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Major News and Events of 05 May 2013

What Happened on 05 May 2013

Congress to decide on Pawan Kumar Bansal, nephew after Karnataka polls

As per sources, Congress may take action against Railways Minister Pawan Kumar Bansal considering the fact that his nephew was arrested for allegedly taking a bribe to procure coveted position in the Railway Board. A decision about this may be taken after the Karnataka polls.

Bansal met the Prime Minister and even apprised the Core Group about his position specifying that he had no business links with his nephew nor did he get influenced by him in any decision-making. Vijay Singla, his nephew was to fix a position for Mahesh Kumar in the railway board and Kumar wanted the job so badly that he was ready to pay Rs. 10 crore for it. He would have been in hold of a position where he would have given clearance to electrical contracts worth hundreds of crores.

CBI has also arrested another middleman named Rahul Yadav on Saturday. It is being said that Bansal’s nephew had a meteoric rise in 15 years, similar to Bansal's in political circles.

This issue is going to hamper Bansal’s clean image and also is a bad image for UPA.

FIIs pump in Rs 2,600 crore in May

Overseas investors have infused as much as Rs 2,600 crore (483 million USD) in the Indian stock market during the first two trading sessions of the month though political and economic worries continued.The total foreign investments in the country's equity market is now Rs 63,643 crore (11.8 billion USD) since the year started.

During the period of May 2-3, foreign institutional investors (FIIs) were gross buyers of shares worth Rs 8,475 crore, while the equities sold amounted  to Rs 5,869 crore, that resulted in a net inflow of Rs 2,606 crore (USD 483 million), as per the data available with market regulator SEBI.

FIIs have also injected Rs 2,929 crore (USD 542 million) in the debt market during the month which makes the total investment to Rs 21,007 crore (USD 39 billion) in the segment in 2013.

Till May 3, the number of registered FIIs in the country was at 1,769 and total number of sub-accounts were at 6,383 during the same period.

Over 65 percent turnout in Karnataka polls

There was 65 percent turnout of the 43.6 million voters to cast their ballots on Sunday in the 14th Karnataka assembly election.

Bangalore, again witnessed low polling, with only about 55 percent of the seven million voters casting their votes.

The polling was by and large peaceful except some minor incidents in few places over missing names or malfunctioning electronic voting machines or argument among supporters of various contestants.

In few of the villages in north Karnataka, the people stayed away from voting protesting against lack of basic facilities like drinking water.

The votes will be counted on May 8. The polling started one hour earlier at 7am and ended at 6pm. 223 assembly constituencies went for poll.

Election from the Periyapatna constituency of Mysore district has been revoked as the ruling Bharatiya Janata Party (BJP) candidate Sannamoge Gowda died on April 29. Polling there would now happen on May 28.

Mumbai Indians defeat Chennai Super Kings by 60 runs

Mumbai Indians defeated Chennai Super Kings by 60 runs in an IPL match at the Wankhede Stadium in Mumbai on Sunday.

Mitchell Johnson and Pragyan Ojha grabbed three wickets each and the Super Kings were bowled out for their lowest ever total of 79.

Rohit Sharma's 39 off 30 balls helped Mumbai Indians to compile a fighting total of 139 for five.

Mumbai Indians is now in the top four in the table. It went ahead Rajasthan Royals and Sunrisers Hyderabad into third place with 14 points.

The Super Kings lost their first match in seven games but are still at the top of the table with 18 points.

Ranbir Kapoor detained and fined at the airport

Bollywood actor Ranbir Kapoor was detained for 40 minutes and had to pay a fine of Rs 60,000 on undeclared branded personal goods at the Mumbai International airport.

He was found walking through a passage, which only was to be used by officials and airport staff. He was then stopped and his luggage was checked where it was found that he had undelcared branded goods such as perfumes, clothes and footwear worth about one lakh rupees. 

Passengers who carry goods or items above the permissible limits need to go through the Red channel after paying the customs duty.

It was also said that the actor seemed to be not aware of the customs rules and regulations.

SEBI thinking of checking manipulation through BlackBerry Messenger, WhatsApp

Due to large usage of BlackBerry Messenger (BBM) and WhatsApp by manipulators to send information about their target stocks, market watchdog SEBI is thinking over measures it will take to check risks which may emerge with these new-age mobile applications.

SEBI has got software tools in place along with IT experts to supervise discussions on social networking sites like Twitter and Facebook. WhatsApp and BBM are though proving difficult for SEBI as they are facing many problems in tracking the source and how the market-sensitive information spreads.

These apps use the Internet servers of smartphones, but the transmission of messages ensue in a highly encoded manner and it is tough for a third party to decode them. Earlier, the market manipulators used blogs and social media platforms like Facebook and Twitter which can now be tracked.

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