Daily News
Centre Rejects Proposal for International Financial Centre in CHD
Proposal for Chandigarh’s Financial Centre Denied
The Union Ministry of Finance recently rejected a proposal made by Manish Tewari, a local Member of Parliament.

Proposal for Chandigarh’s Financial Centre Denied
The Union Ministry of Finance recently Centre Rejects Proposal for International Financial Centre made by Manish Tewari, a local Member of Parliament. He had suggested creating an International Financial Centre (IFC) in Chandigarh. Tewari based his idea on the successful model of the Gujarat International Finance Tec-City, known as GIFT City.
During the Independence Day speech, the Punjab Governor and Chandigarh’s Administrator, Gulab Chand Kataria, also mentioned this proposal. He hoped to strengthen the region’s economy and boost India’s position as a major financial player.
Strategic Location of Chandigarh
Chandigarh is special. It serves as the shared capital for the states of Punjab and Haryana. It is also very close to Himachal Pradesh. This unique position makes Chandigarh a vital economic hub in North India.
Tewari wrote to Union Finance Minister Nirmala Sitharaman back in December of last year. He highlighted how Chandigarh’s central location could help in economic growth. His vision was to turn Chandigarh into a significant financial centre.
Planning for the Financial Centre
After the proposal was made public, the Union Territory (UT) administration took steps to make it a reality. They started planning the “Chandigarh International Finance-Tec City.” This proposed centre would cover about 153 acres in Industrial Area, Phase 3.
Recently, Deputy Commissioner and Industries Secretary Nishant Kumar Yadav attended a NITI Aayog event. There, he mentioned that preparations were underway to hire a consultant. The consultant would study different sectors that could thrive in the proposed financial centre. They also aimed to assess the regulations and infrastructure needed for this project. Finally, they planned to prepare a detailed project report.
Government’s Decision on the Proposal
However, on Sunday, the Union Ministry made its stance clear. They referred to the Special Economic Zones (SEZ) Act of 2005. This act states that only the central government can approve the setting up of an IFC in an SEZ. The government lays down all the rules for setting up and operating such a centre.
The first entity to receive this approval was GIFT SEZ Ltd in 2011. They got the license for the IFC. However, GIFT City did not start operations until 2015 due to the time taken for finalizing the necessary guidelines for banking and finance.
Concerns About Multiple Financial Centres
The Ministry also explained something important. They mentioned that usually, only one International Financial Centre is set up in each country. This strategy helps in better resource management and operational efficiency.
Former Finance Minister Arun Jaitley, in 2017, expressed concerns about how many IFSCs could be set up in India. He noted that having too many financial centres could impact both efficiency and resource use.
Next Steps for the Chandigarh Initiative
With the union government’s rejection, Tewari responded. He suggested that, before spending money on consultants or planning, the Punjab Governor should have a conversation with the Finance Minister. This conversation should find out if there is any interest in developing another GIFT City.
In addition, Tewari mentioned that as a member of the Parliamentary Standing Committee of Finance, he would review how GIFT City is functioning in Mumbai. This review is scheduled for September 2.
Conclusion
Chandigarh’s dream of becoming an International Financial Centre faces a hurdle. The Union government’s decision emphasizes the challenges of setting up more than one IFC. While Chandigarh has the potential, it needs to navigate the regulatory environment carefully. The community and leaders must remain hopeful. With strategic planning and continued dialogue, perhaps Chandigarh’s dream can eventually become a reality.
Daily News
Amritsar Court Denies Bail to Majithia for Obstructing Vigilance
Background
Bikram Singh Majithia is a former minister in Punjab’s government. He belongs to the Shiromani Akali Dal (SAD), a major political party in the state. On Wednesday, the Additiona

Background
Bikram Singh Majithia, a former minister in Punjab’s government and member of the Shiromani Akali Dal (SAD), is facing serious charges for allegedly obstructing public servants during a raid at his home. On Wednesday, the Amritsar Court Denies Bail to Majithia, as Additional District and Sessions Judge Gurbir Singh rejected his request for anticipatory bail.
The Court Ruling
The court highlighted the seriousness of the charges against Majithia. Judge Gurbir Singh stated that it is essential for Majithia to undergo custodial interrogation. The investigation into the case is still ongoing, and some co-accused individuals have not yet been identified.
Details of the Case
This case arises from an incident that occurred on June 25, when a team from the Punjab Vigilance Bureau raided Majithia’s house. His residence is located at House No. 43, Green Avenue, Amritsar, a city well-known for its historical significance and the Golden Temple, a major pilgrimage site.
