General Affairs
Jammu and Kashmir: 28 oil tankers damaged, oil companies approach state government
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"Following the unrest in Kashmir after Hizbul Mujahideen Commander Burhan Wani's killing, 28 oil tankers have been damaged in violent mob attacks," Oil companies told Jammu and Kashmir government today.
Anan Sharma, President, J&K Petroleum Tankers Association said that usually about three hundred tankers of petrol and diesel are loaded for Kashmir Valley and Ladhak region from the main petrol depot in Jammu, but after the threat to drivers not more than two dozen tankers are dispatched.
Divisional Commissioner of Kashmir Baseer Khan confirmed that Hindustan Petroleum, Bharat Petroleum and Indian Oil have filed a written plea stating that their tankers are being attacked in the Kashmir valley.
"The oil companies have informed that 28 tankers have been damaged in attacks by violent mobs and it has become difficult for them to operate amid prevailing law and order situation," he said.
Khan said the oil companies have been assured of adequate security by the state government to ensure uninterrupted fuel supply to Kashmir.
"We have asked the oil companies to ensure adequate supply of fuel to Kashmir and have assured them of security as well," he said.
Khan also sought people's cooperation in ensuring hassle-free movement of oil tankers to Kashmir.
"Following the unrest in Kashmir after Hizbul Mujahideen Commander Burhan Wani's killing, 28 oil tankers have been damaged in violent mob attacks," Oil companies told Jammu and Kashmir government today.
Anan Sharma, President, J&K Petroleum Tankers Association said that usually about three hundred tankers of petrol and diesel are loaded for Kashmir Valley and Ladhak region from the main petrol depot in Jammu, but after the threat to drivers not more than two dozen tankers are dispatched.
Divisional Commissioner of Kashmir Baseer Khan confirmed that Hindustan Petroleum, Bharat Petroleum and Indian Oil have filed a written plea stating that their tankers are being attacked in the Kashmir valley.
Anan Sharma, President, J&K Petroleum Tankers Association said that usually about three hundred tankers of petrol and diesel are loaded for Kashmir Valley and Ladhak region from the main petrol depot in Jammu, but after the threat to drivers not more than two dozen tankers are dispatched.
Divisional Commissioner of Kashmir Baseer Khan confirmed that Hindustan Petroleum, Bharat Petroleum and Indian Oil have filed a written plea stating that their tankers are being attacked in the Kashmir valley.
"The oil companies have informed that 28 tankers have been damaged in attacks by violent mobs and it has become difficult for them to operate amid prevailing law and order situation," he said.
Khan said the oil companies have been assured of adequate security by the state government to ensure uninterrupted fuel supply to Kashmir.
"We have asked the oil companies to ensure adequate supply of fuel to Kashmir and have assured them of security as well," he said.
Khan also sought people's cooperation in ensuring hassle-free movement of oil tankers to Kashmir.
Does Supreme Court expect us to break handis on table: Raj Thackeray
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Maharashtra Navnirman Sena (MNS) supremo Raj Thackeray today slammed the Supreme Court for its verdict on the Dahi Handi ritual of the Janmashtami festival and said that courts should not interfere in festivals.
"The court has begun to poke their nose in every other thing. Why should we have elections then? Let the courts run the government," Raj Thackeray said.
The MNS chief's remarks came a day after the apex court said that youths below the age of 18 would not be allowed to participate in the Dahi Handi ritual of the Janmashtami festival in Maharashtra and also capped the height of the human pyramid to 20 feet.
Thackeray said that the court's order only reflected the failure of the state government.
"Does the court expect us to break handis on a table instead? CM Fadnavis said that he felt bad about the decision but what does that mean? The state government did not even provide a proper lawyer to fight the case," he said.
The MNS chief also accused courts of targeting Hindu festivals while showing leniency to other religious festivals.
Flouting the court's order, the MNS chief, in a statement issued later, directed his men to celebrate the festival in the usual manner and to go ahead with the four-tier pyramid. Thackeray's men also formed a pyramid outside his residence and made a young fellow climb on top of it.
