Saturday, January 11, 2014

Trident Group first corporate to pay salaries via Aadhaar Payment Bridge

Representational image of Aadhar. Reuters
FP 3 mts ago

New Delhi: Diversified business house Trident Group would become the first corporate to use Aadhaar Payment Bridge (APB) for disbursal of salaries to its employees.
"The Trident Group would launch the facility of Aadhaar-linked disbursal of salaries of its employees on Monday at Yojana Bhawan in the capital," a source in the know of the development said.
The facility would be launched in the presence of Planning Commission Deputy Chairman Montek Singh Ahluwalia and Unique Identification Authority of India (UIDAI) Chairman Nandan Nilekani.
Representational image of Aadhar. Reuters

Trident is the diversified business group which is into many sectors including chemical, paper, energy, information technology and textile. The group has an employee head-count of 10,000 people according to information provide on its official website.
APB is a system that facilitates seamless transfer of payments to Aadhaar Enabled Bank Account (AEBA). It is a payment gateway platform created by National Payments Corporation of India.
The APB was used for the first time on 1 January 2013, when Direct Benefit Transfer was launched by central government for disbursal of entitlements.
Aadhaar numbers leveraged implementation of several central and state government programmes, including 28 Direct Benefit Transfer (DBT) schemes for central sector in 121 districts, and DBT for Liquefied Petroleum Gas (DBTL) in 184 districts.
UIDAI issues Aadhaar to residents which a unique number and could be used as proof of address as well as identity by the service provides in public as well as private sector like banks and telecom companies. It has issues as many as 51 crore Aadhaar numbers so far.
As per government data, over four crore Aadhaar numbers holders in the country have linked their bank accounts with Aadhaar to take advantage of the Aadhaar enabled payment services (AEPS).
As many as 156 banks, including a number of co-operative and rural banks, are currently participating on APB platform.
PTI

RBI deputy guv appointment hits FinMin wall






 B S  :Manojit Saha  |  Mumbai  January 11, 2014 Last Updated at 00:46 IST


Traditionally, two of four deputy governors are promoted from within ranks of RBI

The appointment of a deputy governor (DG) in the Reserve Bank of India (RBI) has hit a hurdle, with the finance ministry conveying its reservations on the name proposed by the search panel.

A search committee headed by RBI Governor Raghuram Rajan had called all nine executive directors (EDs) of the central bank for an interview. 

Eight of them appeared; S Karuppasamy, an ED in charge of urban banks and information technology, declined.

 Sources indicate the panel recommended a fairly junior ED on the list. Though seniority is not the criterion, it appears top ministry officials have questioned the need to go so far down. 

Among the EDs, G Gopalakrishna, who looks after the banking supervision department, is the seniormost.

Top ministry officials met the RBI governor recently to convey the view and how to break the impasse.

One of the four DG posts  would fall vacant on January 18, when Anand Sinha retires. He is coordinating the process for issue of new bank licences and is likely to be redesignated officer on special duty, to guide its completion. Apart from banking operations and development, Sinha also looks after non-banking supervision and urban banks risk monitoring, among others.  He became a DG in January 2011, for a two-year term.

A DG can be appointed for five years or till the age of 62, whichever is earlier. To be eligible, one needs to be less than 60 years. However, there were instances when both conditions were relaxed.

The central bank has four DGs. Traditionally, two are promoted from within the RBI ranks, another is an economist and the fourth from among commercial banks. The other DGs now are K C Chakrabarty, H R Khan and Urijit Patel.

Chakrabraty was a commercial banker; he will retire in June, after completing five years in RBI.

Khan’s three-year term will get over in July and he is eligible for a two-year extension.

Mumbai airport’s world-class T2 ready for inauguration

A six lane elevated road will lead passengers from the Western Expressway to T2 cutting down on travel time. When fully functional domestic flights too will be shifting to the terminal.
by FP Staff Jan 10, 2014
After missing several deadlines in past three years and incurring over 32 per cent cost escalation, the new international terminal (T2) at the Mumbai airport is all set to be inaugurated today, promising to provide fliers a whole new experience with its features.
The financial capital can now boast of an airport at par with the best in the world, from gardens and fountains to multilevel car parks, the T2 at  GVK Chhatrapati Shivaji International Airport has much to show off.
Chanderbhan Manwani, Project Head- Senior Vice President GVK told CNBC- TV18, "This airport has set its own benchmark. People will measure other airports in comparison with Mumbai now."
Prime Minister Manmohan Singh will dedicate the terminal, a spanking four-storey glass marvel, whose design has been inspired by a dancing peacock, to the nation. However, the actual operations at the terminal is likely to commence from February. Earlier, the operation was to start from this month itself.
The T2 has come up at a whopping investment of Rs 9,800 crore as against initial projection of Rs 7,452 crore. The sprawling premises boasts of tens of thousands of
artifacts and paintings, housing arguably one the largest collections in the world at an airport. The most attractive feature of the swanky terminal is the
museum of artifacts.
A six lane elevated road will lead passengers from the Western Expressway to T2 cutting down on travel time. When fully functional domestic flights too will be shifting to the terminal. Pic: CNBC-TV18

