YES BANK FOUNDER ARRESTED, DAUGHTER HELD AT MUMBAI AIRPORT FOR QUESTIONINGThe Enforcement Directorate (ED) arrested Rana Kapoor, founder and promoter of Yes Bank, at 4 am Sunday after over 36 hours of interrogation on allegations that he received kickbacks through a Rs 600-crore loan given by Dewan Housing Finance Limited (DHFL) to a company owned by his family. At the time, the ED claimed, Yes Bank had a debt exposure of Rs 3,700 crore to DHFL.Kapoor was produced in the afternoon before a court in Mumbai, where he claimed that the Rs 600 crore was “borrowed independently” by his “children’s company”. With the ED also claiming that the case involved money-laundering of “proceeds of crime” to the tune of Rs 4,300 crore, Kapoor was remanded in the agency’s custody till March 11.Later Sunday, the ED detained Kapoor’s daughter Roshini Kapoor from the Mumbai international airport, based on a Lookout Circular, and began questioning her.Responding to the ED’s charges on the loan from DHFL, Kapoor’s lawyer claimed that the agency was “selectively joining dots” and that the Rs 600-crore loan is a “performing one”, whose interest is being paid, and not a Non-Performing Asset (NPA). “This is selective targeting because there is public outrage. You put blame and make one man a scapegoat,” Kapoor’s lawyer, Zain Shroff, told the court.CONGRESS, BJP IN FRESH VERBAL BATTLE OVER YES BANKThe BJP and the Congress sparred over crisis-ridden YES Bank, with the ruling party asking the latter to clarify if they knew of the bank’s loans growing manifold.BJP’s information and technology wing in-charge Amit Malviya put out a tweet taking potshots at the Gandhi family. “Every financial crime in India has deep link with the Gandhis. [Vijay] Mallya used to send flight upgrade tickets to Sonia Gandhi. Had access to MMS [Manmohan Singh] and PC [P Chidambaram]. Is absconding. Rahul inaugurated Nirav Modi’s bridal jewellery collection, he defaulted. Rana [Kapoor] bought Priyanka Vadra’s paintings...”Malviya’s tweet read.This elicited a sharp response from the Congress, which termed the charge “fake”.The Congress said Priyanka Gandhi-Vadra had sold an M F Husain painting of her father Rajiv Gandhi to Yes Bank’s Rana Kapoor for Rs 2 crore and the entire amount was disclosed in her income tax return of 2010.Congress spokesperson Abhishek Manu Singhvi said it was a “diversionary” tactic by the government, and said that the bank’s loan book rose from Rs 55,633 crore in March 2014, the year Narendra Modi became Prime Minister, to Rs 2,41,499 crore in March 2019. “Why did the loan book rise by 100% in two years after demonetisation i.e from Rs 98,210 crore in March 2016 to Rs 2,03,534 crore in March 2018? Were PM and FM sleeping, ignorant or complicit?” he asked.OIL CRASHES AFTER SAUDI ARABIA LAUNCHES PRICE WAROil fell by the most since 1991 on Monday after Saudi Arabia started a price war with Russia by slashing its selling prices and pledging to unleash its pent-up supply onto a market reeling from falling demand because of the coronavirus outbreak.Brent crude futures fell by as much as $14.25, or 31.5%, to $31.02 a barrel. That was the biggest percentage drop since January 17, 1991, at the start of the first Gulf War and the lowest since February 12, 2016.Saudi Arabia, the world's biggest oil exporter, is attempting to punish Russia, the world's second-largest producer, for balking on Friday at production cuts proposed by the Organization of the Petroleum Exporting Countries (OPEC).Saudi Arabia now plans to boost crude output above 10 million barrels per day(bpd) in April after the current supply deal between OPEC and Russia, - known as OPEC+ - expires at the end of March.EMPTY STREETS AS NORTHERN ITALY GOES INTO LOCKDOWNThe sun shone on deserted squares in Milan and empty gondolas in Venice on Sunday as a quarter of Italy's population came to grips with being cut off from the rest of the country, under new rules strictly limiting movement in and out of the new red zone.While some packed their bags and fled, most in northern Italy stayed to brave a lockdown imposed by the government on some 15 million people, as it ramps up the fight against the deadly coronavirus.The country on Sunday recorded the second-highest coronavirus toll in the world, after reporting a sharp jump in deaths - from 133 to 366 - and overtaking South Korea on infections.Italy's