Month: August 2024

Union Finance Minister Nirmala Sitharaman, again asked the banks to focus on their core business and come with innovative products to increase deposits.

Addressing a press conference following a customary post budget meeting with the Central Board of Directors of the Reserve Bank of India (RBI), the Finance Minister stated, “The Reserve Bank and the Government are repeatedly telling the banks to pay attention to their core business activities. It is not that they are not paying attention, but collect deposits and lend with more strictness as this is the core business of banking. Later you can add some new activity if there is a mismatch between deposits and lending, and the wheel of deposit is being slowed down and lending is increasing fast.”

In reply to a question the finance minister added that she will again raise this issue with banks

“I, in fact, will be meeting with the banks for various reasons to take up comments, priority sector lending, emphasis on some of this common schemes, and also in that process, talking to them about how it is important for them to grow the banks,” she added

The RBI governor Shaktikanta Das also expressed his concern on the issue and said the central bank has alerted banks on the issue several times, lastly in the previous policy on 8th August as well. Governor Das added that from the last few months the gap between deposit and lending is over 300 points in such situations the RBI’s role is to alert the banks on the situation.

“It has been observed for last few months the gap between deposit and lending is over 300 points. Our role is to alert the banks, banks need to be cautious and use their branch network to come up with innovative schemes to reduce this gap” said Das

The Governor also added that the situation could vary from bank to bank. He mentioned that at times certain banks launch a special drive to raise deposits, so they tend to give a higher rate of interest for deposit mobilization.

He also highlighted about the situations where if the CASA deposits in a particular bank is low and they want to raise the CASA deposit percentage in their overall deposit base. So the banks temporarily for a few months increase the interests which they pay on the savings bank account and deposit accounts.

CASA deposits are the money that customers deposit into their current and savings accounts at a bank. CASA stands for Current Account Savings Account, and these accounts are a major source of funds for banks because they are cheaper than term deposits

“So this is completely deregulation and it’s for the bank to decide taking into account overall financial sector and macroeconomic conditions and the situation with regard to their balance sheet” added Das. (ANI)

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Prime Minister Narendra Modi on Saturday praised the efforts of all those involved in the conservation and protection work of Lions.

The Prime Minister also took to his X handle on the occasion of World Lion Day celebrated on August 10, to share a few stunning images of the big cats.

PM Modi highlighted that in February this year, the Union Cabinet approved the setting up of the International Big Cat Alliance, to bring together all the nations of the world where big cats reside. It seeks to build a holistic approach to boost sustainable development and also support community efforts in this regard. This endeavour, he said received an encouraging response globally.

PM Modi also extended an invite to all the wildlife lovers to visit Gir national park and witness the efforts undertaken to protect the Lion while experiencing the hospitality of the people of Gujarat.

Posting a tweet thread on X, PM Modi said, “On World Lion Day, I compliment all those working on Lion conservation and reiterate our commitment to protecting these majestic big cats. India, as we all know, is home to a large Lion population in Gir, Gujarat. Over the years, their numbers have increased significantly, which is great news.”

“In February this year, the Union Cabinet approved the setting up of the International Big Cat Alliance, to bring together all the nations of the world where big cats reside. It seeks to build a holistic approach to boost sustainable development and also support community efforts in this regard. This endeavour is receiving an encouraging response globally.”

“I also invite all wildlife lovers to Gir to discover the majestic Asiatic Lion. It will also give everyone the opportunity to witness the efforts to protect the Lion and at the same time experience the hospitality of the people of Gujarat.” (ANI)

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In a tragic plane crash, all 61 people people onboard were killed in Sao Paulo Friday afternoon, CNN reported citing a statement issued by airline Voepass.

“The company regrets to inform that all 61 people on board flight 2283 died at the scene,” Voepass said in a statement, revising the death toll down from an initial assessment of 62 dead. There were 57 passengers and four crew members on board, the company said.

The dramatic video of the plane crash has been circulating online, showing how its wrecked fuselage caught fire.

Although it’s unclear if any of the passengers held dual citizenship, airline personnel stated that every passenger had Brazilian documentation.

The ATR 72-500, a twin-engine turboprop plane, descended 17,000 feet in less than a minute, according to flight monitoring data, although the reason for this is yet unknown, CNN reported.

The flight, was en route to Guarulhos, in Sao Paulo state, from Cascavel in the Brazilian state of Parana.

It lost signal shortly after leaving Cascavel before 1:30 p.m. local time (12:30 p.m. ET), according to Flightradar24 data.

Further, the flight began descending, losing altitude a minute before the crash.

