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Panic Among Customers as RBI Imposes Restrictions on New India Co-operative Bank Massive Customer Rush at Bank Branches After the Reserve Bank of India (RBI) imposed severe restrictions on Mumbai-headquartered New India Co-operative Bank Limited , panic-stricken customers rushed to its branches to withdraw their savings. The uncertainty surrounding their hard-earned money led to large crowds gathering at multiple branches in Mumbai, Thane, Surat, and Pune . Customers Express Fear and Frustration Several account holders expressed distress, citing difficulties in accessing their funds. 🔹 Ashok Shetty , a customer, lamented that he needed his deposits for daily expenses and school fees but was informed that no withdrawals would be allowed for six months . 🔹 A senior citizen shared that he had attempted to withdraw his ₹1 lakh savings but was unsuccessful. 🔹 Naveen, another senior citizen , stated that even updating passbooks would help them lodge complaints later. 🔹 Kiran ...

Delhi High Court Issues Notice to Centre on PIL Against Drone Federation of India Over Alleged Forgery Court Issues Notice to Centre The Delhi High Court on Wednesday expressed displeasure with the Ministry of Corporate Affairs (MCA) and Directorate General of Civil Aviation (DGCA) while issuing notice on a public interest litigation (PIL) filed against the Drone Federation of India over allegations of forgery. The bench led by Chief Justice Devendra Kumar Upadhyay , also comprising Justice Tushar Rao Gedela , orally remarked that the DGCA should have filed a complaint and registered an FIR regarding the forgery . DGCA, MCA Directed to Submit Reports The court also directed DGCA, MCA, and other authorities to submit separate reports on the status of the investigation. The matter is scheduled for a detailed hearing on March 19, 2025 . The bench also questioned how a private entity could present itself as a government organisation . Government Response & Alleged Forgery Durin...

Stricter Immigration Rules Coming: Modi Govt’s New Bill Proposes Rs 10 Lakh Fine for Fake Passports Introduction: Immigration and Foreigners Bill, 2025 The Modi government is set to introduce The Immigration and Foreigners Bill, 2025 in the ongoing Budget session of Parliament . The bill, to be presented by Union Home Minister Amit Shah , aims to replace multiple outdated laws and introduce stricter regulations regarding foreign nationals, passports, visas, and national security . Key Provisions of the New Bill 1. Heavy Penalties for Unauthorized Entry & Fake Passports Foreigners entering India without authorization may face a penalty of up to ₹5 lakh . Use of fake or fraudulently obtained passports could result in a fine of up to ₹10 lakh . Overstaying beyond visa duration could lead to three years' imprisonment and a fine up to ₹3 lakh . 2. Replacement of Outdated Laws The new Bill will repeal and replace the following laws: ✅ Passport (Entry into India) Act...

Delhi Court Declines Cognizance in Case Against AAP Leader Somnath Bharti Introduction In a significant ruling, the Rouse Avenue Court in Delhi has declined to take cognizance of the charge sheet filed against AAP leader Somnath Bharti and another accused under Section 132 of the Representation of the People Act, 1951 (RP Act). The court ruled that there was insufficient evidence to establish a criminal offense, thereby dismissing the prosecution’s case. This decision comes after an FIR was registered at the South Campus Police Station in May 2024, alleging that Bharti and his associates entered polling locations and recorded poll procedures during the 2024 Lok Sabha elections . Background of the Case FIR & Allegations 🔹 The FIR was lodged based on two complaints from Presiding Officers of Polling Stations-12 & 14 , who alleged that: ✔️ Somnath Bharti and his supporters entered the polling locations while hiding their mobile phones. ✔️ An accused, Anshul , vid...

SC Rules: Only States Can Tax Lotteries – No Service Tax by Centre Introduction In a significant verdict , the Supreme Court of India ruled that lottery distributors are not liable to pay service tax to the Central Government . The apex court upheld the Sikkim High Court's 2012 decision , stating that only state governments have the power to impose taxes on lotteries under Entry 62, List II of the Seventh Schedule of the Constitution of India. This ruling brings clarity to the taxation of lotteries , reinforcing the exclusive authority of states over gambling-related activities. The Supreme Court's Judgment Key Observations by the Bench 🔹 The bench of Justices BV Nagarathna & N Kotiswar Singh dismissed the Centre’s appeal, citing that the Finance Act amendments of 2012, 2015, and 2016 , which sought to levy service tax on lottery distributors, were ineffective . 🔹 The SC upheld that the business of lotteries operates on a Principal-to-Principal basis , meani...

