Latest News Today – Indian Railways’ Rail Land Development Authority (RLDA)


According to RLDA, the reference Built-Up Areaofthe site is 6,173.89 square metre

Indian Railways statutory body Rail Land Development Authority (RLDA) invited online bids for commercial development of land parcel at Nizamabad in Telangana. According to a statement shared by the organisation, the site is located in the Hyderabad Division of South Central Railways zone and spans across an area of 2,204.96 square metres. The site is easily accessible from the railway station and main bus stand and is mostly surrounded by semi-commercial and commercial development. (Also Read: Bids Invited To Lease Land Parcels For Commercial Development In Rajasthan )

According to RLDA, the reference Built-Up Area of the site is 6,173.89 square metre, and its reserve price is Rs 3.95 crores. According to the project, the land will be leased out for a period of 45 years. The online pre-bid meeting was conducted today – June 3, 2021, and the deadline for the bid submission is July 26, 2021.

The land site is situated in a densely populated commercial area adjacent to the Nizamabad Bus Depot, abutting an 18 metre wide road. It is surrounded by the Nizamabad railway station and covered by a vacant railway land to the north and east. 

According to the statement, the selected bidder will be mandated to carry out the development as per the local building bylaws and bear all expenses to procure the necessary clearances and approvals from the relevant authorities. The concessionaire will be allowed to market and sub-lease the built-up area for any lawful activities.



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Latest News Today – Bengal Bureaucrat To Centre’s Notice


Centre sent Alapan Bandyopadhyay a show-cause notice asking him to explain his absence from PM meet

New Delhi:

The Bengal bureaucrat at the heart of the latest clash between Chief Minister Mamata Banerjee and Prime Minister Narendra Modi has replied to the Centre’s notice accusing him of skipping the PM’s meeting last week. Former Chief Secretary Alapan Bandopadhyay has said in his response that he did not “abstain” from PM Modi’s Cyclone Yaas meeting at Kalaikunda in Bengal and that he was there “till the Chief Minister was there”.

He has said “as per the directive of Chief Minister Mamata Banerjee”, he left the PM’s meeting last Friday for a review of the damage caused by Cyclone Yaas in Digha town, according to sources quoted by Press Trust of India.

For allegedly missing PM Modi’s meet along with Mamata Banerjee, Mr Bandyopadhyay was transferred to the Centre and ordered to report to Delhi on his last day of service and serve three months of his extension there.

Mamata Banerjee refused to release him and Mr Bandyopadhyay chose to retire instead of moving to Delhi, after which he was appointed Chief Adviser to the Chief Minister.

Just hours before his retirement on Monday, the Centre sent him the show-cause notice asking him to explain his absence from PM Modi’s meeting.

Mamata Banerjee and her team had left after a brief interaction with the Prime Minister at the air base where he had landed after an aerial review of the Odisha and Bengal coastline. The Chief Minister’s refusal to stay and attend the meeting was partly linked to the presence of her former aide-turned-BJP MLA Suvendu Adhikari at the meeting as Leader of Opposition.

She has since asserted she had other scheduled meetings and had left only with the Prime Minister’s permission.

The show cause notice to Mr Bandyopadhyay accused him of making PM Modi and other members of his entourage wait for nearly 15 minutes.

“In view of the absence, the Chief Secretary (Mr Bandyopadhay) was called by an official as to whether they wanted to participate in the review meeting or not. Thereafter, Chief Secretary arrived along with Chief Minister of West Bengal inside the meeting room and left thereafter immediately,” the Centre said.

OnTuesday, government sources defended its actions, saying the Chief Secretary, as an All India Services officer, “chose to ignore his constitutional duties”.

Government sources said his retirement showed that Mamata Banerjee was on the backfoot. “She knows that facts of the matter are against the Chief Secretary and his behaviour was such that it will invite strict disciplinary action… All India officers are not expected to be part of politics. Mamata knows all this and his retirement is a last bid to save him,” they said.



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Latest News Today – Balancing ‘Sewa’ and Business – The Wave Group


About 100,000 sugarcane growers are associated with the Wave Group and earn their livelihood.

A humble beginning into the sugar mills’ business, in barely five decades, has transformed into one of India’s leading business conglomerates – The Wave Group. A good mix of innovation and diversification led by exemplary visionary late Mr. Gurdeep Singh Chadha has been the group’s success mantra. Today, the Wave Group stands tall with a diverse business portfolio comprising sugar manufacturing, green power production, food processing, and real estate.