The plane was at 17,000 feet until 1:21 p.m. local time, when it dropped approximately 250 feet in 10 seconds, the CNN report said.

The flight then saw an ascent of approximately 400 feet in about eight seconds. After eight seconds, it lost just under 2,000 feet. Then, in approximately one minute, the flight began rapidly descending – losing roughly 17,000 feet in just one minute, the report added.

The last data transmission from the plane was at 1:22 p.m. local time.

Brazilian President Luiz Inacio Lula da Silva has declared three days of mourning for the victims.

There is no information on what led to the tragic plane crash.

An investigation is underway. (ANI)

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Prime Minister Narendra Modi undertook an aerial survey of the landslide-affected areas in Wayanad on Saturday before physically visiting the location of the disaster to review relief and rehabilitation efforts in the region.

CM Pinarayi Vijayan accompanied the Prime Minister in the aerial survey.

During the survey, PM Modi saw the origin of the landslide, the Iruvazhinji Puzha (River).

He also observed the worst affected areas of Punchirimattam, Mundakkai and Chooralmala.

Following the aerial survey, the Prime Minister will visit on-the-ground locations impacted by the disaster and receive a briefing from rescue teams regarding the evacuation operations currently underway.

PM Modi is also expected to oversee the rehabilitation efforts in the area to ensure effective support for those affected.

The Prime Minister will also visit the relief camp and hospital, where he will meet and interact with the victims and survivors of the landslide.

Following his site visits, the Prime Minister will chair a review meeting where he will be briefed in detail about the incident and the ongoing relief efforts.

Massive landslides hit Chooralmala and Mundakkai of Wayanad on July 30 creating widespread devastation. According to the district administration, 226 bodies have been recovered and 403 body parts have been found in the disaster-hit place.

In a press conference in Thiruvananthapuram, Chief Minister Pinarayi Vijayan said that the state has requested the central government to declare this as a national disaster and a severe calamity.

Kerala state government has assured immediate assistance to those affected by the landslide in Mundakkai and Chooralmala areas of Wayanad district, helping them relocate to another place, according to an official press release from the Chief Minister’s Office.

All those affected in Mundakkai and Chooralmala areas will receive this assistance. An adult member from families who have lost their livelihood will receive a daily allowance of Rs. 300. This benefit will be available for up to two individuals per family.

For families with bedridden or long-term hospitalized patients, the allowance will be extended to three individuals. This assistance will be provided for a duration of 30 days.

Each family currently staying in relief camps will receive immediate financial assistance of Rs 10,000. (ANI)

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Director-producer-screenwriter Kiran Rao on Friday attended the screening of her film ‘Laapataa Ladies’ at the Supreme Court of India.

Talking to reporters ahead of the screening, she was deeply honoured and that it “fills her heart” with immense pride that the apex court had chosen her film to be shown as part of the activities to commemorate the 75th year of the establishment of the Supreme Court of India.

“It fills my heart with immense pride to see ‘Laapataa Ladies’ making history by being screened at the Supreme Court of India. I am deeply grateful to the honourable Chief Justice of India D.Y. Chandrachud for this rare honour,” Rao said.

“From the beginning, we had hoped that the story of Phool and Jaya would resonate deeply, but the outpouring of love from audiences has been nothing short of extraordinary, far exceeding our expectations. Thank you all for giving our film such love and support,” said the ace director as per a statement shared by Kiran Rao’s team.

Ahead of the screening Kiran Rao was spotted leaving from Court No 1 of the Supreme Court after attending a hearing.

Actor Aamir Khan also attended the court hearing and was welcomed by the Chief Justice of India DY Chandrachud. He said, “I don’t want a stampede in the court, but we welcome Mr Aamir Khan who is here for the screening of the film.”

Aamir Khan sat in the front row of the court and watched the court’s proceedings for about 30 minutes.

The screening of the film was held for the judges of the Supreme Court, their spouses and members of the registry.

‘Laapataa Ladies,’ based on the theme of gender equality was screened at the auditorium of the apex court’s administrative building complex.

The film starring Ravi Kishan, Nitanshi Goel, Pratibha Ratna, and Sparsh Shrivastav in pivotal roles had premiered at the Toronto International Film Festival (TIFF) in September 2023. The film received a standing ovation at the festival.

“As part of the activities organized during the seventy-fifth year of the establishment of the Supreme Court of India, the movie ‘Laapataa Ladies’, which is based on the theme of gender equality, will be screened on Friday, August 9, 2024, in the Auditorium, C-Block, Administrative Building Complex. Kiran Rao, who has directed the movie, and Aamir Khan, the producer, will also be present during the screening,” the circular stated. (ANI)

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Prime Minister Narendra Modi will be visiting Wayanad on Saturday, to assess the ongoing relief and rehabilitation efforts following recent landslides in the region.

