कश्मीरी ड्राइवर गिड़गिड़ाता रहा, पुलिस बीच सड़क पर पाकिस्तानी और उग्रवादी कहकर पीटती रही

मकबूल ने आरोप लगाया था कि वह पर्ची कटवाकर वापस ट्रक पर पहुंचा तो तीन-चार पुलिसकर्मी आ गए और उसे ट्रक से नीचे उतार लिया। उसने उन्हें टोल की पर्ची भी दिखाई कि वह टोल कटवाकर आ रहा है, मगर उन्होंने कुछ नहीं सुना और पीटना शुरू कर दिया।

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लंदन हमलावर का पाकिस्तानी कनेक्शन, पीओके से कश्मीर पर करना चाहता था हमला

खान ने बिना किसी प्रमाण के ब्रिटेन में स्कूल छोड़ दिया। माना जाता है कि उसने पाकिस्तान में अपनी किशोरावस्था का एक हिस्सा बिताया है।

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#KabTakNirbhaya कोयंबटूर में 11वीं की छात्रा के साथ सामूहिक दुष्कर्म

देश में दुष्कर्म की घटनाएं थमने का नाम नहीं ले रही है। तेलंगाना में महिला डॉक्टर के साथ हुए दुष्कर्म के एक दिन बाद ही कोयंबटूर में 11वीं कक्षा की एक छात्रा के साथ दुष्कर्म का मामला सामने आया।

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Government, BJP Condemn Pragya Thakur's Comment On Godse, Says Amit Shah

Home Minister Amit Shah on Saturday said the government and Bharatiya Janata Party strongly condemns remarks of BJP Lok Sabha member Pragya Singh Thakur on Nathuram Godse.

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Huawei Nova 6 5G Official Listing Reveals Storage Variants, Colour Options

Huawei Nova 6 5G is all set to launch on December 5 in China, now ahead of the launch the phone has been listed on a company's online retailer platform VMall.com.

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झारखंड विधानसभा चुनाव: गृहमंत्री अमित शाह की आज दो जनसभाएं

झारखंड में विधानसभा चुनावों के दूसरे चरण के प्रचार के लिए गृह मंत्री अमित शाह रविवार को सिसई और सिमडेगा पहुंचेंगे। वे सिसई विधानसभा सीट पर भाजपा प्रत्याशी दिनेश उरांव और सिमडेगा में श्रद्धानंद बेसरा के लिए चुनाव प्रचार करेंगे।

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Plane Crash Kills Nine, Injures Three In South Dakota In US: Reports

A plane crash has killed nine people and injured three others in South Dakota in US, according to US media reports.

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Amid Opposition Protest, Maharashtra Assembly To Elect Speaker Today

The Maharashtra assembly will vote at 11 am today to elect its speaker a day after Uddhav Thackeray's Shiv Sena-NCP-Congress government sailed through the floor test amid protests led by the BJP's...

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Vivo U20 vs Redmi Note 8 Compared: Price, Performance, Cameras, and More

Vivo U20 or Redmi Note 8? We help you buy the best smartphone for around Rs. 10,000 in India right now, by putting them in a head-to-head

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#KabTakNirbhaya: तीन पुलिसकर्मी निलंबित, पुलिस पर लोगों ने फेंकी चप्पल

महिला चिकित्सक के परिवारवालों ने पुलिस पर लापरवाही करने का आरोप लगाया था। उन्होंने कहा था कि साइबराबाद पुलिस उन्हें इधर-उधर दौड़ाती रही।

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इंदौरः हनीट्रैप मामले में पुलिस ने कई स्थानों पर की छापेमारी, एक निजी दफ्तर सील

मध्य प्रदेश के इंदौर में पुलिस ने रात में  छापेमारी कर समाचारपत्र संझा लोकस्वामी के दफ्तर को  सील कर दिया है। इससे पहले  पुलिस ने इस समाचार पत्र के मालिक जितेंद्र सोनी के घर पर भी छापेमारी की।

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One Of The Men Who Stopped London Bridge Terrorist Is Convicted Murderer

The quick-thinking bystanders who ran toward danger to help others during a terrorist attack on London Bridge on Friday swiftly earned the title of "heroes." But for the family of 21-year-old Amanda...

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In a first, Biplab Dev Holds Janata Darbar To hear People's Grievances

For the first time in the history of the state, Tripura Chief Minister Biplab Kumar Deb on Saturday held a ''Janata Darbar'' programme to hear the grievances and demands of citizens in remote Chawmanu...

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India, China Should Break ''Strange Circle'' Of Ups And Downs: Beijing

Chinese Vice Foreign Minister Luo Zhaohui has said India and China should break the "strange circle" of ups and downs in bilateral ties instead of attempting to control their differences.

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DxOMark Reveals Best Smartphone Cameras of 2019: Here Are the Winners

DxOMark has revealed its pick for the best smartphone cameras for 2019 for different scenarios.

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Man Carrying Live Bullet Detained At Delhi Airport

A Bangkok-bound passenger has been apprehended by the CISF at the Delhi airport for allegedly carrying a live bullet in his baggage, an official said on Saturday.

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Delhi Man Breaks Into Woman's Home, Rapes And Kills Her: Police

Delhi Police on Friday arrested a 22-year-old man for allegedly raping and murdering a woman at her home in north Delhi's Gulabi Bagh area.

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Hyderabad Man Sends Obscene Pics To Friend's Teen Daughter, Caught: Cops

A 40-year-old man was arrested for sending obscene pictures to a friend's minor daughter in Hyderabad, police said on Saturday.

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Centre May Exempt Parts Of Northeast From Citizenship Bill, Say Sources

The centre may exempt parts of Northeast India from the ambit of the controversial Citizenship Amendment Bill likely to be tabled in the winter session of Parliament, official sources said on...

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Cold Wave In Ladakh, Jammu and Kashmir Intensifies After Snowfall

Cold wave intensified in Ladakh while parts of Jammu and Kashmir, including the famous hill resorts of Gulmarg and Pahalgam reeled under sub-zero temperatures after the recent snowfall, the weather...

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In 1995 Article, UK PM Calls Single Mothers, Working Class "Feckless"

British Prime Minister Boris Johnson on Friday dismissed criticism of an old article he wrote condemning single mothers and "feckless" working-class men, saying the quotes were taken out of context.

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इराक: भारी विरोध प्रदर्शन के बाद प्रधानमंत्री अब्दुल महदी ने दिया इस्तीफा

भारी विरोध प्रदर्शन के बाद इराक के प्रधानमंत्री अब्दुल महदी ने अपने पद से इस्तीफा दे दिया है। उनके दफ्तर से जारी बयान के अनुसार गुरुवार को सरकार विरोधी प्रदर्शन में 40 से अधिक लोगों के मारे जाने के बाद प्रधानमंत्री ने ये फैसला लिया है।

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विशेष बातचीत में बोले दिल्ली कांग्रेस अध्यक्ष सुभाष चोपड़ा, आम आदमी पार्टी भाजपा की ही एक शाखा

प्रदेश कांग्रेस अध्यक्ष सुभाष चोपड़ा का मानना है कि आम आदमी पार्टी और भाजपा में कोई ज्यादा फर्क नहीं है।

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Techies take ‘fast’ lane on net highway

BENGALURU: On most weekends, Sampad Swain used to be glued to his smartphone — streaming Netflix and Amazon Prime. The time he spent on the phone was as much as 10 hours a day. But that was then.Since October, the cofounder of payments and ecommerce startup Instamojo has cut down drastically on screen time, using his phone for not more than two hours a day during weekends. Tech workers most addicted to the internet are finding ways to wean themselves off the habit, beating cold turkey with a deliberate and phased fasting. Swain calls it detox.“Streaming was a big part of my life,” he told ET. “After I cut down watching video streaming apps including Netflix, I started using my free time to read books. The main reason for detox is to learn new things.”Mental health professionals are urging people to put their phones aside during particular times of the day or on the weekends. Ranged against that advice are all mobile applications in the world doing their best to attract user attention through umpteen notifications, all developed by software and tech pros themselves. Suddenly there’s time for irony, reading books and discovering the great outdoors… even parents, at least in one case.Rapunzel Pereira, who works for an IT firm in Bengaluru, is making conscious efforts not to use the mobile internet, especially on the weekends.“I used to spend several hours on social media but this is not my thing anymore,” the 27-yearold said, impressed at her own discipline. A frequent traveller, Pereira now switches data off whenever she goes trekking, touring and on the weekends.Content marketing professional Bhavana Narayan has launched ScreenFreeSunday, a campaign among her friends that persuades them to stay off their phones on the holiday.“By staying away from the phone more often than I used to, I am able to catch up on so many other activities such as gymming, music and reading that I had skipped,” she said.“From being glued to the phone always, I have now transformed myself into a person who is more attentive to my parents and also active in whatever I do,” she said.Internet fasting is used to wean people off tech addiction. Japan introduced the concept a few years ago after officials found that over a half a million children were suffering significant consequences of being tied to their screens.Clinical psychologist Manoj Kumar Sharma said internet fasting is a conscious decision to turn off and tune out.“Whenever people extremely addicted to gaming or streaming come to us, we advise them to take a short break after each game or show,” he said. “That often works as tech addicts are likely to lose interest to continue after a break.”Sharma, who heads the Service for Healthy Use of Technology (SHUT) clinic at the National Institute of Mental Health and Neurosciences (Nimhans) in Bengaluru, treats as many as 10 cases of tech addiction a week. Apart from mental effects, such behaviour leads to eye problems, carpal tunnel syndrome and fatigue.A Nimhans study in 2018 found that 27.1% of engineering students met the criterion for mild addictive internet use and 9.7% for moderate addictive internet use. It was severe for about 0.4%. Internet addiction was higher among engineering students who were male, staying in rented accommodation, accessed the internet several times a day, spent more than three hours per day on the internet and had psychological distress, according to the study of 1,086 people.The World Health Organization said last year that the dramatic increase in use of the internet, computers, smartphones and other electronic devices had brought clear benefits. But it has also led to excessive use, which has negative health consequences. In an increasing number of countries, the problem has reached the magnitude of a significant public health concern, it said.Behavioural research scholar Ranjan Jagannathan said people underestimate the number of times they are interrupted by the smartphone and its effect on overall productivity.“Our study revealed that on an average, each person gets about 80 to 100 phone notifications a day,” Jagannathan said, citing his own India-specific research of 2017. He cited another US study which reported that a person takes 23 minutes to regain focus on their original task after every interruption.His response was to create an app to fix this. It’s called Daywise and was developed by Jagannathan’s startup Synapse. The app makes sure that notifications are only sent at intervals.“The Android-only app sends notifications in batches and also has a feature that alerts users in case the notification is important and warrants immediate attention,” said Jagannathan, who has previously worked as a researcher at Duke University.

