17:26 RBI governor Urjit Patel steps down:
Breaking news: RBI governor Urjit Patel steps down citing personal reasons.
His statement read:
“On account of personal reasons, I have decided to step down from my current position effective immediately. It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Banks considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future.
Urjit R. Patel
10th December 2018″
The resignation comes after tensions between the RBI and the government mushroomed after RBI
Deputy Governor Viral Acharya said last month that undermining the central
bank’s independence could be “potentially catastrophic”, indicating the
authority was pushing back against government pressure to relax its
policies and reduce its powers ahead of a general election due by May.
The government had also invoked never-before-used powers to issue directions to the central bank governor on matters of public interest.
17:13 Shastri sets social media abuzz with ‘on air’ comment: India head coach Ravi Shastri could not keep his emotions in check after the historic first Test win at the Adelaide Oval and made a tongue-in-cheek comment on national television that quickly went viral on social media.
Speaking to Sunil Gavaskar, Michael Clarke and Mark Butcher, who were discussing the game in a television studio in Mumbai, Shastri came up with a rather interesting way to describe the tense moments of the game with Australia almost pulling-off a record chase.
“I just said in Hindi just a little while ago bilkul chhorenge nahi … Lekin thodi der ke liye wahan g*** muh mein tha (we will go for the kill … but for sometime we had our **** in our mouths),” said Shastri on air, describing his feelings after the hosts showed a lot of fight on day five and fell just 31-run short of the 323-run target.
The coach was expectedly happy with the hard-fought victory, also India’s first in the opening Test of a series in Australia. Moments after he expressed his feelings to Gavaskar and Co, his comment set the social media world abuzz. “Did Ravi Shastri just say ‘thodi der ke liye G*** Muh mei tha’ on national TV. Oh yes he did,” wrote Abijit Ganguly on Twitter. “Ravi Shastri the real Man of the Match #goti,” read another post. The former India all-rounder is also a seasoned commentator and was a familiar figure on the mic before taking charge as India coach. — PTI
16:38 Sensex tumbles as exit polls show Congress-BJP neck-and-neck :
Market benchmark Sensex buckled under heavy selling pressure Monday, plummeting 714 points as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections as also the bruised rupee and weak global cues further dampened sentiment.
The BSE Sensex cracked below the 35,000 mark, plunging 713.53 points, or 2 per cent, to close at 34,959.72. Similarly, the broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.
Exit polls for the recently concluded assembly elections have predicted a tight finish between the ruling BJP and the Congress in Madhya Pradesh and Chhattisgarh and a win for the opposition party in Rajasthan, impacting trading pattern on the domestic bourses in a big way.
Besides, a weakening rupee, which hit 71.44 per dollar intra-day, and fresh foreign fund outflows further pulled the key indices. All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks. — PTI
16:33 MP polls: Cong will win more than 140 seats, says Kamal Nath : A day ahead of the Madhya Pradesh assembly poll results, Congress state unit chief Kamal Nath on Monday expressed confidence over winning more than 140 seats. When asked about the chief ministerial candidate, Nath brushed it aside.
He told ANI: “We will win more than 140 seats. Wait till tomorrow; everything will be clear by then.”
However, incumbent Chief Minister Shivraj Singh Chouhan too had recently expressed confidence of the BJP winning the election.
In Madhya Pradesh, the majority mark is 116 for the 230-seat Assembly. According to exit polls, both BJP and Congress are going neck and neck but falling short of a clear majority.
The state went for voting on November 28, and the results will be announced on December 11. As many as 2,899 candidates were in the fray including 250 women and five third gender candidates. The tenure of the Assembly ends on January 7, 2019. The BJP has been in power in the state since 2003 and is seeking a fourth straight term. — ANI
Image: A poster seen outside the Madhya Pradesh Congress Committee office in Bhopal which seems to indicate that Kamal Nath will head the government in the state.
16:21 Kanimozhi wins Best Woman Parliamentarian award: DMK Rajya Sabha member Kanimozhi has bagged the “Best Woman Parliamentarian” award for 2018 by the Lokmat group. The Congress has not reacted to this announcement, and neither has the BJP, but social media was awash with criticism for selecting an MP who was jailed for corruption in the 2G case.
Kanimozhi was chosen for the award instituted by the daily, ‘Lokmat’.
