Five dead in New Year's Eve clashes on India-Pakistan border

January 1, 2015

New Years Eve

Srinagar, Jan 1: Indian border forces killed four Pakistani interior-ministry troops on New Year's Eve, ending a year in which clashes between the nuclear-armed neighbours have escalated and hopes for reconciliation faded.

Wednesday's incident, on the international border in Jammu and Kashmir, followed the killing earlier in the day of an Indian border guard, a senior officer from India's Border Security Force said.

"We have retaliated effectively ... four Pakistani rangers have been killed along the International Border in Samba sector this evening, said Rakesh Sharma, BSF inspector general for the Jammu Frontier.

"As Pakistani rangers suffered casualties, they waved white flags, asking BSF to stop the firing so that they can lift the bodies of the dead men. We stopped the firing after their request," Sharma said.

Frontier clashes have intensified in recent months, dashing hopes that a brief thaw in relations after Indian Prime Minister Narendra Modi was elected in May would lead to a calming of the situation.

The worst violence has been further north in the mainly Muslim Kashmir Valley, where separatist militants killed 11 Indian soldiers and police in early December, the worst losses in six years.

Jammu and Kashmir held state elections in December in which Modi's Bharatiya Janata Party made gains. While leaving the party short of a majority, the result could open the way for it to form a ruling coalition with a regional party.

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News Network
June 18,2020

New Delhi, Jun 18: For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday.

The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre.

Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

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Agencies
January 23,2020

Jammu, Jan 23: The National Investigation Agency (NIA) has brought the disgraced Deputy Superintendent of Police (DSP) Davinder Singh to Jammu for investigations.

According to sources, Davinder Singh has been brought on a transit remand. A formal remand from the NIA court for interrogation will be taken on Thursday.

On Wednesday, fresh raids were carried out by the NIA at Singh's residences in Srinagar.

Singh was caught while transporting two militants, Naveed Babu and Rafi Ahmed, and a lawyer Irfan Ahmed in a vehicle to Jammu on January 11.

According to sources the two militants and the lawyer had plans to travel to Pakistan after reaching Jammu.

The case was transferred to the NIA after initial investigation by the Jammu and Kashmir Police.

Singh has been dismissed from the service and the Jammu and Kashmir administration on Monday forfeited the commendation medal and certificate awarded to him.

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News Network
January 7,2020

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

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