Tuesday, 31 May 2022

Sidhu Moose Wala cremation Live Updates: Last rites to be held at 2 pm, fans throng ancestral village to catch last glimpse of singer

A huge crowd gathered at the Moosa village in the Mansa district of Punjab today for the cremation of singer-politician Sidhu Moose Wala, whose blatant killing has led to a furore among his family members and fans. Accompanied by some relatives, Moosewala’s father received his son’s body from Mansa Civil hospital, where it was kept for post-mortem, around 8:15 am. The last rites are reported to be delayed and will likely be held at 2 pm.

After Moose Wala’s body was brought from the mortuary of the Civil Hospital in Mansa to his home, his fans shouted slogans against the Punjab government and the police, demanding death for his murderers. A heavy police force has been deployed outside the residence of the slain Punjabi singer, who was shot dead in broad daylight on Sunday.



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Last body recovered from Tara Air plane crash site: Nepal Army

Rescuers on Tuesday recovered the last body from the wreckage site of the Tara Air plane that crashed in Nepal’s mountainous Mustang district on Sunday, confirming the death of all 22 people on board, including four Indians. Authorities in Nepal resumed their search operation on Tuesday morning to retrieve the last body, a day after rescuers recovered 21 bodies from the wreckage site of the turboprop Twin Otter 9N-AET plane that crashed in the mountainous Mustang district amidst bad weather.

“The last dead body has been recovered. Arranging to bring the remaining 12 dead bodies from the crash site to Kathmandu,” Nepal Army Spokesperson Brigadier General Narayan Silwal tweeted.”With the recovery of one more body by the search and rescue team today (Tuesday) morning, all 22 bodies have been collected from the accident site,” said Deochandra Lal Karna, spokesperson for the Civil Aviation Authority of Nepal (CAAN).”Ten dead bodies of the plane crash victims have been brought to the base camp from the mountain area, where the accident took place,” he said.

Now it is confirmed that all 22 people, including four Indian nationals and three crew members, have been killed in the tragedy, he added.Tara Airlines has identified the four Indians as Ashok Kumar Tripathy, his wife Vaibhavi Bandekar (Tripathy) and their children Dhanush and Ritika. The family was based in Thane city near Mumbai.

“Two bodies are still at the accident site. The bad weather condition has prevented rescue operations at the site. As soon as the weather improves the dead bodies will be brought to the base camp,” he said.Ten bodies have already been brought to Kathmandu on Monday and are awaiting postmortem at Tribhuvan University Teaching Hospital, Maharajgunj.By Monday night, rescuers had recovered 21 bodies from the crash site, said a statement issued by the Civil Aviation Authority of Nepal (CAAN).

The Canadian-built plane, flying from Pokhara to the popular tourist town Jomsom in central Nepal, was carrying four Indians, two Germans and 13 Nepali passengers, besides a three-member Nepali crew.President Bidya Devi Bhandari and Prime Minister Sher Bahadur Deuba have condoled the death of crew members and passengers in the plane crash.

The government has formed a five-member commission of inquiry headed by senior aeronautical engineer Ratish Chandra Lal Suman to find out the cause of the Tara Air plane crash.A preliminary investigation revealed that the aircraft had crashed into the mountains after it swerved to the right, instead of turning to the left due to inclement weather, CAAN Director-General Pradeep Adhikari said during a meeting of the International Committee of the Parliament on Monday.

On Monday, the CAAN in a statement said that the plane had crashed at Thasang-2 in Mustang district at the height of 14,500 feet.The photo posted on the social media site shows the tail and one wing of the aircraft remain intact.Nepal, home to eight of the world’s 14 highest mountains, including Everest, has a record of air accidents.

In 2016, all 23 people aboard were killed when a plane of the same airline flying the same route crashed after takeoff.In March 2018, a US-Bangla Air crash occurred at the Tribhuvan International Airport, killing 51 people on board.A Sita Air flight crashed in September 2012 while making an emergency landing at the Tribhuvan International Airport, killing 19 people.

A plane flying from Pokhara to Jomsom crashed near Jomsom airport on May 14, 2012, killing 15 people. Tara Air is the newest and biggest airline service provider in the Nepalese mountains, according to the airline’s website. It started its business in 2009 with the mission of helping develop rural Nepal.



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Trump Policies Sent U.S. Tumbling in a Climate Ranking


By BY MAGGIE ASTOR from NYT Climate https://ift.tt/sADWKq2

Monday, 30 May 2022

How to optimize your trading performance

This is the age of retail investors, and India is not immune to the global trend. We can prove it with numbers. Retail investors’ share on the NSE alone increased from 33% in 2016 to 45% in 2021. In June 2021, the number of new investors registered on a monthly basis reached an all-time high of 1.5 million.

Individual investors are increasingly turning away from conventional safe-haven assets like gold and real estate, as well as bank deposits.

While this isn’t the first time India has seen a retail investment boom, it is the first time that these first-time traders are coming from beyond the metros like Delhi and Mumbai, and from the country’s smaller towns and cities. They are even defying conventional wisdom and willingness to go against conventional trading strategies.

Many new traders have embraced stock trading for a variety of reasons. The pandemic undoubtedly fuelled the surge in interest. Millions of people suddenly found themselves with greater money and more free time. The prevalence of easy-to-use investment apps, which are progressively being incorporated into payment apps, making money transfers even more simple, fuelled the unanticipated retail investing frenzy. These tendencies have been building for some time, but their influence has only recently been apparent.

Some of the reasons for first-time traders to start trading include greed, FOMO (fear of missing out), hope, frustration, and boredom.

While trading in the financial markets is fascinating, exciting, and gripping, for some people, trading—with its promise of great income, financial freedom, often frenetic pace, highs, and lows—can become an addiction, similar to alcohol or gambling. Whereas some average investors might strike it rich, for most people it can cost them socially and economically. Just as the saying goes – Too much is too bad. Isn’t it? But what defines ‘too much’? Is it the capital? Is it the number of trades? Is it the trades in the same script? Or anything else for that matter!

A typical trader whilst seeing the charts knows admittedly, how the mind races to take trades. Going long / short / hold / squaring off the position are the most common calls the mind screams and a trader is driven by. And the only way to know the performance is by the Profit/Loss statement. But this only states the performance, and fails to improvise the trader.

Now what if, the trader wants to just check which trades taken were in favour and which were not. How long the trades were held and what happened after the exit?  At what time of the day the trades were generally successful?   On what days the trades were successful? How often were the trades sold in panic? What is the suitable risk appetite?

In India, most of the first-time traders in the year 2020 were influenced by the traders who showed screenshots of their profits on social media platforms like Twitter, YouTube, Instagram, Facebook, & Telegram. People just saw their profits and jumped into the trading. Either copying their trading calls or being dependent on random calls they received from various sources. A few traders decided to take lessons from professional trading academia and a few just learnt by committing several mistakes on their own.

They chose to march on regardless of the road until they all suffered significant casualties. Many of these people left the journey knowing that they couldn’t take any more losses. On the other hand, the number of people who joined this ever-changing wheel of trade continued to grow at an incredible rate. YouTube, Instagram, Facebook, Twitter, and Telegram have all played a vital role in this rise that cannot be overlooked.

All of these platforms, if you look closely, have one thing in common: financial success! This generation is influenced by the massive profits made by the “chosen few” on these platforms. FOMO (fear of missing out) triumphs over logic and rationality, encouraging new traders to make money by following the “chosen few” on these sites. They make money one day and lose money the next (which is perfectly normal) till the whole invested capital does not vanish. Although some people opt to give up in the middle and others decide to borrow more money from their loved ones to cover their losses. They lose more in the process of recovering, and they realise this is nothing more than a risk.

There is no way to define the real success metric of “the select few” that they are genuinely doing good. Their results (profit or loss) are not just due to luck but sheer knowledge and skills that empower them to do wonders. There is no way to rank these traders in a way that would not just define their profitability but their behavioural and technical skills coupled with knowledge about the markets. The ranking metric is not just applicable for “the select few” but also for every trader to motivate and know how good they are with their skills and knowledge.

While in this day and age, there are plenty of platform tutors who educate about trading and making profits but until recently there was no way to find a trader’s success other than her/his P&L statement, no tools that were available in the market to define behavioural traits of the trader based on the trades s/he took, and there was no platform that existed that could predict what strategy a trader used.

On this front, the Indian stock market has witnessed the arrival of a new platform by Anastrat to help traders analyse their trading behaviour and maximise profits. This platform is beneficial for those traders who have less time in today’s fast-paced world. It provides post-trade analytics that helps traders zero in on winning strategies and avoid losses.

(By Mohit Golecha, CTO, AnaStrat)

Disclaimer: This is the author’s personal opinion. Readers are advised to consult their financial planner before using any app or making any investment.



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Pakistan-based terror group JeM, LeT maintain training camps in Afghanistan: UN report

Pakistan-based terror groups such as Jaish-e-Mohammed and Lashkar-e-Taiba, led by 26/11 Mumbai terror attacks mastermind Hafiz Saeed, maintain their training camps in some provinces of Afghanistan and some of them are directly under the Taliban control, according to a UN report.

The 13th report of the Analytical Support and Sanctions Monitoring Team cites a UN Member State as saying that Jaish-e-Mohammed (JeM), a Deobandi group ideologically closer to the Taliban “maintains eight training camps in Nangarhar, three of which are directly under Taliban control.” India’s Permanent Representative to the UN Ambassador T S Tirumurti, in his capacity as Chair of the Taliban Sanctions Committee, also known as the 1988 Sanctions Committee, transmitted the report to be “brought to the attention of the members of the Security Council and issued as a document of the Council.” The report said that Jaish-e-Mohammed, a Deobandi group led by Masood Azhar, is ideologically closer to the Taliban. Qari Ramazan is the newly appointed head of JeM in Afghanistan.

