Aviyukta Adlakha | Business Upturn

Vladimir Putin expresses urge to stop eastern expansion by NATO

Aviyukta Adlakha — Thu, 23 Dec 2021 14:53:24 +0000

Russian President Vladimir Putin expressed his urge to stop eastern expansion by NATO, North Atlantic Treaty Organization (NATO) eastward, in order to ensure security. He welcomed upcoming talks with the USA in Geneva and at the same time kept forward his demand against the deployment of weapons to neighbouring countries at the marathon annual news conference in Moscow.

“We want to ensure our security. We put it straight: ‘There must be no further expansion of NATO eastward. What is unclear here? Are we putting missiles next to the United States’ borders? No, it is the United States that has come to us with their missiles, they are already on our doorstep,” said President Putin.

He mentioned that Russia cannot live in constant anticipation of the security threats posed by the possible deployment of Western weapons in Ukraine forever and hence a strict action is required. The previous five waves of NATO expansion were also put into light at the conference.

Russia has placed its demands against granting Ukraine NATO membership already last week. While the presence of Russian troop build-up along the border has invoked invasion fears already in its neighbours. on the other hand, United States President, Joe Biden, has warned Vladimir Putin that Russia will have to face severe consequences if it plans to attack Ukraine whereas Putin has denied any such allegations of planning attacks.

European Investment Bank to fund €250 million for Agra Metro Rail project: Finance Ministry

Aviyukta Adlakha — Thu, 23 Dec 2021 14:02:11 +0000

The Government of India and European Investment Bank signed a Finance Contract on Wednesday for the first tranche loan of Euro 250 million out of the total 450 million to fund the Agra Metro Rail Project.

‘The document has been signed in Delhi and Brussels by Mr. Edvardas Bumsteinas jointly with Mr. Roger Stuart, Head of Divisions representing European Investment Bank, and Mr. Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance representing the Government of India,” as per reports.

The Agra rail project aims to provide a safe, reliable, affordable, and environment-friendly public Mass Rapid Transit System for Agra city in order to improve mobility and for aid in the planned urban development in Agra apart from providing economic productivity as well as job creation.

The financing from EIB will be used to fund the construction of a 29.4 km metro corridor that comprises Corridor-1 from Sikandara to Taj East Gate and Corridor-2 from Agra Cantt to Kalindi Vihar in Agra City. The line ministry for this project is the Ministry of Housing and Urban Affairs while the implementing agency is Uttar Pradesh Metro Rail Corporation Ltd.

National Stock Exchange launches ‘NSE Prime,’ Check details here

Aviyukta Adlakha — Tue, 21 Dec 2021 15:02:56 +0000

NSE, the National Stock Exchange, launched NSE Prime, a new corporate governance initiative that the companies listed on the exchange can adopt voluntarily.

NSE Prime is basically a framework that prescribes higher standards of corporate governance like high-quality public information and greater transparency for listed companies other than those mandatorily required by regulations. Companies can voluntarily be a part of this initiative and will be monitored by NSE.

This initiative is expected to raise the bar for corporate governance standards in India. It will enable investors to identify companies that have voluntarily signed up for higher standards of corporate governance and hence broaden the quality of investors in listed companies which will strengthen trust in the Indian capital markets.

“Improved corporate governance standards, greater transparency, and better disclosures will help companies build stronger and sustainable businesses that can stand the test of time. This will not only help companies and investors but also accelerate market development at large,” said Vikram Limaye, MD and CEO of NSE.

Uday Kotak, MD, and CEO of Kotak Mahindra Bank said to Yahoo!, “Corporate governance is the key to investor trust in corporations. Corporates need to be able to build their strategic guardrails along with transparency on how they operate. NSE’s initiative is another step in the direction of raising the standards of corporate governance.”

India ranks 3rd in WADA’s doping violators list

Aviyukta Adlakha — Tue, 21 Dec 2021 14:27:39 +0000

India is named in the top three world’s biggest doping violators in a WADA, World Anti-Doping Agency, report. The report published mentions 152 violations by India which constitutes about 17% of the total Anti-doping rule violations in the world. While Russia recorded 167 violators, having the top violators Brazil ranked second. Russia was not allowed to field its national team in Tokyo Olympics for not complying with international anti-doping rules.

India mainly had violations in bodybuilding, weightlifting, and athletics leading to the country’s major embarrassing record. 57 cases alone from bodybuilding making it the making violations from any other sport. Weightlifting recorded 25, 10 from wrestling, 20 from athletics while 4 were recorded from boxing and judo. India earlier ranked 4 in the list.

A total of 278,047 samples were collected and analyzed by WADA-accredited laboratories in 2019 out of which 1% reported critical findings. Speaking of the Olympics, 18% of dope offenders were solely from athletics counting to 227.

SEBI disposes off insider trading case against Dish TV’s corporate promoter

Aviyukta Adlakha — Tue, 21 Dec 2021 13:43:09 +0000

SEBI, the Stock Exchange Board of India has disposed of the case against Direct Media Distribution Ventures Pvt Ltd, Dish TV India’s corporate promoter, for insider trading. It was alleged for violating provisions of prohibition of insider trading norms, according to an order passed on Tuesday. This order followed an investigation conducted by SEBI in Dish TV’s script from January 2019 to February 2019.

Direct Media Distribution Ventures Pvt Ltd was alleged to have traded in Dish TV’s shares while in possession of unpublished price sensitive information (UPSI) which pertained to the approval of Dish TV’s financial results for the nine months and quarter ended December 31, 2018.

In respect of approval of investment of Rs 3,000 crore, to be made by Dish TV, in its wholly-owned subsidiary. It was accused of selling 21.4 lakh shares of Dish TV while in possession of UPSI.

However, Sebi noted that “the trading pattern of the Notice, does not lead to the conclusion that Noticee’s trades in the scrip of DTIL on January 29, 2019, were induced by the UPSI.”

LIC’s IPO to be out in the last quarter of current fiscal year: DIPAM

Aviyukta Adlakha — Sun, 19 Dec 2021 14:04:37 +0000

DIPAM has condemned the media reports on LIC’s IPO that it’s not likely to be in time and to be out by next year. DIPAM stated that the IPO is expected to be out by the last quarter of this fiscal year. The process for the release is in process, as IPO requires not only SEBI’s (Securities and Exchange Board of India) but also the IRDAI’s (Insurance Regulatory and Development Authority of India) nod. This process will take quite a several months due to the product mix, assets, profitability structure, etc but will probably be out on time.

“The tying up of loose ends among the bureaucracy and different departments consumes its own time and that is what we are trying to speed up,” Finance Minister Nirmala Sitharaman said. DIPAM has kept all such factors in mind while releasing its expected date.

The in-principle approval for the listing of LIC was given in July by The Cabinet Committee on Economic Affairs (CCEA). Hence the government has already appointed 10 merchant bankers for the transaction and in order to facilitate the listing of LIC, the government earlier this year made about 27 amendments to the Life Insurance Corporation Act, 1956.

