INDIA REJECTS CHINA'S NEW EXCUSE FOR LADAKH STAND-OFF

India has rejected Chinese contention that its border infrastructure upgrade

along the 3,488 km Line of LAC is the crux of on-going military tensions,

saying the People's Liberation Army has already built and continues to

construct roads and communication network on its side of the border.

"First, the bridges inaugurated by Defence Minister Rajnath Singh on Monday

are away from the LAC and would facilitate civilian movement and access

apart from military logistics. Second, China has never raised the issue of

India's infra upgrade at the on-going military-diplomatic talks. Third, what

about the road, bridges, optical fibres, solar-heated huts and missile

deployments of the PLA close to the LAC. India is only building infra on its

side of the LAC and for that we do not need Chinese permission," said a

senior official.

However, according to China watchers, the reason why PLA is concerned about

Indian infrastructure upgrade in Ladakh is that it could pose a military

threat to the multi-billion China Pakistan Economic Corridor, or CPEC, to

Pakistan that passes via Khunjerab Pass and Pakistan-occupied Kashmir. India

has very strongly objected to Beijing exploiting the ecologically sensitive

Gilgit-Baltistan area and PoK.

INDIA RESPONDS TO PAK RANTS AT C'WEALTH FOREIGN MINISTERS' MEET

India on Wednesday lampooned Pakistan at a virtual meeting of the

Commonwealth foreign ministers, calling it a promoter of state sponsored

terrorism "masquerading" as an alleged victim of the menace.

Without directly naming Pakistan, India also referred to the neighbouring

country's dubious distinction of becoming synonymous with the phrase

"epicentre of terrorism" and hosting the largest number of terrorists

proscribed by the United Nations.

The sharp reaction by Secretary (West) in Ministry of External Affairs Vikas

Swarup came in the meeting after Pakistan Foreign Minister Shah Mahmood

Qureshi alleged that a state in South Asia is fanning hyper nationalism to

"engineer" illegal demographic change in a disputed territory, in a

reference to Kashmir.

Swarup was representing External Affairs Minister S Jaishankar at the

Commonwealth foreign ministers' meeting.

"When we heard them rant about a south Asian state, we were left wondering

why it was describing itself? And not surprisingly it came from a globally

acknowledged promoter of state sponsored terrorism masquerading as an

alleged victim of the same," Swarup said. "We heard it from a country that

brought genocide to South Asia 49 years back when it killed its own people,"

he said.

Swarup also said it is the same country that has the dubious distinction of

becoming synonymous with the phrase 'epicentre of terrorism' and hosting the

largest number of terrorists proscribed by the UN.

"The only dispute left in what it alleged today as a 'disputed territory' is

its own illegal occupation of certain parts, which sooner or later, it would

have to vacate," he said.

Swarup also hit out at Pakistan for denying the rights of indigenous

minorities. "For such a country to hypocritically preach about religious

minority groups elsewhere, while trampling itself upon the rights of its own

indigenous minorities, was indeed most regrettable, and a blatant misuse of

this august platform," Swarup said.

In his address, Qureshi said while the world remained preoccupied with the

coronavirus pandemic, a state in South Asia is targeting its religious

minorities in order to foment division and hatred amongst community groups.

"It has transgressed the rights and freedoms of millions and fanned hyper

nationalism to engineer illegal demographic change in a disputed territory

and sowed racial tensions. We ignore its transgressions only at our own

peril," he said.

GOVT: INDIA'S GDP IN PPP TERMS 11 TIMES MORE THAN B'DESH'S

India's GDP in purchasing parity terms (PPP) in 2019 was 11times more than

that of Bangladesh while its population was eight times more, government

sources said on Wednesday while responding to Congress leader Rahul Gandhi's

attack on Twitter on the issue.

Rahul had taken to the micro-blogging site and said: "Solid achievement of 6

years of BJP's hate filled cultural nationalism: Bangladesh set to overtake

India."

Government sources pointed out that data showed that Bangladesh overtaking

India in 2020 is a temporary effect and that India will again overtake

Bangladesh in 2021. The data showed that Bangladesh's per capita GDP in 2020

would be $1,888 while that of India would be at $1,877.

FAROOQ, OMAR CALL ON MEHBOOBA; GUPKAR SIGNATORIES TO MEET TODAY

The day after PDP leader Mehbooba Mufti was released from detention,

National Conference leaders Farooq and Omar Abdullah visited the former

Chief Minister to invite her to a meeting of the signatories to the Gupkar

declaration at the senior Abdullah's residence on Thursday afternoon.