It added that Lashkar-e-Taiba (LeT) is described in the previous Monitoring Team reports as having provided finance and training expertise to Taliban operations. “Within Afghanistan, according to one Member State, it is led by Mawlawi Yousuf,” the report said, adding that in October 2021, according to one Member State, another LeT leader, Mawlawi Assadullah, met with Taliban Deputy Interior Minister Noor Jalil.

The same Member State reported that in January 2022, a Taliban delegation visited a training camp used by LeT in the Haska Mena district of Nangarhar.”The group was said to maintain three camps in Kunar and Nangarhar. Previous LeT members have included Aslam Farooqi and Ejaz Ahmad Ahangar (a.k.a. Abu Usman al-Kashmiri), both of whom joined ISIL-K,” the report said.

Another Member State said that there was no evidence of the presence of JeM and LeT in the region as a consequence of effective security operations targeting them, according to the report.The report further said that the Tehrik-e Taliban Pakistan (TTP) constitutes the largest component of foreign terrorist fighters in Afghanistan, with their number estimated to be several thousand.

Other groups include the Eastern Turkistan Islamic Movement (ETIM), Islamic Movement of Uzbekistan, Jaish-e-Mohammed, Jamaat Ansarullah and the LeT, with each numbering in the few hundreds.It said the TTP, led by Mufti Noor Wali Mehsud, has “arguably benefitted” most of all the foreign extremist groups in Afghanistan from the Taliban takeover. It has conducted numerous attacks and operations in Pakistan.

The TTP also continues to exist as a stand-alone force, rather than feeling pressure to merge its fighters into Afghan Taliban units, as is the prospect for most foreign terrorist fighters. The group is estimated to consist of 3,000 to 4,000 armed fighters located along the east and southeast Afghanistan-Pakistan border areas, the report said.

According to one Member State, control of the Ministry of Interior and the Ministry of Refugees and Repatriations gives the Haqqani Network further points of contact with the Tehrik-e Taliban Pakistan, it said.“Sirajuddin Haqqani has reportedly been relied upon more than anyone else in the de facto administration to act as an intermediary between TTP and Pakistan. Haqqani mediations have not led to a sustainable ceasefire, but are a further indication of Sirajuddin’s central role within the Taliban as a mediator and figure of authority among rank-and-file of TTP and other mainly Pashtun groups in eastern Afghanistan,” the report said.

“The Haqqani Network is still regarded as having the closest links to al-Qaeda…The group continues to be the trusted partner for local facilitation of safe havens and support for the al-Qaeda core, including by maintaining ties with so-called ‘legacy al-Qaeda’: those who long ago established relations with the late Jalaluddin Haqqani and to whom the Haqqanis feel indebted for supporting them and the Taliban,” the report said.

The report noted that following the Taliban takeover of Afghanistan in August last year, the Haqqani Network “moved quickly” to secure control of certain key portfolios and ministries: interior, intelligence, passports and migration. “Prominent de facto ministerial positions secured by the Haqqani Network include those occupied by de facto Interior Minister Sirajuddin Haqqani and de facto Minister for Refugees Khalil Ahmed Haqqani,” it said.

“Responsibilities associated with these roles appear carefully chosen, as the ministries encompass the issuing of identity cards, passports and the monitoring of persons entering and exiting the country.“The Haqqani Network has also become the best militarily equipped faction and controls a number of armed formations, including the elite Badri 313 Battalion. The Haqqani Network now largely controls security in Afghanistan, including the security of the capital, Kabul,” the report said.

The 11th report of the Analytical Support and Sanctions Monitoring Team had said that among those groups posing a security threat, Afghan officials highlighted Tehrik-e-Taliban Pakistan, Jaish-e-Mohammed and Lashkar-e-Taiba, groups on which the Monitoring Team has written in the previous reports.It had been said that the presence of these groups is centred in the eastern provinces of Kunar, Nangarhar and Nuristan, where they operate under the umbrella of the Afghan Taliban.

The 11th report had added that according to Afghan interlocutors, Jaish-e-Mohammed and Lashkar-e-Tayyiba facilitated the trafficking of terrorist fighters into Afghanistan, who act as advisers, trainers and specialists in improvised explosive devices.Both groups were responsible for carrying out targeted assassinations against government officials and others. Lashkar-e-Taiba and Jaish-e-Mohammed were stated to have approximately 800 and 200 armed fighters, respectively, co-located with Taliban forces in Mohmand Darah, Dur Baba and Sherzad districts of Nangarhar Province, the report said.

Tehrik-e-Taliban Pakistan also maintains a presence in Lal Pura District, near the border area of Mohmand Darah, Pakistan. In Kunar Province, Lashkar-e-Taiba retains a further 220 fighters and Jaish-e-Mohammed has a further 30, all of whom are dispersed within Taliban forces, it added.



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HomeLane names Shilpa Gupta as senior vice president, supply chain management

HomeLane on Monday announced the appointment of Shilpa Gupta as its new senior vice president, supply chain management. In her new role, Gupta will report to HomeLane’s co-founder and CEO, Srikanth Iyer, effective immediately. She joins the company from Flipkart, where she was heading last mile operations for large business. 

“Gupta is joining HomeLane at a pivotal moment. As we have grown, we have introduced new products, and services and sourced creatively to successfully navigate the unique environment over the last few years. Shilpa will play a crucial role in scaling up our delivery models, expanding the reach and improving overall service to our customers,” Srikanth Iyer and Tanuj Choudhry, co-founders, HomeLane said. 

As part of her new role, Gupta will oversee all integrated supply chain activities across the company’s enterprise, including sourcing, planning, manufacturing, inventory, warehousing and logistics. She will continue to build on HomeLane’s long-term vision and strategy to make interiors hassle-free and pocket friendly for the customers by making the back-end supply chain agile, efficient and resilient. 

“I look forward to helping drive the company’s long-term growth strategy and leveraging my experiences and knowledge to build a stronger foundation that will help us meet the demands of our customers,” Gupta stated. 

Gupta comes with more than 13 years of experience in planning and operations and has worked with organisations such as Pepsico and Diageo in the past.

Established in 2014, HomeLane is a tech-enabled home interiors brand, providing interior services. Through technological interventions, tech-empowered designers, and project managers, the company claims to have built a community of over 25,000 customers across the country, over the last eight years. HomeLane currently claims to service more than 20 cities across the country through over 40 experience centres.

Read Also: Art-E MediaTech wins digital and creative mandate for CavinKare’s newly launched brand, Biker’s

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One militant killed in overnight encounter in Jammu-Kashmir’s Pulwama

One militant was killed in an overnight encounter with security forces in the Pulwama district of Jammu and Kashmir, police said on Monday. The encounter started at Gundipora in Pulwama on Sunday night after security forces launched a cordon and search operation to track militants in the area.

One militant was shot dead on Monday morning, police said. Kashmir zone Inspector General of Police Vijay Kumar on Sunday night said two Jaish-e-Mohammad militants, including the killer of constable Reyaz Ahmad, were trapped in the encounter with security forces.The constable was killed in Pulwama on May 13.



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Trace Network Labs aims to create a million BUDDY NFTs in the next one year in metaverse

Web3.0 company Trace Network Labs, which is into non-fungible tokens (NFT), aims to create a million BUDDY avatars in the next one year, Lokesh Rao, co-founder and CEO, Trace Network Labs, told FE Digital Currency. However, he declined to comment on both revenue and loss for FY23. “The fees for minting each BUDDY avatar NFT is $25, which can be paid in different currencies. We plan to reach the target of one million via various community onboarding initiatives and project awareness with global media support. These avatar NFTs enable people to login into different Web3.0 metaverses for various events or occasions,” he added. 

The company claims to have partnered with 35 brands to enable them launch their digital wearable collection NFTs. Further, these brands will launch their ‘Experience stores’ (virtual stores), where people can shop via their BUDDY (virtual) avatars. According to Rao, the company is targeting around 100 brands in the next one year to launch these experience stores, “These stores will return the brand-customer connection which got taken away with the advent of e-commerce,” he noted. 

The company plans to charge brands around $50,000 per store in the metaverse. “Our target is to sell around one million avatar NFTs, and also to conduct a sale of 70-100 experiential stores in the near future,” Rao said.

For Rao, these stores will provide almost a real store-like experience to users, where people can see products in detail, fitting, among others. “Brands will also roll-out digital wearable collection NFTs, digital collection NFTs (which will both be digital and physical), and physical product NFTs. Customers who buy a physical collection will be able to get it delivered to their place by the brand,” he added.

In an effort to market its product, the company plans to invest 20% of the fee received from selling tokens into advertising and promotion. “We want to inform people about the benefits around the Web3.0 space on metaverse, as well as an infrastructure for people to move around different metaverses,” he stated. Moreover, going forward, Rao claims that the firm will allow different businesses to convert their collections into NFTs.



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‘No One Is Alive’: At Least 14 Bodies Recovered From Nepal Plane Crash


By BY BHADRA SHARMA AND KARAN DEEP SINGH from NYT World https://ift.tt/19lKWPR

Sunday, 29 May 2022

WB govt likely to change law to replace governor with edu minister as ‘visitor’ of private universities

The West Bengal (WB) government is planning to amend the law to remove Governor Jagdeep Dhankhar as ‘visitor’ of private varsities in the state and appoint the education minister in his place. According to senior official, a discussion in this regard was held during Thursday’s state cabinet meeting and the process has already been started.

The development comes amid the state cabinet’s decision to make Mamata Banerjee, chief minister of West Bengal, the chancellor of state-run varsities, replacing the governor.

“There is a proposal for altering the law so that the governor can be replaced by the education minister as the ‘visitor’ of private varsities. In Thursday’s Cabinet meeting, there was a discussion on this and the proposal was supported by the members. Hopefully, the next meeting will give its approval,” an official said, adding that the government will explore the legal options in this regard soon.

