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Over 65 lakh students did not pass <keyword id="19951608" type="General" weightage="20" keywordseo="class-10" source="keywords">class 10</keyword> and 12 <keyword id="19954615" type="General" weightage="20" keywordseo="board-exams" source="keywords">board exams</keyword> across the country last year with the failure rate being higher in <keyword id="22866974" type="General" weightage="20" keywordseo="state-boards" source="keywords">state boards</keyword> than the central board, according to Ministry of Education (<keyword id="20349630" type="General" weightage="20" keywordseo="MoE" source="keywords">MoE</keyword>) officials. An analysis of class 10 and 12 results of 59 school boards, including 56 state boards and three national boards, revealed that more girls appeared in class 12 exam from government-managed schools but it is opposite in private schools and government-aided schools. "Around 33.5 lakh students of class 10 are not reaching next grade. While 5.5 lakh candidates did not appear, 28 lakh failed. This is one of the cause for low retention rate and Gross Enrolment Ration (GER) at higher secondary level," a senior MoE official said. Similarly, around 32.4 lakh class 12 students did not complete the grade. While 5.2 lakh did not appear, 27.2 lakh failed. In class 10, the student failure rate in central board stood at 6 per cent while that of state boards was much higher at 16 per cent. In class 12, the failure rate at central board is 12 per cent while that of state boards is 18 per cent. The ministry officials noted that the open school performance was poor in both the classes. The highest number of student failure in class 10 was in Madhya Pradesh board followed by Bihar and UP. While in class 12, the highest student failure was reported from Uttar Pradesh followed by Madhya Pradesh. "Overall performance of students in 2023 declined in comparison with previous year. This could be due to larger syllabus for examination," the official said. More girls appeared for class 10 and 12 board exams from government schools than boys. "This may reflect gender bias while spending on education by parents. However, girls dominates in pass performance across government, aided and private schools," the official said. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Over 65 lakh students failed class 10, 12 exams in 2023; higher failure rate in state boards: MoE

"More than any other country," Lyndon B. Johnson once said of America, "ours is an automobile society." He wasn't exaggerating: Americans own more cars per capita than the citizens of any other nation. More than any other technology, the automobile has shaped America's economy, infrastructure, climate, culture, and identity. From Motown to Tesla, from "On the Road" to "The Fast and the Furious," nothing captures our all-American obsession with speed, freedom, and individuality like the vehicles we drive.Explore the United States of Automobiles• <a target="_blank" class="" href="https://www.businessinsider.com/america-most-popular-car-models-state-city-county-geography-2024-10">Check out the cars your neighbors love most</a>• <a target="_blank" class="" href="https://www.businessinsider.com/car-models-owned-by-republicans-democrats-american-politics-jeep-2024-10">What our rides reveal about our politics</a>• <a target="_blank" class="" href="https://www.businessinsider.com/why-car-colors-boring-black-white-gray-cost-cutting-2024-10">Cars used to be really colorful. What happened?</a>• <a target="_blank" class="" href="https://www.businessinsider.com/methodology-for-car-database-united-states-of-automobiles-2024-10">How we crunched the numbers</a>To provide a comprehensive road map of America's automotive psyche, Business Insider took a close look at what's actually on the road today. Combing through 1.7 million listings on CarGurus, <a target="_blank" class="" href="https://www.businessinsider.com/methodology-for-car-database-united-states-of-automobiles-2024-10">we analyzed thousands of makes and models</a> in three key areas: geographic location, political preference, and color. The result is an illuminating — and interactive — guide to what drives America. Where is your car most popular? What do your <a target="_blank" class="" href="https://www.businessinsider.com/america-most-popular-car-models-state-city-county-geography-2024-10">neighbors drive</a>? Which rides are most <a target="_blank" class="" href="https://www.businessinsider.com/car-models-owned-by-republicans-democrats-american-politics-jeep-2024-10">Republican or Democratic</a>? And why does it seem as if every vehicle on the road today is either <a target="_blank" class="" href="https://www.businessinsider.com/why-car-colors-boring-black-white-gray-cost-cutting-2024-10">white, black, or gray</a>?<h2 id="00c14bd8-67f3-4f47-94a3-2de1ac4f09a2">Which car brands dominate which states?</h2>More than anything, the data confirms a deeply American trait: We are what we drive. No other choice we make as consumers conveys more information about how we see ourselves — and how we wish to be seen. We use our cars to flaunt our financial status, express our aesthetic leanings, signal our tribal loyalties, and reflect our hopes and fears. Do we opt for size over efficiency? Safety over style? Exclusivity over economy? Whether we're cocooned inside the fortified cabin of a street-legal tank or smugly piloting a Prius to the next community board meeting, how we navigate the world says something about what we think there is to navigate.So sit back, buckle up, and take the charts and maps we've assembled for a spin. By entering your own vehicle and town, you can compare what you drive with the makes and models favored by the rest of the country. In the process, you'll discover where you fit in today's automotive landscape — and how that terrain is changing, for better and worse.<h2 id="82d15b24-705b-464d-8e20-d0e9ebecd1a9">Find your car's natural habitat</h2> Text by <a target="_blank" href="https://www.businessinsider.com/author/mark-healy">Mark Healy</a>, founder of Flipturn Creative Studios. Data by <a target="_blank" href="https://www.businessinsider.com/author/andrew-thompson">Andrew Thompson</a>, creator of <a target="_blank" href="https://components.one/">Components</a>, a cultural research project.

