Mamata in fresh row, faces flak for calling students Maoists

May 19, 2012

mamatha_bannerji19

?Kolkata, May 19: West Bengal Chief Minister Mamata Banerjee on Friday stormed out of a CNN-IBN show on one year of Trinamool Congress rule, after accusing the audience, which consisted of students, to be Maoists and CPM cadre.

The Trinamool Congress chief lost her cool and stormed out of the interactive TV session when members of the audience questioned her on the arrest of Jadavpur University professor Ambikesh Mahapatra and increased rate of crime against women in the state, including the controversial Park Street rape case.

Alleging that the professor was a member of the CPM cadre, the West Bengal Chief Minister said, "It is not a cartoon. We love cartoons. Cartoon is a different thing. He is a CPM man. He misused the e-mail of his society people without their consent. He forwarded it to 60 people."

Mamata also hit out at the CPM, accusing it of working hand-in-glove with the Maoists.

While responding to the question on the cartoon controversy, Mamata slammed the students among the audience saying, "I know that Maoist people and CPM are putting up these questions."

The Chief Minister even went on to ask the girl student who had posed the question if she was a Maoist, asking, "Why students from outside Jadavpur University are not here?"

When asked by the students about crime against women in the state, the Chief Minister got furious. She argued there was no crime against women in the state, and accused the students of being CPM cadres and asking "Maoist questions".

Mamata claimed that it could even be verified that the members of the audience were Maoists and CPM cadres, and they were asking nothing but "questions of the Maoists and the CPM".

Post her walkout, an angry audience spoke out against Mamata's behaviour and expressed their dismay at the sorry state of affairs in the state.

The girl who was accused by the Chief Minister of being a Maoist cadre, said, "I study political science, I know of it in theory. I don't see it in practice. I mean, I am just asking her a question. I didn't provoke her. I didn't instigate her to do what she did. She put a label on me and she walked off. That's what she's been doing. She put a label on the rape victims even before the police had done their dues."

Another member of the audience said, "Looking at the chair, I stood like a lamp post here and that kind of symbolises what is happening in West Bengal. There is one post and everyone else is a lamp post. There is no other work in the Cabinet."

"I am not officially attached to any party. What amazes me as a common man is that if a head of the state behaves that way, then how do we expect local TMC people to behave?" another member asked.

"I have come back after 20 years to this state to try and do some work here because I was so enthused by the change and well... I am going back," said another.

"When she came here, didn't she know that she was going to be asked uncomfortable questions? What did she expect? That people will pat her back and say that you have done very good work? Wasn't she prepared for all these uncomfortable questions?" asked another.

"If you want to engage the youth, involve them in politics and governance. You need to be prepared to give honest answers and to suit their fears and address them."

"Whatever happened, we can joke about it, we can laugh about it but underlining that laughter is a sense of utter despair and the fact that she has landed exactly in that position of political intolerance of defence she voted out the CPM," said an audience member. "Every time she speaks she quotes from Ram Chandra Paramhans and Swami Vivekanand and Tagore and what she displayed here, if she could have just level headedly took the questions. If she thought that we were the ones who were wrong, she should have come out with a logic and told us that you are wrong because of these reasons and not just label somebody as a Maoist and walk off. That just shows that she doesn't have a hallmark of a true leader."

"She has been quoted in Time magazine as being a very powerful woman, Hilary Clinton has rave reviews about her. I wonder what these people will say when they hear about how she behaves with common citizens," said another.

"She has the perfect platform, she just let it go. This is unacceptable," another member added.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
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.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 11,2020

New Delhi, Jan 11: Islamic preacher Zakir Naik has revealed that the Bharatiya Janata Party-led government offered to drop false money-laundering charges against him and provide with a "safe passage to India" in return for his support to the government's move to revoke Article 370 of the Constitution.

In a statement issued by Naik's PR team on Saturday, the Islamic preacher said that he was approached by a representative of the Indian government in September, who offered him the said deal on Kashmir, which he refused.

"Three and a half months before, the Indian officials approached me for a private meeting with a representative of the Indian government. When he came to Putrajaya (a Malaysian city), in the fourth week of September 2019, to meet me, he said that he is coming after personally meeting and under the direct instructions of the Prime Minister of India Narendra Modi and the Home Minister of India Amit Shah," Naik said in a video statement released by his Mumbai-based PR team.

Naik, who has been living in Malaysia for the last three years, is facing charges of inciting communal disharmony and committing unlawful activities in India.

"(The representative) said that he wanted to remove the misconceptions and miscommunications between myself (Naik) and the Indian government, and wants to provide me a safe passage to India," he added. "He (the representative) said that he would like to use my connections to better the relationship between India and the other Muslim countries."

"The meeting lasted for several hours. He told me that he wanted me to support the BJP government when they revoked Article 370 in Kashmir. And I flatly refused," he added.

Naik said that after he refused the offer, he was further asked to not make public statements against the BJP or Prime Minister Narendra Modi.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 5,2020

Ayodhya,  Aug 5: The Saryu Ghat was seen decorated ahead of the foundation stone-laying ceremony of the Ram Temple in Ayodhya on Wednesday.

In wake of the COVID-19 pandemic, sanitisation work was also done at the Hanuman Garhi temple in the morning ahead of the Prime Minister's visit. Strict security and COVID-19 protocols will be followed at the temple.

Prime Minister Modi will perform 'pooja' at Hanuman Garhi and Shree Ramlala Virajman before performing 'bhoomi pujan' of the Ram Temple in Ayodhya, the Prime Minister's Office (PMO) had informed on Tuesday.

He will unveil a plaque to mark the laying of the foundation stone and also release a commemorative postage stamp on 'Shree Ram Janmabhoomi Mandir'.

Around 175 eminent guests have been invited for the ‘bhoomi pujan’ of the Ram Janmbhoomi Mandir. Besides Prime Minister Modi, RSS chief Mohan Bhagwat, Mahant Nritya Gopaldas Maharaj, Uttar Pradesh Governor Anandiben Patel and Uttar Pradesh Chief Minister Yogi Adityanath will be present on stage.

"175 eminent guests have been invited for the ‘bhoomi pujan’ of Shri Ram Janmbhoomi Mandir. 135 Pujya Sants belonging to 135 spiritual traditions will be present in the programme. Some eminent citizens of Ayodhya have also been invited," as per Shri Ram Janmbhoomi Teerth Kshetra.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.