General Affairs
IMA calls off Maharashtra doctors' strike after CM Devendra Fadnavis 'enough is enough' warning
-
The Indian Medical Association (IMA) has called off doctor's strike in Maharashtra after a meeting with Chief Minister Devendra Fadnavis. CM Fadnavis met IMA representatives at Vidhan Bhavan in Mumbai where they were briefed about the steps the government has taken to ensure the safety of doctors in hospitals.
Fadnavis told IMA representatives that more security has been provided in 16 hospitals since Thursday, and the government will make more arrangements in next 10 days.
Fadnavis, who on Thursday appealed resident doctors to call off their strike, had said in the Assembly today that 'enough was enough' and that continuing the strike despite assurances was totally insensitive.
"Patients are suffering and people are getting annoyed. Attacks on doctors are wrong, but if despite the written assurances from the government they continue the strike they are being insensitive," he said.
"Enough is enough, we are willing to request them, but if they do not call off their strike, we will take legal action. Why shouldn't we? If they do not agree to the request, the government will not sit back with folded hands," he had added.
Meanwhile, the Bombay High Court warned Maharashtra Association of Resident Doctors (MARD) that if they do not file an affidavit by 3 pm today, it will initiate contempt proceedings against the association's president and secretary.
The court also reprimanded MARD and doctors for not complying with the orders and for not resuming their duties.
Further, Advocate General Rohit Deo told the court that the state government will wait till 6 pm today for the doctors to resume work, and if they don't then action will be taken against them.
The Indian Medical Association (IMA) has called off doctor's strike in Maharashtra after a meeting with Chief Minister Devendra Fadnavis. CM Fadnavis met IMA representatives at Vidhan Bhavan in Mumbai where they were briefed about the steps the government has taken to ensure the safety of doctors in hospitals.
Fadnavis told IMA representatives that more security has been provided in 16 hospitals since Thursday, and the government will make more arrangements in next 10 days.
Fadnavis, who on Thursday appealed resident doctors to call off their strike, had said in the Assembly today that 'enough was enough' and that continuing the strike despite assurances was totally insensitive.
"Patients are suffering and people are getting annoyed. Attacks on doctors are wrong, but if despite the written assurances from the government they continue the strike they are being insensitive," he said.
"Enough is enough, we are willing to request them, but if they do not call off their strike, we will take legal action. Why shouldn't we? If they do not agree to the request, the government will not sit back with folded hands," he had added.
Meanwhile, the Bombay High Court warned Maharashtra Association of Resident Doctors (MARD) that if they do not file an affidavit by 3 pm today, it will initiate contempt proceedings against the association's president and secretary.
The court also reprimanded MARD and doctors for not complying with the orders and for not resuming their duties.
Further, Advocate General Rohit Deo told the court that the state government will wait till 6 pm today for the doctors to resume work, and if they don't then action will be taken against them.
EVM tampering issue: Supreme Court wants Election Commission's reply within 4 weeks
-
The Supreme Court today sought a reply from the Election Commission over a Public Interest Litigation (PIL) alleging that the Electronic Voting Machines (EVMs) can be tampered with.
The top court has asked the central poll panel to file its reply over the PIL within four weeks.
The plea sought examination of the "quality, software/ malware and hacking effect in the EVMs from a reliable electronic lab/scientist and software expert and to file their report before this court for further action/prosecution".
In his PIL, advocate M L Sharma has also sought a direction to the Centre for registering an FIR to investigate the alleged tempering of EVMs "for vested interest by the political party and to file their report before the apex court".
The petitioner referred to allegations of EVM tampering in the recent Assembly elections in five states and Maharashtra civic polls.
The PIL claimed that it was admitted by the poll panel itself that EVMs are tamper proof only until their technical, mechanical and software details remain a secret.
"These details can be detected via reverse engineering by any expert. Wireless device/software can be prepared via reverse engineering, and with their help voting records can be changed in any location and at any time," the plea claimed.
LEADERS QUESTION EVMs
Leaders like Bahujan Samaj Party (BSP) chief Mayawati and Aam Aadmi Party's Arvind Kejriwal had raised questions over use of EVMs after their respective parties suffered humiliating loss in recent Assembly elections in five states.
Moments after election results were announced on March 11, Mayawati claimed large scale rigging alleging that the EVMs were tampered with. Mayawati charged that the BJP victory in U.P. polls smacks of 'dishonesty' and 'fraud'.
The BSP, which had 80 MLAs in the outgoing Assembly, managed to win just 19 seats in the 403-member House.
