Archive for September, 2009

Bank Charges@Inward ECS– Free @Out Stn Cheque- upto 10000-Rs50, 10000to 1Lac-Rs100, ^1Lac- Rs150 Post/Courier Inclusive

CHEQUE COLLECTION CHARGES MAXIMUM-150/- per cheque!!!!!

Dear Friends,

The News is old a Bit but what I noticed in practical life that Banks are still charging at Higher rates, so refer The Given RBI circular to Your banker and save money from Undue charges. Lets Fight for our rights.
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I am in favour of deregulation of all type of business by bank on commercial terms but a month ago I realize that how much wrong I was.I have deposited a cheque of dividends of 75 Rs Havell India a outstation cheque in my bank and they have credited the my bank account with 75 Rs after 10 days and also debited my account with 85 Rs charge 50 Rs minimum charges plus 35 courier charges means net debit of Rs 10.Then I thought that this type of discretionary charges by banks are not in favour of small depositor and I should report this to RBI but like all other passive persons in the community I forgot about the issue in next two three days…But as you know all Indian are not passive and some active persons has brought this charges to the kind notice of the RBI and I am very thankful to RBI that they have issued a Instruction which is applicable to all Banks with Immediate Effect from date of issue of Circular i e 8.10.2008. Detail Of circular is given here under

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Date: 08/10/2008

Levy of Service Charges for Electronic Payment Products and Outstation Cheque Collection

RBI / 2008-09 / 207
DPSS.CO.No. 611 / 03.01.03(P) / 2008-09
                                                                         October 8, 2008

 

The Chairman and Managing Director / Chief Executive Officer
All Scheduled Commercial Banks including RRBs /
Urban Co-operative Banks / State Co-operative Banks /
District Central Co-operative Banks

Madam / Dear Sir,

Levy of Service Charges for Electronic Payment Products and
Outstation Cheque Collection
With immediate effect, the framework of charges to be levied by banks for offering various electronic products and for outstation cheque collection service shall be as under : –
1. Electronic products
a) Inward RTGS / NEFT / ECS transactions – free, no charge to be levied.
b) Outward transactions –

(i)

RTGS – Rs. 1 to 5 lakh–

not exceeding Rs. 25 per transaction

Rs. 5 lakh and above —

not exceeding Rs. 50 per transaction

(ii)

NEFT – Up to Rs. 1 lakh —

not exceeding Rs. 5 per transaction

Rs.1 lakh and above —

not exceeding Rs. 25 per transaction

c) Banks may prescribe charges not higher than cheque return charges for ECS debit returns.
d) These charges shall be applicable for all types of transactions, including inter-bank funds transfers.
2. Outstation cheque collection

a)

Up to Rs. 10,000 —-

not exceeding Rs. 50 per instrument

Rs. 10,000 to Rs. 1,00,000 —-

not exceeding Rs. 100 per instrument

Rs.1,00,001 and above —-

not exceeding Rs. 150 per instrument

b) The above charges will be all inclusive. No additional charges such as courier charges, out of pocket expenses, etc., should be levied from the customers.
c) To reduce the clearing cycle and to promote electronic modes of payment, the drawee banks should use electronic modes like RTGS / NEFT, wherever available, to remit proceeds to the collecting bank branch.
d) Banks may make increased use of Speed Clearing and National Clearing facilities for providing efficient service.
3. The above charges are applicable only to transactions originated and payable within India.
4. The provisions of this circular shall not be applicable to cash handling charges levied by banks for handling large value cash transactions.
5. No bank should refuse to offer the products to its customers or decline to accept outstation cheques deposited by its customers for collection.
6. These Directions are issued by the Reserve Bank of India, in exercise of the powers conferred by Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully
(G. Padmanabhan)
Chief General Manager

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so where as earlier banks were charging on percentage basic on full amount plus out of pocket charges but now for collection of outstation cheque charges ,RBI has delink % commission charges and fixed a upper ceiling as well .Earlier commission rates Collection of outstation cheques were 2 Rs per thousand to 5 or more Rs/thousand and varies from bank to bank and nature of account you have with the bank.
I have browsed some bank websites and the existed rates of collection for common saving account and given a benefit chart for cheque amounting to Rs 100,1000,10000,100000,500000 means comparison of charges on the basic of old rate and and rate based upon new circular by RBI as below

