RBI releases draft liquidity norms proposing additional buffers due to electronic fund transfers

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The Reserve Bank of India (RBI) on Thursday released draft guidelines proposing banks to assign additional liquidity buffers for accounts having internet and mobile banking (IMB) facilities to stave off any risks during times of stress.

The draft guidelines follow an announcement by Governor Shaktikanta Das in the April policy review, given the high usage of technological tools in banking that can lead to moving of funds without physically queuing up at bank branches.

"While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the draft circular amending the 2014-issued guidelines on Basel-III Framework on Liquidity Standards' Liquidity Coverage Ratio (LCR), Liquidity Risk Monitoring Tools and LCR Disclosure Standards," said.

"Many incidents keep happening on social media. Our sisters need to be careful while using social media. Social media is an easy way for a stranger to reach you. Do not share any of your personal information with any stranger. If a woman becomes a victim, she hesitates to register a complaint with the police due to fear of

society, " said Harsh Sanghavi.

The CEO of Diageo's Indian business has been summoned by New Delhi anti-corruption police investigating billing and discount practices involving government agencies running liquor retail shops between 2017 and 2020, according to a source and a police notice seen by Reuters.

Hina Nagarajan, the CEO of United Spirits, has been asked to appear before police on Friday and provide several documents related to company sales, according to a confidential July 4 police notice to the CEO seen by Reuters.

External Affairs Minister S Jaishankar meets Chinese counterpart Wang Yi in Vientiane and discusses bilateral ties and situation at the border.

Must ensure full respect for Line of Actual Control & past agreements. It is in our mutual interest to stabilise ties, Jaishankar tells Wang

EAM Jaishankar and Chinese counterpart Wang agree to give strong guidance to complete disengagement process.

Prime Minister Narendra Modi will visit the Kargil War Memorial on July 26 and pay homage to the bravehearts who made the supreme sacrifice in the line of duty, his office said on Thursday.

The prime minister will also carry out the first blast of the Shinkun La Tunnel Project virtually.

"On the occasion of the 25th Kargil Vijay Diwas on 26th July 2024, Prime Minister Shri Narendra Modi will visit the Kargil War Memorial at around 9:20 AM and pay homage to the bravehearts who made the supreme sacrifice in the line of duty," the Prime Minister's Office (PMO) said in a statement.

"I don't know why he said like that, the government is not trying to suppress anyone. But the government will not tolerate anyone who is standing with anti-national elements. He has been elected by the people and the government will support him as long he talks in favour of the nation. However, the government will not tolerate those who support anti-national elements," says Union Minister Chirag Paswan on Congress leader Charanjit Singh Channi's 'undeclared emergency' remark.

The Bombay High Court will soon decide whether the Shirdi-based Shri Sai Baba Sansthan Trust, which is both a charitable and a religious trust, is eligible for exemption from income tax on anonymous donations.

A division bench of Justices Girish Kulkarni and Somasekhar Sunderesan on Wednesday closed its orders on a plea filed by the Income Tax department challenging a October 2023 decision of an Income Tax Appellate Tribunal (ITAT), which held that since the trust is both charitable and religious, it is eligible for exemption from income tax on its anonymous donations.

As per the IT department, the trust received overall donations of over Rs 400 crore till 2019, but only Rs 2.30 crore was spent for religious purposes, while major expenses are for educational institutions, hospitals and medical facilities, which shows it is only a charitable trust.

Government doctors in Haryana began an indefinite strike on Thursday hitting services in the state-run hospitals. The strike has been called by the Haryana Civil Medical Services Association, which represents government doctors in the state, to protest the non-fulfilment of their various demands.

In a bid to resolve the issue, government representatives are holding talks with the doctors' body here. The talks began in the afternoon. The doctors' demands include the formation of a specialist cadre for them and a career progression scheme that ensures parity with their central government peers.

RJD leader Tejashwi Yadav said, "We knew beforehand that BJP-NDA will not give Special Status to Bihar and that JD(U) too is doing drama. With just a small amendment, other poor states like Bihar can be given Special Status. Big amendments have been made earlier too. It is our long-standing demand.NDA has deceived the people of Bihar. PM used to say that he would agitate and hit the streets. Now, the CM is not uttering even a word over Special Status to Bihar."

He further says, "It is true that corruption has risen a lot under Nitish Kumar's governance.If probed fairly, Nitish Kumar too would bear the brunt of it."

The foreign ministers of Russia and China held talks on the sidelines of an Association of Southeast Asian Nations (ASEAN) meeting in Laos on Thursday, Russia's foreign ministry said.

"Sergei Lavrov is holding talks with Chinese Foreign Minister Wang Yi on the sidelines of ASEAN ministerial events," it said. The meeting comes a day after Wang held talks with Ukraine's top diplomat Dmytro Kuleba in China.

