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| Sunday, November 5, 2000, Chandigarh, India   
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New strategy to reverse fall in growth rate:
FM Honda to set up
700 cr export base in Gurgaon Don’t deploy direct
sales agents: RBI No takers for raw wool China casts dark shadow on
industry |
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Ombudsman gives clarion
call to fight corruption PSEB taking loans
to pay salary: Sohal Indian
Oil, Petronas extend cooperation After PAN, now CIN for
companies Ind Swift net spurts 33 pc
Insist on right thing at real price
Bona fide need Ans:- Delhi H.C. in Smt Ramni Sehgal v A.M. Siddiqui (2000 (2) RCJ 108) took the view thus.
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New strategy to reverse fall in growth rate:
FM NEW DELHI, Nov 4 — The government will focus on containing fiscal deficit, increase exports, speed up the second phase of reforms and ensure a transparent public administration as part of its four-prong strategy to reverse the fall in growth rate in the first quarter of the current fiscal year. The Union Finance Minister, Mr Yashwant Sinha, spelt out these measures at a seminar on ‘‘Civil Services and the Constitution’’ here. The Minister said growth rate during the first quarter was pegged at around 5.8 to 6 per cent, as against the 7 per cent in the corresponding period of the previous year and this was a matter of concern. However, the positive aspect he said was that even on a growth rate of 5.8 to 6 per cent there was concern and this showed that the expectations have gone up. Mr Sinha said the reforms would try to achieve the twin objective of pushing up growth rate and at the same time meet other social objectives like eliminating poverty and generating more employment. Emphasising on increasing exports, the Minister said India has to explore new markets for its products in the international arena. Mr Sinha said the Government would carry out the reforms process in the right earnest and would introduce the Fiscal Responsibility Bill in the Winter session of Parliament. ‘‘We also have to ensure transparent public administration’’ he said adding the people were not going to be satisfied with slogans and assurances. The goods have to be delivered as fast as possible. He said a Constitution Review Commission would be set up to suggest major changes in legislations in order to improve the functioning of the government.
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Honda to set up
700 cr export base in Gurgaon NEW DELHI, Nov 4 — Haryana is expected to witness a spurt in investment to the tune of several hundred crores in the coming months with several leading companies from South East Asia expressing their eagerness to invest in the state. Honda Motors has proposed to set up Rs 700 crore export based station for South Asia in Gurgaon. This will be an addition to Rs 500 crore project in the same location to manufacture two-wheelers. Suzuki Motors has agreed to set up Rs 200 crore die casting unit at Manesar, Haryana and also to expand existing production in Gurgaon to 600,000 units. While Hanjung of South Korea is exploring the possibility to develop Yamuna Nagar power project, YKK would be making further investment of Rs 82 crore in the existing plant in Bawal and convert it into export base. MITI in Japan has set up three working groups in the area of information technology, infrastructure and food processing to promote cooperation with India. Jurang Town Corporation International has agreed to become investor and consultant in power project for dedicated power supply for Gurgaon-Manesar industrial estate. The PHDCCI president, Mr K. S. Mehta, who headed a delegation to South East Asian countries, said Japan, South Korea and Singapore beset with recession were looking at India as an attractive investment destination. However, they would like certain bottlenecks such as cumbersome infrastructure deficiencies clearance procedures and local development taxes to be removed, he added.
