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<keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> is aiming at developing standard operating procedures for <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword> during its <keyword id="4709730" type="General" weightage="20" keywordseo="G20-presidency" source="Orion">G20 presidency</keyword> next year, <keyword id="7706673" type="General" weightage="20" keywordseo="Finance-Minister-Nirmala-Sitharaman" source="Orion">Finance Minister Nirmala Sitharaman</keyword> has said, underlining that all countries want the technology to survive but not be misutilised. “That (crypto) will also be part of India's thing (agenda during G-20 presidency),” Sitharaman told a group of Indian reporters on Saturday before concluding her trip to Washington DC to attend the annual meetings of the International Monetary Fund and the World Bank. India will assume the Presidency of the G20 for one year from December 1, 2022 to November 30, 2023. Under its Presidency, India is expected to host over 200 G20 meetings across the country, beginning December 2022. Sitharaman has been making a strong case for global regulation of cryptocurrencies to tackle the risks on money laundering and terror funding. Noting that institutions, which are associated with the G-20 or the World Bank or any such organisation, are doing their own assessment and studies of matters related to cryptocurrencies or crypto assets, the minister said, “We would definitely want to collate all this and do a bit of study and then bring it on to the table of the G-20 so that members can discuss it and hopefully arrive at a framework or SOP, so that globally, countries can have a technology driven regulatory framework." The G20 is an intergovernmental forum comprising 19 countries and the European Union. It works to address major issues related to the global economy, such as international financial stability, climate change mitigation, and sustainable development. Sitharaman underlined that no one single country can effectively handle or regulate crypto in any form. “But implicit in this is that we don't want the technology to be disturbed. We want the technology to survive and also be in a position for the FinTech and other sectors to benefit from it. “But if it is a question of platforms, trading on assets which have been created, buying and selling making profits and more importantly in all these are countries in a position to understand the money trade, are we in a position to establish for what purpose it's being used?” Sitharaman asked. She gave the example of the Enforcement Directorate (ED) detecting substantial money laundering, probably cases related to crypto assets and trading of assets, recently in India. “This concern has been actually acknowledged by several members of the G20 saying yes money trail, yes money laundering, yes drug misuse, and so on. There is an understanding that we need to have some kind of regulation, and that all the countries will have to be true together on it, no one country is going to be able to singularly handle it. So on that we will certainly have something,” Sitharaman said. In July, Sitharaman said the Reserve Bank of India (RBI) has expressed concerns over cryptocurrencies, saying that they should be prohibited as they can have a destabilising effect on the monetary and fiscal stability. "In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended framing of legislation on this sector. The RBI is of the view that cryptocurrencies should be prohibited," she said in a written reply to the Lok Sabha. The RBI has mentioned that cryptocurrencies are not a currency because every modern currency needs to be issued by the central bank or the government, she told Parliament. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/imf-chief-warns-of-risk-of-geopolitical-fragmentation/articleshow/94883161.cms" style="">IMF chief warns of risk of geopolitical fragmentation</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/us-offer-to-help-india-in-chip-manufacturing-just-lip-service-china/articleshow/94882797.cms" style="">US offer to help India in chip manufacturing just lip service: China</a>

India aims to develop SOPs for cryptocurrency during G20 presidency: Sitharaman

<ul><li><keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> market cap crossed ₹1 trillion mark ($13 billion) when the Indian exchanges opened on December 29. </li><li>This makes it India’s second most valuable auto company after Maruti Suzuki. </li><li>The government announced a ₹2 lakh crore production-linked manufacturing scheme in November, of which the auto sector is poised to receive incentives worth ₹57,000 crore over five years. Brokerages believe Bajaj Auto could be a potential beneficiary. </li><li>So far in this fiscal year, the Bajaj Auto stock has gained over 70% of its value. And analysts believe that there is more room for a rally ahead. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/" data-type="tilCustomLink">Business Insider</a>. </li></ul>Bajaj Auto crossed a new milestone as its market capitalisation crossed ₹1 trillion mark ($13 billion) when the Indian exchanges opened on December 29, strengthening its place in the elite club as India’s second most valuable auto company after Maruti Suzuki. However, the euphoria was short-lived. By afternoon trade, the stock dipped nearly 0.42% to ₹3,442 from an all-time high of ₹3,459. This has brought its valuation back down to ₹996.02 billion. <div type="image" title="Bajaj Auto share" msid="80007875" hostid="261"></div> While Mahindra &amp; Mahindra Ltd, and Tata Motors have also achieved the milestone earlier — they are still some way behind Bajaj Auto for now. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market Cap </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.25 trillion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹993 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹607 billion </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹841 billion </td></tr></tbody></table>*Market cap value as of 1:30 pm on December 29 So far in this fiscal year, the Bajaj Auto stock has gained over 70% in value, and analysts believe that there is more room for rally ahead. A significant spike in its rally came in the past one week led by various developments, including its recent pact with the Maharashtra government to set up a ₹650 crore manufacturing unit in Chakan. The automaker also filed for a <a href="https://www.news18.com/news/auto/bajaj-auto-purchases-intellectual-property-rights-of-american-motorcycle-brand-excelsior-henderson-3222104.html">trademark for the Excelsior-Henderson name</a> in Europe, hinting at a possible entry in the retro-motorcycle segment. In November this year, the government announced a ₹2 lakh crore production-linked manufacturing scheme to encourage various industries to boost local manufacturing and boost exports. The auto sector is poised to receive subsidies worth ₹57,000 crore; and Bajaj Auto could be a likely beneficiary of this scheme. This has been a tough year for the automotive sector as well with the pandemic-led lockdown. However, domestic volumes have been on steady mend in the months' post lifting of the restrictions and sales have seen some uptick as well. Here’s why analysts believe Bajaj Auto is still an attractive bet A potential beneficiary of Production-Linked Incentive (PLI) scheme Bajaj Auto can be a potential beneficiary of the recently announced PLI scheme for the auto sector given its positioning as India’s leading exporter. The PLI scheme includes incentives of ₹57,000 crore over five years and focuses on making Indian companies globally competitive by driving exports. In FY20, nearly 40% of Bajaj revenues came from auto exports, and the company accounts for 4% of the total exports in the Indian auto industry, according to the Nomura report dated December 28. It also pointed out that the eligibility criteria are likely to be such that companies with high export revenue could be the key beneficiaries. Bajaj Auto and peers like TVS Motor, Ashok Leyland, and others are likely to meet the eligibility requirements. It is pertinent to note that Nomura has assumed the benefits under the Merchandise Exports from India Scheme (MEIS) to continue until FY22. <div type="image" title="Exports" msid="80007846" hostid="261"></div> Morgan Stanley too expects Bajaj Auto’s <a href="https://www.cnbctv18.com/videos/auto/auto-sector-pli-large-exporters-like-bajaj-tvs-bharat-forge-may-gain-7684291.htm">FY22 EBITDA to increase by 5-7</a>%, given the push from PLI scheme. However, we still await for more details from the government on the eligibility criteria to understand who makes the cut and the quantum of incentives that the auto players will receive. Strong recovery in international markets and rupee depreciation benefits Bajaj Auto is witnessing a faster recovery in key international markets of Africa, Latin America and others. Being the largest exporter in the three-wheeler category, the company is deemed to grow, according to ICICI Securities report dated December 16. Bajaj Auto has also been a beneficiary of rupee depreciation, with reported operating margins at industry-leading levels. “With urban economic activity gaining traction, recent demand challenges faced by the higher-margin 3-W segment on account of apprehensions over social distancing are likely to fade away leading to a sharp rebound in 3-W sales volume, going forward,” the report said. Investors ready to pay more for its shares According to ICICI Securities, Bajaj P/E stood at 18.6 as of FY20 and is expected to grow to 22.9 by FY 21. Price-to-earnings (P/E) ratio is a metric used to value businesses, and it shows how much an investor is willing to pay for a share in future profit. It rises when the profits are more certain and are likely to be high. Higher the P/E ratio, more valuable the company is. It is usually very high, sometimes as high as 70, for auto giants like Maruti or M&amp;M. Here’s what the top brokerages recommend <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3500 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3920 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3500 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nomura </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3437 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Bajaj Auto has gone from $7 billion to $13 billion in market value — and is now hoping for export sops

Leading blockchain and cryptocurrency platform Binance on Friday announced that it has temporarily suspended all spot trading on its platform as it works to resolve an issue. "We are aware of an issue impacting spot trading on Binance. All spot trading is currently temporarily suspended as we work to resolve this as soon as possible. New updates will be shared here," the company tweeted. Moreover, the CEO of Binance, <keyword id="6222251" type="General" weightage="20" keywordseo="Changpeng-Zhao" source="Orion">Changpeng Zhao</keyword> from his Twitter account @cz_binance shared an update saying that the <keyword id="6286377" type="General" weightage="20" keywordseo="crypto-exchange" source="Orion">crypto exchange</keyword> "encountered a bug on a trailing stop order". "Initial analysis indicates matching engine encountered a bug on a trailing stop order (a weird one)," Zhao tweeted. "Recovering. Est 30-120 min ish. Waiting for more precise ETA. Deposits &amp; withdrawals are paused as a SOP (standard operating procedure). Funds are #SAFU," he added. Binance commands over 60 per cent of all crypto spot volume. According to Arcane Research, the world's largest crypto exchange has also increased its market share of Bitcoin spot volume to over 90 per cent in recent quarters, because of zero commission.

