From Jallikattu row to UDAN scheme: 5 key developments

In other news, banks get nod to take Mallya's shares, deposits

Business Standard brings to you a list of five key developments from across the country.

Jallikattu row set to intensify

The ongoing massive protests in support of Jallikattu in Tamil Nadu look set to intensify with train blockades, worker strikes and continuing student protests state wide. Prime Minister Narendra Modi's silence on the demand to promulgate an ordinance enabling the holding of the traditional bull-taming sport, citing the matter as sub-judice, could serve as the trigger. Close to a lakh youth gathered to protest in Chennai's Marina beach and also across the state and support for them is swelling.

Land loss rage in West Bengal

After a day of pitched battles against the state administration and the ensuing standoff which has led to the postponing of land acquisition for a controversial power grid project, Bhangar, which is situated 40 km from Kolkata, has distanced itself from the world. Felled logs barricade the asphalt roads, cut in places to trap vehicle wheels. Locals keep a watch for any unknown face. Protest marches are doing the rounds in adjoining villages near the power substation, with the leaders demanding withdrawal of the project and return of the land.

Has RBI really issued Rs 9.2 lakh crore worth of new currency?

Reports of what transpired in the parliamentary standing committee on finance on Wednesday have only added to the confusion over how much of the banned currency has been remonetised by the Reserve Bank of India. According to reports, RBI Governor Urjit Patel told the committee that Rs 9.2 lakh crore worth of new currency has been issued so far. This figure is at odds with RBI’s most recent data on currency in circulation.

Vijay Mallya faces DRT heat

The Debt Recovery Tribunal (DRT) in Bengaluru has directed a consortium of banks, led by the State Bank of India, to begin recovery of Rs 6,203 crore from business tycoon Vijay Mallya and his four companies against unpaid loans taken to run the now-defunct Kingfisher Airlines. The DRT Presiding Officer K Srinivasan directed the lenders to initiate proceedings to recover money from Kingfisher Airlines, United Breweries (Holdings), Kingfisher Finvest and Mallya himself, and levy interest of 11.5 per cent per annum on the dues since the application was filed by the banks.

Only two airlines sign up for UDAN scheme surcharge

Even as uncertainty looms over the proposed levy for funding the ambitious regional connectivity project in aviation — UDAN (Ude Desh ka Aam Nagrik) — the government says the scheme would see its first flight next month and put 43 new airports on the map. According to sources in the aviation ministry, only state-owned Air India and private carrier AirAsia India have agreed to pay the surcharge. "They have started levying the surcharge on their air tickets. Other airlines are yet to do, as the case is sub judice (in court)," said an official.