Citizens Financial News

More Chinese cities will give away digital yuan tokens and discount vouchers this month, as the People’s Bank of China (PBoC) looks to spur CBDC adoption.

AI in Indian languages with launches lined up in the coming months, but experts said it may take 3-5 years for India to have its own ChatGPT equivalent. Gurgaon-headquartered startup Soket Labs is eyeing the release of its foundation multilingual large language model (LLM) ‘Pragna’ by Q2 next year, founder and CEO Abhishek Upperwal told ET. A 7 billion parameter version of Pragna, trained on India’s 23 scheduled languages and English, will be released open source, followed by a 30 billion parameter model a few months thereafter, he said.

Supreme Court on Thursday asked the Centre to furnish the number of individuals who have been conferred citizenship under Section 6A of the Citizenship Act and details of administrative steps taken to deal with illegal immigration into the country, particularly into northeastern states. A five-judge constitution bench headed by Chief Justice of India (CJI) DY Chandrachud also directed the government to submit the estimated inflow of illegal immigrants into India, including, but not confined to Assam, after March 25, 1971. Under Section 6A — a special provision inserted into the Citizenship Act, 1955, as part of the Assam Accord in 1985 — people who migrated to Assam between January 1, 1966, and March 25, 1971, were allowed to register themselves as citizens. The Supreme Court also demanded to know the number of foreigners detected under the orders of foreigners' tribunals between January 1, 1966, and March 25, 1971, during the resumed hearing of a clutch of petitions challenging the constitutionality of Section 6A. It also summoned information «in respect of persons who are alleged to have entered India after March 25, 1971, (a) the total number of foreigners' tribunals set up by the central government, (b) the total number of cases disposed of, © the number of cases pending as on date, (d) the average time taken for disposal of cases, and (e) the number of cases pending before the Guwahati High Court on such issues». The bench asked the Centre to explain as to why Assam was «singled out» for action against illegal migration, especially when West Bengal shares a much larger border with Bangladesh. «What is the government doing now to ensure an impermeable border?» the bench asked solicitor general Tushar Mehta,

Khalistani extremist on Indian Parliament. MEA spokesperson Arindam Bagchi said here on Thursday that India has raised with both the US and Canada the issue of threats by a Khalistani extremist on Indian Parliament. Khalistani terrorist Gurpatwant Singh Pannun has released a video in which he said he would attack the Indian Parliament on or before December 13. Notably, December 13 will mark the 22nd anniversary of the Parliament attack by terrorists in 2001.

Binance has withdrawn an application for an Abu Dhabi licence, the latest sign that the giant crypto exchange is reassessing its global structure as regulatory pressures mount. The Binance unit, called BV Investment Management, pulled the application with Abu Dhabi's financial regulator, a spokesperson for Binance said on Thursday.

Hong Kong, a city whose blazing night skyline encircles a mystical harbour, was once the defining metaphor of a bustling Asian metropolis. Those images became visual shorthand for the rise of Asia and even the ‘Chinese Century.’ Now, all is change. For the past few months, the Hong Kong government has felt compelled to launch a ‘Night Vibes’ campaign to get more of the local population out at night.

Rajnath Singh appealed to the people to wholeheartedly donate to the Armed Forces Flag Day (AFFD) Fund and become a part of the government's endeavour to ensure the welfare of the 'Veer Naris', ex-servicemen and their families, said a press release by the Ministry of Defence on Thursday. In a message on AFFD, which is celebrated on December 7, Rajnath Singh termed it the moral responsibility of every citizen to contribute to the efforts being made by the Ministry of Defence towards the care, assistance, rehabilitation and treatment of veterans, war widows and their dependents through a number of welfare schemes. «It is our collective duty to ensure that they get due recognition from all of us,» he said. The Defence Minister emphasised that the soldiers safeguard the borders with discipline, dedication and patriotism, besides making a valuable contribution to relief and rescue operations during natural and man-made disasters as well as peacekeeping missions across the globe, said the official statement by the Ministry of Defence. Rajnath Singh also paid tribute to the brave soldiers who made the supreme sacrifice in the service of the motherland, with many becoming physically disabled to protect the unity, integrity and sovereignty of the nation. He exhorted the people to ensure their contribution to the AFFD Fund and inspire others to join this noble cause. On the occasion, Minister of State in the Ministry of Defence, Ajay Bhatt, also extended his best wishes to the armed forces personnel, ex-servicemen and their families. He stated that the AFFD provides an opportunity for the people to express gratitude to the gallant soldiers who are always ready to protect the country.

Israel and the occupied West Bank this week to expedite humanitarian aid to Gaza, aiming to discuss direct aid delivery by sea during talks with Israeli and Palestinian leaders, CNN reported on Thursday. Shapps emphasised the search for the quickest and most direct routes, including options by land, sea, and air. Additionally, four Royal Air Force flights carrying over 74 metric tons of aid for Palestinians have landed in Egypt.

