Author: PTI

BJP losing ground everywhere, says Kejriwal, urges Haryana to lead ‘revolution’ against Modi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

BJP is losing ground across the country and will not win more than 230 seats all told, Delhi Chief Minister Arvind Kejriwal claimed on Tuesday, as he called on the people of Haryana to start the “revolution” to unseat the saffron party-led alliance from the Centre.

Kejriwal made the remarks in a roadshow for party candidate Sushil Gupta in Kurukshetra’s Pehowa, where he attacked the BJP-led Centre for his jailing, claiming it is scared of him.

This was Kejriwal’s first visit to Haryana after being released on bail.

Gupta, the AAP’s Kurukshetra Lok Sabha candidate, accompanied Kejriwal during the roadshow.

The Aam Aadmi Party national convenor was granted interim bail till June 1 by the Supreme Court on May 10 in a money laundering case linked to the alleged Delhi excise policy scam.

Addressing a gathering during his roadshow, Kejriwal said, “n March 16, elections were announced. On March 21, they sent me to jail. This means they wanted Kejriwal to not campaign. They are scared of Kejriwal.” He said the Narendra Modi government has lost ground and named several states where the BJP’s seats, according to him, were declining.

“In the entire country, the situation is turning against them. BJP is losing badly … In Haryana, Rajasthan they are losing; in Maharashtra, Karnataka, Jharkhand, Bihar, UP, West Bengal, Delhi, Punjab, their seats are coming down. No where there is an increase in their seats.”

“They claim they will win 400 seats. Today I can tell you in writing that they are not winning more than 230 seats,” Kejriwal said.

He exhorted the public to throw the BJP-led alliance from power, and with it, Modi’s “dictatorship.” “History is witness, whenever there has been a revolution in the country, it has started from the brave land of Haryana. The campaign to end the dictatorship from this country should begin from Haryana,” he said, adding, he was sure of a clean sweep in the state and ultimate victory of the INDIA bloc.

Kejriwal said he felt “sad” when the farmers, three years ago, were stopped at Delhi’s borders and prevented from entering the national capital for their agitation.

“I felt very bad, but I could not have my way because the Delhi Police is not under us. They dug iron nails on roads … ‘China jab hamari zameen hadapta hai unke liye keelen nahi thokte,'” he said, referring to the allegations of land grab by China in Ladakh.

“But they placed large nails, cement boulders for farmers. They did not let farmers enter Delhi as if farmers were their enemies … ‘Inke Pitaji ki Delhi hai?'” he said.

Delhi belongs to the 140 crore people of the country and not to any specific group, he added. “This time oust them from Delhi by voting them out.” The Delhi CM also championed the women wrestlers who sat on protest at Delhi’s Jantar Mantar last year against several alleged instances of sexual assault against former Wrestling Federation of India president Brij Bhushan Sharan Singh.

The protesters were met with stiff resistance from the Delhi Police during their weeks-long sit-in, at least once leading to a skirmish.

“What they did with our wrestler daughters, did you see that or not?” Kejriwal asked the public.

“The person against whom fingers were pointed, his son was rewarded with a ticket,” he said without naming anyone.

Kejriwal said the BJP has a “washing machine” which cleans all the “corrupt” who join their party. “They send the honest to jail and make dishonest join their party.” The BJP has fielded Brij Bhushan Sharan Singh’s son Karan Bhushan Singh from UP’s Kaiserganj Lok Sabha seat. The decision has reignited allegations of callousness towards women by the BJP.

Referring to the BJP manifesto, Kejriwal said all of Modi’s “guarantees” are fake.

“Earlier, a guarantee was given by them that ₹15 lakh will be deposited in every person’s account, also of giving two crore jobs every year … but they never came good on those guarantees,” he said and asked the public to repose their faith in “Kejriwal ki Guarantee.” Kejriwal, who will be out till June 1, said it’s up to the people to decide whether he goes back to jail or not.

