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A staggering 93 per cent of the candidates who won the 2024 <keyword id="56978" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="Orion">Lok Sabha elections</keyword> are <keyword id="6366800" type="General" weightage="100" keywordseo="crorepatis" source="Orion">crorepatis</keyword>, up from 88 per cent in 2019, according to an analysis by poll rights body <keyword id="484381" type="General" weightage="20" keywordseo="Association-of-Democratic-Reforms" source="Orion">Association of Democratic Reforms</keyword> (<keyword id="45376" type="General" weightage="20" keywordseo="ADR" source="Orion">ADR</keyword>). The top three wealthiest candidates are TDP's Chandra Sekhar Pemmasani from Andhra Pradesh's Guntur constituency with assets worth Rs 5,705 crore, BJP's Konda Vishweshwar Reddy from Telangana's Chevella with total assets amounting to Rs 4,568 crore and BJP's Naveen Jindal from Haryana's Kurukshetra with assets worth Rs 1,241 crore. Out of the 543 winning candidates, 504 are crorepatis, the analysis found. In 2019, 475 (88 per cent) winning candidates were crorepatis and 443 (82 per cent) in 2014. The trend indicates a steady climb since 2009 when only 315 (58 per cent) MPs were crorepatis. According to the analysis, 227 (95 per cent) of the BJP's 240 winning candidates, 92 (93 per cent) of the Congress' 99, 21 (95 per cent) of the DMK's 22, 27 (93 per cent) of the TMC's 29 and 34 (92 per cent) of the Samajwadi Party's 37 candidates have declared assets worth more than Rs 1 crore. All winning candidates of the AAP (3), the JDU (12) and the TDP (16) are crorepatis, ADR data showed. The analysis also delves into candidates' chances of winning based on their financial backgrounds. It found that the probability of a crorepati candidate clinching victory in the 2024 Lok Sabha elections stood at 19.6 per cent, compared to a meagre 0.7 per cent for candidates with assets less than a crore. The analysis also provides a breakdown of wealth distribution among the winning candidates. The data showed that 42 per cent of the candidates possess assets totalling Rs 10 crore and above. While 19 per cent of the candidates fall within the bracket of Rs 5 to 10 crore, 32 per cent hold assets ranging between Rs 1 and 5 crore. Only about 1 per cent of the winning candidates have assets worth less than Rs 20 lakh. Among major parties, the average assets per winning candidate vary significantly. The TDP leads with an average of Rs 442.26 crore per winner, followed by the BJP with Rs 50.04 crore, the DMK with Rs 31.22 crore, the Congress with Rs 22.93 crore, TMC with Rs 17.98 crore and SP with Rs 15.24 crore. The analysis also highlights disparities within the financial profiles of winning candidates. While some boast of substantial assets, others have relatively low worth. For instance, BJP's Jyotirmay Singh Mahato from West Bengal's Purulia has declared assets totalling a mere Rs 5 lakh. Similarly, TMC's Mitali Bag from West Bengal's Arambag holds assets worth Rs 7 lakh. Assets of SP's Priya Saroj from Uttar Pradesh's Machhlishahr are valued at Rs 11 lakh. In addition, the analysis identifies candidates with high liabilities. TDP's Pemmasani tops the list with liabilities exceeding Rs 1,038 crore. DMK's S Jagathratchakan from Tamil Nadu's Arakkonam has liabilities worth Rs 649 crore and TDP's Prabhakar Reddy Vemireddy from Andhra Pradesh's Nellore has liabilities worth Rs 197 crore.

93% of Lok Sabha 2024 poll winners are crorepatis: ADR analysis

<keyword id="1575" type="General" weightage="20" keywordseo="congress" source="Orion">Congress</keyword> president <keyword id="19897159" type="General" weightage="20" keywordseo="Mallikarjun-Kharge" source="keywords">Mallikarjun Kharge</keyword> on Monday wrote an open letter to the country's bureaucracy on the eve of counting of votes for the <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword>, urging officers to adhere to the Constitution and serve the nation "without fear, favour and ill-will against anybody". "Do not get intimidated by anyone. Do not bow down to any unconstitutional means. Do not be afraid of anyone and discharge your duties, based on merit, on this counting day," he wrote. "We owe it to future generations, a vibrant Democracy and a long-lasting Constitution, as penned by the makers of modern India," he said. The counting of votes polled in the Lok Sabha elections will be held on Tuesday. <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div> "In this hope that India remains truly Democratic in nature, I extend good wishes to each one of you, and expect that our eternal ideals of the Constitution remain untarnished," the Congress chief said. In his appeal to all civil servants and officers, he said he is writing in his capacity of the Leader of the Opposition (Rajya Sabha) and as the president of the <keyword id="19964138" type="General" weightage="20" keywordseo="Indian-National-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian National Congress" meta.hostid="83" meta.entityid="Indian National Congress">Indian National Congress</keyword>. He congratulated the Election Commission of India, the Central Armed Police Forces, state police forces, civil servants, district collectors, volunteers and all in the bureaucracy who were involved in the smooth conduct of the mammoth general elections. "Our inspiration and India's First Home Minister, Sardar Vallabhbhai Patel famously called the civil servants as the 'Steel frame of India'. The people of India are well aware that it is the Indian National Congress which established numerous institutions, laid their solid foundation, and devised mechanisms for their independence, on the basis of the Constitution of India. "Independence of the institutions is paramount, for every civil servant takes oath of the Constitution that they 'will faithfully and conscientiously discharge their duties and will do right to all manner of people in accordance with the Constitution and the law, without fear or favour, affection or ill-will'," he said. "In this spirit we expect every bureaucrat and officer - from top to bottom of the hierarchy, to discharge their duties in the spirit of the Constitution, without any coercion, threat, pressure or intimidation either from the ruling party/coalition or from the opposition party/coalition," the Congress chief said in his letter. He said that the Congress, through the Constitution prepared by inspirational founding members such as Pandit Jawaharlal Nehru, B R Ambedkar, Rajendra Prasad, Maulana Azad, Sarojini Naidu and countless others, not only created a framework of strong governance, but also ensured affirmative action through representation of the marginalised in the bureaucracy and the civil society. "The last decade has witnessed a systemic pattern to assault, undermine and suppress our autonomous institutions by the ruling party. India's Democratic ethos are being consequently damaged. There is a widespread tendency to turn India into a regimental dictatorship. "We are increasingly seeing some institutions shedding their independence and brazenly following the diktats of the ruling party. Some have completely adopted their style of communication, their way of functioning, and in some cases even their political rhetoric," Kharge said. But it is not their fault, he said. "With brute power, threat, coercive mechanisms and misuse of agencies, this tendency to bow to the powers that have become a way for their short-term survival. Even though, in this denigration, India's Constitution and Democracy have become a casualty." The Congress chief also said that the "will of the people" is supreme, and people want Indian bureaucracy to again be the same 'Steel frame of India' as envisaged by Sardar Patel. "Indian National Congress now urges the entire bureaucracy, to adhere to the Constitution, enact their duties, and serve the nation, without fear, favour and ill-will against anybody," Kharge said. Counting for the 2024 Lok Sabha elections would be held on Tuesday, and both the ruling NDA and the opposition INDIA bloc have claimed victory. Meanwhile, BJP IT cell head Amit Malviya shared a purported letter of the Congress in which it has asked all its cadres to reach the counting centres. However, there was no confirmation of the letter from the Congress. "<keyword id="1571" type="General" weightage="20" keywordseo="congress-party" source="Orion">Congress party</keyword>'s instruction to its workers' reads like a manual to riot...There is absolutely no merit in asking people to assembly in state and district offices because counting happens in a designated secure zone for each Lok Sabha, unless the idea is to unleash mobs and disrupt the process," Malviya said in a post on X while sharing the unsigned letter of the Congress.