Some media speculation doubting the feasibility of LIC IPO this fiscal year is not correct. It is reiterated that plan is on course for the IPO in the last quarter of this fiscal. pic.twitter.com/E01nDZjnSu

— Secretary, DIPAM (@SecyDIPAM) December 19, 2021

Foreign Investors pull out ₹17,696 crore in Dec amid Omicron uncertainty

Aviyukta Adlakha — Sun, 19 Dec 2021 07:47:47 +0000

Foreign portfolio investors (FPIs) have pulled out ₹17,696 crore from the Indian markets in December due to Omicron uncertainty, and expectations of faster tapering by the US Federal Reserve. If the situation worsens, the investors might further redeem investments from turmoil-prone markets like India.

“There continue to be uncertainties on the global as well as domestic fronts. Also, the economic growth has also been relatively slow, and India’s earnings have not grown much,” Himanshu Srivastava, Associate Director – Manager Research, Morningstar India said to PTI. High-quality banking stocks have been made attractive from the valuation perspective due to sustained FPI.

According to PTI, Shrikant Chouhan, Head – Equity Research (Retail), Kotak Securities said South Korea, the Philippines, Taiwan, Thailand, and Indonesia, witnessed inflows of USD 1,870 million, USD 1,707 million, USD 297 million, USD 94 million, and USD 57 million, respectively. “FPI flows are expected to remain volatile given key events such as upcoming state elections and monetary tightening by developed countries,” he added.

RBI issues new debit, credit card rules for online payments, Check details here

Aviyukta Adlakha — Sun, 19 Dec 2021 06:54:24 +0000

The Reserve Bank of India (RBI) has asked all merchants and payment gateways to remove sensitive customer data on cards saved on websites to make online payments safer and secure. They suggested using encrypted tokens to carry transactions instead from 1 January 2022.

The proposal puts forth tokenisation, the replacement of actual card details with a unique alternate code called the token which is different for all users as well as the devices.

So from January onwards while making a payment, you will need to give consent with an additional factor of authentication (AFA) and then enter OTP as well as CVV. The card network creates a token as a proxy to the card number and sends it to the merchant or the payment gateway after authorization. This will ensure a reduction in frauds and data compromises.

“In fact, some merchants force their customers to store card details. Availability of such details with a large number of merchants substantially increases the risk of card data being stolen. In the recent past, there were incidents where card data stored by some merchants have been compromised/leaked,” RBI said

“Any leakage of CoF data can have serious repercussions because many jurisdictions do not require an AFA for card transactions. Stolen card data can also be used to perpetrate frauds within India through social engineering techniques,” the RBI further added.

CreditAccess Grameen Limited announces business update for November, check highlights here

Aviyukta Adlakha — Thu, 16 Dec 2021 11:15:19 +0000

CreditAccess Grameen Limited has announced its business update for the month of November, on 16 December 2021. According to the data, the company’s gross loan portfolio grew by 18.0% YoY to INR 14,071 crore in Nov-21. Its consolidated disbursements stand at pre-COVID levels of INR 1,505 crore. This recovery could be linked to the customer confidence in the company.

187 new branches have been opened up by the company over the past 12 months. Total branches now stand at 1,575 which is a network growth of 13.5%. November recorded 59,930 new borrowers leading to a total cumulative addition of 2,59,662 new borrowers since July’21. Asset Quality at MMFL was largely stable with minor slippages due to the TN floods. PAR 0: 20.2% (vs. 20.0% in Oct-21), PAR 30: 14.0% (vs. 13.7% in Oct-21), PAR 60: 11.2% (vs. 10.7% in Oct-21), PAR 90: 9.3% (vs. 8.7% in Oct-21). These PAR levels are expected to reduce over the upcoming months.

“Collection Efficiency in Nov-21 was stable at 94.3% (excl. arrears)/97% (incl. arrears) for CA Grameen. Excluding the non-paying NPA customers, Collection Efficiency in Nov-21 was 98% (excl. arrears)/101% (incl. arrears) indicating near normalcy,” reported the company.

Timeline: Sheena Bora murder case

Aviyukta Adlakha — Thu, 16 Dec 2021 08:45:27 +0000

Recently the news of former media executive Indrani Mukerjea, accused of killing her daughter Sheena Bora in 2012, claims to CBI that Sheena is alive, which has brought an unexpected twist in the case. But it’s not the first time a change of story has been reported in this matter.

Here’s a complete timeline of the Sheena Bora murder case to make things clear.

May 23, 2012: In Pen, Raigad district, Police finds a body in a burnt and decomposed state.

August 25, 2015: Indrani Mukherjea, her mother, gets arrested by Mumbai Police.

August 26, 2015: Indrani’s ex-husband Sanjeev Khanna, gets arrested in Kolkata.

August 30, 2015: Indrani, Sanjeev, and Shyam are taken to pen to recreate the crime scene.

September 1, 2015: Siddhartha Das confesses that to be Sheena’s father.

September 3, 2015: Indrani claims to be a part of the conspiracy mentioning that she did not participate in the killing and only accompanied Sanjeev in the car. She also claims that Sanjeev strangulated Sheena with a stole while she sat next to him.

September 10, 2015: Cops find a threat email sent by Indrani to Sheena and Mikhail to disinherit them from the property and to stop their monthly payouts.

September 18, 2015: Case gets transferred to CBI by Maharashtra government.

September 30, 2015: CBI lodges FIR against Indrani, Sanjeev, and Shyam for the murder.

October 2, 2015: Indrani Mukherjea gets admitted in JJ Hospital, Mumbai after an overdose of antidepressants.

November 19, 2015: CBI files charge sheets against Indrani, ex-husband Sanjeev Khanna and Shyamvar Rai and arrests Peter Mukerjea.

October 21, 2016: CBI files a second supplementary charge sheet in a special CBI court in Mumbai.

December 19, 2016: CBI begins to argue on the framing of charges against the accused in court.

January 17, 2017: Peter and Indrani are charged with murder and conspiracy while the trial gets scheduled to begin on February 1, 2017. Indrani also tells the court that she wished for divorce from Peter.

June 24, 2017: Indrani protests the death of inmate Manju Govind Shette, who was allegedly beaten to death by a woman constable, along with 200 other women.

November 2017: Indrani alleges that Peter killed Sheena to which Peter, responds saying she was “playing the victim card to escape the charges. She later says it was due to inadvertent stress.

April, 2018: Indrani is hospitalized in Mumbai’s JJ Hospital while her P.A. Kajal Sharma confesses that Indrani made her forge Sheena’s signature on resignation papers that were sent to Mumbai Metro One after she was murdered.

April 23, 2018: Indrani tells the court that she fears for her life.

December 8, 2018: CBI alleges that Peter Mukerjea was one of the major conspirators in the Sheena Bora murder case.

October 3, 2019: Indrani Mukerjea, Sheena’s mother, and Peter Mukerjea, alleged conspirator, get divorced.