Delhi CM Arvind Kejriwal also raised questions over the credibility of EVMs after AAP, which several exit polls suggested had a handsome chance of forming government in Punjab, won just 20 seats in the 117-seat state Assembly.
"Supreme court in its judgment had said that EVM machines are not 100 per cent tamper proof. Various developed countries have also banned use of EVM machines in elections. There are evidences hinting that EVM machines were tempered. Allegations made by various people must be probed," Kejriwal had said while urging the Election Commission to use ballot paper system instead of the EVMs in the upcoming MCD polls in Delhi.
The Supreme Court today sought a reply from the Election Commission over a Public Interest Litigation (PIL) alleging that the Electronic Voting Machines (EVMs) can be tampered with.
The top court has asked the central poll panel to file its reply over the PIL within four weeks.
The plea sought examination of the "quality, software/ malware and hacking effect in the EVMs from a reliable electronic lab/scientist and software expert and to file their report before this court for further action/prosecution".
In his PIL, advocate M L Sharma has also sought a direction to the Centre for registering an FIR to investigate the alleged tempering of EVMs "for vested interest by the political party and to file their report before the apex court".
The petitioner referred to allegations of EVM tampering in the recent Assembly elections in five states and Maharashtra civic polls.
The PIL claimed that it was admitted by the poll panel itself that EVMs are tamper proof only until their technical, mechanical and software details remain a secret.
"These details can be detected via reverse engineering by any expert. Wireless device/software can be prepared via reverse engineering, and with their help voting records can be changed in any location and at any time," the plea claimed.
LEADERS QUESTION EVMs
Leaders like Bahujan Samaj Party (BSP) chief Mayawati and Aam Aadmi Party's Arvind Kejriwal had raised questions over use of EVMs after their respective parties suffered humiliating loss in recent Assembly elections in five states.
Moments after election results were announced on March 11, Mayawati claimed large scale rigging alleging that the EVMs were tampered with. Mayawati charged that the BJP victory in U.P. polls smacks of 'dishonesty' and 'fraud'.
The BSP, which had 80 MLAs in the outgoing Assembly, managed to win just 19 seats in the 403-member House.
Delhi CM Arvind Kejriwal also raised questions over the credibility of EVMs after AAP, which several exit polls suggested had a handsome chance of forming government in Punjab, won just 20 seats in the 117-seat state Assembly.
"Supreme court in its judgment had said that EVM machines are not 100 per cent tamper proof. Various developed countries have also banned use of EVM machines in elections. There are evidences hinting that EVM machines were tempered. Allegations made by various people must be probed," Kejriwal had said while urging the Election Commission to use ballot paper system instead of the EVMs in the upcoming MCD polls in Delhi.
Yogi Adityanath's UP: Crackdown on illegal slaughtering is priority, says chief secretary
-
Top bureaucrat in the Yogi Adityanath government of Uttar Pradesh has told the state officials that under the new BJP government crackdown on illegal cattle slaughtering is priority.
UP chief secretary Rahul Bhatnagar has directed District Magistrates and Senior Superintendents of Police to check illegal slaughtering and transportation of cattle as it a "government priority". The letter was issued today by the office of chief secretary.
Bhatnagar has instructed the state officials that the slaughter houses in all 75 districts should be inspected and strict action should be taken wherever needed. Local intelligence should be used for this purpose, Bhatnagar said in his letter.
CHIEF SECRETARY DETAILS PLAN
"Information related to illegal slaughtering in past five years should be analysed and routes of transportation should be shortlisted and surprise checking should be initiated on that," Bhatnagar said.
"Cattle smugglers should be listed in village crime notebook and those involved in such acts in the past should be taken care of", the top official's missive said.
The names of cattle smugglers will be listed in village crime notebooks, intelligence gathered on their activities and a vigil maintained on Uttar Pradesh's borders, according to the latest directive of the Yogi Adityanath government to district officials.
ANTI-ILLEGAL SLAUGHTERING DRIVE IS ON
A massive drive against illegal slaughterhouses is already on in Uttar Pradesh where over 50 persons had been arrested and 27 FIRs were registered for such offences till yesterday.
In his letter to district officials, Bhatnagar stressed that an eye should be kept on cattle fairs, information related to cattle traders should be collected and compiled besides UP's borders should be checked for cattle smuggling.
The state's top bureaucrat cited various laws pertaining to slaughtering and prevention of cruelties on animals as he directed officials to go full steam against illegal abattoirs.
