Indian public sector banks had 'worst phase' under Manmohan, Rajan: Sitharaman

Agencies
October 16, 2019

New York, Oct 16: Finance minister Nirmala Sitharaman has said that the Indian public sector banks had the "worst phase" under the combination of former Prime Minister Manmohan Singh and Reserve Bank of India (RBI) governor Raghuram Rajan.

Delivering a lecture at the prestigious Columbia University's School of International and Public Affairs in New York on Tuesday, Sitharaman said that giving all the public sector banks a “lifeline” is today her primary duty.

"I'm taking a minute to respond … I do respect Raghuram Rajan as a great scholar who chose to be in the central bank in India at a time when the Indian economy was all buoyant,” Sitharaman said during the lecture organised by the Deepak and Neera Raj Centre on Indian Economic Policies of the Columbia University.

Asked about Rajan's comments during a recent lecture at Brown University in which he had apparently mentioned that in its first term, the Narendra Modi government had not done better on the economy because the government was extremely centralised and the leadership does not appear to have a consistent articulated vision on how to achieve economic growth, the minister said instead there were major issues with bank loans during Rajan's tenure as the central bank head.

"It was in Rajan's time as governor of the Reserve Bank that loans were given just based on phone calls from crony leaders and public sector banks in India till today are depending on the government's equity infusion to get out of that mire," she said.

"Dr Singh was the Prime Minister and I'm sure Dr Rajan will agree that Dr Singh would have had a ‘consistent articulated vision' for India,” she said amid laughter from the audience.

"With due respect, I'm not making fun of anybody but I certainly want to put this forward for a comment which has come like this. I have no reason to doubt that Rajan feels for every word of what he is saying. And I'm here today, giving him his due respect, but also placing the fact before you that Indian public sector banks did not have a worst phase than when the combination of Singh and Rajan, as the Prime Minister and the governor of Reserve Bank, had. At that time, none of us knew about it,” she said.

Sitharaman said while she is grateful that Rajan did an asset quality review, but people should know what makes the banks ailing today.

"I am grateful that Rajan did an asset quality review but I'm sorry, can all of us put together also think of asking what ails our banks today. Where has it been inherited from,” she said.

The event was also attended by former Niti Aayog vice-chairman Arvind Panagariya, professor and eminent economist Jagdish Bhagwati and India's Consul General in New York, Sandeep Chakravorty.

Sitharaman said: "While economists can take a view of what prevails today or prevailed years ago, but I will also want answers for the time when Rajan was in the Governor's post speaking about the Indian banks, for which today to give a lifeline is the primary duty of the finance minister of India. And the lifeline-kind of an emergency has not come overnight”.

Responding to the question, Sitharaman further pointed out that if there is a feeling that there's been a centralised leadership now, "I'd like to say that very democratised leadership led to a whole lot of corruption. Very democratised leadership. The Prime Minister, after all is the first among equals in any cabinet".

"You need to have a country as diverse as India with an effective leadership. A rather too democratic leadership, which probably will have the approval of quite a lot of liberals, I'm afraid, left behind such a nasty stink of corruption, which we are cleaning up even today," she said.

Comments

Haha....LOL

muslims are very very happy...god give them wisdom...Alhamdullilla

only you third rated people are in trouble....one day your child will spit on your face to choosing such a nalayak PM for futur india...

 

you will never come back from the business...you can sell your family to NAMO RSS orginazition..we all know what they do!!

 

so much poison in heart towards muslim will kill you one day like cancer...

 

look at all muslim country most are destroyed by america but still they live happly...

 

once muslim get world power we will treat all people equal and work for huminaty...

 

Dont take tension...LOL

 

 

 

 

Namo Again
 - 
Wednesday, 16 Oct 2019

Blaming other not a solution always. But still I support Modi ji. Mine business is in loss, but i am satisfied because muslims lost more .Because if I lost one eye, muslims will loss both eyes. 

Sandesh Shetty
 - 
Wednesday, 16 Oct 2019

Such a shameless fellow. 

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Agencies
January 8,2020

New Delhi, Jan 8: Jawaharlal Nehru University Students Union (JNUSU) President Aishe Ghosh has filed a complaint over the violence that took place at the varsity campus on Sunday.

"I am filing this complaint for the incident in which a mob conspired and acted with common intention to assault, intimidate and attempt to murder me, and request you to register an FIR and apprehend culprits at the earliest," the complaint read.

She said that on January 5, in the afternoon, she received information from students in the campus that some students affiliated to ABVP along with other unidentified men and women had gathered with weapons like rods, sledgehammers and lathis near Ganga Bus Stop.

"I along with Nikhil Mathew (MA Labour Studies) who was also present there, were surrounded by a group of persons of that mob most of whom were wearing masks. The mob of 20-30 persons dragged me behind a car standing near the 24*7 and surrounded me and despite my pleading did not let me go and attacked me with rods while I had fallen down. I remember that one of the people was of medium height wearing a brownish-red sweatshirt with UCLA written on it. I saw his face as he was facing me and did not have a mask on and can identify him if I see him," Ghosh wrote in her complaint.

