Author: LokMarg

Stake In IDBI Bank

Union Govt And LIC To Divest 60.7% Stake In IDBI Bank

By LokMarg

The Government of India and the Life Insurance Corporation of India (LIC) will together divest a 60.72 percent stake in IDBI Bank. The government on Friday invited the expression of interest for the divestment of stakes in the bank.

“Expression of Interest is invited for Strategic Disinvestment of specified GoI and LIC stakes in IDBI Bank along with transfer of management control,” the Secretary, of the Department of Investment and Public Asset Management (DIPAM) said in a tweet.

The proposed strategic disinvestment includes the sale of 30.48 percent of the Government of India’s stake and a 30.24 percent stake of the Life Insurance Corporation of India.

IDBI Bank operates as a full-service universal bank serving customers from all segments. On January 21, 2019, LIC completed the acquisition of a 51 percent controlling stake making it the majority shareholder of IDBI Bank. The RBI, consequently, categorized IDBI Bank as a Private Sector Bank for regulatory purposes with effect from January 21, 2019.

Since then, IDBI Bank has showcased a turnaround in operations and is constantly exploring new avenues for growth in its business, especially in the retail segment, to maintain its competitive edge and strengthen its position in the banking landscape.

LIC holds 49.24 percent (529.41 crore shares) while the Government of India holds 45.48 percent (488.99 crore shares) in IDBI Bank as on March 31, 2022.

It has now been decided that pursuant to the strategic disinvestment of IDBI Bank (i) GoI shall sell a such number of shares representing 30.48 percent and Life Insurance Corporation of India shall sell a such number of shares representing 30.24 percent, aggregating to 60.72 percent of the equity share capital of IDBI Bank, along with transfer of management control in IDBI Bank, as per documents released by the Department of Investment and Public Asset Management, Ministry of Finance. (ANI)

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Experts Say Rupee To Fall Further, All Eyes On RBI Measures

By LokMarg

With increasing oil prices weighing on traders’ sentiments, the rupee plunged to an all-time low of 82.22 against the US dollar in morning trade on Friday. Depending on the rising crude oil and US payroll data, the US Federal Reserve’s stance on monetary policy could also be determined. The rupee had closed at 81.88 in the previous session.

Manoranjan Sharma, chief economist, of Informerics Ratings, said, “the Indian rupee vis-a-vis the US dollar fell 3 percent over the last six sessions to nearly Rs 82.50 versus the dollar. There are both global and domestic factors responsible for this fall. The global headwinds include heightened uncertainties post the Russia-Ukraine war and consequently, risk-aversion and flight to safe havens.”

“Macroeconomic factors include sluggish growth, high inflationary pressures, rising trade deficit, current account deficit, fiscal deficit and foreign investors withdrawing money from the Indian markets together with limited scope for the RBI’s intervention because the forex reserves have fallen from US dollars (USD) 642 billion to USD 540 billion.” He added: “We see India’s current account deficit to be about 3.3 to 3.4 percent of GDP this year. There is a need for close monitoring and vigil on this score,” Sharma said.

Exporters should not be allowed to keep USD earnings beyond five days. The interest rate on NRI (foreign currency) account needs to be increased, Sharma opined, adding that the import duties on non-essential items needed to be increased.

Banks need to be advised by the RBI to start special USD-fixed deposits drive for a maturity ranging from 6 months to 2 years, with enhanced interest rates.

Aditi Singh, economist, at the Bank of Baroda, said, “This was mostly like a reflection of the US data that came out yesterday. There is an anticipation that the US payrolls report will come today leaving some nervousness in the market. The dollar is continuing to strengthen because of that, and that is the reason we are seeing pressure on other currencies. 82 level is breached and we probably see the rupee moving towards 82.5 to 83 level.”

“In comparison to currencies of advanced economies, the rupee had relatively performed relatively better. So, if you see the advanced economies like the yen or the euro or the pound, these currencies have depreciated much more and when you compare it even with the strength in the dollar index, the dollar has appreciated by close to 20%. So, INR has performed relatively more rational, more strength than other currencies and that is because of the strong domestic fundamentals of the Indian economy that is reflected,” Singh said.

