LIVE: Army Chief briefs Rajnath Singh on eastern Ladakh situation

PM Modi will launch 'Atma Nirbhar Uttar Pradesh Rozgar Abhiyan'. RBI to hold virtual board meeting. Stay tuned with Business Standard for the latest news of today

The Reserve Bank of India (RBI) will today hold its first virtual board meeting since the outbreak of Covid-19.

Prime Minister Narendra Modi will launch the 'Atma Nirbhar Uttar Pradesh Rozgar Abhiyan', which seeks to promote local entrepreneurship and create partnership with industrial associations to provide employment opportunities.

According to an official statement, the Uttar Pradesh government envisaged the Atma Nirbhar Uttar Pradesh Rojgar Abhiyan (self-reliant UP employment campaign) to dovetail central and state government's programmes, while also creating partnerships with industry and other organisations.

Stay tuned for the latest news of the day

3:11 AM

Border dispute: Indian envoy warns China of 'ripples and repercussions'

India’s envoy to Beijing on Friday said Chinese troops have occupied territory on the Indian side of the Line of Actual Control (LAC) in the Galwan Valley in eastern Ladakh, and demanded that they move back to their side of the border for normalcy to return to bilateral relations.

“India hopes China will realise its responsibility in de-escalation and disengaging by moving back to its side of LAC,” PTI tweeted, quoting the  Indian envoy to China. Read more

9:46 PM

Army Chief briefs Rajnath on eastern Ladakh situation

Army Chief Gen MM Naravane on Friday briefed Defence Minister Rajnath Singh on the overall situation in eastern Ladakh as well as India's military preparedness in the region where Indian and Chinese troops are locked in a bitter standoff, official sources said. The Army Chief was in Ladakh on a two-day visit from June 23 to take stock of the situation. "The Chief of the Army Staff apprised the defence minister about the situation in eastern Ladakh," said a military source.

9:30 PM

China's claim of sovereignty over Galwan completely "untenable"; such exaggerated claims are not going to help: Indian envoy to China.

9:30 PM

It is entirely China's responsibility to take a careful view of bilateral ties; decide which direction to move forward: Indian envoy

9:30 PM

India hopes China will realise its responsibility in de-escalation and disengaging by moving back to its side of LAC: Indian envoy to China

9:29 PM

China has to stop the practice of transgressing and trying to erect structures on the Indian side of the LAC: Indian envoy to China.

9:29 PM

India has always carried activities on the Indian side of the LAC: Indian envoy

9:29 PM

China should stop creating obstructions and hindrances in normal patrolling of Indian troops: Indian envoy to China

8:59 PM

PhonePe partners with ICICI Bank on UPI multi-bank model

Flipkart-owned PhonePe on Friday said it has partnered with ICICI Bank on UPI multi-bank model, giving its users the option to create and use multiple UPI IDs with ICICI and Yes Bank's handles.
 

"PhonePe has partnered with ICICI Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI Bank's '@ibl' handle and YES Bank's '@ybl' handle on the PhonePe app," a statement said.
 

This addition, in partnership with ICICI Bank, enables quick and contactless payments to over 200 million registered PhonePe users, the statement added.

8:53 PM

Finance Commission forms group to devise ways to incentivise states for agri reforms

The Finance Commission on Friday decided to form a group to devise a mechanism to incentivise states for carrying out the agricultural reforms announced as part of the Rs 20 trillion stimulus package.
 

A decision in this regard was taken by 15th Finance Commission Chairman N K Singh in a meeting with Agriculture Minister Narendra Singh Tomar and senior officials of his ministry.
 

The group's views will be included in the Commission's final report for the period 2021-26, an official statement said.
 

The group consists of Finance Commission member Ramesh Chand, Agriculture Secretary Sanjay Agarwal and Agriculture, Research and Education Secretary T Mahapatra.
 

The group has been set up "to devise mechanism for incentivisation of states in areas of agricultural reforms agenda for the purpose of inclusion in the Commission's recommendations in its final report", it said.

8:40 PM

Look for alternate sources of supplies, Ficci tells members

Amid the ongoing border tensions with China, industry chamber Ficci on Friday asked its members to look for alternate sources of supplies and not remain dependent on a single nation.
 

"We have been standing shoulder to shoulder with the government in dealing with the situation and have been sharing with you our inputs and responses to the government.
 

"Ficci and its members have been supporting all the steps taken by the government in handling the standoff at Galwan valley, and will continue to support," Ficci President Sangita Reddy said in a letter to members on the India-China standoff and the industry's action plan.
 

Reddy said "while measures have been taken at the government level, it is equally important that industry also takes some actions to strengthen the government's hand in putting 'India first'."


She further said the industry needs to focus on the five-point 'PEACE' action plan -- Productivity, Efficiency, Alternates, Competitiveness and Exports.

8:32 PM

Congress leader Neeraj Bhati arrested in Shimla over alleged anti-national posts

8:11 PM

Sebi imposes Rs 5 million fine on Surana Corp, former MD

Sebi on Friday slapped a total fine of Rs 5 million on Surana Corporation and its former managing director Vijayraj Surana for inflating the company's asset position and non-disclosure of price sensitive information.
 

The regulator levied a penalty of Rs 2.5 million each on Surana Corporation Ltd (SCL) and Surana.
 

Besides, it levied a fine of Rs 100,000 on company's statutory auditor Prithviraj Jain.
 

The regulator had conducted a probe following a complaint received from Chennai Zonal Unit - Department of Revenue Intelligence (DRI), Ministry of Finance in the matter.
 

The complaint mentioned that a search operation was conducted by DRI at the showroom and factory premises of SCL during October 2014.

 

8:00 PM

Microsoft to close physical stores, take $450 million hit

Microsoft Corp said on Friday it would close its retail stores and take a related pre-tax asset impairment charge of $450 million in the current quarter.
 

The Redmond, Washington-based software giant said would continue to serve customers online, with team members working remotely from corporate facilities.
 

It was not immediately clear if Microsoft's move would lead to any layoffs. The company also said it will rethink other spaces that serve all customers, including operating Microsoft Experience Centers in London, New York City, Sydney, and Redmond campus locations.

7:53 PM

SC stays proceedings in 3 FIRs lodged against journalists in West Bengal

The Supreme Court Friday stayed further proceedings in three FIRs lodged in West Bengal against some persons, including editors of a news web portal, regarding articles published by them.
 

The apex court also issued notices to the West Bengal government and the Centre seeking their replies on a plea filed by Nupur J Sharma, the editor of English language Opindia.com, and others including its founder and CEO.
 

"Issue notice. Further proceedings in pursuance to the FIRs are stayed," a bench comprising Justices S K Kaul and B R Gavai said in its order.
 

The bench was hearing a petition filed by Sharma and others including the founder and CEO of news portal and editor of its Hindi language publications who have claimed that the West Bengal government and its "authoritarian Kolkata Police" is misusing FIRs and "brute police-powers" to intimidate journalists.
 

The petitioners were represented in the apex court by senior advocate Mahesh Jethmalani and lawyer Sandeep Kapur.