The Prime Minister is scheduled to arrive in Kannaur at approximately 11 am, from where he will undertake an aerial survey of the landslide-affected areas in Wayanad.

Around 12:15 pm, the Prime Minister will visit on-the-ground locations impacted by the disaster, where he will receive a briefing from rescue teams regarding the evacuation operations currently underway.

PM Modi is expected to oversee the rehabilitation efforts in the area to ensure effective support for those affected.

The Prime Minister will also visit the relief camp and hospital where he will meet and interact with the victims and survivors of the landslide.

The PM will thereafter chair a review meeting where he will be briefed in detail about the incident and the ongoing relief efforts.

Massive landslides hit Chooralmala and Mundakkai of Wayanad on July 30 creating widespread devastation.

In a press conference in Thiruvananthapuram, Chief Minister Pinarayi Vijayan said that the state has requested the central government to declare this as a national disaster and a severe calamity.

Kerala state government will provide immediate assistance to those affected by the landslide in Mundakkai and Chooralmala areas of Wayanad district, helping them relocate to another place, according to an official press release from Kerala CMO.

All those affected in Mundakkai and Chooralmala areas will receive this assistance. An adult member from families who have lost their livelihood will receive a daily allowance of Rs. 300. This benefit will be available for up to two individuals per family. For families with bedridden or long-term hospitalized patients, the allowance will be extended to three individuals. This assistance will be provided for a duration of 30 days.

Each family currently staying in relief camps will receive immediate financial assistance of Rs. 10,000. (ANI)

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Soon after coming out of the Tihar jail today, former Deputy Chief Minister and AAP leader Manish Sisodia credited the Constitution written by Babasaheb Ambedkar for his release and exuded confidence that Delhi Chief Minister Arvind Kejriwal will also walk out of jail soon.

“I have come out of jail due to your love, God’s blessings and power of truth, and biggest of all, the dream of Babasaheb that if any dictatorial government comes to power and puts Opposition leaders behind bars by forming dictatorial laws, then this country’s Constitution will protect them. I assure you that with this power of the Constitution, Arvind Kejriwal will come out of jail as well,” Sisodia addressed the party workers soon after coming out of jail.

Sisodia remained in jail for almost 18 months without trial.

“Bharat mata ji jai! Inquilab Zindabad!” cheered Manish Sisodia upon his release.

“Ever since this order came in the morning, every inch of my skin has been feeling indebted to Babasaheb. I don’t understand how will pay off this debt to Babasaheb,” Sisodia said.

Manish Sisodia also greeted party leaders and workers who had gathered outside Tihar Jail to welcome him.

The Supreme Court on Friday granted bail to Manish Sisodia in the excise policy irregularities cases. The order has been delivered by a bench of justices B R Gavai and K V Viswanathan. The court also imposed various conditions including surrendering the passport and not influencing witnesses.

During the hearing, Additional Solicitor General SV Raju, appearing for the probe agencies, had raised apprehension that witnesses may be influenced.

In February 2023, Sisodia was arrested by the CBI for alleged irregularities in the framing and implementation of now-scrapped Delhi’s new excise policy.

According to the CBI, Sisodia had played the most vital role in the criminal conspiracy and he had been deeply involved in the formulation as well as the implementation of the said policy to ensure the achievement of the objectives of the said conspiracy. (ANI)

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As Rajya Sabha witnessed repeated adjournments due to a tense situation when the opposition walked out following a heated exchange with Chairman Jagdeep Dhankhar over BJP MP Ghanshyam Tiwari’s remarks against Leader of the Opposition Mallikarjun Kharge, the Vice-President expressed disappointment over “intemperate language without any premise and going to media and getting traction, adding that members should take resolve to ensure that the sacred precincts of Rajya Sabha is not allowed to be a ground for destabilising democracy.

He also urged members who staged a walkout to soul search, engage in introspection, take into consideration their oath under the constitution, and prepare for vigorous participation in a constructive manner in forthcoming sessions.

“I would urge each one of you also to please reach out, the Members of this House you can, so that we all in this House on some issues, issues of National importance, get bipartisan, rise above party interests, and send a message to the country and the world at large, that this country, having the most vibrant, functional democracy, a country that is the mother of democracy, a country that is the oldest and largest democracy, will continue to be hope for the entire world. With these words of expectation, request, pleading and urging, I will take up the essential agenda,” he said.

