March 2020

PSU banks’ merger to come into effect from April 1, says Nirmala Sitharaman The merger of 10 public sector banks (PSBs) into four will come into effect from April 1, 2020, Finance Minister Nirmala Sitharaman said on Wednesday. “The Union Cabinet has given its go-ahead for the merger proposal and the government has been in regular touch with these banks,” Sitharaman told reporters here. There will be no regulatory issues, she added. “The banks’ merger is on course and decisions have already been taken by the respective bank boards,” the minister said. Source: CNBC

‘I am still proud of the car’: Ratan Tata on Tata Nano, life after retirement and a piece of advice Noted Industrialist and the chairman emeritus of Tata Group, Ratan Tata, has now revealed how he got the idea for the Tata Nano, how he is enjoying life after retirement and why he never got married. Tata made the revelation while speaking to ‘Humans of Bombay’ in the final part of the three-part series. In the previous part, Tata spoke about the time he spent in Los Angeles, his grandmother and the ragging he and his brother faced after their...

‘Escalation doesn’t always lead to war’: Army chief on Balakot strikes Army chief General MM Naravane has said that India’s strike at terror launchpad across the border in Balakot showed that if one is skilful, escalation does not always lead to war. General Naravane was speaking at a seminar on land warfare on Tuesday. He also said that rise of non-state actors like terrorists demands that victory in war is formulated in a nuanced manner. The Indian Air Force Mirage-2000s struck a Jaish-e-Mohammed (JeM) camp in Balakot on February 26, 2019, in response to the Pulwama suicide bombing attack in...

Apple co-founder Wozniak tweets he might be ‘patient zero’ for coronavirus in US Apple co-founder Steve Wozniak has claimed that he and his wife Janet maybe “patient zero” for novel coronavirus in US. The tech entrepreneur revealed that after returning from China in January, Janet has been suffering from a “bad cough”. “Checking out Janet’s bad cough. Started Jan. 4. We had just returned from China and may have both been patient zero in U.S. (@ West Coast Sports Institute in Santa Clara, CA),” Wozniak tweeted. However, the tweet didn’t seem to hold any ground as USA Today reported that the tech...

‘Rahul Gandhi has returned from Italy, he too must get checked for coronavirus’ New Delhi: Bharatiya Janata Party leader Ramesh Bidhuri on Wednesday said that Rahul Gandhi should also undergo the due process of coronavirus quarantine and sample checking as the Congress leader returned from Italy recently. Notably, over 2,500 people have been reported to be infected with the novel coronavirus in Italy – the most in any country in Europe. Speaking outside Parliament, the BJP MP from Delhi said: “Rahul Gandhi recently came from Italy. I don’t know if he was checked at the airport. He should also go through...

Elon Musk voices support for Twitter CEO Jack Dorsey amid reports of his removal from the position Tesla CEO Elon Musk extended his support to Twitter CEO Jack Dorsey, in light of media reports suggesting plans for his removal by the company’s latest activist investors. “Just want say that I support @Jack as Twitter CEO. He has a good (heart),” the billionaire had tweeted from his official account on Tuesday. Elliott Management Corp, a US-based hedge fund with an activist approach had amassed a major stake in Twitter Inc, Reuters reported on Friday. The stake is in the 4-5 per cent range,...

Bernie Sanders wins Democratic primary in California WASHINGTON: Bernie Sanders has won California’s Democratic presidential primary. The state has 415 delegates at stake, the biggest haul on the electoral map. Sanders’ campaign has long seen the nation’s most populous state as a critical early contest and has had droves of volunteers organizing events across the state. Sanders lost the 2016 Democratic presidential primary to Hillary Clinton and was hoping for a comeback that would be a capstone moment for the state’s progressive wing. Source: Times of India

Coronavirus to be treated as an emergency, task force in place: Arvind Kejriwal Delhi Chief Minister Arvind Kejriwal on Wednesday addressed the media over coronavirus outbreak and said that the administration is concerned about the situation. “There is no need to panic,” he said. The chief minister stated that a task force has been formed under his leadership which will include all concerned stakeholders. “Have asked task force members to deal with coronavirus situation as an emergency,” he said. The Aam Aadmi Party chief also said that a coronavirus testing lab will be set up at Lady Hardinge Hospital in...

Fund backed by Uday Kotak bets on a stressed asset An asset manager backed by Asia’s richest banker has finally invested in a stressed Indian asset, in a positive sign for the broader push to clean up the nation’s massive pile of bad debt. Kotak Special Situations Fund invested ₹500 crore ($69 million) in beleaguered Jindal Stainless Ltd., India’s largest stainless steel producer, according to a statement. The fund is backed by billionaire banker Uday Kotak. India’s efforts to clean up bad loans have caught the eye of global investors, but many money managers have held back due to difficulties agreeing on...

Amit Shah says India well prepared to contain coronavirus; will not play Holi this year Home Minister Amit Shah said on Wednesday the country was well prepared to contain the spread of COVID-19 Novel Coronavirus and that he would not participate in ‘Holi Milan’ function in the wake of the reports of outbreak of the virus in different places. Shah also appealed to everyone to take all important measures to check the spread of coronavirus. “Holi is a very important festival for we Indians but in the wake of Coronavirus, I have decided not to participate in any Holi Milan...