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Monthly Archives: June 2024

Indian-American Bruhat Soma Triumphs at Scripps National Spelling Bee

Indian-American Bruhat Soma Triumphs at Scripps National Spelling Bee

In a remarkable display of spelling prowess, Bruhat Soma, a 12-year-old Indian-American seventh-grader from Florida, has emerged victorious at the prestigious Scripps National Spelling Bee. Maintaining the dominance of the small ethnic community in this prestigious competition, Bruhat correctly spelled 29 words in the tiebreaker round, earning him more than $50,000 in cash and other …

England Cricketer Brydon Carse Slapped with Three-Month Ban

England Cricketer Brydon Carse Slapped with Three-Month Ban

England’s fast-bowling allrounder Brydon Carse has been handed a three-month suspension from all forms of cricket after being found guilty of breaching betting regulations. The 28-year-old placed a staggering 303 bets on various cricket matches between 2017 and 2019, leading to charges being brought against him. Accepted Charges, Received Partially Suspended Ban After accepting the …

India's Core Sector Growth Rises 6.2% in April

India’s Core Sector Growth Rises 6.2% in April

In April, India’s core sector, comprising coal, steel, cement, fertilizers, electricity, natural gas, refinery products, and crude oil, witnessed a notable 6.2% growth, reflecting positive momentum in key industries. This growth, driven by robust performances in sectors such as steel, electricity, and natural gas, contrasts with the 4.6% growth recorded in April 2023. However, it’s …

RBI Penalizes SBM Bank (India) With Rs 88.70 Lakh Fine

RBI Penalizes SBM Bank (India) With Rs 88.70 Lakh Fine

The Reserve Bank of India (RBI) has imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with specific regulatory norms. This includes licensing conditions and directives related to the Liberalised Remittance Scheme (LRS). Non-Compliance with Licensing Conditions The RBI penalized SBM Bank for not adhering to the licensing conditions imposed by …

Canara Bank to Dilute 14.50% Stake in Canara HSBC Life Insurance via IPO

Canara Bank to Dilute 14.50% Stake in Canara HSBC Life Insurance via IPO

Bengaluru-headquartered Canara Bank has approved initiating the process of diluting a 14.50% stake in its subsidiary, Canara HSBC Life Insurance Company, through an initial public offering (IPO). This move is pending approval from the Reserve Bank of India (RBI) and the Department of Financial Services (DFS). Currently, Canara Bank holds a 51% majority stake in …