Loading...

Top
Help
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback

Contact Us At :

E-mail: [email protected]

Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
Add to...
You have not created any category. Kindly create one to bookmark this item!
Create New Category
Hide
Title :
Description :
❮❮ Hide
Default View
Expand ❯❯
Close ✕
🔎 News - Adv. Search
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ----
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ----
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
    Rupee jumps 47 paise to 94.26 against US dollar in early trade
    ED raids multiple locations in Kolkata in bank loan fraud case
    Commerce & Industry Minister Shri Piyush Goyal Calls Upon Auto Component Industry To Go Global
    18th Meeting of Heads of IP Offices of BRICS Countries Held in New Delhi
    India’s Sovereign Credit Rating upgraded to 'A-' with Stable Outlook by Japan Credit Rating Agency
    Secretary, DFS Chairs Review Meeting on Financial and Business Performance of Public Sector General Insurance Companies (PSGICs)
    GIFT IFSC emerges as a strong and vibrant international banking hub, mobilises over $52.8 billion under RBI’s FCNR(B) Swap Facility, $11.62 bn in EC...
    Ex-CII executive Shuchita Sonalika appointed COO of Canada-India Business Council
    India's 7.8% growth despite global disruptions remarkable: FM Sitharaman at investors meet in US
    After 35 years, India's sovereign rating upgraded to 'A-' by JCR on solid growth, resilient financial system
    Rupee rises 22 paise to close at 94.73 against US dollar
    India draws record USD 127 bn forex deposit in special drive
    Banks mobilise USD 127.23 billion in deposits from Indian diaspora: RBI
    CBI Arrests CGST Additional Commissioner and Two others in Rs. 40 Lakh Bribery Case in Raigad, Maharashtra
    Haryana: SGST collections grow 29 pc in first 5 months of 2026-27
    Lokta Opens Its Agentic Loan Servicing Platform to NBFCs Up to Rs 100 crore, with No Platform Fee for Up to Two Years
    RTI seeks Aadhaar date-of-birth changes after pre-poll Bihar pension hike; UIDAI says no such data
    IC Electricals Secures Approx. ₹6 Crore Railway Orders and ₹1 Crore Export Order
    Additional Information related to GDP Estimates Received After Release of Q1 Estimates of FY 2026-27
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 3, 2026
Show AI Summary
Foreign-currency deposit mobilisation supports currency appreciation while creating surplus-liquidity sterilisation pressures through deposit swaps in domestic banking markets.
Foreign-currency deposit mobilisation strengthened foreign-exchange liquidity and supported rupee appreciation. FCNR(B) deposits, together with overseas foreign-currency borrowings and external commercial borrowings, increased aggregate foreign-currency resources. Bank swaps of such deposits with the central bank may create surplus banking-system liquidity and a sterilisation challenge, while oil prices, global yields, dollar movements and foreign equity inflows remain relevant currency-market factors.
September 3, 2026
Show AI Summary
Money laundering investigation examines alleged diversion of bank loans from a power project to group entities and personal use.
Money laundering investigation under the Prevention of Money Laundering Act concerns alleged diversion of bank loans obtained by Kohinoor Power for a power plant in Jharkhand. The loan proceeds were allegedly transferred to other group entities and used personally. Searches were conducted at eleven premises associated with the group's promoters, directors and auditors. The company entered liquidation proceedings before the National Company Law Tribunal, with limited recovery for creditors.
September 3, 2026
Show AI Summary
Globalisation of auto component manufacturing is linked to trade access, resilient supply chains, technology adoption, safety, and vehicle scrappage.
The auto component industry is encouraged to expand globally through reciprocal market access, overseas manufacturing, international investment and trade partnerships. Supply-chain resilience is to be strengthened through indigenisation of vulnerable products, access to critical minerals, and domestic capacity in auto components, speciality steel, technical textiles and semiconductors. Priority is also given to high-value integrated solutions, artificial intelligence-enabled quality control, vehicle safety and industrial parks offering manufacturing infrastructure. Vehicle scrappage requires coordinated government incentives and fair industry valuation to support replacement demand for new-age vehicles.
September 3, 2026
Show AI Summary
Updated IP cooperation guidelines strengthen cross-border innovation, patent examination coordination, traditional knowledge protection, and geographical indication commercialisation.
IP BRICS Heads adopted Updated Operational Guidelines to direct result-oriented intellectual property cooperation, promote cross-border innovation, and reinforce joint engagement in global IP standards. Priority areas include protection of traditional knowledge and traditional systems of medicine, reinforced patent examination cooperation, exchange of search results, patent analytics, and geographical indication protection and commercialisation. Coordination mechanisms and periodic progress reviews are emphasised for effective implementation and continuity of cooperation.
September 3, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient growth, improved fiscal expenditure quality, stronger financial systems, and a robust external position.
