer said. After six months, when the victim asked for his money, they started delaying it. “When he went to their office a few weeks ago, the duo said a case about cryptocurrency was pending in the Supreme Court. They claimed their bank accounts were frozen,” the officer said, adding, “We have booked them on charge of cheating. Our probe is on.”

Senior citizen accuses man, son of Rs 66 lakh cryptocurrency fraud in Pune
Maharashtra: Rs 2.8 lakh siphoned off in power bill fraud
Times of India | 1 week ago | |
Times of India
1 week ago | |

PUNE: A cybercrook siphoned off Rs 2.77 lakh from the bank account of a 75-year-old resident of Santosh Nagar in Katraj, in another Maharashtra State Electricity Distribution Company Limited (MSEDCL) bill fraud in the city. "The victim told us in his complaint on Thursday that on October 16, he received a call from 'a representative of the power utility'. The man said electricity supply to his residence would be cut by evening over an unpaid bill," said sub inspector Nitin Jadhav of Bharati Vidyapeeth police. Jadhav added, "The caller then asked the victim to click on a link sent to him. When he did so, the crook hacked into his phone and stole data, using it to steal money from the victim's bank account." Initially, the complainant reported the matter to the cyber crime cell, which conducted a verification and then referred it to the Bharati Vidyapeeth police for an FIR. "The victim said he came to know after receiving text messages that the crook had made six-seven transactions of varying amounts. He blocked the account and filled the bank's dispute form to reclaim the money, before filing a complaint," said Jadhav, adding, "We have sent emails to the mobile phone company and bank for details of the calls and transactions. We will plan our action soon." Expert speakCyber expert Riyaz Nadaf told TOI, "The modus operandi of such crooks is to identify and target elderly people, who are not always tech-savvy. The crooks call the victims and create fear saying power supply will be disconnected, or calls and accounts will be blocked. After the victims plead, the crooks send them a link to download a software. This gets them remote access to the victim's phone, linked to the bank account. The crooks also get access to PIN numbers and can then transfers money from bank accounts." He added, "MSEDCL bill frauds can be curbed if victims stop giving phone access to strangers. If they get such calls, they should verify the veracity of the threat from power supply authorities and also inform the police."

Maharashtra: Rs 2.8 lakh siphoned off in power bill fraud
  • Maharashtra: MSEDCL unearths Rs 2.5 crore power thefts in 3 days
  • Times of India

    MUMBAI: The MSEDCL vigilance team unearthed power thefts to the tune of Rs 2.5 crore in the past three days. They registered a total 198 cases in various parts of state, of which the highest number of cases were in Thane (10 cases). The team found that in all cases, the meters had been tampered or slowed down to show less meter reading. The accused have been booked under Electricity Act and FIRs have also been registered at some of the police stations, officials said. The raids were conducted in parts of Thane, Navi Mumbai, Raigad, Pune, Aurangabad and Nagpur under the supervision of MSEDCL managing director Vijay Singhal who said that theft detections will ensure reduction in power distribution losses across state. In Konkan region alone, the theft was of electricity worth Rs 1.2 crore, sources added.

Pune: Bank’s deputy manager held with Rs 2 crore in car in Camp
Times of India | 2 weeks ago | |
Times of India
2 weeks ago | |

PUNE: The city crime branch have arrested the deputy manager of a nationalised bank's currency chest at Manchar, some 65km from the city off the Nashik highway, and two others in an alleged plot to aid conversion of black money into white. The police said they were attempting to do so by moving Rs2 crore cash out of the chest and re-routing it to the bank through a charitable trust, after securing an excess amount to the trust in the form of a donation from a company. Deputy commissioner of police (DCP-crime) Shrinivas Ghadge told TOI on Monday, "Acting on a tip-off, our team intercepted a car on the Dr Babasaheb Ambedkar Road in Camp last Thursday and seized two bags, containing a total of Rs2 crore in cash, in Rs500 and Rs2,000 currency note denominations. The trio in the car was taken into custody and an investigation was started." Senior crime branch inspector Ganesh Mane said, "The cash was to be given to a company, which was to make an RTGS transfer of Rs3 crore to a charitable trust run by one of the other two arrested men, in the form of a tax-free donation. The excess Rs1 crore was to be shared among the three men and the trust was to transfer Rs2 crore back to the bank chest. The trust planned to use the excess money for the construction of an educational institution in Aurangabad, for which the building contract was given to the third person arrested in the case." The currency chest at Manchar is meant for distributing cash received from the Reserve Bank of India (RBI) to the 26 branches of the nationalised bank and other banks. The three arrested men were identified as Sushil Rawale (34), the deputy manager with the currency chest, Amol Kanchar (45) of the charitable trust and Santosh Mahajan (43), the building contractor. Their custody was handed over to the Manchar police.

