Investment Clearance for Bihar Project

The Planning Commission has given investment clearance of the scheme “Anti-erosion work consisting of construction of Retired Embankment (3.50 km) with one No of Anti Flood Sluice and ten nos of submerged bed bars (21m x 9m) on left bank of Ganga river from Chharamari to Jhabbutola under Kathihar district of Bihar” at an estimated cost of Rs.998.34 lakh.

The project shall be completed by the financial year 2012-13 and Plan accounts would be closed by 31st March 2013. Project may accordingly be executed as per the approved outlays in the State Annual Plan. The State Government of Bihar would restrict the expenditure to the approved cost and no additional expenditure beyond approved cost may be permitted.

For ensuring safer passage of flood water through villages as well as intra village and inter village drainage of flood water the State Government should provide non return valves at suitable locations of the flood embankment so that flood water from country side may discharges into the main channel. Work may also be done to strengthen local drainages within villages. MGNREGA funds may be used for this purpose as this is a permissible activity under the recently issued Operational Guidelines. Regular maintenance should be ensured by State Government before and after each monsoon season and even during execution of works.

Source - PIB

E Governance in DRTs/ DRATs

Department of Financial Services , Ministry of Finance is considering implementation of e-governance in the Debt Recovery Tribunals (DRTs)/Debt Recovery Appellate Tribunals (DRATs) for which the services of National Institute of Smart Governance (NISG) are being utilised as Consultants. The representatives of NISG have studied the systems in the DRTs/DRATs and the Departments is in the process of issuing Request for Proposals (RFP) and the implementing Agency will be finalised shortly. With the implementation of e governance project, all processes in these Tribunals will be computerised. The system would involve registration of the applicant and on line submission of applications/all documents by the registered applicants, on line issue of notices, orders and e auctions. The system would also provide for hearing of cases through Video Conferencing, where ever required.

Source - PIB

Auction for Sale of Government Stocks

Government of India have announced the sale (re-issue) of (i) “8.19 percent Government Stock 2020” for a notified amount of Rs. 4,000 crore (nominal) through price based auction, (ii) “8.33 percent Government Stock 2026” for a notified amount of Rs. 7,000 crore (nominal) through price based auction, (iii) “8.28 percent Government Stock 2032” for a notified amount of Rs. 2,000 crore (nominal) through price based auction; and (iv) “8.83 percent Government Stock 2041” for a notified amount of Rs. 2,000 crore (nominal) through
price based auction. The auctions will be conducted using uniform price method. The auctions will be conducted by the Reserve Bank of India, Mumbai Office, Fort, Mumbai
on August 03, 2012 (Friday).

Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

 Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Negotiated Dealing System (NDS) on August 03, 2012. The
non-competitive bids should be submitted between 10.30 a.m. and 11.30 a.m. and the competitive bids should be submitted between 10.30 a.m. and 12.00 p.m.

The result of the auctions will be announced on August 03, 2012 and payment by successful bidders will be on August 06, 2012 (Monday).

The Stocks will be eligible for “When Issued” trading in accordance with the guidelines on ‘When Issued transactions in Central Government Securities’ issued by the Reserve Bank of India vide circular No. RBI /2006-07/178 dated November 16, 2006 as amended from time to time.

Source - PIB

India Post Announces Special Discount of 6.5% on Gold Coins for Raksha Bandhan

For this Raksha Bandhan, India Post has announced a special discount of 6.5% on purchase of Gold coins.

On 1st August 2012 any customer who buys gold from identified Post Offices in Delhi will get a special 6.5% discount of the day`s retail price on all denominations.This offer

is available in all 31 Post Offices of Delhi indentified for the sale of Gold Coins.

These gold coins bear unique logo of India Post and are available in denominations of 0.5 gms, 1gms, 5gms, 8gms, 10gms, 20gms & 50gms for sale across counters at select Post Offices. These coins are having purity rating of 24 karat 99.99% from Valcambi, under Swiss certification and are available in tamper-proof packaging having benefits like internationally recognized certification, low risk of duplication, quality packaging, product standardization and numbering with assayer certification.

Source - PIB

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