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Thu, 10 November 2016
Trump's biggest ally in Britain warns him not to grope the PM

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23:57   Trump's biggest ally in Britain warns him not to grope the PM
During a radio talk show on Thursday, Nigel Farage, Britain's most outspoken cheerleader for President-elect Donald Trump, claimed credit as the "catalyst" for the Republican nominee's electoral success and cracked a joke about Trump molesting conservative British Prime Minister Theresa May.

"I am now going to become a diplomat. Come and schmooze Theresa -- don't touch her, for goodness sake," Farage said on TalkRadio, a popular program, offering a bit of the proverbial British banter.

"If he does, only in affectionate way," quipped one of the show's hosts.

To which Farage responded, "I could be there as the responsible adult to make sure everything is okay."

Read more HERE

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23:13   Currency ban backlash: Modi loses 3 lakh Twitter followers in 1 day
Prime Minister Narendra Modi's decision to demonetise Rs 500 and Rs 1000 currency notes seems to have backfired. Besides anger on the streets and confusion in markets, Modi also appears to be facing a backlash on Twitter.

CatchNews reported that Modi's twitter following fell by over 3 lakh on November 9, a day after he made the announcement on national television.

According to data available through the analytical service Twitter Counter, Modi lost 3.13 lakh Twitter followers on Wednesday.

Read more HERE

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21:50  
South Africa's Zuma survives no-confidence vote
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21:49   Transition begins: Trump meets Obama in White House
President-elect Donald Trump has arrived at the White House for his meeting with President Barack Obama to take the first public step in a transition of power after a bitterly fought election campaign that ended with the Republican businessman's surprise victory..

Obama -- who for his part had branded Trump "uniquely unqualified" for office and campaigned against him -- urged all Americans to accept the result of Tuesday's election.

"We are now all rooting for his success in uniting and leading the country," he said.

Melania Trump, meanwhile, will meet with Michelle Obama in the East Wing of the White House. Melania memorably gave a speech at the Republican National Convention, parts of which were plagiarised from a speech by Michelle.

Following the meetings, Trump will head to Capitol Hill along with Mike Pence, the vice president-elect, for lunch with Paul Ryan, the speaker of the house.

Meanwhile his transition team is working feverishly to fill out the key roles in the new administration. Rudy Giuliani, Newt Gingrich and Jeff Sessions are among those tipped for top positions.
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21:42  
MEA says: India raises questions over 'legally untenable action' of World Bank while dealing with Indo-Pak differences on Kishenganga and Ratle hydroelectric projects under Indus Waters Treaty. The Govt will examine further options and take steps accordingly on Indus Waters Treaty
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21:37  
President-elect Trump arrives at White House for talks with Obama
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21:03  
President-elect Donald Trump's plane arrives at Reagan National Airport ahead of his meeting with President Obama at the White House.
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20:47   Massive cyberattack hits five top Russian banks: Kaspersky
A massive cyberattack has hit at least five of Russia's largest banks, Moscow-based internet security giant Kaspersky said today.

The country's largest lender, state-controlled Sberbank, said it had been hacked into on Tuesday but managed to neutralise the attack automatically without disturbing its operations. 

Kaspersky said in a statement that the distribution of denial attacks (DDoS) began Tuesday at 1830 IST and targeted "the websites of at least five well-known financial
institutions in the top 10" in Russia. 

The attacks were still continuing today. Most lasted around one hour but the longest lasted almost 12 hours, Kaspersky said.

DDoS attacks involve flooding websites with more traffic than they can handle, making them difficult to access or taking them offline entirely.

These attacks saw as many as 660,000 requests being sent per second using a network of more than 24,000 hijacked devices located in 30 countries. More than half the devices were in the United States, India, Taiwan and Israel, Kaspersky said.
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20:30   It will take 10 more days for ATMs to work normally: SBI chief
Banking giant State Bank of India today said normalisation of ATM services will take another ten days as the number of machines is huge but the vendors providing services are few. 

The government, however, has said that most of the ATMs will be back in operation from Friday.

"Re-configuration (of ATMs), as we have done in the past, takes time so it has to be done one by one. It should be normal in ten days' time because you have to understand that there are two lakh ATMs (of all banks) in the country but there are only three to four vendors in the country," bank's chairman Arundhati Bhattacharya said.

Some of the bigger players providing ATM service are NCR Corporation and Hitachi. 

She said many of the ATMs which are configured to dispense Rs 500 or Rs 1,000 notes can not dispense Rs 100 notes, so they have to be reconfigured now. She advised the customers to also use 'point of sale' machines, where they can withdraw up to Rs 2,000. 
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20:27   What does Trumps win say about America as a nation?
America woke up Wednesday as two nations.

One jubilant, hopeful, validated. The other filled with fear, pessimism, abject horror. And both staring at an uncertain future in light of the vast chasm now revealed by this election.

For many, the unexpected elevation of an insurgent Donald J. Trump has shaken their very concept of these united states and forced them to consider whether they are living in an America that is not what they thought it was.

Read more HERE

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20:24   Classes canceled to allow students to 'cope' with shock of Trump's win?
Fox News reports: Professors at many universities canceled classes Wednesday to help their students deal with the apparent trauma of the election results.

"Because I know this process has been difficult for many of you (emotionally and mentally), I wanted to let you know that Im not taking roll in class tomorrow," a professor at UConn wrote in an email to students.

She told her English students she understood if they needed a "personal day" to deal with Donald Trump being elected president. 

Read more HERE
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20:08   Vijay Mallya declared proclaimed offender
In more trouble for beleaguered businessman Vijay Mallya, a special PMLA court in Mumbai today declared him a 'proclaimed offender' and directed the Enforcement Directorate to attach movable properties which were listed by the agency in its application. 

"It is pronounced and declared that the accused Vijay Mallya is the proclaimed offender. The movable properties (shares) belonging to the accused be attached," ordered judge P R Bhavke. 

However, the court rejected ED's request for attachment of the liquor baron's overseas properties.

The ED had moved the court last month seeking that Mallya be declared a proclaimed offender and his properties be attached as he did not comply with a proclamation order issued against him in June requiring him to appear before the court.

