FRIDAY www.thestatesman.com 06 APRIL 2018 FIND US ONLINE Scan this with your smartphone twitter.com/TheStatesmanLtd facebook.com/thestatesman1875 Pages 16 |`3|LC KOLKATA | NEW DELHI | SILIGURI | BHUBANESWAR P9 SENSEX 33,596.80 +577.73 WEATHER Generally cloudy sky with very light rain or drizzle in some areas. The maximum and minimum temperatures would be around 38 and 23 degrees Celsius respectively. P10 10,325.15 +196.75 ` vs $ 65.14 P15 P12 GOLD 30,488 -356.00 SILVER 37,827 PNB relief as it gets time to provision for losses PRASHANT MUKHERJEE Max.78% Min. 27% Max: 38.6°C (+5) SUN RISES 06:05 hrs MOON RISES 00.09 hrs Min: 21.4°C (+3) SUN SETS 18:42 hrs MOON SETS 10:10 hrs Jaitley suffering from kidney ailment: Union Finance Minister Arun Jaitley is suffering from a kidney ailment and will be undergoing a kidney transplant this weekend. Sources said Jaitley was taken to Delhi’s AIIMS for a check up. The doctors are attending to him at his residence. His doctors have advised him not to go out in public for fear of infection and he is working from home. Body preserved for ‘pension’: The Kolkata Police has recovered the body of an old woman Bina Majumdar from a freezer and well preserved for about three years using chemicals, suspectedly by her jobless son to cash in on her pension by taking her thumb impression. The bizzare episode was discovered at a house in Behala. The police is questioning the woman’s son and her husband. I n a major relief to public sector Punjab National Bank (PNB), the Reserve Bank of India (RBI) has accepted its request to make provisioning for the losses incurred from the Rs 13,000 crore fraud spread over four quarters. In a written reply to Parliament, Shiv Pratap Shukla, Minister of State for Finance stated that the state-owned PNB is staring at losses worth Rs 14,500 crore for the financial year 2017-18. This comes after the lender informed the stock exchanges and the Central Bureau of Investigation (CBI) that some of its employees had connived with companies owned by Nirav Modi and his uncle Mehul Choksi to issue fraudulent letters of undertaking to borrow funds from foreign branches of other Indian banks. In the past, the Central bank had allowed some banks to spread provisioning over a period of time, sources said. PNB has also agreed to pay the counter-party banks for any loss from the fraud. The decision will provide relief to PNB, which would otherwise have to put a quarter of its net worth at risk. PNB’s profit and overall asset quality are expected to take a hit. SNS & PTI MUMBAI, 5 APRIL PNB CEO Sunil Mehta on Wednesday said the bank would recover its losses from the recent letters of undertaking fraud within 6 mths PNB CEO Sunil Mehta on Wednesday said the bank would recover its losses from the recent letters of undertaking (LoU) fraud within six months. The bank has bad loans of Rs 57,000 crore. The regulator has brought down provisioning for NCLT cases from 50 per cent to 40 per cent, hence, the management expects resolution of some cases in steel sector through the Bankruptcy Code which will in turn provide cushion to the bank. The lender earlier said that it will honour all 352 letters of undertaking and foreign letters of credit worth Rs 6,500 crore maturing with seven banks on or before 31 March. PTI adds: A group of around 17 parties, including the Congress and the TDP today staged a protest , and formed a human chain in the Parliament Complex over various issues such as Salman gets 5 years’ jail in blackbucks killing case PTI JODHPUR, 5 APRIL Salman Khan arrives at a court to hear the verdict in the long-running wildlife poaching case against him in JodhAFP pur on Thursday. housesreligiouspreacherAsaram Bapu, who has been accused of rape. Jail sources said Salman, arguably India's most successful actor, was lodged in barrack number 2, heavily protected and secure. Salman has earlier spent a total of 18 days in the jail in 1998, 2006 and 2007, all for cases of poaching. As the sentence is more than three years, Salman will have to appeal in a higher court for bail. Final arguments in this case were completed in the trial court on March 28, after which Chief Judicial Magistrate Dev Kumar Khatri had reserved his judgment.Today, the court sentenced him to five years in jail and imposed a fine of Rs 10,000, prosecution lawyer Mahipal Bishnoi said. HeldguiltyunderSection9/51 of theWildlife (Protection) Act, he had faced a maximum punishment of six years behind bars. The actor shot and killed the blackbucks, from the antelope family, in Kankani village near Jodhpur on the night of October 1, 1998. the “failure” of the NDA government to run Parliament and grant special category status to Andhra Pradesh. Leaders of the parties assembled near the statue of Mahatma Gandhi and raised slogans against the government over banking scams, rising atrocities against Dalits, sealing of commercial establishments in Delhi, and non-grant of special category status to Andhra Pradesh. Leading the protest was UPA chairperson Sonia Gandhi and Congress president Rahul Gandhi. Leaders of the TMC, Left parties, NCP, DMK, Samajwadi Party, BSP and the TDP, which severed ties with the BJP recently, were present at the protest. “Today 17 Opposition parties and even those who were part of the NDA (till recently), formed a human chain around Parliament. It was against the non-performance of the government and its failure on different issues,” Leader of Opposition in Rajya Sabha Ghulam Nabi Azad said. The protest lasted over half-an-hour. The Opposition leaders alleged that they wanted to raise The Reserve Bank today kept the key interest rate unchanged but cut its inflation