Vice President Ram Nath Kovind is confer the award on Kanimozhi in the first week of January in the Central Hall of Parliament.
16:05 CBI gets 5-day remand of Christian Michel : CBI Special Court sends Christian Michel, the alleged middleman in the AgustaWestland case, to five days remand in Central Bureau of Investigation custody. “We need to confront him with LR (letters rogatory) that have been received from five countries. Christian Michel didn’t co-operate with the Italian investigation in the case.”
16:03 Hillary heads home : Hillary Clinton leaves from Udaipur after attending the pre-wedding celebrations of Isha Ambani and Anand Piramal in the city.
15:57 Offer to banks not bogus, says Mallya ahead of extradition hearing : Update on the Vijay Mallya case: A defiant Vijay Mallya, wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crores, Monday sought to disprove the narrative that he has “stolen” money and said his offer to repay the principal amount to the Indian banks was “not bogus”.
Mallya made the remarks while talking to reporters outside the Westminster Magistrates’ Court which is expected to deliver its verdict on his extradition after a year-long trial. The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April last year.
Chief Magistrate Judge Emma Arbuthnot is expected to give her verdict on whether Mallya can be extradited to India to stand trial on the charges brought by the CBI and ED.
The decision would then go to the UK Home Office for the Home Secretary, Sajid Javid, to pass an order based on that verdict. Both sides will have the right to file for a permission to appeal in the Chief Magistrate’s ruling in the UK High Court.
“My settlement offer is made before the Karnataka High Court. It is not related to this extradition trial. Nobody disrespects a court of law by making a bogus offer. The assets have been attached by the ED so they cannot be bogus assets,” he said, asserting that his offer to repay the principal amount was not bogus. The embattled liquor tycoon said that the value of his assets is more than enough to pay everybody and that is exactly what he was focusing on.
“I want to disprove the narrative that I have stolen (money),” he said. He said his legal team will review the judgment and take proper steps thereafter. Mallya has contested his extradition on the grounds that the case against him is “politically motivated” and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat.
The trial, which opened at the Magistrates’ Court on December 4 last year, has gone through a series of hearings beyond the initial seven days earmarked for it. It opened with the Crown Prosecution Service team, led by Mark Summers, laying out the Indian government’s prima facie case of fraud and money laundering against Mallya.
Summers sought to establish a “blueprint of dishonesty” against the businessman and that there are no bars to his extradition on human rights grounds. Mallya’s defence team, led by Clare Montgomery, deposed a series of experts in an attempt to prove that the erstwhile Kingfisher Airlines’ alleged default of bank loans was the result of business failure rather than “dishonest” and “fraudulent” activity by its owner. — PTI
15:33 Mallya in London court for extradition verdict : Vijay Mallya arrives at the Westminster Magistrates Court in London which is expected to pronounce its judgment in his extradition case. The court is hearing the case on India’s request. Mallya said, “I have filed a comprehensive settlement application before the Karnataka High Court, which is also being heard today. Whatever the judgement, my legal team will reveal the judgement and take proper steps thereafter. Yes, I have tweeted saying that I want to repay, that has nothing to do with this extradition issue. It’s a completely separate matter.”
When asked ‘how genuine is his offer of settlement’, Mallya said, “There is nothing genuine or in-genuine. Please understand that the offer has been made in a court of law. Nobody disrespects a court of law.”
On Sunday, a joint team of the CBI and the Enforcement Directorate led by CBI Joint Director A Sai Manohar left for the United Kingdom for the court proceedings.
Earlier, CBI Special Director Rakesh Asthana was leading this case.
Reacting on the development, the Congress party termed the proceedings as delayed and said that the authorities have woken up when Mallya is ready to pay all loans.
On Friday, the Supreme Court issued a notice to the ED on a plea filed by Mallya seeking a stay on the proceedings initiated by the ED to declare him a fugitive economic offender and confiscate his assets.
Mallya is facing money-laundering charges in the United Kingdom after India initiated extradition proceedings against him. Both ED and the CBI have filed several cases for alleged loan default against him.Mallya has been residing in the UK from the past two years. His extradition case is reportedly in its final stage at the UK court.
