Explore the Vibrancy: A traveler’s guide to spending Baisakhi in Punjab

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

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Baisakhi is an important festival in Punjab that marks the beginning of the harvest season. It is a time for community gatherings, traditional dances, and delicious food. If you’re planning to spend Baisakhi in Punjab, here’s a guide to help you make the most of the festival:

Experience the Harvest Season

Baisakhi marks the beginning of the harvest season, and you can experience the joy of the season by visiting the fields and witnessing the farmers at work. You can also participate in the harvesting process and learn about the different crops grown in Punjab.

Attend a Baisakhi Mela

Baisakhi Melas are organised in various parts of Punjab during the festival. These fairs are filled with stalls selling traditional Punjabi handicrafts, food, and games. You can experience the vibrancy of the festival by attending a Baisakhi Mela.

Also Read: Mumbai’s Bhendi Bazaar transforms into a gastronome’s delight every year during Ramadan

Watch the Bhangra and Giddha Performances

Baisakhi is incomplete without traditional Punjabi dance performances. The Bhangra and Giddha are popular dance forms in Punjab and are performed during the festival. You can watch these performances and even participate in them.

Visit a Gurdwara

Baisakhi is an important festival for Sikhs as it marks the founding of the Khalsa by Guru Gobind Singh. You can visit a Gurdwara, which is a Sikh place of worship, and witness the special prayer services that are conducted during the festival.

Indulge in Traditional Punjabi Cuisine

Baisakhi is a time for feasting and indulging in traditional Punjabi cuisine. You can try dishes like Sarson Ka Saag and Makki Ki Roti, Chana Masala, Aloo Tikki, and Meethi Lassi. You can also participate in the langar, which is a community meal served in Gurdwaras.

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Spending Baisakhi in Punjab is an experience that you will cherish for a lifetime. From witnessing the harvest season to attending Baisakhi Melas and experiencing traditional dance performances, there’s a lot that you can do during the festival. So, pack your bags and head to Punjab to celebrate the festival of Baisakhi in style!

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Mercedes launches AMG GT 63 S E Performance in India after witnessing 107% growth in Q1 2023

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

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Mercedes Benz India on Tuesday launched AMG GT 63 S E Performance, its most powerful production car ever, at Rs 3.3 crore (ex-showroom). Santosh Iyer, MD and CEO of Mercedes Benz India, in an interview with CNBCtv18, said that this is the second AMG launch of this year and the company plans to continue to excite customers in the top-end segment.

“Mercedes Benz had the best year in terms of sales and revenue last year and hopes to improve this performance this year as well. The company has plans to launch 10 new cars this year out of which two cars have already been launched,” Iyer added.

Interestingly, Mercedes Benz’s first plug-in hybrid electric vehicle (PHEV) AMG GT 63 S E Performance is also the second AMG that has been launched in India this year. The company said the new car is inspired by its F1 technology.

Out of the eight new cars that are in the launch pipeline, 50 percent will be in the top-end segment, Iyer said. “Mercedes is seeing a huge demand for its cars over Rs 1 crore bracket and last year this segment grew by over 100 percent. The company hopes to have a stellar performance in the new financial year and is hopeful of clearing its pending deliveries.”

Mercedes-Benz further said that it has managed to sell 16,497 units in FY23, growing at 37 percent as against 12,071 units in FY22. The company added that it has recorded its ‘Best ever Q1’ with 4,697 new cars delivered in Q1 2023, a growth of 17 percent as compared to 4,022 units in Q1 2022.

The luxury carmaker also said that its top-end vehicles witnessed 107 percent growth in Q1 2023 and has successfully reduced the waiting period for its models.

The current waiting period for Mercedes’ entry-level cars like A-Class, C-Class, and E-Class stands between 0-3 months, while for GLE, GLS and S-Class are around 2- 6 months.

Mercedes AMG–GT 63 S E Performance design and features

The Mercedes-AMG GT 63 S E-Performance is a big four-door sedan with a long bonnet and a swooping roofline. The car also gets an aggressive AMG face, a sleek rear fascia with slim LED headlights and a retractable spoiler. The flared wheel arches house massive dual-tone alloy wheels.

Inside, the AMG GT 63 S E-Performance comes with the brand’s latest 3-spoke steering wheel and a dual-screen setup featuring two 12.3-inch displays. Besides the AMG-specific steering wheel, it also gets sports seats and sportier interior trim.

Mercedes AMG–GT 63 S E Performance powertrain

At the heart of the AMG GT 63 S E-Performance is a 4.0-litre twin-turbo V8, paired with an electric motor mounted on the rear axle. The total output is 831 BHP and 1,470 Nm.