The United States of Automobiles

<ul class="summary-list"><li>The "TSA tray aesthetic" trend is taking over <a target="_blank" class="" href="https://www.businessinsider.com/tiktok-ban-app-american-us-not-worried-2024-9">TikTok</a> with over 16 million posts.</li><li>Some creators are having fun with their flat lays, while others are just documenting their travel.</li></ul>In the ever-evolving world of travel trends, it's time to say goodbye to raw-dogging — flying without devices or any other distractions — and hello to the "TSA tray aesthetic."Gen Z's fall travel trend requires participants to conceptualize, style, and photograph their personal belongings at the TSA's <a target="_blank" class="" href="https://www.businessinsider.com/american-express-platinum-card-perks-annual-fee-worth-it-2024-5">airport security</a> checkpoint before hopping on their flight.The "TSA tray aesthetic" has been all over TikTok for the past few weeks, with over 16 million related posts drawing thousands of views.Before her trip to Mexico, 24-year-old creator Ckalysta Hutchings made one such video, in which she artfully arranged her personal belongings in a gray bin.In her video, she shows an iPad in a black textured case, matching headphones, a pair of sunglasses, a <a target="_blank" class="" href="https://www.businessinsider.com/rhode-hailey-bieber-addressed-golloria-georges-pocket-blush-issues-2024-9">Rhode Beauty</a> lip gloss on a gray iPhone cover, and a blush, which are methodically positioned. "We just got a bin and snapped a few photos in under 10 minutes," Hutchings told Business Insider, emphasizing that she and her sister had only done so "after we had gone through security."Like many other people her age, Hutchings uses <a target="_blank" class="" href="https://www.businessinsider.com/how-to-grow-online-business-with-pinterest-social-media-2024-8">Pinterest</a> to plan her trips. From outfits and accessories to aesthetically arranging her airport security bins, everything is conceptualized in advance. She thinks of it as a way of organizing her life and planning for what's next.Not everyone can creatively thrive under airport security pressure, though. Some, like Vicki Rutwind, a former lawyer turned travel content creator, prefer photographing in the comfort of their home. That meant purchasing a plastic security bin before travel to keep up with the trend."I created my video all in one afternoon in my kitchen. I am not a put-together person at the airport, and I fly a lot," Rutwind told BI. <h2 id="f554022e-56f6-4c2e-8d08-117598ff51f4"> A travel ritual before it turned into a viral trend</h2>The practice isn't totally new, though. When Emily Abbate, a former magazine editor and current podcast host of <a target="_blank" class="" href="https://www.hurdle.us/">Hurdle</a>, began traveling a lot for work in 2015, she wanted a unique and quick way to capture her adventures.That's when she turned to airport bins and began putting together flat lays."I started throwing a few things into my bag before I would travel that would be indicative of where I was heading," she told BI, adding that she only took photos after going through security and taking her tray off to the side.Her items included a mix of practical products, such as a Lonely Planet book on Paris when she attended the <a target="_blank" class="" href="https://www.businessinsider.com/olympian-adeline-gray-raising-twins-harder-than-the-olympics-2024-9">Olympics</a> earlier this year, or a pair of sneakers if she collaborated with a particular brand.Abbate saw this as a fun way to commemorate her travels. While she has not participated in the recent viral trend, she understands its value."I found it really fun to look back at [them] end of the year and have a personal scrapbook of all the cool places that I had been to," she said. Rutwind also considers it a unique way to relive her travels. Upon seeing the trend, she ordered a $17 bin on <a target="_blank" class="" href="https://www.businessinsider.com/rto-amazon-relocate-remote-work2024-8">Amazon</a> — which doubles as a storage bin — and then styled it using different colorways representing destinations and products, such as a pair of red sneakers and matching NARS lipstick for Paris or a pair of blue Adidas and matching knitwear for Santorini.<h2 id="8546f31a-1967-464e-8355-166a8095db7f">Some lifestyle brands and creators are monetizing this trend</h2>From fashion label Reiss to publishing house Faber, brands have participated in the trend by showcasing a collection of products — books, mules, designer knitwear, or claw clips — that would be part of their "airport aesthetic.""This trend specifically aligned perfectly for us, curating an aesthetic selection whilst focusing on our travel-friendly products," storage solutions brand Stackers told <a target="_blank" class="" href="https://www.cnn.com/2024/09/08/travel/why-people-are-making-videos-of-their-airport-trays-now/index.html">CNN</a>. Lifestyle <a target="_blank" href="https://businessinsider.com/what-is-onlyfans-content-platform-explained-2024-4">content creators</a>, like Symphani Soto, have also used the microtrend to boost their personal brands, arranging everyday essentials she uses and linking them to their LikeToKnow.It or <a target="_blank" class="" href="https://www.businessinsider.com/ltk-weapon-against-affiliate-competition-from-youtube-shopping-tiktok-2024-7">LTK</a>, an e-commerce platform that allows creators to share and sell products from partner brands."It's just a fun way to curate what I actually use every day and <a target="_blank" class="" href="https://liketk.it/4MKZa">share</a> with people; if they want to purchase something like a lipstick or a bag, for instance, they can automatically go over there and purchase it," Soto told BI.<h2 id="0b7a2dbe-e128-4773-a54d-7f43dc6b4417">Not everyone is on board with the trend</h2>When Caleb Harmon-Marshall, a former <a target="_blank" class="" href="https://www.businessinsider.com/ex-tsa-agent-what-not-to-do-during-air-travel-2024-1">TSA agent</a>, started receiving calls from his old co-workers stating that several people at the airport were holding up the lines to take photos of their bins, he knew he had to say something.Since leaving his job, Harmon-Marshall has run a travel newsletter, <a target="_blank" class="" href="https://gateaccess.substack.com/">Gate Access</a>, which focuses on passengers' flight and security rights. So he decided to make a video and "not tell people not to do it, but just be mindful of the people behind you," he told BI.Harmon-Marshall isn't the only one to flag this. Several news outlets have reported that some <a target="_blank" class="" href="https://www.businessinsider.com/acquisition-spree-in-influencer-marketing-is-bolstering-the-creator-economy-2024-9">influencers</a> have made what's already an annoying part of traveling even worse by holding up the lines.Creators who spoke to Business Insider emphasized they would never hold up the security line or encourage their followers to do so.A TSA representative told BI they're aware of the trend and that "as long as the staged glamor photos are not causing delays or issues with other passengers in the checkpoint, there are no issues."The spokesperson added that people who wish to snap their bins should do so after they've crossed security and that "setting up a bin 'just so' for that ideal <a target="_blank" class="" href="https://www.businessinsider.com/names-easy-spell-for-kids-2024-9">social media</a> photo might take a minute or two, so best to go through the security checkpoint and take the photo afterward. At that point, take all of the time you want to set up the bin."As with most online <a target="_blank" class="" href="https://www.businessinsider.com/popular-trends-interior-designers-dont-like-get-rid-of">fads</a>, this one has received strong and mixed reactions from people online.Hutchings said she had a series of hate comments on her video, but what really matters is "how you, as an individual, feel about your feed."The cute photos she uploads make her happy and hopefully inspire others, so, she said, "at the end of the day, if it's not for you, keep scrolling."

