Modi blames Cong for bad-loan mess, claims every penny will be recovered

Agencies
September 1, 2018

New Delhi, Sept 1: Prime Minister Narendra Modi on September 1, 2018, blamed ‘phone-a-loan’ scam of the previous United Progressive Alliance (UPA) government for the bad loans in the banking sector and asserted that every penny given at the behest of ‘naamdars’ (dynasts) would be recovered.

Launching a payments bank of the postal department, Mr. Modi said that during the previous regime, the majority of bank funds were reserved only for the rich who were close to a particular family

Against ₹18 lakh crore loans given since Independence to 2008, the figure rose to an astronomical ₹ 52 lakh crore in six years thereafter, he noted.

“Loans were given on phone calls made by ‘naamdars’.” Banks lent crores of rupees to businessmen who were referred by the ‘naamdars’ in contravention of rules. “Knowing fully well that loans will not be paid back, banks lent money on orders of a family to a few.” And lenders were forced to restructure the debts when the borrowers defaulted, he alleged .

Mr. Modi charged the previous UPA government of hiding the extent of non-performing assets (NPAs) of banks. Since coming to power in 2014, the National Democratic Alliance government had analysed the enormity of the situation and asked banks to strictly recover dues.

‘Congress put economy on a landmine’

“The Congress had put the economy on a landmine,” he said. “Our government brought out the true picture of NPAs and the scam of the previous government.”

In the the last four years, all loans in excess of ₹50 crore have been reviewed and ensured that terms were strictly complied with. Twelve of the biggest loan defaulters have an outstanding of ₹1.75 lakh crore. Another 27 have ₹1 lakh crore. “We never gave any loans to any of the 12 big defaulters,” he said.

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Agencies
February 11,2020

New Delhi, Feb 11 Congress's performance touched a record low in the Delhi Assembly election as the party bagged less than 5 per cent of the total votes polled and 63 of its candidates lost their deposits.

The party, which ruled Delhi for 15 years on the trot under former Chief Minister Sheila Dikshit, failed to open its account for the second consecutive assembly election in Delhi.

Only three of its candidates Arvinder Singh Lovely from Gandhi Nagar, Devender Yadav from Badli and Abhishek Dutt from Kasturba Nagar managed to save their deposits.

Security deposit of a candidate is forfeited if he/she fails to secure one-sixth of the total valid votes cast in a constituency.

Most of Congress candidates got less than 5 per cent of the total votes polled in their respective constituencies.

Delhi Congress chief Shubhash Chopra's daughter Shivani Chopra, who was the party candidate from Kalkaji, also could not save her deposit.

Former Delhi Assembly Speaker Yoganand Shastri's daughter Priyanka Singh also forfeited her deposit.

The party's campaign committee chairman Kirti Azad's wife, Poonam Azad, lost badly and stood fourth, polling only 2,604 (2.23) votes.

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News Network
January 23,2020

Jan 23: Pakistan's Prime Minister Imran Khan called on Wednesday for the United Nations to help mediate between nuclear armed India and Pakistan over the disputed territory of Kashmir.

"This is a potential flashpoint," Khan said during a media briefing at the annual meeting of the World Economic Forum in Davos, Switzerland, adding that it was time for the "international institutions ... specifically set up to stop this" to "come into action".

The Indian government in August revoked the constitutional autonomy of Indian-administered Kashmir, splitting the Muslim-majority region into two federal territories in a bid to integrate it fully with the rest of the country.

Kashmir is claimed in full by both India and Pakistan. The two countries have gone to war twice over it, and both rule parts of it. India's portion has been plagued by separatist violence since the late 1980s.

Khan said his biggest fear was how New Delhi would respond to ongoing protests in India over a citizenship law that many feel targets Muslims.

"We're not close to a conflict right now ... What if the protests get worse in India, and to distract attention from that, what if ..."

The prime minister said he had discussed the prospect of war between his country and India in a Tuesday meeting with US President Donald Trump. Trump later said he had offered to help mediate between the two countries.

Khan said Pakistan and the United States were closer in their approach to the Taliban armed rebellion in Afghanistan than they had been for many years. He said he had never seen a military solution to that conflict.

"Finally the position of the US is there should be negotiations and a peace plan."

In a separate on-stage conversation later on Wednesday, Khan said he had told Trump in their meeting that a war with Iran would be "a disaster for the world". Trump had not responded, Khan said.

Khan made some of his most straightforward comments when asked why Pakistan has been muted in defence of Uighurs in China.

China has been widely condemned for setting up complexes in remote Xinjiang province that Beijing describes as "vocational training centres" to stamp out ""extremism and give people new skills.

The United Nations says at least one million ethnic Uighurs and other Muslims have been detained.

When pressed on China's policies, Khan said Pakistan's relations with Beijing were too important for him to speak out publicly.

"China has helped us when we were at rock bottom. We are really grateful to the Chinese government, so we have decided that any issues we have had with China we will handle privately."

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News Network
June 25,2020

Ottawa, Jun 25: Prime Minister Justin Trudeau took his son out for ice cream on Wednesday in his first family outing since Canada started easing out of its pandemic lockdown.

It was also Saint-Jean-Baptiste Day in Quebec province.

Wearing masks, the Canadian leader and his six-year-old son Hadrien were cheered at Chocolats Favoris in Gatineau, Quebec.

According to a pool report, Trudeau said the shop tapped into a federal emergency wage subsidy and business loan in order to weather the pandemic, and "avoid being frozen out of the frozen treat market."

Hadrien is said to have bounced with excitement, settling on a vanilla cone with a cookie topping while dad bought a vanilla cone dipped in chocolate for himself.

Father and son then headed out to the patio, where they doffed their masks to eat their cones.

Canada's provinces and territories declared states of emergency mid-March, closing schools and non-essential businesses in response to the pandemic.

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