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Don’t deploy direct
sales agents: RBI CHANDIGARH, Nov 4 — Following a significant direction issued by the Reserve Bank of India, the commercial banks in the region are expected to make additional recruitments. This, it is apprehended , may also lead to increase in the expenses of the banks. Reportedly, RBI ,has recently directed all the commercial banks including regional rural banks not to deploy any direct sales agents for the mobilisation of
deposits." It has come to our notice that some banks have appointed direct sales agents through certain companies after entering into an agreement with them for mobilisation of
deposits. These agents are entrusted with a variety of other functions such as, soliciting new applicants, completion of account opening formalities including collection of photographs, filled forms and proof of residence, witnessing, notorising etc.", stated RBI. The banks are prohibited from paying brokerage on deposits in any form to any individual, firm, company , association, institution or any other person as per the earlier directive of December 1985 and September 1986. After noticing that the commercial banks in the region are deploying direct sales agents, who are not the employees of the banks, the RBI has once again instructed the banks to stop doing the same. The incidences of frauds by such agents are also
more." Since this is not a step in the interest of the customers, RBI has prohibited the banks from the
same", the official added. With this, the facility which the commercial banks are offering these days of sending agents or person from the bank to the customer who wants to open his account with the bank, may either have to be withdrawn or new appointments will have to be made in order to continue the facility, which had got popular mainly with the privatisation of the banking sector. "We have, at present stopped sending any such agents and rather are sending our own employees to the customer. However, earlier while more people were there and could reach out to more customers, now due to scarcity of people the customers are
suffering", said an official from a private bank on the condition of anonymity. Mr Anand Kumar , Vice-President and Regional Head Retail Banking, ICICI Bank said that the bank is in the process of making new
recruitments." More people will have to be recruited if the bank wants to continue with this
service.However,we have not assessed the costs for the same ", he said. When asked about the costs incurred on the direct sales agents, Mr. Anand was evasive. The direction by the RBI is in the interest of the customer , say bankers Mr G.S. Channi, Centurion Bank said, "The direction will ultimately be beneficial for the customers as well as the banks themselves. Incidences of frauds are likely to be reduced after this and there will be healthy competition".
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No takers for raw wool SHIMLA, Nov 4 — There are no takers for the 110 tonnes of raw wool worth about Rs 50 lakh which is on the verge of getting destroyed in the stores of the state government-owned wool federation. The wool was procured from the sheep rears between October, 1998 and March this year. However, further procurement was stopped as there were no buyers for the raw wool stacked in the stores at Palampur. The federation has now invited open bids for disposal of the stocks on November 8, but sources said the response was poor and there was every possibility of the raw wool being dished out at a throwaway price. The Khadi ashram, which has been the major buyer of the raw wool by lifting about 800 quintals every year, has pulled its hands this time as its sales steeply declined to Rs 2 crore during 1990-2000 against Rs 2.97 crore in 1997-98. It is being said the huge stocks of woollen goods worth about Rs 3.07 crore were lying unsold in the godowns of the ashram. The federation has been procuring raw wool from the sheep rears mainly in the Kangra district in all the three clipping seasons. However, the better quality was being sold to the hosiery units of Ludhiana directly by the rears, while the inferior one was given to the federation where the activities were on political considerations. Moreover, the federation allegedly purchasing wool at a much higher price than its counterpart in the neighbouring J and K where the price was fixed at Rs 36 per kg against Rs 58 per kg in Himachal Pradesh. Even at lesser price, the quality of raw wool in J and K was reported to be better. There was no procurement policy of raw wool in HP. The government price last year was fixed at Rs 63 per kg, while this year the price was fixed between Rs 25 and Rs 45 per kg on the basis of the staple length. The liberalised textile policy is bound to further create problems for the federation as the price of the far better quality Australian wool has been slashed to almost half. The same is the scene with the angora wool on which the excise duty has also been considerably cut. The manufacturers of woollen garments will now prefer to import the raw material rather than utilising the domestic produce which was shorter in length and was considered useful for tweed and carpets. With great difficulty, the federation has been able to finish its stocks of angora wool which was procured at a higher rate of Rs 925 per kg (A grade) in 1998 when the market price was Rs 850 per kg. The rabbit rearers preferred to sell their clips to the federation which paid a higher rate than what was prevalent in the open market. |