 

COMPARISON OF COMMISSION CHARGED BY BANK AND AS PER NEW RATE BY RBI

OUT STATION

HDFC BANK

ICICI BANK

SBI BANK

CHEQUE AMOUNT

OLD RATE

NEW RATE (MAXI)

BENE FIT

OLD RATE

NEW RATE (MAXI)

BENE FIT

OLD RATE

NEW RATE (MAXI)

BENE FIT

100

50

50

0

75

50

25

50

50

0

500

50

50

0

75

50

25

50

50

0

1000

50

50

0

75

50

25

50

50

0

10000

90

50

40

75

50

25

60

50

10

25000

187.5

100

87.5

112.5

100

12.5

100

100

0

50000

350

100

250

200

100

100

175

100

75

100000

675

100

575

375

100

275

325

100

225

200000

1325

150

1175

725

150

575

625

150

475

500000

3275

150

3125

1775

150

1625

1525

150

1375

1000000

6525

150

6375

3525

150

3375

3025

150

2875

 

  1. RATES ARE GIVEN ON THE BASIS WHERE ICICIBANK OR HDFCBANK BRANCH DOES NOT EXIST.
  2. OUT OF POCKET CHARGES ARE ASSUMED AS 25 RS PER TRANSACTION

www.SIMPLETAXINDIA.com

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Microsleep- cause of Accident beyond control of Drs. Microsleep often occur at any time, typically without significant warning & Drivers were totally unaware of it

"News in Indian Express"
www.indianexpress.com

Bad health of railway drivers lead to train accidents

Similar Case?

Tr.No. 1019 at GUR Station

Central Railway

As many as 25 small or big train accidents that took place in the recent past were due to what the loco running staff in the Indian railways term as ‘micro-slipping effect’. This has been established by a study conducted in Germany and Japan.
Micro-slipping effect is a phenomenon in which the drivers of trains have a wink or some sort of a ‘nap attack’ for two second to 30 Seconds, due to lack of proper rest.
There had been a spurt of such cases wherein loco pilots happened to miss signals or apply brakes in time, thus leading to accidents. World famous Waterfall train Accident near Sidney (Australia) caused due to Micro-Sleep.
This, he said, clearly indicated the safety hazards in rail journeys stemming from loco pilot’s health which the railway authorities have long been ignoring. "Owing to lack of proper rest and less number of sleeping hours, the drivers become more susceptible to causing accidents. Nearly 10 of such incidents have taken place in the South Eastern Railways.

"The erratic work hours are taking a toll on the health of loco pilots. A driver needs to rest properly so that he is vigilant when on duty. At least once in two nights he needs to have sleep at night as the day’s sleep cannot provide the same kind of relief.
On the contrary, it has been found that most of the loco pilots drive long distances, sometimes without getting proper rest for consecutive nights.
"The railways are treating its loco pilots as machines. According to a survey conducted by Nagpur-based Labour Institute, health deterioration was found in up to 30 per cent of 300 loco pilots covered in the survey. This is a cause for concern for all, whether it’s the loco pilots, the railway authorities or the passengers. Therefore, railways must do something in this regard.

Visit: http://ltrsnrmu.blogspot.com/2009/08/microsleep-fatigue-cause-of-accident.html

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PFRDA given a clarification 4 an article published in Indian Express, unable 2give present cumulative investment of NPS

