LIVE! Pvt bank ownership not desirable: ex-SBI Chairman

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Sat, 30 October 2021

Pvt bank ownership not desirable: ex-SBI Chairman

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21:01 PM Modi holds 'fruitful meeting' with Singapore's Lee Hsien Loong at G20 Summit

Prime Minister Narendra Modi had a "fruitful meeting" with his Singapore counterpart Lee Hsien Loong here on Saturday during which they reviewed the full range of the friendly ties between the two countries.

Modi, who is here at the invitation of his Italian counterpart Mario Draghi, met Prime Minister Lee on the sidelines of the G20 summit.

"A fruitful meeting between Prime Ministers @narendramodi and @leehsienloong in Rome. The two leaders reviewed the full range of the friendly ties between India and Singapore," the Prime Minister's Office tweeted.

On the sidelines of the G20 summit, Prime Minister Modi also exchanged pleasantries with several world leaders, including US President Joe Biden, British Prime Minister Boris Johnson, Canadian counterpart Justin Trudeau, German Chancellor Angela Merkel and South Korean President Moon Jae-in among others.

Italy has been holding the presidency of the G20 since December last year.

Allowing corporates to own banks in the country is not desirable due to the likely risks of related party transactions, former State Bank of India (SBI) chairman Rajnish Kumar said.

Kumar headed the country's largest lender for three years (October 2017 to October 2020).

"To me, in a country like India, allowing corporate houses to own banks is fraught with great risks. I believe that the licence of bank or bank ownership in the hands of corporates is not a desirable thing to do.

"We should have rightly-owned and professionally managed banks," he said at a webinar organised by the Centre for Financial Studies (CFS) of Bhavan's SPJIMR.

He was discussing his recently released memoir The Custodian of Trust.

Last year, an Internal Working Group (IWG) of the Reserve Bank of India (RBI) had recommended allowing large corporates/industrial houses as promoters of banks.

It, however, said large corporates should be allowed to own banks only after necessary amendments to the Banking Regulations Act, 1949 to prevent connected lending and exposures between the banks and other financial and non-financial group entities.

Kumar said even at a time even when corporates are not owning banks, there have been many instances of connected or related party transactions and over-exposures.

Asked whether industry houses which own NBFCs should be allowed to become full-fledged banks, he said one reason in favour of these entities is that they are well governed, but the issues around related party transactions still remain.

Speaking on the issue of 'telephone banking', Kumar said he had never faced a situation where a senior minister had called him for any loan approval.

"In three years (as SBI chairman), I did not face a situation where finance minister would call and ask me to do something that I had to say no to," Kumar said.

On the power sector, Kumar said the country brought public-private partnerships into the transmission segment, but the distribution sector, by and large, is still state-run.

He said there are huge issues around ATC (aggregate technical and commercial) losses, and the power industry ends up paying more due to power theft and subsidisation.

"We are in such a complex situation that we are unable to unravel this puzzle. There is a big mess around the pricing of the power and unless we are able to fix them, which is not easy, the power sector will never become healthy," he noted.

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20:19 Lieutenant, soldier killed in mysterious LoC blast

An officer and a jawan of the army were killed in a mysterious blast near a forward post along the Line of Control (LoC) in Rajouri district of Jammu and Kashmir on Saturday, officials said.

The blast took place in Kalal area of Nowshera sector when an army column was on patrol duty as part of measures to check infiltration of terrorists from across the border, the officials said.

They said the two army personnel, including a lieutenant, were critically injured in the explosion and immediately evacuated to a nearby military hospital where they died later.

They said the area where the explosion took place is dotted with landmines planted by the army as part of the counter-infiltration arrangement.

The nature of the explosion was not immediately known, the officials said, without ruling out the possibility of the use of improvised explosive device (IED) by terrorists to target the patrol team.

Confirming the explosion, a defence spokesman said further details were awaited.

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19:38 Modi-Macron discuss 'bilateral strategic ties' on sidelines of G20 Summit

Prime Minister Narendra Modi on Saturday met with French President Emmanuel Macron on the sidelines of the G20 summit here and the two leaders had "productive discussions" on the strategic bilateral ties and on a range of issues of mutual and global interests.

Prime Minister Modi, who is here at the invitation of his Italian counterpart Mario Draghi, was accompanied by National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar during his meeting with Macron.

"Productive discussions between PM @narendramodi and President @EmmanuelMacron on the sidelines of the @g20org Summit. India and France are cooperating extensively in various sectors. Today's talks will add momentum to the bilateral ties between the two nations," the Prime Minister's Office tweeted.

The two leaders "discussed India-France cooperation on various subjects and reaffirmed their commitment to the Strategic Partnership, Ministry of External Affairs Spokesperson Arindam Bagchi said.

They also discussed global and regional developments, he added.

The meeting comes more than a month after the two leaders held a telephonic conversation, amidst Paris' strong criticism of the AUKUS (Australia-UK-US) security partnership.

During the telephonic conversation last month, the two leaders had agreed to "act jointly" in the Indo-Pacific to keep the region stable, rules-based and free from any hegemony.

