1)SC stays release of 4 Rajiv case convicts
2)Kedarnath shrine to reopen on May 4
3)AAP gets innovative to raise 300 crore
Next time you think of donating money to the Aam Aadmi Party, you can do so using your mobile phone. This is just one of the many innovative strategies the party has come up with to meet its target of raising Rs.300 crore for its Lok Sabha poll debut.Raising funds by collaborating with telecom service providers, putting swipe machine at party offices for prospective donors and the option of donations in instalments are high on the fund-raising strategy of the party.AAP fund raising team member Kumar Gaurav told The Hindu that the strategy — online donations and meetings with entrepreneurs — through which AAP raised funds for its Delhi Assembly campaign is now being extended across the country.“Two things are on our priority list — to make the donation process as hassle free as possible and to tap every bit of enthusiasm among the people who wish to see a change in the country by asking them to help us by donating in whatever small way possible,” Mr. Gaurav said, adding the party is in talks with telecom service providers for creating a payment gateway.The party has also started an “I Fuel Swaraj” campaign, inviting volunteers to help it raise funds. As part of the campaign, the AAP has asked people to join the fund-raising team and each member of the team will be given a deadline to raise a target amount.
4)Electric passenger bus comes to Bangalore
BMTC, Utopia join hands for initiative
The electric bus inaugurated in Bangalore promises emission-free transport.— Photo: K. Bhagya PrakashIn a first-of-its-kind in the country, an electric passenger bus, with zero emission level, was inaugurated by Transport Minister R. Ramalinga Reddy here on Thursday.An initiative taken up by Bangalore Metropolitan Transport Corporation (BMTC), in co-ordination with Utopia, the air-conditioned 31-seat coach has a range of 250 km with a full battery charge (four to six hours).The BMTC will operate the bus on trial basis for three months between Kempe Gowda bus depot and Kadugodi. It will be used on other routes subsequently.With a battery capacity of 324 kWhr, the bus can make about eight trips on the route, with a full charge. A battery charging station has been set up at Depot 7 in the Majestic area.Mr. Ramalinga Reddy said that with zero emission level the bus will be eco-friendly. “The bus will run on free trial basis for the first three months, following which the BMTC will decide on its purchase. The passenger fare will be equivalent to the Volvo bus fare,” he said.Cost Rs 2.7 croreHe said that the bus is expected to cost Rs 2.7 crore. The bus, manufactured by BYD Auto, has two sliding doors and two roof hatches which could serve as emergency exits and two CCTV cameras in the saloon area.Apart from this, there is a small hammer attached next to the windows for every row on either side for passengers to break open the glass in case of emergencies.The battery management system also monitors the voltage and temperature of the electric cells to ensure safety.BMTC managing director Anjum Parvez said that the bus comes with a fire detection system. “There are sensors that will detect a spark or smoke and this will be automatically indicated on the dashboard to alert the driver,” he said.About tinted glass on the bus, Mr. Parvez said that the model is manufactured that way but if the BMTC decides to purchase it, specifications will be adhered to.There is a camera and electrically adjustable mirrors for rear viewing. There is also a ramp for wheelchair-bound passengers.
The bus, manufactured by BYD Auto, will cost Rs. 2.7 croreWith full battery charge, the bus can run up to 250 km
5)To school and back — on boat
Children travel from Nellore to Tiruvallur every day
against all oddsStudents from Irukkam village in Andhra Pradesh travel by boat to study in schools in Tamil Nadu.— Photo: B. Jothi Ramalingam
While children travelling by bus or walking to school is common, here is a group that takes a boat from across the boundary.
Over 150 children of Irukkam, a coastal village of Nellore district in Andhra Pradesh, spend two hours every day travelling by boat across the Pulicat Lake to reach their schools in the Tiruvallur district of Tamil Nadu. Their families depend on fishing for a livelihood.
They study at government schools, panchayat union schools and a private school in the coastal villages of Sunnambukulam, Obasamudram, Arambakkam in the Gummidipoondi taluk of Tiruvallur.
