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Hans India
3 days ago
- General
- Hans India
MyVoice: Views of our readers 8th Aug 2025
High on handlooms The handloom sector played a vital role in India's freedom movement. The Swadeshi Movement, launched on August 7, 1905, championed indigenous industries, especially handlooms, as a form of economic resistance to colonial rule. In honor of this legacy, August 7 was declared National Handloom Day in 2015. India's handloom sector is known for its wide range of fabrics, including cotton, khadi, jute, linen, and rare fibers like Himalayan nettle. It also produces distinctive silk varieties like Tusar, Mashruf, Mulberry, Eri, Muga and Ahimsa, along with woolen weaves like Pashmina, Shantosh and Cashmere. Every region in India has developed its unique handloom style. National Handloom Day is a heartfelt celebration of India's weaving traditions and the people who keep them alive. The government also runs several other significant initiatives to promote the handloom industry, like marketing assistance, certification of handloom products, skill upgradation, etc. Jayanthy Subramaniam, Mumbai Remembering Rabindranath Tagore Rich tributes are due to Nobel Laureate Rabindranath Tagore on his 84th death anniversary, the legendary poet, author and philosopher for his timeless contributions to India's cultural and intellectual heritage who penned India's national anthem. His progressive views and contributions to various arts continue to inspire millions. On his death anniversary, we honour the poet whose ideas still shape our thoughts and dreams. Rabindranath Tagore, born on 7 May 1861, passed away on 7 August 1941, at the age of 80 due to complications from uraemia and a blocked urinary bladder. Fondly remembered as the 'Bard of Bengal,' he remains a towering figure in Indian literature, music, and 1913, Tagore became the first non-European to be awarded the Nobel Prize in Literature for his collection 'Gitanjali', which introduced Indian spiritual and poetic thought to the Western world. Bhagwan Thadani, Mumbai Enigmatic judgements Of late, judgements from the courts of law are seen, acquitting all the accused in a few murder cases, thereby throwing the public at large into a quandary about the nature of the crimes themselves. Whether they took place at all and if at all it did, are they so bewildered as to fail to find out whodunit? Seshagiri Row Karry, Hyderabad People have trust deficit on Congress Senior Congress leader Rahul Gandhi claimed that a Congress investigation found massive voter fraud in the elections in Karnataka Lok Sabha segment and Maharashtra assembly elections where more voters were added in five months than in five years. He had alleged votes theft. He had furnished party's expectations and general allegations like voters name in multiple places, no voters in the address etc., Did such things not happen in Telengana, Karnataka, Kerala, West Bengal and Punjab state assembly elections where their alliance won the state elections. When Congress won 100 Lok Sabha seats there were no such allegations. Frustration of defeat in the forthcoming state assembly elections and 2029 general elections baseless allegations are levelled against the constitutional body. Congress has lost faith of the people by the hallow rheotic speeches of its leaders. It should work hard to regain the lost image. It should speaking precisely with proper proof. Sravana Ramachandran, Chennai Ecological imbalance calamitous Every time natural calamities occur in hilly regions with naturally flowing rivers, nature is sending a warning signal to those responsible for safeguarding it. In the name of providing easy access to certain places of worship—especially those where the deity is believed to have manifested on its own, known as 'Swayambhu'—we are tampering with fragile ecosystems. The government must understand that some places of worship, created by humans centuries ago, are located in areas where infrastructure like roads is feasible. In contrast, shrines believed to have emerged on their own are often found in remote, difficult terrain, meant to be reached only by those who can endure the hardships of the journey. Not every divine abode is meant to be made easily accessible. There must be a balance between human desire and nature's sanctity. Sadly present for reasons well known are turning pilgrimage as tourism and they're facing consequence. N Nagarajan, Hyderabad
Time of India
21-05-2025
- Business
- Time of India
EOW arrests woman, daughter from Kolkata for Rs 123 crore chit fund scam
Bhubaneswar: The economic offences wing (EOW) of the state crime branch arrested a woman and her daughter from Kolkata on Wednesday for their alleged involvement in a chit fund scam that duped about 34,000 investors from various Indian states and Bangladesh of around Rs 123 crore. Dwipika Bhanjo (53) and Tandra Bhanjo (26), allegedly transferred substantial portions of the fraudulently collected deposits to undisclosed accounts in Bangladesh and China, as per EOW officers. Dwipika's husband, Tusar Bhanjo, is in judicial custody following his arrest in the case on June 4, 2024. "The mother-daughter duo were on the run following Tusar's arrest. Tusar, a school dropout, had plans to expand his illegal business to Dubai," said DG (crime branch), Vinaytosh Mishra. EOW said that Tusar set up an unauthorised chit fund operation through a Nidhi company in West Bengal in 2023. A Nidhi company operates as a non-banking financial institution that facilitates borrowing and lending among its members. Tusar additionally established a private organisation in Odisha. Tusar, his wife and daughter occupied senior positions in both enterprises. The accused set up offices in Odisha, West Bengal, Assam and Chhattisgarh. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo "The accused enticed investors by offering substantial returns, including 11% monthly interest plus 4% to 5% additional commission for recruiting new members. They also guaranteed monthly payments of Rs 4,000 and Rs 8,000 for investments of Rs 4 lakh and Rs 8 lakh respectively," Mishra said. The company ceased operations in 2024, merely a year after beginning its unlawful activities. The accused allegedly used investors' funds for international travel. "We are trying to find out the exact amount of money siphoned off to benami accounts in Bangladesh and China. The suspected hawala transactions are being investigated," Mishra said. The company used social media, printed materials and organised meetings at premium hotels in Bhubaneswar to attract investors. On May 28, 2024, Manoranjan Dora, a victim from Bhubaneswar, filed a complaint after losing nearly Rs 2.17 lakh. He received the promised 11% interest for just one month before payments ceased. EOW investigations revealed that the company duped about 10,000 individuals, predominantly suspected Bangladeshi nationals living in West Bengal, Assam and Tripura. Through these connections, they expanded their scheme into Bangladesh, defrauding around 750 people in the neighbouring country.
CNBC
08-05-2025
- Business
- CNBC
Coinbase acquires crypto derivatives exchange Deribit for $2.9 billion
Coinbase agreed to acquire Dubai-based Deribit, a major crypto derivatives exchange, for $2.9 billion, the largest deal in the crypto industry to date. The company said Thursday that the cost comprises $700 million in cash and 11 million shares of Coinbase class A common stock. The transaction is expected to close by the end of the year. Shares of Coinbase rose nearly 6%. The acquisition positions Coinbase as an international leader in crypto derivatives by open interest and options volume, Greg Tusar, vice president of institutional product, said in a blog post – which could allow it take on big players like Binance. Coinbase operates the largest marketplace for buying and selling cryptocurrencies within the U.S., but has a smaller share of the global crypto market, where activity largely takes place on Binance. Deribit facilitated more than $1 trillion in trading volume last year and has about $30 billion of current open interest on the platform. "We're excited to join forces with Coinbase to power a new era in global crypto derivatives," Deribit CEO Luuk Strijers said in a statement. "As the leading crypto options platform, we've built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we're set to shape the future of the global crypto derivatives market." Tusar also noted that Deribit has a "consistent track record" of generating positive adjusted EBITDA the company believes will grow as a combined entity. "One of the things we liked most about this deal is that it's not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability," Tusar told CNBC. The deal comes at a time when the crypto industry is riding regulatory tailwinds from the first ever pro-crypto White House. Support of the industry has fueled crypto M&A activity in recent weeks. In March, crypto exchange Kraken agreed to acquire NinjaTrader for $1.5 billion, and last month Ripple agreed to buy prime broker Hidden Road.
