Bank merger to protect Capitalists: Former Minister Rai
Mangaluru: “In a bid to safeguard the rich capitalists, the central government is merging the Vijaya Bank, which was giving financial livelihood to the coastal region and was in benefit; with Dena Bank and Baroda Bank, which are in the loss;” accused former minister B. Ramanatha Rai.
Vijaya Bank has a history of 87 years and has its own heritage. There is a history that the bank saved itself by not paying staff during the loss. It’s not acceptable to kill such a bank; he said while addressing a press conference on Monday.
Former Prime Minister Indira Gandhi nationalized the private banks and facilitated the loan facility to poor. No problem if was no money in the account. Whereas, in the current NDA government, account must have minimum Rs 2,000. Otherwise, the account holder must be penalties. With this, the NDA displays its stand where it wants to support only the haves and not the have-nots.
No one will be benefited from the merger of banks. Both, the bank staff and the customer, face a psychological problem. It has already seen the merger of Punjab National Bank and SBI. A.B. Shetty had employed many people of the district by establishing the bank. However, it is sad that the BJP MPs and MLAs are silent on the mergers. They are sure of getting votes by inciting communal sentiments ", rai said.
Mayor Bhaskar K, Leaders Mamata Gatti, Baby Kunder, Vishwas Kumar Das, R.K. Prithviraj, Sadashiva Ullal, Shashidhar Hegde, Kavita Sanil, Uppi and Nazir Bajal were present.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
