23 January 2021

RBI puts out a proposal to tighten 'Fixed Deposits' by NBFCs


  • Currently NBFCs are categorized as deposit taking and non-deposit taking

  • Within the second category there are systematically important entities

  • New suggestions would have four layers - base layer would be for non deposit taking

  • Deposit taking NBFCs would have a new superstructure for regulation - this structure has not been fully specified, but is expected to be closer to that of the banks

  • In effect, entities taking deposits from customers would have similar regulations on Tier 1 capital, reserves, etc.

  • This would greatly help the folks who stick to 'Fixed Deposits'

source: https://www.moneycontrol.com/news/business/rbi-discussion-paper-proposes-tighter-rules-for-big-nbfcs-6384681.html

21 January 2021

Sedition charge on Portal Editors off

Singjamei police in Manipur’s Imphal West district had registered a suo motu case against the portal’s editor-in-chief, Sadokpam Dhiren, executive editor Aribam Paojel Chaoba, and M. Joy Luwang for an article, “Revolutionary Journey in a Mess”.

Senior journalists approached the chief minister N. Biren Singh

Umanand Jaiswal   |   Guwahati   |   Published 20.01.21, 01:24 AM

Two editors of a web portal, The Frontier Manipur, booked on charges of charges of sedition and helping unlawful organisation on Sunday were not only released on Monday but all charges against them were also dropped.

Singjamei police in Manipur’s Imphal West district had registered a suo motu case against the portal’s editor-in-chief, Sadokpam Dhiren, executive editor Aribam Paojel Chaoba, and M. Joy Luwang for an article, “Revolutionary Journey in a Mess”.

The article, written by Luwang and published on the portal on January 8, was a criticism of the state’s armed groups and had also issued a call to “work with togetherness” to streamline the “revolution”.

The police said the article “openly endorsed revolutionary ideologies and activities and expressed shock and dismay at the deteriorating character of the armed revolutionary leaders of Manipur” and lead to the registration of the case against the editors who have admitted to publishing it but denied knowledge about the author.

The FIR says the accused attempted to bring hatred/contempt/disaffection against the government and of hatching a criminal conspiracy and being a sympathiser of unlawful organisation. The were booked under Sections 124A (sedition), 120B (criminal conspiracy), 505(b) (incitement) and 34 (common intent) of the IPC, and Section 39 of the Unlawful Activities (Prevention) Act, which deals with furthering the activity of a terrorist organisation.

Dhiren and Chaoba’s lawyer, Chongtham Victor, had on Sunday night said they have been arrested and were to be produced in court on Monday. But he refused to comment on the matter on Monday.

Sources familiar with the case told The Telegraph that the “intervention” of the All Manipur Working Journalists Union seeking the release of the duo, the “leniency” shown by chief minister N. Biren Singh and a “clarification” issued by the editors resulted in their release. by noon.  The Editors Guild Of India too had issued a statement seeking their release and withdrawal of the cases that pose a threat to free expression, and to democracy itself.

“Senior journalists approached the chief minister. Both sides explained their positions and concerns and the chief minister ordered their unconditional release. The editors too offered a formal clarification admitting that publishing the article without verifying the source was an oversight on their part and such mistakes will not pass their scrutiny in the future,” a source said.

Imphal West superintendent of police K. Meghachandra Singh told this newspaper that all charges against the duo have been dropped but the investigation against Luwang will continue. “They were released around noon on PR (personal recognizance) bond. The matter was amicably resolved after the intervention of senior journalists and the government,” he said.

Asked whether the police can release persons arrested on charges like sedition and under the UAPA, Singh said: “ We had filed the FIR on our own. It was not reported by anyone. Sometimes prima facie there may be many things but on close examination we find something different. They were detained for 24 hours. Our investigation against Luwang, the author of the article, will continue.”    

According to Singh, the case was registered against the editors and Luwang because the article was alarming. “It has the potential to create unrest, pose a serious threat to rebels who have joined the mainstream, was against the state and had urged the civil society to help, correct and streamline the movement led by the revolutionaries,” Singh said.

Associate editor Kishorechandra Wangkhem is also a part of the portal’s editorial team but was not questioned. He was earlier booked for sedition and was released on bail last month. The web portal was launched last year.

