Palghar (Maharashtra), June 3 (IANS) The Palghar District Administration on Wednesday said it has decided to shift the compensation account of the Dahanu Competent Authority for Land Acquisition (CALA) for the Vadhvan Port Project to Union Bank of India.
The move is aimed at further strengthening transparency, accountability, and beneficiary confidence in the compensation disbursement process.
According to the administration, all administrative formalities required for the transition have been completed, and the process of transferring funds from the existing private sector bank is currently underway.
The procedure for shifting the compensation account of the Palghar CALA is also in progress and will be completed in due course.
The administration reiterates that all compensation payments have been and will continue to be disbursed strictly as per statutory provisions and under the supervision of the CALA. The earlier banking arrangement was made in line with administrative requirements at the relevant time.
“However, as part of its continuous efforts to improve service delivery and beneficiary convenience, the existing framework was reviewed in consultation with beneficiaries, public representatives. Following this review, it has been decided to facilitate the operation of compensation accounts through a Public Sector Bank,” according to a statement.
This initiative will further strengthen transparency, improve accessibility, and enhance public confidence through the extensive reach of a trusted nationalised bank.
Union Bank of India has successfully managed compensation accounts for the Mumbai-Ahmedabad High Speed Rail (Bullet Train) Project in the region over the past several years.
The District Administration has directed that all beneficiaries receive complete assistance throughout the compensation process. Special awareness and outreach activities will be undertaken by the bank in the affected villages to guide citizens regarding all banking procedures.
The Vadhvan Port Project is one of the country’s most important infrastructure projects and is expected to generate substantial economic opportunities for the region.
The District Administration remains fully committed to ensuring that all project-affected families receive their entitled compensation in a timely, transparent, and hassle-free manner.
–IANS
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