Besides these, enabling new-age education for leaders of tomorrow and the Indian cornerstone of education infrastructure for specially-abled kids – Mata Bhagwanti Chadha Niketan(MBCN) are the two entities that are closest to the heart of the man who stands behind the Wave Group today, Mr. Manpreet Singh Chadha. A young, tech-savvy, passionate, strategic thinker and a master administrator is how one can define him. It is his unrelenting pursuit of technological interventions and delivering outstanding service standards in the business that has helped the group achieve an enviable growth trajectory.  

Fast-tracking Growth

The foundational values of innovation, commitment, integrity, adaptation, and passion for excellence have proven to be the growth drivers for the group. Imbibing these values, Wave Group implemented cutting-edge technological innovations in agro-business more than two decades back! From skilling of farmers to scientific farming, introducing advanced tech systems like automated cane weighment, integrated cane accounting, online cane payments integrated with banks, in-house ERPs, have been first-of-its-kind technologies in the sugar industry.

About 100,000 sugarcane growers are associated with the Wave Group and earn their livelihood. While the group contributes significantly to the economic ecosystem of the region in western U.P, it has given a new life to the farmers in the form of a stable and sustained source of income.

A smart city comprising automated technologies, sustainable & eco-friendly waste management and power consumption, integrated management system but above all – an affordable, healthy and safe abode led to the ideation of the group’s marquee real estate projects – Wave City. Counted as amongst India’s one of the largest smart city, in terms of scale and expanse, it accommodates people from all sections of the society thereby delivering a truly cohesive multicultural miniature of India! Get to know more here.

Education is probably the most significant apparatus in the battle against social and economic marginalization in India. With this keen understanding, the group has an unwavering focus on introducing the best of experts, edu-tech, and infrastructure for the students of Genesis School with an aim to build leaders of tomorrow.

MBCN, an unparalleled example of school for specially-abled kids, located in Noida is another protracted endeavour of the group. Catering to the rehabilitation of children with intellectual impairment, cerebral palsy, autism spectrum disorder, hearing impairment, and multiple disabilities, the team of special educators and therapists ensures the holistic educational and emotional development of its students. MBCN has transformed the lives of more than 25000 special children in the past two decades.

From Strength to Strength

A business founded on the core values of ‘Sewa’ (selfless service to all) which has the principles of diversity and inclusivity. The dynamic and experienced leadership team at the Wave Group ensures that these principles transcend into the business culture at the group and resonate in all the strategic aspects of business, viz: employees, growth plans, sustainability, corporate social responsibility, etc. The fact that the real estate/manufacturing business at Wave has more than 30% of women in a leadership position, much beyond industry standards, is a testament to the group’s commitment to its core values.

Challenges galore in any business and most impactful, undoubtedly, have been the onslaught of the Covid pandemic. While operational challenges loomed on the manufacturing business, reverse migration threatened to halt real estate project, the Wave Group showed remarkable resiliency and took the challenges in stride. Wave Group is about finding opportunity in adversity.

Besides leveraging collaborative solutions for business continuity, the Wave Group’s CSR arm, The Ponty Chadha Foundation (PCF), stepped in to undertake one of the most holistic and 360-degree approach towards Covid relief for masses.

From aligning with government authorities to provide oxygen concentrators to hospitals, setting up free health desk for medical support and medicine distribution, regular sanitization and distributing food and juice to construction workers and weaker sections of the society, establishing free oxygen banks, setting up fully furnished emergency health centres, with ready ambulance and health experts for residents, distributing mineral water at crematoriums – PCF did not leave one stone untouched in its timely Covid relief initiatives.

True to its core value of ‘Sewa’, it aligned with Gurudwaras across Delhi NCR by providing financial support for medical requirements, rations, and oxygen langars (community kitchen). True, the Indian growth story of the Wave Group is one of its kind. It shall continue to balance ‘Sewa’ and business to grow from strength to strength. 

The wave Group bears the responsibility of the accuracy and completeness of the above article.

Disclaimer: This is an advertorial and NDTV is not responsible for the accuracy of the content.



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Government Bond Yields Expected to Stay Low as Inflation Fears | Sidnaz Blog


U.S. and European government bond yields ticked higher Thursday after strong business survey readings in Europe, but investors said the recent rise was overdone and that fears inflation would soon cause central banks to lift interest rates had subsided.

Encouraging figures in the European services industry purchasing managers’ surveys buoyed hopes around the reopening of the economy, though the continent’s inflation outlook remains much weaker than in the U.S. The European Central Bank will likely signal no change in the size of its bond buying at next week’s rate-setting meeting, investors said.

