The World Opinion

Category: Economy

  • Kia Carens Facelift Spotted Testing In India Ahead Of 2024 Launch | Auto News

    The upcoming facelift of the Kia Carens has been seen undergoing testing in various locations across India. According to the reports, the vehicle was spotted in Sissu recently, indicating that Kia is conducting high-altitude performance tests. The refreshed model is expected to hit Indian showrooms before the end of 2024.

    Exterior Design Updates

    Reports say that the 2024 Kia Carens facelift will introduce several significant changes to its exterior design. The front end will feature new LED headlamps inspired by the design language of the recently unveiled EV3. Along the sides, the facelifted Carens will sport a new set of alloy wheels. The rear will also see updates with revised LED tail lamps. Both the front and rear bumpers are expected to be redesigned, providing the MPV with a modern and refreshed appearance.

    Interior Enhancements

    While specific details about the interior updates of the 2024 Kia Carens facelift remain undisclosed, it is anticipated that the vehicle will retain the current model’s six- and seven-seat configurations. The facelift is expected to bring updates to its features list and introduce new fabrics and materials for the dashboard and upholstery. 

     Engine Specifications

    The engine lineup for the Carens facelift is likely to feature a 1.5-litre petrol engine delivering 113 bhp, a 1.5-litre turbo-petrol engine producing 158 bhp, and a 1.5-litre diesel engine with an output of 113 bhp. The turbo-petrol variant will offer a choice between a 6-speed iMT and a 7-speed dual-clutch automatic gearbox. The diesel version will come with three transmission options: a manual, an iMT, and a 6-speed torque converter automatic.

  • Reserve Bank Of India Cancels Licence Of City Co-operative Bank | Personal Finance News

    New Delhi: The Reserve Bank of India (RBI) has cancelled the licence of “The City Co-operative Bank Ltd., Mumbai, Maharashtra.” 

    RBI in a release said, consequently, the bank ceases to carry on banking business, with effect from the close of business on June 19, 2024. The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

    The Reserve Bank cancelled the licence of the bank due to the following reasons

    – The bank does not have adequate capital and earning prospects. As such, it does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.

    – The bank has failed to comply with the requirements of Sections 22(3) (a), 22(3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;

    – The continuance of the bank is prejudicial to the interests of its depositors;

    – The bank with its present financial position would be unable to pay its present depositors in full; and

    Public interest would be adversely affected if the bank is allowed to carry on its banking business any further, added RBI.

    Consequent to the cancellation of its licence, “The City Co-operative Bank Ltd., Mumbai, Maharashtra.” is prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits as defined in Section 5 (b) read with Section 56 of the Banking Regulation Act, 1949 with immediate effect.

    Deposit Insurance and Credit Guarantee Corporation 

    On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5,00,000/- (Rupees five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of DICGC Act, 1961. As per the data submitted by the bank, about 87% of the depositors are entitled to receive full amount of their deposits from DICGC. As on June 14, 2024, DICGC has already paid ₹230.99 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act, 1961 based on the willingness received from the concerned depositors of the bank.

  • Stocks In Spotlight 20 June 2024: Five Stocks To Track Today | Markets News

    New Delhi: Markets ended on a flat note on Wednesday. The BSE Sensex zoomed 36.45 points or 0.05 percent to closing at a new peak of 77,337.59 while the NSE Nifty closed 41.90 points or 0.18 percent lower at 23,516.

    Neeraj Sharma, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates Ltd commented, “Domestic benchmark index Nifty50 touched new highs for the fifth consecutive day on Wednesday, boosted by banking, IT sectors and favourable global cues. Finally, Nifty lost all gains and ended the day on a negative note at 23,516 levels. Technically, on a daily basis, the index sustained above the breakout of last week’s consolidation range of 23,000 to 23,500 levels, indicating strength. According to this latest breakout, the index may test 23,800-24,000 levels in the near future. Thus, a buy-on-dips strategy should be used in the Nifty, with support at 23,330.”

    Meanwhile, ahead of the market opening today, as per Zeebiz, Sun Pharma, Coal India, Raymond and Larsen & Toubro are a couple of stocks that will likely be in focus today.


    1. Sun Pharma

    Sun Pharma’s Dadra Facility Receives Warning Letter From US FDA. In a regulatory filing Sun Pharma has informed that  The Warning Letter summarizes violations with respect to Current Good Manufacturing Practice (cGMP) regulations. The contents of the Warning Letter shall be made public by the USFDA in due course, it added.

    2. Larsen & Toubro

    L&T shares are turning ex-dividend today (June 20). Earlier, the firm announced that the Board of Directors of the Company has recommended a final dividend of Rs 28 per share for FY 2023-24, in addition to the special dividend of Rs 6 per share paid during the year, thus making the total dividend Rs 34 per share.

