Daily Archive: December 6, 2018

Supreme Court reserves its order on a plea filed by CBI Director Alok Verma and NGO common cause challenging the Center’s decision to divest Verma of his charges.

Supreme Court reserves its order on a plea filed by CBI Director Alok Verma and NGO common cause challenging the Center’s decision to divest Verma of his charges.

Annual Startup India Venture Capital Summit 2018 to be held in Goa

The Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry and the Government of Goa, is hosting the annual Startup India Venture Capital Summit in Goa on December 07, 2018.

The theme of the Summit is ‘Mobilizing Global Capital for Innovation in India.’ The event will showcase the Indian startup opportunity for funds from around the world. The summitaims to attract more global capital into the country. The event will enable a dialogue between Government and experienced Venture Capitalfund managers on ways to further promote the startup ecosystem in India. Thefocus of the Summitis on the huge return-generating potential of India’s vast and diverse market monetized through cutting-edge technologies and supported by investor-friendly regulations. The key objectives of the Summit will be to showcase the India opportunity, increase capital flow for Indian startups and further promote ease of doing business.

With over 150 participants expected to attend, it will bring together government officials, domestic and international startups, global fund managers and India’s vibrant entrepreneurial community on one platform. Participation is expected from around 100 funds from countries like United States of America, China,Japan, Hong Kong and Singapore.

India has the world’s third largest startup base with more than 14,000 recognized Startups. More than 8,200 startups were recognized by DIPP in 2018 alone, leading to the creation of more than 89,000 new jobs this year, taking the total job creation contribution of recognized Startups to 1,41,775.

Government of Goa is focused on building a vibrant startup ecosystem in the state. It aims to make the state, one of the most preferred start-up destinations in India, and ensure that Goa features in the top 25 start-up destinations in Asia by 2025.


DRI concludes discussions with International Customs partner agencies in a two-day meeting held on 4th and 5th December, 2018

Special emphasis made on sharing of data and intelligence between different Customs administrations;

Extensive discussions held regarding mutual strategy to counter organized crime related to drugs, precious metals & stones, money laundering and black economy

Directorate of Revenue Intelligence (DRI), the anti-smuggling intelligence and investigation agency functioning under the Central Board of Indirect Taxes and Customs (CBIC), observed its 61st Founding Day and concluded Regional Customs Enforcement Meeting (RCEM) on 4th and 5th December, 2018 in New Delhi.

A function to commemorate the occasion was organized at Dr. Ambedkar International Centre, New Delhi on 4th December, 2018. The Union Finance Minister, Shri Arun Jaitley  was the Chief Guest of the event. Shri Ajay Bhushan Pandey, Secretary (Revenue) and Shri S. Ramesh, Chairman, CBIC were also present on the occasion.

The Union Finance Minister congratulated the DRI and its officers on their performance and exhorted the DRI to maintain high integrity and professional standards, and endeavour to become a ‘near perfect’ organization. Shri Jaitley laid out certain cardinal principles for investigative agencies, including the need to be guided by one sole purpose, which is detection of crime.

During the function, the Union Finance Minister awarded the DRI Martyr’s Medal to Late Shri L. D. Arora, Additional Commissioner of Customs and Central Excise, who laid down his life in service to the Nation while working against the underworld responsible for the Mumbai blasts of 1993. He also appreciated DRI’s initiative to honour its ex-officers for exemplary service with the ‘DRI Utkrisht Seva Samman’.

The Union Finance Minister Shri Jaitley unveiled “Smuggling in India Report 2017-18” which analyses organized smuggling trends on topics such as Gold & Foreign Currency, Narcotic Drugs, Security, Environment, Commercial Frauds. Excerpts of this report are enclosed.

The Inaugural Function was followed by the 5th Regional Customs Enforcement Meeting where the Heads of Customs Enforcement of 21 countries from South-Asia, West-Asia and Asia-pacific, apart from representatives from WCO, Interpol, UNODC and RILO AP were invited.

During the two daymMeeting, there was special emphasis on sharing of data and intelligence between different Customs administrations. Extensive discussions were held regarding mutual strategy to counter organized crime related to drugs, precious metals & stones, money laundering and black economy.

Presentations on these subjects were made by Interpol, World Customs Organization (WCO), Iran, Mauritius and Australia. DRI made the presentation on ‘Data Exchange to Control Illicit Trade’, highlighting the need, relevance, benefit and challenges for effective exchange of Customs data and proposed a four-stage model. This was followed by another presentation by DRI on ‘Drug Trafficking, Smuggling and Organized Financial Crime’.

