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News in Short

News in Short - 15-February-2022

Ramkumar-Myneni win Bengaluru Open

Date: 15 February 2022 Tags: Sports
  • RamkumarRamanathan and SakethMyneni beat the French pair of Hugo Grenier and Alexandre Muller 6-3, 6-2 to clinch the Bengaluru Open ATP Challenger.
  • The trophy was Ramkumar’s seventh in doubles on the Challenger Tour – second in Bengaluru – and Myneni’s ninth.
  • The combination of the fast serves of Ramkumar and the deft volleys by Saketh proved to be a deadly combination as the duo raced to a win.

Karnataka HC strikes down law to ban online gambling

Date: 15 February 2022 Tags: Judiciary & Judgments
  • The Karnataka High Court, on February 14, struck down the state’s recent online gambling law as unconstitutional, providing a major relief to the skill-based gaming firms that had shut down operations in the state.
  • This judgement will likely pave the way for fantasy sports and gaming firms such as Dream11, Mobile Premier League, Games24x7 (RummyCircle, My11Circle), and Ace2Three make a comeback in the state.
  • The Karnataka High Court had on December 22 reserved its judgement after concluding the hearings from a series of petitioners that included industry associations, gaming companies and individuals who had challenged the law.

LIC set for biggest Indian IPO

Date: 15 February 2022 Tags: Miscellaneous
  • Life Insurance Corporation of India (LIC) has filed its draft share sale prospectus with the capital markets regulator SEBI, paving the way for India’s largest initial public offering (IPO).
  • There is also a possibility that LIC will become India’s most valuable listed company, toppling Reliance Industries Ltd, after listing on the stock exchanges.
  • LIC plans to sell 316.25 million shares, which is about 5 per cent of its total equity base, said the draft red herring prospectus filed with SEBI (Securities and Exchange Board of India).

Industrialist Rahul Bajaj passes away

Date: 15 February 2022 Tags: Obituaries
  • Rahul Bajaj, one of India’s top industrialists and chairman emeritus of Bajaj Auto Ltd passed away in Pune. He was 83.
  • Rahul played a key role in industry bodies around the world like World Economic Forum and CII and was very well respected.
  • Bajaj companies have presence across segments such as automobiles, general and life insurance, investment and consumer finance, home appliances, electric lamps, wind energy, special alloy and stainless steel, material handling equipment and travel.

US senators introduce bill to address social media addiction

Date: 15 February 2022 Tags: Miscellaneous
  • U.S. Senators have introduced a bill aimed at addressing addiction to social media platforms like Meta Platform’s Facebook or Twitter.
  • Whistle-blowers have alleged that social media platforms spread dangerous misinformation about coronavirus and the vaccines to prevent it, among other ills.
  • Under the bill,  a study would be conducted into potential interventions that Facebook or others could use to address problems of social media addiction.