No security for education loans upto Rs. 4 lakh

Aug 9: In consonance with Finance Minister's announcement in the Budget 2004-05, Indian Banks Association has issued a circular on July 23, 2004 to all member banks not to ask for collateral on education loans upto Rs. 7.5 lakh. Accordingly, now no security is required for loans upto Rs. 4 lakh, only a satisfactory third party guarantee is enough for loans above Rs. 4 lakh and upto Rs. 7.5 lakh and collateral security of suitable value is required for loans above Rs. 7.5 lakh.

Comprehensive Education Loan Scheme was started on 28.4.2001. Under the Scheme, upto Rs. 7.5 lakh Loan is admissible for studies within the country and upto Rs. 15 lakh for studies abroad. No collateral or margin is required for loans upto Rs. 4 lakh. For loans of higher amounts, the margin requirement is 5% for inland and 15% for studies abroad. The rate of interest on loans upto Rs. 4 lakh is Prime Lending Rate (PLR) and for loans above Rs. 4 lakh is PLR + 1%.

The Education Loan Scheme had been very successful since its launch in the year 2001. As against roughly 50,000 accounts and Rs. 670 crore loan on March 31, 2001, the number of accounts have gone upto approximately 1,53,000 and loan amount to Rs. 2600 crore on March 31, 2004. -Keralamonitor.com
President inaugurates golden jubilee celebrations of Lalit Kala Academy

Corporate governance a must for family run businesses in the Middle East

Vice-chairman of family-owned Nuqul Group addresses Corporate Governance seminar in Dubai

August 9, 2004 With an overwhelming 90 percent of businesses owned by families in the Middle East, there is an urgent need to establish corporate governance within these companies to ensure their survival in today's competitive business environment. At a seminar held recently in Dubai, Ghassan Nuqul, Vice-chairman of the family-owned Nuqul Group shared his company's transition experience from a small family-managed business to a professionally-run conglomerate with the help of sound corporate governance principles.

Corporate governance can be defined as the relationship between corporate managers, directors and investors. Corporate governance requires businesses to separate ownership from management, and gives managers the freedom to effectively manage the business and realize corporate objectives, protect shareholder rights, meet legal requirements and ensure transparency.

Elaborating on the known benefits of corporate governance, Nuqul commented, "Global studies have shown that corporate governance can not only help businesses streamline operations and achieve greater profitability, they can also attract investment." Investors in emerging markets, including the Middle East are willing to pay as much as 30 percent more for shares in companies with good corporate governance, according to a recent report published by McKinsey and Company, the leading management consulting firm. The report further stated that companies incorporating even a single element of governance can expect a 10 to 12 percent boost to their market valuation.

The Nuqul Group, which was established in 1952, is a clear example of the benefits that family businesses can reap from corporate governance. The Group's strategy to outsource talent by hiring the best professionals in the business and delegating responsibility has paid off. Today, the Nuqul Group is an industry leader in several sectors, bringing together 27 regional and global companies. The company employs over 5,500 people across the Arab World, and North America.

"We, at the Nuqul Group, have made a conscious decision to delineate ownership from management by incorporating principles of corporate governance. We have adopted a 'Lead by example' model for our managers and employees, by allowing them full autonomy in day-to-day operations. We also encourage fresh ideas by maintaining a vibrant, open relationship between management and staff," he added.

"Corporate governance provides the tools for migrating traditionally run businesses into professionally managed market-driven enterprises, enhancing competitiveness in the global market. While the owners define strategy and monitor performance, we steer clear from intervening in specific matters, leaving that up to trained professionals in each field," concluded Nuqul. The Jordan-based Nuqul Group is one of the region's leading industrial conglomerates. It brings together 27 regional and global companies, 5,000 employees, and exports its products to over 45 exports markets worldwide.

Indian arts gains international status : Reddy

Aug 9: Art is enduring and it spans the bridge between human contrivance and organic growth immortalizing it in the process. This was stated by the Minister of Information & Broadcasting and Culture, Shri S. Jaipal Reddy at the Golden Jubilee celebrations of Lalit Kala Akademi, which was inaugurated by the President Dr. A. P. J. Abdul Kalam here today. The Minister said that Lalit Kala Akademy, which was the Government of India endeavor to promote the Arts among the grass root level, has taken up this job with full responsibility and enthusiasm and has completed 50 years of its life. He said that with the support of the Lalit Kala Akademy Indian art has gained an International status and also attempted reach to common man.

