Month: October 2017

  • Indian American Neal Katyal Honored with ‘The American Courage Award 2017’

    Indian American Neal Katyal Honored with ‘The American Courage Award 2017’

    WASHINGTON (TIP): Asian Americans Advancing Justice | AAJC celebrated its 2017 American Courage Awards to recognize and celebrate individuals, groups, and corporations for their commitment and contributions to civil rights, on October 5, 2017. Prominent Supreme Court attorney Neal K. Katyal is among this year’s honorees.

    Neal K. Katyal, former Acting Solicitor General of the United States and is the representing attorney for the state of Hawaii in its challenge to the President’s Muslim ban, received the American Courage Award. The honor is for an individual who has shown extraordinary courage or commitment to civil rights. Neal’s prolific body of work includes defending the constitutionality of the Voting Rights Act and defending the rule of law and due process in Hamdan v. Rumsfeld.

    At the age of 47, Katyal has already argued more Supreme Court cases than any other minority attorney in U.S. history, except for Thurgood Marshall, with whom he is currently tied. Neal is best known for his work as lead counsel for the Guantanamo Bay detainees in the landmark decision Hamdan v. Rumsfeld, and for successfully defending the constitutionality of the Voting Rights Act of 1965. In 2011, Katyal led efforts to issue a confession of error by the Solicitor General’s office, formally acknowledging and apologizing for its role in Korematsu v. United States. Recently, Katyal served as the lead attorney for the state of Hawaii’s challenge to the President’s travel ban. It is clear from his work that he has a personal as well as professional commitment to the advancement of civil rights.

    Katyal was deemed “one of the finest lawyers who has argued before a court,” by Chief Justice John Roberts. In 2011, Neal received the highest award given to a civilian by the U.S. Department of Justice, the Edmund Randolph Award. Neal has also served as a law professor for nearly two decades at Georgetown University Law Center, where he was one of the youngest professors to have received tenure and a chaired professorship in the university’s history. He also fought to overturn the patents held by Myriad Genetics that could help diagnose breast cancer winning a unanimous Supreme Court decision.

  • A Fundraiser for Prevention of Avoidable Blindness

    A Fundraiser for Prevention of Avoidable Blindness

    Community appreciates the humanitarian work of Eye Foundation of America

    EDISON, NJ (TIP): The Eye Foundation of America New Jersey Regional Chapter organized a fundraiser to support the Foundation’s projects at Royal Albert’s Palace here on October 7. Regional Director of the Foundation Chengad Sridhar extended a warm welcome to the guests and spoke about the projects of the Foundation.

    Mr. Sridhar said there were three major projects being undertaken by the Foundation. Cataract, Glaucoma and Retinopathy were the areas the Foundation was working on.

    Speaking on the occasion, the Foundation’s founder and President, eminent ophthalmologist Dr. VK Raju said that the Foundation has been serving the community for the last 39 years. With its work spread over more than 25 countries, including India and the US, the Foundation has treated more than 2,000,000 outpatients. The doctors associated with the Foundation have performed more than 300,000 eye surgeries. Some 25000 surgeries have been performed on children. It is a mammoth task, Dr. Raju said.

    Video presentations about the eye ailments and treatments offered by the Foundation were made and guests encouraged to take the message round that childhood blindness can be and should be avoided.

    The presentation for Cataract was done by Dr Prema Modak who explained in detail causes of Cataract.

    Dr Leela Raju explained about Glaucoma and Retinopathy.

    Family of Dr. Surya Seshan speaking about the legacy of their father who was a great supporter of E F A. Dr. Raju is seen at extreme right.

    The event was followed by Dr Surya Seshan and children speaking about the legacy of their father who was a great supporter of E F A.

    Harini Vasudevan and Suresh Ramachandran entertained the visitors with their melodious singing.

  • Rajasthan Association of North America (RANA) Celebrates Diwali; Honors Four

    Rajasthan Association of North America (RANA) Celebrates Diwali; Honors Four

    MELVILLE, NY (TIP): Rajasthan Association of North America (RANA) celebrated DIWALI on Sunday October 8 at the Huntington Hilton Hotel. The gathering included about 360 prominent guests of Rajasthani descent. The occasion reflected a festive mood and as a part of the celebrations – four people of Rajasthan descent were honored for their accomplishments.

    Padma Bhushan Manjul Bhargava – Renowned mathematician and Professor of
    Mathematics at Princeton University and winner of Field’s Medal with the office bearers of
    RANA. L to R: KK Mehta, Manjul Bhargava, Dr. Anil Gupta, Dr. Ajey Jain

    They included Mrs. Chandra Mehta, Dr Jugal K. Agrawal, Mrs. Sangita Sancheti and Mrs. Sharda Kotahwala.

    The President of RANA Dr. Ajey Jain in his remarks said that the celebrations reflected RANA’s commitment to women’s empowerment. Women these days worry less about fitting into glass slippers and more about shattering glass ceilings.

    The three women honorees exemplified this and have done better than the best. The RANA celebrations also included women’s Karva Chauth Celebrations.

    L to R: Dr N. Hadpawat, Honorable Congressman Tom Suozzi, Dr. Ajey Jain, Dr Ajay Lodha

    Honorable Congressman Tom Suozzi was the Chief Guest and said in his remarks that the oldest and the biggest democracies are joining hands to bring a new and peaceful world order. Padma Bhushan Manjul Bhargava – the world-renowned Mathematician and youngest ever Professor of Mathematics at Princeton University and winner of Field’s Medal in Mathematics (called the Nobel Prize in Mathematics) also graced the occasion.

    Karva Chauth Celebrations

    The evening included a masterpiece performance by Samir and Dipali Music Group from Mumbai, India. The function ended with a multicourse Rajasthani dinner, catered by Mint Restaurant.

  • Diwali at Times Square is now a Festival of New York City

    Diwali at Times Square is now a Festival of New York City

    NEW YORK CITY (TIP): Mayor Bill de Blasio may please take note that the Indian festival of Diwali has now grown beyond a community festival and has become a festival of New York City. The amazing gathering of thousands of people of various hues at the center of universe-the Times Square- on October 7 is a testimony to this fact.

