Daily Bulletin: SC to hear PIL seeking interim protection for customers in PMC Bank scam today; ED summons Praful Patel for probe in money laundering case; day's top stories

PMC bank scam: SC to hear PIL seeking interim protection for customers today

The Supreme Court has agreed to hear on Friday (18 October) an urgent plea seeking directions for interim measures to safeguard the money of customers blocked in the PMC Bank.

The plea on Wednesday for the apex court to step in amid three deaths linked to the crisis in the Punjab and Maharashtra Co-operative(PMC) Bank came even as the bank's administrator met the RBI's top brass including Governor Shaktikanta Das and assured depositors that all efforts will be made to safeguard their interests.

File image of the Supreme Court. PTI

The plea, filed by Delhi-based Bejon Kumar Misra, said the Centre and the RBI should be directed to ensure complete insulation and insurance of the hard-earned deposited money of people in various cooperative banks, including nationalised banks, by enacting an appropriate measure of 100 percent insurance coverage towards the deposited amount.

The petition has also sought quashing of the RBI notification restricting the limit of withdrawal of the deposits.

Pakistan to remain on FATF 'Grey List' till February 2020; formal announcement to be made today

In a major development, the Financial Action Task Force (FATF) on Tuesday decided "in principle" that Pakistan will remain on its grey list till February 2020 and directed the country to take "extra measures" for the "complete elimination" of terror financing and money laundering.

The meeting of the international watchdog reviewed the measures taken by Pakistan to control money laundering and terror financing, and observed that Islamabad will have to take further steps on the two parameters in these four months, reported Dawn.

The formal announcement of these decisions will be made on 18 October.

The country was placed on the Grey List by the watchdog in June 2018 and was given 15 months to complete implementation of a 27-point action plan, failing which it be placed in the Black List.

According to Dawn, the FATF has linked the blacklisting of Pakistan with "unsatisfactory steps" to curb money laundering and terror financing. The watchdog will make its final decision in February 2020.

ED summons NCP leader Praful Patel for probe in money laundering case linked to Iqbal Mirchi today

The ED has summoned senior NCP leader Praful Patel in connection with its money laundering probe linked to alleged illegal assets of late Iqbal Mirchi, an aide of underworld don Dawood Ibrahim, officials said Tuesday.

They said Patel, a former Union minister in the UPA regime, has been asked to depose in Mumbai on 18 October.

The Enforcement Directorate (ED) is expected to record Patel's statement under the Prevention of Money Laundering Act in connection with a deal between a real estate company promoted by Patel and his wife and wife of Mirchi.

He has already been questioned by the ED in another money laundering case linked to the aviation scam.

The ED recently arrested two alleged aides of Mirchi, who died in 2013 in London.

Mirchi is alleged to be the right-hand man of Dawood Ibrahim in drug trafficking and extortion crimes.

Mamata Banerjee to hold rally against privatisation, shutting down of public sector units today

Criticising the saffron party for "undermining democratic values" in the country, West Bengal chief minister said, "Democracy exists in Bengal but it is under threat in several other parts of the country."

The BJP is not talking about job losses or the downward spiral of the Indian economy, all it wants to do is serve own political interests, she alleged.

"A rally will be taken out on 18 October against privatisation and shutting down of public sector units across the country. I will take part in it. On 26 and 27 September, we would conduct protest rallies in the city against privatisation," the TMC chief stated.

The Central government is planning disinvestment of 42 PSUs, out of which many of them are profit-making. The Centre is even planning privatisation of ordnance factories, this will have a disastrous impact on India's defence mechanism and compromise national security, she said.

"I believe protests are important in a democracy. The day protests lose their value, India will stop being India", she said.

All India bank strike on 22 October against PSBs merger

All India Trade Union Congress (AITUC) on Wednesday said it has extended support to the all India bank strike on 22 October, to protest against the government’s decision to merge public sector banks.

“We note that All India Bank Employees Association and Bank Employees Federation of India have jointly given the call for all India bank strike on 22 October, against the recent decision of the government to merge 10 public sector banks into four banks thus, deciding to close down six important nationalised banks,” an AITUC statement said.

The AITUC termed the government’s decision as most unfortunate and totally unwarranted. All the banks who now are facing closures namely Andhra Bank, Allahabad Bank, Syndicate Bank, Corporate Bank, United Bank of India and Oriental Bank of Commerce are well-performing banks and have been greatly contributing for our nation’s economic development in their respective geographical areas.

Facebook CEO Mark Zuckerberg defends political ad policy

In a speech at Georgetown University, Mark Zuckerberg spoke in length about his views on freedom of expression. He stressed on how China is slowly becoming influential enough to control the workings of American companies that do business with them. He also asked whether this was the kind of internet the US wanted. Zuckerberg went on to speak about continuing its political ad policy of not fact-checking content from politicians and said that it would be inappropriate for a tech company to censor public figures.

Amazon to release five-part docu-series, Ted Bundy: Falling for a Killer

Amazon will release a five-part series, Ted Bundy: Falling for a Killer, which will chronicle the infamous serial killer's relationship with girlfriend Elizabeth Kendall. The docu-series will also feature several other female voices, including survivors of Bundy's attacks.