Foreign Secretary S Jaishankar may visit Pak in March: Aziz

February 17, 2015

Islamabad, Feb 17: Foreign Secretary S Jaishankar may visit Pakistan in March for talks and all issues including Kashmir will be part of the dialogue, Pakistan Prime Minister's Foreign Affairs Advisor Sartaj Aziz has said.Jaishankar

Aziz, while speaking on a Geo news programme, said it was possible that the Indian Foreign Secretary may visit Islamabad next month.

In an ice-breaking move after a six-month hiatus in Indo-Pak ties, Prime Minister Narendra Modi last week spoke to his Pakistani counterpart Nawaz Sharif after which it was announced that Foreign Secretary Jaishankar will visit Islamabad when he will "push bilateral agenda".|

Using cricket diplomacy, Modi had called leaders of four SAARC nations which, along with India, are participating in the cricket World Cup. He conveyed best wishes to their teams.

Aziz said dialogue with India will be held on all issues and Kashmir will be included in the talks agenda.

Jaishankar's visit to Pakistan will be significant given that India had cancelled Foreign Secretary-level talks in August last year after Pakistan High Commissioner in New Delhi Abdul Basit held consultations with Kashmiri separatists on the eve of the Indo-Pak talks.

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News Network
June 18,2020

New Delhi, Jun 18: The border clash between Indian and Chinese soldiers in Ladakh broke the brittle quiet – and also the sense of security for anxious Chinese nationals in India who fear a backlash with anti-Chinese sentiment spiralling in the country.

With the high altitude violent face-off in eastern Ladakh’s Galwan Valley spurring hashtags such as “Boycott China” and “Teach Lesson to China” and leading to street protests, the undercurrents of tension were evident.

Wary of being identified, some said they had been reassured by their friends but were still apprehensive for themselves and their families.

"They (Chinese families) don''t want to speak to the media. They are not going out and are worried about their security and well being. Their families are also worried back home," Mohammed Saqib, secretary general of the India China Economic & Cultural Council, told PTI.

He added that his Chinese friends in India been calling him since they heard news about Monday night’s clashes in which 20 Indian soldiers were killed -- the worst military confrontation in five decades -- and expressed concern over growing anti-China sentiments.

A Chinese national from Beijing working in Gurgaon for a Chinese mobile firm initially refused to talk, saying he did not want to speak to the media and later shared his thoughts only on condition of anonymity.

"There is talk of border standoff and tensions, but we know Indians are very warm people and that is why I have told my family that all is fine here and they should not worry," he said.

Another Chinese national working in Gurgaon said he and his family are feeling the stress amid the spiralling conflict between India and China, but many friends have been reassuring him.

"They (Chinese in India) are under a lot of stress naturally. Such a conflict puts a lot of stress as they could bear the brunt and the same applies to Indians in China," B R Deepak, professor at the Centre for Chinese and South East Asian Studies of the Jawaharlal Nehru University said.

He said it was unfortunate that the border standoff derailed the commemorative programmes aimed at strengthening ties at a time the two countries were gearing to celebrate 70 years of establishment of diplomatic ties.

Experts also feel the border clash is likely to have a significant negative impact on the economic and people to people ties.

There are scores of Chinese in India working in various Chinese firms and also those who are studying in universities like JNU.

About 3,000 Chinese people, doing business or studying in big cities in India, were stranded in India at the start of the COVID-19 crisis, and about half of them returned to China before the lockdown began on March 25.

The Chinese Embassy in New Delhi announced on May 25 that they will arrange for flights to take back students, tourists and businesspersons to five Chinese cities, including Shanghai and Guangzhou.

"It will impact the psychology of the Chinese here. There are 2,000 Chinese firms in various sectors in India which are going to be impacted," Deepak said.

Future investments from the Chinese side could also be impacted, he said.

Moreover, as far as people-to-people contacts are concerned, the number of Chinese students choosing India as a preferred destination is likely to go down, Deepak said.

Alka Acharya, another China expert, said there are two kinds of impacts of such an incident -- short term and medium term.

Usually after the initial nationalistic reaction in the short term things tend to normalise in the medium term, but with such a border clash happening for the first time in decades clearly the resonance would be much more in both India and China, said Acharya, professor at the Centre for East Asian Studies, School of International Studies, in JNU.

