Page 11 - Bs Reads

Oppn notices on motion to remove CEC rejected by RS Chairman, LS Speaker

Lok Sabha Speaker Om Birla and Rajya Sabha Chairman C P Radhakrishnan on Monday rejected separate notices from the opposition to move a motion for the removal of Chief Election Commissioner Gyanesh Kumar from his post. The opposition had submitted notices to the Lok Sabha speaker and the Rajya Sabha chairman against the CEC, alleging "partisan and discriminatory conduct in office", "deliberate obstruction of investigation of electoral fraud" and "mass disenfranchisement" among other charges. In separate orders, the Speaker and the Rajya Sabha Chairman refused to admit the notices moved under Article 324(5) of the Constitution, read with other relevant constitutional and statutory provisions, praying for the removal of Gyanesh Kumar as the Chief Election Commissioner. "After due consideration of the notice of Motion and a careful and objective assessment of all relevant aspects and issues involved, the Chairman, Rajya Sabha, in exercise of the powers vested to him under Section 3 of

Oracle names Schneider Electric's Maxson as CFO amid soaring AI spending

Doug Kehring will step down as Oracle's principal financial officer following the appointment and will return to focusing on the company's go-to-market operations

Priyanka says PM Modi 'failed' to address West Asia conflict concerns

Congress leader Priyanka Gandhi Vadra on Monday alleged that Prime Minister Narendra Modi and the Centre have "failed" to address the concerns arising out of the ongoing West Asia conflict, which was affecting lakhs of Indians. Addressing a corner meeting at Peravoor in this northern district as part of the campaign for the April 9 Assembly polls, she claimed that no adequate provisions had been made for the safety and security of Indians in the region. Referring to the situation in the Middle East, the Wayanad MP said India could face more problems in the coming days as the conflict continues to escalate. Taking a dig at the Prime Minister, she alleged that, "Modiji is too busy bowing to the US and Israel." Similarly, she accused Kerala Chief Minister Pinarayi Vijayan of being "too busy bowing to Modiji". According to her, fuel prices in the country were rising steadily and the Centre handed over the energy sector to the United States. "Today, the US decides where we should buy o

RBI cancels Shirpur Merchants' Co-op Bank licence over poor finances

The RBI on Monday said it has cancelled the licence of The Shirpur Merchants' Co-operative Bank as the lender does not have adequate capital and earning prospects. Consequently, the bank ceases to carry on banking business, with effect from the close of business on April 6, 2026, the Reserve Bank said in a statement. The Commissioner for Cooperation, Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator. On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). The RBI said that as per the data submitted by the co-operative bank, about 99.7 per cent of the depositors are entitled to receive full amount of their deposits from DICGC. As on January 31, 2026, DICGC has already paid Rs 48.95 crore of the total insured deposits based on the willingness received from the

JIIF plans to invest ₹80-100 cr in 12-18 months in early-stage startups

Investment platform JITO Incubation and Innovation Foundation on Monday said it plans to invest Rs 80-100 crore in early-stage startups in the next 12-18 months. The platform has invested over Rs 150 crore across more than 100 pre-seed and seed-stage startups over the past two years, and reported over 15 exits during the period. "Over the next 1218 months, the platform plans to invest approximately Rs 80100 crore, with an aim to back 2025 startups annually. Its investment ticket size currently ranges between Rs 1.5 crore and Rs 2 crore, depending on stage and sector," JIIF said in a statement. The platform has also made a Rs 26.5-crore investment in Mumbai-based Atomic Capital. The move allows JIIF to participate in a wider set of investment opportunities beyond direct startup investments. JIIF further said that it plans to launch an accelerator programme focused on the Asia-Pacific region, covering India, the Middle East and Southeast Asia, where the programme will target early-st

Qatar LNG tankers turn back after failed attempt to pass through Hormuz

Transit through Hormuz would be a shot in the arm for Qatar, which supplied nearly a 5th of all LNG last year, even as the country's Ras Laffan export plant has been shut for over a month

Bajaj Alternate Investment Management secures PMS licence from Sebi

Bajaj Alternate Investment Management, an arm of Bajaj Finserv, on Monday said it has received approval from markets regulator Sebi to commence Portfolio Management Services (PMS). The move would help Bajaj Alts expand its footprint in listed equities. With this, the firm strengthens its positioning as a diversified investment platform offering comprehensive solutions across Alternative Investment Funds (AIFs) and PMS, the company said in a statement. "The PMS licence marks a strategic step in our journey to build a differentiated investment platform for discerning investors. It allows us to be a trusted partner in our investors' wealth creation journey. As investor portfolios evolve, there is a growing need for customised and actively managed solutions. "Our PMS platform is designed to address this need while staying anchored to disciplined risk management and long-term wealth creation," said Lakshmi Iyer, Group President-Investments, and MD & CEO, Bajaj Alts. The company said ..