Crypto exchange Binance temporarily suspends all spot trading

Twenty seven years on, <keyword id="15271772" type="General" weightage="20" keywordseo="horrifying-memories" source="Orion">horrifying memories</keyword> linger on... Meet Chutni Devi from <keyword id="6360371" type="General" weightage="20" keywordseo="jharkhand" source="Orion">Jharkhand</keyword>'s Beerbans village in Saraikela-Kharsawan district, who faced extreme atrocities after being branded as witch in 1995. Whenever she recalls the atrocities on her, tears start rolling down her cheeks. When the daughter of a neighbour fell ill, Chutni was blamed for that and branded as witch. Panchayat imposed a fine of Rs 500 on her and charged that she wanted to kill the neighbour's daughter. Chutni gave the fine but when the neighbour's daughter didn't recover from illness, on the very next day, a group of 40 to 50 people attacked her house. She was dragged out of the house, mercilessly beaten, urnine and feces were thrown at her and she was stripped too. After the horrifying experience, Chutni started working for the uplift of women and the fight against the superstition. She has given a respectable life to 150 women who were branded as <keyword id="107265" type="General" weightage="20" keywordseo="witches" source="Orion">witches</keyword>. Chutni's campaign is still continuing but the roots of evil are so deep in Jharkhand that such incidents continue even today. She was conferred with the fourth highest civilian award Padma Shri in 2021 by the then President Ram Nath Kovind for rescuing and helping hundreds of women who have been facing atrocities over the years. However, the question is what has changed in Jharkhand in this context . Chutni Devi answers that atrocities in the name of branding women as witches have not stopped in the state. It is not merely based on superstition but also due to personal enmity and conspiracy to grab their property. On September 3, three women were killed after branding them as witch in Ranadih village in Sonahatu police station area, 50 km from Ranchi. These women were blamed for the death of two youths who died in two days one after another due to snakebite. Most shocking thing is that the mob which killed these women also had a son of one of them. On September 24, four people, including three women, were killed in the name of black magic and witchcraft in Aswari village in Jharkhand's sub capital Dumka. They were forced to have urine and feces and beaten with hot iron rods. The victims spent the night in deep pain but none of them had the courage to report about the incident to police or reveal it to anyone else. When the police got to know about the incident, the victims were admitted to hospital. Earlier, a Panchayat meeting was held in the village in which it was said Srilal Murmu and women in his family were practicing black magic due to which children and livestock in the village were unwell. After that around 12 people, with sticks and weapons attacked Murmu's house. On October 8, in Ranchi's Tupudana, a 65-year-old woman was killed after branding her as a witch. In 2022, 26 people have been killed, of which more than 95 per cent are women. In the past seven years, on an average 35 women are killed in the name of witchcraft every year. According to Criminal Investigation Department (CID), in 2015, 46 women were killed after branding them as witch, 39 in 2016, 42 in 2017, 25 in 2018, 27 in 2019, 28 in 2020 and 22 in 2021. In seven and a half years , more than 250 people have been killed. In cases of harassment after branding a woman as witch, police have registered 4,556 cases in between the year 2015 to 2020. Official figures for cases between 2021-2022 are not available. It is estimated that since 2015, over 5,000 cases have been reported till date, which means that every day two to three cases are recorded. Jharkhand, which was carved out of Bihar in 2000, records three incidents of witch hunt violence per day and at least 1,050 people have been murdered due to the superstition in the past 23 years. Chandoshree, who has been associated with social organisations and NGOs, said superstition and illiteracy are main reasons behind the witch-hunt but at times it is done with the ulterior motive of grabbing the properties of widow and helpless women. They are branded as witch for people's illness and death, even death of animals. Jharkhand High Court advocate Yogendra Yadav told IANS that 30 to 40 per cent incidents of witch violence do not even reach police. Most of the victims, mainly women do not even report it due to fear of the outlaws and social stigma. Most of the harassment is faced at the hands of family and such incidents are reported when all limits are crossed. The need of the hour is to make the law stricter, fast track courts for early disposal of such cases and intensifying campaign to spread awareness about the witch-hunt. In 2021, the state brought in Witchcraft Prevention Act but the increasing number of such incidents need a review of the law. As per Jharkhand Chief Minister's portal, to eradicate the malpractice of witch hunt, the state government has been running Garima Pariyojana. Under this programme, an awareness programme is carried out against witch hunt, families of the victims are identified and provided help through Garima Kendras and call centres. Under the first phase, the scheme is covering 342 gram panchayats in 25 blocks of seven districts. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/ukraine-war-casts-shadow-over-goas-tourism-season/articleshow/94891000.cms" style="">Ukraine war casts shadow over Goa's tourism season</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/india-aims-to-develop-sops-for-cryptocurrency-during-g20-presidency-sitharaman/articleshow/94891379.cms" style="">India aims to develop SOPs for cryptocurrency during G20 presidency: Sitharaman</a>

Jharkhand's scary truth: 1,050 women branded witches and murdered in 23 years

Owing to spike in coronavirus cases, the <keyword id="6358126" type="CITY" weightage="20" keywordseo="Himachal-Pradesh">Himachal Pradesh</keyword> government on Friday closed all educational institutions, including <keyword id="48403" type="ORGANIZATION" weightage="20" keywordseo="universities">universities</keyword>, colleges and <keyword id="37180" type="COMPANY" weightage="20" keywordseo="schools">schools</keyword>, except for the classes having their exams, till April 4 with a <keyword id="6354651" type="PERSON" weightage="20" keywordseo="ban">ban</keyword> on the public celebration of the <keyword id="6355460" type="COMPANY" weightage="20" keywordseo="Holi">Holi</keyword> festival. This was decided at a high-level meeting chaired by Chief Minister <keyword id="943824" type="PERSON" weightage="20" keywordseo="Jairam-Thakur">Jairam Thakur</keyword> here. The Chief Minister said schools having residential facilities need not to close their hostels. However, they would have to comply with all the SOPs. He said the teachers and other school and college staff would continue to attend the institutions. Thakur said no government social and cultural events would be organised and gatherings would be restricted to the maximum of 200 for indoor events. Nursing and medical institutions would continue to function as usual. He said congregations and community kitchens in the temples would be banned. However, devotees would be allowed to pay obeisance at the temples. The Chief Minister said there would be no public celebration of Holi. He urged the people to celebrate Holi at their homes with their family members only. SEE ALSO: <a href="https://www.businessinsider.in/politics/elections/news/checkout-the-list-of-bjp-tmc-and-congress-candidate-names-in-first-phase-west-bengal-election/articleshow/81704142.cms">The entire list and exciting facts about the 30 assembly constituencies going to polls in West Bengal on March 27</a> <a href="https://www.businessinsider.in/policy/news/government-mandates-companies-to-disclose-cryptocurrency-holdings-from-april-1/articleshow/81704174.cms">Indian companies will have to disclose cryptocurrency holdings from April 1 – industry insiders welcome decision</a> <a href="https://www.businessinsider.in/stock-market/news/tata-group-stocks-soar-in-trade-as-ratan-tata-prevails-in-the-legal-battle-with-cyrus-mistry-at-indias-supreme-court/articleshow/81703478.cms">All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court</a>

Himachal Pradesh closes all educational institutes including schools, colleges and bans celebration of Holi festival

New Delhi, The <keyword id="141925" type="COMPANY" weightage="20" keywordseo="Kendriya-Vidyalaya-Sangathan">Kendriya Vidyalaya Sangathan</keyword> has resumed <keyword id="6405739" type="UNKNOWN" weightage="20" keywordseo="Classes">classes</keyword> for its schools as per the guidelines issued by the <keyword id="94449" type="COMPANY" weightage="20" keywordseo="Union-Ministry-of-Home-Affairs">Union Ministry of Home Affairs</keyword> (MHA) and <keyword id="176732" type="COMPANY" weightage="20" keywordseo="State-governments">state governments</keyword> across the country. According to data compiled from all the <keyword id="141924" type="COMPANY" weightage="20" keywordseo="Kendriya-Vidyalayas">Kendriya Vidyalayas</keyword> till February 11, an average of 42 per cent of class nine <keyword id="3216" type="ORGANIZATION" weightage="20" keywordseo="students">students</keyword>, 65 per cent of class 10 students, 48 per cent of class 11 students and 67 per cent of class 12 students have physically attended all classes. The Kendriya Vidyalaya Sangathan started opening schools in a phased manner from October 2020. The Union Ministry of Education said these figures are dynamic and trends indicate steady growth every day. The classes for first to eight grades have also been started in some Kendriya Vidyalayas, where state governments have given permission to open schools for junior classes. Kendriya Vidyalaya schools are