The New Year has begun on a positive note for Maharashtra as the state’s Chief Minister Devendra Fadnavis along with Dangal super star Aamir Khan recently launched the second edition of Satyamev Jayate Water Cup, a Paani foundation initiative.

The event took place in Mumbai at the Sahyadri State Guest House on Tuesday.

Minister for water conservation, Shri Ram Shinde along with various prominent personalities from Hindi and Marathi film industry graced the occasion.

The highlight of the event was the anthem song for the water cup. Directed by Nagraj Manjule, composed by leading music directors Ajay- Atul and sung by none other than Paani Foundation's Co-founder Kiran Rao, the song strikes a chord.

Aamir, who is the co-founder of Paani Foundation along with other actors and many Water Heroes were present on the launch day.

Bollywood’s ‘Mr. Perfectionist’ Aamir unveiled the Satyamev Jayate Water Cup anthem.

The Paani Foundation began their initiative with 3 districts in 2016 and now 30 districts have been included and targeted for the cause.

The ‘Satyamev Jayate Water Cup’ is basically a competition between different villages where their efforts for water conservation is awarded and watershed is observed to be corrected.

The Satyamev Jayate Water Cup 2017 competition will begin from April 8 and continue till May 22 this year.

Romanian tennis star Simona Halep conceded a shock defeat to the Czech Republic's Katerina Siniakova 3-6, 6-4, 5-7 in the second round of the WTA Shenzhen Open here on Wednesday.

The deciding set became a tit-for-tat battle as they broke each other during the first five games, and the Czech took the upper hand at 4-2 by holding her own for the first time in the sixth game. Then the second seed also held her game for 4-3 and broke again for 4-all, reports Xinhua.

After both kept their games to 5-all, the 20-year-old Siniakova broke world No.4 Halep again in the 11th game and took a commanding 6-5 lead. 

Although the Romanian survived the first match-point, the 52nd-ranked Siniakova grabbed her second chance and sealed the match in 124 minutes when Halep returned into the net.

"I think she played really well. She is a strong player, I never played before against her. I think she has good shots, very powerful, so she deserves to win today," said the Romanian.

Halep, the winner here in 2015, started off slowly as she fell behind 0-4 in the first set and quickly lost it.

"I was struggling, I didn't feel very good to my game. There is no excuse about that, she managed to be stronger on the court and that's why she could win," Halep told the post-match press briefing.

The 2015 former champion gradually bounced back and won the second set when she held her game to 5-4 before Siniakova failed in her effort and conceded it 6-4 with an unforced error on return.

India's space agency ISRO will launch a record 103 satellites–all but three of them foreign–at one go on a single rocket in the first week of February in what will be a major feat not attempted by any country.

As India looks to grab a larger slice of the lucrative commercial space market, 100 of the 103 satellites set for launch by ISRO's workhorse rocket PSLV-C37 in February from from its Satish Dhawan Space Centre in Sriharikota in Andhra Pradesh belong to foreign nations, including the US and Germany.

"We are making a century by launching over 100 satellites at one go," S Somnath, Director of the Liquid Propulsion Systems Centre of the Indian Space Research Organisation (ISRO), told a plenary session on the second day of the ongoing Indian Science Congress here today.

The space agency had earlier planned a launch of 83 satellites in the last week of January, of which 80 were foreign ones. But with the addition of 20 more foreign satellites, the launch was delayed by a week and will now take place in first week of February, Somnath said.

He, however, did not specify the number of countries that would launch its satellites in this mission, but said it includes nations like the US and Germany.

"These will be 100 micro-small satellites, which will be launched using a PSLV (Polar Satellite Launch Vehicle)- C37.

The weight of the payload will be 1350 kgs, of which 500-600 kgs will be the satellite's weight," Somnath added.

The launch will be a major feat in country's space history as no exercise on this scale has been attempted before.

Last year, ISRO launched record 20 satellites at one go.

The highest number of satellites launched in a single mission is 37, a record that Russia set in 2014. The US space agency NASA launched 29.

Prime Minister Narendra Modi's pet South Asian satellite project, meanwhile, will take off in March.

