UCO Bank shares zoom 15 after Rs 3074 crore equity infusion from

first_imgUCO bank shares surged on Tuesday after the public sector lender received an equity infusion of Rs 3,074 crore from the government.The capital infusion was part of the government’s Rs 10,882 crore package for four public sector banks, such as UCO Bank, and Syndicate Bank, Bank of Maharashtra and Central Bank of India.UCO bank announced the centre’s equity infusion, by way of preferential allotment, in a filing to the Bombay Stock Exchange.”In term of Regulation 30 of the SEBI (LODR) Regulation 2015, the exchanges are hereby informed that Govt of India vide letter No. F.No.7/38/2014-BOA dated 26.12.2018 has conveyed its decision to invest Rs. 3,074 Crores in the equity of the Bank by way of preferential allotment and Bank hos received the amount on 31.12.2018 (i.e. Today),” the bank said in a statement on Monday.While Bank of Maharashtra received Rs 4,498 crore, Syndicate Bank got 1,632 crore and Central Bank of India Rs 1,678 crore. The government’s equity infusion is intended to help PSBs steer clear of RBI’s punitive restrictions, and thereby ease liquidity in the credit markets.The government has announced a Rs 65,000 crore package for recapitalising public sector banks in the country during 2018-19. As much as Rs 23,000 crore has been disbursed so far.PCA frameworkThe government’s equity infusion in the public sector banks is part of the measures to help more PSBs emerge from the Reserve Bank of India’s Prompt Corrective Action (PCA) framework. The PCA framework, which lays down stricter norms for banks, has been a bone of contention between the government and the RBI.The government has been looking at getting the RBI to remove some banks from the PCA programme. Eleven state-run banks have been pooled into this list by the RBI, a move that has curbed these banks’ lending capacity. Close The shares rose more than 15 percent to 23.40 intraday on Tuesday.The Kolkata-based bank was in doldrums in the early part of 2018. In April, its shares nosedived after the Central Bureau of Investigation (CBI) charged former chairman Arun Kaul for alleged cheating.center_img BIGGEST BANK FRAUDS IN 2018last_img read more

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US Expands Remain In Mexico To Dangerous Part Of Border

first_img Share Rebecca Blackwell/APA migrant waiting to seek asylum sleeps at the entrance to the Puerta Mexico international bridge in Matamoros, Tamaulipas state, Mexico, Friday, June 28, 2019. Hundreds of migrants from Central America, South America, the Caribbean and Africa have been waiting, most in rented rooms or a distant shelter, for their number to be called at the bridge in downtown Matamoros, to have the opportunity to request asylum in the U.S.The U.S. government on Friday expanded its policy requiring asylum seekers to wait outside the country to one of Mexico’s most dangerous cities, where thousands of people are already camped, some for several months.The Department of Homeland Security said Friday that it would implement its Migrant Protection Protocols in Brownsville, Texas, across the border from Matamoros, Mexico. DHS says it anticipates the first asylum seekers will be sent back to Mexico starting Friday.Under the so-called “Remain in Mexico” policy, asylum seekers are briefly processed and given a date to return for an immigration court hearing before being sent back across the southern border. Since January, the policy has been implemented at several border cities including San Diego and El Paso, Texas.The U.S. is trying to curtail the large flow of Central American migrants passing through Mexico to seek asylum under American law. The busiest corridor for unauthorized border crossings is South Texas’ Rio Grande Valley, where Brownsville is located. Other cities in the Rio Grande Valley were not immediately included in the expansion.DHS said it had coordinated with the Mexican government on the policy. The Mexican government did not immediately respond to requests for comment. But the Trump administration has pressured Mexico to crack down on migrants, threatening earlier this year to impose crippling tariffs until both sides agreed on new measures targeting migration.Matamoros is at the eastern edge of the U.S.-Mexico border in Tamaulipas state, where organized crime gangs are dominant and the U.S. government warns citizens not to visit due to violence and kidnappings.The city is also near where a Salvadoran father and his 23-month-old daughter were found drowned in the Rio Grande, in photos that were shared around the world.Many people have slept for the last several months in a makeshift camp near one of the international bridges, including families with young children. Thousands more stay in hotels, shelters, or boarding houses. Only a few migrants daily have been allowed to seek asylum under another Trump administration policy limiting asylum processing known as “metering.”A list run by Mexican officials has more than 1,000 people on it, said Elisa Filippone, a U.S.-based volunteer who visits Matamoros several times a week to deliver food and donated clothes. But many others not on the list wait in shelters. There are frequent rumors that migrants are shaken down for bribes to join the list, Filippone said.She described a desperate situation that could be made worse if people are forced to wait longer in Mexico for their asylum claims to be processed. “I’m afraid that Matamoros is about to catch on fire,” she said.Filippone said Friday that she saw the camp closest to one of the bridges being cleared away, though it was not immediately clear why or where the people detained would go.DHS recently implemented the “Remain” policy for migrants in Nuevo Laredo, across from Laredo, Texas. About 1,800 asylum seekers and migrants are currently waiting in Nuevo Laredo, where some have reported being kidnapped and extorted by gangs. “I don’t want to go out on the street. I’m afraid the same men … will do something to me or my boys,” said one woman, insisting on speaking anonymously out of fear for their safety.People in Nuevo Laredo were told to return in September for U.S. court dates. At other points of the border, wait times have stretched to several months.Unlike in criminal court, the U.S. government does not have to provide lawyers to people in the immigration court system. Attorneys in South Texas have long questioned where they could meet with potential clients in Tamaulipas.Many migrants who get to the U.S. have exhausted all their resources by the time they arrive, said Lisa Brodyaga, an attorney who has represented asylum seekers for decades. “It would be extremely difficult for them to find attorneys who would have the time and the ability and the willingness to expose themselves to what’s going in Matamoros,” she said. “I’m not sure how it’s going to work.”last_img read more

