writingonblog uncensored: First movie theatre of South India drafted into he...

writingonblog uncensored: First movie theatre of South India drafted into he...: Chennai: The Electric Theatre building, the first movie theatre of south India located in Anna Road Head Post Office Complex has been dr...

First movie theatre of South India drafted into heritage list

Chennai:

The Electric Theatre building, the first movie theatre of south India located in Anna Road Head Post Office Complex has been draft listed as Grade I heritage building by Chennai Metropolitan Development Authority.

The heritage building finds its mention in the second draft list prepared by CMDA.

At present Anna Road Head Post Office Philately Bureau is functioning in the erstwhile theatre, a release from the Postmaster General of Chennai region stated.

The release stated that department of posts is keen on preserving heritage buildings with due care taking into consideration the precincts of national or historic importance and embodifying excellence in architectural style, design, technology and material usage in these buildings.

writingonblog uncensored: Postal dept to install 1,000 ATMs by 2014 end

writingonblog uncensored: Postal dept to install 1,000 ATMs by 2014 end: Chennai: Chennai became the first city in the country to have Post Office Savings Bank ATM on Wednesday as postal department unveiled pl...

Postal dept to install 1,000 ATMs by 2014 end

Chennai:

Chennai became the first city in the country to have Post Office Savings Bank ATM on Wednesday as postal department unveiled plans to install 1000 ATMs in the country by the end of 2014.

Speaking after inaugurating the ATM at Thyagarayanagar Head Post Office here, Union Finance Minister P Chidambaram said that four more ATMs are ready for operation in Mumbai and Delhi. He said the Chennai ATM will run on trial basis for six months before becoming interoperable.

Chidambaram said that 1.55 lakh post offices of India Post are being modernised with an investment of Rs 4,900 crore to bring all the post offices under the core banking solutions besides setting up ATMs.

Interestingly, as on date 60 post offices with more than 64 lakh accounts worth Rs 11,840 crore have moved to core banking solutions.  In Tamil Nadu, 17 head post offices and four sub-post offices have migrated to CBS.

Postal department secretary Padmini Gopinath said 1,000 post office savings bank ATMs in India will be installed in 2014 and another 1800 ATMs will be added by 2015.

Padmini also said the postal department has an advantage over bank when compared to its reach in India’s nook and corner “We have a network of 1.5 lakh locations across India while banks have only 50,000 branches,” she said.

She also said that 26,840 post offices are planned to be operational in core banking solutions by June 2015. She said by March 31, 2014, postal department in coordination with ministry of rural development, it is proposed to extend disbursal of Mahatma Gandhi National Rural Employment Generation Scheme wages through core banking facility in rural areas.

She also ruled out regularization of gramin dak sevaks as demanded by Confederation of Central Government Employees and Workers stating that they put only three to four hours of work. “They will be paid according to the amount of business they generate,” she added.

CMA likely to do away with pay and use toilets

Chennai:

Pay and use toilets in Commissionerate of Municipal Administration (CMA) could become a thing of past in municipalities and corporations other than Chennai as they would be replaced by free swanky and modern toilets catering to the needs of men, women, children and disabled to realize the vision of Chief Minister of Tamil Nadu to have defecation free urban Tamil Nadu by 2015.

Commissionerate of Municipal Administration is currently thinking of a plan to phase out pay and use toilets with Namma Toilets as they have become a barrier in attaining defecation free urban Tamil Nadu following the misuse of the contract by contractors.

Speaking after the launch of Information Education and Communication (IEC) campaign for Open Defecation Free Urban Tamil Nadu here on Wednesday, CMA commissioner Chandrakant Kamble said that his commissionerate is working out a plan in this regard. “The aim is to make people use the toilet so that open defecation is controlled,” he said.

