Feature
BRICS bank to complement, not replace global institutions: Putin
St Petersburg: Russian President Vladimir Putin says that the BRICS Bank set up by five countries with a capital of $100 billion will not challenge the existing multilateral institutions.
Putin, who was interacting with a dozen visiting wire service reporters, including from IANS, said the intention behind the bank and the reserve currency pool was not to replace the existing global financial structure but to complement it.
He said that although an institution like the World Trade Organisation had “come to a dead-end”, all the five countries which were setting up the New Development Bank and $100 billion pool had a good relationship with the World Bank and the International Monetary Fund. “They have shown interest in helping to develop Russia and countries,” he said.
The five countries forming BRICS are Brazil, Russia, India, China and South Africa.
The bank will be based in Shanghai and will be headed by K.V. Kamath, the non-executive chairman of ICICI Bank. Kamath has also been the chairman of Indian IT major, Infosys.
When the New Development Bank or BRICS bank was announced, it was deemed to be an alternative to US-dominated World Bank and Fund. The idea to set up the Bank was to encourage larger financial and development cooperation among the five countries.
During his interaction, Putin spoke on a wide range of subjects including the Ukraine crisis, which he said needed a political solution rather than “politics of confrontation”. He said the Ukraine president needed support from the international community so that he is able to keep at bay the opposition by radicals within the country to the Minsk agreement.
The agreement between Russia and Ukraine provides for peaceful solution to the problem of three separatist provinces, with restoration of their rights. Russia is accused by Western countries of fomenting rebellion in the region.
Asked about the heavy weaponry flowing into the separatist areas, Putin said such weapons can be bought by anyone as can be seen from global hotspots. “How did the IS or Al Nusra in Iraq get heavy weaponry?” he asks adding that if the demand exists, people will supply it.
Putin said that the Malaysian Airlines flight MH17 may have been shot down over Ukraine conflict area by a Buk missile last year. He said he had seen reports by his technical analyst which showed that a missile coming from the Ukraine held area had hit the tail of the aircraft.
The US and the European Union have accused Russia of supplying the missile systems to separatist who apparently shot down the aircraft.
When asked if there was a rise in nuclear temperature in the world, Putin said he did not think so because the conflict in Ukraine and other areas were localised events and not of “strategic importance”.
When a Canadian journalist told Putin that his country’s Prime Minister Stephen Harper had taken a strong stand against Russia on Ukraine, saying the country should not be allowed to return to the Group of 8 countries, Putin said that if the United States were to say that Russia should be allowed in, the Canadian prime minister “would change his mind”.
He welcomed US efforts to normalise relations with Cuba, saying that it was a wise thing to do. “It will not aggravate Russia’s relationship with either the US or Cuba,” he said.
The State Scores Extra High on Gaming-Friendly Industry Index
Meghalaya scored 92.85 out of 100 possible points in a Gaming Industry Index and proved to be India’s most gaming-friendly state following its recent profound legislation changes over the field allowing land-based and online gaming, including games of chance, under a licensing regime.
The index by the UK India Business Council (UKIBC) uses a scale of 0 to 100 to measure the level of legalisation on gambling and betting achieved by a state based on the scores over a set of seven different games – lottery, horse racing, betting on sports, poker, rummy, casino and fantasy sports
Starting from February last year, Meghalaya became the third state in India’s northeast to legalise gambling and betting after Sikkim and Nagaland. After consultations with the UKIBC, the state proceeded with the adoption of the Meghalaya Regulation of Gaming Act, 2021 and the nullification of the Meghalaya Prevention of Gambling Act, 1970. Subsequently in December, the Meghalaya Regulation of Gaming Rules, 2021 were notified and came into force.
All for the Tourists
The move to legalise and license various forms of offline and online betting and gambling in Meghalaya is aimed at boosting tourism and creating jobs, and altogether raising taxation revenues for the northeastern state. At the same time, the opportunities to bet and gamble legally will be reserved only for tourists and visitors.
“We came out with a Gaming Act and subsequently framed the Regulation of Gaming Rules, 2021. The government will accordingly issue licenses to operate games of skill and chance, both online and offline,” said James P. K. Sangma, Meghalaya State Law and Taxation Minister speaking in the capital city of Shillong. “But the legalized gambling and gaming will only be for tourists and not residents of Meghalaya,” he continued.
To be allowed to play, tourists and people visiting the state for work or business purposes will have to prove their non-resident status by presenting appropriate documents, in a process similar to a bank KYC (Know Your Customer) procedure.
Meghalaya Reaches Out to a Vast Market
With 140 millions of people in India estimated to bet regularly on sports, and a total of 370 million desi bettors around prominent sporting events, as per data from one of the latest reports by Esse N Videri, Meghalaya is set to reach out and take a piece of a vast market.
Estimates on the financial value of India’s sports betting market, combined across all types of offline channels and online sports and cricket predictions and betting platforms, speak about amounts between $130 and $150 billion (roughly between ₹9.7 and ₹11.5 lakh crore).
Andhra Pradesh, Telangana and Delhi are shown to deliver the highest number of bettors and Meghalaya can count on substantial tourists flow from their betting circles. The sports betting communities of Karnataka, Maharashtra, Uttar Pradesh and Haryana are also not to be underestimated.
Among the sports, cricket is most popular, registering 68 percent of the total bet count analyzed by Esse N Videri. Football takes second position with 11 percent of the bets, followed by betting on FIFA at 7 percent and on eCricket at 5 percent. The last position in the Top 5 of popular sports for betting in India is taken by tennis with 3 percent of the bet count.
Local Citizens will Still have Their Teer Betting
Meghalaya residents will still be permitted to participate in teer betting over arrow-shooting results. Teer is a traditional method of gambling, somewhat similar to a lottery draw, and held under the rules of the Meghalaya Regulation of the Game of Arrow Shooting and the Sale of Teer Tickets Act, 2018.
Teer includes bettors wagering on the number of arrows that reach the target which is placed about 50 meters away from a team of 20 archers positioned in a semicircle.
The archers shoot volleys of arrows at the target for ten minutes, and players place their bets choosing a number between 0 and 99 trying to guess the last two digits of the number of arrows that successfully pierce the target.
If, for example, the number of hits is 256, anyone who has bet on 56 wins an amount eight times bigger than their wager.
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
Cheers and Cheers: Barzilla’s Joyful Ode to Inclusivity and Celebration
Casino Days Reveal Internal Data on Most Popular Smartphones
Meghalaya Reserves Legalized Gambling and Sports Betting for Tourists
IPL 20202 UPDATE: KXIP vs MI IPL Dream11 Team Prediction for Today Match, Update Point Table of all Team.
In a Live debate AAP leader Syed Asad Abbas hurls abuses to BJP spokesperson Nupur Sharma.
‘India’s Most Wanted’ trailer out Arjun Kapoor on hunt of Osama-Bin-Laden
Time to move on: Sonakshi on Shatrughan’s joining Congress