15:25 And yesterday’s meeting with the Gandhis and the DMK: Yesterday, DMK president MK Stalin met Congress chief Rahul Gandhi and UPA chairperson Sonia Gandhi and discussed a range of issues. Stalin and other senior DMK members met Sonia Gandhi and wished her on her birthday.”Shri Stalin and senior members of the DMK, visited Sonia Ji in Delhi today, to wish her on her birthday. We had a warm & cordial meeting & discussed a range of issues,” Rahul Gandhi tweeted after the meeting.
“I look forward to continuing our dialogue & to strengthening our alliance, that has stood the test of time,” he said.
15:17 Naidu’s moment in the sun: Meets opposition leaders ahead of meeting : And Naidu’s meeting with chairperson of the National Conference party, Farooq Abdullah. Naidu will meet opposition parties at the Parliament annexure at 3:30 pm and thereafter chair the TDP Parliamentary Party meeting at Andhra Pradesh Bhavan. He will leave for Amaravati after the meeting.
The Opposition is planning to form a ‘Mahagathbandhan’, or grand alliance, to fight the Bharatiya Janata Party. The meeting in Delhi today is to strategise a plan ahead of the 2019 general elections. The meeting has been called by Naidu and most opposition leaders are expected to attend.
15:11 Naidu meets Ahmed Patel : Busy day for Andhra Pradesh CM N Chandrababu Naidu in Delhi. After arriving at the national capital at 11 am, he met West Bengal CM Mamata Banerjee, Congress leader Ahmed Patel, NC leader Farooq Abdullah and had separate, one-on-one meetings with them.
Naidu is leaving no stone unturned to make the opposition meeting a
success by ensuring that all those whom he had met in the recent past
with the anti-BJP platform as an agenda, make it to the meeting on
Monday.
15:08 TRS will form next govt on its own strength: AIMIM chief:
AIMIM President Asaduddin Owaisi Monday said TRS will form the next government in Telangana on its own strength and his party will stand by it and its chief K Chandrasekhar Rao.
Owaisi said he will meet KCR (Rao) Monday afternoon adding this is “our first step towards a larger goal of nation building.” “I’ll be meeting Telangana’s caretaker & next CM of Telangana, KCR sahab @TelanganaCMO at 1:30 PM today. Inshallah he’ll form government on his own strength, and Majlis will stand by him. This is our first step towards a larger goal of nation building,” the Hyderabad MP tweeted.
AIMIM contested eight seats in the December 7 Assembly elections as against the seven in 2014 polls, and supported the TRS. Owaisi had also canvassed and organised public meetings in support of TRS in the run-up to the December 7 Assembly elections. Counting of votes will be taken up on Tuesday. — PTI
14:29 Nitish’s agenda is to destroy me and my party: Kushwaha: RLSP Chief Upendra Kushwaha holds a press briefing after his resignation as Union Minister and after he exited the NDA.
“Narendra Modiji couldn’t meet the expectations of the people of Bihar. Nothing was done for special status. Bihar is still where it was earlier. Education and health system is non-existent.
“I had attempted to put forth my words strongly while in the NDA so that the people of Bihar get justice. But even after all these efforts, the BJP stood with Bihar CM. Nitishji has done injustice to people on all fronts. . Nitishji’s agenda is to destroy me and my party. This was started by the BJP. In Bihar election, seats of all allies were increased. But injustice was done to RLSP.”
14:25 DMK’s big four meet Kejriwal : DMK President MK Stalin along with party leaders Kanimozhi, A Raja and TR Balu met Delhi CM Arvind Kejriwal in Delhi today. The DMK President also invited him for the inauguration ceremony of the statue of M Karunanidhi in Chennai.
Ahead of this meeting, Stalin and the party’s Rajya Sabha MP Kanimozhi held a meeting with Nationalist Congress Party chief Shard Pawar in the national capital on a range of multiple issues.
With Lok Sabha elections scheduled next year, the meeting holds significance.
The DMK president also invited Pawar for the inauguration ceremony of the statue of former Tamil Nadu chief minister M Karunanidhi, which is scheduled to be unveiled in Chennai on December 16.
In November, Stalin along with Pawar and Congress president Rahul Gandhi attended a significant meeting here of political parties opposed to the Bharatiya Janata Party and discussed at length the future course of action.
Pawar had also met Stalin in July to enquire about Karunanidhi’s health who passed away in August.