TikTokers are taking 'aesthetic' photos of their TSA trays in the latest travel trend. But not everyone's on board.

<ul class="summary-list"><li>OpenAI announced its new Safety and Security Committee — and CEO Sam Altman isn't on it.</li><li>The committee now includes only independent board members, addressing previous criticism.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/history-of-openai-company-chatgpt-elon-musk-founded-2022-12#in-2021-openai-released-an-ai-art-generator-11">OpenAI</a> just announced the members of its revamped <a target="_blank" class="" href="https://www.businessinsider.com/openai-mess-concerns-over-nda-safety-sam-altman-2024-6">Safety and Security Committee</a>, and CEO Sam Altman is not on the list.The group will consist only of <a target="_blank" class="" href="https://www.businessinsider.com/openai-board-member-details-sam-altman-lied-allegation-ousted-2024-5">independent board members</a>, providing relief to critics who questioned if the committee could really serve its function as a watchdog if its CEO was part of it. Bret Taylor, OpenAI's chair, has also stepped down from the committee.The committee was first formed in May, following a <a target="_blank" class="" href="https://www.businessinsider.com/openai-leadership-changes-brockman-deng-schulman-anthropic-departures-2024-8">series</a> of <a target="_blank" class="" href="https://www.businessinsider.com/openai-leadership-shakeup-jan-leike-ilya-sutskever-resign-chatgpt-superalignment-2024-5#:~:text=Business%20Insider%20reported%20last%20week,sent%20outside%20standard%20working%20hours.">high-level departures</a> who publicly worried that the ChatGPT maker <a target="_blank" class="" href="https://www.businessinsider.com/former-openai-board-members-challenge-self-governance-sam-altman-2024-5">could not govern itself</a> and was <a target="_blank" class="" href="https://www.businessinsider.com/openai-brain-drain-isnt-great-for-sam-altman-competition-2024-8">no longer acting responsibly</a> about artificial intelligence. When the group was announced, Altman, Taylor, and five OpenAI technical and policy experts were <a target="_blank" class="" href="https://openai.com/index/openai-board-forms-safety-and-security-committee/">named</a> to the committee, alongside the independent board members.The reworked committee is now chaired by Zico Kolter, a professor at Carnegie Mellon University, and includes Quora co-founder and CEO Adam D'Angelo, retired US Army General Paul Nakasone, and Nicole Seligman, the former general counsel of Sony Corporation, according to a company blog post. All four are also on OpenAI's board of directors.The safety committee will "exercise oversight over model launches, including having the authority to delay a release until safety concerns are addressed," the blog post said. The post also said that the committee reviewed the safety assessment of <a target="_blank" class="" href="https://www.businessinsider.com/openai-o1-ai-model-agi-2024-9">o1, a series of AI models</a> "designed to spend more time thinking before they respond."<h2 id="b1701940-59ba-4403-b255-ee3641c5b9c7">OpenAI's troubles</h2>Last month, the company battled to stop an AI safety bill in California, saying it <a target="_blank" class="" href="https://www.businessinsider.com/openai-tech-giants-oppose-california-ai-bill-kill-switch-2024-8">would stifle progress </a>and drive companies out of the state.<a target="_blank" rel="" class="" href="https://www.businessinsider.com/openai-whistleblowers-oppose-safety-bill-sb1047-2024-8">Former OpenAI employees</a> said that the company's opposition to the bill was disappointing — but in line with its recent path."We joined OpenAI because we wanted to ensure the safety of the incredibly powerful AI systems the company is developing," former OpenAI researchers, William Saunders and Daniel Kokotajlo, wrote in the letter. "But we resigned from OpenAI because we lost trust that it would safely, honestly, and responsibly develop its AI systems."The company has found itself in the crosshairs of other recent scrutiny, too.In July, <a target="_blank" rel="" class="" href="https://www.businessinsider.com/read-letter-openai-whistleblowers-sent-sec-action-nda-2024-7">whistleblowers at OpenAI</a> contacted the Securities and Exchange Commission, calling for the agency to investigate the company for rule violations around NDAs. Weeks before that, nine current and former <a target="_blank" rel="" class="" href="https://www.businessinsider.com/openai-employee-letter-google-deepmind-ai-risks-protections-2024-6">OpenAI employees signed an open letter</a> pointing out the risks of generative AI. OpenAI's <a target="_blank" class="" href="https://www.businessinsider.com/marissa-mayer-comments-openai-board-broken-2023-11">corporate governance structure</a> has confused Silicon Valley. In 2019, the company moved from a nonprofit to a capped profit structure, and recent reports said that Altman may turn it into a <a target="_blank" class="" href="https://www.businessinsider.com/sam-altman-mulls-turning-openai-into-a-regular-company-2024-5">regular, for-profit company</a> after all.Last week, Bloomberg<a target="_blank" rel="" class="" href="https://www.businessinsider.com/openai-fighting-to-keep-ilya-sutskevers-files-secret-in-lawsuit-2024-9"> reported </a>that OpenAI is raising money at a $150 billion valuation — more than the market capitalization of over 88% of S&amp;P 500 firms, including Goldman Sachs, Uber, and BlackRock.