At the time, the two had reviewed the increasing bilateral collaboration in the Indo-Pacific region and the important role that the India-France partnership plays in promoting stability and security in the region.

They had vowed to maintain regular discussions to coordinate ahead of upcoming events, in particular the G20 and the COP26 on climate change, and continue with their joint actions against the COVID-19 pandemic.

18:48 No backend talks with Cong: Amarinder

Former Punjab chief minister Amarinder Singh on Saturday dismissed reports of backend talks with the Congress, saying the time for rapprochement is over and his decision to leave the party is final.

Singh reiterated that he will soon launch his political party and said he wanted to build "a strong collective force in the interest of Punjab".

"Reports of backend talks with @INCIndia are incorrect. The time for rapprochement is over. The decision to part ways with the party was taken after much thought and is final. I'm grateful to (Congress president) Sonia Gandhi ji for her support but will not stay in Congress now," tweeted Singh's media advisor quoting the former chief minister.

Singh was reacting to some media reports which suggested that some Congress leaders are engaged in backend talks to persuade him to remain in the party.

"I will soon launch my own party and will hold talks for seat sharing with @BJP4India (BJP), breakaway Akali factions and others for the Punjab (assembly) elections in 2022 once farmers' issue is resolved. I want to build strong collective force in interest of Punjab and its farmers," Singh said.

Farmers, mainly from Punjab, Haryana and Uttar Pradesh, are protesting at Delhi border points against three central farm laws, which were enacted in September last year, and are demanding these be repealed.

The former chief minister on Wednesday had said he would launch his new political party as and when the Election Commission clears the name and the symbol.

He had also slammed the Congress while claiming that many people from the party are in touch with him.

Punjab goes to polls early next year.

Singh had earlier said that he would soon launch his own party, and that he was hopeful of a seat adjustment with the BJP provided the ongoing farmers' stir against farm laws was resolved in their interest.

He had resigned as the Punjab chief minister last month amid a bitter power tussle with Punjab Congress chief Navjot Sidhu.

PTI Photo

18:21 What Narendra Modi gifted Pope Francis

Prime Minister Narendra Modi gifted a specially-made silver candelabra and a book on India's climate initiatives to Pope Francis on Saturday as they held their first one-to-one meeting here.

Modi explained to the 84-year-old Pontiff that the candelabra was specially made and the book is on climate change, an issue close to the Pope.

According to the Vatican News, the Prime Minister gifted the head of the Roman Catholic church a specially-made silver candelabra and a book, The Climate Climb: India's strategy, actions and achievements during their meeting which lasted for an hour.

The Pope reciprocated with a bronze plaque with the inscription The desert will become a garden, volumes of papal documents, his message for World Day of Peace and the document on Human Fraternity, signed on February 4 of 2019 in Abu Dhabi by the Pope and the Grand Imam of Al-Azhar, it said.

Modi is the first Indian Prime Minister to meet Francis since he became Pope in 2013.

This was the first meeting between an Indian Prime Minister and the Pope in more than two decades. In June 2000, late Prime Minister Atal Bihari Vajpayee had last visited the Vatican and met the then Pope, His Holiness John Paul II.

India and The Holy See have friendly relations dating back to the establishment of diplomatic relations in 1948. India is home to the second largest Catholic population in Asia.

Dattatreya Hosabale. Photograph: @RSSorg/Twitter

17:58 RSS says stop religious conversion, enact law

The Rashtriya Swayamsevak Sangh on Saturday said religious conversion should stop and those who change their faith should announce it.

The Sangh also said that it will welcome if any anti-conversion bill is passed.

"Conversion should be stopped and people who are converted have to announce that they have converted.

There are people who get converted and do not disclose that they have converted. They take double benefits," RSS general secretary Dattatreya Hosabale said at a press conference here.

He was talking to reporters at the conclusion of the three-day Akhil Bharatiya Karyakari Mandal (ABKM) meeting of the Sangh here.

Replying to a query on the RSS's stand on anti-conversion law, Hosabale said, "Why the minorities are opposing it is an open secret. Increasing the number by any methods, fraudulent or other such methods cannot be accepted."

He added that not only the RSS but also Mahatma Gandhi and others have opposed it.

According to him, there are more than 10 States which have passed anti-conversion bill in the country.

"In Himachal Pradesh, the Congress government passed a resolution. Virbhadra Singh was the Chief Minister and he passed the anti-conversion bill.

In Arunachal Pradesh, it was the Congress government who did it (passed anti-conversion bill). Gegong Apang was the Chief Minister," Hosabale claimed.

The RSS functionary said there always is a freedom for anyone to change the religion, "but what is happening today is not that."

He said former Prime Minister late Atal Bihari Vajpayee had given a call for a national debate on this issue.

A search operation to track down a group of hiding terrorists entered the 20th day on Saturday in the forest belt of Jammu and Kashmir's twin border districts of Poonch and Rajouri, where nine soldiers were killed in two separate attacks, officials said.

The operation in Bhatti Durrian in Mendhar along with Surankote forest in Poonch district and nearby Thanamandi in Rajouri started on October 11, they said.