The agency had sought an order from the court under the Criminal Procedure Code's section 82 (proclamation of absconding person) as several arrest warrants were pending against him.

A person against whom a warrant has been issued can be declared a proclaimed offender if the court believes that he or she has absconded or is evading execution of warrant.  
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19:59   No surcharge for using different bank's ATM
Amid the rush for new currency notes, the surcharge for using ATMs of different banks has been waived.

Long queues formed at banks across the country today as millions rushed to deposit and swap Rs. 500 and Rs. 1,000 notes, banned in a surprise announcement by Prime Minister Narendra Modi to check black or untaxed money. 

The government is "unwavering in its effort to create an India that is corruption free and where fruits of development touch every citizen," the PM, currently on a Japan visit, tweeted.
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19:37   TMC gives notice in RS to discuss demonetisation
The Trinamool Congress today gave a notice in the Rajya Sabha to discuss the demonetisation of Rs 1,000 and Rs 500 currency notes on November 16 and said it would bring an adjournment motion on the subject in the Lok Sabha on the same day. 

"Today we gave a notice in the Rajya Sabha to discuss the issue suspending business under Rule 267 on November 16," TMC leader in the Upper House Derek O'Brien told PTI

TMC leader in the Lok Sabha Sudip Bandopadhyay said the party would bring an adjournment motion on the issue when the House meets on November 16.

Derek, also the chief national spokesperson of TMC, said it was vital the black money hoarders and the corrupt were punished, but it must not be done by inconveniencing the common people and the poor. 

He said there must be a proper action plan for the implementation of such an extensive move which directly affects millions, especially the middle class and the poor. 
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19:25   Committed to root out corruption, says Modi on demonetisation
Prime Minister Narendra Modi today said his government was "unwavering" in its efforts to create an India that is corruption free, comments that came against the backdrop of demonetisation of Rs 500 and Rs 1000 currency notes. 

He also expressed happiness over the enthusiasm and the patience shown by people to bear "limited inconvenience for a greater good".

"I assure you the government is unwavering in its effort to create an India that is corruption free and fruits of development touch every citizen," Modi, who is on a three-day visit to Japan from today, tweeted. 

In a surprise decision, Modi had on Tuesday night announced withdrawal of Rs 500 and Rs 1,000 notes from circulation in a bid to flush out black money.

"So happy to learn that citizens are expressing their gratitude to bankers and getting notes exchanged in a very patient & orderly manner," the prime minister said.

"It is also heartening to learn that people are actively volunteering to help senior citizens withdraw money and exchange their currency. Such warmth, enthusiasm and the patience to bear limited inconvenience for a greater good is indeed very heartening," Modi further tweeted.
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19:18   PM Modi reaches Japan for the annual summit
Prime Minister Narendra Modi today reached Tokyo for the annual summit.

Modi is on a three-day visit to Japan during which the two countries are expected to sign a civil nuclear deal besides discussing ways to step up cooperation in areas like trade, investment and security.

In his second visit to Japan as prime minister, Modi will be holding the annual Summit meeting with his counterpart Shinzo Abe and have an audience with the Emperor of Japan in Tokyo.
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19:05   Bobby Jindal to be part of Trump administration?
Former Louisiana Governor Bobby Jindal is being considered for a possible Cabinet post in President-elect Donald Trump's administration, The Wall Street Journal reported on Thursday.

Trump's team are considering Jindal's name for the post of secretary of the US Department of Health and Human Services, the report said.

Jindal was earlier secretary of the Louisiana Department of Health and Hospitals.

Other names being considered include Newt Gingrich, Rudy Giuliani and former contenders during the presidential primary, Ben Carson and Chris Christie.

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18:41   Demonetisation: I-T conducts multiple raids
Income Tax department has conducted multiple raids in Delhi, Mumbai and other cities in the wake of demonetisation of currency, news agency PTI has reported. 

This comes a day after Union Finance Ministry had warned of strict actions against those who will be found depositing undisclosed money after banks opened on Thursday.
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18:33   Two police officers shot in Pennsylvania: Reports
Two police officers were shot in a town in Pennsylvania on Thursday, according to media reports.

The armed suspect opened fire immediately on the officers as soon as they arrived at the scene of a reported domestic dispute. 

After hitting the two officers, the man, who is believed to have been involved in a row with his pregnant wife, ran from the scene.   

The two officers were shot at 3.15am local time in Canonsburg, Pennsylvania, which is approximately 25 miles southwest of Pittsburgh, according to WPXI.com.
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18:10   Politicians have now become columnists post note ban: Jaitley
Taking a dig at senior Congress leader P Chidambaram, Finance Minister Arun Jaitley today said after taking no action against blackmoney, politicians have now turned columnists, as he accused the opposition party of
never having a dislike for corruption.
He also expressed disappointment at Trinamool Congress and the Left parties mounting criticism against the government's move to withdraw higher denomination Rs 500 and Rs 1,000 notes in a major crackdown on blackmoney, corruption and counterfeit currency.
"I am not surprised at the reaction of the Congress party. The Congress party has never had a kind of dislike against corruption. In fact, they were marred in it when they were in power. And if I were to ask the Congress party, you were in power for last 10 years, name one step against blackmoney that you took... You probably won't find anything," Jaitley said in an interview to a news channel.
Terming government's decision to demonetise Rs 500/Rs 1000 notes as a "puzzle", Chidambaram had yesterday said that if the idea was to address the issue of blackmoney, why has it decided to introduce Rs 2000 denomination notes.
Jaitley said some Congress leaders who are not politicians have now become columnists.
"So when we were in power we did nothing, but now we are columnists so we will comment on whatever you are doing," he said, referring to Congress leaders.
"It is very easy to comment and start hair splitting. When you were in power and some of you got opportunity to become finance minister three times, what were the steps against blackmoney that you took. You can't  recollect a single one," he added.
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18:08   Don't cancel tickets booked with old notes: Govt to airlines
The government has directed airlines to ensure tickets issued using the now-withdrawn Rs 500 and Rs 1,000 notes directly from counters at airports are "non-refundable" following an unusual surge in such bookings since the high-value currencies were demonetised two days ago. 