The car is equipped with a 6.1 kWh battery, which enables it to run in the pure-EV mode for 12 km at up to 130 km/h. Mercedes also claims that the AMG GT 63 S E-Performance can sprint from 0-100 km/h in 2.9 seconds and has a top speed of 316 km/h.

The company recently launched a fully equipped AMG Edition 1 that will be available for a limited period in select markets. This limited-time Edition 1 comes with exclusive specifications and elements such as the MANUFAKTUR alpine grey uni paintwork, 21-inch AMG forged wheels in cross-spoke design and seat covers padded with exclusive AMG Nappa leather with contrasting red topstitching.

Read more: Mercedes-Benz India launches AMG GT 63 S E Performance, its most powerful production car ever

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

Tiger Global sells 1.6% stake in Delhivery for Rs 388 crore

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

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After offloading 1.7 percent stake in February and another 0.75 percent in March, Internet Fund III Pte Ltd, the venture capital fund managed by US-based investment management company Tiger Global Management, on Tuesday sold additional 1.18 crore shares of Delhivery for 388 crore through bulk deal on BSE.

Shares were sold at an average price of Rs 330 on BSE. However, the buyers were not immediately known. As of December 2022, Internet Fund III Pte Ltd held 4.68 percent in the logistic services provider.

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The stock of Delhivery has more than halved from its peak seen in July last year, amid sell-off in the new-age technology companies globally due to sky-high valuations. Even though analyst have turned bullish on the company in recent months, PE investors continued to trim their exposure in the logistic provider. Earlier in March, Japanese technology giant Softbank had also divested 3.8 percent stake in Delhivery for Rs 954 crore through open market transactions.

Delhivery, which has been reporting losses for the last four years has managed to narrow down its losses in the last quarter. The company reported a net loss of Rs 196 crore for the three months ended December 2022 against Rs 254 crore posted in September 2022 and Rs 399 crore in Q1FY23. Of the 19 analysts who track the stock on Bloomberg, 68 percent have a “Buy” rating on the stock. While 21 percent of them recommend “Hold”, only 11 percent suggest “sell”.

Shares of Delhivery closed 0.82 percent higher at Rs 330.80 on the BSE whereas the benchmark Sensex rose 0.5 percent to end the session at 60,157.72 points.

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New IT rules spark concerns over freedom of speech and press freedom

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

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New IT Rules allowing the Ministry of Electronics & IT to set up a fact-checking unit to identify fake or misleading content online has led to concerns among journalists and internet freedom activists.

The fact-checking unit has the power to issue take-down orders and bypass the checks and balances prescribed in Section 69A of the IT Act. If social media intermediaries or telecom service providers violate the rules by hosting, displaying or uploading false content, they can lose the safe harbour immunity.

However, the Internet Freedom Foundation has expressed concerns about the chilling effect these rules will have on the right to free speech and expression. They have argued that no precedent exists of any other government setting up a fact-checking unit, and the government should have consulted with media organisations before announcing the new IT rules.

Similarly, the Editors Guild has said they are deeply disturbed by the amendment and believe that it will impact press freedom. The News Broadcasters & Digital Association has also expressed concerns that the government has the power to designate the fact-checking unit as the adjudicator of truth.

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Experts have also weighed in on the issue, with Nikhil Pahwa of Medianama saying that the new rules could directly impact the reach of news articles online. “It impacts the persistence online and they can even ask Google to take it off their search links. So if the article is not visible, it does not exists online. So that is the power the government gets with this,” he added.

He also argued that the government has no basis to regulate gaming with these IT rules. He further added that once the Digital India Act comes into play, it will legitimise these rules, which are currently preceding the law. He believes that the government should scrap these rules since they are illegal and there is no point in having processes in parliament if they keep bypassing them.

Prateek Waghre of the Internet Freedom Foundation also expressed his concerns about the inadequate consultations with journalists and internet freedom activists before introducing these new IT rules.

Senior journalist N Ram believes that this is a clear attempt at censorship, and expressed his disagreement. “Media organisations were certainly not consulted about these rules. However this is completely unacceptable. There was an attempt earlier, there was a proposal where Press Information Bureau was going to do it. They already have a so called fact check function but it goes against every principle of fact checking,” he said.

On the other hand, Rajeev Chandrasekhar, the MoS MeitY, says the move is aimed solely at safeguarding citizens, and there are no sweeping or draconian powers. The fact-checking unit is supposed to identify false or misleading online content connected to any aspect of the central government, and if they identify any information as fake, social media intermediaries and telecom service providers must inform users not to host, display, or upload that content.

