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IndusInd Bank has reported a Rs 2,100 crore discrepancy in its accounting, primarily linked to its derivatives portfolio, which could impact approximately 2.35% of its net worth by December 2024. Despite assurances from CEO Sumant Kathpalia that the bank has sufficient reserves and capital to manage the situation, shares plummeted over 27%, closing at Rs 655.95. The discrepancy, which accumulated over 5-7 years, was first noted in October 2023, prompting the bank to engage an external agency for an independent review. Kathpalia acknowledged that the issue had been communicated to the Reserve Bank of India (RBI) last week. In a related development, the RBI granted him a one-year extension as MD & CEO, a decision he attributed to concerns about his leadership amid the ongoing crisis. The bank aims to resolve the discrepancies by early April with the external agency's report. 
Published: Mar 12 2025, 3 pmeznews.inElon Musk's Starlink is poised to launch its satellite-based broadband services in India, following a welcome message from Union Information Technology Minister Ashwini Vaishnaw. Major telecom operators Airtel and Jio have entered agreements with Starlink, which are pending government authorization. Vaishnaw highlighted the potential benefits of Starlink for railway projects in remote areas. Airtel's agreement with SpaceX aims to enhance connectivity for communities, schools, and health centers in rural regions. Gopal Vittal, Managing Director of Bharti Airtel, called the partnership a significant milestone in advancing satellite connectivity, while Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, noted that Starlink would add to India's technological landscape alongside existing mobile networks like 4G, 5G, and future 6G.
Published: Mar 12 2025, 10 pmeznews.inThe Karnataka government has withdrawn police involvement in the Ranya Rao gold smuggling case, transferring the investigation to the Central Bureau of Investigation (CBI) just days after the CBI took over the case concerning 14 kilograms of gold smuggled at Bengaluru International Airport. Rao, arrested on March 3 with gold concealed in her clothing, is currently in jail custody for 14 days following her questioning. She has alleged mistreatment by police, claiming she was "verbally tortured" and denied rest during the first 24 hours of custody. Her lawyer noted several protocol violations during her arrest, including a failure to inform her of her rights. Concurrently, the Directorate of Revenue Intelligence (DRI) is investigating financial transactions linked to the smuggling, suggesting the operation was facilitated by a syndicate and a state Protocol Officer who aided Rao in bypassing customs.
Published: Mar 12 2025, 10 pmeznews.inAn American dog owner in Memphis, Tennessee, was accidentally shot by his pet, a one-year-old pit bull named Oreo, after the dog jumped on the bed and triggered a loaded firearm. The incident occurred early Monday morning while the man was asleep next to his partner, resulting in a graze to his left thigh that required hospital treatment. According to police, Oreo's paw became lodged in the trigger guard, leading to the accidental discharge. While the type of weapon was not specified, the police categorized the event as an "accidental injury." Although gun violence is a significant issue in the U.S., such cases involving pets are uncommon. Previous incidents include a German shepherd in Kansas that fatally shot a man and a pit bull-Labrador mix in Iowa that injured its owner. The victim's girlfriend advised others to use safety measures like trigger locks to prevent similar accidents.
Published: Mar 12 2025, 10 pmeznews.inThe ongoing 'language war' between Tamil Nadu and the central government intensified on Wednesday, as Chief Minister MK Stalin accused the BJP of attempting to impose Hindi through the National Education Policy (NEP). Stalin criticized Union Education Minister Dharmendra Pradhan, labeling him "arrogant" and claiming the NEP is a "saffronisation policy" designed to promote Hindi rather than national unity. He argued that the central government's withholding of ₹2,150 crore in funding for state-run schools until the NEP is accepted undermines Tamil Nadu's educational system and federal rights. Stalin questioned Prime Minister Narendra Modi's commitment to federalism, asserting that the BJP is seeking "political revenge" for past electoral losses in the state. The BJP, however, contends that the NEP will benefit Tamil students and denies forcing Hindi upon them, while accusing the DMK of politicizing the issue ahead of the upcoming Assembly elections.
Published: Mar 12 2025, 8 pmeznews.inThe secret to a long and healthy life lies not only in genetics but also in lifestyle choices, diet, healthcare, and mindset. Countries with high life expectancies, such as Monaco (87 years), Hong Kong (85 years), and Japan (84 years), showcase key factors contributing to longevity. These include nutrient-rich diets, strong community ties, active daily routines, and access to quality medical care. For instance, Monaco benefits from a Mediterranean diet and a stress-free lifestyle, while Japan’s residents thrive on a diet rich in fish and fermented foods, complemented by a deep sense of purpose. Other notable countries include South Korea, Spain, and Switzerland, all of which emphasize balanced diets, social connections, and stress management. Common themes among these nations highlight the importance of fresh foods, regular physical activity, strong social networks, and effective healthcare systems, all crucial for enhancing longevity and quality of life.
