Friday, February 13, 2009

Railways earnings go up by 13.17%

Date : Feb-12-2009 10:46
The railways earnings between April 2008-January 2009 stood at Rs 64,876.34 crore as compared to Rs 57,327 crore in the corresponding period last fiscal registering a growth of 13.17 per cent. In line with this, the total goods earnings have gone up to Rs 44,016.26 crore during April to January this fiscal as against Rs 38,734.12 crore for the same period last fiscal, posting a growth of 13.64 per cent.

The total passenger earnings during the period stood at Rs 18,042.82 crore from Rs 16,134.94 crore during the same period last fiscal, registering a growth of 11.82 per cent. The earnings from other coaching were Rs 1639.42 crore during the period compared to Rs 1539.31 crore during the same period last fiscal, an increase of 6.50 per cent. The total sundry earnings grew to Rs 1,177.84 crore from Rs 918.63 crore during April-January 2008, showing an increase of 28.22 per cent.

Reliance announces change in SIP registration process for new investors

Date : Feb-12-2009
Reliance Mutual Fund has announced the change in the Systematic Investment Plan (SIP) registration process for the new investors, with effect from February 11, 2009. For the new investors an additional feature has been decided to introduce wherein the investors can start an SIP directly without any initial investment. In line with this, the investors in this option can submit the application for SIP on any working day but the subsequent installment date of SIP shall be 2nd/ 10th / 18th /28th with a minimum gap of at least 21 working days between the submission of application form and the 1st SIP as may be specified by RCAM from time to time. The subsequent installments should have a gap of atleast a month or a quarter depending upon the frequency chosen. If the installments date is a non-working day for the scheme then the units shall be allotment on the next working day. The said feature shall be made available in all the schemes where as the SIP facility is available as per the offer document/scheme information document/addendum of Reliance Mutual Fund.

Coromandel Express derails in Orissa; 16 dead, 161 injured

JAJPUR ROAD (ORISSA): Within hours after railway minister Lalu Prasad gloated over his safety record during his budget speech in Parliament on Friday, one of the country’s flagship expresses crashed out of its tracks.


Sixteen passengers were killed and 161 injured when 13 bogies of the Chennai-bound Coromandel Express from Howrah derailed while changing tracks in Orissa's Jajpur district.

General manager East Coast Railway Ajay Kumar Goel confirmed the casualties and said that 13 bogies of express train, which was running at a high speed, derailed just after it passed through the Jajpur Road railway station with the engine overturning last evening.

Goel who inspected the accident site told PTI that of the 13 bogies, 11 were sleeper class and two general.

Director General of Police Manmohan Praharaj said that the accident occurred while the express train was changing tracks outside the station.

The engine of the train went onto one track and capsized, while the bogies which remained on another derailed and scattered in all directions, he said.

Passengers who were on the train spoke of feeling a number of sharp jerks moments before the accident at around 8:00 pm suggesting that the driver applied the brakes.

The wheels and springs of the bogies lay in all directions 200 to 300 metre away from the spot, a PTI correspondent on the scene saw. One of the 13 bogies had climbed onto another.

Rescue teams were engaged in the operations on a war footing equipped with gas cutters under the supervision of senior railway, police and district administration officials.

Though rescue operations were initially affected due to the darkness, flood lights were rigged up soon.

Orissa Disaster Rapid Action Force (ODRAF) teams joined the rescue operation with high-tech equipment.

Before the police arrived on the scene volunteers at the Satyasai Seva Sadan nearby who were at prayer at the time rushed to the accident spot.

Local people also arrived on the spot armed with ladders. They broke open compartment windows and pulled out dazed passengers.

East Coast Railway general manager A K Goyal along with senior railway officials rushed to the site, while Railway Board chairman S S Khurana was likely to visit the spot.

As directed by Orissa Chief Minister Naveen Patnaik, Finance minister Prafulla Ghadai and Women and Child Development minister Pramila Mallick, both of whom belong to Jajpur district, rushed to the site.

Lalu Prasad Yadav said he would order a probe and despatched minister of state R Velu to the spot. The ministry announced compensation of Rs 5 lakh and a job to families of those killed, and Rs 50,000 for the injured. The death toll could rise, officials feared, since many passengers were still trapped in the overturned coaches.

"Suddenly there was a lurch and a screeching sound, as if brakes had been applied. The train shook violently from side to side and we were thrown off our berths," said Rajendra Singh, a passenger in S-5 coach, who survived unscathed.

"There was a tumbling sensation as everything seemed to be turning upside down. After what seemed a long time, the rolling and screeching stopped," he said over phone from the accident spot. The badly damaged coaches were S-1 to S-3 and S-6 to S-8, he added.