Delhi Assembly security breach: 3 held after masked man drives SUV inside

The vehicle, bearing a Uttar Pradesh registration number, broke through Gate No. 2 at around 2 pm and entered the complex

Textiles Ministry shifts to new office in Netaji Nagar under Vista plan

The textiles ministry on Monday shifted to its new office in General Pool Office Accommodation (GPO 'A') in Netaji Nagar here as part of the Central Vista redevelopment plan. The GPO 'A' Block 3 building is temporarily hosting some government ministries to facilitate the demolition of Udyog Bhawan and Shastri Bhawan. The heavy industries ministry is also likely to shift to its new office in the building this week, people in the know shared. "Today, the office was formally inaugurated with worship and rituals. This new complex is equipped with modern facilities, which will play an important role in making public service more effective, transparent, and accessible," Textiles Minister Giriraj Singh said in a post on X. "With robust infrastructure and a dedicated work culture, this office will prove to be an important step towards providing excellent services under the Ministry of Textiles," the minister stated in another post.

Indian refiners defer maintenance shutdowns to meet local fuel demand: Govt

However, Nayara Energy will shut its 400,000 barrels per day Vadinar refinery for maintenance from April 9, tightening supply of ​liquefied petroleum gas in the country, she said

Sebi wants independent directors to adopt 'constructive approach'

Sebi chairman Tuhim Kanta Pandey on Monday said independent directors discharge a very important responsibility in a company's affairs, and underlined the need for them to adopt a "constructive approach" in discharging their duties. In the comments that came weeks after the resignation of Atanu Chakraborty, an independent director and part-time chairman of HDFC Bank, Pandey said the role of such directors is far more than just compliance, and also encompasses functions like assessing the information and insights from the management, governance, risk management and also financials. "There is a need to discuss on such matters at the board. But a constructive approach (is needed). Shareholders and other stakeholders of a company are influenced by a company's performance and market cap," Pandey told reporters, answering a specific question on investor wealth erosion at HDFC Bank following Chakraborty's resignation. Chakraborty's surprise resignation, citing incongruity in values and ...

TDI Infratech to invest ₹750 crore in 150-acre township project in Ludhiana

Realty firm TDI Infratech on Monday said it will invest Rs 750 crore to develop a 150-acre township in Ludhiana as part of its expansion plan. In the township, the company said it will build luxury group housing, residential plotted developments and low-rise independent floors, targeting both end-users and long-term investors. The project will span over 6 million square feet of developable area. The company, in a statement, said it is "developing about 150 acres of land in Ludhiana for an integrated township with an estimated investment value of Rs 750 crore." Speaking on the expansion, Akshay Taneja, Managing Director, TDI Infratech, said Ludhiana represents a high-potential market with strong economic fundamentals and sustained end-user demand. "Our acquisition of approx 150 acres reflects a long-term commitment to developing a benchmark township that integrates premium housing formats with robust infrastructure and lifestyle amenities. This project also marks an important miles

Iran war: Hormuz traffic hits highest in weeks as more transits are agreed

Iranian vessels continue to dominate traffic, but on Sunday a tanker carrying Iraqi crude made its way through the strait, after Iran said it would grant an exemption to "brotherly Iraq"

Diamond Power Infra bags order worth ₹100 cr from Adani Electricity Mumbai

Diamond Power Infrastructure on Monday said that it has secured an order worth Rs 100.54 crore from Adani Electricity Mumbai Ltd for the supply of cables. The order will be executed from April 2026 to February 2027, a regulatory filing stated. The broad consideration, or the size of the order, is Rs 100,54,10,858, including tax, it said. In a separate filing, the company stated that it has received a letter of intent from Adani Power for the supply of various sizes of power and control cables at Raipur Ph-II Thermal Power Projects, Chhattisgarh. The order worth Rs 43,26,10,349, including GST, will be executed by July 31, 2026. In another filing, Diamond Power said that it has received a letter of intent from Adani Green Energy Ltd for the supply of cables worth Rs 19,57,11,313. The order will be executed within 15 days from the issuance of the letter of intent, it stated.

