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The Defence Research and Development Organisation (DRDO) will unveil its indigenously developed short-range quasi-ballistic missile, Pralay, at this year’s Republic Day parade. Designed for the Army and Air Force, Pralay is India’s first ballistic missile dedicated to conventional strikes, adding a new dimension to the country’s missile arsenal. With a range of 400 kilometers, Pralay complements existing systems like the BrahMos and Prahar missiles, enabling standoff strikes across both the Line of Control (LoC) and the Line of Actual Control (LAC). The missile, which features a twin-launcher configuration mounted on a high-mobility Ashok Leyland 12×12 vehicle, has completed development trials and awaits induction following the Defence Ministry’s Acceptance of Necessity. Defence Minister Rajnath Singh recently flagged off the Battlefield Surveillance System ‘Sanjay’, which will also be showcased on Kartavya Path during the Republic Day celebrations. In 2023, the Defence Acquisition Council (DAC) approved the procurement of Pralay tactical ballistic missiles alongside Nirbhay long-range sub-sonic cruise missiles. With ranges of 400 km and 1,000 km, respectively, these systems enhance India’s long-range conventional strike capabilities. A derivative of Nirbhay, featuring an indigenous engine, was successfully flight-tested last year, with Army trials anticipated soon. Officials have also highlighted ongoing discussions about forming a dedicated rocket force under a tri-service framework to bring these advanced missile systems under a unified command. The inclusion of Pralay in the Republic Day parade underscores India’s growing focus on indigenous defense capabilities and its ability to deliver precision strikes with versatile warheads, further strengthening the country’s tactical and strategic deterrence.

The liquidity shortfall in India’s banking system has widened significantly, reaching a staggering ₹3.16 lakh crore as of Thursday, the highest level since at least 2010, according to Bloomberg Economics Index. Economists attribute the deficit to the Reserve Bank of India’s (RBI) interventions in the forex market to stabilize the rupee. The central bank’s dollar sales to protect the rupee have absorbed substantial rupee liquidity, compounding the shortfall. The rupee has faced mounting pressure, particularly since the November US Presidential elections, as markets anticipate inflationary trade policies under Donald Trump, reducing the likelihood of interest rate cuts by the US Federal Reserve. Additional stress has arisen from foreign institutional investor (FII) outflows due to expensive valuations, weak corporate results, and a slowing domestic economy. RBI’s Measures to Address the Deficit In response to the liquidity crunch, economists have called for durable liquidity infusions. The RBI has announced daily variable rate repo (VRR) auctions to inject cash into the system. Starting January 15, these auctions are conducted on all working days, with reversals scheduled for the next working day. On Friday, the RBI announced a ₹2 lakh crore VRR auction for Monday. The central bank also conducted a 14-day VRR auction, receiving bids worth ₹1.63 lakh crore against a notified amount of ₹1.75 lakh crore. The daily VRR auction saw even higher demand, with bids totaling ₹2.22 lakh crore for a notified ₹2 lakh crore. Economists emphasize the importance of sustained liquidity measures to address the widening gap and support the banking system amid ongoing economic pressures.

Late Friday night, terrorists opened fire on an Army camp in Bhatodi village, Billawar, Kathua district, ahead of Republic Day celebrations. The Army retaliated immediately, and while no casualties have been reported, the area has been cordoned off for an intensive search operation. The attack comes amidst heightened security in Jammu and Kashmir to ensure a smooth Republic Day on Sunday. According to IGP VK Birdi, comprehensive multi-layered security measures, including drone surveillance and spotters, have been deployed to safeguard the celebrations, particularly at Bakshi Stadium, the site of the main event in the Kashmir Valley. Birdi confirmed that security teams are closely monitoring suspicious activity and maintaining vigilance on surrendered militants. “We are following strict SOPs and ensuring any suspicious elements are monitored in accordance with the law,” he stated, encouraging citizens to participate in Republic Day festivities in large numbers. He also addressed questions regarding narcotics-related offenses, reassuring that investigations are ongoing, and repeat offenders will face legal consequences. V K Bhiduri, the Divisional Commissioner of Kashmir, reiterated confidence in the arrangements while addressing media at the full dress rehearsal. The incident underscores the challenges of maintaining security in the region, but authorities remain committed to ensuring a safe and successful Republic Day celebration.

Mughal-Era Treasure Unearthed in MP’s Bhind District During Pipeline Digging The accidental clink of a labourer’s spade led to the astonishing discovery of a Mughal-era treasure in Gohad town, Bhind district, Madhya Pradesh, on Thursday. Workers digging for a water pipeline near Kaliyakanth temple in Ward 11 stumbled upon an earthen pot buried four feet underground. The sealed pot contained 113 silver coins, adorned with Urdu and Persian inscriptions. Intrigued by the find, the workers carefully unearthed the pot, which jingled with the unmistakable sound of silver. The coins were taken home by a local resident, Ramkumar Gurjar, but were later retrieved by authorities and handed over to the police. As news of the treasure spread, a crowd gathered at the site, prompting officials to halt the pipeline project temporarily. A JCB was brought in for further excavation, though the search was suspended at dusk. Gohad town, with its historic fort established in 1505 by the Jat Ranas, has been the site of numerous battles over the centuries. A team from the archaeological department in Gwalior is expected to arrive for a thorough investigation into the discovery. This remarkable find has sparked excitement and curiosity about what other treasures might still lie buried in the region’s historic grounds.

