1. Veteran industrialist Pollachi Mahalingam passes away Noted industrialist and three-time MLA, ‘Pollachi’ N Mahalingam died here on Thursday following cardiac arrest suffered at a function.
A staunch Gandhian, educationist and philanthropist, 91-year-old Mahalingam’s end came on the Gandhi Jayanthi Day.
Chairman of the over Rs 5,000-crore Sakthi Group of Companies and Anamallais Bus Transport Ltd (ABT Services), he was participating in a lecture when he suddenly collapsed. He was rushed to a private hospital but declared brought dead, family sources said.
He is survived by wife, three sons —— M Manickam, M Balasubramaniam and M Srinivasan —— and a daughter.
2. Rajan rules out guidelines on wholesale banksNon-banking finance companies and other entities wanting to venture into the wholesale banking space received a set back, when RBI Governor Raghuram Rajan said there was no special need for such banks.
The Raghuram Rajan-appointed committee on financial inclusion, headed by Nachiket Mor, had recommended setting up of special types of banks — the wholesale banks — to meet the funding needs of certain section of corporates (like infrastructure companies).
While the RBI said that it would come out with final guidelines for small banks and payments banks by end-November, , Rajan, , ruled out the possibility of the central bank coming out with any guidelines for wholesale banks.
“Given the structures we have proposed…today with a regular banking licence, you can do wholesale banking. The idea (of wholesale banks) was to raise large amount of funds, long-term funds and not be subject to obligations that regular banks have, because you are dealing with different sets of clients. Today, with our long-term bonds, you can do infrastructure finance, you can do low-cost housing,” Rajan added.
The RBI Governor also said that the central bank will move quickly on issuing small and payments bank licences. The idea for payments bank, Rajan said, is to reach every part of the country in a low-cost way so that we can do basic deposits and also do remittances.
“With the small finance bank, the idea is to get such banks to focus on small customers. They can provide an environment where small and medium enterprises and small farmers might feel comfortable coming in,” he said.
He also said the small banks and payments banks will be subject to a higher degree of regulation during the initial period. “Obviously, we will be careful. We will up the quality and quantity of regulations that initially these new entities are subject to so that we understand the risk and then as time goes along we will allow more entrants,” he said. Rajan further added, “We have got all the creatures to populate this financial zoo and now we have to unleash them and see how the vibrancy emerges.” However, he did not specify a timeline as to when the central bank will open the on-tap licencing window for new set of universal banks.
3. Men's hockey team regain gold, India jump to ninth place
The Indian men's hockey team regained the gold medal after a gap of 16 years while the women's 4x400m relay team also picked up gold as India added four medals to jump to the ninth position in the overall standings in the 17th Asian Games in Incheon on Thursday.
The men's hockey players hogged the spotlight with the thrilling victory over arch-rivals Pakistan to ensure a berth in the 2016 Rio Olympics.
The women 4x400m relay team, comprising Priyanka Panwar, Tintu Luka, Mandeep Kaur and M.R. Poovamma, then added to the euphoria by clinching the gold medal with the Asian Games record timing.
Boxers Satish Kumar (+91kg) and Vikas Krishnan (75kg) contributed to the medal collection as they settled for bronze medals on a relatively good day for the Indians.
4. Asian Games: Indian women’s kabaddi team wins gold
The Indian women’s kabaddi team notched up its second successive gold medal at the Asian Games, beating Iran 31—21 in the summit clash here today.
India thus maintained their supremacy in women’s kabaddi, which made its Asiad debut in the previous edition in Guangzhou.
In the final match, the Indians were slow off the blocks but clawed back with utmost ease showing just why they are considered the powerhouse of the sport.
5. Men’s kabaddi team bags seventh successive Asiad gold
The Indian men’s kabaddi team clinched its seventh successive gold medal at the Asian Games after coming from behind to beat a spirited Iran 27—25 in the summit clash in Incheon on Friday.
The Indian team, which has been winning gold ever since the sport was introduced on the Asiad roster in 1990, was given a massive scare by Iran, who had finished runners-up in the 2010 edition as well. After two gold medals in Kabaddi India now at 6th position
6. Jan Dhan: banks asked to set up Rs. 75-cr corpus for media campaign
Public sector banks have been asked to pick up the tab on media campaign expenses incurred for the Pradhan Mantri Jan Dhan Yojana, the flagship programme of the Modi-led Government.
The Department of Financial Services (DFS) in the Finance Ministry has advised the Indian Banks’ Association (IBA) to create a corpus of Rs. 75 crore to meet all the media campaign expenses for the scheme, sources in the banking industry said.
IBA has, in turn, approached its member banks seeking an initial aggregate contribution of Rs. 30 crore for the expenses already incurred and also expected to be spent shortly.