    SANKARA EYE FOUNDATION and EVENGURU INC brought to people a fun-filled day that highlighted cultural dances and musical performances, Diwali Bazaar and mouth-watering Indian cuisine, interactive Diya lighting ceremonies and the world’s best digital fireworks display.

    The vision of the creator of Diwali at Times Square Mrs. Neeta Bhasin was to showcase India’s rich culture, art, heritage and diversity became reality on October 7 th when performances of various local artists like Avish Jain, Rianjali, Masala Bhangra, Bollywood Axion, NYU Garba group, Columbia Raas Garba and the famed Shiamak Davar Group and many other groups performed on. Diwali Festival started
    with the Diya Lighting ceremony on stage and followed by the auspicious Ganesh Vandana by the child prodigy Sparsh Shah. “The Light-Up Times Square Concert” that commenced from 6 PM following the Diya Lighting Ceremony on stage and on the tallest screens of Times Square was attended by the glitterati and the
    dignitaries such as the Consul General of India Mr. Sandeep Chakravorty, Congresswoman Carolyn Maloney, Borough President Gale A. Brewer, Jennifer from Governor Cuomo Office, representative from NYC Comptroller office, District Leader Ms. Neeta Jain and others.

    Diya lighting with countdown on Express screen

    The Light Up Times Square Concert showcased dazzling performances by some of the biggest names in the entertainment industry! Sanjeeda Sheikh and Aamir Ali, the romantic duo that has swept India away with their performances in Nach Balliye, presented scintillating dance routines for the attendees at Times Square. The attendees also enjoyed – Chhammak Chhalo famed, the maverick singer Hamsika Iyer, who made the audience dance to her tune and Hey Baby singer Raman Mahadevan; the crowd was left gasping for more by none other than the master dancer, the “chumeswari” judge and performer Master Terence Lewis. The event was brought to an end by the new-age performer Mickey Singh, who made the young
    crowd sing along.

    Sanjeeda Sheikh & Aamir Ali cast a spell
    Terence Lewis gives a scintillating performance
    A superb Bharatnatyam performance
    Hamsika Iyer was simply captivating
    Raman Mahadevan regaled

    This historic event was brought to us with the support of SANKARA EYE FOUNDATION, a not for profit organization that is committed to eradicate curable blindness from India. An event of this stature could not have been possible without the sponsors like Air India, McDonalds, Yupp TV, DirecTV Now, Hotstar and others. Diwali at Times Square 2017 was also immensely supported by the media at large –
    mainstream media partner Daily News, broadcasting partners TV Asia and Jus Punjabi, radio partner Mera Sangeet and many more.

    SANKARA EYE FOUNDATION and EVENTGURU INC is extremely grateful to the sponsors, the media, the celebrities, the volunteers, and the amazing crowd who came and supported this monumental event and help us create history once again in the heart of New York city, Times Square.

  • “I hope the new generation understands the spiritual nature of the Indian classical music and continues to keep the tradition alive”:  Ustad Amjad Ali Khan

    “I hope the new generation understands the spiritual nature of the Indian classical music and continues to keep the tradition alive”: Ustad Amjad Ali Khan

    NEW YORK CITY (TIP): Veteran musician and Sarod maestro Ustad Amjad Ali Khan expressed hope that the new generation understands the spiritual nature of Indian classical music and will continue to keep the tradition alive. The maestro was addressing the audience in New York on October 5 at an interactive session moderated by India’s Consul General Sandeep Chakravorty, on his new book ‘Master on Masters’, which released in March this year in India.

    ‘Master on Masters’ is a ‘deeply personal book’ about the lives and times of some of the greatest icons of Indian classical music. Having known these stalwarts personally, Maestro recalls anecdotes and details about their individual musical styles, bringing them alive.

    Twelve eminent musicians of the twentieth century appear in the book – Bade Ghulam Ali Khan, Amir Khan, Begum Akhtar, Alla Rakha, Kesarbai Kerkar, Kumar Gandharva, M.S. Subbulakshmi, Bhimsen Joshi, Bismillah Khan, Ravi Shankar, Vilayat Khan and Kishan Maharaj.

    In writing about them, Amjad Ali Khan transcends the Gharana and north-south divide, and presents portraits of these great artists that are drawn with affection, humor and warmth. Through pictures, anecdotes and personal experiences the book provides interesting insights into lives of the stalwarts who contributed to the glory of the Indian classical musical tradition in India.

    Talking about the inspiration behind writing this book, he said, “My father (Haafiz Ali Khan) used to say, always find out quality of other musicians. That is what I have done. We had difference of opinions and fought with each other for our different gharanas. But I had great personal bond with them (the 12 maestros). I miss their presence. This is my humble homage to the greats.”

    Ustad Amjas Ali Khan also spoke about the individual musical styles of the twelve musicians featured in his book. Highlighting the spirituality of Indian classical music, he said, “I hope the new generation understands the spiritual nature of the Indian classical music and continues to keep the tradition alive.”

    His two sons Amaan Ali Bangash and Ayaan Ali Bangash were also present at the event. Ustad Amjad Ali Khan will perform in New York on Saturday, November 4, 2017 at the Carnegie Hall.

  • A Reprieve for Talwars:  Allahabad High Court says the couple did not kill Aarushi

    A Reprieve for Talwars: Allahabad High Court says the couple did not kill Aarushi

    ALLAHABAD (TIP): In a welcome reprieve to Talwars, the Allahabad High Court, on October 12, reversed a CBI court judgment and acquitted dentist couple Rajesh and Nupur Talwar of the charge of murdering their 14-year-old daughter Aarushi and domestic help Hemraj, 45, in May 2008.

    The 263-page verdict ends, at least for now, the nine- year ordeal of the Noida couple, who were sentenced to life by a Ghaziabad CBI court in November 2013 for the double murder that not only transfixed but also shook the nation with its element of filicide. But the central question remains — who killed Aarushi and Hemraj?

