The Reserve Bank of India has barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards for failing to build IT systems and controls commensurate with its growth leading to serious deficiencies and non-compliances with regulatory requirements.

However, RBI has directed Kotak Mahindra Bank to continue providing services to its existing customers, including its credit card customers.

According to RBI’s press release, “These actions are necessitated based on significant concerns arising out of Reserve Bank’s IT Examination of the bank for 2022 and 2023 and the continued failure on part of the bank to address these concerns in a comprehensive and timely manner”.

It further added that serious deficiencies and non-compliances were observed in Kotak Mahindra Bank’s IT inventory management, patch and change management, user access management, vendor risk management, data security and data leak prevention strategy, business continuity and disaster recovery rigour and drill.

The order also noted that in the absence of a robust IT infrastructure and IT Risk Management framework, the bank’s core banking system and its online and digital banking channels have suffered frequent and significant outages in the last two years with the recent one being 10-hour service disruption seen on April 15, 2024.

Ban implications
The curbs have been imposed under section 35A of the Banking Regulation Act. This section is invoked in lieu of public interest, interest of banking policy or when affairs of a bank are detrimental to depositors or prejudicial to the interest of the bank.

Imposed as a ‘cease and desist’ order, any deviation or non-compliance would attract very high penal action by the regulator.

The curbs may be removed post a comprehensive external audit conducted by the bank with RBI’s approval and the remedial actions pointed out therefrom are complied with to RBI’s satisfaction.

Reacting to the RBI order, Kotak Mahindra Bank said it has taken measures for adoption of new technologies to strengthen its IT systems and will continue to work with RBI to swiftly resolve balance issues at the earliest.

The urgency of climate action cannot be overstated. With each passing day, the consequences of climate change become more apparent and more devastating. From extreme weather events to rising sea levels, the impacts are being felt around the globe. It’s clear that immediate and concerted action is needed to mitigate these effects and protect the planet for future generations.

While governments and businesses play a crucial role in addressing climate change, individuals also have a significant impact. Every person has the power to make choices and take actions that reduce their carbon footprint and contribute to a more sustainable future. Here are some steps that every individual can take to help combat climate change:

Reduce energy consumption: One of the most effective ways to reduce carbon emissions is to use less energy. This can be achieved by turning off lights and appliances when they’re not in use, using energy-efficient appliances, and insulating homes to reduce heating and cooling needs.

Transition to renewable energy: Switching to renewable energy sources like solar or wind power can significantly reduce carbon emissions associated with electricity consumption. Many utilities now offer renewable energy options for homeowners, making it easier than ever to make the switch.

Drive less, drive smart: Transportation is a major source of carbon emissions, so reducing the number of miles driven can have a big impact. Carpooling, taking public transportation, biking, and walking are all great alternatives to driving solo. When a car is necessary, choosing a fuel-efficient or electric vehicle can further reduce emissions.

Reduce, reuse, recycle: The mantra of “reduce, reuse, recycle” is more relevant than ever in the fight against climate change. By minimizing waste and recycling materials whenever possible, individuals can help conserve resources and reduce the energy required for manufacturing new products.

Support sustainable practices: When making purchasing decisions, opt for products and companies that prioritize sustainability. 

Get involved in advocacy and activism: Climate change is a complex issue that requires systemic change at all levels of society. By getting involved in advocacy efforts and supporting policies that promote renewable energy, conservation, and emissions reductions, individuals can help drive meaningful change.

Educate others: Spread awareness about the urgency of climate action and the steps that individuals can take to make a difference. 

By taking these actions, individuals can play a vital role in addressing the urgent challenge of climate change. While the scale of the problem may seem daunting, every small step towards sustainability adds up to make a  difference. Together, we can create a more resilient and sustainable future for all.

Pudina, commonly known as mint, is much more than a mere garnish or flavor enhancer in culinary pursuits. This versatile herb, with its refreshing aroma and distinctive flavor, holds a significant place in both the culinary and medicinal worlds. From adding a zing to dishes to offering a plethora of health benefits, pudina is truly a gem in the world of herbs.

In culinary applications, pudina is celebrated for its ability to uplift dishes with its invigorating flavor profile. Its fresh, minty taste adds a delightful twist to a variety of dishes, ranging from salads to curries and beverages to desserts. The vibrant green leaves of pudina are often used as a garnish, not only for their aesthetic appeal but also for their burst of flavor. Additionally, pudina leaves can be finely chopped or crushed and incorporated into sauces, chutneys, marinades, and dressings to infuse dishes with their distinctive essence.