Closing down of illegal slaughter houses in UP was on top of BJP's agenda and after Yogi Adityanath took over as Chief Minister, the state machinery has launched a massive crackdown.
"The drive is continuing in the entire state to check cattle smuggling and illegal slaughter houses," Additional Superintendent of Police (ASP), DGP headquarter, Rahul Srivastav said.
Top bureaucrat in the Yogi Adityanath government of Uttar Pradesh has told the state officials that under the new BJP government crackdown on illegal cattle slaughtering is priority.
UP chief secretary Rahul Bhatnagar has directed District Magistrates and Senior Superintendents of Police to check illegal slaughtering and transportation of cattle as it a "government priority". The letter was issued today by the office of chief secretary.
Bhatnagar has instructed the state officials that the slaughter houses in all 75 districts should be inspected and strict action should be taken wherever needed. Local intelligence should be used for this purpose, Bhatnagar said in his letter.
CHIEF SECRETARY DETAILS PLAN
"Information related to illegal slaughtering in past five years should be analysed and routes of transportation should be shortlisted and surprise checking should be initiated on that," Bhatnagar said.
"Cattle smugglers should be listed in village crime notebook and those involved in such acts in the past should be taken care of", the top official's missive said.
The names of cattle smugglers will be listed in village crime notebooks, intelligence gathered on their activities and a vigil maintained on Uttar Pradesh's borders, according to the latest directive of the Yogi Adityanath government to district officials.
ANTI-ILLEGAL SLAUGHTERING DRIVE IS ON
A massive drive against illegal slaughterhouses is already on in Uttar Pradesh where over 50 persons had been arrested and 27 FIRs were registered for such offences till yesterday.
In his letter to district officials, Bhatnagar stressed that an eye should be kept on cattle fairs, information related to cattle traders should be collected and compiled besides UP's borders should be checked for cattle smuggling.
The state's top bureaucrat cited various laws pertaining to slaughtering and prevention of cruelties on animals as he directed officials to go full steam against illegal abattoirs.
Closing down of illegal slaughter houses in UP was on top of BJP's agenda and after Yogi Adityanath took over as Chief Minister, the state machinery has launched a massive crackdown.
"The drive is continuing in the entire state to check cattle smuggling and illegal slaughter houses," Additional Superintendent of Police (ASP), DGP headquarter, Rahul Srivastav said.
NSA Ajit Doval meets US counterpart, reviews security situation in South Asia
-
National security advisor Ajit Doval met US NSA Lieutenant General HR McMaster in Washington DC today. Both reviewed the security situation in south Asia.
They discussed the terror situation in the region. US has appreciated India's effort to fight terror. McMaster called India the major stabilizing factor in the region. He expressed confidence in Modi's efforts to fight terror.
After this, Doval will meet us defence secretary James Mattis. The Mattis-Doval meeting would be one of the highest-level meetings between the two countries after Donald Trump assumed presidency on January 20.
India's ties with the US gained momentum towards the end of Barack Obama administration.
US and India, last year signed a bilateral Logistics Exchange Memorandum of Agreement (LEMOA) that will give the militaries of the two countries access to each other's facilities for supplies and repairs.
Last year US had declared India a major defence partner. The designation, according to a US-India joint statement issued during Carter's visit to New Delhi in December, is a status unique to India and institutionalises the progress made to facilitate defence trade and technology-sharing with India to a level at par with the US' closest allies and partners. It is clear that India is a very strong security partner and a force in the region.
National security advisor Ajit Doval met US NSA Lieutenant General HR McMaster in Washington DC today. Both reviewed the security situation in south Asia.
They discussed the terror situation in the region. US has appreciated India's effort to fight terror. McMaster called India the major stabilizing factor in the region. He expressed confidence in Modi's efforts to fight terror.
After this, Doval will meet us defence secretary James Mattis. The Mattis-Doval meeting would be one of the highest-level meetings between the two countries after Donald Trump assumed presidency on January 20.
India's ties with the US gained momentum towards the end of Barack Obama administration.
US and India, last year signed a bilateral Logistics Exchange Memorandum of Agreement (LEMOA) that will give the militaries of the two countries access to each other's facilities for supplies and repairs.
Last year US had declared India a major defence partner. The designation, according to a US-India joint statement issued during Carter's visit to New Delhi in December, is a status unique to India and institutionalises the progress made to facilitate defence trade and technology-sharing with India to a level at par with the US' closest allies and partners. It is clear that India is a very strong security partner and a force in the region.