The South Asian satellite will be a part of GSAT-9, which will be launched in March this year, M Nageshwara Rao, Associate Director of ISRO said.

The communication satellite was to be launched in December 2016, but was slightly delayed as some other satellites are to be launched before that.

Sources said talks with Afghanistan to have the country on-board for the project is in its final stages.

Envisaged as a gift to its neighbours, the project, earlier known as SAARC satellite, faced stiff resistance from Pakistan. The neighbouring country wanted it to be launched under the aegis of the South Asian regional forum. It later backed out of the project.

Apart from India, the satellite will benefit Sri Lanka, Maldives, Bangladesh, Nepal and Bhutan.

There is an invisible yet strong bond between a book and its reader. The smell of a book is fragrance to a bibliophile.

A book is a companion, a confidant and a best friend. A book borrowed from a library is a shorter love affair than a book that you own forever but the bond is eternal.

Books give you an escape from the world as you sink deeper and deeper into it and at the same time it is capable enough to make you alert by activating all your senses.

Once you start reading a book, it is hard to stay ignorant yet you slip into a fantasy world.

A travel partner, a warm hug and a cuddle in those lonely nights, book is always there by your side.

Those moments when you are surrounded by people, standing in the middle of a crowd and still feeling lonely, your book becomes your saviour.

Sitting silently inside your bag, it patiently waits to be held, pulled out, opened up and read. Like a sleeping baby it lies in your lap silently and like a partner it walks with you on the isolated roads.

Those pages in the book embrace a story written by the author and another story that you write with your fingerprints.

A book lover waits for the day to end, so that he can finish off the chores and finally get into the bed to read it. One of the smoothest and best ways to sleep is to read till you obliviously doze off.

And in those nights when insomnia kicks in, a book makes sure that you do not feel alone.

For those who say they do not like reading, must give it a try and see how magical the world of books is. When real world disappoints in many ways, a book gives plenty of reasons to rejoice and escape the hardships around.

The silence around you disappears when the magical world of book pops out. A reader’s world of imagination is much more colourful than the real world.

It never complains and always promises you a companionship for life. It manages to stay when everybody leaves. It replaces loneliness with bliss.

The coarseness of paper, the glace of cover and those bookmarks are not less than a lover’s touch.

Paperback or hardbound, light or heavy, a book is a little paradise found in different shapes and sizes.

Book thin or thick, is always beside you through thick and thin.

A book might wear out and not survive but it manages to live with you forever.

The Aam Aadmi Party (AAP) on Wednesday accused the BJP of taking recourse to nationalism and patriotism whenever it was cornered on any issue.

Releasing a video clip of BJP Delhi chief Manoj Tiwari seemingly making fun of people standing in bank queues, AAP MLA Sourabh Bhardwaj said the Bharatiya Janata Party was playing with people's sentiments.

In the video, Tiwari is seen telling other BJP leaders how he invoked patriotic sentiments to goad people into standing in queues at banks and ATMs after the November 8 demonetisation.

The other BJP leaders are seen laughing with him.

Bhardwaj told reporters that the issue was not about BJP leaders making fun of people but about the BJP's larger strategy.

"Whenever BJP leaders are left with no reasonable argument, they resort to issues of patriotism and nationalism," he said.

Indian Army's new chief, General Bipin Rawat, on Wednesday said that India will give a calibrated and “hard” response to terrorism emanating from across the border.

“India will give a calibrated hard response to terror from across the border. We have to retaliate and ensure that the pain is felt by terrorists and their supporters,” Rawat said.

General Rawat, who assumed office of the army chief on the New Year's Day had said that the nation wanted peace and tranquillity but if necessary "will not hesitate to use force".

With inputs from agencies
 

Bombay Stock Exchange (BSE) will conduct a mock trading session on Saturday to test softwares related to trading and risk management.

To conduct the trading, the BSE has asked trading members with user IDs approved for algorithmic-based (algo) trades to participate in the mock session

The trading would be held for the currency derivative segments, equity derivatives and equity segments.

“The Exchange has scheduled a mock trading session… on Saturday,” BSE said in a notification, adding, the testing is “regarding testing of software used in or related to Trading and Risk Management”.

