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Fri, 25 November 2016
Demonetisation: Taxmen can not impose 200 per cent penalty

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23:38   Oxford professor thinks Trump is a bigger psychopath that Adolf Hitler
Donald Trump has more psychopathic traits than Adolf Hitler, according to a a new study. 

Using a standard psychometric tool, Dr Kevin Dutton of Oxford University ranked both presidential candidates and a series of historical world figures.

Trump scored 171, achieving two more points than Adolf Hitler, after experts gave their suggestions on how each individual would have scored against a series of questions. 

Saddam Hussein topped the list, scoring 189, while presidential hopeful Hilary Clinton received a score of 152, placing her in the top 20 per cent. 

The method, known as the Psychopathtic Personality Inventory Revised, scores candidates based on eight traits, including fearlessness, stress immunity and cold-heartedness.

Study author Dr Kevin Dutton said: "Both great and terrible leaders score higher than the general population for psychopathic traits, but it is the mix of those traits that determines success.
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23:16   Edward Snowden loses Norway safe passage case
Edward Snowden's bid to guarantee that he would not be extradited to the US if he visited Norway has been rejected by the Norwegian supreme court.

The former spy contractor filed the lawsuit in April, attempting to secure safe passage to Norway to pick up a free speech award.

It had already been rejected by Oslo District court and an appeals court.

Snowden is a former National Security Agency analyst who leaked secret US surveillance details.

As a result, he is facing charges in the US which could put him in prison for up to 30 years.
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23:01   Demonetisation: Taxmen can not impose 200 per cent penalty
In order to make demonitisation drive more effective government will have to make amendments in Income Tax Act to give more teeth to IT officers. Experts believe until that is done demonitisation drive will not be able to fully achieve its goals.

At the time of launching, government had claimed it will charge both tax and 200 per cent penalty in case the person fails to explain the source of the income. However tax experts say presently in Income Tax Act there is no provision to penalise a person under Section 270A if the assessee deposits a certain amount in his bank account and claims it to be his or her income of the present year.

The person in that case will only be liable to pay a maximum tax of 50 per cent, as the IT Act has no provision to penalise the person 200 times. The person who deposits the amount and declares it as his income is only liable to pay the income tax and not the penalty.

Similarly in Jan Dhan accounts, if an account holder manages to explain how he acquired the amount then Income Tax official cannot slap any penalty.
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22:43   Govt deposited ex-soldiers OROP arrears 7 days after he killed self: Parrikar
Seven days after ex-serviceman Ram Kishan Grewal committed suicide on November 1 allegedly over One Rank One Pension issue, he government had credited the arrears of Rs 53,978 to his bank account, Lok Sabha was informed on Friday.

The concerned bank has informed that he was drawing a pension of Rs 22,608 per month, defence minister Manohar Parrikar said in a written reply when enquired about payment of the benefits of OROP to him.

He was entitled for revised pension of Rs 25,634 per month, under OROP. The total amount of arrears of Rs 53,978 on account of implementation of OROP has been credited to bank account of late Ex-Subedar Ram Kishan Grewal on November 8, 2016, he said.

The minister also said Rs 3020.97 crore has been spent this financial year as on November 12 on account of payment of arrears under OROP.

Grewal, a resident of Haryanas Bhiwani district, ended his life on November 1 by consuming poison on the lawns of a government building in Janpath.
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22:15   Nitish laments resignation of Nalanda Chancellor
Bihar Chief Minister Nitish Kumar today expressed sadness over resignation of Chancellor of Nalanda University George Yoe, saying the events unfolding at the varsity show "an environment of confusion".

Yeo, earlier in the day, had submitted his resignation letter to President Pranab Mukherjee, Visitor of the university, saying the varsity's autonomy was being affected.

The former foreign minister of Singapore had succeeded economist and Nobel Laureate Amartya Sen as the second Chancellor of Nalanda University.

Kumar said, "The events unfolding at NU show which way the university is going and an environment of confusion has been created."

"If everybody associated with the NU from the beginning leave, the core value of 'Idea of Nalanda' would be affected," Kumar, who is closely associated with development of the University in Rajgir, said.
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21:50   Congress leader files FIR against RBI Governor Urjit Patel
He couldn't draw enough money from the bank, so a Congress lawmaker and former royal in Rajasthan has filed a police complaint against Reserve Bank of India governor Urjit Patel.

Vishwendra Singh, 54, went to the police in exasperation after failing to withdraw Rs 10,000 from a bank in Bharatpur.

He stood in line at the Oriental Bank of Commerce for about an hour to withdraw new currency after the abrupt ban on Rs 500 and Rs 1,000 notes on November 8.

When Singh reached the counter, he alleges, he was told that the bank had only Rs 3 lakh in cash and could not offer him more than Rs 2,000, though he wanted Rs 10,000.

"The RBI knew of the demonetisation, then why did they not print adequate currency notes?" questions Singh, who wants charges of cheating and conspiracy against the RBI governor and a top official of the bank that disappointed him.

The RBI, he says, should be punished for not supplying enough new cash to banks.

"Though the police have accepted my complaint, they didn't register an FIR under cheating and criminal conspiracy against Mr Urijit Patel and the branch manager of the Oriental Bank at Bharatpur. I will now move the court," he said.

The police say they will file an FIR only after a proper investigation into Singh's complaint.
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21:27   6.7 magnitude quake strikes China's Xinjiang
A powerful 6.7-magnitude earthquake jolted Aketao County in the quake-prone Xinjiang Uygur Autonomous Region tonight, state media reported.

The quake hit Kizilsu Kirghiz Autonomous Prefecture in Xinjiang, state-run Xinhua news agency quoted the China Earthquake Networks Center as saying.

There was no immediate report of any casualty or damage.

The epicentre of the quake was located at a depth of 10 km.

