LIVE: Karnataka CM-elect Basavaraj Bommai promises pro-people governance

News live updates: Centre says it can only be a facilitator between states in their border disputes, reacting after six Assam policemen were killed in clashes.

9:36 PM

Will take everyone along, says Karnataka CM-designate Bommai

Basavaraj Bommai, who was chosen as Karnataka's new Chief Minister at the legislature party meeting here on Tuesday, stated that he will take everyone along with him. "I will take everyone along with me in administration. It is going to be a pro-people government. Addressing the challenges of Covid and natural calamity will be my priority," he said. "The situation of finances in the state is not good. Will take steps to improve the situation," he said.

 

On the cabinet, he said that he will meet Governor Thaawarchand Ghelot on Tuesday night and later, discuss the matter with party leaders. Bommai, who is seen as close confidante of outgoing Chief Minister B.S. Yediyurappa, said: "Yediyurappa is going to be our leader always."

 

"I thank Prime Minister Narendra Modi, party chief J.P. Nadda and Home Minister Amit Shah for the opportunity. Yediyurappa has blessed me," he added. "Party legislators have elected me unanimously and I will live up to their expectations," he said.

8:46 PM

Latest News LIVE: I am confident Bommai will lead Karnataka on the path of development, says Yediyurappa

8:43 PM

Unanimous decision: Karnataka BJP leader K Sudhakar on Basavaraj Bommai as CM pick

8:38 PM

Latest News LIVE: Will give pro-people governance, says Karnataka CM-elect Basavaraj Bommai

8:35 PM

Why Yediyurappa quit as Karnataka CM on the day of his govt's second anniversary

BS Yediyurappa stepped down as chief minister of Karnataka on Monday, along with his entire council of ministers, but till late in the evening there was no word on who his successor would be.

 

Usually, when a chief minister changes, his council of ministers stays in place. That the party high command asked all ministers to step down as well indicated the Bharatiya Janata Party (BJP) wanted no collateral damage from Yediy­urappa’s ‘resignation’, and wanted to give his successor a chance to create his own team.

 

Although the 78-year-old Yediyurappa, who was in tears while resigning, was in no position to dictate terms, his supporters said all he wanted was honour and dignity as he stepped down. In political terms, he was conveying to the party that he did not want the party to appoint as his replacement, colleagues who had derided and diminished him and had played a part in ousting him. Read here

8:23 PM

A Karnataka BJP Legislative Party meeting was held earlier in Bengaluru, to decide on new Chief Minister

8:12 PM

LIVE: BJP picks Basavaraj Bommai to be the next CM of Karnataka

Basavaraj S Bommai to be the next CM of Karnataka, announces BJP observer for the state and Union Minister Dharmendra Pradhan

7:34 PM

Latest News LIVE: US state secy arrives in Delhi on a two-day visit

7:32 PM

Latest News: Karnataka ministers, MLAs meet to elect new chief minister

7:16 PM

Online lending platforms can't be allowed to charge exorbitant interest: HC

The Delhi High Court Tuesday said online lending platforms offering short-term personal loans through mobile apps cannot be allowed to charge exorbitant interest and processing fees and asked the Centre and RBI to look into the issue.

 

An expert body is required to look into the issue, the high court said, added that it expects that the Centre and RBI will come out with some solution by the next date of hearing, August 27.

 

Rate of interest should not be exorbitant. Just look at the difficulties. An expert body is required. If you people are so slow in taking action, we will do it with our order with the help of an expert committee, a bench of Chief Justice D N Patel and Justice Jyoti Singh said.

 

The bench further said, This much of exorbitant rate of interest and processing fees cannot be allowed. (PTI)

6:53 PM

IMF slashes India's economic growth forecast for FY22 to 9.5%

The International Monetary Fund (IMF) has sharply scaled down India’s economic growth projection by 300 basis points to 9.5 per cent for the current financial year from 12.5 per cent estimated earlier in April. IMF said the downward revision is owing to “lack of access to vaccines” and possibility of renewed waves of coronavirus.

