Chandigarh: The Punjab Cabinet on Tuesday approved a bill to safeguard the interest of general public and save them from fraudulent practices of private non-banking finance companies.

The Punjab Protection of Interests of Depositors (in Financial Establishment) Bill, 2012 envisages in case of non-return of depositors' money or any fraud, the defaulter company will attract imprisonment up to six years and fine up to Rs one lakh, an official spokesman said.

Properties of managers or owners can also be attached, he said. The Cabinet also okayed the implementation of Punjab Rent Act, 1995 applicable to tenancies existing on the date of notification of the Act.

The existing tenancies will continue to be governed by the Eastern Punjab Rent Restriction Act, 1949, the spokesman said.

The new Act provides for compulsory registration of the tenancy agreement between the landlord and the tenant. The Cabinet approved the Punjab Housing and Habitat Policy, 2008 which is aimed at achieving the objective of affordable housing for all in rural and urban areas.

The need for formulating the PHHP emerged from growing requirements of shelter and related infrastructure both at rural and urban centres, the spokesman said.

Badal presides Cabinet meeting

Chief Minister Parkash Singh Badal presided over the Cabinet meeting.

In a step towards providing social security to the state's elderly population, the Cabinet gave approval to the Punjab Maintenance and Welfare of Parents and Senior Citizen Rules, 2012.

The Cabinet also decided to exempt three per cent of Industrial cess levied by the Punjab Infrastructure Development Board on export of Basmati rice for 2012-13, the spokesman said.     

The creation of two posts of Additional Deputy Commissioner (General) for Khanna and Phagwara sub-divisions were also approved at the Cabinet meeting.

The Cabinet gives its nod to accord sub-divisional status to Maur Sub Tehsil in Bathinda district.

The Cabinet also gave the go ahead for creation of 84 new posts of Trained Graduate Teachers (TGTs) in English, Mathematics, Science and Social Studies besides 21 Computer Teachers in 21 new model schools across the state.

Apart from these, 21 class-4 (group D) posts have also been approved to be outsourced. The Cabinet gave ex-post facto approval for introduction of new restructured defined Contributory Pension Scheme for employees of Autonomous Bodies and Public Sector Undertakings.

Cabinet approves other proposals

The Cabinet also approved the proposal of Revenue, Rehabilitation and Disaster Management Department to give government job to the next of kin of two persons killed during the violent incident in village Aklian of Mansa district on July 24, 2012.

The Cabinet also gave ex-post facto sanction for the creation of New Sessions Division, Moga thereby altering the limits of Sessions Division, Faridkot.

The Punjab Cabinet also approved the Punjab Municipal Citizens' Participation Bill 2012 for bringing ordinance to institutionalise citizen participation in municipal functions by setting up of area sabhas.

It also gave ex-post facto approval to restore pensionary benefits to the teachers and employees of private aided schools who retired after May 31, 2003 by issuing a notification under the Privately Managed Recognised Aided Schools Retirement Benefit Scheme 2012.

Proposal was also cleared for the creation of new posts including Secretary/Additional Secretary and five managers in the Investment promotion department at New Delhi.

The state Cabinet also approved the filling of 292 vacancies in Punjab Home Guards and Civil Defence department through the Departmental selection committee.

Draft rules for the notification of Punjab Prohibition of Child Marriage rules 2012 under the sub-section (2) of Section 19 (1) of the Prohibition of Child Marriage Act 2006 were also approved by the Cabinet.


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