The live blog session has concluded. For more news, views and updates, stay tuned with Moneycontrol.com.
Delhi records hottest day in March at 34.1 degrees Celsius: IMD
-- Delhi recorded its hottest day in March this year at 34.1°C yesterday, the Indian Meteorological Department (IMD) said.
-- It added that heat wave conditions were observed at places in theKonkan region.
-- Meanwhile, temperatures above normal by 5 to 7°C were reported in Jammu and Kashmir, Himachal Pradesh, and Uttarakhand, and 1°C to 5°C across the rest of India.
India exports military hardware worth Rs 13,399 crore so far this fiscal
India exported military hardware worth Rs 13,399 crore till March 6 in the current fiscal, a significant increase from just Rs 4,682 crore in 2017-18, according to data presented in Rajya Sabha by MoS Defence Ajay Bhatt
ICC may launch war crimes cases against Russia over Ukraine war
-- The International Criminal Court (ICC) may seek the arrest of Russian officials for forcibly deporting children from Ukraine and targeting civilian infrastructure, Reuters reported quoting a source.
-- The arrest warrants could include the crime of genocide.
-- This would be the first international war crimes case arising from Moscow's invasion of Ukraine.
ALERT:
Trading has reportedly been temporarily halted in dozens of regional United States banks after shares slumped following the collapse of Silicon Valley Bank.
ALERT:
India's retail inflation is above RBI's target level for the second month
Ram Mandir to be connected with four-lane Parikrama road
The Ram Mandir being built here will be connected with the Chaudah Kosi Parikrama Marg, which will be converted into a four-lane road, a senior official said here on Monday. Every year after Diwali, lakhs of devotees perform a 'parikrama' of the temple town on the narrow road.
66 killed, 158 injured in police custody after Himanta became Assam CM
Sixty-six accused were killed and 158 others injured in police custody after Himanta Biswa Sarma became the chief minister of Assam in May 2021, the assembly was told on Monday. In a written reply to a query by AIUDF MLA Ashraful Hussain, Sarma said 35 accused were killed and 12 others were injured in gunfights with the police between May 10, 2021 and February 28, 2023.
23 DRDO projects won’t meet deadlines, Govt informs
Twenty-three of 55 high-priority projects being implemented by the Defence Research and Development Organisation (DRDO) could not meet deadlines, the Govt tells RajyaSabha.
Sultan Ahmed Bin Sulayem -- UAE’s Group Chairman and CEO of DP World – is setting up a large facility in Jammu & Kashmir in logistics infrastructure, Piyush Goyal informs.
Developed world, which has caused over 50% of pollution problems, must provide promised resources: Piyush Goyal
Elaborating on the need for collective solutions, Piyush Goyal said: “The polluter pay principle was accepted by all in Paris. The developed world which has caused over 50% of the problem has less than 70% of the world's population. It was agreed trillions of dollars will be required to make the world a safe place to live in. I call upon the developed nations to provide promised resources to enable the world to adopt clean energy, net zero goals faster.”
He added: “India has only contributed about 2% of the ozone problem that is there despite having 16% of the world’s population.”
Commerce Minister Piyush Goyal addresses Confederation of Indian Industries Partnership Summit 2023 in New Delhi, says collective solutions to global challenges are the need of the hour
JUST IN:
United States government approves Alaska Willow oil project, BBC reports
Major crypto coins stabilise after US intervention
Major cryptocurrencies stabilised on March 13 after United States authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar.
Centre may shut e-pharmacies over misuse of data, reports suggest
-- The Government of India may shut down e-pharmacies over concerns of data misuse.
-- The Centre has said that a consultation is currently taking place over the matter.
ALERT:
Russian President Vladimir Putin may attend G20 summit in India, but nothing is decided yet, Kremlin informs
US President says nation’s financial systems are sound
United States President Joe Biden said the nation’s financial systems are sound, following the swift and stunning collapse of two banks that prompted fears of a broader upheaval.
He spoke from the Roosevelt Room shortly before U.S. markets opened on Monday.
Trading in First Republic Bank, Schwab halted for volatility
-- After US market opened today, S&P 500 fell 1.1%, on pace to wipe out all of 2023 gains
-- Trading in First Republic Bank was halted for volatility, it is down 65%
-- Schwab also sank 17% at the open to the lowest intraday since 2020; it extended the drop to 19%, triggering volatility pause
Non-bailable arrest warrants issued against former Pak PM Imran Khan
Two non-bailable arrest warrants have been issued against ousted Pakistan prime minister Imran Khan on March 13 for failing to appear in courts in the Toshakhana case and for threatening a woman magistrate while addressing a public gathering last year.