March 20, 2020: Peter Mukerjea comes out of the Arthur Road prison on bail after spending over four years in jail.

July 24, 2021: Special CBI court rejects Indrani’s bail plea and says that it appeared that she played an active role in abducting, murdering, and disposing of her daughter Sheena Bora with other accused.

August 17, 2021: CBI informs a special court in Mumbai about the closure of a further probe into this murder case.

December 16, 2021: Indrani claims Sheena Bora to be alive and asks CBI to probe.

India records industrial growth at 3.2% : Reports ICRA

Aviyukta Adlakha — Sat, 11 Dec 2021 08:54:08 +0000

India recorded its industrial growth at 3.2% in October instead of 2.9% as expected by ICRA. The credit to this boost could be given to the festive season that brought a boom in the primary market.

The durable sector, on the other hand, showed a contraction due to the supply shortages. Index of Industrial Production (IIP) rose by 4.8%, where GST e-bills recorded the highest in the month at 8.2%.

The capital goods market recorded output levels higher than the pre-COVID-19 level. The electricity and port traffic demands deteriorated in November. The data of ICRA also highlighted that output of the manufacturing sector rose by 2% in October and the mining output surged by 11.4%.

“Industrial growth printed at a stable yet tepid 3.2% in October 2021 (ICRA exp: 2.9%), with the festive season boost being negated by the supply side issues afflicting the auto sector, as well as a higher base. The disaggregated data does not provide convincing signals of the recovery becoming durable and broad-basing further, with capital goods and consumer durables reporting a YoY contraction in October 2021,” said Aditi Nayar, Chief Economist, ICRA Limited.

Pakistan Taliban vows to resume attack after ending month-long ceasefire with Pakistan government

Aviyukta Adlakha — Sat, 11 Dec 2021 08:49:36 +0000

Pakistani Taliban, Tehreek-e-Taliban Pakistan group, announced an end to a month-long ceasefire with the Pakistani government which started on November 9th. The group has been in fights with the Pakistan government since 2007. This comes after the authorities made peace talks with the group that carried out various violent attacks on the civilians.

Information Minister Fawad Chaudhry confirmed that the month-long ceasefire had been agreed upon between the government and the TTP on November 8th, reported Al Jazeera.

Pakistan’s national security, peace, and social and economic stability were considered for the talks between the two. PM Imran Khan announced publicly about the aforesaid talks after the victory of Afghan-Taliban, which is allied to the Pakistan-Taliban over Afghanistan’s government.

Afghan Foreign Minister Amir Khan Muttaqi confirmed as per Al Jazeera that the Afghan Taliban were acting as mediators in the talks, on November 14th.

This agreement came into effect on the cost of releasing 102 TTP prisoners which is however more dangerous for the state and can be considered a part of the was and not a win-win situation.

Hurun India releases 500 most valuable companies list, Reliance tops the chart

Aviyukta Adlakha — Fri, 10 Dec 2021 17:33:04 +0000

Hurun India releases its report for 2021 of India’s most valuable companies. Reliance emerges out to be the most valuable company with a market capitalisation of INR 16,65,381 crore as well as the most profitable company at INR 53,739 crore. Tata consultancy services have been considered the largest employer and the top taxpayer, while its parent company Tata Group has emerged out to be the group that added the most number of companies. Serum Institute of India, the COVID-19 vaccine producer, increased its value by 127% to INR 1.8 lakh crore and is now India’s most valuable unlisted company.

According to the report, Financial Services with 77 companies and Healthcare with 64 companies were the biggest contributors in 2021. Financial services, constituting 1/4th value was followed by Software and Services, Healthcare, and consumer goods.

“Despite the Covid-19 Pandemic, the cumulative value of the 2021 Burgundy Private Hurun India 500 companies grew by 68% YoY to an average of INR 45,300 crore. 461 companies saw their value increase, of which 200 of them doubled in value. 20 companies rose by INR 1 lakh crore, led by Reliance Industries, TATA Consultancy Services, Infosys, and ICICI Bank. Value creation at historic highs: total value of 2021 Burgundy Private Hurun India 500 companies is INR 228 lakh crore (US$3tn), more than India’s GDP in 2021 at current prices.” Hurun India’s report mentioned.

SEBI issues consultation paper for preventing use of unregulated Algo trading

Aviyukta Adlakha — Thu, 09 Dec 2021 17:01:18 +0000

Sebi, The Securities and Exchange Board of India, issues a discussion paper to prevent the use of unregulated algorithms of the growing trend of retail algorithms on Thursday. Retail algorithm refers to the practice of retail investors using some computer application or program or an algorithm for exchange criteria. Algorithmic trading, also known as Algo trading, is a method of executing orders by using automated pre-programmed trading instructions. It generates the order and manages the positions and orders swiftly.

Retail investors who use Algo trading and the colocation facility often find themselves at an advantage over the other investors. But the unregulated algorithms have a risk. This risk is being covered under the aforesaid discussion papers. Sebi aims to protect the interests of both, investors and institutions and hence is working on regulating all algorithms and reducing the grey area.

“Stockbroker needs to take the approval of all algos from the exchange. Each Algo strategy, whether used by broker or client, has to be approved by exchange,” Sebi mentioned. “Since there is limited understanding with respect to the nature of services provided by various algo providers, brokers may obtain from their clients, details of nature and type of services taken from algo providers along with a confirmation as to whether the said services are in the nature of investment advisory services,” it further added.

Parliament passes Pharmaceutical Education and Research (Amendment) Bill

Aviyukta Adlakha — Thu, 09 Dec 2021 15:26:31 +0000

The National Institute of Pharmaceutical Education and Research (Amendment) Bill, 2021 was cleared by the Rajya Sabha on Thursday with a voice vote.

The parliament on Thursday passed The National Institute of Pharmaceutical Education and Research (Amendment) Bill, 2021, seeking to accord the status of institute of national importance to six more pharmaceutical institutes and to set up an advisory council for them. Earlier, Lok Sabha cleared the bill on December 6.

The bill has 4 amendments including the introduction of UG and diploma courses and of giving 6 NIPERs status of institutions of national importance. This bill is an amendment to the National Institute of Pharmaceutical Education and Research Act, 1998.

The bill also seeks to reduce the board members from 23 to 12 and to declare institutes of pharmaceutical education and research at Ahemdabad, Guwahati, Rae Bareilly, Hajipur, Hyderabad, and Kolkata as of national importance.

“There is a Mohali NIPER which was given national institute qualification. After this, six more NIPERs were set up. There was no clarification on whether they are of national importance. To clarify this and give them national importance category is one of our amendments,” said Mansukh Mandaviya, Union minister for health and family welfare.

(With inputs from Livemint)

SIP contribution at historic levels, crosses 11k cr in Nov: AMFI

Aviyukta Adlakha — Thu, 09 Dec 2021 14:41:55 +0000

The mutual fund industry reported its highest ever SIP contribution at INR 11,004.94 crore in the month of November, AMFI data showed. The average AUMs (asset under management) and the Net AUMs for November 2021 stood at a record high of INR 38,45,377.59 crore and INR 37,33,701.82 crore, respectively.