Stepping up the fight against the black money menace, the government has demonetised the two high-denomination notes, but their use has been allowed for select purposes, including purchasing tickets from counters for air travel, train journey and travel in government-run buses till November 11. 

The government's directive to airline operators came amid concerns that unscrupulous elements could be using air ticket booking as a means to convert their unaccounted cash into legal transactions by cancelling the bookings later and take back the refund. 

Sources said the directive came from the "top level" in the government. 

Aviation regulator DGCA has asked the airlines to strictly make sure customers booking through counters at airports using the withdrawn Rs 500 and Rs 1,000 notes are not able to cancel or get any refund for such tickets, they added. 

While there has been no official announcement from the government and DGCA about the directive, some airlines have already announced that air tickets booked in the last 48 hours using old currency notes will not be refunded or cancelled. 

Airline officials said there has been a significant jump in over-the-counter booking of flight tickets since the government announced the demonetisation. 

"We generally see bookings at the airport counters to the tune of Rs 20-25 lakh per day. However, in the last 48 hours, it has risen significantly to around Rs 1 crore, which is almost a four-fold jump," no-frills airline SpiceJet's spokesperson Ajay Jasra told PTI. 
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17:49   Demonitisation effect: No cash refund for train ticket cancellations
Facing shortage of currency notes of lower denominations coupled with heavy rush at booking counters, the railways has stopped giving refund for cancellation of tickets in cash and instead issuing ticket deposit receipts.
Besides, in case of refund amount touching Rs 10,000 or above, the railways will only transfer the amount to the customer's bank account and the person concerned is required to furnish account details for receiving the amount while cancelling the ticket.
The government had demonitised Rs 1,000 and Rs 500 notes from the midnight of October 8 with the aim to fight black money and corruption, while exempting a few emergency services like hospitals, petrol pumps, railways and airports for three days up to November 11.
However, the demonitisation move has attracted heavy rush at ticket counters at railway stations resulting in cash shortage. "So we are giving TDR to those who are cancelling tickets and if the refund amount is Rs 10,000 or more then it would be returned to the bank account of the person," a railways official said.
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17:35   Allegations are unsubstantiated, half-truth: Mistry on Tata's letter bomb
Ousted Tata Sons Chairman Cyrus Mistry's camp today termed as "unsubstantiated claims and half truths" a series of allegations by the company, which stated that he betrayed trust and tried to seek control of main
operating firms of the over $100 billion group.
     
Responding to a statement by Tata Sons, sources close to Mistry said after 17 days of silence on his "unjustified and unexplained removal", there was still no "word of explanation as to why it became necessary to remove him summarily violating natural justice and without explanation".
     
The statement, they said, "has not much but selective data, unsubstantiated claims and half truths".
     
On claims that Mistry had an 'ulterior motive' of taking control of companies, a source said: "Giving the example of Indian Hotels only because independent directors -- one of whom is also a director of Tata Trust -- demonstrated true independence, is not in keeping with Tata governance standards."
     
The sources also said removing TCS from data in assessing Mistry's performance stating he does not really contribute materially to the company and to blame him for all problems inherited by him such as Tata Motor's passenger vehicle business in India is "inherently fallacious to any unbiased observer".
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17:04   Brexit leader Farage jokes about Trump groping Theresa May
Nigel Farage has branded Barack Obama a "loathsome' "creature' and said the election of Donald Trump is a "big opportunity' for the UK, the Independent reported.


The former Ukip leader also joked about Trump groping Theresa May while he tried to "schmooze' her for trade deals, telling a radio station: "He loves our country.'Mr Trump was elected on a hard right political platform, pledging mass deportations of undocumented migrants and saying he would ban Muslims from travelling to the United States.


Obama was criticised by Brexiteers after he intervened in the EU referendum debate, warning that the UK would be "back of the queue' for any trade deal.


"That Obama creature -- a loathsome individual who couldn't stand our country. He said he'd be at the back of the queue, didn't he? And Americans don't use the word queue, they use the word line. So it was all a Dave and George stitch-up," Farage said in an appearance onTalkSport radio.


"What was interesting was that Trump said we'd be at the front of the queue. Listeners, bear this in mind, however imperfect Donald Trump may be, and he is, his mother was Scottish, he's spent a lot of time in this country, he loves our country, what we stand for, and our culture.


"This is a big opportunity for all British business because once we've left that awful EU thing we can do our first trade deal with the United States of America. Isn't that Great?'
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16:46   Trump had offered to mediate in Kashmir, Pakistan 'welcomed' it
Pakistan today said it "welcomed" the US President-elect Donald Trump's offer to mediate between Pakistan and India on the Kashmir dispute.


During a weekly press briefing in Islamabad, while responding to queries about the victory of Republican Donald Trump in the US presidential election, Foreign Office spokesman Nafees Zakaria said the President-elect had earlier offered mediation between Pakistan and India on Kashmir dispute and "we had welcomed that offer".


Zakaria said Pakistan desires a close relationship with the US, and wishes to further strengthen it.


The US President-elect last month said that if elected, he would be willing to play a mediatory role in addressing the "very, very hot tinderbox" of Kashmir between India and Pakistan.


"If it was necessary, I would do that. If we could get India and Pakistan getting along, I would be honoured to do that. That would be a tremendous achievement... I think if they wanted me to, I would love to be the mediator or arbitrator," Trump had said in the interview. 
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16:13   Amarinder Singh, Cong MLAs resign over SC verdict on water sharing
Just in: Congress' Captain Amarinder Singh resigns as Lok Sabha MP protesting SC verdict on Sutlej Yamuna link canal row. All Punjab Congress MLAs have sent their resignations to Amarinder Singh protesting the SC verdict.


Punjab's law scrapping water-sharing agreements with neighbouring Haryana and other states is unconstitutional, the Supreme Court ruled today. The court also said that the Sutlej Yamuna canal or SYL canal, which is at the centre of a row between Punjab and Haryana, has to be completed.


The court said Punjab cannot unilaterally wriggle out of an agreement involving other states.


A five-judge constitution bench was ruling on the validity of a law in 2004 enacted by Punjab.



The case involves sharing of the Ravi-Beas river waters primarily between Punjab and Haryana, besides Rajasthan, Delhi, Himachal Pradesh, Jammu and Kashmir and Chandigarh.
 