“Now, it is up to you … when you go to vote, think in your hearts if Kejriwal has to be sent to jail or not.” He said he had to go to prison because he created good schools, Mohalla Clinics, free electricity and free water. “This is my fault.”

A diabetic, Kejriwal alleged that when he was in jail, the prison authorities stopped his insulin for 15 days even when he was supposed to take it every day.

“My blood sugar levels rose to 300-350 and I told them it would cause damage to my liver and kidney. This was the treatment they meted out to me,” he said.

Kejriwal, who also held roadshows in Shahabad, Ladwa, and Radaur areas of Kurukshatra, said the INDIA bloc will abolish Agniveer scheme for military recruitment and regularise the Agniveers already enrolled.

He said the alliance will implement the Swaminathan Commission report and will ensure farmers MSP on all crops and their procurement by the Centre.

Old Pension Scheme will be given to government employees, he said.

Voting for all 10 Lok Sabha seats in Haryana will be held in the sixth of the seven phase general election on May 25.

The AAP, a constituent of the INDIA bloc is fighting Kurukshetra seat while the remaining nine seats in Haryana are being contested by Congress.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Disasters triggered over half million internal displacements in India in 2023: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

India experienced over half a million internal displacements due to floods, storms, earthquakes, and other disasters in 2023, a sharp dip from around 2.5 million displacements in 2022, according to a global report released on Tuesday.

Deadly floods left behind a trail of destruction in the Himalayan states of Himachal Pradesh and Uttarakhand last year. The glacial lake outburst flood in Sikkim in October 2023 led to the collapse of a hydroelectric dam, killed more than 100 people, and affected more than 88,000.

In Delhi, identified as a “flood displacement hotspot”, the Yamuna River overflowed after heavy rains on July 9, 2023, prompting authorities to evacuate residents from their homes.

The report by the Geneva-based Internal Displacement Monitoring Centre (IDMC) said around 27,000 displacements in the national capital.

On July 9, Delhi recorded 153 mm of rainfall in just 24 hours, the highest single-day rainfall since July 25, 1982.

Overall, South Asia reported around 3.7 million internal displacements in 2023, with disasters causing 3.6 million, the lowest figure since 2018.

Researchers attributed the decline in displacements due to disasters partly to the El Nino event, which brought below-average rainfall during the monsoon and a weaker cyclone season.

However, floods and storms continued to displace people, often in the same areas.

At 3,52,000, India’s flood displacement figure was the lowest since 2008, with the largest event triggering about 91,000 displacements in Assam in June, affecting 20 districts.

Cyclone Biparjoy, which formed in the Arabian Sea in early June, led to widespread flooding across Gujarat and Rajasthan, causing 105,000 displacements as it moved inland.

Cyclone Mocha, the largest disaster displacement event of 2023 in South Asia, triggered 1.3 million displacements in Bangladesh, mainly in Cox’s Bazar district.

Forecasting and early warnings allowed authorities to initiate emergency procedures before Mocha’s landfall, aiding pre-emptive evacuations from densely populated areas.

The IDMC said South Asia’s cyclone season was less intense in 2023 than in previous years because of El Nino, but storms still triggered 1.8 million movements, about half of the region’s disaster displacements.

Government-led pre-emptive evacuations accounted for at least three-quarters of this figure.

According to the report, disasters triggered 26.4 million displacements in 2023, the third highest annual total in the last 10 years.

No country is immune to disaster displacement, said Alexandra Bilak, the director of IDMC.

“But we can see a difference in how displacement affects people in countries that prepare and plan for its impacts and those that don’t. Those that look at the data and make prevention, response and long-term development plans that consider displacement fare far better,” she said.

Extreme weather events such as floods and heatwaves are becoming more frequent and are projected to increase manifold in India in the future due to climate change, according to a 2022 report by researchers at the Indian Institute of Technology, Gandhinagar.

The increase in the concentration of heat-trapping greenhouse gases has heightened instability in the atmosphere, leading to increased convective activity thunderstorms, lightning, and heavy rain events.