The net flow has been positive for all five categories. In Income/Debt Oriented Schemes at INR 6.97 crores, Growth/Equity Oriented Schemes at INR 13.207 crores, Hybrid schemes, Solution-oriented schemes or others like Index or ETFs, etc, data from AMFI showed.

Furthermore, all 23 open-ended securities reported positive flow. In fact, FMPs, the close-ended debt scheme also reported a positive flow for the first time. The Folios under retail schemes stood at an all-time high of INR 9,51,68,813.

“Despite rising uncertainty owing to the feared third wave of the pandemic, and extreme equity market volatility, Retail Investors continue to benefit and hence also stick to displaying trust on the disciplined SIP mode of savings in Mutual Funds. On the back of accommodative RBI policy stance, with focus on economic revival and growth and keeping inflation within target, we expect MF Industry to continue to report robust growth, and deliver value to its investors beyond 2021, in the years to come,” said N S Venkatesh, Chief Executive, AMFI.

Top 7 quotes by Late CDS Gen Bipin Rawat: Inspiration for future genrations

Aviyukta Adlakha — Thu, 09 Dec 2021 05:30:42 +0000

After a helicopter carrying CDS General Bipin Rawat crashed near Coonoor in Tamil Nadu, we lost, Bipin Rawat, his wife Madhulika, and 11 others to the horrific event. Although this four-star general of the Indian Army is no more among us but his powerful words and works will always inspire future generations as well. He was appointed as the first CDS of India on 30th December, 2019 and assumed his office from 1st January, 2020. He was an awardee of Param Vishisht Seva Medal, Uttam Yudh Seva Medal, Ati Vishisht Seva Medal, Yudh Seva Medal, Seva Medal, and Vishisht Seva Medal.

Here are the Top 7 quotes by the CDS General Bipan Rawat taken from his speeches and statements:

1. “There is a saying that offense is the best defense. We are committed to peace and tranquility and to keep it there has to be an element of the offense in our defense.”

2. We seek neither applause nor gratitude because we firmly believe in the eternal wisdom of the Urdu couplet: ‘Khamoshi se banate raho pehchan apni, hawaye khud tumhara tarana gayeyegi’.

3. If they (Pakistan) try to damage our assets, the reaction from our armed forces will be very different. The political will is there. Our armed forces are ready.

4. We know that in conflict, there is the only outcome that is a victory. Jung ka ek hi usul hai, vo hai jeet. May I assure you that we shall accomplish the same at all costs.

5. ‘China and Pakistan’s territorial ambitions require India’s armed forces to remain alert and deployed along disputed borders and also along the coastal regions round the year’.

6. We were always tasked with defending our borders. And when you have unsettled borders on your north and your west, you don’t know which side the battle will commence and where it will end. So you should be prepared on both fronts.

7. Indian Army’s ethos is an aggregation of simple axioms put together by officers in our units & establishments, aggregated from the bottom with an earthy field, yet has universal acceptance.

Explained: Will UPI payments via feature phones benefit digital payment firms?

Aviyukta Adlakha — Wed, 08 Dec 2021 17:08:10 +0000

The Reserve Bank of India (RBI) in its monetary policy meet, mentioned its decision to launch a UPI-based payment product for feature phone users on Wednesday. UPI refers to Unified Payments Interface — a system that connects multiple bank accounts into a mobile app. Feature phones on the other hand are basic phones, with voice calling and text messaging sometimes with internet options as well. RBI is trying to expand the product’s reach and make the process simpler for banking institutions in India. Currently, there’s no such technology except BHIM to make payments without the use of an internet connection. As a result, it restricts the usage of UPI as a regular payment mechanism. RBI further aims at an on-device wallet to conserve banks’ resources and to promote digital currency nationwide. This will also promote investments at a wide level.

According to the latest data, digital players PhonePe and Google Pay are the biggest with 43.9% and 35% of payments via UPI, respectively. Further overtaking the Paytm Paymens bank in the peer to peer market. However, speaking of the effect of this initiative on these companies, it might not hamper their market, it instead aims at another segment of society that is comparatively ignorant to use the UPI methods. Furthermore, once the habitat of digital transactions gets instilled among the masses, the platform can be switched depending upon its advertising and features available in it.

However, experts and analysts have emphasised on the fact about the smartphone industry bringing the largest chunk on the table currently and in the future as well. The recent move to enable UPI payments will undoubtedly add to some contribution in the market, however, the move is unlikely to disrupt the industry in a bigger picture. “A big chunk of transactions comes from the smartphone users. The feature phone payment option will precisely target a smaller audience as the smartphone industry in the country is already on a boom and not much can be accounted from the new feature,” said an expert on the matter.

“UPI is the single largest retail payment system in the country in terms of volume of transactions (14 crore transactions per day, October 2021). One of the initial objectives of UPI was to replace cash for low-value transactions. Transaction data analysis shows that 50% of transactions through UPI were below ₹200, indicating its success. These low-value transactions, however, utilize significant system capacity and resources, at times leading to customer inconvenience due to transaction failures because of issues related to connectivity.” RBI said in its statement.

Shaurya Chakra awardee Group Captain Varun Singh survives the CDS chopper crash

Aviyukta Adlakha — Wed, 08 Dec 2021 13:40:30 +0000

Indian Air Force’s Group Captain Varun Singh, the sole survivor who has been injured in the recent CDS chopper crash, was decorated with Shaurya Chakra for saving his LCA Tejas fighter aircraft during an aerial emergency in 2020 on 15 August 2021. India lost Defence Staff General Bipin Rawat, his wife, and 11 other security personnel in this crash at Coornool.

“During the sortie, the cockpit pressurization failed at high altitude. He correctly identified the failure and initiated a descent to a lower altitude for landing. While descending, the Flight Control System failed and led to total loss of control of the aircraft. This was an unprecedented catastrophic failure that had never occurred. There was a rapid loss of altitude while in usual attitude, with the aircraft pitching up and down viciously going to the extremities of G limits. Despite being in extreme physical and mental stress in an extremely life-threatening situation, he maintained exemplary composure and regained control of the aircraft, thereby exhibiting exceptional flying skill,” Varun Singh’s citation regarding the 12 October 2020 read.

Defense General Bipin Rawat, his wife Madhulika Rawat, Brigadier LS Lidder, Lieutenant Colonel Harjinder Singh, NK Gursewak Singh, NK Jitendra Kumar, L/NK Vivek Kumar, L/NK B Sai Teja, and Hav Satpalb, and others have been reportedly declared dead.

RIP Bipin Rawat: CDS Gen Bipin Rawat, his wife and 11 Armed Forces personnel die in a crash [Confirmed]

Aviyukta Adlakha — Wed, 08 Dec 2021 13:25:16 +0000

CDS chopper crashed in Tamil Naidu’s Coonoor on Wednesday afternoon. Army chief Bipin Rawat has been declared dead after being hospitalized due to burns and severe injuries. His wife, Mrs. Madhulika Rawat, and 11 others on the flight were declared dead.