On December 9, Stalin and other senior party members met Sonia Gandhi to extend their greetings to the United Progressive Alliance chairperson on her 72nd birthday. Those who accompanied Stalin included Kanimozhi, RS Bharathi, TR Baalu and A Raja. — PTI
14:02 Naidu meets Mamata ahead of mahagathbandhan meeting : West Bengal CM Mamata Banerjee meets Andhra Pradesh CM N Chandrababu Naidu in Delhi. TDP supremo Naidu is leaving no stone unturned to make the opposition meeting a success by ensuring that all those whom he had met in the recent past with the anti-BJP platform as an agenda, make it to the meeting on Monday.
Naidu who invited leaders from Congress and several non-NDA parties for the meeting in the past few days, had reportedly got consent from them.
Congress president Rahul Gandhi, United Progressive Alliance (UPA)
chairperson Sonia Gandhi, DMK’s MK Stalin, Rashtriya Janata Dal’s (RJD)
Tejashwi Yadav, Karnataka Chief Minister HD Kumaraswamy, Delhi Chief
Minister and Aam Aadmi Party chief Arvind Kejriwal and others are likely
to attend the meeting.
13:27 Owaisi to meet KCR: AIMIM Chief Asaduddin Owaisi will meet caretaker Telangana Chief Minister K Chandrasekhar Rao at 1.30 pm today.
13:25 Indian diplomat walks out of SAARC meeting over PoK minister’s presence: An official of the Indian High Commission in Pakistan staged a walkout of a SAARC meeting over the presence of a minister from Pakistan-occupied Kashmir at the event, according to source in Islamabad.
Diplomat Shubham Singh, left the meeting to register India’s protest over the presence of PoK minister Chaudhary Muhammad Saeed at the SAARC Chambers of Commerce and Industry meeting on the SAARC Charter Day in Islamabad on Sunday.
India considers Kashmir as its integral part and does not recognise any minister for Pakistan-occupied Kashmir. In 2016, India had pulled out of the 19th SAARC summit that was to be held in Islamabad after the deadly terrorist attack on an Indian Army camp in Uri.
The summit was called off after Bangladesh, Bhutan and Afghanistan also declined to attend. No SAARC meeting has happened ever since. India called off the foreign minister-level talks with Pakistan on the sidelines of the United Nations General Assembly in New York in September after the brutal killing of policemen in Jammu and Kashmir and the release of a postage stamp by Pakistan that glorified Kashmiri militant commander Burhan Wani. — PTI
12:58 RLSP chief Kushwaha meets Rahul after exiting NDA :
RLSP president Upendra Kushwaha has quits both from the party and as union minister today, just a day ahead of the start of the Winter Session of Parliament. This has triggered a realignment of political equations in Bihar. Kushwaha met Congress president Rahul Gandhi and is likely to attend the opposition gathbandhan meeting in New Delhi today.
The Rashtriya Lok Samta Party chief has been targeting the BJP and Bihar Chief Minister Nitish Kumar, a key ally of the ruling party, for weeks. He has been upset with the BJP after it asserted that the RLSP would not be given more than two seats in the 2019 Lok Sabha election, even as it went out of way to accommodate Kumar by agreeing that the saffron party and the JD(U) would fight equal number of seats.
The RLSP may join hands with the opposition, which includes Lalu Prasad’s RJD and the Congress. Bihar sends 40 MPs to Lok Sabha. — PTI
12:43 RLSP Chief Upendra Kushwaha resigns as Union Minister, says ANI.
12:40 Separatists-backed strike hits normal life in Kashmir: Normal life was affected in Kashmir on Monday because of a strike called by separatists to highlight the alleged human rights violations in the Valley. Most shops, fuel stations and other business establishments were shut in Srinagar, the summer capital of Jammu and Kashmir, in support of the strike which is being observed on Human Rights Day.
While public transport was hit, private cars and auto-rickshaws were plying in a few areas of the city. Similar reports of shutdown were received from other district headquarters of the Valley.
Officials said there were no restrictions imposed but security forces were deployed in sensitive areas across the Valley to avoid any law and order problem. Separatists, under the banner of Joint Resistance Leadership, have called the strike, asking people to observe it as a “black day”. — PTI
12:26 Former Jamia VC Mushirul Hasan dies after prolonged illness: Noted historian and former Jamia Millia Islamia vice chancellor Mushirul Hasan passed away early Monday after prolonged illness at a private hospital in New Delhi, the university said.
