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FSB Review Finds India Lacks Emergency Bank Rescue Fund

The Financial Stability Board (FSB) reviewed 19 countries' banking systems in 2023 and found India, along with Argentina, failed to meet international standards for establishing a public backstop fund to provide immediate liquidity to failing systemic banks. Most countries lack reliable emergency funding mechanisms to resolve troubled banks without taxpayer-funded nationalization, highlighting significant gaps in crisis management frameworks globally.

Amar Business·

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Politics

INDIA bloc MPs meet President Murmu, submit 4-point memo on CEC resignation

A delegation of INDIA bloc leaders, including Rahul Gandhi and Mamata Banerjee, met President Droupadi Murmu to submit a four-point memorandum demanding the resignation of Chief Election Commissioner Gyanesh Kumar. The memo also called for ending the Special Intensive Revision of electoral rolls, reintroducing ballot papers, and reviewing elections held in the past two years. The delegation raised concerns over alleged vote theft and Election Commission irregularities.

Hindustan Times·

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World

Hurricane Simon Rapidly Intensifies, Threatens Southwestern Mexico

Hurricane Simon is rapidly intensifying and expected to reach Category 4 strength this weekend. The storm threatens popular tourist areas in southwestern Mexico with heavy rainfall, potentially causing flooding and mudslides. Rainfall totals of 18 to 24 inches are forecasted. A hurricane warning is in effect from Punta San Telmo to Punta Mita, urging residents to stay alert.

TOI World·

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Politics

India Condemns Anti-India Activities Amid Khalistan Referendum Reports in Canada

India strongly condemned anti-India activities following reports that the pro-Khalistan group Sikhs For Justice plans to hold a 'Khalistan referendum' in Edmonton, Canada, on October 18. MEA spokesperson Randhir Jaiswal addressed the issue during a media briefing, emphasizing India's opposition to such activities. The event coincides with Alberta's October 19 vote on its future within Canada.

Firstpost World··Edmonton

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Entertainment

Mehul Kumar Recalls Working with Nana Patekar and Amitabh Bachchan

Filmmaker Mehul Kumar shared memories of working with Nana Patekar and Amitabh Bachchan on successful films like 'Tiranga' and 'Krantiveer'. He highlighted their strong working relationship and a family-like bond with Patekar, who often visited his home. Kumar also revealed plans for a sequel, 'Krantiveer 2', with Patekar agreeing to participate.

TOI Entertainment·

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Politics

Pakistan Confirms Troops in Saudi Arabia for Defense Only

Pakistan has a substantial military presence in Saudi Arabia, primarily to defend the kingdom, according to the Pakistani Foreign Ministry. Spokesman Sajjad Haider Khan stated that Pakistani forces in Riyadh will not launch attacks against Yemen’s Iran-backed Houthis. Their role is strictly defensive, protecting Saudi territory without crossing borders for offensive operations. The deployment follows a defense agreement involving Pakistan, Saudi Arabia, and Turkey.

News18 World··Riyadh

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