Reference to NPS in article on retirement planning published in Express Money section of Indian Express on 31.08.2009
The Indian Express has published an article on Retirement Planning in their Express Money section written by Shri Sanjay Kr Singh. The article has drawn certain references to the New Pension System which do not give the full picture and, therefore, it has been considered necessary to issue some clarifications as follows:
1. Regarding tax status of NPS
As per the Finance Act 2009 the amount accumulated in the NPS account utilized to purchase an annuity is exempt from income tax. The article does not provide the full picture that NPS corpus will not be taxed if an individual buys an annuity.
2. Regarding waiting till 2010-11 to see what the new tax code holds for NPS
It has been stated that investors should wait till 2010-11 to see what the new tax code holds for NPS. This statement is misleading as under the Finance Act 2009, NPS accumulation utilized to purchase annuity is exempt from income tax.
3. Regarding availability of historical data for decision making
It has been stated that it is difficult to decide which fund manager one should invest with, as no historical data is available. Although NPS for common citizen was rolled out on 1st May, 2009, the NPS for Central Government employees has already been operational.
The weighted average return on the pension funds for the first year of operation as on 31st May, 2009, was 14.82% according to the unaudited figures submitted by three Fund Managers viz., LIC Pension Fund, SBI Pension Fund and UTI Retirement Solutions. Moreover, historical data regarding the performance of the sponsor companies is available which is a reasonably good indicator.

Extract from the article published in The Indian Express(Express Money Section) on 31.08.2008

Title: “SAVE NOW SO YOU CAN PLAY GOLF AFTER 60”
Author: Shri Sanjay Kr Singh

Should you use the NPS?
First, let us dwell on its positives. If you invest the equity component of your retirement savings in the New Pension Scheme (NPS), it would get managed at a low cost. Its cost is lower even than that of an index fund. For young investors, especially, the low cost would make a substantial difference to the final corpus. Its second advantage is that since it offers limited liquidity, the money remains available till retirement and doesn’t get used up for other purposes.
However, at present there are a couple of issues with the NPS. The most important is its tax status, which is EET. The NPS corpus gets taxed at withdrawal (while PPF and equity funds are not). Says Dhawan: “With the new tax code coming in, all instruments will be treated in a similar manner. Sooner rather than later, NPS will receive equal treatment. The reason why the NPS has been given EET status and not EEE status is probably that the government wants most products to move to EET status. Investors should wait till 2010-11 to see what the new tax code holds for NPS.”
Another issue with the NPS is that at present it is difficult to decide which manager you should invest with as no historical data is available. On the equity side, the NPS at present works like an index product with no active management. If, for reasons mentioned earlier, you believe that actively managed funds should be a part of your portfolio, then this is not the product for you.
Source article: indianexpress

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IIT Professors on footsteps of Labour Unions, decided 2 observe a token fast tomorrow against UPA Govt’s new Policy

Why protest like unionists, Sibal asks IIT faculty

Human Resource Development Minister Kapil Sibal on Tuesday questioned the rationale of IIT faculty protesting like “trade unionists” against their revised pay scales.

“Pained” at their decision to observe a token fast on Thursday, he said the Ministry was in no way trying to interfere with the autonomy of the Indian Institutes of Technology as was made out by the faculty.

In a point-to-point rebuttal of the issues they raised, Mr. Sibal wanted to know how the provision for a Ph.D with first class at the preceding degree for the posts of Assistant Professor, Associate Professor and Professor could be seen as an attempt to dilute merit or autonomy. Further, this was a recommendation made by the Fifth Central Pay Commission.

As for the decision to set aside 10 per cent recruitments in a year at the Assistant Professor level on contract for Ph.Ds from the IITs, Mr. Sibal said this was part of the government’s effort to retain some of the IIT products within the system.

Given the opposition to the move, he pointed out that individual IITs were free to write to their boards for relaxation of this provision if they could not meet the 10 per cent requirement.

Referring to the IIT faculty comparing their pay scales with that of university and college teachers and those in certain government departments such as Atomic Energy, the Ministry’s contention is that they were picking and choosing only aspects that suited their argument.

“The fact is that an IIT faculty member can become an Associate Professor within six years, while under the University Grants Commission scales, this transition takes double the time,” Mr. Sibal said.

Defending the 40 per cent cap on the post of Professors at the grade of Rs.12,000 per month, he said a new pay band had been created for senior professors. The cap was much higher for the IITs than UGC institutions, where 10 per cent of the sanctioned posts of professor were placed in the senior grade. At the National Institutes of Technology, the cap was at 20 per cent, and the All-India Institute of Medical Sciences had a 25 per cent cap on the senior professor grade.

Borrowing a line from the All-India IIT Faculty Federation that the “issue is not just about a higher pay scale,” Mr. Sibal said: “I am happy that for them, salary is not the issue.” Drawing attention to their earnings from consultancies, he described their salary as the “icing on the cake,” adding the actual teaching time was kept very low in the IITs to facilitate research and consultancy work.