    The Division Bench of Justices BK Narayana and AK Mishra read out the operative part of the judgment in a jam-packed courtroom and acquitted the couple, saying neither the circumstances nor the evidence was enough to hold them guilty.

    Ending the Talwars’ nine-year ordeal, the court said the Central Bureau of Investigation had based its case purely on circumstantial evidence that did not quite add up. Finding no direct evidence, the court gave the benefit of doubt to the couple and quashed the CBI court’s sentence of life imprisonment.

    On November 25, 2013, the CBI trial court had held them guilty of the double murder. Since then, the Talwars have been imprisoned in Dasna jail, Ghaziabad. They challenged the CBI verdict in the Allahabad High Court in January 2014. Their repeated pleas for bail were turned down. After daily hearings, the High Court concluded the arguments and reserved its judgment on September 7 this year.

    According to the counsel for the Talwars, the court said there was a “strong alternative theory” in the case. He said the court refuted the CBI theory that there was no third person in the house when the murders took place.

    CBI counsels said they would first study the entire judgment and then decide if the verdict was to be challenged in the Supreme Court or not.

    Dasna prison jailer Dadhiram Maurya said the Talwars felt they had got justice and were praying. “After having breakfast, they had been praying. Their schedule was normal. She (Nupur Talwar) said they got justice today and had tears of joy.”

    Aarushi was found dead inside her room in the Talwars’ Noida residence with her throat slit in May 2008. The suspicion initially fell on 45-year-old Hemraj, who was missing at that time. But his body was recovered from the terrace of the house a day later.

    As the Uttar Pradesh Police drew flak over shoddy investigation into the case, the then Chief Minister Mayawati recommended a probe by the CBI.

    Group Captain BG Chitnis (retd), Nupur Talwar’s father, said, “I am grateful to the judiciary for the verdict. They have really suffered. They are emotionally drained. At my age, it was very trying to see my daughter behind bars.”

    Lawyer Rebecca John, who was part of the Talwars’ legal team, claimed the whole case was based on “innuendos”.

    (Source: PTI)

  • Trump Signs Executive Order to Weaken Obamacare; Says the order is “only the beginning”

    Trump Signs Executive Order to Weaken Obamacare; Says the order is “only the beginning”

    WASHINGTON (TIP): President Donald Trump on Thursday, October 12, used his presidential powers to weaken Obamacare after fellow Republicans in Congress had failed to repeal the 2010 law which he loathed no end and have been itching to do away with.

    Trump signed an executive order aimed at letting small businesses band together across state lines to buy cheaper, less regulated health plans for their employees with fewer benefits.

    It is Trump’s first definitive step to dismantle Obamacare since taking office in January. He had promised during his election campaign that one of his top priorities will be to dismantle former President Barack Obama’s signature domestic policy achievement.

    Trump has come under severe criticism at the hands of Femocratic leaders for having taken to signing an executive order on the issue where Republicans had earlier failed in their repeated attempts to bring down Obamacare.

    Senate Democratic leader Chuck Schumer accused Trump of “using a wrecking ball to single-handedly rip apart our healthcare system.”

    “Having failed to repeal the law in Congress, the president is sabotaging the system”, Schumer said.

    The House of Representatives in May passed Republican legislation to gut Obamacare. But attempts by Senate Republicans to repeal and replace Obamacare failed in July and September, in part because the proposed legislation would have caused millions of Americans to lose healthcare coverage.

    Republicans call Obamacare, which extended health insurance to 20 million people, a government intrusion into Americans’ healthcare, and have been promising for seven years to scrap it.

    Trump’s order weakens Obamacare in part by giving people more access to plans that do not cover essential health benefits such as maternity and newborn care, prescription drugs, and mental health and addiction treatment.

    Obamacare, known formally as the Affordable Care Act, requires most small business and individual health plans to cover those benefits.

    The order also sought to change an Obama-era limit on the time span people can use short-term health insurance plans, which are cheaper but cover few medical benefits. Those plans are currently limited to three months.

    Trump said the order was “only the beginning” and that his administration would take additional actions. He said he would “pressure Congress very strongly to finish the repeal and the replace of Obamacare once and for all.”

    The action could open Mr. Trump to legal challenges from Democratic state attorneys general, who have said they will sue Mr. Trump if he tries to destroy Obamacare.

    California Attorney General Xavier Becerra, a Democrat, said Trump’s executive order is just another step toward imploding the Affordable Care Act. “It should come as no surprise that California is prepared to fight in court to protect affordable healthcare for its people,” Becerra said. “We’re heading in a different direction.”

    Trump has taken a number of other steps since January to weaken or undermine Obamacare. He has not committed to making billions of dollars of payments to insurers guaranteed under Obamacare, prompting many to exit the individual market or hike premiums for 2018.

    The administration also halved the open enrolment period, which begins Nov. 1, and slashed the Obamacare advertising and outreach budget.

  • October 13 New York Print Edition

    October 13 New York Print Edition

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  • Nehra makes comeback; Ashwin, Jadeja ignored for T20s

    Nehra makes comeback; Ashwin, Jadeja ignored for T20s

    NEW DELHI (TIP): Veteran left-arm pacer Ashish Nehra has made a comeback in the 15-member Indian team while selectors once again ignored senior spinners Ravichandran Ashwin and Ravindra Jadeja for the threematch T20 series against Australia, starting October 7.

    The selectors decided to drop Ajinkya Rahane, who struck four back-to-back half centuries, in the just concluded ODI series as his game is not considered to be suitable for the shortest format.

    Shikhar Dhawan made a comeback to the side after missing out on the ODI series due to his wife’s health issues.

    Test specialists Umesh Yadav and Mohammed Shami have also been dropped from the T20 squad.

    Seasoned Dinesh Karthik pipped young Rishabh Pant, primarily due to his current form as well as wealth of experience.

    “The All—India Senior Selection Committee has named the teams for India ‘A’ and Board President’s XI. The India ‘A’ side will play five One—Day games at Vizag against New Zealand ’A’ after the completion of the ongoing four— day game,” a BCCI release said.