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पोलार्ड पर आग बबूला हुए 'हिटमैन' रोहित, टी-20 सीरीज से पहले कैरेबियन कप्तान ने उड़ाई नींद

भारत-वेस्टइंडीज के बीच छह दिसंबर से टी-20 सीरीज का आगाज हो रहा है। इसके लिए भारतीय टीम का एलान पहले ही हो चुका है।

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पेरिस: रेलवे स्टेशन पर बैग में विस्फोटक होने की आशंका, पुलिस ने कराया खाली

पेरिस के व्यस्तम रेलवे स्टेशन गारे डू नॉर्ड से एक बैग में विस्फोटक मिलने के बाद पुलिस ने पूरे स्टेशन को खाली करवा दिया।

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Brazil President Accuses Leonardo DiCaprio Of Paying "To Torch" Amazon

Brazilian President Jair Bolsonaro claimed on Friday that Hollywood star Leonardo DiCaprio financed fires being set in the Amazon rainforest, without presenting any evidence, the right-wing leader's...

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हैदराबाद कांड पर बॉलीवुड स्टार्स ने जताया गुस्सा और बिग बॉस के लिए सलमान की बढ़ी फीस, पांच खबरें

पढ़िये मनोरंजन जगत की बड़ी खबरें।

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Drunk Man Kills Two Daughters After Argument With Wife In Noida: Cops

Uttar Pradesh Police on Friday arrested a man who allegedly killed his two daughters when he was drunk in Surajpur area on Thursday night.

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Panel Checking Delhi's "Shop-like Schools" Only Has "Yes Men": High Court

The Delhi High Court on Friday said that a committee appointed by the Centre to inspect "shop-like schools" operating in the city under the National Institute of Open Schooling or NIOS comprises only...

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Uddhav Thackeray To Take Floor Test Today

Uddhav Thackeray, who took oath as Chief Minister last evening after a week of political whirlwind in Maharashtra, will face a floor test in the Assembly today at 2 pm. NCP MLA Dilip Walse Patil will...

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IndiGo Pilots Revving Engines Too Hard Led To Problems: Report

IndiGo and Go Airlines India use the same type of engine made by Pratt & Whitney that's susceptible to mid-flight shutdowns. Yet IndiGo, one of Airbus's biggest customers, is the only one to encounter...

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Uddhav Thackeray Visits Lata Mangeshkar In Hospital, Asks About Health

A day after being sworn in as the Maharashtra Chief Minister, Uddhav Thackeray visited legendary singer Lata Mangeshkar at a city hospital on Friday.

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Companies need to do a lot more: Rishad Premji

BENGALURU: Indian companies need to do more to run their businesses fairly and ethically, benefiting all stakeholders, even as they look to increase their contribution to society and the environment, said Wipro chairman Rishad Premji.“On the whole I don’t think the business sector is doing enough – we must do a lot more – the global challenges of inequity, injustice, deprivation, and the crisis of climate change are so large, that all of us need to do a lot more – we cannot believe that we are doing enough,” he said.Rishad has imbibed the principle of companies being good corporate citizens from father Azim Premji, who quit as Wipro chairman in July to focus on philanthropy.The Bengaluru-based company’s activities in giving back to society have won it the 2019 The Economic Times Corporate Citizen of The Year Award. “It’s a recognition for the selfless dedication and sustained work of Wiproites and equally of our partners who work across a range of areas – from school education and water conservation to supporting children with disabilities,” Rishad Premji said.Wipro’s journey towards corporate social responsibility (CSR) began in 2001 with its first intervention in school education. Since then, it has expanded to participate in community care and ecology and environment. The company set up the Wipro Foundation, a separate entity created in 2017, to manage its CSR programmes. It actively involves employees in giving back to society and the neighbourhoods where it operates, through Wipro Cares. “From the early days, Wipro has always believed that business organisations must serve a larger social purpose,” Premji said. “We must run our businesses successfully, with integrity and fairness, but we must also be active and engaged citizens of the world.”The impact of this is measured. In FY19, more than 12,500 employees of Wipro spent around 30,000 hours of volunteering time with partner-organisations in 20 locations in India, the US, the UK, Japan, Australia and the Philippines.“All of us have to contribute to making this world better – and those who have more influence and capacity, and large corporations today have a lot of this – must do their bit in proportion to that influence,” Premji said.Wipro and other IT firms such as Infosys, Tata Consultancy Services and Tech Mahindra allocate funds and resources to CSR, primarily to improve quality of education in the country.

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TikTok, Huawei Helping China's Campaign To Repress Uighur Muslims: Report

Chinese tech giants including ByteDance, TikTok's parent company, and Huawei Technologies are working closely with the Communist Party to censor and surveil Uighur Muslims in China's western region of...

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13 Constituencies Vote In Phase 1 Of Jharkhand Assembly Elections Today

Thirteen constituencies spread across six districts will vote today in Jharkhand as polling begins for the five-phased state elections. The ruling BJP, which is contesting for the first time without...

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जरूरी खबर: कल से बदल जाएंगे ये छह अहम नियम, आपकी जेब पर पड़ेगा असर

एक दिसंबर से आपकी जिंदगी में कई बड़े बदलाव होंगे। इसका असर आम लोगों के साथ ही बैंक ग्राहकों और कारोबारियों पर भी पड़ेगा।

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भारत-जापान के बीच टू प्लस टू वार्ता आज, समुद्री सुरक्षा पर होगा मुख्य फोकस

भारत और जापान के बीच शनिवार को होने वाली ‘टू प्लस टू वार्ता’ का मुख्य फोकस हिंद प्रशांत क्षेत्र समेत सामरिक रूप से अहम जल क्षेत्र में समुद्री सुरक्षा सहयोग बढ़ाने पर होगा।

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भारतीय नौसेना की बढ़ी ताकत, डोर्नियर विमानों की नई स्क्वॉड्रन शामिल, पाक सीमा के पास तैनात

भारतीय नौसेना ने शुक्रवार को गुजरात के पोरबंदर शहर में डोर्नियर गश्ती विमानों की छठी स्क्वाड्रन को शामिल कर लिया।

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दस साल पहले हुए एफटीए समझौते पर पुनर्विचार के लिए आसियान देश तैयार

राज्यसभा में शुक्रवार को मौजूद सदस्यों ने प्रश्नकाल के दौरान सभी प्रश्न पूरे कराने के लिए सभापति वेंकैया नायडू को बधाई दी।

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पाक ने बालाकोट, कृष्णा घाटी और उड़ी में बरसाए मोर्टार, बैक टू विलेज कार्यक्रम को भी बनाया निशाना

पाकिस्तान ने शुक्रवार को एक बार फिर नापाक हरकत करते हुए पुंछ जिले के बालाकोट व कृष्णा घाटी तथा बारामुला जिले के उड़ी सेक्टर में अग्रिम चौकियों के साथ ही रिहायशी इलाकों को निशाना बनाया।

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सुप्रीम कोर्ट का आदेशः नाबालिग अवस्था में ‘आपराधिक भूल’ नौकरी में बाधक नहीं बन सकती

नाबालिग अवस्था में छेड़छाड़ का आरोप सरकारी नौकरी में बाधा नहीं बन सकता।

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नैंसी हत्याकांड: शव ठिकाने लगाने के बाद लॉज में खड़ी कर दी थी कार

जनकपुरी निवासी नैंसी की हत्या में इस्तेमाल पिस्टल और शव को ठिकाने लगाने के दौरान इस्तेमाल की गई कार पुलिस ने डाबड़ी से बरामद कर ली है।

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अब कोई ‘मुन्नाभाई’ नहीं बन सकेगा एमबीबीएस, छात्रों की होगी डिजिटल निगरानी

अब फर्जीवाड़ा करके कोई भी एमबीबीएस की डिग्री हासिल नहीं कर पाएगा।

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Indian Restaurant In UK Fined For Serving Dish To Teen With Nut Allergy

A UK based Indian restaurant was fined 3,767 pounds (around Rs 3.5 lakhs) for serving a dish with peanuts to a teenager who had a nut allergy.

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BJP Calls Sanjay Raut's Idea Of Anti-BJP Front "Mungerilal's Dream"

Mocking Shiv Sena leader Sanjay Raut's claim that an anti-BJP coalition would be formed in Goa, the ruling party in the state said on Friday that he was daydreaming.

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Devendra Fadnavis On House Hunt, Vacating Chief Minister's Residence

Former Maharashtra Chief Minister Devendra Fadnavis on Thursday started vacating the official Chief Minister residence in South Mumbai.

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गडकरी को मुख्यमंत्री बनाने पर राजी थी शिवसेना, संघ भी था सहमत मगर...

शिवसेना प्रमुख उद्धव ठाकरे अब महाराष्ट्र के मुख्यमंत्री बन चुके हैं, लेकिन अगर भाजपा का शीर्ष नेतृत्व केंद्रीय मंत्री नितिन गडकरी को मुख्यमंत्री बनाने के लिए मान जाता तो आज महाराष्ट्र में भाजपा शिवसेना गठबंधन की दोबारा सरकार बन चुकी होती।

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UK PM Skips TV Debate On Climate, Gets Replaced By Melting Ice Sculpture

Britain's governing Conservative Party complained to the broadcasting regulator after its chosen representative was shut out of a general election television debate on climate change on Thursday.

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Delhi Teen Caught Smoking Hookah, Suspended From School; Moves High Court

A 9th class student banned from attending classes after allegedly being caught smoking hookah has approached the Delhi High Court seeking direction to the school to allow him to continue his study.

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Lenders to refer more cases to NCLT

MUMBAI: The overloaded National Company Law Tribunal is set to receive a huge chunk of resolution plans in early January as banks scramble to come up with a plan for loans worth Rs 3 lakh crore under the June 7 circular.Lenders need to come up with a plan by January 7, failing which they would be required to make 20% provisions or refer the cases to court under IBC within 30 days, under the new RBI rule.“Many cases will be referred to NCLT whereever banks fail to put together a resolution plan,” said a senior bank executive with a public sector bank. “If banks do not refer cases to NCLT, they will have to make additional provision of 20%.”Lenders are referring cases to IBC based on the viability and depending on the extent of haircut the bank can take.The volume of such stressed cases, particularly with respect to exposures of more than Rs 2,000 crore, was estimated by us at Rs 3.8 lakh crore of exposure across 72 large borrowers as of September 2018, Icra said in a report.Under the revised June 7 framework, the lenders are bound to enter into an inter-creditor agreement (ICA), to implement a resolution plan. The ICA is binding on all creditors party to the ICA if it is approved by 75% of the creditors in terms of outstanding value and 60% of the number of creditors.72286166 If the resolution plan is not implemented in a time-bound manner, the provisioning on such accounts can increase up to 50% in a period of 4-5 quarters from the account turning special mention account.By January 7, creditors have to enter into an inter-creditor agreement and the resolution plan and will have to implement it within 180 days of the end of the review period.Since December 2016, 2,542 cases have been taken under IBC and of these 186 have been closed on appeal or review or settled, 116 have been withdrawn, 587 have ended in orders for liquidation and 156 have ended in approval of resolution plans, according to the report by Insolvency and Bankruptcy Board of India.