Soruce: http://timesofindia.indiatimes.com/Coromandel-Express-derails-16-dead/articleshow/4127949.cms

Coromandel Express derails in Orissa; 16 dead, 161 injured

JAJPUR ROAD (ORISSA): Within hours after railway minister Lalu Prasad gloated over his safety record during his budget speech in Parliament on Friday, one of the country’s flagship expresses crashed out of its tracks.

Sixteen passengers were killed and 161 injured when 13 bogies of the Chennai-bound Coromandel Express from Howrah derailed while changing tracks in Orissa's Jajpur district.

General manager East Coast Railway Ajay Kumar Goel confirmed the casualties and said that 13 bogies of express train, which was running at a high speed, derailed just after it passed through the Jajpur Road railway station with the engine overturning last evening.

Goel who inspected the accident site told PTI that of the 13 bogies, 11 were sleeper class and two general.

Director General of Police Manmohan Praharaj said that the accident occurred while the express train was changing tracks outside the station.

The engine of the train went onto one track and capsized, while the bogies which remained on another derailed and scattered in all directions, he said.

Passengers who were on the train spoke of feeling a number of sharp jerks moments before the accident at around 8:00 pm suggesting that the driver applied the brakes.

The wheels and springs of the bogies lay in all directions 200 to 300 metre away from the spot, a PTI correspondent on the scene saw. One of the 13 bogies had climbed onto another.

Rescue teams were engaged in the operations on a war footing equipped with gas cutters under the supervision of senior railway, police and district administration officials.

Though rescue operations were initially affected due to the darkness, flood lights were rigged up soon.

Orissa Disaster Rapid Action Force (ODRAF) teams joined the rescue operation with high-tech equipment.

Before the police arrived on the scene volunteers at the Satyasai Seva Sadan nearby who were at prayer at the time rushed to the accident spot.

Local people also arrived on the spot armed with ladders. They broke open compartment windows and pulled out dazed passengers.

East Coast Railway general manager A K Goyal along with senior railway officials rushed to the site, while Railway Board chairman S S Khurana was likely to visit the spot.

As directed by Orissa Chief Minister Naveen Patnaik, Finance minister Prafulla Ghadai and Women and Child Development minister Pramila Mallick, both of whom belong to Jajpur district, rushed to the site.

Lalu Prasad Yadav said he would order a probe and despatched minister of state R Velu to the spot. The ministry announced compensation of Rs 5 lakh and a job to families of those killed, and Rs 50,000 for the injured. The death toll could rise, officials feared, since many passengers were still trapped in the overturned coaches.

"Suddenly there was a lurch and a screeching sound, as if brakes had been applied. The train shook violently from side to side and we were thrown off our berths," said Rajendra Singh, a passenger in S-5 coach, who survived unscathed.

"There was a tumbling sensation as everything seemed to be turning upside down. After what seemed a long time, the rolling and screeching stopped," he said over phone from the accident spot. The badly damaged coaches were S-1 to S-3 and S-6 to S-8, he added.
Soruce: http://timesofindia.indiatimes.com/Coromandel-Express-derails-16-dead/articleshow/4127949.cms

Sensex gains 169 pts on interest rate cut hopes

MUMBAI: Snapping a two-day falling streak, the Bombay Stock Exchange benchmark Sensex on Friday gained nearly 169 points on fund-based buying in bluechip stocks led by metals, banks and auto firms on hopes of interest rate cuts.

The Sensex, which remained weak in the last two trading sessions, bounced back by 168.91 points at 9,634.74 as major banking stocks surged on expectations that the central bank may cut interest rates to boost growth. The key index touched the day's high of 9,695.59 and a low of 9,540.60 points.

Similarly, the 50-share National Stock Exchange index Nifty rose 55.30 points to 2,948.35. It moved between 2,969.75 and 2,896.85 points.

Trading sentiment turned bullish after inflation figures on Thursday showed a one-year low, prompting speculation that borrowing costs will be lowered as industrial output declined in December.

The market also propped up on hopes of fiscal incentives in the interim budget on Monday, earning index-heaviest Reliance Industries handsome gains.

State Bank of India, the largest, PSU bank and a member of the Sensex group, rose to a month's high. HDFC Bank and ICICI Bank, two Sensex constituents, further fuelled the uptrend by recording fresh gains.

Source; http://timesofindia.indiatimes.com/Business/Sensex-up-169-pts-to-close-at-963474/articleshow/4124869.cms

Death for Pandher, Koli in Nithari case

GHAZIABAD: The Special CBI court pronounced death sentence to Nithari killings' convicts Surender Koli and Moninder Singh Pandher on Friday afternoon, calling the gruesome episode ‘rarest of the rare’ case.

