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SWAMY, SIDHU, MARY KOM AMONG SIX NOMINATED TO RAJYA SABHA
The Rashtrapati Bhavan on Friday approved a list of six nominated members to the Rajya Sabha, including senior BJP leader Subramanian Swamy, former Test cricketer and BJP MP Navjyot Singh Sidhu and boxing legend Mary Kom among others.
Economist and former member of the Sonia Gandhi-led National Advisory Council Narendra Jadhav has also been nominated for a Rajya Sabha seat, along with journalist Swapan Dasgupta and Malayalam actor Suresh Gopi.
These nominations to the Upper House are for achievers in various spheres of public life, and total 12 in number. As of now, there are seven vacancies among these 12, for which six names have been announced, and one kept in abeyance.
Of these, Mr. Sidhu’s nomination is politically most significant as there had been talk that the former cricketer was negotiating with the Aam Aadmi Party (AAP) just ahead of the Assembly polls in Punjab.
The AAP lacks a strong Sikh face in its leadership in the State, and sources suggested that Mr. Sidhu was in active talks with the party after falling out with the high command in the BJP on giving up his Amritsar seat to Arun Jaitley in the 2014 general elections.
With this, things could get very interesting for the Congress in Punjab which is fighting the elections in the State under the leadership of Capt. Amarinder Singh, the current MP from Amritsar.
HDFC BANK’S QUARTERLY PROFIT INCREASES BY 20%
HDFC Bank, the second largest private sector lender in the country, reported 20.2 per cent increase in net profit to Rs. 3,374.2 crore for the quarter ended March 31, 2016 compared to the year ago period due to robust growth in loans.
Net interest income, which is interest earned less interest expended, for the reporting period increased by 24 per cent to Rs. 7,453.3 crore from Rs. 6,013.2 crore mainly driven by average assets growth of 23.8 per cent and a higher core net interest margin of 4.3 per cent, according to a statement from the bank. HDFC Bank reported loan growth of 27 per cent year-on-year, as compared to the banking sector loan growth of 10.7 per cent.
Deposits increased 21.2 per cent compared to 9.7 per cent for the sector on the back of strong growth in current and savings account deposits.
BENTLEY LAUNCHES FIRST SUV IN INDIA PRICED AT RS 3.85 CRORE
Bentley on Friday introduced its first SUV — Bentayga, in the Indian market with prices starting from Rs 3.85 crore (ex-showroom Delhi). The luxury SUV is powered by a 6 litre turbo charged petrol engine delivering 600 bhp. It can accelerate from 0-60 miles per hour in 4 seconds, while the top speed is 301 kmph. Exclusive Motors, which is the company’s dealer in India, said it has already received some bookings for the “world’s fastest luxury SUV” and the delivery will start within two weeks. The company takes about 5-6 months to deliver the product once it received the order.
This year Bentley is producing about 2,600-2,700 units of the Bentayga. It is targeting 3,000 units a year going forward. Bentley sells models such as Continental GT and Flying Spur which are priced Rs. 3.55 crore onwards.
THOSE GIVING UP LPG SUBSIDY CAN APPLY AFTER 1 YEAR: MINISTER
Those who voluntarily give up the LPG cylinder subsidy under the government’s Give It Up scheme can ask for it after a year, Petroleum and Natural Gas Minister Dharmendra Pradhan said on Friday.
He also said his Ministry had not used the data from income tax returns to cut subsidy for people earning over Rs. 10 lakh a year. “Give It Up is for one year. You do not need to apply to give it up again, you will still be considered as having given it up. But, after a year, the person can re-apply for the subsidy if he wishes,” Mr. Pradhan told reporters here.