    “The Board President’s XI will play two warm—up matches in Mumbai against New Zealand ahead of their ODI series.” The first warm— up game between Board President’s XI and New Zealand will be held on October 17th at Mumbai. The opening match of the ODI series between India and New Zealand starts at Wankhede Stadium in Mumbai on October 22.

    Pant is expected to play for India A in the five match List A series against the New Zealand A.

    Shreyas Iyer will lead the India A team in the first three One—Day games against New Zealand ‘A’ before captaining the Board President’s XI in the two warm—up matches against New Zealand.

    The 38-year-old Nehra’s comeback may have surprised a few but the kind of faith and respect he enjoys in the Indian dressing room is second to none.

    He has so far played 25 T20 Internationals taking 34 wickets in them. “Ashish Nehra played the last full T20 series against England earlier this year. He was in contention to play Champions Trophy but an injury during IPL put paid to his hopes. India’s last two T20s were one off games against West Indies and Sri Lanka, so Ashish wasn’t picked,” a BCCI official privy to selection matters told PTI on conditions of anonymity.

    “Ashish if fit was due for a comeback as and when there would have been a three match T20 series.

    There isn’t anyone craftier than Ashish and when it comes to his selection, it’s about fitness and not form. Check records, Ashish has never been dropped because of poor form,” the official added.

    The other significant development is Ashwin and Jadeja being ignored once again. With Yuzvendra Chahal, Kuldeep Yadav and Axar Patel giving a good account of themselves, it was going to be very difficult for Ashwin and Jadeja to make a comeback.

  • U-17 WORLD CUP:  INDIA’S BABY STEPS BEGIN AGAINST USA

    U-17 WORLD CUP: INDIA’S BABY STEPS BEGIN AGAINST USA

    NEW DELHI (TIP): On the eve of his coaching career’s biggest assignment, India coach Luis Norton de Matos was asked about his last-minute message to his team. The 63- year-old Portuguese coach turned towards India captain Amarjit Singh Kiyam, sitting next to him, and uttered just four words:

    “Enjoy the World Cup.” Matos and Kiyam looked in complete control of their emotions. Their poise, given the magnitude of the occasion, seemed quite

    incredible. After all, it’s the first time India is hosting a FIFA tournament — the Under-17 World Cup — and it’s the first time an Indian team is participating in a football World Cup, never mind the fact that they made the cut by virtue of being the hosts.

    “My advice to the boys is to make sure that they enjoy every moment. It’s a moment they should never forget in their lifetime,” said Matos on the eve of India’s tournament opener against the formidable USA at the JLN Stadium.

    “The team must enjoy every tackle, every pass, the feel of the stadium and the crowd support. My advice would be to come and enjoy playing football. Don’t lose your head thinking too much. We must continue to be organised.

    “At the end of the day, we must be proud of our will to win. The team must execute the beautiful things they learnt during training.

    The boys should treat each game as a story — goals scored and missed, penalties, red and yellow cards. Try to be intelligent and concentrate. If we keep ourselves disciplined, we can dish out a good game tomorrow and beyond,” the coach added.

    Both Matos and Kiyam know India are placed in a tough group alongside the experienced USA, Colombia and Ghana.

    While the USA have been a four-time quarterfinalist and one-time semifinalist, Ghana are undoubtedly the most competitive side, with two crowns and four runners-up finishes. Colombia, too, aren’t far behind, having appeared in six editions of the tournament. The tag of the ‘dark horse’ suits them well.

    On the other hand, this 21-member Indian team came into existence less than three years ago and started globe-trotting for exposure and friendlies only since July 2015. The combined experience of this team is only 109 matches. Teams like Ghana and the USA have been featuring in this age-group competition for decades.

    “These three teams are big. But my job as a coach is to prepare this team well for the games ahead. The players know what they will be facing tomorrow against the USA,” said the coach.

    “But in football anything can happen. You know the strong points of the USA and their little weaknesses. We are going to exploit those weaknesses and fight for those little possibilities to make something happen… to rewrite the history of Indian football. This WC is the first step towards building a strong future for Indian football. This is just the start of the process. I am hoping that tomorrow we can play with 12 players — 11 plus the huge crowd support. We are banking on our fans,” Matos added. USA coach John Hackworth said India were one of the most hard-working teams he had ever seen. “We will be coming into this match with a lot of respect for the Indian team. We know that the Indians are going to challenge us. We will also have to compete against the crowd who would be cheering for the hosts,” he said.

    Top five contenders

    BRAZIL: The South American nation is a three-time champion (1997, 1999 and 2003) and a hot-favourite this time as well. Such has been their dominance that they have missed reaching the final only once. Only Nigeria, with five titles, have been more successful. Brazil qualified for the tournament after winning the 2017 South American U-17 trophy.

    GHANA: Ghana have won the U-17 WC twice, in 1991 and 1995. During the 1990s, they made the final four times. Post their semifinal finish in 2007, Ghana have not been at their best and have qualified only twice in their last seven attempts. Thye qualified for the India WC after reaching the final of the 2017 CAF Africa Cup of Nations.

    SPAIN: Spain have never won the U-17 World Cup, yet they have always been among the favourites. They have been the runners-up on three occasions — 1991, 2003 and 2007. Quite curiously, after finishing third in 2009, they failed to qualify until this edition. They qualified this time by clinching the European title in Croatia earlier this year.

    GERMANY: Like Spain, Germans have also failed to lay their hands on the trophy. They were sent packing by the eventual winners in three of their last four appearances – by Nigeria in 2007, Switzerland in 2009 and Mexico in 2011. They lost to Croatia in the Round of 16 in 2015. They qualified after reaching the semifinals of the 2017 European Championships.

    MEXICO: The two-time champions won in 2005 and 2011, and lost the 2013 final to Nigeria 3-0. in 2015, they made the semis. Mexico qualified by winning the 2017 CONCACAF U- 17 championships.