Tahawwur Rana, a Canadian national of Pakistani origin, has lost his final legal battle to prevent extradition to India in connection with the 2008 Mumbai terrorist attacks. The US Supreme Court, on January 21, denied Rana’s petition of writ of certiorari after he previously lost in lower and federal courts. Rana is accused of being involved in the 26/11 attacks, which killed 166 people, including six Americans. He is linked to Lashkar-e-Taiba (LeT) terrorist David Coleman Headley, one of the masterminds of the attack. This decision follows a recommendation by US Solicitor General Elizabeth B. Prelogar to reject Rana’s plea, while his counsel, Joshua L. Dratel, argued to accept the writ. With this ruling, Rana is now set to face trial in India for his alleged role in the attacks.

The Maharashtra government is expected to approve a petition by Bollywood superstar Shah Rukh Khan seeking a refund of approximately ₹9 crore, which he claims was an excess payment made to the Mumbai Suburban District (MSD) collector for the land on which his iconic residence, Mannat, stands. Shah Rukh Khan and his wife, Gauri Khan, own Mannat, a sprawling bungalow situated on a 2,446-square-meter land parcel at Bandstand, Bandra West. The land, initially leased by the state government to its original owner, was later purchased by the Khans. However, an ‘unintentional error’ during the calculation of the conversion fee from leased property (Class 2) to full ownership (Class 1) resulted in an overpayment. The Discrepancy In March 2019, the Khans opted for the state government’s policy to convert leased properties into full ownership, paying 25% of the ready reckoner price, amounting to ₹27.50 crore. However, in September 2022, the couple discovered that the calculation of the conversion fee mistakenly considered the value of the bungalow instead of just the land. Following the discovery, Gauri Khan submitted a representation to the collector of MSD, highlighting the error and requesting a refund of the excess amount. The refund amount, approximately ₹9 crore, has since been reviewed and forwarded by the collector to the state government for final approval. Current Status State officials have indicated that the refund is likely to be approved, and once sanctioned, the excess payment will be returned to the Khans. The development underscores the importance of accurate calculations in government transactions, especially in high-value property deals, and highlights the vigilance of property owners in ensuring transparency.

Bhopal: The Economic Offences Wing (EOW) has registered cases related to Sahara’s controversial land deals in Bhopal, Katni, and Jabalpur, uncovering massive financial discrepancies and raising political tensions in Madhya Pradesh. The government and investors reportedly suffered losses amounting to Rs 300 crore due to undervalued sales. In these three cities, 310 acres of land were sold for Rs 90 crore, despite the market value being approximately Rs 900 crore. The undervaluation not only resulted in the government losing Rs 200 crore in potential income tax but also Rs 100 crore in stamp duty revenue for the Registration Department. Adding to the controversy, Sahara reportedly declared the value of 110 acres as Rs 125 crore in the Supreme Court in 2014, but the same land was sold to Sinap Real Estate Private Limited for just Rs 48 crore. The EOW’s investigations may prompt action from SEBI, along with a broader probe into other Sahara-owned lands sold in the state. The cases could also implicate buyers and officials who failed to verify documents during these transactions. Political Uproar and Central Involvement The cases have triggered a political storm, particularly after I-T raids uncovered critical documents at the residence of Rajesh Sharma. Reports suggest that the central government has given a green signal for further investigations. Notably, companies linked to ruling party legislator Sanjay Pathak have been implicated in land purchases, raising the possibility of action against him and his associates. As the investigation unfolds, further skeletons may tumble out of the closet, revealing the extent of the irregularities in the Sahara land deals.

