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Rupee tumbles 22 paise to all-time low of 83 against US dollar

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Mumbai: The rupee pared initial gains and slumped 22 paise to close at its all-time low of 83 against the US dollar on Tuesday, pressured by a strong greenback overseas and sustained foreign fund outflows.

At the interbank foreign exchange market, the rupee opened on a positive note at 82.69 against the greenback, but pared the gains and fell to an intra-day low of 83.00.

The domestic currency finally settled at 83.00, down 22 paise over its previous close of 82.78.

The domestic currency had last closed at the 83-mark on October 19, 2021.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 1 per cent higher at 104.55.

Global oil benchmark Brent crude futures inched up 0.02 per cent to USD 85.93 per barrel.

According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee continued its downward drift as importers rushed for dollar buying, while the inflows remained muted as traders awaited Wednesday’s Federal Open Market Committee (FOMC) meeting minutes.

Spot USD-INR has been consolidating in the narrow range of 82.40 to 82.95.

“Looking at the greenback price action against the major currencies, the chance of an upward breakout is higher in the pair. Once the breakout confirms above 83, the short-covering rally will be imminent and levels of 83.50 and 83.70 can be seen in a short span of time,” Parmar added.

The 30-share BSE Sensex ended 126.41 points or 0.21 per cent higher at 61,294.20, while the broader NSE Nifty climbed 35.10 points or 0.19 per cent to 18,232.55.

Foreign Institutional Investors (FIIs) remained net sellers in the capital markets on Tuesday as they offloaded shares worth Rs 628.07 crore, according to exchange data.

Anindya Banerjee, VP – Currency Derivatives & Interest Rate Derivatives at Kotak Securities Ltd, said, “Market will be nervous going into Fed minutes tomorrow night. We expect USD-INR to trade within a range of 82.70 and 83.25.”

Jateen Trivedi, VP Research Analyst at LKP Securities, said the rupee has been trading between 82.50-83.00 since mid-December 2022 and looks set for another round of weakness if it breaches 83.00.

Cash-strapped Pakistan announces early closure of markets, wedding halls to save energy

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Cash-strapped Pakistan announces early closure of markets, wedding halls to save energy
Pakistan Defence Minister Khawaja Asif

Islamabad: Cash-strapped Pakistan on Tuesday announced early closure of markets and wedding halls as part of a raft of measures under the energy conservation plan as the government struggled to revive the economy.

Briefing the media after a meeting of the cabinet which approved the National Energy Conservation Plan to save energy and decrease dependence on imported oil, Defence Minister Khawaja Asif said markets would close at 8.30pm while wedding halls would shut doors by 10.00pm respectively, which will “save us Rs 60 billion”.

Announcing more measures, he said that manufacturing of incandescent bulbs would be stopped from February 1 while production of inefficient fans would be stopped from July. He said these measures would help to save another Rs22 billion.

The government would also make the use of conical geysers mandatory within a year, which by using less gas would save Rs 92 billion, and alternative use of street lights would save another Rs 4 billion.

Asif said that all government buildings and offices would also reduce use of energy under the plan and a policy to work from home would also be completed in up to 10 days.

“No lights were on in the cabinet meeting today. The meeting was held in full sunlight,” he said, providing an example for the country to follow.

Asif also said that the cabinet planned to conserve 30 per cent of the electricity used by government departments, which would save Rs 62 billion.

In another step, Asif said that electric motorcycles would be introduced by the end of this year to help cut the import of fuel.

“The plan to save energy is being enforced immediately and the cabinet will monitor it,” he said.

Climate Change Minister Sherry Rehman who accompanied the defence minister at the press conference said the plan would also help to tackle the climate change issue.

“The world has been following this plan for a while and it is imperative for us to change our habits,” she said and asked businesses to cooperate.

The measures to save energy come a day after the National Security Committee agreed that the revival of the economy is essential for national security.

Pakistan’s economic situation is facing “severe headwinds” with inflation being forecast to stay high between 21-23 per cent and the country’s fiscal deficit widening by more than 115 per cent in the first four months (July-October) of the current fiscal year.

Pakistan’s Ministry of Finance in its Monthly Economic Update and Outlook last week said that the economic growth is likely to remain below the budgeted target in FY23 due to devastation caused by floods.

Tunisha case: Court allows actor Sheezan Khan to keep hair uncut in prison

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Tunisha case: Court allows actor Sheezan Khan to keep hair uncut in prison

Palghar: A court at Vasai in Maharashtra’s Palghar district on Tuesday allowed actor Sheezan Khan, arrested for allegedly abetting the suicide of co-actor Tunisha Sharma, to keep his hair uncut for a month.