“If untruth, something which is far distanced from truth, gets traction, it is bothersome. Our resolve to ensure that the sacred precincts of Rajya Sabha be not allowed to be a ground for destabilising democracy,” he added.

Earlier, Congress MPs demanded an apology from Tiwari for his remarks made on August 1, but the Rajya Sabha chairman insisted that the issue was resolved privately with the leaders.The Opposition Rajya Sabha MPs also demanded to expunge the remarks of Ghanshyam Tiwari about LoP, while Samajwadi Party MP Jaya Bachchan made remarks about the tone of Chairman Dhankhar.The Chairman took strong exception to Jaya Bachchan’s remarks, saying he does not want schooling and that he does not go by any script and has his script. On this, the Opposition members staged a walkout from Rajya Sabha.

During the conclusion of the 265th Session of the Rajya Sabha, he said,”I have therefore no doubt that my appeal to the Members who are not present today will persuade them to soul search, engage in introspection, think about their duty to the nation, take into consideration their oath under the constitution, and prepare for vigorous participation in a constructive manner in forthcoming sessions.”

Dhankar urged members who walked out to “deeply reflect and consider the House proceedings and the expectations of the public.”

“I appeal to the members who are not present there out of the decision taken and reflected in the house by their walkout to deeply introspect and deliberate within themselves taking into consideration the upper house,” Dhankar said.

“The three adjournments unfortunately didn’t evoke the expected response. I will continue to work for the participation of the members to get an opportunity to perform their constitutional duty and use their energy and exposure to serve people at large,” he said.

He further said that he observed the reaction of members on various TV channels during the adhjoument and that out of respect for the institution and for every member of the House and the people at large, he had taken due care that their behaviour and conduct that was not becoming a member of Parliament did not get traction beyond the temple of democracy.”

“While the house was adjourned, I saw the reaction of the members outside the house on various TV channels. I wish to inform the people at large that out of respect for this institution and out of respect for the dignity of every member, I have taken due care and caution to ensure that our behaviour of not being members of the Parliament doesn’t get traction beyond the temple of democracy,” he said.(ANI)

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The Supreme Court on Friday partially stayed a circular issued by Chembur College in Mumbai by which it had banned students wearing hijab, stole, or cap on the campus.

A bench of Justices Sanjiv Khanna and Sanjay Kumar issued notice on the petition challenging the ban and stayed the ban on hijab and caps.

In its order, the bench stated, “We issue a notice in the week commencing November 18. We partly stay clause 2 of the impugned circular to the extent that it directs that no hijab, no cap, and no badges will be allowed. We hope and trust this interim order is not misused by anybody.”

During the hearing, the bench expressed surprise at the condition imposed by the college and questioned the rationale behind the decision.

The apex court said the students should be allowed to wear what they want to and the decision of the college would work against empowering women.

The bench said to senior advocate Madhvi Divan appearing for the college, “How are you empowering women by telling them what to wear? Less said the better. Where is the choice for the woman? You have suddenly woken up to the fact that they are wearing it…”

The college’s counsel said that it does not want the religion of students to be revealed.

To this, Justice Khanna said, “Religion is there in the names also. Do not impose such rules.”

“Will you say that somebody wearing bindi or tilak will not be allowed?” asked Justice Khanna from Divan.

Divan then told the bench that face-covering nakabs/burkha are barriers to interaction with students.

The apex court agreed that face-covering veils cannot be allowed in class and it did not interfere with that part of the instructions preventing wearing naqab or burqa.

An appeal was filed against the Bombay High Court order upholding the ban by a Chembur college on students wearing a burqa, hijab, niqab, stole, or cap on the campus.

The order of the High Court was challenged in the apex court.

In June, the Bombay High Court dismissed the plea filed by a group of girl students challenging the ban imposed by a college in Mumbai on wearing hijab, niqab, burkha, stole, caps, or any kind of badge in the classroom.

It had said that it was not inclined to interfere in the decision of the college administration.

The students were from Chembur Trombay Education Society’s NG Acharya and DK Marathe College.

The second and third years of B.Sc and B.Sc (Computer Science) programmes had claimed that the new dress code violates their fundamental rights to privacy, dignity, and religious freedom.

The college had told the High Court that the ban applies to all religious symbols and is not targeted at Muslims.

The High Court in its order had stated, “We are satisfied that the instructions issued by the College under which a dress code has been prescribed for its students does not suffer from any infirmity so as to violate provisions of Article 19(1)(a) and Article 25 of the Constitution of India. The object behind issuing the same is that the dress of a student should not reveal his/her religion which is a step towards ensuring that the students focus on gaining knowledge and education which is in their larger interest.” (ANI)

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