In battle mode, Sonia backs beleaguered PM

May 23, 2013

sonia

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New Delhi, May 23: A combative UPA chairperson Sonia Gandhi, clearly in battle mode, forcefully defended Prime Minister Manmohan Singh on Wednesday night against the unrelenting criticism he has been facing recently even as she tore into the Bharatiya Janata Party for disrupting Parliament and blocking the passage of key laws.

“The Prime Minister is carrying out his responsibilities with great dignity in the face of unrelenting hostility and abuse from the Opposition,” Ms. Gandhi said in her speech at the UPA’s ninth anniversary celebrations, stressing, “We respect him, and we all stand by him.”

She said the UPA government, the Congress and its coalition partners “have all worked closely and unitedly all these years … to pursue our policies and programmes, and provide effective governance.” The UPA was, therefore, “not going to be deterred or distracted by the drummed up noise being created around us,” she said, expressing the government’s determination to pass the food security and land acquisition Bills and asking the government to “impart new energy” to the Aap Ka Paisa, Aap Ke Haath initiative.

It was the battle cry that gathered UPA MPs wanted to hear.

If that was the uncompromising message from the stage, later during dinner on the lawns of the Prime Minister’s residence, Ms. Gandhi told journalists — in answer to a question — that there were no differences between her and the Prime Minister, that the party had a system of collective leadership, and that it would be a joint election campaign for 2014. This was a line party vice-president Rahul Gandhi — who sat along with the UPA brass on stage for the first time — repeated later to the media.

Later, the Prime Minister, responding to a question on the BJP’s attack on the UPA, said, “What else do you expect from a non-result oriented Opposition? ... There is lot of motivated criticism. Sometimes there are attempts to derail us.”

Asked about his current state of mind, he quoted one of his favourite poets, Iqbal: “Sitaron se aage jehan aur bhi hain … (there are many other worlds beyond these stars),” an indication that Dr. Singh has not yet given up the fight.

This was evident in his speech, too, as the Prime Minister emphasised that six per cent growth in the current year will set the stage for returning to an eight per cent growth rate in the current Five Year-Plan period ending March 31, 2017: “This will be difficult, but it is not impossible,” he said, pointing out, “We have done it before, and if we receive a mandate next year, we will certainly achieve it again.”

Taking on allegations of corruption in allocation of telecom spectrum and coal mines head on, the Prime Minister not only promised to punish wrongdoers but said all future allotment of scarce natural resources would happen only through “more transparent systems, i.e. auctions rather than relying on administrative allocations.”

If last year’s anniversary celebrations had seen both Samajwadi Party supremo Mulayam Singh Yadav and Rashtriya Janata Dal chief Lalu Prasad on stage, this year, the SP leader was missing, not turning up even for dinner — nor, indeed, sending a representative. But Mr. Prasad and Lok Janshakti Party chief Ramvilas Paswan were seated on the dais, along with the top UPA leaders, hinting at the possibility of the Congress forging an alliance with the RJD and the LJP for 2014. The stage also looked emptier, thanks to the exit of two key allies, the DMK and the Trinamool Congress.

An interesting addition to the guests seated at Ms. Gandhi’s table at dinner was a bearded MP no one recognised: it turned out to be the Jharkhand Mukti Morcha’s Sanjay Kumar, a Rajya Sabha MP, indicating the possibility of a Congress-JMM government soon in Jharkhand, currently under President’s Rule.

Also seated at the same table was Mr. Mulayam Singh Yadav’s former alter ego Amar Singh: he turned up at the celebrations with SP MP Jayaprada in tow — the buzz is she will be shortly joining the Congress. And finally, though BSP leader Mayawati did not show up, her two MPs, Satish Mishra and Brajesh Pathak, came — all given pride of place at Ms. Gandhi’s table.

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Agencies
August 6,2020

The Indian Defence Ministry, which had in its document that China intruded into the Indian territory in eastern Ladakh in early May, on August 6 took down the page which it had uploaded on its website.

According to a report by news channel NDTV, the ministry, in its document, had said the Chinese aggression has been "increasing along the Line of Actual Control (LAC) and more particularly in Galwan valley since May 5."

"The Chinese side has transgressed in the areas of Kungrang Nala, Gogra and north bank of Pangong Tso Lake on May 17-18," the document, titled 'Chinese Aggression on LAC' stated.

The document revealed that "... a violent face-off incident took place between the two sides on June 15, resulting in casualties on both sides."

After the clash, a second corps commander level meeting took place on June 22 to discuss the modalities of de-escalation. "While engagement and dialogue at military and diplomatic level is continuing to arrive at mutually acceptable consensus, the present standoff is likely to be prolonged," it said.

A defence ministry spokesperson told the news channel that the document "did not go through him".

The opposition Congress, meanwhile, asked the government why the report was taken down with party leader Rahul Gandhi alleging that removal of the document from websites would not change facts.

"Forget standing up to China, India's PM lacks the courage even to name them. Denying China is in our territory and removing documents from websites won't change the facts," Gandhi tweeted.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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Agencies
June 5,2020

Jodhpur, Jun 5: A video has gone viral on social media showing what could be called Jodhpur's George Floyd moment with a twist, showing cops throwing a person on the ground and pressing his neck with their knees for roaming around without a mask.

However, unlike the unfortunate incident in Minneapolis, Minnesota, the cops in Jodhpur reportedly acted after the person, said to be mentally challenged, turned violent after being confronted by the police.

Dumb TV media is playing the initial part of this video as 'India's George Flyod moment'. Doesn't matter to them that the same video shows the man beating the cops back badly pic.twitter.com/vGSaON6oii

— Swati Goel Sharma (@swati_gs) June 5, 2020

George Floyd, a 46-year-old black man, died after being arrested by the police outside a shop in Minneapolis in the US on May 25. Footage showed a white officer, Derek Chauvin, kneeling on Floyd's neck for several minutes while he was pinned to the floor. He was pronounced dead later in the hospital, triggering widespread protests across the US.

However, in the Jodhpur incident, the man, identifed as Mukesh Kumar Prajapat, did not die but instead started fighting with the policemen.

Jodhpur police officers confirmed that the video was shot in the city on Thursday after the police wanted to issue a challan against the man for roaming on the streets without wearing a mask before he started manhandling the police.

The video shows a cop pressing his neck with his knee while two other cops held the young man's legs. A huge crowd gathered when the scuffle broke out.

Meanwhile, the SHO of Dev Nagar police station, Somkaran, said that the police were issuing a challan to Prajapat when he attacked them and tore their uniform. An FIR has been lodged against Prajapat on a complaint lodged by the Pratap Nagar police station. He will be produced in the court later in the day.

Prajapat is said to be mentally challenged and had damaged his father's eye earlier for which a case was registered against him, the poice said. Action is being initiated against Prajapat under the Epidemic Act, they added.

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