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36th Prez Of BCCI

Roger Binny Likely To Replace Sourav Ganguly As BCCI Chief

By LokMarg

Former Indian cricketer and member of the 1983 World Cup winning team Roger Binny is likely to be the next BCCI President replacing Sourav Ganguly as per the sources in BCCI.

Binny has previously served as a member of the BCCI selection committee. The former pacer Roger Binny is said to be the frontrunner to replace Ganguly as the BCCI president and Jay Shah is expected to continue as the BCCI secretary.

Roger Binny’s name appeared on the BCCI’s Draft Electoral Rolls (put up on the BCCI website) for the October 18 elections and the Annual General Meeting as a representative of the Karnataka State Cricket Association (KSCA) on Thursday instead of KSCA secretary Santosh Menon. All these led to speculation of former seamer being the frontrunner for the post of BCCI President.

As per sources, Sourav Ganguly is likely going to become India’s representative for the International Cricket Council Chairman’s post.

The nominations can be filled on October 11 and 12, the scrutiny of the nominations will take place on October 13 and the candidates can withdraw their nominations latest by October 14. The elections will be held here on October 18. (ANI)

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Delhi Chhath Puja

Delhi Govt To Organise Chhath Puja At 1100 Sites With β‚Ή25-Cr Budget

By LokMarg

Delhi government will organize Chhath Puja at 1100 ghats this year for which the government has approved a budget of β‚Ή25 crores to facilitate lakhs of devotees in offering their prayers on Chhath.

Delhi Revenue Minister Kailash Gahlot on Friday held a review meeting on the preparedness of Chhath Puja in the national capital.

The meeting was attended by Burari MLA Sanjiv Jha, the Divisional Commissioner, and all the District Magistrates of Delhi.

During the meeting, the Revenue Minister directed the department to ensure that the devotees should not face any inconvenience.

He also directed the officers concerned to ensure smooth management and operationalization of all the 1100 sites of the Chhath Puja Celebration in Delhi. For this government has approved 25 crores this year to facilitate lakhs of devotees in offering their prayers on Chhath.

In Delhi, the Revenue Department is the nodal department for the celebration of Chhath Puja in a safe, secure, and eco-friendly manner with full festivity.

The Revenue Department will make the necessary arrangements for tent and electrical items; such as tents, chairs, tables, lighting, sound system, CCTV, LED screens, power backup, and so on at all the 1100 Puja sites.

Furthermore, the Revenue Department will ensure the provision for the other required facilities in coordination with other departments of the Delhi Government such as the Irrigation and Flood Control Department (I&FC) and Delhi Jal Board (DJB) for clean water arrangements, Health Department for primary health services and deployment of Ambulances, DUSIB for Mobile Toilet Vans (MTVs) and with agencies such as Delhi Police and CDV for safety and security, Traffic Police for Traffic Management and MCD/NDMC for sanitation and cleanliness.

The Delhi Government has grown the celebration of Chhath Puja from 69 sites in 2014 to a whopping 1100 sites and increased the budget ten times from 2.5 crores in 2014 to approx. 25 Crore this year to facilitate lakhs of devotees in offering their prayers on Chhath.

In a statement, Revenue Minister of Delhi Kailash Gahlot said, ”We are committed to ensuring a grand celebration of Chhath Puja in Delhi. This year, the scale of the celebration would be unprecedented. We are ready with appropriate arrangements to ensure smooth execution in a safe and secure manner all over Delhi.”

Chhath Puja is one of the most auspicious festivals in Bihar, Jharkhand, and Eastern Uttar Pradesh. The festival is dedicated to Surya Bhagwaan (Sun God), which people believe sustains life on Earth. (ANI)

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Sukesh and Jacqueline Fernandez

CBI Files Chargesheet Against Conman Sukesh In Impersonation Case

By LokMarg

The Central Bureau of Investigation on Friday filed a charge sheet against Sukesh Chandrashekhar and his associate in a fraud case instituted in 2019.