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China casts dark shadow on
industry PROTAGONISTS of economic reforms are now turning antagonistic. CII which was the most pro reform vocal industrial body is now asking for some protection to the industry. Other national organisations like FICCI are also joining this trend. Such a stand a decade back could be dubbed as backward. China is casting its dark shadow on our industry. Our industry is proving unequal to face this challenge both on price and quality aspects. What are the facts? Imports from China are swamping our markets. Such imports had registered a growth of 21 per cent last fiscal and have shown a growth of 43 per cent during the first quarter of this fiscal. These products are being sold at phenomenally low prices. There are apprehensions that Chinese goods are being dumped. There are two opinions on onslaught of cheap Chinese goods. In reality China is able to produce cheap products because it has better control on policies and their implementations. In China itself colour TV of 29” size is selling at Rs 10,000 which is half the price our manufacturers are charging. One reason for cheaper production is better infrastructure and lesser hassles. For instance in China freight moves at speeds of 70 to 80 km per hour unhindered. In our case apart from lower speed goods cannot move without official interceptions at various points. Cost of capital and other inputs is lower in China compared to what our industry has to pay. Labour in China is much more committed to this job compared to our labour. Chinese exports to advanced countries is remarkable. China sells 22 times as many shoes to the West as all its competitors put together. Chinese exports are penetrating in many countries due to its competitive products. Its trade surplus vis a vis the USA is comparable to our total export turnover. Its share in the world trade is 4 per cent against India’s 0.6 per cent. If we go by volumes, Chinese imports in our country are not large by any standard. The USA and EU are having double digit share in India’s non oil imports against China’s 3.0 per cent share. But there is some catch to explain industry’s cry against Chinese imports. China is not the member of WTO. It has some secret agreement with the USA. So is the case with India. There has been no debate on the secret agreement with China due to strategic reasons. When the imports from China are harming our industry rethinking becomes necessary. It is understood that China has extended guarantees on voluntary export restraints both to the USA and India. There is difference in two cases. Chinese imports into the USA are closely monitored. This is not so in our case. Chinese goods are entering through Nepal, Myanmar (Burma) and Bangladesh. Unofficial imports have naturally to be cheaper and as per complaints quality of products is also sub-standard. In view of this trade threats we have to reconsider our agreement with China in exchange of our support to its entry into the WTO. We have to police our borders more effectively. Even treaty with Nepal needs modifications. Anti dumping mechanism has also to be made more effective. Cases of dumping have to be decided within 60 days after the launch through a formal initiation notification. In practice it takes much more time. In the USA provisional anti dumping duty is imposed within 45 days. State governments and industrial bodies have to play vital role in getting the dumping case made fool-proof.
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Ombudsman gives clarion
call to fight corruption CHANDIGARH, Nov 4 — Canara Bank Circle Office Chandigarh, as a part of observance of Vigilance Awareness week, arranged a meeting in which Banking Ombudsman Mr Khizer Ahmed was the chief guest. Mr Khizer said that there are three enemies of national development namely population, inflation and corruption. To some extent we have been able to tackle the first two problems, but the third enemy still remains rampant in our society. We must eradicate this evil to join the comity of developed nations. Mr K. Raghunath, General Manager, Canara Bank, Chandigarh circle in his address said that corruption is not only abusing one’s official position for pecuniary gains but it also encompasses fraud — which is the twin brother of corruption and not discharging one’s duties sincerely to the institution and society. He called upon the employees to be loyal and honest to the Institution. Mr G. Narayanamoorthy, DGM also spoke.