New ‘frontier district’ Noklak inaugurated in Nagaland

 Noklak is located along the international boundary with Myanmar and connects India with other east and south east Asian countries

By Alice Yhoshü

JAN 21, 2021: Nagaland’s political map underwent a major change on Wednesday after chief minister Neiphiu Rio inaugurated Noklak as the state’s 12th district at an official event held at the public ground, Noklak headquarters. The new district was carved out of Tuensang district.

Speaking at the inaugural ceremony, Rio, while conveying his best wishes to the people of Noklak, encouraged them to uphold a competitive spirit and to co-operate with the government for all-round development.

Noklak is located along the international boundary with Myanmar and connects India with other east and south east Asian countries. The chief minister tagged the new district as the “frontier district” and asked the people of Noklak to safeguard and to protect the region.

Meanwhile, vice-president of India M Venkaiah Naidu released a video on Noklak via video conference and extended his best wishes to the new district.

Nagaland’s offbeat experiences


A divine destination

A divine destination

Nagaland is one of India’s most charming states, located in the northeastern part of the country. The state is most reputed for its Hornbill Festival that is celebrated each year, and tourists visit from all over the country. However, the state also has some unique experiences, tastes, and places that are really the most rewarding for a traveller. If you ever want to go offbeat in the northeast of India, head to Nagaland.

​Land of the Headhunters

​Land of the Headhunters

The image of a tattooed headhunter is a world apart from anything we have ever known. Nagaland is home to numerous old tribes, and the Konyak Naga tribe is one such fascinating tribe. The distinct tattoos on the faces of the members of this tribe are earned after they take the enemy's heads. Today, the headhunters certainly do not go on a hunt, but this extraordinary tradition is a gem of Indian culture.

​Natural paradise

​Natural paradise

Nagaland is still a very pristine land, thanks to the state and its people who have kept its best interests at heart. While commercialisation has entered the state, Nagaland is still inherently natural. So the state is full of nature’s bounty, at places such as the Dzukou Valley, or the Shilloi Lake, you will find yourself coming in touch with nature.

​Unique cuisine

​Unique cuisine

Naga cuisine has spread across the country today, earning quite a good reputation. Across New Delhi, there are numerous Naga restaurants serving authentic delicacies. The food of Nagaland includes some unique things such as axone, or fermented soya bean, bamboo shoots, dry fish among others. Pork meat is one of the main foods of the state, which is cooked in various ways. But if you get the chance, you must try the smoked pork of Nagaland.

​Rural tourism

​Rural tourism

Experience the best of rural tourism in Nagaland, especially in a place such as Tuophema village. The place has been developed for tourism. Ethnic homes, museums, and Naga delicacies await you here. You can get a detailed understanding of the Naga culture, and soak in the glories of rural life. You can also attend the Angai Sekrenyi Festival here, which is celebrated each year in the month of February.



Cape Clean - India's Top Facade and Window Cleaning
18 January 2021

Manipur Journalists Detained After UAPA

Recently, Frontier Manipur has been reporting in detail on the sensational drug haul case involving a person said to be close to chief minister N. Biren Singh.

New Delhi: In yet another case of the Bharatiya Janata Party-led Manipur government rounding up journalists in the state under draconian laws, two senior journalists Paojel Chaoba and Dhiren Sadokpam have been detained on Sunday. While Chaoba is the executive editor of The Frontier Manipur, an online news portal, Dhiren is the portal’s editor.

According to a police statement, a case under the Unlawful Atrocities (Prevention) Act (UAPA) and Section 124A (sedition) of the Indian Penal Code has been filed against “the editors of the Facebook page of the news portal” along with M. Joy Luwang, the author of an article published in The Frontier Manipur on January 8.

Chaoba and Dhiren’s detention has come close on the heels of the arrest of another Imphal-based journalist, Kishorechandra Wangkhem, multiple times under several draconian laws, including the National Security Act and sedition. A well-known name in the state’s journalistic circles, Chaoba has a number of investigative stories under his byline at the Imphal Free Press, including about a Manipur police officer going on the record for the first time about carrying out fake encounters on innocent civilians in the insurgency-ridden state. Dhiren is the former editor-in-chief of Imphal Free Press.

Recently, Frontier Manipur has been reporting in detail on the sensational drug haul case involving a person said to be close to chief minister N. Biren Singh. State police officer Thonoujam Brinda had said in a sworn affidavit in the Manipur high court that she was under pressure from the chief minister to release the person from custody.

Even though the person, Lukhosei Zou, was arrested by the state police on finding drugs worth Rs 27 crore from his residence, a special court acquitted him in December. Following his acquittal, Brinda had returned the police gallantry medal accorded to her by the chief minister for her credible work in fighting the drug menace in Manipur.