Actors Shreyas Talpade and Alok Nath have been named in a First Information Report (FIR) registered at the Murthal police station in Sonipat district, Haryana. The complaint, filed on January 22, accuses them along with 11 others under Sections 316 (2), 318 (2), and 318 (4) of the Bharatiya Nyaya Sanhita for criminal breach of trust, cheating, and fraudulent property transfer. Details of the Allegations The FIR stems from a complaint filed by Sonipat resident Vipul Antil against the Human Welfare Credit Cooperative Society, which is registered in Indore under the Multi-State Cooperative Society Act, 2002. Antil alleges that the society has been operating fraudulent schemes across multiple states since September 16, 2016. The society reportedly lured investors into fixed deposit (FD) and recurring deposit (RD) schemes, promising high returns and employing a multi-level marketing strategy to recruit more participants. The complainant claims to have suffered financial losses due to the fraudulent activities of the society. Implication of the Actors According to Ajeet Singh, Additional Commissioner of Police (ACP), Murthal, the complainant specifically named Shreyas Talpade and Alok Nath in their statement. “The main allegation is against the society that allegedly duped people of their money. We will investigate the roles, if any, of Shreyas Talpade and Alok Nath in the case,” Singh stated. Professional Backgrounds Shreyas Talpade recently appeared in Emergency, directed by Kangana Ranaut, a political drama set during India’s Emergency period (1975–1977). The film features an ensemble cast, including Milind Soman, Anupam Kher, and others, with a screenplay by Ritesh Shah. Alok Nath, a veteran actor, has had a prolific career spanning over four decades with appearances in more than 300 films. Known for his fatherly roles in Bollywood, Nath remains one of the industry’s most recognizable faces. Next Steps The investigation will determine the extent of the actors’ involvement, if any, in the society’s operations. The case has drawn attention due to the inclusion of high-profile names, adding urgency to the investigation. Further updates are awaited as the police delve deeper into the allegations.

The everyman-versus-the-system trope has produced cinematic gems like Naseeruddin Shah’s A Wednesday (2008). Unfortunately, Hisaab Barabar, starring R Madhavan, falls short of delivering the same impact. Despite Madhavan’s sincere efforts as Radhe Mohan Sharma, a ticket collector with a knack for math, the film stumbles under the weight of a predictable and lackluster screenplay. The premise—a ticket collector uncovering financial corruption in a bank—holds promise but is poorly executed, rendering the film a missed opportunity. The Plot: A Familiar Yet Uninspired Ride Radhe Mohan discovers discrepancies in his bank statements, leading him to suspect a larger scam targeting bank customers. The villainous Micky Mehta, played by Neil Nitin Mukesh, and his accomplice Dayal (Manu Rishi) orchestrate this fraudulent scheme. But when Radhe attempts to expose them, he faces resistance, disbelief, and even loses his job—a predictable and uninspired narrative arc. Adding to the chaos is Poonam Joshi (Kirti Kulhari), a cop with a personal history involving Radhe. Their lack of chemistry, coupled with underwhelming writing, makes their subplot feel unnecessary and devoid of emotional weight. Performances and Execution While Madhavan tries to elevate the film with his earnest performance, even his charm can’t salvage the dull screenplay. Neil Nitin Mukesh as the eccentric banker is over-the-top, and Kirti Kulhari’s character feels underwritten, leaving little room for her talent to shine. The supporting cast, including Rashami Desai and Himanshu Malik, is largely forgettable, with their roles offering little to the story. The Verdict Hisaab Barabar had the potential to be a compelling commentary on financial corruption and the struggles of the common man. However, its predictable plot, uninspired writing, and lack of emotional depth make it a mediocre watch. Bottomline: Despite a novel premise and a dependable lead actor, Hisaab Barabar fails to strike a chord. Stream it on Zee5 if you’re a Madhavan fan, but don’t expect much beyond an average entertainer.

New Delhi: A ruckus during the Joint Parliamentary Committee (JPC) meeting on the Waqf Amendment Bill 2024 on Friday led to the suspension of 10 opposition MPs for a day. The suspended MPs include Kalyan Banerjee, Md. Jawaid, A Raja, Asaduddin Owaisi, Nasir Hussain, Mohibullah, M. Abdullah, Arvind Sawant, Nadimul Haq, and Imran Masood. Opposition Alleges Undemocratic Conduct TMC MP Kalyan Banerjee accused JPC chairman Jagdambika Pal of running the proceedings like a “jamindari” and ignoring opposition voices. Banerjee claimed the opposition’s request to reschedule meetings after January 30 was ignored, accusing the chairman of rushing proceedings for political gain ahead of the Delhi elections. “We are witnessing undeclared Emergency proceedings. The chairman refuses to respect opposition members or allow comprehensive discussions,” Banerjee alleged. Congress MP Nasir Hussain echoed the concerns, criticizing the government for hurrying the process and claiming the JPC had been reduced to a farce. BJP Hits Back at Opposition BJP MP and JPC member Nishikant Dubey accused the opposition of disrupting parliamentary democracy. He alleged that the opposition, particularly Asaduddin Owaisi, objected to the lack of full representation from Jammu and Kashmir and then resorted to unruly behavior. “Despite accommodating their suggestion to reschedule, the opposition created a ruckus during the meeting, misbehaving and acting against parliamentary norms,” Dubey said. History of Tensions in JPC on Waqf Bill This isn’t the first instance of chaos during JPC meetings on the Waqf Amendment Bill. In October, tensions escalated when Kalyan Banerjee allegedly hurled a glass bottle toward chairman Jagdambika Pal during a heated exchange, injuring himself. With both sides trading barbs, the controversy highlights deep divisions over the Waqf Amendment Bill 2024. As the JPC prepares to finalize its report, calls for detailed discussions and transparency continue to clash with accusations of political motivations and disruptions.