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16:04   Pak issues visas to over 3,000 Sikh pilgrims, says this will promote religious tourism
Pakistan High Commission has issued visas to as many as 3,316 Sikh pilgrims to attend birthday celebrations of Guru Nanak Dev from 12-21 November there. Announcing this, Manzoor Ali Memon Counsellor (Press) in the Pakistan High Commission here said this was done in line with Pakistan's efforts to encourage people to people contacts and promote religious tourism.


The High Commission has issued visas to pilgrims more than the numbers prescribed under the 1974 bilateral protocol, he added. Guru Nanak Dev was born on 15 April 1469 at 'Rai Bhoi Ki Talva', present day Nankana Sahib, near Lahore in Pakistan's Punjab province.


Every year a large number of Sikh pilgrims travel to Pakistan to visit different Sikh shrines.
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15:57   Punjab law scrapping water sharing with states illegal: SC
Punjab law scrapping water sharing with states illegal, says Supreme Court.

The case involves sharing of Ravi-Beas river waters primarily between Punjab and Haryana, besides Rajasthan, Delhi, Himachal Pradesh, Jammu and Kashmir and Chandigarh.

On March 17, the Bench had directed the Punjab Government and the Centre to maintain status quo on the land acquired for the construction of the Sutlej-Yamuna Link (SYL) canal, thus stalling the move to return it to the farmers.

The Bench passed the order on Haryanas plea for appointing the Centre as the court receiver of the land to prevent Punjab from returning about 4,000 acres of land to the farmers under a law passed in the Assembly on March 14.

Haryana had filed an application against the move to return the land acquired for the SYL canal, pleading for its hearing along with the Presidential reference on the 2004 PTA Act under which Punjab had unilaterally terminated its inter-state river water sharing agreements.

Haryana pleaded that Punjab had enacted the 2004 Act to nullify the SC verdicts for the completion of the SYL canal and deny it its share of the Ravi-Beas waters, while the 2016 Act was meant to render the Presidential reference irrelevant. Punjab, however, pleaded that since the SC verdicts on SYL were no longer valid in view of the 2004 Act, the 2016 legislation for return of SYL land did not violate any SC order.

Punjab also contended that the SC opinion on the 2004 reference would not be binding on the parties. Making it binding would render the Punjabs plea for a fresh tribunal meaningless.

The tribunal was necessary to decide the eligibility and entitlement of each state to share the Ravi-Beas waters, going by the rights of riparian states and the reduced flow in these two rivers.

The Centre, however, pleaded Punjab could not defend its 2004 Act as well as seek a fresh tribunal. Declaring the Act valid would render meaningless the two SC judgments for completion of the SYL canal as well as Punjabs plea for a fresh tribunal.

If Punjab wanted to terminate its water sharing agreements, where was the need for a tribunal, the Centre said. It, however, clarified that it was taking a neutral stand on the dispute.

Haryana has requested the Bench to keep alive its status quo order on SYL land even after giving its opinion on the Presidential reference. Punjab wants constitution of a fresh tribunal to ascertain the present flow of water.
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15:40   Mike Pence, the man who can reassure America
He is all the things Donald J. Trump could not be. A career public servant who has served in Congress and run a state. A hero to conservatives who adore his strong Christian faith and resistance to the country's rapid social liberalization. A disciplined messenger who keeps his opinions from erupting on Twitter.


How much influence Gov. Mike Pence of Indiana, the vice president-elect, will have in a Trump White House is unknown, especially given Mr. Trump's habit of consulting a wide circle of formal and informal advisers and then ultimately doing as he pleases.But given how deep mistrust of Mr. Trump runs -- not only from Democrats but also from elected officials in his own party who said he was unfit to become president -- Mr. Pence, 57, could become the administration figure who offers a measure of comfort in what is sure to be a highly uncertain and chaotic time.  Read more
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15:22   Freecharge Wallet balance jumps 12x with demonetization of Rs.500, 1000 notes
Freecharge reported a sharp 12X overnight jump in the average wallet balance as consumers loaded up their wallets to face a cashless day across the country.

Freecharge wallets are used extensively by users to conveniently pay for utilities like cab rides, metro, phone recharges, electricity, gas, petrol, DTH and lots more.

Since Freecharge is also used at over 100,000 online and offline merchants like Snapdeal, Bookmyshow, Swiggy, Zomato, Shoppers Stop, McDonald's, Cafe Coffee Day and others, Freecharge user can continue their daily transactions without any cash related interruption.

"The announcement made by the Prime Minister yesterday is the biggest boost to creating a cashless India. We are thrilled that crore of Freecharge customers will be able to continue paying conveniently and securely for all their utilities and at leading merchants in India. The 12x surge we have witnessed is unprecedented and clearly driven by this big announcement," said CEO Freecharge, Govind Rajan
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15:05   Guardian angel Sushma offers help to woman stranded in US after husband's death
An Indian woman in the US who gave birth to a baby girl few days ago, weeks after her husband died of a heart attack has been assured by External Affairs Minister Sushma Swaraj of all possible help.


Swaraj has already directed the Indian Embassy in Washington to help Deepika Pandey, who is from eastern Uttar Pradesh, and now residing in New Jersey in the US.


The woman's husband Hariom Pandey, who was a software engineer, had died of a heart attack on October 19 in Boston and days later his friends had taken her to New Jersey to ensure her better care as they stay there. Deepika also has a four-year-old son.


"Deepika - We are with you in this hour of tragedy. I have asked @IndianEmbassyUS to help you," Swaraj tweeted.


Deepika Pandey's family had initially requested the minister to arrange for medical insurance for her as the insurance she had for Boston was not valid in New Jersey.


Now the family has requested the government to ensure early grant of passport to the new born by the US authorities who by birth is an American citizen.


The family also requested the government to ensure expeditious issuance of Overseas Indian Card to the new born so that Deepika Pandey and her two children can return to India at the earliest.

Image: The picture was tweeted by @BJPLucknowBJP
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14:43   Jaitley, revenue secy will monitor banking ops in Modi's absence
Prime Minister Narendra Modi has entrusted the task of supervising the demonetisation exercise in his absence to Finance Minister Arun Jaitley.   