A Pakistani terrorist, who was moved from the Kot Bhalwal Central Jail in Jammu to Mendhar on police remand for questioning in connection with the ongoing operation, was killed when the security forces accompanying him to identify a hideout came under fire from hiding terrorists on October 24.

The contact with the hiding terrorists was only established twice on October 11 at Surankote and Thanamandi and again at Bhatti Durrian on October 14, resulting in the killing of nine security force personnel, including two Junior Commissioned Officers (JCOs). Five of them were killed in Surankote and four in Mendhar.

After the firing on October 24 in Bhatti Durrian which left the Pakistani terrorist killed, there was no contact with the hiding terrorists even as a massive joint search operation by the army and the police continued and a hideout was busted leading to the recovery of an AK assault rifle, some ammunition and other articles such as food, blankets and shoes.

An army officer said there was no breakthrough against the holed-up terrorists who are avoiding direct contact with the search parties and are on the run taking advantage of thick foliage, natural caves and difficult terrain.

The entire forest area is under tight security cordon and the operation to neutralise the terrorists is going on, the officer said.

The officials said smoke was seen billowing from deep inside the forest at a few places after dry grass caught fire during the ongoing operation. The fire, however, was put off by the search parties.

Over a dozen persons, including two women, were detained so far for questioning after it came to light that they allegedly provided logistic support, including food and shelter, to the terrorists, the officials said.

Meanwhile, traffic between Bhimber Gali and Jera Wali Gali in Mendhar along the Jammu-Rajouri highway remained suspended as a precautionary measure for the 15th day on Saturday in view of the ongoing operation.

Rajouri and Poonch in Jammu region have witnessed a rise in infiltration attempts since June this year, resulting in the killing of nine terrorists in separate encounters.

Goa Congress/Twitter

17:06 Rahul's Goa tour: Lunch at roadside eatery, pillion ride

Congress leader Rahul Gandhi, who is on a day-long visit to Goa that will go to Assembly polls early next year, on Saturday had lunch at a roadside eatery at a village and then travelled on two-wheeler taxi for around five kilometres.

Gandhi arrived in the state on Saturday morning. After addressing the fishermen in South Goa, Gandhi ate lunch at a roadside eatery at Bambolim village on the Panaji-Margao highway. He was accompanied by Goa Pradesh Congress Committee president Girish Chodankar and Leader of Opposition Digambar Kamat.

After that, Gandhi took a lift from a motorcycle pilot, a two-wheeler taxi, to reach the resort, where he was scheduled to meet the people dependent on the mining industry in the state, which has stopped functioning following the Supreme Court's orders in 2018. He travelled on the two-wheeler taxi for almost five kilometres.

Gandhi will be addressing the Congress workers' convention later in the evening in Panaji.

Mumbai's Esplanade court issued non-bailable warrant against former Mumbai Police Commissioner Param Bir Singh and two others in an extortion case.

Details awaited...

16:32 COVID-19 watch: Top 15 worst affected states

Kerala and Maharashtra continue to remain among the top two worst-affected states.

Ahead of Diwali, The Vatican, seat of the Roman Catholic church, has greeted the Hindu community, expressing hope that interreligious solidarity can bring light in people's lives amid despair and uncertainty arising from the challenges posed by the pandemic.

The Pontifical Council for Interreligious Dialogue sent "its most cordial greetings" on Friday to all Hindus on the occasion of Diwali, also known as the festival of lights, on the theme "Christians and Hindus: Together bringing light into people's lives in times of despair."

Diwali will be celebrated on November 4 this year.

The statement comes as Prime Minister Narendra Modi on Saturday called on Pope Francis at the Vatican and had a very warm meeting and discussed with him a wide range of issues and also invited the Pontiff to visit India.

"May the observance of this feast even in the midst of anxiety and uncertainty arising from the present pandemic, and its resultant worldwide crises, light up your lives, homes and communities with the hope for a better future," it said in the statement.

The scars of the first and second waves of the pandemic, which upended the lives and livelihood of people, has left the people with a sense of resignation, despair and despondency and "we both Christians and Hindus can bring the light of hope in people's lives in such challenging times," it said.

"Bringing light together in people's lives through interreligious solidarity also validates the usefulness and resourcefulness of religious traditions in society," it said.

Noting that religious traditions, as repositories of wisdom, in times of crisis, have the power of lifting sagging spirits, the Pontifical Council said that they also have the capacity to help individuals and communities to reset their life's compass with hope, with their gaze fixed beyond their present despair.

It called on the religious and community leaders to nurture the spirit of fraternity among their followers with a view to helping them walk and work together with the people of other religious traditions, most especially during crisis and calamity of every kind.

"The power of solidarity unleashed in alleviating the suffering and assisting the needy, more so with an interreligious character and responsibility, gives visibility to the light of hope by putting in evidence the response which adherents of all religious traditions are called upon to make in times of despair and darkness," the statement said.

The Pontifical Council said that greater awareness about one another, interdependence and working solidarity can help the world emerge out of every crisis better.

