 |
|
India's first Oceanarium proposed in Coastal Konkan
MORE
[+] |
 |
|
Karnataka Tourism's Website Ranks Sixth, Says Studies
MORE
[+] |
 |
|
Foreigners Allowed to Invest Directly in Equities
MORE [+] |
|
| |
| 04. NEWSMAKER |
| India's first Oceanarium proposed in Coastal Konkan |
| IBEF: November 16, 2011 |
New Delhi: India's first oceanarium project is being considered in Sindhudurg district in Maharashtra with a view to promote marine conservation and give a boost to tourism in the state and regional economy of coastal Konkan. The project estimated to cost around Rs 509 core (US$ 100.39 million), conceived by Science and Technology Park (SATP) at Pune University, is expected to come up at Tondawadi in Sindhudurg.
"Saline water will be pumped out from deeper sea level to cultivate marine culture at the proposed ocenarium which will be spread across 200 acres of land and creeks at Tondawadi in the project aimed at creating conservation awareness and combining it with entertainment", as per Rajiv Jagdale, Director, SATP.
"The venture should be seen as an eco-friendly developmental option for coastal Konkan and we expect the ocenarium to fetch around 35 lakh tourists in the region," said Jagdale, who has recently received a clearance for the project from Mr Prithviraj Chavan, Chief Minister, Maharashtra.
It is anticipated that the Central Government and the Government of Maharashtra are expected to provide Rs 100 crore (US$ 19.73 million) each and the rest of the funding amounting to around Rs 300 crore (US$ 59.18 million) would be channelised through private investors for this project, as per Jagdale.
"We will not be disturbing sea or agriculture land for the project which would be completed in keeping with environmental norms and wildlife protection act. Saline water to be pumped out of sea will be filtered and cleaned to sustain certain species of marine life," he added.
The SATP, an autonomous body under the Ministry of Science and Technology, expects the work on the proposed ocenarium to start by September 2012 and to be completed by within a period of three years.
|
| Rates on non-resident deposits freed |
| Business Standard: December 19, 2011 |
Mumbai: To improve inflow of foreign currency, the Reserve Bank of India (RBI) on Friday deregulated the interest rates that banks would pay on Non-Resident (External) Rupee (NRE) Deposits and Ordinary Non-Resident (NRO) accounts.
RBI said this would provide greater flexibility to banks in mobilising non-resident deposits in the prevailing market conditions. “Banks are free to determine their interest rates on both savings deposits and term deposits of a maturity of one year and above under NRE deposit accounts and savings deposits under NRO accounts with immediate effect,” it said.
The revised deposit rates will apply only to new deposits and on renewal of those that have matured. However, interest rates offered by banks on NRE and NRO deposits cannot be higher than rates offered on comparable domestic rupee deposits. Also, at any point of time, an individual bank should offer uniform rates at all its branches. Currently, banks offer 3.51 per cent on NRE deposits for two-three years and 3.64 per cent for deposits above three years.
RBI said banks may take prior approval of their respective boards or asset liability committees while fixing the interest rates on such deposits. Also, banks have been asked to closely monitor their external liability arising on account of such deregulation and ensure asset-liability compatibility from a systemic risk point of view.
This step comes three weeks after RBI had raised the cap on interest rates on NRE and Foreign Currency Non Residential Account (B) (FCNR-B) deposits by 100 basis points and 25 bps, respectively. “The deregulation provides a good opportunity for NRIs to get attractive rates. We will soon take a decision on revising the rates to tap this route,” said Alok Misra, chairman and managing director, Bank of India.
Indian banks have a network of branches abroad -- in West Asia, the Asia-Pacific, Britain and North America. RBI data shows the deposits in NRE accounts were $25 billion and in NRO accounts, $11 bn, at the end of October.
|
| India to emerge as third largest smart grid market |
| The Hindu Business Line: December 19, 2011 |
Hyderabad: The IEEE Standards Association (IEEE-SA), the standards development body of the Institute of Electrical and Electronics Engineers, predicts India would emerge as the world's third largest smart grid market after the United States and China.
“We are collaborating with technical experts in India to ensure that specific and unique inputs necessary for the Indian market are incorporated into smart grid standards. We look forward to collaborating with industry leaders, academia and other standards bodies to create more awareness about smart grid and the role of standards through events and workshops,” Ms Jennie Steinhagen, Global Strategy Manager of IEEE-SA, SIG, said.
The IEEE-SA set up a Standards Interest Group (SIG) recently to increase India's participation in the IEEE standards process in key areas such as smart grid.
“Without proper standards, the realization of smart grid would be difficult. IEEE-SA is investing in creating awareness and bringing multiple stakeholders together to transfer best practices and knowledge from Smart Grid markets and perspectives,” Mr Srikanth Chandrasekaran, Chairperson of IEEE-SA India SIG, said.
“IEEE-SA has taken a lead role in the identification and development of standards for the smart grid.”
The organisation had also been holding smart grid workshops. “We are also participating in large summits and events to increase awareness among key stakeholders and consumers,” Mr Chandrasekaran said.
|
|
|
| |
|
|