Maharashtra Navnirman Sena (MNS) supremo Raj Thackeray today slammed the Supreme Court for its verdict on the Dahi Handi ritual of the Janmashtami festival and said that courts should not interfere in festivals.
"The court has begun to poke their nose in every other thing. Why should we have elections then? Let the courts run the government," Raj Thackeray said.
The MNS chief's remarks came a day after the apex court said that youths below the age of 18 would not be allowed to participate in the Dahi Handi ritual of the Janmashtami festival in Maharashtra and also capped the height of the human pyramid to 20 feet.
Thackeray said that the court's order only reflected the failure of the state government.
"Does the court expect us to break handis on a table instead? CM Fadnavis said that he felt bad about the decision but what does that mean? The state government did not even provide a proper lawyer to fight the case," he said.
The MNS chief also accused courts of targeting Hindu festivals while showing leniency to other religious festivals.
Flouting the court's order, the MNS chief, in a statement issued later, directed his men to celebrate the festival in the usual manner and to go ahead with the four-tier pyramid. Thackeray's men also formed a pyramid outside his residence and made a young fellow climb on top of it.
Amnesty International 'bypassing' Indian laws to procure funds since 2000?
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Even as Amnesty International is facing sedition charges for allegedly raising anti-India slogans at an event in Bengaluru recently, the government is in the process of asking Amnesty International India to register itself under the Foreign Contribution Regulation Act (FCRA), as preliminary inquiry found that the organisation was "bypassing" laws to procure foreign funds in the last 16 years.
RECEIVED HUGE AMOUNTS IN FUNDS
During preliminary inquiry, the official said that the Home Ministry found that Amnesty has received GBP 3,52,057 and Rs 1,75,03,226 in four separate instalments since 2000 without registering under the FCRA.
"As per procedure, all NGOs whose expenses are Rs 10 lakhs or more in three preceding years, have to register under the FCRA. But Amnesty has not applied for the FCRA registration yet. We are going to tell them to register under the FCRA first," a senior officer told India today.
EARLIER REFUSED TO REGISTER UNDER FCRA
Amnesty International had issued a release in 2014 and 2015 saying that it would not to register under the FCRA as the act "was, and is, a much-abused law, and NGOs have experienced the unfairness of of it both in the bureaucratic sense of inordinate delays..." Amnesty has registered as a non-profit organisation in the name of Amnesty International South Asia Foundation on May 8, 2015.
As per officials of the Ministry of Home Affairs, Amnesty International has been registered in 1966 as a charitable trust but has not been registered under the Foreign Contribution Regulatory Act which came into effect in 1976. It was repealed in 2010. Amnesty believes FCRA is a tool to harass NGOs.
BENGALURU SEDITION INCIDENT
In the Bengaluru event organised by Amnesty, anti-India slogans were allegedly raised during a discussion on Kashmir on Saturday, prompting the authorities to book the NGO under various IPC sections including sedition. Amnesty, on its part, has rejected these allegations as baseless.
Even as Amnesty International is facing sedition charges for allegedly raising anti-India slogans at an event in Bengaluru recently, the government is in the process of asking Amnesty International India to register itself under the Foreign Contribution Regulation Act (FCRA), as preliminary inquiry found that the organisation was "bypassing" laws to procure foreign funds in the last 16 years.
RECEIVED HUGE AMOUNTS IN FUNDS
During preliminary inquiry, the official said that the Home Ministry found that Amnesty has received GBP 3,52,057 and Rs 1,75,03,226 in four separate instalments since 2000 without registering under the FCRA.
"As per procedure, all NGOs whose expenses are Rs 10 lakhs or more in three preceding years, have to register under the FCRA. But Amnesty has not applied for the FCRA registration yet. We are going to tell them to register under the FCRA first," a senior officer told India today.
EARLIER REFUSED TO REGISTER UNDER FCRA
Amnesty International had issued a release in 2014 and 2015 saying that it would not to register under the FCRA as the act "was, and is, a much-abused law, and NGOs have experienced the unfairness of of it both in the bureaucratic sense of inordinate delays..." Amnesty has registered as a non-profit organisation in the name of Amnesty International South Asia Foundation on May 8, 2015.