  • RCom shares drop 7.8% to record low

    RCom shares drop 7.8% to record low

    MUMBAI (TIP): Shares of India’s Reliance Communications tumbled as much as 7.8% in early trade on Tuesday to an all-time low after the company scrapped a proposed merger of its wireless arm with rival Aircel, raising doubts about a debt-reduction plan.

    Shares in RCom were trading at Rs 17.90, down 6.77%, at 0400 GMT, after dropping to a low of Rs 17.70. Indian markets were closed on Monday for a public holiday.

    Reliance Communications said on Sunday it is reassessing debt repayment options after calling off the merger deal, citing regulatory delays and legal uncertainties.

    The company is saddled with net debt of about $6.8 billion. It has earned a temporary reprieve from its banks, who have agreed to a standstill on its debt obligations as part of a planned debt restructuring.

    The reprieve was largely predicated upon RCom reducing debt by Rs 250 billion by merging its wireless unit with Aircel, a subsidiary of Malaysia’s Maxis Communications, and selling a stake in its mobile masts arm to a unit of Canada’s Brookfield Asset Management.

  • RAJNISH KUMAR NEW SBI CHAIRMAN AS ARUNDHATI BHATTACHARYA RETIRES

    RAJNISH KUMAR NEW SBI CHAIRMAN AS ARUNDHATI BHATTACHARYA RETIRES

    NEW DELHI (TIP): Rajnish Kumar, 59, the senior most of the managing directors at State Bank of India (SBI), will become the 25th chairman of the country’s largest lender, succeeding Arundhati Bhattacharya, who is set to retire on 6 October.

    The government on Oct 4 announced his appointment for three years. Kumar currently is in charge of retail banking at SBI.

    Kumar’s appointment comes at a time when SBI’s profitability is under strain because of ballooning bad loans and sluggish credit growth. At the end of June, the bank was weighed down by gross non-performing loans of Rs1.88 trillion. Gross bad loans account for almost one-tenth of its total advances. SBI is also the lead bank in a majority of the 40 cases referred for bankruptcy proceedings at the National Company Law Tribunal (NCLT).

    “Asset quality is a challenge. So that will definitely receive priority,” Kumar told CNBC TV-18 in an interview. “We are undergoing a major transformation in terms of adoption of new technology and digitisation. So these two things are on the top of my mind.”

    Kumar’s predecessor, Bhattacharya, who was the first woman chairperson of the 200-year-old state-owned bank, was instrumental in the merger of SBI’s associate banks and Bharatiya Mahila Bank with SBI. In her tenure, the bank saw the listing of its life insurance subsidiary, the first among public sector banks.

    She also steered the bank through the demonetization process that resulted in a cash crunch, making currency available to customers across its 16,000 branches and automated teller machines (ATMs).

    “NPA recovery especially in the case of big corporate loans and a smooth merger should be Kumar’s priorities. Investors got a shock from the associate banks’s losses,” said Hemindra Hazari, an independent banking analyst. “Secondly, Kumar should be outspoken in defending the autonomy of public sector banks.”

  • EU orders Amazon to pay 250 mn euros in taxes to Luxembourg

    EU orders Amazon to pay 250 mn euros in taxes to Luxembourg

    The EU turned the screw on US tech giants Wednesday, ordering Amazon to repay Luxembourg 250 million euros in back taxes and referring Ireland to the top EU court for failing to collect billions from Apple.

    Europe’s competition chief Margrethe Vestager accused tiny Luxembourg of an illegal deal with internet shopping giant Amazon to pay less tax than other businesses.

    The two cases are part of a wider offensive by the EU on Silicon Valley behemoths as Europe seeks ways to regulate them more tightly on issues ranging from privacy to taxation.

    “Luxembourg gave illegal tax benefits to Amazon. As a result, almost three quarters of Amazon’s profits were not taxed,” Vestager said in a statement.

    The tax demand comes a year after the hard-charging Vestager ordered tech icon Apple to repay 13 billion euros ($14.5 billion) in back-taxes to Ireland in a decision that shocked the world.

    In a sign that it was not letting up, the EU on Wednesday referred Ireland to the EU’s highest court for failing to collect the bill. “The European Commission has decided to refer Ireland to the European Court of Justice for failing to recover from Apple illegal state aid,” the EU’s anti-trust regulator said in a statement.

  • RBI LOWERS GROWTH FORECAST TO 6.7%, HOLDS REPO RATE CITING RISK TO INFLATION

    RBI LOWERS GROWTH FORECAST TO 6.7%, HOLDS REPO RATE CITING RISK TO INFLATION

    NEW DELHI (TIP): Home and auto loan rates are unlikely to change, after the Reserve Bank of India (RBI) left its key policy rate unchanged on Wednesday, citing higher risks to inflation.

    The central bank slashed its growth forecast and raised its inflation forecast. Economists said rate cuts in the near term are unlikely as RBI waits for the growth and inflation situation to evolve.

    On Wednesday, the six-member monetary policy committee left the repurchase (repo) rate – the rate at which RBI lends money to banks against bonds – unchanged at 6%. The decision was not unanimous. Ravindra Dholakia, one of the three external members of the panel, pressed for lowering rates by at least 25 basis points. One basis point is one hundredth of a percentage point.

    India’s economic growth decelerated to 5.7% in the quarter ended June, the slowest pace in three years, as it felt the lingering impact of the November invalidation of high-value banknotes.

    Production cuts and destocking ahead of the 1 July implementation of the Goods and Services Tax (GST) also contributed to the slowdown.

    Consumer price inflation quickened in August to 3.36% from 2.36% a month ago. The RBI cut the repo rate in its August policy by 25 basis points.

    “From the borrowers’ standpoint, there is not going to be any change in the interest rates. Interest rates will largely remain where they are right now,” said Dharma Kirti Joshi, chief economist at rating company Crisil Ltd.

    “RBI is assessing if the slowdown in growth is a temporary or a long-lasting one. If there is more bad news on the growth front and RBI’s inflation estimate is undershot, doors for a rate cut could open up.”

    The central bank cut its growth projections for gross value added, a measure of economic output, to 6.7% from 7.3% for the current financial year.

