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Sensex drops by 894 points, Nifty drops below 11,000-mark as Yes Bank shares plummets over 55%

The Sensex dropped by 894 points while the Nifty crashed below the 11,000-mark on Friday as curbs on Yes Bank triggered a crisis of confidence among domestic investors. Traders said that a heavy sell-off in global markets due to coronavirus concerns took a further toll on the share market.

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The Sensex dropped by 894 points while the Nifty crashed below the 11,000-mark on Friday as curbs on Yes Bank triggered a crisis of confidence among domestic investors. Traders said that a heavy sell-off in global markets due to coronavirus concerns took a further toll on the share market.

After nosediving over 1,459 points during the day, the 30-share BSE Sensex settled 893.99 points or 2.32 per cent lower at 37,576.62. Likewise, the broader NSE Nifty tanked 279.55 points or 2.48 per cent to close at 10,989.45.

Yes Bank plummeted over 55 per cent, after the RBI on Thursday placed Yes Bank under a moratorium and restricted withdrawal from the capital-starved bank at Rs 50,000 in the next one month. This restriction will remain in place till April 3, 2020.

The RBI also superseded the bank’s board and appointed an administrator for the period.

In a statement late on Thursday, the regulator said it was forced to step in after Yes Bank’s latest effort to raise new capital failed to materialize and as the lender “was facing regular outflow of liquidity.”

“Another bank bites the dust. This time its Yes Bank – one of the large private sector banks. RBI has stepped in and leading state-owned institutions are patching up a bailout plan for the bank and more importantly, safeguard the interest of depositors. However, the already weak sentiments have been dented further. The series of accidents in the Indian financial sector sends out a very poor message to the foreign investors. The negative bias is expected would sustain in the near term,” said Gaurav Dua, Senior VP, Head – Capital Market Strategy & Investments, Sharekhan by BNP Paribas.

Meanwhile, Finance Minister Nirmala Sitharaman on Friday assured Yes Bank depositors that their money is safe and all steps will be taken to ensure stability in the financial sector.

“Our government is committed to ensuring that depositors’ interests are safeguarded. I want RBI to ensure that due process of law is set to roll with a sense of urgency so that we should find out as to who led to the problem of this size & magnitude,” said the Minister.

Sitharaman has guaranteed Yes bank depositors, stating that their deposits, liabilities will not be affected.

“I have asked RBI to ago into assessing what has caused these difficulties for the bank and clearly identify the roles played by various individuals in creating the problem and not addressing it,” Sitharaman added.

“The immediate priority is to ensure Yes Bank customers are able to withdraw money within Rs 50,000,” said Sitharaman.

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Viral: Female student dances to Gela Gela song in front of her teacher, internet rushes in with witty remarks | Watch

One user took a humorous spin on the video as the user wrote that if these students don’t get more marks then who will get it, distastefully insinuating at the student’s dance can be perceived as a way of flirting with the teacher, who will award her with good marks in return.

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After dancing videos of students from Allen and Aakash coaching institute, Now another video of a similar nature has gone Viral on the internet where a student can be seen dancing to Gela Gela sung by Adnan Sami, and Sunidhi Chauhan. In the video, a female student can be seen dancing to the song directing her moves at the teacher who is standing beside her.

Another student, who is visible on the camera, can be seen bursting into laughter after watching her classmate directing her moves as the lyrics tum pehli baar mein deewana kargye played out in the background. The students in the classroom, who are not visible in the video, can be heard hooting and clapping at the funny instance. The video has been making rounds on the internet as many Twitter users came up with humorous takes after the video went viral.

One user took a humorous spin on the video as the user wrote that if these students don’t get more marks then who will get it, distastefully insinuating at the student’s dance can be perceived as a way of flirting with the teacher, who will award her with good marks in return.

Another user added to the conversation with a serious take as the student questioned what has happened to the teachers nowadays. The user added that having strict teachers in class must be a form of blessing for the class, suggesting that students nowadays are subjected to the same form of strictness that the generations before used to deal with.

Another video that coincides with the preceding one went viral earlier this month where a student can be seen dancing to Chikni Chameli song on the Teacher’s day in the classroom. The incident allegedly took place in Allen Coaching Institute and drew a lot of flak as well debate about the student dancing. The student in the song can be seen dancing as the students watching her hooted and praised her for her moves during her performance.