Maharashtra politics: Bhushan Desai joins Eknath Shinde camp
Bhushan Desai, son of former industries minister and Uddhav Thackeray faction leader Subhash Desai, joins Maharashtra Chief Minister Eknath Shinde's Shiv Sena.
India to host SCO Tourism Ministers Meeting in Kashi
-India to host the Shanghai Cooperation Organisation (SCO) Tourism Ministers’ Meeting (TMM) from 17-18 March in Kashi (Varanasi), which has been designated as the first cultural capital of the SCO: Ministry of Tourism
It was a strategy to prevent both Houses of Parliament from functioning: Jairam Ramesh
-It was a strategy (of govt) to prevent both Houses of Parliament from functioning. The ruling party is making noise because it does not want JPC to investigate the Adani case. The opposition is united on this issue. We will not back down from our demand, says Congress MP Jairam Ramesh
A parliamentary standing committee recommends resumption of fare concession offered to senior citizens by railways before Covid pandemic
We presented an agriculture budget separately in the state: Ashok Gehlot
We presented an agriculture budget separately in the state. Now we have given Rs 20,000 croresubsidy, 2000 units of electricity have been made free which is benefiting 12 lakh farmers in the state, says CM Ashok Gehlot, Jaipur
Former French PM Edouard Philippe to visit India from March 14-17
Fire breaks out in Malad, Mumbai
Level 2 fire breaks out in the shanties of a slum in Malad's Anand Nagar area. No injuries have been reported.
Six Bareilly jail personnel suspended over illegal meetings of visitors with gangster-politician Atiq Ahmed's brother Ashraf, stated Officials
India February CPI inflation 6.44% versus 6.52% in January
India February CPI inflation of 6.44% above RBI’s 4% medium-term target for 41st consecutive month
I can understand the hardships of people, especially youngsters, says Mehbooba Mufti
I can understand the hardships of people, especially youngsters. Already govt jobs are fewer & in those too, there are frauds. They prepare for entrance exams thinking they will be able to serve their parents, then they get to know exam paper has been leaked, states Mehbooba Mufti
FDIC transferred all deposits of Silicon Valley Bank (SVB) to Bridge Bank
-Bridge Bank to continue online banking, ATM services
FDIC names former Fannie Mae chief as CEO of Silicon Valley Bank
-The Federal Deposit Insurance Corporation on Monday named former Fannie Mae head Tim Mayopoulos as the chief executive officer of Silicon Valley Bank, a subsidiary of the defunct SVB Financial Group.
-He steps in after regulators shuttered the startup-focused lender on Friday after a run on its deposits that left it with a dearth of capital.
(Reuters)
Financial irregularities in Red cross society flagged to Health Ministry, CBI initiates enquiry
-The Central Bureau of Investigation (CBI) inquiry has been initiated in five states and union territory regional branches of Red Cross Society.
-The states involved are Tamil Nadu, Kerala, Andaman & Nicobar Islands, Assam and Karnataka.
Financial irregularities in Red cross society flagged to Health Ministry, CBI initiates enquiry
-The Union Health Ministry says it received allegations of corruption and financial irregularities against the Indian Red Cross Society and regional branches in five states across the country.
SC refers plea on same sex marriage to Constitutional bench of 5 judges
Supreme Court will start hearing the case from April 18
SC refers plea on same sex marriage to Constitution bench
-Supreme Court refers plea seeking recognition of same sex marriage to Constitution Bench of 5 judges
The fourth Test between India and Australia ends in a draw. India wins the series 2-1
Govt not interfering in personal life of anybody, says Kiren Rijuju on same sex marriage
Govt not interfering in personal life of anybody. Personal freedom of citizens never regulated by govt. When it comes to institution of marriage, it is a matter of policy. There is a clear distinction, states Union Law Minister Kiren Rijiju on Centre opposing same-sex marriage plea in the Supreme Court.
Today the Congress party has staged protests in the Raj Bhavan of every state: Congress MP
Today the Congress party has staged protests in the Raj Bhavan of every state. We demand an investigation into the Adani issue. Rahul Gandhi kept this issue in parliament and demanded a JPC, says Deepender Hooda, Congress MP
Congress protest over Adani-Hindenburg issue
Congress stage protest against the BJP-led central government in Chandigarh over the Adani-Hindenburg issue on the first day of the state Budget Session
Oshiwara fire has now spread to over 150 wooden furniture shops, traffic in the area is diverted
Bank of England backs HSBC rescue of Silicon Valley Bank's UK arm
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds.