“Trading members shall ensure that all user-ids approved for Algorithmic trading, irrespective of the algorithm having undergone change or not, shall participate in the mock trading session,” the exchange informed.

“Trading members using third party trading platforms can also use this opportunity to test their respective trading application during mock trading session for various functionalities (including exceptional market conditions),” it added.

Sri Lanka's cabinet on Wednesday approved to launch a national programme to protect children from various threats, Cabinet spokesperson Rajitha Senaratne said.

Senaratne said it had been decided to implement the "Let's Protect Children" programme from 2017 to 2019, reported Xinhua news agency.

The programme will cover crime, health, nutrition and welfare, personality development, education and life skills.

The opposition Trinamool Congress (TMC) on Wednesday reiterated its demand for a probe by the CBI and ED into the activities of all illegal NBFCs and chit fund organisations in Tripura and warned of a stir on the issue.

The state TMC announced an agitation from January 19 to force the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to probe the illegal activities of Non-Banking Financial Companies (NBFCs) and chit fund organisations.

The party claims that Chief Minister Manik Sarkar as well as ministers and leaders of the ruling Left Front in Tripura are involved in the activities of these organisations.

"Sarkar promoted the business of Rose Valley; his party colleagues, including two ministers, are either involved or promoted the business of NBFCs and chit fund organisations," TMC leader Sudip Roy Barman told reporters here.

He said: "The CBI and the ED are taking action against TMC parliamentarians and leaders in West Bengal but both the agencies are not acting in Tripura."

Alleging a tacit understanding between the CPI-M and the Bharatiya Janata Party-led central government, Barman said they will soon meet Prime Minister Narendra Modi to ask for CBI and ED probes into NBFCs and chit fund bodies' activities.

Denying the TMC charges, CPI-M state Secretary Bijan Dhar said Tripura's Left Front government was the first in India to enact laws to curb unlawful activities of chit fund companies and NBFCs and repeatedly asked the CBI to investigate their activities.

"The TMC leaders have no issue and they are playing an old record just to misguide the people," Dhar told reporters.

The Communist Party of India-Marxist is a dominant partner in the Left Front that comprises four Left parties.

The Tripura High Court last year asked the state government to set up a Special Investigation Team (SIT) to probe illegal NBFCs and chit fund organisations.

Meanwhile, SIT head and Tripura's Inspector General of Police (Law and Order) K.V. Sreejesh told the media on Wednesday that the SIT is now probing 78 cases involving 48 NBFCs and chit fund organisations and had arrested 112 persons.

"We have seized bank accounts and attached properties of most of these organisations. We will soon complete our probe," the IPS officer added.

In 2013, the Tripura government referred 37 cases relating to chit fund companies and NBFCs to the CBI. The central probe agency, however, took up only five cases.

The opposition Trinamool Congress (TMC) on Wednesday reiterated its demand for a probe by the CBI and ED into the activities of all illegal NBFCs and chit fund organisations in Tripura and warned of a stir on the issue.

The state TMC announced an agitation from January 19 to force the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to probe the illegal activities of Non-Banking Financial Companies (NBFCs) and chit fund organisations.

The party claims that Chief Minister Manik Sarkar as well as ministers and leaders of the ruling Left Front in Tripura are involved in the activities of these organisations.

"Sarkar promoted the business of Rose Valley; his party colleagues, including two ministers, are either involved or promoted the business of NBFCs and chit fund organisations," TMC leader Sudip Roy Barman told reporters here.

He said: "The CBI and the ED are taking action against TMC parliamentarians and leaders in West Bengal but both the agencies are not acting in Tripura."

Alleging a tacit understanding between the CPI-M and the Bharatiya Janata Party-led central government, Barman said they will soon meet Prime Minister Narendra Modi to ask for CBI and ED probes into NBFCs and chit fund bodies' activities.

Denying the TMC charges, CPI-M state Secretary Bijan Dhar said Tripura's Left Front government was the first in India to enact laws to curb unlawful activities of chit fund companies and NBFCs and repeatedly asked the CBI to investigate their activities.

"The TMC leaders have no issue and they are playing an old record just to misguide the people," Dhar told reporters.