German 10-year yields inched up to minus 0.191% Thursday, below the recent two-year high of minus 0.108%, according to Tradeweb. U.S. 10-year Treasury yields were also marginally higher at 1.599% from 1.591% on Wednesday. This is also below a recent high of 1.683% and the March highs of about 1.73%.

Yields have risen sharply and bond prices fallen in recent weeks as investor concern grew that rising inflation would lead central banks to start tightening their monetary policy by reducing their bond purchases.

In Europe, some ECB board members suggested that the central bank should start dialing down bond purchases even though inflation expectations in Europe remain subdued. However, Isabel Schnabel, the central bank’s executive board member from Germany, has since said that cutting monetary support too early would be a great mistake.

The European Central Bank is expected to maintain the size of its bond-buying program at its next policy meeting.



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Alex Kraus/Bloomberg News

“This has been a key source of confusion about Europe,” said Mike Bell, global market strategist at J.P. Morgan Asset Management. “There is a greater diversity of views on policy at the ECB than at the Federal Reserve.”

He added that investors had got overexcited about the potential for rate rises in the U.S. and Europe sooner than J.P. Morgan Asset Management expects. “We do still think that bond yields can move higher, but things went a long way in a very short period,” Mr. Bell said.

German 10-year yields started the year at minus 0.6%, while 10-year Treasurys were at less than 1%. Mr. Bell thinks German yields could make it back to zero by the end of 2021, and Treasury yields could get to 2% within the next 12 months.

Inflation fears have been more heated in the U.S., but many investors and analysts still expect reductions in bond buying and rate rises to be some way off.

Europe is beginning to reopen its economy as the Covid-19 crisis eases, but is behind the U.S. in several ways. The eurozone is less than halfway toward its target of vaccinating 70% of adults, and its financial stimulus has been slower, smaller and less targeted at consumers than the U.S.’s version, according to analysts.

Europe’s inflation outlook also looks weak. The headline rate will rise above the ECB’s target of below but close to 2% this year, but only because of energy costs and higher German sales taxes, according to Morgan Stanley economists. Inflation will be well below target this year excluding those factors and remain there even including energy in 2022, they estimate.

“The rebound in consumer demand in the U.S. is just not being seen in Europe,” said Dominic White, head of economics at Absolute Strategy Research. “There will be a rebound in spending in Europe as it opens up, but nowhere near what we’re seeing in the U.S.”

Write to Paul J. Davies at [email protected]

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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Latest News Today – In Surprise Move, PM Modi Joins CBSE Session With


PM Modi addressed the concerns of students and their parents during today’s session.

New Delhi:

Prime Minister Narendra Modi today surprised a bunch of CBSE students and their parents by logging into an interactive session organised for them by the Union Education Ministry. He shared encouraging words with them, heard out their anxieties, and received their heartfelt thanks for cancelling the board’s Class 12 exams for academic year 2021.

PM Modi’s June 1 decision was made keeping in mind the prevailing Covid conditions and the students’ health and safety.

“I joined you suddenly…Hope I have not disturbed you, you were having fun…it looked like your joy was boundless because the exam was cancelled,” the Prime Minister told the students today.

He asked students if they were tensed before the exams and, on their responding positively, stumped them with, “Then my writing the book was futile. I had written in Exam Warrior that you should not get tensed (over exams).”

A few moments of awkward silence later, the exchange took off again.

One child from Guwahati then recalled reading his book and cited some of the suggestions he had made in the book which helped her.

Addressing Hiteshwar Sharma, a student from Panchkula, PM Modi said: “You were a topper in Class 10, and obviously expecting to top Class 12, too. But now that there is no exam, that won’t happen.”

A thankful Master Sharma responded saying the efforts he put in won’t go waste. “The knowledge will remain with us. Someone who has remained consistent will remain the topper whatever new criteria is used now.”

The CBSE has said it will now gauge students’ progress over the past year based on well-defined objective criteria.

The Prime Minister sought the children’s views on those who, in their overconfidence, refuse to wear masks during the pandemic. Some of the participants then cited their own experiences on this front and narrated their work — street plays and projects — in creating awareness about the disease and the precautionary measures.

He concluded the session by emphasising the need for team spirit in the country, which will help overcome challenges of the future, too.

“The Covid period has shown us examples of team spirit…We have faced trouble, but will come out of stronger…that’s the message many Indians are giving out,” he said.