Santa Clara, California-based Silicon Valley Bank which specialised in lending to technology companies was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008.
Directorate of Revenue Intelligence (DRI) still investigating Indonesian Coal Import by Adani Group as information sought from exporting countries ‘under litigation’, says Finance Minister, Nirmala Sitharaman in Parliament
Minister of State for Finance Bhagwat Karad said in response to a separate question:
"As per data received from Public Sector General Insurance companies, namely New India Assurance Company Limited, United India Insurance Company Limited, National Insurance Company Limited, Oriental Insurance Company Limited and General Insurance Corporation of India, total exposure in Adani Group of Companies as on 31.1.2023 is Rs 347.64 crore which is 0.14% of the total AUM of all the five companies."
Iran-Saudi Arabia deal casts China in unfamiliar global role
An agreement between Iran and Saudi Arabia to re-establish diplomatic relations has cast China in a leading role in Middle Eastern politics a part previously reserved for longtime global heavyweights like the U.S. and Russia. It's another sign that China's diplomatic clout is growing to match its economic footprint.
Under strongman leader Xi Jinping, Chinese diplomacy has become known for angry outbursts against the West, threats against Taiwan, aggressive moves in the South China Sea and a refusal to condemn Russia over Ukraine.
The deal reached in Beijing Friday, under which the sides agreed to re-open their embassies and exchange ambassadors after seven years of tensions, shows a different side of Chinese diplomacy. Xi appears to have played a direct part in the talks by hosting Irans president in Beijing last month. He also visited the Saudi capital Riyadh in December for meetings with oil-rich Gulf Arab nations crucial to Chinas energy supplies.
Places of worship converted into private tenements by priests, imams & rights claimed in illegal manner: HC
The Delhi High Court has expressed concern over conversion of public places of worship into private tenements after which rights are sought to be claimed over the property by priests, pandits, imams, caretakers and their families in an illegal and unauthorised manner. The high court said places of worship are converted into residences and occupied by people taking care of the premises, including their extended families, domestic help and other trespassers, which is be contrary to law.
Amid ruckus over Rahul Gandhi's comments during his lecture in London, Lok Sabha and Rajya Sabha adjourned for the day
Session to commence at 11 am on Tuesday
State-Run LIC Has $755M Debt Exposure to Adani Companies
LIC has a debt exposure of Rs 6183 crore ($755 million) to Adani Group companies as of March 5: FM Sitharaman to Parliament
Pankaj Chaudhary, MoS Finance: Market regulator SEBI investigating allegations against Adani Group of companies
Lok Sabha proceedings resumed, opposition leaders demanding JPC into Adani-Hindenburg row, BJP leaders seeking apology from Rahul Gandhi.
JKPCC president among those detained during Congress march in Jammu
In the wake of the Adani issue and Jammu and Kashmir administration's alleged anti-people policies, Congress activists, including Pradesh Congress Committee president Vikar Rasool Wani, were detained on Monday here.
In addition to chanting slogans in support of statehood restoration and early elections in the Union Territory, protesters included Congress working president Raman Bhalla and former minister Yogesh Sawhney.
China's 'zero COVID' response 'completely right', highly effective: China’s new Premier Li Qiang
Despite public protests and harsh criticism, China's new Premier Li Qiang said the country's zero COVID policy, which has hurt the country's economic growth, is completely right and delivers extremely effective results.
According to Li, the COVID-19 response has been smooth in China, a country with a large population, and normal economic and social order has been restored.
"For over three years, under the leadership of the Communist Party, the Chinese people have united in fighting COVID-19, and now we have achieved a major and decisive victory against the disease, Li said and avoided using the term zero COVID.
"China is a country with a large population and unbalanced development. It took less than two months for it to achieve a smooth transition in its response to the disease and to restore normal socioeconomic order. It is indeed a remarkable achievement," Li said.
He said China's COVID-19 strategy is completely right and its response is highly effective.
Farmers and workers starts Nashik-to-Mumbai foot march led by CPI(M) over several issues
In Maharashtra's Nashik district, the Communist Party of India (Marxist) led a march of farmers and workers from Dindori to Mumbai on Sunday to draw attention to various demands of these sections.
Farmers and workers in the unorganised sector are taking part in the 'Long March' organized by the organizers in support of demands such as the Minimum Support Price (MSP) for onions, a fair price for agriculture produce, a waiver of electricity bills for farmers, speedy compensation for crop losses caused by unseasonal rains, and forest land rights for farmers.
The march will also feature Accredited Social Health Activists (ASHAs) and tribal members.