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Kaun banega crorepati at IITs from Sunday

KOLKATA/NEW DELHI: Salesforce, Microsoft, Cohesity and Uber are set to offer crore-plus pay packages for the cream of engineering talent at Indian Institutes of Technology, where the final placements start this Sunday.Only two companies, Microsoft and Uber, had offered compensation packages in excess of Rs 1 crore last year.“Despite all the talk about a slowdown, it is shaping up to be a strong placement season. There are more companies this year offering big salary packages,” said a placement coordinator at an IIT.Salesforce is likely to emerge the top paymaster for the Class of 2020, as it has lined up offers of around Rs 1.8 crore (including variable pay and stock options) for software developer roles, IIT placement officials said. The American cloud-based software company is so far offering this international profile only at IIT-Madras and IIT-Bombay, they said.Microsoft, which had made the biggest offer in the past three years, is offering about Rs 1.54 crore ($214,600) for roles in the US, the officials said. This package comprises a base salary of $108,000, performance bonus of $21,600, joining bonus of $15,000 and restricted stock units worth $70,000.Microsoft had offered the same top package in the past two years as well. A Day-One recruiter on IIT campuses, it will hire for international and domestic positions.San Jose-headquartered privately held information technology company Cohesity and cab aggregator Uber also have lined up offers worth more than Rs 1 crore for jobs in the US. Uber’s offer remains unchanged from last year.Making its debut at the premier engineering colleges is Clumio, a startup which is offering a package of Rs 89.5 lakh ($125,000), said placement sources.Microsoft, Salesforce, Uber and Cohesity did not reply to emails sent by ET. Clumio couldn’t be reached for comment.Most of these companies are looking at hiring fresh graduates for software development profiles.Some of the pre-placement offers are likely to be converted into international offers during the final placements.ET had reported last Saturday that preplacement offers at both old and new IITs had outnumbered last year’s numbers by an average of 19-24%, in an indication that the top tech colleges are largely insulated from the economic slowdown. At National Institutes of Technology, too, final-year students have got more job offers and better pay packages in the ongoing final placement season.

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इराक में इरानी वाणिज्य दूतावास में आगजनी, 25 की मौत, 200 घायल

इराक के दक्षिणी शहर नजफ में बुधवार देर रात गुस्साए प्रदर्शनकारियों ने ईरानी वाणिज्य दूतावास को आग के हवाले कर दिया।

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Viral: Parvathy's Tweets On Using 'Bipolar' Casually Wins Internet

She out-Parvathy-d herself by responding to a tweet calling her out for casually using the term 'bipolar behaviour' during a discussion

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Recipe Video: Make Easy Gujarati Sev Tamatar Ki Sabzi In Just 10 Minutes

Sev tamatar ki sabzi is a quick and easy Gujarati recipe that will not take more than 10 minutes to prepare at home. Spicy, tangy and sweet the three distinct flavours come together to make this...

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Government measures fail to stem slide in NBFC credit

MUMBAI: Credit disbursals by nonbanking financial companies (NBFCs) have continued to slide despite government measures to boost bank funding to the sector. Loan sanctions fell 34% in the September quarter, a year after the NBFC liquidity crisis that was sparked by the unexpected defaults at Infrastructure Leasing & Financial Services (IL&FS).Total NBFC sanctions fell to Rs 1.9 lakh crore at the end of September from Rs 2.9 lakh crore during the same period last year, according to data compiled by the CRIF High Mark credit bureau and the Finance Industry Development Council (FIDC). The latter is a grouping of NBFCs.“Liquidity transmission from PSBs (public sector banks) to non-AAA-rated NBFCs remains constricted. The cost of funds has gone up by over 120 bps (basis points) despite 135 bps of repo rate cut. Thus there is divergence of spread of almost 250 bps,” said Magma Housing Finance CEO Manish Jaiswal.“NBFCs play a pivotal role driving last-mile credit reach and the government must systemically examine fund flow and cost of funds to non-AAA-rated NBFCs to fix this issue.”While overall sector trends were bleak, a few segments such as consumer durable loans, gold loans and personal loans were in positive territory. On an annual basis, consumer loans grew 7% to Rs 13,114 crore while personal loans grew 22% to Rs 18,262 crore. Gold loans rose 17%.The government and the Reserve Bank of India (RBI) have announced several measures to arrest the collapse of the nonbank lending space that contributes over 20% to total credit. They didn’t, however, implement a bailout or liquidity window.72286047 The regulator has put in place measures to increase liquidity in the system, aiding bank lending to NBFCs. It also relaxed securitisation and priority sector norms to facilitate this. The government announced a partial credit guarantee (PCG) scheme to restore confidence in the sector but that’s remained a nonstarter.“Whatever measures have been announced by the government have not been very effective,” said FIDC co-chairman Raman Agarwal. “The measures are routed through banks and banks have become risk averse. Portfolio buyout is a band-aid solution and not a real solution to come out of the liquidity squeeze.”The NBFC sector is facing multiyear-high credit costs with banks showing little enthusiasm to lend to them. Data show that before the IL&FS crisis in September last year, banks charged nearly 40 bps as the spread on AAA-rated NBFC paper. This rose to more than 1.5 percentage point and has remained at that level despite the regulatory and policy measures.“The government’s PCG scheme is yet to see any liquidity transmission and even the sanctions have not really been forthcoming,” said Jaiswal. “The PCG scheme has remained as a well-meaning intent on paper and is yet to reach the desired level of execution.”Among the casualties of the credit crunch is mortgage lender Dewan Housing Finance Corp. Ltd (DHFL), which became the first NBFC to enter bankruptcy resolution under the Insolvency and Bankruptcy Code (IBC). DHFL owes the banking system nearly Rs 1 lakh crore. Another nonbank lender Altico Capital, which failed to make payments in September this year, has failed to raise capital or find any resolution. Mutual funds, a key lender to NBFCs after being flooded with cash from investors in 2016-17, have frozen lending due to redemption pressures.

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Black Friday’s here. Let’s shop and make it bright

NEW DELHI: Black Friday sale is catching up in India, with a spectrum of brands betting on the US ‘shopping day’ to lure discount-hungry consumers to make that impulsive purchase they'd been resisting.Many brands and retailers both offline and online, including H&M, Myntra, Shoppers Stop, Canali and RealMe are offering up to 50% discount on select products across their range for three days.At Palladium Mall in Mumbai, Reliance Brands-owned Canali, Salvatore Ferragamo, Emporio Armani, Brooks Brothers and Hugo Boss are offering up to 40% discount, while Aldo Shoes is giving flat 50% off. H&M is offering 20% off on everything on sale, industry insiders said.Many firms including beauty brands The Body Shop, Kiko Milano and Forest Essentials, and clothing companies Gap, Ajio and Myntra have put together quick shopping offers, while some such as Shoppers Stop are running a countdown on their website. Being Human is offering flat 25% discount.Black Friday, or the Friday after the Thanksgiving Day in the US, is regarded as the beginning of Christmas shopping season there. Many stores offer huge discounts and open very early, some even at midnight or the previous evening.Indian marketers offering Black Friday deals is part of their efforts to reduce their dependence on the Dussehra and Diwali shopping peak that used to account for 50-70% of the year’s sales, said Devangshu Dutta, CEO at consulting firm Third Eyesight. “With modern retail distribution channels and high fixed costs, companies want to flatten out these peak seasons as much as possible,” he said. To do this, retailers create many events around which customer footfalls are induced to push slow moving merchandise.“The Indian consumer has become smart and has by and large figured out what the discount pattern is and delays their purchases till then,” Dutta said. “While retailers and brands blame consumers for being price sensitive, they themselves create these events.”Some marketers consider Black Friday a “business occasion” to acquire new customers while some others use the occasion to push fresh merchandise sales before winter sales kick in around December 20.“As a retailer we look at this business occasion to acquire new customers since deals are irresistible,” said Tushar Ved, president of Major Brands that operated international brands such as Bath and Body Works, Aldo, La Senza and Promod in the country.Pushpa Bector, executive director at DLF Shopping Malls, said some brands in the company’s malls in Delhi-NCR and Chandigarh have seen 15-20% upward swing in sales during Black Friday. “We have seen a good response for a couple of years and the concept is here to stay,” she said.Poor Diwali performance and increasing competition from ecommerce platforms that are always offering some or the other discounts, too, are pushing offline retailers and brands to look for a reason to go on sale, experts said.“Some companies want to liquidate their winter stock which is possibly 6-12 months old,” said Yogeshwar Sharma, CEO at the popular Select Citywalk Mall in Delhi. “Since India has no concept of outlet malls where brands can recover their money, they discount nearly 70% of their stock in this sale,” he said.“It's like a herd mentality and no brand wants to lose out, even though less than two weeks from now winter sales kick in,” Sharma said.There is usually some mystery around Black Friday offers in the US as many brands don't reveal them till the last minute.72285972 “In India, too, we have witnessed much enthusiasm for Black Friday,” said Abhishek Bhattacharya, country director at Kiko Milano India. “We give an open hand to the customer to choose any product and we expect the sales to grow 4x along with acquiring new customers base.”One retailer said even those brands that had no plans to offer any special deal are forced into it because every other brand is offering some or the other scheme.

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TikTok Admits Error For Penalizing Teen Who Posted Political Videos

TikTok on Wednesday acknowledged it had erred in penalizing a 17-year-old who had posted witty but incisive political videos, promising it would restore her ability to access her account on her...

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Court Orders Closure Of PIL Against Super 30 Founder Anand Kumar

The Gauhati High Court on Thursday ordered closure of a PIL filed by four students against mathematician Anand Kumar for allegedly cheating them in the name of admission to Super 30, the education...

