Hyd, JNU were ultra-Left movements with a small section of Jehadis: FM

March 28, 2016

New Delhi, Mar 28: Both the Hyderabad Central University (HCU) and JNU events were “ultra-Left movements” also involving a small section of “jehadis”, Finance Minister Arun Jaitley contended on Sunday.

fm-LIn the case of JNU, the predominant section of those involved in the agitation was “ultra-Left” barring a small section of “jehadis”, who had their faces masked during a demonstration on the campus on Feb 9 in which anti-national slogans were raised, he said.

The name of Dr B R Ambedkar was “unfairly used” in the case of HCU where protests erupted after the suicide by a research scholar Rohith Vemula, Jaitley said during an interaction with PTI journalists here.

He drew satisfaction from the fact that religious and minority groups and their leaders across the country had not participated in the debate set off by the events in the two universities.

“The moderate Left and the Congress had got trapped into what was otherwise a movement of the ultra-Left,” the minister said, adding that the BJP had therefore taken it as an ideological challenge.

The BJP had won the first round of this “ideological debate” in the sense that everybody had to come at least “close to the position we were taking”.

Asked if he expected more rounds in the debate, the BJP leader said that it was not a battle his party had started. “We are not raising the debate to this extent (of further rounds) but if somebody against starts the whole idea, then the debate will certainly carry on.”

When asked if the BJP was reaping political dividends by raising the nationalism debate, Jaitley said, “I am not looking for a dividend. This was an ideological positioning and we have made our point. On this battle I don’t think we can lose.”

Jaitley said they took it as an ideological challenge and “whether for posturing or otherwise, as the core debate proceeded....at least they were pushed into this position (to say Jai Hind instead of Bharat Mata Ki Jai). I am quite happy and satisfied that they were pushed into this position.”

Answering questions, Jaitley saw no contradiction between the government's agenda of development and the debate over nationalism.

“I think there is a section in this country, however small, which does not find this discourse very fascinating. So it wants to divert the issue.

“It is not compulsory in this country to raise a slogan (of Bharat Mata ki Jai). But it became an issue only when somebody said I take objection and I will not raise it,” he said in an apparent reference to a declaration made by Majlis MP Asaduddin Owaisi.

Asked if it was an overkill to slap sedition charges against JNU students union President Kanhaiya Kumar, Jaitley said it was a legal issue and he would not like to get into it.

PTI

"That is a matter of individual culpability. Whether he is technically liable, what sections should he be prosecuted for and whether he should be prosecuted or not. I do not want to prejudice the trial even against him or for that matter anybody else.

"There are slogans being raised that this country will be broken up by 'jung' (war). We will break up this country by jung. And an individual goes and participates in this unlawful assembly where this resolve is being made. So whether he is legally liable or not, is a question which courts will have to look into," he said.

Attacking the Congress, Jaitley said people from mainstream parties should have thought twice before joining an unlawful assembly which is talking of a 'jung' to break this country.

"In Parliament I had said there are two types of people--one who think first and then act and the other who act first and then think. Congress leaders first took the step. They went and joined and preached that this 'break up of this country' slogan is free speech and we have come here to defend this free speech."

The minister contended that the overwhelming majority of this country has disapproved of the very character of the anti-India slogans.

He said he was personally in favour of "radical romancing" in universities in which one says something not very responsible out of extra enthusiasm which after 10 years he realises that it was not the most sensible thing to do.

"You can give a licence for that. But I think having said that somehow to speak in terms of 'desh ki barbadi, desh ke tukde, tukde', I think this crossed all limits," he said.

Comments

TWIST
 - 
Monday, 28 Mar 2016

Cheddi chelas alwz taught to view as opposite..

Abdullah
 - 
Monday, 28 Mar 2016

Better to send him back Britian.
the agent of British now singing again the British tune.

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News Network
June 11,2020

New Delhi, Jun 11: Petrol and diesel prices on Thursday were hiked by 60 paise per litre each - the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 74 per litre from Rs 73.40 while diesel rates were increased to Rs 72.22 a litre from Rs 71.62, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fifth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In five hikes, petrol price has gone up by Rs 2.74 per litre and diesel by Rs 2.83.

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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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News Network
April 1,2020

Prayagraj,  April 1: Seven Indonesian nationals, one person from Kolkata and one from Kerala who had attended the event at Delhi's Nizamuddin Markaz have been put under quarantine, informed SP (City) Prayagraj, Brijesh Kumar Srivastava on Wednesday.

"Seven Indonesian nationals, one person from Kolkata and one from Kerala, were found at Abdullah mosque here. During the investigation, it was found that they had attended the Markaz gathering in Delhi. These people, along with 28 people who came in contact with them, have been quarantined." he said.

"A case has also been registered against them for not informing the police on reaching here," he added.

Earlier, Delhi Health Minister Satyendar Jain had said that the officials are not certain of the accurate number of people who participated in the event but it is being estimated that 1,500-1,700 people had assembled at the Markaz building.

The religious gathering was held at the Markaz building in Nizamuddin between March 13 and March 15.

The total number of active cases rose to 1466 in the country, while 132 people have been cured and discharged after receiving treatment, as of 9 am.

The number of deaths due to the infection also rose to 38, while one person has migrated.

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