Demonstrations turn aggressive as Indian tricolour ripped during PM Modi's UK visit

Agencies
April 20, 2018

London, Apr 20: Some groups protesting against atrocities in India during Prime Minister Narendra Modi's visit here turned violent after a tricolour was torn down from one of the official flagpoles set up for all 53 Commonwealth countries.

Modi, who is in the UK for bilateral talks and the multilateral Commonwealth Heads of Government Meeting (CHOGM), was greeted by protesters as he met his British counterpart Theresa May on Wednesday.

Some of the protesters at Parliament Square turned aggressive after the Indian tricolour was torn down from the flagpole.

"Police are investigating after an Indian flag in Parliament Square was pulled down at 1500 (UK time) on Wednesday, 18 April. The flag has been replaced. There have been no arrests. Enquiries continue," a Metropolitan Police statement said.

The Ministry of External Affairs (MEA) said the matter was taken up with the British authorities, who expressed their regrets and immediately had the torn flag replced with a new one.

"We're deeply anguished with the incident involving our national flag. Matter was taken up strongly with the UK side. They have regretted the incident. The flag was immediately replaced. We expect legal action against the people who were involved in this," MEA spokesperson Raveesh Kuamr said at a press briefing on Thursday.

A UK Foreign and Commonwealth Office (FCO) spokesperson said, "While people have the right to hold peaceful protests, we are disappointed with the action taken by a small minority in Parliament Square and contacted High Commissioner Yashvardhan Kumar Sinha as soon as we were made aware.

"The visit to the UK by Prime Minister Modi has strengthened our relationship with India and we look forward to working even more closely together on a number of important areas."

A senior broadcast journalist from one of the leading Indian media channels covering the protests was caught in a violent scrum with some of the more aggressive pro-Khalistani protesters and Scotland Yard officers on duty had to step in to the rescue. The group is planning to file a complaint with the Metropolitan Police on the incident.

"We have expressed our concerns with the British authorities and they have apologised for the incident. We have been warning against some of these elements out to make trouble and they have assured us of action. The Indian flag has now been replaced," a senior Indian official associated with the PM's visit said.

The pro-Khalistani demonstrators from Sikh Federation UK and demonstrators from the so-called "Minorities Against Modi" group, led by Pakistani-origin peer Lord Ahmed, were among nearly 500 protesters who descended upon Parliament Square. These included groups led by some Kashmiri separatist groups and at one point, some of them had surrounded the Mahatma Gandhi statue at the square with their banners and flags.

Officials involved with the prime ministerial visit to the UK had said that protests and demonstrations are "part and parcel of any democratic society" as long as they remain peaceful. There are now concerns that some of the more aggressive elements hijacked the tone of the protests.

Earlier on Wednesday, flash mob of sari-clad women with dhols set the tone for the pro-Modi crowds opposite 10 Downing Street as the Indian PM arrived for his breakfast meeting with British Prime Minister Theresa May. They were joined by the Friends of India Society International (FISI) group, which spearheaded a crowd of Indian diaspora from across the UK waving banners such as "Chak De India" and "Jai Hind" outside Downing Street and nearby Parliament Square.

"We want to welcome the Indian PM to the UK and show him the diaspora support he enjoys," said one of the members of the gathering.

On the other side, the anti-Modi protesters from Caste Watch UK and South Asia Solidarity group waved banners such as 'Modi, you have blood on your hands' and 'Modi Not Welcome'.

"Hindu nationalism must be curtailed to avert India sliding towards wholesale dictatorship threatening democratic fabric, rule of law and the unity of India," a Caste Watch UK spokesperson said.

They were joined by other protestors carrying images the eight-year-old rape victim from Kathua in Jammu and Kashmir, and Gauri Lankesh, the Indian journalist who was shot at her doorstep last year.

The group also included representatives of several Indian women's groups in the UK, wearing white as part of their silent protest against "atrocities that are taking place in India".

"I am Hindustan, I am ashamed," read their placards alongside banners such as 'Beti Bachao' and 'Politics minus rape'.

