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LIC clarifies Pradhan Mantri Jeevan Jyoti Bima Yojana holders not eligible to avail IPO benefits

In a statement, the LIC informed their policy holders about the misinformation that PMJJBY policy holders can apply in the category reserved for policyholders in IPO, is incorrect. Please note it has been inadvertently mentioned. It is a group insurance product and isn’t eligible, the LIC said.

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The Life Insurance Corporation ( LIC )

The Life Insurance Corporation on Tuesday confirmed that the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) holders not eligible to avail IPO benefits offered to policyholders in its proposed initial public offering (IPO). The LIC also ended up the misinformation that the PMJJBY policy holders will be eligible for the IPO benefits.

In a statement, the LIC informed their policy holders about the misinformation that PMJJBY policy holders can apply in the category reserved for policyholders in IPO, is incorrect. Please note it has been inadvertently mentioned. It is a group insurance product and isn’t eligible, the LIC said.

The LIC’s statement came a day after its chairman M R Kumar had ensured the PMJJBY subscribers for the IPO benefits. Later, the LIC clarified that it was inadvertently mentioned.

As per the Draft Red Herring Prospectus (DRHP) submitted by LIC with the SEBI, 10% of the total LIC shares will be kept reserved for the LIC policyholders.

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The LIC IPO is expected by March. Once listed, its market valuation would be comparable to top companies like RIL and TCS.

The PMJJBY provides risk coverage of Rs 2 lakh in case of death due to any reason. The scheme is eligible for the people age group between 18 to 50 years. It gives the premium of Rs 330 per annum.

India News

Arvind Kejriwal asks people to light diyas, not burst crackers ahead of Diwali

On October 14, Rai announced a ban on the production, storage, distribution, and use of firecrackers in the city until January 1, 2025.

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Former Delhi Chief Minister and AAP national convener Arvind Kejriwal on Wednesday asked residents of the national capital to refrain from bursting firecrackers and light diyas in Diwali, noting that Deepavali is a festival of lights and not firecrackers.

Addressing a press conference, the former Chief Minister said, “Even the Supreme Court and High Court have said that, in light of the pollution, we should refrain from bursting crackers and instead light diyas. This is the festival of lights, not fireworks. It is not about doing anyone a favor. The pollution that occurs will impact our children, so this issue transcends religion. Every life is important.”

This statement comes amid rising air pollution in the national capital. Delhi’s air quality has worsened over the past several days, prompting the Delhi government to implement measures aimed at controlling air pollution, including a crackdown on firecracker usage.

Earlier, Delhi Environment Minister Gopal Rai has written to Lieutenant Governor Vinai Kumar Saxena, urging him to take strict action against violations of the firecracker ban in the national capital.

On October 14, Rai announced a ban on the production, storage, distribution, and use of firecrackers in the city until January 1, 2025.

In his letter, Rai expressed concern that, despite the ban, firecrackers were being openly sold in various markets in Delhi. He noted that these firecrackers were being transported across borders connecting Delhi to Haryana and Uttar Pradesh.

Rai indicated that the Delhi Police, as law enforcement agencies, appeared to be neglecting the directions to enforce the firecracker ban, allowing vendors to openly flout the restrictions.

As of Tuesday, a thin layer of smog covered the National Capital, with parts of Delhi’s air quality remaining in the ‘very poor’ category. The Central Pollution Control Board (CPCB) reported an Air Quality Index (AQI) exceeding 300 around 7:00 am. At Anand Vihar, for instance, the AQI reached 317, while Aya Nagar recorded an AQI of 312—both in the ‘very poor’ category. Jahangirpuri also had a high AQI of 308. In contrast, Chandni Chowk reported better air quality, at an AQI of 191, which is considered ‘moderate.’

Meanwhile, Delhi BJP leaders noted that 108 incidents of stubble burning were recorded in Punjab. They protested against Punjab Chief Minister Bhagwant Mann regarding air pollution concerns at Kapurthala House. A delegation of leaders sought a meeting with the Punjab Chief Minister to submit a memorandum but was unable to meet him.