As per officials of the Ministry of Home Affairs, Amnesty International has been registered in 1966 as a charitable trust but has not been registered under the Foreign Contribution Regulatory Act which came into effect in 1976. It was repealed in 2010. Amnesty believes FCRA is a tool to harass NGOs.
BENGALURU SEDITION INCIDENT
In the Bengaluru event organised by Amnesty, anti-India slogans were allegedly raised during a discussion on Kashmir on Saturday, prompting the authorities to book the NGO under various IPC sections including sedition. Amnesty, on its part, has rejected these allegations as baseless.
Now dubbed a threat, Zakir Naik was once provided security by Mumbai Police
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The Mumbai Police Special Branch report has indicted Islamic televangelist Zakir Naik for spreading communal hatred and glorifying terrorism. The Special Branch have asked the state government's law and judiciary department to guide them if his speeches can be banned, and if any action can be taken under the Unlawful Activities Prevention Act (UAPA) against the preacher. But sources reveal that the same Mumbai Police had provided protection to Naik five years ago.
NAIK'S CONTROVERSIAL CONFERENCES IRKED UNDERWORLD
Zakir Naik was known to Mumbai for the peace conferences he used to organise at Somaiyya Ground in Mumbai's Chunabhatti area. Mumbai Police's current report has mentioned that through these conferences, he has made around 400 conversions. The last such conference happened in 2011, after which the controversial nature of his meetings made it difficult for Naik to get permission to hold them. One of his conferences brought upon Naik the ire of the underworld.
In 2011, Naik received a threatning call from underworld gangster Ravi Pujari after his peace conference. Ravi Pujari was trying to proclaim himself as a Hindu 'Deshbhakt' don and was threatening those he considered 'anti national.' Film director Mahesh Bhatt had also been a victim of threats from Ravi Pujari's gang in the past.
NAIK GIVEN PROTECTION BY MUMBAI POLICE
Scared, Naik approached then Home Minister RR Patil for help and received security cover from the Mumbai Police for a few days till the threat died down.
Naik never complained about the threatening calls again, but his movements were restricted for a few months due to this threat. Surprisingly, when Naik's controversy came to light after the Bangladesh terror attack, Satypal Singh, BJP MP and former Police Commissioner of Mumbai (2012-13) had claimed that during his tenure, a report was given by the Mumbai Police to the then state government regarding Zakir Naik and his activities, but the government did not initiate any action.
NAIK'S CONTROVERSIAL CONFERENCES IRKED UNDERWORLD
Zakir Naik was known to Mumbai for the peace conferences he used to organise at Somaiyya Ground in Mumbai's Chunabhatti area. Mumbai Police's current report has mentioned that through these conferences, he has made around 400 conversions. The last such conference happened in 2011, after which the controversial nature of his meetings made it difficult for Naik to get permission to hold them. One of his conferences brought upon Naik the ire of the underworld.
In 2011, Naik received a threatning call from underworld gangster Ravi Pujari after his peace conference. Ravi Pujari was trying to proclaim himself as a Hindu 'Deshbhakt' don and was threatening those he considered 'anti national.' Film director Mahesh Bhatt had also been a victim of threats from Ravi Pujari's gang in the past.
NAIK GIVEN PROTECTION BY MUMBAI POLICE
Scared, Naik approached then Home Minister RR Patil for help and received security cover from the Mumbai Police for a few days till the threat died down.
Naik never complained about the threatening calls again, but his movements were restricted for a few months due to this threat. Surprisingly, when Naik's controversy came to light after the Bangladesh terror attack, Satypal Singh, BJP MP and former Police Commissioner of Mumbai (2012-13) had claimed that during his tenure, a report was given by the Mumbai Police to the then state government regarding Zakir Naik and his activities, but the government did not initiate any action.
Curfew not enough in Kashmir, CM Mehbooba wants to starve people: National Conference
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The National Conference (NC) today lashed out at Chief Minister Mehbooba Mufti and the PDP-BJP government for their brazen and shameless attempts to prevent essential food commodities from reaching parts of Srinagar. The NC also condemned the curbs announced on distribution of fuel to petrol pumps.