For the three days that Modi will be away in Japan on official visit, the task of supervising the banking operations, vis--vis issuance of new notes and smooth transition from old notes to new notes, has been entrusted to Revenue Secretary Hashmukh Adhia. 

Air India One's communication system has been boosted with the installation of new equipment with a very high frequency range from Israel, and this was made operational by the DoT's tech team during the PM's flight for any emergency communication with Jaitley and North Block.
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14:21   Tata Sons' letter bomb: Mistry betrayed trust, sought control of group
Hours after Tata Sons replaced Cyrus Mistry as chairman of Tata Consultancy Services on Thursday, the group accused him of betraying their trust and allegedly desired to to seek control of main operating firms of Tata Group.

Tata Sons released a statement blaming Mistry for systematically excluding other representatives from the board. In the last four years, it said, Mistry planned and executed his strategy to become the sole representative of the group.


"Under Mistry, Group's over 100-yr-old structure consciously dismantled, firms drifting away from promoters, shareholders," Tata Sons said.


Earlier today, Tata Sons appointed Ishaat Hussain as chairman of TCS till a new replacement was found. The group convened an exraordinary general meeting to remove Mistry as chairman. TCS informed the stock exchange and its shareholders about the development.
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13:57   Maha snub! Mulayam rules out mahagathbandhan after Prashant Kishor meeting
Samajwadi Party will not form any alliance, Mulayam Singh Yadav says days after meeting Congress strategist Prashant Kishor.


The Samajwadi Party supremo and Congress poll strategist Prashant Kishor held a closed-door meeting with UP Chief Minister Akhilesh Yadav fuelling speculation that a grand alliance could be on the anvil for the 2017 assembly polls in Uttar Pradesh.

The meeting assumes significance as the 43-year-old chief minister is expected to have a major say in ticket distribution and choice of seats to be contested by his party in case an alliance is cobbled together.


There has been speculation of a 'mahagathbandhan (grand alliance) among erstwhile Janata Parivar parties and the Congress to check the Bharatiya Janata Party. In its tracks Kishor met Akhilesh and was with him for nearly three hours during which they are understood to have discussed threadbare the state's political scenario ahead of the upcoming elections.


However, Akhilesh sounded cautious and not in a hurry when he said factors like who will benefit and who will lose in case of an alliance have to be considered.


"Elections are near, who will be benefited, who will lose (in alliance) is to be taken note of. The decision is to be taken by party's national president," Akhilesh told reporters while refusing to publicly state his stand on the issue.


"I will give my suggestions only at party platform," he said.

When asked specifically about the possibility of the Samajwadi Party joining the hands with the Congress, Akhilesh parried a direct reply, saying "If the SP and the Congress want alliance, will you (media) stop it?"

He did not elaborate on the query made against the backdrop of Kishor's two rounds of meeting with Mulayam on Sunday, triggering speculation of a 'mahagathbandhan' similar to the one in Bihar.

Kishor's back-to-back talks with Mulayam and Akhilesh come close on the heels of top leaders of socialist-leaning parties attending SP's silver jubilee meet -- a move seen as an attempt by Mulayam to forge an alliance for the crucial polls hardly a few months away.


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13:40   Dont's pass order on demonetisation without hearing us out: Govt tells SC
The Centre on Thursday filed a caveat in the Supreme Court asking it not to pass any interim order without hearing its argument on the demonetisation issue.


A Public Interest Litigation (PIL) was filed by a Supreme Court advocate Sangam Lal Pandey on Wednesday.


Prime Minister Narendra Modi on Tuesday announced that circulation of these notes have been stopped and said that the measure was warranted to tackle black money.


Secretary Economic Affairs Shaktikanta Das had asserted that the decision was bold and decisive that would help to curb the fake Indian currency notes and the usage of black money fuel inflation.


"The decision to cancel the legal tender scatters of Rs. 500 and Rs.1,000 notes is a very bold, powerful and decisive step to fight the menace of black money and the use of fake Indian currency notes. Counter fate fake Indian currency notes for financing of terrorism," Das said .


Image: A crowd outside ICICI Bank waits to get their high-value notes exchanged. Pic: Prasanna D Zore/Rediff.com
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13:37   Young happy, middle-aged unhappy with demonetisation: IB survey
60% of 45-60 year-olds critical of PM's demonetisation move, reveals IB survey

Soon after the government made the announcement of demonetising Rs 500 and Rs 1,000 notes, the Intelligence Bureau carried out a snap poll to gauge the mood of the nation.

Here are the results of the poll:

-- People in the age group  25-30 are happy with the decision. The IB report suggests that 80 per cent of the people welcomed the decision. The introduction of digital transactions such as PayTM and Ola Money also pleased the younger generation.

-- Sixty per cent in the age group  45-60 were critical of the decision, but welcomed the move as it would root out black money.

The results of this snap poll were collated and submitted to the Prime Minister's Office on Wednesday night, a day before PM Modi left on his three-day visit to Japan.
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13:05   PM Modi pays respects to mortal remains of late Thai king
En route to Japan, Prime Minister Narendra Modi today made a surprise stopover in the Thai capital to pay his respects to revered King Bhumibol Adulyadej, who died last month after a protracted illness. 

Prime Minister Modi lay a wreath and paid his final respects to the late King Bhumibol, whose body is lying in state at the Grand Palace complex here.

Modi was received at the airport by Thai Transport Minister Arkhom Termpittayapaisith.

Bhumibol, the world's longest ruling monarch, died aged 88 on October 13. He was adored by many of his subjects and seen as an anchor of stability in a kingdom rocked by turbulent politics.

A one-year mourning period had been announced in Thailand following the monarch's death.
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12:36   Michelle Obama urged to run for president in 2020
Michelle Obama is being urged to run for president in the next US election after Donald Trump stormed to victory in a seismic result that has shaken up the political system. 

The tributes to the First Lady and her husband Barack Obama are already pouring in in the hours since Trump was declared the 45th President of the United States.