Private Member's Bill seeking 100 days of Parliament sittings introduced in Rajya Sabha
-
At a time when public cynicism about the country's parliamentarians is at an all time high, there is one MP, who believes that the members of Parliament need to work much harder.
He is Naresh Gujral, the Akali Dal MP in the Rajya Sabha. Gujral believes that Parliament needs to meet more often than it does now.
Gujral has tabled a private member's Bill, the Parliament Enhancement of Productivity Bill, asking for Parliament to must meet at least for 100 days a year.
The Bill could not have come at a more opportune moment. Adjournments are fast becoming a norm rather than an aberration. Complete sessions have been washed out without transacting any business inside the Houses and outside a Shiv Sena MP has made the news for beating up an Air India official.
Gujral's Bill, if adopted by the government, could go some distance in not only making Parliament a lot more productive but it will also help redeem the MPs in the eye of the public.
WHY THE BILL IS SIGNIFICANT
In addition to making it mandatory for Parliament to sit at least for a hundred days a year, spread over four sessions, it also calls for the convening of a special session of both houses for fifteen days.
The special session as envisaged by Gujral will not have either the question hour or the zero hour but will be devoted exclusively to taking up two issues of utmost public importance.
It has a provision for each political party submitting at least two issues before the business advisory committee that it wants to be taken up in the special session.
Significantly at a time when both Houses of Parliament are routinely adjourned or unable to transact any business on account of disruptions. The bill has a provision for compensating the hours lost due to disruptions by adding it to the number of hours that the Houses must sit to make up for the disruptions.
Gujral's Bill is silent on the need to deprive the MP's of their allowances on the days that the house is adjourned due to disruptions.
WHAT HAPPENED OVER THE YEARS
In the years after its inception in 1952, Parliament used to meet for 100-120 days a year. Sadly, over the years there has been a steady decline in the number of days that Parliament meets. The number of days it meets now is down to 70-80.
The government must adopt the Bill and ensure its passage for it to become law. The jury is still out on whether this Bill will be able to muster up the majority support in both Houses of Parliament, but Gujral's Bill is certainly an idea whose time has come.
At a time when public cynicism about the country's parliamentarians is at an all time high, there is one MP, who believes that the members of Parliament need to work much harder.
He is Naresh Gujral, the Akali Dal MP in the Rajya Sabha. Gujral believes that Parliament needs to meet more often than it does now.
Gujral has tabled a private member's Bill, the Parliament Enhancement of Productivity Bill, asking for Parliament to must meet at least for 100 days a year.
The Bill could not have come at a more opportune moment. Adjournments are fast becoming a norm rather than an aberration. Complete sessions have been washed out without transacting any business inside the Houses and outside a Shiv Sena MP has made the news for beating up an Air India official.
Gujral's Bill, if adopted by the government, could go some distance in not only making Parliament a lot more productive but it will also help redeem the MPs in the eye of the public.
WHY THE BILL IS SIGNIFICANT
In addition to making it mandatory for Parliament to sit at least for a hundred days a year, spread over four sessions, it also calls for the convening of a special session of both houses for fifteen days.
The special session as envisaged by Gujral will not have either the question hour or the zero hour but will be devoted exclusively to taking up two issues of utmost public importance.
It has a provision for each political party submitting at least two issues before the business advisory committee that it wants to be taken up in the special session.
Significantly at a time when both Houses of Parliament are routinely adjourned or unable to transact any business on account of disruptions. The bill has a provision for compensating the hours lost due to disruptions by adding it to the number of hours that the Houses must sit to make up for the disruptions.
Gujral's Bill is silent on the need to deprive the MP's of their allowances on the days that the house is adjourned due to disruptions.
WHAT HAPPENED OVER THE YEARS
In the years after its inception in 1952, Parliament used to meet for 100-120 days a year. Sadly, over the years there has been a steady decline in the number of days that Parliament meets. The number of days it meets now is down to 70-80.
The government must adopt the Bill and ensure its passage for it to become law. The jury is still out on whether this Bill will be able to muster up the majority support in both Houses of Parliament, but Gujral's Bill is certainly an idea whose time has come.
Business Affairs
Black Money: 54 chartered accountants,company secretaries under I-T scanner in New Delhi
-
Almost 54 chartered accountants and company secretaries have come under the radar of the Income Tax department and the Enforcement Directorate over money laundering through shell companies, say India Today's sources.
The professionals will soon face the ire of ED over the laundering of around Rs 11,000 crore. ED on Tuesday arrested two people Virendra and Surendra Jain in connection with the case.