"Even the pressing global issues that threaten to disrupt the harmony between nature and people and the harmonious co-existence of people such as climate change, religious fundamentalism, terrorism, hyper nationalism, xenophobia can be effectively addressed since these are concerns that affect us all," it said.

According to Johns Hopkins University data, there are more than 246,082,500 COVID-19 cases globally with over 4,990,300 deaths.

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15:19 Gunman kills Indian-origin pharma CEO for US$ 10k

An Indian-origin top executive of a pharmaceutical company in the US state of New Jersey was shot dead by a gunman who followed him home from a casino for robbery, media reports said on Saturday.

Sree Ranga Aravapalli, 54, a resident of New Jersey's Plainsboro, was killed shortly after arriving home by a gunman who, according to authorities, followed him from a casino outside Philadelphia at around 3:30 am (local time) on Tuesday, the CBC New York newspaper reported.

The "wealthy pharmaceutical executive" was followed for 50 miles (80 kms) from a Pennsylvania casino to his New Jersey home where he was murdered in an attempted robbery while his wife and daughter were sleeping, the New York Post newspaper quoted the police as saying.

Aravapalli cashed out his night's big winnings, about US$ 10,000, in the early morning hours of Tuesday at the Parx Casino in Bensalem when he was spotted with the loot by 27-year-old Jekai Reid-John, of Pennsylvania's Norristown, the Post report said.

The police have arrested Jekai Reid-John and charged him with first-degree murder.

Reid-John, who did not know Aravapalli, followed him in his car as he drove back to his quiet, affluent neighbourhood in Plainsboro, according to the Middlesex County Prosecutor's Office.

Plainsboro Township Police Department Chief Frederick Tavener offered his condolences to Avarapalli's family, who was reportedly well known in the local community.

"I want to offer my sincerest condolences to the Aravapalli family for their tragic loss. This is an unexpected and alarming event for their family, friends and our entire community," he said in a statement on Wednesday.

Aravapalli is survived by his wife, a son and a daughter.

Since 2014, Aravapalli was the CEO of Aurex Laboratories, which is described online as a pharmaceutical company that develops clinical supplies, tablets and soft gelatin capsules.

In a statement, Parx Casino CEO Eric Hausler condoled Aravapalli's death and said it is cooperating fully with local and state law enforcement agencies in both Pennsylvania and New Jersey and will continue to do so.

"We are deeply saddened by the report that earlier this week a customer of Parx Casino was the victim of a homicide at his home after returning from a visit to the casino".

"We have learned that law enforcement officials have arrested a suspect who followed the victim home from the casino that night. Our sincere condolences go out to the family and friends of the victim at this incredibly difficult time," Hausler said.

Neighbours said that Aravapalli and his family called their secluded community home for just a few years.

"It's crazy, I mean, unbelievable. How can somebody follow him all the way and come here and kill him in the night? It's so shocking," said neighbour Sheeza Khan.

It was very shocking for the whole community. It is scary, Khan said.

"Just a nice family man, always home and there with his wife and kids, and celebrating all the festivals.

"What we want to remember about him is that he gave everything. In his 54 years, I think, he probably gave more than most people would in a full 85-year lifespan," said Abhi Kanitkar.

Aravapalli's family laid him to rest on Thursday, the report added.

For the first time, the price of petrol crossed Rs 121 per litre in the border district of Madhya Pradesh, while the cost of diesel touched Rs 110.29 on Saturday.

According to sources in the industry, the price of petrol rose to Rs 121.13 per litre and the diesel cost reached Rs 110.29 per litre in Anuppur, while petrol crossed the Rs 120-mark in Balaghat.

The fuel prices have risen by 36 paise (petrol) and 37 paise (diesel) per litre in the last 24 hours, said Abhishek Jaiswal, a petrol pump owner in Bijuri town of Annupur, bordering with Chhattisgarh.

Petroleum is brought to Anuppur from Jabalpur oil depot, about 250 km from the district headquarters, making it costlier here in comparison to other parts of the state because of higher transportation cost, Jaiswal said.

Similarly, the price of petrol in Balaghat reached Rs 120.06, while diesel is being sold at Rs 109.32 per litre, petrol pump owner Manish Khandelwal said.

In Bhopal, petrol is being sold at Rs 117.71 per litre, while diesel cost is at Rs 107.13 per litre, it was stated.

ANI Photo/Twitter

14:22 Modi invites Pope Francis to visit India

Prime Minister Narendra Damodardas Modi had a warm meeting with Pope Francis at Vatican City, sources said.

The meeting between Modi and Pope Francis that was scheduled only for 20 minutes went on for an hour.

Modi, Pope Francis discussed wide range of issues aimed at making planet better such as fighting climate change and removing poverty.

14:06 Mullaperiyar dam shutters raised further

Shutters of the Mullaperiyar dam in Kerala, operated by Tamil Nadu, were raised further on Saturday morning as the water level in the reservoir rose to 138.90 ft, officials here said.

The three spillway shutters were raised to a height of 70 cm each and 1,675 cusecs of water was being released to the downstream, they said.

