Ahead of general election, possibility of communal violence in India: US spymaster

Agencies
January 30, 2019

Washington, Jan 30: There is a strong possibility of communal violence in India if the ruling BJP stresses on Hindu nationalist themes ahead of the general election in May, America's top spymaster told US lawmakers on Tuesday.

The comment on India's upcoming general election is part of the US intelligence community's assessment of worldwide threats in the year 2019 and was presented in the form of a written document to the powerful Senate Select Committee on Intelligence by Dan Coats, Director of National Intelligence.

"Parliamentary elections in India increase the possibility of communal violence if Indian Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) stresses Hindu nationalist themes," Coats told members of the US Senate Select Committee on Intelligence.

Coats and heads of other top American intelligence agencies appeared before the Senate Select Committee on Intelligence to present their worldwide threat assessment. Prominent among them included CIA Director Gina Haspel, who has just returned from a trip to India, FBI Director Christopher Wray and Defense Intelligence Agency Director Robert Ashley.

"BJP policies during Modi's first term have deepened communal tensions in some BJP-governed states, and Hindu nationalist state leaders might view a Hindu-nationalist campaign as a signal to incite low-level violence to animate their supporters," Coats said in his written statement.

"Increasing communal clashes could alienate Indian Muslims and allow Islamist terrorist groups in India to expand their influence," Coats warned ahead of the general election. The five-year term of Prime Minister Narendra Modi ends in May. The entire process of election and formation of the new parliament needs to be completed by May.

Coats in his written statement also warns of a strained India-Pakistan relationship at least till May.

"We judge that cross-border terrorism, firing across the Line of Control (LoC), divisive national elections in India, and Islamabad's perception of its position with the United States relative to India will contribute to strained India-Pakistan relations at least through May 2019, the deadline for the Indian election, and probably beyond," he said.

Despite limited confidence-building measures - such as both countries recommitting in May 2018 to the 2003 ceasefire along the disputed Kashmir border - continued terrorist attacks and cross-border firing in Kashmir have hardened each country's position and reduced their political will to seek rapprochement, he said.

"Political maneuvering resulting from the Indian national elections probably will further constrain near-term opportunities for improving ties," it said.

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SD
 - 
Thursday, 31 Jan 2019

This news will definitley keep the foreign tourits away from visiting India, hurting the already strugling economy

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News Network
June 1,2020

Jun 1: Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained Sino-U.S. relations and boosted demand for the safe-haven metal, with a weaker dollar lending further support.

Spot gold gained 0.8% to $1,739.75 per ounce by 0242 GMT. U.S. gold futures ticked up 0.1% to $1,752.60.

"Concerns about the unrest in the United States at the moment appear to be weighing on market sentiment," said Michael McCarthy, chief strategist at CMC Markets, adding that rising tensions between the world's top two economies provided further support to gold.

Protesters have flooded the streets in the United States over the death of George Floyd in police custody, in a wave of outrage sweeping a politically and racially divided nation.

The closely packed crowds and demonstrators not wearing masks have sparked fears of a resurgence of COVID-19, which has killed more than 101,000 Americans.

In Asia, China's state media and the government of Hong Kong lashed out on Sunday at U.S. President Donald Trump's pledge to end Hong Kong's special status if Beijing imposes new national security laws on the city.

Gold is often used as a safe store of value during times of political and financial uncertainty.

Indicative of sentiment, holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.3% to 1,123.14 tonnes on Friday, a fresh seven-year high.

Further supporting gold's appeal, the dollar index fell 0.4% against its rivals.

Elsewhere, silver jumped 2% to $18.20 per ounce, its highest since Feb. 26, before retreating slightly to trade 1.8% higher at $18.16.

Speculators cut their bullish positions in COMEX gold and increased them in silver contracts in the week to May 26, the U.S. Commodity Futures Trading Commission said on Friday.

Palladium rose 0.7% to $1,958.25 per ounce, while platinum declined 0.3% to $835.56.

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Agencies
February 26,2020

New Delhi, Feb 26: The death toll in northeast Delhi communal violence over the amended citizenship law rose to 20 on Wednesday, according to GTB Hospital authorities.

On Tuesday, the death toll was 13.

"The death toll has risen to 20 today," Medical Superintendent of GTB Hospital, Sunil Kumar, told PTI.

Earlier, at least four bodies were brought to the Guru Teg Bahadur Hospital from the Lok Nayak Jai Prakash Narayan Hospital, a senior official said.

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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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