Seventeen eminent Indian artists were felicitated with the Lalita Kala Ratna for lifetime contribution to art by the President. The awardees include Akbar Padamsee, Amar Nath Sehgal, Chintamoni Kar, Jehangir Sabavala, KG Subramanyan, Kapila Vatsayayan, Krishen Khanna, MF Husain, Mulk Raj Anand, Paritosh Sen, Ram Kumar, SH Raza, Sankho Chaudhuri, Satish Gujral, Shanti Dave, Somnath Hore and Tyeb Mehta.

Congratulating the awardees, Shri Reddy said that these honoured artists have not only made a special position for themselves but also became a source of inspiration for the youth and the children of the whole world.

To commemorate its Golden Jubilee year, the Akademy will be organizing a year long programme of events to be held in partnership with a wide range of art institutions and practitioners. The yearlong calendar of events will reflect the Akademy's achievements in the last 50 years and contribution to developing and promoting Indian visual arts nationally and internationally. It will target artists, cultural experts and other segments of the society to seek an all-inclusive participation and an attempt will be made to look forward to the future and use the platform here in Delhi and in the other metros through its expanding network of regional centres to focus on the Akademy's plans in the coming years. -Keralamonitor.com

Sunil Dutt launches Bharat Jodo campaign

Aug 9: To spread the message of communal harmony and national integration among the masses, especially among the youth, Minister of Youth Affairs and Sports, Shri Sunil Dutt launched Bharat Jodo campaign from Rajghat, Samadhi of Mahatma Gandhi here today. The campaign being organied by Nehru Yuva Kendra Sangthan of the Ministry will have participations of school children, youths from various regions at District level to spread message of national integration and harmony.

Launching the campaign, in the presence of 2000 youth and children from various parts of the country, Shri Sunil Dutt said that the youth are asset of the country, they can change the face of the society and the nation by their constructive contribution. Spinning of khadi wheel, singing of Gandhi's favorite songs were the highlights of the programme. The Chief Minister of Delhi, Smt. Shiela Dixit, Eminent Gandhian's and distinguished persons from various walks of life also participated in the function.

Nehru Yuva Kendra Sangthan will be organising several programmes during the month to spread the message of sadbhavna. A national seminar will be held on 'Rajeev Gandhi's vision on youth' on 19th August at Vigyan Bhawan, New Delhi. -Keralamonitor.com

India emerges as one of the largest fertilizer producers in the world

New fertilizer policy to aim at phased deregulation of fertilizer sector

Annual report of the Department of Fertilizers 2003-04

Aug 9: The increase in the fertilizer production capacity in the country has been rapid. As of now the country has achieved near self sufficiency in production capacity of Urea and DAP, with the result that India could manage its requirement of these fertilizers from indigenous industry. The installed capacity as on 31.03.2004 has reached a level of 119.98 lakh MT of Nitrogen and 54.20 lakh MT of Phosphatic nutrient, making India the 3rd largest fertilizer producer in the world. The rapid build up of fertilizer production capacity in the country has been achieved as a result of a favourable policy environment facilitating large investments in the public, co-operative and private sectors. This is indicated in the Annual report of the Department of Fertilizers, Ministry of Chemicals and Fertilizers.

The domestic fertilizer industry has attained the level of capacity utilization that compares favourably with others in the world. The capacity utilization during 2002-03 and 2003-04 was 87.2 % and 88.6% for Nitrogen and 72.8 % and 67% for Phosphate respectively. The capacity utilisation of the fertilizer industry is expected to improve through revamping, modernization of the existing plants and closure of unviable capacity of sick fertilizer units.

According to the report, the Department of fertilizers is in the process of formulating a long term fertilizer policy which will aim at phased deregulation of the fertilizer sector. A committee was constituted under the chairmanship of Secretary, Fertilizers, with representatives from the fertilizer industry, media and others to examine responses to the draft policy.

