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Sardar Vallabhbhai Patel is a revered name in Indian politics. A lawyer and a political activist, he played a leading role during the Indian Independence Movement. After independence, he was crucial in the integration of over 500 princely states into the Indian Union. He was deeply influenced by Gandhi’s ideology and principles, having worked very closely with leader. Despite being the choice of the people, on the request of Mahatma Gandhi, Sardar Patel stepped down from the candidacy of Congress President, which ultimately turned out to be the election to choose the first Prime Minister of independent India. He was the first Home Minister of Independent India and his uncompromising efforts towards consolidation of the country earned him the title ‘Iron Man of India’.   One of the most influential personalities to have fought for Independence, Sardar Patel was born in Nadiad, Gujarat, on October 31, 1875. Hailing from a farmer's family, Patel lived a simple life and was kn...
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IL & FS Crisis, lets learn more about it :

What is the crisis? IL&FS has over Rs 91,000 crore in debt and is facing severe liquidity crisis. The default in payment of interest by the company has raised concerns over its financial stability. Since September 12, IL&FS has defaulted in payments of interest more than seven times so far. IL&FS needs immediate capital infusion of Rs 3,000 crore and has also proposed Rs 4,500 crore as rights issue. The Reserve Bank of India (RBI) also met the shareholders of IL&FS on September 28 to discuss the revival and capital infusion plans for the company. At the annual general meeting (AGM) of the company on September 29, shareholders - the State Bank of India (SBI), Life Insurance Company (LIC) and Orix Corporation - agreed to subscribe to the proposed Rs 4,500-crore rights issue. Who owns IL&FS? The LIC owns 25.34 per cent stake while SBI owns 6.42 per cent. Orix Corporation of Japan is also one of the largest shareholders of IL&FS with 23.54 per ...