May 2023 - Page 51 of 51 - Lokmarg

JP Morgan To Acquire Assets Of First Republic Bank

By LokMarg 1st May 2023

US-based First Republic Bank was closed on Monday (local time) by the local regulators and entered into an agreement with JP Morgan Chase Bank to purchase and assume all deposits and assets of the troubled bank in a bid to protect depositors.

“To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase Bank, National Association, Columbus, Ohio, to assume all of the deposits and substantially all of the assets of First Republic Bank,” US agency Federal Deposit Insurance Corporation said in a statement.
JPMorgan Chase Bank, National Association submitted a bid for all of First Republic Bank’s deposits.

As part of the agreement, First Republic Bank’s 84 offices in eight states in the US will reopen as branches of JPMorgan Chase Bank, National Association starting today. All depositors of First Republic Bank will become depositors of JPMorgan Chase Bank, National Association, and will have full access to all of their deposits.

“Deposits will continue to be insured by the FDIC, and customers do not need to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Republic Bank should continue to use their existing branch until they receive notice from JPMorgan Chase Bank, National Association, that it has completed systems changes to allow other JPMorgan Chase Bank, National Association, branches to process their accounts as well,” FDIC said.

As of April 13, 2023, First Republic Bank had approximately USD 229.1 billion in total assets and USD 103.9 billion in total deposits. In addition to assuming all of the deposits, JPMorgan Chase Bank agreed to purchase “substantially” all of First Republic Bank’s assets.

One of the most prominent lenders in the world of technology startups, Silicon Valley Bank, which was struggling, first collapsed on March 10, after a run on the bank by the depositors. Its closure led to a contagion effect and the subsequent shutting down of other banks, including First Republic Bank.

The collapse of a few regional banks in the US, which started with Silicon Valley Bank, has sent ripples across the global banking industry and posed fears of a contagion effect across economies. (ANI)

Read More: http://13.232.95.176/

Modi Thanks Gates For His Words Of Appreciation For ‘Mann Ki Baat’

By LokMarg 1st May 2023

Prime Minister Narendra Modi on Monday expressed his gratitude to Microsoft co-founder and philanthropist Bill Gates for his words of appreciation on his monthly radio address “Mann Ki Baat”.

PM Modi on Monday tweeted: “I thank my friend @BillGates for his words of appreciation. #MannKiBaat reflects the collective spirit of the people of India to make our planet better, something Mr. Gates is also passionate about. The strong resonance with SDGs is highlighted well in the study by @BMGFIndia.”
The tweet was in response to Gates’ post on Saturday, saying, “Mann ki Baat has catalyzed community-led action on sanitation, health, women’s economic empowerment and other issues linked to the Sustainable Development Goals. Congratulations @narendramodi on the 100th episode.”

Indian Americans on Sunday, too, celebrated 100 episodes of PM Modi’s “Mann Ki Baat”.

External Affairs Minister (EAM) S Jaishankar decided to tune in to the programme live with the diaspora in New Jersey at 1.30 am (local time) on Sunday, hailing it as a platform that has “an emotional connect” between PM Modi and the people of India.

“10 years ago if he had mentioned that at 2.10 at night everyone would be assembling at some place and the foreign minister of India would be with you, listening to the Prime Minister of India, none of you would have believed me,” Jaishankar told members of the diaspora.

“You have to understand that PM Modi’s ‘Mann Ki Baat’ has an enormous impact not because the medium is 100 years old, somewhere there is an emotional connect between PM Modi and the people of India,” Jaishankar noted.

Also participating in the event and jointly listening to Prime Minister Modi were India’s Ambassador to the US, Taranjit Singh Sandhu, and the Consul General of India in New York, Randhir Jaiswal.

The 30-minute program was also broadcast at the United Nations headquarters in New York, again in the wee hours.

Indian Permanent Mission to UN on Sunday tweeted: “A singular connect! Special moments from the Trusteeship Council at UN Headquarters, New York, where #MannKiAtBaat100 went LIVE, leaving all inspired and motivated.” (ANI)

Read More: http://13.232.95.176/

BJP Should Release Report Card Before Manifesto: Siddaramaiah

By LokMarg 1st May 2023

Moments after the BJP released its manifesto for the May 10 Kanataka Assembly elections, Congress leader Siddaramaiah on Monday hit out at the ruling party claiming it did not fulfill the majority of its promises ahead of the previous elections.

