Nepal may become super rich in future as China hits jackpot in the country, the treasure is worth Rs...
Kathmandu: What comes as good news for India's neighbour Nepal is that scientists there have discovered a huge reserve of methane gas in the country's western region. With this discovery, the total methane reserve of Nepal may reach around 430 billion cubic meters, potentially enough to meet the country's gas demand for about 50 years, as per a report published by the China Geological Survey (CGS). The report presented preliminary findings from only one of the four wells targeted in the Jaljale area of Dailekh district, raising the country's prospects of tapping domestic energy sources, according to the state-run Gorkhapatra daily. 1.12 billion cubic meters of methane present
The findings that were shared with the Nepal Government on Thursday stated that the exploration was carried out under a bilateral agreement, which was signed between Nepal and China in 2019. 'The first drilling operation was launched on May 11, 2021, reaching a depth of over 4,000 metres. It revealed an estimated 1.12 billion cubic metres of methane in a single well,' the report read. Need For 50 Years Will Be Fulfilled
Gorkhapatra stated that the total reserve in the region could reach 430 billion cubic metres.
'The report reflects preliminary findings from just one of the four targeted wells. Based on initial estimates, the total reserves in the region could reach 430 billion cubic metres, which could potentially meet Nepal's gas demand for about 50 years,' Gorkhapatra said. Good News For Nepal
Deputy Director General of the Department of Mines and Geology and head of the petroleum exploration project Dinesh Kumar Napit stated that it is deepest and most advanced exploration ever conducted in the country.
Further testing will be done to assess the quality of the gas, commercial viability and economic potential.
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Economic Times
31 minutes ago
- Economic Times
Suntech Infra Solutions shares to list today. GMP hints at strong listing pop
Delhi's Suntech Infra Solutions is set for a strong NSE SME debut on July 2, with a GMP of Rs 41 over its Rs 86 issue price, signaling a potential 48% listing gain. Suntech Infra Solutions, a Delhi-based construction and equipment rental company, is set to list on the NSE SME platform on July 2, with expectations of a strong listing gain. The IPO saw healthy demand, driven by its position in the B2B infrastructure construction segment and robust financials. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Delhi-based construction and equipment rental player Suntech Infra Solutions is set to list on the NSE SME platform on July 2 with a GMP of Rs 41 over the issue price of Rs 86. This suggests a strong potential listing gain of nearly 48% for investors who received allotments in the Rs 44.39 crore IPO, which closed on June 27, saw a healthy response from institutional and non-institutional investors, anchored by its position in the B2B infrastructure construction segment and solid financials. The public issue comprised a fresh issue of 39.74 lakh shares and an offer for sale of 11.87 lakh Infra operates across core infrastructure verticals — including power, oil and gas, steel, cement, and renewable energy — and has ongoing projects worth Rs 186 crore as of July also boasts an equipment rental order book worth nearly Rs 10.9 crore, highlighting its integrated civil construction FY24, the company clocked Rs 96.25 crore in revenue, with a net profit of Rs 9.25 crore, up 61% from the previous IPO proceeds will be used to fund working capital and purchase new construction equipment to support project a strong order book, proven project delivery record, and expanding demand from both government and private infra sectors, Suntech Infra's debut is expected to mirror the optimism in the SME IPO market, even amid broader market the pre-listing enthusiasm and reasonable valuation, the company may find strong support on the bourses, and investors are keenly watching for a premium listing and sustainable performance in the days ahead.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
India.com
31 minutes ago
- India.com
Bad news for Home Buyers, Circle rates to rise in THIS Major city, Flats to get costlier by 20 percent, plots by up to..., Check area-wise list here