Sam Altman is leaving a key OpenAI board. His departure should satisfy some big critics.

<keyword id="19930802" type="General" weightage="100" keywordseo="Jay-Shah" source="keywords">Jay Shah</keyword>, the current Secretary of the Board of Control for Cricket in India (BCCI), has been elected unopposed as the new <keyword id="19901179" type="General" weightage="20" keywordseo="International-Cricket-Council" source="keywords">International Cricket Council</keyword> (ICC) Chairman. Shah, who will officially take up the role on December 1, 2024, is set to make history as the youngest individual to ever lead the global governing body for cricket. "I am humbled by the nomination as the Chair of the International Cricket Council. I am committed to working closely with the ICC team and our member nations to further globalise cricket," Shah stated in a release issued by the ICC. In his statement, Jay Shah highlighted the goals he has planned to set for his tenure. “We stand at a critical juncture where it is increasingly important to balance the coexistence of multiple formats, promote the adoption of advanced technologies, and introduce our marquee events to new global markets. Our goal is to make cricket more inclusive and popular than ever before," he said. Jay Shah’s involvement in <keyword id="22941138" type="General" weightage="20" keywordseo="cricket-administration" source="keywords">cricket administration</keyword> spans over ten years. He previously served as joint secretary of the Gujarat Cricket Association before being elected unopposed as <keyword id="20593546" type="General" weightage="20" keywordseo="BCCI-Secretary" source="keywords">BCCI Secretary</keyword> in October 2019. Since 2021, he has also held the position of Chairperson of the Asian Cricket Council. The appointment of Shah as the <keyword id="22895734" type="General" weightage="20" keywordseo="ICC-chairman" source="keywords">ICC chairman</keyword> has sparked controversy due to his connections. His father, <keyword id="19899491" type="General" weightage="20" keywordseo="Amit-Shah" source="keywords">Amit Shah</keyword>, is India’s Home Minister and a close associate of Prime Minister Narendra Modi. Critics argue that this raises concerns about nepotism and the merging of cricket with politics in India. Shah's own rise within cricket administration in Gujarat, where his father previously held the role of president of the Gujarat Cricket Association, further fuels these concerns. It will be interesting to see how, under the chairmanship of Jay Shah, cricket grows on a higher level on the global pedestal.

Jay Shah elected unopposed as the new ICC chairman

Union Finance Minister Nirmala <keyword id="19916494" type="General" weightage="20" keywordseo="Sitharaman" source="keywords">Sitharaman</keyword> on Friday urged officers of the Central Board of Indirect Taxes and Customs (<keyword id="19908147" type="General" weightage="20" keywordseo="CBIC" source="keywords">CBIC</keyword>) to proactively address <keyword id="20283921" type="General" weightage="20" keywordseo="doubts" source="keywords">doubts</keyword> and concerns raised by the public and business community regarding taxes before they escalate into grievances. Speaking at the inauguration of the new <keyword id="22890667" type="General" weightage="20" keywordseo="GST-Bhawan" source="keywords">GST Bhawan</keyword> in Udaipur, Rajasthan, Sitharaman emphasized the importance of a preventive approach in handling tax-related issues. She highlighted that government officials should prioritize solving problems at the stage where they are mere doubts, rather than allowing them to develop into full-blown grievances. "Before addressing a grievance, if we spend time through outreach to clear the doubts and suspicions in their minds, those doubts won't escalate into grievances" said Finance Minister Sitharaman. Sitharaman also highlighted the significance of effective information sharing in this process. She suggested that by engaging in sector-wise outreach and addressing any doubts that arise, officials could prevent potential issues from turning into grievances. "I request that before grievances arise, we should definitely carry out outreach sector by sector. If there are any doubts in their minds after this and some changes need to be made accordingly, we can make those changes as well. So, more than anything else, we need to focus on information sharing" added Sithraman. The Finance Minister's remarks emphasized a shift towards a more communicative and responsive approach in tax administration, aiming to foster better relationships between the government and the business community while minimizing conflicts and misunderstandings. Union Minister Sitharaman is on a two-day visit to Udaipur, On Thursday the minister chaired a meeting to review the performance of nine Regional Rural Banks (RRBs) of the states of Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh and Rajasthan. The minister asked Regional rural banks (RRBs) to ensure easy credit to Micro, Small and Medium Enterprises (MSMEs). She asked the RRBs to become more customer-friendly and leverage their local connections to further improve performance. "All RRBs have devised customised MSME products aligning with cluster activities. However, they need to regularly review their credit portfolio in that segment", she said. She also highlighted that Sponsor Banks and RRBs must recognise the challenges that lie ahead, especially maintaining asset quality, expanding digital services, and ensuring robust corporate governance are the areas that require continued focus. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Sitharaman urges tax officials to prevent doubts from escalating into grievances

