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You are here: Home / Archives for News & Politics / India

India Condemns Missile Attacks on Saudi Arabia

March 28, 2018 by Nasheman

India today strongly condemned renewed missile attacks targeting civilian areas in Riyadh and other cities of Saudi Arabia, and reiterated its resolve to fight terrorism and violence in all its forms.

According to Saudi authorities, one person was killed after seven missiles were fired from Yemen by Iranian-backed Houthi rebels on Sunday.

“We strongly condemn the renewed missile attacks targeting civilian areas in the direction of Riyadh and other cities of Saudi Arabia. We are deeply concerned about the escalating situation threatening the lives of innocent civilians. We reiterate our resolve to fight terrorism and violence in all its forms,” the External Affairs Ministry spokesperson said.

The missiles were fired at four targets, including the capital city of Riyadh, and all were intercepted and destroyed, said spokesman of the Saudi coalition forces for supporting the legitimacy in Yemen Colonel Turki Al-Malki in a statement yesterday.

Fragments from the intercepted missiles killed an Egyptian resident, the statement added.

Filed Under: Environment, India

Blockchain will disrupt the Real Estate industry and India has a chance to lead

March 26, 2018 by Nasheman

“Buying real estate is the single largest personal financial transaction any of us makes in our lifetime. It also carries the maximum ‘other extra charges’ that we wish we did not have to incur. Fees, commissions, and taxes! Who loves any of those. “

by Purva Wright

The time is ripe for a disruptor !!!

Who will benefit from Blockchain in Real Estate?

1. Buyers and Sellers: Property search through block-chain-enabled MLS. Greatly simplified process of transacting real estate with less paperwork and administrative overheads. Most secure form of transaction recording that enhances trust between all parties. Greater global exposure to property listings in a standard manner. Greatly reduced transaction costs for both the buyer and the seller.

2. Real Estate Agents: Blockchain enabled MLS Listings. Salespersons and brokers can focus on providing more value-added services while minimizing time spent on creating and managing listings, filling forms/agreements etc.

3. Lawyers: Greatly simplified process of transacting real estate with less paperwork and administrative overheads/costs.

Why is Blockchain surging in popularity across industries

Blockchain is a technology that powers crypto currencies.

It is the most secure way of recording transactions in a centralized ledger that is distributed across the internet. An entry/transaction in this ledger is transparent and immutable. The entry cannot be altered through any means without collusion of the entire internet which would be impossible.

Blockchain’s exponential popularity is because of its inherent security, fault tolerance, and transparency.

It is being adopted across the board in a wide range of industries. Each industry may simply have variations and/or extensions of the above reasons for its adoption; for example:

Banking: Bring trust, simplicity, operational efficiency and enhanced customer experience to banking and payment services.

Financial markets: Use blockchain’s shared immutable ledger to track and manage every step of the financial process, no matter how big or small.

Healthcare: Healthcare payers and providers rally for blockchain’s for clinical trial data, regulatory compliance and electronic medical records (EMR).

Government: Pioneering government organizations are embracing blockchain to boost efficiency and collaboration.

Insurance: Automate transaction processing and reconciliation, help protect parties and their interests, and ensure accurate valuations for insured items.

Supply chain: Add greater visibility and efficiency across the entire supply chain to deliver higher value to your customers and trading relationships.

Identity: Improve authentication and consent of executed government services to increase identity protection.

Voting: Elections require authentication of voters’ identity, secure record keeping for tracking votes, and trusted tallies to determine the winner. In the future, blockchain tools could serve as a foundational infrastructure for casting, tracking, and counting votes — potentially eliminating the need for recounts by taking voter fraud and foul play off the table.

How is Blockchain relevant to the Real Estate industry

The pain points for buying and selling property include a lack of transparency during and after transactions, copious amounts of paperwork, possible fraud, and errors in public records. Blockchain offers a way to reduce the need for paper-based record keeping and speed up transactions — helping stakeholders improve efficiency and reduce transaction costs on all sides of the transaction.

Real estate blockchain applications can help record, track, and transfer land titles, property deeds, liens, and more, and can help ensure that all documents are accurate and verifiable.

Tech startup Ubitquity already offers a Software-as-a-Service (SaaS) blockchain platform for financial, title, and mortgage companies. The company is currently working with the Land Records Bureau in Brazil, among other stealth clients, to input property information and record documents through blockchain.

Specific opportunities in the Real Estate industry

1. Speed-up the Transaction Process

With the blockchain tokens, there would be no need for title searches or a middle man to secure the title transfer. By using a blockchain-distributed database to prove the authenticity of the transaction, a homeowner could transfer title quickly without the need for a third-party verification. This technology could very well disrupt the real estate industry by making the escrow companies obsolete.