The United States Geological Service measured the quake at 6.5 magnitude. 
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21:01   No proposal to restrict gold holding by individuals
The government is not considering any proposal to restrict holding of gold by individuals, a top finance ministry source said on Friday. Following the demonetisation of 500 and 1,000 rupee notes in a bid to crack down on black money, there were apprehensions among people that the government might impose some kind of restrictions on gold holding by individuals. There is no such proposal before the government on restricting domestic gold holding, the source said.

There were reports that many people have converted their black money into gold following the announcement of demonetisation of high denomination currency notes by Prime Minister Narendra Modi on November 8.

The government had earlier denied that there was any move to digitise personal lockers in banks amid rumours in social media that they would be opened in only in the presence of revenue officials.
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20:36  
JUST IN: Jammu-Kashmir high court directs state government to release activist Khurram Parvez, who has been in preventive detention under Public Safety Act since Sep 16
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20:35  
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20:10   Govt undertaking research to promote use of cow urine, LS told
In order to promote use of cow urine for its anti-cancer and anti-infective properties in ayurvedic medicines the government has undertaken several research and academic activities, the government informed Lok Sabha said.
"Council of Scientific and Industrial Research through its constituent laboratories has conducted research studies in collaboration with Go Vigyan Anusandhan Kendra, Nagpur, on cow urine distillate for its antioxidant and
bio-enhancing properties on anti-infective and anti-cancer agents and nutrients," MoS for AYUSH Shripad Yesso Naik said.
A pharmaceutical product containing cow urine distillate with anti-oxidant property is available in the market and that four US patents have been secured since 2002, he said.
The statement explained how cow urine is used commonly in ayurvedic medicines.
"Panchagavya is a classic collective name of five products obtained from cow viz milk, curd, ghee, urine and dung. Cow urine is ingredient of several Ayurvedic formulations and also used as adjuvant with medicinal formulations and for pharmaceutical processing called Shodhana (Purification) and Bhavana (Trituration) of medicinal materials," Naik said.

This is also a part of course curricula at Ayurvedic institutes and a topic of several research studies.
"Panchagavya and its ingredients are part of the course curricula of Ayurvedic studies at degree and post-graduation levels. Opportunities of postgraduate and postdoctoral research as well as extramural research on Panchagavya are available to the interested scholars and scientists," he said.
For regulatory purposes the licensing and quality control provisions for medicines made from cow's products are prescribed in the Drugs and Cosmetic Rules, 1945, the minister added.
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20:08   'Sarkar 3' to release in March 2017
Megastar Amitabh Bachchan-starrer "Sarkar 3" is all set to hit theatres on March 17 next year.

The Ram Gopal Varma-directed film is the third installment in the "Sarkar" franchise. 

"Hum wahi karte jo hume sahi lagta 'Sarkar 3' releasing March17th. Eros International Presents .. Produced by Allumbra Entertainment/Wave Cinemas," Varma posted on Twitter. 

Besides Bachchan who returns as Subhash Nagre, the film also stars Manoj Bajpayee, Jackie Shroff and Yami Gautam.
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20:07   PM living in virtual world; should wake up to real world: Congress

Congress today took a dig at Prime Minister Narendra Modi asking people to go for mobile and internet banking and wondered whether the premier had any idea as to how many Indians had internet connectivity.
"Better come out of your virtual world to the real world," the party asked the Prime Minister.
Reacting to Modi's remarks made during a speech in Bathinda today, party spokesperson Manish Tewari said, "Modi asking people to go for internet banking when most of them did not have even bank accounts was akin to the French Queen Marie asking the poor to eat cake when she was told they did not have bread to eat.
He asserted that the Prime Minister was far removed from the grass-roots realities of India.
He suggested to Modi that he should first try to find out how many Indians were having bank accounts, had access to the banks and the internet, before asking them to go for internet banking.
"Since the Prime Minister spends most of his time in the virtual world with his Twitter handle, he seems to be oblivious of the real world which is queueing up outside the banks waiting for hours to get their own money," he observed, while urging the Prime Minister to come out of the virtual world into the real world.
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19:54   Ranveer Singh apologises for 'sexist' ad
Actor Ranveer Singh, whose new advertisement for a menswear brand has been slammed on social media, feels sorry for what has happened and said that he respects women a lot.
In the latest advertisement of Jack and Jones, Ranveer, 31, is seen lifting a woman on his shoulders with the tagline 'Don't hold back. Take your work home.'
The advert was slammed by many for being sexist and for showing insensitivity towards sexual harassment of women at the workplace.
"It was important to give the brand the creative freedom while designing the campaign but I guess we got it wrong on one of those billboards. I am sorry this happened but it is a thing of past. We rectified it immediately by having the hoarding taken down as early as possible from over 30 cities overnight," Ranveer said in a statement.
"I treat all women with utmost respect both professionally and personally and would never do anything to disrespect them," he said.
Earlier, actor Siddharth critised the advertisement in a tweet, saying, "A new low for women's rights in the workplace in India. What were they thinking? #Fail."
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18:51   Dy CM of Punjab will be from dalit community: Kejriwal
In an attempt to woo dalit community in the state, Aam Aadmi Party National Convenor Arvind Kejriwal today said that a Dalit will become the deputy chief minister of Punjab if his party comes to power in state assembly polls scheduled next year.
He made this announcement at the launch of a dedicated manifesto for Dalits, which constitute nearly 25 per cent of the state's population.
"A Dalit will be the deputy chief minister when AAP comes to power in Punjab," said the Delhi chief minister, who has been campaigning in the state for the past few days.
However, there was no word on the chief ministerial candidate of the party.
AAP is being seen as a serious contender in the state that has given four MPs to the party in 2014 Lok Sabha elections.
As Kejriwal seeks to widen his influence outside Delhi, wooing the dalit community has been as a major aspect of party's poll strategy.
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18:45  
CBI registers case against AAP MLA Amanatullah Khan in Waqf Board recruitment scam.
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18:45   Modi a 'bad politician', spreading lies: Mamata
Stepping up her attack against Prime Minister Narendra Modi on demonetisation, Chief Minister Mamata Banerjee today called him "a bad politician and a worse administrator" who is spreading lies and relaxing even as the common people continue to suffer. 