'Follow Constitution, serve nation without fear': Congress chief Kharge writes open letter to bureaucrats

New Delhi [India], June 4 (ANI): The mammoth exercise to count votes polled for the Lok Sabha seats in the 2024 elections will begin at 8 am on Tuesday, with trends and results following shortly thereafter. Results of the <keyword id="6372146" type="General" weightage="20" keywordseo="Assembly-elections" source="Orion">Assembly elections</keyword> in Sikkim, Arunachal Pradesh, Odisha and Andhra Pradesh were held simultaneously with voting for the 543-member Lok Sabha. Results of 175 Assembly constituencies in Andhra Pradesh and 147 Assembly constituencies in Odisha and results of bypolls in 25 Assembly constituencies will also be declared today. Here're the LIVE results: <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div> Strict security has been put in place for the smooth conduct of counting of votes for over 8,000 candidates in this general elections. Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) will seek a third consecutive term in government, while the Congress-led opposition aims to unseat them. Most <keyword id="43771" type="General" weightage="20" keywordseo="exit-polls" source="Orion">exit polls</keyword> have predicted a return of PM Modi to power, a development which will make him the first Prime Minister since Jawaharlal Nehru to secure a third successive term in power, Meanwhile, a delegation of Indian National Developmental Inclusive Alliance (INDIA) bloc leaders met with the Election Commission of India urging it to ensure that postal ballots are counted and their results declared before the outcome of the EVMs is announced. Earlier, Chief Election Commissioner Rajiv Kumar had said that a "very robust system" has been put in place. "There are around 10.5 lakh booths. Each booth will have 14 tables. There are observers and micro-observers. Nearly, 70-80 lakh people are involved in the process," he said. The national capital is all set to witness the battle. With tight security arrangements in place, Delhi is well-prepared to watch the results of the 2024 <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-Elections" source="keywords">Lok Sabha elections</keyword>. Around 70 companies of the security forces will be deployed at all seven counting centres across the national capital as part of the elaborate security arrangements made by the Delhi Police for today. Delhi traffic police issued a fresh advisory ahead of the counting of votes scheduled for Tuesday, listing key roads where traffic restrictions and diversions will start from 5 am onwards to ensure smooth vehicular movement. Prime Minister Modi's hometown, Gujarat, is also preparing for the vote-counting day as security forces rehearse and perform drills for the effortless conduct of D-day. Exit polls have predicted the return of the BJP to power. Various exit polls have given the BJP more than 64 seats in Uttar Pradesh. The BJP-led National Democratic Alliance is poised for a hat-trick win in Lok Sabha polls with a massive majority. Exit polls were predicted on Saturday and indicated that the ruling party at the Centre would improve its performance in several states ruled by other parties. A few exit polls predicted that the BJP-led NDA could reach the goal of "400 paar" stated by BJP leaders in the run-up to the Lok Sabha polls. The exit polls predicted that the ruling BJP-led NDA is poised to improve its performance over its 2019 record when it won 352 seats. Two polls predicted the BJP would also improve its numbers from the 303 seats it won in the 2019 Lok Sabha polls. In the 2019 elections, NDA wrested 353 seats, of which the BJP won 303 alone. The Opposition's UPA got only 93 seats of which the Congress got 52. The Lok Sabha elections were conducted in seven phases- on April 19, April 26, May 7, May 13, May 20, May 25 and June 1. The counting trends and results, as per data entered by RO/ARO for AC/PC will be available on the ECI website as well as on the Voter Helpline App, both iOS and Android Mobile Apps, according to the ECI. The Voter Helpline App can be downloaded from the Google Play Store or Apple Play Store. Users can use the available filter to find out the winning/leading or trailing candidate details, along with the constituency-wise or State-wise results from the Voter Helpline App. The local display of the trends and results by the CEOs/ROs/DEOs may also be done through the Digital Display Panels, it said.

Lok Sabha elections 2024 results: Mammoth vote-counting exercise set to begin at 8 am, amid high security