“I am confident that wherever you go, you will emerge shining and take the country forward,” he said, encouraging the youth to use this “Corona period” to help people around them.

Yesterday, PM Modi had elaborated on his decision on Twitter, in the process quoting a few thankful parents and teachers.



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Sign Up for WSJ’s Five-Week Investing Challenge | Sidnaz Blog




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Tammy Lian

If you’re looking for a project, sign up for WSJ’s five-week newsletter course to challenge your investing know-how. The course is written by the columnists of Heard on the Street, The Wall Street Journal’s financial and economic analysis column. We will run through our best lessons for understanding how to invest in the stock market, from how to pick a stock to why diversification matters.

You can sign up here for the free Heard Investing Challenge, and we hope you will also stick around to play our annual stock-picking contest, which begins in August.

This is how the challenge works: You will get one email a week with an activity aimed at improving your knowledge of how to invest. Every week, you will receive a greeting from one of us, a warm-up exercise to get you in a moneymaking mood, and a detailed step-by-step challenge. These are suitable for investors of any level, so play along even if you feel like a pro—there are insights you probably haven’t encountered.

Sign up for the newsletter and check out what we’ve created. And don’t forget to let me know what you think—I’ll be reading your emails.

Write to Spencer Jakab at [email protected]

Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8



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Latest News Today – WhatsApp Fake Message Claims Free Internet Access From


A fake WhatsApp message is in circulation that claims the government is offering free Internet access to 100 million users for three months. The Press Information Bureau (PIB) has flagged the message as fraud and confirmed that no such announcement has been made by the government. The message also carries a link that could be used maliciously to trick users and steal their personal data. Users are advised to not pay attention to any such messages and inform their contacts about the scam.

PIB tweeted the details about the fake WhatsApp message on June 1, along with a short video highlighting the content of the message. The video shows that the message falsely tells users that the offer under which the government is giving free Internet access is available to Jio, Airtel, and Vi (Vodafone Idea) users until June 29. It also includes a fraudulent link that takes to a website asking personal details about users.

 

By giving details on any such websites may risk your personal data. The government has also advised users to not open suspicious links such as the one available in the message shown in the PIB video as those could allow fraudsters to maliciously harm users.

This is notably not the first time when a fake message has been in circulation through WhatsApp. In April, a message claiming to bring WhatsApp Pink spread over the instant messaging app that could have allowed attackers to obtain user data and access to the phones of affected users. The PIB also just last week informed about another fake message in which it was falsely claimed that WhatsApp would start showing red ticks to indicate government’s control on the app.

WhatsApp has features including the ‘forwarded many times’ label to restrict circulation of fake messages on its platform to some extent. The Facebook-owned company also provided tips about how its users could prevent the spread of rumours and fake news. However, despite those moves, several users are often being preyed upon by bad actors spreading fake information.


Does WhatsApp’s new privacy policy spell the end for your privacy? We discussed this on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, and wherever you get your podcasts.

For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook, and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel.


Jagmeet Singh writes about consumer technology for Gadgets 360, out of New Delhi. Jagmeet is a senior reporter for Gadgets 360, and has frequently written about apps, computer security, Internet services, and telecom developments. Jagmeet is available on Twitter at @JagmeetS13 or Email at [email protected] Please send in your leads and tips.
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AMC, BlackBerry, Sundial Growers: What to Watch When the Stock | Sidnaz Blog


A massive rally in meme stocks during Wednesday’s trading session showed signs of losing steam. Here’s what we’re watching before trading gets under way Thursday.

  • AMC Entertainment


    AMC 95.22%

    reversed earlier gains to fall 9% after it said it plans to sell 11.5 million shares and cautioned investors that current market prices are unrelated to business fundamentals. “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company wrote in a filing.

  • BlackBerry


    BB 31.92%

    also pared earlier gains, but was still up 13% premarket.

    Express


    EXPR 36.48%

    shares also did an about-face to decline more than 12% premarket.

  • Pot stocks gained, with

    Sundial Growers


    SNDL 13.00%

    up more than 7% premarket and

    Tilray


    TLRY 11.90%

    adding 3.3%.

  • Cryptocurrencies advanced, with bitcoin gaining more than 2% at $38,734.55 and ether up 2.6% at $2,794.53.
  • Futures tied to the S&P 500 fell 0.7%, pointing to a decline for the broad market gauge after the opening bell. Read our full market wrap here.
  • The number of Americans applying for first-time unemployment benefits fell to 385,000 last week down from 405,000 the prior week—a new pandemic low. The ADP employment report showed that the U.S. added 978,000 private-sector jobs in May.