"Modi ji has lost all credibility. A bad politician and even worse administrator. He is lying," she said in a statement. 

The Trinamool Congress chief, who is at the forefront of the opposition attack against the Modi government on the issue, said, "All opposition is united, and you are divided!" 

She also claimed that Rs 1.28 lakh crore had been lost forever due to the scrapping of Rs 500 and Rs 1,000 currency notes. 

"Shocking that Rs 1.28 lakh crore has been lost forever due to note-ban only in 'transactions' in the country, according to CMIE, a top research body. World-famous Moody's says 'note ban will badly disrupt economic activity'," she said.

"Common people are suffering miserably while Modi ji is relaxing and spreading lies," she said. 
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18:33   Some drugs, banned in other countries, allowed in India: Centre
Some drugs, which are banned in other countries, have been allowed to be sold in India subject to certain provisions, the Lok Sabha was informed today.
Minister of State for Health Faggan Singh Kulaste in a written reply said that the drugs which have been allowed are nimesulide, analgin and pioglitazone.
"Safety and efficacy issues relating to certain drugs which have been banned in some countries have been examined and some of these have been allowed for continued marketing subject to stipulated conditions or restrictions.
"They include Nimesulide -- the manufacture, sale and distribution of nimesulide formation for human use in children below 12 years of age has been prohibited in the country.
"Analgin -- The manufacture for sale, sale and distribution of analgin and its formulations containing analgin for human use was initially suspended into the country w.e.f June 18, 2013. Subsequently, the ban was revoked subject to the condition that manufacturers will be required to mention the following on their package insert and promotional literature of the drug," the Minister said.
Elaborating about the literature, the Minister said that "The drug is indicated for severe pain and pain due to tumour and also for brining down temperature in refractory cases when other antipyretics fail to do so" should be mentioned.
In case of Pioglitazone, the manufacture for sale, sale and distribution of the drug and formulations containing pioglitazone for human use was initially suspended w.e.f 18.6 2013.
Subsequently the suspension was revoked subject to condition that the manufacture shall mention "the drug should not be used as first line of therapy for diabetes" and the manufacturer should clearly mention in bold red in a warning box "Advice for healthcare professionals -- patients with active bladder cancer or with a history of bladder cancer and those with investigated haematuria should not receive pioglitazone" among others.

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18:25   Missing JNU student Najeeb's mother moves HC
The disappearance of Jawaharlal Nehru University student Najeeb Ahmed, whose whereabouts are not known since October 15, today reached the Delhi high court where his mother sought directions to the police and the government to produce him before the court.
Ahmed, 27, a student of School of Biotechnology at Jawaharlal Nehru University and a native of Badaun in Uttar Pradesh, went missing on October 15 following an on-campus scuffle allegedly with members of Akhil Bhartiya Vidyarthi Parishad the night before.
The petition came up before a bench of justices G S Sistani and Vinod Goel which issued notice to the Delhi government and the police asking them to explain their stand on the plea by the student's mother, Fatima Nafees.
The bench also directed Delhi Police to file a status report within three days.
Najeeb's mother, in her petition filed through advocate Ali Qambar Zaidi, sought the setting up of a "court appointed special investigation team of impartial officers of proven integrity from outside the state of Delhi" to take over the entire investigation from Crime Branch of Delhi Police.
Earlier, an SIT of Delhi Police was set up to trace the missing student on instructions of Home Minister Rajnath Singh.
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18:16   Rejected 43 HC judges due to adverse intel reports, says Centre
The government today defended its move to return to the Supreme Court collegium names of 43 candidates for appointment as judges in high courts, saying the decision was based on adverse intelligence reports and serious nature of complaints against them. 

"The major reasons for referring back 43 recomendees to the Supreme Court collegium on the appointment of judges are views of consultee judges, views of constitutional authorities, adverse Intelligence Bureau inputs, serious nature of complaints received against recommendees," Minister of State for Law P P Chaudhary told the Rajya Sabha in a written reply.

Out of the 43 names returned to it by the government for reconsideration, the Supreme Court collegium has "reiterated" its recommendation for 37, deferred three proposals while three other names are still with it.
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18:13   Shiv Sena seals tieup with breakaway RSS group for Goa polls
Goa Suraksha Manch, led by rebel RSS leader Subhash Velingkar, and the Shiv Sena today formally sealed their alliance to take on the ruling BJP in upcoming legislative assembly elections in the state. 

This is the first time that Uddhav Thackeray-led party is fighting Goa polls in an alliance with a local party.

The Shiv Sena, a key constituent of the National Democratic Alliance, is the oldest ally of BJP and also a junior partner at the Centre and in Maharashtra government. 

The announcement for the tie-up was made by Sena MP Sanjay Raut and GSM president Anand Shirodkar.

"Five seats would be contested by Shiv Sena, where we will whole-heartedly support them. The alliance is formed as both the political parties are like-minded and have the welfare of Goa at their heart," Shirodkar told reporters today.
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18:12   Whistle-blower forest officer finally gets Delhi posting
Indian Forest Service officer Sanjiv Chaturvedi, whose appointment as OSD to Delhi Chief Minister Arvind Kejriwal was shot down by the Centre, has been posted to New Delhi by the Uttarakhand government. 

Chaturvedi, a 2002-batch IFS officer of Uttarakhand cadre, was awaiting posting for past over three months.