Published: Mar 12 2025, 8 pmeznews.inTwo journalists from Telangana, Pogadadanda Revathi, Managing Director of Pulse News, and reporter Thanvi Yadav, were arrested by Hyderabad Police's Cyber Crime division on Wednesday for allegedly disseminating abusive content about Chief Minister Revanth Reddy. A third individual, known as 'NippuKodi' on X, was also detained. The arrests followed a complaint from the Congress' state social media unit, citing charges ranging from publishing obscene material to inciting violence. The complaint centered on a video where a Pulse News reporter interviews a farmer making derogatory remarks about the Chief Minister. The opposition BRS condemned the arrests, with KT Rama Rao accusing Congress of stifling criticism and likening the situation to a state of emergency. He criticized the police's early morning raid on Revathi's home and questioned the government's commitment to press freedom. BJP spokesperson Shehzad Poonawalla also criticized the Congress for targeting journalists highlighting farmers' struggles.
Published: Mar 12 2025, 7 pmeznews.inIn a tragic incident in Southeast Delhi's Badarpur, a 42-year-old woman, identified as Pooja, and her two daughters, aged eight and 18, have reportedly died by suicide amid financial distress, having been unable to pay rent for two months. Police were alerted to a foul smell emanating from their home in the Molarband area, leading to the discovery of the decomposed bodies, which showed signs of having consumed a poisonous substance. Authorities believe the trio may have died four to five days prior to their discovery. Preliminary investigations suggest that financial difficulties were a probable motive for this tragic act. A crime team has been dispatched to the scene to conduct further inquiries and legal proceedings are underway, as the community grapples with the heartbreaking circumstances surrounding their deaths.
Published: Mar 12 2025, 6 pmeznews.inIn a bid to promote communal harmony during the rare overlap of Holi and Ramazan on March 14, the Uttar Pradesh administration has announced the covering of ten mosques in Sambhal. Sambhal Superintendent of Police, Shrish Chandra, stated that the decision aims to facilitate celebrations for both communities while preventing potential disturbances. The identified mosques, including the Shahi Jama Masjid and Gol masjid, will be shielded during the 'Chaupai' procession, a customary event during Holi. Additionally, an agreement has been reached to adjust the timings of Friday prayers to avoid clashes with the procession. Local authorities and police will maintain strict vigilance to ensure safety, and a peace meeting was held with religious leaders to discuss measures for preventing communal strife. This proactive approach reflects a commitment to fostering peaceful coexistence during significant cultural and religious events.
Published: Mar 12 2025, 5 pmeznews.inIn a heated exchange in the Bihar Legislative Council, Chief Minister Nitish Kumar and Rashtriya Janata Dal (RJD) leader Rabri Devi traded accusations as the political climate intensifies ahead of elections. Kumar criticized the RJD's record on women's welfare during its time in power, referencing Lalu Yadav's decision to appoint Rabri as Chief Minister after his resignation due to a corruption case. Rabri retaliated, questioning Kumar's assertions about women's clothing in Bihar before 2005 and alleging that he disrespects women. The confrontation escalated, with Rabri accusing Kumar of being influenced by his party members and asserting her accomplishments as the state's first female Chief Minister. Tejashwi Yadav, Rabri's son and Assembly Opposition Leader, added that Kumar's verbal attacks on women reflect poorly on him. Kumar's political history includes shifting alliances, notably with the BJP, as he prepares for the upcoming Lok Sabha elections.
Published: Mar 12 2025, 5 pmeznews.inElon Musk's SpaceX is set to introduce Starlink's satellite internet service in India, following agreements with the country's leading telecom operators, Bharti Airtel and Reliance Jio. This initiative aims to enhance internet access in remote areas, where traditional services have been limited or slow. Telecom expert Sandeep Budki highlighted that satellite connectivity will enable broadband services in open areas, with potential applications in education and healthcare. Jio will stock Starlink equipment in its retail outlets, while both deals hinge on government approval for operations. Budki noted that initial services may target businesses, with consumer pricing expected to be high, although competitive pressures could lead to promotional trials. Starlink, which has already been successful in over 125 markets, is awaiting a license to operate in India, with delays attributed to national security concerns.
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