Silicon Valley Bank ‘contagion’ may leave India unscathed
The failure of the U.S.-based Silicon Valley Bank (SVB) may only hit some Indian tech startups and IT firms for now, while any broader “contagion” effects that may arise will neither reach Indian shores in a hurry nor are they likely to trigger “systemic risks”, according to top Finance Ministry officials.
However, the Central government is cognisant of the fact that the key underlying trigger for the Santa Clara-headquartered bank’s woes — rapidly rising U.S. interest rates that have rendered past government bond holdings “underwater”, or loss-making securities — could impinge on the operational health of other financial institutions as well.
Same-sex marriages can rock societal values: Centre
The Centre in the Supreme Court frowned upon same-sex marriage while invoking the “accepted view” that a marriage between a biological man and woman is a “holy union, a sacrament and a sanskar” in India.
“The institution of marriage has a sanctity attached to it and in major parts of the country, it is regarded as a sacrament, a holy union, and a sanskar. In our country, despite statutory recognition of the relationship of marriage between a biological man and a biological woman, marriage necessarily depends upon age-old customs, rituals, practices, cultural ethos and societal values,” the Centre said in a 56-page affidavit filed on March 12.
Adani Group repays $2.15-billion loan due before March 31, prepays Ambuja Cements debt
In continuation of its prepaying the finance, the Adani Group has completed full pre-payment of margin-linked share-backed financing aggregating to $2.15 billion before March 31. Additionally, the promoters have also prepaid the $500-million loan facility taken for financing the acquisition of Ambuja Cements Ltd.
India, Australia for early conclusion of pact on market access
Commerce and Industry Minister Piyush Goyal and his Australian counterpart Don Farrell convened the India-Australia Joint Ministerial Commission on Saturday and discussed negotiations for a full-scale free trade pact and steps to spur investment flows into both countries.
In a joint communique issued on Sunday, Mr. Goyal and Mr. Farrell, Australia’s Trade and Tourism Minister, said they were pleased with the progress in resolving various bilateral technical market access issues and “look forward to concluding” the India-Australia Comprehensive Economic Cooperation Agreement (CECA) soon.
No reaction from India to Beijing’s role in Saudi-Iran deal is disquieting
The Saudi-Iran agreement signed in Beijing on Friday, if successful, will have far-reaching impacts worldwide. The result of negotiations that were kept secret till they reached agreement could signal an easing of tensions between Riyadh and Tehran after many years; peace in Yemen, where the two countries have carried out proxy battles; and a boost for China’s efforts to project itself as a peacemaker.
G-20 meet to focus on blue economy, responsible AI
Responsible application of Artificial Intelligence (AI) and the ‘Blue Economy’ will be the primary issues in focus during brainstorming sessions at the three-day Supreme Audit Institutions-20 (SAI20) Engagement Group delegates’ meet starting on Monday.
Army rescues 370 tourists stranded in snow in Sikkim
Troops of the Army’s Trishakti Corps helped the local police and administration in Sikkim rescue some 370 tourists who were stranded owing to heavy snowfall on Saturday.
The tourists were stuck in about 100 vehicles that were returning from Nathu La, a mountain pass on the border with China, and Tsomgo or Changuu lake to the State’s capital Gangtok.
Under fire, Congress gears up to defend Rahul Gandhi in Parliament
With former Congress president Rahul Gandhi under attack in both the Lok Sabha and the Rajya Sabha for his comments made inside and outside of the House, the Congress is preparing for a confrontation with the BJP in the second part of the Budget session that opens on Monday. But with this being the top agenda, the other Opposition parties are reluctant to be part of the campaign.
Second leg of Budget session from March 13; Govt says priority to pass Finance Bill
The second leg of the Budget session will commence on March 13, 2023 with the government asserting that its priority is to pass the Finance Bill and the Opposition planning to raise issues like the action of central agencies against the BJP’s political rivals and allegations against the Adani group.
Net-zero waste to be mandatory for buildings
All upcoming housing societies and commercial complexes in the country will soon mandatorily have to ensure net zero waste and have their liquid discharge treated, as part of the government’s push for reforming and modernising the sewage disposal system.
Railways issues SOP for transporting arms and ammunition by rail, road
With no standard guidelines till now for providing security to transportation of arms and ammunition by train and road, the Ministry of Railways has rolled out Standard Operating Procedure (SOP) to ensure the safety of such sensitive consignments and their escort personnel.
Two siblings killed in three days in suspected stray dog attacks near Vasant Kunj
A family living in a slum near Vasant Kunj lost two sons, who were allegedly mauled to death by stray dogs in a nearby forest in the span of three days.
The mutilated body of Anand, 7, was found on Friday and Aditya, 5, died after being attacked by dogs on Sunday, the police said.
Dominant Kohli ends a long century drought, puts India firmly in control
The celebrations were subdued. Virat Kohli took off his helmet, raised the bat and kissed the wedding ring dangling from a chain around his neck after he flicked a Nathan Lyon delivery for a single and reached his 28th Test century (186, 364b, 15×4) — the first since November 23, 2019.