"As if the wanton killing and maiming of our youth was not enough to satiate her appetite for tyranny, Mehbooba Mufti is now supervising a systemic, well-planned policy of an embargo on essential commodities and rations to persecute the people into submission", NC State Spokesperson Junaid Mattu said.
"We are shocked and sickened at the ghastly murder of a young lecturer in Khrew, Pampore last night. This narrative of arrogance and ignorance from the central and the state government, coupled with an increased sense of impunity, has emboldened brutality against civilians to an extent where a young lecturer has been beaten to death," he added.
The spokesperson also said that cases like those in the last few days, including the barbaric point-blank shooting of an ATM guard at Chattabal, followed by the targeted killing of a youth in Batamaloo, failed to awaken the dead conscience of the CM and her allies and has also failed to attract the attention of the PM towards Kashmir.
"We express our heartfelt condolences and solidarity with the families of these young men who have lost their lives. Their loss is unimaginable", the NC Spokesperson said.
Junaid Mattu also condemned the intimidation and harassment of Amnesty International after an event held in Bangalore.
"The intimidation of Amnesty International is by no means an attribute or measure of patriotism. This fully patronized harassment of Amnesty International depicts the fascist and intolerant narrative that is thriving under a central government that finds its succor in jingoism and autocracy. If Amnesty International can be booked for a law as archaic and regressive as sedition in the present day and age, one can only dread the imminent elimination of transparency and freedom of speech in the country. This churlish, intolerant behavior goes against the very fabric of the Constitution. The prime minister shouldn't allow this narrative to flourish - its long term implications will be disastrous", the NC spokesperson said.
Mattu also expressed serious concern over the safety and security of Kashmiri students studying outside the state and said it was the CM's responsibility to take all possible measures to ensure their safety and well-being.
"Mehbooba Mufti should take some time from the frequent practice of putting one's foot in one's mouth at every possible opportunity and call all chief ministers and also exert pressure on her allies in New Delhi to ensure no Kashmiri student is harassed or intimidated. Her failure to call the Chattisgarh chief minister on time over the case of a young Kashmiri professional in Chattisgarh booked in a case of sedition over a Facebook post has emboldened fascist fringe groups and communal organizations across the Country. These groups are now issuing public warnings to Kashmiri students. The onus lies on the chief minister to act and till now her characteristic inaction has cast a shadow of insecurity over our students studying outside the state", the NC Spokesperson added.
"The curb on distribution of fuel is outrageous and will pose enormous difficulties to Hajjis, patients and attendants as well as doctors who have to reach hospitals. That the CM has chosen to do something as atrocious as this after more than a month of curfew speaks volumes about her state of mind. If she wants to torture people into submission - she is grossly mistaken and also a very poor student of history. Mass repression against civilians will worsen the situation and bring with it an enormous risk of public revolt that goes beyond the scope of the traditional operational containment," he added.
The National Conference (NC) today lashed out at Chief Minister Mehbooba Mufti and the PDP-BJP government for their brazen and shameless attempts to prevent essential food commodities from reaching parts of Srinagar. The NC also condemned the curbs announced on distribution of fuel to petrol pumps.
"As if the wanton killing and maiming of our youth was not enough to satiate her appetite for tyranny, Mehbooba Mufti is now supervising a systemic, well-planned policy of an embargo on essential commodities and rations to persecute the people into submission", NC State Spokesperson Junaid Mattu said.
"We are shocked and sickened at the ghastly murder of a young lecturer in Khrew, Pampore last night. This narrative of arrogance and ignorance from the central and the state government, coupled with an increased sense of impunity, has emboldened brutality against civilians to an extent where a young lecturer has been beaten to death," he added.
The spokesperson also said that cases like those in the last few days, including the barbaric point-blank shooting of an ATM guard at Chattabal, followed by the targeted killing of a youth in Batamaloo, failed to awaken the dead conscience of the CM and her allies and has also failed to attract the attention of the PM towards Kashmir.
"We express our heartfelt condolences and solidarity with the families of these young men who have lost their lives. Their loss is unimaginable", the NC Spokesperson said.
Junaid Mattu also condemned the intimidation and harassment of Amnesty International after an event held in Bangalore.