Interestingly, even a study has highlighted the exploitation of pay-and-use model as one of the major issues that has resulted in people thinking twice to use toilets. According to statistics available, a total of 43.28 per cent of Tamil Nadu’s population lives in the urban areas and 24.9 per cent of urban households in the state don’t have access to toilet. Interestingly, during the last three years the government has released a sum of Rs 224.46 crore for corporations, municipalities and panchayats for improvement of 1312 toilets and construction of 806 new toilets.

Talking about the IEC campaign, Kamble said that CMA has designed Namma Toilet on the principles of universal design and now the idea is to have posters and banners in public spaces to encourage toilet use.

Interestingly, CMA has even conducted a study to garner the needs of people before designing these toilets. “When you are building the toilet for people you should know what they want to make the scheme a success. These toilets are designed for disabled, men, women and children,” he said. Interestingly, in the next three months, CMA will be constructing 490 more toilets across the state, says Kamble.

Highlighting on the difficulty to maintain such toilets, Municipal Administration and Water Supply secretary K Phanindra Redddy said that corporation officials should also understand the efforts made by the people who are keeping the toilet clean. “They should be respected and compensated properly,” he said.

State Planning Commission vice chairperson Santha Sheela Nair said the earlier schemes for sanitation was implemented without any thought process. She said public toilets could meet the 80 per cent requirements of the people. “For 100 per cent result, each house should have a toilet,” she said while urging the municipal councillors and chairpersons to plan for sanitation related schemes in slums in their corporations. “Planning commission will consider your request as the state now has State Backward Grant Fund for the schemes in rural areas as well as slums,” she added.

Box:

--- Namma toilets are designed to suit the needs of men, women, children, elderly and differently-abled.

--- It has technology solutions to address availability of water, power and safe sewer disposal

--- Re-use of treated water for flushing purposes

--Solar panels for toilet compound lighting and water heating

---Green technology that converts human waste into useful end products like bio-gas, compost and inorganic fertilizers and recycle liquids for flushing

writingonblog uncensored: Lanco gets contract for 1 X 660 MW Supercritical E...

writingonblog uncensored: Lanco gets contract for 1 X 660 MW Supercritical E...: Chennai: Lanco Infratech Limited (LITL), having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure is the...

Lanco gets contract for 1 X 660 MW Supercritical Ennore Thermal Power Station Expansion Project

Chennai: Lanco Infratech Limited (LITL), having business verticals viz. EPC, Power, Solar, Natural Resources and Infrastructure is the successful bidder for the prestigious 1 X 660 MW Supercritical Ennore Thermal Power Station Expansion Project – EPC contract of about Rs 3,960 Cr from Tamil Nadu Generation and Distribution Corporation Limited, Chennai. 

The confirmation letter was handed over to L Madhusudhan Rao, Executive Chairman of Lanco Infratech Limited.  The Letter of Intent would be issued shortly as confirmed by Tamil Nadu Generation and Distribution Corporation Limited.

Interestingly, this comes in the wake of Metro rail terminating the contract of Lanco Infratech Limited due to delay in execution of work on the 5.2 km stretch between Officers’ Training Academy (OTA) and Chennai airport.  

The contract was terminated due to inordinate delay by the company in executing the work. The company was awarded the contract for Rs 178.94 crore in August 2011 for the construction of the elevated stretch between OTA and Chennai airport.

writingonblog uncensored: Congress vows to revive Kamaraj legacy

writingonblog uncensored: Congress vows to revive Kamaraj legacy: Chennai: A section of Congressmen on Wednesday proclaimed Union Shipping Minister G K Vasan as heir to carry out former chief mini...

Congress vows to revive Kamaraj legacy

Chennai:

A section of Congressmen on Wednesday proclaimed Union Shipping Minister G K Vasan as heir to carry out former chief minister K Kamraj’s legacy as the official function to rename Ennore Port as Kamarajar Port turned to be a political one.

The function, which began with Vasan sharing the dais with port officials from Ennore Port, Chennai Port and VOC Port in Tuticorin, suddenly took a political tenor after Ennore Port was named Kamarajar Port.