establishing regular contact with students and parents. Students are being allowed to attend school after prior consent of their parents. Giving information about students coming back to schools on Monday, the Sangathan said, "In view of the coronavirus pandemic, the <keyword id="162487" type="COMPANY" weightage="20" keywordseo="Standard-Operating-Procedures">Standard Operating Procedures</keyword> (SOPs) issued by the state and Central governments are being completely followed in schools. All Kendriya Vidyalayas have been explicitly instructed to ensure adequate safety measures, including maintenance of proper social distancing in classrooms for the students." However, for students who are not coming to schools, provision of online classes is there. Students are also in contact with their teachers through various digital platforms. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-s21-ultra-5g-review-the-best-android-smartphone-yet/articleshow/80913148.cms">Samsung Galaxy S21 Ultra 5G review – the best Android smartphone, yet</a> <a href="https://www.businessinsider.in/business/startups/news/this-startup-helps-you-watch-shows-shop-online-and-access-the-internet-even-without-a-data-connection/articleshow/80918896.cms">This startup helps you watch shows, shop online and access the internet even without a data connection</a> <a href="https://www.businessinsider.in/science/research/news/worlds-oldest-beer-factory-discovered-in-egypt-was-producing-50000-pints-at-a-time/articleshow/80920087.cms">Drink like an Egyptian: Historians discover the world’s oldest beer factory in Egypt</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a>

Kendriya Vidalaya Sangathan resumes classes for 9 to 12 students as per guidelines

<ul><li>Finance Minister Nirmala Sitharaman presented the Union Budget for 2022-23 in Parliament on Tuesday.</li><li>This year's budget is indexed towards startups, MSMEs, infrastructure projects, rural revival, digital payment apps, telecom growth and affordable housing.</li><li>We reached out to digital, media and creative agencies to understand how the increased focus on digitalisation, sustainability, blockchain and push to MSME can impact the ad and marketing industry.</li></ul>Be it the introduction of a Digital University to make education accessible across the country or the proposed launch of a Digital currency by the Reserve Bank of India to the government’s focus on promoting digital payments and fintech, Finance Minister Nirmala Sitharaman made it is clear that digital is the way forward. The Union Budget 2022-23 aims to boost the country's digital infrastructure and enable a cashless economy. The government also announced that it will set up an Animation, Visual Effects, Gaming and Comics (AVGC) promotion task force to give a push to the animation and gaming industry. To facilitate the roll-out of 5G mobile services in India, FM Sitharaman said that Spectrum auctions will be conducted in 2022. This, in turn, will give impetus to Voice, Augmented Reality and Virtual Reality and pave the way for the Metaverse. The Digital Rupee using blockchain will help Indians accept virtual currency and accelerate cryptocurrency exchange in India. Overall, the budget also shows a promise for Electric Vehicle brands, digital payment apps, MSMEs, gaming industry and start-ups. We reached out to digital, media and creative agencies to understand how the increased focus on digitalisation, sustainability and blockchain can impact the advertising and marketing industry. Here’s what they said: Anupriya Acharya, South Asia CEO, Publicis Groupe: The Budget is positive, growth-oriented and with reforms in the right direction. The advent of 5G is sure to transform communications – for our industry it will help creation of better AV, voice and AR/VR experiences. It will also fuel digital payments, streaming entertainment, gaming, e-commerce, tele-medicine etc which in turn will aid more Unicorns! It is also heartening to note that a special Task Force is being set up for AVGC (Animation, Visual Effects, Gaming and Comic) as this will help us build the much needed capacity both for domestic as well as global markets. And then there have been no changes in income-tax slabs for people, which many consumer segments were worried about. This in turn boosts consumer sentiment. From e-passports, to battery swapping for electric vehicles, setting up of optic fiber in the remotest of villages, setting up of a digital university and skilling through an e-portal, the big push is for technology, digital infrastructure and empowerment. Narayan Devanathan, Chief Client Officer, dentsu India: Having gone through the 38-page document of the Finance Minister’s budget speech, I decided to do a search for a couple of words that I thought kept repeating throughout her speech. The words “will be” occurred 110 times in the entire speech. When I narrowed my search to the single word “will,” the number rose to 362. To me, those two words sum up the essence