LIVE: Sachin Pilot's office puts out a video of MLAs supporting him

Rajasthan political crisis: Congress called a meeting of all its MLAs today to iron out differences between Pilot and Gehlot. Stay tuned with Business Standard for the latest news of today

1:56 AM

PM takes stock of financial sector, reviews progress of Rs 20 trn package

Prime Minister Narendra Modi on Monday took stock of the financial sector which has been hit hard by the outbreak of Covid-19 pandemic.

 

He also reviewed the progress of a host of measures announced under the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package to stimulate the economy and help the MSME sector and poor sections of society. Read more

1:55 AM

Life insurance industry to recover in next quarter, says CARE Ratings

Life insurers, which have seen their first-year premiums contract 18.6 per cent in the first quarter of the financial year 2020-21 (FY21), could see recovery in the next quarter, said CARE Ratings. Life insurers also saw the sum assured decline 12.9 per cent from Rs 10 trillion in Q1FY20 to Rs 8.8 trillion in Q1FY21. However, despite a sharp dip in premiums, experts believe the industry is recovering from the initial shocks of the lockdown as June was better compared to May and April. Read more

1:54 AM

CPI-based inflation rose to 6.1% in June; food inflation eased to 7.9%

Consumer Price Index (CPI)-based inflation for June stood at 6.09 per cent, slightly above the Reserve Bank of India’s target band of 4 per cent (with a margin of +/- 2 per cent), showed the official data released on Monday. This has raised expectations of another rate cut.  Read more

1:54 AM

HDFC Bank probes lending practices at vehicle-financing operation

HDFC Bank has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, according to people familiar with the matter.

 

The bank decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said the people, who asked not to be identified as the information remains confidential. The vehicle financing unit he headed had outstanding loans of more than Rs 1.2 trillion ($16 billion) as of March 31.

1:53 AM

Rajasthan crisis: Ashok Gehlot claims majority, Sachin Pilot defiant

The Congress in Rajasthan staged a show of strength with several MLAs expressing support to Chief Minister Ashok Gehlot at the legislature party meeting. However, the MLAs were later packed off to a resort near Jaipur, signalling the rebellion sparked by deputy CM Sachin Pilot is still a threat to the party.

 

Sources said top party leaders, including Rahul Gandhi and Priyanka Gandhi Vadra, were trying to reach out to Pilot to assure that his grievances will be addressed. A report in NDTV said Pilot was still in talks with the Bharatiya Janata Party (BJP).

 

Another media report quoted sources close to Pilot to say the rebel camp dismissed Gehlot’s claims. “If they have numbers then why not do a head count, take them to governor instead of moving them to hotel,” the report quoted a source as saying.

1:01 AM

Fire breaks out following explosion at pharmaceutical unit in Visakhapatnam, 1 injured: Officials

12:26 AM

PM allows Priyanka Gandhi's request to stay on in Lutyens' bungalow for some time

In a remarkably statesman like move, Prime Minister Narendra Modi has agreed to a request to allow Priyanka Gandhi Vadra to retain the 35, Lodhi Estate Bungalow for some time. Just when people thought there is witch hunt against the erstwhile first family of Indian politics, the PM's move once again validated his large heartedness.

 

After the government directive to vacate the prime Lutyens real estate property in Lodi Estate, the Centre was approached to allow Priyanka Gandhi to stay there for some more time. Sources close to developments revealed that when the matter was brought to Modi's notice, he said that her request most certainly be accepted.

 

Those who know Modi say that this is not the first time that he has gone out of the way and shown large heartedness towards a family that has left no opportunity to bad mouth him, demean him and use every trick out of the book to nail him. The general impression being that both sides have a visceral hatred for one another.

12:23 AM

US to reject nearly all Chinese claims in South China Sea

US officials say the Trump administration is poised to escalate its actions against China by stepping squarely into one of the most sensitive regional issues dividing them and rejecting outright nearly all of Beijing's significant maritime claims in the South China Sea.

 

In a move the officials say is expected as early as Monday, the administration will present the decision as an attempt to curb China's increasing assertiveness in the region with a commitment to recognizing international law.

 

But it will almost certainly have the more immediate effect of further infuriating the Chinese, who are already retaliating against numerous U.S. sanctions and other penalties on other matters.

11:56 PM

Rahul Gandhi says 'narrative of lies' tearing India apart, to share thoughts on current affairs through video

11:28 PM

Sachin Pilot's office releases video of MLAs supporting him

11:04 PM

Franklin Templeton MF's shut schemes receive Rs 3,275 crore since closure

10:53 PM

PM Oli says "real" Ayodhya is in Nepal and Lord Ram is Nepali; BJP rejects claim

10:44 PM

Capital Foods to invest Rs 100 crore on brand development in FY21

10:42 PM

CCI directs 10 enterprises, officials to cease, desist from anti-competitive ways

The Competition Commission has directed 10 enterprises and some of their officials to cease and desist from indulging in anti-competitive practices but refrained from imposing monetary penalties in a matter related to cartelisation in bidding for certain tenders of the Indian Railways.

 

Various factors, including the current economic situation due to the coronavirus pandemic and that some of the enterprises were MSMEs, were taken into consideration before the watchdog decided against imposing monetary penalties.

 

The cease and desist order has been passed against ten entities and some of their officials. The entities include Hindustan Composites Ltd, Industrial Laminates (India) Pvt Ltd, BIC Auto Pvt Ltd (now Masu Brake Pads Pvt Ltd), Escorts Ltd (Railway Equipment Division), Rane Brake Lining Ltd and Om Besco Super Friction Pvt Ltd.