Source : The Hindu.

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Apply 4Jobs: ONGC-340 Trainee Engineers, Army-250 Nursing Officers, MPSC-82 Public Prosecutors, ITBP-25 ASI(Steno) NRMU

  • ONGC Graduate Trainee-2009 vacancy
  • Army SSC Female Nursing Officer Sep09
  • MPSC Assistant Public Prosecutor vacancy Sep09
  • ITBP ASI Stenographer recruitment Sep09
  • MPSC Deputy Soil Survey Officer vacancy Sep09

 

ONGC Graduate Trainee-2009 vacancy

ongc Oil and Natural Gas Corporation Ltd.(ONGC)
Western Offshore Unit, Mumbai
Recruitment of 340 Graduate Trainees-2009
ONGC is looking for promising, energetic young Engineers with bright academic record to join the organization in the pay scale of Rs. 24900 – 50500/- with an increment rate of  3% per year :

  • Graduate Trainees : 340 posts (Drilling-36, Electrical-32, Mechanical-32, Instrumentation-20, Environment Engg/ Science. -2, Production-74, Materials Management-7, Chemistry-25, Geology-18, Geophysics (Surface) – 27, Geophysics(Wells) – 26, Reservoir-27, Finance & Accounts – 14),Age : 30 years as on 16/09/09. Relaxation as per rules.


Selection : Eligible candidates will be required to appear for written test  probably on 25/10/2009 (Objective as well as Subjective Type) consisting of two papers namely (i) General Awareness (ii) Subject / Specialization concerned. (b) The candidates who qualify in the online written test shall be called for interview and psychometric test.
Application Fee : Deposit Rs.500/- at the nearest branch of State Bank of India (Rs. 100/- for SC/ST/PH candidates) in ONGC A/C Number 30827318409..
How to Apply : Apply online till 30/09/2009. After applying online, download the system generated Registration Slip with unique registration number, space for photograph, signature and other details. The candidate is required to take a printout of the Registration Slip. The envelope containing the original registration slip, recent photograph (size 3.5 x 4.5 cms with white background) affixed, signature in the space provided superscribed with GT-2009 (Discipline) & GEN/OBC/SC/ST/PC as the case may be, is to be sent, by Ordinary posts to ONGC, Post Box No.453, Basavanagudi, Head Post Office, Bangalore-560 004 so as to reach latest by 06/10/2009.
Please view http://www.ongcindia.com/recruitment/GT_09.pdf for details and Online submission of application is at http://202.144.108.152/OnGC/

 

Army SSC Female Nursing Officer Sep09

 

INDIAN ARMY
Join Armed Forces Medical Services as Short Service Commissioned (SSC) Nursing Officer in Military Nursing Service (MNS) – 2/2009

Applications are invited from female candidates who have passed B.Sc. (Nursing)/ Post Certificate of B.Sc. (Nursing)/ M.Sc.(Nursing) in first attempt for grant of SSC in the Military Nursing Service as Nursing Officers.

  • SSC Officer (Nursing) : 250 posts, Qualification : B.Sc.(Nursing) / Post Certificate B.Sc.(Nursing)/ M.Sc.Nursing qualification from a recognised university (b) be a registered, as State Registered Nurse and Midwife., Age : 21-35 years as on 31/12//2009., Pay Scale : As applicable to the rank of Lieutenant.

Selection Procedure : Eligible candidates will be called for a written test to be conducted at Base Hospital Delhi Cantt in the 2nd week of November 2009. Based on the merit in the written test, the required number of qualified candidates will be called for an interview on the next day by a board of officers at the office of the DGAFMS, Ministry of Defence, M Block, New Delhi for final assessment and selection for grant of SSC in Military Nursing Service. Candidates qualifying in the interview will be subjected to medical examination on the third day.

How to Apply : Apply on A4 size paper in the prescribed format and should reach Integrated HQ of Ministry of Defence (Army), Adjutant General’s Branch, Dte Gen of Medical Services (Army)/ DGMS-4B, Room No. 45, L Block Hutments, New Delhi – 110001 latest by 1300 hrs on 09/10/2009.