CBI has submitted a charge sheet against Sukesh Chandrashekhar and Sanjay Jain alias Sanjay Chicken, residents of Punjabi Bagh, Delhi, before CJM, Chengalpattu of Kancheepuram District in Tamil Nadu.

CBI had registered a case in May 2020 on the orders Supreme Court of India and took over the investigation of an FIR registered in 2019, earlier registered at police station DCB, Tiruvallur, Chennai (Tamilnadu) against an accused.

During the investigation, the role of both the said accused emerged. The accused had allegedly conspired to cheat by impersonation using digital devices. One of the accused had allegedly committed the offence while being in custody parole during October 2019 and also impersonated many Senior officers of the Government of India by using call spoofing techniques and made phone calls to various persons, who were facing criminal cases by different investigating agencies.

It was further alleged that he had extorted huge sums of amounts as bribes from them in the guise of settling their cases and misappropriated the money so collected for his personal use.

The other accused resident of Punjabi Bagh, Delhi was in regular contact with the said accused and used to handle his legal matters by arranging lawyers, dealing his parole matter, etc.

The investigation has also revealed that Income Tax Department had conducted raids on the premises of different organizations and individuals including one organization having a temple at Varadaiahpalem, District Tirupati (AP), and other related organizations during October 2019.

The said accused contacted one of the persons handling operations of the organization by impersonating himself as the then Law Secretary, Government of India, and allegedly pressurized them to pay Rs. 7.50 Crore. He had made ‘Spoofed Calls’ to representatives of the said Group which promoted the said organization, showing calling numbers as landline numbers of higher government functionaries, which were actually originated from outside India.

The accused had also obtained foreign numbers and used them for the collection of Rs 2 crore from Mumbai.

CBI had taken custody of the accused. One of the accused (impersonator) is presently in judicial custody. (ANI)

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'Dahan' Web Series

Tisca Chopra Celebrates Success of ‘Dahan’ Web Series

By LokMarg

Bollywood actor Tisca Chopra, on Friday, shared glimpses from the celebration of the success of her series ‘Dahan – Raakan ka Rahasya’.

Taking to Instagram, Tisca shared a video which she captioned, “Two weeks on the No: 1 spot across platforms and we had to party with the madly talented team that made #Dahan possible ..And of course, so much gratitude for giving us your time and love.”

In the video, Tisca could be seen celebrating along with her team members Saurabh Shukla, and other makers of the series.

Tisca Chopra is making the most of indoors.

Helmed by Vikranth Pawar, the series stars Tisca Chopra, Saurabh Shukla, Rajesh Tailang, Mukesh Tiwari, Ankur Nayyar, and Rohan Joshi in the lead roles.

The 9-episodes series premiered on Disney+ Hotstar and gathered massive responses from the audience.

The show touches upon society, and its beliefs while challenging its characters to face their deepest and darkest fears. It takes off when a mining expedition threatens the village fabled with a temple that legends say can unleash a deadly curse when harmed.

However, an IAS officer (played by Tisca Chopra) sets out on a mission to battle age-old superstitions that shroud the village in the face of mysterious killings and disappearances. Shot across Rajasthan’s uniquely rugged landscapes, the story spells catharsis with cursed caves, hidden treasures, and generational secrets.

Earlier, Actor Tisca Chopra, who played the role of an IAS officer, said, “What I love most about Dahan – Raakan ka Rahasya is how it captures raw fear as each character faces their own demons. Avani Raut, my character, fights personal and professional battles when she is caught in the crossfire of superstition and the supernatural and resin and practicality on the other. The show puts the character Avani Raut on a quest by drawing parallels between her external and internal fears, which all of us confront. It’s been an absolute delight to bring Dahan and Avani to the audiences. I’m extremely proud to bring this layered grey character on a prestigious platform like Disney+ Hotstar.” (ANI)

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Ali Fazal, Richa Thank Friends & Fans For Wedding Wishes

By LokMarg

After celebrating his wedding festivities, actor Ali Fazal expressed gratitude to his fans, family members, and friends for sending immense love to the couple.

