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Friday evening news brief, December 22

Dec 22, 2017
Friday evening brief Dec 22 2017
Good evening!
Here’s everything that transpired during the course of the day…
Vijay Rupani will continue as the Gujarat chief minister and Nitin Patel will retain the post of deputy CM. Rupani was unanimously selected as the BJP legislature party leader at a meeting of all the newly-elected BJP MLAs convened by state unit president Jitu Vaghani on Friday. The announcement was made by senior BJP leader and union minister Arun Jaitley. Rupani, however, would serve as the caretaker chief minister till the formation of a new government. Read.
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Banks lost Rs 16,789 crore on account of frauds in the last fiscal, the finance ministry said in the Lok Sabha. The Reserve Bank has informed that as per the fraud monitoring reports submitted by the scheduled commercial banks and select financial institutions, “the amount lost on account of frauds during 2016-17 was Rs 16,789 crore”, said Minister of State for Finance Shiv Pratap Shukla in a written reply.
RBI has taken notice of media reports about the closure of some public sector banks and dismissed the same. RBI clarified that the central bank’s measures are “not intended to constrain normal operations of the banks for the general public. RBI’s clarification came a day after media reports emerged about the shutting down of PSU banks in the wake of the central bank initiating ‘prompt corrective action’ against Bank of India and United Bank of India on December 20.
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The Supreme Court refused to grant interim stay on Karnataka HC’s verdict on pictorial warning on tobacco products. The high court had on December 15 struck down the 2014 amendment rules that mandated the pictorial health warning to cover 85 per cent of the tobacco product packaging space, holding that they violated the constitutional norms. Several petitions, including the one filed by NGO Health for Millions Trust, have challenged the high court verdict.
Bombay HC today rejected the Maharashtra governor’s sanction to prosecute Ashok Chavan in the Adarsh scam case. This could well lead to an acquittal for Chavan, who had to step down on account of his alleged involvement in the scam. This gives a major boost to the Congress in graft-related allegations. Just yesterday, those accused in the 2G spectrum case were acquitted by a CBI court.
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