Punjab Chief Minister Bhagwant Mann on Thursday said he will boycott the Niti Aayog meeting, which is to be chaired by Prime Minister Narendra Modi on July 27.

Mann also slammed the BJP-led NDA government for withholding the state's funds, including rural development fund and those under the National Health Mission.

Addressing the media in Jalandhar, Mann took on the Centre over the issue of the union budget, which was presented by Finance Minister Nirmala Sitharaman on July 23, and said Punjab did not find any mention in it.

Delhi High Court grants two additional virtual meetings to CM Arvind Kejriwal with lawyers in a week in jail

BJD MP Sasmit Patra says, "Bihar and Andhra Pradesh getting special fund is good. BJD does not grutch them. We are asking a simple question - what wrong have the people of Odisha done to deserve this kind of betrayal by the BJP? The people of Odisha in this election have elected 20 MPs of BJP out of 21. They would've at least hoped that something good would come out of it. But, they would've been shocked by the betrayal of the BJP. It shows that the BJP in Delhi is more intent and interested in running the govt on the hands of their two allies and hence Odisha doesn't matter to them."

Mumbai News Live Updates: Fire breaks out in Kanakia Samarpan Tower in Boriwali area of Mumbai. One dead and three injured.

We expect Canada to take action against anti-India elements who have threatened Indian leaders, institutions, airlines, Diplomats, says MEA.

On the reports on the vandalization of the Temple in Edmonton, Canada, MEA Spokesperson Randhir Jaiswal says, "We have strongly taken up the matter with Canadian authorities, both in Delhi and Ottawa. We condemn the vandalization. We expect the local authorities to take strong and swift action against those responsible. These attacks against Temples have become a recurring occurrence and are done with a purpose which is not difficult to fathom. We have seen a number of such incidents in recent times in Canada. The lack of action against the perpetrators has further emboldened such criminal elements. Those advocating and responsible for extremism and violence need to be brought to justice or else the rule of law and respect for pluralism in Canada will continue to be severely undermined."

MEA News Live Updates: Over 6,700 students have come back from Bangladesh, says Randhir So far, we have had over 6,700 students who have come back from Bangladesh. We have received excellent cooperation from the Bangladeshi government. Our High Commission has arranged for their safe and secure travel to border crossing points or to the airport as the case maybe," says Ministry of External Affairs Spokesperson Randhir Jaiswal in response to a media query on Bangladesh situation.

"Ruling parties are angered. When Rahul Gandhi stood up, their Ministers started proving their loyalty to PM Modi. Today when Charanjit Channi was demanding MSP law, then as well three Ministers were trying to suppress it. The BJP govt has developed a habit to be loyal to PM Modi instead of the country," said Congress leader Gaurav Gogoi on the Budget Session.

In Lok Sabha, BJP MP from Jharkhand's Godda, Nishikant Dubey says, "The state I come from, from Santhal Pargana area - when Santhal Pargana separated from Bihar and became a part of Jharkhand, in 2000 tribals formed 36% of the population in Santhal Pargana. Today, their population is 26%. Where did 10% of the tribals vanish? This House never worries about them, it indulges in vote bank politics. Our State Government - JMM and Congress - are not taking any action over this. Intrusion from Bangladesh is rising in our states. Bangladeshi intruders are marrying tribal women.There are 100 tribal 'mukhiya' in our area but their husbands are Muslims.

Riots broke out in Pakur's Taranagar-Ilami and Dagapara, because people from Malda and Murshidabad are ousting our people and Hindu villages are going empty. This is a serious matter. I am saying this on record, I am ready to resign if what I am saying is incorrect. Jharkhand Police is unable to do anything.

Kishanganj, Araria, Katihar, Malda, Murshidabad should be made a union territory, otherwise Hindus will disappear, and implement NRC. If nothing else, send a Committee of the House there and implement the report of the Law Commission from 2010 that permission is essential for conversion and marriage."

In Lok Sabha, former Punjab CM and Congress MP Charanjit Singh Channi speaks on 'Waris Punjab De' Chief and independent MP from Khadoor Sahib Lok Sabha seat Amritpal Singh

He says, "They speak about Emergency every day. But what about the undeclared Emergency in the country today?.This too is Emergency that a man who was elected as an MP by 20 lakh people in Punjab is behind bars under the NSA. He is unable to present the views of the people of his constituency, here. This too is Emergency."

INDIA bloc to stage a protest on 30th July at Jantar Mantar in Delhi, over the health of CM Arvind Kejriwal who is lodged in jail, says  Aam Aadmi Party (AAP)

With the IMD issuing a red alert for Mumbai amid heavy rains, the Brihanmumbai Municipal Corporation (BMC) on Thursday declared holiday for all schools and colleges in the city.

The municipal corporation has appealed to schools to inform parents and take necessary precautions, an official said. Several areas of Mumbai recorded more than 100 mm of rainfall between 4 am and 1 pm on Thursday, he said.

