The nation's top financial regulator is asserting that Silicon Valley Bank's own management was largely to blame for the bank's failure earlier this month and says the Federal Reserve will review whether a 2018 law that weakened stricter bank rules also contributed to its collapse.
SVB's failure is a textbook case of mismanagement, Michael Barr, the Fed's vice chair for supervision, said in written testimony that will be delivered Tuesday at a hearing of the Senate Banking Committee.
Barr pointed to the bank's concentrated business model, in which its customers were overwhelmingly venture capital and high-tech firms in Silicon Valley. He also contends that the bank failed to manage the risk of its bond holdings, which lost value as the Fed raised interest rates.
Silicon Valley Bank, based in Santa Clara, California, was seized by the Federal Deposit Insurance Corp. on March 10 in the second-largest bank failure in US history.
Late Sunday, the FDIC said that First Citizens Bank, bas

Press Trust of India

CLOSING BELL:  The S&P BSE Sensex ended 40 points lower, while the Nifty50 was down 34 points. Shares of Adani Group tumbled up to 7 per cent, with Adani Enterprises leading the fall.

Business Standard

These enterprises, the study by Ficci and Randstad says, are well capitalised and have raised series A and B funding rounds

Regulator wants every insurer to have a written policy for payment of commission

15.79 per cent of these start-ups want to keep their headcount unchanged: FICCI - Randstad Start-up Hiring Trends Survey

Accuses tech giant of charging an "exorbitant" commission without providing additional service, while India's entire payment industry is working on 1-5% service fees

In what could probably be a first-of-its-kind instance in an Indian court, the Punjab and Haryana High Court took help of ChatGPT to assess the worldwide view on bail in a case of assault "laced with cruelty".
The court sought aid of ChatGPT -- an artificial intelligence (AI) chatbot -- while hearing the bail plea of an accused in a murder case.
Justice Anoop Chitkara, in his order on Monday, however, made it clear that any reference to ChatGPT and any observation made is neither an expression of opinion on the merits of the case nor shall the trial court advert to these comments.
"This reference is only intended to present a broader picture on bail jurisprudence, where cruelty is a factor," the judge observed.
While dismissing the bail plea, the judge observed "causing death itself is cruel but if the cruelty causes death, the tables turn".
"When the physical assault is done with an element of cruelty, the parameters of bail also change," he further observed.
"...when the offenc

Amid the grim global economic scenario, social media platform Facebook's parent firm Meta sees resilience in India although it will not be immune to international events and the company is optimistic about the prospects in the country, company country Head and Vice-President, Sandhya Devanathan said on Tuesday.
The company will continue to develop India specific products and innovations to tap the huge opportunity provided by digitisation here, she said while speaking at the Times Network India Digital Fest here.
"The news is grim, isn't it? Like anytime you see there's a bank failing, be it SVB or Credit Suisse, interest rates are rising that causes more turmoil in the market, capital markets (are) drying up, VC funding drying up... So, I think the macroeconomic situation suddenly certainly looks grim," she said.
She was responding to a query on the impact of global economic downturn and the drying up of funds and investments in the start-up ecosystem and the Indian tech sector.
"

As many as 11 companies, including Indosol, Reliance and First Solar, have bagged solar photovoltaic manufacturing projects of a total 39,600 MW capacity under the second tranche of the production-linked incentive scheme of the government.
The government has allocated a total capacity of 39,600 MW of domestic Solar PV module manufacturing capacity to 11 companies, with a total outlay of Rs 14,007 crore under the Production Linked Incentive Scheme for High-Efficiency Solar PV Modules (Tranche-II), a power ministry statement said.
The ministry said that manufacturing capacity totalling 7,400 MW is expected to become operational by October 2024, 16,800 MW capacity by April 2025 and the balance 15,400 MW capacity by April 2026.
The Tranche-II is expected to bring in an investment of Rs 93,041 crore. It will also generate a total of 1,01,487 jobs with 35,010 getting direct employment and 66,477 being indirectly employed.
Speaking on the success of the PLI scheme,  Union Minister for Pow