The Gupkar Declaration was issued on August 4, 2019, after a meeting of

Kashmir's mainstream political parties at Farooq Abdullah's Gupkar residence

unanimously resolved to stay united to protect to "defend the identity,

autonomy and special status of Jammu and Kashmir". The special status was

scrapped the following day, and the state was broken up into two Union

Territories. The scheduled meeting on Thursday will be the first time the

signatories of the Gupkar Declaration will meet since the events of August

2019.

On August 22 this year, the mainstream political parties in the Valley

issued a joint declaration reiterating their commitment to fight for

restoration of Jammu and Kashmir's special status.

INTERNATIONAL AFFAIRS

======================

PARIS GOES UNDER CURFEW AS EUROPE RAMPS UP VIRUS CURBS

France on Wednesday became the latest European country to toughen

anti-coronavirus measures, imposing a curfew in Paris and eight other cities

from Saturday, while Germany and Ireland also ramped up restrictions. "We

have to act. We need to put a brake on the spread of the virus," President

Emmanuel Macron told public television, announcing a shutdown between 9:00

pm and 6:00 am that will remain in force for as long as six weeks.

Having suppressed the first, Europe is again facing tough choices on how to

control a new wave without the economic devastation wrought by nationwide

lockdowns. In Germany, Chancellor Angela Merkel announced tougher measures

on gatherings and mask-wearing. "I am convinced that what we do now will be

decisive for how we come through this pandemic," the leader said.

New infections in Germany continued to rise Wednesday, pushing past 5,000

cases in 24 hours -- a level not seen since a lockdown imposed on Europe's

biggest economy in the spring. "We're in a situation where I think we can

still flatten the exponential growth," Lothar Wieler, head of Germany's

disease control agency said. "But for that we all need to make an effort."

TRUMP, BIDEN CAMPS PORTRAYING EACH OTHER AS MENTALLY & PHYSICALLY UNFIT

The US presidential election has turned ugly, personal, and ferocious, its

prime contenders embarking on a course of denigrating each other over their

mental acuity, physical fitness, and moral rectitude in pursuit of crucial

voting blocks, particularly seniors and women.

President Trump, whose dragging of US political discourse into the gutter

has agitated even Republican stalwarts, continued with his tactics of

falsified videos, doctored photos, and lies - some of which have been

flagged by social media platforms - by posting a photoshopped image of Joe

Biden in a wheelchair with senior citizens in what appeared to be an elder

care facility. In the caption "Biden for President", the P had been erased

to make him a resident.

Separately, Trump associates Rudy Giuliani and Steve Bannon provided a New

York tabloid with emails and photos purporting to show a dissolute Hunter

Biden conniving with Ukrainian officials, in an effort to derail the

Democratic surge - similar to what was accomplished in 2016 with Hillary

Clinton's emails.

Democrats pushed back, ridiculing the tabloid story as a "nothing burger"

and asking Trump about his tax returns, his debts, and his failure to

contain a pandemic that has claimed 2,16,000 lives. Democrat surrogates and

'Never Trumpers' have also kept up a relentless surge of videos highlighting

everything from what they say is Trump's endless lies to his mental and

physical incapacity to the corrupt ways of his inner circle.

THE REST

========

BORROWERS' DIWALI IN GOVT HANDS: SUPREME COURT

The Supreme Court on Wednesday asked the Centre to implement its decision to

waive compound interest on loans up to Rs 2 crore at the earliest even as

Solicitor General Tushar Mehta said the modalities were being worked out to

ensure borrowers got the intended benefit.

"We are only asking if the benefit of compound interest waiver is

percolating down to borrowers," a Bench headed by Justice Ashok Bhushan

asked the Solicitor General. "Their (borrowers') Diwali is in your hands,"

the Bench said while posting the matter for further hearing on November 2.

As the Bench insisted on knowing as to when the decision on waiving

"interest on interest" would be implemented, Mehta said: "The government has

given the assurance on affidavit and we have already said that a decision

has been taken. now only the modalities have to be worked out." Mehta sought

time till November 15 to work out the modalities for implementation of its

decision not to charge "interest on interest" from most vulnerable borrowers

belonging to seven categories on loans up to Rs 2 crore.

RAIN LEAVES 31 DEAD IN 4 STATES

Twenty-five deaths in rain-related incidents were reported in Telangana and

Andhra Pradesh on Wednesday and heavy downpour wreaked havoc in Karnataka as

a deep depression in the Bay of Bengal crossed the coast in Kakinada,

leaving behind a trail of destruction in the southern states.