During the raid, Lakhbir Singh, the Senior Superintendent of Police (SSP) from the Vigilance team, filed a First Information Report (FIR) against Majithia. The FIR included several serious legal provisions:
- Assaulting a public servant on duty (Section 132)
- Intentionally allowing a person in custody to escape (Section 221)
- Using criminal force against a public servant (Section 351(2))
- Obstructing a public servant from carrying out their duty (Section 126(2))
- Acting with common intention (Section 3(5))
The Incident During the Raid
According to Lakhbir Singh’s complaint, things got heated during the raid. Majithia reportedly became angry when he realized the seriousness of the case against him. He started arguing with the officers and even took videos with his mobile phone, threatening government officials, investigators, and police officers present at the scene.
About 30 to 40 people, including Majithia’s supporters and security staff, were inside the house. The situation quickly escalated when unidentified supporters allegedly interrupted the work of the Vigilance team. The supporters’ interference made it hard to conduct a thorough search of the premises.
Majithia’s Defense
Majithia’s lawyers, Pardeep Saini and PM Zakhmi, argued that the FIR was an act of “political revenge.” They claimed that the current government, led by Chief Minister Bhagwant Mann, holds a grudge against Majithia since he has consistently criticized the government’s actions. They believe that this complaint was filed to keep Majithia behind bars for political reasons.
Majithia’s lawyers highlighted that the FIR was registered more than a month after the incident on June 25. They argued that this delay was a strategy to extend Majithia’s time in custody. Currently, he is already in judicial custody due to a different case alleging that he possesses assets that exceed his known sources of income.
The defense claimed that there are no direct allegations against Majithia regarding the use of force against any public servant. They pointed out that accusations of wrongful restraint and intimidation were made against “unknown persons” after Majithia was taken into custody. They mentioned that nothing needed to be recovered from Majithia and that he had no role in the alleged incident.
Majithia’s Cooperation
Majithia reportedly has shown a willingness to cooperate with the investigation. He has expressed his readiness to join the inquiry if the court directs him to do so. This willingness might reflect his confidence in proving his innocence.
Conclusion
After carefully reviewing all arguments and records, Judge Gurbir Singh decided that Majithia’s involvement in the incident cannot be overlooked. The court believes that his custodial interrogation is necessary due to the nature of the charges against him. Amritsar Court Denies Bail to Majithia as the case continues amidst ongoing discussions about the political climate in Punjab, where issues of corruption and political rivalry remain critical.
As this situation unfolds, it highlights the complexities of politics in Punjab. Leaders frequently find themselves facing legal challenges that reflect ongoing tensions within the state’s governance.
Daily News
Himachal Faces Flooding: Many Affected as Rain Wreaks Havoc
Severe Weather Hits Himachal Pradesh
Himachal Pradesh is facing major flooding problems right now.

Severe Weather Hits Himachal Pradesh
Himachal Faces Flooding as heavy rain continues day after day, creating major problems across the state. The weather has gotten so bad that local authorities are warning people about the dangers.
The Indian Meteorological Department (IMD) has issued multiple alerts. They have given a Red Alert for severe rain coming to Chamba, Kangra, and Mandi. This alert tells people to be very careful during this time. A Yellow Alert is in place for Chamba, Lahaul-Spiti, Kangra, Kullu, and Mandi for August 28, and for Shimla and Mandi on August 29. There is also an Orange Alert for August 30-31 in Mandi, Shimla, and Solan as rain continues to be a threat.
Highway Cut Off Due to Landslides
Because of these heavy rains, major roads have been affected. The Chandigarh-Manali Highway has been closed for traffic. This is due to landslides in Banala that have made the road unsafe. Parts of the highway have even washed away because the Beas River is overflowing.
Kullu Police reported that the highway from Pandoh to Aut in Mandi district has been closed for three days now. Many trucks and other vehicles are stuck, causing trouble for drivers. They cannot deliver goods, especially perishable items like vegetables, which are starting to spoil.
Impact on Local Communities
Kullu Deputy Commissioner Torul S Raveesh shared that some areas in the district are being evacuated. The water levels in rivers are rising quickly, causing fear for local residents. Raveesh explained, “Because of continuous rainfall, our National Highway has been damaged at many points. The water level is very high. I request everyone to avoid unnecessary travel and stay safe.”
She described how the damage to the highway is affecting many people. In places like Bindu Dhank, the road is torn up, and businesses are facing waterlogging issues. This has led to problems for restaurants and shops as well.
The situation has worsened after two days of nonstop rain. Water has started to flood several areas including bus stands and local shops. Roads that connect mining areas are also disrupted.
Drivers Stuck in Difficult Situations
As drivers wait helplessly, their demands for action grow. Some drivers like Gurvinder Singh are frustrated. He said, “I have come from Amritsar and am going to Kullu Manali. It has been four days since I arrived. The condition of the road is very bad. The people are taking Rs 260 as toll tax. No one is giving any answer from the administration. The roads are damaged and under construction. It will take 2-3 days.”