India reported 1,317 cases of H3N2 from January 1 to March 21, according to information provided by states and Union Territories, Minister of State for Health Bharati Pravin Pawar informed the Rajya Sabha on Tuesday.
According to the Indian Council of Medical Research (ICMR), of the 510 H3N2 cases reported through ILI/SARI surveillance in the last two months, 19 patients required ICU admission, Pawar said in a written reply.
As reported by the ICMR, the influenza working group of the National Technical Advisory Group on Immunization is reviewing the data for seasonal influenza vaccination, she added.
Pawar added that the Union Health Ministry is monitoring the situation and has taken several steps to support the states for management of influenza cases, including H3N2. These include issuing an advisory requesting all the states and Union Territories to take necessary steps such closely following the trend of ILI/SARI (influenza-like illness/severe acute respiratory illness) in their

The theme of this year's World Water Day - marked annually on 22 March - is "Nature for Water", which "explores nature-based solutions (NBS) to the water challenges we face in the 21st century" according to the United Nations Environment Programme.The challenges are tough as the UN notes that currently 2.1 billion people "lack access to safely managed drinking water services," while an estimated 1.8 billion "use an unimproved source of drinking water with no protection against contamination from human faeces." Business Standard takes a look at the water challenges faced in India.

World Water Day: Photos that depict the water challenges in India

The theme of this year's World Water Day - marked annually on 22 March - is "Nature for Water", which "explores nature-based solutions (NBS) to the water challenges we face in the 21st century" according to the United Nations Environment Programme.The challenges are tough as the UN notes that currently 2.1 billion people "lack access to safely managed drinking water services," while an estimated 1.8 billion "use an unimproved source of drinking water with no protection against contamination from human faeces." On World Water Day, Business Standard takes a look at the water challenges faced in India.

World Water Day 2018: Photos that depict the water challenges in India

Here’s what the airlines don’t want you to figure out: All it takes is a little points savvy to experience luxurious seats for pennies on the dollar. And thanks to powerful credit cards such as Chase Sapphire Reserve and American Express Platinum, loyal flying may not be necessary. Here are the hacks that will get you into the five best cabins in the skies today.

Want to fly best first-class seats on top airlines at dirt-cheap rates? Try this

Here's what the airlines don't want you to figure out: All it takes is a little points savvy to experience luxurious seats for pennies on the dollar. And thanks to powerful credit cards such as Chase Sapphire Reserve and American Express Platinum, loyal flying may not be necessary. Here are the hacks that will get you into the five best cabins in the skies today.

Flying Officer Avani Chaturvedi has created history by becoming the first Indian woman fighter pilot to fly solo.

Meet Avani Chaturvedi: India's first-ever Indian woman to fly MiG-21 solo

Auto Expo 2018: Concept cars steal the show, two-wheelers not far behind

With national polls looming next year -- and possibly as early as late 2018 -- Finance Minister Arun Jaitley has rolled out a budget designed to help distressed farmers and rural areas while boosting growth, jobs and private investment.

Union Budget 2018: Here's a list of all the gainers and losers

69th Republic Day celebration at Rajpath on Friday at New Delhi

R-Day celebrations: India showcases military might, cultural diversity

Police deployment has been doubled around cinemas across India after the release of Sanjay Leela Bhansali's period drama 'Padmaavat' on Thursday.

Padmaavat row: High security around movie theatres amid violent protests

On February 1, all eyes will be on Finance Minister Arun Jaitley when he rises to present the Union Budget 2018-19 to the nation. Jaitley has his task cut out for the dwindling Indian economy which has decelerated due to note ban and GST,

Budget 2018: Meet the key men who will decide your taxes this year

The future is on display at the Detroit Auto Show - or at least the very-near future. Executives in natty suits (and the occasional sweater) are busy unwrapping a bevy of vehicles that will soon be in dealerships. Here are some of those exciting and eye-catching machines

Top eye-catching machines at the Detroit Auto Show

Prime Minister Narendra Modi on Sunday said Republic Day celebration in 2018 would be "remembered through the ages" because the government for the first time in India's history would host leaders of 10 Asean countries as chief guests on January 26.

These ASEAN leaders will attend India's 69th Republic Day celebrations

Puri (Odisha), March 22(ANI): West Bengal Chief Minister Mamata Banerjee on March 22 visited Puri’s iconic Jagannath Temple. While addressing the media persons, Mamata Banerjee said “I have offered prayers for Indians, people of Bengal and Odisha. I am very grateful that the flag that was there on the top of the temple is given to me.”