With deep regret, it has now been ascertained that Gen Bipin Rawat, Mrs Madhulika Rawat and 11 other persons on board have died in the unfortunate accident.

— Indian Air Force (@IAF_MCC) December 8, 2021

“An IAF Mi-17V5 helicopter, with CDS Gen Bipin Rawat on board, met with an accident today near Coonoor, Tamil Nadu. An Inquiry has been ordered to ascertain the cause of the accident,” Indian Air Force mentioned in a statement.

Deeply anguished by the sudden demise of Chief of Defence Staff Gen Bipin Rawat, his wife and 11 other Armed Forces personnel in an extremely unfortunate helicopter accident today in Tamil Nadu.

His untimely death is an irreparable loss to our Armed Forces and the country.

— Rajnath Singh (@rajnathsingh) December 8, 2021

Rajnath Singh, the Defence Minister of India, visited the residence of CDS General Rawat today in Delhi. He is likely to address the parliament tomorrow by 11 am. An inquiry has been ordered to bring out the major cause of the crash.

Akhilesh Yadav & RLD’s Jayant Chaudhary form alliance for UP elections

Aviyukta Adlakha — Tue, 07 Dec 2021 17:19:26 +0000

Akhilesh Yadav, chief of Samajwadi Party, and Jayant Chaudhary of Rashtriya Lok Dal announced their alliance for Uttar Pradesh elections 2022 at a joint rally titled ‘Parivartan Sandesh’ in Meerut district on Tuesday, December 7 in the Dabathua area.

Akhilesh Yadav alleged BJP of the unfulfilled promises and politics of polarization. This comes after Prime Minister Narendra Modi addressed a rally after the inauguration of development projects in the Gorakhpur region of eastern UP.

“’Red Alert’ for BJP is of inflation; of unemployment-unemployment; of the plight of the farmer-laborer; Hathras, Lakhimpur, women and youth oppression; Wasted education, business, and health, and ‘Lal Topi’ because it will throw BJP out of power this time,” Yadav mentioned in his tweet.

भाजपा के लिए ‘रेड एलर्ट’ है महंगाई का; बेरोज़गारी-बेकारी का; किसान-मज़दूर की बदहाली का; हाथरस, लखीमपुर, महिला व युवा उत्पीड़न का; बर्बाद शिक्षा, व्यापार व स्वास्थ्य का और ‘लाल टोपी’ का क्योंकि वो ही इस बार भाजपा को सत्ता से बाहर करेगी।

लाल का इंक़लाब होगा
बाइस में बदलाव होगा! pic.twitter.com/NPDAGzzjIi

— Akhilesh Yadav (@yadavakhilesh) December 7, 2021

Yadav’s tweet referred to a comment by Modi where he said that ‘those wearing lal topi (red caps) cared only about lal batti (red beacons) when they were in power, in an apparent jibe at the Samajwadi Party (SP), the erstwhile ruling party of the state.’ Red-caps are common among the leaders of the Samajwadi Party and act as identification to their socialist ideology.

India’s proposed Crypto Bill likely to jail violators: Report

Aviyukta Adlakha — Tue, 07 Dec 2021 16:28:30 +0000

As per the reports published by Bloomberg, the authorities are looking into the classification of cryptocurrencies as a financial asset, it is being considered appointing capital markets regulators to oversee them.

The government plans to introduce legislation in the ongoing parliament session, which might give crypto holders a deadline to declare their assets and meet any new rules as per the sources of Bloomberg. The previous bill that banned all private cryptocurrencies was revoked by the Finance Minister.

The bill is expected to use the term ‘crypto assets’ rather than ‘cryptocurrencies.’ The crypto market has grown by 641% from June onwards according to the data with Bloomberg. Any violators of the expected bill could be fined as much as 200 million rupees ($2.7 million) or imprisoned for 1.5 years. The government may also prescribe a minimum limit for investing in crypto assets to safeguard small investors.

A meeting was held earlier this week where there was a discussion regarding unregulated crypto markets that can’t be allowed to become avenues for money laundering and terror financing. But the official statements are awaited and the bill is expected to be presented soon.

Europe overtakes China in creating billion-dollar tech start-ups

Aviyukta Adlakha — Tue, 07 Dec 2021 15:30:05 +0000

China has been overtaken by Europe in creating billion-dollar tech startups, according to a new analysis. Europe’s rising status in the field and the effect of Beijing’s crackdown on capitalist entrepreneurialism have been pointed out in a report. But both economies still lag behind the U.S. in creating business unicorns.

China has reined in its most successful tech giants over the past few years, including Alibaba Group Holding Ltd. and Tencent Holdings Ltd. Europe has got its investments in the tech industry mainly from the US.

The volume and nature of some of the investments in China, from critical infrastructure in eastern and southern Europe to high-tech companies in the west, once raised a red flag at the European Union level. But now Europe seems to have supremacy in that sense upon startups over China.

No plans to abolish LTCG tax on equities and mutual funds: FM Nirmala Sitharaman

Aviyukta Adlakha — Tue, 07 Dec 2021 14:31:01 +0000

Finance Minister, Nirmala Sitharaman told Parliament on Tuesday, December 7 that the Centre has no plans to abolish the long-term capital gains (LTCG) tax on equities and mutual funds. Neither is the centre planning to increase the period of LTCG from one to two years for mutual funds nor equities.

“There is no such proposal under consideration,” said the Union Minister of Finance on being asked about the increase in LTCG on mutual funds and equities. Speaking on the decision to abolish the LTCG tax to help accelerate economic recovery from the coronavirus pandemic outbreak, no decision has been taken.

The long-term capital gains on the sale of equity were made taxable from April 2018 onwards. Before that, LTCG on equity investing used to be tax-free in India. The Centre earned Rs 1,222 crore from LTCG in 2018-19 and Rs 3,460 crore in 2019-20 and Rs 5,311 crore in 2020-21, as per reports.

China’s Evergrande group misses payment deadline, default fears arise

Aviyukta Adlakha — Tue, 07 Dec 2021 14:00:20 +0000

After the various previous deadlines, China Evergrande Group is again on the edge of a default, with downbeat comments from the property developers. Evergrande will face the end of a 30-day grace period on Monday again, with dues this time at $82.5 million, having made three 11th-hour coupon payments in the past two months. This has added to a situation of liquidity crisis in China’s once-booming property market.

“Failure by Evergrande to make $82.5 million in interest payments due last month would trigger cross-default on its roughly $19 billion of international bonds and put the developer at risk of becoming China’s biggest defaulter – a possibility looming over the world’s second-largest economy for months”, according to Reuters.

Once China’s top property developer, Evergrande had more than 1,300 real estate projects. But now it has turned up as a focal point of property crisis in China with over $300 billion of liabilities. According to the govt, this problem of Evergrande can be resolved only if the firm plans to restructure its overseas debt with the help of global investors.