The department will soon interrogate others and will likely to take action under provisions of the Money Laundering Act.
Meanwhile, Prime Minister Narendra Modi's crackdown on black money hoarders will see another critical juncture on March 31 when the window to declare unaccounted money under the Pradhan Mantri Garib Kalyan Yojna (PMGKY) closes this month.
PMGKY is an amnesty scheme under which one can disclose unaccounted cash and deposits, and avoid punishment by paying 50 per cent of the disclosed amount as tax, and depositing 25 per cent in an interest-free scheme for four years.
The Income Tax department today published advertisements in national newspapers urging black money hoarders to come clean within the specified time frame.
The department has warned that those black money holders who do not declare their illegal assets under the PMGKY scheme will " regret later".
The department has promised "confidentiality" for those who come forward to disclose their illegal wealth. The I-T department has warned that they have "information" about those who have stashed black money.
Almost 54 chartered accountants and company secretaries have come under the radar of the Income Tax department and the Enforcement Directorate over money laundering through shell companies, say India Today's sources.
The professionals will soon face the ire of ED over the laundering of around Rs 11,000 crore. ED on Tuesday arrested two people Virendra and Surendra Jain in connection with the case.
The department will soon interrogate others and will likely to take action under provisions of the Money Laundering Act.
Meanwhile, Prime Minister Narendra Modi's crackdown on black money hoarders will see another critical juncture on March 31 when the window to declare unaccounted money under the Pradhan Mantri Garib Kalyan Yojna (PMGKY) closes this month.
PMGKY is an amnesty scheme under which one can disclose unaccounted cash and deposits, and avoid punishment by paying 50 per cent of the disclosed amount as tax, and depositing 25 per cent in an interest-free scheme for four years.
The Income Tax department today published advertisements in national newspapers urging black money hoarders to come clean within the specified time frame.
The department has warned that those black money holders who do not declare their illegal assets under the PMGKY scheme will " regret later".
The department has promised "confidentiality" for those who come forward to disclose their illegal wealth. The I-T department has warned that they have "information" about those who have stashed black money.
SAIL, BSNL, Air India worst performing PSUs in FY16: Survey
-
Coal India, ONGC and Indian Oil Corp emerged as star financial performers among India's central public sector enterprises in 2015-16, whereas SAIL, BSNL and Air India incurred most losses, a government survey has showed.
The Public Enterprises Survey, tracking the performance of CPSEs in 2015-16, revealed that the top three loss-making CPSEs -- SAIL, BSNL and Air India -- incurred a loss equal to 51.65 per cent of the total loss made by the top 10 loss-making CPSEs in 2015-16. SAIL entered the list of top 10 loss-making CPSEs, apart from ONGC Videsh, Rashtriya Ispat Nigam, PEC and BHEL.
Mangalore Refinery and Petrochemicals, STCL, Fertilizers and Chemicals (Travancore), Air India Engineering Services and Hindustan Fertilisers Corporation went to the profit zone in 2015-16.
The most profitable PSUs-Coal India, ONGC and IOC-contributed 17.82, 17.45 and 11.34 per cent, respectively, to the total profit earned by the top 10 profit-making CPSEs during the year, the survey tabled in Parliament revealed.
Hindustan Fertilizer Corporation and Mahanadi Coalfields entered the list of top 10 profit-making CPSEs, whereas NMDC and South Eastern Coalfields made their exit. The top 10 profit-making companies accounted for 63.46 per cent of the total profits made by all (165) CPSEs during the year. The top 10 loss-making companies claimed 79.81 per cent of the total losses made by all the 78 CPSEs during the year.
Coal India, ONGC and Indian Oil Corp emerged as star financial performers among India's central public sector enterprises in 2015-16, whereas SAIL, BSNL and Air India incurred most losses, a government survey has showed.
The Public Enterprises Survey, tracking the performance of CPSEs in 2015-16, revealed that the top three loss-making CPSEs -- SAIL, BSNL and Air India -- incurred a loss equal to 51.65 per cent of the total loss made by the top 10 loss-making CPSEs in 2015-16. SAIL entered the list of top 10 loss-making CPSEs, apart from ONGC Videsh, Rashtriya Ispat Nigam, PEC and BHEL.
Mangalore Refinery and Petrochemicals, STCL, Fertilizers and Chemicals (Travancore), Air India Engineering Services and Hindustan Fertilisers Corporation went to the profit zone in 2015-16.