India's long-term foreign-currency and local-currency issuer ratings were upgraded from 'BBB+' to 'A-', with a Stable Outlook, reflecting resilient economic growth, improved fiscal expenditure quality, strengthened financial-sector soundness, and a robust external position. Fiscal improvement is linked to greater capital expenditure and lower fiscal deficit. Financial resilience is supported by improved banking and non-banking sector asset quality and capital adequacy. External strength arises from a contained current account deficit, services surplus, and foreign-exchange reserves exceeding short-term external debt.
September 3, 2026
Show AI Summary
Public sector general insurance performance requires profitable underwriting, lower claim ratios, digitalisation, standardised monitoring, and quality grievance redressal.
Public Sector General Insurance Companies were advised to focus on profitable business lines, reduce the Incurred Claim Ratio, and accelerate technology use and digitalisation while optimising related expenditure. They are to improve insurance penetration, density, outreach and customer awareness, particularly in underserved segments, while reducing protection gaps. A robust, standardised KPI framework should enable comparable financial and non-financial performance assessment and be reviewed quarterly. Customer grievances require expeditious and quality redressal.
September 3, 2026
Show AI Summary
Cross-border financing through GIFT-IFSC expands foreign currency mobilisation, external commercial borrowing disbursements, and international bond market access.
GIFT-IFSC's IBUs mobilised foreign-currency liquidity under the RBI's FCNR(B) deposit swap facility, with 20 IBUs sanctioning USD 54.02 billion and disbursing approximately USD 52.82 billion as at 31 August 2026. Between April and August 2026, IBUs disbursed USD 11.62 billion in External Commercial Borrowings, while Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges. These activities support cross-border financing, international capital-market access and foreign-exchange inflows.
September 3, 2026
Show AI Summary
Bilateral business council leadership appointment strengthens operational capacity to advance Canada-India economic and investment partnerships.
Operational leadership for bilateral economic engagement is strengthened through the appointment of Shuchita Sonalika as the first Chief Operating Officer of the Canada-India Business Council. The appointment is directed toward enhancing the council's capacity to support expanding investment and economic relations between Canada and India, in coordination with its board, members and partners. Sonalika brings international affairs experience in advancing India's economic partnerships across global markets.
September 3, 2026
Show AI Summary
Regulatory certainty and compliance reforms support investment facilitation, infrastructure development, MSME credit access, and reduction of bank non-performing assets.
Regulatory certainty, ease of compliance and investment facilitation are identified as central elements of India's economic reform orientation. The Insolvency and Bankruptcy Code is included among reforms supporting regulatory certainty, reduced paperwork and easier compliance. Policy priorities include infrastructure development, artificial intelligence and data centres, credit access for MSMEs, reduction of banks' non-performing assets, fiscal discipline, and investment facilitation by central and state governments.
September 2, 2026
Show AI Summary
Sovereign credit rating upgrade reflects resilient economic growth, fiscal quality, financial-system soundness, and external-sector resilience.
Japan Credit Rating Agency upgraded India's foreign-currency and local-currency long-term issuer ratings to A-, citing solid economic growth, strengthened growth-oriented policies and improved financial-system soundness. Improved banking asset quality, insolvency mechanisms, government capital infusion and stronger central-bank supervision support financial resilience. Fiscal quality has improved through greater infrastructure-focused capital expenditure and restraint in current spending, while a contained current-account deficit, services surplus and substantial foreign-exchange reserves support resilience to external shocks.
September 2, 2026
Show AI Summary
Currency-market intervention and foreign capital inflows supported rupee resilience amid higher crude prices and dollar strength.
Foreign capital inflows and modest foreign institutional equity purchases supported rupee appreciation against the US dollar despite weak domestic equities, elevated crude oil prices and a stronger dollar. RBI monitoring and apparent currency-market intervention supported the rupee amid risk aversion, higher US Treasury yields and concerns over crude supply disruptions. Forthcoming US employment data remained relevant to dollar and rupee direction.
September 2, 2026
Show AI Summary
Foreign-currency non-resident deposits bolster external liquidity through hedging support and lending flexibility during global market uncertainty.
Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits are fixed-term foreign-currency deposits for non-resident Indians, with principal and interest repayable in the deposit currency and without direct rupee exchange-rate risk. A special central-bank programme mobilised substantial FCNR(B) deposits, alongside overseas foreign-currency borrowings and external commercial borrowings, to strengthen foreign-exchange liquidity. Banks received hedging-cost support and permission to lend against the deposits. The facility was closed earlier than scheduled after its mobilisation objective was met.
September 2, 2026
Show AI Summary
Foreign currency swap facility accelerated FCNR(B) deposit window closure after substantial diaspora inflows, while borrowing windows remain open.