Pune: Bank’s deputy manager held with Rs 2 crore in car in Camp
Bank of Maharashtra staff, 2 others held for ‘illegal possession’ of bank cash amounting to Rs 2 cr
The Indian Express | 2 weeks ago | |
The Indian Express
2 weeks ago | |

Pune city police have arrested three persons, including a Bank of Maharashtra (BoM) employee, for allegedly carrying cash amounting to Rs 2 crore for “malicious purposes”.Police have identified the accused as Amol Kanchar (45) of Sambhaji Nagar, Santosh Mahajan (43) of Nashik, and Suresh Ravale (34) of Manchar in Pune district.BoM officer Amitkumar Niture lodged the FIR in the case at the Manchar police station of Pune rural police on Sunday.As per a Pune city police press release issued on Monday, a crime branch team headed by inspector Ganesh Mane intercepted a car near the SGS Mall in Pune Camp area on Sunday after receiving information that it was carrying a huge amount of fake currency. During searches, cops recovered two bags from the car carrying a total of Rs 2 crore in cash. Police said the cash was not fake and was found in bundles of original currency notes of Rs 500 and Rs 2,000 denomination.Cops nabbed the three persons who were sitting inside the car.Probe revealed that accused Ravale worked as deputy manager at the currency chest of the BoM, Manchar branch. Police said Ravale allegedly misused his position to illegally remove the cash from the bank. Police said it was learnt during investigation that Ravale and other accused were planning to hand over the cash to some private company, which would then transfer the amount along with an additional sum through RTGS as donation into the account of Kanchar Foundation — a charitable trust belonging to accused Amol Kanchar. Police said the accused had planned to then transfer Rs 2 crore from the trust’s account to BoM, Manchar branch, and later divide the additional amount of money among themselves.Probe revealed that Kanchar allegedly decided to use his share of money for construction of a building for his education institute with the help of Mahajan, police said. Police confirmed that money procured by accused Ravale was from the cash stock meant to be supplied to 26 BoM branches and other banks.Police have booked the three accused persons under sections 408 and 409, which deal with criminal breach of trust, along with 420 (cheating) and 34 (common intention) of the Indian Penal Code (IPC).

Bank of Maharashtra staff, 2 others held for ‘illegal possession’ of bank cash amounting to Rs 2 cr
Bank of Maharashtra tops list of PSU lenders in credit growth in Q2
Times of India | 2 weeks ago | |
Times of India
2 weeks ago | |

NEW DELHI: Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan growth in percentage terms during second quarter of 2022-23. The Pune-headquartered lender recorded 28.62 per cent increase in gross advances at Rs 1,48,216 crore at the end of September 2022, according to published quarterly numbers of public sector banks (PSBs). It was followed by Union Bank of India with 21.54 per cent growth to Rs 7,52,469 crore. The country's largest lender State Bank of India stood at third spot with 18.15 per cent jump in gross advances. However, SBI's total loans were about 17 times higher at Rs 25,47,390 crore as compared to Rs 1,48,216 crore of BoM in absolute terms. With regard to Retail-Agriculture-MSME (RAM) loans, BoM recorded the highest growth of 22.31 per cent followed by Bank of Baroda with 19.53 per cent and SBI at 16.51 per cent during the period under review. As far as low-cost Current Account Savings Account (CASA) deposits are concerned, BoM topped the chart with 56.27 per cent followed by Canara Bank at 50.99 per cent. BoM and SBI with 3.55 per cent Net Interest Margin (NIM), a key profitability parameter, stood at the top among PSBs. It was followed by Bank of India at 3.49 per cent and Central Bank of India at 3.44 per cent. BoM and SBI were in the lowest quartile as far as gross non-performing assets (NPAs) and net NPAs were concerned, according to an analysis of the quarterly financial numbers published by public sector lenders. As per the analysis, gross NPAs reported by BoM and SBI were 3.40 per cent and 3.52 per cent of their total advances, respectively, in the second quarter. Net NPAs of these banks came down to 0.68 per cent and 0.80 per cent, respectively, at the end of September 2022. Moreover, BoM has 16.71 per cent Capital Adequacy Ratio, highest among PSBs, followed by Canara Bank at 16.51 per cent and Indian Bank at 16.15 per cent at the end of second quarter of 2022-23. Finance Minister Nirmala Sitharaman last week had said the government's efforts to reduce bad loans have yielded results with all the 12 PSBs reporting 50 per cent jump in combined net profit at Rs 25,685 crore in the second quarter. In the first half of FY23, the cumulative net profit of all PSBs increased by 32 per cent to Rs 40,991 crore.

