Defectors should be banned from holding public office for 5 years, fighting next poll: Kapil Sibal

New Delhi, Mar 9: Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April.

In New Delhi, petrol price fell by 24 paise intra-day and stood at Rs 70.59 per litre. Diesel in the national capital was retailed at Rs 63.26 per litre on Monday as against Rs 63.51 on Sunday.

The retail price of petrol in Kolkata saw a drop of 23 paise to Rs 73.28 per litre. The diesel price fell by 25 paise in the eastern metropolitan city to retail at Rs 65.59 per litre.

In Mumbai, petrol price was Rs 76.29 per litre as against Rs 76.53 a day earlier. Diesel was retailed at Rs 66.24 per litre, 26 paise lower than on Sunday.

In Chennai, petrol was retailed at Rs 73.33 per litre, 25 paise lower than a day earlier. Diesel price saw a fall of 26 paise to retail at Rs 66.75 per litre in the southern metropolitan.

Global crude oil prices fell by as much as a third following Saudi Arabia's move to start a price war with Russia amid worries over the spread of coronavirus.

Brent crude futures were down 13.29 dollars or 29 per cent at 31.98 dollars a barrel by 04:33 hrs GMT after earlier dropping to 31.02 dollars, their lowest since February 12, 2016.

Brent futures were on track for their biggest daily decline since January 17, 1991 at the start of the first Gulf War.

Kolkata, Jan 1: US-based Bangladeshi author and playwright Sharbari Zohra Ahmed feels that the people of the country of her origin are more alike than different from Indians as they were originally Hindus.

But Bangladeshis now want to forget their Hindu roots, said the author, who was born in Dhaka and moved to the United States when she was just three weeks old.

Ahmed, who is the co-writer of the Season 1 of 'Quantico', a popular American television drama thriller series starring Priyanka Chopra, rues that her identity as a Bengali is getting lost in Bangladesh due to the influence of right-wing religious groups.

"How can Bangladesh deny its Hindu heritage? We were originally Hindus. Islam came later," Ahmed said while speaking to PTI here recently.

"The British exploited us, stole from us and murdered us," she said about undivided India, adding that the colonialists destroyed the thriving Muslin industry in Dhaka.

Ahmed said the question of her belief and identity in Bangladesh, where the state religion is Islam, has prompted her to write her debut novel 'Dust Under Her Feet'.

The British exploitation of India and the country's partition based on religion has also featured in her novel in a big way.

Ahmed calls Winston Churchill, the British prime minister during World War II, a "racist".

"He took the rice from Bengal to feed his soldiers and didn't care when he was told about that.

"During my research, I learnt that two million Bengalis died in the artificial famine that was created by him. When people praise Churchill, it is like praising Hitler to the Jews. He was horrible," she said.

The author said her novel is an effort to tell the readers what actually happened.

"Great Britain owes us three trillion dollars. You have to put in inflation. Yet, they (the British) still have a colonial mentality and white colonisation is on the rise again," Ahmed, who was in the city to promote her novel, said.

The novel is based in Kolkata, then Calcutta, during World War II when American soldiers were coming to the city in large numbers.

The irony was that while these American soldiers were nice to the locals, they used to segregate the so-called "black" soldiers, the novelist said.

"Calcutta was a cosmopolitan and the rest of the world needs to know how the city's people were exploited, its treasures looted, people divided and hatred instilled in them," she said.

"Kolkata was my choice of place for my debut novel since my mother was born here. She witnessed the 'Direct Action Day' when she was a kid and was traumatised. She saw how a Hindu was killed by Muslims near her home in Park Circus area (in the city)," Ahmed said.

Direct Action Day, also known as the Great Calcutta Killings, was a massive communal riot in the city on August 16, 1946 that continued for the next few days.

Thousands of people were killed in the violence that ultimately paved the way for the partition of India.

'Dust Under Her Feet' is set in the Calcutta of the 1940s and Ahmed in her novel examines the inequities wrought by racism and colonialism.

The story is of young and lovely Yasmine Khan, a doyenne of the nightclub scene in Calcutta.

When the US sets up a large army base in the city to fight the Japanese in Burma, Yasmine spots an opportunity.

The nightclub is where Yasmine builds a family of singers, dancers, waifs and strays.

Every night, the smoke-filled club swarms with soldiers eager to watch her girls dance and sing.

Yasmine meets American soldier Lt Edward Lafaver in the club and for all her cynicism, finds herself falling helplessly for a married man who she is sure will never choose her over his wife.

Outside, the city lives in constant fear of Japanese bombardment at night. An attack and a betrayal test Yasmine's strength and sense of control and her relationship with Edward.

Ahmed teaches creative writing in the MFA program in Manhattanville College and is artist-in-residence in Sacred Heart University's graduate film and television programme.

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.