Congress leaders from across the state were invited to share the dais with Vasan as the port officials vanished into the audience.

There was also some commotion as many of the Congressmen needing attention wanted to share the limelight and made a headway towards the dais.

The Congressmen in the dais while given the opportunity to address the audience vowed to revive the legacy of Kamraj. They also paid glowing tributes to Vasan and even called him the heir to carry forward the legacy of Kamraj.

Former MLA Vasanth Kumar while highlighting the role of Kamraj wanted him to lead the Congress party. Congress sitting MLA Vijay Dharini while taking Congress credit for mid-day meal scheme wanted Vasan to revive the legacy of Kamraj in the state.

Earlier, the minister hailed the decision to rename the port after former chief minister K Kamraj and said the name was changed after getting representations from various organizations.

He also stated that Kamrajar port will be entering into concession agreement with Adani Ports and SEZ ltd for development of container terminal at an estimated cost of Rs 1270 crore

writingonblog uncensored: A peek into Japan’s Geisha culture

writingonblog uncensored: A peek into Japan’s Geisha culture: C Shivakumar Chennai: Chennai may be new to Japanese traditional artists Ryoka and Tomitae but the duo enthralled the audience by pe...

A peek into Japan’s Geisha culture

C Shivakumar

Chennai:

Chennai may be new to Japanese traditional artists Ryoka and Tomitae but the duo enthralled the audience by performing dances and also enlightening with languages spoken in Kyoto, the capital of ancient dynasties of Japan.

Twenty-year-old Ryoka and 18-year-old Tomitae, who are on a maiden visit to India, are known as Maiko, which means they are apprentices of Geisha.

“We have never been to India or Chennai. We only knew it as being part of India,” says Ryoka, who is undergoing training to graduate into Geisha, a traditional female artist accomplished in Japanese art such as tea ceremony, flower arrangement and dancing.

Interestingly, Geishas are becoming extinct in Japan. There are around 200 Geishas in Kyoto. “Although, there is enthusiasm among young girls but it requires them to be mentally and physically strong besides the profession is not rewarding monetarily,” says 61-year old Reiko Tomimori, who is part of the delegation.

“Every year, 50 maikos are selected to be trained as Geishas. During the training, the girls don’t have access to phones besides they can visit their families only twice,” says Tomimori.

Ryoka and Tomitae performed two dances. The first dance was called ‘Plenty of Pine Trees’ and the second ‘The Garden of Imperial Court.’ “Pine is considered auspicious in Japan. It brings in happiness in life,” says Tomimori.

The girls wore heavy make up and were dressed in kimonos which could weigh atleast 10kgs. Tomimori says the duo are wearing white-painted make-up besides pair of wooden sandals which are about 10 cm high.

Ryoko and Tomitae also had elaborate hair decorations, called Kanzashi, which represents the transition of seasons in Kyoto. The main Kanzashi is called ‘Daikan’ and is placed at the front of her chignon. She says there is a different motif every month.

Tomimori says that there is no retirement age for Geisha. They leave the profession if they get married. Some still work beyond 80, she says.

Interestingly, during the performance there had been technical glitches but it did not deter the artists from Japan from performing much to the delight of the audience.

Tomimori rejects Geishas now have anything to do with sex. They are the keepers of Japan’s traditional arts, she says. “I hope the tradition does not die out,” she adds.

writingonblog uncensored: Man who restored Pamban Bridge after 1964 cyclone ...

writingonblog uncensored: Man who restored Pamban Bridge after 1964 cyclone ...: Chennai: The 100-year-old Pamban Bridge’s navigational span of 88 metres would have survived the December 1964 cyclone but an expert...

Man who restored Pamban Bridge after 1964 cyclone says it is time to think of replacing Scherzer Span

Chennai:

The 100-year-old Pamban Bridge’s navigational span of 88 metres would have survived the December 1964 cyclone but an expert says that it is time to think of replacing the historic Scherzer span that has served its life.