interior ministry said anyone flouting the lockdown risked at least three months in jail or a 206 euro ($233) fine.Only people with a "serious" reason that cannot be postponed, such as urgent work or family issues, will be allowed in or out of the quarantine zones, which cover Lombardy and 14 provinces in four other regions.Passengers departing on flights in the lockdown areas will need to justify themselves - apart from people who had been in the area temporarily, who are allowed to return home. All arrivals will need to justify their travel.Police will be setting up controls at train stations to check people's temperatures, and stopping all cars on main roads in and out to verify the reason for travel, the ministry said in a statement.ALLAHABAD HC CALLS UP GOVT’S 'NAME AND SHAME' HOARDINGS BREACH OF PERSONAL LIBERTYThe Allahabad High Court was critical of Uttar Pradesh government’s decision to put up hoardings of reported anti-CAA protestors with their photo, name, and addresses across Lucknow on Sunday, saying that it was “an absolute encroachment on personal liberty of individuals”.A Division Bench of the court headed by Chief Justice Govind Mathur took suo motu cognizance of the case. It reserved its verdict for Monday.Earlier in the day, the court said it hoped that good sense would prevail on the state.The Lucknow administration, on Friday, had put up about 100 hoardings with photographs of the anti-CAA protesters. The names, photographs and residential addresses of suspects were listed on the hoardings, sparking fear among those named on the hoardings. They have also been asked to pay for the damages to public and private property within a stipulated time, or have their properties attached by the district administration.The move has attracted strong reactions from protesters, political parties, ordinary citizens, legal experts, and social activists, who slammed the idea of public shaming in this manner.In one particular photograph put up on the hoardings, the photograph of a minor is also seen.MADHYA PRADESH: CONGRESS MLA RETURNS, DENIES HE WAS HELD HOSTAGE BY BJPCongress legislator Bisahulal Singh, one of the three ruling party legislators missing for past five days, returned to Madhya Pradesh on Sunday and admitted that he was unhappy at not finding a berth in the Kamal Nath ministry.“When juniors are made ministers and you are not accommodated despite being an MLA for many terms, it is natural to get angry. Nothing wrong in getting angry if your interests are not protected,’’ the Anuppur MLA said.Denying that he was taken hostage by the BJP, a charge leveled by senior Congress leader and former chief minister Digvijaya Singh, Bisahulal claimed he was on pilgrimage to temples in southern India.COUPLE HELD FOR IS-CAA PROTEST LINK: DELHI POLICEThe Delhi Police Special Cell Sunday arrested a couple from Kashmir with alleged Islamic State links, claiming that they were instigating protests against the Citizenship (Amendment) Act. An FIR has been registered against the two, residents of Southeast Delhi’s Jamia Nagar, under sections of sedition and criminal conspiracy and the Unlawful Activities (Prevention) Act.DCP (Special Cell) Pramod Singh Kushwah said Jahanzaib Sami (36) and wife Hina Bashir Beg (39), who belong to Srinagar’s Shivpora, “have links with the Khorasan module of IS (ISKP)”. Police also accused Sami, who works with a private firm, of helping publish the February edition of IS magazine Sawt al Hind (Voice of India), adding “further evidence is being gathered”.“They were propagating the banned terrorist outfit’s ideology of hatred against non-Muslims… They were also inciting Muslims to take up a violent struggle against the State, and against the CAA,” Kushwah said.102-YEAR-OLD READIES CV AS BJP PUTS HIM TO FREEDOM FIGHTER TESTA familiar figure in civil society movements in Karnataka for decades – from Quit India movement to Vinoba Bhave’s Bhoodan movement to a recent campaign to revive lakes in Bengaluru, H S Doreswamy finds himself at the centre of a political storm. It began when the BJP MLA from Bijapur, Basangouda Patil Yatnal, called him a “fake freedom fighter” and a “Pakistani agent” last month, seeking proof of his involvement in the Independence movement. Several senior BJP leaders, including Union minister Pralhad Joshi, backed Yatnal.Of the many allegations made against Doreswamy by BJP leaders is his “connection” with Amulya Leona Noronha, the 19-year-old held on February 20 for “sedition” over slogans she had raised at an anti-Citizenship (Amendment) Act rally, on the basis of a photograph which shows him at her residence in Koppa.