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BusinessPhoto: HT World

Canada hails sale of 60% IDBI Bank stake to Fairfax as major win

Canada’s Minister of International Trade, Maninder Sidhu, praised India’s approval of the strategic sale of a 60.72% stake in IDBI Bank to Toronto-based Fairfax Financial Holdings Ltd (FFHL) as a significant victory for Canadian investors. The deal, valued at about CA$7.9 billion (₹52,878.08 crore or US$5.6 billion), is India’s largest strategic disinvestment and the biggest foreign financial services investment in the country. FFHL gains management control with shares from the government and LIC.

HT World·

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PoliticsPhoto: Deccan Herald

Delhi High Court Allows CJP Protest at Connaught Place on October 16

The Delhi High Court refused to restrain the Cockroach Janta Party (CJP) and its founder Abhijeet Dipke from holding a protest at Connaught Place Central Park on October 16. The court recorded police assurances to regulate the protest. The plea was filed by a vendor concerned about weekend closures affecting traders during the festive season. The court took police assurances on record but did not issue a restraining order.

Deccan Herald··New Delhi

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BusinessPhoto: Economic Times

ITAT Cancels Rs 9.04L Tax Notice on LIC Leave Encashment

Mrs. Moongia retired from LIC on June 30, 2020, receiving Rs 9.04 lakh as leave encashment. She claimed full tax exemption on this amount, unaware that only Rs 3 lakh was exempt for non-government employees then. The Income Tax Department taxed the remaining Rs 6.04 lakh and issued a notice. After a 1277-day delay, ITAT Jaipur accepted her appeal, citing tax consultant negligence and canceled the notice.

Economic Times··Jaipur

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SportsPhoto: TOI Sports

Gavaskar Criticizes Shamar Joseph After Arshdeep Singh Injury

In the fourth T20I in Hyderabad, West Indies defeated India by 24 runs to level the series. Sunil Gavaskar criticized Shamar Joseph after a bouncer hit Indian bowler Arshdeep Singh on the shoulder. Despite the pain, Arshdeep continued bowling, raising concerns about his injury. Gavaskar also urged Indian batters to take more responsibility during the chase.

TOI Sports··Hyderabad

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WorldPhoto: News18Hi Entertainment

Actor Imran Khan to Challenge India Exit Notice in Bombay High Court

Actor Imran Khan faces ongoing troubles as the Foreigners Regional Registration Office (FRRO) issued him a notice to leave India by October 28. Khan plans to challenge this notice in the Bombay High Court. The issue arose after he participated in a protest in Mumbai on October 10, drawing public and legal attention.

News18Hi Entertainment··Mumbai

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BusinessPhoto: ET Markets

Rupee Gains Fourth Day as Dollar, Oil Prices Fall

The Indian rupee rose 0.1% against the dollar, marking its fourth consecutive day of gains. This rise was driven by falling oil prices and a rally in Indian stocks, which outperformed regional markets. The dollar index declined from an 18-month high due to lower Treasury yields and speculation over Federal Reserve rate hikes, supporting the rupee's strength.

ET Markets·

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