Six more people, including four members of a family, were killed in a wall

collapse triggered by heavy rains in Pandharpur town of Maharashtra's

Solapur district during the day.

While 15 people died in Hyderabad following incessant rainfall, which led to

waterlogging on roads and inundation of some low-lying areas in the city, 10

people were killed in rain-related incidents across Andhra Pradesh in the

past 48 hours.

ARMY VETERANS SEEK ACTION OVER FAKE NEWS ON 'MUSLIM REGIMENT'

A large number of military veterans have written to President Ram Nath

Kovind requesting stern action against those spreading "fake news" on social

media about a non-existent "Muslim Regiment" of the Indian Army refusing to

fight in the 1965 war against Pakistan.

India has never had any Muslim regiment and such "blatant falsehoods", which

began in May 2013, are still being insidiously spread on the social media at

a time when the country is confronted with military tensions with both

Pakistan and China, said the veterans.

Signed by 120 veterans, including former Navy chief Admiral L Ramdas and 24

two and three-star generals from the armed forces, the letter refers to a

blog written in TOI by Lt-General S A Hasnain (retd) that said the

disinformation campaign was possibly part of "psy ops" unleashed by

Pakistan's Inter Services Public Relations wing.

"We wish to point out that Muslims fighting as part of multi-class regiments

in the Indian Army have proved their absolute commitment to the cause of our

nation," said the letter.

FARM LEADERS WALK OUT OF MEETING WITH AGRI SECY, WANT MINISTER PRESENT

Talks between the government and representatives of farmer unions from

Punjab ended on a stormy note as members of the delegation walked out of a

meeting with Agriculture Secretary Sanjay Agarwal, demanding the presence of

the Minister and accusing the Centre of adopting "double standards".

Dr Darshan Pal, a member of the coordinating committee of the 29 farm

organisations, said their biggest grudge was that there was no minister to

talk to them and that Minister of State for Agriculture Kailash Choudhary

was addressing farmers of Punjab through videoconferencing on a day that

they had been called to Delhi for the talks.

While Choudhary was holding his virtual meeting at the BJP headquarters,

Union Minister Narendra Singh Tomar was in the Cabinet meeting that was on

at that time.

The farmers submitted to the Agriculture Secretary a 10-point demand list,

which included repealing of the farm laws and the Electricity Amendment Act,

2020, and that the government legally ensure procurement of farm produce on

minimum support price. The demands also include "immediately release of

detained and imprisoned intellectuals, democratic rights activists and

student activists all over the country."

MOST ELECTRICITY GENERATORS BANNED IN DELHI FROM TODAY

The AAP Government has banned use of electricity generators, except those

needed for essential or emergency services, in the national capital as

anti-pollution measures under the Graded Response Action Plan (GRAP) come

into force from Thursday in the Delhi-NCR region.

The essential services include health care facilities, elevators, railway

services, Delhi Metro, airports and interstate bus terminals and the data

centre run by the National Informatics Centre.

The power companies have been asked to ensure uninterrupted power supply to

the consumers.

DELHI HIGH COURT SEEKS CENTRE STAND ON LEGALISING SAME-SEX MARRIAGES

Seeking reply from the government on two petitions seeking legalisation of

same-sex marriages - one under the Special Marriage Act (SMA) and the other

on Foreign Marriage Act (FMA) - the Delhi High Court on Wednesday said the

statute is gender-neutral and the Centre must interpret the law in favour of

the citizens.

The division bench of Justices Rajiv Sahai Endlaw and Asha Menon, while

issuing notice to the Centre and Delhi government, asked them to file their

replies within four weeks and said the rejoinders should be filed within

four weeks thereafter.

The case was adjourned for next hearing on January 8, 2021.

"We may shed our inhibitions. The very language of the statute is

gender-neutral. Please try to interpret the law in favour of the citizens of

the 'Sanatan Dharma' country," Justice Menon said. "This (petition) is not

adversarial. My request to both counsels from Union of India is that this is

not adversarial."

The judge made the comment in response to a submission made by advocate Raj

Kumar Yadav, who appeared on behalf of the Centre. Yadav said, "This is a

peculiar situation in the history of Sanatan Dharma. In 5,000 years of this

history, this kind of situation we have not faced."

INFY BEATS TCS, WIPRO IN Q2 REVENUE GROWTH

Infosys's revenue growth in the second quarter came in way better than that

of rivals TCS and Wipro, encouraging it to announce salary increases and

promotions across all employee levels from January. India's second-largest

software services company will also give 100% variable pay and a special

incentive to junior employees for the second quarter.

