Monday, February, 17,2025

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Jairam Ramesh 'blames' the govt for the decline of LIC's market capitalisation

New Delhi: Congress general secretary in charge of communications Jairam Ramesh on Wednesday blamed the government for the whopping fall of Life Corporation of India (LIC)'s market capitalisation.
In a tweet posted on Wednesday, he said, "Exactly a year ago today, LIC was listed in the stock market. Its market capitalisation then stood at Rs 5.48 lakh crore. Today, this is down to Rs 3.59 lakh crore--a fall of a whopping 35 per cent!" He added, "There is only one reason for this steep fall -- Modani. In the process, lakhs and lakhs of policyholders have taken a serious hit."
In a run-up to this tweet, he also posted a long tweet about the Supreme Court granting a three-month extension after SEBI asked for a six-month extension for the probe into Hindenburg report.
In a long tweet, he said, "SEBI asked for a 6-month extension saying a complete review will take 15 months. Supreme Court has granted a 3-month extension. Let it be said again and again and again. The SC-supervised investigation is limited to violations of securities laws."
He went at length in the particular tweet that: "Only a JPC (joint parliament committee) can unravel the whole truth about the Modani Scam, the nature and extent of the unprecedented quid pro quo:
1. The subversion of every branch of the government, especially India's investigative and regulatory agencies.
2. The yoking of our foreign policy to Modani's financial interests.
3. Ensnaring of LIC, SBI (State Bank of India), EPFO (Employees' Provident Fund Organisation), and compromising interests of the shareholders and public money.
4. The liberal inflow of unaccounted funds into India from offshore shell companies tied to the Adanis.
5. The change of rules and policies to favour Adani's domestic acquisitions."
He also added in the end, "Modani Scam is a PPP (public-private partnership) with a twist, a true political-private partnership that only the Parliament's JPC can fully unravel." (ANI)

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Daily Astro

17-02-2025

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Aries

Today brings opportunities for growth, but you'll need to stay focused. Trust your instincts to navigate challenges.

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Pisces

Your intuition will guide you. Trust your feelings and explore creative outlets for peace of mind.

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Aquarius

Innovation is your theme today. Explore unconventional ideas to solve lingering problems.

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Capricorn

Hard work pays off today. Your dedication and discipline will lead to well-deserved recognition.

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Sagittarius

Adventure is calling! Embrace new opportunities, but keep a balanced approach to risks.

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Scorpio

Your determination will be unmatched. Dive deep into tasks, but don't forget to take breaks to recharge.

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Libra

Harmony in relationships is your priority. Compromise and understanding will strengthen your bonds.

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Virgo

Focus on organization and details. A well-planned day will lead to productive results and personal satisfaction.

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Leo

Leadership will come naturally. Take charge of situations but remain humble for the best outcomes.

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Cancer

Emotional balance is key today. Spend quality time with loved ones to find comfort and clarity.

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Gemini

Today is perfect for networking and sharing ideas. Your adaptability will help you tackle unexpected changes with ease.

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Taurus

Patience will be your strength today. Financial matters might need attention, so think twice before making big decisions.

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17-02-2025