SMFG India Credit Wins Golden Peacock Award for Corporate Social Responsibility 2024 SMFG India Credit has been honored with the prestigious Golden Peacock Award for Corporate Social Responsibility (CSR) 2024 . This award recognizes organizations that have successfully integrated social and environmental concerns into their business strategy while achieving economic goals. The award was received by Swaminathan Subramanian, Chief Operating Officer , along with the CSR team at SMFG India Credit , for their outstanding contributions to community development . SMFG India Credit’s Commitment to CSR Over the past three years, SMFG India Credit has rolled out several impactful CSR initiatives aimed at empowering communities and promoting sustainability . These include: 🌱 Financial Literacy Programs – Educating underserved communities on financial planning and credit access . 📚 Skill Development Training – Equipping youth with vocational skills for employment. 🏥 Primary Health...

Delhi HC Grants Bail to Retired Major Accused of Cheating Homebuyers The Delhi High Court has granted bail to retired Major Surendra Kumar Hooda , who was accused of cheating and criminal breach of trust in cases related to delayed real estate projects . The bail was granted in three cases registered in 2016 , primarily considering Hooda’s age (82 years) and deteriorating medical condition . The court's decision comes in the backdrop of India's Real Estate Regulatory Authority (RERA) Act , which aims to protect homebuyers from fraud and ensure accountability in real estate projects . Why Was Major (Retd.) Surendra Kumar Hooda Arrested? 📌 Accusations: Hooda was accused of cheating investors by collecting large sums of money through real estate projects under A N Buildwell (ANB) , namely Spire Edge and Spire Woods , without completing them. 📌 Arrest & Legal Proceedings: Arrested on September 20, 2017 , while undergoing treatment for a brain stroke . December 20...

Nepal's Controversial Social Media Bill: A Step Towards Regulation or Censorship? The Nepalese government has introduced the "Social Media Bill" , aiming to regulate digital platforms , enforce user accountability , and curb misinformation . However, critics argue that the bill threatens freedom of speech and privacy , raising concerns about government overreach . Despite strong opposition from political leaders, social media users, and free speech advocates , Minister for Communications and Information Technology, Prithvi Subba Gurung , tabled the bill in the National Assembly on Sunday, February 2025 . The bill proposes strict licensing rules, content restrictions, and hefty penalties for violating regulations. What Does the Social Media Bill Propose? 🔹 Mandatory Licensing for Social Media Platforms Companies operating social media platforms in Nepal must obtain a two-year license . The license must be renewed periodically , giving the government control over...

Jayalalitha’s Niece Moves Supreme Court for Release of Seized Assets The legal battle over the confiscated assets of former Tamil Nadu Chief Minister J Jayalalitha has reached the Supreme Court of India . Her niece, J Deepa , has filed an appeal challenging the Karnataka High Court’s January 13 order , which declined to return the movable and immovable properties seized in the multi-crore disproportionate assets case . Deepa argues that since all criminal proceedings against Jayalalitha stood abated after her demise , the seizure of her properties is legally untenable . She has also sought an interim stay on the orders passed by both the High Court and the Special Court . Why Was Jayalalitha’s Property Seized? The assets in question were confiscated as part of the disproportionate assets case , in which Jayalalitha was accused of amassing ₹66.65 crore in wealth beyond her known sources of income during her tenure as Chief Minister (1991-1996) . 🔍 Key Allegations: 📌 Jayala...

SBI Predicts Another RBI Rate Cut by April If Inflation Remains Favourable The State Bank of India (SBI) has projected that the Reserve Bank of India (RBI) may announce another rate cut as early as April 2025 , provided inflation continues to move in a favourable direction. This statement aligns with the RBI’s commitment to long-term price stability and sustained economic growth . According to SBI Research , the Monetary Policy Committee (MPC) has been closely monitoring inflation trends, especially food inflation , which remains a key concern. Despite positive indicators such as strong kharif production and easing vegetable prices , risks from adverse weather conditions persist. RBI’s Inflation Forecast and Policy Outlook 📉 The RBI has retained its FY25 inflation forecast at 4.8% , with Q4 inflation projected at 4.4% . 📉 For FY26, Consumer Price Index (CPI) inflation is estimated at 4.2% , signaling optimism for price stability. The MPC recently lowered the repo rate by 25 bas...

Delhi High Court Upholds Life Sentence for Three Convicts in Rohini Murder-Dacoity Case The Delhi High Court has upheld the life sentence awarded to three individuals convicted for the murder of a woman during a dacoity in her house in July 2012 in the Rohini area . However, the court modified their sentences to run concurrently instead of consecutively . The judgment was passed by a division bench comprising Justices Prathiba M Singh and Amit Sharma on February 6, 2025 . The court dismissed the appeals challenging the conviction while modifying the sentencing structure. High Court Modifies Sentences but Upholds Conviction The trial court in Rohini had convicted Rajesh alias Tinku, Ravinder alias Tunda, and Rusy alias Surender for murder, trespass, and dacoity under various sections of the Indian Penal Code (IPC) . 🔹 The High Court upheld the conviction but ruled that their sentences should run concurrently instead of consecutively . 🔹 The decision was influenced by...