Hasan, who was admitted to the hospital last night, breathed his last at 4 am. He was nearing 70.
“He met with a road accident about two years ago and was mostly bed-ridden after that. He was also undergoing dialysis for kidney problems,” former secretary to Jamia Vice chancellor, Zafar Nawaz Hashmi, told PTI. He added, “Some health complications emerged and he was taken to hospital post midnight. He passed away there this morning.” — PTI
11:58 I’m totally fine: Shahid Kapoor debunks reports of stomach cancer: Bollywood actor Shahid Kapoor Monday quashed reports claiming that he is suffering from stomach cancer. The 37-year-old actor took to Twitter to give a health updated to his followers.
“Guys I’m totally fine please don’t believe random stuff,” Shahid tweeted. Reports stating that Shahid was suffering from stomach cancer started doing the rounds on the web last week. On the work front, the actor was last seen in the “Batti Gul Meter Chalu”.
The film, which also starred Shraddha Kapoor, did not perform well at the box-office. Shahid is currently busy shooting for the Hindi remake of “Arjun Reddy”, titled “Kabir Singh”. The film is being helmed by Sandeep Vanga, who also directed the original 2017 Telugu blockbuster. “Kabir Singh” will hit the screens on June 21, 2019. PTI
11:53 HC seeks Centre’s reply on PIL seeking entry of women into Nizamuddin shrine: The Delhi High Court on Monday sought a response from the Centre, the AAP government and police on a PIL seeking entry of women into the sanctum sanctorum of the Hazrat Nizamuddin Aulia Dargah in New Delhi.
Apart from the Centre, the Delhi government and police, a bench of Chief Justice Rajendra Menon and Justice V K Rao also issued notice to the trust managing the ‘dargah’ (shrine) and sought their stand on the plea by April 11, 2019.
The court was hearing a plea by three women law students, who have claimed that the dargah here does not permit entry of women into the shrine.
The petition, filed though advocate Kamlesh Kumar Mishra, has claimed that there is a notice put up outside the ‘dargah’ — a shrine built over the grave of a religious figure — clearly stating in English and Hindi that women are not allowed inside.
The law students, in their petition, have contended that they made several representations to authorities, including the Delhi Police, but no response was received and therefore, they moved the high court. The plea has sought directions to the Centre, the Delhi government, police and the trust managing the shrine, to frame guidelines for ensuring entry of women into the dargah and declare the bar on entry of women as “unconstitutional”.
— PTI
11:29 Vanakam, Mr Pawar: DMK President MK Stalin and party MP Kanimozhi met NCP chief Sharad Pawar in Delhi today and held discussions over multiple issues. The DMK President also invited him for the inauguration ceremony of the statue of M Karunanidhi in Chennai.
11:28 Meet and greet : Home Minister Rajnath Singh, Congress leaders Ghulam Nabi Azad, Mallikarjun Kharge and CPI leader D Raja arrive for the all party meeting called by the Central govt ahead of winter session of Parliament.
11:27 Who will be at Naidu’s meeting? : Opposition leaders expected at the meeting called by Andhra CM Chandrababu Naidu, all of whom he has met, include: Congress chief Rahul Gandhi, Nationalist Congress Party chief Sharad Pawar, former Jammu and Kashmir Chief Minister Farooq Abdullah, Bahujan Samaj Party chief Mayawati, Samajwadi Party chief Akhilesh Yadav, West Bengal Chief Minister Mamata Banerjee and Arvind Kejriwal over the last few weeks.
Opposition leaders like West Bengal Chief Minister and Trinamool Congress chief (TMC) Mamata Banerjee, Congress president Rahul Gandhi, United Progressive Alliance (UPA) chairperson Sonia Gandhi, DMK’s MK Stalin, Rashtriya Janata Dal’s (RJD) Tejashwi Yadav, Karnataka Chief Minister HD Kumaraswamy, Delhi Chief Minister and Aam Aadmi Party chief Arvind Kejriwal and others are likely to attend the meeting.
11:23 As the Opposition parties are all set to hold a crucial meeting on the eve of Parliament’s Winter Session and counting of votes for Assembly elections in five states, the BJP has claimed to remain unaffected.