Moreover, pudina is a popular choice for beverages, particularly in the form of mint tea or mint-infused water. The infusion of mint leaves imparts a refreshing taste and a soothing aroma, making it a perfect choice for a revitalizing drink. Pudina is also a key ingredient in various cocktails and mocktails, adding a touch of freshness and complexity to the concoctions.

Beyond its culinary applications, pudina has been revered for its medicinal properties for centuries. One of the most well-known benefits of pudina is its ability to aid digestion. The menthol present in mint helps to soothe the digestive tract, alleviate indigestion, and reduce symptoms of irritable bowel syndrome (IBS). Consuming pudina tea or incorporating fresh mint leaves into meals can help promote healthy digestion and relieve gastrointestinal discomfort.

Furthermore, pudina is valued for its ability to alleviate nausea and motion sickness. Whether consumed as a tea, inhaled as essential oil, or applied topically, the aroma of mint has a calming effect on the stomach, making it an effective remedy for nausea and vomiting.

Additionally, pudina is believed to have anti-inflammatory and antimicrobial properties, which contribute to its medicinal prowess. The menthol and menthone compounds found in mint have been shown to possess anti-inflammatory properties, making pudina an effective remedy for respiratory conditions such as asthma and the common cold. Moreover, the antimicrobial properties of mint help to combat oral bacteria, promoting oral hygiene and fresh breath.

In conclusion, pudina stands as a refreshing herb with a myriad of culinary and medicinal benefits. Its distinct flavor and aroma make it a prized ingredient in cuisines around the world, while its therapeutic properties contribute to its esteemed status in traditional medicine systems.

In recent years, the discourse surrounding climate change has intensified, paralleled by a surge in extreme weather events globally. The fingerprints of climate change are becoming increasingly evident in our daily lives.

But what exactly is the connection between climate change and these extreme weather phenomena?

At its core, climate change refers to long-term alterations in temperature, precipitation patterns, and other atmospheric conditions due to human activities, notably the emission of greenhouse gases like carbon dioxide and methane. These emissions results in significant rise in global temperatures—a phenomenon commonly known as global warming.

The Global warming extend far beyond rising temperatures. They catalyze complex changes in atmospheric dynamics, giving rise to a cascade of extreme weather events.

Here’s how:

1. Intensified Heatwaves: As global temperatures soar, heatwaves become more frequent, intense, and prolonged. High-pressure systems trap heat, exacerbating drought conditions and fueling wildfires.
2. Heightened Storm Activity: Warmer oceans provide the energy necessary to fuel tropical storms and hurricanes, amplifying their intensity and rainfall. Rising sea levels exacerbate storm surges, leading to catastrophic flooding in coastal communities.
3. Erratic Precipitation Patterns: Climate change disrupts traditional precipitation patterns, leading to both droughts and deluges. Prolonged droughts parch the land, imperiling agriculture and water supplies. Conversely, heavy rainfall events trigger flash floods and landslides, wreaking havoc on communities and infrastructure.
4. Melting Ice Caps and Glacial Retreat: The accelerated melting of polar ice caps and glaciers contributes to sea-level rise, threatening coastal cities and island nations with inundation. The loss of reflective ice surfaces also amplifies global warming by reducing the Earth’s albedo, leading to further temperature increases.
5. Shifts in Atmospheric Circulation: Climate change alters atmospheric circulation patterns, influencing the behavior of jet streams and weather fronts. These shifts can lead to prolonged periods of stagnant weather, exacerbating heatwaves or causing persistent precipitation in certain regions Governments, policymakers, and communities must prioritize efforts to reduce greenhouse gas emissions, transition to renewable energy sources, and implement resilient infrastructure and disaster preparedness measures.

In conclusion, the link between climate change and extreme weather events is undeniable. As we continue to witness the escalating frequency and severity of these events, it becomes increasingly imperative to confront the root causes of climate change and take decisive action to safeguard our planet and future generations.

Japan’s population began to decline after peaking at 128 million in 2008, registering 125 million in 2022. If this trend continues, Japan’s population is projected to decline to 63 million in 2100, half of its population in 2022. Behind the trend lies Japan’s declining birth rate.

From April 2023, foreign workers who fulfilled specific criteria became eligible for permanent residency after one year instead of the previous three.

Japanese universities have also started offering special programmes aimed at luring graduates (‘future creative talent’) from the world’s top 100 universities, who would then .

The Japanese government announced it had passed an alarming milestone. The native population of the country had fallen by 837,000 in the 12 months to October 2023, a decline of almost 100 people an hour.