As per the West Bengal government’s policy and guidelines for setting up private universities, the governor has to be appointed the ‘visitor’ and he can preside over the convocations. The ‘visitor’ also has the power to call for any paper or information relating to the affairs of the universities.

The official said that the government was open to take an ordinance route if the governor does not clear the proposed bill for making the chief minister the chancellor of state-run varsities.

The governor, by virtue of his position, is the chancellor of all state-run universities.

The decisions of the TMC government come amid a bitter turf war with the governor over several issues, including some relating to the running of universities.

Dhankhar earlier alleged that vice-chancellors of 24 universities have been “appointed illegally without the chancellor’s approval”.

After the vice-chancellors of the private universities skipped a meeting called by him in Raj Bhavan in December last year, he had hit out at the ruling dispensation in the state.

With inputs from PTI.



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Spelling Bee Forum


By BY ISAAC ARONOW AND DOUG MENNELLA from NYT Gameplay https://ift.tt/8BPkKOb

US surpasses China as India’s biggest trading partner in FY22 at $119.42 bn

The US surpassed China to become India’s top trading partner in 2021-22, reflecting strengthening economic ties between the two countries.

According to the data of the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21.

Exports to the US increased to USD 76.11 billion in 2021-22 from USD 51.62 billion in previous fiscal year, while imports rose to USD 43.31 billion as compared to about USD 29 billion in 2020-21. During 2021-22, India’s two-way commerce with China aggregated at USD 115.42 billion as compared to USD 86.4 billion in 2020-21, the data showed.

Exports to China marginally increased to USD 21.25 billion last fiscal year from USD 21.18 billion in 2020-21, while imports jumped to USD 94.16 billion from about USD 65.21 billion in 2020-21. Trade gap rose to USD 72.91 billion in 2021-22 from USD 44 billion in previous fiscal year.

Trade experts believe that the trend of increasing bilateral trade with the US will continue in the coming years also as New Delhi and Washington are engaged in further strengthening the economic ties.

Federation of Indian Export Organisations Vice President Khalid Khan said India is emerging as a trusted trading partner and global firms are reducing their dependence only on China for their supplies and are diversifying business into other countries like India.

“In the coming years, the bilateral trade between India and the US will continue to grow. India has joined a US-led initiative to set up an Indo-Pacific Economic Framework (IPEF) and this move would help boost economic ties further,” Khan said.
Rakesh Mohan Joshi, Director of the Indian Institute of Plantation Management (IIPM), Bangalore, too said that India is home to 1.39 billion people with the world’s third largest consumer market and the fastest growing market economy with unparalleled demographic dividend provides enormous opportunities for the US and Indian firms for technology transfer, manufacturing, trade and investment.

“Major export items from India to the US include petroleum polished diamonds, pharmaceutical products, jewellery, light oils and petroleum, frozen shrimp, made ups etc. whereas major imports from the US include petroleum, rough diamonds, liquified natural gas, gold, coal, waste and scrap, almonds etc,” Joshi said. America is one of the few countries with which India has a trade surplus.

In 2021-22, India had a trade surplus of USD 32.8 billion with the US.

The data showed that China was India’s top trading partner from 2013-14 till 2017-18 and also in 2020-21. Before China, the UAE was the country’s largest trading partner. In 2021-22, the UAE with USD 72.9 billion, was the third-largest trading partner of India. It was followed by Saudi Arabia (USD 42,85 billion), Iraq (USD 34.33 billion), and Singapore (USD 30 billion)



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Saturday, 28 May 2022

Book Review | The watershed: India’s forgotten victory over China

By Maj Gen Jagatbir Singh, VSM (Retd)

In 1967, India and China had a stand -off in the heights of Cho La and Nathu La at the Sikkim border. This time, unlike in 1962, overcoming the odds, India stood its ground and triumphed. Probal DasGupta in his wonderful account ‘Watershed 1967: India’s Forgotten Victory over China’; gives rare granularity into the clashes that were central to India regaining control in these strategically significant border areas. India did not win any territory in this battle but won its lost confidence after the defeat of 1962. The book covers events that preceded the clashes, the action itself, and the aftermath.

Part 1, is aptly titled the ‘Road to 1967’. We are exposed to the China – Pakistan collusivity through Sheikh Abdullah and his meeting with a CIA operative Duanne Ramsdell Clarridge in Jeddah in early 1965. Sheikh Abdullah had earlier met Premier Chou EnLai during the Asian African Conference in Algiers in February that year and had been told about a plan China and Pakistan were launching in concert to attack India for which they wanted the support of the local population in Kashmir.   

He now revealed the sensational plan to the CIA including exhaustive details of the infiltration which was to be followed up by a conventional attack with the aim of forcing India to give up Kashmir. A ‘Crisis Game’ was held in Langley which predicted the war in 1966; with Pakistan ‘capturing Srinagar airfield and rolling towards Jammu’ and the Chinese ‘instigating a fierce battle’ in the East with ‘Sikkim being the point of vulnerability for India’; as Sikkim had been ‘demanding autonomy from India, the PLA would be seen as liberators’.

The war never went as predicted but the Chinese did try to break India’s momentum against Pakistan and prevent its ability to pull out troops from the East by announcing the creation of Tibetan Autonomous Region (TAR) on 01 September, warning India against building military structures on TAR soil on 08 September and on 17 September giving an ultimatum to dismantle bunkers within three days. Finally, it amassed troops on the border in Sikkim.

DasGupta clearly states that” it was Chinese belligerence that led India to accept the ceasefire in spite of its position of military advantage over Pakistan”. After the announcement China announced that “Indian troops had withdrawn their military structures”; but these had never existed to begin with.

This part also covers the perplexing Chinese allegation that India had stolen sheep and yaks and threatened ’a repeat of 1962’; in response to which Atal Bihari Vajpayee took a herd of sheep to the Chinese Embassy with a placard saying “ eat me but save the world’. It also covers the Chinese build up at Jelep La and Nathu La and the contrasting responses by the respective Divisional Commanders with Major General Sagat Singh’s unwillingness to vacate the forward positions at Nathu La, a decision which undoubtedly prevented China from gaining a huge tactical advantage in this sector. This decision has been validated by events that have followed.

 Part 2; covers the battles of Nathu La and Cho La.  In the summer of 1967, during China’s Cultural Revolution, tensions rose between India and China including the illegal detention and public trial of two Indian diplomats in Beijing, including Krishna Raghunath who later became the Foreign Secretary with the Red Guards besieging the Indian Embassy.  India responded by deporting Chinese diplomats.

Other issues highlighted include Chairman Mao interacting with Naxalite leaders Charu Mazumdar and Kanu Sanyal as well as the use of air in Aizawl against Mizo insurgents who had been supported by both China and Pakistan. Incidentally, as per Probal, two of the pilots who were part of this mission were Rajesh Pilot and Suresh Kalmadi. It also covers the tensions between the Chogyal and the Indian government with him seeking greater autonomy and his wife Hope Cooke questioning the grant of Darjeeling to British India in 1835 by an ill-timed article. China was also steadily increasing its gap of military capability with India and had tested its first thermonuclear device in June 1967. These anecdotes add tremendous value to the book.

In August, Chinese troops attempted to set up installations at Nathu La, just across the Chinese border within the territory of Sikkim and targeting Indian troops with propaganda through loudspeakers. By September, tensions had escalated due to the laying of the barbed wire fence and brawls were taking place, but at 0745 hours on 11 September, Indian troops were met by Chinese machine-gun fire, followed by artillery fire. This resulted in the death of nearly eighty eight personnel and injury to many brave soldiers. The battalion responded by machine gun fire but the opening up of artillery fire was delayed due to the permissions involved.

Over the next few days, Indian troops were able to destroy Chinese installations and it is estimated that in NathuLa the Chinese lost 340 men and there were over 450 personnel injured. Finally a ceasefire was declared on 14 September.

In late September, Chinese troops made a similar attempt at nearby Cho La, and captured Point 15450 in a bloody skirmish but were beaten back by the bravery and combat skills of 7/11 Gorkha Rifles and were taken by surprise by the manner in which the battalion launched the Counter Attack.

Das Gupta is at his strongest describing the clashes. He has described the lay of the land at Nathu La, and at Cho La, analysing the terrain, a key element in any battle, well. Though a large portion of the book follows then Major General Sagat Singh, GOC 17 Mountain Division under whose jurisdiction the clashes took place. A truly remarkable soldier who carried a bounty on his head in Portugal for his role in the Goa Operations in 1961, he would go on to play a major role in reducing the insurgency in Mizoram and in making a dash for Dacca as the 4 Corps Commander in 1971.He ‘stood ram rod straight’ and was always present at the decisive point.

  However, once battle commences, Dasgupta shifts the focus not only to the ‘calm and unflappable ‘Brigade Commander Brigadier MMS Bakshi, MVC, but also the two outstanding and fearless Commanding Officers Lieutenant Colonel Rai Singh of 2 GRENADIERS who was awarded the Maha Vir Chakra and Lieutenant Colonel KB Joshi of 7/11 Gorkha Rifles and the other officers, JCO’s and the men who all played their parts in this clash.

This includes Havildar Tinjong Lama of 7/11 Gorkha Rifles who destroyed many bunkers with his accurate RCL  firing, Rifleman Debi Prasad who fearlessly used his khukri to cut down the Chinese while assaulting their defensive wall,  Major Ram Singh Rathore the Company Commander all of the same battalion, who laid down his life at Point 15450 . Captain Sheru Thapliyal who brought down devastating artillery fire on the Chinese and Major Harbhajan Singh of 18 RAJPUT who was awarded the Maha Vir Chakra for leading the Counter Attack at Nathu La, as well as Major Bishan Singh and Captain PS Dagar of 2 GRENADIERS who were responsible for laying the barbed wire fence.

