37 killed in Uttar Pradesh rains in two days
Lucknow, July 28 : At least 37 people have been killed in rain-related incidents in Uttar Pradesh in the past 48-hours since Thursday, an official said on Saturday.
Rains have continued to batter many parts of the state for the third consecutive day on Saturday, the Met said. District authorities have been asked to brace for any eventuality as the Met predicted more rains in the coming days.
According to the State Disaster Management Authority, six persons have been killed in Agra, three each in Muzaffarnagar and Kasganj, four each in Meerut and Mainpuri, two in Bareily and one each in Kanpur rural, Mathura, Ghaziabad, Hapur, Rae Bareli, Jalaun, Jaunpur, Pratapgarh, Bulandshahr, Firozabad and Amethi.
Four deaths were reported late on Friday from Saharanpur amid rescue and relief operations.
Over two dozen people have been injured in the incidents like house collapses, wall cave-ins, lightning and storm. Ten cattle deaths were also reported from Kanpur rural, Muzaffarnagar, Lalitpur and Pratapgarh.
Heavy rains continued to pound major regions in the state, triggering swelling of many rivers. It has been raining overnight in the state capital where Prime Minister Narendra Modi is scheduled to arrive later on Saturday.
The city has been turned into an island of sorts with waterlogging in most parts of the city.
Power outages have been reported from Hariharnagar, Indiranagar, Gomtinagar, Sapru Marg, Aliganj, Sitapur road and Aminabad due to bursting of cables and transformers.
Chief Minister Yogi Adityanath has announced an ex gratia of Rs 4 lakh each to the family of those killed.
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SEBI must name 'big players' profiteering at expense of small traders in F&O trading: Rahul Gandhi
New Delhi, Sep 24: Congress leader Rahul Gandhi on Tuesday said 90 per cent of small investors have lost Rs 1.8 lakh crore in Futures and Option (F&O) trading in three years and asked the SEBI to reveal the names of the "so called big players" profiteering at their expense.
More than 91 per cent, or 73 lakh, individual traders lost money in the F&O segment in FY24 with an average net loss of Rs 1.2 lakh per person, a study conducted by markets regulator Securities and Exchange Board of India (SEBI) revealed on Monday.
Further, 93 per cent of over 1 crore individual F&O traders incurred average losses of about Rs 2 lakh per trader (inclusive of transaction costs) during the three years from FY22 to FY24. The aggregate losses of such traders exceeded Rs 1.8 lakh crore during the period.
Gandhi, who is the leader of the Opposition in the Lok Sabha, said on X, "Uncontrolled F&O trading has grown 45X in 5 years. 90% of small investors have lost ₹1.8 lakh Cr in 3 years."
"SEBI must reveal the names of the so called 'Big Players' making a killing at their expense," the former Congress chief said.
The study said in FY24 alone, individuals incurred about Rs 75,000 crore in net losses.
It found the top 3.5 per cent of loss-makers -- about 4 lakh traders -- faced an average loss of Rs 28 lakh per person over the same period, inclusive of transaction costs.
On the other hand, only 7.2 per cent of individual F&O traders made a profit over the period of three years and only 1 per cent of individual traders managed to earn profits exceeding Rs 1 lakh, after adjusting for transaction costs.
Moreover, the number of retail traders, or individual traders, has almost doubled in two years to about 96 lakh in FY24 from about 51 lakh in FY22.
Although such investors contributed about 30 per cent to the total turnover in FY24, they are a clear majority in number terms, as 99.8 per cent of total traders in the equity F&O segment are individuals.
"The availability of sophisticated trading platforms and lower transaction costs have enabled retail investors to actively trade in options and futures contracts, contributing to the surge in market liquidity," SEBI said.
The regulator said rapid growth in F&O trading activity has highlighted the need for investor education and risk management practices, as a significant proportion of retail traders continued to incur losses in the market.
Uncontrolled F&O trading has grown 45x in 5 years.
— Rahul Gandhi (@RahulGandhi) September 24, 2024
90% of small investors have lost ₹1.8 lakh Cr in 3 years.
SEBI must reveal the names of the so called “Big Players“ making a killing at their expense.