Special USD-INR foreign-exchange swap facility for FCNR(B) deposits, Overseas Foreign Currency Borrowings and External Commercial Borrowings was introduced to strengthen the external sector and support foreign-exchange liquidity. FCNR(B) deposits, under which principal and interest are repayable in the same foreign currency, generated the principal share of inflows. Strong diaspora participation led to advancement of the FCNR(B) window closure. The swap facility for Overseas Foreign Currency Borrowings and External Commercial Borrowings remains open until December 31, 2026.
September 2, 2026
Show AI Summary
GST bribery allegations led to a trap operation against officials and an intermediary in a quarrying matter.
Criminal investigation concerns alleged solicitation and acceptance of an undue advantage by CGST officials in connection with settling a GST/royalty matter involving a stone-quarrying firm. The officials allegedly arranged for a private person to collect the payment. A trap operation resulted in the private person being caught while accepting the alleged undue advantage. Searches at the accused persons' premises led to recovery of cash and jewellery, while further investigation continues.
September 2, 2026
Show AI Summary
State GST collection growth outpaced national expansion during the first five months, alongside increased VAT and CST receipts.
Haryana's SGST collections increased by 29 per cent during April-August of financial year 2026-27, exceeding the national growth rate of 16 per cent. August 2026 post-settlement SGST revenue rose by 21 per cent, compared with national average growth of 13 per cent. Haryana accounted for less than 4 per cent of national GST taxpayers but contributed approximately 7.7 per cent of aggregate national SGST, CGST and IGST collections. VAT/CST collections rose by 13.8 per cent during the same period.
September 2, 2026
Show AI Summary
NBFC loan servicing governance retains lender control through deterministic decision rules, maker-checker controls, reconciled migration and optional AI assistance.
Lokta Next 100 offers RBI-registered NBFCs with loan books up to Rs 100 crore post-approval loan servicing, accounting, reporting, analytics, collections, recovery and partner-management functions, excluding pure-play microfinance NBFCs. Credit, approval and money decisions remain with the lender. Maker-checker approval applies to every change, and migration requires line-by-line reconciliation before cutover. Records remain lender-owned, hosted in India and exportable. AI may propose changes but cannot post to the ledger; deterministic lender-policy rules decide changes. Platform fees are deferred for up to 24 months, subject to stated loan-book thresholds.
September 2, 2026
Show AI Summary
RTI access to maintained records does not require creation of Aadhaar date-of-birth update data on demand.
UIDAI did not maintain separate Aadhaar data on date-of-birth updates in Bihar following the announced social security pension enhancement, including month-wise or district-wise compilations. No internal review or flagging of unusual update patterns was available or applicable in its records. The Central Information Commission clarified that the RTI framework does not require a public authority to create, compile or generate information that it does not maintain in the form requested. The initial CPIO response treating the information as outside the RTI Act was considered inappropriate.
September 2, 2026
Show AI Summary
Transgender arrest and detention safeguards prompt calls for a standard operating procedure and clearer procedural protections.
Legal and regulatory issues include safeguards for arrest and detention of transgender persons, consultation requirements in Bar Council policy-making, and procedural accountability in electoral administration and policing. Personal insolvency proceedings raise questions about tribunal powers to constitute an expanded bench. Hospitality operators are expected to comply strictly with food-safety and hygiene norms. Proposed restrictions on minors' social-media accounts address cyberbullying, online exploitation, and harmful screen exposure.
September 2, 2026
Show AI Summary
Railway equipment purchase orders and export order expand IC Electricals' domestic and international business pipeline.
IC Electricals Company Limited has secured railway purchase orders for electrical and electronic supplies and an export order, creating combined order inflow across domestic railway operations and international markets. Its product portfolio includes regulators, battery chargers, emergency lights, inverters, microprocessor-based control systems, alternators, traction motors, and permanent magnet alternators with controllers. Forward-looking statements on business plans, projects, and research and development remain subject to risks and uncertainties and may differ materially from actual results.
September 2, 2026
Show AI Summary
Double deflation explains negative manufacturing GVA deflators when input prices rise faster than output prices.
Double deflation in manufacturing separately deflates gross output and intermediate consumption, with real GVA derived from their difference. Where input prices rise faster than output prices, nominal GVA may grow more slowly than real GVA, producing a negative implicit GVA deflator despite rising output and input prices. A negative manufacturing GVA deflator therefore does not establish a fall in manufactured-product prices or lower real growth. The implicit GDP deflator is a derived ratio between current-price and constant-price GDP and differs from CPI and WPI because of their distinct coverage, weights, and price concepts.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Showing Results for : Reset Filters