The counting of votes cast by 64.2 crore hopeful Indian voters during the six-week-long 18th <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword> officially began at 8 AM today and it is suffice to say that the air is crackling with equal parts excitement and trepidation. Over 700 aspiring parties participated in the world’s largest democratic exercise. But the main duelling parties remain consistent with previous trends: the ruling Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>) led by Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword> and the opposition bloc led by the <keyword id="19964138" type="General" weightage="20" keywordseo="Indian-National-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian National Congress" meta.hostid="261" meta.entityid="Indian National Congress">Indian National Congress</keyword> (INC). Modi is shooting for a third, historic win after spending the last ten years in office, but the road ahead does not seem as smooth as anticipated. A political party in India requires at least 272 seats to cross the majority mark in the 543-member lower house of the Indian parliament, the Lok Sabha. The PM has audaciously declared that he is expecting a huge win exceeding 400 seats, the slogan ab ki baar 400 paar is stuck in every Indian’s head — irrespective of their political inclination. The Congress-led India bloc, on the other hand, is aiming for a relatively modest 295. On Saturday, most exit poll surveys predicted 350-370 seats for the BJP and between 107-140 seats for the opposition. However, the early trends are showing a very different picture with the INDIA bloc exceeding expectations in many states. Polls have been off the mark a few times before, but as NDA looks poised to win a third term, albeit with a few last-minute struggles, here’s a look back at the previous elections responsible for Mr Narendra Modi’s unmatchable dominance over <keyword id="20184421" type="General" weightage="20" keywordseo="Indian-politics" source="keywords">Indian politics</keyword>. <cmsannotation type="cmsannotation" annotationid="Inside BJP’s decade-long winning streak" comment="subhead" text="Inside BJP’s decade-long winning streak">Inside BJP’s decade-long winning streak </cmsannotation>The BJP has come a long way since 1984 when the party won just two seats. Its pro-Hindutva stance pushed it to prominence over the decades, especially in the 1990s. The BJP was in power for a considerable amount of time under Atal Bihari Vajpayee’s leadership at the turn of the century. But the kind of support that Narendra Modi has received since 2014 has been unmatched in the history of modern Indian politics. In 2014, the BJP saw a surprising landslide victory with 282 of the 543 seats. But what factors contributed to its sweeping win with a 31.3% majority? Throughout its campaigning ahead of the general elections that year, the BJP kept stressing its interest in fixing the economy and combating corruption allegedly caused by the Congress party’s rather inept governing. Modi, who called himself a chowkidar or watchman, vowed to set the government and bureaucracy to rights. He promised more jobs for young Indians and even launched a social media campaign to appeal to the younger generation. Many experts suggested that Modi created the brand “NaMo'' for himself through relentless media campaigning, something that <keyword id="19895780" type="General" weightage="20" keywordseo="rahul-gandhi" source="keywords">Rahul Gandhi</keyword> and other major political leaders could not do at the time. Additionally, he is also said to have had the support of the 45,000 country-wide RSS branches — the Hindu cultural nationalist parent of the BJP. However, after the leader had managed to comfortably settle into his new role as the Prime Minister of India, he announced the demonetisation of all ₹500 and ₹1,000 banknotes of the Mahatma Gandhi Series on 8 November 2016. As per a 2018 report from the Reserve Bank of India said that “the effort had failed to remove black money from the economy”. Modi was widely criticised for the way this move impacted the middle-class people of India. Despite this setback as well as criticism against his economic reforms like GST, he continued to implement bold policy changes to strengthen the core economy. His tilt towards a digital economy and seemingly tough actions against corrupt practices received widespread acclaim. He also successfully invoked a strong sense of nationalism and security in the people through the Balakot airstrike, a bombing raid conducted by Indian warplanes in February 2019. And it worked! BJP came to power again in the 2019 Lok Sabha elections, this victory being bigger than the last. The BJP won a whopping 37.36% of the vote — the highest by a political party since the 1989 general elections with 303 seats. However, similar to 2019, towards the end of his second term in 2024, joblessness appears to be on the rise and incomes of farmers continue to plummet. Amid major issues like food inflation and the threat of AI to the job market, the ruling party relied on not-so-subtle religious polarisation and a ton of welfare programmes. From being chowkidar in 2014, Prime Minister Narendra Modi has been depicted to be a saint today by many of his followers. While past leaders in India have tried to hold on to their secular image, Mr Modi has been seen flouting this convention on multiple occasions, expressing that he takes pride in his religion. With crores of followers still supporting him, the PM seems to be already on a path to victory. Only time will tell if the struggles during the last phases of this year’s election will come back to haunt him. In the meantime, stay tuned to Business Insider India for <a href="https://www.businessinsider.in/politics/elections/lok-sabha-election-results-2024-live-counting-begins-at-8-am-as-bjp-led-nda-hopes-for-a-historic-third-term/articleshow/110685785.cms">more updates on the Lok Sabha elections 2024</a>.

As PM Modi awaits his third big win, here’s how BJP created history during the 2014 & 2019 Lok Sabha elections