of what this year’s budget is and is not. What it is, is a future-focused budget, aiming at the distant vision of India@100, with a 25-year Amrit Kaal lead-up. What it is not, and what I felt was sorely needed this year of all years, is a present-focused budget. A punishing 2021 for the aam aadmi with more-than-usual expenditure on health and sustenance meant the general populace was looking for immediate relief that would place more cash in their household budgets. That did not happen. Nor was there any extraordinary investment in relieving the healthcare expenditure burden. For all the importance of farmers in upcoming poll-bound states, there was neither major sop nor stimulus given to back the importance of agriculture as a spine if not engine of the economy. Even the MSME sectors were only handed a slightly longer lease of life with the extension of the ECLGS, but there was no real move to stimulate consumption by placing more cash at consumers’ disposal, for example, extending LTA claims to restaurants (and not just accommodation). There is perhaps plenty for the industry to cheer about since it can afford to think about the future and a slightly longer term than just the here and now of survival. The stock market did cheer up even before the FM’s speech, but that only served to underscore the dichotomy between the real health of the population and the Minority of Haves. When the general population probably can’t afford to wait for the benefits of trickle-down economics to reach them in yet another trying year, the dreams and wheels of a consumer-driven economy might move slower than the industry might like, despite the many future-facing and progressive policies announced. Virat Tandon, Group CEO, MullenLowe Lintas Group: The union budget can be termed as consistent with the government's vision to reach the 5 trillion GDP mark by 2025-26. Hence, the strong focus on capex to boost infrastructure that connects and streamlines middle India and provides the engines of entrepreneurship across the length and breadth of the country. It also shows India's commitment to bring a digital first economy with the 5G rollout planned for next financial year, clarity on India's policy for cryptocurrency, data centres, EVs and our very own digital Rupee. Start-up culture will continue to flourish with the right policy framework. These investments and policies will generate jobs and go a long way in inclusive and sustainable growth for Bharat. Anurag Bansal, COO &amp; CFO, DDB Mudra Group: This Union Budget looks neutral, with no major changes in taxation. The launch of digital Rupee based on blockchain technology is a big move to bring in official cryptocurrency in India. New e-passports with embedded chips would definitely ease overseas travel. Managing the Fiscal deficit while pushing for growth and investments is a great balancing act taken on by the government. It will give a boost to capital investments and infrastructure development. Kartik Sharma - Group Chief Executive Officer – India, Omnicom Media Group: With an impetus on holistic growth, developing infrastructure and job creation across sectors, the 2022 union budget shows promise with a focus on the big picture. Reviving economic growth in the post-pandemic environment has been a focus for this government and this progressive, digital-first, and development-oriented budget reflects that. Not only does it provide a boost to the MSME, agriculture and healthcare verticals, but also signals that investing in infrastructure today will connect India better tomorrow. With an increased focus on digitization, some of the standouts for me were that the budget recognized the current gaps and opportunities within the education sector, and is advancing towards uplifting India with the creation of a digital ecosystem - one that is focused on upskilling and creating more employment; aligned with the dynamic needs of today. It also aims to further strengthen communications in the rural sector and build upon the overall financialization of India. Furthermore, while the rollout of a 5G ecosystem will improve the quality of services, the launch of digital money, supported by blockchain, signals an increasing focus on transparency. With consistency in strategic direction and focus on propelling the MSME and start-up ecosystem, this is a welcoming budget for new-age businesses and a hopeful one that will ultimately lead to a boost in the A&amp;M industry as well. We're at the cusp of the next stage of India's digital revolution and although certain factors like data privacy still remain an area to be delved deeper into, as infrastructure and banking penetrate further into rural India, we’re looking hopeful and strong to transform into a forward-leaning digital economy of tomorrow.” Deepak Mittal, CEO and Co-Founder, TO THE NEW: The government's unprecedented commitment to technology innovation and adoption in this union budget is highly encouraging. Breakthrough developments and futuristic