Earlier in the day, Kerala Water Resources Minister Roshy Augustine urged the Tamil Nadu authorities to draw more amount of water from the dam as there was no dip in the inflow.

He also wanted the neighbouring state to maintain the water level as per the Central Water Commission-approved Rule Curve.

After the further raising of shutters, the minister told media that there was no need for any anxiety among those living in the catchment area of Periyar river.

Even if they (Tamil Nadu) release four times more water than the present amount, it would not be a problem for Kerala, Augustine added.

Shutters of the the Mullaperiyar dam were raised on Friday as the water level in the reservoir crossed 138 ft.

Tamil Nadu government officials raised the spillway shutters 3 and 4 of the 126-year old dam by 0.3 metres around 7.30am.

Later at 9 pm, one more shutter of the dam was raised as the water level in the 126 year old dam continued to rise.

Mullaperiyar dam, built in 1895 on the Periyar river in Idukki district of Kerala, is operated by the Tamil Nadu government for its irrigation and power generation needs.

Kerala is insisting on building a new dam, citing safety concerns, but Tamil Nadu is against it, saying the present structure is strong.

ANI Photo/Twitter

13:32 Narendra Modi meets Pope Francis in Vatican

Prime Minister Narendra Modi on Saturday called on Pope Francis at the Vatican and discussed with him issues covering a range of areas of interest, including COVID-19, general global perspectives and maintaining peace and tranquility.

It is the first-ever one-to-one meeting between Prime Minister Modi and Pope Francis, the head of the Catholic Church.

Modi is also the first Indian Prime Minister Francis has met since becoming Pope in 2013.

At the Vatican, Modi was accompanied by National Security Advisor Ajit Doval and External Affairs Minister S Jaishankar.

The Prime Minister also met Cardinal Pietro Parolin, Secretary of State of the Vatican City State.

Ahead of the historic meeting, Foreign Secretary Harsh Vardhan Shringla on Friday said that the Prime Minister will have a separate meeting with the Pope.

"He will be meeting his holiness on a one-to-one basis," he said during a press conference in Rome.

"Tomorrow, the Prime Minister will pay a call on His Holiness, Pope Francis at the Vatican City, and thereafter, he will attend G20 sessions, where he will also hold more bilateral meetings and we will continue to keep you informed," Shringla said.

The meeting could, after a certain period of time, be followed up by delegation-level talks, he said.

"The Vatican has not set an agenda. I believe, tradition is not to have an agenda when you discuss issues with His Holiness. And I think we would respect that.

"I am sure the issues would cover a range of areas of interest in terms of the general global perspectives and issues that are important to all of us, COVID-19, health issues, how we can work together to maintain peace and tranquility and this is something that, I think would be the general trend in the discussions," the Foreign Secretary added.

Apprehensive over the outcome of the National Eligibility-cum-Entrance Test (NEET), a 20-year old medical aspirant allegedly died by suicide in the district.

K Keerthivasan of Sangarayapuram near here had appeared for the entrance exam held in September for the third time, results of which are expected in a couple of days.

According to police, the youth had taken up the test in 2019 and 2020, but could not clear. So he tried his luck for the third time this year.

With National Testing Agency publishing the answer key, the youth was said to be upset and told his parents that he may not be able to clear the test this year also, they said.

Despite the advise from his parents to wait for the results, Keerthivasan allegedly consumed pesticides on Friday afternoon and was admitted to Pollachi Government hospital. The doctors attending to the youth referred him to the Government hospital here, where he died at night, they added.

The finance ministry has invited applications to appoint the next chairman of the Securities and Exchange Board of India (Sebi) to succeed Ajay Tyagi, whose five-year term comes to an end in February.

Tyagi, a 1984 batch IAS officer of Himachal Pradesh cadre, was appointed as Sebi chairman on March 1, 2017, for a period of three years. Subsequently, he was given a six-month extension and later in August 2020, tenure was extended by 18 months.

In a public notice dated October 28, the ministry has invited applications from eligible candidates for the post of Sebi chairman for a maximum period of five years or till 65 years, whichever is earlier.

Applications of eligible candidates in prescribed proforma along with certified copies of required documents may be forwarded, through a proper channel (wherever applicable) on or before December 6, 2021 a public notice issued by the Finance Ministry's Economic Affairs Department said.

"Incomplete applications and applications received after the last date shall not be considered," it said.

In the past, the government has given extension to U K Sinha for three years, making him the second longest-serving chief of Sebi after D R Mehta.

In the case of Tyagi, the government issued appointment notification twice.

According to the first notification issued on February 10, 2017, Tyagi, the then Additional Secretary (Investment) in Department of Economic Affairs, was appointed chairman of Sebi for a period not exceeding five years or till the age of 65 years or until further order, whichever is earlier.

Subsequently, another notification curtailed his appointment to an initial period of three years.

As per the procedure for the appointment of regulators, the candidates will be shortlisted by the Financial Sector Regulatory Appointments Search Committee (FSRASC) headed by Cabinet Secretary.