Reliance Industries partners with Abu Dhabi Chemicals Derivatives Company RSC Ltd

Aviyukta Adlakha — Tue, 07 Dec 2021 13:27:05 +0000

According to TA’ZIZ, Reliance Industries of India have agreed to start a chemical production partnership in Ruwais for more than $2 billion.

The joint venture, named TA’ZIZ EDC & PVC, will construct and operate a Chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production facility with the aim of exporting the material to South-Asian, African, and the domestic market. TA’ZIZ, formed in 2020 itself is a joint venture of ADNOC and ADQ.

As per Mukesh Ambani, the chairperson of Reliance, “India’s need for PVC to propel its growth, and the value from the abundantly available feedstock in UAE, provides a win-win partnership for both companies.” Also, this project is the first project by reliance industries in this region. The investment of approx $15 billion was announced in 2019 but was delayed as oil prices crashed during the pandemic. Reliance will be collaborating with Saudi Aramco and SABIC for investments in Saudi Arabia.

“Representing the first production of these chemicals in the UAE, the project will enable the substitution of imports and the creation of new local value chains, while also meeting the growing demand for these chemicals globally,” TA’ZIZ said.

InterGlobe Aviation calls shareholders for EGM on December 30

Aviyukta Adlakha — Mon, 06 Dec 2021 16:16:44 +0000

IndiGo’s parent company, InterGlobe Aviation, has called its shareholders for an extraordinary general meeting (EGM) to look at the proposal to amend Articles of Association of the company and remove restrictions on the transfer of promoter shares, on December 30

The IGE Group had called the meeting. It comprises of InterGlobe Enterprises Private Limited and Rahul Bhatia as its promoter, the RG Group and its promoter Rakesh Gangwal and the Chinkerpoo Family Trust and its promoter Shobha Gangwal. This group holds 74.44 % of the paid-up equity share capital of the company, InterGlobe Aviation said in a regulatory filing on December 5.

“Pursuant to Regulation 30 and other applicable regulations of the SEBI LODR Regulations, please find enclosed a copy of the notice for convening an Extraordinary General Meeting (EGM) of the company, scheduled to be held on Thursday, December 30, 2021, at 11:00 am (IST), through video conferencing / other audio-visual means, in accordance with the relevant circulars issued by the Ministry of Corporate Affairs,” the company mentioned.

Sterlite and ESDS gets Sebi nod to issue IPO

Aviyukta Adlakha — Mon, 06 Dec 2021 14:57:55 +0000

Sterlite Power Transmission and ESDS Software Solution received Sebi’s nod to raise funds through initial share sales. Both the companies filed their preliminary IPO documents with Sebi, the regulator of the capital market.

Sterlite Power Transmission and ESDS Software Solution got observation letters from Sebi on December 2 and December 3, as per the data uploaded on the Sebi website. According to the reports, Sterlite Power Transmission is looking forward to raising Rs 1,250 crore through an initial share sale.

Proceeds of the IPO are to be used for payment of certain borrowings by the company and its arm Khargone Transmission Limited (KTL). The IPO of ESDS Software Solution consists of a fresh issue of shares worth Rs 322 crore and an Offer for Sale (OFS) of up to 2.15 crore equity shares by investor shareholders and a member of the promoter group.

“The OFS comprises sale of up to 1.68 crore equity shares by South Asia Growth Fund II LP, up to 42.31 lakh equity shares by GEF ESDS Partners LLC, up to 4 lakh equity shares by Sarla Prakashchandra Somani, and up to 34,000 equity shares by South Asia EBT Trust.” according to business-standard.

Russian President Vladimir Putin meets PM Modi, says”We perceive India as a great power”

Aviyukta Adlakha — Mon, 06 Dec 2021 13:59:48 +0000

After the meeting of Russian President Vladimir Putin and PM Narendra Modi at Hyderabad House on Monday, December 6, Putin expressed his pleasure on the relations between India and Russia and said, “We perceive India as a great power, a friendly nation, and a time-tested friend. The relations between our nations are growing and I am looking into the future.”

He highlighted the fact that despite of changes happening in the world and the emerging geopolitical equations, India and Russia’s friendship has remained constant. With a similar belief, PM Narendra Modi said, “Despite the challenges posed by COVID-19, there is no change in the pace of growth of India-Russia relations. Our special and privileged strategic partnership continues to become stronger.” he also mentioned that India’s friendship with Russia is truly a unique and reliable model of interstate friendship.

Focus is likely to be paid to terrorism during the 21st annual India-Russia summit due to the security situation in Afghanistan ruled by the Taliban, as it’s a common threat to both countries. According to the sources, both countries have been working closely on the threats of issue of terrorism, their financing, and the flow of arms and drugs trade.

Four major Airlines owe AAI ₹2,700 crore in dues

Aviyukta Adlakha — Mon, 06 Dec 2021 13:16:44 +0000

VK Singh, minister of state, the Ministry of Civil Aviation mentioned that four Indian airlines owes dues of about ₹2,702.48 crores to the state-owned Airports Authority of India (AAI) by the end of September 30, 2021, on Monday.

Speaking to Rajya Sabha he added that some airlines have defaulted on clearance of their dues to the Airport Authority. Air India owes about ₹2,350.62 crores, Alliance Air owes ₹109.81 crores, SpiceJet Ltd ₹185.52 crores, and GoAir ₹56.53 crores to the Airport authorities.

“Airports Authority of India follows up with the airlines regularly for recovery of dues as per their Credit Policy. Charging penal interest, encashment of security deposits along with resorting to legal action are other measures available with AAI to carry out the recovery of dues. “he said.

The charges to be paid to AAI by the airlines includes the landing charges, operating charges, parking charges, etc. It owns 125-odd airports across India.

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Anand Kumar set to expand the ‘Super 30’ programme

Aviyukta Adlakha — Mon, 06 Dec 2021 12:51:48 +0000

The ‘Super 30’ programme under which mathematician Anand Kumar trains 30 talented and underprivileged students of Bihar to crack and get admitted into Indian Institute of Technology (IIT) colleges, is now expected to be expanded beyond the state of Bihar. 85% of his students have been clearing JEE every year.

This initiative was started in 2002 wherein a group of 30 students having poor financial conditions were selected and were provided with free coaching for JEE, food, and lodging. But it was highlighted in the movie in 2019 titled Super 30, starring actor Hrithik Roshan and actress Mrunal Thakur. Despite getting admission to the University of Cambridge, he couldn’t go due to financial constraints and personal issues and is now one the most sought teacher by all IIT aspirants.

“In view of growing demand, Super 30 has decided to increase its reach and access. This year, admissions will not be confined to students of Bihar only. Apart from Bihar, it will be open to students from other states. The procedure of admission will, however, remain the same through the test,” stated a note on the official website of Super 30.