"The intimidation of Amnesty International is by no means an attribute or measure of patriotism. This fully patronized harassment of Amnesty International depicts the fascist and intolerant narrative that is thriving under a central government that finds its succor in jingoism and autocracy. If Amnesty International can be booked for a law as archaic and regressive as sedition in the present day and age, one can only dread the imminent elimination of transparency and freedom of speech in the country. This churlish, intolerant behavior goes against the very fabric of the Constitution. The prime minister shouldn't allow this narrative to flourish - its long term implications will be disastrous", the NC spokesperson said.
Mattu also expressed serious concern over the safety and security of Kashmiri students studying outside the state and said it was the CM's responsibility to take all possible measures to ensure their safety and well-being.
"Mehbooba Mufti should take some time from the frequent practice of putting one's foot in one's mouth at every possible opportunity and call all chief ministers and also exert pressure on her allies in New Delhi to ensure no Kashmiri student is harassed or intimidated. Her failure to call the Chattisgarh chief minister on time over the case of a young Kashmiri professional in Chattisgarh booked in a case of sedition over a Facebook post has emboldened fascist fringe groups and communal organizations across the Country. These groups are now issuing public warnings to Kashmiri students. The onus lies on the chief minister to act and till now her characteristic inaction has cast a shadow of insecurity over our students studying outside the state", the NC Spokesperson added.
"The curb on distribution of fuel is outrageous and will pose enormous difficulties to Hajjis, patients and attendants as well as doctors who have to reach hospitals. That the CM has chosen to do something as atrocious as this after more than a month of curfew speaks volumes about her state of mind. If she wants to torture people into submission - she is grossly mistaken and also a very poor student of history. Mass repression against civilians will worsen the situation and bring with it an enormous risk of public revolt that goes beyond the scope of the traditional operational containment," he added.
Business Affairs
Market Morning Brief: What you must know before opening bell rings on Dalal Street
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Arun Jaitley on Thursday said he will soon let us know about who the next RBI governor will be. In US another key Federal Reserve policymaker commented rate hike in September makes sense, joining the chorus of hawks. Overnight, oil prices rose above $50, while at home update on SBI merger with its subsidiaries will hog the limelight.
Here is a wrap-up of all of this and more that you must know to start your trading day:
- Fed hawks vs doves: San Francisco Federal Reserve Bank President John Williams joined a growing chorus of his colleagues signaling support for a US interest rate hike in coming months, saying that waiting too long could be costly for the economy. New York Fed President William Dudley and Atlanta Fed President Dennis Lockhart had also made the case that the US economy is in good shape and that the Fed should consider policy tightening.
- US labour market shows firm trend: The number of Americans filing for unemployment benefits fell more than expected last week, reinforcing views of labour market strength that could encourage the Federal Reserve to raise interest rates soon. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 262,000 for the week ended August 13, the Labor Department said.
- Oil prices: Brent crude prices jumped above $50 per barrel in Thursday's trade in a bull-run that has lifted the market by over 20 per cent since early August. The prices dipped slightly in today's trade, but hovered near two-month highs.
- Rajan's successor: A senior aide to Prime Minister Narendra Modi said he was "expected to make up his mind very soon" on replacing Raghuram Rajan. "We will let you know when we decide," Jaitley told reporters as he returned to the finance ministry from a meeting with Modi. "You will come to know the conclusion, not the process," said Jaitley.
- SBI merger: Country's largest lender State Bank of India on Thursday approved the merger of associate banks with itself. The bank announced a share swap scheme that gives investors more value for their holdings.
Arun Jaitley on Thursday said he will soon let us know about who the next RBI governor will be. In US another key Federal Reserve policymaker commented rate hike in September makes sense, joining the chorus of hawks. Overnight, oil prices rose above $50, while at home update on SBI merger with its subsidiaries will hog the limelight.
Here is a wrap-up of all of this and more that you must know to start your trading day:
- Fed hawks vs doves: San Francisco Federal Reserve Bank President John Williams joined a growing chorus of his colleagues signaling support for a US interest rate hike in coming months, saying that waiting too long could be costly for the economy. New York Fed President William Dudley and Atlanta Fed President Dennis Lockhart had also made the case that the US economy is in good shape and that the Fed should consider policy tightening.