forecast on lower food prices, sparking a rally in the stocks and bond markets. While keeping the benchmark repurchase or repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent for the fourth time straight, the six member Monetary Policy Committee headed by RBI Governor Urjit Patel retained the 'neutral' stance. The MPC trimmed its April-September inflation projection to 4.7-5.1 per cent, from its February forecast of 5.1-5.6 per cent. It raised economic growth target to 7.4 per cent for 2018-19 fiscal from 6.6 per cent of last fiscal “with risks evenly balanced”. Five of the six members of MPC voted for the decision, while one sought a hike. “Overall food inflation should remain under check on the assumption of a normal monsoon and effective supply management by the government,” RBIsaid in a statement. Cutting inflation fore- -478.00 BRENT OIL (IN $) 64.73 cast for second-half was cut to 4.4 per cent from 4.54.6 per cent, RBI iterated commitment to keep inflation at 4 per cent in medium-term. It however warned that rising trade protectionism and financial market volatility could derail global recovery. Bonds yields fell after the policy statement, while the rupee gained 18 paise to 64.97 against the US dollar and the benchmark Sensex shot up 577 points. The status quo policy, the fourth in a row since August last year, will be neutral to the EMIs for housing and vehicle loan borrowers, but banks are free to tinker with both deposit and lending rate depending on their asset liability position. This was the first bimonthly monetary policy review of the 2018-19 fiscal which commenced on April 1. The next review will be announced on June 6. The decision of MPC comes against the backdrop of government's assertion that both the fiscal deficit as well as the revenue shortfall in 2017-18 will be lower than the upwardly revised estimates given in the Union P11 Budget. PTI NEW DELHI, 5 APRIL The Supreme Court on Thursday observed that Aadhaar can do little to stop banking frauds and also questioned the Centre for asking the entire population to link their mobile phones with the unique identity card “just to catch a few terrorists”. The apex court also observed that bank officials were “handin-glove” with fraudsters and that scams do not happen because the culprits are unknown. The court made the observations after the Centre argued that Aadhaar would help curb ills like terrorism and banking frauds. It then asked the Centre what will happen, if tomorrow, the authorities such as the UIDAI, by way of an administrative order, asks the citizens to part with their DNA, semen and blood samples as part of their Aadhaar demographics. A five-judge constitution bench headed by Chief Justice Dipak Misra, hearing a clutch of petitions challenging the validity of Aadhaar and its enabling 2016 law, while prima facie disagreeing with the Centre's submissions said Aadhaar was “not the solution” to banking frauds. “There is no doubt about the identity of fraudsters. The bank knows whom it is giving loan and it is the bank officials who are hand- GOLDEN MOMENT WASHINGTON, 5 APRIL Facebook CEO Mark Zuckerberg on Thursday sought another chance for himself to lead the social media giant despite acknowledging mistakes that his company made in sharing its users' information with a third-party. Embroiled in a massive data breach following the Cambridge Analytica scandal, Facebook yesterday said data on about 87 million people mostly in the US may have been improperly shared with London-based political consulting firm Cambridge Analytica. Zuckerberg, who co-founded Facebook in 2004, once again admitted the lapses and asked for another chance to lead the company. “Give me another chance,” he told reporters during a conference call when asked if he is still the best person to lead the company. “This a huge mistake. It's my mistake,” Zuckerberg said, taking the blame for the massive data breach. “Yes. People make mistakes and learn along the way. I'm the first to admit we didn't take a broad enough view of what our responsibilities are...What people should hold us accountable for is learning from the mistakes,” he said. He said he was unaware of the board asking him to step down against the backdrop of the data breach scandal. “Not that I am aware of...Nobody has been fired because of this scandal,” he said when asked if the board has asked him to step down in the wake of the Cambridge Analytica scandal. “I have not, due to the CA situation, yet. We're still working through this. At the end of the day, this is my responsibility. There have been a bunch of questions about that. I started this place, I run it, I'm responsible for what happens here,” he told reporters. “I'm not looking to throw anyone else under the bus for mistakes we made here,” he said. Zuckerberg said the scandal has not much dented into its business. “I don't think there's been any meaningful in-glove with the fraudsters. Aadhaar can do little to stop it,” the bench, which also comprised justices A K Sikri, A M Khanwilkar, D Y Chandrachud and Ashok Bhushan, said. “Banking fraud does not happen because of multiple IDs”, the bench told Attorney General K KVenugopal, representing the Centre, who had submitted that biometrics were safe and could solve problems like “money laundering, bank frauds, income tax evasion and terrorism”. “Aadhaar will not prevent an individual from operating layers of commercial transactions. It would not prevent bank frauds either,” the bench said, adding that it may only help the authorities in finding out non-existent beneficiaries of schemes. Elaborating, the bench said a person in different capacities and through various