www.thehansindia.com WARANGAL THURSDAY 31 MAY 2018 PAGES 20 `5.00 Forecast: More sun than clouds Temp: Max.40°C. Min.33°C. Humidity: 31% Sunrise: 05:35 Sunset: 06:43 H Simultaneously published from Hyderabad | Warangal | Tirupati | Amaravati | Visakhapatnam | Khammam | Kurnool | Delhi H RAMZAN TIMINGS WINDOWS Iftar Saher (Thu) 6.52 pm Babus on toes as Mission Moody’s cuts India’s Bhagiratha goes slow growth forecast (Fri) 4.10 am T P3 The full moon rises behind the columns of the ancient marble Temple of Poseidon at Cape Sounion, about 70 Km (45 miles) south-southeast of Athens, on Tuesday CBI raids Delhi Health Minister New Delhi: Delhi minister Satyendra Jain was raided by the CBI on Wednesday morning over alleged violation in the hiring of consultants for a government body that he oversees. Soon after the raids, a furious Chief Minister Arvind Kejriwal tweeted: "What does the PM Modi want?" Jain is the minister in charge of the Public Works Department (PWD) in Delhi's Aam Aadmi Party government. He has been accused of violating rules to hire a creative team for PWD. ‘Normal monsoon, better than 2017’ New Delhi (IANS): India is likely to receive a "better monsoon" than it did in 2017, with the entire country expected to see "normal rainfall" between 96 to 104 per cent from June to September, officials said on Wednesday. In 2017, the country received 97 per cent rainfall, which is considered normal. On Wednesday, the Met updated its prediction cutting down on the error estimate, thereby counting on better monsoon rains. S P7 he State government’s prestigious programme to supply drinking water to every household in Telangana, the Mission Bhagiratha, though attracted international attention, seems to have run into sort of trouble as some of the executing agencies are delaying the works. TS gets ready for PR polls in July Voter enumeration by mid-June OUR BUREAU arrangements for the conduct of elections. As the local body elecHyderabad: The Telangana govtions are being held on nonernment has hastened the official party basis, the Chief Secretary process for the conduct of Paninstructed the officials to pay chayat Raj elections by July end. more attention to maintaining State Chief Secretary SK Joshi on law and order in the politicallyWednesday instructed the Dissensitive areas in coordination trict Collectors to comwith the police departplete the enumeration ment. The officials of of voters and ﬁnalise the Panchayat Raj BC, SC and ST department were reservations withinstructed to anout any delay. The nounce the reChief Secretary served wards and has also set June panchayats under second week as BC, Sc and ST catedeadline for the pubgory at the earliest. lication of voters’ list in SEC Nagi Reddy The officials were also every poll-bound village. asked to seek public opinion The head of the state adminon the ﬁnalization of the reistration conducted a special served segments before anmeeting with the district authornouncing the list. ities at Chief Minister K ChanThe officials informed the drashekhar Rao’s camp office – Chief Secretary that the draft Pragati Bhavan here. electoral rolls for the local body Officials said that Joshi asked elections were ready. Continued on P4 the officials to make foolproof PETROL PRICE CUT BY OUR BUREAU Hyderabad/Amaravati: For bank account holders, it was a double whammy. The ATMs had gone dry and for two days beginning on Wednesday the banks have downed shutters in AP and Telangana as part of nationwide strike in protest against the Indian Banks Association’s offer of a mere two per cent hike in salaries. The account holders were caught off-guards when they saw operations at banks having come to a standstill and the employees out on the roads raising slogans for their beneﬁt, not bothering about the suffering they are causing to their customers. Of late, people are going to the banks for withdrawal of cash since ATMs had become duds and even this facility was not available for them. They now would have to wait till Friday for the banks to open and be “generous” to the customers in dispensing cash to them. A businessman Ravi Kiran who went to State Bank of India Koti branch was disappointed when he saw the bank being closed. “I was A day full of ridicule, angst, disbelief Hyderabad: Hyderabadis are known to be laidback and take things easy but the news of the reduction of petrol prices by one paisa has not gone down well. Even the social media was abuzz with memes mocking the decision by the government. On ground zero at the petrol pumps across the city, people shared their angst. Anish, a Swiggy scout said, “My job is to commute every day, and the prices are affecting us more than anyone else, in the month of January the price of petrol was Rs 78 and now it is Rs 83. It is shocking. Reduction of one paisa a rude joke.” Rahmat Bhai as he is affectionately called by autorickshaw owners at Chikkadpally said, “Even beggars do not accept one rupee coins these days. This is just a mockery. What else can I say.” At Punjagutta, Indian Oil petrol pump manager Raju said, “The reduction of one RUPEE ASHAMED! paisa is a good step. If the prices keep declining gradually, our business would go up. If the prices go up, there would be no customers. They might prefer buses.” The country woke up to the news that petrol price was reduced by 60 paise on Wednesday morning but the joy was short lived as the actual reduction was just 1 paisa and it was an error on the part of the In- oody's Investors Service on Wednesday cut India's 2018 growth forecast to 7.3 per cent from the previous estimate of 7.5 per cent, saying the economy is in cyclical recovery but higher oil prices and tighter financial conditions will weigh on the pace of acceleration. P9 Bank strike plays havoc 1 PAISA OUR BUREAU M dian Oil Corporation (IOCL) website. What followed was a day full of ridicule, angst, disbelief and became the talking point at restaurants, petrol pumps, offices and just about anywhere. Sahitya, a marketing