SBI A workshop on preventive vigilance was organised at SBI Staff Training Centre, Karnal in which branch managers of branches in Haryana participated to mark the conclusion of Vigilance Awareness Week in SBI Chandigarh Circle. Mr B.K. Bhalla DGM (Vigilance) presided over the workshop. SBP The State Bank of Patiala has observed “Vigilance Awareness week” which concluded today in all the offices/branches of the bank. Mr K. Balachandran, GM (Vigilance) said that all the employees working in Head Office of the bank took pledge for eradication of corruption in all spheres of life and to remain vigilant. |
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PSEB taking loans
to pay salary: Sohal CHANDIGARH, Nov 4 — The financial condition of the PSEB is precarious and the board is taking loans to pay salaries of its employees. This was stated by Mr G.S. Sohal, Chairman, PSEB at an interactive session with the CII, Punjab State Council, here today. Mr Sohal said theft of power was rampant among all categories of consumers — agricultural, domestic, commercial and industrial — and it was impossible for the board to operate efficiently in this scenario. Mr Sohal agreed to CII's suggestion that the revised monthly minimum charges would be effective from the date these were hiked i.e. August 1 and not from October 1. Mr S.P. Oswal, Chairman, CII, Punjab State Council, said in today's competitive environment wherein industry had to compete globally, the PSEB should allow industry to go in for captive power generation without any conditionalities. Mr Sohal was accompanied by Mr Kirpal Singh, Mr A K Kundra and Chief Engineer J.S. Grewal. |
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Indian
Oil, Petronas extend cooperation NEW DELHI, Nov 4 —
Malaysia's Petronas and Indian Oil Corporation Ltd have agreed to extend the existing Memorandum of Collaboration for a period of another five years. The existing Memorandum of Collaboration, which was signed on February 24, 1996 is due to expire on February 2001. The two companies had earlier agreed to collaborate on wide areas in the hydrocarbon sector covering exploration and production, refining, petrochemicals and chemicals, LPG, lubricants, LNG, R and D, training and consultancy. The Memorandum of Collaboration was signed by the visiting Chairman of Petronas, Tan Sr Datuk Azizan Zainul Abidin and his counterpart in the IOC, Mr M.A. Pathan. Mr Pathan said both the Fortune global 500 companies are working hand in hand to fructify joint collaborative efforts for mutual benefit. On the occasion of signing of Memorandum of Extension of existing collaboration, both the organisations expressed satisfaction on the initiatives taken during the last five years. |
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After PAN, now CIN for
companies MUMBAI, Nov 4 (PTI) — After the successful introduction of Permanent Account Number (PAN) by the Income Tax Department for individual and corporate tax payers, the Department of Company Affairs has followed suit by unveiling a corporate identity number
(CIN) for registration of companies. The 21 digit CIN has been designed by the Centre for Monitoring Indian Economy to help easy identification of companies belonging to a particular state, type of industry, its ownership and age, according to CMIE director Mahesh
Vyas. Addressing newsmen here today, DCA Secretary P.L. Sanjeev Reddy said CIN has been introduced with effect from November 1 for new companies while the
existing ones would be given their number from the new year. |
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Ind Swift net spurts 33 pc CHANDIGARH, Nov 4 — The net profit of Ind Swift Ltd. (ISL), a pharmaceutical company of North India has shown an increase of 33 per cent in its net profit and 41 per cent increase in turnover for the second quarter of the current year as compared to corresponding quarter of the previous year according to the results declared by the company for the same period. The turnover of the company for the quarter ended September 30 is Rs 2703.8 lakh as against Rs 1916.65 lakh for quarter ended September 30, 1999. The net profit for this second quarter is Rs 187.78 lakh as against Rs 141.19 lakh. Mr S.R. Mehta, Managing Director Ind Swift Limited informed that the overall performance of the company has improved significantly. During the year 1999-2000, the turnover of the company has increased by 28 per cent. Dr G. Munjal, Joint Managing Director ISL informed that the company is targeting the foreign market. |
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by Pushpa Girimaji Insist on right thing at real price WE may have one of the best laws in the world to protect consumers, but that has not brought about any change in the status of the consumer in this country. By and large consumers continue to have a raw deal, whether they are buying goods or hiring services. Take this case of a consumer who purchased a piece of glass for a table top. He says he was looking for a brown coloured float glass with a thickness of 12 mm and the retailer who took his specifications on size, thickness, colour and the brand, said he would have the glasscut and delivered by 6 pm. It was, however, delivered only the next day and without any bill specifying the quality and the size of the glass delivered. The deliveryman carried only a small piece of paper on which was scribbled the amount that the consumer was required to pay. The consumer says he had to personally visit the shop the next day to collect the