The <keyword id="19901179" type="General" weightage="20" keywordseo="international-cricket-council" source="keywords">International Cricket Council</keyword> (<keyword id="19901177" type="General" weightage="20" keywordseo="ICC" source="keywords">ICC</keyword>) is mulling a dedicated fund of at least USD 15 million for <keyword id="19935483" type="General" weightage="100" keywordseo="Test-cricket" source="keywords">Test cricket</keyword> that will help increase the players' match fee and address the migration of talent to lucrative <keyword id="22888428" type="General" weightage="20" keywordseo="T20-franchise-leagues" source="keywords">T20 franchise leagues</keyword>. The initiative, which was was proposed by <keyword id="19897940" type="General" weightage="20" keywordseo="Cricket-Australia" source="keywords">Cricket Australia</keyword> (CA), has the support of <keyword id="19901245" type="General" weightage="20" keywordseo="BCCI" source="keywords" meta.keywordsubtype="org" meta.entityname="BCCI" meta.hostid="261" meta.entityid="BCCI">BCCI</keyword> Secretary <keyword id="19930802" type="General" weightage="20" keywordseo="jay-shah" source="keywords">Jay Shah</keyword>, who is the front-runner to become the next ICC Chairman, and the <keyword id="20312896" type="General" weightage="20" keywordseo="England-and-Wales-Cricket-Board" source="keywords">England and Wales Cricket Board</keyword> (ECB), a report in 'The Sydney Morning Herald' stated. The fund would increase the minimum match payment for Test players and cover the cost of sending teams on overseas tours. It would support national boards like the West Indies that currently struggle to compete with the wages offered in global T20 competitions. "The fund would ensure a minimum Test payment for all players, thought to be USD 10,000, and pay the costs of overseas tours for struggling countries," the report stated. "It's fantastic to see some momentum behind the Test match fund," CA chairman <keyword id="21076759" type="General" weightage="20" keywordseo="mike-baird" source="keywords">Mike Baird</keyword>, who floated the concept in January, said. "We need to take away the barriers and encourage Test cricket to be the best of the best. To retain that history and that legacy, which goes alongside the newer forms of white ball cricket," he added. The fund is unlikely to benefit the three wealthiest cricket nations — India, Australia, and England — since they already offer substantial salaries to their players. However, how much money is available for Test cricket from the ICC is also likely to depend on a dispute with broadcaster Star, the report added. The Star network wants to renegotiate a 2022 broadcast deal with the ICC and reduce its value to half of the original cost of over USD three billion. The BCCI had introduced an incentive scheme for India's men's Test cricketers earlier this year to encourage players to prioritise Test cricket and reward consistent performances in the longest format of the game. Under the new scheme, a player who plays at least 75 per cent of India's Test matches in its annual cycle, from October to September, will earn a whopping Rs 45 lakh per match in addition to the Test match fees of Rs 15 lakh. The players who feature in the 50-75 per cent games bracket will earn a bonus of Rs 30 lakh per match. The non-playing members — if selected in the squad — will be paid half the amount.