Khan, lodged in judicial custody, had sought exemption from the mandatory hair cut in prison stating that he wanted to maintain continuity of look for the TV productions in which he is acting.

First Class Judicial Magistrate S D Hargude asked the officials of the Thane central jail, where Khan (27) is lodged, not to force him to have a hair cut.

The order will be in force for one month, advocate Sharad Rai, who represented Khan

The court also asked prison officials to provide Khan security and counselling as per the jail manual.

Tunisha Sharma (21), who was acting in Ali Baba: Dastaan-E-Kabul’, was found dead in the washroom on the set of the TV serial near Vasai on December 24. Khan was arrested the next day for alleged abetment.

After he was sent to the Thane jail on Saturday, Khan urged the court to allow him to keep his hair uncut for continuity in appearance.

Jail officials told the court that as per the rules, only Sikh inmates are allowed to keep their hair long.

The Vasai sessions court will hear Khan’s bail plea on January 7.

Cinema hall owner can determine whether food from outside be permitted: Supreme Court

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New Delhi: The Supreme Court ruled on Tuesday the owners of cinema halls are entitled to set the terms and conditions for sale of food and beverages and can determine whether outside food should be permitted within the theatre precincts.

The apex court set aside a direction of the Jammu and Kashmir High Court which had in July 2018 directed multiplex and cinema hall owners there not to prohibit movie goers from carrying their own food articles and water inside the theatres.

A bench of Chief Justice D Y Chandrachud and Justice P S Narasimha observed that cinema hall is a private property of the owner, who is entitled to have terms and conditions so long as they are not contrary to public interest, safety and welfare.

“Viewers visit a cinema hall for the purpose of entertainment. We are clearly of the view that the high court transgressed the limits in the exercise of its jurisdiction under Article 226 of the Constitution by ordering and directing the state to ensure that there should be no prohibition on a movie goer bringing eatables and beverages from outside within the precinct of a cinema hall,” the bench said.

The top court was hearing a batch of pleas challenging the direction given by the Jammu and Kashmir High Court.

The bench said whether or not to see a movie is entirely the choice of the viewer and, if he or she seeks to enter a cinema hall, they have to abide by the terms and conditions subject to which the entry is granted.

” .it is open to the theatre owner to determine as to whether food from outside the precinct of the hall should be permitted within,” it said, adding that it is evidently a matter of commercial decision of a theatre owner.

The bench noted that during the course of the arguments before it, the counsel appearing for the appellants stated that due arrangements are made for the supply of hygienic drinking water to the movie goers without levying any charge within the precinct of the cinema hall.

The apex court said it was also stated before it that where an infant or a young child accompanies the parents, as a matter of practice, the cinema hall owners have no objection to reasonable amount of food being carried for the child to serve the nutritional requirements.

It observed that whether or not to purchase, food or beverages after given admission to the cinema hall is entirely the choice of a movie goer.

“The property of the cinema hall constitutes a private property of the owner of the hall. The owner of the hall is entitled to have terms and conditions so long as such terms and conditions are not contrary to public interest, safety and welfare,” it said.

Advocate Sumeer Sodhi, appearing for one of the appellants G S Malls Pvt. Ltd, argued the receipts issued by theatre owners have a specific condition mentioned on them to the effect that no outside food is allowed.

The court said the owner of a private property has the right to decide what can be brought in and what not subject to rules.

“Now, the regulation of what can be brought, what cannot be brought within the precincts of a private property . is for the owner of the property to decide, subject to statutory rules which regulate his activity,” the CJI said.

“Suppose, somebody starts getting ‘jalebis’ into the cinema hall, the owner could say you eat your ‘jalebis’ and wipe your hands on the seats,” Justice Chandrachud said, adding, “I am just giving you an example.”

The bench observed the fundamental aspect which needs to be noted is that the trade and business of conducting a cinema theatre is subject to regulation by the state which has framed the Jammu and Kashmir Cinemas (Regulation) Rules, 1975.

It said, admittedly, the rules contain no mandate compelling the owner of a cinema theatre to allow a movie goer to bring food or beverages within the precinct of the theatre.

The bench said it needed no emphasis that the rule making power of the state has to be exercised in a manner consistent with the fundamental right of the hall owners to carry on a legitimate trade and business within the meaning of Article 19 (1)(g) of the Constitution.