He has been appointed as officer on special duty in Uttarakhand's Resident Commissioner's office and assigned work relating to the National Green Tribunal, an official order issued by the state government said. 

The officer, who had been at loggerheads with the Centre and had approached courts against some of the decisions of the central government of allegedly denying him due service- related benefits, was recently promoted as conservator of forests.

Chaturvedi's appointment assumes importance as at least 180 cases of alleged violation of environment norms in Uttarakhand, which has 70 per cent forest cover, are pending trials in NGT, officials said.
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17:34   Hong Kong Open: Saina Nehwal loses in quarters
Saina Nehwal loses to Hong Kong's Cheung Ngan 8-21, 21-18, 19-21 in quarterfinal in Hong Kong Open 2016. 

Now, PV Sindhu will take on Cheung in semi-final tomorrow.
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17:23   Flight operations resumes at Srinagar Airport
The air traffic at Srinagar airport fully resumed today -- more than a week after it was disrupted due to poor visibility because of dense fog. 

Normal flight operations took place today as visibility improved, Director Airport Authority of India, Srinagar airport, Sharad Kumar told PTI

Kumar said all 18 flights landed at the airport today, which then took-off as well.

The flight operations at the airport remained badly affected due to poor visibility over the past more than a week.

The operations were first hit on Thursday last week when the afternoon flights had to be cancelled due to poor visibility as a thick layer of fog engulfed the Valley. 

Afterwards, all the flights, except two on Saturday, were cancelled till Wednesday this week when the flight operations improved as four flights were able to land at the airport in the morning.

However, the afternoon flights were cancelled due to poor visibility. Five flights landed at the airport in the morning yesterday, but the afternoon flights were again cancelled.
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17:20   At least 31 dead in Iran train crash
At least 31 people were killed in Iran today when an intercity express was hit by another train while stopped at a station, the provincial governor said.

"The bodies of 31 dead have been identified and more than 70 people hospitalised," Mohammad Reza Khabbaz, governor of Semnan province where the collision happened, told state television.
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16:59   Deposits in Jan Dhan accounts rise to Rs 64,250 crore
Total deposits in Jan Dhan accounts have increased to Rs 64,252.15 crore, with Uttar Pradesh leading the chart with Rs 10,670.62 crore deposits followed by West Bengal and Rajasthan, the government said today.
The Centre also stressed that no public sector banks had given any instructions to their officials to deposit Re 1 or 2 to avoid zero balance in Jan Dhan accounts.
"As on November 16, 25.58 crore accounts with aggregate deposits of Rs 64,252.15 crore have been opened under Pradhan Mantri Jan Dhan Yojana  across the country," Minister of State for Finance Santosh Kumar Gangwar said in a written reply to the Lok Sabha.
Leading the pack of states, Uttar Pradesh has the highest number of account holders to the tune of 3.79 crore and therefore highest deposits of Rs 10,670.62 crore. It is followed by West Bengal with 2.44 accounts and deposits of Rs 7,826.44 crore.
Rajasthan comes at the third spot with 1.89 crore accounts and the deposit in these accounts totals to Rs 5,345.57 crore while Bihar with 2.62 crore accounts have deposits of Rs 4,912.79 crore as of November 16.
Out of 25.58 crore accounts, 5.98 crore (23.02 per cent) are zero balance accounts, he said.
"All public sector banks have denied giving any instructions to deposit Re 1 to 2 in the zero balance accounts," he said.
"Banks have been asked to ensure linkage of all PMJDY accounts with Aadhaar number in a time-bound manner. PMJDY envisages channelising all government benefits to the beneficiaries to all accounts opened under the Yojana and thus trying to bring down the zero balance in such accounts by transferring Direct Benefit Transfer (DBT)," he said.
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16:56   Unaccounted bank deposits face 50% tax,4-year lock-in
Unaccounted deposits in scrapped currency notes up to December 30 if declared to taxmen will attract 50 per cent tax, along with a lock-in of 4 years, sources said. 

In case the disclosure is not made and the unaccounted money is detected by tax authorities, it will be charged with 60 per cent tax and a longer lock-in period, the sources added. 

The proposal was considered by the Cabinet meeting chaired by Prime Minister Narendra Modi last night. 

"The government will introduce amendments to the Income Tax Act giving effect to this in the ongoing session of Parliament," a source said. 

 The government is keen to tax all unaccounted money deposited in bank accounts after it allowed the banned currency to be deposited in bank accounts during a 50-day window from November 10 to December 30, the sources added.
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16:53   Now withdraw Rs 2,000 cash per card at Inox multiplexes
Aiming to ease the cash crunch after the government's demonetisation move, Inox Leisure, a cinema exhibition chain, partnered with State Bank of India to provide withdrawal facilities at its multiplexes across the country using a debit card.

Inox will facilitate transactions at the 106 multiplexes across India, where people can swipe their debit cards to withdraw up to Rs 2,000 in cash per card per day. 

Inox said all applicable guidelines of the Reserve Bank of India with regard to cash withdrawals would be followed. While the facility will be available across 17 properties starting Friday, it will be made available at the remaining 89 properties over the weekend. 
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16:43   Thousands bid farewell to BSF jawan from Agartala
The body of BSF jawan Sambhu Satmura, who was martyred in a land mine blast in Kashmir last Tuesday, was flown to Agartala today and cremated with full state honours at the Battala burning ghat.

The body of Satmura (34), who was a havildar of F company of 107 Bn BSF in Kashmir, was flown by an Indian Airlines flight and taken to his ancestral house at Subhashnagar, where thousands of people paid floral tributes.

CPI-M leader and mayor of the Agartala municipal corporation Prafullajit Sinha, president of Tripura unit of BJP Biplab Deb, and TPCC president Birajit Sinha visited the house of the brave jawan, to pay their respects.