Image for representational purposes only New Delhi: In a major development, the district administration of Lucknow on Tuesday released the draft proposal for the new DM circle rates. According to the new proposal, the flat rates in the capital city will rise by up to 20 percent. The land prices in the posh areas of Gomti Nagar will go upto Rs 77,000 per square meter, while in Mahanagar, the rate will be Rs 65,000 per square meter. It is important to note that the objections to the new circle rates have been invited until July 17. According to the officials, the revised rates will be implemented from August 1. This will be the first change in rates in Lucknow after 10 years. As per the draft, once the new rates are enforced, buying agricultural, residential, and commercial land will become 25 percent to 50 percent more expensive. In some specific colonies, the proposed hike in circle rates is more than double. In a massive spike, the rates in Ansal API located on Sultanpur Road will go up to Rs 50,000 per square meter. District Magistrate Vishakh stated that for agricultural land, a proposal has been made to increase the rates by up to 15 percent, while for non-agricultural land, the rates may be increased by up to 25 percent. In the new township, the circle rates of land have been increased by up to 50 percent. Earlier, the circle rates were last increased in the year 2015. Here are some of the key details: Objections to the revised rates have been invited until July 17. The list of new rates is available on the district administration's website: Those who are interested can view the list at the offices of Assistant Inspector General of Registration I and II, as well as all Sub-Registrar offices. Objections and suggestions can be sent to aiglko01@ and aiglko02@ Objections will be addressed between July 18 and July 27. The final list of circle rates will be released on August 1. Maximum Increase Based on Area Type Revenue Village: Up to 15 percent Non-agricultural Land: Up to 25 percent Flats in Multi-storey Buildings: Up to 20 percent Shops, Offices, and Warehouses in Complexes: Up to 20 percent Non-agricultural Plots Near Commercial Areas: Up to 20 percent Commercial Plots: Up to 1.5 times the non-agricultural rate Proposed Circle Rates in Colonies (Colony – Proposed Rate in INR per square meter) Ansal: Rs 35,000–Rs 50,000 Gomtinagar: Rs 33,000–Rs 77,000 Vrindavan: Rs 28,000–Rs 50,000 Emaar: Rs 35,000–Rs 50,000 Omaxe Metro City: Rs 20,000–Rs 26,000 Eldeco Saureya: Rs 20,000–Rs 26,000 Kanti Niketan, Hariharpur: Rs 20,000–Rs 26,000 Exla Resortico: Rs 22,000–Rs 28,000 Eldeco Eternia, Jaiti Mod: Rs 22,000–Rs 28,000 Amrawati: Rs25,000–Rs 37,000 Pintel: Rs25,000–Rs 37,000 Omega Enclave: Rs 20,000–Rs 30,000 Vikas Vihar Colony: Rs 20,000–Rs 30,000 Signature Park: Rs 20,000–Rs 30,000 Parth Republic: Rs 20,000–Rs 23,000 Anant Nagar Yojana: Rs 15,000–Rs 18,000 Santushti Enclave: Rs 7,000–Rs 10,000 Shalimar One World: Rs 50,000 Auro City, Madiyanv: Rs 20,500–Rs 28,000 Rohit Heights: Rs 20,500–Rs 28,000 Sahara State: Rs 20,500–Rs 28,000 Sahara Grace: Rs 20,500–Rs 28,000 Jankipuram: Rs 35,500–Rs 54,000 Vasant Kunj: Rs 20,000–Rs 35,500 Indiranagar: Rs 35,000–Rs 62,000 Mahanagar: Rs 41,000–Rs 65,000 Rates may vary along different sides of the roads (in ₹/sq. meter): Outer Areas Villages on both sides of Kisan Path: ₹30,000 Outer Ring Road, Mohanlalganj: ₹15,000 to ₹20,000 Both sides inside Municipal Corporation limits on Outer Ring Road: ₹20,000 Both sides outside Municipal Corporation limits on Outer Ring Road: ₹15,000 Outer Ring Road (Bakshi Ka Talab): ₹8,000 – ₹10,000 Outer Ring Road (Malihabad): ₹9,000 Along Purvanchal Expressway: ₹6,000 – ₹10,000 Agra Expressway (within Municipal Corporation limits): ₹20,000 Agra Expressway (outside Municipal Corporation limits): ₹15,000 On Kanpur Road from Kati Bagia to the road connecting Mohan Road: ₹15,000 Raitha Road up to BKT limits: ₹7,000 – ₹9,000 Asti–Behta Road: ₹5,000 – ₹7,500 Chandrika Devi Road: ₹7,000 – ₹8,500 Bhainsamau to Babaganj Road: ₹4,000 – ₹8,000 Itaunja to Kursi Road: ₹5,000 – ₹9,000 Itaunja to Mal Road: ₹5,000 – ₹7,000 Malihabad–Mohan Road: ₹7,000 Malihabad–Mal Road: ₹8,200 – ₹13,000 Mal–Rahimabad Road: ₹3,400 – ₹8,200 Mal–Itaunja Road: ₹8,200 Saidapur Chauraha to Chandrika Devi Road: ₹ 8,200 Mal–Dubagga Road: ₹ 