“We feel eternally blessed that you all came. To all our friends and those who weren’t there, thank you. We love you. You must know that. It’s been a roller coaster for us celebrating and attending to family emergencies all in one week. Such is God’s way of blessing us and keeping us humble and awarding us patience. And to take in all the love that’s pouring in. More pics to follow soon,” Ali wrote on Instagram on Friday.

He also shared a string of his and Richa Chadha’s candid images from their wedding reception in Mumbai.

Richa and Ali, who fell in love with each other on the sets of ‘Fukrey’, have been legally married for 2.5 years. They recently held sangeet, Mehendi, and wedding reception for their loved ones in Delhi, Lucknow, and Mumbai.

The duo’s Mumbai reception saw the presence of the who’s who of Bollywood including Hrithik Roshan-Saba Azad, Vicky Kaushal, Tabu, Kusha Kapila, Vishal Bhardwaj, Mallika Dua, Sayani Gupta, Mini Mathur, Manoj Bajpayee, Shweta Tripathi, Ashutosh Rana, Divya Dutta, Swara Bhasker, Esha Gupta and Taapsee Pannu among others. (ANI)

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Gauri Lankesh

Family Of Gauri Lankesh Joins Rahul For Bharat Jodo Yatra

By LokMarg

Family members of journalist and activist Gauri Lankesh, who was murdered in 2017, joined Congress’ Bharat Jodo Yatra led by Rahul Gandhi on Friday.

Indira Lankesh and Kavitha Lankesh – mother and sister of journalist walked with Congress leader Rahul Gandhi as they participated in the party’s march.
Senior journalist and activist Gauri Lankesh was shot dead at her residence in Bengaluru’s Rajarajeshwari Naga on September 5, 2017.

Lankesh was the editor of the Gauri Lankesh Patrike, a magazine described as an ‘anti-establishment’ publication.

In November 2016, she was convicted of defamation and was sentenced to six months in jail, after she ran a piece in 2008 that Prahlad Joshi, a BJP MP from Dharwad, and Umesh Dushi, also of the BJP, found objectionable. However, the court also granted her bail and allowed her to appeal to a higher court.

Meanwhile, taking to Twitter, Rahul Gandhi shared a picture of the march with Gauri Lankesh’s mother and sister and said that he stands with Gauri Lankesh and countless others like her, who represent the true spirit of India.

“Gauri stood for Truth. Gauri stood for Courage. Gauri stood for Freedom. I stand for Gauri Lankesh and countless others like her, who represent the true spirit of India. Bharat Jodo Yatra is their voice. It can never be silenced,” he tweeted.

As the Bharat Jodo Yatra entered its 30th day on Friday, Congress MP Rahul Gandhi and party workers resumed the padayatra from K Malenahalli in Mandya in Karnataka.

The padayatra will be concluded today at Adhichunchanagiri Matha Stadium.

On Thursday Sonia Gandhi joined the Party Padyatra in the Mandya district of Karnataka.

“We’ve sailed through storms in the past. Today, too, we will break the limits of all challenges and will together unite India,” Rahul tweeted and posted a photograph of him walking with his mother, his arm around her.

Rahul Gandhi is currently leading Bharat Jodo Yatra- the 3,500-km march from Kanyakumari to Kashmir, covering as many as 12 states. The Padyatra (march) will cover a distance of 25 km every day.

The Padyatra (march) is covering a distance of 25 km every day. The march was aimed to cover as many as 12 states in five months. It will be in Karnataka for 21 days before moving north.

According to Congress, the ‘Bharat Jodo Yatra’ is being held to combat the divisive politics of the BJP-led Centre and to awaken the people of the country to the dangers of economic inequalities, social polarisation, and political centralization.

Notably, all the party MPs, leaders, and workers along with Rahul Gandhi are staying in containers. Sleeping beds, toilets, and ACs are also installed in some of the containers. During the journey, the temperature and environment will differ in many areas. The arrangements have been made keeping in view the intense heat and humidity with the change of places.