Language preferences“Our village has only Telugu-medium primary schools. A majority of the families in Irukkam village are Tamil-speaking and are not familiar with Telugu. We want to study in Tamil schools. That is why we come to schools in Tamil Nadu,” says S. Prakash, a class X student of Government Higher Secondary School, Sunnambukulam.
Prakash has been travelling by boat right from class II and wants to pursue computer science engineering in a college in Tamil Nadu. There are many like him, including girls, who do not mind the distance and mode of transport. The youngest is Charumathi, a LKG student.
Risky rideThe boat ride comes with risks. Many children sit on the edges of the mechanised boat throughout the hour-long journey. They have to walk nearly 1.5 km to and from the shore, wading through ankle-deep water, even knee-deep water in certain places.
“We travel by boat for nearly seven km. Once we reach here, the children walk in water and it is sad to see their uniforms getting wet in the morning,” K. Sekar, boatman and resident of Irukkam, says. “There is 5 feet deep water throughout the travel. It becomes difficult when it rains midway.”
Everyday, the children’s journey begins at 7.30 a.m. from Irukkam, says Arun Kumar, a class VIII student. “We reach Sunnambukulam by 8.30 a.m. Our return journey starts at 5 p.m. We wait for all students to assemble before starting. We cannot come to school when it rains heavily.”
While students from class I to VIII pay Rs. 50 every month as boat charges, others XII pay Rs. 90.
Many students say they have got used to the boat ride. “We chat with friends, play games and also study on the way. It might be scary in the beginning, but gets accustomed to the routine within a few days,” G. Indhu, a class XI student adds.
Have they faced any dangerous situations? Yes, says Arun Kumar recounting how once they lost their direction due to fog and reached Maangodu, a nearby village. “Most of us know swimming,” he adds.
To live a day of these students, teachers of the Govt HSS Sunnambukulam visited Irukkam on Republic Day this year. “Some boys, especially those in classes X and XII, stay in the school hostel,” a teacher said.
6)Shankar Mahadevan’s song nominated for Honesty Oscars
Singer-composer Shankar Mahadevan is on cloud nine as Mujhse hogi shurvaat by I Paid a Bribe and the Shankar Mahadevan Academy has been nominated in the best activist anthem category of Honesty Oscars 2014.
A few days before the 86th Academy Awards, campaigning and advocacy organisation ONE and Accountability Lab started unveiling the nominations for Honesty Oscars 2014, an award that honours not Hollywood films, but the creative work of activists and organisations that fight global corruption. The awards will be handed over to those who get maximum number of votes and the winners will be announced on March 2, the night of the Oscars.
So far, three categories of Honesty Oscars have been unveiled — best visual effects, best activist in a leading role and the best activist anthem to honour original songs that have truly inspired audiences to learn about the fight against global corruption and join the movement, too.
“Our song has been nominated for the Honesty Oscar Awards! Please go to the link and vote ...,” Shankar tweeted on Thursday. The song is by the singer’s online music academy and ipaidabribe.com — Bangalore-based non-profit organisation Janaagraha’s initiative to tackle corruption. “Mujhse hogi shurvaat” has been sung by Mahadevan, Sukriti Kakar, Prakriti Kakar and Chetan Naik. The song has been co-composed by Soumil and Siddharth.
7)Tax-free bonds from HUDCO
Housing and Urban Development Corporation (HUDCO) plans to raise Rs.285.8 crore through the third tranche of tax-free bonds from Friday. The Finance Ministry had allowed HUDCO to raise Rs.5,000 crore through bonds in the current financial year, ending March 31. It has raised Rs.4,714 crore so far. The basic size of the issue is Rs.75 crore with an option to retain oversubscription up to Rs.285.8 crore. The issue would close on March 19.
8)Probe sought into FEMA violations in forex derivative contracts
Banks accused of pushing the burden of suchlosses ‘unilaterally’ on exporters
In the wake of unforeseen problems encountered by the exporting community, a demand is now gaining ground for an investigation into foreign exchange derivative contracts.
The demand has picked up steam with a Member of Parliament dashing off a letter to the Prime Minister demanding a “comprehensive independent investigation into malafide dealings in inherently toxic derivatives, which have led to huge losses for exporting units”.
