Cauvery row: Actors stage protest in Chennai; Rajinikanth asks CSK to wear black band in IPL

The Indian Express
April 8, 2018

New Delhi, Apr 8: As the battle between Karnakata and Tamil Nadu intensifies over the Cauvery issue, actors turned politicians Rajinikanth and Kamal Haasan joined a protest in Chennai, demanding the formation of Cauvery Managment Board (CMB). Actors including Dhanush, Vishal, Surya and music composer Ilayaraja were also present at the protest.

Stating that it is embarrassing to hold Indian Premier League (IPL) matches in Chennai, while the state is grappling with Cauvery row, Rajinikanth said the Chennai Super Kings (CSK) players should wear black badges while playing. He also asked his followers to wear the same when the Chennai team plays.

Calling the setting up of Cauvery Management Board a fair demand, Rajinikanth said that that the Centre should pay it immediate attention. “I’d like to tell the Centre that, what every Tamilan unanimously wants is CBM. If you don’t set up the board at the earliest, you will be subjected to the anger and disappointment of every Tamilan,” the actor said.

He also said people from different walks of life have been protesting across Tamil Nadu for the welfare of poor farmers. “To many, it’s unclear who we are protesting for. We are not protesting for the benefits of rich farmers with hundreds of acres of land. We are doing it for poor farmers whose livelihood depends on the farm produce they make from a piece of land they own,” he said adding that even though Karnataka’s politicians might not understand the agony, the poor farmers of Karnataka will.

On Kamal Haasan’s comments that he will oppose Rajinikanth if he takes up ‘divine politics,’ Rajinikanth said, “He is not my enemy. My enemy is unemployment and poverty.”

While Rajinikanth had earlier tweeted saying Cauvery Management Board was the “only acceptable just solution for us,” Kamal Haasan had accused the Tamil Nadu government of being “subservient” to the Centre rather than upholding the state’s rights on the Cauvery issue. He had also alleged that the fast taken up by AIADM members earlier this week was “farcical.” While it was the Centre’s responsibility to constitute the CMB, the state government “cannot hallucinate that it has fulfilled its duty towards the people who elected them by just filing a contempt petition after the deadline or by holding a farcical one-day hunger strike”, he had said in the statement.

The Tamil film fraternity observed a silent protest demanding the setting up of the Cauvery Management Board and the Cauvery Water Regulation Committee (CWRC). It also opposed the operation of copper smelter plant of the Vedanta group in Tuticorin.

The protest organised by the South Indian Film Artistes Association, popularly known as Nadigar Sangam, saw the participation of members of Tamil Film Producers Council and Film Employees Federation of South India.

Leading actors, movie and music directors and other technicians participated in the protest. Among those present were music directors Illayaraja, Shankar-Ganesh, actors Surya, Vijay, Vishal, Prashanth and others. According to Nadigar Sangam President Nasser, the silent protest is held to convey one message — the constitution of the CMB and the CWRC.

The state has witnessed multiple protests, bandh calls, hunger strikes and demonstrations by various political members and farmers in order to demand immediate action by Centre. DMK leader M K Stalin and AIADMK leader T T V Dinakaran launched a padayatra to safeguard Tamil Nadu’s interest in the Cauvery row.

The latest plan of Stalin, who earlier planned to march from Trichy to Chennai and then enter the city with thousands of partymen and farmers, is to cover the entire delta. While the padayatra launched on Saturday will pass through Thanjavur, Nagapattinam and Tiruvarur districts, another march launched on April 9 will cover Ariyalur and Perambalur.

Hoping that Tamil Nadu gets a favourable ruling from Supreme Court before he completes the march, Satlin said, “If not, this protest march will be stronger in the coming days,” he said, adding that the ruling AIADMK lacks the courage to even issue a statement condemning the BJP-led central government.

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News Network
March 7,2020

New Delhi, Mar 7: No country in the world says everybody is welcome, External Affairs Minister S Jaishankar said on Saturday, hitting out at those criticising India over the Citizenship (Amendment) Act.

Jaishankar criticised the United Nations Human Rights Council (UNHRC) for its criticism on the situation in Jammu and Kashmir, saying its director had been wrong previously too and one should look at the UN body's past record on handling the Kashmir issue.

"We have tried to reduce the number of stateless people through this legislation. That should be appreciated," he said when asked about the CAA at the ET Global Business Summit. "We have done it in a way that we do not create a bigger problem for ourselves."

"Everybody, when they look at citizenship, have a context and has a criterion. Show me a country in the world which says everybody in the world is welcome. Nobody says that," the minister said.

The external affairs minister said moving out of the Regional Comprehensive Economic Partnership (RCEP) was in the interest of India's business.

Asked about the UNHRC director not agreeing with India on the Kashmir issue, Jaishankar said: "UNHRC director has been wrong before.

"UNHRC skirts around cross-border terrorism as if it has nothing to do with country next door. Please understand where they are coming from; look at UNHRC's record how they handled Kashmir issue in past," he added.

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News Network
March 6,2020

New Delhi, Mar 6: Shares of YES Bank and State Bank of India came under huge selling pressure on Friday as developments unfolded regarding SBI picking stake in the private lender. Shares of the lender hit record low of Rs 5.55, plunging 85 per cent, and were trading below its previous low of Rs 8.16 hit on March 9, 2009.

SBI, on the other hand, slumped 11 per cent to Rs 257.35 on the BSE. The benchmark S&P BSE Sensex was trading with a cut of over 3 per cent at 37,251.37 level.

In the past three months, share price of the private lender has plunged 41 per cent, while the state-owned lender has slipped 14 per cent. In comparison, the S&P BSE Sensex has dipped 5.6 per cent till Thursday.