While public sector banks would have little option but to cough up money towards this corpus, indications are that private and foreign banks are keen to escape
The DFS has also urged NABARD, Life Insurance Corporation, General Insurance Corporation and pension regulator PFRDA to contribute ( Rs. 15 crore) towards the corpus.
7. Priyanka Chopra accepts PM’s ‘Clean India Campaign’ invite
Actress Priyanka Chopra has accepted Prime Minister Narendra Modi’s invite to clean public places as a part of his ‘Swachh Bharat Mission’.
Modi today appealed to people to dedicate 100 hours a year towards cleanliness, and as a part of which he also invited Bollywood stars Salman Khan and Kamal Haasan to help clean public places.
Priyanka took to Twitter to show her support for the PM’s cleanliness drive. “I humbly accept respected Prime Minster Narendra Modiji’s challenge. This is an idea that is long overdue CleanIndiaCampaign.”
The ‘Mary Kom’ actress also encouraged her fans to contribute towards the mission.
“If we don’t get involved and support this campaign, nothing can happen. But if we come together we can make a difference. Every action we take will be important. I want to make the change. I want a clean India. It’s time to clean up our act,” she wrote on her Twitter page.
Bollywood superstar Aamir Khan also joined Modi’s mission by taking the pledge with him at India Gate to thousands of people, including schools children and Government employees at Rajpath for remaining committed to cleanliness to make the country clean.
8. Nobel-winning physicist Martin Perl dies at 87
Martin Perl, a Nobel Prize-winning physicist from Stanford University who discovered a subatomic particle known as the tau lepton, has died at age 87.
The university said the retired professor, one of two American scientists who shared the Nobel Prize for physics in 1995, died at Stanford Hospital on Tuesday.
At the time Perl discovered the tau lepton, many physicists doubted the particle that would turn out to be a heavyweight cousin of the electron existed. He eventually proved them wrong using a new kind of accelerator in which electrons and positrons course in opposite directions and collide.
9. Super Kings take on Knight Riders in CLT20 final
The indomitable Chennai Super Kings will have the advantage of familiarity with the conditions but the unbeaten Kolkata Knight Riders would still be a tough nut to crack when they clash in the Oppo Champions League T20 final at the Chinnaswamy Stadium in Bangalore on Saturday.
Both teams had met in the final of the 2012 Indian Premier League, when Kolkata defeated Chennai by five wickets.
In this year’s Indian Premier League both were at par, winning a game apiece against each other. However, unlike the Knight Riders, CSK have played most of their group matches and will definitely have an edge as far as familiarity factor is concerned.
1. Veteran industrialist Pollachi Mahalingam passes away Noted industrialist and three-time MLA, ‘Pollachi’ N Mahalingam died here on Thursday following cardiac arrest suffered at a function.
A staunch Gandhian, educationist and philanthropist, 91-year-old Mahalingam’s end came on the Gandhi Jayanthi Day.
Chairman of the over Rs 5,000-crore Sakthi Group of Companies and Anamallais Bus Transport Ltd (ABT Services), he was participating in a lecture when he suddenly collapsed. He was rushed to a private hospital but declared brought dead, family sources said.
He is survived by wife, three sons —— M Manickam, M Balasubramaniam and M Srinivasan —— and a daughter.
2. Rajan rules out guidelines on wholesale banksNon-banking finance companies and other entities wanting to venture into the wholesale banking space received a set back, when RBI Governor Raghuram Rajan said there was no special need for such banks.
The Raghuram Rajan-appointed committee on financial inclusion, headed by Nachiket Mor, had recommended setting up of special types of banks — the wholesale banks — to meet the funding needs of certain section of corporates (like infrastructure companies).
While the RBI said that it would come out with final guidelines for small banks and payments banks by end-November, , Rajan, , ruled out the possibility of the central bank coming out with any guidelines for wholesale banks.
“Given the structures we have proposed…today with a regular banking licence, you can do wholesale banking. The idea (of wholesale banks) was to raise large amount of funds, long-term funds and not be subject to obligations that regular banks have, because you are dealing with different sets of clients. Today, with our long-term bonds, you can do infrastructure finance, you can do low-cost housing,” Rajan added.
The RBI Governor also said that the central bank will move quickly on issuing small and payments bank licences. The idea for payments bank, Rajan said, is to reach every part of the country in a low-cost way so that we can do basic deposits and also do remittances.
“With the small finance bank, the idea is to get such banks to focus on small customers. They can provide an environment where small and medium enterprises and small farmers might feel comfortable coming in,” he said.
He also said the small banks and payments banks will be subject to a higher degree of regulation during the initial period. “Obviously, we will be careful. We will up the quality and quantity of regulations that initially these new entities are subject to so that we understand the risk and then as time goes along we will allow more entrants,” he said. Rajan further added, “We have got all the creatures to populate this financial zoo and now we have to unleash them and see how the vibrancy emerges.” However, he did not specify a timeline as to when the central bank will open the on-tap licencing window for new set of universal banks.
