Tremors felt in Indian cities, buildings develop cracks

April 11, 2012

quake

Kolkata/Chennai, April 11: The Indian National Centre for Ocean Information Services (INCOIS) has issued Tsunami warnings for Indira Point, Great and Little Nicobar, Komatra and Katchal and Car Nicobar in the Andaman and Nicobar Islands. An alert has been issued for Little Andaman, North Sentinel Island, Flat Island and Port Blair and several places in Andhra Pradesh and Tamil Nadu.

Following the massive earth quake in Indonesia, tremors felt across West Bengal including the capital Kolkata in the afternoon around 2.14pm. Till now no major damage has been reported from any part of the state and the city but the tremor scared people who chose to rush out on the streets soon after feeling the quake.

In Kolkata, people working and staying in highrise buildings were the first to feel the tremor who ran down on the roads stricken by fear. The disaster management group of Kolkata Police was deployed in different parts of the city as a preventive measure. They mainly evacuated all the multi-storied buildings. People working in sector-V, the IT town of Kolkata were among the people who felt the tremor better than other citizens. Most of the IT majors asked the employees to vacate the building.

The huge rush on the roads caused traffic chaos and in several places cracks have been spotted in different buildings. APJ House, a known office building located on Park Street, developed major cracks. Members of disaster management group and fire brigade officials are taking stock of the damage to prevent further accident. "I was working on the 9th floor of the building. Suddenly for a few seconds I felt everything in front of me is shaking. Even my chair was also shaking. We took a couple of minutes to realise it as an earth quake and then rushed down," said Samik Banarjee, an IT employee at Salt Lake sector five.

Two high rises in central and south Kolkata reportedly leaned after the quake and experts rushed to the spot for inspection. Metro train services were also suspended for security. "After inspection of the tracks and system we will resume the service," said a Metro official.

Tremors have been felt in the hills of Bengal where little damage have been reported. However, no casualties have been reported so far. Officers of disaster management group are in touch with the officials of all the districts for update.

Two powerful after shocks following the first quake have created a Tsunami fear among the people in the coastal Bengal. District administrations in East Midnapore and South 24 Paraganas have asked people to move out from coastline for safety. Tsunami alert has been announced at Sagardwip and Kakdwip areas of Bengal coast.

Strong tremors in Chennai

Strong tremors were felt in several places in Tamil Nadu Wednesday following the massive earthquake in Indonesia, with people coming out of their homes and some schools moving students into open grounds.

According to reports, tremors were felt in Chennai, Madurai, Coimbatore, Nagapattinam and other areas. Coastal regions in the state have been put on high alert.

“I was lying on the floor reading a paper when I felt the shake. I immediately came out of the apartment and saw several others doing the same,” said W. Shobha, who lives in Chennai's Adyar area.

“We brought the children to the grounds once we felt the tremors,” a teacher at a leading school in South Chennai told IANS. The earthquake had its epicentre off the west coast of northern Sumatra and occurred at 2.08 p.m., the IMD said.

It led to a tsunami warning in 28 countries, including India, and brought back memories of the 2004 tsunami that saw more than 7,000 people being killed in Tamil Nadu's coastal areas.

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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News Network
June 25,2020

New Delhi, Jun 25: Diesel price in the national capital crossed the Rs 80 per litre-mark for the first time ever on Thursday as oil companies raised prices for the 19th day, taking the cumulative rate to Rs 10.63 a litre.

Petrol price, after a day's hiatus, was hiked by 16 paise and the increase in less than three weeks now totals Rs 8.66 per litre.

Petrol price in Delhi was hiked to Rs 79.92 per litre from Rs 79.76, while diesel rates were increased to Rs 80.02 a litre from Rs 79.88, according to a price notification of state oil marketing companies.

Diesel had for the first time become costlier than petrol in Delhi on Wednesday and has now crossed the Rs 80 per litre-mark.

Rates differ from state to state depending on the incidence of value-added tax (VAT).

However, diesel is costlier than petrol only in the national capital where the state government had raised local sales tax or VAT on the fuel sharply last month. It costs less than petrol in other cities.

The 19th daily increase in rates since oil companies on June 7 restarted revising prices in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to fresh highs.

In 19 straight days, diesel price has gone up by Rs 10.63 per litre. Petrol price has been hiked on 18 occasions since June 7 and now totals to Rs 8.66 a litre.

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News Network
February 27,2020

New Delhi, Feb 27: Congress leader Priyanka Gandhi Vadra on Thursday attacked the government over the transfer of Delhi High Court Judge S Muralidhar, saying the Centre's attempts to "muzzle" justice and "break people's faith in an upright judiciary are deplorable".

Delhi HC Judge S Muralidhar was transferred to the Punjab and Haryana High Court, days after the Supreme Court collegium made the recommendation.

"The midnight transfer of Justice Muralidhar isn't shocking given the current dispensation, but it is certainly sad & shameful," Priyanka Gandhi tweeted. "Millions of Indians have faith in a resilient & upright judiciary, the government’s attempts to muzzle justice & break their faith are deplorable," she said.

The judge was hearing the Delhi violence case and the late evening notification came on the day when a bench headed by him expressed "anguish" over the Delhi Police's failure to register FIRs against alleged hate speeches by three BJP leaders.

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