The BJP has maintained confidence by saying that despite the Opposition meet, Prime Minister Narendra Modi is again going to retain the post with a clear majority in the upcoming 2019 General Elections.
Speaking to ANI, BJP leader Shahnawaz Hussain said, “No matter how much the Opposition unites and makes Mahagathbandhan but the fact will remain intact that in 2019, Narendra Modiji is going to retain the post of Prime Minister again with a clear majority. The BJP will regain power in Madhya Pradesh, Chhattisgarh, and Rajasthan with their own strength.”
Echoing the sentiments, BJP general secretary Kailash Vijayvargiya said that it would be great if the ‘Mahagathbandhan’ (grand alliance) also announces their Prime Minister candidate for the 2019 General Elections.
He said, “It’s good that they are trying hard for Mahagathbandhan. It will be better if they decide that who will be the next Prime Minister from this grand alliance.”
Today’s meeting in Delhi has been called by Andhra Pradesh Chief Minister and Telugu Desam Party supremo N Chandrababu Naidu, aimed at bringing all Opposition parties under a single umbrella to take on the BJP in 2019 Lok Sabha elections.
Chandrababu Naidu has recently ended his decades-long rivalry with the Congress.
Ahead of the decisive meeting of the Opposition parties with an aim to build an anti-BJP front, the Dravida Munnetra Kazhagam president and Tamil Nadu leader of Opposition, MK Stalin, yesterday met and wished United Progressive Alliance chairperson Sonia Gandhi on her 72nd birthday. Stalin also discussed a range of issues including poll strategies for 2019 Lok Sabha elections and Mekadatu project of Congress-JD(S)-ruled Karnataka government, which is drawing flak from Tamil Nadu.
Last month, the farmers’ protest in the national capital brought Congress president Rahul Gandhi and Delhi Chief Minister Arvind Kejriwal on the same stage for the very first time. — ANI
Image: PM Narendra Modi/File pic
10:55 AgustaWestland case: Michel to be produced before Delhi court today : Extradited alleged middleman in the Rs 3600 crore AgustaWestland chopper deal, Christian Michel, will be produced before a Delhi Court on Monday after the end of his five-day CBI custody.
Michel was sent to five days CBI custody on December 5. He arrived in the national capital in the wee hours of the same day after being extradited from Dubai, was produced before a special CBI court here.Special Public Prosecutor Advocate DP Singh appeared for the CBI in the special court.
The CBI counsel had asked for 14 days custody of Michel stating that they needed his custody to confront him with some important documents. Michel’s counsel Aljo K Joseph, however, opposed it.Michel had moved a bail plea. The court, however, kept it pending.
The Rs 3,600 crore AgustaWestland VIP helicopter deal, finalised during the previous government of Manmohan Singh, had got mired in allegations of kickbacks.
The 54-year-old Michel is an accused in the case along with some others including former Air Chief SP Tyagi.
According to the Enforcement Directorate chargesheet filed in a court in New Delhi two years back, Michel had received kickbacks to the tune of 30 million Euros from AgustaWestland for the deal involving a purchase of 12 VIP helicopters. The deal, signed in 2007, was scrapped in 2013 following the bribery allegations. — ANI
10:42 Rupee falls 59 paise to 71.40 against US dollar in early trade: The rupee depreciated 59 paise to 71.40 against the US dollar in early trade Monday at the interbank foreign exchange amid strengthening US dollar against some currencies overseas. Forex traders said besides increased demand of the US currency from importers, the dollar’s strength against some currencies overseas weighed on the rupee.
The rupee opened lower at 71.28 against the dollar and dropped further to 71.41, 59 paise down over its previous close. On Friday, the domestic currency recuperated by 8 paise to close at 70.82 against the US dollar.
Traders said a lower opening in domestic equity market, rising crude prices and foreign fund outflows put additional pressure on the local unit. The 30-share BSE Sensex plummeted 551.74 points, or 1.55 per cent, to 35,121.51 in opening session. — PTI
10:36 Taj ticket increased by Rs 200: Those wanting to see the main mausoleum at the Taj Mahal will need to buy an additional ticket of Rs 200 from Monday. Vasant Swarnakar, Archaeological Survey of India’s chief archaeologist in Agra, said domestic visitors will have to pay Rs 250 and foreign visitors Rs 1,300 to see the main mausoleum at the 17th-century monument.