Those dreaming of seeing a woman elected had their hopes crushed after Hillary Clintons shock defeat. The pressure is now piling on Michelle to reignite hopes of having the first woman at the helm of the White House by standing in the 2020 election
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12:06   Stop saying 'This isn't my America'. Sorry, it is
So this is America, after all. It's not the one many of us hoped we lived in right now, but it's the one verified by the electoral map, and it's the one that others of us have feared we lived in for a very long time.

Read full story HERE
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12:01   New Rs 1000 notes in a few months, says govt
In the next few months Rs 1000 notes will also be brought in with a new dimension and design, says Shaktikanta Das, Economic Affairs Secretary. 

Prime Minister Narendra Modi's announcement to demonetise Rs 500 and Rs1,000 notes currently in use has caused a panic among the public.  Finance minister Arun Jaitley holds a press conference on the demonetisation. Highlights...


-- Initial challenge was we had to reestablish the credibility of a decision making process as long as Indian economy was concerned.

-- For any government to function, the leadership is provided by PM and PMO and then different ministries have to act in accordance.


-- Decisiveness is the hallmark of this government. Government is not scared to take risks.

-- Despite decisiveness we have endeared our best to take as many decisions as possible through a large consensus.

-- One decision was that there were sectors that needed to be opened up for economic growth.

-- Making sure that state subsidies reach people and therefore rationalised, has been discussed. We implemented that.

-- It has led to lot of savings, we are still in the process of executing our taxation changes.

-- A lot is to be covered as far as GST is concerned.

-- The recent decision of the government to cancel 500,1000 rupee notes, we are trying to ensure that at the requisite replacement is available with people. There is no need to rush in initial days.


-- I indicated that the banking dept and RBI have taken all necessary steps to keep banks open till the extent necessary. Banks will be open on the weekends.

-- It is only those with large amounts of undisclosed money who will have to face the consequences under existing laws.


-- There will be an impact on small purchases for a few days, till there is adequacy of currency, but it is beneficial in long run.


-- I've explained the advantages yesterday, but overall I do feel that not withstanding the constraints of global economy, we are doing reasonably well.


-- This decision (scrapping of Rs. 500/1000 notes) will impact the spending habits of people.

-- There is no prohibition on any sector for dealing through cheques.

-- There are some sectors which are cash intensive and therefore there could be some impact on them but over a period of time, it will work out on its own.

-- Exchange limits are only for first 2 weeks, in any case whether agricultural transaction is dealt with cash or not, it would be tax free.


-- We have been doing our best in order to increase penetration in insurance.
Our effort is to implement GST from April 1. One issue of dual-control left to be sorted out, hopeful of a solution soon.
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11:38   I won't sugarcoat it -- this is truly horrible: Playwright Aaron Sorkin's letter to his daughter
Aaron Sorkin, the playwright and screenwriter behind the most inspiring TV president of all time, has published a letter to his 15-year-old daughter, Roxy, inVanity Fair that attempts to grapple with what a President Donald Trump means for America.


"I won't sugarcoat it -- this is truly horrible," Sorkin writes, laying out how this wasn't just a victory for Trump, but also for his supporters: "White nationalists. Sexists, racists and buffoons."


But instead of wallowing in depression or moving to Canada, Sorkin urges his daughter and other angry Democrats to "fucking fight" because "we're not powerless and we're not voiceless."


He adds, "I don't think this guy can make it a year without committing an impeachable crime. If he does manage to be a douche nozzle without breaking the law for four years, we'll make it through those four years. And three years from now we'll fight like hell for our candidate and we'll win and they'll lose and this time they'll lose for good. Honey, it'll be your first vote." 
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11:30   J-K: One terrorist killed in infiltration bid in Baramulla
At least one terrorist was killed in an infiltration bid foiled by the army in Rampur sector of Jammu and Kashmir's Baramulla. One AK-47 was also recovered. Search operation is currently underway.


On Wednesday, a soldier was killed in firing by the Pakistan Army in Machhal Sector of Jammu and Kashmir's Kupwara district.In retaliation to the firing, the Indian forces carried out fire assault with heavy weapons on many Pakistani posts.


Earlier on Tuesday, the Pakistan Army initiated indiscriminate and unprovoked firing on Indian Army posts along the Line of Control (LoC) in Naushera Sector.


In the ensuing unprovoked shelling, a Non Commissioned Officer Naik Prem Singh was martyred while Naik Harindra Kumar Yadav sustained grievous injuries and was immediately admitted to the hospital. However, the braveheart succumbed to his injuries at the hospital.


Naik Prem Singh, aged 26 years, is survived by his wife, The soldier hailed from Village Shahar, Tehsil Bayatu, District Barmer, Rajasthan.The other martyr, Naik Harindra Kumar Yadav, aged 30 years, is survived by his wife and three young children. Naik Harindra Kumar Yadav hailed from Ballia District, Uttar Pradesh.


Representational image.
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11:21   SC to hear plea against demonetisation
Supreme Court to hear next week a plea against demonetisation of Rs 1,000 and Rs 500 currency notes.Centre wants to be heard before SC passes any order on pleas against demonetisation.
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11:19   Kejriwal raises eyebrows over PM in demonetisation beneficiary Paytm ad
India woke up to several full page advertisements in national newspapers today by cash-free apps. E-payment apps Paytm and Freecharge, and Ola and Snapdeal had full page ads on the advantages they offered on cashless transactions.

Paytm went a step further and used PM Narendra Modi as its poster boy much like Reliance Jio did last month.

The mobile payment and e-commerce biggie Paytm has raked in big bucks in the last 24 hours of the PM's masterstroke against corruption. It registered a 1,000 percent growth in money added to e-wallets.


So the question being asked on social media is whether PM Modi is endorsing Paytm for a corruption-free India? No answers, yet. 


As Delhi CM Arvind Kejriwal points out in this tweet, "Paytm biggest beneficiary of PM's announcement. Next day PM appears in its ads. Whats the deal, Mr PM?"

Restaurant listing and food ordering app Zomato, and travel aps Ola and Uber also cashed in on the Rs 500 and Rs 1,000 rupee note ban.
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10:50   Deposits over Rs. 2.5 lakh to attract penalty on mismatch: Govt.
The government has warned that the cash deposits above Rs. 2.5 lakh threshold under the 50-day window could attract tax plus a 200 percent penalty if the cash deposited in bank accounts doesn't match with income declared.