Stretching along a 3-km art wall, the museum houses over 7,000 artifacts collected from over 1,500 artists across the country.
With 272 skylights covering over 30000 sq. m the Head House Roof resembles a diamond studded jewel. Glass curtain walls and multi-level light wells provide ample natural light while the 77,000 plants of 80 species reduce solar heat gain.
Designed by Sandeep Khosla and Abu Jani, the 946 handcrafted chandeliers at T2 though have procured from Czech Republic are inspired by the lotus flower. But it is the 3 km art wall that is sure to draw the most eyeballs. Over 1500 artists have put together this display called the Jaya He program.
The inauguration ceremony will be attended by political heavyweights like NCP President and Union Minister Sharad Pawar, Civil Aviation Minister Ajit Singh and Maharashtra Chief Minister Prithviraj Chavan.
Top brass from Mumbai International Airport (MIAL) and Union Heavy Industries Minister Praful Patel, during whose tenure as Aviation Minister the decision to privatise Delhi and Mumbai airports was taken in 2006, will also be present. Spread over an area of a little over 4.39 lakh square meters, the T2 has been designed to cater to an estimated 40 million passengers annually. One of the country's busiest airports currently caters 32 million passengers a year.
Under the privatisation policy of UPA-I Government the Delhi and Mumbai airports were given to private parities for modernisation in 2006.
While a GVK-led consortium bagged the contract for Mumbai airport, the Delhi airport went to a GMR-led entity. Even after privatisation, the state-run Airports Authority of India hold 26 per cent stake each in these two airports.
The state-of-the-art T2 will be larger than Singapore's Changi T3 (3.80 lakh sqm) and London's Heathrow T5 (3.53 lakh sqm). It will be able to accommodate 9,900 passengers during peak hours. It has a 7-lakh sq ft area of retail space, lounges and travel services.
The Rs 12,500-crore modernisation and development work of the Mumbai airport actually began in 2008 and was scheduled to be completed in 2010.
Of the four-level terminal, level 1 will be used for ground transportation and 2 for arrivals. Level 3 will have domestic security and retail space, while level 4 is meant for common international and domestic check-ins, international security and retail.
As far as facilities are concerned, the terminal will have 188 check-in counters, 60 immigration sites for departing passengers and 76 immigration counters for incoming fliers. Also, passengers will have access to 47 escalators and 73 elevators. The facilities also include 52 boarding gates, around 11,000 seats, 101 toilets, 44 travelators, 16 lounges, and 10 baggage carrousels, among others.
The multi level car park is another feather in its cap. Space for over 5,000 vehicles, the 9 storeyed car park is one of the biggest in the country.
"There are three floors underground and six floors overground in the car park, the roof of the car park has a green space that is the largest open garden in Mumbai," Manwani told CNBC-TV18.
From 2300 CCTV cameras to a Fire Alarm System that comprises of 70,000 detection devices with 400 km of cables along T2 to the security check in counters being placed even before the immigration area, great stress has been laid to ensure safety and security at T2.
SN Subrahmanyan, Senior VP(Infrastructure & Construction), L&T TOLD cnbc-tv18,"There are 3000 cameras, hundreds of cables and one can go on with the statistics."
With inputs from PTI

The Spirit of J R D Tata : “When you work, work as if everything depends on you. When you pray, pray as if everything depends on God”




Quotes  :

“When you work, work as if everything depends on you.
When you pray, pray as if everything depends on God”


The Life and Times of  J  R  D  Tata  :
J. R. D. Tata was inspired early by aviation pioneer Louis BlĂ©riot, and took to flying. On February 10, 1929, Tata obtained the first pilot licence issued in India. 
He later came to be known as the father of Indian civil aviation. 
He founded India's first commercial airline, Tata Airlines in 1932, which became Air India in 1946, now India's national airline.
He and Nevill Vintcent worked together in building Tata Airlines. They were also friends.
He joined Tata & Sons as an unpaid apprentice in 1925. 
In 1938, at the age of 34, JRD was elected Chairman of Tata & Sons making him the head of the largest industrial group in India. 
He took over as Chairman of Tata Sons from his uncle Nowroji Saklatwala. 
For decades, he directed the huge Tata Group of companies, with major interests in Steel, Engineering, Power, Chemicals and Hospitality.
He was famous for succeeding in business while maintaining high ethical standards - refusing to bribe politicians or use the black market.



Books on  J R D Tata : 



Authored By: Gita Piramal
Publisher: Penguin (2000)  




Go Ahead : " A thousand disappointments in the past can not equal the power of one positive Action right Now. Go Ahead & Go for it."



Go Ahead : " A thousand disappointments in the past can not equal the power of one positive Action right Now. Go Ahead & Go for it."