- US labour market shows firm trend: The number of Americans filing for unemployment benefits fell more than expected last week, reinforcing views of labour market strength that could encourage the Federal Reserve to raise interest rates soon. Initial claims for state unemployment benefits dropped 4,000 to a seasonally adjusted 262,000 for the week ended August 13, the Labor Department said.
- Oil prices: Brent crude prices jumped above $50 per barrel in Thursday's trade in a bull-run that has lifted the market by over 20 per cent since early August. The prices dipped slightly in today's trade, but hovered near two-month highs.
- Rajan's successor: A senior aide to Prime Minister Narendra Modi said he was "expected to make up his mind very soon" on replacing Raghuram Rajan. "We will let you know when we decide," Jaitley told reporters as he returned to the finance ministry from a meeting with Modi. "You will come to know the conclusion, not the process," said Jaitley.
- SBI merger: Country's largest lender State Bank of India on Thursday approved the merger of associate banks with itself. The bank announced a share swap scheme that gives investors more value for their holdings.
Vodafone launches unlimited calling plan starting Rs 1,699
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Telecom operator Vodafone on Thursday launched unlimited mobile phone calling plan on 3G and 4G post-paid customers at starting price of Rs 1,699 per month.
"The postpaid customer's usage behaviour has evolved significantly with higher usage of roaming and data. With the new Vodafone RED, we are offering our postpaid customers an all-in-one plan that addresses their roaming, data, and voice needs comprehensively," Vodafone India Director-Commercial Sandeep Kataria said in a statement.
Under the Rs 1,699 plan, Vodafone customers will get free incoming calls while roaming, unlimited voice calling and 6 GB of 3G or 4G data.
Telecom operator Vodafone on Thursday launched unlimited mobile phone calling plan on 3G and 4G post-paid customers at starting price of Rs 1,699 per month.
"The postpaid customer's usage behaviour has evolved significantly with higher usage of roaming and data. With the new Vodafone RED, we are offering our postpaid customers an all-in-one plan that addresses their roaming, data, and voice needs comprehensively," Vodafone India Director-Commercial Sandeep Kataria said in a statement.
Under the Rs 1,699 plan, Vodafone customers will get free incoming calls while roaming, unlimited voice calling and 6 GB of 3G or 4G data.
SBI approves merger with associate banks
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Country's largest lender State Bank of India on Thursday approved the merger of associate banks with itself. Here are five things to know about the merger.
- "The Central Board of Directors of the State Bank of India have accorded their approval to the Scheme of Acquisition of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT) and Bharatiya Mahila Bank Limited (BMBL) by State Bank of India (the Scheme) under Section 35 of the State Bank of India Act, 1955, subject to approval of the Scheme by Reserve Bank of India and Government of India," the bank said in a statement.
- The proposed merger will likely create one of the largest lenders in Asia.
- The latest merger will create a financial behemoth with assets worth Rs 37 lakh crore ($550 billion), including the fixed assets of associate banks worth about Rs 4,000 crore.
- SBI alone has close to 16,500 branches, including 191 foreign offices, spread across 36 countries.
- Earlier too, SBI has merged two of its erstwhile associate banks with itself - Bank of Saurashtra in 2008 and State Bank of Indore in 2010.
Country's largest lender State Bank of India on Thursday approved the merger of associate banks with itself. Here are five things to know about the merger.
- "The Central Board of Directors of the State Bank of India have accorded their approval to the Scheme of Acquisition of State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT) and Bharatiya Mahila Bank Limited (BMBL) by State Bank of India (the Scheme) under Section 35 of the State Bank of India Act, 1955, subject to approval of the Scheme by Reserve Bank of India and Government of India," the bank said in a statement.
- The proposed merger will likely create one of the largest lenders in Asia.
- The latest merger will create a financial behemoth with assets worth Rs 37 lakh crore ($550 billion), including the fixed assets of associate banks worth about Rs 4,000 crore.
- SBI alone has close to 16,500 branches, including 191 foreign offices, spread across 36 countries.