The shortlisted candidates are interviewed by the panel comprising Economic Affairs Secretary and three external members having domain knowledge.

Based on interaction, FSRASC recommends name to the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi for approval.

ANI Photo

12:34 Modi's 'great interaction' with Italy's Indian diaspora

Prime Minister Narendra Modi on Saturday said that he had a great interaction with members of the Indian diaspora in Italy, including those who are studying about India and those who have developed a close bond with their home country over the years.

On the second day of his visit to Italy for the G20 Summit, Prime Minister Modi took to Twitter to share glimpses from the community interaction in Rome.

In Rome last evening, I had a great interaction with members of the Indian diaspora in Italy, those who are studying about India and those who have developed a close bond with our nation over the years. It was wonderful to hear their views on diverse topics, he said in a tweet.

Swamini Hamsananda Giri, the President of Sanatan Dharma Sangha, termed her meeting with Prime Minister Modi as moving.

It was (meeting with Prime Minister Modi) moving of course, because to be Hindu in Italy is not so easy but to meet the Prime Minister, it was a great honour for us. Hindus in Italy are in minority, she said.

The culture of India is a treasure for the humanity because it is a culture of ancient times since now for the whole human being and this is a culture of non-violence (Ahimsa), of harmony and respect for the nature and environment since the beginning of this culture, she said, adding that it is a culture for the welfare of human being.

As Sarvjan Hitaye, every human being, every being in the world has to live in harmony and in peace and we say Shanti, Shanti, Shanti.

To each of us he asked something very peculiar of us and asked what I like if we go to India where and what we like from India so and I said Tamil Nadu and he spoke to me in Tamil, Giri added.

Karnataka Governor Thaawarchand Gehlot and chief minister Basavaraj Bommai pay their tributes to the late actor Puneeth Rajkumar

ANI Photo/Twitter

12:17 Modi at the Vatican City to meet Pope Francis

Prime Minister Narendra Modi arrived in the Vatican City on Saturday to meet Pope Francis ahead of the highly anticipated Group of 20 (G20) Summit.

PM Modi is accompanied by National Security Advisor (NSA) Ajit Doval and External Affairs Minister (EAM) Dr S Jaishankar.

The Vatican is a city-state surrounded by Rome and is the headquarters of the Roman Catholic Church. While briefing about the Prime Minister's engagements in Italy, Foreign Secretary Harsh Vardhan Shringla on Friday said that there is no set agenda for the meeting between PM Modi and Pope.

Prime Minister arrived in Italy on Friday to participate in the two-day G20 Summit. This summit will be the eighth G20 Summit attended by the Prime Minister.

Prime Minister Modi today is scheduled to have a meeting with French President Emmanuel Macron and a meeting with the President of Indonesia Joko Widodo. PM Modi is expected to have a meeting with Singapore PM Lee Hosein Loong as well.

In the evening, PM is scheduled to arrive at Terme di Diocleziano for a cultural program. Later, there is a dinner planned for G20 leaders and partner countries.

Shringla on Friday had said that Prime Minister Modi will discuss the global economic situation, COVID-19 pandemic, sustainable development and climate change with G20 leaders.

On Friday, PM Modi met with top European Union leaders and Italian Prime Minister Mario Draghi. They congratulated Prime Minister Modi for India's excellent progress on the COVID-19 vaccination.

Prime Minister also interacted with members of the Indian community-based in Italy and those who have a close association with India through spheres like academics.

PM Modi will be in the capital city of Italy till October 31.

The country's foreign exchange reserves declined by US$ 908 million to US$ 640.1 billion in the week ended October 22, RBI data showed.

In the previous week ended October 15, the reserves had increased by US$ 1.492 billion to US$ 641.008 billion. The reserves had touched a lifetime high of US$ 642.453 billion in the week ended September 3, 2021.

In the reporting week ended October 22, the dip in the reserves was due to a fall in foreign currency assets (FCA), a major component of the overall reserves, and in the gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.

FCA declined by US$ 853 million to US$ 577.098 billion in the reporting week, the data showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Gold reserves were down by US$ 138 million to US$ 38.441 billion in the reporting week, the data showed.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) rose by US$ 74 million to US$ 19.321 billion.

The country's reserve position with the IMF increased by US$ 10 million to US$ 5.240 billion in the reporting week, the data showed.

11:41 Thousands pay tribute to late Puneeth Rajkumar

Thousands of grieving fans continue to flock the city's Kanteerava stadium on Saturday to pay their final respects to Kannada film star Puneeth Rajkumar, whose last rites is likely to be performed this evening.

Considered as the Kannada cinema's reigning star, Puneeth, youngest of the five children of thespian and matinee idol Dr Rajkumar passed away at the age of 46, after suffering a cardiac arrest on Friday.

Following in the footsteps of his father Rajkumar, the family has donated Puneeth's eyes.

Mortal remains of the actor, wrapped in the national tri-colour have been kept at the stadium to enable fans and well-wishers to pay their respects all day on Saturday. A steady stream of people from across the state have been pouring into the stadium since last evening.

Several film and political personalities have also paid their respects to the departed soul.

