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Get the appGetFairfax Financial is set to buy a majority stake in India's IDBI Bank in a deal valued at ₹52,878 crore, marking the largest-ever foreign direct investment in India's financial sector. The Cabinet has approved the sale, which is part of the Modi government's strategic disinvestment plan, surpassing the government's selloff target with this ₹53,000 crore transaction involving LIC.
WSJ·
SciencePhoto: MintThe India Meteorological Department (IMD) predicts heavy rainfall in South India until October 20 due to the Northeast Monsoon. Kerala, Tamil Nadu, Puducherry, and Karaikal may experience isolated very heavy rainfall on October 15. Other regions in South India will see heavy rain between October 15-20. Additionally, hailstorm activity is expected in parts of Delhi NCR, Haryana, Chandigarh, and Uttarakhand.
Mint··Delhi
PoliticsPhoto: News18A Delhi court issued fresh summons to YouTuber Dhruv Rathee in a 2018 criminal defamation case filed by Vikas Pandey over the video ‘BJP IT Cell Part 2’. The summons was served at Rathee’s Gurugram residence, where he is staying during protests against alleged electoral fraud. The next hearing is set for October 17, 2023, by Judicial Magistrate Rahul Jain at Saket District Court.
News18··Gurugram
PoliticsPhoto: Hindustan TimesA new joint platform called People Against SIR, comprising farmers, workers, women, and youth, demanded outright rejection of the Special Intensive Revision (SIR) of electoral rolls. The demand came a day before a five-judge Independent Commission, chaired by Justice Madan Lokur, began closed-door hearings on voter grievances in the capital. The platform plans to submit public audit findings to the commission.
Hindustan Times··New Delhi
PoliticsPhoto: Economic TimesPunjab will observe a bandh on October 15 from 6 am to 5 pm following the killing of anti-drug activist Parvinder Singh Jhota in Mansa. The bandh affects bank operations, school closures, bus and train services, markets, and emergency services across the state. Authorities have issued updates on the status of these services during the bandh.
Economic Times··Mansa
PoliticsPhoto: News18Delhi Police registered an FIR against an independent journalist following a complaint by ACP Vivek Bhagat. Bhagat alleged caste-based humiliation, intimidation, obstruction of duty, and defamation during a protest near Jantar Mantar on October 3. The FIR states the journalist made derogatory remarks about Bhagat's Meghwal caste and questioned his ACP appointment, witnessed by Bhagat and Constable Ravi Dahiya.
News18··New Delhi
WSJ·
Fairfax Financial is set to buy a majority stake in India's IDBI Bank in a deal valued at ₹52,878 crore, marking the largest-ever foreign direct investment in India's financial sector. The Cabinet has approved the sale, which is part of the Modi government's strategic disinvestment plan, surpassing the government's selloff target with this ₹53,000 crore transaction involving LIC.
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