The visitors from SAARC countries will have to pay Rs 740 instead of Rs 540. The new ticketing system will help reduce the human load on the main structure.
Visitors who buy the Rs 50 ticket would not be allowed to enter the main mausoleum, but would be able to move around the Taj and see the rear side, the Yamuna river front at the back.
The Taj Mahal is considered one of the finest specimen of the Mughal architecture. In 1983, it became a UNESCO World Heritage Site and was cited as “the jewel of Muslim art in India and one of the universally admired masterpieces of the world’s heritage.” — PTI
10:33 United they stand? Key oppn meet today : A day before the results of the polls in the five states are declared, the opposition will be holding a meeting to discuss a grand alliance for next year’s general elections.
The meeting, to be held in Delhi, has been called by Chandrababu Naidu, who has taken on the task of bringing the disparate opposition parties under a single umbrella to take on the BJP in 2019.
Mayawati, who has a large following among the Scheduled Castes — especially in Uttar Pradesh — is likely to give the meeting a miss, NDTV reported. Aam Aadmi Party chief Arvind Kejriwal, an absentee in all such gatherings, has however, agreed to attend, sources said.
Both parties have been unhappy with the Congress — Mayawati after seat-sharing talks for Rajasthan, Madhya Pradesh and Chhattisgarh failed and the Aam Aadmi Party after the Congress failed to respond to its feelers for a tie-up for 2019.
Talks of a broad opposition alliance have been on since the oath ceremony of HD Kumaraswamy in May. With the new chief minister of Karnataka inviting all leaders, the occasion had doubled up as the first unofficial meet for Grand Alliance. The huge reverses of the BJP in a string of by-elections in Uttar Pradesh and Bihar in March had given weight to the idea.
Meanwhile, RLSP chief Upendra Kushwaha, who may quit the NDA told ANI that he will not participate in the meeting of NDA allies, which is also scheduled today.
09:45 RLSP chief Kushwaha may quit NDA today:
RLSP president Upendra Kushwaha may quit the BJP-led NDA Monday, a day ahead of the start of the Winter Session and triggering a realignment of political equations in Bihar.
The Rashtriya Lok Samta Party chief has been targeting the BJP and Bihar Chief Minister Nitish Kumar, a key ally of the ruling party, for weeks.
He has been upset with the BJP after it asserted that the RLSP would not be given more than two seats in the 2019 Lok Sabha election, even as it went out of way to accommodate Kumar by agreeing that the saffron party and the JD-U would fight equal number of seats.
“Kushwaha is likely to announce his parting of ways with the BJP today. He will also quit as a Union minister,” a senior RLSP leader said.
The RLSP may join hands with the opposition, which includes Lalu Prasad’s RJD and the Congress.
Bihar sends 40 MPs to Lok Sabha.
— PTI
09:28 Mamata a lady of great courage, can lead anti-BJP coalition: Yashwant Sinha:
Praising West Bengal Chief Minister Mamata Banerjee, former Union Finance Minister Yashant Sinha said she has all the qualities to be the face of a coalition that can be formed at the Centre if the incumbent Narendra Modi-led dispensation is defeated in the coming Lok Sabha polls.
“She has all the qualities to be the face of that coalition,” Sinha told mediapersons in Kolkata on the sidelines of a talk show “Idea of Bengal”, organised by Banerjee`s Trinamool Congress.
Sinha, who held important portfolios including Finance and External Affairs in the government of Atal Bihari Vajpayee — the first Prime Minister to complete a full term as the head of a coalition — said such governments can run well if the Prime Minister has the ability to carry all coalition partners.
“I have experience of coalition government. I think it can run beautifully if the Prime Minister has the personality to carry all the coalition partners,” he said.
Sinha also lauded Banerjee for her courage and said she has a big role to play in the coming Lok Sabha polls.
“She is a lady of great courage, and that reflects all the time in her actions. We have just talked about electing a new government when Lok Sabha elections take place. My view is that the Chief Minister of West Bengal has a very major role to play in achieving that,” he said.