Please visit http://indianarmy.nic.in for details and application form.

 

MPSC Assistant Public Prosecutor vacancy Sep09

Maharashtra-PSC Maharashtra Public Service Commission (MPSC)
Bank of India Building, 3rd Floor, Mahatma Gandhi Road, Hutatma Chowk, Mumbai-400001 (Maharashtra)

Applications are invited for filling up following  posts :

  • Assistant Public Prosecutor (Group A in the Directorate ot Public Prosecutions, Home Department.) : 82 posts, Pay Scale : Rs.7450-225-11500/-, Age : 33 years as on 01/01/2010. Relaxation in age as per rules, Qualification : Degree in Law of a statutory university and experience of working as an advocate in the High Court or in a Court subordinate thereto, for a period of not less than 5 years.


Application form : Application form with Prospectus is available in the designated Post Offices in the state of Maharashtra only in their working hours for which the cost is Rs.100/-.
Application Fee : Rs.400 (Rs.200/-for BC) should be paid in the Post Office by cash along with application.
How to Apply : The duly filled up Application Form along with required fee should be submitted only at any of the designated Post Offices in their working hours on or before 20/10/2009.
Please  view  http://mpsc.maharashtra.gov.in/english/dcmNew/pdf/Assistant%20Public%20Prosecutor,%20Gr-A.pdf    for  more details.

 

ITBP ASI Stenographer recruitment Sep09
INDO-TIBETAN BORDER POLICE FORCE (ITBP)
Ministry of Home Affairs (Government of India)
Advertisement for recruitment of Assistant Sub-Inspector (ASI) (Stenographer) in ITBP
Applications are invited for filling up the 25 posts of Assistant Sub-Inspector (Stenographer) in ITB Police from Indian citizens. Last date for receipt of applications is 20/10/2009. Last date is 28th October 2009 for the candiates from far-flung areas.
Age : Between 20 to 25 years as on 20/10/2009
Pay Scale : Rs.5200-20200 Grade Pay Rs.2800

Educational Qualification : Senior Secondary Certificate (10+2) from a recognized Board or equivalent. (ii)Minimum speed of 80 words per minute in English shorthand and 40 words per minute in English typing. OR Minimum speed of 80 words per minute in Hindi shorthand and 30 words per minute in Hindi typing.
Fee : All candidates belonging to General & OBC category should furnish a crossed Indian Postal Order or Bank Draft worth Rs. 50/- drawn in favour of the Inspector General (Special) Frontier, ITBP, West Block, Wing-2, Sector-1, R.K. Puram, New Delhi-110066 payable at SBI, R.K. Puram, New Delhi (Bank code – 1076). SC/ST candidates are exempted from application fee .
How to Apply : Application Form in prescribed format along with Candidate’s Admission Card and attested copies of requisite documents/testimonials, and 2 latest photograph  should be sent by the candidates so as to reach the Inspector General (Special) Frontier, ITBP, West  Block, Wing-2, Sector-1, R.K. Puram, New Delhi-110066 on or before the last date 20/10/2009.

For complete detail of the advertisement for information like selection process, eligibility criteria, how to apply, certificates to attach with application form and Application Form, please visit http://itbp.gov.in

Maharashtra-PSC Maharashtra Public Service Commission (MPSC)
Bank of India Building, 3rd Floor, Mahatma Gandhi Road, Hutatma Chowk, Mumbai-400001 (Maharashtra)

Applications are invited for filling up posts :

  • Deputy Soil Survey Officer : 06 posts, Pay Scale : Rs.6500-200-10500/, Age : 33 years as on 01/01/2010. Relaxation in age as per rules, Qualification : Batchlors degree in Civil or Agricultural Engineering or a Masters Degree in Chemistry or Agriculture of any recognised university at least in second class and hiving experience in the laboratory & in field works of Soil Survey relating to Agriculture & Irrigated Cultivation for not less than three years.