 

“Growth prospects in India have been downgraded following the severe second Covid wave during March–May and expected slow recovery in confidence from that setback,” IMF said in the latest edition of its flagship World Economic Outlook (WEO) report, released on Tuesday. Read here

6:03 PM

Latest News: Jharkhand govt hikes DA of state employees from 17% to 28% effective July 1

Jharkhand government has decided to increase the Dearness Allowance of the state employees from 17% to 28%. This will be effective from 1st July 2021.

5:57 PM

Latest News: Rupee declines by 5 paise to 74.47 on strong dollar sentiment

The rupee slipped by 5 paise to close at 74.47 (provisional) against the US currency on Tuesday as the dollar strengthened in the overseas markets and the domestic equity indices closed with losses.

 

Forex traders said the rupee is trading in a narrow range as investors are awaiting cues from the US Fed's policy decision due on Wednesday and month-end rebalancing.

 

At the interbank foreign exchange market, the local unit opened at 74.36 against the dollar and witnessed an intra-day high of 74.35 and a low of 74.54 during the session.

 

The local unit finally ended the day at 74.47, down 5 paise over its last close. On Monday, the rupee had settled at 74.42 against the US dollar. (PTI)

5:30 PM

Latest News: Flipkart to challenge Karnataka HC order on CCI probe in SC, says report

Walmart's Flipkart has appealed to India's Supreme Court against a state court's decision that allowed an antitrust probe into the e-commerce firm and its rival Amazon.com Inc to continue, three sources told Reuters on Tuesday.

 

The High Court in Karnataka state last week dismissed cases filed by Amazon and Flipkart which sought to quash the Competition Commission of India's (CCI) 2020 investigation. The companies denied any wrongdoing, but the court said "they should not feel shy in facing an inquiry."

 

On Tuesday, Flipkart filed an appeal in the Supreme Court, challenging that decision, three people familiar with the proceedings said. Read here

5:19 PM

LIVE: Mamata seeks SC-monitored probe into Pegasus scandal after meeting PM

LIVE: Mamata seeks SC-monitored probe into Pegasus scandal after meeting PM

4:52 PM

Higher Q1 tax mop-up shows economy on recovery path: Govt

Increased tax collection in the first quarter this fiscal shows that the economy is on the recovery path, Minister of State for Finance Pankaj Chaudhary said on Tuesday.

 

Net direct tax collection in the April-June quarter of the current fiscal is over Rs 2.46 lakh crore, as against more than Rs 1.17 lakh crore during the same period of the previous fiscal. Read here

3:58 PM

India vs Sri Lanka: Krunal Pandya tests positive for Covid-19, second T20I postponed

India vs Sri Lanka: Krunal Pandya tests positive for Covid-19, second T20I postponed, reports ANI

3:39 PM

Latest News: Global markets sink ahead of Fed update on economy

Global stock markets declined Tuesday as investors looked ahead to a Federal Reserve report for an update on when US stimulus might start winding down.

 

London and Frankfurt opened lower while Shanghai and Hong Kong declined. Tokyo advanced.

 

On Monday, Wall Street's benchmark S&P 500 index rose to a new record, shrugging off worries about the spread of the more contagious delta variant of the coronavirus.

 

Investors awaited the Fed report Wednesday for signs of the central bank's level of concern about inflation and when it might start rolling back easy credit and other economic stimulus. Minutes of the Fed meeting in June showed board members discussed how and when they might reduce monthly bond purchases that inject money into the financial system. (PTI)

3:31 PM

Latest LIVE: Lok Sabha adjourned till 3:30 pm, Rajya Sabha till 4 pm amid Oppn uproar

Latest LIVE: Lok Sabha adjourned till 3:30 pm, Rajya Sabha till 4 pm amid Oppn uproar

2:57 PM

Latest News: Veteran journalists N Ram and Sashi Kumar move SC seeking Pegasus probe

Veteran journalists N Ram and Sashi Kumar have moved the Supreme Court seeking an independent probe by its sitting or retired judge into the reports of alleged snooping by government agencies on eminent citizens, politicians and scribes by using Israeli spyware Pegasus.

 

The petition, likely to come up for hearing within next few days, sought to investigate if the illegal hacking into the phones using the Pegasus spyware represented an attempt by agencies and organisations to muzzle and chill the exercise of free speech and expression of dissent in India.