    It said that the implementation of the goods and services tax has had an adverse impact on economic growth.

     

  • FLIPKART TO INVEST RS 255 CRORE MORE IN PHONEPE

    FLIPKART TO INVEST RS 255 CRORE MORE IN PHONEPE

    BENGALURU (TIP): PhonePe, Flipkart’s payments platform, has received a capital infusion of about Rs 255 crore, as per filings with the Registrar of Companies (RoC).

    The development comes after Flipkart’s closure of the blockbuster funding of $4 billion led by SoftBank. PhonePe has received the funding from Singapore-based Flipkart Payments Pvt Ltd. Prior to this, the company has seen capital infusion of about Rs 186 crore, as per the RoC documents.

    The company confirmed the development. “This capital infusion will be used to grow our business, build our team and scale our marketing efforts. We are growing exponentially right now at nearly 100% every two months. 45% of all UPI transactions in August were driven by us, resulting in a phenomenal 66% growth in volume of transactions over July,” said Sameer Nigam, CEO, PhonePe.

  • Spicejet signs pact with Japanese firm to operate planes on water, land

    Spicejet signs pact with Japanese firm to operate planes on water, land

    The airline will study the commercial viability of using amphibious planes that can take-off and land from short, unimproved strips of land as well as water bodies

    NEW DELHI (TIP): Soon you can land on water or small piece of land. Low-cost carrier Spicejet had signed Memorandum of Understanding (MoU) with Japan’s Setouchi Holdings for 10 and 14-seater amphibious plane operations.

    In the next year, the airline will study the commercial viability of using amphibious planes that can take-off and land from short, unimproved strips of land as well as water bodies.

    If approved by authorities, Spicejet may order over 100 such planes by October 2018. “…the ground reality remains that only about 3% Indians travel by air. Infrastructural challenges have been a key deterrent for providing air connectivity to smaller towns and cities…” Spicejet CMD Ajay Singh said.

    “Spicejet has been a big supporter of the government’s UDAN scheme. With the ability to land in a small or confined space, smaller fixed-wing aircrafts are the perfect flying machines that can effectively connect the country’s remote cities and airstrips which can in turn revolutionise the regional connectivity scheme,” he added.

    These aircraft can land on water bodies, gravel and grass.

    The planes have been demonstrated in flight in Nagpur and Guwahati. Source: HT

  • China opens new highway in Tibet close to Arunachal border

    China opens new highway in Tibet close to Arunachal border

    BEIJING (TIP): China on Oct 2 opened a 409-km new expressway costing about $5.8 billion linking Tibet’s provincial capital Lhasa with Nyingchi, which is close to Arunachal Pradesh border.

    The 409-km toll-free expressway has linked the two major cities which are also tourist attractions in Tibet, state-run Xinhua news agency reported.

    The expressway cuts Lhasa-Nyingchi travel time from eight to five hours at a speed limit of 80 km per hour.

    The construction cost 38 billion yuan ($ 5.8 billion), according to the local government.

    Most of the expressways in Tibet are also compatible for military equipment, providing advantage for the Chinese military to move its troops and weaponry faster.

    The massive infrastructure development in Tibet also prompted India to ramp up infrastructure on its side.

    Heavy trucks are temporarily banned from using the Lhasa- Nyingchi expressway, state-run Xinhua news agency reported.

    The India-China border dispute+ covers the 3,488 kmlong Line of Actual Control (LAC). While China claims Arunachal Pradesh as South Tibet, India asserts that the dispute covers the Aksai Chin area, which was occupied by China during the 1962 war. (TIP)

  • Russian military accuses US of ‘supporting’ IS group

    Russian military accuses US of ‘supporting’ IS group

    MOSCOW (TIP): The Russian defence ministry on Wednesday suggested the United States was supporting Islamic State jihadists, enabling them to mount counteroffensive attacks in eastern Syria.

    “The main thing preventing the final defeat of ISIL in Syria is not the terrorists’ military capability but support and pandering to them by American colleagues,” military spokesman Igor Konashenkov said in a statement, using an alternative term for IS.

    He said recent attacks on Syrian regime forces were all made “from a 50-kilometre zone around At-Tanf on the Syrian- Jordan border” where the US-led coalition is operating a garrison.

    Over the past month Moscow has repeatedly accused the US of hindering the offensive in the east of the country against IS jihadists mounted by Syrian regime forces with the support of Russian airstrikes and special forces on the ground.

    The military said the regime forces “neutralised mobile IS groups on the road from Palmyra to Deir-Ezzor” and freed the captured villages.

    “If the US side views such operations as unforeseen ‘accidents’, Russian aviation in Syria is ready to begin complete eradication of all such ‘accidents’ in the zone they control,” Konashenkov said.

    Russia has been flying a bombing campaign in Syria since 2015, when it stepped in to support the regime of President Bashar al-Assad and tipped the conflict in his favour. (AP)

  • Saudi king, Putin clinch billion-dollar energy, arms deals on landmark Russia visit

    Saudi king, Putin clinch billion-dollar energy, arms deals on landmark Russia visit

    MOSCOW (TIP): Saudi Arabia’s King Salman, on a landmark visit to Russia, and President Vladimir Putin on Thursday signed a slew of arms and energy deals as the key US ally seeks to deepen cooperation with Moscow.

    The leaders of the world’s largest energy exporters discussed an extension of an OPEC agreement to cap oil output and oversaw the signing of deals which officials said were worth billions of dollars. Saudi Arabia signed preliminary agreements to buy Russia’s S-400 air defence systems and anti-tank guided missile systems and receive “cutting edge technologies,” said the Sunni state’s military firm, Saudi Arabian Military Industries.

    The two countries also signed a series of multi-billion dollar investment deals including one to create a USD 1 billion fund to pursue energy projects. “This is the first visit by a Saudi Arabian monarch

    in the history of our relations and that in itself is a landmark event,” Putin said as he welcomed 81-year-old King Salman to Moscow in an ornate gilded Kremlin hall.