Karnataka Governor Thaawarchand Gehlot accompanied by Chief Minister Basavaraj Bommai and other ministers of the state cabinet were among those who paid their respects today.

"The feeling is like losing a son of our house," a tearful elderly woman fan said.

"Our Appu (as Puneeth is fondly called by fans) might have physically gone, but he will remain with us through his acting and the impact he has left on us because of his good and friendly nature," a young fan said.

The state government has announced that Puneeth's last rites will be conducted with state honours at Dr Rajkumar Punyabhoomi in Kanteerava studio, next to his father and mother.

According to sources, Puneeth Rajkumar's daughter is abroad and is expected to reach the city by Saturday evening, following which last rites will be held, as per the family's wishes.

The mortal remains will be taken in a procession from Kanteerava stadium at about 3 pm to Kanteerava studio, where the last rites will be performed.

The late actor is survived by wife Ashwini Revanth and daughters Drithi and Vanditha.

11:21 Aryan Khan is free; walks out of jail

Aryan Khan walks out of Mumbai's Arthur Road Jail three weeks after being arrested in drugs-on-cruise case

With 14,313 people testing positive for coronavirus in a day, India's total tally of COVID-19 cases rose to 3,42,60,470, while the active cases were recorded at 1,61,555, according to the Union health ministry data updated on Saturday.

The death toll climbed to 4,57,740 with 549 more fatalities, according to the data updated at 8 am.

The daily rise in new coronavirus infections has been below 30,000 for 36 straight days and less than 50,000 daily new cases have been reported for 125 consecutive days now.

The active cases comprise 0.47 per cent of the total infections, the lowest since March 2020, while the national COVID-19 recovery rate was recorded at 98.19 per cent, the ministry said.

An increase of 221 cases has been recorded in the active COVID-19 caseload in a span of 24 hours. The number of people who have recuperated from the disease surged to 3,36,41,175, while the case fatality rate has increased to 1.34 per cent. -- PTI

10:56 Aryan's release procedure completed: Officials

Aryan Khan's release procedure has been completed, said Mumbai's Arthur Road Jail officials.

He will walk of the jail any time now.

Megastar Amitabh Bachchan has paid a tribute to Kannada star Puneeth Rajkumar, saying that his sudden death following a heart attack was shocking.

Puneeth, the 46-year-old powerstar known for films such as Appu, Veera Kannadiga and Maurya, died in a hospital in Bengaluru following a massive heart attack.

He was the son of matinee idol the late Rajkumar and Parvathamma.

Bachchan took to his blog post late Friday evening and wrote he was saddened by two deaths of close ones -- Puneeth and that of a family friend.

"There have been two deaths of the near and dear since the morning and there is a grief that cannot be put in words. One of them, the news has been shocking.

"Puneet Rajkumar, the younger son of the legendary icon of Kannada cinema , Raj Kumar and a star in his own right, passed away today. He was just 46 years, and this has put all of us in great shock. The family of late Raj Kumar have ever been extremely close. My prayers condolences," Bachchan wrote.

The 79-year-old blogged that the other person who died was the mother of a family friend.

Puneeth, who was known to be a fitness enthusiast, was rushed to Vikram Hospital after he complained of chest pain following a two-hour workout in the gym, doctors treating him said. He died shortly after.

His death was mourned by Prime Minister Narendra Modi, Karnataka Chief Minister Basavaraj Bommai, Finance Minister Nirmala Sitharaman, Tamil Nadu Chief Minister MK Stalin and Kerala CM Pinarayi Vijayan, among others.

Several big names from the South film industry, including veteran actor Chiranjeevi, Mahesh Babu, Siddharth, as well as names from Bollywood like Ajay Devgn and Sanjay Dutt, also paid tributes to the actor.

Puneeth began his career as a child artist appearing in movies like Thayige Thakka Maga, Vasantha Geetha and Bhagyavantha.

He made his debut as a leading man with 2002 movie "Appu" and followed it up with movies like Abhi, Veera Kannadiga and Maurya, Ajay and Arasu. -- PTI

09:39 Veteran actor Yusuf Hussain dies at 73

Veteran actor Yusuf Hussain, known for featuring in films like Dhoom 2, Raees and Road to Sangam, passed away on Saturday due to COVID-19.

He was 73.

The actor passed away at Lilavati Hospital in Mumbai, Husain's son-in-law, filmmaker Hansal Mehta said.

Mehta took to Twitter and penned an emotional note for the actor, recalling how Husain had helped him financially after his feature Shahid was stuck after two schedules.

"I was troubled. A non-existent career as a filmmaker was almost finished completely. He just came up to me and said I have a fixed deposit and it is of no use to me if you are so troubled. He wrote a cheque. Shahid was completed. That was Yusuf Husain.

"Not my father-in-law but a father. He was life if life itself had to have a physical form. Today he is gone," Mehta wrote.

The filmmaker said he owes his "new life" to Husain and wrote he feels "truly orphaned today."

"Life will never be the same. I will miss you terribly. My Urdu will remain broken. And yes - love you love you love you," he added.

