Evening Bulletin March 13: Bloodbath on Dalal Street, SBI gives electoral bonds data

SBI affidavit on electoral bonds: The State Bank of India on Wednesday filed a compliance affidavit in the electoral bonds case, day after it sent all details of electoral bonds to the Election Commission as directed by the Supreme Court. In the affidavit, the public lender has shared details of electoral bonds purchased and redeemed till February 15, 2024. According to the data provided by SBI, a total of 3,346 electoral bonds were purchased between April 1, 2019 to April 11 the same year. A total of 1,609 bonds were redeemed, the data showed. From April 12, 2019 to February 15, a total of 18,871 electoral bonds were purchased and 20,421 bonds were redeemed, the SBI data added. The electoral bonds data was handed over in a pen drive with two password protected PDF files. Passwords were given in a separate envelope. The SBI had submitted details of electoral bonds to the Election Commission, day after the Supreme Court rejected its plea seeking extension till June 30. “In the last 26 days, what steps have you taken? Your application is silent on that,” a five-judge top court bench headed by Chief Justice DY Chandrachud had asked the SBI. Read story.

Rameshwaram cafe blast: The National Investigation Agency (NIA) has denied media reports that claimed that the probe agency has arrested a suspect in the Bengaluru Rameshwaram Cafe IED blast case. Earlier, some TV reports and news agencies, citing sources, claimed that the NIA, which is probing the Rameshwaram Cafe blast case, detained a man from Ballari district in Karnataka. The man is said to have “some resemblance” with the prime suspect, news agency PTI, citing the unnamed sources, reported. Another news agency ANI, which also cited NIA sources, reported that the suspect, identified as Shabbir, was taken into custody from Bellary district. “He is still being questioned in the case. It is yet to be ascertained whether he is the same man caught on CCTV camera,” it quoted the sources as saying. The development comes two days after Karnataka home minister G Parameshwara said sleuths investigating into the March 1 blast at the popular eatery have “in a way” identified the suspect, and efforts are on to nab him. He said the investigators are verifying the suspect’s identity and are “getting closer to him”. Investigation into the blast, caused by an Improvised Explosive Device (IED), at the quick-service eatery in Brookefield area in the information technology corridor in east Bengaluru that left 10 people injured, is being carried by the NIA, which is being assisted by the Central Crime Branch (CCB) of the Bengaluru Police. Read story.

Mamata Banerjee disowns brother: Mamata Banerjee said she and her family have cut all ties with Babun Banerjee, her brother, who revolted against the party’s candidate Prasun Banerjee from Howrah Lok Sabha seat and said if the need arises, then he would contest as an Independent from the seat. Babun Banerjee is Mamata Banerjee’s younger brother who on Wednesday expressed unhappiness over the party again giving a ticket to Prasun Banerjee from Howrah. “I am not happy with the selection of the candidate from Howrah Lok Sabha seat. Prasun Banerjee is not the right choice. There were many capable candidates who were overlooked,” he said in New Delhi, alluding to the insult Prasun Banerjee hurled on him once. “I know Didi (Mamata Banerjee) would not agree with me. But if needed, I will contest as independent from Howrah Lok Sabha seat,” Babun Banerjee said. “As long Mamata di is there, I would never quit the party and neither would I join any other political party. Yes as I am connected to sports, I know many BJP leaders, who too are connected with sports,” Mamata’s brother said. Mamata Banerjee reacted to her brother’s statement and said she would not indulge in any nepotism. “Some people become greedy. I don’t consider him as a family member. We will sever all ties with him. Please don’t use my name with him. Don’t identify him as my brother. We will stick to the candidate whom the party selected,” Mamata Banerjee said. Read story.

Bloodbath on D-street: Sensex fell over 700 points and reached below the 73,000-level while Nifty dropped over 1% today (March 13). It was the worst single-day fall for smallcap index since December 2022 which fell 5% while midcaps lost 3%. Microcaps and SME stock indices dropped around 5% each. With this, market capitalisation of all BSE-listed stocks reduced by ₹12 lakh crore and is currently at ₹374 lakh crore. The crash defies global trade setup as the S&P500 had hit a record high overnight and FIIs have also bought Indian stocks and invested $3 billion so far in the month. Sebi stress test could be a major reason for the crash as Sebi chairperson Madhabi Puri Buch put out a froth warning on smallcaps and midcaps. After the market regulator asked mutual funds last month to put in place a system to protect interest of smallcap and midcap investors, Madhabi Puri Buch said, “There are pockets of froth in the market. Some people call it a bubble, some may call it froth. It may not be appropriate to allow that froth to keep building.” Sebi chief also warned that valuation parameters are off the charts and not backed by fundamentals leading to “irrational exuberance”. Read story.

Congress’s ‘Nari Nyay Guarantee’: In a bid to woo women voters, the Congress party on Wednesday announced its ambitious ‘Nari Nyay Guarantee’ under which it has promised financial assistance of ₹1 lakh to women from poor families every year. Under the ‘Nari Nyay Guarantee’, Congress has outlined five key announcements – ‘Mahalaxmi’, ‘Aadhi Aabadi Poora Haq’, ‘Shakti Ka Sammaan’, ‘Adhikar Maitri’, and ‘Savitribai Phule Hostel’. “Aadhi Aabadi Poora Haq – under this women will have rights over half of the new recruitments at the central government level,” Congress president Mallikarjun Kharge said in a video message. “Third, Shakti Ka Sammaan – under this the central government’s contribution to the monthly income of Anganwadi, ASHA and midday meal workers will be doubled,” he added. To empower women with knowledge and awareness of their rights, Congress plans to appoint a paralegal professional in every panchayat, tasked with educating and assisting women in navigating legal frameworks effectively, Kharge said. Read story.