After 7 from Maharashtra, 9 cases of Omicron detected in Rajasthan

Aviyukta Adlakha — Sun, 05 Dec 2021 15:39:42 +0000

Nine people have tested positive for the omicron variant in Jaipur, as confirmed by State’s Health Secretary Vaibhav Galriya. This comes after 7 people had tested positive in Maharashtra today itself leaving the tally at 21 total cases of this variant.

A couple and their children were detected as being positive for the Omicron variant followed by their return from South Africa. India has increased its preparedness against the variant with international travellers being tested at all airports, especially from the ‘at risk’ countries. Rajasthan’s news comes after the case detection at Karnataka, Maharashtra, and Delhi.

The South African doctor who warned against Omicron mentioned that dozens of her patients suspected of having the new coronavirus variant had only shown mild symptoms and recovered fully without hospitalization. But the Asymptomatic or mild COVID-19 is a greater threat since it spreads much before people get themselves tested.

7 more cases of Omicron detected in Maharashtra

Aviyukta Adlakha — Sun, 05 Dec 2021 14:15:19 +0000

Total cases of Omicron variant reach twelve (12) after seven (7) more people tested positive in Maharashtra as per the State Health Department. A total of 8 cases of the variant have now been reported in Maharashtra including one detected on December 4 when a man from the Kalyan-Dombivali region tested positive after travelling from South Africa to Mumbai, via Dubai and Delhi.

“Four persons who returned from foreign tours and three of their close contacts test positive for Omicron variant”, a Maharashtra health official said to PTI.

Early in the afternoon Delhi also reported its first case of the variant in a Tanzania returnee at the Lok Nayak Hospital. Making it India’s fifth case. Omicron is a major cause of concern as this variant of COVID-19 spreads much quickly.

According to the new norms, RT-PCR tests are mandatory for passengers arriving from the “at-risk” countries that include South Africa, Brazil, Botswana, China, Mauritius, New Zealand, Zimbabwe, Singapore, Hong Kong, Israel, and European nations. These passengers are allowed to leave the airport only after the results come.

IT Minister encourages banks to create digital platform for credit availability

Aviyukta Adlakha — Sun, 05 Dec 2021 13:09:10 +0000

IT Minister Ashwini Vaishnaw encouraged the banking industry to create an innovative digital platform like UPI for providing quick and easy credit to MSMEs, small businessmen, and others at the bottom of the aggregate in the coming three months.

He emphasized that the basic features required to create such a platform as the ecosystem of Aadhaar, mobile phones, UPI platform, and Digi locker are already available.

Vaishnaw spoke at the ‘Digital payment Utsav’ which was part of a week-long showcase of India’s achievements in digital space titled ‘Azadi ka Digital Mahotsav’ held in Delhi.

“You have today a good ecosystem of Aadhaar, mobile phones, UPI platform, Digi locker, practically everything you need to create this ecosystem is today available.

He added at the event that the idea is to ensure that easy credit at good terms, through a flawless process can be made available to people at bottom of the pyramid especially for micro and small industries, small businesses, street vendors amongst others.

#AzadiKaDigitalMahotsav #AmritMahotsav

Watch #LIVE

'Digital Payments Utsav' – A day to celebrate & showcase India’s might in digital space.

Go to -> https://t.co/060ivVDF0d

— Digital India (@_DigitalIndia) December 5, 2021

Top 10 inspirational quotes by Barack Obama

Aviyukta Adlakha — Sun, 05 Dec 2021 12:05:40 +0000

Barack Obama, the first African-American president of the USA, is not just a politician but also an American lawyer and author. He took charge of the office on January 20th 2009 and served as the 44th president of the United States. He won two presidential elections consequently and resigned from from the office in 2017. He promoted LGBT rights leading to the complete removal of the ban of same-sex marriages in America.

Here are some inspirational quotes by Barack Obama:

1. The future rewards those who press on. I neither have time to complain nor to feel sorry for myself. I’m going to press on.

2. If your life’s sole focus is to make a buck, that shows a certain poverty of ambition. It asks too little of yourself. Because it’s only when you hitch your wagon to something larger than yourself that you realize your true potential.

3. If the people loses the trust in their government for the job which it exists – to promote their common welfare and to protect them – all else is lost.

4. If you’re willing to keep walking down the right path, eventually you’ll make progress.

5. We need to internalize the idea of excellence. Not many folks spend a lot of time trying to be excellent.

6. My fellow Americans, we are and always will be a nation of immigrants. We were strangers once, too.

7. I think when you spread the wealth around it’s good for not just you but everybody.

8. We proved that we are still a people capable of doing big things and tackling our biggest challenges.

9. Issues are never simple. One thing I’m proud of is that you will very rarely hear me simplify the issues.

10. Making your mark on the world is hard. If it were easy, everybody would do it. But it’s not. It takes patience, it takes commitment and it comes with plenty of failures along the way.

50% of eligible Indian population is fully vaccinated against COVID-19: Health Ministry

Aviyukta Adlakha — Sun, 05 Dec 2021 05:48:41 +0000

50% of the country’s population, that is eligible for vaccination is now fully vaccinated. This is the moment of pride for all Indians considering the population.

Half of Indian’s adult population is estimated to be over 470 million which is more than the total population of Pakistan and Bangladesh combined together. It had been achieved in 11 months since the drive began despite of the resistance among some people.

But amid the rising fear of the Omicron variant, vaccination needs to be done at a higher pace. India is yet to decide on booster shots. Furthermore, steps that can add up to the vaccination drives could be making only vaccinated citizens eligible for certain benefits.

The gender disparity among vaccinated citizens needs to be addressed. Statewise focus must also be laid on vaccination status. More awareness programs need to be done specifically in the rural areas where people are ignorant to take the jab.

हम होंगे कामयाब ✌🏼

Congratulations India 🇮🇳

It is a moment of great pride as over 50% of the eligible population are now fully vaccinated 💉

We will win the battle against COVID-19 together ✌🏼#HarGharDastak #SabkoMuftVaccine pic.twitter.com/q4evljMChk

— Dr Mansukh Mandaviya (@mansukhmandviya) December 5, 2021

Joe Biden & Vladimir Putin set to have a video call on Dec 7

Aviyukta Adlakha — Sun, 05 Dec 2021 05:10:19 +0000

President Joe Biden and Vladimir Putin set to have a video call on Tuesday as tensions between the USA and Russia rises over a Russian troop buildup on the Ukrainian border that’s seen as a sign of a potential invasion.

White House press secretary Jen Psaki said, “Biden will press U.S. concerns about Russian military activities on the border and reaffirm the United States’ support for the sovereignty and territorial integrity of Ukraine.” The time frame for the same has not been confirmed yet. The presidents will themselves decide how long their talk will last, according to Dmitry Peskov, the Kremlin spokesman.

According to U.S. intelligence officials, Russia has placed about 70,000 troops near its border with Ukraine and has been possibly planning for an invasion. The risks for Putin of going through with such an invasion would be to a high extent. Meanwhile, former American diplomats say that Ukraine’s military is well-armed than before and hence Russian economy could go through serious damage.