Application form : Application form with Prospectus is available in the designated Post Offices in the state of Maharashtra only in their working hours for which the cost is Rs.100/-.
Application Fee : Rs.400 (Rs.200/-for BC) should be paid in the Post Office by cash along with application.
How to Apply : The duly filled up Application Form along with required fee should be submitted only at any of the designated Post Offices in their working hours on or before 20/10/2009.
Please view http://mpsc.maharashtra.gov.in/english/dcmNew/pdf/Soil%20Survey%20Officer,%20Directorate%20of%20Irrigation,%20Reaserach%20and%20Development,%20Gr-A.pdf  for more details.

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While replying 2Questionnaire of Rly Board, please represent our anger 4 ALPs Grade Pay, Mileage & HoER

A questionnaire is supplied by RB to all DRM’s to submit by today.
Please ensure that our views to be represented regarding dissatisfaction about ALPs Grade Pay, Mileage & HoER (Duty Hours) etc.

Personal Data

Division:                  Station:                            Section:
Name of the employee:
Designation:
Department:
Pay in pay band:                                  Grade:

 

Questionnaire

Q1.Whether you are satisfied with your Job ? (Pl Tick one appropriate box)
1-2-Not satisfied
3-5-Average satisfied
6-8-Very satisfied
9-10-Highly satisfied

Q2.Have you any problems in discharging in your duties?Yes/No.
If yes please tick relevant item/items:
(1)Problems with subordinates:
(2)Problems with colleagues:
(3)Problems with superiors:
(4)Non-availability of tools and equipments:
(5)Problems regarding payments and other personnel issues:
(6)Have any other problems (Please specify)

Q3.Have you any personnel problems which effect your working? Yes/No.
If yes,please tick relevant item/items:
(1)Your personal health problems if any:
(2)Health problems of family:
(3)problems related to your children:
(4)Any other problems (please specify)

Signature of the employee with date

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‘All 14 Durontos on track’? Howrah-Mumbai Duronto Express may be inaugurated soon, inspite of oppose of running staff

DURONTO- Started
DH News Service:
Railway Minister Mamata Banerjee on Friday flagged off the Duronto Express – India’s fastest non-stop train that will cover the 1,454 km distance between Sealdah in West Bengal and New Delhi 90 minutes quicker than the Rajdhani.
“This new superfast express that will run at 130 kms per hour, will take 16 hours and 30 minutes to complete the journey as against 18 hours being taken by the normal Rajdhani express,” Ms Banerjee said after flagging off the train from Sealdah Station. “The next Duranto train, Howrah- Mumbai Yuba Express is almost ready and we’ll shortly have its inaugural run.”
While stating that railways have been striving hard to fulfil all the promises made in the budget for 2009-10, she claimed all the 14 Duranto versions will be on track before the stipulated time. “And there can be one or two more of it,” she added without elaborating from when they would commence operations.
The Duranto will have three operational stoppages during its journey, but no commercial one. The Sealdah-New Delhi Rajdhani Express has six commercial stoppages at the moment. According to her, speed of other superfast trains like Kalka which presently run at 110 kms per hour, will gradually be raised to 120 kmph. Fares have been kept lower than those of Rajdhani though all the coaches are air-conditioned.
Environment-friendly
Incidentally, the train sports an environmental-friendly design that was sketched by the Minister herself. Brushing aside all speculations that the new type of specially-designed coaches might jump the rails at such a high speed, she said the coaches have been certified by the railway’s technical safety chief D K Roy. The train is built of stainless steel, which is lighter, anti-corrosive and more durable than the conventional ‘cotton steel’. Another important safety feature is the central buffer couplers whose enhanced load capacity makes the train derailment-proof.
Besides safety and hygiene features like dustbins and fire extinguishers, the trains have sleeker designs for bottle holders and switches, mobile charging points, sliding transparent doors between coaches, and LED night lamps instead of regular fluorescent lights.
The Sealdah-New Delhi Duronto will have one AC I-tier coach, three AC II-tier coaches, four AC III-tier coaches and five economy AC III-tier coaches besides generator cars. The Duronto rakes comprise ICF coaches used in the Rajdhanis and Garib Raths earlier. The Garib Raths had AC III-tier coaches that could accommodate more passengers.
Each Duronto coach is 24 metres long, compared to the regular coach length of 22.3 metres.

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