PM Modi turns emotional after Dehradun woman says, 'I have seen God in you'

Dubai, Apr 26: The Central Bank of the UAE (CBUAE) has instructed financial institutions in the country to search and freeze all bank accounts of Indian billionaire BR Shetty and his family along with those of companies where he has a stake.

The apex bank has also blacklisted several firms associated with Shetty along with their entire senior management.

In an advisory issued last week, CBUAE cited decisions of the Federal Attorney General and asked financial institutions to search and freeze any bank accounts, deposits or investments in the name of Shetty or his family members.

Financial institutions have been directed to stop transfers from these accounts and deny access to deposit boxes.

Currently in India and facing a string of charges, Shetty is the founder of NMC Health.

The heathcare provider was placed into administration by a UK court recently following an application by the Abu Dhabi Commercial Bank (ADCB) which alone has an exposure of $981 million (Dh3.6 billion).

Overall, UAE banks have a combined exposure of more than Dh8bn to NMC which owes money to Oman-based banks and financial institutions as well.

Probing credit facilities
The Central Bank has sought information about credit facilites extended to the Shettys along with details of their safe deposit boxes and the financial transfers they have made till date.

A similar advisory has been issued for NMC Healthcare and NMC Holding, based on the decision of the Head of Plenary Fund Prosecution.

The Central Bank has also blacklisted several companies associated with Shetty. Key staff members of these firms have been similarly blacklisted.

Jan 6: Senior Bharatiya Janata Party leader Subramanian Swamy on Sunday said the country's economy is not showing good signs though Prime Minister Narendra Modi has manifested tremendous leadership skills in fighting terror and in social welfare projects.

The fiscal decisions of the government have not yielded the desired results, the Rajya Sabha MP said here.

"Modi had shown tremendous leadership skill in fighting terror, in several social areas, micro areas like bringing toilets to every village home. But the economy is a complex system...," he said while taking part in a discussion.

While every minister is talking about a 5 trillion dollar economy by 2024, but the current GDP growth has to be multiplied in four years to achieve that, the former Union minister said.

He said, if wages are slashed as a measure to cope with the situation, labor will become cheap but that will also cut down the people's purchasing power triggering dip in demand, closing down factories and rise in unemployment.

"This is one problem for which you really need an economist," he said.

Swamy said in jest, "I think Modi has one problem with me. Not only I am an economist but also a politician."

New Delhi, Feb 9: As the outbreak of novel coronavirus has lead to the death of more than 800 Chinese nationals, aviation regulator DGCA on Saturday said that foreigners who went to China on or after January 15 will not be allowed to enter India.

The DGCA, in its circular to airlines on Saturday, reiterated that all visas issued to Chinese nationals before February 5 have been suspended.

However, the Directorate General of Civil Aviation (DGCA) clarified, "These visa restrictions will not apply to aircrew, who may be Chinese nationals or other foreign nationalities coming from China."

"Foreigners who have been to China on or after January 15, 2020, are not allowed to enter India from any air, land or seaport, including Indo-Nepal, Indo-Bhutan, Indo-Bangladesh or Indo-Myanmar land borders," the DGCA said.

Among Indian airlines, IndiGo and Air India have suspended all of their flights between the two countries. SpiceJet continues to fly on Delhi-Hong Kong route.

On February 1 and 2, Air India conducted two special flights to Chinese city of Wuhan, epicentre of the outbreak, evacuating 647 Indians and seven Maldivians.

Till date, three Indians have tested positive for novel coronavirus.