Delhi High Court Directs Police to File Status Report on Devangana Kalita’s Plea in Delhi Riots Case The Delhi High Court has instructed the Delhi Police to submit a status report on a plea filed by Devangana Kalita , seeking access to protest videos recorded at Jafrabad in connection with the Delhi riots case . The order was issued by Justice Sanjeev Narula , following submissions made by Advocate Adit S. Pujari on behalf of Kalita. The court has scheduled the next hearing for April 23, 2025 . Kalita’s Plea: Demand for Video Footage from Delhi Police Kalita’s legal team argues that: 🔹 Selective video evidence has been used by the prosecution while not providing the full video recordings to the accused. 🔹 The videos will prove that the protest at Jafrabad was peaceful and counter the allegations against her. 🔹 Seizure memos list these videos as evidence, yet they have not been shared with the defense despite four years passing since the incident. Delhi Police’s St...

Vijay Mallya Moves Karnataka High Court, Seeks Loan Recovery Accounts from Banks Fugitive businessman Vijay Mallya has filed a petition in the Karnataka High Court , seeking loan recovery accounts from banks. Mallya, who is currently living in London and facing extradition efforts by the Indian government , claims that banks have already recovered more than twice the loan amount he owed. His legal counsel argues that despite this, the recovery process is still ongoing, and he is still being labeled as an economic offender . Senior advocate Sajan Poovayya appeared on behalf of Mallya, presenting his case before the High Court bench led by Justice R Devadas . The court has issued notices to the banks and loan recovery officers , seeking their response on the matter. Mallya’s Legal Arguments: Claims of Over-Recovery According to Mallya’s counsel, the total loan amount due was ₹6,200 crore , but the banks, along with the Enforcement Directorate (ED) , have recovered ₹14,000 crore ...

  NIA Opposes Rashid Engineer's Interim Bail Plea to Attend Parliament's Budget Session The National Investigation Agency (NIA) has opposed the interim bail plea of Baramulla MP Rashid Engineer , arguing that his request to attend the Parliament's Budget Session is not maintainable . Rashid, currently lodged in Tihar Jail in connection with the Jammu and Kashmir terror-funding case , had approached the Delhi High Court seeking temporary release from January 31 to April 5 . NIA's Opposition to the Bail Plea In its response, the NIA emphasized that interim bail should be granted only in cases of extreme hardship , stating that Rashid’s plea was a misuse of the provision . The agency further argued that Rashid had failed to specify how his attendance in Parliament would benefit his constituency, making his request vague and unjustifiable . The NIA also challenged Rashid’s claim of serving his constituency, demanding proof of work to justify his release. The Ben...

Strengthening Regional Ties: UAE, Kuwait, Saudi Arabia, and India’s Strategic Partnerships in Trade, Security, and Humanitarian Efforts Arab Parliament President Commends UAE's Efforts in Promoting Human Fraternity Mohammed bin Ahmed Al Yamahi, President of the Arab Parliament, has lauded the UAE’s efforts, under the leadership of President Mohamed bin Zayed Al Nahyan, in advancing human fraternity. Al Yamahi emphasized that the UAE’s focus on promoting tolerance, rejecting violence, and supporting humanitarian causes is deeply embedded in the country's values. On the occasion of the International Day of Human Fraternity, celebrated on February 4 each year, Al Yamahi highlighted that the UAE’s example in humanitarian work has earned global recognition. The Arab Parliament President also pointed out that the UAE’s initiatives to foster peace and tolerance are not just regional but have a global impact. This vision of the UAE’s leadership, under the guidance of President Mohame...

Delhi Assembly Elections 2025: Campaigning Ends, Political Crossfire Intensifies Before Polling Day 🗳️🔥 The high-stakes Delhi Assembly Election 2025 campaign has officially concluded, with all three major contenders— BJP, AAP, and Congress —making their final push to sway voters. From EVM tampering allegations to security measures, from Yamuna pollution debates to corruption charges , the capital has witnessed an intense political battle over the last few weeks. As Delhi gears up to vote on February 5 , security has been heightened, and the Election Commission of India (ECI) is leaving no stone unturned to ensure a free and fair election . Delhi Police and ECI’s Security Measures Ahead of Polls 🚔👮‍♂️ To maintain law and order, Delhi Police conducted flag marches , warning against any attempt to influence voters or engage in electoral malpractices. 🔹 Special CP Madhup Tiwari assured that strict action would be taken against those trying to disrupt the polling process ...