    “I’m sure your visit will boost the ties between our countries,” Putin added. “We aim to strengthen our relations in the interests of peace and security, in the interests of developing the world economy,” the Saudi king responded.

    Saudi Foreign Minister Adel al-Jubeir told journalists that “relations between Russia and Saudi Arabia have reached a historic moment.” “Today we alone as the Russian Direct Investment Fund announced deals worth USD 2.1 billion,” said Kirill Dmitriyev, the head of the fund set up to attract investment.

    Foreign Minister Sergei Lavrov said agreements came in the fields of “energy – – not only traditional but also nuclear power — and also in cooperation in space exploration (and) agroindustry and infrastructure projects.” Saudi Arabia is the country that buys the most US arms and Washington and Riyadh in May announced a USD 110 billion deal to sell weapons to Saudi Arabia. (AFP)

  • Divisions over UK PM May’s future burst into open with plot to topple her

    Divisions over UK PM May’s future burst into open with plot to topple her

    LONDON (TIP): Divisions over the future of British Prime Minister Theresa May burst into the open on Oct 6 with allies saying she should carry on and a former Conservative Party chairman claiming the support of 30 lawmakers for a plot to topple her.

    In one of the most bizarre British political speeches in a generation, May’s address on Wednesday to her annual conference was ruined by a comedian handing her a bogus employment termination letter, repeated coughing fits and even by letters falling off the slogans on the set behind her.

    May’s authority was already diminished by her botched bet on a June snap election that lost her party its majority in parliament just days before the opening of formal Brexit talks with the European Union.

    Under the headline: “Theresa May will stay as Prime Minister and get the job done,” Interior Minister Amber Rudd wrote in The Telegraph newspaper that “she should stay”. May’s de facto deputy, Damian Green, also said she would carry on.

    But the former party chairman, Grant Shapps, said May should call a leadership contest.

    “I think she should call a leadership election,” Shapps told BBC Radio 5 live on Friday. He said that after May’s bungled election, her failure to unite the Cabinet and a poor party conference, “the writing is on the wall.”

    Shapps, who chaired the party between 2012 and 2015, said up to 30 Conservative lawmakers backed the bid to informally tell May to go, including five former Cabinet ministers. He said it was unclear if there would be enough support to topple May.

    To trigger a formal leadership challenge, 48 Conservative lawmakers need to write to the chairman of the party’s so-called 1922 Committee. May made no public appearances on Thursday.

    Her survival has so far been dependent on the absence of an obvious successor who could unite the split party around Brexit and fear of an election that many Conservatives think would let opposition Labour leader Jeremy Corbyn into power.

    “I know that she is as determined as ever to get on with the job, she sees it as her duty to do so and she will carry on and she will make a success of this government,” Green, the first secretary of state, told BBC television.

    The Sun, Britain’s most popular newspaper, said that a bid to topple May since the speech had failed after rebel Conservative lawmakers admitted they did not yet have the numbers to oust her.

    A spokesman for the Conservative Party did not respond to requests for comment.

    Many Conservative activists fear another leadership contest will exacerbate the divide in the party over Europe, an issue that helped sink the previous three Conservative prime ministers – David Cameron, John Major and Margaret Thatcher.

    A leadership contest could also pave the way for an election that some Conservatives worry could be won by Corbyn, whom they cast as a Marxist seeking to impose a socialist fantasy on Britain. (Reuters)

  • Iraqi forces capture Hawija from Islamic State

    Iraqi forces capture Hawija from Islamic State

    BAGHDAD (TIP): Iraqi forces have captured the town of Hawija and the surrounding area from Islamic State, the military said in a statement on Oct 6.

    With the capture of Hawija, the militants’ last stronghold in northern Iraq, the only area that remains under control of Islamic State in Iraq is a stretch alongside the western border with Syria. Hawija is close to the oil-city of Kirkuk.The offensive on Hawija was carried out by US backed Iraqi government troops and Iranian-trained and armed Shi’ite paramilitary groups known as Popular Mobilisation. “The army’s 9th armoured division, the Federal Police, the Emergency Response division and Popular Mobilisation liberated Hawija,” said a statement from the joint operations commander, Lieutenant-General Abdul Ameer Rasheed Yarallah.

    Iraq launched an offensive on September 21 to dislodge Islamic State from the area north of Baghdad where up to 78,000 people were estimated to be trapped, according to the United Nations. The militants continue to control the border town of al-Qaim and the region surrounding it.

    They also hold parts of Syrian side of the border, but the area under their control is shrinking as they retreat in the face of two different sets of hostile forces – a US-backed, Kurdish-led coalition and Syrian government troops with foreign Shi’ite militias backed by Iran and Russia. Islamic State’s cross-border “caliphate” effectively collapsed in July, when US-backed Iraqi forces captured Mosul, the group’s de facto capital in Iraq, in a grueling battle which lasted nine months. (Reuters)

  • Tropical Storm Nate blamed for 22 deaths; threatens US coast

    Tropical Storm Nate blamed for 22 deaths; threatens US coast

    MANAGUA, NICARAGUA (TIP): Newly formed Tropical Storm Nate was blamed on Thursday for at least 22 deaths in Central America as it dumped rain across the region on a path that would carry it toward a potential landfall on the US Gulf Coast as a hurricane over the weekend.

    Louisiana officials declared a state of emergency and ordered some people to evacuate coastal areas and barrier islands, and evacuations began at some offshore oil platforms in the Gulf.

    The US National Hurricane Center said the storm could cause dangerous flooding by dumping as much as 15 to 20 inches (38 to 50 centimeters) of rain as it moved over Honduras, with higher accumulations in a few places.

    It had maximum sustained winds of 40 mph (65 kph) by Thursday evening and was likely to strengthen over the northwestern Caribbean Sea Thursday night and Friday before a possible strike on the Cancun region at the tip of Mexico’s Yucatan Peninsula at near hurricane strength. It could hit the US Gulf coast near New Orleans over the weekend at hurricane strength.

