Manik Saha gets second term as Tripura chief minister
Agartala, Mar 6: Manik Saha was named as the next chief minister of the northeastern state of Tripura at a meeting of the BJP legislative party held here on Monday.
A spokesperson of the BJP informed reporters after the meeting that the selection was unanimously endorsed by all MLAs of the party.
Earlier, there was speculation that Saha, who was made the CM last year in a brand renewal exercise replacing Biplab Kumar Deb, may make way for Union minister Pratima Bhowmik as the chief minister of the sensitive border state.
The swearing-in of the new chief minister will be held on March 8. Prime Minister Narendra Modi is likely to be present at the event.
In the recently held elections, the BJP won 32 seats of the 60-member Assembly while its ally- Indigenous People's Front of Tripura (IPFT) - won one seat.
Assam Chief Minister and NEDA head Himanta Biswa Darma had visited the state on Sunday to measure the water and held meetings with the Chief Minister and senior party colleagues on the possible formation of the next cabinet.
Party sources said, Sarma also had a meeting with Union Home Minister Amit Shah in Delhi on Sunday over the composition of the cabinet and its leader to ensure a smooth transition.
BJP national president JP Nadda and Chief Ministers of several BJP-ruled states are expected to also join the swearing-in ceremony.
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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.
