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With the southwest monsoons inching ahead, rainfall deficit across India has narrowed down to 2% from 32% last week, improving reservoir storage in most parts of the country. Out of 143 reservoirs monitored by the Central Water Commission (CWC), 103 reservoirs have reported more than 80% normal storage so far. It is still less than 50% for as many as 19 reservoirs. As of June 23, seasonal rains have been in the excess to the tune of 32% for north-east, where it seems the worst is yet to be over. According to India Meteorological Department (IMD), isolated heavy rainfall is likely to continue over sub-Himalayan West Bengal and Sikkim, Arunachal Pradesh, Assam, Meghalaya, Nagaland, Manipur, Mizoram and Tripura for the next five days. The region, especially Assam and Meghalaya, have been battling severe floods, with the June rainfall breaking its previous records at several places. Imphal recorded 101mm rain on Thursday, breaching the 100mm rain mark for the second time in over a … [Read more...] about Rainfall Deficit Down to 2% as Monsoon Advances, Reservoir Capacity Improves Across States

Online food delivery platform Zomato Ltd. on Friday said it will acquire Blink Commerce Pvt. Ltd. (formerly known as Grofers) for ₹4,447.48 crore in a share-swap deal as part of its strategy of investing in quick commerce business. The company's board at a meeting held on Friday has approved the acquisition of up to 33,018 equity shares of Blink Commerce Pvt. Ltd. from its shareholders for a total purchase consideration of ₹4,447.48 crore at a price of ₹13.45 lakh per equity share, Zomato said in a regulatory filing. Blink Commerce Pvt. Ltd. (BCPL) runs the online quick commerce service under the Blinkit brand. It was formerly known as Grofers. This transaction will be carried out through issuance and allotment of up to 62.85 crore fully paid-up equity shares of Zomato, having face value of ₹1 each at a price of ₹70.76 per equity share on a preferential basis, it added. The company already holds 1 equity share and 3,248 preference shares presently in BCPL, the filing said. … [Read more...] about Food delivery platform Zomato to acquire Blinkit in ₹4,447-cr. deal

The story so far: The Archaeological Survey of India (ASI) said on Tuesday, May 17, that a sculpture of a lion , which possibly dates back to the Ganga dynasty, was found during excavation for the controversial heritage corridor project around the 12th century Jagannath Temple in Puri, Odisha. This is the third such lion sculpture found during the excavation work. The East Ganga dynasty had ruled Kalinga, as Odisha was called in ancient times, from the early fifth century to the early 15th century. The Odisha government’s ambitious temple corridor project in Puri has become a subject of political controversy between Chief Minister Naveen Pattanaik’s Biju Janata Dal government and the opposition BJP and Congress. Three court proceedings are currently underway in the matter. On May 9, the ASI noted in a report submitted to the Orissa High Court that there was every possibility of archaeological remains at the heritage site being destroyed due to the excavation work for the … [Read more...] about Explained | What is the controversy around Odisha’s Jagannath temple Heritage Corridor Project?

The national executive meeting of the Shiv Sena on Saturday passed six resolutions giving absolute rights to Maharashtra Chief Minister and party president Uddhav Thackeray to take action against the rebels to bring the revolt within party under control. The meeting was called in the wake of Sena MLA Eknath Shinde’s rebellion, which has not only destabilised the Maha Vikas Aghadi (MVA) government in the State but also poses a risk of the Thackerays losing control of the party. The executive meeting was meant to reaffirm Mr. Thackeray’s control on the party organisation as before. It also passed a resolution barring any other individual or group from using the name of late Balasaheb Thackeray, the founder of the Shiv Sena. The party executive however did not remove Mr. Shinde from the ‘leader’ position within the organisation and all rights have been given to Mr. Thackeray to decide on the same. It has written a letter to the Election Commission of India (ECI) informing that the … [Read more...] about Maharashtra political turmoil updates | June 25, 2022