No apology or withdrawal of charges against Devyani Khobragade: US

December 20, 2013

Devyani_Khobragade

Washington, Dec 20: The United States has ruled out acceding to either of the two Indian demands- withdrawal of charges against its diplomat Devyani Khobragade, and an apology for alleged mistreatment, after her arrest in New York last week.

"We take these allegations very seriously. We're not in any way walking back from those allegations or the charges. Again, this is really a law enforcement issue," the state department spokesperson, Marie Harf said.

"No," she said when asked if Khobragade would go "scott free" and US courts would be asked to drop the charges.

Refuting that charges against the diplomat could be dropped, she said: "I don't know the details of the complaint, and I don't know if even withdrawing the complaint, which I'm not saying anybody is considering would, in fact, drop the charge. That's not something that's even being considered."

"We certainly take these types of allegations very seriously though. It's not a decision for us whether to prosecute or not," Harf said.

She said that the US informs annually every country having diplomats there through diplomatic notes about "obligations they have for their staffs when they bring them to the United States."

"We make those obligations very clear and we take any allegations that they haven't done so very seriously. So certainly, there's no discussion like that going on. We just want the process to move forward," she added.

She refused to distance the state department from alleged highly rhetorical statement of Preet Bharara, the US prosecutor handling the case, as was being reported from India.

The report came following the telephonic conversation between the under secretary of state for political affairs, Wendy Sherman, and India's foreign secretary, Sujatha Singh.

Contradicting Salman Khurshid's statement, Harf said no telephonic conversations between him and John Kerry was planned and nothing is scheduled as of now.

"No plans (for Kerry) to (call Khurshid)," she said in response to a question.

"I mean, he (Kerry) always open to, but I think there was some misreporting out there today that he maybe was planning to, and that's just not the case," she said.

Khurshid in media interview in Delhi was quoted as saying that he was scheduled to have call with Kerry.

Kerry is on year-end family vacation and would return to Washington after holidays, she said.

He had called the national security adviser, Shivshankar Menon, a day ago and expressed regret over the alleged mistreatment of Khobragade.

The Indian diplomat was allegedly strip search after her arrest on visa fraud charges.

His call had appeared to calm down the sudden eruption of tensed situation between the two countries.

"We are conveying repeatedly the same message, both about our regret about what happened, but also how we move forward from here."

"That's a consistent message we are conveying diplomatically through proper diplomatic channels to the Indian Government," she said.

Acknowledging that Sangeeta Richard's father-in-law works for the US Embassy in New Delhi, she said: "I can confirm that he either was or is. I don't know the current status, employed in a personal capacity by a US diplomat, not as a US Government employee."

Harf called "highly inaccurate" India's allegations that the United States did not respond to the series of letters and communications that were made by it.

"It's highly inaccurate to say that we ignored any Government of India communiques on this issue, period," she said, but refused to divulge the details citing legal nature of the case.

"We're still compiling a precise sequence of all of our government-to-government communications on it, goes back months. Some of these communications are private diplomatic conversations or law enforcement sensitive," she said.

The Indian and US interpretation of the issues and allegations at play throughout this entire scenario, she said.

"But I would say that we have engaged in extensive conversations with the Government of India about this issue in Washington, in New York, in New Delhi, going back to the summer."

"We've also requested the Government of India to provide us with the results of its own enquiry into the allegations made by Dr Khobragade's domestic worker and to make her available to discuss them, I don't think either of which was done," she alleged.

They are yet to receive any request from Indian Government with regard to transfer of Khobragade to India's Permanent Mission to the UN, she said.

India had said that this move would give her the necessary diplomatic immunity. Harf, however, said this immunity would not be retroactive.

"It is not retroactive," she said in response to a question.

"Generally speaking, if there's a change in immunity, because of a different diplomatic status, that immunity would start on the date it's conferred, after the process," she added.

"So there's a process: it goes to the UN Secretariat, comes to the US state department, everybody has to say yes. There?s a process, a bureaucratic process. And then, if a different diplomatic status is conferred, it?s conferred at that date."

"We haven't received an official request for re-accreditation. Obviously, if we do, we'll look at it. I don't want to venture to guess hypothetically what a new position might look like because we haven't received that yet," she said.

Defending the US government's decision to provide visa to the immediate family members of the missing Indian maid, she said it was part of the effort to unite the family.

"Without going into specifics about some of those details, the US government has taken steps to reunite the alleged victim with her family. Obviously, I'm not going to go into specifics about that."

"We are aware of the existence of allegations that the family was intimidated in India. Obviously, I can't confirm those. But in general, we take those kinds of allegations very seriously," she argued.

A 1999-batch IFS officer, 39-year-old Khobragade was arrested on December 12 on visa fraud charges by the State Department's diplomatic security bureau, and then handed over to the US Marshals Service (Usms). She has since been posted to India's Permanent Mission in New York.

Khobragade was taken into custody as she was dropping her daughter to school before being released on a $250,000 bond after pleading not guilty in court.

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News Network
May 24,2020

Thiruvananthapuram, May 24: Keralites on Sunday celebrated a low-key Eid-ul-Fitr amid the coronavirus lockdown in the state as most of the faithful marked the culmination of the fasting month of Ramzan by offering thanksgiving prayers at home.

The festival is being celebrated across Kerala and Jammu and Kashmir on Sunday, while the rest of the country will celebrate Eid on Monday.

Kerala Chief Minister Pinarayi Vijayan extended Eid-ul-Fitr greetings to all Keralites across the world.

State Governor Arif Mohammed Khan also extended his festival wishes to all the Keralites.

"May we also have the blessing to prevent and eliminate the COVID-19 disease," Khan tweeted.

Vijayan said this year Ramzan is celebrated at a time when the world is going through "an unprecedented crisis and misery" because of pandemic COVID-19.

"Usual celebration during Ramzan is not there anywhere in the world due to the pandemic. Instead of offering prayers at mosques, which is important for Muslims, this time the prayers and the feast is performed in their homes.

Community leaders have taken this important decision to protect the interests of the society" he added.

The chief minister said Eid-ul-Fitr gives out a message of equality, tolerance and repentance.

The state government had earlier announced that the lockdown restrictions in the state onSunday will be relaxed in the view of Eid-ul-Fitr with shops selling essential items remaining open.

The State government had earlier declared that a complete shutdown would be observed in Kerala on Sundays in order to contain the spread of the deadly virus.

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News Network
July 25,2020

New Delhi, Jul 25: India reported a spike of 48,916 coronavirus cases on Saturday, according to the Union Ministry of Health and Family Welfare.

The total COVID-19 positive cases stand at 13,36,861 including 4,56,071 active cases, 8,49,431 cured/discharged/migrated. With 757 deaths in the last 24 hours, the cumulative toll reached 31,358.

Maharashtra has reported 3,57,117 coronavirus cases, the highest among states and Union Territories in the country.

A total of 1,99,749 cases have been reported from Tamil Nadu till now, while Delhi has recorded a total of 1,28,389 coronavirus cases.

According to the Indian Council of Medical Research (ICMR), 4,20,898 samples were tested for coronavirus on Friday and overall 1,58,49,068 samples have been tested so far.

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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.

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