Laapata Ladies, Bridgerton and Heeramandi might have dominated the OTT cycle last month, but none of these dramas can hold a candle to the absolute thriller that unfolded during the Lok Sabha election cycle this year. While the parties scramble to decide their allegiances, most people are already convinced about a result familiar to the previous two general elections: <keyword id="20509939" type="General" weightage="20" keywordseo="Modi-3-0" source="keywords">Modi 3.0</keyword>. However, the road to the end has proven anything but a bed of lotuses for the Bharatiya Janata Party (<keyword id="19894848" type="General" weightage="20" keywordseo="BJP" source="keywords">BJP</keyword>). Despite staunch optimism of winning 400 out of 543 seats, the BJP-led National Democratic Alliance (<keyword id="19938590" type="General" weightage="20" keywordseo="NDA" source="keywords">NDA</keyword>) managed to capture only 293 — a margin barely above the 272 seats majority, and dozens below their 2014 and 2019 standings. Then came the fact that the BJP, with only 240 seats won, would have to be supported by two major partner parties: the Telugu Desam Party (TDP) and the Janata Dal (United), if they wished to finalise a majority and form the next Lok Sabha. This meant that the ball currently remains in the courts of these two quintessential “Kingmakers”; will they keep their pre-poll promises to ensure the continuity of Mr Modi, or usurp him by joining the opposition <keyword id="19895063" type="General" weightage="20" keywordseo="INDIA" source="keywords">INDIA</keyword> bloc? This mystery may linger not just this week, but throughout the term of the next government given the fickle nature of the Indian political system. As we move into the final few legs of this political marathon, the story has only taken a turn for the juicier. According to media reports, INDIA has now offered the position of Deputy Prime Minister to JD(U) Nitish Kumar and a special status to Andhra Pradesh (with TDP majority) if the parties align with the alliance and forsake their NDA partnership. If they agree, the INDIA-TDP-JD(U) coalition could overthrow BJP-NDA to form the government, making for the biggest <keyword id="21945335" type="General" weightage="20" keywordseo="political-plot-twist" source="keywords">political plot twist</keyword> in decades. While we wait for the historical gavel to drop, let’s take a look back at the other bombshells to have come out of the tallying process so far. <cmsannotation type="cmsannotation" annotationid="BJP falls short of majority" comment="subhead" text="BJP falls short of majority">BJP falls short of majority</cmsannotation> Despite battle cries of ‘Abki baar 400 par’, the Modi-led party has failed to cross the required 272 seats necessary for a clear majority and stands far below their performances in 2014 and 2019. They are no longer self-sufficient enough to make a third term without the support from allies. <cmsannotation type="cmsannotation" annotationid="BJP loses ground in Hindi Heartland" comment="subhead" text="BJP loses ground in Hindi Heartland">BJP loses ground in Hindi Heartland</cmsannotation> The northern states, which constitute a large section of the Hindi-speaking population, have been considered BJP’s biggest loyalists. Despite this, the party has faced unexpected stiff competition in states such as Uttar Pradesh, Rajasthan, Chandigarh and Haryana. These are crucial states for the BJP, as they hold a large number of seats and losing a majority of these seats has weakened their moral position. While some blame the loss on the anger of dominant castes in the region, others say that the party ignored these stronghold regions in pursuit of expansion to the east and south. <cmsannotation type="cmsannotation" annotationid="NDA wins below 300 seats, far below landslide 400 predictions" comment="subhead" text="NDA wins below 300 seats, far below landslide 400 predictions">NDA wins below 300 seats, far below landslide 400 predictions</cmsannotation> Not only has BJP itself been unable to capture the required majority, their NDA coalition hasn’t even touched 300 Lok Sabha seats. This indicates a significant loss of public support compared to predictions. <cmsannotation type="cmsannotation" annotationid="BJP loses Ram Temple Constituency" comment="subhead" text="BJP loses Ram Temple Constituency">BJP loses <keyword id="41267" type="General" weightage="20" keywordseo="ram-temple" source="Orion">Ram Temple</keyword> Constituency</cmsannotation> Construction of the Ram Temple in Ayodhya has been one of BJP’s most prominent election promises in the past two elections. Despite delivering on this front, the party has lost the Faizabad seat to Samajwadi Party candidate Awadhesh Prasad. <cmsannotation type="cmsannotation" annotationid="Lotus blooms down south" comment="subhead" text="Lotus blooms down south">Lotus blooms down south</cmsannotation> BJP opened its account for the first time in Kerala with a win for actor-turned-politician Suresh Gopi at the Thrissur seat. In Telangana, both BJP and Congress put up a strong performance by winning eight seats each and sidelining the regional parties. However, for the BJP, Tamil Nadu was a disappointment as it failed to win even one seat despite immense push from all quarters. The party did manage to increase the vote share to double digits despite a lack of support from the regional parties. <cmsannotation type="cmsannotation" annotationid="BJP wins all Delhi seats" comment="subhead" text="BJP wins all Delhi seats">BJP wins all Delhi seats</cmsannotation> Making a hat-trick, the BJP won all seven Lok Sabha seats in Delhi for the third time, beating the Congress-AAP alliance. <h3>Individual/Regional Politics</h3><cmsannotation type="cmsannotation" annotationid="Rahul Gandhi wins two seats" comment="subhead" text="Rahul Gandhi wins two seats">Rahul Gandhi wins two seats</cmsannotation> After a risky contest for two seats in Kerala’s Wayanad and Uttar Pradesh’s Rae Bareli, the Congress leader has won both by a massive margin. <cmsannotation type="cmsannotation" annotationid="Kangana Ranaut wins Himachal seat" comment="subhead" text="Kangana Ranaut wins Himachal seat"><keyword id="10343350" type="General" weightage="20" keywordseo="kangana-ranaut-wins" source="Orion">Kangana Ranaut wins</keyword> Himachal seat</cmsannotation> The celebrity candidate’s debut resulted in a strong win for the Mandi seat for BJP. <cmsannotation type="cmsannotation" annotationid="Smriti Irani loses" comment="subhead" text="Smriti Irani loses">Smriti Irani loses</cmsannotation> Despite high expectations, Smriti Irani loses the Amethi seat by a large margin to Congress’ Kishori Lal Sharma. This is a high-profile defeat for a key BJP figure. <cmsannotation type="cmsannotation" annotationid="Shashi Tharoor faces a brief hiccup" comment="subhead" text="Shashi Tharoor faces a brief hiccup">Shashi Tharoor faces a brief hiccup</cmsannotation> Earlier trends had briefly indicated trouble for the recurrent Thiruvananthapuram MP. However, the tides turned quickly, handing Tharoor the win over Rajeev Chandrasekhar. <cmsannotation type="cmsannotation" annotationid="Former cricketer Yusuf Pathan wins" comment="subhead" text="Former cricketer Yusuf Pathan wins">Former cricketer Yusuf Pathan wins</cmsannotation> Stepping up to politics for the first time, cricketer turned politician Yusuf Pathan won West Bengal’s Baharampur seat for the Trinamool Congress. <cmsannotation type="cmsannotation" annotationid="Jailed pro-Khalistani candidate victorious in Punjab" comment="subhead" text="Jailed pro-Khalistani candidate victorious in Punjab">Jailed pro-Khalistani candidate victorious in Punjab</cmsannotation> Amritpal Singh, a notable Khalistan supporter and independent candidate clinched the Khadoor Sahib seat from jail in Punjab. <cmsannotation type="cmsannotation" annotationid="Sexual assault-accused Prajwal Revanna pulls considerable vote share" comment="subhead" text="Sexual assault-accused Prajwal Revanna pulls considerable vote share">Sexual assault-accused Prajwal Revanna pulls considerable vote share</cmsannotation> Despite a final win by Congress candidate Shreyas M. Patel in Karnataka’s Hassan constituency, JD(U)’s Prajwal Revanna garnered 46.5% of the total votes. This has occurred despite being in police custody and having a massive sexual assault case lodged against the candidate. <h3>Other notable events</h3><cmsannotation type="cmsannotation" annotationid="Indore sets record for highest NOTA voters" comment="subhead" text="Indore sets record for highest NOTA voters">Indore sets record for highest NOTA voters</cmsannotation> Controversy had earlier erupted in Indore after Congress candidate Akshya Kanti Bam deferred to BJP shortly before the voting process had begun. In response, over 2 lakh voters placed their bets on ‘None of the Above’, expressing dissatisfaction with the choices presented to them. <cmsannotation type="cmsannotation" annotationid="Stock market falls by COVID-19 levels" comment="subhead" text="Stock market falls by COVID-19 levels">Stock market falls by COVID-19 levels</cmsannotation> Anticipating an easy win and stable third term for Modi, the Indian stock surged right before the election. However, government uncertainty later on spurred the Nifty and BSE Sensex indices to crash by as much as 8.5%.