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आज आएंगे जीडीपी आंकड़े, 4.7 फीसदी रह सकती है विकास दर

उपभोक्ता मांग और निजी निवेश में कमी के कारण जुलाई-सितंबर तिमाही में भारत की विकास दर छह साल से भी ज्यादा नीचे जा सकती है।

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सांसद प्रज्ञा के निलंबन को लेकर सस्पेंस कायम, कांग्रेस ने की सदस्यता खत्म करने की मांग

कांग्रेस ने भाजपा सांसद प्रज्ञा ठाकुर के महात्मा गांधी के हत्यारे गोडसे के समर्थन में दिए बयान के खिलाफ लोकसभा में निंदा प्रस्ताव लाने की तैयार की है।

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सुरक्षा परिषद में भारत को स्थायी सदस्यता पर आश्वस्त: जयशंकर

विदेश मंत्री एस जयशंकर ने कहा कि भारत को संयुक्त राष्ट्र सुरक्षा परिषद में स्थायी सदस्यता मिलने को लेकर वह पूरी तरह आश्वस्त हैं।

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नागरिकता संशोधन बिल पर सहमति बनाने को आज और कल खास वार्ता

नागरिकता कानून में संशोधन के प्रयासों के विरोध को देखते हुए केंद्र सरकार ने इसके लिए आम सहमति बनाने के प्रयास शुरू कर दिए हैं।

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क्यूएस एशिया रैंकिंग 2020: भारतीय शिक्षण संस्थानों की रैंकिंग गिरी

भारतीय शिक्षण संस्थानों की रैंकिंग में गिरावट से विश्व के सर्वश्रेष्ठ संस्थानों में जगह बनाने की तैयारी को झटका लगा है।

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अनधिकृत कॉलोनियों की डिजिटल मैपिंग पर बोले हरदीप पुरी, काम 31 दिसंबर तक होगा पूरा

केंद्रीय मंत्री हरदीप सिंह पुरी ने बताया कि 1731 कॉलोनियों की डिजिटल मैपिंग का काम इस साल 31 दिसंबर तक पूरा हो जाएगा।

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महंगे प्याज का मसला पहुंचा केंद्रीय मंत्री पासवान के दरबार, दिल्ली के मंत्री ने लिखा खत

दिल्ली में प्याज की बढ़ती कीमतों के मद्देनजर बृहस्पतिवार को दिल्ली सरकार के मंत्री इमरान हुसैन ने केंद्रीय मंत्री रामविलास पासवान को पत्र लिखा है।

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Month After Transfer, Former Assam NRC Coordinator Accused Of Corruption

A prominent non-governmental organisation has demanded a CBI probe into alleged "illegalities and financial irregularities" in Assam's National Register of Citizens (NRC) exercise carried out under...

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Indonesia Man's Solution To Beat The Traffic - A Homemade Helicopter

Indonesia's notorious traffic gridlock has been known to send commuters into a spin, but one man has decided to rise above the daily grind -- by building his very own helicopter.

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Nathuram Godse Wasn't A Terrorist, He Committed A Mistake: BJP MLA

Amid BJP's attempt to distance itself from MP Pragya Thakur's comment praising Mahtama Gandhi's assassin, a party MLA in Ballia said Nathuram Godse committed a mistake but he was not a terrorist.

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Trump Tweets Photoshopped Picture Of Him As Boxer Amid Health Rumours

Days after causing alarm with an unscheduled trip to the hospital, President Donald Trump tweeted a photo-shopped image of himself Wednesday as a rippling, bare-chested boxer.

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NCLT directs DoT not to suspend Aircel’s spectrum license

The bankruptcy court has directed the telecom department not to suspend spectrum licenses of Aircel , a huge relief to the defunct operator, at a time when Aircel is on the verge of selling its assets and the airwaves are most valuable of them.“ The relief sought by the Corporate Debtor is that due to issuance of Demand Notice by DoT an apprehension is that the same may be suspended. We hereby direct that the clauses of "Moratorium" are squarely applicable on this Corporate Insolvency Resolution Process Proceedings, hence need not be interrupted or hampered by any authority,” said National Company Law Tribunal (NCLT) on its verdict , which was made available in early hours of Thursday .The battle between Aircel , which keeled under a debt of Rs 26,000 crore, and Department of Telecommunications (DoT) started when the latter demanded dues on airwaves be paid to the government failing which licenses should be suspended . The telecom department was against resolution professionals being allowed to sell spectrum under the insolvency process, arguing that airwaves are a natural resource which belongs to the government and is just leased to an operator with a right to use for 20 years, DoT in fact wanted bankrupt telcos to return their airwaves to the government which it can then auction.DoT's views in the Aircel case come as it realised it would barely get a crore or two from the resolution plan cleared by the Committee of Creditors (CoC) for the bankrupt operator. DoT had filed claims worth some Rs10,000 crore, of which only Rs2,000 crore was approved by Deloitte.But the department will be disappointed by this order . “...hereby instruct the concerned DoT authority not to make any attempt to cancel the impugned license issued in favour of the debtor company,” said NCLT’s Mumbai bench. This verdict will also impact the second bankrupt operator in telecom industry -Reliance Communications (RCom) , which is also waging a legal battle against DoT over spectrum on similar grounds. “Bench is of the view that, admittedly the License/Spectrum is an asset of State over which the Corporate Debtor has no right of ownership, therefore, up to this extent the argument of the Government is hereby accepted...,” said the court order but also mentioned that resolution professional -Deloitte , “ is not demanding the 'ownership' of the license as a product but simply seeking uninterrupted use of the said intangible asset”.The tribunal concluded that 'right to use' should remain, during the period agreed upon, with the Corporate Debtor which is always beneficial for the company as well as for all stake holders. The resolution plan -in which lenders of the telco have agreed to sell their assets to UV Asset Reconstruction Ltd (UVARCL) , is awaiting the court’s approval as well. Aircel, which declared bankruptcy in March 2018 after failing to repay its debt, has received claims worth Rs 20,000 crore from lenders and a claim for a similar amount from operational creditors.However, this may not be the end of the legal tussle . The government is expected to explore all legal options to ensure bankrupt telcos return their spectrum and the matter may be taken up to higher courts . This case will also help UVARCL look at suitable buyers once the resolution plan is approved . Aircel’s spectrum bands, which are valid until 2026 except for Tamil Nadu, should evoke interest from the telcos planning to expand their 4G base but at about a 20-25% discount on the base price offered in last auction.Aircel has previously told the National Company Law Tribunal (NCLT) that its spectrum is worth Rs 1,100-2,000 crore.

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Scientists Spot Black Hole So Huge It "Shouldn't Even Exist In Galaxy"

Astronomers have discovered a black hole in the Milky Way so huge that it challenges existing models of how stars evolve, researchers said Thursday.

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Congress MLA Says Ready To Follow Jyotiraditya Scindia If He Leaves Party

Pohari MLA Suresh Rathkheda on Wednesday caused a flutter by claiming that he would be the first to follow party MP Jyotiraditya Scindia if he decides to leave Congress and form his own party

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Delhi-Mumbai Expressway On Fast Track, Says Nitin Gadkari

The government's ambitious project to connect Delhi with Mumbai through a signal-free expressway is on fast track, Union Minister of Road Transport and Highways Minister Nitin Gadkari said on...

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Government Withdraws Jammu And Kashmir Reservation Bill From Lok Sabha

The government on Wednesdaywithdrew the J-K Reservation Bill from the Lok Sabha as central laws providing quota to the economically backward class are now applicable to the union territory post repeal...

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Ola, Uber fees may be capped at 10% of total fare

BENGALURU: The central government plans to cap the commission earned on rides by firms such as Uber and Ola to a maximum of 10% of the total fare in its upcoming rules for taxi aggregators, people privy to the matter said.This is the first time the government is looking to regulate the commission collected by such firms, which currently stands at about 20%.Further, state governments, if they choose to, could also levy a charge on the aggregators’ earnings, according to the guidelines shared with state officials that ET has reviewed.“We are planning to release the draft (aggregator rules) for public feedback sometime next week,” said a senior official from the road transport and highways ministry that formulated the guidelines shared with the states last month. “It will largely be in line with the guidelines that were shared, with a few small changes.”On the contentious issue of surge pricing, the government has suggested capping it to a maximum of twice the base fare. The base fare can be fixed by the state, or suggested by the aggregator and revised every quarter.Rules may be in place by year-endHowever, there is a follow-on clause stipulating that no more than 10% of daily rides undertaken by a driver can be subject to surge pricing.ET first reported on the proposal to cap the surge pricing at thrice the base fare in its September 13 edition.The final rules for cab aggregators, which will be notified under the Motor Vehicle Act, 2019 that came into force on September 1, is likely to be formalised before the end of the year.The guiding document detailed the fee caps, apart from regulations on surge pricing, passenger and driver safety, penalties for drivers and aggregators, and licencing norms for aggregators.Tackling the other big issue of drivers cancelling rides, the guidelines suggest a penalty in the range of 10-50% of the total fare not exceeding Rs 100. Further, states will be able to set a maximum number of cancellations a driver can make in a week, before being off-boarded by the aggregator for a period of two days. A similar penalty of 10-50% of the total fare not exceeding Rs 100 could be levied on passengers cancelling a ride for no reason.72269146 On the safety front, the government could mandate an insurance cover of Rs 5 lakh for each rider, the guidelines said. Aggregators will also have to verify a driver either through facial recognition or biometrics once every three hours to ensure that the driver undertaking the trip is the same as the person enlisted with the aggregator.“Ride-hailing is one of the best solutions for India. One cab replaces 10 personal cars on the road and 35% of personal car trips at any given point remain idle,” one of the senior officials said. “This is what causes congestion.”He added that the rules were in line with promoting ride-hailing in the country, while also protecting driver and rider interests. The guidelines suggest that states should allow city taxi permit holders to also get attached to aggregator apps. Further, state governments should ensure that public parking spaces be allocated to cabs attached to ride-hailing companies. “Municipalities need to recognise that this (ride-hailing) is something good for the country. Unfortunately we have been facilitating only the sale of private vehicles through our policies,” added the official.

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Business to movies: Serbia emerges as a gateway to Central & Southern Europe

NEW DELHI: When foreign minister S Jaishankar recently visited Belgrade on a standalone trip, it surprised many in India’s national capital who were unaware of the fact that Serbia has quietly emerged as a gateway to central and southern Europe for everything from business to movies.Serbia has been fascinating Indian filmmakers and producers in recent years with 10 Indian films being shot in Serbia over the past four years. The list of blockbusters include ‘Uri: The Surgical Strike’ –– the Bollywood blockbuster on the 2016 surgical strikes by the Indian Army across the border –– and ‘Baahubali 2: The Conclusion’ (2017).The list also includes Amitabh Bachchan and Aamir Khan starrer ‘Thugs of Hindostan’ (2018), ‘Soorma’ (2018), ‘Kotigobba 3’ (2018), Rajnikanth starrer ‘2.0’ (2018), ‘Kaatru Veliyidai’ /Into the Wind (2017) — also directed by Maniratnam and Vivegam (2017).The crucial game changer for Serbia’s soft power has been the introduction of a 25% cash rebate for films. The minimum expenditure to qualify for cash rebate for feature films is $350,000 (approximately Rs 2.3 crore).Film incentives support feature and documentary films, TV series and postproduction. Serbia is also one among a handful of countries to give access to cash rebate to TV commercials which has so far been applied to 60 projects.The visa-free entry for Indians into Serbia has further spiced up its attraction. Maniratnam shot Tamil movie ‘Chekka Chivantha Vaanam’ in the pristine locales of Serbia.With decades of international filmmaking tradition, Serbian locations and talented crew have started winning the hearts of Indian filmmakers and audiences who have enjoyed the breath-taking action scenes in films like ‘Oopiri’ and ‘Vivegam’ shot on the streets of Serbian capital Belgrade. In ‘Soorma’, all European scenes were actually shot in Serbia, including some on stadium matches.“We were honoured to host an Indian external affairs minister after 30 years or so, which is immensely important for us. This is also true of Serbia as a new travel destination with more than 10,000 Indian travellers expected to visit Serbia in 2019. It is true that Serbia is becoming an increasingly important destination for the Indian film industry. The biggest Bollywood movie of this year so far –– ‘Uri: the Surgical Strike’ –– was shot in Serbia.‘Baaghi 3’ is being filmed there as we speak. There are several reasons for this,” Vladimir Maric, Serbian Ambassador to India, told ET.“We are proud of every new film that we serviced in Serbia and ‘Uri’ has been the biggest accomplishment so far,” said Djurdja Vitorovic, production manager of ‘Uri’.