“He is the conscience of our state,” says historian Ramachandra Guha, calling the campaign against Doreswamy “shocking and scandalous”. “A man of great decency and honesty, he has been a part of several social and ecological movements, has spoken up for farmers and the landless. He has criticised Congress governments for their shady land deals… But what shocks me the most is the silence of Chief Minister B S Yeddiyurappa, who knows what kind of a person he is,” says Guha.Doreswamy says he is as surprised. “I have been in public life for 60 years. We have differences in ideology but I have friends in the BJP and RSS too. I never expected that the BJP as a whole would attack me like this.”PENSION MARKET SET FOR DEEP REFORMS; FOREIGN FUNDS TO GET MORE LEEWAYDeep reforms are on the anvil in the country’s pension market, with plans to permit foreign pension funds to set up independent pension trusts and make the Pension Fund Regulatory Development Authority (PFRDA) the sole authority to allow a pension product into the market. This could entail a thorough rewrite of the pension products that insurance companies and some mutual funds offer today in the fast-expanding market for retirement products in India.These are part of some 30 changes that the finance ministry is planning to bring in by amending the PFRDA Act of 2013.The amendments will also help to attract more foreign investors, who are now allowed to invest upto 49 per cent in the sector. Though government officials have often talked of plans to raise this limit to 74 per cent (in tandem with the insurance sector), the straitjacket of the pension rules is seen as a dampener.AUSTRALIA CRUSH INDIA TO WIN WOMEN'S T20 WORLD CUPIndia saved their worst for the last as a brutal Australian side outclassed them by 85 runs for an unprecedented fifth T20 World Cup triumph in a final that promised much but delivered very little here on Sunday.Batting first after the coin landed in Meg Lanning’s favour, Australia came out in scintillating fashion with their openers Alyssa Healy (75 off 39 balls) and Beth Mooney (78 off 54 balls) laying the foundation with a 115-run partnership in double quick time. Stirred up by the grand occasion, their onslaught fired Australia to a formidable 184 for four in the stipulated 20 overs.Overwhelmed by the occasion, India crumbled to 99 all out in front of a turnout of 86,174 at the iconic Melbourne Cricket Ground, a record in women’s cricket history.The manner and magnitude of the defeat, including a few sub plots, were reminiscent of the 2003 men’s World Cup final when Ricky Ponting’s Australia thrashed Sourav Ganguly’s India in an anti-climactic title clash.The match was as good as over when India were 18/3 in the fourth over, which became four for 4/30 when skipper Harmanpreet Kaur departed and 58/5 when Veda Krishnamurthy was taking the long walk back.From India’s point of view, the final outing was a far cry from their campaign opener when the same team humbled the hosts.SQUAD ANNOUNCED FOR HOME ODI SERIES AGAINST S AFRICAOpening batsman Shikhar Dhawan, medium pacer Bhuvneshwar Kumar, all-rounder Hardik Pandya returned to the India ODI squad for three-match series against South Africa starting from March 12. Dhawan, Bhuvneshwar and Pandya proved their fitness in the recently-concluded Dy Patil T20 Cup. Meanwhile, KL Rahul, who was excellent in the limited-overs series against New Zealand, but not included in the Test squad, has also been included in the squad.Limited-overs vice captain Rohit Sharma was rested from the series. He had suffered a calf injury which had ruled him out of the New Zealand Test series. But with youngster Prithvi Shaw in the 15-man squad, it will once again be a three-way contest for the openers slot between Shaw, Dhawan and Rahul.Though, India persisted with Rahul as the wicketkeeper in the New Zealand series, Rishabh Pant has been included in the squad. It remains to be seen if India go with Rahul or Pant in the playing XI in the series.THOUGHT FOR THE DAYTruth enlightens the mind, but won't always bring happiness to your heart. - Jedi Proverb