Lok Sabha Elections 2024: Biggest shockers to come out of the thrilling election results

It is a momentous day for the country as we finally enter the vote-counting phase of the <keyword id="20181062" type="General" weightage="20" keywordseo="2024-Lok-Sabha-election" source="keywords">2024 Lok Sabha election</keyword> process on June 4. The 80-day, seven-phase-long process has been marred with a wide range of issues ranging from weather turmoil to vote tampering and reelections. As the final leg of counting concludes in a few hours, here’s what the vote tallying process looks like, and what is likely to happen after after the final results are announced. <cmsannotation type="cmsannotation" annotationid="Vote counting" comment="subhead" text="Vote counting"><keyword id="389062" type="General" weightage="100" keywordseo="vote-counting" source="Orion">Vote counting</keyword></cmsannotation> While the election process takes place in several stages, the vote tallying process is carried out simultaneously in all of the country’s 543 constituencies, with typically one counting centre in each. The tallying is done by a ‘Returning Officer’ and their assistants — officials appointed by the <keyword id="19895876" type="General" weightage="20" keywordseo="Election-Commission-of-India" source="keywords">Election Commission of India</keyword> — in several rounds, or ‘leads’. This year, the counting process began at 8 AM IST on June 4, and is expected to carry on till beyond the afternoon. It will start with the tallying of postal ballots — ballot papers distributed to some categories of people — followed by the <keyword id="21930663" type="General" weightage="20" keywordseo="EVM-count" source="keywords">EVM count</keyword>. Periodically, the results of the ongoing count are announced to the media and then televised, helping the nation learn of the current political trend. <cmsannotation type="cmsannotation" annotationid="The counting process for the Lok Sabha Election" comment="subhead" text="The counting process for the Lok Sabha Election">The counting process for the Lok Sabha Election</cmsannotation> Under Rule 54 A of the Conduct of Elections Rules 1961, the process for counting votes starts with postal ballots at the Returning Officer's (RO) table. Thirty minutes into postal ballot counting, Electronic Voting Machine (EVM) votes can be counted, or immediately if no postal ballots are present. Counting officials must ensure that the EVM's Control Unit (CU) seal is intact and that the total votes match Form 17C before counting. Results from the CU are recorded in Part-II of Form 17C, and verified by the counting supervisor, micro observer, and candidate agents. If the CU's display fails, <keyword id="20991106" type="General" weightage="20" keywordseo="VVPAT-slips" source="keywords">VVPAT slips</keyword> are counted post-CU counting. Results for each CU are documented and signed in Form 17C, which is then sent for compiling the final result in Form 20. VVPAT slip counting starts after CU votes are counted, with mandatory verification of VVPAT slips from five random polling stations per constituency. If the victory margin is less than the rejected postal ballots, those ballots are re-verified before declaring the result. In case of a tie, the winner is determined by a draw of lots. <cmsannotation type="cmsannotation" annotationid="Results are announced" comment="subhead" text="Results are announced">Results are announced</cmsannotation> The outcome for each constituency is announced as soon as counting concludes. As per <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>’s counting system, the candidate with the highest number of votes will win for a particular constituency, regardless of whether they are able to manage a majority. These results are generally televised throughout the day. After the <keyword id="19895782" type="General" weightage="20" keywordseo="election-commission" source="keywords">Election Commission</keyword> of India (ECI) has tallied all 64 crore votes that were cast this year, the constitutional body will announce the results for all 543 seats. Subsequently, if the winning party of the alliance has secured at least 272 seats, the institution’s president will call upon the leader of the winning party to form a government for the next five-year term. If no group is able to achieve a clear majority, political parties may form coalitions to reach the 272 magic number. If all negotiations fail and a “minority government” cannot be formed by the largest party, the President of India may dissolve the Lok Sabha (lower house of Parliament) and announce fresh elections. The next Lok Sabha must be announced before the current term ends on June 16. Most exit polls have indicated another landslide victory for the Bharatiya Janata Party-led National Democratic Alliance, with a third term for Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="narendra-modi" source="keywords">Narendra Modi</keyword>. However, early trends suggest that the Congress-led INDIA bloc is performing far better than expected. Results are expected to be clearer by the afternoon.

What will happen after the election commission finishes counting all Lok Sabha votes?