According to meteorologists, cyclonic storms are intensifying rapidly and retaining their intensity for longer durations due to global warming.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Record rise in India’s passenger vehicle sales, SIAM reports

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Passenger vehicle wholesales in India rose to record levels in April driven by strong demand for utility vehicles, automobile industry body SIAM said on Tuesday. The overall passenger vehicle dispatches from companies to dealers rose 1.3% year-on-year to record levels of 3,35,629 units in April, as compared to 3,31,278 units in April 2023.

Utility vehicle sales stood at 1,79,329 units last month, up 21% from 1,48,005 units in the same month last year. Passenger car dispatches, however, declined by 23% to 96,357 units, as compared to 1,25,758 units in April 2023.

Van sales rose 15% to 12,060 units last month, as against 10,508 units in April last year. As per the data issued by the Society of Indian Automobile Manufacturers (SIAM), two-wheeler wholesales rose 31% to 17,51,393 units last month, as compared to 13,38,588 units in April last year.

Motorcycle wholesales stood at 11,28,192 units last month, up 34%, as compared to 8,39,274 units in the same month last year. Scooter wholesales rose 25% year-on-year to 5,81,277 units in April, as compared to 4,64,389 units in the same month last year.

Three-wheeler wholesales rose 14.5% to 49,116 units last month, as against 42,885 units in April 2023. SIAM President Vinod Aggarwal said the current fiscal has started on a reasonably good note for the auto industry, as all the segments have posted growth in April 2024, compared to April 2023, driven by positive consumer sentiments and festivities during the month.

”Above normal monsoon rainfall, policy continuity post-elections and government’s push on manufacturing and infrastructure would propel the overall economic growth which would help in continuing the auto sector’s growth trajectory,” he added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Post-study visa route dominated by Indians should stay, finds UK review

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

A post-study visa route dominated by Indian graduates is helping the universities in the UK make up for financial losses on the domestic front and expanding the country’s research landscape, a review commissioned by the British government concluded in its report on Tuesday.

The independent Migration Advisory Committee (MAC) had been tasked by UK Home Secretary James Cleverly to undertake a rapid review of the relatively new Graduate Route visa that allows international students to stay on for up to two years after their degree to look for work and gain work experience.

It found that Indian students lead the pack in this visa category, accounting for 89,200 visas between 2021 and 2023 or 42 per cent of the overall grants, and the visa was stated as the “overwhelming decision point” for their choice of a higher education destination.

“Our review recommends the Graduate Route should remain as it is and is not undermining the quality and integrity of the UK’s higher education system,” said MAC Chair Professor Brian Bell.

“The Graduate Route is a key part of the offer that we make to international students to come and study in the UK. The fees that these students pay help the universities to cover the losses they make in teaching British students and doing research. Without those students, many universities would need to shrink and less research would be done,” he added.

Also Read: UK implements increased income threshold for family visas; All you need to know

Bell’s review goes on to highlight the “complex interaction” between the immigration policy and higher education policy as it tables a series of recommendations for the government including a mandatory registration system for international recruitment agents whose “poor practices” may be mis-selling UK higher education and better data collection as well as making it a requirement for universities to confirm the course outcome for the international students they enroll.

“The Graduate Route is not undermining the integrity of and quality of the UK higher education system. Under the current funding models for higher education across the UK, the Graduate Route is helping the universities to expand the range of courses offered while making up for financial losses on domestic students and research and is supporting the government’s International Education Strategy,” the review concludes.

“It has also contributed to diversifying the range of universities, and thus domestic students, that benefit from the financial contribution international students make. However, the potential poor practice by some agents recruiting international students does risk undermining the integrity of higher education in the UK, as set out in the abuse section,” it notes.

Also Read: Rishi Sunak toughens UK visa rules to cut immigration —here’s how it will impact Indians

Among the other findings of the ‘Rapid Review of the Graduate Route’ report, the majority of those on the visa route completed postgraduate taught courses, and the growth in numbers comes largely from the second-tier institutions, or UK universities outside the Russell Group, which account for 66 per cent of all Graduate Route visas.