“What I am doing is putting together what I believe to be, will be, the most comprehensive and meaningful set of initiatives to make it very, very difficult for Mr. Putin to go ahead and do what people are worried he may do,” Biden said this Friday.

In July, when Biden and Putin had their last call, Biden expressed concern over Russia-based criminal hacking gangs that launched ransomware attacks against the United States.

India’s GDP likely to grow more than 9.5% in FY2021-22: Report

Aviyukta Adlakha — Sat, 04 Dec 2021 16:58:13 +0000

According to SBI research report-Ecowrap, India’s GDP is likely to grow more than 9.5% in the fiscal year 2021-22. The economy has grown at 8.4 percent in the second quarter of the current fiscal, as per the National Statistical Office. In October’s monetary policy review, the RBI had retained its projection for real GDP growth at 9.5% in 2021-22, consisting of 7.9% in Q2; 6.8% in Q3; and 6.1% in Q4 of 2021-22.

According to the research report, it is believed that the real GDP growth might now go higher than the RBI’s estimate of 9.5%, assuming the RBI growth numbers for Q3 and Q4 to be stable. The GDP grew by 8.4% in Q2 FY22 with the growth in mining and quarrying, public administration, defence, and other services.

In H1 FY21, the country had a real GDP loss of Rs 11.4 lakh crore due to complete lockdown in April-May and partial lockdown in June-September due to COVID-19. But the situation has improved in FY22, and in H1 FY22 the real gain was around Rs 8.2 lakh crore.

Trade, hotels, communication, transport, and broadcasting services are still immensely affected. The economy is still operating at 95.6% of the pre-pandemic level but this might take a year more to recover. With around Rs 8.6 lakh crore investment announcements made so far in the last seven months of FY22, it seems quite encouraging from the future perspective.

India reports 4th case of Omicron, first in Maharashtra

Aviyukta Adlakha — Sat, 04 Dec 2021 15:43:09 +0000

The fourth case of the Omicron variant has been confirmed in India. A 33-year-old man from Maharashtra, who travelled to Mumbai from South Africa via Dubai, Delhi, and has been found positive, making it the first case of this variant in Maharashtra.

On November 24, this unvaccinated passenger arrived in Mumbai after giving samples at the Delhi airport. 12 of his high-risk contacts & 23 of the low-risk contacts have been traced and tested negative for COVID-19. “Additionally, 25 of the co-passengers from the Delhi-Mumbai flight have also been tested negative. More contacts are currently being traced”, said the Maharashtra Health Department

3 Cases with the Omicron variant have already been detected in Karnataka and Gujarat. While the first two cases of the variant were confirmed in Karnataka and the other one on Gujrat.

The first case of the variant was of a 66-year-old South African man who came to Bengaluru on November 20 and left India after testing negative. The other patient is a 46-year-old man who is a doctor – an anaesthetist – at a hospital in Bengaluru. He tested positive without any travel history to South Africa or any other country as per civil officials body. In Gujarat, a 72-year-old man was found infected with the Omicron variant in Jamnagar after his return from Zimbabwe.

Speculations on Cryptocurrencies regulation not healthy: FM Nirmala Sitharaman

Aviyukta Adlakha — Sat, 04 Dec 2021 15:32:11 +0000

Finance Minister Nirmala Sitharaman mentioned that the speculations on the Cryptocurrencies regulations are unhealthy. She said that a well-consulted bill will be coming after the Cabinet nod, at the HT Leadership Summit.

The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is present in the Lok Sabha Bulletin-Part II for the introduction in the ongoing Winter Session.

But for something as dynamic as crypto, such speculations are considerably not healthy. The objective of the bill is the creation of official digital currency to be issued by RBI as per the Bulletin. At the same time, seeking to prohibit all private cryptos in India.

Speaking about the misleading advertisements regarding the crypto she says, “The guidelines of Advertising Standards Council of India are being studied and their regulations are also being looked into so that we can take, if necessary, some kind of a position or a decision to see how we are going to handle it”.

She mentioned that the government, RBI, and Sebi have been warning people about cryptocurrencies and the degree of risk involved in it. She confidently spoke in the economical aspect that India would emerge as the fastest-growing large economy in the world.

Indonesia’s Mount Semeru erupts, leaves locals in panic

Aviyukta Adlakha — Sat, 04 Dec 2021 14:37:01 +0000

Mount Semeru’s sudden eruption in the Lumajang district in East Java province has left several villages in a state of terror and panic with layers of ashes leaving the people with no other option but to move to safer areas for shelters.

The sudden eruption at the highest volcano on Indonesia’s most densely populated island of Java accompanied by a thunderstorm and rain pushed lava and smouldering debris and formed thick mud that destroyed a bridge connecting two main villages of Pronojiwo and Candipuro. This acted as a barrier in further evacuation in Lumajang district, Thoriqul Haq told TV One. Indonesia geographically is prone to earthquakes and volcanoes.

Television reports showed people running in panic under a huge ash cloud, their faces wet from rain mixed with volcanic dust. The 3,676-metre (12,060 feet) Semeru had last erupted in January, gratefully no casualties have been reported yet.

Catatan yang dihimpun Pusat Vulkanologi dan Mitigasi Bencana Geologi (PVMBG), guguran lava pijar teramati dengan jarak luncur kurang lebih 500-800 meter dengan pusat guguran berada kurang lebih 500 meter di bawah kawah. pic.twitter.com/i3IorFweRf

— BNPB Indonesia (@BNPB_Indonesia) December 4, 2021

OnePlus RT price leaked ahead of launch in India

Aviyukta Adlakha — Sat, 04 Dec 2021 14:07:59 +0000

The OnePlus RT is expected to be launched with 8GB RAM + 128GB storage type, as well as 6GB RAM + 128GB separate storage. The smartphone was introduced to the Chinese market at CNY 3,299 (approximately Rs. 38,800) on the basis of 8GB RAM + 128GB separate storage.

According to reports by The Mobile Indian, the OnePlus RT could be priced at Rs 39,999 in India with the latest 8GB RAM + 128GB model. The report also quoted another source saying that OnePlus could offer this variant for Rs 37,999. But since no price is guaranteed by the company, it is only a limited idea of what the price can be.

The smartphone is expected to be a redesigned version of the OnePlus 9RT launched in China in October. It is expected to include a Qualcomm Snapdragon 888 chipset with a 6.62-inch AMOLED display, as well as other specifications.

The phone can have a 16MP sensor for your photos and video calls. Communication options can include 5G, 4G LTE, Wi-Fi 6, Bluetooth v5.2, GPS / A-GPS, NFC, and USB Type-C port. The phone can pack a 4,500mAh battery and support the fast charging of Warp Charge 65T as per reports. The phone is expected to have a triple rear camera setting with a 50MP sensor for the Sony IMX766 main sensor, a 16MP second sensor, and a 2MP macro shooter.