top of page

By:

Quaid Najmi

4 January 2025 at 3:26:24 pm

Commercial LPG 'evaporates' in Maharashtra

Mumbai : The short supply of commercial LPG cylinders turned ‘grim’ on Wednesday as hundreds of small and medium eateries – on whom the ordinary working Mumbaikars depend on for daily meals – shut down or drastically trimmed menus, on Wednesday.   With an estimated 50,000-plus hotels, restaurants and small food joints, the crunch is beginning to be felt severely, said Federation of Hotel and Restaurant Association of India (FHRAI) vice-president and Hotel and Restaurant Association Western...

Commercial LPG 'evaporates' in Maharashtra

Mumbai : The short supply of commercial LPG cylinders turned ‘grim’ on Wednesday as hundreds of small and medium eateries – on whom the ordinary working Mumbaikars depend on for daily meals – shut down or drastically trimmed menus, on Wednesday.   With an estimated 50,000-plus hotels, restaurants and small food joints, the crunch is beginning to be felt severely, said Federation of Hotel and Restaurant Association of India (FHRAI) vice-president and Hotel and Restaurant Association Western India (HRAWI) spokesperson Pradeep Shetty.   “We are in continuous touch with the concerned authorities, but the situation is very gloomy. There is no response from the Centre or the Ministry of Petroleum on when the situation will ease. We fear that more than 50 pc of all eateries in Mumbai will soon down the shutters. The same will apply to the rest of the state and many other parts of India,” Shetty told  ‘ The Perfect Voice’ .   The shortage of commercial LPG has badly affected multiple sectors, including the hospitality and food industries, mass private or commercial kitchens and even the laundry businesses, industry players said.   At their wits' ends, many restaurateurs resorted to the reliable old iron ‘chulhas’ (stoves) fired by either coal or wood - the prices of which have also shot up and result in pollution - besides delaying the cooking.   Anticipating a larger crisis, even domestic LPG consumers besieged retail dealers in Mumbai, Pune, Chhatrapati Sambhajinagar, Ratnagiri, Kolhapur, Akola, Nagpur to book their second cylinder, with snaky queues in many cities. The stark reality of the 12-days old Gulf war with the disturbed supplies has hit the people and industries in the food supply chains that feed crores daily.   “The ordinary folks leave home in the morning after breakfast, then they rely on the others in the food chain for their lunch or dinner. Many street retailers have also shut down temporarily,” said Shetty.   Dry Snacks A quick survey of some suburban ‘khau gullies’ today revealed that the available items were mostly cold sandwiches, fruit or vegetable salads, cold desserts or ice-creams, cold beverages and packed snacks. Few offered the regular ‘piping hot’ foods that need elaborate cooking, or charging higher than normal menu rates, and even the app-based food delivery system was impacted.   Many people were seen gloomily munching on colorful packets of dry snacks like chips, chivda, sev, gathiya, samosas, etc. for lunch, the usually cheerful ‘chai ki dukaans’ suddenly disappeared from their corners, though soft drinks and tetrapaks were available.   Delay, Scarcity  Maharashtra LPG Dealers Association President Deepak Singh yesterday conceded to “some delays due to supply shortages” of commercial cylinders, but assured that there is no scarcity of domestic cylinders.   “We are adhering to the Centre’s guidelines for a 25 days booking period between 2 cylinders (domestic). The issue is with commercial cylinders but even those are available though less in numbers,” said Singh, adding that guidelines to prioritise educational institutions, hospitals, and defence, are being followed, but others are also getting their supplies.   Despite the assurances, Shetty said that the current status is extremely serious since the past week and the intermittent disruptions have escalated into a near-total halt in supplies in many regions since Monday.   Adding to the dismal picture is the likelihood of local hoteliers associations in different cities like Pune, Palghar, Nagpur, Chhatrapati Sambhajinagar, and more resorting to tough measures from Thursday, including temporary shutdown of their outlets, which have run out of gas stocks.

Banking Overhaul

The Lok Sabha’s passage of the Banking Laws (Amendment) Bill, 2024 represents a significant overhaul in India’s banking regulations, with an emphasis on modernising the sector and enhancing customer convenience. The most notable change introduced by this bill is the provision allowing depositors to nominate up to four individuals for their bank accounts or fixed deposits, replacing the current system, which only permits a single nominee. This reform addresses a pressing concern, particularly highlighted during the COVID-19 pandemic when families struggled with the legal complexities of accessing the accounts of deceased loved ones.


The introduction of multiple nominees aims to simplify the often-cumbersome process of fund distribution after an account holder’s death. Under the previous system, a single nominee was named for bank accounts, and upon the account holder’s passing, the sole nominee had to prove their right to the funds, leading to delays, disputes and confusion.


A key innovation of the bill is the option for depositors to choose between simultaneous or successive nominations. In the simultaneous nomination model, depositors can assign specific percentage shares to each nominee, effectively outlining who gets what. In the successive model, nominees inherit the funds in a predefined order, ensuring that if one nominee is unavailable, the next in line will inherit the funds. This dual-option system promises to reduce complications for legal heirs and smoothens the transition of assets. It also ensures that families do not face long delays or legal battles over fund distribution during what is already a difficult time.


The multiple-nomination provision is a welcome change. For many, the process of inheritance has been a source of anxiety, often exacerbated by the legal intricacies and slow-moving bureaucracy. By allowing greater flexibility and clarity, the bill helps to address this gap, making it easier for families to manage the estate of a deceased individual. Moreover, this reform is particularly timely, given the rise in digital banking and online account management. The new system will likely ease the complexities that arise when digital platforms are involved in managing bank accounts after the account holder’s death.


The provision for greater flexibility in auditor remuneration and revised reporting deadlines aims to boost operational efficiency, reflecting the government’s commitment to strengthening banking governance and improving consumer convenience. However, despite the positive changes, the opposition has criticised the bill, arguing that it signals the government’s long-term plan to reduce its stake in public-sector banks. Critics contend that the bill, under the guise of operational efficiency, will pave the way for privatisation by reducing the government’s control over these institutions. While this remains a contentious point, the bill’s provisions on multiple nominations have undoubtedly simplified the process of inheritance, providing greater security and transparency for depositors and their families.

Comments

bottom of page