The age profile of those on the Graduate Route involved those aged over 25 increasing by approximately 15 percentage points to 54 per cent latest. However, this is likely to be affected by the Home Office’s recent crackdown on international students being able to sponsor family dependents on their visas.

The MAC also found that Graduate Route visa holders are initially over represented in lower-paid work with their outcomes, including wages improving over time as they move on to Skilled Worker visas.

The review was commissioned to examine evidence of any abuse of the route, demographics and trends for students accessing a study visa and subsequently entering the UK labour market, what individuals do during and after their time on the Graduate Route. With immigration, both legal and illegal a priority issue ahead of a general election expected later this year, the government said it wanted to ensure those utilising this visa route contributed to the UK economy.

UK-based Indian student groups, who gave evidence to the MAC review, had feared an unfair crackdown on this post-study offer that is seen as crucial to students from India choosing the UK universities over other destinations like Australia, Canada or New Zealand. The government usually takes the MAC’s conclusions on board when deciding on migration policy, but diaspora groups fear the UK’s post-study offer may yet face some restrictions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

SAD’s Harsimrat Kaur declares assets worth ₹135 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Shiromani Akali Dal’s Bathinda candidate Harsimrat Kaur Badal has declared her assets, including that of her husband, worth ₹135.79 crore, according to her poll affidavit.

Kaur (57), Shiromani Akali Dal (SAD) chief Sukhbir Singh Badal’s wife, on Monday filed her nomination papers from the Bathinda parliamentary constituency.

According to her poll affidavit, Kaur has declared her and her husband’s movable and immovable assets amounting to ₹54.86 crore and ₹80.93 crore, respectively.

She has also declared the assets size of the Sukhbir Badal HUF amounting to ₹62.70 crore.

She has declared ₹4,136 cash in hand while her husband has ₹1.48 lakh, as per the affidavit. She owns jewellery worth ₹7.03 crore. Kaur has declared immovable properties in Haryana’s Sirsa, and Punjab’s Mohali.

She did a diploma in textile designing from the South Delhi Polytechnic in New Delhi in 1987.

She has declared her liabilities at ₹2.93 crore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Pakistan PM Shehbaz Sharif quits as PML-N President, elder brother Nawaz Sharif set to assume post

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Prime Minister Shehbaz Sharif on Monday resigned as the President of the Pakistan Muslim League-Nawaz (PML-N), paving the way for his elder brother and former premier Nawaz Sharif to retake the helm of the ruling party amid internal strife. In his resignation letter addressed to the PML-N secretary general, Shehbaz cited the tumultuous events of 2017, which resulted in the “unjust” disqualification of Nawaz from the Prime Minister’s Office and the presidency of the party, and said he was entrusted with the responsibility of assuming the presidency of the party.

Shehbaz said that his brother had entrusted him with the responsibility of assuming the party presidency in the face of adversity and added that it was a duty he had upheld with utmost dedication and sincerity.

“However, I am cognisant that this role has always been viewed as a trust bestowed upon me by our revered leader, the 72-year-old said. Nawaz, 74, returned to Pakistan in October last year, ending nearly four years of self-imposed exile in London.”

“I am heartened by recent developments that have exonerated our leader with dignity, affirming his unblemished integrity and commitment to the service of our nation,” he said, referring to the Islamabad High Court ruling on November 29 that acquitted Nawaz in the Avenfield reference.

The next month, on December 12, the PML-N supremo was acquitted in the Al-Azizia reference by the high court. “In light of these developments and the steadfast guidance of our beloved leader, I believe the time has come for Mohammad Nawaz Sharif to resume his rightful place as the president of the PML-N,” Shehbaz said.