The Communist Party of India-Marxist is a dominant partner in the Left Front that comprises four Left parties.

The Tripura High Court last year asked the state government to set up a Special Investigation Team (SIT) to probe illegal NBFCs and chit fund organisations.

Meanwhile, SIT head and Tripura's Inspector General of Police (Law and Order) K.V. Sreejesh told the media on Wednesday that the SIT is now probing 78 cases involving 48 NBFCs and chit fund organisations and had arrested 112 persons.

"We have seized bank accounts and attached properties of most of these organisations. We will soon complete our probe," the IPS officer added.

In 2013, the Tripura government referred 37 cases relating to chit fund companies and NBFCs to the CBI. The central probe agency, however, took up only five cases.

Targeting a top three finish, the Mumbai FC chief coach Santosh Kashyap said the new-look team will confidently overcome the challenges and play an attractive and attacking brand of football in the I-League season kicking off on January 7.

"We want to finish in the top three this season. There are challenges to overcome with new settings. We will concentrate and achieve our objective," said Kashyap on Wednesday.

"You will see attacking and attractive football from Mumbai FC. Six years, the team has played in one style (under former coach Khalid Jamil). The players have to now adapt to my style of play which will be attacking and effective. We will go for wins in all matches," said the former India international at the media conference.

He also said veteran midfielder Steven Dias will captain the squad and the fans will see a more effective dead-ball delivery from the former India player.

"I have given him some tips and you will see how dangerous Steven Dias is in dead-ball situations. We have also introduced GPS system to monitor the players' fitness," said Kashyap.

The club, that finished fifth last year, will open its campaign against Pune's DSK Shivajians in the Maharashtra Derby here on January 8.

"I personally want to win the I-League. I grew up here and wanted to play in Mumbai," said Dias who had played for eight years in this city with the now defunct Mahindra United.

New recruit, goalkeeper Laxmikant Kattimani, said, "the team is jelling well and we are looking forward to the new season." 

The team will train in suburban Vile Parle but was encouraged to use the facilities at the Mumbai Football Arena in Andheri, venue of this season's ISL matches, by Mumbai District Football Association's chairman, Aditya Thackeray.

Meanwhile, the team's deputy VP, Atul Badgamia, said he was not worried that this could end up as the last I-League season.

"I am not apprehensive as I feel the AIFF (All India Football Federation) and FIFA (world body) will support us. I am keeping my fingers crossed," he said.

This was in response to a query about AIFF officials' oft-quoted view that they wanted a united and longer top-level league from next season.

Targeting a top three finish, the Mumbai FC chief coach Santosh Kashyap said the new-look team will confidently overcome the challenges and play an attractive and attacking brand of football in the I-League season kicking off on January 7.

"We want to finish in the top three this season. There are challenges to overcome with new settings. We will concentrate and achieve our objective," said Kashyap on Wednesday.

"You will see attacking and attractive football from Mumbai FC. Six years, the team has played in one style (under former coach Khalid Jamil). The players have to now adapt to my style of play which will be attacking and effective. We will go for wins in all matches," said the former India international at the media conference.

He also said veteran midfielder Steven Dias will captain the squad and the fans will see a more effective dead-ball delivery from the former India player.

"I have given him some tips and you will see how dangerous Steven Dias is in dead-ball situations. We have also introduced GPS system to monitor the players' fitness," said Kashyap.

The club, that finished fifth last year, will open its campaign against Pune's DSK Shivajians in the Maharashtra Derby here on January 8.

"I personally want to win the I-League. I grew up here and wanted to play in Mumbai," said Dias who had played for eight years in this city with the now defunct Mahindra United.

New recruit, goalkeeper Laxmikant Kattimani, said, "the team is jelling well and we are looking forward to the new season." 

The team will train in suburban Vile Parle but was encouraged to use the facilities at the Mumbai Football Arena in Andheri, venue of this season's ISL matches, by Mumbai District Football Association's chairman, Aditya Thackeray.

Meanwhile, the team's deputy VP, Atul Badgamia, said he was not worried that this could end up as the last I-League season.