The Congress suffered a debacle in the assembly polls held earlier this year and the Yatra is seen as an attempt to rally the party rank and file for the upcoming electoral battles. (ANI)

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Demise Of Actor Arun Bali

Bollywood Celebs Mourn Demise Of Actor Arun Bali

By LokMarg

Bollywood actors Abhishek Bachchan, Neena Gupta and singer Guru Randhawa, on Friday, mourned the demise of veteran actor Arun Bali.

Taking to Instagram, Neena shared a post which she captioned, “Goodbye #ArunBali. My first day of shoot on the Parampara series set years ago with Arun Bali. So glad we got to shoot recently for Goodbye.”
https://www.instagram.com/p/CjZy1YQM8DW/

In the picture, the ‘Badhaai Ho’ actor could be seen sitting alongside veteran actor Arun Bali dressed up as a priest.

Actor Abhishek Bachchan wrote, “Very sad to hear of the passing of Arun Bali Ji. A wonderfully warm and loving man. Had the pleasure to share screen space with him on several films. My condolences to his family. Om Shanti.”

Singer Guru Randhawa shared a post on his Instagram stories which he captioned, “Rest in peace sir.”

Veteran actor Arun Bali is no more. Known for his various performances in Bollywood films, Arun Bali breathed his last in the wee hours at 4:30 am on Friday. He was 79.

While more details are awaited in this regard, it’s important to mention that some reports suggest Bali hasn’t been keeping well for quite some time.

He has two daughters who reside in the US. Both of them will be landing in Mumbai on Saturday, and only after that will the last rites be performed.

Bali was known for his work in many films including ‘3 Idiots’, ‘Kedarnath’, ‘Panipat’, ‘Hey Ram’, ‘Dand Nayak’, ‘Ready’, ‘Zameen’, ‘Policewala Gunda’, ‘Phool Aur Angaar’, and ‘Ram Jaane’.

He also worked in many TV serials. He portrayed King Porus in the 1991 historical drama ‘Chanakya’, Kunwar Singh in the Doordarshan soap opera ‘Swabhimaan’, and Huseyn Shaheed Suhrawardy, the Chief Minister of undivided Bengal, in the contentious and critically praised 2000 movie ‘Hey Ram.

He was also a National Award-winning producer. (ANI)

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Hamas Israel

India Objects To US Envoy Blome’s Visit To POK

By LokMarg

India has objected to US Ambassador to Pakistan Donald Blome’s visit to Pakistan-occupied Kashmir (PoK) where he repeatedly referred to the region as “Azad Jammu and Kashmir.”

During a weekly presser, Ministry of External Affairs Spokesperson Arindam Bagchi said, “Our objections to the visit and meetings in PoK by the US envoy have been conveyed to the US side.”
US ambassador to Pakistan Blome during his visit to PoK throughout mentioned PoK as AJK (Azad Jammu and Kashmir). India has conveyed to the United States its objections over the US diplomat’s visit and controversial reference to PoK as Azad Kashmir.

This is the second high-profile visit by a US diplomat to Pakistan-occupied Kashmir. Earlier this year US Congresswomen Ilhan Omar visited PoK. India in a strongly worded statement had then said, “She visited a part of Jammu and Kashmir illegally occupied by Pakistan. If such a politician wishes to practice her narrow-minded politics at home that may be her business, but violating our territorial integrity in its pursuit makes it ours.”

India in 1994 had passed a resolution saying PoK is part of India and Pakistan must vacate and end its illegal occupation. A few months ago, Defence minister Rajnath Singh said ” Pakistan-occupied-Kashmir (PoK) is a part of Indian territory and will continue to be so.”

Earlier, the Ministry of External Affairs (MEA) had said that the government has seen reports about third countries participating in the China-Pakistan Economic Corridor (CPEC) Projects, and any such activity by any party directly infringed on India’s sovereignty and territorial integrity.

Bagchi had said India firmly and consistently opposes projects in the “so-called CPEC, which are in Indian territory that has been illegally occupied by Pakistan”. “Such activities are inherently illegal, illegitimate, and unacceptable, and will be treated accordingly by India,” the official statement added. (ANI)

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