General Sagat Singh’s leadership, including placement of artillery guns, ensured that a difficult situation could be salvaged and turned into India’s favour quickly. The artillery used at Nathu La changed the course of the battle.

In Part 3, Dasgupta has rightly argued that an Indian victory in 1967 forced a rethink by China that ultimately shaped the subcontinent. The significance of the win of 1967 left a deep geopolitical impact. India was now perceived as ‘possessing the capability of repelling Chinese aggression deftly’. It had direct repercussions on the Indo-Pak war of 1971, unlike in 1965 China did not pressurise India by making claims and moving troops in spite of being asked to do so by Henry Kissinger, the US National Security Advisor.

The significance of 1967, lies in the possibilities that could have constrained our actions in 1971, had we not won.  Incase India had ceded the Sikkim border zone, the 1971 War that led ultimately to the formation of Bangladesh might have gone very differently. Chinese control of the areas around Sikkim would have made it much easier to cut off Eastern India, and would have allowed China to give Pakistani forces the backing they needed in East Pakistan.  But India was able to support the formation of Bangladesh and thereafter incorporate Sikkim into India in May 1975, a move not acknowledged by China until 2003.

India’s victory over China in 1967 proved to be a watershed in history. The two countries would not go to war against each other again for a long time, ushering in over fifty years of a tense peace interspersed with stand offs, until the two countries were involved in a barbaric skirmish in Galwan in 2020.

The book explains the strategic landscape in the sub-continent during the tumultuous days of the 1965 India-Pakistan War; the twists, turns and intrigue regarding the amalgamation of the kingdom of Sikkim into the Union of India; and the constant Chinese attempts to prevent the accession. It also brings out the parallels between India’s actions in 1967 and similar boldness during the Sumdoring Chu standoff with China in 1987. In 1987 it was the combination of the then Eastern Army Commander General VN Sharma and the Chief General K Sunderji who recommended and executed aggressive action against the Chinese.  This zeal and confidence was also witnessed during the tense 2017 Doklam stand-off. While the story of a similar resolve and bravery by our troops at Galwan in 2020 is well known and part of recent memory.

Sandwiched between the two India-Pakistan wars of 1965 and 1971, the impact and relevance of the Nathu La and Cho La clashes of September 1967 have not been given their rightful due. However, India’s victory in 1967 set the stage for its future posture towards China.

The book also tells the reader how decisions taken then set the course for decades to come. It also shines a spotlight on the incredible bravery of the Indian soldier and how General Sagat Singh, with his foresightedness and moral courage, delivered India victory in this conflict. While easy to read it is a gripping and fascinating book, based on extensive research and interactions with various participants and  is  a must read particularly for those interested in Indo- China relations.

(Reviewer of the book is an Indian Army Veteran. Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited).



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Spelling Bee Forum


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Fire incidents will not hamper growth of EV industry, says Okinawa MD

Two of Okinawa’s scooters had caught fire in March and April, following which the company recalled 3,215 electric scooters.

“At the end of the day, it (electric scooter) is a mechanical product running on the road. There might be an error at any time. It can be manufacturer’s fault, rider’s fault or due to any other reason,” Sharma said. “Do you think a couple of scooters can define our quality system? We have not made any changes in the model or its components, nor have we changed the supplier. But as a responsible brand, we voluntarily recalled our vehicles,” Sharma added.

Besides Okinawa, electric scooters of companies like Ola, Pure EV, Jitendra New EV and Boom Motors had also caught fire around the same period. Following it, the ministry of road transport and highways had set up a committee comprising experts from Naval Science and Technological Laboratory (NSTL), Centre for Fire, Explosive and Environment Safety (CFEES) and Indian Institute of Science, which submitted its report to the government earlier this week.

“We are the first EV company in India to have IATF (International Automotive Task Force) certification. We follow all the norms related to the products and batteries prescribed by it as well as the government,” Sharma said.

Since the launch of its first product in India in 2017, Okinawa has sold more than 150,000 units in the country. At present, the company’s electric scooter range includes lithium-ion, high-speed models like Okhi-90, IPraise+, Praisepro and Ridge+, and lithium-ion slow-speed models like R30, Lite and Dual.

Okinawa had launched Praisepro, the model that caught fire on separate occasions, in 2018. The Praise family’s contribution has been close to 100,000 units in Okinawa’s overall volumes.

Other than Okinawa, Ola and Pure EV have recalled 1,441 and 2,000 units, respectively, after incidents of fire were reported.

Okinawa currently has a couple of manufacturing facilities at Bhiwadi in Rajasthan. The first facility has an annual installed production capacity of 90,000 units, while it is 300,000 units for the second, which began operations in February.

The company had recently launched Okhi-90 electric scooter. It is now planning to switch all its slow-speed models to high-speed. “High-speed models make up 90% of our total volumes even now. The switch to completely high-speed models will happen by Q3 CY22,” Sharma said.

The company will introduce the Okhi-100 electric motorcycle, one of the products it is working on as part of the JV with Tacita, either towards the end of CY22 or the beginning of CY23.



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Oh, You Thought the Miami Heat Were Done? Jimmy Butler Said No.


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Friday, 27 May 2022

‘Work pressure’: CM Gehlot rushes to control damage after Rajasthan minister seeks to be relieved from ‘dishonourable’ portfolio

Rushing into damage control after a minister from his cabinet vented out his anger against the state bureaucracy, Rajasthan Chief Minister Ashok Gehlot on Friday said that the minister might have been under tension, and should not be taken seriously. 

“He is under a lot of work pressure. He might have come under tension and made a statement, we should not take it seriously. I am yet to speak to him,” Gehlot said. 

The remarks came a day after state sports minister Ashok Chandna expressed anguish over the conduct of Gehlot’s chief secretary, referring to him as the “minister of all departments”, and said he would prefer being removed as a minister. 

Chandna made his displeasure public through a tweet, saying he does not want to hold on to the “dishonourable” ministerial post.

“I request the honourable chief minister to relieve me of this dishonourable ministerial post and give the charge of all my departments to Shri Kuldeep Ranka ji. He is anyway the minister of all the departments,” he tweeted in Hindi, without elaborating. 

The development comes just days ahead of Rajya Sabha elections in Rajasthan and indicates resentment within the party. Just a week ago, Congress MLA from Dungarpur Ganesh Ghogra sent his resignation to Gehlot in protest against a police case against him. 

BJP leaders latched onto Chandna’s tweet to attack the Congress government. “The ship is sinking…The trends for 2023 begin to arrive,” BJP state president Satish Poonia tweeted, attacking the screenshot of Chandna’s tweet.

“This is an example of the ‘governance’ of the Ashok Gehlot government. It shows the weakness of the party high command. It also shows the influence of bureaucracy on the government,” Poonia told PTI. “This has a pattern. Earlier, Ganesh Ghoghra sent resignation and now Chandna has offered the resignation. This impacts governance,” he said. 

BJP MLA Vasudev Devnani said the ministers and MLAs do not have confidence in the Congress government of Rajasthan. “The minister is demanding freedom from this corrupt government. If this is the condition of the ministers in the government, then what would be the condition of the public,” he said. 



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New York’s Most Generous Tax Break Could Bite the Dust


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Odisha school sets up archive to celebrate alumni’s contributions in freedom movement

Odisha school has set up archives in light of the celebration of alumni in the freedom movement. The alumni association of Ravenshaw Collegiate School, Cuttack, has established a ‘Revolutionary Archive’ for sourcing and sharing information on some of the institute’s illustrious former students, who contributed to the freedom movement.

“The archive has been established to document contributions of heroes such as Kartar Singh Sarabha, who may not have found a place in history books. On the occasion of the country’s 75 years of Independence, it is imperative we commemorate these not-so-popular heroes along with the better-known ones,” Biswaranjan Sasmal, one of the members of the association, said.

Many people in the state and the country are aware of the fact that the school was the alma mater of greats such as Netaji Subhas Chandra Bose and former chief minister Biju Patnaik, but what they may not know is that the forgotten hero of the Ghadar revolt, Shaheed Kartar Singh Sarabha, is also an alumnus of the institution, established way back in 1851, members of the association said.

Kartar Singh’s 126th birth anniversary was celebrated in a big way from May 22 to May 25 in Odisha, with academicians, historians and other prominent personalities recently emphasising the need to preserve the legacy of the revolutionary fighter.

According to Umakant Mishra, a professor at the department of history in Ravenshaw University, Sarabha, whom Saheed-i-Azam Bhagat Singh considered his political guru, studied in the eminent school for two years.

With inputs from PTI.



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Here are the latest developments in the war in Ukraine.


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Thursday, 26 May 2022

Kinetic Engineering reports 43 percent growth in Q4 FY22

Kinetic Engineering, part of the Kinetic Group, announced its Q4 FY22 earnings, which saw a growth of 43 percent, compared to the same time last year. Kinetic Engineering earned Rs 124.35 crore, up from Rs 87.03 crore in revenue last year.

Kinetic Engineering also saw an increase in EBDITA of 106 percent, at Rs 14.59 crore compared to last year’s Rs 7.11 crore. The company’s net profit stood at Rs 154 lakh for the year 2021-22, which is the company’s first full year of net profit in 15 years.

The company’s Quarter-on-Quarter revenue from operations saw an increase of 14 percent, at Rs 33.82 crore in Q4 and earned a net profit of Rs 63 lakh compared to Rs 13 lakh in the previous quarter.

Speaking on the results, Ajinkya Firodia, MD, Kinetic Engineering Ltd, said, “The strategy being pursued by the company has started giving positive results and we strongly believe that the company will maintain a sustained profitability trend despite extremely volatile commodity prices, which pose a serious challenge.”