receipt from the shopkeeper, who was most reluctant to give it. That would perhaps have been the end the transaction, if the consumer had not measured the thickness of the glass delivered. To his utter surprise, he found that he was given a glass of 10 mm thickness for the price of 12 mm. There was also no marking or brand name on the glass and this also made the consumer suspicious of the quality of the glass delivered. When the consumer complained about the thickness, the retailer promised to send someone from his shop to have it checked up, but none came, says the consumer. Eventually the retailer admitted to having sent a glass of 10 mm thickness, but said it was a mistake committed by the workers. It took the consumer several trips to the shop and innumerable telephone calls to finally have the glass replaced. This time the thickness was right, but the brand name was not the one specified and the glass had stains that would not go away. Says the consumer: ‘When I insisted on a particular brand, the dealer had assured me that he did not deal in any other brand and so I would get what I wanted. But here again, he was obviously bluffing because he did send me another brand. Now despite several complaints, he has not replaced the glass’. He now wants to know how to deal with the retailer. Well, the retailer can be proceeded against for unfair trade practice, for selling a defective product and providing a deficient service. The consumer should say this in a letter to the dealer. He should also inform him of his intention to seek redress through the consumer court if a proper replacement is not sent within 24 hours. It is also not out of place to indicate the expenditure incurred in trying to get a defect-free glass of his specification from the dealer and ask him to pay that amount. This should bring the retailer to his senses. If even this fails, then the consumer should file a complaint before a District Consumer Disputes Redressal Forum. Besides the bill, what would help strengthen the case here is the glass company’s price list. The consumer should show in the complaint, the difference in price between the glass of 12 mm and 10 mm thickness. If there is any difference (in price or quality) in the brand that the retailer sent and the one that the consumer had specified, that should also be shown. It might also be worthwhile to find out whether the glass delivered the second time was of ‘second’ quality. While asking for compensation, the consumer would do well to quote the Supreme Court judgement in the case of Charan Singh vs Healing Touch Hospital, where the apex court has emphasised that compensation awarded by consumer courts should not only recompense the individual, but also act as a deterrent and bring about an attitudinal change in the service provider. I would like to make another suggestion here. Whenever consumers come across retailers who have scant respect for them, they must make it a point to inform other consumers in their neighbourhood and warn them about such people. In fact, if you have a residents’ association, it would be a good idea to meet once a month and exchange experiences such as this and keep a register where these details and the name of the retailer/manufacturer are recorded. If a retailer makes amends, that could also be noted in the register. Residents could also grade or rate retailers in the area on the basis of their experiences. This will help other consumers in your neighbourhood to make the right choice. Once this register becomes a reference point and retailers get to know of it, it is bound to have a positive impact on the relationship between retailers and consumers. |
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by Praful R. Desai Bona fide need Q:
Is old age of the father, not sufficient reason to be shifted to the ground floor? Ans:- Delhi H.C. in Smt Ramni Sehgal v A.M. Siddiqui (2000 (2) RCJ 108) took the view thus. True, at the time when the petition was filed, the father did not want to stay in the house of the daughter as petitioner is the only child of her father. The desire of the father of the petitioner to stay in the house which he himself has built initially though in the name of the petitioner, cannot be outrightly rejected, more so after the death of the wife i.e. mother of the petitioner. Rent Controller, in the opinion of the H.C. committed grave error in not allowing the application of the petitioner which was moved U/o. 6, R. 17 of CPC incorporating the need of the father of the petitioner to live in the property. The H.C. noted that the father of the petitioner is in such a critical condition that he cannot climb the stairs. Therefore, it is necessary to have him on the ground floor. Respondent contends that no evidence has been brought on record that the aunt of the petitioner is living on the first floor. It is immaterial whether the aunt is living on the first floor or not, so long as the condition of father of the petitioner is such that he cannot use the first floor or the second floor of the property. A tenant cannot be permitted to enjoy the property when the petitioner or her father is in dire need of the said premises. In view of the above, the HC, set aside the order of the lower Court and passed a decree of Eviction against the respondent. However, the H.C. clarified that the Decree of Eviction shall not to be executed before the expiry of a period of six months. In that way, the H.C. allowed the present civil revision. |
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