West Bengal CM Mamata Banerjee visits at Jagannath Temple in Puri

Puri (Odisha), March 22(ANI): West Bengal Chief Minister Mamata Banerjee on March 22 visited Puri's iconic Jagannath Temple. While addressing the media persons, Mamata Banerjee said "I have offered prayers for Indians, people of Bengal and Odisha. I am very grateful that the flag that was there on the top of the temple is given to me."

Chandigarh, March 22 (ANI): Amid the high-profile crackdown on the ‘fugitive’ pro-Khalistani radical leader Amritpal Singh by Punjab Police, political fumes in the Punjab Assembly is showing no signs of dousing. Congress on March 22 questioned that Punjab police are arresting his associates, but why are they failing to arrest Amritpal Singh. Speaking on this matter, Punjab Minister Brahm Shankar Jimpa said that this behaviour of Congress shows their character. “The character of congress came before people, why they are leaving the house and not being able to face it. It is a request to Shiromani Akali Dal to not do any politics for the peace of Punjab. People of Punjab will never tolerate this,” Punjab Minister said.

Punjab Minister launches bittering attack on Congress over leaving Parliament session

Chandigarh, March 22 (ANI): Amid the high-profile crackdown on the 'fugitive' pro-Khalistani radical leader Amritpal Singh by Punjab Police, political fumes in the Punjab Assembly is showing no signs of dousing. Congress on March 22 questioned that Punjab police are arresting his associates, but why are they failing to arrest Amritpal Singh. Speaking on this matter, Punjab Minister Brahm Shankar Jimpa said that this behaviour of Congress shows their character. "The character of congress came before people, why they are leaving the house and not being able to face it. It is a request to Shiromani Akali Dal to not do any politics for the peace of Punjab. People of Punjab will never tolerate this," Punjab Minister said.

New Delhi, March 22(ANI): Indian boxer Nikhat Zareen won the quarter-finals of Women’s World Boxing Championship against Chuthamat Rakshit of Thailand. While addressing the media persons on March 22, she expressed her happiness over winning the bout and confirming a medal for India.“It was a very close match but I won the match. I am very happy to confirm a medal for my country. Tomorrow I will have a semi-final match,” said Nikhat Zareen.

Anti-India protests by Khalistanis outside the Indian HC in London; Metropolitan police on guard

New Delhi, March 22(ANI): Indian boxer Nikhat Zareen won the quarter-finals of Women's World Boxing Championship against Chuthamat Rakshit of Thailand. While addressing the media persons on March 22, she expressed her happiness over winning the bout and confirming a medal for India."It was a very close match but I won the match. I am very happy to confirm a medal for my country. Tomorrow I will have a semi-final match," said Nikhat Zareen.

Puri (Odisha) March 22 (ANI): West Bengal Chief Minister Mamata Banerjee on March 22 reviewed ‘Bhakta Niwas’ building construction area for West Bengal devotees in Puri. CM Mamata Banerjee is on a three-day visit to Odisha. “Tourists from Bengal come to Odisha. West Bengal devotees in huge numbers visit Odisha and sometimes, they don’t find places to stay and they wander to places. I am grateful that Naveen Ji announced me the State guest. This time we are staying in the Rural development building. I, myself tried to find a room in a hotel but was unable to get it. So, more hotels need to be made in Puri to stay. This is a must thing,” CM Mamata said.

CM Mamata reviews ‘Bhakta Niwas’ building construction area in Odisha

Puri (Odisha) March 22 (ANI): West Bengal Chief Minister Mamata Banerjee on March 22 reviewed 'Bhakta Niwas' building construction area for West Bengal devotees in Puri. CM Mamata Banerjee is on a three-day visit to Odisha. "Tourists from Bengal come to Odisha. West Bengal devotees in huge numbers visit Odisha and sometimes, they don't find places to stay and they wander to places. I am grateful that Naveen Ji announced me the State guest. This time we are staying in the Rural development building. I, myself tried to find a room in a hotel but was unable to get it. So, more hotels need to be made in Puri to stay. This is a must thing," CM Mamata said.