Minister of Railways launches three more Budget Announcement 2016-17 namely (1) Extension of newly introduced cancellation facility for PRS counter tickets through 139 or IRCTC website for all confirmed, RAC and waitlisted PRS Counter tickets (2) Release of Handout on ‘Railway initiatives for Ease of Doing Business’ and Nomination of ‘Key Customer Managers’ and (3) Flagging off of Roll-On-Roll-Off(Ro-Ro) train Ex.-Bihta to Turki in Bihar

May 25, 2016

Contents
Plus +
Summary
Note

Note

-

Bookmark

Print

Print

As a part of the Rail Budget Announcements of 2016-17, Minister of Railways Shri Suresh Prabhkar Prabhu in a programme held today i.e. 25.05.2016 at Rail Bhawan inaugurated three important activities which are budget announcements namely (i)   Extension of newly introduced cancellation facility for PRS counter tickets through 139 or IRCTC website for all confirmed, RAC and waitlisted PRS Counter tickets (ii)    Release of Handout on ‘Railway initiatives for Ease of Doing Business’ and Nomination of ‘Key Customer Managers’ (iii) Flagging off of Roll-On-Roll-Off(Ro-Ro) train Ex.-Bihta to Turki in Bihar.  Shri Manoj Sinha, Minister of State for Railway was specially present to grace the occasion.  Member Traffic, Railway Board, Shri Mohd. Jamshed and other Board Members were present on the occasion. 

Speaking on the occasion about these services, Shri Suresh Prabhakar Prabhu, said that Railways has been working vigorously to implement its budget announcement in order to give best passenger amenities and infrastructural development to the country. He said that whereas the extension of facility of cancellation through 139 or IRCTC website will give a huge relief to the passengers; the other two services will attract the stakeholders and the freight will now get the attention which it deserves. He said that the Ro-Ro train Ex.-Bihta to Turki in Bihar is environment friendly which will reduce carbon emission. Railway Minister said that now the Railways efforts are being appreciated throughout the country and the Railway will bring many more reforms in the near future.

Speaking on the occasion, Minister of State for Railways Shri Manoj Sinha, said that the new reforms being introduced by Railways has necessarily provided a great relief to the railway passengers. He said that now the Railways, which is backbone of the country, is working extra mile for the upliftment of economic and social development of the country. 

Salient Features Of the Schemes Launched 

CANCELLATION OF PRS COUNTER TICKETS (FULLY CONFIRMED/RAC/WAITLISTED) THROUGH IRCTC WEBSITE OR THROUGH 139 

Purpose:  

To facilitate passengers with PRS counter tickets to cancel their tickets through within the prescribed time limit as per Refund Rule 2015 facility for cancellation of such tickets through IRCTC website (www.irctc.co.in) / 139 (by IVRS and SMS).

A pilot project was inaugurated by Hon’ble MR on 29th April,2016,  for cancellation of fully confirmed PRS counter tickets. The pilot was restricted to cancellation of tickets for trains scheduled to depart  within the next 24 hours. Now this facility is being extended to all confirmed tickets without any time limit and also for RAC and Waitlisted tickets with effect from 26th May, 2016.