- Earlier too, SBI has merged two of its erstwhile associate banks with itself - Bank of Saurashtra in 2008 and State Bank of Indore in 2010.
FM Arun Jaitley says no decision yet on next RBI governor
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No decision has yet been reached to appoint next central bank governor, Finance Minister Arun Jaitley said on Thursday amid mounting expectations that a replacement will be chosen soon to replace Raghuram Rajan.
"We will let you know when we decide," Jaitley told reporters as he returned to the finance ministry from what aides said was a meeting with Prime Minister Narendra Modi. "You will come to know the conclusion, not the process."
No decision has yet been reached to appoint next central bank governor, Finance Minister Arun Jaitley said on Thursday amid mounting expectations that a replacement will be chosen soon to replace Raghuram Rajan.
"We will let you know when we decide," Jaitley told reporters as he returned to the finance ministry from what aides said was a meeting with Prime Minister Narendra Modi. "You will come to know the conclusion, not the process."
Brent oil prices dip on US profit taking, but trades above $50
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Brent crude oil prices dipped in early Asian trading hours on Friday, but remained near two-month highs with Brent still holding above $50 per barrel in a bull-run that has lifted the market by over 20 per cent since early August.
International benchmark Brent crude oil futures were trading at $50.80 per barrel at 8.56 p.m. ET, down 9 cents from their last close.
The lower prices during early Asian hours - which is late the previous day in the Americas due to the time zone difference - continues a trend this week in which prices have tended to dip during Asian mornings/American evenings, only to turn stronger once the Americas returns the next day and Asia logs off.
Traders said the dips during Asian hours were largely due to profit taking in the Americas following sharp price increases during the day there.
Brent on Thursday rose above $50 a barrel for the first time since June 24 in a sharp bull-run which has seen prices soar over 20 per cent since early August.
However, analysts warned the rally was overblown, especially since planned talks between the Organization of the Petroleum Exporting Countries (OPEC) and other major producers like Russia to rein in on ballooning overproduction were unlikely to lead to a reduced supply overhang.
"Some believe - or more appropriately, hope - that the OPEC may come up with a plan to support prices at its informal meeting next month, something which we doubt will happen," said Fawad Razaqzada, a market analyst at Forex.com.
In US oil markets, prices were pushed up by an open arbitrage opportunity to export WTI to Europe, leading to a rush of new orders which lifted US oil prices.
US West Texas Intermediate (WTI) crude futures, were at $48.28 a barrel, up 6 cents.
Brent crude oil prices dipped in early Asian trading hours on Friday, but remained near two-month highs with Brent still holding above $50 per barrel in a bull-run that has lifted the market by over 20 per cent since early August.
International benchmark Brent crude oil futures were trading at $50.80 per barrel at 8.56 p.m. ET, down 9 cents from their last close.
The lower prices during early Asian hours - which is late the previous day in the Americas due to the time zone difference - continues a trend this week in which prices have tended to dip during Asian mornings/American evenings, only to turn stronger once the Americas returns the next day and Asia logs off.
Traders said the dips during Asian hours were largely due to profit taking in the Americas following sharp price increases during the day there.
Brent on Thursday rose above $50 a barrel for the first time since June 24 in a sharp bull-run which has seen prices soar over 20 per cent since early August.
However, analysts warned the rally was overblown, especially since planned talks between the Organization of the Petroleum Exporting Countries (OPEC) and other major producers like Russia to rein in on ballooning overproduction were unlikely to lead to a reduced supply overhang.
"Some believe - or more appropriately, hope - that the OPEC may come up with a plan to support prices at its informal meeting next month, something which we doubt will happen," said Fawad Razaqzada, a market analyst at Forex.com.
In US oil markets, prices were pushed up by an open arbitrage opportunity to export WTI to Europe, leading to a rush of new orders which lifted US oil prices.
US West Texas Intermediate (WTI) crude futures, were at $48.28 a barrel, up 6 cents.