CM Mamata reviews 'Bhakta Niwas' building construction area in Odisha

New Delhi, Mar 22 (ANI): In view of the recent surge in COVID cases in the country, Prime Minister Narendra Modi will hold a high-level meeting today to review the Covid-related situation and public health preparedness. India recorded 1,134 new cases recorded in the last 24 hours, with the active caseload currently at 7,026, stated the Ministry of Health and Family Welfare. Earlier on Tuesday, the national capital recorded one Covid death and 83 fresh cases amid the rising Covid-19 cases in neighbouring Maharashtra. On March 19, the Ministry of Health and Family Welfare also issued revised guidelines for Covid-19 in the wake of the surge of cases.

PM Modi chairs high-level meeting to review COVID-related situation

New Delhi, March 22 (ANI): On March 22, Delhi Chief Minister Arvind Kejriwal promised that the Aam Aadmi Party government will clean the Yamuna river and that he will take a dip in it ahead of the next Assembly elections. Addressing the media persons, Kejriwal said that the government has prepared a six-point action plan to clean the Yamuna river. "A 6-point action plan has been formed to clean Yamuna...Before the next election in 2025, I will take a dip with you in Yamuna. The three landfills (in Delhi) will be cleared by December 2024,” he said.

“Will clean Yamuna before 2025 election, will take dip…” Kejriwal’s promise for 2025 Delhi polls

New Delhi, March 22 (ANI): On March 22, Delhi Chief Minister Arvind Kejriwal promised that the Aam Aadmi Party government will clean the Yamuna river and that he will take a dip in it ahead of the next Assembly elections. Addressing the media persons, Kejriwal said that the government has prepared a six-point action plan to clean the Yamuna river. "A 6-point action plan has been formed to clean Yamuna...Before the next election in 2025, I will take a dip with you in Yamuna. The three landfills (in Delhi) will be cleared by December 2024," he said.

"Will clean Yamuna before 2025 election, will take dip…" Kejriwal's promise for 2025 Delhi polls

Jaipur (Rajasthan), 22 March (ANI):  Chief Minister Ashok Gehlot inaugurated the Rajasthan International Expo at Boranada in Jodhpur. On this occasion, the Chief Minister honoured 20 exporters who have bagged Rajasthan Export Award-2021 for remarkable work in the field of exports. During the expo, the Chief Minister said that due to the excellent industrial policies and programs of the state government, export and investment have increased in Rajasthan. The export of 50 thousand crore rupees done in the year 2022-23 is the result of the efficient management of the state government.Along with this, the Chief Minister said that the MSME policy has been implemented by the government in the state. Due to this, more than 16 thousand industrial units have been established in the state so far. Under the MSME Establishment and Facilitation Act, no government permission is required for 5 years to start an industry in the state. This provision made by the government has increased the number of s

Chief Minister Ashok Gehlot inaugurates Rajasthan International Expo

Rajasthan has best environment for investment and export: CM Gehlot

New Delhi, March 22(ANI): TMC Leader Dola Sen on March 22, reacted to Kailash Vijayvargiya’s remark on post-partition India. She said Kailash Vijayvargiya does not know the true meaning of India. She also said that there was no predecessor of the BJP in the freedom movement. While speaking to ANI, Dola Sen said “There was no predecessor of the BJP in the freedom movement. Whoever went to jail, wrote letters apologising and came out. He (Kailash Vijayvargiya) does not know the true meaning of India.”

Dola Sen condemns Kailash Vijayvargiya’s remark, says there was no BJP during freedom movement

New Delhi, March 22(ANI): TMC Leader Dola Sen on March 22, reacted to Kailash Vijayvargiya's remark on post-partition India. She said Kailash Vijayvargiya does not know the true meaning of India. She also said that there was no predecessor of the BJP in the freedom movement. While speaking to ANI, Dola Sen said "There was no predecessor of the BJP in the freedom movement. Whoever went to jail, wrote letters apologising and came out. He (Kailash Vijayvargiya) does not know the true meaning of India."

Dola Sen condemns Kailash Vijayvargiya's remark, says there was no BJP during freedom movement

New Delhi, March 22 (ANI): Indian Boxer Nitu Ghanghas assured India a medal after reaching semifinals in Women's World Boxing Championship 2023. Confident pugilist said that she wants to win the gold medal. "My performance today bodes well for the coming matches as well. I played watching, and I took an aggressive approach in the end. I want to win the gold medal," she said.

Indian Boxer Nitu Ghanghas eyes gold after winning quarterfinals in Women’s Boxing World C’ships

Indian Boxer Nitu Ghanghas eyes gold after winning quarterfinals in Women's Boxing World C'ships

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