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<ul class="summary-list"><li>China's Xi Jinping negotiated a truce with India's leader, Narendra Modi.</li><li>They agreed to a patrolling arrangement on a disputed Himalayan border.</li></ul>At the <a target="_blank" class="" href="https://www.businessinsider.com/russia-hosts-brics-summit-defy-west-us-economy-china-dollar-2024-10">BRICS summit</a> in Russia this week, China's leader Xi Jinping and India's Prime Minister Narendra Modi shook hands for the first time in five years.The symbolic moment came after a deal was struck to resolve a long-standing feud between the Asian superpowers.In the lead-up to the summit, the countries announced they had reached a patrolling agreement that would reduce tensions along a disputed <a target="_blank" class="" href="https://www.businessinsider.com/india-china-buying-new-light-tanks-for-himalayan-mountain-warfare-2023-6">Himalayan border.</a>The dispute had led to deadly hand-to-hand combat in recent years, taking the lives of 20 Indian troops and at least four Chinese soldiers.After their meeting at the summit hosted by Russia's President Vladimir Putin, Xi and Modi said they would continue discussions on resolving the issue.<h2 id="997cee52-7fd6-4283-bf77-94e40a12b5cc">A setback for the US</h2>Some analysts believe it is a development that's unlikely to be welcomed in Washington, DC.The US has sought to recruit India to help it contain China's growing regional aggression alongside other members of the Quadrilateral Security Dialogue, a security pact that also includes Japan and Australia."So definitely, this is a setback for the United States of America's Indo-Pacific outlook, given the kind of rapprochement we are seeing in India-China relations, and particularly India, China and Russia coming together," Jagannath Panda, head of the Stockholm Center for South Asian and Indo-Pacific Affairs, told Business Insider."Putin, Xi, and Modi meeting definitely signals that there is a kind of understanding under the carpet that has happened, which is quite subtle," he said.It's an assessment echoed by Zhiqun Zhu, professor of political science and international affairs at Bucknell University."The thaw in India-China relations is a boon to both countries. This is particularly significant for China because India may now be less inclined to confront Beijing as part of Quad," Zhu told <a target="_blank" class="" href="https://www.voanews.com/a/india-china-deal-raises-questions-about-us-indo-pacific-strategy-/7838623.html">Voice of America. </a>"In this sense, the effectiveness of Quad would be diluted with a less enthusiastic India."<h2 id="baf534cf-4366-41b8-b9ef-d526ffe91fda">Competition between Asia's rival powers intensifies</h2>Tensions have been building between China and India for years.As the two biggest economies in Asia, the countries have long jostled for regional power, with the dispute over the Himalayan border a flashpoint that led to clashes in 2020, 2021, and 2022.Amid the stand-off, Chinese vessels have reportedly surveilled the Indian Ocean in <a target="_blank" class="" href="https://www.reuters.com/world/india/another-chinese-research-vessel-spotted-off-india-fuelling-unease-2024-03-11/">what experts told Reuters</a> was a likely intelligence-gathering operation, while India has strengthened its security ties with China's chief global rival, the US.In 2017 India played a key role in restarting the Quad, an alliance designed as a bulwark against growing Chinese influence and aggression in the Asia-Pacific region.But India has long sought to balance its relationship with rival superpowers the US and China, and does not at this point want to tie itself too closely to either side, say analysts.In addition to being a member of the Quad Alliance, it is a founding member of the BRICS, an <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-asia-countries-flaunt-russia-putin-diplomacy-relationship-brics-2024-9">association of non-Western economies </a>that China has sought to transform into an alternative global economic power base to the US.<div type="image" title="India-China border" height="683" width="1024" msid="114594056" hostid="261" sizebytes="158650"></div>"This explains why it remains part of multilateral groupings with contradictory goals," said Praveen Donthi, a South Asia analyst with the Eurasia Group in Washington, DC, pointing to both its membership of the US-aligned Quad and China-dominated BRIC group.The truce comes with China on the back foot diplomatically, said Panda, pointing to its damaged relations with Europe and the US after its support f<a target="_blank" class="" href="https://www.businessinsider.com/russia-and-china-anti-us-coalition-is-growing-more-threatening-2024-9">or Russia's invasion of Ukraine.</a>"One could draw a conclusion at this point that probably the Chinese are more interested to rebuild the ties with India than the other way round," said Panda.He said there's also the possibility that Xi has reached an agreement with Modi behind the scenes for India to remain silent if China acts on its longstanding ambition to seize back control of Taiwan.Such a move would likely draw in the US and its other regional allies, who have pledged to help defend<a target="_blank" class="" href="https://www.businessinsider.com/china-taiwan-drone-swarms-uav-us-playing-catch-up-production-2024-10"> Taiwan's independence.</a>"I think China's bigger ambition and target is the Taiwan issue, and therefore they would not really like to continue the kind of tensions they were engaged in with India for the last three to four years," he said."Therefore, they would like to rebuild, and they would like to ensure that India does not react to the Taiwan issue so sensitively."In any case, its a setback in US attempts to include India in a deeper security alliance, he said."For a long time, the US has tried to develop security and defense ties with India," said Panda.For the time being, a truce suits both Russian and Chinese interests, Rahul Bhatia, an analyst at the Eurasia Group, said. But, he added, tensions remain.He said that though both parties have opened discussions about the border dispute, the underlying problem remains unresolved, and future flare-ups are likely.Donthi said the progress between the leaders could also be derailed if tensions between the US and China increase."This comes as a relief after four years of eyeball-to-eyeball troop deployment in the Himalayas. However, it's only the beginning," he said.