ICC planning multi-million dollar fund to save Test cricket: Report

US short-seller <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="153" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> alleged that it suspects <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="153" meta.entityid="Sebi">SEBI</keyword>'s unwillingness to act against <keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="153" meta.entityid="Adani Group">Adani group</keyword> may be because its head Madhabi Puri Buch had stakes in <keyword id="20311680" type="General" weightage="20" keywordseo="offshore-funds" source="keywords">offshore funds</keyword> linked to the conglomerate - an allegation slammed by the SEBI head as "baseless" while Adani group said it never had any commercial relations with Buch. Hindenburg alleged that Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius, the same entities allegedly used by <keyword id="20283220" type="General" weightage="20" keywordseo="Vinod-Adani" source="keywords">Vinod Adani</keyword> - the elder brother of group chairman Gautam Adani - to round-trip funds and inflate stock prices. SEBI, in October 2020, began a probe into the shareholding structure of Adani group companies after red flags were raised over the high concentration of foreign holdings in the conglomerate's listed companies. An investigation was launched to determine if the foreign investors were genuine public shareholders or acting as fronts for the promoters. SEBI, last year had told a Supreme Court-appointed panel that it was investigating 13 opaque offshore entities that held between 14-20% across five publicly traded stocks of the conglomerate. It hasn't stated if the two probes have since been completed, something which Hindenburg used to attack the market regulator. Madhabi Puri Buch and her husband Dhaval Buch in a joint statement strongly denied the "baseless allegations and insinuations made in the report". The same, they said, "are devoid of any truth". "Our life and finances are an open book," they said. "It is unfortunate that Hindenburg Research against whom SEBI has taken an enforcement action and issued a show cause notice, has chosen to attempt character assassination in response to the same." Buchs further said they have no hesitation in disclosing any financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. While the statement did not talk about the questions Hindenburg raised over SEBI probe, the duo promised to come out with a detailed response. Separately, Adani group in a regulatory filing called the allegations by Hindenburg as "malicious, mischievous and manipulative selections of publicly available information to arrive at predetermined conclusions for personal profiteering with wanton disregard for facts and the law." "The Adani Group has absolutely no commercial relationship with the individuals or matters mentioned in this calculated deliberate effort to malign our standing," it said. "We remain steadfastly committed to transparency and compliance with all legal and regulatory requirements". Rejecting the allegations, it said they were nothing but a "recycling of discredited claims that have been thoroughly investigated, proven to be baseless, and already dismissed by the Supreme Court in March 2023." "It is reiterated that our overseas holding structure is fully transparent, with all relevant details disclosed regularly in numerous public documents," Adani group said, adding Anil Ahuja was a nominee director of 3i investment fund in Adani Power (2007-2008) and, later, a director of Adani Enterprises until 2017. "For a discredited short-seller under the scanner for several violations of Indian securities laws, Hindenburg's allegations are no more than red herrings thrown by a desperate entity with total contempt for Indian laws," it added. Hindenburg on Saturday stated that the SEBI chairperson and her husband invested in offshore entities that were allegedly part of a fund structure managed by India Infoline, and in which Vinod Adani also had investments. These investments reportedly date back to 2015, well before her appointment as a full-time member of SEBI in 2017 and the subsequent elevation as chairperson in March 2022. It said the Bermuda-based Global Opportunities Fund, which allegedly was used by entities connected to Adani Group to trade in shares of group companies, had sub-funds. Buch and her husband were investors in one of these sub-funds in 2015. Citing "whistleblower documents", Hindenburg said, "<keyword id="22743118" type="General" weightage="20" keywordseo="Madhabi-Buch" source="keywords">Madhabi Buch</keyword>, the current chairperson of SEBI, and her husband had stakes in both obscure offshore funds used in the Adani <keyword id="22743230" type="General" weightage="20" keywordseo="money-siphoning" source="keywords">money siphoning</keyword> scandal." SEBI, it claimed, has "shown a surprising lack of interest in Adani's alleged undisclosed web of Mauritius and offshore shell entities." Buch and her husband may have first opened their account with IPE Plus Fund 1 on June 5, 2015, in Singapore. IPE fund is a small offshore Mauritius fund set up by Vinod Adani director through India Infoline (IIFL), a wealth management firm with ties to the Wirecard embezzlement scandal. "Vinod Adani, brother of Gautam Adani, used this structure to invest in Indian markets with funds allegedly siphoned from over-invoicing of power equipment to Adani Group," claimed Hindenburg. Latching on to the Hindenburg allegations, Congress said the revelations only reinforced its demand for setting up a "joint parliamentary committee to investigate the full scope of the Adani mega scam" while the Trinamool Congress said the SEBI chairperson must resign. "This raises fresh questions about Gautam Adani's two 2022 meetings in quick succession with Ms Buch shortly after she became SEBI chairperson. Recall that SEBI was supposedly investigating Adani transactions at the time," Congress leader Jairam Ramesh said. In January last year, Hindenburg Research, which in the past has shorted - or bet against - companies like electric truck maker Nikola Corp and Twitter, accused Adani Group of pulling "the largest con in corporate history" by using a web of companies in tax havens to inflate its revenue and manipulate stock prices, even as debt piled up. Though the conglomerate vehemently denied all allegations, the damning report sent the group's shares into a free fall, wiping out over USD 150 billion in market value of the 10 listed entities at their lowest point. Most of the 10 listed companies have since recouped the losses. After the Hindenburg report, the Supreme Court asked market regulator SEBI to complete its investigation and set up a separate expert panel to look into regulatory lapses. The panel did not give any adverse report on Adani and the apex court too stated that no other probe other than one being done by SEBI was required. On June 26 this year, SEBI in a show cause notice charged Hindenburg of "deliberately sensationalizing and distorting certain facts" as well as working with a New York hedge fund to make its bet. Hindenburg had responded to that saying it made just USD 4.1 million from its declared positions on Adani stocks and criticized the regulator for not focusing its investigation into the January 2023 report "providing evidence" of the conglomerate creating "a vast network of offshore shell entities" and moving billions of dollars "surreptitiously" into and out of Adani public and private entities. The group led by billionaire Gautam Adani, who was the world's third-richest man before Hindenburg, in an epic comeback strategy raised USD 15 billion in equity and debt, sold some assets, repaid loans that were raised pledging shares, reined in expenses, repaid some debt and refocused energies on core business. Adani is now ranked 12th richest in the world, one notch and USD 6 billion shy of rival billionaire Mukesh Ambani. The group has also made some acquisitions, buying cement company Sanghi Industries and the news agency IANS. Adani has insisted the Hindenburg report has not changed operations at his companies, which include ports, airports, renewable parks generating electricity from sunlight and wind energy, gas distribution, cement processors, data centers, and even apple farms. 360 One Wam Ltd, formerly known as IIFL Wealth Management Ltd, separately said IPE-Plus Fund 1, a fully compliant and regulated fund, was launched in October 2013 and operated until October 2019. "Throughout the fund's tenure, IPE-Plus Fund 1 made zero investments in any shares of the Adani Group either directly or indirectly through any fund," it said. "At its peak, the fund's Assets Under Management (AUM) reached approximately USD 48 million, with over 90% of the fund consistently invested in bonds." The fund, it said, was managed as a discretionary fund by the Investment Manager. "No investor had any involvement in the fund's operations or investment decisions. Mrs. Madhabi Buch &amp; Mr. Dhaval Buch's holdings in the fund were less than 1.5% of the total inflow into the fund." Hindenburg on Saturday alleged that just weeks before Buch's appointment to SEBI, her husband requested the transfer of their investments into his sole control, potentially to avoid any scrutiny related to her new regulatory role. The couple's investments were reportedly funneled through a complex, multi-layered offshore structure, raising questions about their legitimacy and purpose. On March 22, 2017, just weeks ahead of Buch's appointment as SEBI Wholetime Member, her husband, Dhaval Buch, wrote to Mauritius fund administrator Trident Trust. That communication was regarding his and his wife's investment in the Global Dynamic Opportunities Fund (GDOF), the US firm alleged. "In the letter, Dhaval Buch requested to"be the sole person authorized to operate the accounts", seemingly moving the assets out of his wife's name ahead of the politically sensitive appointment," Hindenburg alleged. Dhaval Buch is currently a senior advisor at Blackstone and at Alvarez &amp; Marsal. He also serves as a non-executive director on the Board of Gildan. "In a later account statement dated February 26, 2018, addressed to Madhabi Buch's private email, the full details of the structure are revealed: "GDOF Cell 90 (IPEplus Fund 1)". Again, this is the same Mauritius-registered "cell" of the fund, found several layers deep in a convoluted structure, reportedly used by Vinod Adani," Hindenburg alleged. From April 2017 to March 2022, while Buch was a Wholetime member and Chairperson at SEBI, she had a 100 % interest in an offshore Singaporean consulting firm, called Agora Partners, it alleged adding On March 16, 2022, two weeks after she was appointed SEBI Chairperson, she quietly transferred the shares to her husband. To date, SEBI has taken no action against these funds, it claimed. "If SEBI wanted to find the offshore fund holders, perhaps the SEBI Chairperson could have started by looking in the mirror," Hindenburg said. In response to requests from the Supreme Court to investigate the Adani matter, SEBI is said to have hit a wall unveiling the holders of the offshore funds. The Supreme Court said that while SEBI seemingly agreed with its concerns over who funded Adani's offshore shareholders, "it is evident that SEBI has drawn a blank in this investigation", the firm alleged.