Satmura is survived by his wife, mother and two sisters
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16:40   Neil Prakash, Australia's most waned jihadist, arrested?
Neil Prakash, Australia's most senior ISIS recruiter, has been arrested in the Middle East, a media report said today, months after the US and Australia said he was killed in an American air strike in Iraq this year.

The New York Times reported that Prakash had been arrested in an unnamed Middle Eastern country.

The 25-year-old, who has gone by the name Abu Khaled al- Cambodi since joining ISIS in 2013, was thought to have been killed in an American air strike in Iraq in July.

Prakash, who was of Fijian and Cambodian descent, has been a prominent member of Islamic State in Iraq, and has sought to recruit Australians to carry out attacks. 

Quoting a senior American official, the Times said that US forces targeted Prakash earlier this year. Though he was wounded, he survived. "In the last few weeks, however, a Middle Eastern government arrested Mr. Prakash," another senior American military official was quoted as saying.

Prakash handed himself to Turkish authorities several weeks ago, the Australian Broadcasting Corporation said.

Image alongside used for representational purposes only.
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16:21   Brady Bunch star Florence Henderson dead at 82
The Brady Bunch's Florence Henderson has died from heart failure late on Thanksgiving Day, aged 82.

The Brady Bunch star who became the epitome of the sitcom mom playing Carol Brady from 1969 until 1974, and in multiple specials after that, died Thursday at a Los Angeles hospital of heart failure. She was 82.

Henderson was surrounded by family and friends when she passed, her manager, Kayla Pressman, told the Los Angeles Times. Pressman also told reporters that the actress had not been ill, so her death came as a shock.

Her icon status cemented forever by The Brady Bunch, Henderson was a frequent fixture on TV long after the classic series ended, at one point hosting her own talk show and, most recently in 2013, Who's Cooking With Florence Henderson.
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16:13   Scrapped notes worth Rs 1.12-cr seized from Pune bizman
Police in Pune seized cash worth Rs 1.12 crore, all in banned denominations of Rs 500 and Rs 1000 from a businessman in the city.

According to Lashkar Police Station, the businessman, Bharat Shah, wanted to convert his alleged unaccounted money through some agents at 25 per cent commission.

"We received a tip-off that Shah was planning to meet some people on MG Road on Friday morning to convert the cash," said a police inspector, attached to Lashkar police station.

Subsequently a trap was laid and Shah was detained for questioning.

"We recovered 22,444 demonetised notes of Rs 500 denomination and 28 demonetised notes of Rs 1000 denomination from him," the police official said.

"Though Shah is claiming that the cash seized from him are his savings, we suspect that it is unaccounted money, which he wanted to convert," said the officer.

Police said no case has been registered against Shah but Income Tax department has been notified about the seized notes.
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15:53  
Sensex soars 456.17 points to end at 26,316.34; Nifty surges 148.80 points to 8,114.30.
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15:53   RBI sets rupee reference rate at 68.4626 against US dollar
The Reserve Bank of India today fixed the reference rate of the rupee at 68.4626 against the US dollar and 72.3855 for the euro.

The corresponding rates were 68.6560 and 72.3840, yesterday.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 85.2222 and 60.32 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added. 
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15:30   Major fire at furniture market in Mumbai
A major fire broke out today at a furniture market near suburban Oshiwara in Mumbai. 

The blaze erupted at the furniture market situated on Relief Road, fire brigade sources said. 

Ten fire engines have been rushed to the spot to bring the blaze under control.

No casualties or injuries have been reported yet, the official said.

Further details were awaited. 
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15:05   Nitish supports demonetisation, says he sees both sides of the coin
Reiterating his support to the Centre's demonetisation decision, Bihar Chief Minister Nitish Kumar today described the move as a "courageous step" even as he admitted that "poor arrangements" in its implementation were causing hardship to the common man.

He also dismissed reports of "confusion or fissures" in the grand alliance in Bihar over the demonetisation issue. 

Kumar described the Centre's demonetisation decision as "sahsik" (courageous), which, he said, would help in the fight against black money.

However, the attack on black money would yield better results only when scrapping of notes is coupled with attack on benami properties and prohibition, the chief minister said. 

"While supporting demonetisation in principle, I, with equal strength, criticise the poor arrangements for its implementation due to which common man is facing hardship," Kumar, who is also the JD(U) National President, said.

"I am seeing a minus with plus whereas many others are seeing only minuses," he said.
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14:44  
Rajya Sabha adjourned for the day amid continued Opposition uproar over PM's remarks on blackmoney.
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14:33  
ANI reports: Nepal's Central Bank reduces exchange limit of Indian currency from 5000 to 2000 after India introduced new currency notes of 500/2000
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14:33   SC bans sale of firecrackers in Delhi-NCR
Just In: SC orders ban on selling of fire crackers in Delhi & NCR due to growing pollution in the region.

The court said that the sale of fire crackers should be enforced from today onwards till further order or any hearing by it.

The court has asked Central Pollution Control Board to file a reply within 3 months regarding harmful effects of fire crackers.
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14:25   Pakistani stage actress Kismat Baig shot dead in Lahore
A theatre actress has been shot dead by unidentified gunmen in Lahore, the capital of Pakistan's Punjab province.

Kismat Baig was returning to her house after performing at a stage play when gunmen riding a car and a motorcycle intercepted her and opened fire at her on Thursday  evening, police said.

She was shot eleven times in her legs, stomach and hands. Baig and her driver were rushed to the Services Hospital where she died because of profuse bleeding, police said. Her driver's condition is reported to be stable.

Police suspect that her 'estranged lover' may be behind her murder.

Investigating Officer Asghar Husain told reporters that it was a target killing.