Xi undercut the West by negotiating a truce in China's long feud with India

<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

<ul class="summary-list"><li>Despite pressure from Western allies, India has refused to isolate Russia over the Ukraine war.</li><li>India's Narendra Modi this week spoke with both Ukraine's and Russia's leaders.</li></ul>When <a target="_blank" class="" href="https://www.businessinsider.com/narendra-modi-won-already-seeing-cost-him-allies-cabinet-funding-2024-6">Narendra Modi</a> visited Ukraine over the weekend, he greeted its president Volodymyr Zelenskyy with an exuberant bear hug.He did the same <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-india-modi-putin-hug-west-isolation-big-blow-2024-7">to Vladimir Putin</a> only weeks ago when he traveled to Moscow to meet the Russian president, much to the anger of Zelenskyy."It is a huge disappointment and a devastating blow to peace efforts to see the leader of the world's largest democracy hug the world's most bloody criminal in Moscow on such a day," Zelenskyy wrote on X at the time.Modi's visits to both Ukraine and Russia characterize his relentless ambiguity on the Ukraine war. He has not condemned nor supported the invasion and is now acting as a peacemaker.The diplomatic highwire act highlights the dilemma Modi faces as he seeks to balance pressure from the US to show more support for Ukraine against <a target="_blank" class="" href="https://www.businessinsider.com/modi-putin-russia-india-relationship-not-worried-us-biden-mad-2024-7">maintaining good ties with Russia.</a><h2 id="5631f287-50fa-42fc-9492-15da89d39bf8">A quick end to the war</h2>In the wake of the Ukraine trip, Modi called Putin. In a post on X, Modi said he reiterated "India's firm commitment to support an early, abiding and peaceful resolution of the conflict."Dinakar Peri, a fellow at the Council for Strategic and Defense Research, told Business Insider that Modi's Ukraine visit was high on symbolism."Although the image of India being a peacemaker is largely rhetoric, the fact of the matter is that India is definitely uniquely positioned in comparison to many other countries due to the kind of bandwidth they have with Russia," said Peri.Rahul Bhatia, an analyst with the Eurasia Group, told BI that while India is reluctant to come down on one side in the Ukraine war, it sees grave dangers in a prolonged conflict in Ukraine."India has sought to take a balanced approach to the war in Ukraine. New Delhi wants to maintain its relationship with Russia regardless of its diplomatic isolation," said Bhatia.<h2 id="bb68f21a-9c73-4a16-a530-190e801237c5">India's ties with the Kremlin are tested</h2>Modi's insistence on not taking a side in <a target="_blank" class="" href="https://www.businessinsider.com/russian-murder-convict-ivan-rossomakhin-kills-again-joins-army-wagner-2024-8">Ukraine</a> is likely to baffle and frustrate many Western observers, but analysts say there are vital economic and strategic goals behind India's position.India has long had <a target="_blank" class="" href="https://www.businessinsider.com/putin-bid-undermine-global-ukraine-support-working-zelenskyy-peace-2024-6">close diplomatic ties with Russia</a>. During the Cold War, it relied on the Kremlin for military support while the US-backed regional rival Pakistan.It now depends on Russia for oil supplies, surpassing <a target="_blank" class="" href="https://www.businessinsider.com/xi-china-putin-russia-frenemies-limits-power-sphere-influence-2024-7">China</a> this week to become Russia's top oil importer."Most of the oil India imports from Russia is actually going to Europe," said Peri. "India is just a conduit — the oil is refined here, and the refined petroleum products are going to Europe as we speak.""In that way, India has played the middle role of stabilizing the larger global economy, which would otherwise have gone for a toss."Peri also pointed out India's dependence on Russia for military equipment, as well as upgrades and spare parts."Around 60% of Indian military equipment is of Russian origin," said Peri. "We have received a lot from other countries in the last few decades, like France, Israel, and increasingly so from the US, but we're still heavily Russian-oriented."But the Ukraine war has shaken up India's relations with the Kremlin.The US is pressuring India to help isolate Putin as punishment for the Ukraine invasion, and India is worried about the Kremlin's increasingly close relationship with China, which has backed Russia amid the Ukraine invasion."India-US ties are not just about Russia or the war in Ukraine," said Peri. "They're also about trade and strategic cooperation, which in some cases is also underpinned by concerns over China or the larger developments in the Indo-Pacific."<h2 id="4c3050d8-adb0-46af-b14f-2689f19f7caa">India sees Russia as a buffer against China's aggression</h2>India has long been concerned about China's increasing aggressiveness in Asia, with a Himalayan border dispute erupting into clashes that left 24 people dead in 2020.Indian and Chinese militaries have been engaged in a standoff on the disputed region of Ladakh since 2020. Although the countries have disengaged on several points, the standoff has continued.Peri said that is India dependent on good ties with the Kremlin to help mitigate that threat: "The standoff created new dynamics for India, and those are all factors which will be in Indian calculations on the stand it takes."Bhatia agreed that India has an eye on China when it engages with Russia. "While New Delhi accepts that Russia and China will gradually grow closer, it believes that maintaining a good relationship with Moscow will ensure that Russia remains neutral when India-China border tensions flare up," he said.It also relies on close ties with the US to help counter China's aggression, reviving the "Quad" dialogue with the US, Australia, and Japan in 2017 to counter China's threat.In the meantime, Modi will likely continue India's tightrope act, maintaining its alliance with the US while seeking not to alienate the Kremlin as it warily watches China's growing might.

India's refusal to take a side in the Ukraine war is frustrating the West. But it has its reasons.

