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India cenbank chief Das asks banks to avoid “all forms of exuberance”

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India cenbank chief Das asks banks to avoid “all forms of exuberance”

Mumbai (Reuters) – India’s central bank Governor Shaktikanta Das on Wednesday cautioned the country’s lenders against “all forms of exuberance” days after tightening rules for consumer loans.

While credit growth is accelerating, banks and non bank finance companies (NBFCs) need to ensure lending to individual categories is “sustainable”, Das said at an event in Mumbai.

“All forms of exuberance must be avoided.”

Last week, the Reserve Bank of India (RBI) asked banks to set aside more capital against personal loans and lending via NBFCs on concerns that soaring demand for small-ticket consumer credit could lead to a build-up of risk.

The tightening of lending norms is expected to push up borrowing costs and dent consumer loan growth, which has been rising at nearly double the pace of overall bank credit.

“These measures are pre-emptive in nature; they are calibrated and targeted,” Das said on Wednesday.

Das also asked lenders to be watchful of a buildup of stress due to new lending models.

“Banks and NBFCs need to be careful in relying solely on pre-set algorithms” for taking lending decisions, he said.

The RBI last week did not tighten capital norms for home loans, vehicle loans and gold loans.

The central bank does not currently see signs of stress in housing or vehicle loans, the governor said on Wednesday.

However, he flagged risks that may emerge from the inter-connectedness between banks and NBFCs, and asked non-bank lenders to widen their sources of funding.

The governor also said that so-called micro lenders, some of which have high interest margins, must consider whether the loans are affordable for lower-income consumers.

“Though the interest rates are regulated, certain microfinance institutions (MFI) appear to be enjoying relatively higher net interest margins,” Das said.

“MFIs should ensure that the flexibility provided to them in setting interest rates is used judiciously.”

Join the Custom GPTs Hackathon: Crafting Tailored AI Solutions in 48 Hours

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Join the Custom GPTs Hackathon: Crafting Tailored AI Solutions in 48 Hours

Delaware — Lablab.ai, an initiative by New Native aimed at fostering collaboration and innovation within the artificial intelligence (AI) ecosystem, has announced the upcoming Custom GPTs 48-Hour Hackathon, which is scheduled to take place on Wednesday, November 22, 2023, at 6:00 PM CET on the lablab platform, this hackathon invites participants to explore the potential of creating personalized AI models within a concise timeframe.

The Custom GPTs Hackathon seeks to delve into the capabilities and practical applications of Custom GPTs, empowering both coding and non-coding enthusiasts to craft tailored AI models for specific tasks or industries. By providing participants with a 48-hour window, this event allows them to gain hands-on experience with OpenAI’s GPT technology, regardless of their coding expertise.

“Our dedication to innovation drives lablab.ai, showcasing our commitment to pushing the boundaries of AI. This hackathon underscores our pursuit of enabling solutions that revolutionize AI’s adaptability to challenges,” emphasized Pawel Czech, Co-founder of New Native.

During the hackathon, participants will have the opportunity to redefine the ChatGPT experience by creating bespoke AI models that cater to individual, corporate, or public needs. Custom GPTs offer a range of key features, including the ability to tailor solutions to diverse requirements, integrate with external data sources for real-world implementation, and facilitate code-free creation for individuals without coding expertise, democratizing AI innovation.

“Lablab.ai is dedicated to fostering a thriving AI community, nurturing growth, and collaboration. This hackathon exemplifies our commitment to cultivating a space where individuals come together to explore and expand the horizons of AI possibilities,” highlighted Simon Olson, Co-Founder of New Native.

The Custom GPTs Hackathon encourages participants to solve real-world challenges using AI solutions while fostering collaboration and feedback within the community. The solutions submitted during the hackathon will be judged and voted upon by the community to determine the best use case.

Additionally, participants who submit solutions during the hackathon may have the opportunity to qualify for partner startup accelerator programs, including GAIA’s and Slingshot. These programs provide participants with the chance to refine their concepts and receive intensive mentorship, further enhancing their AI journey.

Lablab.ai’s Custom GPTs 48-Hour Hackathon promises to be an exciting event that brings together AI enthusiasts from diverse backgrounds to showcase their creativity, problem-solving skills, and passion for innovation.

Indian researchers find no link between sudden death and COVID shots

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Indian researchers find no link between sudden death and COVID shots

New Delhi (Reuters) – Indian researchers found no evidence that COVID-19 vaccination was behind “unexplained sudden deaths”, a medical organisation said on Tuesday, instead pointing to the disease itself, binge drinking and intense exercise as risk factors.

The Indian Council of Medical Research (ICMR) conducted a study following what it called “anecdotal reports about sudden unexplained deaths among apparently healthy adults” aged 18 to 45 between October 2021 and March 2023.

“We found no evidence of a positive association of COVID-19 vaccination with unexplained sudden death among young adults,” the research group said in a study published in the Indian Journal of Medical Research.

“At the same time, family history of sudden death, hospitalisation for COVID-19 and lifestyle behaviours such as recent binge drinking and vigorous-intensity physical activity were risk factors for unexplained sudden death.”

ICMR researchers identified 29,171 sudden deaths and scrutinised the records of 729 of the cases as well as 2,916 “control” subjects as part of their investigation, the group said.

Government data shows India suffered 45 million COVID infections and 533,295 related deaths but experts say the actual numbers are several times higher.

Many Indian hospitals ran out of beds during the peak of the COVID crisis and many people died at home.

Hamas chief says close to truce agreement with Israel

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Hamas chief says close to truce agreement with Israel

Gaza/Jerusalem (Reuters) – The chief of Hamas told Reuters on Tuesday that the Palestinian militant group was near a truce agreement with Israel, even as the deadly assault on Gaza continued and rockets were being fired into Israel.

Hamas officials are “close to reaching a truce agreement” with Israel and the group has delivered its response to Qatari mediators, Ismail Haniyeh said in a statement sent to Reuters by his aide.

The statement gave no more details, but a Hamas official told Al Jazeera TV that negotiations were centred on how long the truce would last, arrangements for delivery of aid into Gaza and the exchange of Israeli hostages held by Hamas for Palestinian prisoners in Israel.

Both sides would free women and children and details will be announced by Qatar, which is mediating in the negotiations, said the official, Issat el Reshiq.

Hamas took about 240 hostages during its Oct. 7 rampage into Israel that killed 1,200 people.

Mirjana Spoljaric, president of the International Committee of the Red Cross (ICRC), met Haniyeh in Qatar on Monday to “advance humanitarian issues” related to the conflict, the Geneva-based ICRC said in a statement. She also met separately with Qatari authorities.

The ICRC said it was not part of negotiations aimed at releasing the hostages, but as a neutral intermediary it was ready “to facilitate any future release that the parties agree to.”

Talk of an imminent hostage deal has swirled for days. Reuters reported last week that Qatari mediators were seeking a deal for Hamas and Israel to exchange 50 hostages in return for a three-day ceasefire that would boost emergency aid shipments to Gaza civilians, citing an official briefed on the talks.

Israeli Ambassador to the United States Michael Herzog said on ABC’s “This Week” on Sunday that he hoped for an agreement “in the coming days” while Qatar’s Prime Minister Sheikh Mohammed Bin Abdulrahman al-Thani said that the remaining sticking points were “very minor.”

U.S. President Joe Biden and other U.S. officials said on Monday a deal was near, but an agreement has appeared close before.

“Sensitive negotiations like this can fall apart at the last minute,” White House deputy national security adviser Jon Finer told NBC’s “Meet the Press” program on Sunday. “Nothing is agreed until everything is agreed.”

Hamas’ raid on Oct. 7, the deadliest day in Israel’s 75-year-old history, prompted Israel to invade the Palestinian territory to target Hamas.

Since then, Gaza’s Hamas-run government said at least 13,300 Palestinians have been killed, including at least 5,600 children and 3,550 women, by unrelenting Israeli bombardment.

Hamas said on its Telegram account on Monday that it had launched a barrage of missiles towards Tel Aviv. Witnesses also reported rockets being fired at central Israel.

Hospitals At Risk

The Palestinian news agency WAFA said on Tuesday at least 17 Palestinians were killed in Israeli bombing of the Nuseirat camp in central Gaza at midnight.

There was no immediate comment from Israel.

Gaza’s health ministry said on Monday that at least 12 Palestinians were killed and dozens wounded by firing into the Indonesian Hospital complex, which was encircled by Israeli tanks.

Health officials said 700 patients along with staff were under Israeli fire.

WAFA said the facility in the northeast Gaza town of Beit Lahia, funded by Indonesian organisations, had been hit by artillery rounds. Hospital staff denied there were any armed militants on the premises.

World Health Organisation chief Tedros Adhanom Ghebreyesus said he was “appalled” by the attack that he too said had killed 12 people, including patients, citing unspecified reports.

The Israeli Defence Forces said troops had fired back at fighters in the hospital while taking “numerous measures to minimise harm” to non-combatants.

Like all other health facilities in the northern half of Gaza, the Indonesian Hospital has largely ceased operations but is still sheltering patients, staff and displaced residents.

Twenty-eight prematurely born babies evacuated from Gaza’s biggest hospital, Al Shifa, were taken into Egypt for urgent treatment on Monday.

Israeli forces seized Shifa last week to search for a tunnel network they said was built by Hamas beneath the hospital. Hundreds of patients, medical staff and displaced people left Shifa at the weekend, with doctors saying they were ejected by troops and Israel saying the departures were voluntary.

Israel shares video of Hamas gunman executing woman on Oct. 7

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Israel shares video of Hamas gunman executing woman on Oct. 7

Jerusalem (Reuters) – Israel on Monday released security camera footage from Oct. 7, which shows Hamas gunmen who crossed into Israel chase people from an outdoor music festival, with one seen executing a woman at point-blank range.

Israel is seeking to fend off international criticism for its response to the Hamas rampage, which sparked a devastating war in Gaza. Despite mounting calls for a ceasefire, Israel has said it will push on with its campaign until Hamas is eradicated.

“This is a war between good and evil,” said a post shared on social media with the video footage by an account linked to Israel’s Foreign Ministry.

The video shows people running from Hamas gunmen as they tried to escape a festival near the border on Oct. 7 that turned into a massacre.

At the end of the video, in the background, one of the women being chased squats on the ground, a gunman next to her. Moments later, the gunman raises his rifle and fires from close range at the woman, who falls over.

The video had no audio, but a cloud of dust rises from the ground as he pulled the trigger.

The woman was not identified by name.

Reuters verified the location of the footage, near Kibbutz Alumim, by the road layout, trees and a nearby building that matched the satellite imagery of the area.

Pressure is mounting on Israel to agree to a ceasefire in Gaza, where the Hamas-run government says at least 13,300 people have been killed, including at least 5,600 children.

Israeli officials say they are intent on keeping focus on the killing by Hamas of some 1,200 people, mostly civilians, and the capture of 240 others during the deadliest day in Israel’s 75-year-old history.

There has been strong support and sympathy for Israel from Western governments and many citizens over the Hamas attacks, but the Israeli response has also prompted anger.

Qatar-mediated deal between Israel, Hamas ‘closer than it has ever been’ – source

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Qatar-mediated deal between Israel, Hamas ‘closer than it has ever been’ – source

Dubai (Reuters) – A Qatar-mediated agreement between Israel and Hamas for the release of hostages and a multi-day pause in hostilities is in its “final stages” and is “closer than it has ever been,” a source briefed on the talks told Reuters on Tuesday.

The deal brokers the release of around 50 civilian hostages by Hamas and the release of Palestinian women and children from Israeli custody, the source briefed on the talks said.

The agreement would mark the biggest hostage release and first prisoner swap since the war began on Oct. 7. Hamas took about 240 hostages during its rampage into Israel, which Israeli authorities say killed 1,200 people.

The chief of Hamas told Reuters earlier on Tuesday that the Palestinian militant group was near a truce agreement with Israel, even as the deadly assault on Gaza continued and rockets were being fired into Israel.

Israel has generally avoided giving commentary on the status of the Qatar-led talks. Israel’s Channel 12 television quoted an unidentified senior government source saying “they are close” but gave no further details.

India’s anti-terror agency files case against Sikh separatist for Air India threat

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India’s anti-terror agency files case against Sikh separatist for Air India threat

New Delhi (Reuters) – India’s anti-terrorism agency has filed a case against a Sikh separatist leader for warning Air India passengers that their lives were in danger and threatening not to let the flag carrier operate anywhere in the world.

The agency said security forces were on alert after the threats by Gurpatwant Singh Pannun, who acts as general counsel of Sikhs for Justice (SFJ), a group campaigning to establish an independent Sikh homeland called Khalistan carved out of India.

The case against Pannun has been registered under provisions of the Unlawful Activities (Prevention) Act 1967 and sections of the Indian Penal Code, the National Investigation Agency (NIA) said in a statement on Monday.

“Pannun threatened that Air India would not be allowed to operate in the world … in his video messages, released on Nov. 4,” it said, adding that he had urged Sikhs not to travel on Air India flights from Sunday, “claiming a threat to their lives”.

Reuters has not independently verified the video messages, which were widely shared on social media this month.

Pannun told Reuters in an emailed response that his message was to “boycott Air India not bomb” and that the Indian government was engaging in a disinformation tactic to “crush freedom of expression”.

He added that the “government can not stop SFJ from running secessionist Khalistan referendum, which is the real motive why NIA filed frivolous terror case.”

Air India declined to comment on the matter. The NIA did not immediately respond to a request for comment.

The demand for Khalistan has resurfaced many times, although it now has little support in India, which sees the movement as a security threat.

A violent insurgency in the 1970s and 1980s by Sikh militants paralysed the northern state of Punjab, where Sikhs are a majority, for more than a decade.

India banned the SFJ as an “unlawful association” in 2019, citing that it was involved in “anti-national and subversive” activities.

It listed Pannun as an “individual terrorist” in 2020, stating that he was issuing appeals to “Punjab-based gangsters and youth” to fight for Khalistan.

The interior ministry said that year that Pannun, originally from a village in Punjab, was residing in the United States. Media said he has citizenship of U.S. and Canada.

Interpol has rejected two requests by India to issue a red corner notice against him, The Indian Express newspaper said in October last year. The SFJ says it has offices in Britain, Canada and U.S.

The threats come as Canadian agencies investigate allegations linking India’s agents to the killing of a Sikh separatist leader there, which has frayed ties between the two countries. India has rejected Canada’s suspicions.

In the wake of the threats, investigations have been launched in Canada, India and some other countries where the airline owned by the Tata Group conglomerate operates, the NIA said.

Air India has previously been targeted by Sikh militants, who were blamed for a bombing in 1985 of its Boeing 747 aircraft flying from Canada to India that killed all 329 people aboard off the Irish coast.

Pannun has also previously threatened to disrupt railways and thermal power plants in India, the agency said.

Putin says BRICS could help reach political settlement in Gaza conflict

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Putin says BRICS could help reach political settlement in Gaza conflict

Moscow (Reuters) – Russian President Vladimir Putin called on Tuesday for a political solution to the Israeli-Palestinian conflict and said regional states and members of the BRICS group of countries could be involved in efforts to reach such a settlement.

In televised comments to a virtual BRICS summit, Putin once again blamed the Middle East crisis on the failure of U.S. diplomacy in the region.

“We call for the joint efforts of the international community aimed at de-escalating the situation, a ceasefire and finding a political solution to the Palestinian-Israeli conflict. And the BRICS states and countries of the region could play a key role in this work,” Putin said.

He did not elaborate on how such an effort might be organised.

The BRICS group includes Brazil, Russia, India, China and South Africa. It agreed in August to expand by adding Saudi Arabia, Iran, Ethiopia, Egypt, Argentina and the United Arab Emirates as members.

Russian and Western policy experts say Putin is trying to use the Gaza crisis to his geopolitical advantage as part of a strategy to court allies in developing countries and build what he calls a new world order to counter U.S. dominance.

In previous comments he has repeatedly attacked U.S. policy, urged Israel to show restraint and has expressed sympathy for the plight of Palestinians.

Last month he cautioned Israel against laying siege to Gaza in the same way that Nazi Germany besieged Leningrad during World War Two, saying a ground offensive there would lead to an “absolutely unacceptable” number of civilian casualties.

On Tuesday he said it was “terrible” that Palestinian children were dying in large numbers, adding that the sight of operations being performed on children without anaesthetics “evokes special feelings”.

“Due to the sabotage of U.N. decisions, which clearly provide for the creation and peaceful coexistence of two independent and sovereign states – Israel and Palestine – more than one generation of Palestinians has been brought up in an atmosphere of injustice towards their people, and the Israelis cannot fully guarantee the security of their state,” Putin said.

US forces attacked at Iraq airbase, respond in self-defence – US officials

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US forces attacked at Iraq airbase, respond in self-defence – US officials

Baghdad (Reuters) – U.S. forces were attacked at an airbase west of Baghdad early on Tuesday and a U.S. military aircraft responded in self-defence, two U.S. officials said, in the first U.S. retaliation on Iraqi territory to dozens of recent militant drone and missile attacks.

The attack against Ain al-Asad airbase caused minor injuries and damage to infrastructure, one U.S. official said, with another saying U.S. forces used an AC-130 gunship to respond.

The U.S. had so far limited its response to numerous recent attacks against its forces in Iraq and neighbouring Syria, claimed by Iran-aligned Iraqi militia groups, to three separate sets of strikes in Syria.

The attacks began on Oct. 17 and have been linked by Iraqi militia groups to U.S. support for Israel in its bombardment of Gaza, following attacks by Gaza-based Palestinian militant group Hamas on Israel.

The attacks against U.S. targets have ended a year-long unilateral truce that Iraqi factions, some formed in the aftermath of the 2003 U.S. invasion to fight U.S. troops and others in 2014 to fight Islamic State, declared with Washington.

Tuesday’s strike was the first reported by the U.S. in Iraq in more than two years.

Social media accounts linked to Iran-aligned Iraqi militias published a statement in the name of the “Islamic Resistance in Iraq”, mourning a member who they said had been killed in battle against U.S. forces on Tuesday, without elaborating.

His killing is the first reported casualty in Iraq linked to the Gaza war, which has drawn in other factions in Iran’s network of regional militias, known as the Axis of Resistance, such as Lebanon’s Hezbollah.

U.S. and international forces that make up the global coalition to fight the remnants of Islamic State have been targeted more than 60 times in Iraq and Syria since Oct. 17, U.S. officials say.

Dozens of U.S. servicemen suffered minor injuries in the attacks but have all returned to duty, U.S. officials say.

The U.S. has 900 troops in Syria and 2,500 in Iraq on a mission it says aims to advise and assist local forces trying to prevent a resurgence of Islamic State, which in 2014 seized large swaths of both countries before being defeated.

Property seized in money laundering probe linked to Indian opposition’s Gandhis

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Property seized in money laundering probe linked to Indian opposition’s Gandhis

New Delhi (Reuters) – India’s money laundering investigators on Tuesday said they seized properties worth 7.52 billion Indian rupees ($90.34 million) in a probe linked to a nine-year-old complaint against opposition Congress party leader Rahul Gandhi and his mother Sonia.

The complaint, lodged by a member of parliament from Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) in 2014, accused the Gandhis of forming a shell company and illegally gaining control of property worth $300 million.

The property belonged to a firm that published the National Herald newspaper, founded in 1937 by India’s first prime minister and Rahul Gandhi’s great grandfather Jawaharlal Nehru.

The seized assets include properties spread across Indian cities including New Delhi and Mumbai as well as investments in equity shares, the Enforcement Directorate said in a statement.

The Congress party, however, termed the move “petty vendetta tactics”.

“This is a prefabricated structure of deceit, lies and falsehood, of by and for the BJP, to divert, distract and digress in the middle of elections,” Congress spokesperson Abhishek Singhvi said in a statement referring to the ruling Bharatiya Janata Party (BJP).

Five Indian states are voting to elect new legislatures this month. The regional polls are key, coming ahead of national elections due next year.

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