While the counsel of victim's family, Khalid Khan termed the verdict as a "slap on the face of the CBI" which gave a clean chit to Pandher, the businessman's son Karandeep Singh said his father was innocent and he would appeal against the judgement in the Allahabad High Court, PTI reported.

In the final arguments this morning, the CBI had sought death penalty for Koli and left the quantum of punishment for Pandher for the court to decide as the agency had no charges against him in this case.

The judge, while pronouncing the sentencing, said, "No more penalty could be awarded to the accused persons otherwise they deserve more punishment as their act of murder and rape in this particular case was beyond all the canons of humanity."

After the court verdict, Pandher broke into tears while Koli remained unmoved.

With this verdict, at least one chapter of the Nithari serial rapes and killings, which had shaken the country's conscience and disgraced the Noida police, has ended on a positive note.

More than two years after the body parts of 19 children and young women, who had been sexually abused and mutilated, were found in a drain behind D-5 house in Noida's Sector 31, a Delhi suburb, the owner, Moninder Singh Pandher, was on Thursday evening convicted for kidnapping, raping and murdering 15-year-old Rimpa Haldar, besides chopping up and hiding her body in the drain.

His servant, Surender Koli was convicted on the same counts but for attempted rape instead of rape. During interrogation earlier, it had been reported that he was suffering from necrophilia which makes a person sexually attracted to corpses.

The two were also convicted for having criminally conspired to rape and murder Rimpa and hide her body to conceal evidence of the crime.

Special judge Rama Jain delivered the guilty verdict on Thursday and when the judge was reading out her order, Pandher and Koli — an odd couple with Pandher from an affluent and elite background whom no one ever suspected of having a darker side — were standing next to each other. Looking anxious and tense, they didn't speak. Pandher was, however, heard telling his son, who was biting his nails, that "Everything is destined, son." Pandher's son, Karan, and his wife rushed out of the court immediately after the verdict and disappeared.

This is the first verdict in Nithari's horror story —the CBI has so far filed chargesheets in 16 cases while three more are awaited. Significantly, the CBI had cleared Pandher of all charges that the Noida police had earlier booked him for except for buying sex and trying to protect Koli. It was on the court's order that Pandher was booked for rape and murder and eventually convicted.

"This case," said a beaming Anil Haldar, father of the victim, "has taken so many twists and turns since the chargesheet was filed on May 7, 2007, that we thought things will not work out. I did not trust the CBI. So I got my own lawyer, Khalid Khan."

Rimpa Haldar had gone missing on June 15, 2005. Anil Haldar had reported this to Noida's Sector 20 police station but the cops registered a kidnapping case only on July 7. They were quite used to telling Nithari villagers complaining about their missing children, mostly girls, that they must have eloped.

After the Nithari killings were unearthed on December 29, 2006, with the discovery of the gunny bags in the drain which contained the gory, tell-tale evidence — the skulls stuffed in 57 gunny bags contained almost 700 pieces of bones — things started moving.

But with the Nithari victims' families not having any faith in the city police, the case was transferred to the CBI. It took charge of the case on January 11, 2007. Finally, the trial in the case of Rimpa began on July 4, 2007.

On February 2 last year, counsel for Anil Haldar Khalid Khan produced documents in which Pandher had been accused of paying bribes to police officers to hush up the case against him. Area police post chief Simranjit Kaur had even been arrested for accepting bribes from Pandher; she remains in jail. Also, Anil Haldar deposed in court to say that Pandher had led to the recovery of a saw used in the murders, in his presence.

So, on February 27 last year the court ordered that Pandher, too, should be booked for the rape and murders of six girls, including Rimpa.

On January 23 this year, the court summoned former Noida deputy superintendent of police Dinesh Yadav after Haldar told the court about some documents allegedly fabricated in the case to get Pandher off the hook.

Then, on January 27, sub-inspector RR Dixit, who had signed the recovery memo of the skulls and a saw, told Jain that both Pandher and Koli had led to the recoveries.

When it was denied that any such entry had been made in the case diary, Khalid Khan produced a copy of the application the Noida police made before a Noida judge, on December 30, 2005 to seek the remand of "both Pandher and Koli" to recover the weapons and any more body parts.

After this, things had become rather difficult for the CBI. The judge ordered the statements of RR Dixit and Dinesh Yadav to be recorded on January 30. On Thursday the guilty verdict was finally delivered and the death sentence was pronounced today.

Source: http://timesofindia.indiatimes.com/Death-for-Pandher-Koli-in-Nithari-case/articleshow/4121835.cms

Nokia to unveil app store, E75

HELSINKI: The world's top cellphone maker Nokia will unveil its new application store next week, hoping to follow the runaway success of Apple's App Store, two industry sources told Reuters.