3,400 – ₹ 8,200 Ayodhya Road from Polytechnic Chauraha to Barabanki Chauraha: ₹ 33,000 – ₹ 66,000 Sultanpur Road (up to Mohanlalganj and Sarojininagar): ₹ 18,000 – ₹ 55,000 Raebareli Road (up to Mohanlalganj and Sarojininagar): ₹ 18,000 – ₹ 40,000 Gomti Nagar & Gomti Nagar Extension Both sides from Ambedkar Chauraha via Dayal Paradise to Husadiya Chauraha, and from Vishal Khand CMS School via Manoj Pandey Road to Husadiya, and from Sahara Hospital to the railway line: ₹66,000 From Gomti Nagar Extension Police Station to CMS: ₹55,000 From Janeshwar Mishra Park Gate No. 7 to Shaheed Path: ₹55,000 From Gomti Nagar Extension Police Station to Health City Extension: ₹55,000 From Health City Hospital Chauraha to Greenwood Apartment: ₹55,000 From Vibhutikhand Police Post via Hyatt Regency Hotel to Pickup Chauraha: ₹70,000 From Chinhat Tiraha via Eldeco Tiraha to Malhaur Station: ₹55,000 Under Viraj Khand Road Flyover, from Vibhutikhand Minister Residences and One Awadh Mall to Bank of India on Lohia Path: ₹70,000 Indira Nagar & Munshipulia From Lekhraj Police Post to Convention Centre and from Shalimar Chauraha via Shekhar Hospital to Ring Road: ₹49,500 From Amrapali Chauraha via Iram Degree College to Ring Road: ₹49,500 From Gol Market to Ayodhya Road under Nishatganj Bridge: ₹53,000 From Rahimnagar Chauraha via Dandaiya Market to Kursi Road: ₹27,500 From Indiranagar Sector-11 via Takrohi to Amrai Tempo Stand Tiraha: ₹16,500 From Munshi Pulia Chauraha via Arvindo Park and Pani Gaon to Biryani House: ₹49,500 From Munshi Pulia Chauraha via Metro Station to Sector-17: ₹49,500 From Gudamba Road to Manas Town: ₹14,500 Along Shaheed Path From Shaheed Path to Omaxe Hazratganj: ₹52,000 From PHQ Gate No. 3 via MRGF Omaxe R-1 to Omaxe Hazratganj and Omaxe R-2 Mini Omaxe Hazratganj boundary: ₹52,000 Road between Palacio Mall and Ekana Stadium, and from Palacio Police Post to roundabout near Mercury Hotel: ₹52,000 From Best Price via Comfort Hotel and Atal Chauraha to the end of the road towards Sultanpur Road: ₹50,000 In Sushant Golf City, from Atal Chowk to Fountain Chauraha: ₹50,000 Road behind Lulu Mall via Platinum & Skyline Plaza and Anand Resort to the end: ₹50,000 From Shaheed Path towards Sushant Golf City, left of MiGSON up to Fountain Chauraha: ₹50,000 From Medanta Hospital, left of MiGSON, up to the last junction to Kunskapsskolan School and from Medanta to Shaheed Path: ₹50,000 Connecting road from Lulu Mall to Medanta Hospital up to Awadh Shilpgram Chauraha: ₹52,000 From Awadh Shilpgram Chauraha to the end of the road leading to Awadh Vihar: ₹40,000 Vrindavan Yojana From Neelmatha Underpass to Vijaynagar Chauraha: ₹40,000 From Vrindavan Police Post to Awas Vikas Guest House, Sector-10: ₹40,000 From Matulya Gurukul to Parshuram Chauraha via Ornate Glory and Bharat Petrol Pump: ₹40,000 From Mama Chauraha to Utraitia Station: ₹40,000 From Raebareli Road to the end of the road towards Maharana Pratap Chowk: ₹40,000 Kanpur Road & Bijnaur Road From Piccadilly Hotel Chauraha via Priyam Plaza to Parikalp Bhawan: ₹40,000 From Piccadilly Hotel Chauraha via Priyam Plaza to Parikalp Bhawan: ₹40,000 From Bangla Bazaar Police Post via Phoenix Mall and Aashiyana Chauraha to Kanpur Road: ₹40,000 From Bangla Bazaar Bridge via Shaheed Path Underpass and Maple Paradise to CRPF Chauraha: ₹40,000 From Bijnaur Chauraha CRPF to Banthra Police Station: ₹15,000 From Chungi Tiraha via Parag Dairy to Nagar Nigam Office: ₹40,000 From Pakri Bridge via Aashiyana Chauraha and Power House Chauraha to Sai Plaza: ₹40,000 From Bangla Bazaar Chauraha via Pakri Bridge to Badnaam Laddoo: ₹40,000 From Tipinagar Parking No. 5 via Bijnaur Road to BBAU: ₹40,000 From Tipinagar Parking No. 9 via Deep Shikha Apartment and Shivani Public School to Blue Dart Office: ₹40,000 From Jio Petrol Pump to Shaheed Path opposite Tipinagar Parking No. 10: ₹40,000 From Maa Ka Aashirwad Building via HP Petrol Pump to Tipinagar Parking No. 3: ₹40,000 From Railway Line Parking No. 1 to Shaheed Path: ₹40,000 From Shaheed Path (OYO Home Town House 217) via Bank of Baroda and Parking No. 5 to Hotel Trijal Inn: ₹40,000 From Junabganj Chauraha via Prayagraj-Mohanlalganj Road to Bhaghukheda Chauraha: ₹15,000 Other City Roads Nabipanah Road from Andhe Ki Chowki via Mahiptamau Masjid to Kakori Turn: ₹11,000 From Kapoorthala Chauraha via Radhelal Sweets, Purnia Chauraha and Swaad Mishthan Bhandar to Ram Ram Bank: ₹54,000