"The attackers were waiting outside the theater and when she left for home they chased her," he said. "Kismat now you will not be able to dance," one of the gunmen said after spraying bullets on her legs, according to her driver.
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14:24   Veteran journalist Dileep Padgaonkar passes away
Just In: Dileep Padgaonkar, veteran journalist and a government-appointed interlocutor on Jammu and Kashmir, passed away in Pune this morning. He was 72 years old.
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14:17  
News18 reports: 2 cops killed in firing by terrorists at a police convoy in Kulgam, J&K
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14:11   PM 'spreading lies' on demonetisation: Mamata
Accusing Prime Minister Narendra Modi for "spreading lies" on the demonetisation issue, West Bengal Chief Minister Mamata Banerjee today claimed that Rs 1.28 lakh crore have been lost forever due to the scrapping of Rs 500 and Rs 1000 notes.

"Shocking that Rs 1.28 lakh crore have been lost forever due to note-ban only in 'transactions' in the country, says CMIE, top research body. World-famous Moody's says 'note ban will badly disrupt economic activity'," Banerjee said in a statement.

"Common people are suffering miserably while Modiji is relaxing and spreading lies," she said. 

Claiming that the Opposition has united in the movement against demonetisation, Banerjee yesterday said any movement was bound to succeed if people were involved in a massive way. 
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13:49   If I did something, ICC would have spoken to me: Kohli
Indian Test captain Virat Kohli today termed the ball tampering allegations against him as a ploy to "shift focus from the series" as "ICC would have spoken to him" had there been any iota of truth in the matter. 

At pre-match media conference, Kohli looked prepared with his answer the moment one of the English scribes asked him about the footage that shows him applying saliva to the ball. 

"I think it's just to take the focus away from the series to be honest. It happened in Australia when South Africa won the series. I'm surprised the issue of what I've been told came up in Rajkot but there was no mention until the result in Vizag," Kohli was polite but the sarcasm in his tone was not lost on anyone as he pointed what it meant to be poor losers.

"To me a newspaper article doesn't matter over the decision of ICC. We as cricketers respect that only. And allegations and speculations? I don't read newspapers so I'm not aware of these things, someone told me and I laughed it off. Some people are trying to take the focus away from the series -- good luck to them. But we're totally focussed on what we have to do," Kohli said firmly.
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12:53   PM at Bathinda: Your mobile phone is also a bank; use it
More highlights of the prime minister's speech:

* Black money & corruption has looted the middle class and deprived poor of their rights. I want to give poor their rights.

* I am doing everything possible to ensure the middle class is not exploited and the poor get their due.

* I am at a loss of words to thank people of country who gave tolerated great difficulties because of demonetisation.

* Your mobile phone is also a bank, it can be used for purchasing things, making payments

* Corruption and black money are harming the country like termites
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12:50   Veteran journalist Dileep Padgaonkar passes away
Just In: Dileep Padgaonkar, veteran journalist and a government-appointed interlocutor on Jammu and Kashmir, passed away in Pune this morning. He was 72 years old.
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12:43   At Bathinda, PM gives gyaan to Pakistanis... and warns them
After inaugurating an All India Institute of Medical Sciences hospital in Bathinda, PM Narendra Modi addresses the gathering:

* Social infrastructure is essential for the development of every nation; We need top quality schools and hospitals.

* The AIIMS plan has the potential to change the future of the youth and the coming generation for the good.

* AIIMS here (Bathinda) will benefit local areas. And this Government does not only stop at laying foundation stones, we complete all projects

* Whatever decisions we take when we are in power, we fulfil it during that period itself

* Pakistan is not far from here; look at the valour of our army jawans when they conducted surgical strike, it created havoc across border. Pakistan now knows fully well what the Indian Army is capable of.

* Want to speak to people of Pakistan once again; they must talk to their rulers; they must decide if they want to fight against India, then let's wage a fight against corruption, against black money, poverty.

* When school in Peshawar was attacked every Indian was sad; People of Pakistan should tell their rulers to fight corruption, fake notes.

* My farmers have the right over the water that flows through Indus, will strive to get that water back. For me, elections do not matter. I am more concerned about the welfare of the farmers.

* The fields of our farmers must have adequate water. Water that belongs to India cannot be allowed to go to Pakistan. Government will do everything to give enough water to our farmers
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12:35  
Lok Sabha adjourned for the day till Monday, November 28.
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12:27   Paytm suspends 'App POS' on data security concerns
Mobile wallet company Paytm has suspended its app that allowed small shopkeepers to accept payment through cards amid ongoing cash crunch, citing risks to customer data and privacy. 

The new feature was designed to eliminate the need for a physical point-of-sale (PoS) terminal or a card swipe machine, instead helping small shopkeepers use their smartphones to facilitate the transactions. 

However, soon after launching 'App POS' with much fanfare this week, Paytm rolled back the initiative after concerns were raised over security of customer's card details by the industry.

"Based on some suggestions from the industry, we have decided to add additional certifications and features before making it available to merchants. We will re-launch this product as soon as we have updated the product," the Alibaba-backed company said in a blogpost.

It further said: "Nothing is more important to us than customer data and privacy. We will always put this above all without fail."
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12:13  
Rajya Sabha adjourned till 2:30 pm as MPs continues to demand PM Modi's apology over his remark alleging Opposition parties in favour of black money
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12:09   Nalanda University Chancellor George Yeo has quit
Nalanda University Chancellor George Yeo has quit.

Yeo announced his resignation in a statement on Friday (Nov 25), citing the creation of a new Governing Board which he said was "a complete surprise" to him and to most members of the old Governing Board, and that he was "neither involved in the preparation nor consulted beforehand".

"When I was appointed Chancellor in July 2015, I was told that a new Governing Board would be formed under an amended Act, core aspects of which the Ministry of External Affairs sought my views on. The amended Act would have removed a major flaw in the current Act which in essence offers Governing Board seats to East Asian Summit countries making the highest financial contributions in the last three years," Mr Yeo said in the statement.