In August 2018, the top court had stayed the high court direction to the cinema hall and multiplex owners of the state not to prohibit movie goers from carrying own food and water inside the theatres.

Besides the relaxation on carrying food items inside the theatres, the high court had on July 18, 2018 passed a number of directions related to cinema halls.

The high court had issued a slew of directions on a public interest litigation (PIL) filed by two lawyers, seeking a direction for the implementation of the Jammu and Kashmir Cinemas (Regulation) Rules, 1975 in their letter and spirit.

The PIL before the high court had sought a direction prohibiting the cinema hall owners from restraining the movie goers from taking outside eatables with them inside.

In its order, the high court had directed the state government, the licensing authority and district magistrates to ensure that a ban on polythene bags at multiplexes and cinema halls was strictly enforced.

K’taka bizman suicide case: Congress leaders demand arrest of BJP MLA, others named in FIR

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Bengaluru: Congress leaders on Tuesday demanded the arrest of Karnataka BJP MLA Arvind Limbavali and five others named in the FIR in connection with the alleged suicide of a businessman, and urged the state government to ensure justice to his family.

Siddaramaiah, who is Leader of Opposition in Karnataka Assembly and Randeep Surjewala, who is Congress general secretary in-charge of the State, along with KPCC working president Ramalinga Reddy, met Pradeep’s family at their residence here.

Pradeep (47) was found dead in his car at Nettigere near here on Sunday. He had allegedly shot himself in the head inside his car.

The deceased had purportedly left behind an eight-page death note that named Mahadevapura MLA Aravind Limbavali and five others, following which an FIR was registered by the police against them.

“This is an unfortunate incident linked to a financial deal, it should not have happened. Pradeep’s wife Namita with sorrow said her husband should get justice and that he had invested Rs 1.5 crore into a financial deal, out of which there was no profit of even a paisa so far. The family wants that money back,” Siddaramaiah said.

Speaking to reporters after meeting the family, he said, as MLA of the locality, Arvind Limbavali is said to have tried to settle things.

“Namita is not alleging anything, she is only saying that she wants justice and was not angry with anyone, but when the inference is drawn, six names are mentioned in the death note, which also includes the name of Limbavali. If his name is taken, he is in some way responsible for the death, or else why he would write,” he added.

Noting that the FIR has been registered against Limbavali and five others, the Congress legislature party leader said police should immediately ensure the financial issue is settled and the family gets the money that was invested by Pradeep.

“Also, immediately everyone should be arrested and action should be taken in accordance with law against those responsible for the death. Arrest should happen and criminal trial should follow, and police should ensure that the culprits are punished whether it is a MLA or anyone else. Mistake is a mistake, whoever it may be, they should be punished as per law,” he said.

Suggesting that if not arrested, he claimed evidence may be destroyed by the accused. “Family even alleged that the police took the mobile phone late at night. Police trying to link different angles to the case now is not correct,” he said.

Referring to a similar case against then Minister K S Eshwarappa in connection with the death of a contractor, who made bribery charges against him, Siddaramaiah said the case was closed and demanded that the government should not interfere in the process of law.

“Many incidents of such suicides, mercy petitions are cropping up recently, it is because of corruption and inaction against the corrupt,” he alleged.

Limbavali on his part has said that he had only tried to help Pradeep, and was ready for any inquiry. “In fact, I demand for an inquiry, for the truth to come out.”

The legislator said he doesn’t know as to what was the motive behind mentioning his name in the death note, and ruled out the possibility of any conspiracy against him.

Surjewala said Pradeep was a victim of the “dubious corrupt practices” in the state, and demanded that all perpetrators of this “murder” have to be arrested, whether they are a MLA or a senior BJP leader or somebody else, and the government must ensure every penny is returned to the family.

“In this hour of grief and with a heavy heart, I have to say that the dubious deal and 40 per cent commission is now claiming life after life in Karnataka,” he said, pointing at the recent deaths of contractors – Santosh Patil and Suresh – stating that they committed suicide because of the financial problems and that they couldn’t pay commission.

Questioning as to why should a legislator or a BJP leader be negotiating financial settlements as a judge and jury, Surjewala asked, why should BJP leaders meddle into financial affairs of people.

“Driving a 47-year-old happy man with a happy family to suicide is nothing but a murder, it is not abetment to murder, it is plain and simple murder,” he said, asking can the Chief Minister and BJP leaders wipe the tears of the family.