BlackBerry shares were climbing in premarket trade on Thursday.



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mike blake/Reuters

What’s Coming Up
Market Movers to Watch
  • Smartsheet


    SMAR 2.09%

    shares gained 4.8% premarket after the cloud-computing company reported a quarterly loss but revenue that came in ahead of expectations.

  • Semtech


    SMTC -1.62%

    ‘s profit more than doubled in the latest period as sales rose 28% from the year earlier, driven by record sales in its wireless and sensing-products group. Its shares added 4.2% in premarket trading.

  • Conn’s


    CONN 0.50%

    shares rallied more than 6% after the retailer of furniture, mattresses, home appliances, consumer electronics and home-office products reported its highest quarterly profit in its 131-year history, as it booked gains in its retail and credit segments.

  • Software company

    Splunk


    SPLK 2.92%

    reported a 16% revenue increase in the latest period but its net loss widened on higher operating expenses, driven in part by its transition to the cloud. Shares fell 4.7% premarket.

Market Facts
  • In a rally reminiscent of the Reddit-fueled craze of late January, AMC shares almost doubled to $62.55 Wednesday, notching their first record close since 2015. AMC shares jumped so far so fast that trading was temporarily halted four times.
  • Dogecoin jumped 21% on Wednesday after Coinbase Global said it would allow users to trade the joke cryptocurrency on a platform geared toward more experienced investors.
  • On this day in 1775, the national debt of the U.S. was born, as the Continental Congress authorized a loan of 6 million pounds sterling to buy gunpowder—showing they were prepared to borrow money more than a year before they were ready to declare independence.
Chart of the Day
  • Dogecoin and NFTs have captured the public’s imagination, but money is also flooding into another hot, and risky, corner of the cryptocurrency market: DeFi.
Must Reads Since You Went to Bed

Write to [email protected]

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Latest News Today – IDBI Bank Secures $ 239 Million Debt Judgment In London


Loan and guarantee were governed by English laws and were subject to jurisdiction of English courts.

IDBI Bank has secured a $ 239 million judgment in the commercial division of the High Court of London against a Cypriot subsidiary of India-based Essar Shipping Group, believed to be one of the largest debt judgments obtained by an Indian bank in the English courts. Mumbai-headquartered IDBI had entered into loans totalling $ 148 million with two Singapore registered companies — Varada Drilling One Pte Ltd and Varada Drilling Two Pte Ltd — for the construction of two jack up drilling rigs in March 2013.

IDH International Drilling Holdco Ltd (IDH), the Cypriot-registered parent company of the borrowers, gave a corporate guarantee in respect of the loan. The loan and guarantee were governed by English laws and were therefore subject to the jurisdiction of the English courts.

“This is an important judgment both in terms of its size and the message it sends to defaulters that Indian banks are willing and able to recover outstanding debts through the English courts,” said Nick Curling, legal director at TLT LLP, the London law firm representing IDBI.

According to the law firm, in July 2017, after the borrowers failed to make scheduled repayments, IDBI served a formal demand for repayment of the principal amount, contractual interest, default interest and fees. After further non-payment, the borrowers entered liquidation in Singapore and, in January 2020, TLT commenced proceedings in the UK on behalf of IDBI.

Subsequently, IDBI, IDH and Essar Capital Holdings Limited, another Essar Shipping Group company, entered into a “one time settlement” agreement pursuant to which IDBI agreed to accept a partial payment in full and final settlement of the debt, provided the sum was paid on or before February 28 this year.

No such payment was received and, on March 1, IDBI applied for summary judgment, arguing there was no real prospect of IDH successfully defending the claim at trial. The case was heard in the Commercial Court on May 21 by Deputy High Court Judge Leigh-Ann Mulcahy QC.

There was no immediate statement from the Essar Group. The TLT team, which also included Indian banking litigation specialists Paul Gair (partner) and Alex Morris (solicitor), said the case demonstrates the ability of Indian banks to pursue defaulting borrowers and guarantors in the UK.

The law firm is also currently representing a consortium of 13 Indian banks led by the State Bank of India in enforcing a 1.145 billion pounds debt recovery judgment against Vijay Mallya, 65, the former boss of now defunct Kingfisher Airlines. Mallya, an accused in a bank loan default case of over Rs 9,000 crore, has been in the UK since March 2016



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