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Jayant Chaudhary is Akhilesh Yadav’s pick as joint SP-RLD candidate for Rajya Sabha polls

The Samajwadi Party on Thursday named RJD chief Jayant Chaudhary — its alliance partner in Uttar Pradesh — as the joint SP-RLD candidate for Rajya Sabha elections, scheduled to be held on June 10. “Shri Jayant Chaudhary ji will be the joint candidate of Rajya Sabha from Samajwadi Party and Rashtriya Lok Dal,” the SP announced on Twitter.

This comes a day after former Congress leader Kapil Sibal filed his nomination for the Rajya Sabha polls as an Independent candidate supported by the SP. Party leader Javed Ali Khan also filed his nomination for the elections to the Upper House on Wednesday. Khan was previously a Rajya Sabha member from 2014 to 2020.

Earlier, there was buzz that SP chief Akhilesh Yadav’s wife Dimple Yadav was his likely choice for the Upper House.  

The election for 57 Rajya Sabha seats, spanning across 15 states, will be held on June 10. Uttar Pradesh sends a total of 31 members to the Upper House, of which 11 are set to retire on July 4. 

This will include five from the BJP, three from Samajwadi Party, two from BSP and one from thr Congress. At present, the BJP has a strength of 22 while SP has five members in the Rajya Sabha. BSP and Congress have three and one members respectively. 

With 403 elected members in the Uttar Pradesh Assembly, a candidate will require at least 34 votes for victory. The outcome of the state Assembly election held in February-March has changed the equation in the BJP’s favour.

With a strength of 273 in the UP Assembly, the ruling BJP-led NDA is set to get eight members elected to the Upper House while the SP-led opposition alliance, with a strength of 125 legislators, will be able to send three members to the Rajya Sabha.

Two senior BSP leaders — Mr Mishra and Ashok Siddharth — will retire in July, after which it will have only one member, Ramji Gautam, in the Upper House of Parliament.

The five retiring Rajya Sabha MPs of the BJP are Zafar Islam, Shiv Pratap Shukla, Sanjay Seth, Surendra Nagar and Jai Prakash Nishad.

The SP leaders completing their terms include former Uttar Pradesh Legislative Council chairman Sukhram Singh Yadav, whose son Mohit has joined the BJP.

Besides Yadav, the tenure of Reoti Raman Singh and Vishambhar Prasad Nishad will also end in July.



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The Stigma Attached to Housing Vouchers


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Wednesday, 25 May 2022

Good News! One-time option to modify billing cycle of credit card from this date – How it helps and know process

Credit card holders are aware that changing the billing cycle is not an easy task. The billing cycle of a credit card is sacrosanct and remains fixed till the time the card is in use and not cancelled. However, going forward, as a credit card user you will be provided with a one time option to change your billing cycle. RBI has now mandated card issuers to provide a facility to change the billing cycle date and the new rule will be effective from 1 July 2022. “Card-issuers do not follow a standard billing cycle for all credit cards issued. In order to provide flexibility in this regard, cardholders shall be provided a one-time option to modify the billing cycle of the credit card as per their convenience,” says RBI’s Directions to card-issuers.

Many individuals are holding multiple credit cards. There’s nothing wrong in using more than one credit card provided you are able to manage them properly. Paying the entire dues on time without delaying and incurring late fees and interest is the best way to use credit cards. While managing multiple credit cards, there is always a concern about billing cycles.

Billing Cycle or Billing Period is the regular length of time between closing dates of two consecutive bills raised by the card-issuer. As of now, there were no rules regarding the change in billing cycle date. Sachin Vasudeva – Associate Director & Head of Credit Cards, Paisabazaar.com says – “Card-issuers do allow modifications in billing cycles either within their internet-banking portal or mobile app whereas, with some issuers, you may have to speak with the customer care team to avail the facility. However, there were no predefined rules on this and approval of modification request, mode of changing, etc. were completely determined by the card-issuer’s internal policies.”

Credit card statement is generated on a specific date based on which the due date to pay the bill amount is arrived at. If you hold multiple cards, this new credit card rule may help you streamline your finances. “RBI’s new rule around billing cycle modification can help cardholders manage their finances better and more conveniently. They can align their credit card due dates with their salary credit date or cash inflows. The rule is especially beneficial for those who have multiple credit cards.,” says Vasudeva.

Interest free period on credit cards can go up to as high as 45-51 days depending on the time when you swipe your card. “By thoughtfully choosing the billing cycles, they can make the most of the interest-free periods on each card,” says Vasudeva.

The rule to change the billing cycle date not only helps to maximise the use of Interest free period on credit cards but also helps to manage your finances. “While choosing a billing cycle, consumers must give priority to aligning their due dates with the date on which their salary is credited every month. This will help them clear the dues easily and on time as they have enough cash-in-hand because card payments can be stressful when they are short on funds,” adds Vasudeva.



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Xiaomi Band 7 launched with always-on 1.62-inch AMOLED screen, up to 14-day battery life

Xiaomi has launched the Mi Band 6 in China alongside the Redmi Note 11T Pro series, Redmi Note 11 SE, Redmi Buds 4, and Redmi Buds 4 Pro wireless earbuds. The seventh gen Xiaomi Band— formerly Mi Band— has a larger 1.62-inch AMOLED screen with always-on functionality while retaining its predecessor’s 14-day battery life promise. There are new fitness smarts too including improved blood oxygen level or SpO2 tracking and more workout modes, making the Band 8 quite a comprehensive update over the Mi Band 6.

XIAOMI BAND 7 SPECS, FEATURES

Its main highlight, naturally, is its new 1.62-inch colour OLED display that stretches all the way to the edges resulting in an almost 25 percent bump in screen real estate (over last year’s Mi Band 6). The screen has a resolution of 490×192 pixels and can top 500nits, which is again an improvement over the last model. This version also lets you, finally, keep the display always on.

The Band 7 has a six-axis accelerometer, and it can monitor your heart rate and sleep quality index in addition to recognising your swimming strokes — it is 5ATM-certified which makes it swim-proof. It can monitor your blood oxygen level and automatically inform you when the level goes below 90 percent. It also supports 120 training modes and automatic workout detection. A Personal Activity Intelligence score meanwhile can give you insights into your workouts. You can also compete with friends basis of those scores.

Just like with the previous model, this one also gets an NFC option to allow digital payments. Microphone comes as standard in both models.

Xiaomi Band 7 boasts of up to 14-day battery life. Like the Mi Band 6, this one also charges through a magnetic dock, so you don’t need to take off the band to charge the device.

XIAOMI BAND 7 PRICE

The Band 7 starts at CNY 239 (roughly Rs 3,000) in China. A version with NFC will set buyers back by CNY 279 (roughly Rs 3,250). Global availability and pricing are yet to be announced.

Also Read | Xiaomi 12 Pro review: The feel-good flagship



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Tuesday, 24 May 2022

RIL, BP say private fuel retailing sector unsustainable

The joint venture between Reliance Industries and BP, RBML has told the government that the private fuel retailing sector is unsustainable after public sector firms frequently froze petrol and diesel prices far below their costs, said a report by PTI.

Indian Oil Corporation, Hindustan Petroleum, and Bharat Petroleum froze fuel prices for 137 days, beginning in November 2021, and again went into a 47-day break. RBML has scaled down its operations to make up for the Rs 700 crore loss it incurs every month.

Over the last weekend, fuel prices were slashed by Rs 8 a litre for petrol and Rs 6 a litre for diesel, however, this was passed on to the consumers. Sources aware of the matter told PTI that RBML contends that PSU oil marketing companies control over 90 percent of the market and are the price-setters, leaving no room for private fuel retailers in the fixation on the retail selling price of petrol and diesel.

Reports claim that the PSUs did not increase fuel prices as per international crude oil prices which have led fuel retailers to incur losses since February 2022. As of May 16, net under-recoveries in the industry were Rs 13.08 per litre for petrol and Rs 24.09 per litre for diesel.

At present, Reliance operates and owns two refineries at Jamnagar in Gujarat. One of them is meant solely for exports. BP has no equity shareholding in them. The JV, RBML buys fuel at market price from Reliance and other oil companies to supply petrol pumps.

In addition to Reliance, seven new private retailers have taken marketing authorisation for retailing fuel after a relaxed fuel retailing policy was announced in 2019. However, they too are facing difficulties and financial hardship due to the unprecedented under-recoveries on sales of petrol and diesel.

Private retailers want PSU oil marketing companies to follow the free market-determined pricing policy, facilitating daily revision, while also wanting a reduction in central excise and VAT, and a shift from ad valorem taxation to specific taxation. If not done, private fuel retailers may be driven out of the business, similar to 2008.



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How to financially prepare to pay higher EMIs as interest rates rise

Loans are going to be expensive post repo rate hike by the Reserve Bank of India (RBI). For anyone with floating rate loans, this means more EMIs and having to spend more months or years in debt. When interest rates change, normally the loan tenor is changed to adjust for the new interest dues.

But in a handful of cases, people opt for EMI adjustments. This means that every time interest rates change, their EMI changes, too. The current rate hikes will impact especially those with large-ticket loans such as home loans.

Suppose you have a home loan of Rs 1 crore with a repayment period of 20 years. An increase in home loan interest rate from 6.75% to 7% per annum may look meagre at 25 basis points. But it will result in an increase in the total interest amount by a whopping Rs 3.58 lakh till the end of the tenure.

If you’ve opted for an EMI adjustment, your EMI will increase from Rs 76,036 to Rs 77,530. It will continue to go up as rates increase. Are you prepared to pay higher EMIs? Here are some tips to help you manage higher EMIs.

Cut Down Your Non-Essential Expenses

With inflation beyond the expected levels, borrowers need to manage inflation and high interest rates simultaneously. It is advisable to cut down your non-essential expenses to cope with inflation and increase your savings to pay higher EMIs. If you can cut down unnecessary expenses and use it to prepay your loan, you can get big relief from the hike in your EMIs.