08:47 Macron to break silence, address French nation amid protests:
Pressure mounted on French President Emmanuel Macron to announce concrete measures to calm protests marked by violence when he addresses the nation on Monday evening, and breaks a long silence widely seen as aggravating a crisis that has shaken the government and the whole country.
The president will consult in the morning with an array of national and local officials as he tries to get a handle on the ballooning and radicalising protest movement triggered by anger at his policies, and a growing sense that they favour the rich.
Macron will speak from the presidential Elysee Palace at 8 pm (1900 GMT), an Elysee official said. The official wasn’t authorised to speak publicly and requested anonymity.
Government spokesman Benjamin Griveaux said earlier on LCI TV station he was “sure (Macron) will know how to find the path to the hearts of the French, speak to their hearts.”
But, he added, a “magic wand” won’t solve all the problems of the protesters, known as “yellow vests” for the fluorescent safety vests they often wear.
Last week, Macron withdrew a fuel tax hike the issue that kicked off protests in mid-November in an effort to appease the protesters, but the move was seen as too little too late.
For many protesters, Macron himself, widely seen as arrogant and disconnected from rank-and-file French, has become the problem. Calls for him to resign were rampant on Saturday, the fourth weekend of large-scale protests.
08:31 Will Vijay Mallya be extradited to India? London court may deliver verdict today:
Embattled liquor tycoon Vijay Mallya, wanted in India on alleged fraud and money laundering charges amounting to an estimated Rs 9,000 crore, is scheduled to return to the Westminster Magistrates’ Court on Monday when his extradition trial is listed for a judgment hand-down.
The 62-year-old former Kingfisher Airlines boss has been on bail since his arrest on an extradition warrant in April last year.
He has contested his extradition on the grounds that the case against him is “politically motivated” and the loans he has been accused of defrauding on were sought to keep his now-defunct airline afloat.
“I did not borrow a single rupee. The borrower was Kingfisher Airlines. Money was lost due to a genuine and sad business failure. Being held as guarantor is not fraud,” he said in his recent tweet.
“I have offered to repay 100 per cent of the principal amount to them. Please take it,” the flamboyant businessman tweeted earlier.
While dismissing that his intervention has anything to do with the extradition case, it came just days before Judge Emma Arbuthnot was expected to present her ruling in the case.
The trial, which opened at the Magistrates’ Court on December 4 last year, has gone through a series of hearings beyond the initial seven days earmarked for it.
If the judgment goes ahead as scheduled on Monday, it would mark a significant point in this high-profile extradition trial that has lasted over a year.
07:56 India’s growth ‘very solid’: IMF Chief Economist Maurice Obstfeld:
India’s growth has been “very solid” over the past four years, IMF’s Chief Economist Maurice Obstfeld said, praising the fundamental economic reforms like the GST and the Insolvency and Bankruptcy Code carried out by the government.
Obstfeld — who is set to retire this month-end — will be succeeded by Gita Gopinath, the second Indian to be appointed to the position. Former RBI Governor Raghuram Rajan had served as Chief Economist of the International Monetary Fund.
“India under the government of Prime Minister Narendra Modi has carried out some really fundamental reforms. These include the Goods and Services Tax, the Insolvency and Bankruptcy Code…A lot of what they have done on financial inclusion has been really important,” Obstfeld told a group of journalists here.
Summing up his impression of India’s economy in the last four-and-a-half years of the Modi government, the top IMF economist said the country’s “growth performance has been very solid”.
“I mean, not so much in the third quarter of this year, but generally it has been quite solid,” he said.
“There are important vulnerabilities, so it is important for the reform momentum to be maintained even as an election comes up and for the path of fiscal adjustment to be maintained,” Obstfeld added.
He said one risk that has become much more evident in the last few years has been non-bank finance, usually called shadow banking.
“There is a big challenge of stricter, oversight,” the economist said.
Noting that there has long been a legacy of corporate debt associated with bad infrastructure projects in India, Obstfeld said it has been very concentrated in banking system.
“But as the government is trying to better oversee the banking system, these loans have migrated to shadow banking and that is an area where more needs to be done to contain financial pressures, which we are beginning to see in India,” he said.
However, with an upcoming election in the country, there is a reluctance to do anything that would slow the economy, Obstfeld said, observing, “But the lesson of experiences is that financial vulnerabilities can go south very quickly”.
— PTI
Source: Rediff