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Nabard plans to double authorised, paid-up capital
The National Bank for Agriculture and Rural Development (Nabard) plans to raise its authorised capital from Rs. 1,000 crores to Rs. 2.000 crores and paid-up capital from Rs. 500 crores to Rs. 1,000 crores subject to the approval of the Finance Ministry. The farm refinance bank is also keen on broadbasing its activity by taking up direct lending, for which again the Ministry has to give its assent. Sources state that the Nabard Act will have to be amended to facilitate lifting its capital base and that could take some time.
Kerala may soon become hub of gold mining
The Placer gold deposits in the Nilambur valley of Kerala, being jointly explored by BRGM, France, and the Kerala Mineral Exploration Development Project, have turned out to be a rich and viable third source of gold deposits in the country, after Karnataka and Andhra Pradesh. According to Union Mines Ministry sources, these deposits, which have been discovered in the river basins of Kerala, have yielded nuggets of gold. In fact, on preliminary exploration, the deposits in the Nilarnbur valley are said to be so promising that some experts believe that Kerala might soon become the hub of mining activity.
Show-cause notice to co.s flouting pollution norms
The Union Minister for Environment and Forests, Mr. Rajesh Pilot, has directed his Ministry to issue show-cause notices to those companies which have failed to install the necessary pollution control systems by December 1993 as per the Ministry's earlier directive. This will be issued under Section 5 of the Environment (Protection) Act of 1986. Under the provision, the Government can not only order the closure of polluting industries, but also disconnect water and electricity to the units.
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