‘1st time in Independent India': US on 'affecting status' of Muslims with CAA, NRC

News Network
December 27, 2019

Washington, Dec 27: The amended Citizenship law along with a National Register of Citizens (NRC) being planned by the Narendra Modi government "may affect the status" of Muslim minority in India, a report by the Congressional Research Service (CRS) has said.

The December 18 report also said that for the first time in independent India's history, a religious criterion has been added to the country's naturalization process.

The CRS is an independent research wing of the US Congress which prepares reports periodically on issues of domestic and global importance for the lawmakers to take informed decision. These are not considered as official reports of the US Congress.

"In tandem with a National Register of Citizens (NRC) planned by the federal government, the CAA (Citizenship Amendment Act) may affect the status of India's large Muslim minority of roughly 200 million," said the CRS in its first ever report on the amended Citizenship law.

According to the Citizenship (Amendment) Act, non-Muslim refugees who came to India till December 31, 2014, to escape religious persecution in Pakistan, Bangladesh and Afghanistan will be given Indian citizenship.

Since both houses of Parliament approved amendments to the citizenship law earlier this month, protests - sometimes violent - have taken place across the country during which many protesters have died, especially in Uttar Pradesh and Karnataka.

"India's Citizenship Act of 1955 prohibited illegal immigrants from becoming citizens. Among numerous amendments to the act since 1955, none contained a religious aspect," the CRS said in its two-page report.

The changes sparked significant controversy, including large-scale and sometimes violent protests. Opponents of the CAA warn that Prime Minister Narendra Modi and his Bharatiya Janata Party (BJP) are pursuing a Hindu majoritarian, anti-Muslim agenda that threatens India's status as an officially secular republic and violates international human rights norms, it said.

The CRS claims that the amendment's key provisions allowing immigrants of six religions from three countries a path to citizenship while excluding Muslims may violate certain Articles of the Indian Constitution, in particular Articles 14 and 15.

The Citizenship (Amendment) Act was immediately challenged in the Supreme Court by scores of petitioners, but the court has refused to issue a stay on implementation and is deferring hearing petitions until January 22, it notes, adding that the government argues that the three specified countries have a state religion -- Islam -- resulting in persecution of religious minorities.

"Proponents say that Muslims do not face persecution in Pakistan, Bangladesh, or Afghanistan, and that the CAA is constitutional because it addresses migrants rather than Indian citizens," it said.

"Yet it is not clear why migrants from other neighbouring countries with state (or favoured) religions, such as Sri Lanka (where Buddhism is the official religion and Tamil Hindus face persecution) and Burma (where Buddhism enjoys primacy and Rohingya Muslims are persecuted), are excluded from a path to citizenship. In addition, oppressed Muslim minority communities such as Pakistan's Ahmadis and Shias enjoy no protection under the CAA," the CRS said.

"The New Delhi government maintains that the NRC update is a fair and non-discriminatory process driven by the Supreme Court that does not impose a religious test or render any persons 'stateless'," it said adding that the United Nations, the US Commission for International Religious Freedom, and independent human rights groups have expressed concerns about NRC.

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News Network
May 28,2020

May 28: Boeing is cutting more than 12,000 jobs through layoffs and buyouts as the coronavirus pandemic seizes the travel industry, and more cuts are coming.

One of the nation's biggest manufacturers will lay off 6,770 U.S. employees this week, and another 5,520 workers are taking buyout offers to leave voluntarily in the coming wee

Air travel within the U.S. tumbled 96% by mid-April, to fewer than 100,000 people on some days. It has recovered slightly. The Transportation Security Administration said it screened 264,843 people at airports on Tuesday, a drop of 89% compared with the same Tuesday a year ago.

Boeing had said it would cut 10% of a work force that numbered about 160,000. A Boeing spokesperson said Wednesday's actions represent the largest number of job cuts, but several thousand additional jobs will be eliminated in the next few months.

The layoffs are expected to be concentrated in the Seattle area, home to Boeing's commercial-airplanes business. The defense and space division is stable and will help blunt the impact of the decline in air travel and demand for passenger jets, the company said.

Boeing said additional job cuts will be made in international locations, but it did not specify numbers.

"The COVID-19 pandemic's devastating impact on the airline industry means a deep cut in the number of commercial jets and services our customers will need over the next few years, which in turn means fewer jobs on our lines and in our offices," CEO David Calhoun said Wednesday in a memo to employees.

Calhoun said the company faces the challenges of keeping employees safe and working with suppliers and airlines "to assure the traveling public that it can fly safe from infection."

Calhoun warned that Boeing will have to adjust business plans constantly because the pandemic makes it hard to predict the impact on the company's business.

Boeing's crisis began with two crashes of its 737 Max, which led regulators around the world to ground the jetliner last year. The company's problems have deepened with the coronavirus, which has cut global air traffic by up to 90% and caused airlines to postpone or cancel orders and deliveries for new planes.

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Agencies
June 2,2020

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

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News Network
March 9,2020

Mumbai, Mar 9: India's Yes Bank will not be merged with State Bank of India, which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday.

"There is absolutely no question of a merger," Prashant Kumar, the administrator, told the CNBC TV18 channel.

The Reserve Bank of India (RBI) on Thursday took control of Yes Bank, after the lender - which is laden with bad debts - failed to raise the capital it needs to stay above mandated regulatory requirements.

Placing Yes Bank under a 30-day moratorium, the central bank imposed limits on withdrawals to protect depositors and said it would work on a revival plan. The move spooked depositors, who rushed to withdraw funds from the bank.

Kumar, a former finance chief at SBI, assured depositors their money was safe and that the moratorium on Yes Bank might be lifted much before the deadline on April 3 and normal banking operations might resume as early as Friday.

He also mentioned that the withdrawal limit of Yes Bank may be removed by March 15, 2020.

SBI Chairman Rajnish Kumar said on Saturday the state-run bank would need to invest up to 24.5 billion rupees ($331 million) to buy a 49% stake in Yes Bank as part of the initial phase of the rescue deal, adding that the survival of troubled lender was a "must".

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