New Delhi [India], May 16 (ANI): <keyword id="9766785" type="General" weightage="100" keywordseo="Lok-Sabha-elections-2024" source="Orion">Lok Sabha elections 2024</keyword> have seen a <keyword id="20108198" type="General" weightage="20" keywordseo="voter-turnout" source="keywords">voter turnout</keyword> at polling stations of about 66.95 per cent so far, as approximately 451 million people have voted during the first four phases of ongoing general elections. In a bid to encourage voters to exercise their franchise in large numbers, ECI has enhanced its targeted interventions to reach out to every eligible voter. The Commission led by CEC Rajiv Kumar along with ECs Gyanesh Kumar and Sukhbir Singh Sandhu, further directed CEOs of the states going to poll in the fifth, sixth and seventh phases to timely distribute voter information slips to all electors and enhance outreach activities. "Commission strongly believes that partnership and collaboration are essential pillars of the voter awareness programme. It's heartening to see that, at the Commission's request, different institutions, influencers and celebrities with significant reach are working enthusiastically on a pro-bono basis," Chief Election Commissioner Rajiv Kumar said. Further, he added that a higher voter turnout would be a message from Indian voters to the world, about the strength of Indian Democracy. He urges all the voters to cast their vote in huge numbers, as voting day is not a holiday but a day of pride, by participating in the festival of democracy. According to an official release, various <keyword id="21686177" type="General" weightage="20" keywordseo="voter-awareness-drives" source="keywords">voter awareness drives</keyword> and campaigns have been carried out by stakeholders in collaboration with ECI. Telecom Service Providers such as Bharat Sanchar Nigam Limited, Bharti Airtel Limited, Jio Telecommunication, and Vodafone-Idea Limited are reaching out to every mobile user in the respective parliamentary constituency through push SMS/Flash SMSs, outbound dialling calls to mobile users, RCS (Rich Communication Services) messaging and WhatsApp messages/alerts. These activities are carried out two/three days before the poll and even on the poll day, in regional languages, with an appeal to vote. ECI has collaborated with BCCI for voter awareness activities during the ongoing IPL season. The voter awareness messages and songs are being played at different stadiums during the cricket matches. The most innovative aspect of this campaign is the administration of voter's pledges by cricket legend Sachin Tendulkar in a pre-recorded video message, at various IPL venues. Further, voter awareness messages are integrated into cricket commentary. Cricketers from 10 IPL teams have encouraged voters to participate in the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> elections in 2024 with their recorded voter awareness messages. A voting day alert was sent to all Facebook users pan India to inform and inform the voters about the general elections and to nudge them to participate in the festival of democracy, the release mentioned. The release further stated that WhatsApp personalised messages have begun on polling day. Google India is contributing through its iconic feature of Google Doodle on poll days and banners appearing on YouTube, Google Pat and other Google platforms. The Retail Association of India has been actively engaging with voter awareness activities, through their retail network, whereby retail chains are encouraged to celebrate the election as a festival. The vast network of post offices and banking institutions was utilised by ECI to reach out to a wide and diverse audience across the length and breadth of the country. In collaboration with the Ministry of Petroleum and Natural Gas, the parliamentary elections campaign logo "Chunav ka Parv, Desh ka Garv" has been integrated with the IRCTC portal and tickets. Voter awareness announcements have been integrated with the public address system at all railway stations. The logo stickers are used on coaches of the superfast trains. In collaboration with the Ministry of Petroleum and Natural Gas, hoardings on voter awareness have been installed in about 16,000 retail outlets. In collaboration with the Ministry of Civil Aviation, airlines are making an inflight announcement with an appeal message to participate in the ensuing elections. Voter guides are being kept in aircraft seat pockets. Apart from this, many airports are providing space for the display of voter awareness messages. Selfie points have been installed at airports in 10 major cities viz. Delhi, Mumbai, Kolkata, Bengaluru, Hyderabad, Ahmedabad, Lucknow, Patna, Chandigarh, and Pune. Cinema theatres across the country are playing ECI voter awareness films and ECI Song Main Bharat Hoon, Hum Bharat Ke Matdata Hai, at regular intervals, as a part of the Public Service Awareness (PSA) film. Sansad TV is creating short films on Unique Polling Stations set up in remote corners of the country by the election machinery after navigating difficult terrains to demonstrate the challenges in ensuring voting at the last mile. AMUL, Mother Dairy and other milk co-operatives have started branding their milk pouches with the message 'Chunav Ka Parv, Desh ka Garv' and encouraging voters through social media platforms. AMUL is also encouraging voters with its unique messaging through AMUL Girl Topical advertisements in newspapers. Prasar Bharati: Doordarshan has produced, various short films, including appeals from constitutional functionaries like President of India, Vice President of India, and Chief Justice of India, among others. Further, unique polling stations are being covered by the regional Kendra's audio-visual documentation. Music App Spotify is running a campaign called 'Play Your Part', and they have issued print advertisements, and curated the playlists for the elections, on their app. Payments app PhonePe has integrated voter awareness message into their app and is actively encouraging voters. BookMyShow has launched an integrated campaign, titled "Aaj Picture Nahi, Bigger Picture Dekho," to raise awareness among voters. MakeMyTrip is running a campaign titled 'MyVoteWalaTrip', whereby discounts are offered to citizens going to vote. Food delivery platforms such as Zomato and Swiggy are disseminating voter awareness messages through their platforms and social media activities. Grocery App Blinkit changed its logo to "Inkit" for the elections, incorporating a message encouraging people to "Go out and Vote" as a tagline. Uber India is reaching out to voters through multi-channel messaging (in-app, emails, push notifications), offering discounts for rides to polling stations, and amplifying voter awareness messages on social media platforms. Bike app Rapido has been encouraging voters with a free ride to vote. Urban Company has launched 'I Have Voted Campaign' to encourage voters. Tata Neu app, serving as the Tata Group's group-wide consumer-facing mobile app, prominently features the "Cast Your Vote" animated banner on its homepage, with additional initiatives currently underway. Truecaller is enhancing its layout by displaying voter awareness message during outbound calls Some other independent initiatives are Mankind Pharma #VotingVirgin campaign, clothing brand Neeru's "Vote ki Taiyaari" TVC, Tinder's "Every Single Vote Counts" campaign, creatively curated social media post by Matrimonial sites like Jeevansathi.com, etc and discounts for voting by popular brands such as Shoppers' Stop, MakeMyTrip, Chroma and many more. Four phases of Lok Sabha polls have been held and the voting will conclude on June 1 with results on June 4. The remaining phases will be held on May 20, May 25, and June 1.

451 million voters! First four phases of Lok Sabha elections witness 66.95% voter turnout so far

With latest trends showing the BJP falling below the majority mark, the Congress on Tuesday said it has become clear that it will be a staggering political and decisively <keyword id="21932463" type="General" weightage="20" keywordseo="moral-defeat" source="keywords">moral defeat</keyword> for <keyword id="19895781" type="General" weightage="100" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>. Counting of votes are underway for the <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword>, with BJP emerging as the single largest party but not getting a majority. <keyword id="21129157" type="General" weightage="20" keywordseo="exit-polls" source="keywords">Exit polls</keyword> on Saturday predicted that Prime Minister Modi will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls. Congress general secretary <keyword id="20035989" type="General" weightage="20" keywordseo="Jairam-Ramesh" source="keywords">Jairam Ramesh</keyword> in a post on X said the exit polls have been completely exposed for what they were -- "a <keyword id="21932465" type="General" weightage="20" keywordseo="total-sham" source="Orion">total sham</keyword>." "Trends for all 543 seats are now available. The following have become clear: It will be a staggering political and decisively moral defeat for Mr. Narendra Modi," Ramesh said. He said it has also become clear that "the exit polls that he orchestrated have been completely exposed for what they were--a total sham." Early trends from counting of votes on Tuesday threw up disappointing results for the BJP-led NDA in the Lok Sabha elections, which appears to be losing heavily in its strongholds of Uttar Pradesh, Haryana and Rajasthan although it is expected to form the government with about 290 seats. On its own, the BJP appeared to be falling below the majority mark with leads in 240 seats despite significant gains in Odisha, Telangana and Kerala, giving some solace to the party after the unexpected losses in the Hindi belt.

Election trends show moral defeat for Narendra Modi, expose exit polls as a "total sham": Congress general secretary

The <keyword id="20288056" type="General" weightage="20" keywordseo="BJP-led-NDA" source="keywords">BJP-led NDA</keyword> on Tuesday surged ahead with leads in more than 200 <keyword id="21073505" type="General" weightage="20" keywordseo="parliamentary-seats" source="keywords">parliamentary seats</keyword> out of 350 for which trends were available, with opposition <keyword id="19895684" type="General" weightage="20" keywordseo="INDIA-bloc" source="keywords" meta.keywordsubtype="org" meta.entityname="INDIA bloc" meta.hostid="261" meta.entityid="INDIA bloc">INDIA bloc</keyword> ahead in 120, according to television reports. India Today gave leads in 205 seats to the NDA, while the INDIA bloc was ahead in 129; ABP News gave 230 to the NDA and 120 to the opposition alliance; and NDTV showed NDA leading in 194 seats with INDIA bloc closing in on 135 seats. Counting of votes for the <keyword id="56978" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="Orion">Lok Sabha elections</keyword> has begun across states and Union Territories, Chief Election Commissioner Rajiv Kumar told PTI. According to the Conduct of Election Rules, postal ballots were taken up for counting first and the process of counting of votes recorded in electronic voting machines (EVMs) began 30 minutes later. The process of counting votes cast through postal ballots and EVMs will continue simultaneously. <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div> While the Lok Sabha has 543 members, counting is being held for 542 seats after the BJP's Surat candidate Mukesh Dalal was elected unopposed. Counting of votes is also underway for the assembly polls in Andhra Pradesh and Odisha, where polling was held simultaneously with the Lok Sabha elections. Elections to the assemblies of Arunachal Pradesh and Sikkim were also held alongside the Lok Sabha polls. The results of these elections were declared on June 2. Since 2019, VVPAT (voter verifiable paper audit trail) slips from five randomly selected polling stations per assembly constituency -- or segment in case of Lok Sabha seats -- are matched with the EVM count for greater transparency.

