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No need for fresh equity, says Andhra Bank CMD
State-owned Andhra Bank has enough capital and there was no need for government funds or follow-on public offer to meet its 20-25 per cent growth target for 2009-10 (April-March), Chairman and Managing Director RS Reddy said today.

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India voices concern over N Korean N-test
Voicing concern over the nuclear test carried out by North Korea, India today said the act amounts to violation of its international commitments and that the development could have "adverse effect" on peace and security in that region.

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Smart Portfolios shine in holiday week
The Smart Portfolios registered healthy gains last week in line with a pull back in the broader markets. The benchmark index, S&P CNX 500, was up 3.61 per cent in the holiday-shortened week. An investment of Rs 10 lakh at the start of the Smart Portfolios on September 1, 2009, is today valued at Rs 11.20 lakh, an appreciation of almost 12 per cent. This week, barring Praveen Panjwani, other three fund managers were able to match the benchmark’s return.
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e-registration of land transfer soon

The Orissa government has decided to introduce e-Registration of land transfer replacing the present system of manual registration. - Orissa to issue I-cards to coir and salt workers - Centre to amend mining law to address iron ore issues - Kandhamal violence blot on Orissa"s face: Chidambaram - Rs 5,658 cr strategy for flood control in Orissa - Orissa demands men, machine and money to tackle Naxals - Posco project likely to be delayed: Orissa govt In the new system a vendor or registrant public has to pay user fees besides the stamp duty and registration fees required for transfer of land. “This facility will be available in all sub-registrar offices in the state” said state’s revenue minister, SN Patra. The government has also decided to increase the number of sub-registrar office from 72 to 100 and the tehsil office to 316, he said. The minister was addressing a function of the Data-Entry Operator-cum-Assistant Association here. “The e-Registration facility will not only ensure transparency, but also make the process of land registration hassle free for the public who will get their land deeds instantly. The process for issue of Encumbrance Certificates (ECs) is also being computerized which will help the administration to issue ECs to the applicants immediately. The computerization of land records will help in disposing of the long-pending mutation cases and fetch more revenue to the government, the minister said. Several southern Indian states like Andhra Pradesh, Karnatak and Tamilnadu have already introduced the e-Registration facility. As part of its administrative reform, the government has decided to restrict the number of staff in a tehsil to 22 including the tehsildar. As the government intends to fill up the assistant posts lying vacant in tehsils soon, the data-entry operators working in tehsils on contractual basis have a good chance to get permanent appointments, the minister said, referring to their demands for regularization of jobs. The government had engaged about 600 data-entry operators about three years ago on contractual basis for a period of six months with consolidated remuneration of Rs 4000 per month at the tehsil level. The tenure of their job was extended twice by one year on each occasion.


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