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News18 Wrap: PMC Bank Customers Protest against RBI's Inaction, India among Worst Performing BRICS Nations & Other Stories You Missed

News18 Wrap brings you some of the biggest stories on News18.com today to help you stay updated at all times.

News18.com

Updated:October 9, 2019, 6:55 PM IST
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News18 Wrap: PMC Bank Customers Protest against RBI's Inaction, India among Worst Performing BRICS Nations & Other Stories You Missed
A person passes by a World Economic Forum logo in Davos, Switzerland, January 20, 2019. REUTERS

News18 Wrap brings you some of the biggest stories on News18.com today to help you stay updated at all times.

In case you missed it

No Bail Only Jail: Customers of crisis-hit PMC Bank took to Mumbai’s streets once again to protest against the alleged inaction by the Reserve Bank of India (RBI) against PMC officials in the latest banking fraud. The protesters, armed with signs such as ‘No Bail, Only Jail’, gathered outside Mumbai's Esplanade Court and accused the RBI while some angry protesters even attacked the vehicles leaving the court premises. Read more.

Ten Ranks Down: India has moved down 10 places to rank 68th on an annual global competitiveness index, largely due to improvements witnessed by several other economies, while Singapore has replaced the US as the world's most competitive economy. India, which was previously ranked 58th in the annual Global Competitiveness Index compiled by Geneva-based World Economic Forum (WEF), is among the worst-performing BRICS nations along with Brazil. Read more.

India-China: In a much anticipated announcement, India and China officially released the dates of the visit of the Chinese President Xi Jinping to Mamallapuram near Chennai in a coordinated manner. Government officials said that PM Modi will not raise the issue of abrogation of Article 370 as it is an internal matter of India and a sovereign decision. However, in case President Xi wants more clarity regarding the same, the matter could be taken up. Read more.

Lending Support: Chinese President Xi Jinping said he is watching the situation in Jammu and Kashmir and will support Pakistan in issues related to its core interests, the official Xinhua news agency reported. Xi also assured Khan that the friendship between China and Pakistan is "unbreakable and rock-solid" despite changes in the international and regional situation. He is ready forge a closer China-Pakistan community of shared future. Read more.

War of Words: Union Home Minister Amit Shah on Wednesday attacked the Congress for its stand on Article 370 and also took on the party over criticism of the 'shastra pooja' performed on the first Rafale aircraft acquired by the country. He said that the Congress has to oppose whatever the BJP does. He was making an apparent reference to the comments made by some Congress leaders on the 'shastra pooja' performed by Defence Minister Rajnath Singh. Read more.

Debt Record Broken: Pakistan's ruling Imran Khan government has broken all previous records in borrowing money merely in the first year of its tenure. According to the official data, during the one-year regime of the present government Rs 7,509 billion (Pakistani currency) increase was recorded in the total debt of the country. A report in the Pakistani media, citing sources, said the State Bank of Pakistan has sent this borrowing data to the Prime Minister's Office. Read more.

Agree or Disagree

If it ain’t broke, don’t fix it. And probably don’t rebuild it, either. Which brings us to the question, why is the central government planning a redevelopment of Delhi’s Central Vista that includes the iconic Parliament House? Why a massive project of this nature in the heart of the national capital? With an economic downturn steadily tightening its grip on the country, will this not put added pressure on the exchequer? Why not make alterations to government buildings as needed? Why raze them to the ground? And, more importantly, why a new parliament? Apparently, this is part of the government’s plan for a makeover of Lutyens’ Delhi. Read the piece by Ravi Shanker Kapoor, who argues that the desire to build a new parliament highlights the fundamental differences between conservatism in the West and in India, one of the most important being the respective attitudes towards the past.

Art of the Day

parliament-house-Illustration

‘We shape our buildings & then our buildings shape us’: Does India really need a new Parliament?

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