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Veerendra Kumar, Kerala JD-U leader resigns from Rajya Sabha

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Veerendra Kumar, Kerala JD-U leader resigns from Rajya Sabha
Veerendra Kumar, Kerala JD-U leader resigns from Rajya Sabha. IANS
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  • Veerendra Kumar was the chairman of the JD-U’s Kerala unit
  • JD-U leader M.P. Veerendra Kumar resigned from Rajya Sabha

New Delhi, Dec 20, 2017: Disgruntled Janata Dal-United leader M.P. Veerendra Kumar on Wednesday resigned from the Rajya Sabha, days after rebel JD-U leaders Sharad Yadav and Ali Anwar were disqualified from the Upper House.

The 80-year-old, also a Kerala media baron, submitted his resignation to Rajya Sabha Chairman M. Venkaiah Naidu on Wednesday morning, Arun Kumar Shrivastava, also a rebel JD-U leader, told IANS.

Shrivastava said Veerendra Kumar, who were elected to the Upper House from Kerala last year with support from the Congress-led UDF, resigned “so that no one questions his integrity that he is aligning with (Bihar Chief Minister and JD-U President) Nitish Kumar”.

Veerendra Kumar was the chairman of the JD-U’s Kerala unit.

Nitish Kumar’s decision to break away from the Grand Alliance with the Rashtriya Janata Dal and the Congress in Bihar and align with the BJP-led NDA in July this year triggered rebellion in the party.

JD-U’s founder leader Sharad Yadav led the rebel faction to protest Nitish Kumar’s decision. He was disqualified from the Rajya Sabha along with Ali Anwar on December 4 “on ground of defection rules”. (IANS)

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A Chit Fund Scheme By KSFE Will Be Inaugurated By CM In UAE Next Month

Programme enables person who joins to complete every process online

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A Chit Fund Scheme By KSFE Will Be Inaugurated By CM In UAE Next Month
A Chit Fund Scheme By KSFE Will Be Inaugurated By CM In UAE Next Month, flickr

The Kerala government’s dream programme to raise money from its diaspora through “chitties”, or a chit fund scheme launched by state-run Kerala State Financial Enterprise (KSFE), will be inaugurated by Chief Minister Pinarayi Vijayan in UAE next month, Finance Minister Thomas Issac said on Monday.

In an interaction with editors of the Kerala media, he said all the requisite permissions have been obtained from all authorities.

“This programme was initiated by the previous UDF government and the permission to go ahead came at its fag end. After we came to power, we took this forward and all permissions and sanctions are ready and all those diaspora who wish to participate in it can join,” said Issac.

“On June 12, Vijayan will launch the registration process and all those who wish to enter the scheme can register in the KSFE site. Once Vijayan launches the programme in UAE, next month, the chitty scheme will be open,” he added.

Coins
Coins, Pixabay

KSFE Chairman Philipose Thomas said to start with, those who wish to participate can contribute monthly as low as Rs 3,000 to a high of Rs 25,000.

“The duration of the chitty given the nature of the job scenario in the Middle East is kept from a minimum of 30 months to a maximum of 60 months. Once a diaspora member joins he can pay the monthly contribution through his non-resident ordinary account and at the end of the chitty term, the payment will be made to his non-resident ordinary account,” he said.

“The programme enables each person who joins the chitty to complete every process online, which includes even bidding, and at the end of the period, the money will be credited into their bank account. Every aspect of the online process has been tested,” said Unni Krishnan who heads the technology division of the chitty scheme.

The entire programme is being handled by the Kerala Infrastructure Investment Fund Board, a government-owned financial institution meant to mobilize funds for infrastructure development outside state revenue.

Its Chief Executive K.M. Abraham, who is a former state Chief Secretary, said that no one needs to donate anything, but only to join a chitty where the money collected will be deposited in bonds and used for the state’s development needs.

“At the end of the chitty, it’s a win-win situation for both the person who joined the chitty and for the state government,” he added.

Kerala CM, Pinarayi Vijayan with PM Narendra Modi
Kerala CM, Pinarayi Vijayan with PM Narendra Modi, flickr

Also read: Reliance home finance celebrates 46 growth in income

According to the latest study report on the diaspora, 90 per cent of 23.63 lakh Keralites aboard are in the various Middle East countries, of which UAE accounts for 38.7 per cent, followed by Saudi Arabia with 25.2 per cent. (IANS)