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Two new tidal disruption events discovered

first_imgArtist’s impression of a tidal disruption event. Image credit: ESA/C. Carreau In two recently published scientific papers, an international team of astronomers has presented the detection of two new tidal disruption events (TDEs). Using the Palomar Observatory located near San Diego, California, the researchers discovered flares of radiation which turned out to be TDEs. Their findings were described in papers published online March 2 and 3 on the arXiv pre-print server. TDEs are astronomical phenomena which occur when a star passes close enough to a supermassive black hole and is pulled apart by the black hole’s tidal forces, causing the process of disruption. Such tidally disrupted stellar debris starts raining down on the black hole and radiation emerges from the innermost region of accreting debris, which is an indicator of the presence of a TDE.For astronomers and astrophysicists, TDEs are potentially important probes of strong gravity and accretion physics, providing answers about the formation and evolution of supermassive black holes.The first TDE identified in the 1990s took the form of luminous soft X-ray outbursts in quiescent galaxies from the ROSAT survey. More recent TDE discoveries were made by surveys like the intermediate Palomar Transient Factory (iPTF), which utilizes the 1.2-meter Samuel Oschin Telescope at Palomar Observatory. Now, a team of astronomers reports another detection of TDEs from the iPTF survey.The newly found TDEs were spotted on May 29 and Aug. 29, 2016 and designated iPTF16axa and iPTF16fnl respectively. A series of follow-up observations using NASA’s Swift space observatory and ground-based telescopes was also conducted to gain insights into the evolution of these two events.The researchers found that iPTF16axa was detected 49 rest-frame days after disruption. They discovered that its light curve shows no color evolution with time and has a constant temperature of about 30,000 K. They also found that this TDE is hosted by a Sloan Digital Sky Survey (SDSS) galaxy with an estimated black hole mass of approximately 40 million solar masses – one of the highest black hole masses among TDE hosts known to date. The data provided by Swift allowed the team to exclude the possibility that the detected flare of radiation could be caused by a variable active galactic nucleus (AGN) and confirmed that it originated from a TDE.”Both Swift UVOT observations and the follow up spectra of iPTF16axa are consistent with the object being a TDE rather than a supernova or a variable AGN,” the paper reads.Moreover, the research indicates that the massive black hole and the short rise time suggest that general relativity effects might play an important role in this event. In contrary to iPTF16axa, iPTF16fnl is hosted by a galaxy (designated Markarian 950) with a much less massive black hole – about two million solar masses. It is the lowest black hole mass in TDE hosts among the optical sample of TDEs. The team also noted that iPTF16fnl shows very strong emission in ultraviolet wavelengths, with a temperature of about 19,000 K. They added that this TDE is very unusual when compared to other such events.”iPTF16fnl is remarkable in three ways: it is the nearest well studied TDE (66.6 Mpc), and it has one of the shortest exponential decay timescales (about 15 days) and one of the lowest peak luminosities,” the researchers wrote. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. © 2017 Phys.org More information: arxiv.org/pdf/1703.00965.pdfarxiv.org/pdf/1703.01299.pdf Researchers discover a black hole feeding frenzy that breaks records Citation: Two new tidal disruption events discovered (2017, March 9) retrieved 18 August 2019 from https://phys.org/news/2017-03-tidal-disruption-events.html Explore furtherlast_img read more

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