The most profitable PSUs-Coal India, ONGC and IOC-contributed 17.82, 17.45 and 11.34 per cent, respectively, to the total profit earned by the top 10 profit-making CPSEs during the year, the survey tabled in Parliament revealed.
Hindustan Fertilizer Corporation and Mahanadi Coalfields entered the list of top 10 profit-making CPSEs, whereas NMDC and South Eastern Coalfields made their exit. The top 10 profit-making companies accounted for 63.46 per cent of the total profits made by all (165) CPSEs during the year. The top 10 loss-making companies claimed 79.81 per cent of the total losses made by all the 78 CPSEs during the year.
Banking stocks lead gains post FM Arun Jaitley's statement on NPAs resolution
-
Banking stocks led the gains in market on Friday after Finance Minister Arun Jaitley said his ministry and the Reserve Bank of India have taken a major policy decision on dealing with non performing assets (NPAs) of banks.
"The government and the RBI have taken a policy decision on dealing with NPAs...we will announce the decision in a few days," Jaitley said at the Indian Business Leader Awards organised by CNBC-TV18 in New Delhi. A decision to this effect is expected to be announced soon.
The resolution being worked out with the RBI will put enough pressure on borrowers to settle dues, Jaitley added.
He blamed the bad loans of public sector banks on just 30-50 companies, saying accounts of these will have to be fixed to solve the issue.
While Bank Nifty rose more than 1 percent or 217 points to 21113 level, the BSE Bankex was the top sectoral gainer rising 245 points to 24014 level.
Except Kotak Mahindra Bank, all components on the BSE Bankex were trading in the green. Bank of Baroda (2.65 percent) and ICICI Bank (2.25 percent) were the top gainers.
The Bank Nifty closed 227 points higher at 21,122.55 level. The BSE Bankex also closed 291 points higher at 24061 level.
As on September 30, 2016 gross NPAs of public sector banks rose to Rs 6,30,323 crore as against Rs 5,50,346 crore by June end. This represents an increase of Rs 79,977 crore on quarter on quarter basis. To clean up balance sheet, the government has announced plans to recapitalise the PSU banks.
According to the Finance Ministry data, the NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India.
Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank (Rs 31,466 crore), Indian Overseas Bank (Rs 31,073 crore), Union Bank of India (Rs 27,891 crore), IDBI Bank (Rs 25,973 crore), Central Bank of India (Rs 25,718 crore), Allahabad Bank (Rs 18,852 crore) and Oriental Bank of Commerce (Rs 18,383 crore).
Banking stocks led the gains in market on Friday after Finance Minister Arun Jaitley said his ministry and the Reserve Bank of India have taken a major policy decision on dealing with non performing assets (NPAs) of banks.
"The government and the RBI have taken a policy decision on dealing with NPAs...we will announce the decision in a few days," Jaitley said at the Indian Business Leader Awards organised by CNBC-TV18 in New Delhi. A decision to this effect is expected to be announced soon.
The resolution being worked out with the RBI will put enough pressure on borrowers to settle dues, Jaitley added.
He blamed the bad loans of public sector banks on just 30-50 companies, saying accounts of these will have to be fixed to solve the issue.
While Bank Nifty rose more than 1 percent or 217 points to 21113 level, the BSE Bankex was the top sectoral gainer rising 245 points to 24014 level.
Except Kotak Mahindra Bank, all components on the BSE Bankex were trading in the green. Bank of Baroda (2.65 percent) and ICICI Bank (2.25 percent) were the top gainers.
The Bank Nifty closed 227 points higher at 21,122.55 level. The BSE Bankex also closed 291 points higher at 24061 level.
As on September 30, 2016 gross NPAs of public sector banks rose to Rs 6,30,323 crore as against Rs 5,50,346 crore by June end. This represents an increase of Rs 79,977 crore on quarter on quarter basis. To clean up balance sheet, the government has announced plans to recapitalise the PSU banks.
According to the Finance Ministry data, the NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India.
Bank of Baroda has NPAs of Rs 35,467 crore, Canara Bank (Rs 31,466 crore), Indian Overseas Bank (Rs 31,073 crore), Union Bank of India (Rs 27,891 crore), IDBI Bank (Rs 25,973 crore), Central Bank of India (Rs 25,718 crore), Allahabad Bank (Rs 18,852 crore) and Oriental Bank of Commerce (Rs 18,383 crore).
market slowly climbing back
-
The stock market opened this week on Wall Street worries, but climbed back slowly on positive sentiments reflected through the blockbuster listing of D-Mart. The market barometer stood at 29,518.7 points at the opening of this week, but slipped by 0.33 per cent to close at 29,421 points today.