The veteran actor's credits also include films like Dabangg 3, Oh My God, I Am Singh and had also shot for Abhishek Bachchan-starrer upcoming thriller Bob Biswas.

Bachchan took to Twitter and also paid his condolences to the veteran.

"We worked together in several films starting with 'Kuch Na Kaho' and lastly on 'Bob Biswas'. He was gentle, kind and full of warmth. Condolences to his family."

Mehta's close friend and longtime collaborator, actor Manoj Bajpayee tweeted, "Sad News! Condolences to @safeenahusain @mehtahansal and the entire family! Rest in peace Yusuf saab."

Actor-filmmaker Pooja Bhatt wrote that Mehta's post about Husain had made her emotional.

"This brought tears to my eyes Hansal. Can't begin to imagine what you'll are feeling. My deepest condolences to all," she added.

09:34 Fans pay last respects to Puneeth Rajkumar

Fans in large numbers pay last respects to Puneeth Rajkumar at Kanteerava Stadium in Bengaluru.

09:22 Aryan Khan to walk out of jail around 10 am

Aryan Khan, son of superstar Shah Rukh Khan, is set to walk out of Mumbai's Arthur Road prison around 10 am today, a jail official said.

Earlier in the morning, officials opened the bail box outside the jail to collect Aryan's papers.

"The bail order box outside the prison was opened around 5:30 am and the officials collected six to seven bail orders, including those of Aryan. He is expected to be released within an hour," a jail source said.

While granting Aryan bail on Thursday in the drugs-on-cruise case, the Bombay high court imposed 14 bail conditions on him, paving the way for his release from jail.

Prime Minister Narendra Modi will hold a one-on-one meeting with Pope Francis on Saturday at the Vatican City ahead of the delegation-level talks during which they are expected to discuss a range of areas of interests in terms of the general global perspectives and issues such as COVID-19.

"The Prime Minister will have a separate call. He will be meeting his Holiness on a one-on-one basis. And that could, after a certain period of time, be followed up by delegation-level talks," Foreign Secretary Harsh Vardhan Shringla told reporters here on Friday while briefing the details of the Prime Minister's engagements in Italy.

Shringla said the Vatican has not set any agenda for the talks.

"I believe tradition is not to have an agenda when you discuss issues with His Holiness. And I think we respect that. I'm sure the issues that will be covered would cover a range of areas of interests in terms of the general global perspectives and issues that are important to all of us," he said.

"COVID-19, health issues, how we can work together...and this is something that, I think would be the general trend in the discussions," he added.

In his departure statement on Thursday, Modi said he will be visiting Rome and the Vatican City from October 29-31.

"During my visit to Italy, I will also visit the Vatican City, to call on His Holiness Pope Francis and meet Secretary of State, His Eminence Cardinal Pietro Parolin," Modi said.

From Rome, Modi will travel to Glasgow, the UK, at the invitation of British Prime Minister Boris Johnson. -- PTI

Actor Shah Rukh Khan has left his Mannat bungalow in Bandra for Arthur Road jail in central Mumbai ahead of son Aryan Khan's release.

Aryan Khan is likely to walk out of jail post 10 am after spending nearly a month in jail in connection with the drugs-on-cruise-case.

00:08 JNU cancels 'objectionable' webinar on Kashmir

The Jawaharlal Nehru University has cancelled a webinar on Kashmir since the subject was found to be 'objectionable and provocative', and the organisers had not sought permission for the event, vice-chancellor M Jagadesh Kumar said on Friday.

The Centre For Women's Studies at the university was to host a talk titled 'Gendered Resistance and Fresh Challenges in Post-2019 Kashmir'.

Ather Zia, a political anthropologist, author, poet, and activist was the speaker at the webinar.

'The notice of the webinar says 'this talk will draw and build upon the ethnography of gendered resistance to Indian occupation in Kashmir'. This is a highly objectionable and a provocative subject, which questions the sovereignty and territorial integrity of our country.

'JNU cannot be a platform to this kind of very questionable webinars. The matter is being inquired into,' Kumar said in a statement.

An immediate response was not available from the faculty members of the Centre For Women's Studies.

Kumar said, 'As soon as it came to our notice that an online webinar titled 'Gendered Resistance and Fresh Challenges in Post-2019 Kashmir' was going to be organised at 8.30 pm today by Centre for Women Studies, the JNU administration immediately instructed the faculty member organising the event to cancel it.'

Kumar said 'the program was cancelled forthwith and the faculty member did not seek the permission of administration before planning such an event'.

Meanwhile, the JNU unit of Rashtriya Swayamsevak Sangh-affiliated Akhi Bharatiya Vidyarthi Parishad demanded action against the chairperson of the Centre for holding such an event.

Rohit Kumar, secretary ABVP-JNU said, "We demand immediate action against the chairperson of the Centre for Women's Studies, concerned faculties and JNU registrar who allowed the program and who all have mindlessly organised such an webinar by twisting facts on the Union Territory of Jammu and Kashmir with the intention to create a distorted narrative on Jammu and Kashmir." -- PTI

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