Interpol outlined the important steps taken in recent times to promote Police-Customs co-operation. The presentation from WCO outlined the strategy and operations against drugs and NPS trafficking. Iran gave a detailed presentation on various kinds of narcotics seizures made by them. UNODC (South Asia), gave a brief overview of the mandate of UNODC which includes combating, apart from drugs and organized crime, terrorism, smuggling and corruption.

The delegate from Mauritius in his presentation laid great emphasis on sharing of information and intelligence on real-time basis. The last presentation was from Australia who elaborated on ‘Passenger profiling and Targeting capability’ and explained their layered approach in profiling, which was highly appreciated.

All the participating countries agreed to co-operate closely and counter the organized cross-border crime.



Rain, Snow on cards : Fresh Weather Updates for Jammu and Kashmir

“The minimum temperatures throughout the valley and the Ladakh region remained several notches below the freezing point,”

MeT officials said It will be partly cloudy in the state for the next 24 hours till Friday, forecasting rain and snow over the next 24 hours.

The Ladakh region’s Leh recorded minus 8.6 degrees Celsius, Met said.

The minimum temperature was minus 2.6 in Srinagar, minus 4 in Pahalgam and minus 4.6 in Gulmarg.

Jammu city recorded 8.8, Katra 8, Batote 2.7, Bannihal 0.2 and Bhaderwah 0.7 as the night’s lowest temperatures.

MeT officials said Gulmarg recorded a low of minus 8.6 degrees Celsius, Pahalgam a low of minus 5.1 degrees Celsius. Leh was the coldest in the state, recording a low of minus 11.4 degrees Celsius followed by contiguous Kargil at minus 10.9.

Meanwhile, keeping in view the overall weather and road condition, authorities on Wednesday allowed the traffic movement from Jammu to Srinagar.

Oil prices slide as Trump urges OPEC not to cut supply

New York: Oil prices have extended losses as US President Donald Trump once again tried to dampen OPEC’s efforts to tackle falling oil prices amid market expectations on further output cut.

‘Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!’ Trump said on Twitter on Wednesday, Xinhua news agency reported.

The West Texas Intermediate for January delivery decreased $0.36 to settle at $52.89 a barrel on the New York Mercantile Exchange, while Brent crude for January delivery decreased $0.52 to close at $61.56 dollars a barrel on the London ICE Futures Exchange.

The remarks came just a day prior to OPEC’s meeting in Vienna, piling pressure on the Saudi-led cartel, Russia and other non-member nations over potential global oil policy-making.

Moscow has shown willingness to cooperate with OPEC to cut oil production. Russia’s oil giant Lukoil said it’s ready to cut production if the upcoming meeting results in a deal to prop up prices, the company’s CEO Vagit Alekperov told reporters, according to TASS news agency.

Yet he said such a reduction could be done ‘only gradually,’ due to the adverse weather conditions in Western Siberia. ‘The reduction should be smooth, just like last year,’ Alekperov was quoted as saying.

BR Ambedkar Strived To Remove Inequality In Society: YS Jagan

Leader of Opposition in Andhra Pradesh legislative assembly and YSR Congress party president YS Jagan Mohan Reddy offered floral tributes to Dr. Babasaheb Ambedkar on his death anniversary this morning. YSR Congress party leaders, Dharmana Prasada Rao, Tammineni Seetharam, Bhumana Karanakar Reddy, and others can be seen.

The YSRCP chief remembered BR Ambedkar’s contribution in removing the inequality in society.He said BR Ambedkar strived for the upliftment of backward classes.



Deepika Padukone Is The First Woman To Reach Top 5 In Forbes Richest Indian Celeb List

Mumbai:Actress Deepika Padukone has become the first woman to earn a spot in the top five in the Forbes’ richest Indian celebs list.The 32-year-old Indian actress was placed fourth in the Forbes India Celebrity 100 list with her earnings reaching Rs 112.80 crore during 2018. She had earned Rs 59.45 crore during the previous year.

According to the publication, there are 18 women on the list (which first came out in 2012) – down from 21 in 2017. Actors Alia Bhatt, Anushka Sharma, Katrina Kaif and shuttlers PV Sindhu, Saina Nehwal are part of the 100.

The top spot on 2018 Forbes India Celebrity 100 went to actor Salman Khan, completing his hat-trick of being the richest celebrity in the country. The Bollywood superstar raked in Rs 253.25 crore during 2018. Cricketer Virat Kohli is the second richest celebrity in the list, followed by Akshay Kumar, Deepika Padukone and cricketer M.S. Dhoni.