Conditions: 

  • Cancellation will be permitted in normal circumstances only and not in case of late running of trains/cancellation of trains etc.,
  • This facility shall be available only in case the mobile number has been given at the time of booking the ticket.
  • Online cancellation or cancellation through 139 shall be permitted only upto 4 hours before the scheduled departure of the train in case of confirmed tickets and upto half an hour before the scheduled departure of the train in case of RAC/Waitlisted tickets.
  • Refund of fare amount shall be collected only at the journey commencing station or nearby satellite PRS locations defined by Zonal Railway as under:-

(a) During first two hours of the opening of PRS counters on the next day for the tickets for the trains whose scheduled departure time is between 1801 hours and 0600 hours.

(b) Upto 4 hours after the scheduled departure of the train during the working hours of PRS counters/current  counters/special counters where cancellation is permitted round the clock on the  tickets for the trains whose scheduled departure time is  between 0601 hours and 1800 hours.

(c) No refund of amount would be given after the above mentioned prescribed time limit.

A.    Procedure For Cancellation through IRCTC website:  

  • A new page will be given on IRCTC website (www.irctc.co.in) without any login for purpose of cancellation of PRS counter tickets.
  • Passenger will be asked to enter PNR number & Train number on IRCTC website along with captcha.
  • The details entered by passenger shall be validated and an OTP will be sent to the passenger on his mobile no. given at the time of booking the ticket. The OTP received on the mobile will be entered by the passenger in the web page and it will be validated by the system.
  • After receiving the confirmation OTP number from the passenger, full cancellation of PNR will be done and PNR will be marked as Cancelled but not refunded in the system. Seat/berth will be released and would be made available for booking both at PRS & IRCTC Website. Refund amount due will also be displayed to the passenger on the website.
  • An SMS will be sent to the passenger with PNR and fare details. Sample format: ”Your ticket has been cancelled. PNR, xxxxxx, Amt,xxxxx. Refund of fare amount shall be collected only at the journey commencing station or nearby satellite PRS locations as per the notified time”.
  • All the privilege/duty pass/PTOs/complimentary pass tickets shall be allowed to be cancelled through website or through 139.
  • All types of PNRs including i-tickets (after printing) and system tickets booked across counter/post office/YTSK/Go India terminals/Bank terminals etc.’ will be allowed to be  cancelled on website except the following:

(a). Circular Journey tickets and onwards tickets booked against CJT.

(b). Foreign tourists PNRs against which berth allotment has been done

(c). ATAS generated new PNR

(d). Duplicate ticket.

(e). Cluster ticket and pre-bought ticket.

B. Procedure for Cancellation through 139:                             

Now Rail Ticket booked through Railway Reservation counter can be cancelled through Railway Enquiry 139.  Service is available on:

(a). 139 IVR with Agent Assistance

(b). 139 SMS Service

 (a). Procedure to cancel through 139 IVR

(i). Customer will call on 139 and select 6th Option from IVR main menu.

(ii). IVR will ask whether it is Counter Ticket or E- Ticket. Press 1 for Counter Ticket or Press 2 for E-Ticket.

(iii). In case customer selects E-Ticket option, IVR will play a message “Currently ticket booked through Railway Reservation Counter can be cancelled through 139. Press 8 to go back to main menu

1.  Once customer selects Counter Ticket option, call will be transferred to agent for cancellation.

2.   `Agent will ask below mentioned information from customer to process the cancellation.

a.      PNR Number

b.      Train Number

3.   Agent will retrieve ticket information from back end and confirm with customer.

4.   After ticket details confirmation, agent will click on “Generate OTP” button to generate the OTP. System will validate the calling number of customer with the number mentioned in ticket details at the back end.

5.  If mobile number validation fails, agent will advise the customer to call from same number which are mentioned in ticket details. If number is successfully validated, OTP will be delivered on passenger’s mobile number which he would convey to agent.

6.   Agent will enter OTP on CRM and will click “Submit” button to process the cancellation. Ticket will be cancelled and refundable amount will be display on agent screen. Agent will communicate the same refundable amount to customer.