It is with a deep sense of duty and reverence for our party’s principles that I tender my resignation as the president, he said. In 2017, the Supreme Court disqualified Nawaz as premier and party president for his alleged corruption in cases related to the Panama Papers revelations about his illegal wealth stashed abroad. He relinquished his position within the party following his disqualification, which also led to his departure from the prime minister’s office.

Nawaz was all set to become prime minister for the fourth time but his party failed to get a clear majority in the National Assembly on its own in the February 8 general elections. In a surprise move, he allowed his younger brother and the incumbent party president Shehbaz — who is considered the favourite of the military establishment — to lead a six-party coalition government at the Centre.

Shehbaz’s resignation comes amidst internal tensions within the ruling party in Punjab and at the federal level. Several prominent figures within the party, including Rana Sanaullah, Javed Latif, Senator Javed Abbasi, and former Senator Asif Saeed Kirmani, have publicly criticised the leadership. PML-N’s Punjab unit has already unanimously passed the resolution to make Nawaz the party president.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Noida Airport onboards Heinemann Asia Pacific, BWC Forwarders as retail, duty-free partners

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Noida International Airport on Monday said it has onboarded Heinemann Asia Pacific and BWC Forwarders Pvt Ltd as its retail and duty-free partners. The agreement includes the duty-free concession, to be operated by Heinemann, the airport said in a statement, adding that the master concessions for domestic retail and international duty-paid retail will be operated by BWC Forwarders.

The international duty-free outlet at the airport will offer a wide selection of premium brands. Some of the curated categories will include premium liquor, tobacco, confectioneries, perfumes, cosmetics, fragrances, and exquisite chocolates, it said.

Additionally, there will be items such as fashion accessories, regional handicrafts, souvenirs, ayurvedic products, packaged food, as well as a variety of tea, coffee, and spices, as per the statement. The Noida International Airport is coming up in the Jewar of Gautam Buddh Nagar of Uttar Pradesh.

The greenfield facility is located about 75 km from Delhi and is scheduled to start operations by end of this year, according to officials.

“Passengers travelling through Noida International Airport will have a seamless and engaging experience with the Heinemann-branded stores, no matter where they fly. A first in domestic retail environment in India, an innovative market walkthrough concept will transform the shopping experience for domestic passengers,” the statement said.

Noida International Airport CEO Christoph Schnellmann said this partnership will provide a seamless blend of duty-free and retail shopping, catering to the diverse needs of the travellers at the world-class facility.

“This will enable access to an array of premium and experiential options that will ensure our passengers’ time at the airport is both enjoyable and memorable. We believe this collaboration will set a new standard for airport retail, creating an unparalleled shopping experience for travellers at the airport,” he said.

Heinemann Asia Pacific CEO Marvin von Plato said his company is excited to soon start operations at Noida International Airport together with their Indian consortium partners BWC Forwarders.

“The Indian growth story, particularly when it comes to travel and aviation, is an extremely exciting onwards and upwards journey to be a part of,” he said. BWC Forwarders Director Raja Bommidala said the partnership would bring a truly world-class traveller experience to India, merging BWC Forwarders’ wealth of supply chain and logistics experience in Indian travel retail, with Heinemann’s global expertise and track record of operational excellence.

“We are proud to be part of Noida International Airport, the world’s newest gateway to India,” Bommidala said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Nepal’s Deputy Prime Minister Upendra Yadav quits in a setback for Prachanda-led government

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Nepal’s Deputy Prime Minister and senior Madhesi leader Upendra Yadav on Monday tendered his resignation and his party pulled out of the government, a setback to Prime Minister Pushpa Kamal Dahal Prachanda-led coalition government.

Yadav, also the Minister for Health and Population, submitted his resignation to Prime Minister “Prachanda” on Monday morning, according to sources close to the Madhesi leader. Along with Yadav, Minister of State for Forest and Environment Dipak Karki, from the same party, has also submitted his resignation.