2. Increase Transparency

One of the largest costs associated with real estate transactions is the lack of transparency, and the second arises from transaction friction due to so many middle men (think escrow, title, insurance, brokers). The blockchain allows all transactions to happen peer to peer, with no middle men and with all information recorded in a fully transparent manner. This will lead to efficiency and trust!

3. Secure Online Data Storage

More than a cryptocurrency, blockchain technology allows for secure online data storage. This could be used in the future for storing of all property records, including deeds, plats, surveys, title chain, etc. Blockchain may eventually be a part of the multiple listing services as well. Uses other than cryptocurrency may eventually be more common.

4. Be Cost Effective While Trusted

Blockchain will eliminate the need for title insurance and add efficiency and confidence to transactions. It will also add transparency across the entire purchaser platform, so that economics such as not being able to afford an attorney will not be a factor in understanding title and ownership issues.

5. Make Good Information Available Openly

“The most valuable commodity I know of is information” — straight from the mouth of Gordon Gekko himself. Blockchain will be a repository of information. Much of this information, once properly entered, will be very valuable. When organizations have good information, and that information is available openly, the risks to all parties involved in any transaction with that organization are diminished greatly.

Conceptual Solution for Blockchain in Real Estate Transaction

The steps bellows show the Blockchain based future of Real Estate transactions:

The opportunity

India can take the lead across APAC region and the world given the level of digital savvy that exists within our population. Technology centers in Bangalore are best positioned to grab this opportunity of a life time and be able to determine the future of Blockchain in the Real Estate Industry. The provincial government of Ontario can invite the private sector to champion the initiative while ensuring that Real Estate bodies and Regulators play a constructive role in making it easier for the general public to benefit from a greatly simplified and far more efficient process of transacting real estate. The elected government owes it to its citizens.

Filed Under: Business & Technology, India

MEP’s Dr. Nowhera Shaik remembers Bhagat Singh, Rajguru and Sukhdev on Martyrs Day

March 26, 2018 by Nasheman

All India Mahila Empowerment Party’s (MEP) President Dr. Nowhera Shaik paid tributes to Bhagat Singh, Rajguru and Sukhdev on Martyrs Day, with a vow to empower women of this country, and carry forward their legacy.

Paying her tributes, Dr. Nowhera Shaik said that it was people like these, who relinquished everything for the freedom of our country.

She praised the soldiers at the borders, who she compared to the martyrs who sacrificed their lives for the country.

Filed Under: India

Can’t disclose Modi’s flight records under RTI due to security

March 26, 2018 by Nasheman

New Delhi: Records pertaining to Prime Minister Narendra Modi’s chartered flights for visits abroad cannot be disclosed under the RTI Act due to security concerns as per instructions from the PMO, the national carrier has said in response to an application filed by an activist under the transparency law.

In his RTI application dated 2 February, 2018, Commodore (Retd) Lokesh Batra had sought to know from Air India the dates of invoices raised for chartered flights provided by it for foreign visits of the Prime Minister since November 2016, and the dates of forwarding each of these bills to the Civil Aviation Ministry and the External Affairs Ministry.

According to Batra, he got a response from the Central Public Information Officer (CPIO) who said he cannot furnish information sought by him, and also sent him an e-mail communication from the PMO to Air India on the issue.

In that email, sent to an Air India official on December 26, 2016, the Prime Minister’s Office (PMO) had said, “Records pertaining to PM’s flight have certain information which may have security implications and are, hence, exempted from disclosure under clause (g) of Section 8(1) of the RTI Act, 2005.”

“As such, the Air India is advised not to disclose information relating to PM’s flight to such RTI queries,” it said.

It was not clear what had prompted the PMO’s email in 2016.

Section 8(1)(g) of the RTI Act exempts from disclosure information that would endanger the life or physical safety of any person or identify the source of information or assistance given in confidence for law enforcement or security purposes.

After receiving the response of Air India, citing the PMO’s instructions, Batra wrote to Air India saying that there is no provision in the Act to deny information without giving reasons as per section 7(1) of the Act or without quoting the CIC or court orders for denial of Information.

Air India has responded to his letter saying, “We never deny any information which is available as per our records of accounts Dept. As per provision in the Act we are not supposed to supply any copy of our document or as per section 7(1) of the Act, which is informed by PMO.”

Batra has also written to the PMO calling the instruction to Air India a “serious lapse”.

(PTI)

Filed Under: India

Kerala opposition slams Vijayan government over unruly police

March 26, 2018 by Nasheman

The Kerala opposition slammed the Pinarayi Vijayan government in the Assembly on Monday over “losing control” over the state police as they have “become a bunch of unruly hooligans and turned rabid”.

