Month: October 2021

Ola Electric postpones purchase window for new scooter orders to Dec 16

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Ola Electric has deferred the purchase window for new orders of its electric Ola S1 scooters to December 16.

The ride-hailing company had earlier stated that the purchase window for fresh orders from “reservers” would open from November 1.

CNBC-TV18 had reported on October 20 that Ola Electric’s next phase of sales will be impacted due to delays in test rides and production.

Customers who have reserved Ola Scooters for Rs 499 will be able to place a purchase order from December 16, CNBC-TV18 has learnt.

The final payment window for the existing orders remains unchanged and will be enabled after the commencement of test rides on November 10.

“We’ve received unprecedented demand for our Ola S1 and S1 Pro scooters and are currently busy fulfilling existing orders!,” Ola said in a statement.

“We will be opening our purchase window for fresh orders on 16th December, 2021. We will reach out to you in the coming weeks to schedule your test ride.”

“Note that if you have already paid Rs 20,000 and secured your scooter during our first purchase window on 15th and 16th September, then there is no change for you. As communicated earlier, your final payment window will open from 10th November onwards basis our previous communication to you and your scooter is on track to reach you within the delivery window already communicated to you.”

Ola Electric said the reset has been done to ensure minimal wait times between purchase, delivery and prioritise existing orders.

Ola Electric’s first purchase window opened from September 15-16.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Will take up vaccine shortage during interaction with PM Modi: Uddhav Thackeray

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Maharashtra Chief Minister Uddhav Thackeray on Sunday expressed concern over what said was a slow pace of coronavirus vaccination in the state, adding he will take up the issue during an interaction with Prime Minister Narendra Modi next week.

Thackeray also said vaccine hesitancy was also an issue besides the unavailability of vaccines and asked more and more people to shed their inhibitions and get vaccinated.

In an informal interaction with senior journalists at his official residence Varsha in the posh Malabar Hill area in south Mumbai, Thackeray, flanked by wife Rashmi, did not entertain any queries on politics. Asked about the long-term strategy of his government to tackle the pandemic, Thackeray quipped, Let us first focus on the task at hand, that is to get more and more people vaccinated and boost the health infrastructure in the state.

People are talking about booster doses. Let us first ensure that all people get both the doses, he said. There are people who have not got even the first dose, he added. The impact of the pandemic’s third wave could be greatly reduced if people follow Covid-appropriate behaviour, Thackeray said. Even those fully vaccinated should continue wearing face masks, he added.

The CM spoke of taking calculated risks in allowing certain activities during the pandemic without causing economic hardships. The pandemic has affected not just the state or the country but the entire global economy, he added. Modi is scheduled to hold a review meeting via video conferencing on November 3 with district magistrates of over 40 districts having low coronavirus vaccination coverage. The meeting will include districts with less than 50 per cent coverage of the first dose and low coverage of the second dose of the vaccine, a CMO official said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Schools in Kerala to reopen from Nov 1 in staggered manner, with bio-bubble

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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After a hiatus of more than one-and-a-half year due to coronavirus outbreak, schools in Kerala are set to reopen in a staggered manner from November 1 starting with classes 1 to 7, 10 and 12 and with COVID protocols, like bio-bubbles in place, the state government said on Sunday.

With 95 percent of the population who are over 18 years of age being vaccinated with at least the first dose and a reduction in the number of new cases and people undergoing COVID-19 treatment, the state has been able to relax social restrictions, Chief Minister Pinarayi Vijayan said.

In this backdrop, the state government has decided to open schools with utmost vigilance and in a staggered manner, the CM said in a Facebook post. To keep schools functioning in a safe manner, guidelines prepared by the Health and Education departments need to be strictly followed by the schools, he said.

Also Read: Several schools in Delhi to reopen for all classes from Monday, some will open after Diwali

He further said the schools need to implement the measures to control congestion, maintain social distancing and ensure cleanliness in classrooms and the surroundings. Earlier this month, the state government had given details of the preparations made by it to safeguard children from getting infected, once schools reopen.

The preparations included cleaning and disinfecting places where children throng and strictly implementing the bio-bubble system. School authorities have been directed to prepare mid-day meal for children and distribute them adhering to COVID protocol besides ensuring them the service of a doctor, the Education department had said.

Along with soap and sanitiser, thermal scanner to examine the body temperature of children, teachers and non-teaching staff would also be arranged in each school. In view of the COVID spread, the state government has been imparting online education to the children in the government and aided schools for the last two academic years including the ongoing one.

The CM, on Sunday, said although studies were progressing well via the online method, children were missing out on studying and playing with their friends and therefore, the situation would be changing from November 1.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Govt issues uniform norms for accountability to protect bonafide decision of bankers

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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To protect the people taking bonafide business decisions, the finance ministry has issued a uniform staff accountability framework for NPA accounts up to Rs 50 crore. These guidelines shall be implemented with effect from April 1, 2022, for accounts turning non-performing assets (NPAs) beginning next financial year.