Time of India
34 minutes ago
- Time of India
Ex-HDFC and ICICI Bank employee denied job by SBI for negative CIBIL score on loans taken for younger brother; loses legal challenge in High court
Academy Empower your mind, elevate your skills How did this case start? July 27, 2020: State Bank of India issued a notification for filling up the vacancy of the Circle Based Officer (CBO) post. He (candidate) applied for this job. State Bank of India issued a notification for filling up the vacancy of the Circle Based Officer (CBO) post. He (candidate) applied for this job. February 16, 2021: This person was successful in the examination and called for an interview. This person was successful in the examination and called for an interview. March 12, 2021: This person, having cleared medical examination, certificate verification and CIBIL and other document verification, was issued an appointment order. This person, having cleared medical examination, certificate verification and CIBIL and other document verification, was issued an appointment order. April 1, 2021: He was thereafter asked to submit his explanation to the CIBIL report which was based on his past records of belated repayment of loans. He submitted his explanation along with CIBIL report for all the accounts and requested the SBI to permit him to continue duty. SBI said under Clause 14 (ii) and Clause 1(E) candidates with record of default in loan repayments can't get a job at SBI The SBI relied on Clause 14 (ii) (General Information), Clause 16 (Disclaimer) and Clause 1(E) (Eligibility Criteria) and submitted that the petitioner (candidate) had given false and untrue declaration and hence his appointment was cancelled. According to the SBI, one of the eligibility criteria stipulated was that the candidates with records of default in repayment of loans, adverse report of CIBIL and other external agencies were not eligible for appointment. According to the SBI, the petitioner's CIBIL report revealed adverse credit history in repayment of loan, credit card usage and therefore, the petitioner was found ineligible under Clause 1(E) of the eligibility criteria. When the petitioner (candidate) was asked to submit an explanation to the CIBIL report, he admitted that he availed personal loans for the purpose of his brother's business. What did the candidate's CIBIL report say? August 31, 2018: Personal loan obtained for Rs 1,30,000 was irregular between the period November 2018 to July 2019. During this period he was gainfully employed in ICICI Bank as Deputy Manager. The loan was written off by the credit institution and a suit was filed against the candidate for recovery of the loan. This is a clear evidence of his financial indiscipline. June 27, 2018: Personal loan obtained for Rs 90,000 was irregular during the period Dec 2018 to April 2020. During this period, he was gainfully employed in ICICI Bank as Deputy Manager. November 3, 2017: Personal loan availed for Rs. 1,50,000/- shows in CIBIL report as an overdue of Rs 2,770. 'The above personal loans availed by the candidate are sanctioned by the credit institutions based on his repaying capacity. Though he was able to repay, he wilfully defaulted on the loan repayment.' March 24, 2017: The credit Card facility availed by the candidate from HDFC Bank was irregular over a period from Jan 2019 to October 2019 and later settled post write-off during October 2019, making a loss of Rs 40,000. February 10, 2017: Another credit card facility availed by the candidate since 10.02.2017, with a credit limit of Rs 35,000 remained irregular for 37 days during March 2019 to April 2019. The petitioner (candidate) having participated in the recruitment process as per the notification (job notification), cannot now turn around and state that Clause 1(E) should be read to mean that no dues were outstanding on the date of the notification. More so, when the said clause is not challenged. One more aspect that needs mention here is that the bank took a prudent decision that the candidates with a history of default in repayment of loans and adverse CIBIL and other external agencies report were ineligible. The probable rationale behind the said criteria may be that in banking business, the employees deal with public money and therefore financial discipline