As of now, the IT rules have created a divide between internet freedom activists and media organisations. While the government claims that the move is aimed at safeguarding citizens, critics believe that it is a clear attempt at censorship and will impact press freedom.

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Reliance Capital second auction postponed to April 26

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

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Lenders of debt-ridden Reliance Capital (RCap) have decided to extend the date for the second round of auctions to April 26 from April 11 after consultation between lenders and suitors, sources privy to the developments told CNBC-TV18.

Suitors had sought certain tweaks in the terms of the request for resolution plan (RFRP) to ensure compliance of resolution plans with the Insolvency and Bankruptcy Code (IBC), said people familiar with the matter.

According to multiple people familiar with the development, lenders and suitors have been negotiating payment terms and the force majeure clause among other items to come to an agreement on bid terms,

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Also, lenders are hopeful of Torrent Investments, Hinduja Group’s IIHL, and Oaktree Capital participating in the bidding, while the Piramal-Cosmea Financial consortium is unlikely to participate, sources in the know told CNBC-TV18.

For a fresh round of bidding, the lenders decided to set the base bid at Rs 9,500 crore on a net present value basis, with a minimum cash component of Rs 8,000 crore.

The deadline to complete the resolution process of Reliance Capital has been extended multiple times in the past. This bidding post-auction is being contested by Torrent Investment in the Supreme Court as it was the highest bidder as per the auction.

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The Reserve Bank of India (RBI) on November 29, 2021, superseded the board of Reliance Capital in view of payment defaults and serious governance issues. The RBI appointed Nageswara Rao Y as the administrator in relation to the Corporate Insolvency Resolution Process (CIRP) of the firm.

Reliance Capital is the third large non-banking financial company (NBFC) against which the central bank has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC). The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).

The central bank subsequently filed an application for initiation of CIRP against the company at the Mumbai bench of the National Company Law Tribunal. In February last year, the RBI-appointed administrator invited expressions of interest for the sale of Reliance Capital.

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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

Armenian, Azerbaijani soldiers killed in firefight around contested Nagorno-Karabkah region

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

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South Caucasus rivals Armenia and Azerbaijan on Tuesday accused each other of opening fire around the contested Nagorno-Karabkah region in a clash that resulted in deaths on both sides.

Defence ministries from both countries issued statements on Tuesday afternoon saying an unspecified number of their own troops had been killed in a clash close to the contested Lachin Corridor.

The two South Caucasus countries – both formerly part of the Soviet Union – have fought multiple wars over the last 35 years for control of Nagorno-Karabakh, which is internationally recognised as part of Azerbaijan but home to a mainly ethnic Armenian population.

In a statement, Armenia’s defence ministry said Azerbaijani troops opened fire at around 4 p.m. (1200 GMT) against Armenian troops who were performing engineering work near the village of Tegh in Armenia’s southern Syunik province. It said its forces had taken “countermeasures”, without providing details.

Tegh is not located in the disputed territory, but is the last village in Armenian territory on a key road route linking Armenia to Nagorno-Karabakh.

Azerbaijan’s defence ministry said its troops came under “intense fire” from Armenian troops stationed in the Syunik province.

Both sides said they had suffered fatalities, but did not provide details.

The latest stand-off between the two bitter rivals has come over control of the Lachin Corridor – the only road route linking Armenia to Nagorno-Karabakh. Azerbaijanis claiming to be environmental protesters have been blocking the route since the end of last year, resulting in what Armenia has called a humanitarian crisis as food and medicine have been unable to be transported into the region.

Baku denies those claims, says essential supplies can get into the territory and has defended the protesters as rallying against legitimate environmental concerns. Yerevan has called them government-backed agitators.

Russia dispatched a thousands-strong peacekeeping contingent to the region in 2020 as part of a deal to end weeks of fighting that killed thousands and saw Azerbaijan make significant territorial gains. Moscow is an ally of Armenia through a mutual self-defence pact, but also strives for good relations with Baku. The latest stand-off has been seen as a key test of Moscow’s ongoing influence in the region as it wages its own war in Ukraine.

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

RBI issues framework for acceptance of green deposits by banks, NBFCs

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

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Reserve Bank of India on Tuesday issued detailed guidelines for acceptance of ‘green deposits’ by banks and NBFCs wherein the funds could be used for financing activities like renewable energy, green transport and green buildings.

Climate change has been recognised as one of the most critical challenges and globally, various efforts have been taken to reduce emissions as well as promote sustainability.

The financial sector can play a pivotal role in mobilising resources and their allocation thereof in green activities/projects. Green finance is also progressively gaining traction in India, RBI said as it issued the framework for acceptance of green deposits by regulated entities.