The availability of urea, which is the only fertilizer under price and partial movement control of Government, remained satisfactory throughout the Kharif 2003 season and Rabi 2003-04. DAP and MOP, the major decontrolled and decanalised fertilizers are freely imported . In Kharif 2003, 4.65 lakh MTs of DAP and 10.81 lakh MTs of MOP was imported.

Regarding joint ventures abroad, the report points out that due to constraints in the availability of gas, which is the preferred feedstock for production of nitrogenous fertilizers and the near total dependence on imported raw materials for production of phosphatic fertilizers, the Government has been encouraging Indian companies to establish joint venture production facilities, with buy back arrangement, in other countries, which have rich reserves of natural gas and rock phosphate. -Keralamonitor.com

All the 20 workers trapped in a tunnel at Kullu rescued unhurt

Aug 9: All the 20 workers who were trapped in a tunnel at the Parbati Hydroelectric Project in Manikaran area of Kullu district, have been rescued alive and unhurt in a hazardous operation this morning. The National Hydroelectric Power Corporation, which has been constantly monitoring the situation, has conveyed this to the Power Ministry.

Rescue operations started on a war footing immediately after the intensity of the rains subsided. Though there was practically no access, still two earthmovers were taken to the blocked entrance of the tunnel through slush and debris and managed to save them.

The incident occurred at about 1.30 a.m. yesterday following a cloud burst in the Manikaran valley of the Kullu District in Himachal Pradesh and as a result, the work at the Parbati Stage two Project of the NHPC has been badly affected. The worst hit site was the Jigrai Nallah area at the dam complex, where the Head Race Tunnel works were being executed.

The labourers belonging to M/s Patel Engineering Ltd. who were in their nightshift got trapped in the tunnel with the sudden rise in water level, induced by the flash floods. The silt deposited by the floods upto a height of six meters totally covered the entrance to the tunnel. The silt had to be removed to make a opening for the rescue operation. -Keralamonitor.com

Freedom fighters call on Prime Minister

Aug 9: The Prime Minister, Dr. Manmohan Singh, has said that it was time for the people to come together to fight against communal forces that tried to divide people in the name of religion and stand united to achieve the fruits of freedom. Speaking to the freedom fighters who called on him today on the occasion of August Kranti Diwas, the Prime Minister called upon people to stand united in the fight against poverty. He recalled the services of Mahatma Gandhi, Jawaharlal Nehru, Sardar Patel and other freedom fighters. He called upon the people to emulate the examples of the freedom fighters in achieving the goals before the nation and strengthening the unity and integrity of the country. -Keralamonitor.com

Central Advisory Board of Education(CABE) meets tomorrow

Aug 9: The 51st Meeting of the reconstituted Central Advisory Board of Education (CABE) opens tomorrow after a gap of ten years. The two-day meeting to be opened by the Human Resource Development Minister, Shri. Arjun Singh, will discuss, among other things, education related provisions and general policy issues in the National Common Minimum Programme, Elementary and Secondary School Education, Higher and Technical Education.

CABE is the highest advisory body to advise the central and state governments in the field of education. It may be recalled that the CABE was first established in 1920 and dissolved in 1923 as a measure of economy. It was revived in 1935 and had continued to be in existence till 1994. Despite the fact that in the past, important decisions had been taken on the advice of CABE and it had provided a forum for widespread consultation and examination of issues relating to educational and cultural development, it was unfortunately not reconstituted after the expiry of its extended tenure in March 1994. CABE has a particularly important role to play at the present juncture in view of the significant socio-economic and socio-cultural developments taking place in the country and for the review of the national Policy on Education which is also due. It is a matter of importance that the Central and State Governments, and educationists and stake holders representing all interests, should increase their interaction and evolve a participating process of decision making in education, which enhances the federal structure of our policy.