Sectorally, the top two gainers of the week were BSE Realty Index and BSE Oil and Gas Index, which grew 2.1 per cent and 0.8 per cent, respectively, over the week. The bottom two were BSE Consumer Durables Index and BSE Healthcare Index, slipping 1.3 per cent and 1.2 per cent, respectively.
"The ability of the Trump administration to pass key legislations would be the key to the US market's future and investors should keep an eye on such developments," says Jimeet Modi, CEO of SAMCO Securities.
The passing of Affordable Health Care legislation will test the strength of President Trump and hence, the mood of the market hinges on this event.
"Global stock market movement will guide the direction for domestic markets in the short term," adds Modi. The year-ending compulsions will also keep the market range-bound subject to the US market response to Affordable Care bill.
"The market is likely to remain in sideways zone with a firm bias," says Modi.
The stock market opened this week on Wall Street worries, but climbed back slowly on positive sentiments reflected through the blockbuster listing of D-Mart. The market barometer stood at 29,518.7 points at the opening of this week, but slipped by 0.33 per cent to close at 29,421 points today.
Sectorally, the top two gainers of the week were BSE Realty Index and BSE Oil and Gas Index, which grew 2.1 per cent and 0.8 per cent, respectively, over the week. The bottom two were BSE Consumer Durables Index and BSE Healthcare Index, slipping 1.3 per cent and 1.2 per cent, respectively.
"The ability of the Trump administration to pass key legislations would be the key to the US market's future and investors should keep an eye on such developments," says Jimeet Modi, CEO of SAMCO Securities.
The passing of Affordable Health Care legislation will test the strength of President Trump and hence, the mood of the market hinges on this event.
"Global stock market movement will guide the direction for domestic markets in the short term," adds Modi. The year-ending compulsions will also keep the market range-bound subject to the US market response to Affordable Care bill.
"The market is likely to remain in sideways zone with a firm bias," says Modi.
To fight competition from Amazon, Flipkart likely to buy eBay's operation in India
-
The country's e-commerce giant Flipkart is reportedly said to be in talks to acquire eBay's India operations in an all cashless deal.
According to media reports, US-based eBay is likely to invest $500 million in Flipkart. This deal would be part of a $1.5-2 billion funding round, out of which Flipkart has already secured $1 billion through Chinese firm Tencent and Microsoft.
Since its launch in 2004, US firm ebay has been underperforming in India and has been unable to take on its competition.
The online auction portal also reported losses of Rs 262 crore for the year ended March 2016 in comprison to Rs 172 crore in 2015.
Recently, eBay India head Latif Nathani was been replaced by Vidmay Naini. If all goes well, ebay India operation will soon be merged with Flipkart after the deal.
Flipkart's sky-high valuations was marked down several times last year. In November 2016, Morgan Stanley marked down Flipkart's valuation - for the fourth time in a year - to $5.6 billion. Last year, Flipkart was devalued by Morgan Stanley at about $5.5 billion compared to the $15.2 billion it was valued at in May 2015.
Also, there were management changes with Flipkart's biggest investor Tiger Global Management appointing former eBay executive Kalyan Krishnamurthy to help turn around India's most valuable internet startup.
Till then, the founders, Sachin Bansal and Binny Bansal had a largely free hand. With Amazon India's insatiable appetite for spending money to expand, investors in Flipkart became more cautious.
There was a mass exodus of senior leadership from Flipkart, followed by a quest on how to fill the gap and what the new leadership structure should be like. It took 3-4 months for Flipkart to fix the internal organization and associated strategies and they practically lost this time to do anything significant around growth.
The country's e-commerce giant Flipkart is reportedly said to be in talks to acquire eBay's India operations in an all cashless deal.
According to media reports, US-based eBay is likely to invest $500 million in Flipkart. This deal would be part of a $1.5-2 billion funding round, out of which Flipkart has already secured $1 billion through Chinese firm Tencent and Microsoft.
Since its launch in 2004, US firm ebay has been underperforming in India and has been unable to take on its competition.
The online auction portal also reported losses of Rs 262 crore for the year ended March 2016 in comprison to Rs 172 crore in 2015.
Recently, eBay India head Latif Nathani was been replaced by Vidmay Naini. If all goes well, ebay India operation will soon be merged with Flipkart after the deal.
Flipkart's sky-high valuations was marked down several times last year. In November 2016, Morgan Stanley marked down Flipkart's valuation - for the fourth time in a year - to $5.6 billion. Last year, Flipkart was devalued by Morgan Stanley at about $5.5 billion compared to the $15.2 billion it was valued at in May 2015.