Hindenburg target SEBI chief, she calls charges baseless, Adani says no commercial relationship with SEBI head

The allegations of the US Short seller Hindenburg against <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">SEBI</keyword> Chairperson <keyword id="22743118" type="General" weightage="20" keywordseo="Madhabi-Buch" source="keywords">Madhabi Buch</keyword> and her husband have drawn sharp political reactions from the opposition parties. Reacting to the Hindenburg report, Samajwadi Party spokesperson Ghanshyam Tiwari on Sunday lashed out at the Modi government and said that the tenure of PM Modi will be known for 'Adani-waad'. "The whole world witnessed a different session with different ideologies but the term of PM Modi will be known as 'Adani-waad'. In this Adani-waad, they captured the whole economic system of India in such a way that Gautam Ad(<keyword id="19955648" type="General" weightage="20" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="83" meta.entityid="Adani Group">Adani Group</keyword>) could benefit, it looks like this is the only motive of PM Modi," he said. Referring to the Hindenburg Report alleging SEBI chief Madhabi Buch and her husband's stakes in "both the obscure offshore entities used in the Adani money siphoning scandal", Tiwari stated, "Hindenburg's report regarding the SEBI chief has triggered the integrity of the market regulator. Hindenburg alleged that SEBI is not investigating properly. Questions are being raised on the Adani Group continuously by the opposition. Anybody with a basic investigation can simply question how the Adani Group with different allegations of corruption, whether it is a coal scam or power, through the medium of offshoring, invested in the share markets. SEBI whose duty was to investigate and find out the criminals was deviating from the core issues." Aam Aadmi Party MP Sanjay Singh alleged that the Modi government is steeped in corruption and is trying to save "their friend Adani". Taking it to a social media post on X, Sanjay Singh wrote, "The Hindenburg revelations were hinted at 3 days before Modi ended the Parliament session. Modi Government is steeped in corruption from head to toe. To save his friend Adani, Modi Ji got the investigation done by the same SEBI Chairman who had committed the scam in connivance with Adani. SC should reconsider its decision." <keyword id="19895371" type="General" weightage="20" keywordseo="Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Congress" meta.hostid="83" meta.entityid="Congress">Congress</keyword> MP Manish Tewari said that a JPC must be constituted to go into the entire Hindenburg saga. "There are certain revelations by the <keyword id="20016892" type="General" weightage="20" keywordseo="Hindenburg-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindenburg Research" meta.hostid="83" meta.entityid="Hindenburg Research">Hindenburg Research</keyword> which have been put out in the public space. They require closer scrutiny...There seems to be some semblance of an alleged conflict of interest and so therefore under those circumstances there has been a demand in the public space for a while that the entire Hindenburg saga needs to be investigated properly by a <keyword id="21964200" type="General" weightage="20" keywordseo="Joint-Parliamentary-Committee" source="keywords" meta.keywordsubtype="org" meta.entityname="Joint Parliamentary Committee" meta.hostid="83" meta.entityid="Joint Parliamentary Committee">joint parliamentary committee</keyword>. It would be in the fitness of things if a joint parliamentary committee is constituted to go into all these issues at length," he said. Earlier in the day, shortly after US-based short seller Hindenburg Research on August 10 alleged that SEBI Chairperson Madhabi Buch and her husband had stakes in "both the obscure offshore entities used in the Adani money siphoning scandal," the SEBI Chairperson and her husband issued a joint statement rejecting the allegations. Madhabi Puri Buch and her husband accused Hindenburg Research, against whom SEBI has taken enforcement action, of character assassination. In the joint statement released to the media they said, "Our life and finances are an open book. All disclosures as required have already been furnished to SEBI over the years. We have no hesitation in disclosing any and all financial documents, including those that relate to the period when we were strictly private citizens, to any and every authority that may seek them. It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same." Earlier on Saturday, US short seller Hindenburg had alleged, "We had previously noted Adani's total confidence in continuing to operate without the risk of serious regulatory intervention, suggesting that this may be explained through Adani's relationship with SEBI Chairperson, Madhabi Buch." "What we hadn't realized: the current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani," the report by the US hedge firm said. Hindenburg Research said it has made the new allegations based on documents provided by a whistleblower and investigations carried out by other entities. In January 2023, Hindenburg published a report accusing the Adani Group of financial irregularities, leading to a significant drop in the company's stock price. The group at the time had rubbished these claims. The Hindenburg report alleged stock manipulation and fraud by the conglomerate. The case is related to the allegations (part of a report by Hindenburg Research) that Adani had inflated its share prices. After these allegations were published, there was a sharp fall in the shares of various Adani group companies' stocks. In January 2024, the Supreme Court refused to transfer the probe into the allegations of stock price manipulation by the Adani group to an SIT and had directed market regulator SEBI to complete its probe into two pending cases within three months. Earlier this year, the SC also dismissed a plea seeking to review the verdict that had sought investigation by the market watchdog SEBI in the Adani-Hindenburg case.

