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Siddaramaiah seeks concessions for NRI, PIO community in union budget

CD network
January 8, 2017

Bengaluru, Jan 8: Karnataka Chief Minister Siddaramaiah today urged the Union Government to announce suitable concessions for the NRI and PIO community in the general budget, in the backdrop of recent global developments.

modisid"The event is being held in the backdrop of many a far-reaching change across the world. Particularly, the recent changes in the United States of America and the United Kingdom raise questions on effective movement of skilled workers across borders," Siddaramaiah said.

"It would not be out of place to urge theUnion Government, the Finance Ministry in particular, to beconscious of these changes and announce suitable concessions for the NRI and PIO Community in the General Budget to be presented shortly," he said.

Siddaramaih was speaking at the inauguration of Pravasi Bharatiya Divas Convention here that was attended by Prime Minister Narendra Modi, Portugal Prime Minister Antonio Costa and Suriname Vice President Michael Ashwin Adhin,among others.

He also drew the Prime Minister's attention to the resolutions passed in the Global Convention of the Global Organization of People of Indian Origin (GOPIO), held in Bengaluru recently, seeking extension of time till December 30, 2017, for NRIs and PIO to exchange and deposithigh denomination specified bank notes in Reserve Bank of India or State Bank of India.

Pitching Karnataka as the investment destination by listing various measures taken by his government, theChief Minister referred to the NRI policy brought out bythe state.

"I am glad to share with you that we have announced the NRI Policy of Karnataka, just two days ago, with a vision to play a catalytic role in achieving sustainable linkages in the globe, so that, a progressive, prosperous, robust and vibrant Karnataka is built," he said.

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News Network
June 17,2020

New Delhi, Jun 17: With an increase of 10,974 new cases and 2,003 deaths in the last 24 hours, India's COVID-19 count reached 3,54,065 on Wednesday while the toll due to the virus stands at 11,903.

This includes 1,55,227 active cases and 1,86,935 cured, discharged and migrated patients, according to the Union Health Ministry.

While the spike in the number of cases has stayed below the 11-thousand mark, the death toll has increased manifold today as compared to the 380 death reported on Tuesday.

Maharashtra with 1,13,445 cases continues to be the worst-affected state in the country with 50,057 active cases while 57,851 patients have been cured and discharged in the state so far. The toll due to COVID-19 has crossed the five thousand mark and reached 5,537 in the state.

It is followed by Tamil Nadu with 48,019 and the national capital with 44,688 confirmed cases.

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News Network
March 9,2020

Mumbai, Mar 9: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.

"There is absolutely no question of a merger," Prashant Kumar, the administrator, told the CNBC TV18 channel.

The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender - which is laden with bad debts - failed to raise the capital it needs to stay above mandated regulatory requirements.

Placing Yes Bank under a 30-day moratorium, the central bank imposed limits on withdrawals to protect depositors and said it would work on a revival plan. The move spooked depositors, who rushed to withdraw funds from the bank.

Kumar, a former finance chief at SBI, assured depositors their money was safe and that the moratorium on Yes Bank might be lifted much before the deadline on April 3 and normal banking operations might resume as early as Friday.

He also mentioned that the withdrawal limit of Yes Bank may be removed by March 15, 2020.

SBI Chairman Rajnish Kumar said on Saturday the state-run bank would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank as part of the initial phase of the rescue deal, adding that the survival of troubled lender was a "must".

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News Network
May 20,2020

New Delhi, May 20: With 5,611 new cases reported in the last 24 hours, India's COVID-19 tally reached 1,06,750 on Wednesday, according to the Union Ministry of Health and Family Welfare.

As many as 140 deaths have been reported in the last 24 hours, taking the total number of deaths to 3,303.

Out of the total cases, 61,149 are actives cases and 42,298 patients have been cured/discharged/migrated.

Maharashtra continues to remain the worst-affected state with 37,136 cases, followed by Tamil Nadu (12,448 cases), Gujarat (12,140 cases), and Delhi (10,554 cases).

The nationwide lockdown imposed as a precautionary measure to contain the spread of coronavirus has been extended till May 31.

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