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Mahindra plans a 12-pronged assault

MUMBAI: Mahindra & Mahindra has charted out an aggressive product-launch plan of a dozen models in the coming three-four years, as it seeks to arrest the slide in its share in an intensely competitive utility vehicle market. The marketing and product launch plans of the maker of the XUV 500 and Scorpio are aimed at least at holding to its market share if not growing it, managing director Pawan Goenka said. Its market share has almost halved in the past five years, even as action has picked up in the utility space this year with the entry of new players like MG Motor and Kia Motors.“The customers' tastes are changing very rapidly and the competitive intensity is rising with many entrants looking at India as the primary market with products,” Goenka told ET. “Therefore, for us to remain where we are, we have to do a lot more with the products — because of the technology pressure, customer pressure and competition pressure.” The company plans to launch a new-generation XUV 500, codenamed W601, in the next fiscal year starting April, Goenka said. An allnew Scorpio, codenamed Z101, and the Thar SUV being developed as W501 too are set to hit the market in fiscal 2021. These will be followed by amid-sized SUV in FY22, to rival the Hyundai Creta, based on the B-segment architecture of Ford Motor with which Mahindra has a partnership, said people in the know. This vehicle is codenamed S204.

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स्पीकर ओम बिड़ला ने लोकसभा में बनाया रिकार्ड, 47 साल बाद पूछे गए प्रश्नकाल के सभी सवाल

लोकसभा में बुधवार को अनोखा रिकार्ड बना। प्रश्न काल में रखे गए सभी 20 प्रश्नों को पूरा किया।

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मध्य प्रदेशः नसबंदी के बाद 13 महिलाओं को जमीन पर लेटाया

मध्य प्रदेश के विदिशा जिले में डॉक्टरों की बड़ी लापरवाही का मामला सामने आया है। सोमवार को ग्यासरपुर प्राथमिक उपचार केंद्र में एक स्वास्थ्य शिविर का आयोजन किया गया था।

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सियासत की धुरी बनीं अनधिकृत कॉलोनियां, केजरीवाल ने संभाला मोर्चा

दिल्ली विधानसभा चुनाव की सियासी बिसात अनधिकृत कॉलोनियों के मसले पर बिछती दिख रही है।

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दिसंबर तक आंसू निकालेगा प्याज, दाम फिर 100 रुपये प्रति किलो

प्याज की कीमत एक बार फिर 100 रुपये प्रति किलो तक पहुंच गई है।

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दिल्ली-एनसीआर में हल्की बारिश, 47 दिन बाद सुधरी हवा, आज भी बूंदाबांदी की संभावना

दिल्ली-एनसीआर में बुधवार को हल्की बारिश और कुछ इलाकों में ओले पड़ने से प्रदूषण भी धुल गया।

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चीन राजनयिक मिशनों की संख्या में अमेरिका से आगे निकला, एशिया में भारत तीसरे नंबर पर

चीन दुनिया में राजनयिक मिशनों की संख्या के मामले में अमेरिका से आगे निकल गया है।

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Huawei Launches Smart Screen V75 4K TV, Sound X Smart Speaker

Huawei has launched the Smart Screen V75 smart TV packing a 75-inch 4K panel and the Sound X smart speaker in China.

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Delhi Man, 21, Kills Wife, Throws Body On Road; Arrested

A man has been arrested in Delhi for allegedly killing his wife and throwing her body on the road with two of his accomplices, the police said on Wednesday.

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CG Power lenders hire audit company BDO to monitor fund flows

MUMBAI: Lenders to CG Power & Industrial Solutions have appointed Belgium-headquartered auditing firm BDO to track the daily fund flows of the company and the transactions made by its management, three people familiar with the matter said.Lenders are reluctant to give fresh loans to the company hit by allegations of corporate governance violations and fraud. They are nervous about the way the cash flows are managed and want to monitor the daily expenses, and hence all expenditures will be approved through BDO, which has been hired as an agency for specialised monitoring (ASM), one of the people said.“Every transaction, whether it is a vendor’s bill or even a supplier’s payment, will be monitored by the ASM. If there is a red flag, then the transaction would be stopped immediately,” he added. BDO India declined to comment. CG Power did not respond to ET’s queries.Corporate governance violations surfaced at CG Power in August, with a board-led investigation revealing wrongdoing by some current and former employees, leading to the dismissal of chairman Gautam Thapar. The probe found understatement of Rs 4,796 crore in advances to related and unrelated parties, and Rs 2,661 crore in liabilities.Out of the 14 lenders to CG Power, nine banks that hold nearly 88% of its total loans outstanding have signed an inter-creditor agreement, a precursor to resolving stressed loans under the Reserve Bank of India’s framework. As of March-end, CG Power had total domestic debt of Rs 2,349 crore, international debt of Rs 1,215 crore, and another Rs 463 crore of contingent debt even as the company is restating its accounts.72269036 “The lenders also want to scrutinise all the related-party transactions and track how the money lent by them is being deployed,” said an official involved in the discussions, speaking on the condition of anonymity. “The funds must be used for the precise purpose for which those were meant … and the appointed agency has been mandated to track these transactions beyond the financial statements.”In the past, lenders have observed that fraud-hit companies tend to exaggerate the value of stock or overpay vendors for supplies, hence banks want to monitor stock and receivables on an ongoing basis. Also, background verification of vendors and suppliers may be conducted if any red flags are raised.ET recently reported that CG Power had sought a waiver from the market regulator to access the capital market. The company is planning to raise Rs 800 crore from existing and new investors to tide over a funds shortage.Last week, the company informed stock exchanges that the Ministry of Corporate Affairs had approached the Mumbai chapter of the National Company Law Tribunal seeking to reopen the books of accounts of the firm for the last five years.

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EESL plans to issue tender for e-luxury cars in January

NEW DELHI: State-run Energy Efficiency Services Ltd (EESL) is set to float a tender for procurement of electric luxury cars, possibly in the range of Rs 25 lakh each, which it plans to lease out to cab aggregators like Ola and Uber, people aware of development said.“EESL may go for a small procurement of 200 cars, to be used in the shared-mobility segment,” said a source aware of the development.“Proposals have been sent to Ola and Uber for leasing out 50 cars to each aggregator, while purely electric ride-hailing service Blu Smart has also evinced interest for such cars,” the person added.Both Ola and Uber declined comment on the development. The tender is likely to be floated in January 2020, around the time when foreign automakers such as BMW are expected to launch their electric cars in India. Currently, Hyundai's Kona is the only car present in the premium electric car segment.China’s MG Motor is likely to launch its electric SUV MG ZS EV next month.Blu Smart promoter Anmol Singh Jaggi told ET that it has a requirement of around 100 luxury SUVs, which it wants to deploy in its existing fleet of over 500 electric sedans it procured from EESL. “EESL is also expected to generate demand for these cars from central ministries and PSUs,” said a second source.

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Thieves Steal Onions From Bengal Shop, Leave Cash Box Untouched

With their prices breaching the Rs 100 per kilo mark in West Bengal, onions have seemingly become more alluring for thieves than cash, at least going by the claim of a vegetable seller whose shop was...

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Top Court Declines Hearing To PIL Accusing Shiv Sena Of Breach Of Trust

The Supreme Court today refused to accord urgent hearing to a plea accusing Shiv Sena of committing breach of trust by aligning with NCP and Congress to form government in Maharashtra.

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Redmi K30 Hands-On Image, Key Specifications, and Price Leaked

Redmi K30's live image has again surfaced online, and alleged specifications and pricing info have leaked as well.

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"Will Return And...": Amruta Fadnavis's Poetic Goodbye On Twitter

Former Maharashtra Chief Minister Devendra Fadnavis's wife Amruta Fadnavis on Tuesday tweeted a poetic verse hours after her husband resigned from his post.

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Maharashtra MLAs To Take Oath Shortly, Interim Speaker To Oversee Them

All 288 newly-elected MLAs of Maharashtra will take oath at 8 am today in a special assembly session called by Maharashtra Governor Bhagat Singh Koshyari, in less than 24 hours after Devendra Fadnavis...

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BPSL acquired Rs 27-cr assets by diverting loans: ED

NEW DELHI: The Enforcement Directorate (ED) has alleged that Bhushan Power & Steel Ltd (BPSL) acquired assets worth Rs 27,559 crore during a period when funds out of loans received from banks were “diverted and routed back as equity” by the company.As per its probe report, accessed by ET, the agency has said BPSL acquired land valued at about Rs 361 crore, made addition of buildings valued at Rs 7,473 crore and plant and machinery of Rs 19,725 crore between 2011 and 2017.The funds infused as equity capital by the Singals and associated promoter companies were sourced from bank loans that were illegally diverted, the ED said. ET, on Saturday, reported that the ED told a local court that it was probing a Rs 47,000-crore fraud involving the company and its promoters.The agency has so far attached land, building and equipment valued at Rs 4,025 crore, terming those to be “proceeds of crime”.Sources told ET that unknown public servants of banks and others were also under the scanner for allegedly cheating banks and the government exchequer by conniving with BPSL promoters.It accused the Singal family of diverting “huge amount of bank funds through companies/shell companies/entities” and “deliberately” defaulting on repayments. Former BPSL chairman Sanjay Singal was arrested by the ED last week. He is currently in ED’s custody.On October 3, during his questioning, Singal was asked to explain the “circular nature” of transactions adopted by BPSL involving bogus invoices, transporters and entry operators, the agency has said in the report.To this, Singal told the agency that BPSL had been allotted two coal mines near its Jharsuguda plant in Odisha, and the company had invested a huge amount of money in development of these mines.“However, subsequently, these allotments were cancelled. Further, two iron ore mines were also agreed upon as per a memorandum of understanding by the state government; however, it was never recommended by the state government. Due to this, the company was not able to have captive raw material. These circumstances led to financial hardship for the company, and in order to maintain a healthy debt-equity ratio, the company resorted to these circular transactions for introduction of equity,” Singal said, according to the probe report.The ED, in May, had reached out to the Central Bureau of Investigation and the Director General of GST Intelligence before summoning Singal. As per its initial investigation, Rs 2,348 crore were diverted from five bank accounts of BPSL.The ED has zeroed in on nearly two dozen entities which allegedly helped BPSL commit fraud by issuing fake purchase invoices.The agency has recorded statements of the owners of these entities. One of them revealed a key role played by an alleged middleman between BPSL and these entities. The middleman has also been questioned and allegedly admitted to facilitating the fraud, the ED report said.As first reported by ET on October 19, Singal, in his testimony to the ED, had said Rs 3,330 crore were routed to the accounts of four companies controlled by him out of the funds diverted from the accounts of BPSL, in the shape of advances shown to various parties.It added that Singal had conceded that the four companies — Jasmine Steel Trading, Marsh Steel, Diyajyoti Steel and Vision Steel — were promoters of BPSL that were ultimately owned and controlled by him and his family. The four companies infused Rs 3,330 crore in BPSL from 2011-12 to 2016-17.The outstanding defaulted amount by BPSL as on January 30, 2018, was Rs 47,204 crore. It is alleged that BPSL availed of loan facilities from 33 banks and financial institutions between 2007 and 2014. The lead bank was Punjab National Bank, and the loans were taken for different purposes, such as working capital, purchase of plant machinery, etc.

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BPSL acquired Rs 27,559-crore assets by diverting loans: ED

NEW DELHI: The Enforcement Directorate (ED) has alleged that Bhushan Power & Steel Ltd (BPSL) acquired assets worth Rs 27,559 crore during a period when funds out of loans received from banks were “diverted and routed back as equity” by the company.As per its probe report, accessed by ET, the agency has said BPSL acquired land valued at about Rs 361 crore, made addition of buildings valued at Rs 7,473 crore and plant and machinery of Rs 19,725 crore between 2011 and 2017.The funds infused as equity capital by the Singals and associated promoter companies were sourced from bank loans that were illegally diverted, the ED said. ET, on Saturday, reported that the ED told a local court that it was probing a Rs 47,000-crore fraud involving the company and its promoters.The agency has so far attached land, building and equipment valued at Rs 4,025 crore, terming those to be “proceeds of crime”.Sources told ET that unknown public servants of banks and others were also under the scanner for allegedly cheating banks and the government exchequer by conniving with BPSL promoters.It accused the Singal family of diverting “huge amount of bank funds through companies/shell companies/entities” and “deliberately” defaulting on repayments. Former BPSL chairman Sanjay Singal was arrested by the ED last week. He is currently in ED’s custody.On October 3, during his questioning, Singal was asked to explain the “circular nature” of transactions adopted by BPSL involving bogus invoices, transporters and entry operators, the agency has said in the report.To this, Singal told the agency that BPSL had been allotted two coal mines near its Jharsuguda plant in Odisha, and the company had invested a huge amount of money in development of these mines.“However, subsequently, these allotments were cancelled. Further, two iron ore mines were also agreed upon as per a memorandum of understanding by the state government; however, it was never recommended by the state government. Due to this, the company was not able to have captive raw material. These circumstances led to financial hardship for the company, and in order to maintain a healthy debt-equity ratio, the company resorted to these circular transactions for introduction of equity,” Singal said, according to the probe report.The ED, in May, had reached out to the Central Bureau of Investigation and the Director General of GST Intelligence before summoning Singal. As per its initial investigation, Rs 2,348 crore were diverted from five bank accounts of BPSL.The ED has zeroed in on nearly two dozen entities which allegedly helped BPSL commit fraud by issuing fake purchase invoices.The agency has recorded statements of the owners of these entities. One of them revealed a key role played by an alleged middleman between BPSL and these entities. The middleman has also been questioned and allegedly admitted to facilitating the fraud, the ED report said.As first reported by ET on October 19, Singal, in his testimony to the ED, had said Rs 3,330 crore were routed to the accounts of four companies controlled by him out of the funds diverted from the accounts of BPSL, in the shape of advances shown to various parties.It added that Singal had conceded that the four companies — Jasmine Steel Trading, Marsh Steel, Diyajyoti Steel and Vision Steel — were promoters of BPSL that were ultimately owned and controlled by him and his family. The four companies infused Rs 3,330 crore in BPSL from 2011-12 to 2016-17.The outstanding defaulted amount by BPSL as on January 30, 2018, was Rs 47,204 crore. It is alleged that BPSL availed of loan facilities from 33 banks and financial institutions between 2007 and 2014. The lead bank was Punjab National Bank, and the loans were taken for different purposes, such as working capital, purchase of plant machinery, etc.

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IBC, GST help law firms earn over $2 billion in FY19

MUMBAI: There seems no slowdown in the business of law as the country’s legal sector has increased its fee income by more than 62% in two years at $2.1 billion, or about Rs 15,000 crore, a recent report shows.A slew of cases involving litigation on account of new laws such as Insolvency and Bankruptcy Code and the implementation of goods and service tax (GST) regime, together with robust dealmaking by India Inc, helped fill the coffers of law firms, according to London-based RSG Consulting that tracks legal markets.“The Indian sector is dynamic… It is beginning to fulfil its potential to become one of the most important legal markets in the world,” said Reena Sengupta, chief executive at RSG Consulting.The research firm publishes a report ranking Indian law firms based on number of deals, client feedback and practice areas among other things every alternate year.72250525 The estimated value of the corporate legal market — which includes approximately 100 top corporate law firms in the country plus India practices of foreign law firms – was worth $2.1 billion in FY19, up from $1.3 billion in FY17, according to its latest report released on Tuesday.Zia Mody-cofounded AZB & Partners tops the ranking, followed by Khaitan & Co, Shardul Amarchand Mangaldas (SAM & Co) and Cyril Amarchand Mangaldas (CAM).The sector’s revenues, profits and headcount are all rising more than 20% a year,” Sengupta said. “The number of returning Indian lawyers who have practised abroad shows the dynamism of the Indian legal market,” she said.Local law firms are modernising themselves to keep the growth momentum by adopting technologies, software and hiring non-legal support staff, the RSG report said.Managing partners of the top 50 domestic law firms have increased their revenues by 22% and profitability by 27% in two years, it said.Approximately two-thirds of the legal sector’s earnings, or about $1.4 billion, in FY19 came from Indian corporate clients, with about $700 million from foreign companies doing business in the country.The sector has improved client satisfaction in terms of timelines, availability and conflicts, but their satisfaction with the quality of junior associates has fallen by 6%, the report said. It estimates that firms earn around $670 million collectively from contentious work including litigation and arbitration advisories.

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Tatas pump in more to CLiQ and grow

KOLKATA: The Tata Group has infused Rs 231 crore into its three-year-old ecommerce business, Tata CLiQ, so far this fiscal and has increased authorised share capital of the venture from Rs 1,150 crore to Rs 1,500 crore indicating more funds will be infused into the business, latest regulatory filings showed.As per filings made to the Registrar of Companies (RoC) by Tata Unistore — the entity which owns and runs Tata CLiQ — it had last increased its authorised share capital a year back when it took it up from Rs 775 crore to Rs 1,150 crore.Analysts said the company is not generating enough cash to sustain itself and hence increasing the share capital.“Considering the funding requirements of the company to enable it to run its business effectively are intended to be mobilised through the issue of the equity shares of the company, the board of directors have recommended that the authorised share capital of the company to be increased from Rs 1,150 crores to Rs 1,500 crores,” Tata Unistore said in its filings.Tata Industries Ltd is the parent entity.Mohit Yadav, founder at Veratech Intelligence, which analysed Tata Unistore’s RoC filings, said exactly a year back the company increased its authorised capital and once again now in September.“The 16% hike in current CEO Vikas Purohit’s remuneration along with retention bonus shows management is content with growth. It is, therefore, safe to assume that going by the current trend, by September 2020, the Tatas will infuse around Rs 280 crore further into the company,” said Yadav.As per filings, Purohit’s annual gross remuneration in 2018-19 was Rs 1.16 crore. Tata Unistore said Purohit has extensive experience in e-commerce industry and has been instrumental in achieving the budgeted numbers for the company in FY18.In response to an email, the company’s media relation agency said the Tata Unistore spokesperson declined to offer comment.Tatas have been consistently ploughing money into the ecommerce business. In 2018-19, Tata Industries invested Rs 292 crore, Rs 224 crore was invested in FY18 and another Rs 172 crore in FY17. The business has seen losses mounting every year. As per RoC filings, Tata Unistore net losses jumped 18% to Rs 246.75 crore in 2018-19, while it more than doubled total income to Rs 110.75 crore. In FY18, Tata Unistore’s net loss was Rs 208.4 crore, while total income was Rs 41.7 crore.

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जीएसटी में 140 करोड़ रुपये की धोखाधड़ी से जुड़े रैकेट का खुलासा, एक गिरफ्तार

जीएसटी अधिकारियों ने 140 करोड़ रुपये की कर धोखाधड़ी से जुड़े रैकेट का खुलासा कर एक शख्स को गिरफ्तार किया है।

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तीन साल तक वाहन की कीमत नहीं घटा सकेंगी बीमा कंपनियां

इरडा ने कार और मोटरसाइकिल समेत सभी तरह के वाहनों की बीमा राशि तय करने के लिए वाहन की उम्र के नियमों में बदलाव का मसौदा तैयार किया है।

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Indian American Teen Choked Before Being Sexually Assaulted: Prosecutors

The teenage Indian-American university student sexually assaulted in Chicago was placed in a choke hold by the accused until she passed out, prosecutors said.

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Govt may restrict import of refined edible oils

NEW DELHI: The government is considering putting restrictions on the import of all kinds of refined edible oils while continuing to keep crude oils under the free category.This will help India encourage import of more crude oils, facilitating better utilisation of the refining capacity of the domestic industry. Currently, both refined and crude edible oils are under the free category of foreign trade, resulting in an unrestricted inflow into the country. If the proposal gets through, refined oils can be imported only after obtaining an import licence while crude oils can continue to be shipped in on the basis of the import export code, without the requirement of any kind of licences.“The need to amend the existing trade policy has arisen as the duty on both crude and refined palm oil is going to be lowered from January 1, 2020. The duties are set to go down to 37.5% from 40% on crude palm oil and to 45% from 50% on refined palm oil, effecting a low differential of 7.5 percentage points between the import duty of crude and refined palm oil.72250371 This will encourage import of refined oil, affecting the domestic oil-refining business,” said a senior consumer affairs ministry official.According to the Solvent Extractors’ Association (SEA), a trade body, the existing refining capacity in the country is around 30 million tonnes, but only 45% this is being utilised.“If refined edible oils are put in the restricted category, the import of crude oil will increase and domestic refiners will get business and in turn jobs will also be created. Currently, due to lower tariffs, refined oils are directly imported and packaged for selling in market,” SEA executive director BV Mehta said.The country imports around 15 million tonnes of edible oil a year, forking out Rs 70,000 crore.“Out of this, around 20% is refined oils and the rest is crude. If restrictions happen, only crude oil will be imported,” Mehta said.India imports only palm oil in both refined and crude forms while other edible oils like sunflower, soyabean and rapeseed are imported only in the crude form.Apart from that, the government is also weighing the food ministry’s proposal of imposing either a 10% cess or 12% integrated GST (IGST) on refined palm oil.“We have sent a proposal to the revenue department for increasing the IGST on imported crude to 12% to widen the tax gap between imported crude and refined oil. If we keep IGST on crude at the existing 5%, the gap will increase to 10%, bringing some relief for Indian refiners,” said a food ministry official.

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महाराष्ट्र : सुप्रीम फैसले ने बदली सियासी तस्वीर, उद्धव कल लेंगे मुख्यमंत्री पद की शपथ

महाराष्ट्र में महीने भर से चल रहा सियासी ड्रामा मंगलवार को रोमांचक मोड़ पर पहुंच गया। सुप्रीम कोर्ट के बुधवार को बहुमत साबित करने के आदेश के मात्र पांच घंटे बाद ही सीएम देवेंद्र फडणवीस ने राज्यपाल भगत सिंह कोश्यारी को इस्तीफा सौंप दिया।

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Mall Manager Cheated Of Rs 1.85 Lakh By Man Posing As Paytm Employee

The manager of Gurgaon's Ambience Mall was duped of Rs 1.85 lakh allegedly by a man who posed as a Paytm employee, the police said on Tuesday.

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'Fell Like House Of Cards": Congress Hits Out At BJP Over Maharashtra

The Congress and other parties on Tuesday stepped up their attack on the BJP over the political developments in Maharashtra, saying its government based on "defections" fell like a "house of cards".

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अमेरिकी समूह ने इमरान से लगाई खोखरापार-मुनाबाव सीमा दोबारा खोलने की गुहार

अमेरिका के एक समूह ने पाकिस्तान के प्रधानमंत्री इमरान खान से भारत के साथ खोखरापार-मुनाबाव सीमा को दोबारा खोलने की गुहार लगाई है।

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शिनजियांग में मुसलमानों व अल्पसंख्यकों के दमन में शामिल हैं चीनी अधिकारी : माइक पोम्पियो

अमेरिकी विदेश मंत्री माइक पोम्पियो ने कहा है कि लीक हुए दस्तावेज यह बताते हैं कि चीन के शिनजियांग क्षेत्र में मुसलमानों व अन्य अल्पसंख्यकों को क्रूरता से नजरबंद करने और व्यवस्थित दमन में चीनी अधिकारी शामिल रहे हैं।

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Indian American Killed In Attack On UN Vehicle In Kabul

An Indian-American man was killed in a terrorist attack on a UN vehicle in Kabul, US Secretary of State Mike Pompeo said on Tuesday.

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पाकिस्तान ने सुरक्षा परिषद में भारत की स्थायी और अस्थायी सदस्यता का किया विरोध

पाकिस्तान ने कश्मीर का मुद्दा उठाते हुए संयुक्त राष्ट्र सुरक्षा परिषद में भारत की स्थायी और अस्थायी सदस्यता का विरोध किया है।

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मुंबई हमले के दोषियों को न्याय के कटघरे में लाना चाहिए: अमेरिका

भारत की आर्थिक राजधानी मुंबई पर 11 साल पहले हुए आतंकी हमले की बरसी पर अमेरिका ने पीड़ितों को याद किया है।

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पहली बार सरकार में किसी पद पर बैठेगा ठाकरे परिवार का सदस्य, पूरा होगा बाला साहेब का सपना

महाराष्ट्र में महीने भर से चल रही राजनीतिक उठापटक के बाद शिवसेना, कांग्रेस और एनसीपी गठबंधन सरकार बनाएगा।

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कोश्यारी के तबादले की तैयारी, कलराज बन सकते हैं महाराष्ट्र के राज्यपाल

महाराष्ट्र के सियासी घटनाक्रम से छवि को पहुंचे नुकसान की भरपाई के लिए केंद्र सरकार राज्यपाल भगत सिंह कोश्यारी का तबादला कर सकती है।

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Probe Agency Opposes P Chidambaram's Bail Plea In Top Court

The Enforcement Directorate on Tuesday opposed in the Supreme Court the bail plea of Congress leader P Chidambaram in the INX Media money laundering case claiming that he used the "influential office"...

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सुप्रीम कोर्ट के निर्देश और तकनीकी चूक ने भी लिखी फडणवीस सरकार की विदाई की पटकथा

महाराष्ट्र में भाजपा सोमवार रात तक फडणवीस सरकार बचा लेने के प्रति आश्वस्त थे। मंगलवार को अजित पवार के टूटते ही सियासी बाजी पलट गई।

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कार्टोसेट-3 आज होगा रवाना, 13 अमेरिकी उपग्रह भी भेजे जाएंगे

आसमान में भारत की आंख कहे जाने वाले कार्टोसेट उपग्रहों की सीरीज की नवीनतम तीसरी पीढ़ी के उपग्रह कार्टोसेट-3 को आज प्रक्षेपित किया जाएगा। इसे ले जाने वाले राकेट पीएसएलवी से अमेरिका के 13 छोटे उपग्रह भी भेजे जाएंगे।

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"Chanakya" Sharad Pawar Outwits BJP, Becomes Maharashtra Man Of Match

When Sharad Pawar addressed a rain-soaked rally in Maharashtra's Satara during campaigning for the October 21 Assembly polls, few thought that the 79-year-old would be the driving force behind the new...

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Demand for CXOs bucks downtrend

New Delhi: Demand for top executives at corporate India seems to have bucked the downturn trend in the economy.Executive search firms such as Korn Ferry, EMA Partners, Transearch, Insist and Head Hunters said they are all witnessing an at least 20% increase in search mandates for CXOs over last year.The demand is primarily being driven by promoter-led firms and midsized companies, as they look for professional talent to drive their business to the next level. Another set of CXOs with digital or tech expertise is also in high demand, as companies across sectors are digitising or automating their operations.72233787 “Market matrix may not look that good but companies are not stagnant, especially in terms of leadership hiring,” said K Sudarshan, regional managing partner-Asia at EMA Partners. Apart from technology and digital, hiring in consumer and retail domain is also picking up, he said.A study carried out by staffing specialist firm Xpheno traced 100 CXO movements between April and July, confirming the trend.“The CEO movements in tech companies are due to these companies seeking top talent with technical expertise … to replace the current CEOs who are just managers,” Xpheno co-founder Kamal Karanth said.Much of the CXO demand is from mid-size firms, promoter-driven companies and startups that are well-funded, according to the findings of the study shared with ET. It shows the need to onboard senior professionals to try and influence consumer behaviours and to acquire more consumers.“There is demand all across the sectors for leadership talent,” Korn Ferry International chairman Navnit Singh said. “Some of the searches are due to performance-related exits, but most are planned.”Head Hunters India is currently involved in three searches where promoter-led companies are looking for professional talent, founder-CEO Kris Lakshminath said. On its client list are a Rs 400-crore revenue Vadodara-based manufacturer of dieselengine components that is looking for a chief executive; a Rs 500-crore rubber chemical maker in Mysuru that too is looking for a CEO and a Rs 350-crore Madurai auto ancillary company that wants to fill the position of chief financial officer.There is a regime change across companies and sectors where the old guard is giving way to new talent, said R Suresh, managing director at Insist.About 35% of the CXO movements, according to the Xpheno study, was for newly created positions, suggesting that companies are increasingly onboarding professionals to drive growth.The study, ‘CXOs on the Move-2019’, has tracked verticals like technology, media, consumer/retail, BFSI and healthcare. The exits are more than the hires in the technology vertical, as per the study. “This confirms the high demand for tech talent, especially digital,” said Xpheno’s Karanth.Some prominent hires in the last six months include Royal Enfield’s appointment of Vinod K Dasari as its CEO, Vipin Sondhi’s joining the global leadership team at Hinduja Group, Tractors & Farm Equipment’s appointment of Sandeep Sinha as its CEO and Rudratej Singh’s appointment as the president and CEO at BMW India.Other recent appointments include that of Mandar Vaidya as the CEO for Southeast Asia and the Middle East at Oyo Hotels & Homes, Abhinav Kumar as the vice president for product marketing at Paytm and Aishvarya Murali as the chief marketing officer of Ola.There has been pent-up demand for top talent for some time and now with signs of an uptick in business, companies are taking a call on the searches that had been pending, said Transearch managing partner Uday Chawla.

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Digital risk management strategy required: Deloitte India

BENGALURU: The very fabric of work is being altered because of converging demographic and technological trends leading to the rise of new social contracts, says a new publication by Deloitte India. With this shift, new risks have emerged around adopting digital technologies, managing machine-human interaction, reskilling requirements, and extension of workplace boundaries.The ‘Through the Risk Lens’ paper says that half of the workforce is likely to be millennials or gen Z workers by 2020, and by 2025, a fifth of the workforce will be contract workers. Furthermore, artificial intelligence (AI) will displace 40% of the world’s current tasks, similar disruptors will help create 1.75 million technology-enabled jobs, and more than five in 10 Indian employees will require reskilling by 2022.“In light of newer business models and how disruptive innovation is changing the way we work, regulations are failing to keep pace. These changes have expanded organisations’ risk profiles and made them more complex and dynamic,” said Johar Batterywala, risk advisory partner at Deloitte India.Organisations, as well as their risk leaders, need to focus on understanding these emerging risks and formulating a response strategy to remain relevant in this changing environment, he said.In order to lead the change and secure their businesses, organisations will need to create a digital risk management strategy to manage the third party, data leakage and cyber risks, and develop a workforce strategy (employee vs. contingent workers) aligned to overall objectives.“The onus is also on policymakers to reassess and update policies to define the gig economy, ensure access to government and societal benefits, and facilitate access to education,” said Deepa Seshadri, partner-risk advisory, Deloitte India.Companies must prioritise onboarding gig workers more efficiently and putting in place a system for uniformity in payouts, said Batterywala. There must be a collaborative approach between regulators and organisations in order to build a comprehensive strategy around dealing with the workforce of the future, he said.The paper, which has inputs from industry leaders from sectors like consumer, manufacturing, BFSI, pharma, and automotive, delves into the changes in work, regulation, extended enterprise, the current forces of disruption, the challenges it poses to the organisation, the risks that emanate from these changes and how these changes can be addressed.

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Most Aadhaar holders believe data safe, subsidies assured

NEW DELHI: Most adults in the country have an Aadhaar card and trust that their data is safe, a report by social impact advisory group Dalberg has found.Around 80% of people with an Aadhaar card also believe the unique identity has made government subsidies, such as rations and pensions, more reliable, the report, funded by the Omidyar Network India, said.It, however, also highlights that 90% of people with Aadhaar believe, incorrectly, that providing the unique identity number is mandatory for bank accounts.Around 33% of the people who have tried to update details related to their Aadhaar identity also said the process was difficult, according to the report, titled State of Aadhaar 2019. Aadhaar’s newer digital features have also yet to be embraced, it said, with nearly 77% of holders never using features such as mAadhaar, QR code, virtual Aadhaar or masked Aadhaar.The report sought to understand the usefulness of Aadhaar — launched ten years ago from Tembhli in Maharashtra — since the government’s national household data has been sketchy on its usage so far. “There is a huge opportunity for Aadhaar-enabled inclusion of vulnerable segments, whether it is enrolling the balance section of people, updation of their records or creating awareness about new features of Aadhaar, which is currently low right now. So, that is the great unfinished agenda,” Roopa Kudva, managing director of Omidyar Network India told ET.Aadhaar has been a game-changer, and is a significant feature in the lives of nearly 1.2 billion people, she added. The report points out that 95% of people have Aadhaar and use it once a month on average, while around 8% of people — an estimated 102 million people, of whom 75 million are children — still do not have the unique identity.Retired Supreme Court Justice BN Srikrishna, who was present during the launch of the report, highlighted some implementation issues with the unique identity number. He said that immediate solutions should be found to issues such as biometrics of old and poor people not being accepted. The potential linking of Aadhaar, which can be used to profile people and lead to snooping, also “worries” him, he said, adding the personal data protection Bill should be passed soon.RS Sharma, Chairman of Trai and former director general of UIDAI said, there will always be a certain percentage of people who experience issues with a new solution. “It’s a governance issue, not a technology one. And a solution is what is necessary.” He also said common service centres should be re-allowed to update Aadhaar details to address the lastmile issue “pain point”.The report also said that 30% of homeless and 27% of third-gender residents do not have Aadhaar. Also, 90% of residents in Assam and 61% of residents in Meghalaya do not have an Aadhaar card.“Almost 90% of the people trust that their data is safe with Aadhaar, but that may also be their prime concern. People worry that too many things are linked to the same number and they may lose access to it someway,” said Gaurav Gupta, partner and Asia regional director of Dalberg.One big lesson for policy makers from this report is that 95% of people who do not have Aadhaar want one, but do not know how to get it, he said. Reaching the last mile will make Aadhaar more inclusive, Gupta added. According to the report, improvements in on-the-ground processes related to Aadhaar can significantly enhance the lives of many residents. “The social safety net could be appreciably strengthened for the nation’s most vulnerable groups — such as people who have low levels of education, are homeless, or identify as third gender — by offering additional support to those who need Aadhaar but cannot acquire it,” it said.The Aadhaar updating process also needs to be streamlined. “As more services are linked to Aadhaar, easy access as well as seamless updating and authentication will become only more critical,” the report has suggested. While digital troubleshooting could be one of the options, it may not work for a substantial percentage of the population due to low digital awareness.There is also potential for Aadhaar to support greater interstate integration and portability of welfare and other services, it said.

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Indian-American Student, 19, Sexually Assaulted And Strangled In Chicago

A 19-year-old Indian-American student was sexually assaulted and then strangled in Chicago, police said about a brutal murder that has shocked the community in the United States.

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Supreme Court Decision On Maharashtra Tug-Of-War Today

The Supreme Court will today decide on a petition challenging the surprise government formation by the BJP in Maharashtra. The top court on Monday, after an 80-minute hearing, said it would give a...

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After Man Fined For Cutting Tree, US Immigration Knocks On His Door

An undocumented immigrant from Maryland is suing a state police agency whose officers turned him over to USImmigration and Customs Enforcement after writing him a ticket for improper tree removal.

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"Decide Within A Week": Court On Manu Sharma's Parole Request

The Delhi High Court on Monday asked jail authorities to decide on Jessica Lal murder convict Manu Sharma's parole request within a week.

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ONGC ends shale exploration

New Delhi: Oil and Natural Gas Corp (ONGC) has wound up its shale exploration programme mid-way after spending five years and hundreds of crores of rupees, concluding that India may not have enough commercially-extractable shale reserve.This comes as a setback to the country that had hoped to exploit its own shale rocks to augment its flagging oil and gas production, inspired by the American shale revolution that turned the United States into the largest producer of oil and gas and dramatically reshaped the global energy market this decade.ONGC recently told the government that it was ending its shale exploration programme ahead of schedule as the results hadn’t been encouraging, according to ONGC executives and government officials. It also told the government to get the country’s shale potential reassessed by a competent international agency, they said. Following this, the Oil Ministry is considering launching a new resource assessment programme for all unconventional hydrocarbons, including shale, coal bed methane and gas hydrate, they said.“The US has permian shale while India has much younger, tertiary shale. The US shale rocks are brittle and so easier to hydrofrack while those in India are elastic with more clay content, resulting in little yield from fracking,” said an executive. “The general assessment after drilling wells and data analysis was that it may not be a productive idea to sink more capital into shale projects.”India’s search for exploitable shale was marred not just by poor geology but also by the absence of an ecosystem needed to support such innovative efforts, executives said, pointing towards the lack of regulatory support, limited access to research, tech and services.In 2013, the Oil Ministry had permitted the exploration of shale by ONGC and Oil India in three phases of three years each. ONGC had to carry out exploration activities in 175 blocks, including 50 blocks in the first phase. Oil India’s responsibility included 5 blocks in each phase. Some private players have contemplated but not yet begun shale exploration.ONGC’s exploration programme ended in the first phase itself with ONGC drilling about 26 wells in three hydrocarbon basins of Cambay, KG and Assam-Arakan - spread over Gujarat, Andhra Pradesh and Assam- at a cost of Rs 600-700 crore, executives said. ONGC had to give up its plans of drilling in the fourth basin of Cauvery in the face of strong resistance to shale activities by Tamil Nadu politicians, according to executives.Just about a fourth of the wells drilled were exclusively for shale while others overlapped with conventional wells. In overlapping cases, the company dug deeper to explore shale into an already-planned conventional well– this meant shared cost and risk.Past estimates of India’s shale reserves vary widely from ONGC’s 187 trillion cubic feet (TCF) of shale gas in 5 basins to US Energy Information Administration’s 584 TCF of shale gas and 87 billion barrels of shale oil in 4 basins, and oilfield services provider Schlumberger’s 300 to 2100 TCF gas.A new official assessment in alliance with an international agency may bring a clearer picture on shale reserves. A thrust on research and development and strong incentives to services and technology companies to set up base in India will encourage creation of advanced knowledge and help exploration, executives said.

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OnePlus probes breach; payment data secure

NEW DELHI: Chinese handset maker OnePlus has said it is working with authorities to further investigate a system breach that resulted in unauthorised access to certain information of users such as names, contact numbers, email and shipping addresses.In a statement to ET, India’s leading premium segment smartphone player, however, said “all payment information, passwords, and accounts are safe”.“OnePlus has notified impacted users that we have discovered some of their order information was accessed by an unauthorised party. We took immediate steps to stop the intruder and reinforce security. Before making this public, we informed our impacted users by email,” the company said. It added that it will work to prevent such incidents.Vikas Agarwal, general manager at OnePlus India, told ET the company is in the process of shifting its data to Amazon Web Services India servers from Singapore. Agarwal, however, did not offer comments if Indian authorities have been informed about the breach or the quantum of users affected in India.Cyber law expert Pavan Duggal said once the company finds a cybersecurity breach, it is mandated under Indian law to report it to CERTIN, India’s nodal agency for cybersecurity. “Nonreporting is an offence, and the top management can face consequences… The company must have a legal response approach and strategy to start addressing these challenges as they emerge,” he said.This is the second time since 2018 where One-Plus has been exposed to a data security breach. Last year, it confirmed over 40,000 customers had been affected by exposure of bank card details.72233487 OnePlus recently cemented its premium leadership in the July-September quarter with 35% market share, growing 95% on year, as per Counterpoint Research’s third-quarter data. The player witnessed its highest ever recorded shipment sales—0.74 million—in the third quarter, which was also the highest recorded shipment by a premium smartphone brand in the last three years.Duggal said most companies tend not to report such breaches to Indian authorities. “The onus is on company what all processes and procedures they have undertaken under Indian IT Act prior to breach.”“If a user finds data gone, then he/she can sue the company for unlimited damages under Section 43A of the IT Act. Also, the user can file criminal charges against company because when the user gives data, law requires intermediary to holds it in trust,” Duggal added.

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Google Fires 4 Employees. Workers Allege Freewheeling Culture Stifled

Google announced Monday it had fired four employees for what it said were violations of its policies around accessing and sharing internal documents and calendars, amid rising tensions over what some...

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Karan Johar Tweets 'Game Of Thrones' Moment From International Emmys

Karan Johar's excitement spilled onto Twitter, who shared a photo of the meeting and wrote: "Honoured to have met Game Of Thrones' prolific producers!"

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Foxconn awaits export duty clarity for expansion in India

NEW DELHI: The recent World Trade Organization (WTO) ruling asking India to roll back its export sops scheme has put New Delhi in a “spot,” said the India managing director of Foxconn, the world’s largest contract manufacturer.Josh Foulger told ET that Foxconn’s plans to expand its manufacturing capabilities in India — to make more ecosystem devices, such as Internet of Things products — would depend on further clarity from the government on the new duty relief scheme for exports announced in September.The new Remission of Duties or Taxes on Export Products (RoDTEP) scheme is slated to replace the existing Merchandise Exports from India Scheme (MEIS).“The big question is the MEIS, which might get rolled back after the WTO ruling. It has put the government in a spot,” Foulger told ET. “India Cellular and Electronics Association (ICEA) is following up with the government … we are one of the larger players in India and are looking forward to a positive direction from the government.” He said the government was proactively seeking inputs from the industry, and Foxconn had already provided its views through the ICEA.New Delhi has challenged the ruling. The government’s interest is to make for the world, which is good for the local industry, said Foulger, adding: “Hopefully, consultations will yield good results to make the economics work.” 72233323 MEIS provides for a duty credit scrip of 4% on exports, but it is unclear whether the RoDTEP scheme would provide the same dispensation, or will it expand or reduce it.Since India wants to raise the level of exports, companies need clarity on whether it will offer better incentives or tax relief to promote local companies and global companies operating in India.Foxconn, the largest manufacturer of iPhones, also makes handsets for the likes of Xiaomi and HMD (Nokia-branded phones) and had a lion's share of India’s contract market last year at 63%, according to Counterpoint Research.Foulger said a lot of the company’s decisions would depend on the future and features of the RoDTEP scheme, which would allow the company to drive ‘mobile-plus’ capacity. “We will look at all possible opportunities to support our customers,” Foulger said, when asked about expanding its manufacturing beyond smartphones.He added the next 36 months would be crucial for the country in terms of technology with the emergence of Internet of Things, Big Data and artificial intelligence. “Mobile phones and all ecosystem products will be propelled by 5G,” he said.Foxconn recently expanded its facility to help Xiaomi address the rising demand for its phones in the country.“The relationship between us (Foxconn-Xiaomi) is a very close relationship. If there is any opportunity for close synergy, we will explore it. However, the core is around the smartphone,” Muralikrishnan B, chief operating officer, Xiaomi India, told ET.“In the recent past, corporate tax reduction is something in the right direction. The ease of doing business has improved. Not only do we see progress on the policy front, but also on the ground, changes with different state governments … it is very synergistic to enable manufacturing,” said Foulger.

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