The resignation by Yadav, the Chairman of Janata Samajwadi Party Nepal (JSP-Nepal), comes a week after his party split into two groups with senior leader Ashok Rai forming a new party named Janata Samajwadi Party. The new party has been recognised by the Election Commission.

“This morning, I submitted my resignation to Prime Minister Dahal. Given the current political situation, I find it untenable to continue my cooperation with the government,” Yadav said.

The JSP-Nepal had altogether 12 lawmakers in the House of Representatives (HoR). Now the party’s strength has been reduced to 5 in the HoR as Rai and six other lawmakers and 30 central committee members joined the new party.

The ruling coalition led by Prime Minister Prachanda still holds a majority with 77 seats of the CPN-UML, 32 of the Maoist Centre, 21 of the Rastriya Swatantra Party, seven of the newly formed Janata Samajbadi Party and 10 seats of the CPN-Unified Socialist (CPN-US). The coalition requires at least 138 seats in the 275-member House of Representatives to prove a majority.

“The party’s pull out from the government will not have an immediate impact on the Prachanda-led coalition government,” said Sunil Manandhar, former environment minister and central committee member of the ruling CPN-Maoist Centre. However, it may have some repercussions on the stability of the government in the long term, he added.

There are reports that the Opposition Nepali Congress is trying to mobilise JSP-Nepal and CPN-US led by former prime minister Madhav Nepal to topple the Prachanda-led government. Nepali Congress is currently obstructing the proceedings of the House of Representatives demanding the resignation of Deputy Prime Minister and Home Minister Ravi Lamichhene, who is also the president of the Rastriya Swotantra Party over the issue of cooperative fund misappropriation.

If CPN-US also withdraws support from the government then the Prachanda-led government might need to prove its majority in the House of Representatives, point out political observers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Certification must for AIF Manager’s investment team: SEBI

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Securities Exchange Board of India (SEBI) has amended rules making it mandatory for at least one key personnel within an investment team of an Alternative Investment Fund (AIF) manager to obtain requisite certification.

The new requirement is aimed at boosting competency and professionalism in the AIF space.

In a notification dated May 10, SEBI said, ”At least one key personnel, amongst the associated persons functioning in the key investment team of the Manager of an Alternative Investment Fund, shall obtain certification from the National Institute of Securities Market (NISM) by passing the NISM Series-XIX-C.”

To give this effect, the Securities and Exchange Board of India (SEBI) has amended AIF rules.

The new rules have been made applicable from the same date.

Through this requirement of certification for key personnel, the capital markets regulator is looking to ensure a higher proficiency in managing AIFs.

Last month, SEBI announced that certain changes in the private placement memorandum of AIFs can be submitted directly to the regulator rather than through a merchant banker in a bid to facilitate ease of doing business.

Also, the move is aimed at rationalising the cost of compliance for alternative investment funds.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India’s indies poised on the cusp of a new era in Cannes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

With an entry in almost every major section of the 77th Cannes Film Festival, which kicks off on Tuesday (May 14) evening with French musician-filmmaker Quentin Dupieux’s “Le Deuxieme Acte” (The Second Act), India will have no dearth of action during the 12-day event.

Never before in history have Cannes and its sidebars found space for eight Indian, or India-themed, films. As many as six of these will be in contention for awards. So, when the festival winds down on May 24 and 25, the media contingent from the world’s largest film-producing nation might, fingers crossed, have plenty to write home about.

Indian cinema’s previous best at Cannes was in 2013, when it sent five films to various sections “Monsoon Shootout” (Midnight Screening), “Bombay Talkies” (a Special Screening to mark 100 years since Dada Saheb Phalke’s “Raja Harishchandra”), “Ugly” (Directors’ Fortnight), “The Lunchbox” (Critics’ Week) and “Charulata” (Cannes Classics).

Also Read: India to host ‘Bharat Parv’ at 77th Cannes Film Festival

In 2012, too, India had a substantial presence in Cannes with “Miss Lovely” (Un Certain Regard), “Gangs of Wasseypur” (Parts 1 & 2), “Peddlers” (Critics’ Week) and “Kalpana” (Cannes Classics).