JapThealso plans to more than double the number of foreigners eligible for skilled worker visas in the five-year period starting fiscal 2024 to over 800,000, as the government seeks to alleviate labor shortages in industries like manufacturing, construction and agriculture

The world has shifted from dire predictions in the 1960s of a population explosion to today’s all-too-optimistic view that large youthful populations are a guarantee of demographic dividends in places like India and Africa, but Japan has always been an outlier.

In in February, the Japanese government announced that the number of babies born in 2023 showed a 5.1% decline. The number of people in the country above the age of 65 is almost 30%.

In another development, Japan’s central bank had raised interest rates for the first time since 2007. Rates rose to a marginal 0.1%, but proof that wages are rising at a decent clip of 4-5% suggests that inflation of about 2%, the central bank’s repeatedly stated aim, may be here to stay.

After the historic loss at the Summer Olympic games against a strong Yugoslav team that routed the barefoot Indians who were ill prepared for a cold rainy 90 minute game against a team that were far better than them,  SA Rahim has to sit and face Bureaucrats at Football Federation of India office.

It is suffice it to say that Anjan Da who is the President of the Federation allows the coach to lay out his strategy.

The coach ‘Rahim Saab’ is given the freedom to go scout for the best players from around India (rather than favour Bengal clubs simply because they love football so much), and train them.

Coach Rahim battles the bureaucrats off the field and puts the ‘star’ players in places and creates history by taking the team into what is today considered the Golden Age of Indian Football. The record wins the team brought us has never been broken!

The single money lesson that this film teaches us is a valuable one. Simply put, be like coach Rahim when it comes to your money life.

The coach takes 100% responsibility. 

‘If I am to be made responsible for the team, then give me time to choose the players and train them in my methods,’ coach Rahim tells the board. 

As Rahim Saab of your own portfolio, you too should have a keen eye for spotting stocks and investment instruments that will work together as a team. Some defenders, and others great forwards. But don’t forget what coach Rahim says to the players: You may be playing in different positions, but you play as one team. Every asset in your portfolio performs differently, and is ranked differently, but together they make your portfolio strong.

The coach takes tough decisions

When it comes to the Asian Games, and politics rears its ugly head, coach Rahim had to make a difficult decision: he had to drop a few players from the team. 

As a smart investor, you cannot cling to stocks that have been your favourite. Your strategy to win must include an ability to let go and re-imagine your assets.

The coach responds to situations.

SA Rahim realises during the game that the Koreans like to play high passes and cover more ground that way. He quickly asks his defenders to move their positions ahead so that the Koreans are not able to get closer to their goal. 

Your investment strategy has to be equally aware of market conditions and operate proactively. To be able to do that, you should take charge of understanding and studying the market at all times. Be better informed!

This film has been shot by someone who truly understands what it means to get up close and personal with the game.

Supply and demand dynamics are the cornerstone of modern economics, shaping markets and influencing prices across industries. Understanding these forces is essential for businesses, consumers, and policymakers alike as they navigate the complexities of market behavior and allocation of resources.

At its core, the law of supply and demand describes the relationship between the availability of a good or service (supply) and the desire of consumers to purchase it (demand). When supply exceeds demand, prices tend to fall as producers compete for customers. Conversely, when demand exceeds supply, prices rise as consumers compete for limited goods or services.

One of the fundamental principles of supply and demand is that as prices rise, the quantity supplied by producers increases, while the quantity demanded by consumers decreases. This inverse relationship between price and quantity is depicted graphically by the supply and demand curves, which intersect at the equilibrium point, where the quantity supplied equals the quantity demanded, and the market clears.

Changes in supply or demand can shift these curves, leading to changes in equilibrium price and quantity. For example, an increase in consumer income might lead to higher demand for luxury goods, shifting the demand curve to the right and increasing prices. Similarly, improvements in technology or changes in input costs could increase supply, driving prices down.

One of the factors influencing supply and demand dynamics is elasticity, which measures how responsive quantity demanded or supplied is to changes in price. Goods with elastic demand or supply are highly responsive to price changes, while those with inelastic demand or supply are less so. Understanding elasticity is crucial for businesses when setting prices and making production decisions.

External factors, such as government policies, natural disasters, or geopolitical events, can also impact supply and demand dynamics. For example, trade tariffs or quotas can restrict imports, reducing supply and driving prices up. Similarly, changes in consumer preferences or technological advancements can shift demand for certain goods or services, affecting market equilibrium.