technology such as the introduction of digital currency, the rollout of 5G within FY22-23, and e-passports using embedded chips are exciting for the country's future. Among the measures announced, the budget highlights special incentives to startups and the launch of a progressive, new portal encouraging a digital ecosystem for skilling and upskilling. These initiatives will serve as a successful catalyst for the country's economic growth. Atul Shrivastava, Group CEO &amp; Executive Director at Laqshya Media Group: The union Budget underlined the government’s focus on long-term growth. As India’s economic growth is estimated to be 9.2% in the upcoming financial year so it would be good for all the industry and with overall growth, we are sure advertising &amp; media will also show remarkable growth which was low due to the pandemic in the last couple of years. As announced the National Highways to be expanded by 25,000 km under PM Gati Shakti mission. Highways are adding a new dimension to the growth of the OOH Industry as advertising on the Highways is emerging as very strong choice for brand building for many categories. Prasad Shejale, Founder and CEO, Logicserve Digital: The FM has announced a very progressive budget with an intention to widen India's horizons and outlook in the next five years, leveraging emerging technologies. The Government has addressed some urgent priorities underpinning the digital sector, including the launch of digital currency, API-based skill credentials, digital learning channels, digitization of manual processes, etc. On the digital connectivity front, the 5G spectrum auctions will finally make the dream of a tech-savvy India a reality, further boosting the country's digital infrastructure. Additionally, the launch of a design-led manufacturing scheme for the 5G ecosystem as part of the PLI scheme will ensure affordable broadband and mobile communication even in far-flung areas. The availability of high-speed internet connectivity in urban as well as rural areas will encourage marketers to experiment with blockchain, AR, VR. On the skilling front, initiatives like establishing a digital university will provide an opportunity for youth to learn new skills from the comfort of their homes. The creation of a new task force to build domestic capacity in the Animation, Visual Effects, Gaming and Comic (AVGC) sector is commendable. The overall budget is future tech-enabled and balanced. Ahmed Aftab Naqvi, Global CEO &amp; Co-founder, GOZOOP Group: While there will always be hope for more and better, the continued push towards digital, fintech and the boost for start-up ecosystem with the extension of tax benefits till March 2023 along with capping the surcharge at 15% irrespective of the amount of long term capital gains, will fuel the fire of entrepreneurship in our nation. Varun Duggirala, Entrepreneur, Co-founder of The Glitch, Author, Content Creator and a Podcaster: The twin announcements of the digital rupee and the taxation on ‘virtual digital assets’ is clearly a focused drive from the government to regulate the crypto space. What needs to be seen is how this plays out because regulating a decentralized space is a paradox in itself. Another point that stood out for me was the national mental health program. More than anything else it signifies the normalizing of mental health as a legitimate area of focus for us as a nation. Shrenik Gandhi, CEO and Co-founder, White Rivers Media: In my opinion, it is a fairly balanced budget. There is sufficient emphasis being laid on up-skilling, and making right investments in tech which is the need of the hour. The previous budget was more inclined towards setting up a strong foundation in the digital space, and this one is essentially focused on making further advancements. Besides, Digital Rupee being introduced is indeed, a great news across sectors and it will be exciting to finally watch it become a reality. It can prove to be a game-changer in India's future as transactions will become even more instantaneous. Speaking of the expected benefits, let’s not forget that this is India’s #Budget and not a Big Bazaar scheme announcement. So, the immediate benefit may not be seen right now but considering the long-term narrative, it is a fairly established budget. Sahil Chopra, Founder &amp; CEO- iCubesWire: While the general trend of the <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">union budget 2022</keyword> has its emphasis on ease of doing business, I strongly believe, data and digital occupied the centerpiece of the budget. The plans to focus and promote the fintech and digital economy are a very strong positive move. New age technologies, keeping data and digital at heart of it will allow the tech enablers to transform multiple industries. For MSMEs, the government has plans to outlay Rs 2 trillion which is again a welcoming move that will help in enhancing startups as well as entrepreneurial opportunities for all. Besides, extension on tax