3. Men's hockey team regain gold, India jump to ninth place
The Indian men's hockey team regained the gold medal after a gap of 16 years while the women's 4x400m relay team also picked up gold as India added four medals to jump to the ninth position in the overall standings in the 17th Asian Games in Incheon on Thursday.
The men's hockey players hogged the spotlight with the thrilling victory over arch-rivals Pakistan to ensure a berth in the 2016 Rio Olympics.
The women 4x400m relay team, comprising Priyanka Panwar, Tintu Luka, Mandeep Kaur and M.R. Poovamma, then added to the euphoria by clinching the gold medal with the Asian Games record timing.
Boxers Satish Kumar (+91kg) and Vikas Krishnan (75kg) contributed to the medal collection as they settled for bronze medals on a relatively good day for the Indians.
4. Asian Games: Indian women’s kabaddi team wins gold
The Indian women’s kabaddi team notched up its second successive gold medal at the Asian Games, beating Iran 31—21 in the summit clash here today.
India thus maintained their supremacy in women’s kabaddi, which made its Asiad debut in the previous edition in Guangzhou.
In the final match, the Indians were slow off the blocks but clawed back with utmost ease showing just why they are considered the powerhouse of the sport.
5. Men’s kabaddi team bags seventh successive Asiad gold
The Indian men’s kabaddi team clinched its seventh successive gold medal at the Asian Games after coming from behind to beat a spirited Iran 27—25 in the summit clash in Incheon on Friday.
The Indian team, which has been winning gold ever since the sport was introduced on the Asiad roster in 1990, was given a massive scare by Iran, who had finished runners-up in the 2010 edition as well. After two gold medals in Kabaddi India now at 6th position
6. Jan Dhan: banks asked to set up Rs. 75-cr corpus for media campaign
Public sector banks have been asked to pick up the tab on media campaign expenses incurred for the Pradhan Mantri Jan Dhan Yojana, the flagship programme of the Modi-led Government.
The Department of Financial Services (DFS) in the Finance Ministry has advised the Indian Banks’ Association (IBA) to create a corpus of Rs. 75 crore to meet all the media campaign expenses for the scheme, sources in the banking industry said.
IBA has, in turn, approached its member banks seeking an initial aggregate contribution of Rs. 30 crore for the expenses already incurred and also expected to be spent shortly.
While public sector banks would have little option but to cough up money towards this corpus, indications are that private and foreign banks are keen to escape
The DFS has also urged NABARD, Life Insurance Corporation, General Insurance Corporation and pension regulator PFRDA to contribute ( Rs. 15 crore) towards the corpus.
7. Priyanka Chopra accepts PM’s ‘Clean India Campaign’ invite
Actress Priyanka Chopra has accepted Prime Minister Narendra Modi’s invite to clean public places as a part of his ‘Swachh Bharat Mission’.
Modi today appealed to people to dedicate 100 hours a year towards cleanliness, and as a part of which he also invited Bollywood stars Salman Khan and Kamal Haasan to help clean public places.
Priyanka took to Twitter to show her support for the PM’s cleanliness drive. “I humbly accept respected Prime Minster Narendra Modiji’s challenge. This is an idea that is long overdue CleanIndiaCampaign.”
The ‘Mary Kom’ actress also encouraged her fans to contribute towards the mission.
“If we don’t get involved and support this campaign, nothing can happen. But if we come together we can make a difference. Every action we take will be important. I want to make the change. I want a clean India. It’s time to clean up our act,” she wrote on her Twitter page.
Bollywood superstar Aamir Khan also joined Modi’s mission by taking the pledge with him at India Gate to thousands of people, including schools children and Government employees at Rajpath for remaining committed to cleanliness to make the country clean.
8. Nobel-winning physicist Martin Perl dies at 87
Martin Perl, a Nobel Prize-winning physicist from Stanford University who discovered a subatomic particle known as the tau lepton, has died at age 87.
The university said the retired professor, one of two American scientists who shared the Nobel Prize for physics in 1995, died at Stanford Hospital on Tuesday.
At the time Perl discovered the tau lepton, many physicists doubted the particle that would turn out to be a heavyweight cousin of the electron existed. He eventually proved them wrong using a new kind of accelerator in which electrons and positrons course in opposite directions and collide.
9. Super Kings take on Knight Riders in CLT20 final
The indomitable Chennai Super Kings will have the advantage of familiarity with the conditions but the unbeaten Kolkata Knight Riders would still be a tough nut to crack when they clash in the Oppo Champions League T20 final at the Chinnaswamy Stadium in Bangalore on Saturday.
Both teams had met in the final of the 2012 Indian Premier League, when Kolkata defeated Chennai by five wickets.
In this year’s Indian Premier League both were at par, winning a game apiece against each other. However, unlike the Knight Riders, CSK have played most of their group matches and will definitely have an edge as far as familiarity factor is concerned.
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