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Navratri 2022: Mumbai women perform Garba in local train, video viral | WATCH

One user, while admiring the Mumbai culture and calling them innovative, added that the lack of timing in one’s life inspires them to invent newer ways to make time for themselves as well as for the people around them.

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Mumbai local trains are infamous for all types of nuisances caused by the passengers on the train, however, a video from Mumbai local has come to light where a group of women can be seen in their Navratri spirits performing the Gujarati folk dance, Garba. In the video, a group of women can be seen standing in a circle in the middle of the coach and performing Garba while also singing and clapping in sync according to the Dance steps.

The women in the video can be seen having fun as all of them smile and chuckle throughout the performance. The passengers around also can be seen having fun at the sight of the Navratri Spirit. The video, after surfacing on the internet, has left the internet amused as many users came forward with a humoristic admiration for the dancing women.

One user, while admiring the Mumbai culture and calling them innovative, added that the lack of timing in one’s life inspires them to invent newer ways to make time for themselves as well as for the people around them.

Another user added to the conversation and wrote that this is the life in Mumbai’s lifeline, implying that this is an everyday affair that escalates in Mumbai local and can only happen in Mumbai local.

Another video from Mumbai’s Local went viral recently where an elderly woman can be seen selling chocolates, biscuits, and cakes to earn a living to get by. The Twitter handle that uploaded the video wrote and remarked that some enjoy the luxuries of life whereas some are subjected to hardship and struggle. The user added that this woman and thousands of people like her work hard and earn a living. The user further urged people to buy goods from them as it helps them get by.

After the video went viral, the Hemkunt foundation approached the elderly women to enter their monetary help, however, the elderly women refused any monetary help. The foundation did try to find a common ground as they bought all of her stock for the day and urged her to take a day off.

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Central Government bans PFI and associates for 5 years, Congress MP asks why not RSS

Many BJP leaders have celebrated and welcomed the step taken by the central government as Delhi BJP leader, Kapil Mishra, came forward and wrote on his Twitter that banning PFI is a pivotal step to stop Islamic Jihad.

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The central government on Tuesday night announced a ban of 5-years on the Popular Front of India (PFI) and its affiliated organizations. The ban comes to light after a nationwide crackdown on the PFI and its associated by the investigative agencies which was carried out in the span of 2 weeks and resulted in 247 arrests so far.

The Central government in their declaration informed that PFI and its associates have been banned under the Unlawful Activities (prevention) act (UAPA). The center also cited that the political organization has been linked with the Students Islamic Movement of India (SIMI), Jamat-ul-Mujahideen Bangladesh (JMB), and the Islamic State (ISIS).

The Home Ministry in their issued statement added that the PFI has been pursuing a secret agenda to radicalize a sect of the society and added that the organization and its affiliates have the potential to disturb the peace and communal harmony by jeopardizing the integrity, sovereignty, and security of the country.

Throughout the Nationwide raids on PFI and its affiliates, in a collaborative effort by the NIA and ED and the administration were able to cover 15 states which led to 100 arrests on 22 September. Whereas, in the second round, 27 of September, the toll of arrests tallied up to 247 arrests according to the reports.

The affiliated organizations which are banned for 5 years include Rehab India Foundation (RIF), Campus Front of India (CF), All India Imams Council (AIIC), National Confederation of Human Rights Organisation (NCHRO), National Women’s Front, Junior Front, Empower India Foundation and Rehab Foundation, Kerala.

The decision to ban the organization and its affiliates was considered based on the investigative agency’s reports. The ban was also implemented after considering the recommendations from three states, Karnataka, Gujarat, and Uttar Pradesh.

Many BJP leaders have celebrated and welcomed the step taken by the central government as Delhi BJP leader, Kapil Mishra, came forward and wrote on his Twitter that banning PFI is a pivotal step to stop Islamic Jihad.

However, Congress party’s MP Kodikunnil Suresh scrutinized the center’s ban on PFI and added that it is not the solution and further remarked that the Rashtriya Swayam Sevak Sangh is also a counterpart to the threat of harmony as the RSS is also spreading Hindu communalism throughout the country. Why is RSS not being subjected to such bans asked Congress leader.

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