PM to meet Obama at White House today

September 27, 2013

PM_to_meetWashington, Sep 27: Prime Minister Manmohan Singh will meet US President Barack Obama at the White House today to review the status of the bilateral relationship and chart a course for the future, particularly in the areas of defence, security, trade and investment and civil nuclear cooperation.

US Vice President Joe Biden, who was in India early this year and considered to be a strong advocate of India-US relationship, would also join the meeting at Oval Office, which is scheduled to begin at 2100 IST (1130 hours local Washington time), the White House said.

This is the third Obama-Singh summit meeting, the previous ones being in 2009 and 2010. The meeting will highlight India's role in regional security and stability and provide, the White House said with presidential spokesman stating that Obama is looking forward to the meeting with Singh.

Following the meeting, the two leaders would issue a joint statement in a brief media interaction. Thereafter, Obama would host Singh for a lunch. First Lady Michelle Obama will be hosting Gursharan Kaur, wife of the Prime Minister Manmohan Singh, for a tea at her residence.

Singh and his delegation would soon fly to New York for the second and final leg of his US trip to address the UN General Assembly and meet his Pakistani counterpart Nawaz Sharif on September 19.

Earlier on his arrival, the Prime Minister said the US is one of the most important strategic partner of India, noting that the two countries have taken several steps to widen and deepen this partnership in diverse ways.

"And during President Obama's regime, we have taken several steps to widen and deepen this partnership in diverse fields," he said.

"And during the present visit, we will review the progress that has been made and also what further can be done to give added meaning and content to this partnership," Singh said.

"The United States is one of India's most important trading partners, important provider of investment and technology support for India's development and we need the United States on our side as we move to give new added trust to our development programmes," he said.

"We will also review the international situation particularly with reference to international economic situation and other important areas like South East Asia, Middle East and West Asia," Singh said.

Indian Ambassador to the US, Nirupama Rao, said the meeting would not only review the progress made in the relationship but also set the pace and scope of the ties between the two largest democracies of the world and help accelerate the momentum of the co-operation.

In a media interaction, Rao said a great deal have been achieved in the relationship in the strategic partnership between the two countries in recent years.

"In true sense of the word it is a full spectrum relationship," she said, adding that the relationship not only has bilateral relevance and substance, but also extends to the regional situation and the larger global environment.

Noting that this is a relationship between the world's largest and important democracies, Rao said there is a true concordance of many interests here.

"Shared interests and shared concerns definitely," she said.

Reiterating India's concerns over certain provisions of the immigration reform, in particular those related to the H-1B and L1 visas, Rao said the Prime Minister intends to raise this issue with the US President.

From the US side, she acknowledged that the issues that might crop up during the meeting would be the economic and trade policies of India, which New Delhi has tried its best to address, which has been an issue of concern among American businesses.

"From our side, we would like the United States to understand the development challenges that we face, the situation in which we live, in terms of the environment around us," Rao said.

Responding to questions, Rao said issues of cross border terrorism and those related to Lashkar-e-Taiba (LeT) and Hafiz Saeed is very much in the agenda of the discussions with the United States. The US is aware of the depth of the Indian concerns on this issue.

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
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.

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
January 11,2020

New Delhi, Jan 11: Senior Congress leader P Chidambaram on Friday said that he has never seen innocents like the Indian people, who believe the claims made by the government on the implementation of its programmes. The former Union Minister, addressing a literary event, said, "I have never seen innocents like the Indian people. If something appears on print (and named two newspapers also), we believe it. We believe anything."

Claims like all villages having been electrified in the country and toilets built for 99 per cent of families in India were being believed, he said.

Similar was the case of the Ayushman Bharat scheme, (Pradhan Mantri Jan Arogya Yojana or PM-JAY is a flagship health care scheme of the Centre), he alleged.

Stating that his Delhi-based driver's father had to get a surgery done under the scheme, he said, however, it could not be performed.

"I asked him (car driver) if he had the Ayushman card and he showed a card and I told him to take it (to hospital). In hospital after hospital, they said they were not aware of anything like that (Ayushman scheme). But we believe that the Ayushman scheme has come to the whole of India," he said.

Further, he said "we believe that for any disease, treatment will be done (indicating the Ayushman scheme) without shelling out money. We are being innocents."

Many news items and data were contrary to the truth, he 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.
Agencies
July 20,2020

Kolkata, Jul 20: As many as 13 migrant workers who came to their native village in West Bengal's Bankura district were denied entry at the quarantine centre by the locals.

As a result, the workers had to set up a tent accommodation at a nearby Beraban forest area and lived together in a single tent there, without adequate food, drinking water and basic facilities.

The migrant labourers came from Rajasthan after four months of COVID-19 lockdown which was imposed nationwide on March 25 to contain the spread of coronavirus.

When they arrived at Jagadalla village in the Bankura district and tried to put up at a village school building for two weeks self-quarantine, angry villagers vehemently protested against their entry fearing Covid infections in their village.

Sources said that local police and panchayat members also failed to make the villagers understand the fact that if the labourers strictly stayed in self-quarantine there would be no chance of any further infection.

"The school is located quite within our neighbourhood. If they stay there and tested positive, they might spread Covid infections in the village. We cannot allow them to stay in the school building," said Aniket Goswami, a villager.

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.