Think Before Applying For New Loans

If you have multiple loans and the interest rates are increasing, carefully check your financial health and assess whether you will be able to pay the EMIs for a new loan. When the interest rate increases, you should focus on repaying your existing loans.

Adhil Shetty, CEO, Bankbazaar, explains, “You must first focus on repaying your loans on time. Adding a new loan when the interest rate is going up can put extra stress on your financial health. So, try closing your existing loans first before you apply for a new one.”

Review Your Financial Plan

When you pay higher amount EMIs, your financial goals might require a review. The ideal reaction to this situation is to prioritise your goals. “You can make necessary adjustments in the fund allocation towards your goals so that you can achieve your critical goals on time whereas you may delay such goals which are placed lower in your priority list. If your income increases in the future or the interest rate comes down, you may reinstate your original financial plan,” suggests Shetty.

Use Windfall Gain To Prepay Loans

It is advisable to reduce your loan baggage whenever you see windfall gain in income. Sometimes people use windfall gains like an annual bonus or a surplus business income for unplanned expenses like vacations or buying electric goods, etc. Instead, if you use such funds on prepaying your loans, you can save more money towards your interest outgo.

Exit Low Return Investments to Prepay Loans

Take a relook at your existing investments. If there are low-yielding investments providing lower returns than your home loan rate, you may exit them to prepay your loan. It will relieve you from the stress of higher EMIs. You can always accumulate the corpus again when you don’t need to pay higher interest rates on your loans.

In the end, if you are finding it difficult to pay higher EMIs, you can always choose to extend the loan tenure or partially pay some amount to keep your EMIs unchanged. You can get in touch with your lender to help you find the best option depending on your situation.



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Word of the Day: categorically


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Monday, 23 May 2022

Telangana, Tamil Nadu, Hyderabad report cases of new Omicron strains; Potential Monkeypox outbreak puts nations on alert: Top Health Updates

The coronavirus pandemic is far from over, the WHO has reiterated once again as several nations witness new wave of Covid-19 infections and deaths.

In Europe, situation remains grim in Germany while in Asia, China has been facing a stubborn outbreak leading to disruption in daily life and supply chain management.

In India, which has been seeing rather moderate number of daily cases for over 10 days, there is a cause of new worry. INSACOG – the country’s Covid-19 genomic sequencing consortium — has confirmed the presence of two new strains of the Omicron variant of novel coronavirus.

Meanwhile, amid the ongoing pandemic, several nations are reporting Monkeypox cases. Nations have been warned that it has the potential to be the next outbreak. As the nations deal with the latest healthcare concerns, here are latest updates on coronavirus pandemic and Monkeypox cases.

According to an Indian Express report, an 80-year-old man from Telangana has become the first confirmed case of BA.5 sub-variant of Omicron strain of novel coronavirus. More importantly, the man has no past record of international travel. Also, the report says that the man had received both doses of Covid-19 vaccine. INSACOG’s other report says that another sub-variant of Omicron BA.4 has been detected in Hyderabad and Tamil Nadu.

Researchers say that both these sub-variants are responsible for the latest surge of Covid-19 infections in Europe as well as the US. Since these two are sub-variants of Omicron strain, the WHO already considers them as ‘variants of concern,’ the Indian Express report added.

Moving on to the rising number of Monkeypox cases around the world. The WHO warns that there may be a higher number of Monkeypox cases as the nations increase the testing. The Monkeypox outbreak is very rare outside Africa and has taken the scientists by surprise. From the US, to Argentina to several European countries such as the UK and Spain have reported the confirmed cases of this rare virus



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Pence, Tiptoeing Away From Trump, Lays Groundwork for ’24 Run


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A Vote by Activision Workers Could Give Unions a Foothold in Gaming


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Spelling Bee Forum


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Biden Says U.S. Military Would Defend Taiwan if China Invaded


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Sunday, 22 May 2022

Universities are melting pot of ideas, innovation and aspirations, says Dharmendra Pradhan

At the XXVII Convocation of the North Eastern Hill University (NEHU), Meghalaya; Union Minister for Education, Skill Development and Entrepreneurship Shri Dharmendra Pradhan urged university students to bring in the change in the society by participating in the knowledge-based revolution to become job providers. “Our universities are melting pot of ideas, innovation and aspirations and universities should be a breeding ground for research for welfare of society and mankind and for furthering ease-of-living,” he said.

The Minister attended the convocation ceremony as the chief guest and conferred degrees to the passing out students for 2020 and 2021 at the ceremony held in the Shillong campus. Shri Pradhan congratulated all the passing out students and extended his best wishes for their bright future ahead.

The Union Education Minister further highlighted that the National Education Policy (NEP) 2020 is a transformative pathway for all of us in creating global citizens. The policy focuses on universalisation of early childhood care and education and also emphasises on learning in all Indian languages. He thanked Prime Minister Shri Narendra Modi for reiterating the importance of all Indian languages. No language is less than the other, he added.

Furthermore, Shri Pradhan complimented Chief Minister Shri Conrad Sangma for giving special focus on early childhood care and education in the state of Meghalaya in line with the NEP 2020. This will ensure that our children live up to their full potential.

According to Shri Pradhan, the youth should also shift their focus from rights to responsibilities. He encouraged to create a strong alumni network. “Walking on the path of duties, we have to take our country to new heights in the next decade. Let us give back either materially or intellectually to our schools and universities and also take responsibility of our state, country and humanity. There’s never been a better time to give back,” he added.

Meghalaya Chief Minister Shri Conrad Sangma,who attended the event along with the Union Minister, urged the passing out students to explore and take calculative risks in life in order to reach the next level. “Do not get demoralised by failure and do not let success get on to your head,” said the Chief Minister to the students.

A total of 15,955 degrees were awarded today during the convocation out of which 117 were PhD, eight were MPhil, 1559 were post graduate degrees and 14,271 were bachelor’s degree. Meghalaya Education Minister Shri Lahkmen Rymbui, vice chancellor NEHU Professor P. S. Shukla, faculty and students of NEHU gathered at the event held today.

Later the Union Minister along with Meghalaya Chief Minister Conrad K Sangma and State Education Minister Lahkmen Rymbui held a review meeting of Education, Skill Development and Entrepreneurship where senior officers of the central government also attended.

The Minister was happy to learn that Meghalaya is implementing the NEP in letter and spirit across spheres. State government initiatives like, Aspire Meghalaya and Prime Meghalaya are formalising talent discovery, recognising skills, supporting entrepreneurship and unlocking the potential of Meghalaya.

He said that progressive state like, Meghalaya must also lead efforts for establishing the national digital infrastructure, especially student registration portal as a part of the NDEAR and also bring its institutions under the NIRF and NAAC framework. He also suggested that NEHU should act as a knowledge partner for institutions across the state, especially in imparting skill development in frontier areas. Education Ministry of India would extend all support to make Meghalaya a model state in education and entrepreneurship.

Later in the day, Shri Pradhan visited Umsning Presbyterian school. He said Neuro-surgeon,pilot, engineer, soccer player, musician— ambitions and aspirations of future leaders from this school in Ri Bhoi district of Meghalaya will reaffirm the faith that India is going to become a knowledge society.

Read also: Telangana govt to take up Delhi school model, says chief minister K Chandrashekar Rao



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Natural gas supply reaches Bathinda refinery

State gas utility GAIL (India) Ltd has laid a dedicated pipeline to supply natural gas to HPCL Mittal Energy Ltd’s (HMEL) Bathinda refinery in Punjab as it looks to take the environment-friendly fuel to all corners of the country. This is a step towards making natural gas available to large customers, the company said in a statement.

The gas receiving station for the pipeline was inaugurated by Prabh Das, Managing Director and CEO, HMEL in the presence of Manoj Jain, Chairman and Managing Director, GAIL; Vartika Shukla, Chairman and Managing Director, Engineers India Ltd and Deepak Gupta, Director (Projects), GAIL, it said.

“The dedicated pipeline, which will supply 1 million standard cubic meters per day of gas to HMEL, has been laid at a cost of Rs 142 crore.

“The 44.26 km pipeline of 12 inch diameter (total capacity – 5 mmscmd) is a spur line of the 500 km Dadri-Bawana-Nangal Pipeline (DBNPL). The natural gas supply tap off is taken from GAIL receiving terminal at NFL, Bathinda,” it said.
GAIL is India’s largest natural gas transporting and marketing firm.

The DBNPL is a part of the National Gas Grid and runs from Dadri (Uttar Pradesh) through Yamunanagar (Haryana) to Nangal (Punjab), to meet energy demand of these northern states. The pipeline will boost the supply of natural gas in the region, resulting in increased supply for domestic households, vehicles, commercial and industrial establishments.

It already supplies gas to various industrial customers and city gas networks in places like Ghaziabad, Bawana, Saharanpur, Yamunanagar and Mandi Gobindgarh, Nangal, Ludhiana, NFL Bhatinda and CGS Ludhiana.



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‘S.N.L.’ Says Goodbye to Multiple Cast Members


By BY DAVE ITZKOFF from NYT Arts https://ift.tt/K0vOmeq

Saturday, 21 May 2022

Gyanvapi Mosque row: Hindu College professor arrested over ‘objectionable’ post on ‘Shivling’

Associate professor of Delhi University’s Hindu College Ratan Lal was arrested on Friday night over an objectionable social media post regarding the claims about a ‘Shivling’ found inside the Gyanvapi Masjid complex in Varanasi, police said. An FIR was lodged against Lal last Tuesday after a complaint filed by a lawyer named Vineet Jindal. In his complaint, Jindal claimed that the alleged tweet on the ‘Shivling’ was “derogatory, inciting and provocative”.