Integrity of SEBI questioned, JPC probe into Hindenburg a must: INDIA bloc targets govt on Hindenburg allegations

New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> on Tuesday proposed relaxing net-worth, qualification and experience requirements for <keyword id="22695845" type="General" weightage="20" keywordseo="investment-advisers-and" source="keywords">investment advisers and</keyword> research analysts, a move aimed at curbing the activities of unregulated <keyword id="22205854" type="General" weightage="20" keywordseo="financial-influencers" source="keywords">financial influencers</keyword>. The proposals will simplify and reduce registration requirements and compliance costs for <keyword id="21253972" type="General" weightage="20" keywordseo="investment-advisers" source="keywords">Investment Advisers</keyword> (IAs) and Research Analysts (RAs) registered with Sebi, the regulator said. In its consultation paper, Sebi has proposed to relax minimum qualification from post-graduate to graduate degree and remove the experience requirement for registration as investment advisers and research analysts. Currently, IAs and RAs are required to obtain the prescribed certifications from NISM at the time of registration. They are required to obtain the same base certifications before expiry of validity of such certifications. Additionally, the regulator has proposed to abolish the requirement of maintaining minimum net worth by IAs and RAs. Instead, it has proposed that IAs/RAs should maintain a deposit with the stock exchange, based on the number of clients. For up to 150 clients, investment advisers or research analysts will have to maintain a deposit of Rs 1 lakh, for 150 to 300 clients, they need to maintain Rs 2 lakh, for 300 to 1,000 clients, the deposit requirement will be Rs 5 lakh and for over 1,000 clients, the requirement will be Rs 10 lakh. Also, Sebi has proposed allowing individuals or partnership firms to register as both IA and RA and allow individuals or partnership firms engaged in non-securities businesses to register as IA/RA. Sebi noted that the Indian securities market has seen a significant increase in domestic investors due to market growth and technical advancements. However, the number of registered Investment Advisers and Research Analysts remains low compared to the large investor base, especially when compared to countries like the United States. "This is leading to proliferation of the unregistered entities acting as IAs and RAs," it added. To ensure investors can make informed decisions and to support the growth in wealth creation, a larger number of registered IAs and RAs is needed, the Sebi said. Recently, Sebi board approved a series of measures on restricting the play of fin-influencers, which focus mainly on policing the segment through their tie-ups with the entities regulated by Sebi. Also, senior Sebi officials in the recent past have said that challenges to get registered as an investment advisor are among the reasons for growth in the problematic fin-influencers segment. The registered investment advisors have said that getting and maintaining the registration is an onerous task due to which their numbers are low. The <keyword id="19901204" type="General" weightage="20" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (Sebi) has sought public comments till August 26 on the proposals.

You Searched For "state boards" and got 10 results

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ICC planning multi-million dollar fund to save Test cricket: Report

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Hindenburg target SEBI chief, she calls charges baseless, Adani says no commercial relationship with SEBI head

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Integrity of SEBI questioned, JPC probe into Hindenburg a must: INDIA bloc targets govt on Hindenburg allegations

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Sebi proposes relaxing norms for investment advisers and analysts, floats consultation paper

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