Bank of Maharashtra tops list of PSU lenders in credit growth in Q2
RBI cancels licence of Yavatmal-based Babaji Date Mahila Sahakari Bank
The Indian Express | 2 weeks ago | |
The Indian Express
2 weeks ago | |

The Reserve Bank of India (RBI) has cancelled the licence of Babaji Date Mahila Sahakari Bank Ltd, Yavatmal, Maharashtra, as it did not have adequate capital and earning prospects.The bank will cease to carry on banking business from the close of business on November 11, RBI said in a release on Friday.Following the cancellation, the bank has been prohibited from conducting the business of banking, including acceptance of deposits and repayment of deposits.“The bank with its present financial position would be unable to pay its present depositors in full and public interest would be adversely affected if the bank is allowed to carry on its banking business any further,” the release said.On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a ceiling of Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC), the release said. As per the data submitted by the bank, about 79% of the depositors are entitled to receive the full amount of their deposits from DICGC, RBI said.As on October 16, 2022, DICGC has already paid Rs 294.64 crore of the total insured deposits.The RBI has also requested the Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra to issue an order for winding up the bank and appoint a liquidator for the bank.

RBI cancels licence of Yavatmal-based Babaji Date Mahila Sahakari Bank
  • RBI cancels licence of Maharashtra’s Babaji Date Mahila Sahakari Bank in Yavatmal
  • The Indian Express

    The Reserve Bank of India (RBI) Friday cancelled the licence of Maharashtra-based Babaji Date Mahila Sahakari Bank Limited in Yavatmal, citing that the lender did not have adequate capital and earning prospects.According to the data submitted by the bank, the RBI said about 79 per cent of the depositors are entitled to receive full amount of their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC).As on October 16, 2022, DICGC has paid Rs 294.64 crore of the total insured deposits.Amid deterioration in the lender’s financial position, the RBI, on Monday, imposed several restrictions on the bank, including capping withdrawals at Rs 5,000 for customers.Owing to the cancellation of its licence, Babaji Date Mahila Sahakari Bank Limited has been prohibited from providing banking services such as acceptance of deposits and repayment of deposits with immediate effect, among others.While announcing the cancellation of the bank’s licence with effect from the close of business on Friday (November 11, 2022), the RBI said in its order that the bank does not have adequate capital and earning prospects.“The bank with its present financial position would be unable to pay its present depositors in full; and public interest would be adversely affected if the bank is allowed to carry on its banking business any further,” the RBI said.“The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank,” the RBI order added.On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from DICGC.(With inputs from PTI)

Maharashtra CM Eknath Shinde seeks aid to boost infrastructure at meet with ADB
Times of India | 3 weeks ago | |
Times of India
3 weeks ago | |

MUMBAI: Chief minister Eknath Shinde, during a meeting with a delegation from the Asian Development Bank on Monday, appealed for financial support for infrastructure and development projects in the state. Among others, he sought aid for the environment-friendly new Mahabaleshwar project, Mumbai-Sindhudurg coastal highway, linking of rivers and the Nashik, Thane and Pune Metro. Shinde said his government was taking quick decisions to ensure Maharashtra's development. "Priority has been given to agriculture, health, education, employment, infrastructure and employment generation by keeping the common man at the centre. The CM appealed to the ADB to provide financial support to infrastructure projects for the social and economic development of the people of the state. The new Mahabaleshwar project will help in generating employment on a large scale while creating environmental awareness, and the bank should provide financial support to cluster development projects too," a statement from the CMO said. Officials said the discussion covered the project to divert waste water to drought areas and launching of over 5,000 e-buses besides conversion of 5,000 diesel buses to CNG. "ADB expressed satisfaction about the work done," the CMO said.