One of the sources also said Nokia would unveil a new E75 cellphone model at the Mobile World Congress trade show in Barcelona. The phone, already on sale on the website of online retailer Expansys, will be available next month in Britain.

The smartphone, with a sideways slide-out full keyboard, will sell for 390 pounds ($563.6), while with an operator contract it will be free in Britain.

Nokia promised in early December to launch 'soon' its own download store, as the Finnish firm merges its current software Download store with free media sharing site Mosh and widget service WidSets.
"This will provide consumers an easy way to get mobile media for their device," Nokia said in December.


Soruce: http://infotech.indiatimes.com/News/Nokia_to_unveil_app_store_E75/articleshow/4123670.cms

43 new trains introduced


NEW DELHI: Railway minister Lalu Prasad Yadav on Friday announced the introduction of 43 new trains and kept freight rates unchanged.

During his tenure so far, 604 new trains were introduced, in addition to 105 local trains.

Ahead of the vote on account exercise, Yadav had inaugurated several railway-related projects in Bihar, and sanctioned projects worth Rs. 55, 000 crore in the past one month.

Between April 1 and January 31(2008-09), the Railways earned Rs 57, 282 crore compared to Rs 50,765 crore during the same period in 2007-08, registering an increase of 12.84 per cent.

The total revenue is expected to cross Rs.70, 000 crore this fiscal. Last year, the Railways' earned profits of nearly 20,000 crore.

The Indian Railways are the second largest railroad in the world under a single management, running more than 11,000 trains every day, 7,000 of which are for passengers.

The network comprises 108,706 km and ferries 14 million passengers daily from 6,853 stations across the length and breadth of the country. This is the reason why it is the only ministry that has a separate budget.

Soruce: http://timesofindia.indiatimes.com/India/43-new-trains-introduced/articleshow/4123391.cms

Lalu cuts mail, express, AC fares by 2%

NEW DELHI: Railway minister Lalu Prasad Yadav, who managed to keep passengers fares in check for the last five years, on Friday presented interim Railway Budget.

Departing from normal practice, Lalu Prasad announced an across-the-board 2% cut in fares of ordinary and AC class.

The interim budget makes no changes in relation to freight rates.

Normally, the interim budgets do not carry any financial proposals in view of the fact that it is a vote-on-account ahead of the general elections.

Recalling that he had decided to reduce the second class fares of all mail, express and ordinary trains by 5% for tickets above Rs 50 last year, Prasad said respecting the aspirations of the long distance passengers he has decided to reduce the second class and sleeper class fares of all mail and express and ordinary passenger trains by two per cent for the ticket costing more than Rs 50.

He said during the last four years, he had reduced the fares of AC First class by 28% and AC II tier by 20%.
Even as air travel is reportedly reflecting reduction in number of passengers due to economic slowdown, there has been a significant increase in the number of passengers of these classes on the Railways.

"Therefore, I have decided to reduce the fares of AC First Class, AC II tier and AC III tier and AC Chair Car by 2%," he said amidst thumping of desks by members of ruling benches in Lok Sabha.

The Minister said since the fare for rail travel for 10 km and below has already been reduced from Rs 4 to Rs 1, this reduction will not be applicable for second class rail journey upto 10 km.

Highlights
-All AC and Mail Express fares cut by 2%
- Freight rates kept unchanged
-Freight has grown at the rate of 8% in the past five years. Freight loading in the current year has come down due to economic downturn, because of which revenue has fallen. Otherwise it would have touched Rs one lakh crore.
- 43 new trains to start in 2009-10, extension of 14 trains envisaged and frequency of 14 trains to be increased.
- Kolkata Metro will be expanded
-Railways cash reserves touched Rs 90, 000 crore
-Railways have raised $100 million at 4% interest
- Railways expected to show a surplus of Rs 18,847 crore in the next fiscal.
-Feasibility study underway for bullet trains between Delhi-Amritsar, Ahmedabad-Pune, Hyderabad-Vijaywada- Chennai, Chennai-Bangalore, Delhi-Patna, Kolkata-Haldia and Ernakulam-Howrah.

-Dedicated freight corridor from Ludhiana to Kolkata to be inaugurated later this month
- Railway line between Anantnag and Rajwansher in Kashmir valley will be extended to Qazigund in four months
-4 call centres set up for railway enquiry
-Invested Rs 70, 000 crore out of surplus in last four years
-To invest Rs 2, 30,000 crore in the 11th Plan
-Decrease in the number of accidents in Railways since 2003
-Passenger volume likely to grow by around 7% over previous year
- Estimated freight earnings for next fiscal pegged at Rs 59,059 crore

Soruce: http://timesofindia.indiatimes.com/India/43-new-trains-introduced/articleshow/4123391.cms