Lal was arrested by the Cyber Police Station, North under sections 153A (promoting enmity between different groups on grounds of religion, race, place of birth, residence, language, etc., and doing acts prejudicial to maintenance of harmony) and 295A (deliberate act to outrage religious feelings of any class by insulting its religion).

Advocate of Ratan Lal Mehmood Pracha said that Lal’s arrest was a case of police overreach. “A false case was registered against him (Prof Ratan Lal). The FIR & complaint doesn’t mention one thing that can be termed as a cognizable offence. Despite that, arrests cannot be made u/s 153A & 295A IPC, police don’t have that power,” Pracha told reporters.

“This arrest is also a contempt of the judgement by the Supreme Court… & a violation of section 3 in the Scheduled Castes & the Scheduled Tribes (Prevention of Atrocities) Act… we will prove his innocence. More protests should happen,” added Pracha.

In his defence, Lal had said that being a historian, he was entitled to his views and he had used “very guarded language” in his post. “In India, if you speak about anything, someone or the other’s sentiment will be hurt. So this is nothing new. I am a historian and have made several observations. As I wrote them down, I have used very guarded language in my post and still this. I will defend myself,” said Lal.

Soon after his arrest, senior Congress leader Digvijaya Singh tweeted in support of Lal and said that he was exercising his fundamental right of free speech and expression. “I strongly condemn Prof Ratan Lal’s arrest. He has the Constitutional Right of opinion and expression,” he tweeted.

(With inputs from PTI)



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IndiGrid March quarter net jumps 45 pc to Rs 99.80 cr

Infrastructure investment trust IndiGrid has posted over 45 per cent rise in its consolidated net profit at Rs 99.80 crore in the March quarter, mainly on the back of higher revenues. The consolidated net profit of India Grid Trust (IndiGrid) was Rs 68.69 crore in the quarter ended March 31, 2021, a regulatory filing showed. Total income in the quarter under review rose to Rs 568.50 crore, from Rs 514.09 crore a year ago.

The consolidated net profit in the fiscal 2021-22 also rose to Rs 343.27 crore, from Rs 334.40 crore in 2020-21. Total income in the fiscal surged to Rs 2,274.44 crore, from Rs 1,714.15 crore in the 2020-21.

In a separate statement, the company stated that for the full year FY 2021-22, the consolidated net distributable cash flow was up 3 per cent at Rs 944.2 crore. The Board of the Investment Manager (of IndiGrid) also approved a Distribution Per Unit (DPU) of Rs 3.19 for Q4 FY22 ( January-March quarter) to unitholders in line with the distribution guidance.

The record date for the distribution is May 26, 2022 and shall be paid as Rs 2.55 per unit in the form of interest and Rs 0.64 per unit as capital repayment. With this, IndiGrid has distributed Rs 58.5 per unit to its investors over the last five years since its listing, a total return of 108 per cent on the issue price. Total return is the sum of all distributions since listing till Q3 FY22 and change in price till March 31, 2022.

The consolidated net debt/AUM (asset under management) stood at 56 per cent as of March 31, 2022, leaving significant debt headroom for future growth, it stated.

The board of IIML (IndiGrid Investment Managers Ltd) also noted and approved proposal of raising of debt up to Rs 700 crore through various sources including term loans, non-convertible debentures and/or any other mode as may be permitted under applicable law.

The board also approved the appointment of Divya Bedi Verma as the Chief Financial Officer of IIML with effect from July 1, 2022 in place of Jyoti Kumar Agarwal.

Further, as per the stock exchange filing dated May 7, 2022, Jyoti Kumar Agarwal will take over as the new Chief Executive Officer and whole-time director of Investment Manager of India Grid Trust from Harsh Shah effective July 1, 2022. Agarwal has been with IndiGrid since September 2020 as the CFO

IndiGrid has assets under management (AUM) of over Rs 21,100 crore (USD 2.72 billion). The investment manager of IndiGrid is wholly-owned by KKR.



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International Tea Day: Decoding the difference between whole leaf tea or dust tea

Tea, as a beverage, has many takers across the world. In India, however, it is considered as an emotion, an important part of the country’s culinary culture.

A staple in Indian households, tea is a must-have drink in the evening and the morning. On International Tea Day — observed on May 21, according to the United Nations — here is a look at the difference between dust tea and whole-leaf tea and which is better.

The Tea Heaven founder Harshada Bansal told The Indian Express that tea came in two varieties: tea bags and loose leaves. While most prefer traditional leaf-infused tea, some people prefer tea bags as it required less effort. Each person has a different perspective on how to make the perfect cup, she said.

Explaining the difference between the two, Bansal said dust tea was the lowest grading of tea, gathered from the crushing of broken leaves, leaving only small tea particles. Tea bags often contain tea dust and its flavour usually does not last over repeated steepings.

The term ‘whole leaf tea’, Bansal said, referred to tea prepared from intact, undamaged leaves. Tea bags, known as dust and fannings, are little tea leaves designed to be brewed quickly. The tea produced by this brew is more likely to be rich and flavourful since a whole leaf has a bigger surface area.

Bansal added that in general, whole leaf tea had a lot more taste than dust tea. Full leaf teas are more complex and subtle than loose leaf teas. Even bold, strong teas like breakfast blends have more depth of flavour, she said. In comparison, tea bags can appear one-note and boring. She added that there was nothing wrong with drinking tea from a bag, but loose-leaf tea was better for those who liked tea.

The tea expert, however, concluded that it only depended on specific needs. Dust tea is generally better if tea or tea latte needs to be prepared quickly. Whole leaf tea is nearly always ideal if the health benefits, taste, flavour profiles, value for money, and quality while reducing waste or blending with sugar and milk is the preferred choice, she said.



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Jammu and Kashmir tunnel collapse: Operation to rescue missing labourers resumes

The operation to rescue nine labourers feared trapped under the debris following the collapse of an under-construction tunnel on the Jammu-Srinagar national highway resumed early on Saturday after a fresh landslide forced the authorities to suspend the process last evening, officials said. Their chances of survival are, however, bleak, they said.

A labourer was killed and three others rescued when the audit tunnel of T3 on the highway near Khooni Nallah In Jammu and Kashmir’s Ramban district caved in at the start of the work around 10.15 pm on Thursday. The officials identified the deceased labourer as Sudhir Roy (31), a native of West Bengal.

“Operation for 09 missing persons at Khooni Nallah adit tunnel site feared trapped inside debris began at 5.30 am early morning today (Saturday) and continues. NDRF and SDRF part of the operation,” Deputy Commissioner, Ramban, Mussarat Islam said in a tweet.

On Friday evening, over 15 rescuers, including the Station House Officer of Ramsu police station, Nayeem-Ul-Haq, had a narrow escape during the fresh landslide, prompting the authorities to suspend the rescue operation. It could not be resumed until this morning due to shooting of stones from the hillock, heavy rains and strong winds, officials said.

With the improvement in the weather condition, the rescue operation resumed with the first light of the day with authorities pressing three earth movers and rock-breakers to reach out to the trapped workers, they said. Additional personnel along with magistrates have been deployed to speed up the rescue operation, they added.

Those still trapped under the debris are Jadav Roy (23), Gautam Roy (22), Dipak Roy (33) and Parimal Roy (38), all from West Bengal, Shiva Chouhan (26) from Assam, Nepali citizens Nawaraj Chowdhury (26) and Khushi Ram (25), and Jammu and Kashmir residents Muzaffar (38) and Israt (30), officials said. All of them were employed by a company tasked with auditing the tunnel.

Earlier, Divisional Commissioner, Jammu, Ramesh Kumar and Additional Director General of Police (ADGP), Jammu, Mukesh Singh visited the incident site, while Lt Governor Manoj Sinha monitored the situation from a control room and was briefed about intermittent shooting stones, which have been obstructing the rescue operation.



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Ed-tech: Changing the face of education for differently-abled people

-By Rohit Gajbhiye

The youngest country in the world, India, has the largest number of students enrolled in the schooling system. The Indian school system boasts of catering to over 250 million students. Another 38.5 million students are engaged in higher education in the country. The 2011 census revealed that around 2.21% of the country’s population can be categorized as differently-abled. The education system in the country has largely been under-considerate towards the differently-abled people. A study by the UN suggests that 75% of differently-abled kids in India never see the school. Even the majority of those who enroll in the schools, drop out after the first few years of basic education. Some studies have revealed that less than 13 percent of the students enrolled in primary education are able to complete their education till class 12. There have been many reasons for this unfortunate happening. 

Differently-abled people need special care. Over the years, the large expanses, cultural & geographic diversity, large population, and various other factors have posed serious challenges in the spread of education to many parts of the country. In a country where people in many areas face serious issues while accessing education, the situation for the differently-abled people has been far worse. Lack of supporting infrastructure, training for teachers and fellow students, and the attitude of the society pose serious challenges to the children with special needs. 

The advent of technology however is changing the scenario. It is noteworthy that when online education was abruptly enforced due to the lockdown, many experts suggested that children with disabilities or special needs might not be able to cope with the new form of education and many may drop out. Online education and ed-tech were quick to react to the situation and gradually adapted to suit the needs of the differently-abled student. The ed-tech sector realized that children with special needs cannot be ignored. The education sector for the differently-abled offers huge market potential and most edtech companies are coming up with ideas and innovations to cater to this segment. Not only does it build an ecosystem for a segment but it also facilitates the removal of any kind of barriers that account for the degrowth of human resource development in the country. 

Accessibility: Digital technologies have removed the constraints of time and place from the education system. Infrastructural support is one of the biggest challenges faced by people with special needs. More often than not, the local topography also makes things difficult for differently abled people. Now with digital education, differently-abled students can study from the comfort of their homes where they have family members to assist and support them. Differently-abled people are generally accustomed to the surroundings at the home and can easily access facilities like washrooms with or without the support of family members. 