10:30 PM

Floor open for Sachin Pilot to air grievances: Abhishek Singhvi

10:26 PM

Assam floods claim 6 more lives, 2.2 million hit across 27 districts

10:19 PM

Rahul, Priyanka in touch with Sachin Pilot

As the Congress grappled with a crisis in Rajasthan, the top party leadership on Monday appeared to go all out to pacify Sachin Pilot, who has raised a revolt against chief minister Ashok Gehlot, with senior party leaders saying that both Rahul Gandhi and Priyanka Gandhi Vadra talked to the rebel leader.
 

The Congress leadership has also assured Pilot of quick redressal of his concerns, party sources said.
 

These overtures from the Congress top brass came a day after some senior party leaders expressed concern over the crisis in Rajasthan, and sought immediate action from the party leadership to resolve it.

10:17 PM

Gem and Jewellery Export Promotion Council welcomes govt's decision to give 3-month extension for certified diamond re-imports

10:03 PM

Rahul Gandhi to share his thoughts on current affairs, history through video; alleges hate filled narrative being spread by TV

10:03 PM

HDFC Bank launches probe on auto loan practices following allegations

HDFC Bank on Monday said it has launched a probe into its auto lending practices following allegations against the conduct of a long-time executive who retired on March 31 this year.
 

"We would like to state that the executive concerned who was on an extension of service retired on March 31, 2020 in the normal course of his employment. The bank has a well established process of investigating every complaint that it receives and takes actions as appropriate," an HDFC Bank spokesperson said.
 

The auto loan department executive could not be contacted for comments.

9:28 PM

15th Finance Commission holds meeting with Health Ministry

The 15th Finance Commission on Monday held a meeting with Health Minister Harsh Vardhan and senior officials of the ministry on revising the State Specific proposals of the ministry in light of the Covid-19 experience.

 

The Chairman of the Commission, N K Singh, said looking at the peculiar state of the pandemic, the commission's final report will have a separate chapter on health.

 

The ministry pointed out that presently 35 per cent of the public health expenditure is done by the Centre and 65 per cent by the state governments.

9:14 PM

Another Congress Legislature Party meeting tomorrow

8:56 PM

Real Ayodhya lies in Nepal, not in India. Lord Ram is Nepali not Indian: Nepal Prime Minister K P Sharma Oli (ANI)

8:51 PM

Do everything to persuade Sachin Pilot: Kuldeep Bishnoi urges Congress leadership

Haryana's Adampur MLA Kuldeep Bishnoi on Monday urged the Congress leadership to do everything possible to persuade Rajasthan Deputy Chief Minister Sachin Pilot, saying his exit from the party will deal a severe blow to it, according to a PTI report.

 

The Congress in Rajasthan is witnessing a power tussle between Chief Minister Ashok Gehlot and his deputy Sachin Pilot, upset since he was denied the the chief minister's post after the December 2018 assembly elections. The current crisis began Friday night when the Rajasthan Police sent a notice to Pilot, asking him to record his statement over an alleged attempt to bring down the government.

 

The same notice was sent to the chief minister and some other MLAs, but Pilot's supporters claimed that it was only meant to humiliate him. Commenting on the issue, 51-year-old Bishoni, who is the younger son of former Haryana chief minister Bhajan Lal, also batted for promoting young faces with a mass base to strengthen the party.

 

Earlier, Bishnoi had described Jyotiraditya Scindia's exit from the party in March as a big blow and said there are many devoted leaders across the country who feel "alienated, wasted and discontented".

8:39 PM

BJP delegation today met Guv Jagdeep Dhankhar over death of BJP MLA Debendra Nath Ray

8:24 PM

Bharatiya Tribal Party issues letter to two MLAs to abstain in event of a trust vote in Rajasthan assembly

8:11 PM

IT raids in Delhi, Jaipur in tax evasion case against Rajasthan group

The Income Tax Department is conducting searches in four cities, including Delhi and Jaipur, in connection with a tax evasion case against a Rajasthan-based jewellery group, officials said on Monday.

 

They said the raids have been launched early morning in Delhi, Jaipur, Mumbai and Kota. At least 80 tax sleuths apart from police officials are part of the action, they said.

 

They said the department initiated action on the basis of inputs of huge cash transactions taking place and the business group's alleged links to these transactions. Another entity in Rajasthan is also being searched, they said. Official sources did not comment on reports claiming that the searches were linked to the current political crisis in the state.

 

8:03 PM

Lucknow Bench of Allahabad HC dismisses plea seeking judicial inquiry in Vikas Dubey encounter case

7:37 PM

Sachin Pilot, 19 other Rajasthan MLAs skip Congress Legislature Party meeting

Twenty MLAs, including Deputy Chief Minister Sachin Pilot, did not attend the Congress Legislature Party meeting held at the residence of Chief Minister Ashok Gehlot on Monday amid the political crisis in the state, sources said according to an ANI report.

 

Apart from Pilot, Ved Solanki, Rakesh Parik, Murari Lal Meena, JR Khatana, Indraj Gurjar, Gajendra Singh Shaktavat, Hareesh Meena, Deependra Singh Shekhawat, Bhanwar Lal Sharma, Gajraj Khatana, Vijedra Ola, Hemaram Choudhary, PR Meena, Ramesh Meena, Vishvendra Singh, Mukesh Bhakar, Suresh Modi, Virendra Choudhary and Amar Singh Jatav were not present at the meeting.

 

Virendra Choudhary, however, met Rajasthan Congress in-charge Avinash Pande and party leaders Randeep Surjewala and Ajay Maken in the evening.

 

Sources close to Deputy Chief Minister Sachin Pilot have said that the government headed by Ashok Gehlot does not have the numbers claimed by them. They have also said that the Chief Minister's back garden is not the place to prove the majority and it is done in the assembly.

7:31 PM

Congress MLAs taken to Hotel Fairmont in Jaipur after CLP meeting at CM Ashok Gehlot's residence earlier today