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Financial Management

Rs 50 crore budget provision proposed for capping garbage dump

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The Times of India        23.12.2010

Rs 50 crore budget provision proposed for capping garbage dump

PUNE: The civic administration has proposed a provision of Rs 50 crore in 2011-12 civic budget for capping the Phursungi-Urali Devachi landfill site.

In the proposal placed before the City Improvement Committee (CIC), the civic administration has stated that the PMC has made a provision of Rs 21 crore in the budget for current financial year.

"The Detailed Project Report (DPR) on the capping has been submitted by Infrastructure Leasing and Financial Services (IL& FS). As per the DPR, a provision of Rs 89.76 crore is required for the capping. Also, the PMC needs to make a provision of around Rs 1- 1.5 crore every year for its maintenance," stated the civic administration.

The PMC plans to float a global tender for the capping on the lines of Gorai landfill site in Mumbai, which was capped after a global tender was floated two years ago.

The total area of the twin landfill sites at Phursungi and Urali Devachi is 165 acres, of which the Hanjer processing plant occupies 65 acres and three acres are occupied by the carcass plant. Eleven acres were capped a few years ago and 50 to 55 acres of garbage-filled land remain to be scientifically capped.

Capping prevents groundwater contamination by stopping rainwater from percolating through buried garbage, which creates leachate, a liquid by-product of the waste. Scientific capping comprises bio-mining, cutting off drains, provision of geo-membrane, methane gas trapping and reduction and compacting of garbage height.

On June 1, the civic body had claimed that it had completely stopped open dumping of garbage, as promised to the villagers of Urali Devachi. The villagers were protesting against open dumping of waste and were assured by the PMC that it would cease from June 1, 2010.

 

‘Urban coop banks ready to help SHG movement'

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The Hindu       20.12.2010

‘Urban coop banks ready to help SHG movement'

Staff Reporter

Offers aid to SHG members at 12 per cent interest if NABARD refinances at 8 per cent

Over 1,000 SHG members given aid under a pilot scheme


ONGOLE: The urban cooperative banks in the State with their branches are ready to step in to reach credit to needy members of Self Help Groups(SHGs) at a “very reasonable rate of interest'' and rerail the SHG movement in the State.

Informing this to reporters here on Sunday, Andhra Pradesh Urban and Town Cooperative Banks Association president and member of the Task Force on Cooperative Urban Banks in the State Manam Anjaneyulu said the crisis that had gripped the micro-finance sector had forced SHG members to go to private money lenders who charged more than 50 per cent interest.

Enthused by 100 per cent recovery of loans advanced to SHG members in Leguntapadu under the Kovur Bhagyalakshmi Podupu Sangham(KBPS) by the Visakhapatnam Cooperative Bank(VCB), Mr Anjaneyulu, also its chairman, said: “We(UCBs) are ready to offer micro loans to SHG members at 12 per cent interest if the NABARD provides refinance at 8 per cent interest as in case of MFIs''. Under a pilot scheme, the VCB through the KBPS had provided Rs 2.08 crore as loan to 1,082 members of 180 SHGs for “productive purposes'' after verification by VCB staff of viability of the economic activities undertaken by the SHGs concerned. “Small savings culture is very much visible in these parts'', said Mr Anjaneyulu . “The KBPS took the responsibility for recovery of the loans advanced'', he explained, adding “this successful model can be replicated in other parts of the State as well.”

SHG members in five more panchayats in Kovur mandal had approached the VCB for micro-finance, he added.

“We have drawn the attention of NABARD officials to the success of the pilot programme'', said Mr Anjaneyulu, who is also Director of the National Federation of Urban Cooperative Banks and Credit Societies. Nationalised banks should also provide credit to SHGs through healthy cooperative institutions, including UCBs.

Under no circumstances, the interest rate charged by MFIs should have crossed 18 per cent, he felt.

The loss-making Ongole Urban(OUCB) Cooperative Bank will function in the new year as Visakhapatnam Cooperative Bank(VCB), with the Reserve Bank of India giving green signal for its merger with the latter.

Mr Anjaneyulu said “all formalities are being completed and the 108-year-old OUCB will start functioning from January-end as VCB''

“Now we are going to submit merger scheme to the RBI this week for taking over Tirupati-based Sri Balaji Urban Cooperative Bank'', VCB executive director Chalasani Ragavendra Rao said.

 

Urban bank to revive transactions

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The Hindu      16.12.2010

Urban bank to revive transactions

Staff Reporter
It stops operations from March 12, 2005, following RBI directive

RBI lifts moratorium imposed on it

Deposit mobilisation to be launched afresh


BHIMAVARAM: The Bhimavaram Cooperative Urban Bank is poised to revive its transactions after a five-year lull, thanks to the lifting of moratorium by the Reserve Bank of India (RBI). Bank chairman Mantay Padmanabham on Wednesday said the bank would shortly resume its operations.

The RBI stalled the bank's transactions by way of imposing a moratorium on March 12, 2005 in the wake of alleged diversion of funds to the tune of Rs. 22 crores by the then management of the urban bank for investment in Vasavi and Charminar Banks which were closed following the allegation of misuse of public funds. The action of the urban bank triggered widespread protest among its customers leading to a long-drawn agitation for getting back their deposits.

The RBI issued orders for lifting of the moratorium on Wednesday, permitting the bank to go in for deposit mobilisation and credit advancement afresh. Mr. Padmanabham said the bank would strive to clear payment of pending deposits to its customers shortly with the help available under the revival package offered by the RBI.

Revival package

The depositors already got back their amounts to the tune of Rs. 46 crores under the RBI's revival package while another Rs. 30 crores was still pending payment.

Mr. Padmanabham said that Rs. 11-crore cash reserves remaining with the bank would be utilised for payment of deposits within a few days.

 


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