Some Regulated Entities (REs) are already offering green deposits for financing green activities and projects.

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The framework will come into effect from June 1, 2023.

The purpose and rationale for the framework, RBI said is to encourage REs to “offer green deposits to customers, protect interest of the depositors, aid customers to achieve their sustainability agenda, address greenwashing concerns and help augment the flow of credit to green activities/projects”.

Further, the central bank said the allocation of proceeds raised from green deposits should be based on the official Indian green taxonomy.

Pending finalisation of the taxonomy, as an interim measure, REs would be required to allocate the proceeds raised through green deposits towards a specified list of green activities/projects.

The projects must encourage energy efficiency in resource utilisation, reduce carbon emissions and greenhouse gases, promote climate resilience and/or adaptation and value and improve natural ecosystems and biodiversity.

Renewable energy, energy efficiency, clean transportation, climate change adaptation, sustainable water and waste management, and green buildings, are among the list of projects/activities where REs could allocate the proceeds raised through green deposits.

RBI has also mentioned about a list of ‘exclusions’ for REs. This includes projects involving new or existing extraction, production and distribution of fossil fuels; nuclear power generation; and direct waste incineration.

Banks and NBFCs will have to put in place a comprehensive board-approved policy on green deposits.

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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

Manchester United to accept third round bids ahead of potential sale: Report

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

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Manchester United will accept a third round of bids from prospective buyers at the end of the month as the Premier League club’s owners explore a sale, sports industry news site Sportico reported on Tuesday.

Manchester United and Raine Group, the investment bank running the bidding process, did not immediately respond to a Reuters request for comment.

United’s American owners, the Glazer family, launched a formal sale process late last year, with several bids received in February and March.

British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, Sheikh Jassim Bin Hamad Al Thani, the son of Qatar’s former prime minister, and Finnish businessman Thomas Zilliacus are among the bidders for the club.

Any sale would likely exceed the biggest sports deal so far, the $5.2 billion including debt and investments paid for Chelsea.

United are the fourth-richest soccer club in the world, according to Deloitte. They are widely seen as one of the most prized assets in all of sport.

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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

Amul chief Jayen Mehta says no merger with Karnataka’s Nandini, to sell milk and curd online only in Bengaluru

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

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Jayen Mehta, head of the Gujarat-based cooperative selling Amul brand, on Tuesday said there is no competition with Karnataka Milk Federation’s (KMF) Nandini and that it will sell milk and curd only through online channels in Bengaluru.

“GCMMF will sell its Amul products only through e-commerce platforms and there is absolutely no plan of full-fledge entry into Karnataka,” he told PTI.

Both the main opposition parties in the state, Congress and the JD(S), have trained their guns at the ruling BJP in the state expressing fears that the Rs 21,000 crore brand could be merged with Amul.

“There is no question of merger. Both are cooperatives. Amul is owned by farmers of Gujarat and Nandini is owned by farmers of Karnataka. Both of us have been working together not from now but since decades to build India’s cooperative dairy industry. This has made India the largest producer of milk in the world,” Mehta said.

Mehta also asserted that there cannot be “Amul versus Nandini” scenario as both are co-operatives owned by farmers. Nandini products are much cheaper due to the state government subsidy. As per Mehta, Amul milk is Rs 54 per litre while Nandini milk is Rs 39 per litre.

Amul is caught in the political row over market place battle with popular Karnataka brand Nandini.

-With inputs from PTI

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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

Sony announces new wireless headphones in India at Rs 4,490

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

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Sony India on Tuesday announced the launch of its latest on-ear wireless WH-CH520 headphones.

The WH-CH520 headphones boast a longer battery life than previous models, offering up to 35 hours with Noise Cancelling and 50 hours without Noise Cancelling with quick charging, as per Sony. A three-minute charge gives up to 1 hour of playback, the company claims. The headphones also come with Multipoint connection, which allows users to quickly switch between two devices at once.

Further improvements include Digital Sound Enhancement Engine (DSEE) Ultimate, which upscales music for improved sound quality. The headphones are also designed for all-day use, with adjustable headbands, padding, soft earpads, and a lightweight design.

The built-in microphone allows for hands-free calling. Beamforming microphones with Precise Voice Pickup technology can accurately pick up users’ voices, while a wind noise reduction structure around the microphones reduces background noise. The headphones also support Fast Pair and Swift Pair, enabling users to connect them easily to their Android device or Windows 10 computer via Bluetooth.

The WH-CH520 headphones are available for Rs 4,490 across Sony retail stores, the www.ShopatSC.com portal, major electronic stores, and other e-commerce websites in India from April 11.

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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