Addressing reporters here on Monday after opening a photo exhibition, a nostalgic E Shreedaran, principal advisor of Delhi Metro, said that Scherzer Span,named after William Scherzer who designed the span, has lived its utility and it can be replaced using modern technology.

Shreedharan, who created history by restoring the Pamban Bridge within 46 days after it was destroyed by a cyclone in 1964 said that it is expensive to raise the bridge as it would cost minimum Rs 1,000 crore.

He also said that it is possible to replace the steel girders in Pamban bridge with the concrete girders. Interestingly, Shreedharan has been involved in three key projects of the country. These include the Delhi metro project, Konkan Railways and restoration of Pamban bridge.

But it is the Pamban bridge restoration in 1964 that is close to his heart. He says the railways initially thought it was not worthwhile to restore the bridge and plans were on to build a road bridge. However, the railways then agreed to restore the bridge and gave a six month deadline to complete the work.

But then the Southern Railways general manager B C Ganguli had other plans and he asked his then executive engineer Shreedharan to finish the work in three months.

“We finished it in 46 days,” says Shreedharan adding that he worked with excellent team of engineers including labour force from Kerala. “it is a divine dispensation that I had the opportunity to restore the bridge,” Sreedharan said.

To a query on whather he prefers Chennai to go in for monorail or metro rail, Shreedharan said that Monorail should serve as a feeder service while the main corridors of the city should be metro.

writingonblog uncensored: Chennai Central Excise collected revenues worth Rs...

writingonblog uncensored: Chennai Central Excise collected revenues worth Rs...: Chennai: Chennai Central Excise Zone has collected revenue worth Rs 14,445 crore this financial year till January 2014. Speaking dur...

Chennai Central Excise collected revenues worth Rs 14,445cr

Chennai:

Chennai Central Excise Zone has collected revenue worth Rs 14,445 crore this financial year till January 2014.

Speaking during an event to mark the Central Excise Day, R  Shakuntala, Chief Commissioner of Central Excise, Chennai Zone hailed the achievement of the officers of the Central Excise Department for their hard work, efforts on simplification and rationalization of tax rates and procedures, greater use of Information Technology and improved service delivery standards, which have contributed substantially to the tax buoyancy.

She also gave away Appreciation Certificates to 23 Top Assesses of Central Excise and Service Tax in recognition to their contribution to the government exchequer.  Last financial year Chennai Central Excise zone has collected revenue around Rs 17,000 crore.

A Navaneethakrishnan, Chairman, Tamil Nadu Public Service Commission, C Santhanam, cine actor and S Ramesh, chief commissioner of customs were present during the occasion.

Lt Gen Jagbir Singh is new chief of ATNK&K

Chennai:

Lieutenant General Jagbir Singh took over the command of Andhra, Tamil Nadu, Karnataka and Kerala area here on Monday.

He is a 1978 batch officer and was commissioned in 8 Mechanized Infantry (7 Punjab).

He was awarded Sena Medal for gallantry in the Jammu and Kashmir (J&K). The General Officer commanded an Infantry Division on the Western Front.

The General Officer has varied exposure in different command as staff appointments including the Perspective Planning Directorate and Master General Ordnance Branch in the Army Headquarters.

writingonblog uncensored: Nissan to discontinue X-Trail, 370z

writingonblog uncensored: Nissan to discontinue X-Trail, 370z: CHENNAI: Nissan will discontinue the sales of the X-Trail SUV and 370Z coupe in India. The move comes in the wake of Nissan’s decision t...

Nissan to discontinue X-Trail, 370z

CHENNAI: Nissan will discontinue the sales of the X-Trail SUV and 370Z coupe in India. The move comes in the wake of Nissan’s decision to focus on its locally manufactured models. 

However, it will continue to sell the Teana luxury sedan.

Nissan currently sells the Micra Active, Micra, Sunny, Evalia and Terrano in India, all of which are manufactured at the company’s manufacturing facility in Oragadam, Chennai. The company plans to concentrate on products tailored for India and delivering more value along with world class quality to its customers.

In India, Nissan has been constantly expanding its innovative and exciting product range, and will continue to deliver cutting-edge technology, distinctive design and a rewarding experience to all its customers. Terrano, Nissan’s latest offering marks its entry in the growing compact SUV segment.

writingonblog uncensored: Five km underground stretch to be opened by end of...

writingonblog uncensored: Five km underground stretch to be opened by end of...: C Shivakumar Chennai: Chennai Metro Rail would commence its underground operations in the five kilometre stretch between Koyambedu...

Five km underground stretch to be opened by end of 2015

C Shivakumar

Chennai:

Chennai Metro Rail would commence its underground operations in the five kilometre stretch between Koyambedu and Shenoy Nagar by the end of 2015 and the entire stretch would be completed by the end of 2016.

Chennai Metro Rail general manager (underground construction) and Chief general manager Somasundaram told reporters, who had assembled to tour the underground stretch between Shenoy Nagar and Anna Nagar Tower station, that the underground stretch operations would be done phase wise. In the first phase we will commence operations in the 5km stretch by 2015 end, they said.

Currently, Chennai Metro Rail has completed the 1.5 km stretch between Shenoy Nagar and Anna Nagar and the experience travelling 20 metres below Chennai in a German locomotive was a marvel.

Empowered with the best technology from across the world, including France, Hong Kong, Japan and India, and the tireless efforts of 1,500 Indian workers the first phase of the five kilometre stretch is progressing smoothly.

“We will be starting the work from Anna Tower to Tirumangalam in the next two months. The two tunnel boring machines which have finished the work till Anna Towers will be moved to start working towards Tirumangalam,” said V K Singh.

He said that after VeeCare Hospital in Tirumangalam, the tunnel will end and a ramp will be built connecting the elevated stretch.

Interestingly, nearly 40 per cent work in the underground stretch, including the stations has been completed, says Ron Michael, deputy project director for Embeye (General Consultants).

The underground stretch has lot of challenges for metro rail despite having the best of technical expertise. Ron says the challenge is the mixed terrain. At times the soil is soft and then rocky. Surprisingly, Chennai Metro Rail had a deadline of six months to drill the stretch between Nehru Park and Chennai Egmore. But the terrain was rocky and the tunnel boring machine took nearly 18 months to drill the 900 stretch. “The problem was we have to replace the cutters every now and then,” said Somasundaram.

Singh said Chennai Metro Rail would restore the Thiru Vi Ka Park and it would be more beautiful than it was earlier

writingonblog uncensored: TN to promote new auto clusters in Thoothkudi, Tir...

writingonblog uncensored: TN to promote new auto clusters in Thoothkudi, Tir...: Chennai: Tamil Nadu government plans to promote new auto clusters in Tirunelveli, Thoothkudi and Tiruchirapalli, according to Tamil Nadu...

TN to promote new auto clusters in Thoothkudi, Tirunelveli, Tiruchy

Chennai:

Tamil Nadu government plans to promote new auto clusters in Tirunelveli, Thoothkudi and Tiruchirapalli, according to Tamil Nadu Automobile and Auto Components Policy 2014.

The new policy document states that the existing auto clusters in Madurai and Coimbatore will be strengthened besides SIPCOT will promote Auto Industrial Parks in Coimbatore, Tiruchirapalli, thoothkudi and extend all infrastructure and other common facilities to attract more investment from small and medium auto component industries.

The document also assures the investors that the state will have adequate power with the creation of 6,200 MW of power by the end of 12^th plan period to meet the growing demands of the industry.

“If the power requirement is in excess of 25 MVA, then state electricity board will provide a substation depending upon the power requirement at its cost and the land for the substation will have to be provided by the developer agency free of cost.

