February 19 : If you want people to think, give them intent, not instruction.

On this day, 19 Feb....

1831 - The York locomotive, the first practical coal-burning locomotive built in America, made its first trial run. It was designed with a vertical boiler by Phineas Davis. It was the first locomotive constructed with coupled wheels and two pairs of drivers. On 27 Sep 1835, while on an excursion for employees, Phineas Davis, was on board the locomotive observing its operation when the train derailed due to defective track, and Davis died in the accident.

1863 - The first pipeline running from an oilfield to a refinery was completed at Oil Creek, Pennsylvania. It was two inches in diameter, running 2.5 miles. Unfortunately, excessive leaks made it impractical to use.

1878 - The phonograph was patented by Thomas A. Edison. His first recording was made reciting “Mary Had a Little Lamb.

1910 - Typhoid Mary (Mary Mallon) is freed from her first periods of forced isolation and goes on to cause several further outbreaks of typhoid in the New York area.

1949 - Mass arrests of communists in India.

1977 - Deep-ocean researchers found an extraordinary oasis of extremophile life. New types of worms, clams, and crabs were seen thriving around geothermal hot water vents. The food-chain of the ecosystem depends upon bacteria oxidizing hydrogen sulfide contained in the volcanic gases that spew out of the hot springs. Thus, the energy source that sustains this deep-ocean ecosystem is not sunlight, but rather the energy from a chemical reaction (chemosynthesis).

2010 - Tiger Woods the world number one golfer talks publicly for the first time since the scandal surrounding his private life erupted last year. During his press meeting, he said "I was unfaithful, I had affairs and I cheated. What I did was unacceptable."

Born

1473 - Nicolaus Copernicus, Polish mathematician, and astronomer.

1670 - Chhatrapati Shivaji Maharaj, the great Maratha leader.

1906 - Madhav Sadashiv Golwalkar, the second Sarsanghchalak of the Rashtriya Swayamsevak Sangh.

RIP

1861 - Rani Rashmoni, a great nationalist, who compelled the British to abolish the tax imposed on fishing in the river, ingeniously blocking the trade and commerce on the part of Ganges.

1915 - Gopal Krishna Gokhale, social reformer, political leader and freedom fighter.

1978 - Pankaj Mallik, famous Bengali music director, and playback singer

You may have known....

Space is not that far away. Space officially begins at the universal marker of the Karman Line. This invisible boundary is 100 km above the Earth. In theory, if you could drive your car upwards, you could be in space in less than the hour.

Economic news

Law enforcement agencies said they will scrutinize 200 shell cos and benami assets as they raided dozens of properties belonging to Nirav Modi and Mehul Choksi.

The exposure of Indian banks in an alleged fraud involving jeweller Nirav Modi, his relatives and associates may touch Rs 20000 crore.

Failure to bank’s to align transaction recording software with the global financial messaging system is a reason behind PNB fraud.

PNB fails to learn lessons from audit past frauds including exaggerated inventory, related party transactions.

PNB fraud will create liquidity problems in gems, jewellery sector.

ICICI consortium appoints Delhi based TR Chadha to conduct a forensic audit of Gitanjali Gems group.

After Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad after swindling Rs 800 crore from various public sector banks, including Allahabad Bank, Bank of India, Union Bank.

GST council in the next meeting, to be held on 27th Feb, set to revamp the return filing process and liberalize rules to make compliance easier.

Debt-laden Aircel will shortly file for the bankruptcy, at the NCLT.

Govt is considering provisions in the Co-Act to make independent directors more accountable.