Congress will see to it that justice is done with regard to Pradeep’s suicide note and what happened with Santosh Patil suicide case don’t repeat, Surjewala said.

“We want to remind Chief Minister Basavaraj Bommai the raja dharma and his duty towards the people of Karnataka, which is above any BJP leader,” he said.

Santosh Patil case, which both leaders repeatedly referred to was regarding the Belagavi-based contractor who was found dead at a hotel in Udupi in April last year, weeks after accusing then Minister Eshwarappa, who is also a senior BJP leader, of corruption.

Jasprit Bumrah added to India’s ODI squad for SL series after NCA fitness clearance

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Jasprit Bumrah added to India's ODI squad for SL series after NCA fitness clearance
Indian star pacer Jasprit Bumrah

Mumbai: Star pacer Jasprit Bumrah was on Tuesday added to India’s ODI squad for the three games against Sri Lanka after National Cricket Academy declared him fit for home series beginning January 10.

Bumrah last played for India in September and had also missed the T20 World Cup in Australia due to a back injury.

“The All-India Senior Selection Committee has included pacer Jasprit Bumrah in India’s ODI squad for the upcoming Mastercard 3-match ODI series against Sri Lanka.

“The pacer has undergone rehabilitation and has been declared fit by the National Cricket Academy (NCA). He will be joining the Team India ODI squad soon,” said the BCCI in a statement.

The first ODI will be played in Guwahati on January 10, second in Kolkata on January 12 and third in Trivandrum on January 15.

With the focus on 50-over cricket in an ODI World Cup year, it is unlikely that Bumrah will feature in the shortest format till the ICC event at home in October-November.

His IPL workload too would be monitored closely by the NCA, as well as other “targeted” India players for the ODI World Cup.

One of the best in the business, Bumrah is vital to India’s chances at the mega event as they look to win the coveted trophy for the second time at home after 2011.

Having made his India debut in 2016, the 29-year-old has represented the country in 30 Tests, 72 ODIs and 60 T20Is.

Experts including the great Michael Holding find Bumrah injury-prone as he generates serious pace with a short-run up.

“My problem with Bumrah, and I mentioned it to him when last time I saw him in England, is how long that body will hold up with that short run and the amount of effort he has to put into in his bowling, it is a human body. It is not a machine,” Holding had said back in 2020.

India’s updated squad for Sri Lanka ODIs: Rohit Sharma (c), Shubman Gill, Virat Kohli, Suryakumar Yadav, Shreyas Iyer, KL Rahul (wk), Ishan Kishan (wk), Hardik Pandya (vc), Washington Sundar, Yuzvendra Chahal, Kuldeep Yadav, Axar Patel, Jasprit Bumrah, Mohd. Shami, Mohd. Siraj, Umran Malik, Arshdeep Singh.

Cong planning to announce first list of candidates for K’taka Assembly polls this month:Siddaramaiah

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Cong planning to announce first list of candidates for K'taka Assembly polls this month:Siddaramaiah

Vijayanagara (K’taka}: Congress Legislature Party leader Siddaramaiah on Tuesday said his party is thinking about releasing the first list of candidates for the Assembly polls in Karnataka, this month.

The Leader of Opposition in the State Assembly expressed confidence about Congress winning the polls, which is expected by April-May, on its own strength and forming a government in Karnataka.

“We are thinking about releasing it (first list) within this month,” Siddaramaiah told reporters in response to a question.

Replying to a query about the party receiving 1,350 applications seeking tickets, he said, “As Congress has more strength, as there is a wave in favour of the party, many people have applied for the candidacy.”

As the party plans to finalise the first list of candidates there seems to be a competition among aspirants backed by Siddaramaiah and State Congress president D K Shivakumar.

Both Siddaramaiah and Shivakumar are nursing Chief Ministerial ambitions in the event of the party coming to power in the State.

According to party sources, aspirants from both camps have applied for tickets in about 80 constituencies of which the competition is said to be intense in about 30-35 segments.

Congress is said to have decided that winnability will be the main criteria for ticket distribution and is likely to bank on internal surveys to decide the candidates, they further said adding that most of the 69 sitting MLAs are likely to be retained.

While, JD(S) has already announced a first list of 93 candidates, the ruling BJP is yet to decide.

Responding to a question on former Minister and mining baron G Janardhana Reddy’s new party announcement, Siddaramaiah said, anyone can float a new regional party in a democracy, ultimately it is the people who decide whether to accept it and its candidates.