Comments

True Indian
 - 
Friday, 20 Apr 2018

The problem is BALATKARI JANWAR PATRY (BJP), Modi and Amit shah style of running the government on Hitler style has already filled the gandu rashtra people with poison in their brains to send Muslims out of India.  This is the real problem.  Gandus want their gandu rashtra at any cost now. Arab Muslims ruled India for 900 years and enriched the country with coffee,  silk etc. Then British came and looted the country.  Then these BJP and RSS are gifted with the divide and rule formula from British.  They are now just following the same old formula to eat up whatever is left in the country.  All this making hindu rashtra etc is a drama. 

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News Network
July 14,2020

Jaipur, Jul 14: In a show of strength, Deputy Chief Minister Sachin Pilot-led Rajasthan Congress camp on Monday released a video showing at least 16 MLAs sitting together.

This comes hours after the Congress held a legislature party meeting. Party leaders said 106 of 122 MLAs attended, a claim contested by the Pilot camp.

The 10-second video was shared late at night on Pilot's official WhatsApp group.

In the video, at least 16 MLAs are seen sitting together in a close circle. Pilot is not seen in the video.

Six other people can be seen in the video but they could not be identified.

Some of the MLAs seen in the video are Indraraj Gurjar, Mukesh Bhakar, Harish Meena.

Tourism Minister Vishvendra Singh tweeted the video with the caption "Family".

Ladnun MLA Mukesh Bhakar tweeted, "...Loyalty in Congress means Ashok Gehlot's slavery. That is not acceptable to us."

Pilot has been upset since he was denied the Rajasthan chief minister's post after the December 2018 assembly elections.

On Sunday, he claimed to have the backing of 30 Congress MLAs and "some independents".

Those close to him disputed Gehlot's claim that his government had a majority, and said this is proven in the assembly and not at the CM's house.

Sources close to him have also ruled out the possibility of Pilot joining the BJP.

In the 200-member Rajasthan Assembly, the Congress has 107 MLAs and the BJP 72. In the past, the ruling party has claimed the support of 13 independents, two MLAs each from the CPM and the Bharatiya Tribal Party, and one from the Rashtriya Lok Dal.

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News Network
July 17,2020

Jul 17: US President Donald Trump has said that he wants to do everything possible to keep peace for the people of India and China, according to his spokesperson

Over the past several weeks, the Trump administration has come out in support of India against China.

“He (Trump) said I love the people of India and I love the people of China and I want to do everything possible to keep the peace for the people,” White House Press Secretary Kayleigh McEnany told reporters at a news conference here on Thursday.

She was responding to a question on Trump’s message to India, which recently had a standoff with China in eastern Ladakh along the Line of Actual Control.

Earlier in the day, White House Economic Advisor Larry Kudlow described India as a great ally, saying President Trump is a great friend of Prime Minister Narendra Modi.

On Wednesday, Secretary of State Mike Pompeo said that India has been a great partner of the US.

“India has been a great partner… They are an important partner of ours. I have a great relationship with my foreign minister counterpart. We talked frequently about a broad range of issues. We talked about the conflict they had along the border with China. We've talked about the risk that emanates from the Chinese telecommunication infrastructure there,” Pompeo told reporters in response to a question.

Travelling in Europe, US National Security Advisor Robert O’Brien told reporters that China has been very aggressive with India.

O’Brien said that India is a democracy and is a great friend of the United States. Prime Minister “Modi and President Trump have a super relationship,” he said.

“In fact, it was the last foreign trip that I took with the president before the COVID-19 crisis hit, was to India, and we had a great reception of the Indian people there. We have a lot in common with them, we speak English, we're democracies. We've got a growing, very strong relationship with India,” O’Brien said.

Welcoming the White House statement, Al Mason, co-chair of the Trump Victory Indian American Finance Committee, said that unlike his predecessor, President Trump has come out openly in support of India.

“Most of the Indian-Americans have observed that every earlier president - be it a Democrat or Republican, like Clinton or Bush Senior or Bush Jr or Obama have been very scared to side with India openly, for fear of hurting China.

“Only President Trump has had the courage to say that… I love India, America respects India… US stands with India - and that also, to over one billion Indians in India at the Namaste Trump rally held in India… and that too… near India’s neighbour China,” Mason said in a statement.

“And he is consistent in his love for India and Indian-Americans,” 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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