Daring the saffron party to release a “report card” along with its manifesto, Siddaramaiah said the BJP stands for “betrayers”.
“@BJP4Karnataka should release their report card before their new manifesto. BJP leaders have no regards for the promises they make. They have not fulfilled more than 90 per cent of their promises made in the previous elections. BJP means betrayers,” the Congress leader tweeted.

Earlier, on Monday, the ruling Bharatiya Janata Party released its manifesto at an event in Bengaluru on Monday, making a host of promises topping which was provision of 3 free cooking gas cylinders to all BPL (Below Poverty Level) families annually.

Free cooking gas cylinders will be provided in three installments of one cylinder each in the months of Yugadi, Ganesh Chaturthi and Deepavali.

The manifesto or the vision document was released by the BJP’s national president JP Nadda in the presence of Chief Minister Basavaraj Bommai and his predecessor and Lingayat stalwart BS Yediyurappa.

Also, in an announcement similar to the one in the run-up to the Gujarat and Uttarakhand Assembly polls last year, the BJP promised to implement Uniform Civil Code (UCC) in Karnataka on the basis of the recommendations of a high-level committee which is to be constituted for the purpose.

The ruling party, in all, made 16 promises in its vision document which promised to launch the ‘Poshana’ (nutrition) scheme through which every BPL household will be provided with half litre Nandini milk every day and 5 kg Shri Anna-siri dhanya (millets) through monthly ration kits.

“We will introduce the Visvesvaraya Vidya Yojane under which the state government will partner with eminent individuals and institutions for holistic upgradation of government schools to top class standards,” the manifesto said.

The BJP also promised to launch the ‘Samanvaya’ scheme to drive collaboration between SMEs and ITIs and generate a dynamic ecosystem of education and employment for talented young professionals.

“We will provide career support for aspirational youth by providing financial incentives for students to pursue coaching for IAS/KAS/banking/government jobs,” it said.

Underlining its commitment to the healthcare sector, the BJP said it will strengthen the public healthcare infrastructure in the state through ‘Mission Swasthya Karnataka’ by establishing one Namma clinic, equipped with diagnostic facilities, in every ward of municipal corporations.

“Additionally, we will also provide a free annual master health check-up for senior citizens,” the party stated in the vision document.

“We will develop Bengaluru for the next generation by designating it as ‘State Capital Region’, and executing a comprehensive, technology-led city development program – centred around Ease of Life, cohesive transportation networks and enabling ecosystems for making Bengaluru a Global Hub of Digital Innovation,” the manifesto said.

Karnataka will go to Assembly polls on May 10 and the counting of votes will be done on May 13. (ANI)

Read More: http://13.232.95.176/

Tunisha Case: Sheezan Files Plea In Seeking Return Of Passport

By LokMarg 1st May 2023

Television actor Sheezan Khan, the prime accused in the death case of co-star and ex-girlfriend actress Tunisha Sharma, has filed an application in Maharashtra’s Vasai court seeking a direction to the police to return his passport which was earlier seized during the investigation of the ongoing case, sources said on Monday.

Vasai court will hear the application of Sheezan Khan on Tuesday.
Sources said that in his application, Sheezan said that he has to fly abroad for shootings for which he would need his passport.

Sheezan was arrested in December last year and was under judicial custody before being released on bail from Thane Central Jail earlier on March 5.

The Vasai Court had ordered Sheezan’s bail with Rs 1 Lakh surety bond and had asked the actor to submit his passport as well.

Waliv Police had filed a 524-page chargesheet in the Vasai court accusing Sheezan in the 21-year-old actress’ suicide case.

Moreover, Sheezan’s family had earlier claimed that he had been falsely implicated in the case by the late actor’s mother and further claimed that Tunisha was like a “family” to them.

Sheezan was reportedly dating his ‘Ali Baba Dastaan-E-Kabul’ co-star Tunisha, who was allegedly found hanging at a TV serial set, a fortnight after the duo broke up ending their months-long relationship.

Within hours of the actress’ death, Sheezan was arrested on the charges of ‘Abetment to Suicide’.

Tunisha’s mother Vanita Sharma leveled heinous allegations against Sheezan after the actress’ death stating that he used to beat Tunisha and forced her to adopt Islamic practices.

Although, Sheezan’s sister and fellow co-star Falaq Naaz, accused Tunisha’s mother of “neglecting” her and the actress’ depression was due to her childhood trauma.