"I was attacked by the above-mentioned persons collectively and was hit on the head multiple times with iron rods. I fell to the ground and my head started bleeding, and some of them kicked me and hit me with the rod on my hand and rest of the body including my head, chest and back."

"I am attaching with this complaint a copy of the MLC which details my injuries. Nikhil Mathew tried to save me but was also hit with an iron hammer and other weapons on his head and arms. The intention of the group of men and their acts was definitely to murder me and other persons associated with me," she said.

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News Network
April 3,2020

New Delhi, Apr 3: Prime Minister Narendra Modi on Friday urged people to gather together for a unique exercise on April 5 at 9 pm to show they were together in the fight against coronavirus.

"On this Sunday, April 5, we will challenge the darkness of coronavirus threat together. On April 5, at 9 pm, I need your 9 minutes. At 9 pm, turn off all the lights in your houses and light a Diya, candle, torch or flashlight for 9 minutes at your doors, or balcony," Modi said.

The Prime Minister further said that this will send out a message that nobody among the 130 crore Indians is alone in this fight against the deadly infection.

"I have one more prayer to all of you, nobody has to gather at any place during this event. Everyone will light a Diya only at their doors, windows or balconies. The Laxman Rekha of social distancing must be followed," Modi said.
Earlier, the Prime Minister had said that 130 crore Indians are together in this fight against coronavirus and praised the countrymen for following the lockdown.

"Today when crores of people are inside homes, then some of us may think how will they fight this battle against COVID-19 alone. Such questions might come up in your mind? But please remember, none of us is alone. The strength of 130 crores of Indians is with each one of us," he said.

He also expressed gratitude towards countrymen for participating in 'Janata curfew' on March 22 and said it has become "an example for all countries" today as they are following it.

In his address to the nation on March 24, the Prime Minister had announced a 21-day lockdown in the country to contain the spread of novel coronavirus, which has infected over 2,000 people in the country.

During the last "Mann Ki Baat" on COVID-19 related issue, the Prime Minister had apologised to the countrymen for taking the tough decision of enforcing complete lockdown in the nation. "My conscience says you will forgive me," he had said.

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Agencies
March 15,2020

New Delhi, Mar 15: Dozens of Hindu activists held a cow urine party in New Delhi on Saturday to protect themselves from the new coronavirus, as countries around the world struggle to control the deadly pandemic.

Members and supporters of the All India Hindu Mahasabha staged fire rituals and drank from earthen cups to fight the Covid-19 virus at the gathering in New Delhi dubbed a "gaumutra (cow urine) party".

"Whoever drinks cow urine will be cured and protected," Hari Shankar Kumar, a volunteer at the event, said as he served the remedy in brown clay cups.

Governments and scientists have said no medicine or vaccine is available to protect or cure people of the infection that has killed more than 5,400 people and infected nearly 150,000 across six continents.

Two people have died in India while more than 80 have fallen ill, and the government has ordered the closure of some land routes into the country and cancelled all visas to stop the spread of the virus in the world's second most populous country.

Members draped in saffron clothes chanted Hindu hymns at the fire ritual as devotees sang paeans for the sacred animal.

"We have gathered here and prayed for world peace and we will make an offering to the corona (virus) to calm it," Chakrapani Maharaj, the group's leader, told reporters before gulping down a cup of urine.

He then offered a glass to a devil-shaped caricature of the virus to "pacify" it.

He urged people to adopt the "tried and tested" practice of drinking cow urine to ward off diseases, and desist from killing animals and eating meat.

"The coronavirus is also a bacteria and cow urine is effective against all forms of bacteria that harm us," claimed Om Prakash, a participant from the neighbouring state of Uttar Pradesh.

One legislator from the BJP last week suggested use of the urine as well as cow dung can cure the coronavirus.

Comments

PK
 - 
Sunday, 15 Mar 2020

A Waste is a Waste.... God has created a system in our body and animals to throw out the excess wastage from our body... Guys please stay away from drinking the wastage and putting the wastage inside the body again . U will be a loser health wise and mentally. 

 

 

Cows will surely think by seeing these people that human beings are stupid to drink our wastage... Drink its milk which is beneficial drink that God has given us.

 

Fairman
 - 
Sunday, 15 Mar 2020

If your faith is scientific, simply go to Corona infected patients and cure it.

 

If you are successful, Not only India the whole world will be Hindus. 

 

If you cant, you will never do it with cow urine or any other urine. People will losse faith on your type of Hinduism.

 

 

Kumaran
 - 
Sunday, 15 Mar 2020

wrost of worst human being..

when you worship the devil, the god will make you to dring urine, shit etc..and root in helll forver

 

Hindu regilion was very pure before now it become very ugly by so called hindu protector.

 

 

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