"We would be getting reports of all cash deposited during November 10th to December 30th, 2016, above a threshold of Rs. 2.5 lakhs in every account. The Department would do matching of this with income returns filled by depositors and suitable action may follow," Revenue Secretary Hashmukh Adhia said.


Image: Sacks of burnt Rs 500/Rs 1000 notes in Bareilly.
"Penalty of 200 percent of the tax payable would be levied if the cash deposited in bank accounts don't match with income declared," he added.Any mismatch with income declared by the account holder will be treated as a case of tax evasion.


The Revenue Secretary further stated that small businessmen, workers need not worry about small amount of deposits up to Rs.1.5 or two lakh since it would be below taxable income.


He also said that persons buying jewellery have to provide the PAN number.


"To buy jewellery one has to give his PAN no; instructions have been issued to check with all jewellers to ensure that this isn't compromised. Action will be taken against those jewellers who fail to take PAN numbers from such buyers," Adhia said.


Union Finance Minister Arun Jaitley earlier in the day had said that deposits of the no longer functional Rs. 500 and Rs. 1,000 currency notes in bank accounts will not enjoy immunity from tax.


After the government's decision of withdrawing Rs. 500 and Rs. 1,000 banknotes to curb black money, corruption and counterfeit currency, Jaitley said that higher-denomination currency notes have to be deposited in bank accounts to get newer or smaller denomination currencies.


"Depositing the old currency notes in the banks will not provide any relief from taxation," said Jaitley.
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10:40   Mumbai: Management colleges take Tata-Mistry fallout as topic of case study
Management colleges in the city have taken up the recent Tata-Mistry fallout as a case study to engage students taking courses such as organisational behaviour and strategic management. After the board of Tata Sons, the country's largest conglomerate, removed former managing director Cyrus Mistry from his post, the move has become subject of classroom discussions in in B-schools.
Read more
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10:27  
JUST IN: Govt calls for all-party meeting on November 15 to discuss on upcoming Parliament session; PM Modi likely to attend the meet.
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10:26   Massive queues at banks, ATMs as India rushes to exchange scrapped notes
A day after banks reopened in the wake of Prime Minister Narendra Modi's decision to scrap Rs 500 and Rs 1,000 notes on Tuesday, every bank and ATM in the country saw large crowds queuing up to exchange these notes. The PM had announced that that people can exchange or deposit their old notes in banks starting Thursday, 11 November. On Wednesday, the Reserve Bank of India announced that banks will be open for public dealing on weekends as well.


The new Rs 500 banknotes, which will be issued by banks from today, have extra security features besides having peculiar colour, theme and size which differentiate the new bills from the earlier series.


The Rs 2,000 notes, which are being introduced for the first time, will be of magenta colour with Mangalayan imprinted on the reverse side.

And recuperating from a double whammy of Trump win and the Centre's black money crackdown, Sensex today soared over 390 points and Nifty topped the 8,500-level in early session, tracking a rally in global equities.
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09:58   Rupee hits new 2-month high of 66.34 vs USD
The rupee strengthened by 9 paise to quote at fresh two-month high of 66.34 against the US dollar in early trade today on increased selling of the American currency by exporters and banks amid a higher opening in the domestic equity market.


Forex dealers said weakness in the dollar against some other currencies overseas also supported the rupee. Further, a higher opening in the domestic equity market gave the uptrend some momentum, they added.
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09:56   PM leaves for Japan
Prime Minister Narendra Modi today embarked on a three-day visit to Japan during which the two countries are expected to sign a civil nuclear deal besides discussing ways to step up cooperation in areas like trade, investment and security. In his second visit to Japan as Prime Minister, Modi will be holding the annual Summit meeting with his counterpart Shinzo Abe and have an audience with the Emperor of Japan in Tokyo.
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09:56   Donald Trump Has Broken the Constitution
"Donald Trump ran on a platform of relentless, thoroughgoing rejection of the Constitution itself, and its underlying principle of democratic self-government and individual rights. True, he never endorsed quartering of troops in private homes in time of peace, but aside from that there is hardly a provision of the Bill of Rights or later amendments he did not explicitly promise to override, from First Amendment freedom of the press and of religion to Fourth Amendment freedom from "unreasonable searches and seizures' to Sixth Amendment right to counsel to Fourteenth Amendment birthright citizenship and Equal Protection and Fifteenth Amendment voting rights."

Read more
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09:51  
People throng banks as they reopen for the first time after the government  withdrew Rs 500 and Rs 1000 notes. People pose with the new Rs 2000 notes.
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09:47   Sensex recovers a day after 1.75 lakh crore loss
Markets open, Sensex up 303 points, currently at 27,556. Nifty currently at 8,536.45.

Yesterday, stock market investors became poorer by Rs 1.75 lakh crore on Wednesday amid sharp sell-off in key indices after Donald Trump's victory in the US election and the government's decision to withdraw high-value currency notes.

The overall investor wealth measured in terms of valuation of all listed stocks on BSE fell Rs 1,75,192 crore to Rs 1,09,68,808 crore at the end of trade.

During the morning session, the total investor wealth was down by nearly Rs 6 lakh crore.

Market sentiment took a hit also on the government's sudden action to ban Rs 500 and Rs 1,000 currency notes in order to curb black money.

After plunging about 1,689 points in early trade, the benchmark Sensex recovered most of the lost ground on buying at lower levels and ended with a loss of 338.61 points at 27,252.53.

From the 30-Sensex basket, 20 ended in the red led by TCS, while nine managed to stay in the positive zone. NTPC remained unchanged.


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09:35   'Not my President' rallies across America
Furious protesters hung effigies, chanted slogans as thousands gathered across the United States to protest against the shock election victory of Donald Trump.


Demonstrators descended on Union Square and Columbus Circle in New York City, chanting 'Black Lives Matter' and 'Donald Trump, go away, racist, sexist, anti-gay.' Trump's poll-defying win has sparked a wave of similar rallies across the country.