exemption to startups and promotion of startups to facilitate ‘Drone Shakti’ through varied applications and drones as a service is also encouraging. The ambitious optical fibre to the villages under PPP in 2022-23 shall get the next 100M in the Digital Universe soon. To sum up, it’s a positive budget for the digital sector which has always vouched for a strong digital infrastructure in the country." Chetan Asher, Founder and CEO, Tonic Worldwide: The budget clearly will help the country march towards digital adoption and transformation in many sectors. With 5G rollout on the cards we will see an acceleration across the board. The digital rupee will put India right up on the map of advanced digital economies. Clarity on Digital assets and crypto will give it new impetus. All of these initiatives will help us emerge as leaders in adoption and growth of blockchain technology Ambika Sharma, Founder &amp; MD, Pulp Strategy: The Budget is interesting as the Government has focused on all sectors. The financial support for the digital payments ecosystem is a welcome move and further reaffirms the Government of India's digital banking push. This push on digitization will make way for more inclusion in the ecosystem. The focus on 'Ease of doing business is a great step, as it will further promote entrepreneurship in the economy” . The 2022-23 budget finely balanced fiscal retreat with supporting economic recovery. The budget focused on a familiar strategy of driving capital expenditure to drive growth, to crowd in private investment through higher public spending. Although markets could be disappointed with a higher fiscal deficit of 6.4% of GDP for FY23 than expected, it is perhaps prudent to not undertake aggressive fiscal consolidation at this nascent stage of recovery. While elevated market borrowings are likely to pressurize bond yields, the inclusion of green bonds in the borrowing plan is an interesting innovation. In terms of specific policy announcements, the move towards self-reliance through protection for domestic manufacturers (change in custom and import duties) aligns with the long-term goal of Atmanirbhar Bharat. The government has extended the startup tax holiday and concessional tax for manufacturing startups by a year. While that was on the cards, it doesn’t address the core need of startups to be given a longer tax holiday of 5 years as required. One of the most encouraging aspects of the budget has been the announcement to set up an AVGC (animation, visual effects, gaming, and comics) promotion task force to plan and build domestic capacity for serving domestic as well as global markets. Loss from the transfer of virtual digital assets cannot be set off against any other income. The creation of a unified logistics platform and the developments of 100 new cargo terminals in the next three years are significant steps in improving the supply chain ecosystem in the country. Infrastructure status given to Data Centers will provide a huge boost to the fast-evolving digital environment of the country. The fiscal outcome is broadly in line with our expectations with the government having continued its focus on infrastructure and rural demand. Himanshu Arya, Founder and CEO, Grapes: The Union Budget for the financial year 2022-23 has set the stage with an invigorated focus on ramping up the process of the digital revolution. The government’s focus on the digital ecosystem is a progressive move to render an inclusive landscape for job openings and entrepreneurial opportunities. The extension of tax incentives for startups for one more year will give a slight relief to the industry. I hope that the cash flow improves in the market. The Union Budget has various encouraging initiatives and is directed towards a more viable and flexible business ecosystem that completely aligns with the ideologies of Make in India. Siddharth Devnani, Co-Founder &amp; Director, SoCheers: Digital and digitization stood out as a strong overall trend in the Union Budget 2022. The budget put a great focus on long-term growth and given how intricately ‘digital’ was integrated into several measures, it can be seen as an integral part of that growth. Implementation of the Central Bank digital currency will definitively aid the growth of digital economy and finance in the country, opening doors for digital acceleration across sectors. The announcement about the new digital university and the renewed focus on digital learning, further presents an opportunity, especially to the fast-evolving Educational Technology sector. However, a definite plan on how this will pan out for all corners of India remains to be seen. Moreover, digital will also be leveraged in the set-up and operation of tele-mental health centres, providing the necessary focus and access to mental health services to the Indian masses. This comes as one of the most welcome move as it’ll contribute infinitely to the nation’s long-term growth.

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