<keyword id="19909056" type="General" weightage="100" keywordseo="Mamata-Banerjee" source="keywords">Mamata Banerjee</keyword>, the <keyword id="19924917" type="General" weightage="20" keywordseo="Chief-Minister" source="keywords">Chief Minister</keyword> of <keyword id="19896517" type="General" weightage="20" keywordseo="West-Bengal" source="keywords">West Bengal</keyword> and leader of the <keyword id="19968095" type="General" weightage="20" keywordseo="Trinamool-Congress" source="keywords" meta.keywordsubtype="org" meta.entityname="Trinamool Congress" meta.hostid="261" meta.entityid="Trinamool Congress">Trinamool Congress</keyword> (TMC), has been a dominant force in the state's politics for over a decade. Recently, she offered to resign amidst the ongoing <keyword id="23154517" type="General" weightage="20" keywordseo="R-G-Kar-Hospital-protests" source="keywords">R.G. Kar Hospital protests</keyword>, where junior doctors have been on strike demanding justice for a murdered colleague. While Banerjee’s offer to step down seems more symbolic, aimed at quelling tensions, it raises important questions about what would happen if she were to actually resign as Chief Minister. Here’s a detailed breakdown of the process and its implications for West Bengal: <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">1. Resignation</h3>If Mamata Banerjee were to formally submit her resignation, the process would begin with her presenting a written resignation letter to the <keyword id="23154515" type="General" weightage="20" keywordseo="Governor-of-West-Bengal" source="keywords">Governor of West Bengal</keyword>. This is the standard protocol for any Chief Minister in India. The resignation is at the discretion of the Governor, who typically accepts it unless there is a compelling reason not to. <div type="Article" hostid="261" msid="113307547" title="West Bengal CM Mamata Banerjee offers to resign after agitating doctors refuse to meet without live streaming" mstype="2" mssubtype="0"></div>Once the resignation is accepted, Banerjee would cease to be the CM immediately. However, the Governor might request her to continue as a caretaker CM until a new government is formed. In this role, Banerjee would oversee a temporary government with limited powers, unable to make significant policy decisions or pass new laws. <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">2. Election of a new leader</h3>Mamata Banerjee’s resignation would leave a significant leadership vacuum within the Trinamool Congress, which currently has a strong majority in the West Bengal Legislative Assembly. Given her deep-rooted influence over the party, it’s likely that the TMC would convene an emergency meeting to elect a new leader. Banerjee’s close associates, such as her nephew Abhishek Banerjee, could be contenders for the CM post. Alternatively, the party could look for a senior and experienced leader to stabilise the situation until the next elections. However, given Banerjee’s control over the party, she may still wield significant influence from behind the scenes, even if she officially steps down. <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">3. Role of the Governor</h3>In the absence of a clear successor, the Governor plays a key role. The Governor might invite the TMC to form the government again by electing a new leader, but if the party fails to show a majority or experiences factionalism, the Governor could explore other options. This