    In Nicaragua, Nate’s arrival followed two weeks of near-constant rain that had left the ground saturated and rivers swollen. Authorities placed the whole country on alert and warned of flooding and landslides.

    Nicaragua’s vice president and spokeswoman, Rosario Murillo, said that at least 15 people had died in that country due to the storm. She didn’t give details on all the deaths, but said two women and a man who worked for the Health Ministry were swept away by a flooded canal in the central municipality of Juigalpa.

    The government closed schools nationwide.

    Costa Rica’s Judicial Investigation Organism blamed seven deaths in that country on the storm and said 15 people were missing. Flooding drove 5,000 residents into emergency shelters. (AP)

  • Kazuo Ishiguro wins 2017 Nobel Prize for Literature

    Kazuo Ishiguro wins 2017 Nobel Prize for Literature

    STOCKHOLM (TIP): Kazuo Ishiguro, the British author of “Remains of the Day”, has won the Nobel Prize for  Literature, the Swedish Academy said on Thursday, honouring an “exquisite novelist” a year after giving it to singer-songwriter Bob Dylan.

    Born in Japan and raised in Britain, Ishiguro, 62, won the Man Booker Prize for the 1989 novel that was made into an Oscar-nominated movie starring Anthony Hopkins as a fastidious and repressed butler in postwar Britain.

    “He is an exquisite novelist. I would say if you mix Jane Austen and Franz Kafka you get Ishiguro in a nutshell, Sara Danius, permanent secretary of the Swedish Academy, told Reuters.

    The award of the 9 million crown ($1.1 million) prize marks a return to a more mainstream interpretation of literature after it went to the American troubadour Dylan, a decision that critics said snubbed more deserving writers.

    The Academy hailed Ishiguro’s ability to reveal “the abyss beneath our illusory sense of connection with the world … in novels of great emotional force” that touch on memory, time and self-delusion.

    “What I’m interested in is not the actual fact that my characters have done things they later regret. I’m interested in how they come to terms with it,” told the New York Times after “The Remains of the Day” was published.

    Ishiguro has also waded into politics, calling a rise in hostility towards immigrants after the British voted to leave the European Union as “a fight over the very soul of Britain”.

    Never has there been a better opportunity, at least not since the 1930s, of pushing … xenophobia into neo-Nazi racism,” he wrote in the Financial Times last year, urging “a sharply divided, bewildered, anxious, leaderless nation” to unite around its “essentially decent heart”.

    Ishiguro’s latest novel, “The Buried Giant”, in which an elderly couple go on a road trip through an Arthurian England populated by ogres and dragons, “explores … how memory relates to oblivion, history to the present, and fantasy to reality”, the Academy said. (Reuters)

  • MOVIE REVIEW : BIRTH OF THE DRAGON

    MOVIE REVIEW : BIRTH OF THE DRAGON

    CAST: Philip Ng a, Xia Yu, Billy Magnussen, Qu Jingjing
    DIRECTION: George Nolfi
    GENRE: Drama

    STORY

    A story about the legendary showdown between Bruce Lee and his nemesis, the martial artist Wong Jack Man.

    REVIEW

    Bruce Lee’s life is fascinating. To pack it all in a ninety minute film is a challenge for any filmmaker. That’s why George Nolfi chose to focus on one legendary fight that may or may not have happened in Bruce Lee’s life. Also, the movie is a work of fiction, so don’t expect to see the trivia that you may know about one of the greatest fighters of all time.

    Lee, an arrogant a fight instructor in San Francisco believes that kung fu should be taught to whoever wants to learn it. His adversary is the Shaolin monk Wong Jack Man, who has to leave his country and work in America for some reason. Man believes kung fu should only be taught to Asians, as it’s a cultural heritage which may be hijacked (which eventually happened). Lee’s student Steve (Billy Magnussen) manages to arrange a fight between the two.

    How that showdown turns out is what the movie is all about. What’s evident at the start is that the film doesn’t focus on Bruce Lee as it should. It instead focuses more on Steve’s character as a wandering sixties flower child and his love interest Xiulan (Qu Jingjing) who is being groomed to work at a brothel. Fans of Lee would of course want to see their icon recreated and actually fight. But that is not what makes up the film. Majorly, everything works to make possible the epic showdown between Man and Lee. However, they payback in that scene ends up disappointing you. Also, the film is more about Man trying to tame Lee and how the latter learns things about himself. That knowledge changes Lee for good which is how the ‘Dragon’ we see in films is born.

    Philip Ng as Bruce Lee is well cast. The early swagger and the transformation later are portrayed quite well. Xia Yu as the disgraced Shaolin monk is top form, both acting and fighting wise. One can’t say that he is not a trained fighter like Philip. Billy Magnussen as Steve gets a lot of screen time and plays his part well, although he is the weakest link in the chain because his character is written that way.

  • MONICA BELLUCCI TO STAR IN SCI-FI HORROR ‘NEKROMANCER’

    MONICA BELLUCCI TO STAR IN SCI-FI HORROR ‘NEKROMANCER’

    Monica Bellucci is set to star in sci-fi horror Nekromancer, the latest film from brothers Kiah and Tristan Roache- Turner (Wyrmwood).

    The Italian actress, who has starred in The Passion of the Christ, Spectre and Irréversible, will join Ben O’Toole (Detroit, Horse Soldiers, Hacksaw Ridge) and Tess Haubrich (Alien: Covenant, Bleeding Steel, Wolf Creek) for the film, set to shoot at Fox Studios later this year. Nekromancer, described as a “mix of gore and comedy”, will be directed by Kiah, while Tristan will produce for Guerilla Films with Andrew Mason and Troy Lum for Hopscotch Features.

    The plot of the film has previously been described as following a man who discovers that he is part of a secret sect of magical beings who hunt down and destroy demons in the internet.

    “Monica Bellucci brings her wonderful talents and considerable glamour to our production and we are thrilled to have her on board working alongside this group of exciting up-and-coming actors,” said the producers in a joint statement.

    Mason and Lum described the Roache-Turner brothers as among the most exciting new talents in the genre.