New Delhi: Taxi aggregator Ola Cabs urged a person not to discriminate on religious lines after the latter cancelled his ride as the driver was a Muslim.
Replying to one Abhishek Mishra, who is followed by some Union cabinet ministers on Twitter, the company said, “Ola, like our country, is a secular platform, and we don’t discriminate our driver partners or customers basis their caste, religion, gender or creed. We urge all our customers and driver partners to treat each other with respect at all times.”
In a tweet on Friday, Mishra, whose verified Twitter account says Vishwa Hindu Parishad, Ideology First, Hindutva Thinker, Digital & Social Media Advisor (Views Personal), said, “Cancelled @Olacabs Booking because Driver was Muslim. I don’t want to give my money to Jihadi People.”
He attached a screenshot of his Ola booking which named the cab driver.
This started a Twitter firestorm with many demanded the Ola to block his account. However, there were many who supported Mishra’s ‘right to choose’.
A few other Twitter users too posted tweets in his defence, describing his move as “freedom of expression” and shared screenshots of similar discrimination by other social media users.
On Sunday, Mishra posted a screenshot of a mail sent to him allegedly by the micro-blogging site, and said, “Thanks to @Twitter and it’s a tight slap on the faces those trying to suspend my account.”
However, Mishra criticised Facebook for deleting his post and said, “Facebook tried to suppress my voice. alas such an effort should have also be done with Reshmi R Nair and Abid Hasan. Facing opposition for speaking about Hindus but those who stand with me is my real strength.”
Mishra’s Facebook profile says he is from Ayodhya and works as an IT professional in Lucknow.
He claims he is an active member of the Vishwa Hindu Parishad and Bajrang Dal — both affiliates of the BJP’s ideological mentor Rashtriya Swayamsevak Sangh — and “holds responsibility” of the IT cell of the VHP.
MPC to meet six times during 2019-20: RBI
Mumbai: The Monetary Policy Committee (MPC), which decides on key interest rates, will meet six times during the next financial year, the Reserve Bank of India (RBI) said.
The first meeting of the six-member MPC to decide on the first bi-monthly monetary policy statement for 2019-20 will be held from April 2 to 4.
The policy will be announced on April 4. Headed by RBI Governor Shaktikanta Das, the committee also includes two representatives from the central bank and three external members.
The external members are Indian Statistical Institute professor Chetan Ghate, Delhi School of Economics Director Pami Dua and Indian Institute of Management-Ahmedabad professor Ravindra H Dholakia.
According to the schedule provided by the RBI, the second meeting of the MPC in the next fiscal will be held on June 3, 4 and 6; third meeting (August 5-7); fourth meeting (October 1, 3 and 4); fifth meeting (December 3-5) and sixth meeting (February 4-6, 2020).
SBI raises Rs 1,251 crore by issuing Basel III-compliant bonds
New Delhi: The country’s largest lender State Bank of India (SBI) said it has raised Rs 1,251.30 crore by issuing Basel III-compliant bonds.
“The Committee of Directors for Capital Raising at its meeting held today on 22 March 2019 deliberated and accorded approval to allot 12,513 non-convertible, taxable, perpetual, subordinated, unsecured Basel lll-compliant additional tier-I bonds, for inclusion in additional tier-I capital of the bank…aggregating to Rs 1,251.30 crore,” SBI said in a regulatory filing.
The bonds with a face value of Rs 10 lakh each bears a coupon rate of 9.45 per cent per anum payable annually with call option after 5 years or any anniversary date thereafter, it said. The bonds were subscribed on Friday, it added.
State Bank of India (SBI) also said the central board of the bank at its meeting held has accorded its approval for extension of validity period for raising equity capital of up to Rs 20,000 crore from market by way of follow-on public offer, qualified institutional placement, preferential allotment, rights issue or any other mode or a combination of these till March 31, 2020.
Sebi fines 4 entities Rs 27 lakh for fraudulent trading in BSE stock options
New Delhi: Markets regulator Sebi imposed a total penalty of Rs 27 lakh on four entities for indulging in fraudulent trade in illiquid stock options segment of BSE.
Umapati Oil Mill and Ginning Factory, Yudhbir Chhibbar, Kasturbhai Mayabhai Pvt Ltd and Vimladevi Shyamsunder Khetan are the four entities, according to Sebi’s separate orders.
fter observing a large-scale reversal of trades in the BSE’s illiquid stock options segment, Sebi conducted a probe from April 2014 to September 2015.
Following the probe, the regulator found that the trades executed by the entities were not genuine as they were reversed within few seconds with same counter parties with significant difference in price, resulting in profit to the entities.
Securities and Exchange Board of India (Sebi) said it was a deliberate attempt to deal in such a fashion and not a mere coincidence.
The trades executed by the entities were not genuine and created an appearance of artificial trading volumes, thereby violating PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations, Sebi noted.
Accordingly, a fine of Rs 8.7 lakh and Rs 8.4 lakh were imposed on Yudhbir Chhibbar and Vimladevi, respectively while a penalty of Rs 5 lakh each was levied on Umapati Oil Mill and Kasturbhai Mayabhai Pvt Ltd, totalling Rs 27.1 lakh.
In a separate order, Sebi imposed a total fine of Rs 6 lakh on four promoters of Artech Power Products for delayed disclosures to exchanges regarding their change in the shareholding in the company.
Ranjith Vijayan, I V Vijayan, Repsy Vijayan and Resmi Vijayan are the four promoters, according to Sebi’s order.
The promoters have deprived the vital information to the public by non-disclosure /delayed disclosure as mandated by the Takeover Regulations, Sebi noted.