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RJD MP Manoj Jha says Election Commission has become part of agenda

In a letter to the Congress party, the Commission urged them to refrain from making unfounded claims after every election, accusing the party of creating generic doubts without substance.

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RJD MP Manoj Jha said on Wednesday that the Election Commission of India has become a part of the agenda after the election body rejected the Congress allegations about irregularities in the recently concluded Haryana Assembly elections.  

Hitting out at the Election Commission, the Rajya Sabha MP said that the ECI must be the custodian of a free and fair election, not the custodian of any machine, not of any paper.

“Congratulations to the Election Commission for being included in the agenda. When the structure of Article 324 was conceived, it was not conceived in the form of a machine or paper custodian but in the form of a free and fair election,” he said.

He added, “If you have even 1% doubt, then what stops you from going back to the ballot? I would like to say that the Chief Election Commissioner, you are the custodian of a free and fair election, not the custodian of any machine, not of any paper.”

The RJD leader’s comment came after ECI rejected allegations made by the Congress party regarding irregularities in the recent Haryana elections, labelling them as baseless, misplaced, and devoid of facts.

In a letter to the Congress party, the Commission urged them to refrain from making unfounded claims after every election, accusing the party of creating generic doubts without substance.

The Election Commission of India has advised Congress to implement strict measures to prevent irresponsible allegations, especially during sensitive periods like polling and counting days. Such claims could lead to public unrest, turbulence, and chaos.

The ECI highlighted five specific cases from the past year and urged Congress, a national party with significant experience, to practice due diligence and refrain from making habitual, evidence-free criticisms of the electoral process.

After a thorough re-verification by returning officers of all 26 contested Assembly constituencies, the ECI wrote to Congress President Mallikarjun Kharge, confirming that every step in the Haryana electoral process was executed flawlessly and was monitored by Congress candidates or their agents.

In response to Congress’s concerns about the EVM battery display, the ECI clarified that the battery’s voltage and capacity do not affect the voting functionality or integrity of the EVMs.

“The battery status displayed on the control unit is solely for technical teams to monitor power levels, ensuring smooth operation during polling,” the ECI stated.

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India, China complete disengagement in Depsang, Demchok at LAC after 4 years standoff

The Indian Army said that coordinated patrolling will start soon by both sides, and the ground commanders will continue to hold talks.

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India, China complete disengagement in Depsang, Demchok at LAC after 4 years standoff

In a significant development, India and China have completed the disengagement exercise in the Depsang and Demchok friction points at the Line of Actual Control (LAC) in eastern Ladakh. The troops of both the countries are now verifying the vacation of positions and removal of infrastructure.

Reportedly, the Indian Army said that coordinated patrolling will start soon by both sides, and the ground commanders will continue to hold talks. The two sides will exchange sweets for Diwali tomorrow.

Earlier, Foreign secretary Vikram Misri announced that New Delhi and Beijing reached an agreement to disengage in the remaining friction points at LAC in eastern Ladakh. After the agreement, the two countries began troops disengagement at the two friction points at Demchok and Depsang plains on October 23.

India-China relations worsened because of the Chinese troops’ aggression along the Line of Actual Control, the de facto border, in April 2020. It further deteriorated on June 15, 2020, after 20 Indian soldiers died in the line of duty thwarting the Chinese offensive in the Galwan Valley. New Delhi had said India’s bilateral relations with China will normalise only after the situation at the LAC returns to what it was before May 2020.

Reports said that the Indian Army and the Chinese People’s Liberation Army (PLA) have pulled back their forward-deployed troops and equipment from the two flashpoints, and have also dismantled temporary structures that had been built during the four-year-long standoff.

The Indian soldiers will resume their patrolling in areas that had been cut off because of the PLA’s presence. Nonetheless, the disengagement in Depsang and Demchok will not lead to the creation of buffer zones.

Both the countries had disengaged from Galwan Valley, Pangong Tso, Gogra (PP-17A) and Hot Springs (PP-15) areas and created buffer zones. Speaking to a newspaper publication, Lieutenant General Vinod Bhatia (retd), a former director general of military operations said that the disengagement at Depsang and Demchok will facilitate patrolling by both sides in a coordinated manner, and in the agreed upon frequency and strength of the patrolling parties.

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