General Awareness
BARC develops cost effective kit for onsite determination of Cr (VI)
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Bhabha Atomic Research Centre has developed a simple, user friendly, quick and cost effective kit for onsite determination of Cr (VI), which meets IS10500 as well as EPA criterion. It provides the much needed solution to measure the level of Chromium contamination in drinking water and tap water, lakes, rivers as well as ground water. The procedure involves adding a specified amount of specific reagents to the water sample and identifying the developed color.
About Chromium :
- Chromium is widely used in various industries like leather, steel, chrome plating, paint manufacturing, wood preservation etc. Untreated effluents from these industries cause widespread contamination of water as been reported in several parts of the country.
- Chromium in the environment primarily exists as Trivalent Chromium Cr (III) and Hexavalent Chromium Cr (VI). The later is toxic and the World Health Organization has classified it as carcinogenic and can cause stomach ulcers and cancers and severe damage to kidneys and liver.
- As per Indian standard IS10500 for drinking water, the maximum permissible concentration of Cr (VI) in drinking water is 50 microgram per liter. The US Environmental Protection Agency (EPA) recommends a still lower permissible concentration of 10 microgram per liter.
- Detection of Cr(VI) at such low levels is not only technically challenging but also expensive and time consuming since it involves collection of water samples from affected areas, transport to laboratory, storage and finally analysis. The method can be used for limited water samples with errors due to conversion of Cr (III) to Cr (VI) and vice versa during transport and storage.
About BARC :
- The Bhabha Atomic Research Centre (BARC) is India’s premier nuclear research facility based in Trombay, Mumbai, Maharashtra. BARC is a multi-disciplinary research centre with extensive infrastructure for advanced research and development covering the entire spectrum of nuclear science, engineering and related areas.
- BARC’s core mandate is to sustain peaceful applications of nuclear energy, primarily for power generation. It manages all facets of nuclear power generation, from theoretical design of reactors,computerized modeling and simulation, risk analysis, development and testing of new reactor fuel materials, etc.
- It also conducts research in spent fuel processing, and safe disposal of nuclear waste. Its other research focus areas are applications for isotopes in industries, medicine, agriculture, etc. BARC operates a number of research reactorsacross the country.
Bhabha Atomic Research Centre has developed a simple, user friendly, quick and cost effective kit for onsite determination of Cr (VI), which meets IS10500 as well as EPA criterion. It provides the much needed solution to measure the level of Chromium contamination in drinking water and tap water, lakes, rivers as well as ground water. The procedure involves adding a specified amount of specific reagents to the water sample and identifying the developed color.About Chromium :- Chromium is widely used in various industries like leather, steel, chrome plating, paint manufacturing, wood preservation etc. Untreated effluents from these industries cause widespread contamination of water as been reported in several parts of the country.
- Chromium in the environment primarily exists as Trivalent Chromium Cr (III) and Hexavalent Chromium Cr (VI). The later is toxic and the World Health Organization has classified it as carcinogenic and can cause stomach ulcers and cancers and severe damage to kidneys and liver.
- As per Indian standard IS10500 for drinking water, the maximum permissible concentration of Cr (VI) in drinking water is 50 microgram per liter. The US Environmental Protection Agency (EPA) recommends a still lower permissible concentration of 10 microgram per liter.
- Detection of Cr(VI) at such low levels is not only technically challenging but also expensive and time consuming since it involves collection of water samples from affected areas, transport to laboratory, storage and finally analysis. The method can be used for limited water samples with errors due to conversion of Cr (III) to Cr (VI) and vice versa during transport and storage.
About BARC :- The Bhabha Atomic Research Centre (BARC) is India’s premier nuclear research facility based in Trombay, Mumbai, Maharashtra. BARC is a multi-disciplinary research centre with extensive infrastructure for advanced research and development covering the entire spectrum of nuclear science, engineering and related areas.
- BARC’s core mandate is to sustain peaceful applications of nuclear energy, primarily for power generation. It manages all facets of nuclear power generation, from theoretical design of reactors,computerized modeling and simulation, risk analysis, development and testing of new reactor fuel materials, etc.
- It also conducts research in spent fuel processing, and safe disposal of nuclear waste. Its other research focus areas are applications for isotopes in industries, medicine, agriculture, etc. BARC operates a number of research reactorsacross the country.
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