The Department of Financial Services (DFS), under the finance ministry, “vide its order dated October 29 advised broad guidelines to be adopted by all public sector banks (PSBs) on ‘Staff Accountability Framework for NPA Accounts up to Rs 50 crore’ (Other than Fraud Cases)”, the Indian Banks’ Association (IBA) said in a statement. Banks have been advised to revise their staff accountability policies based on these broad guidelines and frame the procedures with approval of the respective boards, it said.

The IBA, being a key stakeholder of the framework, was involved in the process right from the beginning. These guidelines will help quell apprehension that bankers could be hauled up for their bonafide commercial decision go wrong. It will also help banker to take credit decisions faster and help support economy.

Stressing that the new guidelines will surely boost the morale of the PSBs employees immensely, it said banks will have to complete staff accountability exercise within six months from the date of classification of the account as NPA. Further, it said that depending on the business size of the banks, threshold limits have been advised for scrutiny of the accountability by the chief vigilance officer (CVO).

Past track record of the officials in appraisal or sanction/ monitoring will also be given due weightage, it added. “At present, different banks are following different procedures for conducting staff accountability exercise. Also, staff accountability exercise is being carried out in respect of all accounts which turn into NPA. “This approach not only adversely affects staff morale but also puts a huge strain on the bank’s resources,” it said.

While punitive action needs to be taken against the officers having malafide intent/involvement, it is essential to ensure that bonafide mistakes are dealt with compassion, IBA said. It added that there is a need to protect the people taking bonafide business decisions in this competitive environment.

Moreover, IBA said that at a time when the country is in need of an economic boost, slow credit delivery to industries due to the fear of implication is a matter of concern and needs urgent address. Banks with the approval of their board may decide on threshold of Rs 10 lakh or Rs 20 lakh depending on their business size for the need of examining the aspect of staff accountability, it said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

G20 leaders call for effective action to cap global warming at 1.5C

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Leaders of the Group of 20 rich countries called for “meaningful and effective” action to limit global warming at 1.5 degrees Celsius in a final communique seen by Reuters on Sunday ahead of its publication.

However, the communique contained few concrete actions and made no reference to a specific 2050 date to achieve net zero carbon emissions that scientists say is vital to stave off disastrous climate change.

The final document says current national plans on how to curb emissions will have to be strengthened “if necessary” and includes a pledge to halt financing of overseas coal-fired power generation by the end of this year.

“We recognize that the impacts of climate change at 1.5°C are much lower than at 2°C. Keeping 1.5°C within reach will require meaningful and effective actions and commitment by all countries,” the communique said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Govt approves salary hike for these employees

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Employees of state-run MOIL will get an increment in salary, as the government on Sunday announced the wage revision, a move which will have “financial impact” of about Rs 87 crore per annum to the company.

Minister for Road Transport and Highways Nitin Gadkari and Steel Minister Ram Chandra Prasad Singh made the announcement at an event organised by MOIL in Nagpur, a statement issued by the Steel Ministry said.

According to the statement, the wage revision is for a duration of 10 years. The effective date has been calculated from August 1, 2017, up to July 31, 2027. It will benefit close to 5,800 company employees. “The proposal includes fitment benefit of 20 per cent and perks/allowances at the rate of 20 per cent. An Interim relief @ 12 per cent of basic and dearness allowance was given by the company w.e.f May, 2019,” it said.

As per the Ministry, MOIL announced that it will be making the arrear payment in one go, which will have a financial impact of around Rs 218 crore for the period from August 1, 2017 to September 30, 2021. The total financial impact of the proposed wage revision will be about Rs 87 crore per annum. In addition, the production linked bonus for all employees for the year 2020-21 will be paid before Deepawali was also announced, MOIL CMD M P Chaudhary said. During his visit, the steel minister also inaugurated various MOIL facilities like second vertical shaft at Chikla mine, and hospitals at its five mine locations.

On Monday, the minister will visit Balaghat mine, the deepest underground Manganese mine in Asia, operated by MOIL. MOIL, under the steel ministry, is the largest producer of manganese ore in the country and operates 11 mines in Maharashtra and Madhya Pradesh.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

2-week UN climate summit formally opens in Glasgow

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

The UN climate summit in Glasgow has formally opened, kicking off two weeks of intense diplomatic negotiations by almost 200 countries on how to tackle the common challenge of global warming.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

IND vs NZ, T20 World Cup Match, Highlights: Williamson guides New Zealand to comfortable 8-wicket win

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Hello and welcome to our live match blog in this do-or-die encounter for Team India at the ICC T20 World Cup 2021. It’s early days in the tournament for both India and New Zealand, having played just once so far. However, the stakes are high with only the top two teams from the group qualifying to the semifinals.

With Pakistan flying high and almost securing their berth in the next round with three victories, it’s down to the other teams to scrap for the second spot and both Kohli and Williamson will be keen to grab that with both hands.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow