Diamond merchant Nirav Modi. Photo: MintNew Delhi:The government has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of Punjab National Bank, Union minister P.P. Against the backdrop of multi-agency probe into the case, Chaudhary said that some Nirav Modi firms filing for bankruptcy in the US would jeopardise the interests of Punjab National Bank. “Since the investigation against Nirav Modi led firms ie. The Serious Fraud Investigation Office is probing 107 companies and seven limited liability partnerships (LLPs) linked to Nirav Modi and Mehul Choksi groups with regard to the scam.
April 22, 2018 08:15 UTC
Photo: MintNew Delhi: After moving the insolvency authority in the US, Punjab National Bank (PNB) has raised heat by approaching Hong Kong court against billionaire jeweller Nirav Modi, who is accused of a Rs13,000 crore fraud. Hong Kong authorities have been approached and recovery writ has been filed against companies of Nirav Modi, the official said without disclosing other details. While Hong Kong is part of the People’s Republic of China, it is an autonomous region with its own laws. On 23 March, India’s ministry of external affairs had requested authorities in Hong Kong to arrest Modi in connection with the alleged fraud from PNB. It seeks to confiscate properties of economic offenders like Nirav Modi who have left the country to avoid facing criminal prosecution.
April 22, 2018 07:52 UTC
Reigning world champion Justin Gatlin clocked 10.05 seconds to win his season opening 100 metre race at the Grenada Invitational track meet on Saturday. The 36-year-old American beat out runner-up Isiah Young, who finished in 10.11 seconds, while Mike Rodgers ran 10.17 as Americans swept all three podium spots at the Kirani James Stadium. Gatlin missed competing in the inaugural Grenada meet last year because of an injury. READ | National Anti-Doping Agency chief bats for ‘no needle policy’Gatlin, who was twice suspended for doping, upset the legendary Usain Bolt to claim the 100 metre title at the 2017 World Championships. Last month, he competed at the Athletix Grand Prix in South Africa where he finished fourth in the 150 metres behind winner Anaso Jobodwana.
April 22, 2018 07:41 UTC
Congress leader Milind Deora. Photo: Hindustan TimesMumbai:As a counter to BJP’s policies, the Congress party will come out with its own social and economic narrative as part of its determined effort to wrest power in next year’s Lok Sabha polls. While revealing this, Congress leader Milind Deora said his party will also need to stitch together an alliance that will not only help it win the elections but work on a long-term basis too. “We have to come up with a counter-narrative to the BJP and Narendra Modi,” said the young leader. And on multiple fronts—economic front, social front and foreign policy front—there have been failures, some serious, some not so serious failures,” the Congress leader said.
April 22, 2018 07:18 UTC
NEW DELHI: Prime Minister Narendra Modi on Sunday appealed to everyone to work together to mitigate the menace of climate change as a way to pay tribute to the environment on Earth Day Earth Day, a global event, is observed on April 22 every year. "On Earth Day, let us reaffirm our commitment towards creating a better planet for our future generations. Let us work together to mitigate the menace of climate change. This would be a great tribute to our beloved Mother Earth," Modi said in a tweet.In another tweet, the Prime Minister said: "I compliment all those individuals and organisations who are working towards promoting harmony with nature and ensuring sustainable development. "On the occasion of Earth Day, people usually take out rallies, sign petitions, meet their elected officials, plant trees, clean up their towns, and roads in several parts of the world.This year, Earth Day will focus on mobilising the world to end plastic pollution, including creating support for a global effort to eliminate single-use plastics along with global regulation for disposal of plastics.
April 22, 2018 07:18 UTC
An Islamic State suicide bomber killed at least 48 people including women and children and wounded 112 outside a voter registration centre in the Afghan capital Kabul on Sunday in the latest attack on election preparations. A woman shouts and cries at a hospital after she lost her son in a suicide attack on a voter registration center in Kabul, Afghanista. An Afghan security forces member stands guard at the site of a suicide bomb attack in Kabul, Afghanistan April 22, 2018. Militants on Friday launched rockets at a voter registration centre in the northwestern province of Badghis. On Tuesday gunmen attacked a voter registration centre in the central province of Ghor, kidnapping three election workers and two policemen.
April 22, 2018 07:04 UTC
There has been an upswing in switching jobs swiftly and aggressively in last 16 years, especially by the millennial workforce in technical roles like data scientists, software engineers and product managers, according to a study. Millennials these days are more ambitious, restless and are less afraid to take chances because of so many options at hand, a study by global predictive outbound hiring solution provider Belong has revealed. "People are hopping jobs in search of larger ownership and learning opportunities. The belief in the world of open source and internet is that learning happens while doing more things. "In 2016, 58 per cent of software engineers quit within two years of working at a company.
April 22, 2018 06:56 UTC
A reporter was shot and killed during a live broadcast from an area of Nicaragua roiled by violent anti-government protests this week, local media reported on Saturday night. Gahona was describing a damaged cash machine while videoing with his phone as a cameraman filmed behind him. The shot ended his commentary, sending Gahona tumbling down the steps in front of the building. Nicaraguan media said Gahona, who was described as a journalist from the area, died from his injuries. Guido of the Red Cross could not confirm any new total, saying only that she was aware of more deaths.
April 22, 2018 06:56 UTC
Photo: MintNew Delhi: Homegrown auto major Tata Motors saw its market share in commercial vehicles (CVs) segment in the domestic market inch closer to 44% in 2017-18 riding on its turnaround strategy which aims at regaining lost ground to rivals. In terms of market share, Tata Motors increased it to 43.95% in FY18 from 42.79% in FY17. “FY18 has been landmark year for the CV business of Tata Motors. The execution of sales enhancement, rigorous cost reduction and timely product launches, delivered quick results on CV volumes, market share grew and bottom-line improved during the year, he added. In the light CV category, Tata Motors posted a growth of 33% in FY18 at 2,08,443 units as against 1,56,719 units in FY17.
April 22, 2018 06:33 UTC
Most of the educational institutions were closed for four days in last seven days and some institutions could remain closed on Monday as well. Fearing massive protests, the universities have also postponed the scheduled examinations last week.“Report should go to the concerned district administration as well. However, in Anantnag, Shopian, Bandipora and Sopore, police and para-military forces, fired pellets and tear smoke canisters at protesting students, during which several students including females were injured and police made few arrests as well. As per the government data more than 250 protests in solidarity with Kathua rape and murder victim were reported for past two weeks.“We use force whenever the protests turn violent. The candle light marches and group protests demanding justice for Kathua victim are reported from across the Valley.
April 22, 2018 06:11 UTC
NEW DELHI: Total deposits in Jan Dhan accounts crossed Rs 80,000 crore mark with more people joining the flagship financial inclusion programme, according to official data.The deposits, which have been steadily rising since March 2017, were at Rs 80,545.70 crore on April 11, 2018, said a finance ministry data. Pradhan Mantri Jan-Dhan Yojana (PMJDY) accounts had come into focus during the demonetisation period when the deposits witnessed a meteoric rise.The latest report of the World Bank titled Global Findex Report, 2017 released last week cited the success of the Jan Dhan Yojana India's financial inclusion efforts have won recognition from the World Bank as their data indicate that 55 per cent of new bank accounts opened are from India, Financial Services Secretary Rajiv Kumar had said.The deposits increased in the later part of November 2016 to over Rs 74,000 crore from about Rs 45,300 in the beginning of the month as people rushed to deposit the scrapped currency notes of Rs 500 and Rs 1,000, as per the government data.Thereafter, deposits in the accounts dipped before picking up again in a steady manner from March 2017.It increased to Rs 73,878.73 crore in December 2017 , to Rs 75,572 crore in February 2018 and further to Rs 78,494 crore last month.The number of people joining the financial inclusion programme too is on rise.The number of account holders increased to 31.45 crore on April 11, 2018 from 26.5 crore at the beginning of 2017. As per the data, the number of such account holders was 25.51 crore on November 9, 2016, the day demonetisation came into effect.Director-Business Services of AISECT Abhishek Pandit said the impact of note ban on Jan Dhan accounts can be gauged from the fact that "the average deposits in such accounts operating through our banking kiosks stood at Rs 480 per account before demonetisation, which increased to Rs 1,095 per account after that".AISECT has set up over 1,400 banking kiosks across rural and semi-urban India to promote financial inclusion.Launched in August 2014, PMJDY is a national mission for financial inclusion to ensure access to financial services - banking/ savings & deposit accounts, remittance, credit, insurance , pension.As per the Global Findex Report, adult bank account holders in India increased to 80 per cent in 2017 as compared to 53 per cent in 2014 and 35 per cent in 2011, Kumar had said.Women at the forefront, he said, highlights a sharp fall in gender gap from 20 per cent in 2014 to 6 per cent in 2017 in bank accounts due to government's efforts.The report acknowledges impact of government policy in reducing gaps in bank account ownership between rich and poor to 5 per cent in 2017, down from 15 per cent in 2014, he added.The report noted the rapid increase in financial inclusion that has taken place in India and how the number of account holders in the country has risen from 35 per cent of the adults in 2011 and 53 per cent in 2014 to 80 per cent in 2017.
April 22, 2018 06:00 UTC
Photo: BloombergNew Delhi: Idea Cellular Ltd’s proposal to allow up to 100% foreign direct investment (FDI) in the company is under consideration of the Department of Industrial Policy and Promotion (DIPP), an official said. The proposal assumes significance against the backdrop of pending merger of Idea Cellular Ltd and Vodafone India to form the country’s largest telecom operator. While British telecom multinational Vodafone Group Plc is a majority shareholder in Vodafone India. The telecommunications department is awaiting the views of the DIPP on raising FDI limit in Idea Cellular Ltd to 100%, before approving its merger with Vodafone India. “Only FDI clearance for Idea is pending before the proposed merger with Vodafone (India) can go through,” another government official said.
April 22, 2018 06:00 UTC
"It's a dialogue of the deaf," complained one European envoy. "I want to fix this deal. That's the objective," he told US lawmakers concerned that he might push for war. "If there is no chance to fix it, I'll recommend to the president we do our level best to work with our allies to achieve a better outcome and better deal. Even after May 12th, even after May 12th, there's still much diplomatic work to be done.
April 22, 2018 05:48 UTC
NEW DELHI : Mere protests over heinous crimes like rape are not enough and work is needed on the ground to ensure the safety of women, according to the newly appointed head of Ficci Ladies Organisation FLO ). "We need to work towards it. May be talk to the ministry and to the people concerned who are already doing a lot of work. "Speaking about her plans to expand the network of the FLO, Reddy said: "The chapter I really want to start is the Srinagar one. But we need to work on it.
April 22, 2018 05:48 UTC