Seeking leave for an adjournment motion on this topic, former Home Minister Thiruvanchoor Radhakrishnan presented cases that took place in the past two weeks involving unruly police officer.

“Earlier this month, in Alappuzha, two civilians were killed by a police vehicle when officers were chasing a traffic violator. In another incident, a police officer punched a retired railway official when he had stopped his car for the Kerala Governor to pass through. Then, a video went viral on social media which showed a police officer hurling abuses,” said Radhakrishnan.

He added that Vijayan and the state police chief Loknath Behera were purposely absent from the House proceedings so that Minister for Culture A.K. Balan was saddled with the responsibility for replying on behalf of the government.

Balan said: “Yes we know of what has happened and it will take time as some officials are still under the hangover of the Congress-led UDF rule.

“While we have suspended five police officers, it will not end with that… No erring officials will get any protection.”

Unhappy with the reply, Leader of Opposition Ramesh Chennithala pointed out that the people’s police have now turned to be people’s tormentors.

“Vijayan appears to have lost control of the police… For the minister to reply, just reading out the version of the police won’t help,” Chennithala said before leading the opposition out of the House.

Filed Under: India

Big Boss Modi likes to spy on Indians: Rahul

March 26, 2018 by Nasheman

Congress President Rahul Gandhi on Monday referred to Prime Minister Narendra Modi as the “Big Boss who likes to spy” and accused him of recording audio, video and tracking user location through GPS from his mobile app.

“Modi’s NaMo App secretly records audio, video, contacts of your friends and family and even tracks your location via GPS (Geo-positioning System). He’s the Big Boss who likes to spy on Indians,” Gandhi tweeted.

“Now he wants data on our children. 13 lakh NCC (National Cadet Core) cadets are being forced to download the app,” he said, urging the people to delete the Namo App from their smartphones.

The Congress chief’s remarks comes after the Bharatiya Janata Party (BJP) earlier on Monday accused him of sharing users data with a Singapore-based firm.

Earlier, the BJP had accused the Congress of compromising national security by roping in London-based political data analytics firm Cambridge Analytica to run its 2019 election campaign. The firm is allegedly involved in social media data manipulation.

Filed Under: India

ISIS operative Yasmin Zahid gets 7-year jail term:Missing Keralites case

March 24, 2018 by Nasheman

National Investigation Agency (NIA) court in Kochi on Saturday sentenced woman ISIS recruiter, Yasmin Mohammed Zahid, to seven years rigorous imprisonment in Kerala’s ISIS case of missing persons who travelled to Afghanistan.

Zahid was arrested from the New Delhi International Airport on July 30, 2016 when she was trying to leave for Kabul along with her minor child.

According to NIA, she was planning to join her co-conspirator and the first accused Abdul Rashid in the territory under the control of ISIS in Afghanistan.

In a major revelation in 2016, Yasmin had informed that 22 Keralites, including six women and three children had left India and had reached the bastion of ISIS terror operations in Afghanistan.

Yasmin told interrogators that she had got married to one Abdul Rashid (30) in May in a nikah-ceremony solemnised over phone in which co-accused Shihas acted as the ‘wali’ (guardian) of the bride, while other co-accused Ashfak and Yahya acted as witnesses.

She also claimed that Rashid had radicalised nearly 40 youths from Kerala.

Last year, the NIA had told an Ernakulam court that Zahid had participated in religious classes conducted by Abdul Rashid and his wife Ayisha in which the main topic was ‘Hijra’, ‘Jihad’ and ISIS.

First accused Abdul Rashid used to send money to the account of Zahid and she used to collect the money using the ATM card. Using that fund Zahid arranged visa and air tickets for Kabul.

Hailing from Saudi Arabia, Yasmin came to Kerala five years ago with her husband Syed Ahmad. She took a job at Peace International School in Malappuram.

Filed Under: India

Lalu sentenced to 7 years each on two counts in Fodder Scan

March 24, 2018 by Nasheman

A special CBI court in Ranchi today sentenced RJD supremo Lalu Prasad Yadav to 7 years in prison in Dumka treasury case. The case is related to fraudulent withdrawals of Rs 3.13 crore from December 1995 to January 1996 from the Dumka treasury, was completed on March 5.

Lalu Prasad Yadav has been serving a jail term in Ranchi’s Birsa Munda Central Jail since December last year after his conviction in two other fodder scam cases. He was shifted to Rajendra Institute of Medical Sciences
(RIMS)on Wednesday after he complained of chest pain.

Earlier in the week, Lalu Prasad Yadav’s wife Rabri Devi, said,” We will follow Court’s order & won’t leave Bihar & go anywhere else however we are also going to appeal in the Court.”