Lok Sabha adjourned till 3 pm amid war of words between treasury, opposition benches

Table Tennis player Achanta Sharath Kamal and Badminton star PV Sindhu, the Indian flag bearers for the Paris Olympics, have shared their excitement about the upcoming event.

"Waiting for July 26th...when we'll be leading the Indian contingent at the opening ceremony in Paris. It has been a moment that I have been dreaming about in the last 3-4 months. I am excited that I am going to live that moment," says Achanta Sharath Kamal.

PV Sindhu adds, "I am really happy to be the flag bearer with Sharath. It's a proud moment for both of us because it is a once-in-a-lifetime opportunity to be the flag bearer...standing right in the front holding the Indian flag with a fellow Indian."

The India Meteorological Department (IMD) has issued a red alert for Mumbai, forecasting heavy to very heavy rainfall till 8:30 AM on July 26. Residents are advised to take precautionary measures as waterlogging and traffic disruptions are expected across the city.

On Thursday, PM Modi met with all NDA MPs of Maharashtra to discuss several key issues.

Telangana’s Gross State Domestic Product (GSDP) for 2023-24 is Rs. 14,63,963 crores, an 11.9% increase from the previous year. Presenting the State Budget 2024-25, Deputy CM and Finance Minister Bhatti Vikramarka Mallu highlighted this growth, noting it surpasses the national growth rate of 9.1%.

Effective July 29, BMC is removing a 10% water cut that it supplies to the Thane City, Bhiwandi, and Outside City Division Grampanchyats. Heavy rains are filling the reservoirs that provide Mumbai with water, which is causing the amount of water stored to steadily rise: Municipal Corporation of Brihanmumbai (BMC)

Union Minister Jayant Chaudhary emphasized the need for positive discussions in Parliament. Speaking to ANI, he said, "This is an opportunity and the opposition should take it positively... I am happy that the House is running this time. The House has started well and there should be positive discussions."

TMC MP Saugata Roy responded to Parliamentary Affairs Minister Kiren Rijiju's statement, saying, "Modi ji has not received the mandate, which is why more has been given to Andhra Pradesh and Bihar, and this will be discussed."

The US State Department urges Americans to avoid Manipur, Jammu and Kashmir, and areas with Naxalite activity due to heightened risks of crime and terrorism.

The Supreme Court is set to rule on Thursday on whether the royalty payable on minerals is a tax under the Mines and Minerals (Development and Regulation) Act, 1957, and whether only the Centre has the authority to levy such an exaction or whether states also have the authority to levy levies on mineral-bearing land in their territory. The ruling will be delivered by a nine-judge Constitution bench led by Chief Justice DY Chandrachud, who reserved its decision on March 14 after hearing 86 petitions filed by various state governments, mining firms, and public sector undertakings over the course of eight days.

US President Joe Biden addressed the nation today to explain his decision to withdraw from the presidential race and back his deputy, Kamala Harris, as the Democratic Party's contender for the November general elections. Biden, 81, stated that he needed to unite the Democrats. He also stated that Harris is seasoned, tough, and capable.

In Pune, heavy rains have resulted in the tragic death of three young individuals, aged 18-25, who were electrocuted near Z Bridge on the Mutha River around 3 AM today. Senior Police Inspector Swapnali Joshi of Deccan Police stated, "The incident occurred when they were shifting their food stall due to the rise in water level in the Mutha River."

Given the severe weather conditions, District Collector and District Disaster Management Authority Chairman Suhas Diwase has declared a holiday for schools in Pune city and rural areas on July 25. Schools in Khadakwasla, Bhor, Velha, Maval, Mulshi, Haveli talukas, Pune city, and Pimpri Chinchwad have been ordered to close.

The Khadakwasla Dam attained full capacity on Thursday as a result of sustained rains in the catchment area. The Pune administration, according to the District Information Office, upped the water release into the Mutha River to 40,000 cusecs at 6 a.m.

Earlier, at 4 a.m. on Thursday, water was released at a rate of 27,203 cubic seconds. Residents along the riverbanks have been advised to keep careful.

In addition, torrential rains in Pune on Wednesday night flooded homes and structures in Ekta Nagri and Vitthal Nagar. The Pune Fire Department used boats to evacuate residents.

Due to strong rains, a rockslide in Pune Rural's Adharwadi hamlet claimed one life and injured another, according to the district administration of Pune.

Before the opening ceremony on the next day, the archers team will be the first Indians to compete today in the individual ranking rounds. The mixed team air rifle medal rounds at the National Shooting Centre in Chateauroux on July 27 would be India's first opportunity to win a medal. This tournament will include two Indian teams, Sandeep Singh/Elavenil Valarivan and Arjun Babuta/Ramita Jindal. Manu Bhaker will participate in the mixed team competition for 10 m air pistol as well as two individual pistol events.

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