Moily approves launch of LPG connection portability across India

January 22, 2014

Moily_copy

LPG_connectionNew Delhi, Jan 22: Petroleum and Natural Gas Minister Dr. M. Veerappa Moily, has approved the launch of portability of LPG connections from today onwards across oil marketing companies and distributors, covering 480 districts in the country.

These districts cover all possible LPG markets which have multiple LPG distributors of various ratings.

With this, an LPG consumer in these markets can now switch to the distributor of his/her choice within a cluster of LPG distributors in the vicinity under the LPG Connection Portability Scheme.

This measure will bring great relief to those LPG consumers who are unhappy with the services of their current distributor or want to move to an LPG distributor closer to their home.

As a pilot project, the Oil Marketing Companies (OMCs) together launched LPG connection portability scheme in 24 districts covering 13 states in October 2013.

Today, this scheme is being launched on a full-fledged all-India basis by expanding its coverage to over 480 districts and a population of over 8.2 crore LPG consumers across the country.

In order to facilitate LPG consumers to benefit from the portability scheme, the OMCs have made more than 1,400 clusters distributors in over 480 districts with an average of almost 4 distributors per cluster to choose from.

The details about these clusters are available on the OMC websites. It has also been ensured that the portability scheme now covers all possible markets that are having distributors of multiple companies coupled with the scope for formation of clusters.

The procedure to opt for portability is very simple. To register for portability, the LPG consumers need to do the following:

Visit the website of the Oil Marketing company they are presently with

www.indane.co.in for IOCL

www.hpgas.com for HPCL, and

www.ebharatgas.com for BPCL

? Register themselves in the site, if not registered already

? See the distributors in the cluster and their star rating in terms of refill delivery performance

? Select the distributor of their choice from the cluster and submit request

? The consumer will receive an email confirming the registration and advising details of further procedure

? In case of Intra-Company portability request, i.e., within the same company, the LPG consumer has to visit only the new distributor with a copy of the email and get enrolled.

? In case of Inter-Company transfer, i.e. between two different Oil companies, since the LPG equipment is not compatible across companies, the consumer will have to visit the current distributor and surrender the cylinder and pressure regulator, collect the refund/transfer documents and then approach the distributor of his/her choice for reconnection by paying the same deposit as earlier.

? No Transfer fee or additional security deposit will be charged for transfer of connection under the portability scheme.

The success of this scheme lies in conferring the power with the consumer to be able to change the distributor and the oil company, which forces the distributor and oil company to perform and not in large number of portability requests.

This initiative is expected to usher in improvement in customer service by fostering healthy competition among each cluster of distributors. Proactive electronic tracking of every portability request is in place right up to its closure to ensure that LPG consumers do not face any difficulty in moving to the distributor of their choice.

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Agencies
January 12,2020

New Delhi, Jan 12: A fact-finding committee of the Congress on the JNU violence on Sunday said the January 5 attack inside the university campus was "state-sponsored" and recommended Vice Chancellor M Jagadesh Kumar be dismissed and criminal investigation initiated against him.

The Congress had appointed a four-member fact-finding committee to carry out a detailed inquiry into the violence at the Jawaharlal Nehru University (JNU).

Sushmita Dev, member of the committee, said the committee recommended that Kumar should be dismissed immediately and all the appointments in faculty should be probed and independent inquiry should take place.

"Criminal investigation must take place against the VC and faculty members and the security company," the Mahila Congress chief said.

"It is clear that the attack on JNU campus was state-sponsored," Dev said.

She also demanded a complete rollback of the JNU fee hike.

The other members of the fact-finding committee are Hibi Eden, MP and former NSUI president, Syed Naseer Hussain, MP and former president of JNU NSUI and Amrita Dhawan, a former NSUI president and ex-DUSU president.

On January 5 night, masked people armed with rods and sticks stormed the JNU campus and assaulted students and faculty members, and vandalised property, leaving several people injured.

Leftist outfits and the RSS-affiliated Akhil Bharatiya Vidyarthi Parishad (ABVP) blamed each other for the violence.

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Agencies
May 4,2020

Mumbai, May 4: Days after Facebook, private equity firm Silver Lake said it will invest 56.56 billion rupees ($746.74 million) in Reliance Industries's digital arm, giving it a valuation of 4.90 trillion rupees. Silver Lake on Monday agreed to pay Rs 5,655.75 crore to buy 1.15 per cent stake in the firm that houses billionaire Mukesh Ambani's telecom arm Jio.

The investment in Jio Platforms comes within days of Facebook investing USD 5.7 billion to buy a 9.99 per cent stake in Jio Platforms. The investment is at a premium of 12.5 per cent to the Facebook deal.

"This investment values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and represents a 12.5 per cent premium to the equity valuation of the Facebook investment announced on April 22, 2020," Reliance said in a statement.

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Agencies
January 15,2020

Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.

He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.

An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.

He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as Deputy Governor.

Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.

He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.

He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.

He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.

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