    3. Coal India Limited 

    CIL had yesterday informed the regulators that in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector. The cumulative peak rated capacity of is 34.14 million tonnes/year (MT/Y) while the total extractable reserves are estimated at 635 MT. 

    4. Infra stocks

    State-owned NHAI is looking to offer 15 road projects worth Rs 44,000 crore covering 937 km during the current financial year under the Build-Operate-Transfer (BOT) mode, news agency PTI has reported.

    5. Indian Oil 

    Indian Oil and GPS Renewables Pvt. Ltd have announced to form Joint Venture for Sustainable Energy Solutions. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country, IOC said in a regulatory filing.

  • SHOCKING! Woman Finds ‘Dead Mouse’ In Hershey’s Chocolate Syrup; Company Responds | Companies News

    New Delhi: In a shocking event, a woman made a disturbing discovery when she found what appeared to be a ‘dead mouse’ in a bottle of Hershey’s chocolate syrup. Prami Sridhar recorded a video of the incident. The company has responded to her post, sparking widespread attention and concern.

    Prami described her “shocking discovery” in a Zepto order and urged everyone to be cautious. In her Instagram post, she wrote “shocking discovery in my Zepto order. This is for your kind notice to everyone to open your eyes.” Prami then opened the “sealed cap” and poured the syrup into a cup and discovered a dead mouse. A family member washed the object to confirm that it was indeed a dead mouse which left them both shocked.


    “We ordered Hershey’s chocolate syrup from Zepto to eat with brownie cakes. We started with pouring with cakes, caught small hair continuously, decided to open. The opening was sealed and intact. We opened and poured in disposable glass, a thick and hard consistency of dead rat dropped down. By washing in running water for reconfirmation, it’s a dead rat (sic.),” Prami wrote in her post.

    A few days ago, a similar incident occurred when Mumbai doctor Orlem Brandon Serrao’s casual Tuesday treat turned into a nightmare. He discovered a human finger in his ice cream cone, which he had ordered online from Yummo Ice Creams.

    Hershey’s and Hershey’s India both responded to the post.



     


    The video has garnered over 68,000 views, and here’s how users reacted:

    One user wrote, “Since the past few days, I am just horrified seeing so many unhygienic practices that I have stopped using so many packaged products and started eating only healthy and non packaged products. I hope in future I can completely stop it. Our older generation lived a healthy life just because of it. Thank you for sharing.”

    Another user wrote, “New fear unblocked.”

    A third user said, “Make complaint to food safety department.”

    “It’s the manufacturer’s problem. If the product came with its seal closed, Zepto is not responsible for this,” wrote a fourth user.

    “You can sue them (Hershey) for this and report to food safety,” said a fifth user.

  • ‘Step Off The Board’: Gautam Singhania’s Reappointment As Raymond Managing Director Faces Strong Opposition | Companies News

    New Delhi: Institutional Investor Advisory Services (IiAS) has urged Raymond Shareholders to vote against the reappointment of Gautam Singhania as Chairman and Managing Director at the upcoming Annual General Meeting (AGM). The upcoming Annual General Meeting (AGM) is to be held on June 27. The proxy advisory firm has also called for the removal of both Gautam Singhania and his estranged wife, Nawaz Modi from their positions.

    IiAS stated, “Until the divorce issues are settled and an independent investigation is completed, we expect both Gautam Singhania and Nawaz Modi to step off the board.” After all these accusations, Raymond’s board still decided to propose the reappointment of Gautam Singhania for another five-year term. (Also Read: Nvidia Surpasses Microsoft, Apple To Become World’s Most Valuable Publicly Traded Company)

    Institutional Investor Advisory Services) has highlighted that no updates have been provided since December 2023 on any independent investigation into the allegations. Meanwhile, IiAS is urging shareholders to safeguard the company from internal disputes among promoters. (Also Read: Ixigo CEO Shares Then Vs Now Pic –From A Humble One-Room Office To Stock Market Listing)

    Further, IiAS also raised concerns about Gautam Singhania’s proposed remuneration. They called it excessive for the size of the business and not aligned with industry standards. The proposed structure, effective from July 2024 to June 2027 could see Singhania’s pay exceed regulatory limits to around Rs 35 crore over 5 per cent of the profit for FY24.

  • This Company Launches ‘Dhoni Edition’ SUV; Just 100 Units To Be Made; Check Details | Auto News

    Citroen C3 Aircross Dhoni Edition: Citroen India announces the launch of a special edition of its popular SUV, the C3 Aircross, named ‘Dhoni Edition’. This exclusive edition is limited to only 100 units, each crafted to reflect Dhoni’s iconic style and charisma.

