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4-min read

News18 Wrap: RBI’s Contingency Fund Down by Over 15%, India Condemns Pakistan over J&K and 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.


Updated:August 29, 2019, 9:30 PM IST
News18 Wrap: RBI’s Contingency Fund Down by Over 15%, India Condemns Pakistan over J&K and Other Stories You Missed
File photo of RBI logo (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

Fund Down: The Reserve Bank of India's contingency fund, useful in fighting any exigency, has plunged to Rs 1.96 lakh crore as of June 30, after the Rs 52,000 crore excess payout to the government, says the central bank's annual report for FY19. In the annual report, the central bank makes it clear that as of June 30, 2019 it "stands as a central bank with one of the highest levels of financial resilience globally."The RBI board has decided to transfer the excess reserves to government based on the Bimal Jalan committee report on the appropriate economic capital framework. Read more.

Condemning Statement: India on Thursday strongly condemned "highly irresponsible" statements by Pakistani leadership on withdrawal of special status to Jammu and Kashmir. External Affairs Ministry Spokesperson Raveesh Kumar said Pakistan has been using terrorism as state policy against India and it must stop exporting terror. "We strongly condemn highly irresponsible statements by Pakistani leadership on matters internal to India," he said, in what is seen as a direct reference to Pakistan Prime Minister Imran Khan's "The provocative statements from Pakistan include call for jihad and inciting violence in India," Kumar said. Read more.

News18 Investigation: An exclusive investigation carried out by News18 has uncovered the dark side of education institutions where degrees are on sale. A team of undercover reporters approached some agents who claimed they would provide educational degrees without attending classes or appearing for examinations and fake educational certificates from universities recognised by both the UGC and the AICTE. He said the entire process would take 45 days.The Ministry of Human Resource Development on Thursday took cognisance of the media reports and directed the UGC to immediately constitute a high-level committee to inquire into the allegations. Read more.

Chidambaram's Pleas: The Supreme Court Thursday said it will pronounce on September 5 the order on plea of former finance minister P Chidambaram in the INX Media money laundering case lodged by the Enforcement Directorate. A bench of Justices R Banumathi and A S Bopanna also extended interim protection from arrest granted to Chidambaram till next Thursday. The former Union minister offered before the bench to remain in the custody of CBI till Monday. The court refused to comment on it after solicitor general Tushar Mehta said that extension of remand can only be done before the CBI court. Read more.

Unhappy Loyalists: Even though BS Yediyurappa is the chief minister of Karnataka, unlike his previous terms, there is not much activity at his private house in Bengaluru. Only a few party leaders and MLAs are flocking to his house, indicating a subtle change in the balance of power in Karnataka BJP. His own close circles whisper that the chief minister’s hands are tied and he is not in a position to dole out big favours and ministerial berths to anyone. After a 27-day-long “one-man show”, he formed a Cabinet with only 17 ministers and the party's high command in New Delhi wasted no time in imposing three deputy chief ministers on the him complicating the already complex power structure in the state. Read more.

War and Peace: The Bombay High Court on Thursday said it knew that Leo Tolstoy's 'War and Peace' was a literary classic and that it didn't mean to suggest that all the books seized by the Pune Police in the Elgar Parishad-Koregaon Bhima case were incriminating. The observation by Justice Sarang Kotwal came a day after media reports said he asked accused Vernon Gonsalves to explain why he kept "objectionable material" like a copy of "War and Peace" at his home. The purported remarks also stirred up thousands of reactions on Twitter. The hashtag #WarAndPeace has been trending on the social media platform during the day.Read more.

Sex Reassignment: The Tamil Nadu government has banned sex reassignment surgeries for intersex infants and children, in a move which is being seen as progressive. The development comes after Madras High Court’s direction to the department of health family and welfare in April to issue an order ‘enshrining the mandate of the Supreme Court.’ The order, however, mentioned that the reassignment surgeries will be allowed in cases of life-threatening situations, which will be decided after the recommendations of a committee, which will be constituted by the Director of Medical Education. Read more. Read more.

Agree or disagree

When Rahul Gandhi speaks, the world listens. And when he tweets – endorsement or not – the world RTs. Sample his latest viral posts, in what is being viewed as a clarification of sorts following flak from the ruling Bharatiya Janata Party (BJP) after Pakistani leaders used his recent remarks on Kashmir to stoke the issue on the international stage. But why? Why this obsession with Rahul Gandhi? Isn’t he supposed to be just another Congress MP now? Or was the abdication of the party president’s post following a humiliating defeat to the Narendra Modi-led BJP in this year’s Lok Sabha elections just a charade? His mother, Sonia Gandhi, took over the reins of the Congress in what has been conveyed as an “interim” arrangement on August 10 following about two months of uncertainty since Rahul stepping down on May 25. But interim to what? Is the party hoping to resurrect the 49-year-old heir-turned-gerent-turned-heir-again with another relaunch bid at a convenient time: Rahul 6.0, or whatever it may be? Or will sister Priyanka finally take the long-propounded political plunge, after merely testing the waters so far without making a major electoral impact? Read the piece by Pathikrit Sen Gupta to agree or disagree with whether under pressure from media & party colleagues, Rahul Gandhi is haunted by an identity crisis?

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