The high tension power consumers will be facilitated to procure required power within their sanctioned demand from generators within the state and other states and also from power exchanges on payment of necessary open access charges

writingonblog uncensored: TN to set up auto panel to advise govt

writingonblog uncensored: TN to set up auto panel to advise govt: Chennai: Tamil Nadu government will set up an ‘Automobile and Auto Components Consultative Committee’ under the Industries Minister ...

TN to set up auto panel to advise govt

Chennai:

Tamil Nadu government will set up an ‘Automobile and Auto Components Consultative Committee’ under the Industries Minister and leading industrialists and industrial bodies to discuss major issues confronting the industry.

The proposed committee which will meet periodically will also discuss major issues confronting the industry and advise government on remedial measures needed.

The panel would have representation from The Automotive Component Manufacturers Association of India (ACMA), Society of Indian Automobile Manufacturers, Confederation of Indian Industry and others.

The government will also encourage setting up of Integrated Ultra Mega Automobile Projects either new or expansion, Ultra Mega and Super Mega Auto and Auto Component projects by offering rebate in cost of land procured from SIPCOT at 10 per cent and five per cent respectively.

Automobile hubs and clusters will be incentivized by providing 50pc stamp duty concession and additional capital subsidy of 50pc.

The government in order to enhance the skills of ITI students will set up Industry-Interaction Cell in each polytechnic college besides promoting an Auto Industry Training Institute on public private partnership mode to produce skilled labour employable by the auto industry.

President concerned over India’s GRE

Chennai:

India’s gross enrolment ratio (GRE) may have increased from .6 per cent to seven per cent but it has failed to enthuse the Indian President Pranab Mukherjee who feels the country is way behind Germany and United States.

Delivering the First Convocation Adress of Indian Maritime University, the Presient said the the country has to cover many miles in higher education sector to compete with countries like US and Germany.

“India is still behind Germany and the US, whose enrolment ratios stood at 27 per cent and 37 per cent respectively,” the President said.

Urging the students to serve the society and the country, Mukherjee said that the students should remember that the education and teaching was received with huge investment from public resources. “You are indebted to the society, alma mater and the country,” the President said.

The President also said that he is aware of Indian Maritime University’s teething problems including many unfilled faculty positions. He said that IMU should try to become Centre of Excellence in medium term.

Stressing on the need to improve the quality of maritime personnel, he said that India should try to increase the share of seafarers in the global arena.

Union Shipping Minister G K Vasan said that his ministry has plans to open maritime institutes in Karnataka, Goa and Odisha. The target is to improve the share of Indian seafarers in the global arena from six per cent to nine per cent, he said.

Indian Maritime University vice chancellor K Ashok Vardhan Shetty expressed regret in holding IMU’s first convocation. He said a total of 1,339 candidates from 2009-10 batches onwards, who have passed all their exams before October 31, 2013 were awarded undergraduate and post graduate  degrees and post graduate diplomas

writingonblog uncensored: TN to permit employment of women in night shifts

writingonblog uncensored: TN to permit employment of women in night shifts: Chennai: Tamil Nadu will permit employment of women in night shifts besides accord permission to flexibility in hiring contract labour, ...

TN to permit employment of women in night shifts

Chennai:

Tamil Nadu will permit employment of women in night shifts besides accord permission to flexibility in hiring contract labour, according to the new state industrial policy.

The policy document states that flexibility in labour laws will be adopted without compromising on labour welfare.

Tamil Nadu also proposes to reserve 10 per cent of land area for promotion of social infrastructure like housing, service apartments, hospitals, restaurants in the industrial parks.

The policy document states that developers of industrial parks, special economic zones, industry clusters would be provided incentives to set up desalination plants, waste water treatment and recycling plants.

The government will also encourage industries to undertake large waste water treatment and recycling plants on public private partnership mode for treating urban sewage to industrial grade water

writingonblog uncensored: New industrial policy woos investments in southern...

writingonblog uncensored: New industrial policy woos investments in southern...: Chennai: In a bid to woo investments in the southern districts, Tamil Nadu government has come out with a special package for nine d...