needs to be strictly maintained. Further there must be efficiency in handling public money and obviously a person with poor/ or no financial discipline cannot be trusted with public money. Therefore this Court under Article 226 of Constitution of India will not consider the relevancy of the eligibility criteria prescribed by the respondents (SBI). How does this judgement impact private and government bank job seekers? When starting a new business, it's common to turn to friends and family for some initial funding. Applying this logic, a younger brother reached out to his older brother, who was working at ICICI Bank at that time, for some money to kickstart his business. To support his brother's business the older brother ended up taking several personal loans and kept doing so even after he left ICICI Bank to take a position as a deputy manager at HDFC Bank This practice of borrowing money to invest in his younger brother's business eventually led him to a point where he had to take out multiple personal loans from various lenders. In the end, it resulted in a never-ending cycle of personal loans and credit card long as the younger brother's business was thriving, he could keep up with the loan EMIs, but after the younger brother had an accident, things took a turn for the worse. With the business not bringing in enough cash, the older brother struggled to handle the loan repayments with just his salary and thus defaulted on the loan did manage to pay off a few loans, but for some personal loan and credit card debts, he fell behind on payments. One lender, from whom he borrowed during his time at ICICI Bank, even filed a recovery suit in court to recover the money after he defaulted on the repayment. In 2019, even HDFC Bank had to write off a loss of Rs 40,000 because he defaulted on his credit card debt of all of these incidents, his CIBIL score took a really bad hit, leading to his rejection from the State Bank of India SBI ) Circle Based Officer (CBO) position, even after passing the exam, acing the interview and receiving an appointment SBI turned him down for the job the older brother filed a Writ Petition in the Madras High Court under Article 226 of Constitution of India, since he had already quit his position at HDFC Bank to take up this job at cited a March 20, 2021 letter issued by the CGM-HR of SBI stating that default disputes about loan repayments could be regularised/rectified before joining and so he also should be given the chance to do the June 2, 2025, the Madras High Court rejected his arguments and ruled that SBI is correct in its stance and as per Clause -1(E) of SBI's internal rules, this cancellation of appointment based on adverse CIBIL score is Madras High Court said: '...The bank took a prudent decision that the candidates with a history of default in repayment of loans and adverse CIBIL…were ineligible. The probable rationale behind the said criteria may be that in banking business, the employees deal with public money and therefore financial discipline needs to be strictly maintained.'Keep reading to know how a CIBIL score became the reason for denial of a bank job with SBI and how this judgment impacts private and public bank job to the order of the Madras High Court dated June 2, 2025, here's the timeline of events:However, despite his explanation, the SBI cancelled his appointment on the ground of adverse credit history reflected in the CIBIL report. Aggrieved by the same, he filed a writ petition in the High read: Matrimonial Dispute: Husband loses job after wife wins case; Know how this impacts private and government employees SBI's lawyers filed a written response to the person's writ petition. Here's what the bank's lawyers wrote:The Madras High Court said: 'According to the petitioner (candidate) due to the unforeseen situation of his brother meeting an accident, he was unable to manage the loan repayment. The petitioner clearly admitted his default in repaying the personal loans and therefore in my view, the respondent-bank cannot be faulted for invoking Clause 1 (E) of the Notification.'The following observations were made in the CIBIL report :(no facts or figures were changed, everything is as per the High Court judgement)SBI said: 'Though the CIBIL report shows only 9 irregular credit facilities, there were more than 50 credit enquiries against