India set for $168 bn finance behemoth

The merger of India’s most valuable lender and the nation’s largest mortgage financier to create what could be the world’s fifth-most valuable bank is inching closer to completion, with just one key step remaining that investors are watching for closely. Merger is unprecedented in India, creating a bank worth $168 billion, impacting over tens of millions of customers.

First India Bureau New Delhi

In the last 9 years, the Central govt and states have achieved a lot in this area. Nobody can deny it. But we can’t stay content because disasters have changed their form and their frequency & intensity have increased. We will have to do more extensive planning.

AMIT SHAH, UNION HOME MINISTER

All agencies including Centre, state govt, IAF, Navy, Coast Guard and disaster management authorities are working together to minimise the impact of cyclone Biparjoy.

DR MANSUKH MANDVIYA, UNION MINISTER

Twitter’s co-founder and former boss Jack Dorsey has reiterated that the platform received “many requests” from the Indian government to block accounts covering farmers’ protests and those critical of the govt. He has also said that the platform was threatened with “a shut down” and conducting raids at its employees’ homes in the country.

Minister of State for Electronics and IT Rajeev Chandrasekhar responded to Dorsey’s claims, saying that under him, Twitter was in “repeated and continuous violations of India law” and at times “weaponised misinformation”.

“It manifested in ways that ... [they said] we will raid the homes of their employees, which they did; we will shut down your offices if you don’t follow suit,” he said.

What was said, is a blatant lie. Jack Dorsey woke up after years of sleep and wants to cover up his misdeeds. Several foreign forces and their agents in India wake up when elections approach India. They were exposed earlier and will be exposed this time as well.

No one from Twitter was raided or sent to jail, nor was the site shut down in the country. Any action taken against Twitter and its executives was because the platform had been in violation of government regulations.

RAJEEV CHANDRASEKHAR, UNION MOS FOR IT

Announcement of the so called ‘record date’-or the cut-off day set for investors - for the swapping of shares of Housing

Devp Finance Corp. for HDFC Bank Ltd is expected in 3 weeks

MAJOR BIGGEST MERGER HAPPENINGS l A central team, with 3 members from each company, and nearly three dozen committees worked on a business integration plan for the biggest merger l Legal approvals were sought from shareholders, banking, securities market and competition regulators l Stock exchanges with the final nod granted by the company law tribunal in March

Sushil Bishnoi IAS Girdhar

Booze

IPS Sushil, IAS Girdhar suspended

Dr Rituraj Sharma & Shivendra Parmar Jaipur

In what could be considered as a major action on State bureaucracy, and as hinted by First India, IAS Girdhar and IPS Sushil Kumar Bishnoi were suspended on Tuesday by DoP. Both are accused of fighting after drinking alcohol in Ajmer. Girdhar was posted as Commissioner of Ajmer Development Authority, Sushil as ASP Ajmer; they were partying together in car at time of incident. Gehlot government is strict about conduct of officers, on Tuesday evening, the govt suspended duo.