Day: May 3, 2023

First Republic Bank collapses: investors have wondered who’s next

Manish Kumar

First Republic Bank has become the second large regional bank with assets over $200 billion to fail in just a few weeks.  First Republic grew rapidly through deposits from wealthy individuals and companies. It used those deposits to make large loans, including jumbo mortgages.  Once Silicon Valley Bank went under, clients pulled their money, fearful their deposits were in danger.  First Republic said last week that depositors had withdrawn more than $100 billion.  The large loans on First Republic’s books dropped in value as the Federal Reserve rapidly raised interest…

CBI seizes Rs 20 crore in cash from the former CMD of a Central govt agency under the Ministry Of Jal Shakti

Manish Kumar

  The Central Bureau of Investigation (CBI) has seized more than Rs 20 crore in cash during searches at the premises of Rajinder Kumar Gupta, former Chairman and Managing Director (CMD) of public sector undertaking WAPCOS Limited, officials said. CBI raided places in around 19 locations including Delhi, Chandigarh, Panchkula, Gurugram, Sonipat & Ghaziabad in connection with a disproportionate assets case against Rajender Kumar Gupta, former CMD of WAPCOS water & power consultancy which comes under Jal Shakti ministry. CBI has filed the case against him and his family members…

Foreign Funds Investing in Adani Group Refuse to Identify Their Owners: Report

Manish Kumar

Several foreign funds investing in the Gautam Adani-led Adani Group have come under the scanner.  These funds have refused to identify their beneficial owners on grounds of client confidentiality and foreign privacy laws.   SEBI has sought ownership information from these foreign funds vested in the Adani Group.  SEBI asked for six more months from the Supreme Court to complete its investigation into the Adani Group.   The Congress said it hopes SEBI will use all means at its disposal to get clarity about the ultimate beneficial ownership of foreign…

Vinesh Phogat’s Charge Against Anurag Thakur: “Tough to stand against powerful people”

Manish Kumar

India’s ace wrestler Vinesh Phogat, who has been protesting against the WFI chief, claimed that it is tough to stand against “powerful people”.  Phogat criticized Thakur for not taking and allegedly suppressing the matter by forming a committee. No action was taken.  The wrestlers’ protest has snowballed into a huge political issue, with several opposition leaders showing harmony with the athletes and demanding the resignation of the WFI chief.  Meanwhile, Singh has refused to resign from the wrestling body, saying it would then mean he has accepted the allegations.  Delhi…

Alia Bhatt mistaken for Aishwarya Rai at Met Gala. Netizens say ‘they’re taking revenge for Zendaya, Tommy’

Manish Kumar

The Met Gala is an annual fundraising event for the Metropolitan Museum of Art’s Costume Institute in New York City, and is usually held on the first Monday in May. Alia Bhatt made her grand debut at Met Gala 2023, and floored everyone with her Disney princess look. She looked breathtaking in a white flowy gown. An unseen video from the event has now surfaced on the internet in which New York paparazzi mistook Alia for Aishwarya Rai. This reminded Indian fans of what happened when international celebs got clicked…

Ramcharitmanas row: UP Police files chargesheet against SP leader Swami Prasad Maurya

Manish Kumar

Three months after an FIR was registered against SP leader Swami Prasad Maurya over his controversial remark on Ramcharitmanas, Hazratganj Police has filed a chargesheet against the leader. In a remark that stoked a controversy, the SP leader had said there exist several crores of people who have not or do not read Ramcharitmanas. He said it was the British era that gave Dalits the right to read and write and that women got their right to be literate under the British Raj. He went on to say that the…

2 May 2023; Indian Institute of Technology (IIT), Delhi

Manish Kumar

  Confederation of Indian Industries (CII) hosted Global Science, Research and Innovation Summit in partnership with Office of Principal Scientific Adviser to the Government of India (OPSA) on 2 May 2023 at Indian Institute of Technology Delhi.   Dr Parvinder Maini, Scientific Secretary-OPSA, delivered a special address at the inaugural session where she emphasised the importance of industrial investment in scientific research and innovation activities to strengthen the national innovation ecosystem. She also highlighted that Science and Technology is an integral part of India’s growth story and impressed upon the…

Tremendous response to the Yoga Mahotsav has emboldened to make Yoga as a global healthcare movement: Shri Sarbananda Sonowal

Manish Kumar

The Yoga Mahotsav witnessed an exhilarating atmosphere as more than 15,000 enthusiasts performed Common Yoga Protocol (CYP), along with dignitaries, at the sprawling ground of Shri Bhawani Niketan Shiksha Samiti here today. The Yoga Mahotsav was a celebration to commemorate 50 days to upcoming International Day of Yoga, 2023. The participants performed Common Yoga Protocol (CYP) in complete rhythm and harmony with a mesmerising outcome. The event was graced by the Governor of Rajasthan, Shri Kalraj Mishra; Union Minister of Ayush and Ports, Shipping & Waterways Shri Sarbananda Sonowal; Union…

Chintan Shivirs allows free flow of innovative ideas: Shri Goyal

Manish Kumar

Union Minister of Consumer Affairs, Food and Public Distribution, Textiles and Commerce and Industry, Shri Piyush Goyal while interacting with officers of Department of Food and Public Distribution during Chintan Shivir suggested that this exercise should be a continuous process.  This kind of exercise breaks the barriers between the hierarchies and allows free flow of innovative ideas which may be processed further by the Department for the benefit of larger public and also provides a platform for personal growth of all. The two day-long Chintan Shivir started on 27th and…