The Palghar District Administration has decided to transfer the compensation account of the Dahanu Competent Authority for Land Acquisition (CALA) for the Vadhvan Port Project to Union Bank of India. This move aims to enhance transparency, accountability, and beneficiary confidence in the compensation disbursement process. All necessary administrative formalities for the transition have been completed, and the fund transfer from the current private sector bank is underway.
The process of shifting the compensation account of the Palghar CALA is currently in progress and will be finalized in due course. The administration assures that all compensation payments will be disbursed in strict compliance with statutory provisions and under CALA supervision. The earlier banking arrangement was established to meet administrative needs at that time.
In a bid to improve service delivery and beneficiary convenience, the existing framework was reviewed in consultation with beneficiaries and public representatives. Consequently, it was decided to operate compensation accounts through a Public Sector Bank to enhance transparency, accessibility, and public confidence. Union Bank of India has a track record of successfully managing compensation accounts for the Mumbai-Ahmedabad High-Speed Rail (Bullet Train) Project in the region.
The District Administration emphasizes that all beneficiaries will receive full assistance throughout the compensation process. The bank will conduct special awareness and outreach programs in affected villages to guide citizens on banking procedures. The Vadhvan Port Project, a crucial infrastructure endeavor, is poised to create significant economic opportunities for the region. The District Administration is dedicated to ensuring that project-affected families receive their entitled compensation promptly, transparently, and without hassle.