"This provision, which was never recommended by the Nalanda Mentor Group, would not have been a good way to constitute the Governing Board and was the reason the Government of India requested the Nalanda Mentor Group to continue functioning as the Governing Board for a number of years until the Act could be amended.

"For reasons not entirely clear to me, the Government of India has decided to form the new Governing Board with immediate effect before the Act is amended. This is of course entirely the prerogative of the Government of India," he added.

"The circumstances under which the leadership change in Nalanda University has been suddenly and summarily effected is disturbing and possibly harmful to the University's development. It is puzzling why I, as Chancellor, was not even given notice of it. When I was invited to take over the responsibility from Amartya Sen last year, I was repeatedly assured that the University would have autonomy. This appears not to be the case now." 
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11:58   Shoppers can rejoice as end of season sales will start early this year
End of season sales could start just before Christmas this year as demonetisation, early winter may force retailers to advance discount period. Typically, they start in the first or second week of January, when the New Year season ends, reports Raghavendra Kamath in Business Standard.

'Most retailers have seen a 20-25% decline in sales in the fortnight after demonetisation and some even witnessed up to 40% declines. But most retailers said their sales had stabilised. According to industry sources, retailers dealing in marriage merchandise are facing flat growth due to demonetisation,' he reports.   

"Winter has set in early in Delhi this year. So early discounted sales will help in improving the buzz for malls,' said Pushpa Bector, executive vice-president and head, premium malls, at DLF Utilities, tells Raghavendra Kamath.   

You can read the full report here.
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11:52  
PTI reports: Commotion in Lok Sabha as a man tries to jump over the fence of visitors' gallery into the House. Man nabbed by security personnel and whisked away.
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11:39  
Supreme Court to hear demonetisation issue on December 2; the Apex court is also likely to examine whether RBI notification was passed in accordance with law or not
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11:31   In November so far, MFs have pumped Rs 8,000 crore into equities
Mutual fund managers have invested a little over Rs 8,000 crore in stocks so far this month, amid weakness in the stock market, reports Chandan Kishore Kant in Business Standard, and they expect the market volatility to continue and to buy at lower prices.   

'The Indian markets are down nearly seven per cent in the past fortnight, due to uncertainty on how demonetisation will impact economic growth. Domestic MFs, with equity assets under management worth Rs 5 lakh crore, were seen buying frontline stocks such as Tata Motors, Infosys, Tata Consultancy Services, Maruti Suzuki, ACC, Ambuja Cements, ICICI Bank, Kotak Mahindra Bank, Asian Paints and State Bank of India. Most of these stocks have seen a sharp fall,' he writes.   

You can read the full report here.
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11:26  
Delhi HC says it would not go into the correctness of Centre's demonetisation policy as Supreme Court is seized of the issue.
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11:24   'PM must apologise': Opposition derails Parliament proceedings
Rajya Sabha and Lok Sabha adjourned till noon. 

Opposition parties in Parliament demanded that Prime Minister Narendra Modi come and apologise for reportedly painting them with the same brush as 'those hoarding black money.'

Speaking at a book launch event in Delhi, Modi said there has been little criticism of the demonetisation decision.

"But still some people are criticising saying that the government did not make ample preparation. I think that is not the issue that the government did not make ample preparation. I think the pain of such people is that the government did not not give a chance to make any preparation," Modi said.

"If these people had got 72 hours to make their preparation then they would have lavished praise that there is no one like Modi," he stressed.
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10:39   Cash exchange window is open at RBI counters
RBI has just issued a statement on exchange of old currency notes:

"The Reserve Bank of India advises members of public that exchange of banknotes in 500 and 1000 rupee denominations, whose legal tender status has been withdrawn, will continue to be available at the counters of the Reserve Bank upto the current limits per person as hitherto."
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10:33  
ANI report: Fire broke out at a chemical factory in Navi Mumbai; 15 fire tenders at the spot. Flames now under control.
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10:19  
ANI reports: Sri Lankan Navy damages nets, GPS & other equipment of Indian fishermen near Katchatheevu earlier today; fishermen returning to Pamban,TN.
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10:07   Sensex recovers as December F&O series takes off
The benchmark BSE Sensex recovered by over 150 points (at 10:10am) points and the Nifty reclaimed 8,000-mark in early trade today on fresh buying by investors as the December derivative contracts started on a better note amid mixed Asian cues.

However, investors have been cautious for the past few sessions as the rupee plunged to a record low of 68.86 (intra-day) against the dollar yesterday as the demonetisation after-effects played out and concerns grew about a possible Fed rate hike in the near term.

The 30-share Sensex, which lost 191.64 points in the previous session, recouped 120.64 points, or 0.46 per cent, at 25,980.81 with sectoral indices of BSE led by metal, realty, IT, PSU and consumer durables were in the positive zone, rising by up to 1.42 per cent.

The NSE Nifty went up by 42.75 points, or 0.53 per cent, to 8,008.25.
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09:37   2 terrorists, soldier killed in Bandipora encounter
Two terrorists and an Army soldier were killed on Friday in an ongoing encounter between terrorists and security forces in north Kashmir's Bandipora district.

Police said troops of the 13 Rashtriya Rifles and special operations group surrounded Manzpora village at night following information about the terrorists' presence.

"With the break of dawn, the flushing out operation was started when the hiding terrorists opened indiscriminate fire causing critical injuries to a soldier, who later succumbed," a senior police officer said.

Two terrorists were killed in the operation, he said.