entities could enter into multi-layered commercial transactions and take loans which are not “illegal per se”. Venugopal then submitted that linking of Aadhaar with mobile phones would help in catching terrorists. Panel formed to frame rules to regulate online news PTI NEW DELHI, 5 APRIL Mirabai Chanu celebrates after setting a new Commonwealth Games record in snatch in women's 48kg Weightlifting at the Commonwealth Games in Gold Coast, Australia, on Thursday. P Gururaja (56kg) clinched a silver in the men's competition. AFP (SEE P16) Zuckerberg takes the blame for massive Fb data breach PTI -0.52 Aadhaar can do little to stop bank frauds: SC to govt Rates intact, RBI cuts inflation projection NEW DELHI, 5 APRIL THUMBNAILS A Jodhpur court on Thursday sentenced Bollywood superstar Salman Khan to five years in prison and sent him to the Jodhpur Central Jail for killing two blackbucks in October 1998. The court acquitted his colleagues Saif Ali Khan, Tabu, Neelam and Sonali Bendre and a local, Dushyant Singh, giving them the “benefit of doubt”, a prosecution lawyer said. Stargazers, media crew and security personnel swarmed the court premises and lined up along the two kilometre route from the court as the 52-year-old was whisked away in a Bolero police jeep to spend a night in jail.This is his fourth stint in the Jodhpur Central Jail, which also TWO OWN-GOALS FROM ROMA HELP BARCA TAKE CHARGE RBI accepts bank’s request to spread provisioning over 4 quarters for `13-cr fraud losses RAINFALL: Nil RELATIVE HUMIDITY TEMPERATURE NIFTY TRUMP DEPLOYS TROOPS ALONG MEXICAN BORDER DIGVIJAY SINGH’S NARMADA YATRA TO END ON 9 APRIL AMBEDKAR’S VISION OF A SECULAR CONSTITUTION impact that we've observed. But, look, it's not good ... It still speaks to people feeling like this was a massive breach of trust and that we have a lot of work to do to repair that,” he said, seeking to downplay the crisis that followed the data breach. Responding to a question, Zuckerberg said it will take years for Facebook to fix the problem. “It will be a multiyear process to combat disinformation,” he said, adding that this will be a “never-ending battle.” “I'm confident we're making progress against these adversaries but they're very sophisticated. We can't expect to fully solve a problem like this,” Zuckerberg said. Zuckerberg, who co-founded the company in 2014, is scheduled to testify before a Congressional committee on data breach next week. “This hearing will be an important opportunity to shed light on critical consumer data privacy issues and help all Americans better understand what happens to their personal information online. We appreciate Mr Zuckerberg's willingness to testify before the committee, and we look forward to him answering our questions,” said committee Chairman Congressman Greg Walden, and the Ranking Member Frank Pallone. ‘5L potentially affected in India’ NEW DELHI, 5 APRIL US-based social media giant Facebook on Thursday admitted that nearly 5.62 lakh people in India were “potentially affected” by its global data breach involving Cambridge Analytica, and asserted that the UK-based firm's use of such data did not have its consent. In response to the Indian government on the data breach scandal, Facebook has informed that “only 335 people” in India were directly affected through the installation of an app and another 562,120 people were “potentially affected” as friends of those users. Facebook has over 20 crore users in India. “Cambridge Analytica's acquisition of Facebook data through the app developed by Dr Aleksandr Kogan and his company Global Science Research Limited (GSR) happened without our authorisation and was an explicit violation of our Platform policies,” a Facebook spokesperson said in a statement. “At no time did Facebook agree to Cambridge Analytica's use of any Facebook user data that may have been collected by this app, including with respect to users located in India,” the spokesperson added. The company said the total number of potentially impacted users (562,455 people) is 0.6 per cent of the global number of potentially AGENCIES affected people. The Information and Broadcasting Ministry has constituted a committee to frame rules to regulate news portals and media websites, according to an official order which came a day after the government withdrew its contentious guidelines on fake news following widespread criticism. According to the order dated 4 April, the 10-member committee includes Secretaries of the Ministries of I & B, Electronics and Information Technology, and Home. It will also have Secretaries of Department of Legal Affairs and Department of Industrial Policy and Promotion as members. The panel will also have representatives of the Press Council of India (PCI), News Broadcasters Association (NBA) and Indian Broadcasters Federation (IBF). The order said the content on private television channels are regulated by the Programme and Advertisement Codes, while the the PCI has its norms to regulate the print media. It said there were no norms or guidelines to regulate the online media websites and news portals. Therefore, it has been decided to constitute a committee to frame and suggest a regulatory framework for online media/news portals including digital broadcasting and entertainment/infotainment sites and news/media aggregators, it added. nIts terms of reference (TOR) include to "delineate the sphere of online information dissemination which needs to be brought under regulation, on the lines applicable to print and electronic media". The panel will also analyse the international scenario. (SEE ALSO PAGE 7)
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