Govt rejects demand for PM's reply on demonetisation debate

November 17, 2016

New Delhi, Nov 17: Government today rejected the demand for Prime Minister Narendra Modi's response on the debate on demonetisation and accused the opposition of using it as an excuse to scuttle discussion on the issue in Parliament.

GovtInformation and Broadcasting Minister M Venkaiah Naidu told reporters after Parliament was adjourned for the day, amid protests by opposition demanding Modi's presence, that the reply to the debate would be given by the minister concerned or any other person on behalf of the government as per the rules of the House and precedents.

The opposition disrupted the Rajya Sabha, stalling midway the discussion on demonetisation that started yesterday.

A united opposition's relentless demand for a debate on demonetisation under a rule which entails voting forced the adjournment of the Lok Sabha also for the day as the government refused to accept it.

"Half way through, they realised that by raising such a debate it is going negative on them and boomeranging. Now I am afraid, are they trying to find a way out to come out of this and then stall the debate on one pretext or the other," Naidu said.

Dubbing the uproar by Congress and other opposition parties as an "excuse" to stall a debate, Naidu alleged that there is no rationale, whatsoever, behind it.

The Minister said things will happen as per the rules and procedures of the House and urged that the debate should go on.

"I feel that those who started the debate are now understanding that it is going negative, that is why they are finding excuse for not allowing the discussion.

"They are speaking in double tone and in different voices. They are not coming out openly either for or against. They are in dilemma and that dilemma will continue," he said.

Naidu said the entire country is watching as to who are with the hoarders and with the people with black money and who are with the government and the Prime Minister, who has "taken such a revolutionary step. They have to make a choice".

"Let the discussion take place. Then who will reply in the government. It could be the concerned Minister. The solution will come through the government as per traditions and rules," he said.

Naidu said government is addressing the problems faced by people on demonetisation and any suggestion, if worth considering, will be take up positively.

"Government is open to ideas to improve the system. But if somebody is trying to question this and attribute motives, then people are there to finally come to an assessment and decide. Let every party decide are they in favour of this move or against it, for which they have no answer directly," the minister said.

Comments

c.m bin
 - 
Thursday, 17 Nov 2016

cancel this PM. see korea and build the nation.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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News Network
March 29,2020

Jaipur, Mar 29: A batch of 275 Indians evacuated from coronavirus-hit Iran arrived at the Jodhpur airport on Sunday morning, an official said.

He said a preliminary screening of the passengers was conducted at the airport and thereafter, they were shifted to the Army Wellness Facility set up at the Jodhpur Military Station.

Additional Chief Secretary (Health) Rohit Kumar Singh said of the 275 passengers, there were 133 women and 142 men, including two infants and four children.

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News Network
May 24,2020

Thiruvananthapuram, May 24: Keralites on Sunday celebrated a low-key Eid-ul-Fitr amid the coronavirus lockdown in the state as most of the faithful marked the culmination of the fasting month of Ramzan by offering thanksgiving prayers at home.

The festival is being celebrated across Kerala and Jammu and Kashmir on Sunday, while the rest of the country will celebrate Eid on Monday.

Kerala Chief Minister Pinarayi Vijayan extended Eid-ul-Fitr greetings to all Keralites across the world.

State Governor Arif Mohammed Khan also extended his festival wishes to all the Keralites.

"May we also have the blessing to prevent and eliminate the COVID-19 disease," Khan tweeted.

Vijayan said this year Ramzan is celebrated at a time when the world is going through "an unprecedented crisis and misery" because of pandemic COVID-19.

"Usual celebration during Ramzan is not there anywhere in the world due to the pandemic. Instead of offering prayers at mosques, which is important for Muslims, this time the prayers and the feast is performed in their homes.

Community leaders have taken this important decision to protect the interests of the society" he added.

The chief minister said Eid-ul-Fitr gives out a message of equality, tolerance and repentance.

The state government had earlier announced that the lockdown restrictions in the state onSunday will be relaxed in the view of Eid-ul-Fitr with shops selling essential items remaining open.

The State government had earlier declared that a complete shutdown would be observed in Kerala on Sundays in order to contain the spread of the deadly virus.

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