could include inviting the opposition to form the government if they demonstrate the numbers, or even recommending <keyword id="23154516" type="General" weightage="20" keywordseo="Presidents-Rule" source="keywords">President’s Rule</keyword> in the state under Article 356 of the Indian Constitution, where the central government takes over the state's administration. <div type="Article" hostid="261" msid="112644728" title="Bengal in state of flux, people lost faith in present government: Governor CV Ananda Bose" mstype="2" mssubtype="0"></div><h3>4. <keyword id="20554823" type="General" weightage="20" keywordseo="vote-of-confidence" source="keywords">Vote of confidence</keyword></h3>Once a new leader is chosen by the TMC, they will be sworn in as the next Chief Minister. However, they would need to prove their majority on the floor of the West Bengal Legislative Assembly. This process, known as a vote of confidence, is crucial in determining whether the new CM has the support of the majority of the legislators. If the party remains united, this step should be straightforward. However, in the event of internal splits within the TMC or if Banerjee’s resignation triggers political instability, the new leader may struggle to secure the necessary support, potentially leading to fresh elections. <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">5. Impact on West Bengal’s <keyword id="20142886" type="General" weightage="20" keywordseo="political-landscape" source="keywords">political landscape</keyword></h3>Mamata Banerjee’s resignation would have a profound impact on the political landscape of West Bengal. She has been the face of the TMC and has led the party to consecutive electoral victories, defeating formidable opponents like the Communist Party of India (Marxist) and the Bharatiya Janata Party (BJP). Her departure from the top post could trigger a realignment within the state’s political sphere. <div type="Article" hostid="261" msid="113087561" title="Calcutta High Court seeks CBI report on nasty social media posts on RG Kar hospital rape-murder victim" mstype="2" mssubtype="0"></div>If Banerjee were to leave active politics, it could embolden opposition parties like the BJP, which has been trying to expand its footprint in the state. Additionally, there could be a power struggle within the TMC itself, especially if no clear successor emerges. <h3 style="line-height:1.38;margin-top:16pt;margin-bottom:4pt;">6. President’s Rule as a last resort</h3>In an extreme scenario, where the TMC fails to elect a new leader or where political instability leads to a breakdown of governance, the Governor could recommend President’s Rule. Under this provision, the state government is suspended, and the central government takes direct control of the state’s administration. President’s Rule is generally viewed as a last resort and can be imposed if no party can form a stable government. However, given the TMC’s strong majority in the assembly, this is an unlikely scenario unless there is significant internal fragmentation within the party. In short, if Mamata Banerjee resigns, West Bengal’s political future would hinge on how swiftly a new leader is appointed by her party and how successfully they can prove majority support in the assembly. Should this process falter, the state could face either interim governance under a caretaker government or even the possibility of President’s Rule, depending on the stability of the assembly.

What will happen if Mamata Banerjee actually resigns as the Chief Minister of West Bengal?

Kolkata (West Bengal) [India], June 12 (ANI): The World Health Organisation has confirmed the human case of <keyword id="3653784" type="General" weightage="20" keywordseo="bird-flu-in-india" source="Orion">bird flu in India</keyword>, after the <keyword id="15897682" type="General" weightage="20" keywordseo="H9N2-virus" source="Orion">H9N2 virus</keyword> was detected in a four-year child in West Bengal. Overall, this is the second <keyword id="21166335" type="General" weightage="20" keywordseo="human-infection" source="keywords">human infection</keyword> of <keyword id="2663051" type="General" weightage="20" keywordseo="Avian-Influenza-A" source="Orion">avian influenza A</keyword> (H9N2) notified to WHO from India, with the first being done in 2019. The child has recovered and was discharged from the hospital. WHO received a notification from the International Health Regulations (IHR) National Focal Point (NFP) for India, regarding a human case of avian influenza A(H9N2) virus infection in West Bengal, the health body said in a press release. "The patient is a 4-year-old child residing in West Bengal state. The case, previously diagnosed with hyperreactive airway disease, initially presented to the paediatrician with fever and abdominal pain on 26 January 2024. He developed seizures on January 29 after which he was brought to the same paediatrician. The patient was admitted to the pediatric intensive care unit (ICU) of a local hospital due to the persistence of severe respiratory distress, recurrent high-grade fever and abdominal cramps. The patient tested positive for influenza B and adenovirus. He was discharged from the hospital on February 28 but with a recurrence of severe respiratory distress, he was referred to another government hospital and was admitted to the pediatric ICU and intubated on March 3. His nasopharyngeal swab was sent to the Kolkata Virus Research and Diagnostic Laboratory and tested positive for influenza A (not sub-typed) and rhinovirus. On April 26, the sample was sub-typed as influenza A(H9N2) through a real-time polymerase chain reaction. The patient was discharged from the hospital with oxygen support on May 1. WHO said that the infected patient had exposure to poultry at home and in the surroundings. It, however, also affirmed there were no known persons reporting symptoms of respiratory illness in the family, the neighbourhood, or among healthcare workers at health facilities attended by the case at the time of reporting. The health body further warned that sporadic human cases could occur in the future as this virus is "one of the most prevalent avian influenza viruses circulating in poultry in different regions." Animal influenza viruses normally circulate in animals but can also infect humans. Infections in humans have primarily been acquired through direct contact with infected animals or through indirect contact with contaminated environments. Depending on the original host, influenza A viruses can be classified as avian influenza, swine influenza, or other types of animal influenza viruses, the WHO stated in the release. The health body further said that it is providing continued support to the government of India through technical advice, updates on risk assessment and updating contingency plans- both in the human and animal sectors in line with the global guidance.

WHO confirms human case of bird flu in India! H9N2 virus detected in a four-year child in West Bengal