    The ‘Dhoni Edition’ C3 Aircross embody Citroen’s brand philosophy and commemorates India’s passion for cricket offering a unique and attractive option for consumers. It features a range of custom accessories and design elements, making it exclusive for cricket enthusiasts and automotive aficionados alike. 

    It will come equipped with Dhoni decal, color coordinated seat covers as well as cushion pillow, seat belt cushion, illuminated sill plates and front dashcam. Additionally, every ‘Dhoni Edition’ C3 Aircross will include a special Dhoni goodie in the glove box. 

    To exhilarate cricket aficionados, one of these 100 cars will contain an exclusive, signed glove by Dhoni himself, adding an element of surprise and excitement for the buyers.

    Citroen India Statement
    Commenting on the launch, Shishir Mishra, Brand Director, Citroen India, said, “We are thrilled to unveil the exclusive ‘Dhoni Edition’ of the C3 Aircross, available in a limited run of only 100 units. This rare, limited edition is a unique tribute to Dhoni’s legendary journey.” 

    Price And Booking
    The bookings for the ‘Dhoni Edition’ C3 Aircross are open and can be booked at Citroën dealerships across India with range starting from INR 11.82 lakhs onwards. Moreover, the standard C3 Aircross range starts at 8.99 lakhs onwards.

    Powertrain
    No changes have been made to the powertrain. It comes equipped with a 1.2-litre turbo-petrol engine, generating 110PS/up to 205 Nm, mated to either a 6-speed MT or a 6-speed torque converter.

  • People With Unconfirmed Train Tickets To Be Deboarded Forcefully By RPF? Congress Slams Indian Railways Minister | Railways News

    Lately, social media has been flooded with videos of people travelling in overcrowded sleepers and 3rd AC coaches. Those who are acquainted with train travel in India know that while people with waitlisted or general tickets are allowed to travel in sleeper classes, their entry was not allowed in the 3rd AC. However, now even 2nd AC premium seats are not spared and waitlisted people are seen travelling in the coach. The situation has become so grim that those with confirmed seats faced difficulty in getting or using their berths. People who faced difficulty despite paying for 3rd or 2nd AC raised the issue on social media. The condition is worse in sleeper and general classes where people are seen travelling stuffed in toilets and walking bays, leaving no space for any movement. In 2016, then Railways minister Suresh Prabhu had dreamt of ensuring confirmed tickets to every passenger by 2020. Four years later from the said deadline, even those with confirmed tickets are struggling to get their berths in 2024. 

    Indian PM (1/3)
    Narendra Modi failed in
    One Nation One Election

    but

    Indian Railway Minister
    Ashwini Vaishnav succeeded in
    One Train One Compartment

    Now

    1st AC, 2nd AC, 3rd AC, General, Inside of Train, Outside of Train,
    All feels the same. pic.twitter.com/QrTMgXYAqd


    — Schrodinger Ka Billa (@EducatedBilla) June 12, 2024

    When the issue was brought to the notice of Railways Minister Ashwini Vaishnaw, he directed the authorities to take suitable steps to curb the entry of passengers with unconfirmed tickets in reserved coaches. The Zonal railways were directed to launch drives involving the Railway Protection Force and the Government Railway Police Force to ensure only passengers with confirmed tickets travelled in the reserved coaches. While the Indian Railways runs multiple special and clone trains to mitigate seasonal rush, the overcrowding of trains has become a new normal due to multiple reasons. 

    Sir Train No. 15120 from dehradun to Banaras. Coach no M1 (3rd AC)
    This is the condition of third AC what will be the condition in sleeper coach can you imagine? Please take action on this with immediate effect. Feeling no use of taking reservation tkt. @RailMinIndia @NWRailways pic.twitter.com/19WEWBtkCZ
    — Rajat Dadhich (@rajatsharmararo) June 14, 2024

    However, this did not go well with the Congress party. “These unreserved people who enter the reserved compartment do not travel by in the toilet on their own will. The government has converted sleeper and second-class coaches into AC coaches. People do not have enough money to travel in AC. Along with this, the number of passenger trains has also been reduced. Don’t use force on people and instead correct your mistake,” said Congress to Vaishnaw.

    ये कोई 3rd या 2nd AC नही है ये first एसी कोच है पूर्वा एक्सप्रेस का, (जनरल व sleeper में waiting) वालो ने इसे भी नही छोड़ा जो फर्स्ट ac का पैसा देकर यात्रा कर रहे है कैसे आयेगे जायेगे आप ही बताए??
    जनरल व स्लीपर के डिब्बे में जो 50% कटौती की गई है, उसका असर हर क्लास के यात्रियों… pic.twitter.com/Zm2qdn9QNx
    — M.M. Dhera(Attorney at Law) (@AdvocateDhera) May 30, 2024

    Congress president Mallikarjun Kharge also posed serious questions to the Railways and the government. “Why has travelling by train in the normal Sleeper Class become very expensive? Why has the number of Sleeper Coaches been reduced? Last year 2.7 crore people had to cancel their tickets due to acute shortage of seats – a direct result of the Modi government’s policy of reducing the number of coaches,” said Kharge.