TCS, too, had said last week that all its employees would be given a salary

increase from October. For the third straight quarter, Infosys's growth rate

was better than TCS's. In constant currency, the growth was 2.2% compared to

the same period last year. TCS and Wipro both saw revenue falling in Q2 -

the former by 3% and the latter by 3.4%. On a reported basis, revenue was up

3.2% to $3.3 billion. Net profit was up 15% to $653 million.

IN SPITE OF ANTI-CHINA RHETORIC, CHINESE SMARTPHONES DOMINATE INDIAN MARKET

Thousands of social media posts, angry protests outside factory gates and

dismantled billboards promoting Chinese smartphones have failed to dislodge

the leading handset brands in India. In spite of being attacked from all

corners, a faltering supply chain and negative sentiments soaring high among

the local consumers, top Chinese smartphone brands gained market share

during the most critical phase - the April-June quarter of this year.

According to data from advisory services firm International Data Corporation

(IDC), four of the top five brands in the local market continue to be from

China and their total market share went up to 66.4 per cent (by volume)

during the quarter - from 60.9 per cent in the corresponding quarter last

year. Market leader since mid-2017, Xiaomi held on to its first position

with 29.4 per cent share. The other three - Vivo (17.5 per cent), Realme

(9.8 per cent) and Oppo (9.7 per cent) - stood firm at third, fourth and the

fifth positions, respectively.

According to Navkendar Singh, research director at IDC India, there are no

credible alternatives that can replace Chinese smartphone brands in the

local market.

CINEMA HALLS SET TO REOPEN TODAY IN SEVERAL STATES

Cinema halls in several parts of the country ready to open after seven

months in the shadow of COVID-19. While theatres and multiplexes will remain

closed in states like Maharashtra, Tamil Nadu, Kerala and Chhattisgarh, they

will open this week in several sattes, with stringent dos and don'ts in

keeping with the new COVID-19 normal.

PVR Cinemas, India's largest film exhibitor with 845 screens in 176

properties across 71 cities, on Wednesday said 10 states and four union

territories have given their go-ahead for the reopening of cinemas.

India's confirmed coronavirus cases now stand at 73.03, after an addition of

68k infections yesterday. The number of fatalities stood at 1,11,311 after

694 deaths were registered in a day. The number of Active cases is falling

daily and currently stands at 8.12 lakhs, down from a peak of 10.17 lakhs on

Sep 18.

IPL: DELHI CAPITALS BEAT RAJASTHAN ROYALS

Delhi Capitals beat Rajasthan Royals by 13 runs in Dubai yesterday. Shikhar

Dhawan scored 57 off 33 balls as Delhi got to 161/7. In reply, Royals scored

148/8, with debutant Tushar Deshpande taking 2/37.

Delhi Capitals now have 6 wins from their 8 matches while RR have just 3

from their 8.

INDICATORS

Sensex 40,795 (+169), Nifty 11,971 (+36), Trading Value NSE ,(Rs.crores)

50,849.46

Nasdaq 11,769 (-95) Dow 28,514 (-166), S&P 3,489 (-23)

US$-Rs. 73.19 GBP-Rs. 94.97, Euro-Rs. 85.98, UAE Dhm-Rs.19.92, Can$-Rs.

55.70, Aus$- Rs. 52.46

GBP 0.76 /US$, Euro 0.84 /US$, Jap.Yen 105.45 /US$, Aus$ 1.39 /US$, Sing

1.35 /US$, Bang Taka 83.26 /US$, Can$ 1.31 /US$, Mal Ring 4.14 /US$,

Pak Re 163.44 /US$, Phil Peso 48.54 /US$, Russian Rouble 77.24 /US$, NZ$

1.50 /US$, Thai Baht 31.12 /US$, Ukraine Hryvnia 28.04 /US$, Norway NOK 9.22

/US$

Bitcoin - USD 11,371

Dollar Index 93.42 Brent Crude 43.37 BDI 1,732

Gold world Spot Price USD/aoz 1,895 India (Rs. per gm 24k/22k) 5,061 / 4,961

Silver (Rs. Per KG) 60,900

THOUGHT FOR THE DAY

Who makes the past, a patterne for next yeare, Turnes no new leafe, but

still the same thing reads, Seene things, he sees againe, heard things doth

heare, And makes his life, but like a paire of beads. - John Donne

OFF TRACK

A blonde in New York claims that her blind date stole her iPhone and her

wallet. She was like, 'I have to get that iPhone back I mean, what if he

calls?'"