Friday, January 28News That Matters

Business

DDC Kulgam reviews physical, financial achievements of RDD under District Capex

Business
KULGAM: The District Development Commissioner (DDC) Kulgam, Dr Bilal Mohi-Ud-Din Bhat today chaired a meeting of officers to review the physical and financial achievements of the Rural Development Department under District Capex. During the meeting, the chair was informed that out of 1763 works of RDD under District Capex 1362 were accorded and out of these 1362 works 885 works were tendered. The DDC directed the ADDC to personally monitor all the allotted works. He also instructed to expedite the execution process of works keeping in view the limited working season. The meeting was attended by ADDC, ADC, CPO, ACD, ACR, ACP and other officers. Later, the DDC chaired a separate meeting of officers and reviewed the implementation status of the Forest Rights Act in the district. During the me...

DC Doda for early completion of road to picturesque tourists destination in Bijarni-Lal Draman area

Business
DODA: District Development Commissioner (DDC) Doda, Vikas Sharma conducted an extensive tour to Bijarni area including Sazan and Lal Draman and listened to the issues of the locals and elected representatives, besides taking stock of the ongoing work on the road leading to the area . The DDC directed the R&B to fast track the work on its stretch of around 9 KM by mobilising the contractor and men and machinery to complete it by the end of this year’s working season. He asked to rigorously follow up the forest clearance with the concerned authorities. With regard to Bijarni road, the DDC asked the PMGSY department to complete the left out stretch surveyed by the Defence agency in the past. Meanwhile, the DDC also visited the picturesque Lal Draman area to take the first hand appraisal o...

Cos can incorporate rewards, incentives to achieve environmental, social and governance goals

Business
New Delhi: Companies in India are increasingly focusing on the importance of environmental, social and governance (ESG) issues following the coronavirus pandemic, and their compensation committees can play a crucial role in taking this agenda further, according to global advisory firm Willis Towers Watson. Rewards and incentives could be incorporated in a company’s ESG matrix to achieve the larger agenda, and companies must chalk out a plan that drives the right ESG behaviour in the long term and reward the management for the same, Willis Towers Watson said. “The incentivising achievement of the ESG matrix must be done in a top-down manner. Boards need to set the right expectations for the management and reward them for delivering the desired performance while demonstrating the right behav...

Aditya Birla Health Insurance looks to break even in next fiscal year on strong growth trajectory

Business
New Delhi: Aditya Birla Health Insurance Company Ltd (ABHICL) is likely to break even in the next financial year as the company is growing at a “good rate”, a top company official said. The Aditya Birla Group’s health insurance company commenced its operations in October 2016. “We are focussed on break-even, we want to break even in the next financial year. We are growing at a good rate, and creating a good business. ABHICL grew close to 50 per cent last year and we want to maintain this kind of growth,” ABHICL Chief Executive Officer Mayank Bathwal told PTI in an interaction. He said the company would like to grow at a similar rate of around 50 per cent in the current financial year as well. The company’s gross written premium during April-June 2021 rose 50 per cent to Rs 368 crore. Howev...

Prices of agriculture produce falling down as Centre not paying attention: Pawar

Business
Pune: NCP chief Sharad Pawar on Sunday said the prices of agricultural produce were falling down in the country as the Union government was not paying attention to the problems being faced by the farming community. Speaking at a farmers’ congregation at Junnar in Pune district, he said that when he was the Union agriculture minister for 10 years in the UPA government, he ensured that farmers get good prices for their agricultural produce. “There are several questions before the farming (community) today. The prices of agricultural produce have gone down. People (farmers) are throwing their agricultural produce…even the input cost is not recovered. There is a worrying situation for all,” he said. He added that as the agriculture minister, he had ensured that if farmers get good prices for t...

Supertech to file review petition against SC order; twin towers built as per law: Chairman R K Arora

Business
New Delhi: Realty firm Supertech Ltd on Saturday said it will file a review petition against the Supreme Court order to demolish the company’s twin 40-storey towers in Noida while asserting that the buildings were constructed as per the bye-laws with approval of the competent authority. Last week, the apex court had ordered to demolish the twin 40-storey towers, which are part of the Supertech’s Emerald Court project in Noida, Uttar Pradesh. “While we respect the Hon’ble Supreme Court order, we have decided to re-present the matter before the Hon’ble Supreme Court in a review application as the towers were constructed as per the approval of the competent authority conforming to the Building bye-laws,” Supertech Chairman R K Arora said. He said in a statement that the Apex and Ceyane towers...

J&K Bank Employees Stock Purchase Scheme over-subscribed

Business
SRINAGAR: J&K Bank’s Employees Stock Purchase Scheme (ESPS-2021) has got an overwhelming response from the Bank staff resulting in the over-subscription of the issue. Owing to repeated requests from the staff members, the Bank has extended the issue closing date of the scheme by four days to 7th of September, 2021. Commenting upon the staff response, the Bank’s CMD R K Chhibber said, “Time and again, I feel amazed by the emotional connect and professional conduct of J&K Bank Family towards this beloved institution. And I feel very proud today to have got my belief vindicated again as the staff members have participated whole-heartedly in the scheme and have already surpassed the targeted aggregate amount leading to the over-subscription of issue.” The Bank had launched Employees St...

Sebi asks investors to link PAN with Aadhaar by Sep for smooth transactions

Business
New Delhi: Capital markets regulator Sebi on Friday asked investors to link their PAN with Aadhaar number by September 30 for continual and smooth transactions in the securities market. Failing to comply with this, a person’s Permanent Account Number (PAN) card will become inoperative, which means incomplete Know Your Customer (KYC) details. The development came after the Central Board of Direct Taxes through a notification in February 2020, said the PAN of a person allotted as of July 1, 2017, will become inoperative, if it is not linked with Aadhaar by September 30, 2021, or any other date specified by the CBDT. Since, PAN is the sole identification number for all transactions in the securities market, in view of the CBDT notification, all Sebi registered entities, including market Infra...

Delegation of Sikkim University calls on Director Agriculture Kashmir

Business
SRINAGAR: A delegation from Sikkim University working on a plan to explore the possibilities of Saffron Cultivation in Sikkim today called on Director Agriculture Kashmir, Chowdhary Mohammad Iqbal at Lalmandi here. During the meeting a detailed discussion was held on various issues including Geo climatic conditions of Sikkim, requirement and transportation of saffron corms from Kashmir to Gangtok and other logistic support and expertise to the Sikkim University by the Department of Agriculture Kashmir. The Director assured the visiting delegation of every possible support and help during this entire venture which is being implemented by the Sikkim University in collaboration with Agriculture Production and Farmers Welfare Department. He asked the delegation that a multidimensional approach...

Dazzling Indian equities may lose sheen on lofty valuations; steep correction likely: Analysts

Business
NEW DELHI: Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month. From sailing past the 54,000 mark on August 4 to touching 58,000 level within a month, the rally in the benchmark BSE bluechip index has reflected the strong stock market sentiment. It took just seven months for the Sensex to cover the journey from 50,000 in January to scale the 57,000 mark for the first time on August 31. The winning run is continuing in the equity market as the benchmark scaled t...