On Thursday, the Reserve Bank of India superseded the board of troubled private sector lender YES Bank and imposed a 30-day moratorium on it “in the absence of a credible revival plan” amid a “serious deterioration” in its financial health.

During the moratorium, which came into effect from 6 pm on Thursday, YES Bank will not be allowed to grant or renew any loans, and “incur any liability”, except for payment towards employees’ salaries, rent, taxes and legal expenses, among others.

This is the first time that a bank of this size will be put under a moratorium by the RBI.

“The financial position of YES Bank had undergone a steady decline “largely due to inability of the bank to raise capital to address potential loan losses and resultant downgrades, triggering invocation of bond covenants by investors, and withdrawal of deposits,” RBI said in a statement.

“After the moratorium, the next step will be to infuse to money and keep the bank afloat. So from shareholders’ point of view, the future is certainly hazy as the capital requirement is huge. The good part, however, is that the RBI has stepped in and depositors don't have to worry,” says Siddharth Purohit, a research analyst at SMC Securities.

Meanwhile, analysts at Nomura believe that placing the Bank under moratorium implies that equity value in the bank would be negligible, and that the chances of private capital participating in future capital raising plan are near zero.

"Any resolution for Yes Bank is more proposed from the perspective of deposit holders and systemic stability, and not from the perspective of Yes Bank equity investors or even perpetual bond holders," they wrote in a note dated March 6.

In another development, SBI’s Board Thursday gave in-principle approval to consider an “investment opportunity” in YES Bank, even as it said “no decision had yet been taken to pick up stake in the bank”.

According to a  report, highly-placed sources indicated a rescue plan involving SBI and Life Insurance Corporation of India (LIC) was being discussed and an announcement in this regard might be made soon.

“While the finer details of the deal are being worked out, it is anticipated that both SBI and LIC together will take a 51 per cent stake in the bank, with a one-year lock-in period,” the report said.

Most analysts believe it is a positive step for the Indian financial sector as the government has tried to avoid a repeat of IL&FS-like crisis.

“The move is a positive step for the financial sector as a whole. By this, the government has tried to avoid a repeat of IL&FS-like crisis and has saved the depositors,” said AK Prabhakar, Head of Research at IDBI Capital. While we know that YES Bank has a huge pile of bad loans, SBI is the only bank that has the capacity to absorb it, he added.

However, the valuation at which YES bank would be taken over remains a cause of concern.

Global brokerage firm JP Morgan Thursday cut its target price for YES Bank on Thursday to Rs 1 per share, taking into account the potential fall in the lender’s net worth due to stressed assets.

“We believe forced bailout investors will likely want the bank to be acquired at near-zero value to account for risks associated with the stress book and likely loss of deposits. We think the bank will need to be recapitalised at nominal equity value and could test dilution of additional tier 1 (AT1) capital. We remain underweight and cut our target price to Rs 1 as we believe net worth is largely impaired,” JP Morgan said in a note.

Global brokerage firm Nomura estimates a need of Rs 25,000-44,000 crore and adjusted for Rs 7,400 crore of current coverage, if the current stress of Rs 65,000-70,000 crore faces 70 per cent loss given default (LGD).

"It implies Rs 18,000-37,000 crore needed for provisioning against the current net worth of Rs 25,700 crore Also, to run as going concern, the bank would require over Rs 20,000 crore of CET-1 capital as well," the note said.

YES Bank has registered slippages of Rs 12,000 crore so far in FY20, while it has placed Rs 30,000 crore of loan assets under the watch list. Its deposits stood at Rs 2.09 trillion on September 30, 2019, while its advances totalled Rs 2.24 trillion. The bank has delayed publishing its December quarter results by a month to March 14.

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Agencies
March 21,2020

The World Health Organisation (WHO) on Saturday launched a Health Alert on WhatsApp where over 1.5 billion users can ask questions and they will be provided with reliable information about new coronavirus 24/7.

This will also serve government decision-makers by providing the latest numbers and situation reports, WhatsApp said in a statement.

To contact the WHO Health Alert, save the number +41 79 893 1892 in phone contacts, and then simply text the word 'Hi' in a WhatsApp message to get started.

The service responds to a series of prompts and will be updated daily with the latest information.

"You can also visit the WhatsApp Coronavirus Information Hub at whatsapp.com/coronavirus," and click on the WHO link on the homepage to open up a chat with the WHO Health Alert if you have WhatsApp installed," said the micro-blogging platform.

The WHO Health Alert will provide official information on topics such as how to protect yourself from infection, travel advice, and debunking new coronavirus myths.

The service is initially launching in English but will be available in all six languages within the coming weeks (English, Arabic, Chinese, French, Russian and Spanish.)

"Digital technology gives us an unprecedented opportunity for vital health information to go viral and spread faster than the pandemic. We are proud to have partners like Facebook and WhatsApp, that are supporting us in reaching billions of people with important health information," said Dr Tedros Adhanom Ghebreyesus, Director-General of the WHO.

The WHO Health Alert is the latest official NGO or government helpline to become available on WhatsApp, joining the Singapore Government, The Israel Ministry of Health, the South Africa Department of Health, and KOMINFO Indonesia.

Earlier this week, WhatsApp, in partnership with the World Health Organization, UNICEF, and UNDP, launched the WhatsApp Coronavirus Information Hub. The hub offers general tips and resources for users around the world to reduce the spread of rumours and connect with accurate health information.

WhatsApp also announced a $1 million grant to the International Fact Checking Network to support fact-checking for the #CoronaVirusFacts Alliance.

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