Drivers are worried, especially as their food supplies run low. Another driver, Bablu Thakur, expressed his challenges. He said, “We are stuck here for the last few days. It is very difficult to reach home. We are also facing damage at home, and the rivers are in full spate, and the roads are in very bad condition.”
Thakur also pointed out that assistance from the government has been lacking. He noted, “The administration had made no arrangements for food and accommodation. Some dhaba people are feeding us sometimes. Sometimes, langar people come and give us water too.”
Conclusion and Ongoing Efforts
The heavy rains in Himachal Pradesh have caused many problems. Lives are disrupted, and many people are in danger. Local officials are working hard to keep people safe and warn others. They are trying to help those stuck with supplies and find ways to clear roads.
Everyone is hoping for the rain to stop soon. Safety is the priority right now, and everyone is encouraged to stay indoors if they can. The government is taking steps to manage the situation and support the communities affected.
As the weather remains unpredictable, families and travelers must stay alert. They should listen to local news and follow the guidance of authorities to stay safe from the ongoing flooding risks.
Daily News
US Commends CBI for Shutting Down Major Cybercrime Operation
Introduction
The United States has thanked India’s Central Bureau of Investigation (CBI) for a significant achievement. They worked together to shut down a huge cybercrime operation. This

Introduction
US Commends CBI for Shutting Down a huge cybercrime operation. The United States thanked India’s Central Bureau of Investigation (CBI) for this significant achievement. They worked together to dismantle a network that stole over Rs 350 crore from American citizens since 2023.
The Announcement
The U.S. Embassy made a social media post about this success. They said, “a big week for US-India law enforcement collaboration.” This means that both countries worked closely together to stop this crime.
The post continued, “India’s CBI, in close coordination with the U.S. FBI, dismantled a transnational cybercrime syndicate that defrauded U.S. nationals of nearly USD 40M through tech-support scams, and arrested key figures behind the cyber fraud network.” This shows how both agencies are joining forces to fight against crime that crosses borders.
The embassy expressed deep gratitude to the CBI, stating, “Through shared intelligence and coordinated action, both our agencies are working together to dismantle international networks, prevent future scams, and keep our citizens safe. Thank you for your partnership and support, CBI.”
Busting the Call Center
One of the call centers involved was located in Amritsar. It was named ‘Digikaps The Future of Digital.’ This call center was situated near Khalsa College of Women.
During the raids, officials arrested three main suspects: Jigar Ahmed, Yash Khurana, and Inder Jeet Singh Bali. They were responsible for many of the scams.
Along with the arrests, the CBI seized important evidence. This included:
- Rs 54 lakh in cash
- Eight mobile phones
- Several laptops
- Other digital evidence
According to reports, this gang had been cheating American citizens through fake tech support scams since 2023.
How the Scam Worked
The criminals tricked victims into believing they needed help with their computers and bank accounts. They convinced people to give them remote access.
Once they had access, the fraudsters claimed that the victim’s money was in danger. Then, they persuaded the victims to transfer money to cryptocurrency wallets controlled by the gang.
The CBI reported that this operation managed to steal nearly $40 million, which is about Rs 350 crore. This method of theft through crypto highlights a worrying trend.
Evidence and Operation Details
During the raids in Amritsar, the CBI found a lot of digital evidence. This included:
- 85 hard drives
- 16 laptops
- 44 mobile phones
This evidence shows how big and organized this operation really was.
Operation Chakra-IV
The raids were part of something called Operation Chakra-IV. This operation aims to dismantle organized technology-enabled crime networks. It shows that India is taking cybercrime seriously.
Through Operation Chakra-IV, the CBI is working closely with Interpol and other international law agencies. They are focusing on organized tech-enabled crimes like the one in Amritsar.
A CBI official talked about the operation, saying, “As part of Operation Chakra-IV, the International Operations Division of CBI is rapidly identifying and taking action on the organized technology-enabled crime network in close coordination with Interpol and foreign law enforcement agencies.”
Continued Investigations
During the recent operation, 34 people were caught at the Amritsar call center. Investigators are also following the money to find out more about the cybercrime network.
The officials are committed to tracking the proceeds of these crimes. They are also trying to connect with more international links to prevent future scams.
The Bigger Picture
This successful operation shows that Punjab is involved in global cybercrime activities. The widespread nature of these crimes calls for stronger cybersecurity measures.
More citizens need to be aware of this issue, especially since the scams are growing and becoming more sophisticated. The collaboration between local and international agencies is essential in fighting these issues.
As we can see, the partnership between Indian and American law enforcement is crucial. It helps protect people from becoming victims of fraud. People must stay vigilant and be aware of the tricks that scammers use online.
By understanding these scams better, people can protect their money and personal information. Always remember, if something seems too good to be true, it probably is!
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