President's rule imposed in Uttarakhand

Feb 14: R K Pachauri, a former chief of The Energy and Resources Institute, passed away on Thursday after a prolonged cardiac ailment, TERI Director General Ajay Mathur said.

He was 79.

"It is with immense sadness that we announce the passing away of R K Pachauri, the founder Director of TERI. The entire TERI family stands with the family of Dr Pachauri in this hour of grief," Mathur said in a statement issued by the TERI.

"TERI is what it is because of Dr Pachauri's untiring perseverance. He played a pivotal role in growing this institution, and making it a premier global organisation in the sustainability space," said Mathur, who succeeded Pachauri at TERI in 2015. Pachauri was admitted to Escorts Heart Institute in the national capital where he underwent open heart surgery and was put on life support on Tuesday, sources said.

In the statement issued by TERI, its Chairman Nitin Desai hailed Pachauri's contribution to global sustainable development as "unparalleled".

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

New Delhi, Jul 23: A Delhi court Thursday allowed 198 Indonesians to walk free on payment of varying fines, after they accepted mild charges under the plea bargain process, related to various violations including visa norms while attending the Tablighi Jamaat event here during the COVID-19 lockdown.

Metropolitan Magistrate Vasundhara Azad allowed 100 Indonesians to walk free on payment of a fine of Rs 7,000 each, said advocates Ashima Mandla, Fahim Khan and Ahmed Khan, appearing for them.

Metropolitan Magistrate Swati Sharma allowed 98 Indonesians to walk free on payment of a fine of Rs 5,000 each.

The court directed the 98 Indonesians to deposit their fines to PM CARES Fund.

The Sub-divisional magistrate of Defence Colony, who was the complainant in the case, Assistant Commissioner of Police of Lajpat Nagar and Inspector of Nizamuddin said they have no objection to it.

However, one Indonesian did not plead guilty to the charges against them and claimed trial before the court.

Under plea bargaining, the accused plead guilty to the offence praying for a lesser punishment. The Criminal Procedure of Code allows for plea bargaining in cases where the maximum punishment is 7-year imprisonment; offences don''t affect the socio-economic conditions of the society and the offence is not committed against a woman or a child below 14 years.

The foreigners were chargesheeted for attending the religious congregation at Nizamuddin Markaz event in the national capital by allegedly violating visa conditions, indulging in missionary activities illegally and violating government guidelines, issued in the wake of Covid-19 outbreak in the country.

They were granted bail earlier by the court on a personal bond of Rs 10,000 each.