Lok Sabha elections results: INDIA bloc leads in 120 seats in early trends; BJP-led NDA crosses 200 mark

New Delhi [India], June 4 (ANI): With counting progressing in <keyword id="19912155" type="General" weightage="20" keywordseo="Lok-Sabha-polls" source="keywords">Lok Sabha polls</keyword>, the Bharatiya Janata Party-led <keyword id="20344628" type="General" weightage="20" keywordseo="National-Democratic-Alliance" source="keywords" meta.keywordsubtype="org" meta.entityname="National Democratic Alliance" meta.hostid="261" meta.entityid="National Democratic Alliance">National Democratic Alliance</keyword> is leading on more than 100 seats as per the latest trends according to TV channels. Around 642 million people voted in Lok Sabha elections held over seven phases in a mammoth six-week period. The counting of votes began starting with postal ballot papers amid tight security. The counting for State Legislative Assemblies of 175 Assembly constituencies in Andhra Pradesh and 147 Assembly constituencies in Odisha and results of bypolls in 25 Assembly constituencies also began. The Lok Sabha elections for 543 seats of the lower house were held across seven phases. The <keyword id="19931558" type="General" weightage="20" keywordseo="Bharatiya-Janata-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharatiya Janata Party" meta.hostid="261" meta.entityid="Bharatiya Janata Party">Bharatiya Janata Party</keyword> is eyeing a third straight term in power, while the Opposition under the umbrella of the <keyword id="19895684" type="General" weightage="20" keywordseo="INDIA-bloc" source="keywords" meta.keywordsubtype="org" meta.entityname="INDIA bloc" meta.hostid="261" meta.entityid="INDIA bloc">INDIA bloc</keyword> is seeking to wrest power from the ruling party.Most exit polls predicted a straight term for Prime Minister Narendra Modi, with quite few of them projecting a two-thirds majority for the ruling BJP-led National Democratic Alliance (<keyword id="41281" type="General" weightage="20" keywordseo="NDA" source="Orion">NDA</keyword>). The Congress party and its allies dismissed the exit polls as "orchestrated" and a work of "fantasy", asserting that the opposition INDIA bloc will form the next government at the Centre. Strict security has been put in place for the smooth conduct of counting of votes for over 8,000 candidates in this general election. With counting began for the Lok Sabha elections, which have seen the largest voter participation, the electoral fate of several leaders across the political spectrum will be decided. Prime Minister Narendra Modi, Home Minister Amit Shah, and Defence Minister Rajnath Singh are among the senior BJP leaders in the fray. Key opposition leaders, including former Congress chief Rahul Gandhi, NCP's Supriya Sule, and Samajwadi Party chief Akhilesh Yadav, are also contesting the poll. Two polls predicted the BJP would also improve its numbers from the 303 seats it won in the 2019 Lok Sabha polls. In the 2019 elections, NDA wrested 353 seats, of which the BJP won 303 alone. The Opposition's UPA got only 93 seats of which the Congress got 52. Even before the counting of the votes, the Bharatiya Janata Party won one seat of Surat Lok Sabha. Earlier on April 22, Mukesh Dalal won the election "unopposed". Congress nominee Nilesh Kumbhani's nomination was rejected. His candidacy was rejected because of alleged discrepancies in the signatures of the proposers.

Lok Sabha election results: BJP-led NDA leading in 100 plus seats in early trends

New Delhi [India], June 4 (ANI): With counting slated for today for the <keyword id="19923279" type="General" weightage="20" keywordseo="Lok-Sabha-elections" source="keywords">Lok Sabha elections</keyword>, which have seen the largest voter participation, the electoral fate of several leaders across the political spectrum will be decided. Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword>, Home Minister <keyword id="19899491" type="General" weightage="20" keywordseo="Amit-Shah" source="keywords">Amit Shah</keyword> and Defence Minister Rajnath Singh are among the senior BJP leaders in the fray. Key opposition leaders, including former Congress chief <keyword id="19895780" type="General" weightage="20" keywordseo="Rahul-Gandhi" source="keywords">Rahul Gandhi</keyword>, NCP's <keyword id="20083020" type="General" weightage="20" keywordseo="Supriya-Sule" source="keywords">Supriya Sule</keyword> and Samajwadi Party chief Akhilesh Yadav, are also contesting the poll. <div type="javascript" title="Custom" contenttype="Infographic"><cdata><![CDATA[]]></cdata></div> Here is a look at some key contests involving prominent leaders: 1. Narendra Modi: Prime Minister Modi, is seeking a third term from Varanasi, the constituency that paved his way to the Lok Sabha after his stint as Chief Minister. He is pitted against Congress leader and INDIA bloc candidate Ajay Rai. PM Modi won the seat by huge margins in 2014 and 2019. 2. Amit Shah: The Union Home Minister entered the Lok Sabha in 2019 from Gandhinagar and is seeking his second straight term from the seat, which has been held by BJP veterans in the past. Shah, who earlier served as BJP President, is against Congress candidate Sonal Patel. 3. Rahul Gandhi: Congress leader Rahul Gandhi is contesting the Lok Sabha elections from two seats -- Wayanad and Raebareli. Gandhi, who lost the family bastion seat of Amethi in 2019 and entered the Lok Sabha from Wayanad, is aiming to maintain the party's lone bastion left in the state. He is up against BJP's Dinesh Pratap Singh and BJP's K. Surendran, as well as CPI-M's Annie Raja in Wayanad. 4. Supriya Sule and <keyword id="20734555" type="General" weightage="20" keywordseo="sunetra-pawar" source="keywords">Sunetra Pawar</keyword>: The Baramati constituency is another 'hot seat' that will decide the future of the 'Pawar' legacy. NCP supremo Sharad Pawar's daughter Supriya Sule is against his cousin Ajit Pawar's wife, Sunetra Pawar, from the seat. The exit polls have predicted a tight contest. 5. <keyword id="42749" type="General" weightage="20" keywordseo="Shashi-Tharoor" source="Orion">Shashi Tharoor</keyword>: Congress leader Shashi Tharoor, who is a three-time MP from Thiruvananthapuram, is facing a three-way contest against BJP's Rajeev Chandrasekhar and CPI-M's Panniyan Ravindran. The exit polls have predicted a tight contest. 6. K. Annamalai: BJP Tamil Nadu chief and rising face in the south, K Annamalai, is aiming to make the party's inroads in the state. Contesting from Coimbatore, the former cop is up against DMK leader Ganapathy P Rajkumar and AIADMK's Singai Ramachandran. 7. Rajnath Singh: Defence Minister Rajnath Singh is seeking a third term from Lucknow. The former Uttar Pradesh CM served as the Home Minister in BJP's first term and Defence Minister in the second term. Singh is facing SP candidate Ravidas Mehrotra and BSP candidate Sarwar Malik. 8. Abhishek Banerjee: As the BJP is aiming to make further inroads in West Bengal, and TMC is looking to maintain its fortress, TMC general secretary and Chief Minister Mamata Banerjee's nephew Abhishek Banerjee is contesting from Diamond Harbour seeking a second term from the seat. Banerjee is pitted against CPI(M) candidate Pratikur Rahaman and BJP's Abhijit Das. 9. Akhilesh Yadav: Former Uttar Pradesh CM and Samajwadi Party chief Akhilesh Yadav made a surprise entry in the Lok Sabha polls, announcing his candidature from Kannauj. Yadav, who is an MLA from Karhal assembly constituency, is facing incumbent MP and BJP leader Subrat Pathak. 10. Asaduddin Owaisi: The Hyderabad constituency is bracing for a big showdown with four-time MP and All India Majlis-e-Ittehadul Muslimeen chief Asaduddin Owaisi facing a challenge against BJP candidate and actor-turned-politician Madhavi Latha. The Lok Sabha elections for 543 seats of the lower house were held across seven phases. The counting of votes will take place on Tuesday, June 4. The Bharatiya Janata Party is eyeing a third straight term in power, while the Opposition under the umbrella of the INDIA bloc is seeking to wrest power from the ruling party. Meanwhile, all the exit polls have predicted the BJP returning to power with a resounding majority, with further inroads in Odisha, West Bengal, and southern states.

