Saturday, October 20, 2012

[aaykarbhavan] Business standard news updates 20-10-2012

UIDAI targets 80% Aadhaar enrolmentin 51 districts by Dec

BS REPORTER
New Delhi, 19 October
The Unique Identification Authority of India (UIDAI) is targeting 80
per cent enrolment in the 51 districts covered by Aadhaar-based pilot
projects by the end of this year. It plans to complete the enrolment
by March-end. Tomorrow, Prime Minister Manmohan Singh would launch the
Aadhaar-enabled service delivery system in Dudu, Rajasthan.
Aadhaar-enabled applications would be used for pension and scholarship
payments, as well as those under the Public Distribution System and
the Mahatma Gandhi National Rural Employment Guarantee Scheme. It is
expected with an increase in Aadhaar penetration, the system would
also be extended to cover subsidy and entitlement payments.
While disclosing the details of the function to be held at Dudu, UIDAI
Chairman Nandan Nilekani said by 2014, at least one out of every two
Indians would have Aadhaar numbers. He added tomorrow's event would be
attended by United Progressive Alliance chairperson Sonia Gandhi,
Finance Minister P Chidambaram and Planning Commission Deputy Chairman
Montek Singh Ahluwalia. At the event, the prime minister would hand
over the 210 millionth Aadhaar number.
Nilekani said the total enrolment for Aadhaar stood at 240 million,
adding this would exceed 600 million by 2014.
Though Aadhaar enrolment has exceeded 50 per cent in many states, the
number is very low in states such as Bihar, Uttar Pradesh and Assam.
Till September, these states had recorded no enrolment.
UIDAI officials said according to a Cabinet decision, the authority
had to cover 16 states, while other regions would be covered under the
National Population Registry (NPR). A few of the lowpenetration states
were those covered under the NPR, and enrolment in these was expected
to pick up pace soon, they added. The Aadhaar-based service delivery
had already proved useful in the pilot projects underway, they said.
Through a pilot project in Tumkur district of Karnataka, Indian
Overseas Bank opened 40,000 accounts within a short period. Overall,
1,50,000 bank accounts have been opened through this mode across the
country. On September 1, a pilot was launched in the East Godavari
District of Andhra Pradesh. The project covered 1,25,000 beneficiaries
across 35,000 households and helped curb leakages in the Public
Distribution System.
A pilot project in Mysore helped deliver 50,000 liquefied petroleum
gas cylinders through Aadhaar authentication. A project in Aurangabad,
Maharashtra, is targeting pension payment under five special
assistance schemes, while another project for the direct transfer of
government money to Aadhaar-enabled bank accounts has been implemented
in Mandai block, West Tripura District.
PM to launch nationwide Aadhaar-based service system in Rajasthan today
UIDAI Chairman Nandan Nilekani at the occasion of second anniversary
of Aadhaar, in New Delhi on Friday PHOTO: PTI
Sebi duty bound to take action against Sahara: SC

BS REPORTER
New Delhi, 19 October
Refusing to grant more time to the Sahara group of investment
companies, the Supreme Court today allowed the Securities and Exchange
Board of India (Sebi) to take action against the companies if they
failed to provide details about some three crore investors from whom
the companies raised ~24,000 crore.
The court in its August 31 judgment had asked the two companies –
Sahara India Real Estate Corporation and Sahara Housing Investment
Corporation – to deposit with Sebi the amount collected and the
original documents related to the investors.
The Sahara group has been seeking more time to submit the documents in
view of the massive data involved. Many investors are said to be
untraceable and their money will go to the government. Sahara had
failed to submit the data before the September 10 deadline, following
which Sebi approached the court.
When Sahara moved the court again today, a bench headed by Justice K S
Radhakrishnan told the counsel that the case has been disposed of .
Now the order should be implemented. If the firms default, their
property could be attached and bank accounts frozen.
Sahara earlier committed that it would submit all the documents by
November end. It has already filed a review petition against the
judgment, which had held that the optionally fully convertible
debentures scheme through which the fund was raised was illegal. The
court had appointed one of its retired judges, Justice B N Aggarwal,
to supervise the implementation of the order. He has reportedly stated
that Sahara has failed to hand over the documents to Sebi.




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CS A RENGARAJAN,, B.Com ,FCS, LLB, PGDBM
Company Secretary, Chennai
email csarengarajan@gmail.com
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