7.  Customer have to collect the permissible refundable amount across the PRS counter within the prescribed time limit.

(b) Cancellation through SMS sent to 139:

(i). User has to send PNR Number & Train Number to 139 in below mentioned syntax:

CANCEL<PNR Number><Train Number> to 139

Example: CANCEL 2303529769 12420

 (ii). User will get below response from 139 after mobile number verification:

 “Dear User, We have received cancellation request against PNR number 2303529769, OTP against this request is 123456. To confirm the ticket cancellation send SMS OTP 123456 to 139.

(iii). User has to send given OTP back to 139 for second level of confirmation.

OTP <OTP received on Passenger Mobile Number> to 139

Example: OTP 123456

User will get below response from 139:

“Dear User, Your ticket with PNR number 2303529769 has been cancelled, refundable amount is Rs. ----.”

(iv) Passenger has to collect the permissible refundable amount within prescribed time limit across the PRS counter. 

EASE OF DOING BUSINESS

Ease of doing business means an environment where customer is not frightened with Government policies, a regime where rules are simplified, predictable and transparent. Policy makers interact with consumer of those policies to take their feed back and try to simplify, improved policies.  Based on these principles, Ministry of Railways went through the suggestions given by stakeholders, held brain storming sessions of senior executives and then incorporated that suggestions while taking initiatives as announced under Railway Budget. Minister of Railways emphasized on ease of doing business during his Budget Speech 2016-17.

Accordingly, Ministry of Railways has taken initiatives inter-alia withdrawal of dual freight policy of Iron Ore; withdrawal of port congestion charge; withdrawal of busy season charge; Merry-go-round system; two/multi point and mini rake in all kinds of covered wagons; mini rakes allowed up to 600 kms (from earlier 400 kms.); automatic freight rebate scheme in traditional empty flow direction; Roll-on-Roll-off service etc.

These initiatives are going to help industries, in lowering input cost on account of transportation.  Some more initiatives are in pipeline which will further benefit our customers. Ministry of Railways is going to nominate Key Customer Managers who will take care of specific industry.

A process of structured dialogue called “SAMVAD” between customers and top Railway authorities has been initiated under which Railways will take continuous feedback from customers. The “SAMVAD’ at All India level will be quarterly. At Zonal level, it will be bi-monthly. This is a big step in the direction of “Ease of doing Business”.

NOMINATION OF KEY CUSTOMER MANAGERS

While presenting Railway Budget for the year 2016-17, Minister of Railways in his Budget Speech has announced that ‘Key Customer Managers’ will be nominated to liaison with our major freight stakeholders. They would serve as a single point of contact for all communication and redressal with these key customers.’

‘Nurturing Customers’ through key customer managers have been envisaged for effective communication and redressal of issues pertaining to our invaluable freight customers. The purpose of ‘Key Customer Manager’ is to provide an appropriate mechanism to the major freight customers/ stakeholders to redress their day-to-day problems/ grievance.  There exist 10 major group of commodities in the freight basket of Indian Railway viz.- Coal, Iron Ore, Raw Material for Steel Plants (RMSP), Steel, Foodgrain, Fertiliser, Cement, POL, Container and Other Commodities. For each commodity, ‘Key Customer Managers’ is being for nominated. 

ROLL-ON ROLL-OFF SERVICE

While presenting Railway Budget for the year 2016-17, Minister of Railways has announced that a new delivery models e.g., Roll-on Roll-off will be launched. Infrastructure requirements have been assessed to re-capture that traffic through either containerization or new delivery models e.g., Roll-on Roll-off.

Recently, Rail bridge over River Ganges near Patna i.e. Digha Rail Bridge has been commissioned. After consultation with the truck operators, who are transporting sand in truck from North Bihar to South Bihar through road bridges like Mahatma Gandhi Setu, Vikramshila Setu etc., it has been decided to operate RO-RO service across Digha Bridge.  Under this scheme, loaded trucks would be moved on the flat rakes (modified BOXN and BRN rakes) to avoid congestion on roads across Ganges. To start with, this service is being introduced from Bihta (Private Freight Terminal) to Turki station, Muzaffarpur district covering a distance of 88 kms.  In a rake, approximately 44 loaded/ empty trucks will be moved.  A rake will perform 3 trips per day.

It has been decided to inaugurate 1st train of Roll-on Roll-off service on Bihta to Turki station.

The service will be extended to cover more commodities and destinations in future. In the long run, this initiative would save a lot of Forex spent on fuel and would indirectly reduce pollution.

Topics

Acts Income Tax