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Modi wants to 'capture' RBI to gain control over its Rs 9L-cr reserves: Chidambaram

Agencies
November 18, 2018

New Delhi, Nov 18: Ahead of RBI Board meeting, Congress leader P Chidambaram on Sunday alleged that the central government was determined to "capture" the bank to gain control over its Rs 9 lakh crore reserves.

In a series of tweets, the former finance minister also claimed that the government and the Reserve Bank of India (RBI) was heading towards a "confrontation" in the Monday's board meeting of the bank. "Government is determined to 'capture' RBI in order to gain control over the reserves. The other so-called disagreements are only a smokescreen (sic)," he said on microblogging site Twitter.

Chidambaram said, "Nowhere in the world is the central bank a board-managed company. To suggest that private business persons will direct the governor is a preposterous idea."

"November 19 will be a day of reckoning for central bank independence and the Indian economy," he tweeted.

The RBI has a massive Rs 9.59 lakh crore reserves and the government, if reports are to be believed, wants the central bank to part with a third of that fund -- an issue which along with easing of norms for weak banks and raising liquidity has brought the two at loggerheads in the recent weeks.

The government on November 9 had said it was discussing an "appropriate" size of capital reserves that the central bank must maintain but denied seeking a massive capital transfer from the RBI.

Economic Affairs Secretary Subhash Chandra Garg had also clarified that the government wasn't in any dire needs of funds and that there was no proposal to ask the RBI to transfer Rs 3.6 lakh crore. "There is no proposal to ask RBI to transfer (Rs) 3.6 or (Rs) 1 lakh crore, as speculated," he had said.

"The government's FD (fiscal deficit) in FY 2013-14 was 5.1%. From 2014-15 onwards, the government has succeeded in bringing it down substantially. We will end the FY 2018-19 with FD of 3.3%.

The government has actually foregone (Rs) 70,000 crore of budgeted market borrowing this year."

Garg said the only proposal "under discussion is to fix appropriate economic capital framework of RBI".

Economic capital framework refers to the risk capital required by the central bank while taking into account different risks.

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News Network
March 23,2020

New Delhi, Mar 23: The central government has asked state governments to take strict action against violators of the coronavirus lockdown being enforced in 80 districts across the country.

An official statement released on Monday said there will be a total lockdown in 80 districts where coronavirus cases have been reported. The shutdown will end on March 31.

Delhi's borders will remain sealed during the lockdown, but essential services related to health, food, water and power supply will continue, and 25 per cent of the DTC buses will run to transport people associated with essential services.

Prime Minister Narendra Modi earlier on Monday appealed to state governments to ensure that rules and regulations of the coronavirus lockdown are enforced as he noted that many people were not taking the measure seriously.

"Many people are still not taking the lockdown seriously. Please save yourself, save your family, follow the instructions seriously. I request state governments to ensure rules and laws are followed," he said in a tweet in Hindi.

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Agencies
June 24,2020

New Delhi, June 24: The United Arab Emirates (UAE) has asked Air India to not carry any passengers aboard the repatriation flights to UAE being operated under the Vande Bharat Mission.

As per the Guidelines issued by the General Civil Aviation Authority of United Arab Emirates (UAE)- Safety Decision 2020-01 (Issue 17) Q and A Guidance For Foreign Operators, on June 23, 2020 - transportation of passengers ( UAE Nationals and Non - UAE Nationals) to the United Arab Emirates on the repatriation flights is not allowed.

In view of the foregoing, all passengers including the Indian Nationals who are holding valid Residency Permit / Work Permit of United Arab Emirates and have procured approval of the UAEs Federal Authority for Identity and Citizenship- UAE (ICA) of United Arab Emirates or an approval from the General Directorate of Residency and Foreigners Affairs (GDRFA) applicable to Dubai would need to have specific approval from the Embassy of the United Arab Emirates in New Delhi and their UAE Ministry of Foreign Affairs and International Cooperation (MOFAIC) to travel from India to United Arab Emirates (UAE) on these repatriation flights.

All passengers need to comply with the quarantine and COVID-19 test requirements as per the preventive and the precautionary measures required by the appropriate health authorities, as notified from time to time.

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News Network
February 21,2020

Nagpur, Feb 21: Former Maharashtra chief minister and senior BJP leader Devendra Fadnavis on Friday condemned AIMIM leader Waris Pathan's reported remarks that 15 crore Muslims are more than a match for the country's 100 crore Hindus, and asked the latter not to mistake the majority community's tolerance for weakness.

Pathan has been widely condemned for reportedly stating that "15 crore hain lekin 100 crore pe bhari hain".

He purportedly made these comments while addressing an anti-Citizenship (Amendment) Act rally in Kalaburagi in north Karnataka on February 16. The AIMIM leader has claimed he was quoted out of context.

Speaking to reporters in Nagpur, Fadnavis demanded an apology from Pathan and asked the Uddhav Thackeray government to take action.

"We condemn the statement made by Waris Pathan and demand an apology. In case he does not apologise, the state government must take action against him," he said.

Fadnavis said Pathan should understand that minorities were safe and enjoyed full freedom in India because 100 crore Hindus live in the country.

He said no one would dare utter such a statement in a Muslim-majority nation, adding that the "Hindu community is tolerant but its tolerance should not be mistaken for weakness".

"Pathan should apologise to the nation and the Hindu community," he said.

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