Protests are stopping traffic in the streets of Chicago, Illinois, while downtown Portland, Oregon, is overrun with disgruntled voters.  Outside the White House, a candlelit vigil is being held in protest against Trump's inflammatory and divisive brand of politics. Demonstrations are being held in at least seven cities.
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09:22  
Infiltration bid in Uri sector foiled, 1 militant killed: Army.
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09:21   Mass shooting at anti-Trump rally in Seattle, several injured
Mass shootings at an anti-Trump rally on Wednesday night in Seattle, Washington State.

Five people have been injured in shooting in Seattle, Washington, as hundreds of people took to the streets to protest US Republican candidate Donald Trump's victory in 2016 US election, the city's Fire Department reported. ​Two persons have reportedly been inflicted with life-threatening injuries.

The shooting took place at Pine Street and 3 Avenue. According to the Seattle Times, the anti-Trump march was simultaneously proceeding down "nearby streets."

Police have arrived at the scene, the newspaper noted, without specifying whether the shooting is related to the ongoing rally.

Seattle police reported of multiple victims in the incident, promising to release more details "as they become available." The investigation is underway.

Further details awaited.


Image: Seattle Fire Dept tweeted this picture of fire crews treating  patients brought with gunshot wounds. Two of the five patients have life-threatening injuries.
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09:14   Banks open to a deluge of customers
Banks and ATMs reopened after a day today and will stay open this weekend to help people swap 500 and 1,000 rupee notes which are now banned. Even before banking hours, people queued up banks to change or deposit their Rs 500 and Rs 1000 notes. Lakhs of people stuck with higher denomination notes were scrambling yesterday to buy provisions. 
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08:55   Before heading to Oval Office, Trump could head to court
Within a few weeks of winning the White House, President-elect Donald Trump could face another group of US citizens -- a federal jury in California, courtesy of a lawsuit by former students of his now-defunct Trump University who claim they were defrauded by a series of real estate seminars.

A hearing in federal court in San Diego is set for Thursday, and the trial is scheduled to begin November 28, barring any delays or a Trump decision to settle the case.

While presidents enjoy immunity from lawsuits arising from their official duties, the US Supreme Court has held that this shield does not extend to acts alleged to have taken place prior to taking office.
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08:31   Ishaat Hussain to replace Cyrus Mistry as chairman of TCS
Tata Consultancy Services has appointed Ishaat Hussain as chairman with immediate effect. Hussain will hold office until a new chairman is appointed. Cyrus Mistry ceased to be chairman. 

Mistry was removed as chairman of TCS early in November. The decision was taken in interest of the company, claimed Ratan Tata.


Tata Trusts, which holds 66 per cent of the stakes in Tata Group, was reportedly frustrated with the lack of vision presented before them by Mistry. There was an escalating concern regarding the future cash flows in the company. Tata was increasingly reliant on Tata Consultancy Services, one of the few profit making subsidiaries of Tata.
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08:01   Rs 400 for your Rs 500! Agents offer small notes with big cuts
Currency agents, who supply small denomination notes to traders and other retail businesses, said that the demand for Rs 10, 20, 50 and 100 has gone up manifold ever since Prime Minister Narendra Modi made the announcement to demonetize Rs 500, and Rs 1,000 notes.  

A currency changer at Khari Baoli -- the largest wholesale spice market in Asia -- said that they have raised their rates as demand has soared.

Many traders from Khan Market and Karol Bagh have already bought the bundles of notes we had. We are now short of Rs 100 notes," said the note changer. He is now giving back only Rs 400 for a Rs 500 note as against Rs 480 earlier.

Mahesh Jain, a tout, in a small shop near Fatehpuri Mosque, said he has been exchanging old notes for the past 40 years. He said he will now buy Rs 500 notes for only Rs 300. "I have increased the rate as I don't have enough notes left. I have stopped taking Rs 1,000 notes as I have only 20-odd Rs 100 notes left," he said.
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01:06   Obama faces a legacy nightmare
For President Barack Obama, Donald Trump's presidential victory is nothing less than a nightmare.

His longstanding vision for progressive change faced sharp and unexpected repudiation Tuesday night from voters still fuming at their perceived diminished prospects. By Obama's own admission, the major pieces of his presidential legacy are now subject to a gutting by a successor he resents deeply.

Now, the first black president will stand on the inaugural platform next to Donald Trump, who stoked divisions and preyed on people's racist fears, including through lies and insinuations about Obama himself.

His efforts on Hillary Clinton's behalf over the past month, unprecedented for a modern sitting president, reflected not only a desire to elect his former secretary of state. It was a chance to sell, again, his vision of a hopeful America and the progress inherent in a nation ready to elect its first African-American president.

Read more HERE

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01:06   It is possible for Trump to be a good President
Says Richard W Painter of the New York Times: I am one of millions of Republicans who voted for Hillary Clinton because much of what I heard Donald J Trump say on the campaign trail was nonsensical as well as hurtful to many Americans. But I take some comfort in thinking, while he will have to overcome many hurdles to be a good president, he can avoid being a bad president for two reasons.

First, he would not have gotten this far -- he is the first non-politician to be elected president since Dwight Eisenhower -- if he were lacking in intelligence.

Second, he very likely knows what the rest of us know: Most of the things he promised to do in order to get elected make no sense. And for that reason alone he may not do them. There is also the fact that even a Republican Congress may very well resist his policies, by, for instance, refusing to fund construction of the proposed wall bordering Mexico.

Read more HERE
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01:00   What now for progressives after Hillary's loss?
Liberal activists had been preparing for months to hold a President Hillary Clintons feet to the fire and make sure she stuck to the bold progressive agenda that had emerged from her bruising primary battle with leftwing senator Bernie Sanders.

Instead, on issues as varied as Wall Street reform, climate change, womens rights and criminal justice, they now face their worst-case scenario: a Trump administration and a Republican-controlled Congress.

Read more HERE

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00:59   Hillary wins the popular vote but loses the election, for the second time
Hillary Clinton will almost certainly end up earning more votes nationally than did Donald Trump. It's a weird twist on the "rigged system" claim Trump has regularly made; in this case, it's rigged to his benefit.

What's remarkable, though, is what happens when you stretch back a few presidential contests. Only once since 1992 has a Republican won the popular vote -- but three of those seven times, Republicans have won the White House.

Before 2000, the last time such a split occurred was in 1888.

Read more HERE

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