Lalu Yadav was first convicted in a fodder scam case in 2013 and was awarded five years’ imprisonment while the conviction in the second case came in December last year.

Filed Under: India

BJP tally in Rajya Sabha goes to 69, Cong tally goes down to 50 from the present 54

March 24, 2018 by Nasheman

The BJP has made a significant gain of 11 additional seats while the Congress made an overall loss of four in the biennial elections to 58 Rajya Sabha seats, consolidating the saffron party’s position in the House and leaving its main rival far behind.

Its 28 candidates emerged victorious in the polls held yesterday against 17 retiring members, while the Congress won only 10 seats while 14 of its members will retire next week.

A calculation of tallies shows that the BJP’s strength in the 245-member House will go from the existing 58 to 69 and that of the Congress will fall from 54 to 50 when the new MPs take oath next week.

However, a majority in the Council of States will continue to elude the BJP-led NDA.

It recently suffered a setback when the Telugu Desam Party, its ally of four years, decided to break ties. The TDP has six members in the House.

However, NDA managers are upbeat following the loss in numbers of most vocal opposition parties like the Congress and the Samajwadi Party, which won only one seat while its six members are retiring.

BJP sources said treasury benches will now be more comfortably placed in the House as regional parties like the AIADMK, TRS, which has gained three more seats, YSR Congress and the BJD, all of whom are outside the NDA, have been more open to supporting the government’s legislative agenda.

The Modi government’s bills have often been stalled in the House, where it has lacked a majority, by a united opposition after it managed to pass them in the Lok Sabha, where it enjoys a strong majority.

BJP’s winning spree in state Assembly polls has resulted in a steady rise in its numbers in the House, whose members are elected by assemblies, while the loss of power of the Congress in many states has led to a fall in its numerical strength.

Filed Under: India

CBI books Deccan Chronicle Holdings in Rs 30cr fraud

March 23, 2018 by Nasheman

The CBI has filed a case against Deccan Chronicle Holdings Ltd (DCHL)and its Chairman T. Venkatram Reddy for allegedly causing a wrongful loss of Rs 30.54 crore to United India Insurance Co Ltd (UIIC), an official said on Friday.

The FIR registered by the Central Bureau of Investigation (CBI) on Thursday also named Mumbai-based private firms CARE Rating Ltd and Infrastructure Development Finance Co Ltd and two former officials of UIIC.

The UIIC officials — Deputy General Manager A. Balasubramanian and Chief Manager K.L. Kunjilwar — made suspicious investments in the “privately placed short term unsecured redeemable non-convertible debentures issued by DCHL in 2011 in violation of the regulations”.

Balasubramanian and Kunjilwar entered into a criminal conspiracy at Chennai and other places to cheat UIIC and abused their official position as public servants by making the investments which was not repaid by DCHL, causing loss of Rs 30,54,25,350, said the CBI FIR.

“It is revealed that UIIC was investing the premium collected from the policy holders during the ordinary course of business in the form of shares, debentures, commercial papers, term loan etc in the public and private sector companies as per the investment policy guidelines based on the rules of Regulatory and Development Authority of India (IRDA),” the FIR said.

These investments are based on the rating made by Security and Exchange Board of India (SEBI) approved rating agency CARE Rating Ltd, it said.

The FIR said the overall borrowing powers of DCHL was increased from Rs 700 crore to Rs 1,000 crore on the Board of Directors’ annual general meeting held on September 29, 2007 and from Rs 1,000 crore to Rs 5,000 crore in a similar meeting on February 28, 2013.

“As on the date of issue of debentures, DCHL’s total borrowings was Rs 3,755.70 crore.”

According to the FIR, in the pursuance of the criminal conspiracy between July to October 2011, three office notes were put up by Kunjilwar for investment of Rs 10 crore each in 11.25 per cent unsecured non convertible debentures issued by DCHL for purchase of short term unsecured debentures with 364 days maturity without analyzing the proposal in detail and the same was approved by Balasubramanian.

“The investments were made in three different occasions deliberately in order to by-pass the investment committee of UIIC. Thus UIIC invested Rs 30 crore in DCHL. UIIC relied on the rating awarded by CARE Ratings Ltd.

“At the time of investment in 2011, the rating awarded by CARE Rating Ltd was PR1+ and at the time of redemption in 2012, the rating was drastically downgraded to D within a short span of one year.

“On the date of maturity in 2012, the principal amount with interest was not repaid by DCHL. DCHL had issued three cheques of Rs 10 crore each but when presented through encashment, they were dishonoured. Regarding which UIIC lodged a complaint against DCHL which is peding before court,” the FIR said.

(IANS)

Filed Under: India

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