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Cyclone Nivar slams into southern India causing five deaths
Heavy rains from the storm caused flooding in some streets of the city of Chennai, Tamil Nadu’s largest city which is home to many large automobile manufacturers, according to a Reuters witness.
The storm caused at least five deaths in and around Chennai from trees falling, drowning and electrocution, the Times of India reported.
Asset base, subscribers under NPS rising: PFRDA
So far, nearly 8,200 corporations have registered with the NPS, while many CPSUs are also migrating to this system, the PFRDA chairman added.
Nivar makes landfall, weakens into severe cyclonic storm
There were no reports of loss of life due to the cyclone which uprooted trees. Incidents of wall collapse were reported from some parts of Tamil Nadu, state Revenue Minister R B Udhayakumar said.
Bank operations may be hit by unions’ one-day nationwide strike on Thursday
“Lok Sabha in its recently held session has passed three new labour enactments by dismantling existing 27 enactments in the name of ‘Ease of Business’, which are purely in the interest of corporates.
“In the process, 75 per cent of workers are being pushed out of the orbits of labour laws since they will have no legal protection under the new enactment,” the AIBEA said in a release.
Sebi eases surveillance steps implemented to curb Covid-induced volatility
The surveillance measures, announced in March, are in force till November 26. They are aimed at ensuring orderly trading and settlement, effective risk management, price discovery and maintenance of market integrity.
Among the measures, the watchdog had increased the margin requirement for non-F&O stocks in cash market and revised Market Wide Position Limit (MWPL) from 95 per cent to 50 per cent of existing levels in a phased manner.
On Wednesday, Sebi said these two measures would be relaxed with effect from close of business on November 26.
India’s COVID-19 caseload goes past 92 lakh; no. of active cases increases by 6,079
The number of people who have recuperated from the disease surged to 86,42,771, pushing the national recovery rate to 93.72 per cent, while the COVID-19 case fatality rate stands at 1.46 per cent.
MHA guidelines: Local restrictions like night curfew allowed; Prior consultation with Centre needed for any lockdown outside containment zones
The state and UT governments will take all necessary measures to promote COVID-19 appropriate behaviour and to ensure strict enforcement of wearing of face masks, hand hygiene and social distancing. In order to enforce the core requirement of wearing of face masks, authorities may consider administrative actions, including the imposition of appropriate fines, on persons not wearing face masks in public and workspaces.
Lakshmi Vilas Bank-DBIL merger effective from Nov 27: RBI
Depositors of LVB will be able to operate their accounts as customers of DBS Bank India with effect from Friday.
“Consequently the moratorium on the Lakshmi Vilas Bank Ltd. will cease to be operative from that date,” it said.
Indian govt to invest $812 million in NIIF
Javadekar also said that the AIFL will predominantly focus on under construction, greenfield, brownfield assets with less than one year of operations whereas NIIF IFL will operate as a take-out vehicle for mature operating assets.
It is expected that well-capitalized, well-funded and well-governed NIIF debt Platform can play a major role in infrastructure financing and development of Bond Market in India by acting as a AAA/AA-rated intermediary between the bond markets and infrastructure projects and companies.
Cyclone Nivar: Chennai airport to remain closed till Thursday morning
“As a measure of safety and precaution, the Chennai Airport has been temporarily closed from 1900 to 0700 hrs IST due to the bad weather conditions caused by Cyclone Nivar. Due coordination was done with all stakeholders,” the Civil Aviation Ministry said on Twitter.