Making India $5 trillion economy challenging but achievable: PM Modi

Mumbai, Mar 13:  Investor wealth worth nearly Rs 12 lakh crore was wiped out in less than 15 minutes of trading on the stock exchanges on Friday, with the two benchmarks, the BSE Sensex and the NSE Nifty, crashing over 10 per cent.

The 30-share BSE Sensex plummeted 3,380.59 points, or 10.31 per cent, to 29,397.55. It hit an intra-day low of 29,388.97, falling up to 3,389.17 points.

Trading was halted for 45 minutes in the early session after the index hit its lower circuit limit.

The BSE and NSE benchmark indices, however, pared most losses with the Sensex trading 835.40 points, or 2.55 per cent, lower at 31,942.74, and the Nifty was down 253.25 points or 2.64 per cent at 9,336.90 at 10.40 am.

The mayhem on Dalal Street eroded investor wealth worth Rs 12,92,479.88 crore, taking the total m-cap to Rs 1,12,78,172.75 crore on the BSE at 1020 hours.

The m-cap of BSE-listed companies stood at Rs 1,25,70,652.63 crore at the end of trading on Thursday.

Traders said besides global selloff, incessant foreign fund outflows also weighed on investor sentiments.

On a net basis, foreign institutional investors sold equities worth Rs 3,475.29 crore on Thursday, data available with stock exchanges showed.

On the BSE, 1,279 scrips declined, while 193 advanced and 40 remained unchanged.

Volatility heightened in global markets as benchmarks world over went into panic mode, insinuating a freakish selloff.

Bourses in Shanghai dropped over 3.32 per cent, Hong Kong 5.61 per cent, Seoul 7.58 per cent and Tokyo cracked up to 7.97 per cent.

Wall Street lost 10 per cent in overnight trade.

More than 1,30,000 cases of the novel coronavirus have been recorded in 116 countries and territories, killing at least 4,900 people.

The number of coronavirus patients in India has risen to 74, as per the health ministry.

New Delhi, Mar 12: The Supreme Court told the Uttar Pradesh government on Thursday that as of now, there was no law that could back their action of putting up roadside posters of those accused of vandalism during anti-CAA protests in Lucknow.

An apex court bench refused to stay the March 9 Allahabad High Court order directing the Yogi Adityanath administration to remove the posters.

The top court, which grilled the Uttar Pradesh government for putting up such posters in public, described the plea as a matter that needed "further elaboration and consideration".

A vacation bench of justices U U Lalit and Aniruddha Bose said a "bench of sufficient strength" would consider next week the Uttar Pradesh government's appeal against the Allahabad High Court order directing the state administration to remove the posters of those accused of vandalism during anti-CAA protests.

It directed the apex court registry to put up the case file before Chief Justice of India (CJI) S A Bobde so that a "bench of sufficient strength can be constituted at the earliest to hear and consider" the case next week.

During the hearing, the bench told Solicitor General Tushar Mehta, appearing for the Uttar Pradesh government, that it was a matter of "great importance".

It asked Mehta whether the state government had the power to put up such posters.

The top court, however, said there was no doubt that action should be taken against rioters and they should be punished.

Mehta told the court that the posters were put up as a "deterrent" and the hoardings only said that these persons were liable to pay for their alleged acts during the violence.

Senior advocate A M Singhvi, appearing for former IPS officer S R Darapuri whose poster has also been affixed in Lucknow, told the bench that the state was duty-bound to show the authority of law backing its action.

He said the action of the Uttar Pradesh government amounted to a "mega blanket" approach of naming and shaming these persons without final adjudication and it was an open invitation to common men to lynch them as the posters also had their addresses and photographs.

New Delhi, Feb 24: The shared values between India and the US are "discrimination, bigotry, and hostility towards refugees and asylum seekers", Amnesty International USA said in a joint statement with Amnesty International India ahead of US President Donald Trump's visit to India on Monday.

Trump, accompanied by his wife Melania, daughter Ivanka and son-in-law Jared Kushner as well as senior officials of his administration, landed in Ahmedabad on the first leg of his two-day visit to India.

"Anti-Muslim sentiment permeates the policies of both U.S. and Indian leaders. For decades, the U.S.-India relationship was anchored by claims of shared values of human rights and human dignity. Now, those shared values are discrimination, bigotry, and hostility towards refugees and asylum seekers,” Margaret Huang, Amnesty International USA’s executive director, was quoted as saying in the statement.

It was a reference to the anti-CAA protests in India, the internet lockdown in Jammu and Kashmir and the Muslim ban expansion by President Trump affecting Nigeria, Eritrea, Myanmar, Kyrgyzstan, Sudan and Tanzania, the statement said.

It added that Amnesty International USA’s researchers travelled to Lebanon and Jordan to conduct nearly 50 interviews with refugees that as a result of the previous version of the ban have been stranded in countries where they face restrictive policies, increasingly hostile environments, and lack the same rights as permanent residents or citizens.

The statement also came down hard on the Indian government, hitting out at the Citizenship (Amendment) Act (CAA) 2019 and saying it legitimises discrimination based on religious grounds.

It criticised statements such as “identify them (the protestors) by their clothes” or “shoot the traitors” by Prime Minister Modi and his party workers. Such remarks "peddled the narrative of fear and division that has fuelled further violence", it said.

“The internet and political lockdown in Kashmir has lasted for months and the enactment of CAA and the crackdown on protests has shown a leadership that is lacking empathy and a willingness to engage. We call on President Trump and Prime Minister Modi to work with the international community and address our concerns in their bilateral conversations,” Avinash Kumar, executive director, Amnesty International India said in the statement.