professional, opined: “From Rs 70 to Rs 83 is a big change. I have noticed in such a short span of time, what would a decrease of one paisa do?” Common man hit, businesses hurt We are having problem with cash since the days of demonetisation. The situation has not improved ever since. This is creating a lot of problems to me. I need money to pay rent for my house, pay my housemaid and grocer. They will not wait – A bank customer caught unawares. I could not draw money from ATM as it had gone dry. Where do I get money now?”, he asks and points out that his business would be hit hard if he does not have cash on hand”. An account holder Sunita, who was at Central Bank of India, Koti, too was not expecting the banks to remain closed for two days: “It is very difficult for me without cash in hand. With banks on strike and ATM's having no money stashed in them, it is getting very difficult for me. I need money very badly now. Where would I get it?” she asks. A homemaker Anuradha who was looking forlorn at Punjab National Bank says: “We are having problem with cash since the days of demonetisation. The situation has not improved ever since. This is creating a lot of problems to me. I need money to pay rent for my house, pay my housemaid and grocer. They will not wait,” she said. In AP, people suffered with about 5,000 bank branches in all cities and towns having been closed. Last two days of the month are very important for many customers, traders and ﬁrms. Marketing executive of a private company M Raghuram said: "The bank strike is creating a lot of problems to me. I could not pay dues to my distributor." Continued on P4 FORMATION DAY VIDEOCON LOAN CASE ICICI to probe allegations against Kochhar Mumbai: ICICI Bank's Board of Directors has decided to institute a "comprehensive enquiry" to look into an anonymous whistle blower's complaint alleging that bank's MD and CEO Chanda Kochhar had not adhered to provisions relating to "code of conduct" of the bank. In a regulatory ﬁling on Wednesday, the bank said: "The Board of Directors, at its meeting held on May 29, 2018 decided to institute an enquiry to be headed by an independent and credible person, to examine and enquire into an anonymous whistle blower complaint and legal and regulatory provisions relating to "conﬂict of interest" over a period of time, as also alleging quid pro quo in the course of her work in dealing with certain customers/ borrowers of the Bank." The bank said the scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, "use of forensic/ email reviews and record of statement of relevant personnel, etc." Land prices zoom 20% across TS REALTY ON FAST-TRACK GROWTH P MADHUSUDHAN REDDY Hyderabad: Proving skeptics wrong to a large extent, real estate sector in Hyderabad and across Telangana bounced back with a renewed vigour in last four years, leading to signiﬁcant spurt in sales of open plots as well as ﬂats. The sector insiders say land prices went up by almost 20 per cent in the past one year alone while residential apartment space witnessed escalation in prices of as much as 30 per cent in the past four years. The sales have gone up by 10-12 per cent on an average every year since 2014. This should be music to Telangana government’s ears because many people expressed their apprehensions before bifurcation that realty sector would be doomed in the new State. But the sector is booming now. "Real estate sector is doing extremely well in Telangana. Realty boom has already started in Hyderabad. This is likely to continue for next three to four years. Land prices are going up everywhere as demand picked up," Chairman & Managing Director, Gowra Group of companies, and president, Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry, told The Hans India. Continued on P4 Tesla would love to be in India: Elon Musk He says tough rules holding back Tesla entry into India New Delhi: India has been wooing Tesla Inc to set up a factory on its soil, but billionaire Elon Musk isn’t falling for it. At least not yet. In a tweet, the Chief Executive Officer of the electric vehicle maker said a restrictive policy environment in India is proving to be a hurdle for local production. Earlier this month, the Palo Alto, California-based company moved a step closer to establishing a factory in China, which A restrictive policy environment in India is proving to be a hurdle for local production of Tesla cars would be its ﬁrst production facility outside US shores, as the Asian giant eases rules for carmakers such as Tesla. “Would love to be in India,” Musk said in the Twitter posting. “Some challenging government regulations, unfortunately,” he wrote, adding Tesla will enter the country as soon as chief ﬁnancial officer Deepak Ahuja, who is from India, believes it’s time. "Deepak Ahuja, our CFO, is from India. Tesla will be there as soon as he believes we should," added Elon Musk, also the SpaceX founder. Ahuja, a seasoned auto industry ﬁnance executive with 15 years’ experience at Ford Motor Company, joined Tesla Motors as Chief Financial Officer in 2010. Ahuja works out of Tesla's San Carlos headquarters. He quit Tesla in 2015, only to join it back in 2017. Last year, Elon Musk said Tesla's cars could come to India the summer but there has not been any further development. The CEO later blamed the FDI norms in India for delay in Tesla's entry into the Indian market. "Maybe I'm misinformed, but I was told that 30% of parts must be locally sourced and the supply doesn't yet exist in India to support that," he had tweeted. Despite Prime Minister Narendra Modi’s assertions that “more than 1,400 archaic laws that were an obstacle to doing business have been abolished,” Asia’s third-largest economy isn’t the top pick for many foreign investors. Musk said last year that Tesla was in discussions with the government, requesting temporary waiver of import penalties and other restrictions until a local facility is built.
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