HSBC will buy UK subsidiary of collapsed Silicon Valley Bank
London (AP): The UK Treasury and the Bank of England have "facilitated the sale" of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds (USD 8.1 billion) of deposits.
British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank that failed last week.
"This morning, the government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC," Treasury chief Jeremy Hunt said in a Tweet. "Deposits will be protected, with no taxpayer support. I said yesterday that we would look after our tech sector, and we have worked urgently to deliver that promise."
HSBC said it will acquire Silicon Valley Bank UK Ltd for one pound.
This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC
— Jeremy Hunt (@Jeremy_Hunt) March 13, 2023
Deposits will be protected, with no taxpayer support
I said yesterday that we would look after our tech sector, and we have worked urgently to deliver that promise
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Five teachers suspended for facilitating mass copying during Class 12 exam in Beed
Beed (PTI): Five teachers, who were caught allegedly facilitating large-scale copying during an HSC (Class 12) examination paper at a centre in Maharashtra's Beed district, have been suspended, an official said on Tuesday.
The police had registered a first information report (FIR) against 17 teachers after a drone camera exposed large-scale copying on February 10, the first day of the Class 12 exams conducted by the Maharashtra State Board of Secondary and Higher Secondary Education, at Centre 224 in Chousala.
Drone-mounted surveillance cameras deployed by the authorities captured supervisors in 16 examination halls, not only failing to prevent copying but also allegedly helping students cheat openly.
The official said five teachers from Bhalchandra Vidyalaya in Limbaganesh have been suspended in connection with the malpractice, and 12 from three other schools and junior colleges are under investigation and may face suspension as the probe widens.
After learning about the February 10 incident, Beed Collector Vivek Johnson ordered strict action against those responsible for the lapse.
Accordingly, an FIR was registered against 17 teachers, including the chief conductor of the exam centre, at Neknoor police station and charges under the Maharashtra Universities, Boards and Other Specified Examinations (Prevention of Malpractices) Act and Bharatiya Nyaya Sanhita were invoked.
The Education Department subsequently directed the concerned institutions to suspend the implicated staff.