the candidate, during the period 2016 to 2021, ranging between Rs 1000 and Rs 30,00,000. Majority of the credit enquiries being personal loans. Banks considers the abnormal number of credit enquiries against the candidate as severe financial indiscipline. Therefore, there is no significance to the contention raised by Petitioner (candidate).'Madras High Court final judgement: SBI rightfully rejected job to an adverse CIBIL candidateThe Judgement: 'I find no merits in the writ petition and hence, the same is liable to be dismissed. Accordingly, the writ petition is dismissed. No costs. Consequently, the connected Miscellaneous Petition is closed.'The Madras High Court applied the precedent laid down in the judgment of the Supreme Court of India in Swamy v. State of A.P. reported in (1990) 1 SCC 288. The Court said:ET Wealth Online has asked various lawyers about how this judgement may impact prospective bank job seekers, here's what they said:In practice, most of the banks and financial institutions in India check CIBIL scores to check the financial discipline of the candidates. A CIBIL score check is necessary for a role involving financial transactions, as hiring an employee with a bad, flagged financial past record can be risky both financially and judgement upholds that the employer can set the eligibility criteria as per the requirements of the position. In my opinion, if the criteria are not discriminatory or excessive, the same will be upheld by the courts, like what happened in this case. Relying on the CIBIL score of an employee or prospect for a role in the bank can neither be called discriminatory nor excessive, and the candidates should be mindful of the requirements of the job roles they are applying for. If there are errors in the CIBIL report, the employee or prospect can prove his job-seekers, the judgment appears to reiterate the importance of carefully reviewing the eligibility criteria and conditions before participating in the selection judgment also highlights that a record of a personal trait of a candidate, for instance financial indiscipline reflected by a poor credit history, can be lawfully considered by employers for assessing candidates for jobs in banking and financial sector, where such discipline is implications could also be relevant for similar jobs with private sector banks where it is customary for employers to also retain a right to conduct background verification checks before confirming a candidate's seeking employment in the banking sector should carefully review the details in recruitment notices and maintain a good credit record, as a low CIBIL score may affect their job prospects. If they consider the selection criteria to be unjust, they should pursue appropriate legal recourse challenging such not all banks check CIBIL scores of prospective employees. But it is common practice for banks and financial institutions to check the credit scores of candidates, especially for positions that involve handling financial transactions or managing sensitive banking involves a high degree of trust and fiduciary responsibility, financial discipline and creditworthiness are seen as indicators of a candidate's ability to manage public money responsibly. A good credit score can reflect positively on an individual's financial management capabilities and trustworthiness whereas a poor or default-ridden credit history may reflect negatively on an applicant's personal financial management and, by extension, raise concerns about their suitability for roles in banking and Madras High Court's ruling highlights the importance of CIBIL scores and credit reports for banking job applicants, as these factors can affect their eligibility. The Court observed that banks can as part of their selection process review CIBIL scores/reports of job applicants. It clarified that repaying loans before applying does not guarantee employment and that banks can assess the applicant's overall creditworthiness through the CIBIL judgment highlights that if an applicant disagrees with any eligibility condition or clause in the recruitment notification or circular, particularly one related to CIBIL scores, they must specifically challenge it. If the validity of the clause is not contested, no interpretation issues can occur, and the bank's decision based on that clause will generally be upheld.