In his letter dated February 3, 2014, T. K. Rangarajan, a Member of Parliament, alleged that the hedging undertaken by banks on behalf of exporters “were done in flagrant violation of FEMA (Foreign Exchange Management Act) and the RBI (Reserve Bank of India) guidelines.’’ Asserting that such derivative contracts entered into with ‘brazen violations’ had led to losses, he accused banks of pushing the burden of such losses ‘unilaterally’ on the exporters.
Hedging “is the most basic recourse” exporters adopted to insulate themselves against vagaries of international marketplace, Mr. Rangarajan said. Banks undertook the hedging exercise on behalf of exporters. It was assumed that the intermediation of the banker would be directed to secure the interest of its charge — the exporter, he added. “However, it is now coming to light that banks had undertaken hedging which betrayed major irregularities and improprieties,” he alleged in his letter to the Prime Minister.
“The derivatives were inherently flawed, exotic and toxic products, which were responsible for the global meltdown,” he said. Mr. Rangarajan alleged that the bankers were aware of the ‘toxic nature’ of the derivatives. Yet, “they subordinated the interest of exporters to the profit of the foreign entities for commission for their respective banks,” he pointed out.
“Alleging grave financial misdemeanour by certain banks,” he urged the Prime Minister to institute a comprehensive investigation into the whole issue.
9)New CSR rules to come into force from April 1
Funds given to political parties will not count as corporate social responsibility activity
The much-awaited rules for the new ‘corporate social responsibility’ (CSR) regime were notified on Thursday, under which companies with sizable businesses would need to spend a minimum 2 per cent of net profit for the benefit of the society.
The CSR activities will have to be within India, and the new rules will also apply to foreign companies registered here.
However, funds given to political parties and the money spent for the benefit of the company’s own employees (and their families) will not count as CSR.
Listing out the permitted CSR activities, the government said that they needed to be undertaken as per approval of the company’s board in accordance with its CSR Policy and the decision of its CSR Committee.
The CSR rules will take effect from April 1, as part of the new Companies Act. They will apply to companies with at least Rs 5 crore net profit, or Rs.1,000 crore turnover or Rs.500 crore net worth.
Such companies will need to spend 2 per cent of their three-year average annual net profit on CSR activities in each financial year, beginning the next fiscal, 2014-15.
For the purpose of deciding the CSR spending eligibility of a company, profit from overseas branches and dividend received from other companies in India will be excluded from the net profit criteria.
Besides, contributions made ‘directly or indirectly’ to any political party have been excluded from CSR ambit.
The CSR policy of a company should also specify that “surplus arising out of the CSR projects or programmes or activities shall not form part of the business profit of a company.’’
A company can also carry out CSR works through a registered trust or society or a separate company.
As per the rules, a company may also collaborate with other companies for CSR activities, provided they have to separately report about spending on such projects programmes.
“The CSR activities shall be undertaken by the company, as per its stated CSR policy, as projects or programmes or activities (either new or ongoing), excluding activities undertaken in pursuance of its normal course of business”, according to the notification by the Corporate Affairs Ministry.
In an official release, Corporate Affairs Minister Sachin Pilot said the rules had been finalised after extensive consultations with all stakeholders.
A wide range of activities, including livelihood enhancement projects and steps for the benefit of armed forces veterans have been brought under the CSR ambit.
When it comes to having manpower for CSR works, the government has said that companies can spend only up to 5 per cent of total CSR expenditure for them in a single financial year.
This would be applicable for own personnel as well as those of their implementing agencies.
Among other activities, livelihood enhancement and rural development projects, promoting preventive health care and sanitation as well as making safe drinking water available would be considered as CSR activities.
10)Building hostels for women, orphans comes under CSR
Setting up of hostels for women and orphans as well as efforts that benefit armed forces veterans, war widows and their dependents will come under the ‘Corporate Social Responsibility’ spending ambit.
With the government notifying norms for CSR spending by companies, Corporate Affairs Minister Sachin Pilot on Thursday said the rules had been finalised after extensive discussions with all stakeholders.
Besides setting up homes and hostels for women and orphans, setting up old age homes, day care centres and such other facilities for senior citizens would be considered as CSR activities by the government.
11)Solar-powered ATMs, telecom towers catching up
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