“Tunisha’s mother accepted that she has been neglecting her daughter and didn’t take care of her. Tunisha’s depression was due to her childhood trauma,” Falaq Naaz had said. (ANI)

Read More: http://13.232.95.176/

Nadda Releases BJP’s Manifesto For Karnataka Polls

By LokMarg 1st May 2023

Bharatiya Janata Party national president JP Nadda on Monday released the party’s manifesto or vision document for the Karnataka Assembly elections in Bengaluru.

Chief Minister Basavaraj Bommai, former Chief Minister BS Yediyurappa were also present on the occasion.
In previous manifestoes, the BJP has claimed to have touched every section of society.

In its manifesto for the 2018 Assembly polls, the party had also included cow protection measures in its manifesto.

Prime Minister Narendra Modi is also campaigning in the last leg of the BJP’s campaign for the Karnataka polls.

He has already conducted a number of rallies and held roadshows, the latest of which was in Mysuru, a traditional JDS bastion, on Sunday.

Considered as a triangular contest between the BJP, Congress and the JDS, all parties are trying hard and leaving no stone unturned while some political leaders have indulged in hurling abuses. The Congress, which fought the last Assembly polls in alliance with the JDS, decided to go it alone this time around.

On Sunday, PM Modi, while addressing an election rally in Kolar, came down heavily on Congress national president Mallikarjuna Kharge over his “poisonous snake” barb at him.

PM Modi said the people of Karnataka will give the party a “befitting reply” to Kharge’s remark in the Assembly elections.

At a campaign rally in Kalaburagi on Thursday, the Congress national president said, “PM Modi is like a ‘poisonous snake’, you might wonder if it’s poison or not. But if you lick it, you are dead.”

Hitting back over the remark, PM Modi said, “The Congress is clearly disturbed over my ongoing fight against corruption. It has even started threaening me. They are saying ‘Modi teri kabar khudegi’ (PM Modi, your grave will be dug). It seems the Congress’s only talking point in these elections is snake poison. They are comparing me to a snake and seeking votes on it. The people of Karnataka are like Lord Shiva to me. I don’t mind being the snake around the necks of people who are like god to me. The people of Karnataka will give them a befitting reply on May 10.”

PM Modi also labeled the Congress as an “outdated engine”.

The counting of votes for the Karnataka Assembly will be held on May 13. (ANI)

Read More: http://13.232.95.176/

Commercial LPG Cylinder Prices Slashed By Rs 171.5

By LokMarg 1st May 2023

Petroleum and oil marketing companies have slashed the price of Commercial LPG cylinders by Rs 171.50 with immediate effect, according to sources on Monday.

After the move, the latest retail price of a 19 kg LPG cylinder in Delhi now stands at Rs 1,856.50.
Last month, too, their prices were reduced by Rs 91.50 per unit, standing at Rs 2,028 per unit.

Petroleum and oil marketing companies had on March 1 this year hiked the prices of commercial LPG cylinders by Rs 350.50 per unit and domestic LPG cylinders by Rs 50 per unit.

The prices of the commercial cylinders were reduced the last time on September 1 last year by Rs 91.50. On August 1, 2022, too, the prices of commercial LPG cylinders were reduced by Rs 36. Prior to that, on July 6, rates for the 19-kilogram commercial cylinder were cut by Rs 8.5 per unit. (ANI)

Read More: http://13.232.95.176/

Centre Blocks 14 Apps In J&K For Promoting Terror

By LokMarg 1st May 2023

After getting inputs from intelligence agencies, the central government has blocked 14 messenger mobile applications that were largely used in Jammu and Kashmir for spreading terror, sources said.

According to sources, these mobile applications were used by terrorists in Kashmir to communicate with their supporters and on-ground workers (OGW).
“Agencies keep track of channels used by Overground workers (OGWs) and terrorists to communicate among themselves. While tracking down one of the communication, agencies found that the mobile application does not have representatives in India and it is difficult to track down activities happening on the app,” said an official.

Thereafter, with the help of other intelligence agencies operating in the valley, a list of such apps was prepared that pose a threat to national security and do not follow Indian laws. After getting the list prepared, the concerned Ministry was informed of the request to ban these mobile applications. These apps have been blocked under Section 69A of the Information Technology Act, 2000, the official added.

In official communications to higher-ups, the intelligence agencies informed that these apps are spreading terror propaganda in the Valley.

Sources said these apps include Crypviser, Enigma, Safeswiss, Wickrme, Mediafire, Briar, BChat, Nandbox, Conion, IMO, Element, Second Line, Zangi, and Threema among others. (ANI)

Read More: http://13.232.95.176/