The FIR filed by the officer commanding P. Sanjoy Singh on January 17, at the Singjamei police station in Imphal West district against The Frontier Manipur publishing the article mentions that it spotted the article with the headline “Revolutionary Journey in a Mess” on January 17, 12:30 pm. Soon the FIR was filed charging Luwang and the editors of the portal for “attempting to bring hatred/contempt/disaffection against government; criminal conspiracy and statements conducting to public mischief with common intention by being Sympathiser of unlawful organization punishable under 124A/120B/505B/34 of the IPC and section 39 of the UAPA Act”.

According to the latest information from Imphal, a police team arrived at Chaoba’s house at Thambeiband leikai of Imphal on January 17 morning and asked him to accompany them, but he refused. Later, when he reached the police station on his own, he was detained. Towards the evening, Dhiren Sadokpam too was summoned for interrogation and detained thereafter.

Advocate Gunadhar Singh, looking into the case, told The Wire, “It is not clear yet whether Chaoba has been arrested or still detained. Dhiren has been summoned for interrogation. Anyway, even if he is arrested, being a Sunday, he will be produced before a magistrate only tomorrow, following which we will submit our bail application in the court.” Around 9 pm, news came that Dhiren too had been detained.

The author of the article has not been detained so far. The police statement said that the author through the article “openly endorsed revolutionary ideologies and activities and expressed shock and dismay at the deteriorating character of the armed revolutionary leaders of Manipur in the recent decade”.

“He called out to the people of Manipur to become true revolutionaries….His article clearly expressed sympathy and support to the ideologies and activities of armed revolutionary groups and outrightly called the rule of law of the union and state governments As colonial law thereby attempting to bring hatred, contempt and feeling of Enmity against the rule of kaw and government which is likely to cause fear ir alarm in public inducing them to commit an offence against the state thereby posing serious threats of internal security issues,” the police continued.

Interestingly, though the same article was published earlier in Imphal Times and Kangla Pao, these news publications have not been named in the FIR. While the article in Kangla Pao was published in Meitelion in October 2020, the same report was published in Imphal Times on January 3.

The Wire tried to contact the Singjamei police station multiple times for more information on the case, but has failed to get in touch so far.

Chaoba’s wife A. Sanahanbi Devi has submitted a letter to the president of the All Manipur Working Journalists’ Union (AMWJU), informing them of his detention and urged it to do the needful. Sources in the AMWJU have said that its executive members would meet on Monday to discuss the issue.

On Monday, the Foundation for Media Professionals issued a statement condemning the journalists’ detention. The statement points out that the Centre has for years been engaged in talks with insurgent groups, and leaders of such groups have often subsequently become minister or prominent politicians. “They were not charged with sedition or terrorism,” the statement reads. “…It is therefore odd that mere publication of an OpEd article on some such groups should draw extreme charges upon editors.”

Also on Monday, the Editor’s Guild of India criticised the Manipur police, the action indicates “no media organisation is safe from the irrational use of these laws”. It demanded the immediate release of the two journalists, adding that the cases pose a threat to free expression and democracy itself.

Note: This article was updated at 4:44 pm on January 18 to include the statement issued by the Editor’s Guild of India.

Mizoram Schools To Reopen For Classes 10, 12 From Jan 22

AIZAWL, JAN 18 : Mizoram will reopen schools for students in Class 10 and 12 from January 22 and places of worship from February onwards, according to new unlock guidelines.

Schools and hostels will reopen from this Friday. The new guidelines require students intending to join hostels to produce a Covid-19 negative certificate obtained within 96 hours of entering the premises.

The guidelines also said churches will be allowed to open with 50 per cent seating capacity or 200 attendees on every Saturday and Sunday at noon from first February.

Churches in Christian majority Mizoram are closed since March 22 last year due to Covid-19 pandemic.

Higher institutions for undergraduate and postgraduate students will be allowed to open from February and training or coaching institutes will also open with either 50 per cent sitting capacity or not more than 50 students from now onwards, the order said.

The maximum number of attendees in funeral and marriage reception has been raised from 35 to 100.

The number of attendees in indoor games, cinema hall, auditorium, community hall and social events (indoor) is fixed at 50.

However, games and sports practices and social events held outdoors will be allowed with 100 attendees.