    जब भी कोई रेल हादसा होता है, मौजूदा रेल मंत्री जी कैमरों से लैस घटनास्थल पर पहुँच कर ऐसा व्यवहार करते हैं जैसे सब कुछ ठीक हो गया हो। @narendramodi जी, बताइये किसकी जवाबदेही तय होनी चाहिए, रेल मंत्री की या आपकी?

    हमारे 7 प्रश्न हैं – जिनका जवाब मोदी सरकार को देना पड़ेगा !…
    — Mallikarjun Kharge (@kharge) June 18, 2024

    Railways Minister Ashwini Vaishnaw shared that the number of trains needs to increase by 3,000 every day to accommodate waitlisted passengers. However, that would be possible only by 2032 when the railways would be able to upgrade their infrastructure and put extra lines on their map. 

    So till then, if you are travelling on a train with an unconfirmed ticket, then you might get deboarded by the security officials. 

  • Annurag Batra Elected As Member Of International Academy Of Television Arts & Sciences | Companies News

    New Delhi: Annurag Batra, Founder exchange4media and Chairman BW Businessworld has been elected as a Member of the International Academy of Television Arts & Sciences, joining a group of over 900 members from over 60 countries, representing the world’s leading television and media companies. 

    Batra has also served as a  Member of the Board of Governors of the prestigious Management Development Institute, Gurgaon –his own Alma Matter and he is the first PGPM (MDI s flagship program )  graduate from MDI Gurgaon to be on its Board of Governors for last 3 years and half years from 12th Jan 2020 to June 2023, said Batra’s office.

    Batra is also the angel investor for many futuristic media tech startups which are impacting the Indian digital media and media tech, it added.

  • Nirmala Sitharaman To Hold Pre-Budget Meeting With Industry Leaders On June 20 | Markets News

    New Delhi: As part of pre-budget consultations, Finance Minister Nirmala Sitharaman is scheduled to meet representatives from industry associations on June 20 evening.

    The meeting, slated to take place between 4 and 6 pm at North Block, will see industry associations such as the Federation of Indian Chambers of Commerce & Industry (FICCI), Confederation of Indian Industry (CII), Associated Chambers of Commerce and Industry of India (Assocham), and PHD Chamber of Commerce and Industry presenting their budget suggestions and recommendations.

    This meeting is part of the government’s annual pre-budget consultations aimed at garnering feedback and suggestions from key stakeholders to shape the upcoming Union Budget.

    The budget is anticipated to be tabled in Parliament in the third week of July.

    Ahead of their meeting with the Finance Minister, industry associations will meet Revenue Secretary Sanjay Malhotra on June 18. The discussions are expected to cover a broad range of topics, including tax reforms, incentives for various industries, measures to boost economic growth, and policies to support small and medium enterprises (SMEs).

    This will be the Modi government’s first budget after it assumed office for the third successive term. Nirmala Sitharman had presented an interim budget on February 1 ahead of the Lok Sabha polls. She has so far presented six budgets in a row and will create a record when she presents the full-fledged budget for the new term of the BJP-led National Democratic Alliance government. 

  • Another Drink And Drive Disaster; Engineering Student Rams Car Into Footpath Dwellers; 2 Dead, 7 Injured | Mobility News

    Two women were crushed to death on Monday after a car allegedly driven by a drunk engineering student in Dighori area of Nagpur ploughed into a group of people sleeping on a footpath, a police official said.
    Seven persons, including four children, were injured in the accident that took place at 12:40am, the Wathoda police station official added. “The victims are part of a family that sells toys and lives on the footpath. The Hyundai Verna driver Bhushan Lanjewar, along with five other occupants, all of whom were inebriated, fled the scene. Lanjewar was held later on the basis of CCTV footage,” the official said. The official identified the deceased as Kantibai Gajod Bagdiya (42) and Sitaram Babulal Bagdiya (30), while the injured include Kavita Sitaram Bagdiya (28), Balku Sitaram Bagdiya (8), Hasina Sitaram Bagdiya (3), Sakina Sitaram Bagdiya (2), Hanuman Khajod Bagdiya (35) and Vikram Bhusha Hanuman Bagdiya (10). “The injured have been admitted in Government Medical College & Hospital. As per kin Rajendra Babulal Bagdiya (34), who escaped unharmed, the family had come to Nagpur eight months ago and were asleep on the footpath after dinner. He has told police the vehicle first hit them and inflicted more injuries when the driver reversed it,” the official added. Lanjewar has been charged under sections of the Indian Penal Code and Motor Vehicles Act, the Wathoda police station official said.