In breach of privacy, auto value chain data sold to pvt parties

New Delhi, Jul 23: Riding high on foreign investors buying stakes in Jio Platforms, Reliance Industries Ltd Chairman Mukesh Ambani became the world’s fifth-richest person Wednesday, edging past American investor Warren Buffett on the real-time ranking of billionaires by Forbes. With an estimated wealth of $75 billion, Ambani is only next to Facebook co-founder and CEO Mark Zuckerberg, whose wealth is pegged at $89 billion.

Buffet had slipped down the rankings after donating more than $37 billion of Berkshire Hathaway Inc. stock since 2006 to charity. Berkshire Hathaway’s stock performance has also underwhelmed recently.

Amazon founder and CEO Jeff Bezos still sits at top in the richest list, with a net worth of $185.8 billion. He is followed by Microsoft co-founder Bill Gates with net worth of $113.1 billion and luxury group LVMH Moet Hennessy Louis Vuitton’s chief Bernard Arnault, with a net worth of $112 billion. Facebook CEO Mark Zuckerberg is at the fourth position in the Forbes list.

Shares of Ambani’s conglomerate have more than doubled since a low in March as its digital unit got more than $15 billion in investments from companies including Facebook Inc, Silver Lake, Intel, and most recently, Google. The US tech giant has committed a capital infusion of Rs 33,737 crore for a 7.7 per cent stake on Jio Platforms.

The total investment from financial and strategic investors into Jio Platforms stands at Rs 1,52,056 crore. RIL has raised a total of Rs 2,12,809 crore through a rights issue, the combined investments in Jio Platforms and investment by BP.

During the Reliance AGM last week, Ambani had said RIL has made its net-debt free ahead of a March 2021 target due to recent investments. Ambani said Jio has designed and developed a complete 5G solution that’s ready for launch as soon as spectrum is made available next year.

Jio and Google have also entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store, Ambani said.

RILs market value jumped to Rs 12.7 lakh crore or $170 billion on Monday, making it the 51st most valued company in the world. Between April 1 and July 13, RIL has gained $81 billion in market capitalisation and has climbed 47 places from being the 98th most valued company on April 1 to 51st most value company now.

The share price of RIL has risen by 120 per cent over the last four months for Rs 883 per share on March 23, 2020 to Rs 1,939 on Monday. Since April 22, when Facebook Inc announced an investment of Rs 43,574 crore in Jio Platforms for 9.99 per cent equity stake, Jio Platforms has announced investments by 12 other investors. The total investment by these 13 investors over the last 12-weeks amounted to Rs 118,318 crore.

New Delhi, Feb 12: The Centre on Wednesday said the NRC data in Assam is safe even though some technical issues were visible and that will be resolved soon.

The Union Home Ministry clarification came in view of reports that data of the final list of the National Register of Citizens has been made offline from its official website.

"The NRC data is safe. Some technical issues are in visibility on cloud. These are being resolved soon," a home ministry spokesperson said.

The data was not available for a couple of days and it created panic in the public, mostly among the people excluded from the list as the rejection certificates were yet to be issued.

NRC State Coordinator Hitesh Dev Sarma accepted that the data has been made offline, but refuted the allegation of any "malafide" intent in it.

The cloud service for the huge set of data was provided by IT firm Wipro and their contract was till October 19 last year. However, this was not renewed by the previous coordinator.

So, the data got offline from December 15 after it was suspended by Wipro, Sarma said.

He said the state coordination committee had decided to do necessary formalities in its meeting on January 30 and wrote to the Wipro during the first week of February.

"Once Wipro makes the data live, it will be available for public. We hope people will be able to access it in the next 2-3 days," Sarma said.

The complete detail of exclusion and inclusion of bonafide Indian citizens in the NRC was uploaded on its official website http://www.nrcassam.nic.in after the final list was published on August 31, 2019.

The final NRC was published by excluding 19,06,657 persons. A total of 3,11,21,004 names were included out of 3,30,27,661 applicants.

After the earlier NRC State Coordinator Prateek Hajela relinquished the charge on November 11 following his transfer to home state Madhya Pradesh on a direction from the Supreme Court, Sarma was appointed in his place on November 9.

New Delhi, May 10: Congress leader Rahul Gandhi on Saturday demanded that Prime Minister Narendra Modi ensured audit of donations made to the PM-CARES Fund, and to share the details and the money spent with the people.

"The PM-CARES Fund has received huge contributions from PSUs and major public utilities like the Railways. It's important that the Prime Minister ensure the fund is audited and that the record of money received and spent is available to the public," he tweeted.

The #PmCares fund has received huge contributions from PSUs & major public utilities like the Railways.

It’s important that PM ensures the fund is audited & that the record of money received and spent is available to the public.

— Rahul Gandhi (@RahulGandhi) May 9, 2020
His remarks came amid reports that the central government is accumulating a huge sum of money in the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund set up as a corpus to fight novel coronavirus and that the amount spent will not be audited by the Comptroller and Auditor General.

The CAG office had clarified that since the fund is based on donations, it has no right to audit a charitable organisation.

On Friday, Rahul Gandhi told the media that the PM-CARES Fund should be audited and people of the country should know about the donors and the donations made.