In any function related to organisation or party, the number of attendees allowed is 100 but deputy commissioners can allow up to 150 attendees by special permission.

All business shops, establishments and commercial activities will function normally under strict Covid-19 protocols.

Any individual, who is returning from other parts of the country, will have to be placed under quarantine at designated facility but those who produce RT-PCR or TreuNat labs negative test certificate, which is not older than four days, will be exempted from the quarantine protocol.

Any state resident, who goes outside and returns to the state within four days, need not go for quarantine.

However, any person returning from Europe will be placed under quarantine at designated facilities and will not be allowed for home quarantine facility.

Night curfew will remain in force in Aizawl and other district headquarters from 8.30 pm to 4.30 am every day till further orders, it added.

13 January 2021

IRFC IPO: First IPO of new year 2021 opens Jan 18

 The company aims to raise Rs 4,633.4 crore at the higher end of the price band.

State-owned Indian Railway Finance Corporation (IRFC) has decided to open its maiden public offer for subscription on January 18 and has set the price band at Rs 25-26 per share.

The three-day public issue will close on January 20. The company aims to raise Rs 4,633.4 crore at the higher end of the price band.

The initial public offering of up to 1,78,20,69,000 equity shares consists of a fresh issue of 1,18,80,46,000 equity shares and an offer for sale of 59,40,23,000 equity shares by the Government of India.

The issue includes a reservation of equity shares worth Rs 50 lakh for subscription by eligible employees. The issue will constitute up to 13.64 percent of the post issue paid-up equity share capital of the company.

The dedicated market borrowing subsidiary of the Indian Railways is going to utilise net fresh issue proceeds for augmenting equity capital base to meet future capital requirements arising out of growth in the business; and general corporate purposes.

The company will not receive any proceeds from the offer for sale and the same will be received by the Government of India.

Bids can be made for a minimum of 575 equity shares and in multiples of 575 shares thereafter.

The primary business of IRFC is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles such as locomotives, coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies of all kinds and other items of rolling stock components as enumerated in the Standard Lease Agreement, leasing of railway infrastructure assets and national projects of the Government of India and lending to other entities under the Ministry of Railways, Government of India (MoR).

IRFC is registered with the Reserve Bank of India as an NBFC and is classified under the category of an 'Infrastructure Finance Company' of the Reserve Bank of India Act.

The book running lead managers to the issue are DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets.

Who will win Burnley vs Man United

Is Pogba Lone Strike Enough to Send Solskjaer’s Men Three Points Clear at Top

Burnley vs Man United: The game was heading for a draw when a Paul Pogba volley ended the stalemate with the visitors surviving a late onslaught to hold onto their slim lead. 


Burnley vs Man United: Pogba Lone Strike Enough to Send Solskjaer's Men Three Points Clear at Top
Anthony Martial (left) and Paul Pogba (Screen Grab)

Manchester United fought hard for a 1-o win over Burnley that sent them three points clear at the top of the Premier League standings on Monday. The game was heading for a draw when a Paul Pogba volley ended the stalemate with the visitors surviving a late onslaught to hold onto their slim lead. 

United needed just a point to move ahead of their rivals and defending champions Liverpool in the standings and for most part of the contest, marred by VAR controversy, it seemed headed for a goalless finish with both teams squandering chances. 

A foul on Edinson Cavani by Robbie Brady just outside the danger zone was overruled after a long review with Luke Shaw instead being booked for a foul on Johann Gudmundsson. Then United were harshly not awarded a goal when Harry Maguire headed home a cross from Shaw for a foul on Erik Pieters. 

However, with 19 minutes left, Marcus Rashford picked out Pogba from the right who then fired home the winner ahead of a crunch clash with Liverpool this weekend. United manager Ole Gunnar Solskjaer later revealed that emptions were running high in the dressing room during the half-time thanks to the VAR controversy.

“You’ve got to calm them down at half-time because emotions are running high because they disagree with the things that happen out there,” Solskjaer told Sky Sports. “So we have to take back control and we played really well in the second half and we held out at the end.”

Solskjaer though refused to comment on the decisions that went against his team. “I’ve not watched any of the decisions so I can’t really say. Might’ve been a foul by Luke apparently so that’s probably the right decision, definitely not a foul for Harry for his goal. If you can’t jump and head it in like this, I don’t believe that’s anywhere near a foul. Delighted with the response after a bit of a tough first half-hour,” he said.

Cape Clean - India's Top Facade and Window Cleaning