Finance Minister announces Rs 3 lakh crore collateral free automatic loan for businesses

New Delhi, Jan 16: Chief of Defence Staff (CDS) General Bipin Rawat on Thursday said that he supported a negotiated peace deal between the US and Taliban in Afghanistan.

Gen. Rawat was speaking along with other world leaders at Raisina dialogue organised by India's influential think-tank Observer Research Foundation (ORF).

Arguing that terrorism was going to stay in the world as long as states were going to use it against other states, he said it was important to prevent states from using terrorism as a "proxy war".

"The only way to deal with it was what the US did post 9/11," he said, adding that the war against terror was necessary.

However, now a peace deal with Taliban is required, Gen. Rawat said.

"It must be a negotiated peace deal so that the Taliban stops using terrorism," he added. Hinting that the US should maintain its presence in Afghanistan, the CDS said that though Afghan security forces are now equipped to fight back terror groups in Afghanistan but they still need support.

The newly appointed CDS officially confirmed that India has shifted its stance on Taliban. India has traditionally been opposed to the Pakistan-backed Taliban in Afghanistan. Thousands of Afghans were given refuge in India when they fled the country due to oppression and terrorism of the Taliban regime. India is in alignment with the democratically elected government in Kabul that the Taliban remains supported by Pakistan.

Jan 7: India’s monetary authority allowed banks to offer foreign-currency transactions outside of local market hours, a move aimed at boosting trading volumes at home.

Interbank deals, as well as those with customers in and outside India, can be undertaken by banks or their overseas branches and units at all times, the Reserve Bank of India said in a statement late Monday. It stopped short of saying whether the timing of the onshore over-the-counter market has been extended from the current 9 a.m. to 5 p.m.

The move is in line with recent recommendations to reverse the trend of the partially convertible rupee being traded more abroad than in India. London has overtaken Mumbai to become the top center for trading the rupee, adding to a sense of urgency among local authorities to deepen the onshore market.

Average daily volumes for rupee in the U.K. soared to $46.8 billion in April, a more than fivefold jump from $8.8 billion in 2016, according to a survey from the Bank for International Settlements published in September. That exceeded the $34.5 billion recorded in India.

Analysts say more trading abroad could amplify volatility in the domestic market and reduce the effectiveness of policy actions.

India’s decision comes as the London Stock Exchange Group Plc has started asking market participants if they want the bourse to function fewer hours, signaling it’s open to an argument driven by changing trading patterns and calls for a better work-life balance.

New Delhi, Jun 11: Rajasthan chief minister Ashok Gehlot has obliquely hinted that the opposition Bharatiya Janata Party (BJP) is pulling out all stops to destabilise the Congress-led government by luring some of the ruling party’s members of the legislative assembly (MLAs) with Rs 25 crore each.

He alleged that the BJP’s plan is similar to that of toppling the erstwhile Kamal Nath-led government in Madhya Pradesh (MP) and some of his party lawmakers have been offered Rs 10 crore each in advance of the promised sum of Rs 25 crore.

The CM made these allegations while speaking to media persons late on Wednesday night, when the Congress took its 107 party MLAs and 13 independent lawmakers to a resort located on the outskirts of Jaipur for a meeting ahead of the upcoming Rajya Sabha polls for three seats from the desert state slated to be held on June 19.

The 120 MLAs will be shifted to the resort on Thursday.

“Our MLAs are intelligent, alert, and united. Rajasthan is the only state in the country, where 13 independent MLAs supported our government for neither exchange of any money nor post. However, the condition on which our MLAs left the party for the BJP in MP is not good,” Gehlot said.

Rajasthan government’s chief whip Mahesh Joshi in a complaint to the director-general, anti-corruption bureau (ACB), has alleged attempts to poach Congress MLAs and the independent lawmakers, who are supporting the Gehlot-led government.

“Attempts are being made to destabilise the government in Rajasthan on the lines of Karnataka and MP,” Joshi alleged.

Gehlot said that he would hold another round of meeting with the 107 Congress and 13 independent MLAs on Thursday.

The CM also targeted Prime Minister Narendra Modi, alleging that the Upper House elections were postponed under pressure because the BJP could not poach an adequate number of MLAs in Rajasthan and Gujarat.

He blamed the saffron party for its lack of faith in democracy, as it has ensured the resignation of eight Congress MLAs in Gujarat since March, including three earlier this week.

Mukesh Pareek, BJP’s state spokesperson, refuted the allegations levelled by CM Gehlot against his party and asked the ruling Congress to give evidence of alleged poaching of its and independent lawmakers.

‘The Congress has failed to manage its own house. There is growing resentment in the party’s rank and file over its failed national leadership,” Pareek alleged.