New industrial policy woos investments in southern districts

Chennai:

In a bid to woo investments in the southern districts, Tamil Nadu government has come out with a special package for nine districts under its new industrial policy.

The policy document states that the package for the nine southern districts – Thoothkudi, Theni, Tirunelveli, Madurai, Virudhnagar, Dindigul, Sivaganga, Ramanathapuram and Kanyakumari – would be higher than the package available for other districts.

Investments worth Rs 500 to Rs 1500 crore is needed to avail of incentives under mega project in Chennai, Tiruvallur and Kancheepuram districts and Rs 350 crore to Rs 1,000 crore for remaining 20 districts.  But to get a mega project status and avail incentives in the southern district, the investor has to invest above Rs 200 crore.

Interestingly, the government is also providing a back-ended capital subsidy and electricity tax exemption for investments in the southern districts besides 50 per cent stamp duty concession for projects located other than industrial parks promoted by SIPCOT. In the case of ultra mega projects and the projects located in SIPCOT Industrial Parks this will be 100 per cent.

Interestingly, the state government is offering structured package of incentives for investment in southern districts by classifying projects into mega (Rs 200 to Rs 500 crore), super mega A (Rs 500 to Rs 1500 crore), super mega B (above Rs 1500 to rs 300 crore and generating employment of 350 in six years) and ultra mega (above Rs 3000 and creating employment of 500 in seven years).

These include net output value added tax and central sales tax paid will be given as investment promotion subsidy or soft loan for 10 years, 12 years, 14 years and 16 years as per the classifications from the date of commercial production. Investments below Rs 200 crore are also eligible for receiving Valu added tax (VAT) .

The government is also planning to allot lands for starting new industries in southern districts where lands in SIPCOT parks are not available. The policy document states that under this initiative, the minimum area required by the investing company shall be atleast 25 acres and the investment shall not be more than Rs 50 crore.

“The lands required by the company shall be barren, non-irrigated and dry land to the extent possible. Land requirement with more than 10 per cent of wet lands will not be entertained,” the document stated.

The state will also provide uninterrupted power supply to projects set up in southern districts if they are covered under memorandum of understanding besides special package of incentives to the new investments from the existing or prospective entrepreneurs in existing or new SIPCOT industrial parks

No more coins crisis for Chennaites!

Chennai:

If you don’t have loose coins to pay the bus fare or the bills in the grocery store, all you have to do is go to a coin vending machine to your nearest location and stock them up for your purchase.

Thanks to the initiative of Reserve Bank of India and banks across the country, the city will soon be having 65 coin vending machines (CVMs) at various bank branches.

J Sadakkadulla, regional director of RBI said that the move by the banks is expected to gain the popularity with public expected to look for coin vending machines the way they look for ATMs.

The coins will be available in denominations of Re 1, Rs 2, Rs 5 and Rs 10. Bankers say two or three denominations of coins will be dispensed. Interestingly, the maximum limit for using the coin vending machines is Rs 100.

Interestingly, eight banks have installed coin vending machines. Indian Overseas Bank chairman and Managing director M Narendra said that his bank would be installing 24 coin vending machines.

Thanking the RBI for encouraging the bank to install more coin vending machines, he said IOB will be on the lookout for more locations to install CVMs so that public are not put to inconvenience for want of coins.

Surprisingly, a foreign bank has also joined the initiative. Standard Chartered Bank official said they would also be setting up a coin vending machine in Anna Nagar. The new CVms are in addition to 120 coin vending machines already in use in Tamil Nadu.

Sadakkadulla said RBI is planning to bring Tanjore and Thoothkudi under the Lead Bank Scheme under which there will be no coin or currency shortage. Already the scheme has successfully being implemented in Karur, he said. Interestingly, RBI is also planning to bring all districts under the scheme.

Sadakkadulla said that banks are being incentivized for establishment of CVMs and machines which extend cash related retail services to the public