But for many years before and since, the pickings have been dishearteningly slender. One notable aspect of the Indian films in Cannes this year is that they are all either helmed by female directors or are women-centric with the exception of one.

In what could herald a new era, these films, made by directors endowed with sensibilities and approaches entirely their own, have shaken off the shadow of the gangster genre.

Also Read: Cannes Film Festival 2024: ‘All We Imagine As Light’ to ‘Santosh’, check top entries from India

Leading the Indian charge at Cannes 2024 is Payal Kapadia’s India-French-Dutch co-production “All We Imagine as Light”, a film in Malayalam and Hindi. It competes for Palme d’Or, the festival’s top prize, the first Indian film to do so in three decades.

Kapadia will have to beat off, among others, Paolo Sorrentino, David Cronenberg, Andrea Arnold, Kirill Serebrennikov, Paul Schrader, Yorgos Lanthimos. Jia Zhangke and two previous Palme d’Or winners, Francis Ford Coppola (who won for “The Conversation” and “Apocalypse Now”, both in the 1970s) and Jacques Audiard (for “Dheepan”, 2015).

Indian-British filmmaker Sandhya Suri’s “Santosh” and Bulgarian director Konstantin Bojanov’s “The Shameless”, in which Nepal stands in for India, are in the running for awards in the Un Certain Regard section.

FTII alumnus Chidananda S Naik’s “Sunflowers Were the First Ones to Know” is in the La Cinef competition for film school entries. Mysore-based Naik is a qualified doctor. After graduating from medical college, he practised for some time before enrolling in a one-year course in the television wing of the Film and Television Institute of India (FTII). “Sunflowers” was Naik’s final television film at the institute.

Also Read: Cannes Film Festival 2024: 77th edition to begin on May 14 | Details here

La Cinef has Indian filmmaker Mansi Maheshwari representing the UK. The Meerut-born animation director is in the line-up with “Bunnyhood”, a self-reflexive graduation film made at the National Film and Television School (NFTS), London.

Maheshwari studied knitwear design at the National Institute of Fashion Technology (NIFT), Delhi and developed an interest in stop-motion animation. During the Covid lockdown, she made a bunch of animated shorts of varying lengths. She is a 2024 NFTS graduate.

Karan Kandhari’s “Sister Midnight”, an India-British noir drama starring Radhika Apte, is in the Directors’ Fortnight selection. The film will vie for the newly-introduced Quinzaine des Cineastes People’s Choice Award.

Kapadia’s FTII batchmate Maisam Ali, a Ladakh native born in Iran, is the first-ever Indian filmmaker to break into ACID Cannes. His debut feature, “In Retreat”, has been picked for the parallel section devoted to independent cinema.

“In Retreat” is an austere meditation on the notion of home conducted through the minimalistic story of a man who, in his 50s, returns to Leh after a long absence and baulks at the idea of reconnecting with the place he drifted away from many years ago.

In the Cannes Film Festival’s inaugural edition of the Immersive Competition, a title with an India connect is one of eight selected VR (virtual reality) projects “Maya: The Birth of a Superhero”, a British work crafted by multidisciplinary artist-activist Paulomi Basu and her longtime collaborator C J Clarke.

Rounding off India’s presence in Cannes this year is a 4K restored version of Shyam Benegal’s 1976 crowdfunded film “Manthan”. Written by the director in collaboration with playwright Vijay Tendulkar and shot by Govind Nihalani, the film is in Cannes Classics.

“Manthan”, which throws light on the pioneering milk cooperative movement spearheaded by Verghese Kurien, has been restored under the aegis of the Gujarat Cooperative Milk Marketing Federation (GCMMF) by Shivendra Singh Dungarpur’s Film Heritage Foundation (FHF), Prasad Corporation, Chennai, and L’Immagine Ritrovata Bologna.

The Cannes Film Festival will conclude on May 25.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow