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American cult bike maker Harley Davidson on Wednesday unveiled two new models in its Softail portfolio - Low Rider and Deluxe - priced at Rs 1.2 million and Rs 1.8 million, respectively. The models are an addition to the four MY18 Softail models launched in October 2017. The Low Rider comes with 19-inch front and 16-inch rear radiate cast wheels and standard ABS (anti-lock braking system) while the Deluxe has features such as retro-modern styled LED lighting from front to back, running lights and tombstone tail, among others. "The addition of two new models is aimed at strengthening the brand's Softail portfolio in the country. It also continues to reinforce our leadership position among the leisure riding segment in the country," Harley Davidson India and China MD Peter MacKenzie told PTI. Managing Director, Harley-Davidson, India and China, Peter MacKenzie poses on a Harley-Davidson Deluxe during launch of the company's two new 'Softail...

Sridevi, whose last rites were performed on Wednesday, lived her life with "dignity", her family said in a statement, while requesting the media to give the family the space to grieve her untimely death. The Bollywood icon's husband, film producer Boney Kapoor, also released a statement on Wednesday saying the loss was "inexplicable in words". "To the world she was their Chandni ...their Sridevi... but to me she was my love," the filmmaker wrote in a post that he shared from his wife's Twitter handle. On the lines of the statement released by the family, Kapoor also urged media to respect the family's need to grieve privately. Earlier on Wednesday, Sridevi was cremated in Vile Parle crematorium with full state honours. Hundreds of thousands of people, including Bollywood celebrities, joined the film star's family to bid adieu to the first lady superstar of India. The last rites were performed by the actress' daug...

Segregated Witness, or SegWit, the software upgrade designed to speed up Bitcoin transactions, is gaining traction. The number of transactions using the technology doubled to more than 30 percent in just the past three days, according to the SegWit.Party website, which tracks the data. The following chart shows the percentage of transactions using SegWit in the past week. As Bitcoin grew in popularity in the past year, the cryptocurrency’s network became clogged, making transaction times and fees soar. In December, transaction costs climbed to as high as $55, according to BitInfoCharts. SegWit is meant to solve that problem by taking some of the work needed to confirm transactions off the main chain, speeding up the process. Major crypto-asset exchanges Coinbase Inc. and Bitfinex started using SegWit this month, helping to speed up adoption. The upgrade was first released in August. Transaction fees have dropped to a four-month low of $2, though confirmed transacti...

Tech giant Apple announced that its Chinese iCloud operations were being transferred to a local firm in southern China, along with its iCloud encryption keys. The move comes after Apple announced its partnership with Guizhou-Cloud Big Data (GCBD), a Chinese firm supervised by a board ran by government-owned businesses, last year. With the relocation, Apple users with iCloud accounts registered in China will now have their data hosted by the GCBD centre. However, users who prefer not to hand over data can choose to delete their Chinese iCloud accounts, The Verge reported. The iPhone maker in a set of emails to mainland Chinese customers last month had said the move would enable the firm's development in terms of speed and reliability of iCloud and ensure greater compliance with Chinese regulations. Following the official transfer of operations, reports suggest that Chinese iCloud users may experience a ramp up in terms of speed of operations, owing to th...

Her mortal remains arrived in Mumbai on Tuesday night and the funeral will take place today at 3.30 pm. Her family announced that Sridevi's body would be kept at Celebration Sports Club in Lokhandwala for people to pay their last respect before it is taken for cremation."On behalf of Khushi, Jahnvi, Boney Kapoor, the entire Kapoor and Ayyappan families, a sincere thanks to the media for your continued sensitivity and support during this emotional moment," a statement released by the Kapoor family said. The actor passed away late Saturday night in Dubai, where she had gone along with her family for the wedding of her nephew Mohit Marwah.Dubai officials handed over the body to her family yesterday after completion of all formalities, which took three days. The Indian embassy in Dubai had worked closely with UAE officials to ensure the process was completed in the least possible time.The actor's autopsy report had led to speculations over her death as the re...

British motorbike maker   Triumph Motorcycles   has launched the Bonneville Speedmaster in India at a starting price of Rs 11,11,500 (ex-showroom). Though a cruiser, the 1,200cc Speedmaster is built on the blueprint of the Bobber with some major design changes to suit the cruiser characteristics. The hybrid, therefore, is touted as a classic modern, instead of a cruiser. Currently, the company’s classic modern portfolio has six bikes – the Street Twin, T100, T120, Street Scrambler, Thruxton 1200 and Bobber. And the Cruiser portfolio has two bikes – Thunderbird and Rocket III. Apart from the Speedmaster, the company is also expected to launch two more bikes in India this year, probably in the adventure & touring segment. The Speedmaster has a 1,200cc, liquid-cooled, parallel-twin, eight-valve engine mated with a six-speed gearbox. The fuel-injected motor churns out 77PS of power at 6,100RPM and a peak torque of 106Nm at 4,000RPM. While the front looks similar to t...

The   Singapore Tourism Board   (STB) announced its strategic partnership with Paytm, a homegrown mobile-first financial services platform, thus making STB the first National Tourism Organisation (NTO) to partner with the latter. As a part of this partnership,   Paytm   would run joint promotions on its platform to promote Singapore tourism. This will bring Singapore's tourism offerings to Paytm's 300 million strong users. Paytm   will be offering up to Rs 2,500 cash back on flight tickets to Singapore that are booked through the app. The   Paytm   platform will house a microsite featuring Singapore's new, inside-out, unified brand 'Passion Made Possible' and related branded content. The customised microsite will help entrench the country's Passion Made Possible brand, which was launched in August last year with the Indian visitors. Under the partnership, STB and   Paytm   will also embark on a series of print ads and radio buys t...

Check NPAs above Rs 500 mn for possible fraud, alert CBI: Govt tells banksJolted by the Punjab   National   Bank fraud, the finance ministry on Tuesday directed managing directors of public sector banks to examine non-performing asset (NPA) accounts of more than Rs 500 million for possible fraud and report any cases of wilful default to the Central Bureau of Investigation (CBI). The ministry also set a 15-day deadline for PSBs to put in place an effective system to address rising operational and technological risks. These directions are part of the reforms that the government had packaged with the recapitalisation plan for banks.Read more Govt to ensure firms do not convert employees into contract workers. The Union government is planning to take measures to ensure companies do not convert their full-time workers into contract employees by misusing the proposed fixed-term contract framework.   Sebi likely to accept Infosys consent plea in Rajiv Bansal caseThe S...

Facebook   has apologised, saying it regrets promoting a   Virtual Reality   (VR) shooting game named "Bullet Train" on its stand at the annual   Conservative Political Action Conference   2018 (CPAC) in the US, a week after 17 students were killed in a   Florida   school shooting. "The demo was part of 'a standard set of experiences' that   Oculus   featured at public events," Hugo Barra, Vice President,   Facebook   VP of   Virtual Reality   was quoted as saying by The Verge on Monday. The social media giant's move comes after it faced criticism for featuring a violent game so closely after the shooting at a high school in Parkland,   Florida. "In light of the recent events in   Florida   and out of respect for the victims and their families, we have removed the game from the demo. We regret that we failed to do so in the first place," Barra added. US   President   Donald Trump ...

The Central Bureau of Investigation (CBI) has booked an auto dealer in Jamshedpur for allegedly defrauding the   Corporation Bank   to the tune of Rs 67.7 million (Rs 6.77 crore). The agency has booked auto dealer Ramnandi Estates Pvt Ltd and its directors Akhouri Gopal, Sanjeeta Akhouri, Akhouri Nishant and Akhouri Nitesh.An empanelled valuer of the   Corporation Bank   Sanjay Kumar has also been named as accused in the FIR. A loan of Rs 100 million (Rs 10 crore) was allegedly sanctioned to the company from the zonal office of the bank in Patna for setting up a showroom and service centre in 2014. ALSO READ:   PNB scam and state-owned banks: The writing on the wallIt is alleged that the loan was sanctioned on the basis of highly enhanced valuation reports of securities. The bank has alleged that the accused defaulted on the loan, which was declared Non-Performing Asset in September 2016 causing a loss of Rs 67.7 million (Rs 6.77 crore). ALSO READ:...

Veteran actor Sridevi's mortal remains are still in Dubai, pending paperwork. After receiving the Autopsy report, the Dubai police has started examining the circumstances of the actor's death. According to media reports, police are trying to recreate the sequence of events leading up to her death and have questioned those accompanying her, including her husband.Meanwhile, Indian Envoy to UAE Navdeep Suri assured that the Indian embassy was trying hard to send Sridevi's body to India at the earliest."Our embassy and consulate are working closely with local authorities to expedite the return of Sridevi's mortal remains and also keeping Kapoor family apprised. It is our endeavour to send mortal remains of Sridevi to India at the earliest, " Suri told ANI.Sridevi's death took a new twist on Monday as her autopsy report revealed that she died due to accidental drowning and not cardiac arrest as reported earlier. The autopsy report has also r...

Amid the multi-agency probe into the Punjab National Bank (PNB) scam, the state-run bank on Monday said the amount of fraudulent transactions could be Rs 13 billion (Rs 1,300 crore) more than the current estimate of about Rs 114 billion (Rs 11,400 crore). The latest announcement from the public sector lender assumes significance against the backdrop of the probe going on into the Rs 114 billion (Rs 11,400 crore) scam, which is already one of the biggest in the Indian banking sector. On February 14, the bank had detected the fraud wherein billionaire jeweller Nirav Modi and associates had allegedly acquired fraudulent letters of undertaking (LoUs) from one of the branches of the PNB for overseas credit from other Indian lenders. In a filing to the BSE late tonight, the bank said the amount of unauthorised transactions could go up by more than Rs 13 billion (Rs 1,300 crore). ALSO READ: PNB fraud case: Key Nirav Modi papers seized from law firm "... We ...

The CBI has sought from the Chief Vigilance Officers of five banks the details of financial transactions in the nostro accounts of Punjab National Bank on the basis of 293 fraudulent Letters of Undertaking (LoUs) issued by it to jewellers Nirav Modi and Mehul Choksi, officials said on Tuesday. The agency has also collected documents related to Nirav Modi from Cyril Amarchand Mangaldas, a leading law firm, at the start of the investigation, they said. During the course of the searches after registering the FIR against Nirav Modi, the CBI felt that some files could be with the law firm, officials said, adding a team went to the office of the firm early this month and collected those documents. The agency on Tuesday questioned three General Managers of the Punjab National Bank(PNB) who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity. The General Managers handling these departments...

PNB tightens staff transfer policy to ensure irregularities do not recur Fraud-hit Punjab National Bank (PNB) on Monday held its board meeting for five hours and decided to replace the current lax transfer policy with strict as well as clear norms to ensure that such irregularities do not recur. The board also resolved that internal and external auditors must ensure that system procedures, particularly those involving SWIFT and forex transactions, are followed in all the branches. Read More... PNB fraud case: Key Nirav Modi papers seized from law firm The Central Bureau of Investigation (CBI) has seized “crucial documents” related to the Nirav Modi case from the premises of Mumbai-based law firm Cyril Amarchand Mangaldas (CAM). A CBI official confirmed this, saying the agency had conducted a search operation at the law firm last week in connection with the Rs 114-billion fraud at Punjab National Bank. Read More... Anti-profiteering drive: HUL to offer govt another t...

Sony Mobile on February 26 announced the Xperia XZ2 and Xperia XZ2 Compact at the Mobile World Congress in Barcelona. The next-generation Xperia-series is built around a new concept design with incremental updates overall to fit in the league of premium smartphone range of 2018. The Xperia range has always been in focus for its multimedia and imaging capabilities, and the Xperia XZ2 and Xperia XZ2 Compact get major updates on this front. Both the smartphones get advanced camera, display and audio technology, along with a new design for modern outlook. Sony Xperia XZ2Sony Xperia XZ2 The Xperia XZ2 and Xperia XZ2 Compact are similar in most departments – features, imagining and multimedia capabilities, besides technical specifications. However, the screen and design language are areas where the two are different from each other. Screen The Xperia XZ2 Compact sports a 5-inch fullHD+ screen compared with the 5.7-inch fullHD+ one in the Xperia XZ2. However, ...

National carrier Air India plans to lease "new iPads with pre-loaded content" for service recovery onboard its aircraft. According to the tender document issued on February 23, 2018, the airline intends to deploy 150 new iPads on 18 aircraft. The new iPads are expected to assist in service recovery as substitutes for defective in-flight entertainment systems. Last month, Air India's CMD Pradeep Singh Kharola had indicated that the airline might deploy substitutes for defective in-flight entertainment systems. Air India has invited bids for 150 iPads to replace defective video screens on some of its planes. The tender is for new tablets for 18 aircraft in Air India's fleet and is for the period of one year.The bid document seeks to lease new iPads (Pro 10.5) with preloaded content by using the current IFE (in-flight entertainment) content for service recovery on board its aircraft."An airline official said on the condition of anonymity that these iPads...

A grey area in the  Reserve Bank of India  (RBI) guidelines on credit facilities for  import  of  pearls  has led to a conflict between public sector  banks  embroiled in the Rs 114-billion scandal related to fake issuance of Letters of Undertaking (LoUs) by  Punjab National Bank. ALSO READ:  PNB scam: Firestar's Vipul Ambani created disproportionate assets, says CBI There are nothing specific on availing of credit facility for trade of pearls, bankers note. The group of companies belonging to  Nirav Modi  and  Mehul Choksi  had sought loans for  import  of new pearls, PNB has told the investigative agencies. ALSO READ:  Sensex can dip to 30,000; PNB scam dents investors' confidence: Marc Faber “If you go back and look at old circulars issued by RBI, it used to refer to  pearls  separately. But, somewhere down the line, it seems the regulator removed it, creating ambiguity among banke...

State-owned Punjab National Bank, which is hit by “Letter of Undertaking” fraud, has transferred over 1,400  employees  since February 19, 2018 following advisory from Central Vigilance Commission (CVC).The Delhi-based lender claimed these transfers were made as per prevailing rotational transfer policy of the bank and that these transfers have not affected the branch operations.Bank has transferred 721 officers, 437 clerks and 257 sub-staff, taking total number of  employees  being transferred to 1,415. The media reports of the bank transferring close to 18,000  employees  are factually incorrect, PNB clarified.A PNB executive said these transfers have been made in the wake of advisory from Central Vigilance Commission to adhere to transfer policy of the bank. "Normally every year transfers are made after March to ensure year end work does not suffer. But this time bank has advanced the activity in light of unfortunate events," he said referring t...

With the  diamond  industry going through a rough patch and two of its big names —  Mehul Choksi  and  Nirav Modi  — accused of fraudulent activities, the issue of illegitimate channels such as  hawala  and round tripping of diamonds is again gaining prominence. ALSO READ:  PNB scam: Firestar's Vipul Ambani created disproportionate assets, says CBI India exports polished diamonds worth around $35 billion a year. It is the biggest processor of rough diamonds. ALSO READ:  Sensex can dip to 30,000; PNB scam dents investors' confidence: Marc Faber However, when imports of polished diamonds and exports of rough diamonds take place, there are issues of round-tripping.According to the Gem & Jewellery Export Promotion Council (GJEPC) data, in 2017-18 till January, India exported rough diamonds worth $1.175 billion against $1.5 billion in full year 2016-17.India imported polished diamonds worth $1.88 billion in the first 10 mon...

It has been reported that the  Reserve Bank of India  (RBI) is setting up a panel to curb bank fraud. It is ridiculous to set up a panel by the  RBI  now, after 49 years of bank nationalisation. Bank frauds are not new to India though PNB’s multi-crore fraud may be the largest one, which could have been avoided with compliance of simple internal control systems. The Rs 110 billion fraud in one group account and in one branch means that the branch must be a scale V or scale VI branch (in a banker’s language), headed by either a general manager or a deputy general manager. This being a multi-crore forex-related fraud, the GM or DGM heading this branch must be an expert in forex, failing which he cannot be expected to head such an exceptionally large branch.There must be a concurrent auditor for such a large branch. There must be a regular internal inspection of the branch every year, besides external audit by the bank’s appointed auditors every year. There may...