Also, there were management changes with Flipkart's biggest investor Tiger Global Management appointing former eBay executive Kalyan Krishnamurthy to help turn around India's most valuable internet startup.
Till then, the founders, Sachin Bansal and Binny Bansal had a largely free hand. With Amazon India's insatiable appetite for spending money to expand, investors in Flipkart became more cautious.
There was a mass exodus of senior leadership from Flipkart, followed by a quest on how to fill the gap and what the new leadership structure should be like. It took 3-4 months for Flipkart to fix the internal organization and associated strategies and they practically lost this time to do anything significant around growth.
General Awareness
List of Current Chief Ministers in India – Updated on March 2017
-
Current Chief Ministers in India
State Chief Minister Andhra Pradesh Shri. Nara Chandrababu Naidu Arunachal Pradesh Pema Khandu Assam Shri. Sarbananda Sonowal Bihar Shri Nitish Kumar Chhattisgarh Dr. Raman Singh Delhi (NCT) Shri Arvind Kejriwal Goa Manohar Parrikar Gujarat Vijay Rupani Haryana Manohar Lal Khattar Himachal Pradesh Shri Virbhadra Singh Jammu and Kashmir Mehbooba Mufti Jharkhand Shri Raghuvar Das Karnataka Shri Siddaramaiah Kerala Shri Pinarayi Vijayan Madhya Pradesh Shri Shivraj Singh Chouhan Maharashtra Shri Devendra Fadnavis Manipur Nongthombam Biren Singh Meghalaya Dr. Mukul Sangma Mizoram Shri Lal Thanhawla Nagaland Shürhozelie Liezietsu Odisha Shri Naveen Patnaik Puducherry (UT) V. Narayanasamy Punjab Amarinder Singh Rajasthan Smt. Vasundhara Raje Sikkim Shri Pawan Kumar Chamling Tamil Nadu K. Palanisamy Telangana Shri K Chandrasekhar Rao Tripura Shri Manik Sarkar Uttar Pradesh Yogi Adityanath Uttarakhand Trivendra Singh Rawat West Bengal Km. Mamata Banerjee
Number of Woman Chief Ministers – 3
Jammu and Kashmir – Mehbooba Mufti
Rajasthan – Vasundhara Raje
West Bengal – Mamata Banerjee
Current Chief Ministers in India
| State | Chief Minister |
| Andhra Pradesh | Shri. Nara Chandrababu Naidu |
| Arunachal Pradesh | Pema Khandu |
| Assam | Shri. Sarbananda Sonowal |
| Bihar | Shri Nitish Kumar |
| Chhattisgarh | Dr. Raman Singh |
| Delhi (NCT) | Shri Arvind Kejriwal |
| Goa | Manohar Parrikar |
| Gujarat | Vijay Rupani |
| Haryana | Manohar Lal Khattar |
| Himachal Pradesh | Shri Virbhadra Singh |
| Jammu and Kashmir | Mehbooba Mufti |
| Jharkhand | Shri Raghuvar Das |
| Karnataka | Shri Siddaramaiah |
| Kerala | Shri Pinarayi Vijayan |
| Madhya Pradesh | Shri Shivraj Singh Chouhan |
| Maharashtra | Shri Devendra Fadnavis |
| Manipur | Nongthombam Biren Singh |
| Meghalaya | Dr. Mukul Sangma |
| Mizoram | Shri Lal Thanhawla |
| Nagaland | Shürhozelie Liezietsu |
| Odisha | Shri Naveen Patnaik |
| Puducherry (UT) | V. Narayanasamy |
| Punjab | Amarinder Singh |
| Rajasthan | Smt. Vasundhara Raje |
| Sikkim | Shri Pawan Kumar Chamling |
| Tamil Nadu | K. Palanisamy |
| Telangana | Shri K Chandrasekhar Rao |
| Tripura | Shri Manik Sarkar |
| Uttar Pradesh | Yogi Adityanath |
| Uttarakhand | Trivendra Singh Rawat |
| West Bengal | Km. Mamata Banerjee |
Number of Woman Chief Ministers – 3
Jammu and Kashmir – Mehbooba Mufti
Rajasthan – Vasundhara Raje
West Bengal – Mamata Banerjee
Jammu and Kashmir – Mehbooba Mufti
Rajasthan – Vasundhara Raje
West Bengal – Mamata Banerjee
No comments:
Post a Comment