From Modi and Shah to Gandhi and Tharoor, here's a look at some key Lok Sabha seats ahead of election results

A bill seeking to provide for four nominees by a bank account holder was introduced in the <keyword id="19895394" type="General" weightage="20" keywordseo="Lok-Sabha" source="keywords" meta.keywordsubtype="org" meta.entityname="Lok Sabha" meta.hostid="153" meta.entityid="Lok Sabha">Lok Sabha</keyword> on Friday to ensure better protection of depositors and enhance customer convenience. Introduced by Minister of State for Finance Pankaj Chaudhary in the Lower House, the Banking Laws (Amendment) Bill, 2024, has a provision for simultaneous and successive nominations to bank accounts, lockers, etc. As per the provision of the bill, a bank account holder can nominate up to four persons. The bill also seeks to transfer of unclaimed dividends, shares, and interest or redemption of bonds to the Investor Education and Protection Fund (IEPF), allowing individuals to claim transfers or refunds from the fund, and thus safeguarding investors' interests. As the banking sector has evolved over the years, and with a view to improving bank governance and investor protection, it has become necessary to make certain amendments to five Acts, according to Statement of Objects and Reasons of the Bill. The Bill, which was approved by the <keyword id="19916620" type="General" weightage="20" keywordseo="Union-Cabinet" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Cabinet" meta.hostid="153" meta.entityid="Union Cabinet">Union Cabinet</keyword> last week, proposes to amend the <keyword id="20824389" type="General" weightage="20" keywordseo="Reserve-Bank-of-India-Act" source="keywords">Reserve Bank of India Act</keyword>, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980. The proposed bill seeks to improve governance standards, provide consistency in reporting by banks to the Reserve Bank of India, ensure better protection for depositors and investors, improve audit quality in public sector banks, bring customer convenience in respect of nominations, and to provide for increase in the tenure of the directors in co-operative banks. Another proposed change relates to redefining 'substantial interest' for directorships, which could increase to Rs 2 crore instead of the current limit of Rs 5 lakh, which was fixed almost six decades ago. Congress member Manish Tewari opposed the introduction of the bill, saying the power to legislate with regard to cooperatives vests with state governments. RSP member N K Premachandran opposed amending five legislations through one bill, while TMC member Saugata Roy termed the bill "superfluous", saying the the amendments proposed in the bill could have been done through administrative decisions. Responding to opposition's remarks, <keyword id="19956758" type="General" weightage="20" keywordseo="Finance-Minister" source="keywords">Finance Minister</keyword> Nirmala Sitharaman said the various amendments done in Banking Regulations Act with respect to <keyword id="20814377" type="General" weightage="20" keywordseo="cooperative-banks" source="keywords">cooperative banks</keyword> are not just one or two but several. "Simple understanding is we are not touching any aspect of the cooperatives other than that which claims under the name of banking...the sections which have been brought in for amendments, as also the court verdicts, have repeatedly reinforced the point that Banking Regulation Act and the Cooperative Banks do have this relationship and therefore it has to be taken through this route," she said. Otherwise, there is no attempt to undermine the cooperatives, particularly cooperatives dealing with everything other than banks, she said defending the Bill. The bill proposes to increase the tenure of directors (excluding the chairman and whole-time director) in cooperative banks from 8 years to 10 years, so as to align with the Constitution (Ninety-Seventh Amendment) Act, 2011. Once passed, the bill would allow a director of a Central Cooperative Bank to serve on the board of a State Cooperative Bank. The bill also seeks to give greater freedom to banks in deciding the remuneration to be paid to statutory auditors. It also seeks to redefine the reporting dates for banks for regulatory compliance to the 15th and last day of every month, instead of the second and fourth Fridays. "What's the rationale behind it? The current reporting Friday system has several limitations that impact the accuracy and effectiveness of the reporting of data. "These limitations are incomplete coverage of monthly data, seasonal fluctuations in banking activity which lead to inconsistent reporting, and the need for adjustment every 11th year which introduces complications and inconsistencies. That is why, in order to address the issue, it is proposed to amend the legislation," she said. The announcement about amendments to the Banking Regulation Act was made by the Finance Minister in the 2023-24 Budget speech. "To improve bank governance and enhance <keyword id="22728161" type="General" weightage="20" keywordseo="investors-protection" source="keywords">investors' protection</keyword>, certain amendments to the Banking Regulation Act, the Banking Companies Act and the Reserve Bank of India Act are proposed," she had said.

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