Affordability: Edtech has made education affordable to all. The cost of education in India has always been on the higher side. A lot of differently-abled children dropped out of school for this reason. In financially difficult times, if parents had to choose between funding the education of a normal child or a differently-abled child, the normal child gets the priority in the majority of the cases. By making education affordable, ed-tech has somehow helped in overcoming this barrier. 

Flexibility: As the terms suggest, most children with special needs require innovative and out-of-the-box ways of teaching and evaluation. Earlier, most teachers were not trained enough to cater to the needs of such children. Neither did they have time or patience enough to deal with any different situation. Edtech has enabled schools and educators to design personalized courses to suit the needs of individuals with disabilities. Personalization of education is proving to be a game-changer in the field of education for differently-abled people. 

Equality: Another tangent of viewing the technological intervention in the knowledge delivery is the sense of equality that it provides to the segment of people who are often disintegrated with the mainstream. The technology may exhibit a blanket approach but it can definitely bridge the gaps which are psychologically created and are artificial in nature. 

There are more than 4500 ed-tech start-ups in India. Many established corporate players are also foraying in the field. The majority of these companies have special programs for people with special needs. Corporates are not only seeing education for differently-abled persons as a business avenue but also as their contribution to the welfare of society. There are examples of start-ups even founded and run by differently-abled people. Despite already having 6 ed-tech unicorns in the country, many experts believe that India’s ed-tech revolution has just begun. The government’s vision for inclusive education, changing perception of the society, and the rise of technology in the education sector are promising a bright future for the education of people with special needs. 

The author is the founder and CEO at Financepeer.



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‘It’s been a long four years.’


By Unknown Author from NYT World https://ift.tt/Fs6prmY

Friday, 20 May 2022

KPIT’s new Michigan software excellence centre to help accelerate vehicle development

KPIT Technologies, a leading software supplier for automotive and mobility ecosystem has strengthened its presence in the United States with a new software excellence centre in Michigan. 

This the company says will help accelerate software-defined vehicle development for mobility OEM giants and Tier 1s within the US.

The new centre will enable teams to work closely with OEMs and Tier 1s, who have decades of partnership with KPIT and technology companies disrupting the mobility ecosystem. It is already home to cutting-edge software-defined vehicle work that helps KPIT’s clients succeed in their journey toward connected, autonomous, shared, and electric technologies.

Sachin Tikekar, Joint MD and Member of the Board, KPIT Technologies said, “Our vision is to reimagine mobility with our clients, talent and partners. We ventured into the US two decades ago with a small presence. Over the years, it has been extremely gratifying to have our strategic clients, alliances, and investors, partner with us together in our journey of growth. As the mobility industry stands at the crux of exciting times, our expanded presence will help us further engage deeply with our clients. We will further drive value through our transformational solutions.”

Chinmay Pandit, Head of US Geography, KPIT Technologies said, “The US is one of our most promising geographies. We are looking at significant growth and will add over 300 roles in the near term. Our work with global leaders, including cutting-edge technology, demands top talent at scale. Our academic alliances with universities across the US will help us engage top-notch local engineers. Our centre will enable our teams to jumpstart their career growth paths through exciting opportunities, as well as help serve our clients better.”



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Glenmark Pharma gets final USFDA nod for generic version of Abiraterone Acetate tabs

Glenmark Pharmaceuticals Ltd on Friday said its US arm has received final approval from the US health regulator for its generic version of Abiraterone Acetate tablets used for the treatment of prostate cancer.

The approval granted by the US Food and Drug Administration (USFDA) to Glenmark Pharmaceuticals Inc, USA (Glenmark) is for Abiraterone Acetate tablets of strength 500 mg, the company said in a statement. It is the generic version of Zytiga tablets, 500 mg, of Janssen Biotech Inc, it added.

Citing IQVIA sales data for the 12 month period ended March 2022, the company said Zytiga tablets 500 mg achieved annual sales of approximately USD 260.2 million.

Glenmark said its current portfolio consists of 173 products authorised for distribution in the US marketplace and 49 abbreviated new drug applications pending approval with the USFDA.



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Cars24 fires 600 employees as late-stage funding dries up

It joins a growing list of unicorns such as Vedantu, Unacademy, Meesho and others, which have recently laid off staff as the startup ecosystem stares at a funding crunch.

A person aware of the developments told FE that the startup’s decision to lay off employees is part of its “usual” performance-linked review process, and denied that these were due to cost cuts. Currently, Cars24 has more than 9,000 employees in the country, and the layoffs have affected around 7% of its overall team size.

“This is business as usual performance-linked exits that happen every year,” a spokesperson for the company said when FE reached out.

Recently, a few high-growth startups, including Vedantu, Meesho, Trell, OkCredit, Furlenco, Lido, Meesho, Unacademy, Better.com and others, have collectively laid off more than 2,000 employees. Experts say that a slowdown in growth and late-stage funding, coupled with investors and board members turning cautious after the tech stocks crash, have pushed startups to trim down their employee-related expenses.

Job cuts at Cars24 come just a few months after the startup raised its biggest round to date, a $400-million financing round led by Alpha Wave Global, which boosted its valuation to around $3.4 billion.

Cars24 turned a unicorn in November 2020 in a $200-million round led by DST Global. Founded in 2015, the startup takes care of the customer journey right from the discovery of vehicles to price estimation, financing and refurbishing. The Cars24 platform has seen accelerated demand in global markets, including across Australia, the UAE and Thailand, according to its earlier statements.

Globally, the used car retailing segment is valued at $100-billion currently. The segment emerged as one of the fastest-growing consumer internet verticals, especially after the pandemic caused havoc in the automobile segment in CY2020.

According to a report by Olx Auto and Crisil, India’s used car marketplace segment is expected to list more than 7 million vehicles by 2025-26, compared with 3.8 million vehicles listed in 2020-21. This is a CAGR of 12-14% over the next five years. In FY22 alone, the pre-owned car industry is expected to clock a growth rate of 15% due to Covid-19’s disruption on consumer spending patterns, and as digitisation penetrates more small towns.

Vikram Chopra, co-founder & CEO, Cars24, had earlier detailed its aggressive international expansion plans in a statement in December 2021 when the company had secured the $400-million funding round. Cars24 has also been vocal about its IPO plans when several reports indicated the firm has been preparing to go for a public offering within the next two years.

“Cars24 has aggressive plans for 2022 and beyond, and we can’t wait to put this investment to work. Today, we are witnessing greater acceptance amongst customers across the globe for our platform when purchasing their next car…As we continue to build the best infrastructure for the future with an end-to-end digital customer experience, we are confident that this will delight our customers with our high-touch industry experience,” Chopra said in his statement.
The pre-owned car retailing segment itself has seen heightened investor activity with startups like Spinny, CarDekho and Droom all being valued at over $1 billion in recent funding rounds.

Alongside the funding boom, Mumbai-based CarTrade recently went public with a `2,999-crore IPO in August that was oversubscribed by 20 times. However, CarTrade’s stock price is down significantly to `559 per share on closing day on Thursday, compared with a higher listing price of `1,600 as of August 2021.



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Charging capitation fee by medical colleges, a matter of concern, says SC

The Supreme Court expressed concern over medical colleges charging capitation fee and stated the practice is prevalent even today despite enacting legislations prohibiting it. The top court further mentioned that the private medical colleges are strictly prohibited from accepting payment of fees in cash in order to avoid charging of capitation fee.

The top court’s observation came while hearing a matter of setting up a web portal which would serve as a platform for the aggrieved persons to provide information relating to any demand of capitation fee made by private medical colleges.

The bench directed that a web portal under the aegis of the Supreme Court has to be set up wherein any information about the private medical colleges charging capitation fees can be furnished by students.

The portal has to be maintained and regulated by the National Informatics Centre (NIC) under the Ministry of Electronics and Information Technology, it said.

A bench headed by justice L Nageswara Rao stated it cannot shut its eyes to the hard realities of commercialisation of education and evil practices being adopted by many institutions to earn large amounts.

“In spite of the state governments enacting legislations prohibiting the practice of charging capitation fee and making it an offence, the stark reality which cannot be ignored is that capitation fee being charged for admission to medical colleges is prevalent even today,” the bench also comprising justice B R Gavai said.

Capitation fee means any amount, by whatever name called, paid or collected directly or indirectly in excess of the fee prescribed.

Furthermore, the chief secretaries of the States and Union Territories are directed to publish the details about the web portal in the English as well as vernacular newspapers at the time of admission. In addition, a pamphlet should be compulsorily given to the students and their parents at the time of counselling informing them about the availability of the web portal.

“While fixing the schedule for the admission process, the National Medical Commission and the Dental Council of India have to make sure that the counselling for all the rounds, including the stray vacancy round, is completed at least two weeks before the last date of admission. The names of students who are recommended by the authority for admission in the stray round vacancy have to be made public along with rank allotted to them in the NEET exam,” the bench said.

The admissions should be made strictly on the basis of merit and in the event of any admission to the contrary, suitable action shall be taken against the private medical colleges, it said.

“While fixing fee, the fee fixation committees of the states should take into account all the components of fee, leaving no scope for managements to charge any additional amount apart from what has been prescribed by the fee fixation committee from time to time. In the event that the management intends to charge additional amounts over and above the price band fixed by the Fee Fixation Committee, or for any component not included in the structure fixed by the Fee Fixation Committee, the same can only be done with the concurrence of the Fee Fixation Committee,” the bench said.

The director general of Health Services and other authorities concerned of the state governments should ensure that the All-India Quota and State Quota rounds of counselling are completed strictly in accordance with the time schedule that is fixed, the bench added.

With inputs from PTI.

Read also: Kashmir University appoints professor Nilofer Khan as its first woman VC



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