1.Monsoon gap narrows, worries remain in some areas
A revival in the southwest monsoon may have narrowed India's rainfall is 17 per cent short of the normal, but several regions had received far less than the national average till August 8.
India Meteorological Department data shows after the first week of August rainfall in the worst affected states, Punjab and Haryana, was 68 per cent and 55 per cent below normal, respectively. The gap was lowest in Arunachal Pradesh and the Vidarbha region of Maharashtra at 20 per cent.
2.Shambolic India succumb to innings defeat at Old Trafford
Take out India's historic win at Lord's and the side doesn't look much different than the one which toured England in 2011. One would have imagined that after being bowled out for 152 in the first innings, the Indian batting order would show at least an ounce of resilience, but it wasn't to be as they surrendered to England inside three days (technically two) for an innings defeat in the fourth Test at Old Trafford.
3. No Ebola in India
The Government today denied any fears of Ebola virus having entered India.
The ministry of Health and Family Welfare said that the WHO had informed that one Indian passenger had travelled on the same flight with a foreign national infected with Ebola virus who was travelling from Monrovia to Lagos.
"This Indian passenger is back in India. He has been tracked and his health is being regularly monitored," the Health Minister Harsh Vardhan said, adding that the person is healthy.
However, the Ebola virus can remain dormant within a person for up to 21 days before symptoms of Ebola Virus Disease show up. The patient, as such, needs to be monitored on a regular basis.
4.FSDC sub-committee reviews economy
Chaired by Reserve Bank Governor Raghuram G Rajan, the Sub Committee of the Financial Stability and Development Council (FSDC) reviewed the domestic macro economy and potential risks facing the financial system in New Delhi on Saturday.
The Sub-Committee reviewed the major provisions of the Union Budget and discussed time lines for their implementation. It also deliberated upon a draft roadmap for creating standards and protocol for setting up account aggregation facility for financial assets was also deliberated in the meeting.
These included one single demat account for all financial assets; introduction of uniform Know Your Client (KYC) norms and inter-usability of KYC records across the financial sector; strengthening and deepening the markets for corporate bonds, currency derivatives and interest rate futures; and participation of Domestic Financial Institutions and Foreign Institutional Institutions in the commodities market.
5.CBI probes IDBI Bank loan to Kingfisher Airlines
The Central Bureau of Investigation (CBI) has served an inquiry notice on IDBI Bank over a loan of Rs.950 crore it extended to Vijay Mallya-led troubled airline Kingfisher Airlines, saying this extent of exposure was not bona fide.
The probe agency’s notice to IDBI Bank comes days after it arrested the Chairman and Managing Director of Syndicate Bank, S. K. Jain, for allegedly accepting bribes from some companies, notably Bhushan Steel, to hike their credit limits without basis.
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