MCD mayoral, panel elections likely to be held in late April: Officials

Elections to the posts of Mayor, deputy Mayor and key civic panels in the Municipal Corporation of Delhi are likely to be held soon, with the process expected to take place in the last week of April, officials said on Monday. According to the officials, polls to fill three vacant seats in the standing committee from the House are also scheduled during the same window. Last year, the Aam Aadmi Party (AAP) stayed away from the mayor contest, allowing the Bharatiya Janata Party (BJP) to win unopposed. The mayoral post in Delhi follows a rotational system of five one-year terms, where the first year is reserved for women, the second for the general category, the third for the reserved category, and the remaining two again for the general category. A new mayor is elected at the end of each financial year. Last year, the BJP reclaimed control of the MCD after a two-year gap. The previous elections had seen repeated disruptions, with sharp disagreements between AAP and BJP councillors ..

RBI MPC begins policy meet amid West Asia crisis; decision on Wednesday

The Reserve Bank's rate-setting panel on Monday started its three-day brainstorming session on the first bi-monthly monetary policy of the fiscal amid expectations of a status quo on the benchmark lending rate in view of apprehensions of a spike in inflation due to ongoing West Asia crisis. The decision of the six-member Monetary Policy Committee (MPC), headed by Reserve Bank Governor Sanjay Malhotra, will be announced on Wednesday. The RBI has cut rates by a total of 125 basis points since February 2025, marking its most aggressive easing cycle since 2019. It last reduced the rate by 25 basis points in December and maintained status in its last meeting in February. According to experts, the MPC members will take into account the continuing geopolitical tensions in West Asia, volatility in commodity prices and sharp currency movement hitting the value of the domestic currency. They noted that while retail inflation has moved closer to the RBI's medium-term target of 4 per cent, the

Bharti Airtel deploys over 4,300 new 5G sites in eastern Uttar Pradesh

Bharti Airtel on Monday said it has deployed more than 4,300 new 5G sites across eastern Uttar Pradesh in the last 12 months, boosting its network presence in the region. The large-scale network expansion was undertaken across 48 districts of the UP East circle, covering 34 million people across urban centres, growth towns and remote rural villages. By adding an average of 12 new sites every day, Airtel has accelerated the rollout of high-speed connectivity, ensuring customers experience consistent performance for work, education, entertainment and digital payments, the company said in a statement. Customers in Lucknow, Kanpur, Varanasi, Prayagraj, Gorakhpur, Ayodhya, Jhansi and several other districts will directly benefit from this enhanced network footprint. The expanded coverage will enable seamless access to high-speed 5G services, supporting the everyday digital needs of citizens, students, micro entrepreneurs, enterprises and government institutions across urban and rural ...

UAE's Valura.ai makes India debut, onboards 1,000 wealth advisors

Valura.ai, an AI-native global investment platform, on Monday announced the onboarding of over 1,000 wealth advisors across India ahead of its official launch, with a collective AUM pipeline exceeding Rs 3,000 crore over the next 12-18 months. The platform provides access to over one lakh global securities with client assets held in local custody within the IFSC at GIFT City under IFSCA regulation, rather than being routed through offshore brokers. The onboarded network includes independent financial advisors (IFAs), registered investment advisors (RIAs), mutual fund distributors, and chartered accountants. The pre-launch response signals strong demand for a credible global investing infrastructure at a time when India's outbound investment surged 67 per cent to USD 41.6 billion in FY25, and the rupee has depreciated over 8 per cent against the US dollar in the past 12 months, Valura.ai said in a release. "Valura combines AI-driven research and portfolio construction with seamless

Reimagined by crises: Why the United States' Constitution is doomed to fail

A sweeping history traces the US Constitution's roots to medieval England, arguing it was shaped by crisis and expansion rather than pure ideals of liberty

Invest in gold, global funds to cushion portfolio against fall in rupee

Holding gold and global assets can help Indian investors hedge against rupee depreciation, manage inflation risks, and meet dollar-denominated goals such as overseas education and travel