Supply and demand dynamics play out in various markets, from agricultural commodities to financial assets. In agricultural markets, factors such as weather conditions, crop yields, and government subsidies can influence supply, while changes in population demographics or dietary trends can impact demand. In financial markets, factors like interest rates, inflation, and investor sentiment can drive supply and demand for assets like stocks and bonds.

Understanding supply and demand dynamics is crucial for policymakers seeking to achieve economic stability and growth. Monetary and fiscal policies can influence aggregate demand through changes in interest rates, government spending, and taxation. Similarly, regulations affecting production, trade, or competition can impact supply in various industries.

In conclusion, supply and demand dynamics are fundamental concepts in economics that govern market behavior and prices. The interaction between supply and demand determines equilibrium price and quantity in markets, with changes in either factor leading to adjustments over time. Elasticity, external factors, and government policies all play roles in shaping supply and demand dynamics across industries, highlighting the complexity of market forces and the importance of understanding them for businesses, consumers, and policymakers alike.

By the end of 2026, the first semiconductor chip from the new plant being set up by the Tata Group and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC) in Gujarat’s Dholera, will be ready to roll out, according to Frank Huang, chairman of PSMC.

The central and state governments are together estimated to subsidise up to 70% of the project cost, with the Dholera unit slated to become India’s first commercial semiconductor fab.

But much before the first chips are shipped out of the Dholera plant, Tata has won a deal that can put India in the league of big strategic players. Tata Group firm Tata Electronics is understood to have signed a strategic deal with Tesla to procure semiconductor chips for its worldwide operations.

Chips are the brains of electronic gadgets and are used in everything from missiles to aircraft to washing machines to smartphones to credit cards as well as to run crucial infrastructure such as electricity grids.

This is a proud moment for Tata and an important milestone for India. With chips made by an Indian company powering cars Tesla makes globally, India has come of age. Taiwan, China and South Korea have dominated chip supplies to global manufacturers and India will soon join that league.

Dependence of global manufacturers for chips on a country brings that country strategic power. China, on account of its own manufacturing volume of chips as well as of Taiwan which it vows to capture, has held great power over the rest of the world. As the Western world estranges from China, it is desperately pouring money into chip manufacturing to free itself from the dependence on China.

If a country buys chips from another country, it implies a critical dependence and a strategic handicap because supply shocks can bring a country to a grinding halt. On the contrary, a country that supplies chips to others enjoys a strategic edge.

If India is able to create a sizable capacity in making mature or legacy chips, which don’t require too much innovation, it can not only achieve self-reliance but can also turn into a reliable supplier to bigger countries which would prefer to focus on advanced chips.

While it may take India a long time to manufacture cutting-edge chips, it can soon make a place for itself on the global chip value chain by focusing on legacy chips.

Vishu is a vibrant and auspicious festival celebrated primarily in the South Indian state of Kerala and parts of Tamil Nadu. It marks the beginning of the traditional Malayalam New Year and usually falls in the month of April, typically on or around April 14th each year. The festival holds great significance in Malayali culture, symbolizing renewal, prosperity, and the joy of new beginnings.

The word “Vishu” is derived from the Sanskrit word “Vishuvam,” which means equal. It signifies the equinox and the equal length of day and night that occurs during this time of the year. Vishu is celebrated with much fervor and excitement, bringing families together in joyous gatherings and elaborate rituals.

The celebration of Vishu is steeped in ancient mythology and folklore, reflecting a rich tapestry of cultural and spiritual significance. One popular legend behind the celebration of Vishu is the story of Lord Krishna and the demon King Narakasura.

According to Hindu mythology, Narakasura was a powerful demon who had gained control over the heavens and the earth, causing havoc and tormenting the gods and humans alike. Unable to tolerate his tyranny any longer, the gods sought the help of Lord Krishna to vanquish Narakasura and restore peace.

In a fierce battle that ensued, Lord Krishna emerged victorious, slaying the demon Narakasura and freeing the world from his tyranny. The day of Narakasura’s defeat coincided with the onset of Vishu, marking the triumph of light over darkness and good over evil.

To celebrate this momentous occasion and the dawn of a new era of prosperity and righteousness, people rejoiced by lighting lamps, bursting fireworks, and adorning their homes with flowers and decorations. The tradition of setting up the Vishu Kani, with its symbolic representation of abundance and blessings, also originated from this legend, as a way to commemorate Lord Krishna’s victory and invoke divine blessings for the year ahead.

Another popular myth associated with Vishu revolves around the Hindu god Lord Vishnu, from whom the festival derives its name. According to this legend, on the day of Vishu, Lord Vishnu took on his Matsya (fish) avatar, symbolizing the beginning of creation and the cycle of life.

