Cheat Sheet

  • RBI Willing To 'Consume Poison' To Clean Credit Culture, Says Urjit Patel: 10 Points
    Feeling anger and pain over the recent Rs 13,000 crore alleged Punjab National Bank (PNB) fraud, Reserve Bank of India (RBI) said on Wednesday that it is determined to clean the banking space even if it faces brickbats. Governor Urjit Patel also defended RBI's role in the matter saying that the central bank has "very limited authority" over state-run banks, which are majority-owned by the government. This has, in effect, led to a system of "dual regulation", said Mr Patel, adding that this "fault line is bound to lead to tremors such as the most recent fraud". He was speaking at a university in Gujarat.
  • 5 Ways In Which Gorakhpur Loss Hits BJP Hard
    Gorakhpur, the Uttar Pradesh parliament seat that Yogi Adityanath represented as a BJP lawmaker for two decades before vacating it last year to take over as Chief Minister, has chosen the Samajwadi Party this time. The Samajwadi Party, backed in a rare arrangement by Mayawati's Bahujan Samaj Party, has also won the by-election in Phulpur, the seat vacated by Yogi Adityanath's deputy Keshav Prasad Maurya. The results deliver a body blow to the Uttar Pradesh chief minister, who took upon himself the task of asserting the party's hold in the state it swept in assembly elections last year, fronting the by-election campaign and seeking no reinforcements from the party leadership.
  • Sensex Recovers Most Of Day's Losses, Nifty Closes Above 10,400: 10 Points
    The BSE Sensex closed 21 points lower at 33,835 on Wednesday, recovering most of the day's losses, while the NSE Nifty closed above the 10,400 mark. Banking stocks, which had dragged down the indices earlier during Wednesday's session, rose with the Bank Nifty - the NSE's sub-index for banking stocks - closing 0.5 per cent higher. Oil stocks such as Indian Oil Corporation (IOC) and Oil and Natural Gas Corporation (ONGC) Ltd fell, after global crude prices firmed on strong Chinese factory data, finishing the day 1.5-3 per cent lower.
  • Albert Einstein Birthday: 10 Things To Know About The "Genius Scientist"
    Albert Einstein remains one of the most prominent figures of Modern Physics and an inspiration to many who came after. Born on March 14, 1879, the German-born physicist Albert Einstein developed the first of his groundbreaking theories while working as a clerk in the Swiss patent office in Bern. He migrated from Germany to the United States when the Nazis took power before World War II. He lived and worked in Princeton, New Jersey. His intellectual achievements and originality have made the word "Einstein" synonymous with "genius". In 1946 Einstein visited Lincoln University in Pennsylvania, a historically black college, where he was awarded an honorary degree.
  • 10 Quotes By Stephen Hawking That Will Leave You Inspired
    Stephen Hawking, the British physicist who brought science to a mass audience with the best-selling book "A Brief History of Time," has died. He was 76. He suffered from amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig's disease, and was confined to an electric wheelchair for much of his adult life. Diagnosed at age 21, he was one of the world's longest survivors of ALS. A Cambridge University professor, Mr Hawking redefined cosmology by proposing that black holes emit radiation and later evaporate. While Stephen Hawking has left the world, his words continue to inspire.