Union Minister for Human Resource Development is the Chairman of the CABE and the Minister of State for Human Resource Development, the Vice Chairman. In addition 7 Ministers of the Government of India representing Ministries of Information and Broadcasting, Science & Technology, Labour, Health and Family Welfare, Social Justice and Empowerment, Tribal Affairs, Youth Affairs and Sports, the Member (Education), Planning Commission, one Minister Incharge of Education from each State Government nominated by the Chief Minister and Lt. Governor or the Minister Incharge of Education in each UT Administration are members of the Board. The Board has four Members elected from the Lok Sabha and two Members from Rajya Sabha, alongwith ex-officio Members and permanent invitees representing the various institutions and departments having a bearing on education. They are Secretary, Department of Elementary Education and Literacy, Government of India, Chairman, University Grants Commission, Chairman, All India Council for Technical Education, Chairman, Medical Council of India, Chairman, Central Council of Indian Medicine, Director General, Indian Council of Agricultural Research, Chairman, Central Social Welfare Board, Director, National Institute of Educational, Planning and Administration, Director, National Council for Educational, Research and Training, Chairman, Central Board of Secondary Education, Secretary-General, Association of Indian Universities, Chairman, Indian Council of Historical Research, Chairman, Indian Council for Social Science Research, Chairman, Indian Council for Philosophical Research, Director-General, National Literacy Mission, Chairman , National Council for Teacher Education and Chairman, Distant Education Council.

In addition the CABE has 32 eminent persons representing various walks of life namely:

1. Shri Javed Akhtar, Poet, Lyricist and Activist

2) Shri U.R Ananthamurthi, Writer, Gyanpeeth Awardee

3) Prof. Andre Beteille, Sociologist

4) Ms. Ela Bhatt, SEWA

5) Shri Praful Bidwai, Columnist, Peace activist

6) Shri Charles Correa, Architect

7) Ms. G. Nirmala Deshpande, Social activist

8) Shri G.P Deshpande, Writer, Playwright and Scholar

9) Ms. Mahashweta Devi, Writer, Magsaysay awardee, Gyanpeeth Awardee

10) Shri Jean Dreze, Economist

11) Shri S.V Giri, Vice-Chancellor, Satya Sai University, Puttaparthi

12) Prof. J.S Grewal, Historian

13) Shri Gopal Guru, Political Scientist

14) Ms. Zoya Hasan,Professor of Political Science, JNU

15) Prof. P.V Indiresan, Former Director, IIT, Chennai

16) Shri J.J Irani, Tata Trust

17) Shri Kiran Karnik, Chairman, NASSOCOM

18) Ms Kiran Shaw Mazumdar, Chairperson, Biocon India Ltd.

19) Prof. Mrinal Miri, Vice-Chancellor, NEHU, Shillong

20) Ms Shubha Mudgal, Classical Singer

21) Dr. Jayant Narlikar, Scientist

22) Shri Sandeep Pande, Social activist, Magsaysay awardee

23) Shri Azim Premji, Chairman, Wipro

24) Shri Vinod Raina, Educationist, NGO

25) Shri Anil Sadagopal, Educationist

26) Ms Teesta Seetalvad, Editor, Communalism Combat

27) Shri Kiran Seth, SPIC-MACAY

28) Ms Kumud Sharma, WOMEN'S Studies, Director, CWDS

29) Shri P.B Sharma, Dean, Delhi College of Engineering

30) Ms. Shanta Sinha, Educationist, Magsaysay awardee

31) Ms. Krishna Sobti, Writer and

32) Shri Habib Tanvir, Theatre Activist.

The Secretary, Department of Secondary and Higher Education in the Ministry of Human Resource Development is the Member Secretary. The permanent invitee to CABE are Secretaries of Department of Women and Child Development, Youth Affairs and Sports, Culture, Science and Technology, Labour, Industrial Policy and Promotion and the Secretaries of the Ministries of Social Justice and Empowerment and Information Technology. -Keralamonitor.com

State Secretaries Conference to discuss empowerment schemes for weaker sections

Aug 9: A two-day conference of the Secretaries of States and Union Territories is beginning here tomorrow to discuss and review various schemes being implemented by the Central Government for empowerment of weaker sections of society. The conference will be inaugurated by the Minister of Social Justice & Empowerment, Smt. Meira Kumar.