In Kerala, Vishu is also celebrated as the Malayalam New Year, marking the first day of the Malayalam calendar known as “Medam.” The agricultural significance of Vishu is evident in the abundance of seasonal produce such as fruits and vegetables that are harvested during this time, symbolizing prosperity and fertility.

Preparations for Vishu begin days in advance, with homes being cleaned and decorated to welcome the New Year with freshness and positivity. Intricately designed floral arrangements known as “Vishu Kani” are the centerpiece of the celebrations. These arrangements typically include items such as fresh fruits, vegetables, rice, gold coins, flowers, and a lit lamp, all arranged beautifully in a traditional brass vessel called “uruli.” The Vishu Kani is set up the night before Vishu, and it is the first sight that people behold upon waking up on Vishu morning. It is believed that seeing the Vishu Kani brings good luck and prosperity for the year ahead.

One of the most anticipated aspects of Vishu is the tradition of giving and receiving “Vishukkaineetam,” which are gifts of money given to children, family members, and friends as a symbol of blessings and good fortune. The exchange of Vishukkaineetam is a heartwarming gesture that strengthens bonds and fosters a sense of generosity and goodwill within the community.

Another highlight of Vishu is the sumptuous feast known as the “Vishu Sadya,” which features an elaborate spread of traditional Kerala dishes served on a banana leaf. The Vishu Sadya typically includes delicacies such as rice, sambar, avial, thoran, olan, pachadi, and various payasams (sweet desserts). Sharing the Vishu Sadya with loved ones is a cherished tradition that signifies unity, abundance, and the spirit of togetherness.

Vishu is also a time for indulging in various cultural activities and festivities. Traditional games, music, dance performances, and fireworks add to the celebratory atmosphere, filling the air with joy and merriment. Temples are adorned with colorful decorations, and special prayers and rituals are conducted to seek blessings from the divine for a prosperous year ahead.

Overall, Vishu is much more than just a festival; it is a celebration of life, hope, and gratitude. It reminds people to appreciate the beauty of nature, the importance of family and community, and the blessings bestowed upon them. Through its rich customs and traditions, Vishu continues to uphold the cultural heritage and values of Kerala, spreading happiness and positivity wherever it is celebrated.

Sugar is ubiquitous in modern diets, present in everything from sodas to salad dressings. While it’s often enjoyed for its sweetness, excessive sugar consumption can have detrimental effects on health. 

Firstly, sugar is a major contributor to weight gain and obesity. Consuming sugary foods and beverages can lead to an increase in calorie intake without providing essential nutrients, leading to weight gain over time. Furthermore, excess sugar consumption can contribute to insulin resistance, which is a key factor in the development of type 2 diabetes. 

Moreover, high sugar intake has been linked to various chronic diseases, including heart disease. Excessive sugar consumption can raise blood pressure, increase inflammation, and contribute to unhealthy cholesterol levels, all of which are risk factors for heart disease.

Furthermore, sugar can have negative effects on dental health. Bacteria in the mouth feed on sugar, producing acids that can erode tooth enamel and lead to cavities and gum disease.

Finally, sugar can also have an impact on mental health. While sugar can provide a temporary mood boost, excessive consumption has been linked to an increased risk of depression and anxiety.

Ways to Reduce Sugar Intake:

Read Labels: Start by checking the labels of packaged foods and beverages for added sugars. Ingredients like sucrose, high fructose corn syrup, and dextrose indicate the presence of added sugars.

Choose Whole Foods: Opt for whole foods like fruits, vegetables, lean proteins, and whole grains, which are naturally lower in sugar and higher in essential nutrients.

Drink Water: Replace sugary beverages like soda, energy drinks, and fruit juices with water or unsweetened beverages like herbal tea or sparkling water.

Limit Processed Foods: Processed foods like cookies, cakes, candies, and sweetened cereals are often high in added sugars. Limit your intake of these foods and opt for healthier alternatives.

Sweeten Naturally: Use natural sweeteners like honey, maple syrup, or stevia in moderation as alternatives to refined sugar.

Be Mindful of Portions: Pay attention to portion sizes when consuming foods that contain added sugars. Even small amounts can add up quickly.

Cook at Home: By preparing meals and snacks at home, you have more control over the ingredients and can choose healthier options with less added sugar.

Plan Ahead: Plan your meals and snacks in advance to avoid impulse purchases of sugary snacks and treats.

Be Patient: Gradually reducing your sugar intake can help your taste buds adjust to less sweetness over time.

By being mindful of your sugar intake and making conscious choices to reduce consumption, you can positively impact your health and well-being in the long run.