“Due to the impact of the COVID-19 crisis on the economy, whether India can take a hardline in terms of economics towards China, is a tricky question,” she said.

In the immediate context, there may be a dip in economic ties with calls for boycott of Chinese goods and services, Acharya said.

The manner in which this crisis is resolved will affect how ties will be affected in the medium term, she said.

The headlines have added to the anxiety.

A group of ex-armymen gathered near the Chinese embassy to protest the killing of 20 Indian Army personnel in Ladakh’s Galwan Valley. And another group of around 10 protesters belonging to the Swadeshi Jagaran Manch protested near the Teen Murti roundabout in Central Delhi.

The anti-China sentiment prevalent among the common public is also finding a reflection in government policy with sources saying the Department of Telecom (DoT) is set to ask state-owned Bharat Sanchar Nigam Ltd (BSNL) not to use Chinese telecom gear in its 4G upgradation.

Trade bodies like CAIT are also calling for a boycott of Chinese products.

And Chinese handset maker Oppo cancelled the livestream launch of its flagship 5G smartphone in the country amid protests.

Monday night’s clashes between the Chinese and Indian troops in Galwan Valley significantly escalated the already volatile border standoff between the two countries.

The casualties on the Chinese side are not yet known. However, government sources, citing an American intelligence report, claimed the total number of soldiers killed and seriously wounded could be 35.

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News Network
March 29,2020

New Delhi, Mar 29 : Notwithstanding the 21-day coronavirus lockdown, the Reserve Bank of India (RBI) has decided to go ahead with the merger plan of ten state-run banks into four larger bank from April 1. The apex bank has issued four separate releases announcing that the branches of merging banks will operate as of the banks in which these have been amalgamated from next month.

RBI's statement comes after Finance Minister Nirmala Sitharaman's clarification on Thursday that the mega bank consolidation plan was very much on track and would take effect from April 1.

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector.

Bank officers' unions, however, earlier this week wrote to the prime minister seeking to defer the merger schemes of lenders due to the lockdown triggered by coronavirus outbreak.

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India.

Under this, the branches of Oriental Bank of Commerce and United Bank of India will operate as branches of Punjab National Bank from April 1, 2020, and branches of Syndicate Bank as that of Canara Bank, the RBI said in a separate releases.

Allahabad Bank branches will operate as those of Indian Bank while the branches of Andhra Bank and Corporation Bank will function as the branches of Union Bank of India from the beginning of next fiscal year 2020-21, the RBI said.

"The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India... The scheme comes into force on the 1st day of April 2020," RBI said.

Customers, including depositors of merging banks will be treated as customers of the banks in which these banks have been merged with effect from April 1, 2020, the RBI noted.

Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country.

In a letter written to the Prime Minister on March 25, the All India Bank Officers'' Confederation (AIBOC) said, "The finance minister yesterday announced a slew of measures in view of the deleterious effect of the contagion. We are also expecting an extension of closing related activities and the revision of the closing date itself from March 31 to June 30, which is the need of the hour."

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July 1,2020

Jul 1: Gold prices in India hit an all-time high on Wednesday, tracking a global rally, as surging coronavirus cases in many countries raised the metal's safe-haven appeal.

Local gold futures hit an all-time high of Rs 48,871 ($646.66) per 10 grams in early trade, taking their gains to 25% in 2020 so far. The contract had gained nearly 25% in 2019.

However, this dampened the retail demand for gold in India, the world's second-largest consumer of the precious metal.

"Retail demand is negligible. Buyers are postponing purchases anticipating a correction in prices," said a Mumbai-based bank dealer with a bullion importing bank.

In thin trade, dealers were offering a discount of up to $22 an ounce over official domestic prices on Wednesday afternoon, up from the last week's $18. The domestic price includes a 12.5% import tax and 3% sales tax.

The country's gold imports in May plunged 99% from a year earlier as international air travel was banned and jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus.

In overseas market, spot gold firmed near an eight-year peak on Wednesday, as a spike in coronavirus cases in the United and States and many other countries has cast a shadow on hopes for a quicker global economic recovery, driving inflows into safe-haven assets.

According to a latest Reuters tally, the coronavirus has infected more than 10.48 million people worldwide so far.

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