Tsunami hit Indian coast 1,000 yrs back: Study

October 1, 2014

New Delhi, Oct 1: Looking for data on past tsunamis for a better understanding of the natural phenomenon, a team of researchers has come upon evidence which suggests that the Indian coast was hit by a sea surge some 1,000 years back, before the tsunami of 2004 which caused massive destruction in the country.

TsunamiThe team from the Centre for Earth Sciences (CEaS) at the Indian Institute of Science (IISc) made its finding while pursuing studies in tsunami geology.

The team undertook search at different sites, including the Andaman group of islands (Hut Bay, Port Blair, Interview Island and East Island) and Kaveripattinam on the Indian east coast to collect evidence and study how the geomorphic settings of these locations make them useful archives for paleo-tsunami deposits.

Coastal strips affected by regular sea surges and by anthropogenic, or human, activities are unlikely to preserve tsunami sands whereas inland lakes and streams have a greater potential of preserving these records.

Due to their greater inland penetration, tsunami deposits tend to occupy higher elevations (>5m) as compared to storm deposits, which typically are at heights of less than 4m.

Researchers found that locally-extensive occurrence of deposits such as sand, gravel and boulders, and their typically upward and inland presence are the two important characteristics of tsunami deposits.

The research, which was published early this month in the Journal of Asian Earth Science, presents the results of studies along these coastal tracts, described as "sheltered environments", which show a higher likelihood of preserving such deposits.

The 2004 tsunami was a devastating and unprecedented experience for the Indian Ocean countries. In the absence of any known tsunami during recent or historic periods, one has to depend on geological records.

Such data is very critical towards evaluating tsunami hazards and tsunami geology is an important and fast-growing research area.

"We need to develop strategies to succeed in tsunami geology research in tropical countries with very active coastal regions that barely preserve anything beyond a few years at the most.

"Identification of potential locations is key to developing paleo-tsunami archives for tsunami hazard and recurrence studies," Gubbi Labs said quoting Kusala Rajendran, one of the authors of the paper and an Associate Professor at CEaS.

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Agencies
July 13,2020

New Delhi, Jul 13: The Income Tax Department has facilitated a new functionality for banks and post offices to ascertain TDS applicability rates on cash withdrawal of above Rs 20 lakh in case of a non-filer of the income-tax return and that of above Rs 1 crore in case of a filer of the income-tax return.

In a statement, the Central Board of Direct Taxes (CBDT) said that now banks and post offices have to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.

So far, more than 53,000 verification requests have been executed successfully on this facility, a statement by the CBDT said.

"CBDT today said that this functionality available as 'Verification of applicability u/s 194N' on www.incometaxindiaefiling.gov.in since 1st July 2020, is also made available to the Banks through web-services so that the entire process can be automated and be linked to the Bank's internal core banking solution," it said.

On entering PAN by the bank or the post office, a message will be instantly displayed on the departmental utility: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 1 crore", in case the person withdrawing cash is a filer of the income-tax return.

In case the person withdrawing cash is a non-filer of income tax return, the message shown would be: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 20 lakh and at the rate of 5 per cent if it exceeds Rs 1 crore."

The CBDT said that the data on cash withdrawal indicated that huge amount of cash is withdrawn by the persons who have never filed income-tax returns.

To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 with effect from July 1, 2020 further amended IT Act to lower threshold of cash withdrawal to Rs 20 lakh for the applicability of this TDS for the non-filers and also mandated TDS at the higher rate of 5 per cent on cash withdrawal exceeding Rs 1 crore by the non-filers.

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Agencies
March 3,2020

Facebook on Monday launched a new consumer marketing campaign in India titled 'More Together'. India is the first country in the Asia Pacific region where such a campaign is being rolled out.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

It is also the first time that Facebook is rolling out a 'high decibel campaign of this stature in India', the company said in a statement.

"India is at the heart of Facebook and one of our focus areas this year is to tell the exciting story of a service that is deeply embedded in the fabric of India," said Ajit Mohan, Vice President and Managing Director, Facebook India.

The campaign would have multiple campaigns over the next few weeks in eight languages and the one will be set in the context of Holi.

Facebook in 2019 introduced a new company logo to further distinguish the company from the Facebook app.

The company recently announced the appointment of Avinash Pant as the Marketing Director for India operations, to drive the consumer marketing efforts across the family of apps.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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