TO PENALISE RAIN GAMBLING

Rai Bahadur Lala Sita Ram Sahib proposes to introduce a Bill in the next session of the Legislative Council to further amend the Public Gambling Act of 1867. The statement of objects and reasons notes that previous amending Acts have not gone far enough to effectively deal with forms of wagering such as "satta" gambling on opium chests or cotton bales. As a result, gaming based on manipulated digits or vessels remains very rife in several towns of the United Provinces. It is considered to be in the interests of society that such gambling should be suppressed. Rain gambling is another ruinous form of wagering which it is desirable to penalise.

You may find interesting

There was another resounding market crash. The prices early dropped from 5 to 30 points and the sales exceeded 7.5 million dollars but a moderate rally in the afternoon wiped out half the previous declines. The rally was partly due to the recovery of the Chicago wheat pit, where early losses of about 4 cents per bushel were reduced to less than 2 cents.

Trading in the Bombay cotton exchange continued to be dull. The switching up of transactions from Broach April-May to July-August contract was the main feature. Price movements were narrow in the absence of important operations.

SEBI has enlisted the expertise of prominent India-born economists, including Raghuram Rajan, Marti Subramanyam, and Kaushik Basu, to overhaul India's corporate debt market. The advisory committee recommends allowing trading in euro bonds, establishing a repo market, and introducing "debt managers" to provide two-way quotes. The panel also advocates for a more liberal view on short selling to enhance liquidity and suggests bringing private debt placements by unlisted companies under SEBI's jurisdiction.