Maharashtra CM Eknath Shinde seeks aid to boost infrastructure at meet with ADB
  • Eknath Shinde urges ADB to give financial aid for infra projects
  • The Indian Express

    Maharashtra Chief Minister Eknath Shinde on Monday urged the Asian Development Bank to provide financial aid for infrastructure projects in Maharashtra, and also extend support to the development work undertaken by the government for the socio-economically backward communities. A delegation from the ADB, which has been touring the state, met Shinde on Monday.After receiving assistance for the Mumbai Metro project, Shinde has also urged the ADB to provide assistance in Metro projects in Pune, Nagpur, and Nashik. The progress on a number of projects was reviewed during the meeting, and the CM has also stressed on getting aid for the Thane Metro, the Pune Ring Road, and the Nashik and Pune Metro projects, according to a statement issued by the Chief Minister’s Office. The ADB has helped the state in environment-friendly causes such as the conversion of 5,000 state-operated intercity buses to CNG and procurement of 5,150 e-buses for Maharashtra. “We have been working on converting the public transport system to green energy, and require support for this. It will help us in saving nature and curb pollution,” said state Deputy CM Devendra Fadnavis after the meeting.He also took to social media and said, “Various ongoing and in-pipeline projects were discussed during the meeting. Detailed presentations were given on project proposals in Maharashtra, and other such requirements. The presentations were made on various infra projects like that of the Nashik, Nagpur, and Pune Metro. Several projects on medical education, coastal protection, investment management programmes, and PWD were also discussed.”Maharashtra has also sought support from the ADB for various irrigation projects, including the modernisation of old irrigation projects in Khadakwasla, Purna, Palkhed. “We have had a great partnership with the ADB for years now… We need your assistance more for farmers’ cause…,” said Fadnavis.Shinde approaches US for technical support in projectsShinde on Monday also appealed to the United States of America for technical cooperation for developmental projects in the sectors of agriculture, health, education, and energy.The US consul for Mumbai, Mike Hankey, met Shinde on Monday. “The Maharashtra Chief Minister told Hankey that the state government has focused its attention on agriculture, education, health, information and technology, infrastructure, and employment generation. Several projects have been accelerated. Industrial investment is being boosted by the infrastructure in Maharashtra,” said the CMO.

SBI Recruitment 2022: Last date to apply for 1422 posts in State Bank today, Apply here
Times of India | 3 weeks ago | |
Times of India
3 weeks ago | |

The application process for 1422 Circle Based Officer Recruitment in State Bank of India is going to end today on 7th November. Interested candidates can apply through the official website sbi.co.in through the active link by paying a fee of Rs.750/-. The currently ongoing application process for recruitment to the post of Circle Based Officer (CBO) in various circles by State Bank of India is going to end today, 7th November 2022. Interested candidates who have not applied yet can submit their application through the link activated in the career section on the official website of the Bank, sbi.co.in or the application page from the direct link given below. During the application, candidates will also have to pay the application fee of Rs 750 today. However, SC, ST and differently-abled candidates are given complete relaxation in the application fee. Direct link to apply for SBI Recruitment 2022Link to check the official notification PDF released by SBISBI Recruitment 2022: Vacancy details in CBO RecruitmentSBI has released a total of 1422 Circle Based Officer Recruitment in various circles. Maximum 300 vacancies are for North Eastern Circle. There are 175-175 vacancies in Bhopal, Bhubaneshwar, Hyderabad and Kolkata circles. Similarly 200-200 vacancies for Jaipur and Maharashtra Circle. On the other hand, out of the total announced vacancies, 22 are backlog vacancies. SBI Recruitment 2022: Eligibility CriteriaCandidates willing to apply for recruitment to the posts of Circle Based Officers in SBI must be a graduate in any discipline from a recognized university or any other higher education institution. However, candidates having professional qualification like Engineering, Medical, Chartered Accountant, Cost Accountant, etc. will be given preference. Additionally the age of the candidates should not be less than 21 years and not more than 30 years as on 30 September 2022; Candidate must have been born not later than 30 September 2001 and not earlier than 1 October 1992. State Bank has also announced relaxation in upper age limit for reserved categories candidates as per the rules of the Central Government in SBI Recruitment 2022 Notification.

SBI Recruitment 2022: Last date to apply for 1422 posts in State Bank today, Apply here