"I am not apprehensive as I feel the AIFF (All India Football Federation) and FIFA (world body) will support us. I am keeping my fingers crossed," he said.

This was in response to a query about AIFF officials' oft-quoted view that they wanted a united and longer top-level league from next season.

The much awaited World Book Fair, the largest event of its kind in the country, will be held between January 7-15 at Pragati Maidan here.

The 44th edition of the book fair will be inaugurated by Minister of State for Human Resource Development (Higher Education) Mahendra Nath Pandey, organiser National Book Trust said in a statement on Wednesday.

According to the organisers, the nine-day event will promote the rich Indian heritage through music and dance performances and is expected to host 1,500 participants from across India, including over 50 foreign exhibitors.

"More than 2,500 stalls will showcase books and reading material in Hindi, English and other Indian languages for all age groups, on a wide range of subjects and genre," the statement added.

The highlight of the fair will be on January 10 when publishers from India, Germany and France will talk about markets, trends and collaborations in a session and will showcase their book market scenario at the event.

The leading publishers from India and abroad will also showcase the best of their titles at the fair.

The ongoing sharp reduction in lending rates will not be margin dilutive for the banks but rather help them tide over the bad loans pains as it will help the struggling corporates begin to pay back their loans, says a report by leading Wall Street brokerage Jefferies.

"We don't think the 30-90 bps MCLR reduction by banks led by SBI is margin dilutive for the banks. In the shorter term of one to two quarters, we don't think these reductions could be NIM-dilutive, and even if it is, it would be relatively small," Jefferies said in a note on Wednesday.

Explaining its contrarian view, the brokerage said the "implication of the rate cut on corporate profitability and improvement in interest coverage ratio (ICR) can be material for certain corporates given the extent of MCLR cuts and hence the bad loan outlook can turn slightly better for the banks." 

It also argues the fundamental difference between base rate and MCLR is that under the latter, banks have the ability to choose 'interest reset dates' and as a result, an MCLR increase/cut doesn't translate to a higher or lower borrowing cost soon for customer as it happens over a period of time.

Following the Prime Minister's indirect nudge on the New Year's eve, banks led by State Bank, PNB, Union Bank and HDFC have slashed their marginal cost of funds based lending rates between 30 and 90 bps. SBI cut it the maximum of 90 bps.

The report also said since most banks were maintaining a 60-90 bps spreads since the MCLR regime to into being, it was clear that banks would pass on the cheaper deposits benefit to lower lending rates.

Large accretion to Casa deposits after tje noteban and caps on withdrawal have sharply lowered overall cost of funds for banks. SBI, which as collected over Rs 1.65 trillion in Casa deposits, has even cut its base rate by 5 bps.

However, rate cut is ngative for NBFCs, especially for those dependent on wholesale/bond market financing, as they could likely face a squeeze in spreads on incremental volume.

This is more so as post-demonetisation, the generic AAA rated one-year bond yield has come down by only 15 bps, but a 60-90 bps reduction in one-year bank loans rate, can shift the marginal volume from a non-bank to a bank.

"While we believe in this scenario banks will outperform NBFCs, and therefore retain our cautious stance on the banking sector, we remain broadly positive on corporate banks over a medium term perspective given their cross-cycle valuation and outlook," the report said, adding its top picks are ICICI Bank, Axis Bank, HDFC Bank from the private sector portfolio and SBI from the state-run bunch.

As sluggish demand is the biggest risk to banks, it said demand revival is key for corporate and banking sector.

While bank credit to industries contracted to -3.4 per cent in November, credit to services grew 7.1 per cent. But what is important is that as much as 56 per cent of bank loans and 88 per cent of NPAs are with large borrowers.

Grammy-nominated American musician Mike Posner is all set to perform in three cities in India later this month.

Ponser, whose song 'I Took a Pill in Ibiza', is nominated in the Song of the Year category at the Grammys, will perform at Kamani Auditorium in Delhi on January 25, followed by a show next day in Mumbai and Bangalore on January 28.

The 28-year-old singer is known for his songs like 'Cooler than Me', 'Please Don't Go' besides his most popular hit 'I Took a Pill in Ibiza'.

His latest album is 'At Night, Alone'.