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Billionaire Mukesh Ambani richest Indian for ninth year: Forbes

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With $22.7 billion (Rs 151,477 crore) net worth, Reliance Industries Chairman Mukesh Ambani is the richest Indian for the ninth consecutive year, American business magazine Forbes India said on Thursday.

Ambani, 59, who retains the top spot in the annual list of 100 richest Indian tycoons, saw his wealth increase to $22.7 billion from $18.9 billion last year as shares of Reliance Industries rose 21 percent over 12 months, the magazine said in a report.
The oil-to-retail conglomerate launched its 4G phone service Jio early this month, offering free calls and internet data link till December 31.

Dilip Shangavi of drug major Sun Pharmaceutical Industries is the second-richest Indian with $16.9 billion net worth though his personal wealth declined $1.1 billion due to its share price dropping, while London-based Hinduja brothers, with a combined network of $15 billion in 2016 as against $14.8 billion in 2015, are third.

The four siblings – Srichand, Gopichand, Prakash and Ashok – head the multinational group, whose businesses spans trucks and lubricants to banking and cable television.

IT czar Azmi Premji of Wipro slipped to fourth from third with $15-billion, while his flagship IT services company reported six percent decline in net earnings to $304 million in second quarter of this fiscal due to sluggish sakes.

The government’s infrastructure push and housing-for-all policy have turned the fortunes of cement and paint tycoons such as Benu Gopal Bangur, who features at 14 in the top 20 for the first time with $5.9 billion net worth, as shares of his Shree Cement soared.

Like Bangur, Asian Paints non-executive Vice-Chairman Ashwin Dani added $1.1 billion to his wealth to figure at 34 with $3.3-billion net worth.

Though the composition at the top of the list remains unchanged, the combined net worth of the country’s 100 wealthiest increased 10 per cent to $381 billion from $345 billion in 2015.

“In a post-Brexit world, India appears a steady ship with an economy growing at 7 percent-plus. The majority of India’s 100 richest have notched up handsome gains as their companies outperformed the stock market in the past year,” said Forbes Asia’s India Editor Naazneen Karmali.

“This year’s list has seen a rise in the overall wealth of the country’s top 100 billionaires, in line with the movement of the markets,” said Forbes India Editor Sourav Majumdar.

Meanwhile, eight tycoons rejoined the ranks after their companies outperformed the stock market’s 12 percent rise in the past year.

Among them is the country’s richest self-made woman and Biocon chairperson Kiran Mazumdar-Shaw at 65 with $1.83 billion net worth, as her firm’s shares doubled in 12 months.

Six newcomers to the list include serial entrepreneurs and brothers Bhavin and Divyank Turakhia (95, $1.3 billion), who make the ranks after selling their ad tech firm Media.net for $900 million to a consortium of Chinese investors in August.

Acharya Balkrishna (48, $2.5 billion) also makes his debut on the list, thanks to his 97 percent holding in the fast-growing consumer goods outfit Patanjali Ayurved, which he co-founded with yoga guru Baba Ramdev.

Pawan Munjal (29, $3.65 billion), son of Brijmohan Lall Munjal, founder of Hero Group, took over his father’s spot on the list.

The minimum net worth to enter the annual list of the richest Indians was $1.25 billion, up from $1.1 billion in 2015.

Flipkart co-founders Sachin Bansal and Binny Bansal, however, dropped out from the list as their net worth fell below the minimum amount, along with 11 others, including textile tycoon Balkrishan Goenka.

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Delhi Metro ready to resume services after 169 days

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New Delhi, 7 Sep : Delhi Metro is ready to resume its services, which were suspended since 22nd March 2020 due to Corona pandemic, from tomorrow i.e, 7th September 2020 onwards from Yellow Line (Samyapur Badli to HUDA City Centre) in a staggered manner. Over a period of next five days i.e, by 12th September, rest of the Lines will also be made operational with all safety measures in place to check the spread of Covid-19 in the Metro premises which requires everyone to follow a new normal of social distancing, face mask and hand sanitisation.

“On this Monday and Tuesday, only the Yellow line (49 KM with 37 stations consisting of 20 underground and 17 elevated stations) will remain operational for a period of four hours each in the morning (7 AM to 11 AM) and evening (4 PM to 8 PM). Trains will be available with a headway varying from 2’44’’ to 5’28” (at different stretches) with 57 trains performing around 462 trips. The same will be further extended in a graded manner from 9th to 12th September along with other Lines”, said Mr. Anuj Dayal, the Executive Director of Corporate Communications at DMRC.

“The resumption of services with a new normal to prevent the spread of Covid-19 desires public to understand and co-operate with DMRC/CISF personnel on few aspects for a comfortable and safe commuting experience”, a statement released by DMRC said.

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Unlock 4 Guidelines: What’s allowed, what’s not

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Metro Services to resume from September 7

No permission needed for inter/intra-state movement of goods, persons

New Delhi, 29 Aug : The Ministry of Home Affairs on Saturday announced guidelines for ‘Unlock 4’, which will come into effect from September 1. As per the new guidelines, Metro rail will be allowed to operate with effect from September 7 in a graded manner, while schools, colleges and other educational institutes will remain shut for students upto September 30.

Under Unlock 4 guidelines, the Ministry of Housing and Urban Affairs will be issuing Standard Operation Procedure (SOP) for the Metro services to resume.

The Ministry of Home Affairs have decided to allow religious, social, political, entertainment, sports and academic events to take place from September 21, but only outside the containment zone with a limited participation of not more than 100 people. Open air theaters will also be permitted from September 21.

“Such limited gatherings can be held with mandatory wearing of face masks, social distancing, provision for thermal scanning and hand wash or sanitizer,” MHA guidelines for Unlock 4 state.

The statement issued by the Ministry of Home Affairs for Unlock 4 clearly stated that there will be no restriction on inter-State and intra-State movement of persons and goods, and no separate permission/ e-permit will be required for such movements.

In a statement the MHA said, “State/ UT Governments shall not impose any local lockdown (State/ District/ sub-division/City/ village level), outside the containment zones, without prior consultation with the central government.”
For the vulnerable section of the population, the MHA said, “vulnerable persons, i.e., persons above 65 years of age, persons with co-morbidities, pregnant women, and children below the age of 10 years, are advised to stay at home, except for essential requirements and for health purposes.”

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BJP leader Manoj Sinha appointed Lt. Governor of J&K

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New Delhi, 6 Aug : Senior Bharatiya Janata Party (BJP) leader Manoj Sinha was on Thursday appointed the Lieutenant Governor of Jammu and Kashmir, a day after G.C. Murmu in a surprise development resigned from the post exactly a year after the nullification of Article 370 in the erstwhile state, and barely nine months after he took over the reins of the newly created Union Territory.

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