Modi praises Modi: Ex-IPL chief seeks to mend fences with PM

June 27, 2015

New Delhi, Jun 27: The man who is instrumental in inviting the wrath of the opposition on the ruling Bharatiya Janata Party (BJP) and its leader Narendra Modi now appears to be seeking to make amends, after the party said it would seek an interpol 'red corner notice' against him.lallt narendra copy

Lalit Modi, sitting in London, tweeted on Saturday that Prime Minister Modi was a "most savy (sic) man".

The former chief of the Indian Premier League, embroiled in several controversies and whose passport was revoked by the Indian government, said that "when he (Modi) bats, he will hit the ball out of the park".

Lalit Modi, who has been putting out reams of information through tweets and other media, was apparently helped by External Foreign Minister Sushma Swaraj and Rajasthan Chief Minister Vasundhra Raje, at a time when he was being sought by the Enforcement Directorate during the previous United Progressive Alliance regime.

Modi's tweet praising the prime minister came on the day Raje was in Delhi, for an official meeting, but was planning to meet the BJP brass to give her side of the story. According to sources, she was expected to meet the prime minister, but latest reports said that the meeting had not come through.

Raje has accepted that she had signed a document supporting the application of Lalit Modi for a residence visa in Britain. The opposition parties say that at best this points to an impropriety by a leading BJP leader when the IPL chief was wanted by the authorities in India.

Lalit Modi, who has been staying in London for several years, is sought by the Enforcement Directorate for alleged financial irregularities when he was the IPL head.

He has been tweeting regularly, often implying nothing more than a meeting with political figures.

On Friday he said that he and senior Congress leader Kapil Sibal had chatted over three days during a wedding in Istanbul.

Earlier the same day, Modi tweeted that he "bumped into" Congress president Sonia Gandhi's daughter Priyanka and her husband Robert Vadra in a London restaurant last year.

He did not imply any wrongdoing or impropriety on their part. But the BJP, under attack for "supporting a fugitive", immediately reacted asking the Congress president to explain what the meeting between the three was all about.

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News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

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News Network
February 28,2020

New Delhi, Feb 28: The months of March, April and May are "likely to be warmer than normal" over northwest, west, central and parts of south India, the India Meteorological Department said today in its summer forecast.

Above normal heat wave conditions are also likely in the core heat wave (HW) zone during the season (March-May), the weather department said.

The core heat wave zone covers the states of Punjab, Himachal Pradesh, Delhi, Uttarakhand, Haryana, Rajasthan, Uttar Pradesh Gujarat, Madhya Pradesh, Bihar, Chhattisgarh, Jharkhand, West Bengal, Odisha and Telangana and parts of Maharashtra and coastal Andhra Pradesh.

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Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

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