The conference will specifically review implementation of schemes for economic and social development of Scheduled Castes, backward classes, minorities and persons with disabilities. It will also review implementation of National Policy on older persons and schemes for responding to the needs of children in distress. The conference will focus on timely submission of proposals by State Governments, matching share for financial allocation in State Budget, utilization of Central funds by State Channelising Agencies, proper verification of NGOs proposals, time bound completion of projects and effective implementation of various development schemes. It would also focus on the issue of giving adequate publicity to the schemes by State Government agencies. -Keralamonitor.com

NCC delegation returns from United Kingdom

Aug 9: A thirteen-member National Cadet Corps (NCC) Cadet delegation including one office and nine girls cadets visited United Kingdom under the Youth Exchange Programme of NCC from Jul 20 to Aug 04, 2004. The NCC cadet visited the United Kingdom on the invitation from the cadets and Headquarters Land Command of UK for a duration of 16 days.

During their visit, the NCC cadets participated in the Army, Sea and Air Cadet Corps camps of UK. Apart from this Cadets also visited various educational/training institutes, Palace of Westminster at 10 Downing Street, Buckingham Palace, Madame Tussards & Royal Observatory Greenwich and other various places of tourist interests. They also witnessed Furnborough Air Show, Gliding at Air Cadets Central Gliding School, Submarine Museum, Canoeing, Adventurous training and Field activities.

Col JP Anklesaria was the leader of the team the names of other participants are Sgt Mohanty Ispita, Cadet Senior Under Officer Vishwanath Vishak K Cadet Harne Rucha, Cadet Prasad Dipika, PO Cadet Pandy, Ravi Prakash, Sgt Bhatt Prakya, Sgt Rawal Anupreksha, Senior Under Officer Subramoniam Sriram, Cadet Sudham Shiksha, Cadet Khali Abhishek and Cadet Gulia Chetna.

It is pertinent to mention that Indo-UK Youth Exchange Prgamme had started in the year 1971 and since then it is being conducted every year. The aim of NCC Youth Exchange Programme is to help cadets to understand international relations. It also acts as the third tier of diplomacy by supplementing the efforts of our diplomats and leaders in building bonds of friendship with other friendly nations.

The members of the delegation formally called on the DG NCC, Lt Gen MC Bhandari at New Delhi today who welcomed them back and lauded their efforts in bringing glory to the country. -Keralamonitor.com

Sunil Dutt reviews Commonwealth Games' preparations

Aug 9: Shri Sunil Dutt, Minister of Youth Affairs and Sports today reviewed preliminary preparation for Commonwealth Games 2010, to be held in Delhi, in a high level meeting here today. Lt. Governor of Delhi, Shri B.L. Joshi, Chief Minister of Delhi, Smt. Shiela Dixit, President of Indian Olympic Association, Shri Suresh Kalmadi, Vice President of the Association, Shri V.K. Malhotra, Vice Chairman of DDA, Shri Madhukar Gupta and senior officials of conerned Ministries and Departments participated in the meeting.

Immediate reappraisal of existing sports infrastructure at Delhi was suggested in the meeting so that improvement and creation of additional infrastructure can be taken up without any delay. Participants were of the view that an apex committee at the level of Cabinet should be constituted to supervise the work of other sub-committees including the implementation committee for the Games. Approach of the Metro to the main sports arena and other transport requirement were also discussed in the meeting. It was decided that a meeting to discuss all aspects related with the Games and to have time bound action plans would held immediately after the Olympic Games are over. -Keralamonitor.com

Geo-environmental studies of GSI

Aug 9: Geological Survey of India (GSI) of the Department of Mines took up 34 geo-environmental investigations during 2003-04. These investigations comprised geo-environmental appraisal, geo-environmental impact assessment and studies on natural hazards and geomorphic processes covering public health and landslide issues. In addition 31 items of Syn-Exploration Baseline Data Generation were also taken up.

The collaborative research project between GSI and BRGM France initiated during 1999-2000 on impact of mining activity on water quality of Subarnarekha Basin, downstream of Jamshedpur, continued during the year. The project involved capacity building and transfer of technology through training in field.

Regional geo-environmental appraisal studies in Jhunjhunu district of Rajasthan have identified the problems of lowering of groundwater level due to recurrent draughts, alkaline nature of ground water with occasional high total dissolved salts, dune sand mobilisation and spoiling of agricultural fields. High fluoride content in ground water in few villages of the area has been demarcated.

Multidisciplinary geological studies for the conservation of Jain monuments around Gwalior Fort area and Mala Devi temple, a Jain Monument at Gyaraspur, district Vidisha, Madhya Prqdesh were carried out. Suitable remedial measures have been suggested.

