Akshita Kapoor

[ad_1] MUMBAI: Pakistani-born Canadian national Tahawwur Rana (64) is likely to be lodged in barrack number 12 in Arthur Road jail if and when he is brought to the city to face trial.Barrack number 12 is the same building where Pakistani terrorist Ajmal Kasab was kept in a bomb-proof cell before his execution in Nov 2012."So far, no instructions have been issued. Once he is brought here, we will see where to keep him," said a jail official.Mumbai Central Prison, commonly referred to as Arthur Road jail, was built in 1925 and is spread over three acres. It has a capacity of 1,100 but on average, houses 4,000 inmates, inviting complaints of overcrowding and unhygienic conditions for undertrials. Barrack 12 is unique in that it is a more secure area, separate from the general barracks and not all its cells […]

[ad_1] NEW DELHI: Tahawwur Rana, one of the main plotters of the 2008 Mumbai attack, had contacted David Coleman Headley 231 times during his visits to India ahead of the 26/11 carnage, according to the Indian dossier on him. Rana conducted eight reconnaissance missions and the highest number of calls (66) were made during the final visit before the attack.According to the dossier, Rana and Headley, along with other operatives, had mapped other targets in India, including National Defence College and India Gate in Delhi and multiple Jewish centres, as part of their plan to carry out spectacular terror attacks. NIA's chargesheet on him details Rana, along with Headley, Hafeez Saeed, Zakiur Rehman Lakhvi, Ilyas Kashmiri, Sajid Mir and Major Iqbal, among others, had conspired to orchestrate the attack.Investigation by both India and US confirmed that Rana's Chicago-based immigration firm […]

[ad_1] File photo: FBI Director Kash Patel (Picture credit: ANI) FBI Director Kash Patel has been quietly removed as acting director of the bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and replaced by US Army secretary Daniel Driscoll, in a leadership shuffle that was not publicly disclosed by the justice department, news agency Reuters reported.Patel, who was controversially holding two top posts in the Justice Department, both FBI director and acting ATF chief, was sworn in to lead the ATF on February 24, just three days after assuming leadership at the FBI. However, his time at ATF appears to have ended in late February, though his name and photo remained on the agency’s website as of Wednesday afternoon and were still featured in an official ATF press release dated April 7, according to Reuters.A justice department official confirmed Patel’s […]

[ad_1] TOI correspondent from Washington: MAGA supremo Donald Trump on Tuesday paused his reciprocal tariff on most countries, including India, for 90 days, while further jacking up taxes on Chinese imports to 125 percent in an effort to isolate Beijing on the issue. In a post on his social media account, the US President said based on the fact that more than 75 Countries had reached out to US to negotiate a solution and these countries have not retaliated in any way, shape, or form against the US, he was authorizing a 90 day PAUSE. Still, the countries would have to pay "a substantially lowered reciprocal tariff of 10 per cent during this period effective immediately," he added. He however hiked tariff on China from 104 to 125 percent "based on the lack of respect that it has shown to […]

[ad_1] File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump on Wednesday defended his surprise decision to pause tariffs on most countries for 90 days, attributing the reversal to market reactions and what he described as people getting “a little yippy” and “afraid.”Speaking to reporters outside the White House during an event with NASCAR champions, Trump acknowledged that turmoil in financial markets, especially the bond market, prompted him to rethink his tariff stance. “I saw last night where people were getting a little queasy,” Trump said, adding, “The bond market right now is beautiful”.The president said his decision to ease tariffs came together “fairly early this morning,” and that it was written “from our hearts” in a Truth Social post. “We don’t want to hurt countries that don’t want to be hurt, and they all want […]

[ad_1] MUMBAI: RBI has moved to tighten oversight of gold-backed lending. In draft guidelines released on April 3, the central bank proposed a uniform cap on the loan-to-value (LTV) ratio for gold loans, limiting it to 75% of the collateral's worth. For NBFCs, this ceiling will apply uniformly, regardless of whether the loan is for consumption or other purposes. During Covid, RBI had relaxed norms and allowed up to 90% loan-to-value ratio for a year.RBI also called for greater internal accountability among lenders. Banks and NBFCs will be required to set their own LTV limits based on internal risk assessments. A standardised framework for valuing gold collateral is to be introduced, with lenders required to disclose the reference price and adopt a uniform method for assessing purity, as well as calculating gross and net weights. This valuation process must be […]

[ad_1] MUMBAI: RBI governor Sanjay Malhotra said he was more concerned about the impact of tariffs on growth rather than inflation, given the constraining effect of US President Donald Trump's levies on the global economy."First and foremost, uncertainty in itself dampens growth by affecting investment and spending decisions of businesses and households. Second, the dent on global growth due to trade frictions will impede domestic growth. Third, higher tariffs shall have a negative impact on net exports," Malhotra said on Wednesday. "There are, however, several known unknowns - the impact of relative tariffs, the elasticities of our export and import demand; and the policy measures adopted by govt including the proposed foreign trade agreement with the US, to name a few. These make the quantification of the adverse impact difficult," he said.The central bank governor asserted that while global trade […]

[ad_1] During the early days of LinkedIn, co-founder Reid Hoffman wanted employees to continue working from home after having dinner with their families. This was revealed recently due to resurfaced comments that highlight his controversial stance on work-life balance for startup employees. "When we started LinkedIn, we started with people who had families. So we said, sure, go home have dinner with your family. Then, after dinner with your family, open up your laptop and get back in the shared work experience and keep working," former LinkedIn CEO Hoffman stated in a podcast appearance last year. PollDo you think work-life balance is possible in startup culture?LinkedIn co-founder says work-life balance is not for start-upsHoffman maintains that a relentless work ethic is non-negotiable for startup success. "If I ever hear a founder talking about, 'this is how I have a balanced […]

[ad_1] TOI correspondent from London: A consortium of Indian banks celebrated on Wednesday after the UK high court refused Indian tycoon Vijay Mallya permission to appeal his UK bankruptcy order and the amended bankruptcy petition.The State Bank of India-led consortium is trying to claw back a £1 billion debt from Kingfisher Airlines founder Vijay Mallya who provided a personal guarantee in 2010 on loans the airline took out. The debt was registered in the English courts in 2017 and Mallya was made bankrupt in England in 2021.Mallya’s appeal against the bankruptcy order was that he did not owe the banks anything at the time of the petition as half or more of the petition debt had been received by the banks and the rest was interest which was being challenged in separate court proceedings in India.Judge Sir Anthony Mann refused […]