State Disaster Relief Fund (SDRF) of Rs 493.60 crore to Andhra Pradesh and Rs 450 crore to Tamil Nadu, the two states which bore the impact of the cyclonic storm Michaung. Union Home Minister Amit Shah on Thursday in a post on 'X' said, «severe cyclonic storm Michaung has affected Tamil Nadu and Andhra Pradesh. Though the extent of damage is varied, many areas of these states are inundated, thus affecting standing crops.» «To help the state governments with the management of relief necessitated by the cyclonic storm, PM @narendramodi Ji directed the Ministry of Home Affairs (MHA) to release in advance the central share of the 2nd instalment of SDRF of Rs 493.60 to Andhra Pradesh and Rs 450 crore to Tamil Nadu,» Shah posted. The Minister also mentioned that the centre had already released the first instalment of the same amount to both states.

Effective December 05, 2023, Federal Bank has updated its deposit interest rates. The new rate for 500-day deposits stands at 7.50 per cent for both resident and non-resident deposits. 

The city of Lugano, Switzerland announced on Wednesday that it is ready to start accepting tax payments in cryptocurrency – including Tether (USDT) and Bitcoin (BTC).

Suella Braverman has warned Prime Minister Rishi Sunak that the Conservative Party under his leadership faces “electoral oblivion". Braverman coupled her warning statement by saying, PM Rishi Sunak would need to amp up his crackdown on ‘illegal immigration’ to rectify the situation ahead of a predicted UK elections in 2024. Braverman, a Goan-origin British citizen and former cabinet minister, said migrant numbers were "putting unsustainable pressure on public finances and public services, undermining community cohesion, and jeopardising national security and public safety".

Tengnoupal district of Manipur on Monday was performed late at night on Tuesday. Normal life was affected in Manipur valley following the bandh called in protest against the killing. Family members of the 13 victims expressed suspicion of torture in custody and cold-blooded execution and demanded the government for swift investigation to bring all those involved in the crime to justice. The 13 bodies were brought to Imphal around Monday midnight and postmortem examinations were conducted on Tuesday, after which family members claimed the bodies and took them to Andro Torongthel in a large procession along Ayangpalli Road and passed through Kongba Singjamei Road, Singjamei Keithel, Thoubal and Yairipok. A large number of the public participated in the procession. People also gathered in large numbers along the route and offered floral tributes to the 13 victims according to their heroes' respect. The family members claimed that there were several bruises on his body suggesting torture before being killed.

Private sector lender ICICI Bank has revised the Fixed Deposit (FD) rates for single deposit of ₹2 crore and above but less than ₹5 crore for general public and senior citizens. The ICICI Bank FD Rates are effective from 6 December 2023, the bank website said.

Also read: Mint Primer: When the tail wags the dog: Futures & options Retail investors currently have over a one-fourth share in turnover in equity derivatives—with nearly 35% in index options, followed by 31% each in index futures and stock options. But proprietary traders (brokers trading with their own money rather than clients’) remain the biggest investors, and their share has been consistently rising.

Armed Forces Flag Day, a time when we unite to honor their sacrifices and contribute to the welfare of those who protect us. The Armed Forces Day is celebrated on December 7 every year. Armed Forces Flag Day holds historical significance dating back to August 28, 1949, when the Ministry of Defence proclaimed it as a day of remembrance and fundraising.

Further, the bank has announced a new slab offering 7.75% annual interest on deposits over Rs 5 crore. This will fetch more returns to institutional customers and HNIs, stated the press release. Up to 9% FD interest rate: Which bank offers highest fixed deposit rate for 2-3 year tenure Unity Bank now pays 6.00% per annum interest on deposits up to Rs. 1 lakh and 7.00% p.a. interest on balances between Rs. 1 lakh and Rs. 5 crore. Interest is paid each month.

Bollywood star Aamir Khan, who was recently stranded at Karapakkam, Chennai due to the devastating floods and torrential rain was rescued along with Tamil star Vishnu Vishal and badminton champion Jwala Gutta by the fire and rescue services personnel on December 5. Taking to X (formerly Twitter) on Tuesday, Tamil Nadu industries minister TRB Rajaa praised the ‘3 Idiots’ star profusely for being patient and cooperating with the rescue team rather than attempting to pull strings and get saved first. “Astounding that he didn't try to pull any strings to be rescued! Awesome to see him being so grounded and WAITING HIS TURN to be rescued just like any of our fellow citizens. Lessons for those who try to pull strings and drop names!” reads his post.

The presence of U.S. military bases on the Japanese island of Okinawa, regularly used by Canadian Armed Forces members, is coming under criticism from locals who are Indigenous to those lands.

Another day's holiday was declared for schools and colleges in Chennai on December 7. The cyclone-triggered heavy rainfall had led to inundation in localities including Velachery and Tambaram. On Wednesday too, people were seen leaving their homes in the areas surrounded with water to safer zones, carrying their children and wading through the stagnant water.

Rajasthan Bandh today: Markets shut, protests erupt over Karni Sena chief Sukhdev Singh Gogamedi's murder In the video, Acharya told police officials to shut all non-veg stalls on the streets. Speaking to an officer, Acharya on a phone call said, “All the non-veg stalls on the streets should vanish with immediate effect. I will take a report from you in the evening.