 

It also sought a direction to the Centre to disclose if the government or any of its agencies obtained license for Pegasus spyware and used it, either directly or indirectly, to conduct surveillance in any manner. Read here

2:47 PM

Latest News LIVE: Lok Sabha adjourned till 3 pm amid sloganeering by Oppn MPs

2:28 PM

Latest News: Indian shooters endure another forgettable outing, fail to clear mixed team qualifications

Indian shooters endured yet another forgettable outing at the Tokyo Olympics here on Tuesday as they crashed out in the qualifying stages of the mixed team events in both pistol and rifle.

 

Considered the team's best bet for a podium finish, the duo of Saurabh Chaudhary and Manu Bhaker caved in under pressure and failed to qualify for the final of the 10m air pistol mixed team event.

 

Thy finished seventh in Qualification 2 after topping the first phase with 582 at the Asaka Range. Both the 19-year-old shooters lost the plot completely when the top eight teams battled it out in the second phase.

 

The other Indian team in the event, Abhishek Verma and Yashaswini Singh Deswal, failed to clear Qualification 1 and finished in 17th place, having totalled 564 across six series (three each for one member). (PTI)

2:03 PM

Govt seeks extension till Jan 9 for framing CAA rules

The central government has sought extension till January 9 for framing rules of the Citizenship Amendment Act (CAA), which was passed by Parliament in 2019, Minister of State for Home Affairs Nityanand Rai informed Lok Sabha on Tuesday.

 

He was replying to a question from Congress MP Gaurav Gogoi on whether the government had missed the deadline to frame and notify CAA rules and the steps taken in this context.

 

"The Citizenship (Amendment) Act, 2019 (CAA) has been notified on 12.12.2019 and has come into force w.e.f. 10.01.2020, the minister said. (PTI)

1:58 PM

Latest News LIVE: MPs of SAD protest against farm laws in Parliament

1:44 PM

Latest News: Axis Bank buys 5.55% stake in financial tech firm IBBIC

Axis Bank on Tuesday said it has bought 5.55 per cent stake in financial technology firm IBBIC.

 

The bank has subscribed to 50,000 equity shares of face value of Rs 10 each fully paid up of IBBIC Private Ltd (IBBIC) for a consideration of Rs 10 per equity share constituting 5.55 per cent of the issued and paid up capital of IBBIC, Axis Bank said in a regulatory filing.

 

Incorporated in May this year, IBBIC platform offers distributed ledger technology (DLT) solutions to the Indian financial services sector.

 

"Equity ownership of IBBIC is aimed at providing DLT solutions for the financial services sector," Axis Bank said. (PTI)

1:25 PM

Centre lists seven inter-state border disputes

Inter-state border disputes can only be resolved with the cooperation of state governments and the Centre just acts as a facilitator in such cases, the government told Parliament on Tuesday. Nityanand Rai, Minister of State for Home, cited at least seven such disputes in the country, with Assam being involved in four. Rai said this in a written statement, according to PTI.

 

12:40 PM

Lok Sabha adjourned till 2pm

Lok Sabha adjourned till 2pm as Opposition protests continue

12:31 PM

Lok Sabha adjourned till 12:30 noon

For the second time on Tuesday, Lok Sabha proceedings were adjourned till 12.30 pm after protest by Opposition members.

12:24 PM

15 questions related to farmers pending in Lok Sabha: Minister

Agriculture Minister Narendra Singh Tomar says the Opposition should allow Lok Sabha to function if they were bothered about farmers, referring to protests against legislation reforming agriculture markets. There are around 15 questions related to farmers. If the Opposition members are really concerned about the farmers, then they should listen to what the government has to say, Tomar said, according to PTI.

12:04 PM

Inox denies report of Amazon eyeing potential stake

Amazon.com Inc's India arm is in talks with several domestic players in film and media distribution including cinema chain Inox Leisure Ltd for a potential stake, Indian Express reported on Tuesday, citing sources. Inox, however, said the report was "factually incorrect" and there were no discussions between the company and Amazon India, said Reuters.