Opposition targets govt over reports about Rajnath's son

August 27, 2014

New Delhi, Aug 27: The opposition today targeted the government over media reports that claimed Home Minister Rajnath Singh's son had been ticked off by the Prime Minister for alleged misconduct, with Congress questioning what the allegations are about.

Congress General Secretary and Media Department Chairperson Ajay Maken said that the Prime Minister's Office had tweeted to say that rumours against Rajnath Singh's son are plain lies.Rajnath-Singh

"The strange thing is that when as opposition party Congress has not levelled any allegations against his (Rajnath's) son, so the country and the Congress party want to know Rajnath Singh ji,....Prime Minister you should first of all tell what are the allegations against the son, that you are denying," Maken told reporters here.

Referring to the Home Minister's statement that he would quit politics if any misconduct on his or his family's part is proved, he said the Congress party wants to know what the allegations are.

"With a lot of humility, the Congress party also wants to know from Rajnath Singh, that when it, the principal opposition party had not levelled any such allegations, then who has made these allegations," Maken said.

CPI leader D Raja said the clarification by the PMO and the Home Minister was "too late and too little" as reports have been appearing in national dailies for days together.

"Without any fire, there cannot be any smoke. It shows there are lot of things....there is internal strife....the politics is changing," he said. Raja said it is RSS which dictates what BJP should or should not do.

JD(U) leader Sharad Yadav, however, came out in support of Rajnath Singh and said the Home Minister is spotless. Similar views were expressed by NCP leader D P Tripathi.

"It is good that the PMO has clarified. I have known Rajnath Singh for so many years. He is not the kind of person who would even think of such a thing. Forget about doing it. Even his family members would never think of such a thing," said Tripathi.

Samajwadi Party (SP) also came in support of the Home Minister with party leader Gaurav Bhatia saying that "nobody has any doubts regarding the impeccable reputation Rajnath Singh has".

"But, at the same time, the clarification does not help, rather it complicates the whole issue. The clarification itself relies on rumours. So the greater question today that everyone is asking is that what were the rumours," he said.

"The people want to know about the rumours. Definitely we have seen that there has been centralisation of power in the BJP....," Bhatia said.

Meanwhile, BJP rubbished the media reports about "alleged misconduct" of Rajnath Singh's son.

"I believe the government has taken a step....The things have been put to rest absolutely....in the sense all the rumour mongers have been nailed and whoever is doing so must have got a befitting reply to this by now," party spokesperson Sambit Patra said.

He dismissed suggestions of financial irregularity on the issue. "Where was the financial irregularity? When the Prime Minister's office has denied, when Rajnath Singh has denied so the kind of speculation that was going on, the kind of rumours that were going on, they were rumours....They were not true," he said.

The PMO had earlier said, "The reports are plain lies, motivated and constitute a malicious attempt at character assassination and tarnishing the image of the Government. Those indulging in such rumour-mongering are damaging the interest of the nation. These reports are strongly denied."

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Agencies
February 26,2020

Kochi, Feb 26: Kerala High Court on Wednesday imposed a ban on strikes in schools and colleges that impact the functioning of the campuses.

''The functioning of campuses should not be hampered by the strikes. The colleges are for study, not for strikes. There should not be any march or gherao on campuses. Do not incite anyone for a strike," a bench of Justice PB Suresh Kumar said in its order.

"The order applies to schools and colleges. Do not harm the rights of others. The college can be a venue for peaceful discussions or thoughts. If actions are contrary to the orders of the court, the authorities can take action. They can call the police and restore peace," the order reads.

The Kerala High Court issued the order while hearing a petition filed by 20 educational institutions against campus politics.

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News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

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News Network
July 17,2020

New Delhi, Jul 17: With the highest single-day spike of 34,956 cases, and 687 deaths, India's COVID-19 positive cases crossed the 10 lakh mark on Friday, according to the Union Ministry of Health and Family Welfare.

The total positive cases stand at 10,03,832 including 3,42,473 active cases, 6,35,757 cured/discharged/migrated and 25,602 deaths, according to the Ministry.

As per the Ministry, Maharashtra -- the worst-affected state from the infection -- has a total of 2,84,281 COVID-19 cases and 11,194 fatalities.

While Tamil Nadu has a tally of 1,56,369 cases and 2,236 deaths due to COVID-19.
Delhi has reported a total of 1,18,645 cases and 3,545 deaths due to COVID-19. 

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