  • Iconic Physicist Stephen Hawking Who Redefined Cosmology, Dies At 76
    Renowned physicist Stephen Hawking died at his home in Cambridge in the early hours of Wednesday, he was 76. Family of Professor Hawking, in a statement said, "He was a great scientist and an extraordinary man whose work and legacy will live on for many years. His courage and persistence with his brilliance and humour inspired people across the world." His illness did not stop his scientific pursuits. Professor Hawking's major work revolved around basic laws that govern the universe.He has won 13 honorary degrees.
  • Sensex Falls Over 250 Points, Nifty Below 10,350: 10 Points
    The BSE Sensex fell as much as 276 points on Wednesday to hit an intraday low of 33,580, dragged down by banking and energy stocks. The National Stock Exchange (NSE) benchmark index Nifty lost 90 points to hit an intraday low below the 10,350 mark in afternoon deals. Declines during Wednesday's session were led by banking, energy and FMCG stocks. Weakness was also seen in banking stocks, a day after the Reserve Bank of India (RBI) barred all lenders from issuing letters of undertaking - a form of credit guarantee at the heart of a major fraud. Revelations by Punjab National Bank of additional exposure in an alleged fraud further dampened sentiment.
  • BJP Loses UP, Bihar Bypolls, Yogi Adityanath Blames 'Overconfidence': 10 Points
    Uttar Pradesh chief minister Yogi Adityanath said on Wednesday evening that the BJP - which has lost key by-elections in Gorakhpur and Phulpur, two parliament seats it held - "failed to understand the significance" of a partnership scripted by the Samajwadi Party and Mayawati's Bahujan Samaj Party. It was "overconfidence," the chief minister said, also stating that his party will study why it lost and prepare a new strategy. It is a massive setback for the BJP; the two seats it lost on Wednesday were vacated by Yogi Adityanath and his deputy Keshav Prasad Maurya last year. In by-elections to Bihar's Araria parliament seat, the BJP lost to Lalu Yadav's RJD, which held the seat.
  • Banks Barred From Issuing Credit Guarantees After PNB Fraud: Latest Developments
    In a major clampdown on banks after the Punjab National Bank (PNB)-Nirav Modi case, the Reserve Bank of India (RBI) on Tuesday barred banks from issuing letters of undertaking (LoUs) even as fresh details emerged about possibly the biggest fraud in India's banking history. Besides, the government revealed on Tuesday that alleged fraudster Mr Modi, whose whereabouts are not known, got 1,213 fraudulent guarantees in six years. Separately, the government also asked banks to 'name and shame' wilful defaulters publicly. Meanwhile, the National Stock Exchange (NSE) levied penalties on 24 firms, including on Gitanjali Gems - owned by Mr Modi's uncle Mehul Choksi - for failing to file financial results.
  • Aadhaar Linking Deadline Extended: 5 Developments So Far
    The Supreme Court on Tuesday extended the deadline of March 31 for linking of various services with Aadhaar till it delivers its judgment on its constitutional validity of the biometrical identification scheme, said a report by news agency Indo-Asian News Service. Aadhaar number is a 12-digit random number issued by the UIDAI or Unique Identification Authority of India to the residents of India after satisfying the verification process, mentioned UIDAI on its official website-uidai.gov.in. As of now, the Aadhaar linking deadline for mobile phones and bank accounts has been extended indefinitely.
  • Sensex Closes 61 Points Lower, Nifty Settles At 10,426: 10 Points
    The S&P BSE Sensex fell 61 points to close at 33,856 on Tuesday, dragged down by IT stocks. The 30-scrip BSE benchmark index rose as much as 159 points to hit an intraday high of 34,077 in late morning deals but gave up the day's gains during the afternoon session. The National Stock Exchange (NSE) Nifty settled five points lower at 10,426. The Sensex and Nifty finished on a lower note despite retail inflation hitting a four-month low in February.
  • SBI Announces New Charges For Non-Maintenance Of Minimum Balance. 5 Things To Know
    State Bank of India (SBI) reduced charges for non-maintenance of average monthly balance (AMB) on savings accounts by up to 75 per cent. This move is aimed at benefiting 25 crore customers, India's largest bank, said in an official statement. The charges for non-maintenance of AMB for customers in metro and urban centres have been reduced from a maximum of Rs 50 per month plus goods and services tax (GST), to Rs 15 per month plus GST, added the public sector lender.
  • How 26 Men Seen Attacking Women In Mangaluru Pub Got Away: 10 Points
    Young women ran as they were chased by a mob, slapped, kicked and dragged by their hair. As the terrified women tried to dodge the blows, some stumbled and fell and others were pushed to the ground. Visuals of this hooliganism at a pub in Mangaluru disgusted the nation and led to calls for toughest punishment. But nine years on, all 25 accused, and their controversial chief Pramod Muthalik, have been freed by a court in Bengaluru that said on Monday that there wasn't enough evidence of their crime at the pub, ironically named Amnesia - The Lounge.
  • Retail Inflation Eases To 4-Month Low; Industrial Output Soars To 7.5%
    Retail inflation for the month of February cooled off to a four-month low of 4.4 per cent as compared to 5.07 per cent in January 2018, provisional government data showed on Monday. Besides, factory output for the month of January 2018 soared to 7.5 per cent as compared to 3.5 per cent in the corresponding month of 2017, showed data released by the Ministry of Statistics and Program Implementation. While cheaper food articles and lower cost for fuel pushed consumer inflation lower, industrial output spurted due to a good show by manufacturing coupled with higher offtake of consumer and capital goods.
  • Maharashtra Farmers Call Off Protest As State Agrees To Demands: 10 Points
    The Devendra Fadnavis government of Maharashtra has agreed to the demands of thousands of protesting farmers who have been pouring into Mumbai for the last two days. The government has given its acceptance in writing, said state minister Chandrakant Patil, after a delegation of farmers met government representatives this afternoon. Mr Fadnavis said the Chief Secretary will do the follow-up. Nearly 50,000 farmers, demanding loan waiver and updated minimum support price, assembled in Mumbai after a grueling 180-km, six-day march from Nashik, with plans to gherao the assembly. The protest was called off after the government's acceptance.

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