Legendary West Indian all-rounder <keyword id="20508612" type="General" weightage="100" keywordseo="Dwayne-Bravo" source="keywords">Dwayne Bravo</keyword> has announced his <keyword id="19908343" type="General" weightage="20" keywordseo="retirement" source="keywords">retirement</keyword> from all forms of cricket, bringing down the curtains on a two-decade-long career that spanned numerous cricket leagues and international arenas. The 40-year-old World Cup winner will now embark on a new journey as a mentor for the <keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword> (KKR), marking the end of his illustrious association with Chennai Super Kings (<keyword id="19896464" type="General" weightage="20" keywordseo="CSK" source="keywords">CSK</keyword>), where he played and coached. Bravo’s announcement came on Instagram on Thursday, where he shared his heartfelt farewell to the sport. "Today is the day I say goodbye to the game that has given me everything," Bravo wrote. "Twenty-one years as a professional cricketer – it's been an incredible journey, filled with many highs and a few lows. Most importantly, I was able to live my dream because I gave you 100 at every step." While he expressed his desire to continue, Bravo acknowledged it was time to "face reality," adding that his body could no longer withstand the strain and injuries that had come with the game. <h2>Injury shortens final <keyword id="21618603" type="General" weightage="20" keywordseo="CPL" source="keywords">CPL</keyword> stint</h2>Bravo had declared earlier this year that the ongoing Caribbean Premier League (CPL) season would be his last, but fate had other plans. A groin injury sustained while fielding in a match against the St. Lucia Kings prematurely ended his CPL stint, cutting short his farewell tournament. Reflecting on the injury, Bravo said, "My mind wants to keep going, but my body can no longer endure the pain, the breakdowns, and the strain. I can't put myself in a position where I might let down my teammates, my fans, or the teams I represent." Despite the bittersweet ending to his career, Bravo made it clear that he leaves with no regrets. "Though this ending is bittersweet, I have no regrets about my career or this decision. Now, I look forward to my next chapter. Once again, thank you. See you soon on the other side." <h2>From CSK star to <keyword id="21527152" type="General" weightage="20" keywordseo="KKR-mentor" source="keywords">KKR mentor</keyword></h2>Bravo's <keyword id="19906063" type="General" weightage="20" keywordseo="IPL" source="keywords">IPL</keyword> legacy is immense, having won three IPL titles with CSK after joining the franchise in 2011. His versatility and leadership on the field earned him a special place in the hearts of CSK fans, and his transition to the role of bowling coach for the team in 2023 was a testament to his enduring impact. However, his new role with KKR signals the end of his long-standing CSK chapter. At Kolkata Knight Riders, Bravo will replace Gautam Gambhir, who left his mentorship role to take over as India's head coach earlier this year. Venky Mysore, CEO of Knight Riders Group, expressed his enthusiasm for Bravo’s new role. "DJ Bravo joining us is an exciting development. His relentless drive to win, along with his vast experience and deep knowledge, will greatly benefit our franchise and players," Mysore said in a media release. Bravo’s responsibilities will not be limited to the IPL. He will also oversee KKR's other <keyword id="20214221" type="General" weightage="20" keywordseo="T20" source="keywords">T20</keyword> franchises, including the Trinbago Knight Riders in the CPL, Major League Cricket (MLC) in the US, and International League T20 (ILT20) in the UAE. "We’re also pleased that Bravo will be involved with our other franchises globally," Mysore added. <h2>An iconic career comes to a close</h2>Bravo’s <keyword id="20513887" type="General" weightage="20" keywordseo="cricket-career" source="keywords">cricket career</keyword> is nothing short of legendary. With 582 T20 matches under his belt, 631 wickets, and nearly 7,000 runs, he redefined the role of an all-rounder in the shortest format of the game. His influence transcended national and international boundaries, as he played for franchises across the globe and even served as a consultant for the Afghanistan men's team. Speaking about his new journey with KKR, Bravo said, "I've been part of the Trinbago Knight Riders for the last 10 years in the CPL. Having played for and against the Knight Riders in various leagues, I have a lot of respect for how they operate." The end of Bravo’s playing career signals the beginning of a new chapter in the cricketing world. For fans who have followed his journey for over two decades, his presence off the field will surely bring as much wisdom as his performances did on it. As Bravo himself said, "The Champion bids farewell," but his legacy will continue to inspire many, both within KKR and around the world. (With inputs from PTI)

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What will happen if Mamata Banerjee actually resigns as the Chief Minister of West Bengal?

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WHO confirms human case of bird flu in India! H9N2 virus detected in a four-year child in West Bengal

ANI

“Body can no longer endure the pain”: CSK legend Dwayne Bravo retires from cricket, to join KKR as mentor

BI India Bureau

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