Anyone who picks up a gun in Kashmir will be finished: Army

Agencies
February 19, 2019

Feb 19: The Pakistan Army and its espionage agency, the Inter-Services Intelligence, were involved in the car bomb attack that left 40 Central Reserve Police Force personnel dead, a top Army official said on Tuesday, also sending out the message that anyone picking up the gun in Kashmir would be eliminated unless he surrenders.

The Jaish-e-Mohammad leadership in Kashmir was eliminated within 100 hours of the February 14 terror attack in Pulwama, General Officer Commanding of Army's Srinagar-based 15 Corps Lt General K J S Dhillon added at a press conference along with IG Kashmir S P Pani and IG CRPF Zulfiqar Hasan.

On Monday, three Jaish terrorists were killed in a 16-hour operation in Pinglan area of south Kashmir's Pulwama district, 12 km from the spot of the February 14 terror attack on a CRPF convoy.

An Army major and four security personnel also lost their lives.

"The Jaish-e-Mohammad is the brainchild of Pakistan Army and it is the Pakistan Army and ISI that controls Jaish-e-Mohammad. The involvement of the Pakistan Army is 100 per cent and there is no doubt in it," Dhillon told reporters.

He also appealed to the parents of Kashmiri youth who have joined the ranks of militants to persuade their sons to surrender or face elimination.

"I would like to tell the parents of Kashmiri youth, especially the mothers... to request their sons, who have joined terrorism, to surrender and return to the mainstream.

"Anyone who has picked the gun in Kashmir will be eliminated, unless he surrenders. This is a message and request to all of them," he said.

Giving details of Monday's operation, he said the three Jaish terrorists killed included Kamran, the self-styled chief operations commander of the outfit in Kashmir valley.

"On specific information the day before (intervening night of Sunday and Monday), we hit this module and I am happy to inform the country that in less than 100 hours of the car bomb attack, we eliminated the JeM leadership in Kashmir," he said.

Security forces were tracking the Jaish's top leadership ever since the February 14 attack for which the group has claimed responsibility, the Army officer said.

"The attack was carried out by JeM and it was being controlled by Pakistan with the support of the ISI and the Pakistan Army. The local top commanders, most of them Pakistanis, who were in charge of controlling, coordinating, fabricating and execution of this operation were the main people of the JeM in the Valley," he said.

Last week's strike, when a suicide bomber drove an explosives laden car into a bus, was a first for Kashmir, he said.

"With this type of intensity, it has never happened before. However, similar incidents have happened in other countries like Syria, Afghanistan and Pakistan.

"Since this modus operandi has now been started by terrorists, we are alive to it... we are keeping all options open to deal with this type of modus operandi in future," he added.

Asked if Gazi Abdul Rashid, one of the Jaish terrorists killed on Monday, had an Afghanistan connection, Dhillon said, "Many Gazis have come and gone. There is nothing new in it... We will handle it, Let any Gazi come."

Referring to infiltration attempts, he said there was not much activity along the Line of Control due to snowfall and terrain conditions over the past month but Pakistan has been pushing in infiltrators from other routes on the Jammu side.

"There has been infiltration on the other routes, that is from the international border sector and south of Jammu in the area of Samba, Hiranagar and Pathankot sector. That infiltration is continuing... Pakistan is carrying out infiltration into Kashmir for the results they want."

Nonetheless, the numbers have reduced in the recent past, Dhillon said.

"... anyone who enters Kashmir Valley will not go back alive," he warned.

According to him, radicalisation of the youth was a concern but efforts directed at reversing the trend had started.

"Inimical elements are involved in the radicalisation of youth of Kashmir but the efforts of government security forces and opinion makers have helped reduce it. I would say it is a work in progress and we will continue our efforts and attempts in a collective manner," he said.

Sending out a message to parents whose children had taken up the gun, he said the government had initiated a "very good surrender policy" so their children could join the mainstream.

The GOC said local recruitment had come down in recent months.

Elaborating, IG Pani said there was a significant dip in the recruitment of local youth in militant ranks due to the elimination of top commanders.

"There has not been much of it in the past three months. There are families who have played a key role and made a lot of effort to bring their sons back. Families and the community have an important role to play in this," Pani said.

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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Agencies
July 30,2020

New Delhi, Jul 30: India witnessed a single-day spike of 52,123 COVID-19 cases as the total cases in the country reached 15,83,792, the Union Ministry of Health and Family Welfare said on Thursday.

The total cases include 5,28,242 active cases and 10,20,582 cured/discharged cases, the Health Ministry added.

A total of 775 deaths were reported in the last 24 hours taking the death toll to 34,968.

Maharashtra continues to be the worst-affected state as it reported 9,211 new COVID-19 cases 298 deaths on Wednesday. The total number of cases is now at 4,00,651 including 2,39,755 recovered cases, 1,46,129 active cases and 14,463 deaths.

The total number of cases in Tamil Nadu reached 2,34,114.

Delhi reported 1,035 COVID-19 cases yesterday, taking the total number of cases in the national capital to 1,32,275.

The total number of COVID-19 samples tested up to July 29 is 1,81,90,382 including 4,46,642 samples tested yesterday, said the Indian Council of Medical Research (ICMR).

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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