Geo-environmental studies of the urban agglomeration of Agartala Town, Tripura have revealed that the Agartala Town blocks the orginal natural course of the old river. Studies of arsenic pollution in the groundwater of Bhagirathi river delta in 24-Parganas (N) and Nadia districts of West Bengal revealed that the drainage areas of Ichamati and its distributaries contain high arsenic zones than that of Bhagirathi/Hooghly River.

A hazard zonation map of fluoride pollution in ground water around Daboka, Nagaon district, Assam has been prepared, which reveleas the presence of three fluoride-contaminated zones.

Study and correlation of the Late Cenozoic semi-arid fluvial systems along Thar Desert margins have revealed that some of the semi-arid/desert margin river systems, such as Luni and Sabarmati show changes in river dynamics due to neo-tectonics and fluctuations in sea level. Studies related to the coastal responses to wave dynamics in the Shankarpur/ Chandipur beach area of West Bengal and South of Narayanpur beach area of Orissa revealed nearly 1.25 km. shifting of the shore-line towards south during the last 22 years. -Keralamonitor.com

Foodgrains production during 2003-04 estimated at 212.05 million tonnes

Aug 9: The foodgrains production during 2003-04 has been estimated at 212.05 million tonnes. According to the Fourth Advance Estimates released by the Ministry of Agriculture, this includes 112.04 million tonnes of Kharif foodgrains and 100.01 million tonnes of Rabi foodgrains. The Third Advance Estimates released in June this year put the foodgrains production for 2003-04 at 210.78 million tonnes. The Fourth Advance Estimates put the rice production at 87 million tonnes, wheat production at 72.06 million tonnes, coarse cereals at 37.76 million tonnes and pulses at 15.23 million tonnes. The production of oilseeds has been put at 251.43 lakh tonnes, of cotton at 137.88 lakh bales, of jute and mesta at 111.97 lakh bales and of sugarcane at 2361.76 lakh tonnes. The comparative figures of production of foodgrains and principal commercial crop from 1991-92 onwards are given in the Annexure. -Keralamonitor.com

ADB investment in Indian railways

Aug 9: The Asian Development Bank (ADB) will assist Indian Railways in three phases by financing priority investments to overcome railway capacity bottlenecks and improve operational efficiency, safety and supporting implementation of a programme of reforms to improve railways' commercial orientation.

In the first two phases, the quantum of assistance will be US $ 600 million, out of which a loan amount of US $ 313.6 million has been approved. Subsequent phases of the loan are linked to implementation of the Ministry of Railways reform programme over a period from 2002 to 2010.

Components of the reform programme relate to establishing a computerized accounting system capable of providing existing government accounts and commercial accounts with break-ups by main lines of business and by main services, outsourcing non-core services, introduction of concessioning for operating some uneconomic branch lines, delineating social and commercial objectives and identification of public service obligations, tariff rationalization, rightsizing of staff strength, restructuring of Production Units, re-engineering internal business processes and customer interface, and strengthening investment planning.

Meanwhile, CRISIL Infrastructure Advisory has been appointed as the Consultant by the ADB under a Technical Assistance (TA) grant, outside the loan, for Management Consulting Services to the Ministry of Railways. The objective of the TA includes study of business development, business opportunities and progress of implementation of the reform programme. -Keralamonitor.com

FDI proposal of Rs. 95.69 crore approved

Aug 9: On the recommendations of the Foreign Investment Promotion Board (FIPB), Finance Minister, Shri P. Chidambaram has approved the proposal of M/s. Xerox Modicorp Ltd. (XMC). The foreign inflow involved in this proposal is Rs.95.69 crore. The Company is engaged in the manufacture and trading of xerographic equipment and systems. -Keralamonitor.com

Company Law Board expedites 248 applications

Aug 9: In June 2004 the Regional Benches of the Company Law Board passed orders regarding payment of deposits in the case of 69 applications under Section 58A of the Companies Act, 1956 and Section 45QA(2) of the Reserve Bank of India Act, 1934. Under other Sections of the Companies Act, 179 applications were disposed of.

Also, 272 complaints were satisfactorily settled by the Investor Protection Cell in the same period. -Keralamonitor.com