Asked about whether Reddy’s new party ‘Kalyana Rajya Pragati Paksha’ will benefit the Congress as there is a sense that it will split BJP’s votes, the former Chief Minister said, “we (Congress) are not dependent on another party. We will win on our own strength. Let some one form a new party or BJP and JD(S) say anything, hundred per cent we will certainly win.”

Pointing out that many leaders including former Chief Ministers – Devaraja Urs, S Bangarappa, B S Yediyurappa, also now Minister Sriramulu had tried to build a regional party in Karnataka and what happened to them is now part of history, he said, “I’m not belittling them, but ultimately people decide in democracy.”

With an aim to win the election and come back to power in Karnataka, the grand old party has set a target of winning at least 150 out of total 224 seats in the Assembly.

‘Detrimental impact on children’: Panel asks UP to remove Pathaan song from social media

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'Besharam Rang' song teaser from 'Pathaan'

LUCKNOW:  The Child Welfare Committee (CWC) in Bahraich, Uttar Pradesh, has asked the UP director general of police to get the clips of the Besharam rang song removed from social media as it may have “detrimental impact on the psyche of adolescents”. The song from the Hindi film, Pathaan, starring Shah Rukh Khan and Deepika Padukone, has been mired in controversy over its lyrics and a skimpy saffron outfit worn by the heroine.

Taking suo motu cognizance of the song going viral on social media amid the ongoing controversy over its lyrics, the CWC Bahraich (bench of magistrate), using the powers under Section 30 (xii) of Juvenile Justice (Care and Protection of Children) Act 2015, wrote a letter to UP DGP on Saturday saying that the Uttar Pradesh government had provided smart phones to teenagers for their all-round development, but they cannot be stopped from watching anything that is easily available on the internet. 

“In such a situation, it is necessary in the best interest of the children that obscene content should be removed from social media,” the letter said. The letter has been signed by CWC Bahraich bench chief Satish Kumar Srivastava and three-member bench comprising Deepmala Pradhan, Archana Pandey and Navneet Mishra.

The song from the Hindi film, Pathaan, starring Shah Rukh Khan and Deepika Padukone, has been mired in controversy over its lyrics and a skimpy saffron outfit worn by the heroine.   

Appreciate Rahul Gandhi for Bharat Jodo Yatra: Secretary Ram Mandir Trust

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Congress leader Rahul Gandhi with young supporters during the party's Bharat Jodo Yatra, in Alwar district, Tuesday, Dec. 20, 2022.(File photo | AP)

AYODHYA: Secretary of Ram Mandir Trust Champat Rai has lauded Congress leader Rahul Gandhi for undertaking the Bharat Jodo Yatra, saying he is walking in harsh weather and that must be appreciated.

His comments came on Tuesday, a day after the chief priest of Ram Janmabhoomi temple Acharya Satyendra Das “blessed” Gandhi for the Yatra.

Rai said, “I thank the young man who is walking on foot in the country, I appreciate his move. There is nothing wrong in it.

“I am the worker of RSS and the RSS never condemned Bharat Jodo Yatra,” he said in reply to a question from reporters about the Yatra which entered Uttar Pradesh on Tuesday.

“He is walking in this harsh weather and this must be appreciated. I must say everyone should do Yatra of the country,” he said.

Another senior trustee of Ram Mandir Trust Govind Dev Giri also hailed Bharat Jodo Yatra.

“I pray to Lord Rama to bless him so that the nation remain united, strong and harmonious. Bharat Jodo is a good slogan and India must unite,” he said.

Aravind Limbavali, five others booked for businessman’s suicide

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BENGALURU: Following the suicide of a 47-year-old businessman, the Kaggalipura police of Ramanagara district registered an FIR against six persons, including BJP MLA Aravind Limbavali, and booked them for abetment of suicide

Pradeep S had ended his life by shooting himself in his car at Nettigere village off Kanakapura Road on Sunday evening. He had left an eight-page death note in which he held six persons, including Limbavali, responsible for his death. His wife Namitha V filed a complaint based on which the police registered an FIR under Section 306 (abetment of suicide) of the Indian Penal Code.

Apart from Limbavali, Gopi K, Somaiah, G Ramesh Reddy, Jayaram Reddy and Raghava Bhat have been named as accused in the FIR.  Meanwhile, the police have started the probe and are gathering technical evidence related to the case. “We have also sought information from banks concerned to share details about some of the bank account numbers Pradeep mentioned in the suicide note,” a senior police officer said.

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