Firing exchange has stopped in the area, but a combing operation is on.
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09:32   Two variants of Rs 500 note surface, RBI says printing defect due to rush
Times of India reports: Just two weeks into circulation, there are already different variants of the new Reserve Bank of India Rs 500 notes, which experts fear could not only create confusion in the minds of the citizens but also aid counterfeiting -- countering which was one of the top objectives of Centre's demonetisation move and introduction of new notes.

TOI found at least three case studies where the new notes have been found to vary from one another. In case of one note Abshar (he goes by one name), a resident of Delhi, says: "There is a more than visible shadow of Gandhi's face, besides alignment issues with the national emblem on the note and even serial numbers."

RBI spokesperson Alpana Killawala, said: "It is likely that notes with printing defect has got released due to the current rush. However, people can freely accept such a note in transaction or return it to RBI."

Read more HERE

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09:31   Common citizen has become soldier against corruption: PM
PM Narendra Modi launches releases 2 books 'New Version of Constitution of India' & 'Making of Constitution' in Parliament House Annexe. 

In his remarks at the book launch, PM Modi said: 

"The common citizen of India has become a soldier against corruption and black money."

"Every person has a right to spend his or her money. No one can take anyone's money. People can spend through mobile technology also."

"People who have problem with demonetisation are angry because they were not informed before the decision was taken."

"Our Constitution has very special place in our lives; We remember Dr Ambedkar whenever we remember the Constitution." 

"November 26 was decided to be observed as Constitution Day to celebrate the Constitution and have greater awareness among the youth."

"Whenever we talk about Constitution, we remember Babasaheb Ambedkar, both are inseparable."

"It's important to be connected with the spirit of the Constitution, instead of just being aware of various articles of the Constitution."
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08:47   SC to hear plea by TN-based cooperative society against cash curbs
The Supreme Court will today hear a plea seeking a direction to the Centre and the RBI that a Tamil Nadu-based co-operative society be allowed to accept old demonetised currency notes and permit withdrawals. 

A bench headed by Chief Justice T S Thakur listed the plea for hearing tomorrow when the counsel said that it was an urgent matter as the member of the co-operative society has not been able to withdraw and deposit the money. 

The plea has been filed by a Villupuram-based N K Kumar that he has not been able to withdraw his money deposited with Gingee Primary Agricultural Society in the area.

The plea said that the co-operative society has been accepting deposits and has been maintaining locker facilities. 

It has sought an appropriate direction to respondents including the Centre and RBI to implement the regulation issued on November 8, 2016 which permitted financial institutions to pay to their customers having an account with them. 
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08:46   Modi likely to attend 'Yoga session' with top cops in Hyderabad
Prime Minister Narendra Modi is expected to take part in a 'Yoga session' along with top-ranking police officers on Saturday during the annual conference of DGPs from across the country.

Modi is likely to arrive in Hyderabad in the evening and after an overnight stay at Sardar Vallabhbhai Patel National Police Academy, he would take part in the 'Yoga session' on November 26 as part of the conference of Directors General of Police of all states.

"The Prime Minister will also take part in Yoga session, after which he would participate in deliberations with DGPs the whole day on Saturday," a top police official said.

Home Minister Rajnath Singh would inaugurate the three-day conference at SVPNPA today.
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08:39   What's making news today
* Encounter on between terrorists and security forces underway in Bandipora district in J&K.

* No over the counter exchange of old Rs 500 and Rs 1000 notes after midnight of November 24.

* The Supreme Court will today hear a batch of petitions challenging the demonetisation

* P V Sindhu, Saina Nehwal in quarter finals of Hong Kong Open 2016.

* PM Narendra Modi to release 2 books 'New Version of Constitution of India' & 'Making of Constitution' in Parliament House Annexe.

* PM Narendra Modi to lay foundation stone of AIIMS in Punjab's Bathinda. He will also address a public rally at Anandpur Sahib.

* Last rites of Rifleman Shashank K Singh, who was killed in action on LoC in Machhal sector (J&K), will take place today in Ghazipur, UP.

* Three-day Directors-General of Police Conference is all set to commence today at the Sardar Vallabhbhai Patel National Police Academy in Hyderabad. PM Modi will be present there.

* Watch out for Rediff.com's review of Dear Zindagi. Starring Shah Rukh Khan along with Alia Bhatt as the main protagonists, Gauri Shinde's directorial venture is all set to release today.
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00:21   Shia pilgrims among more than 80 killed in IS attack in Iraq
At least 80 people, many of them Shia pilgrims, have been killed in a truck bomb attack at a road stop in Iraq, a security official says.

The blast struck at a petrol station and restaurant near Hilla, some 100 km south of Baghdad.

Busloads of pilgrims had stopped there on their way home from commemorating Arbaeen in the holy city of Karbala. Many Iranians were among the dead.

The jihadist group Islamic State said it carried out the attack.
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00:02   Syria's White Helmets apologise for Mannequin challenge video
It's a familiar scene: Syrian Civil Defense, also known as "White Helmets," rushing to rescue a man covered in rubble, but unlike thousands of other videos from Aleppo, this one is staged.

The short video -- a take on the Mannequin Challenge -- was created by the Revolutionary Forces of Syria, an opposition media group, to draw attention to the crisis amid a renewed aerial assault on the besieged city.

More than 300 people have been killed in Aleppo's rebel-held eastern districts since the Syrian regime resumed heavy bombardment last Tuesday following a three-week lull.

The nearly one-minute long video has been the subject of criticism on social media. The Syrian Civil Defense released a statement calling it an "error of judgement".

"This video and the related posts were recorded by RFS media with Syria Civil Defense volunteers, who hoped to create a connection between the horror of Syria and the outside world using the viral 'Mannequin challenge.' This was an error of judgement, and we apologise on behalf of the volunteers involved," the statement read.

The Syrian Civil Defense was recently nominated for a Nobel Peace Prize for its work rescuing thousands of people since the Syrian conflict began over five years ago.

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