PM says US a "natural global partner"

September 27, 2014

PM in Newyork

New York, Sep 27: Describing America as India's "natural global partner", Prime Minister Narendra Modi arrived here today on a five-day visit to the US, holding out an assurance that India is "open and friendly" for business and innovations.

Modi, 64, flew into New York's JFK airport on a special Air India Boeing plane on the first leg of his maiden visit to the US as Prime Minister after a nearly nine-hour flight from Frankfurt where he had an overnight halt.

As he seeks to hardsell India as a sound investment destination and mend ties with the US after a bitter diplomatic row last year, Modi asserted that the two countries have a fundamental stake and many shared interests in each other's success.

Ahead of his arrival, Modi said he was looking forward to meeting President Barack Obama in Washington over two days from September 29 on the second and final leg of his visit. This will be the first meeting between the leaders of the world's two largest democracies.

The Prime Minister, who has a power-packed schedule, both in New York and Washington, with nearly 50 engagements, is due to deliver his maiden address to the UN General Assembly(UNGA) tomorrow during his three-day stay in New York.

Giving an insight into his UN address, Modi had said he he will call for a stronger global commitment and more concerted multilateral action in addressing challenges of fragile global economy, turbulence and tension in many parts of the world and growth and spread of terrorism.

Modi had said he will discuss with Obama how Indo-US ties can be taken to a "new level" in the interest of the two countries as well as of the world. He had also called the US as India's "vital partner" for its national development.

Obama will host a rare private dinner for Modi at the White House on September 29, so as to establish a personal relationship with the Indian leader ahead of summit talks the next day.

The Prime Minister is expected to have only tea and lemonade at the dinner as his US visit coincides with the Navratri fast which he religiously observes every year.

In an Op-Ed piece "Unleashing India's Energy and Drive" in the Wall Street Journal, Modi wrote that India and the US have "a fundamental stake in each other's success for the sake of our values and our many shared interests".

"The US is our natural global partner. India and the US embody the enduring and universal relevance of their shared values," Modi said, adding, "...India will be open and friendly--for business, ideas, research, innovations and travel. In the coming months, you will feel the difference even before you begin your travel to India."

The case involving Indian diplomat Devyani Khobragade last year had escalated into a full-blown diplomatic spat between India and the US, casting a shadow on their ties which was also clouded by irritants on some trade issues.

Khobragade was arrested and then strip-searched in New York for allegedly mistreating her domestic maid. She has denied any wrongdoing and has subsequently returned home.

Modi will draw perhaps the largest crowd ever by a foreign leader on US soil when he takes the stage on Sunday at New York's Madison Square Garden before a crowd forecast to be around 20,000 people, mostly from the NRI community.

Modi was unwelcome in the US for years after he was denied a visa in 2005 over the 2002 Gujarat riots under the terms of a 1998 US law that bars entry to foreigners who have committed "particularly severe violations of religious freedom".

The Prime Minister will have a gruelling schedule in New York which includes a meeting with as many as 11 top corporate honchos over breakfast on September 29.

These include Google Executive Chairman Eric E Schmidt, Carlyle Group Co-Founder and Co-CEO David M Rubenstein, Cargill President and CEO David W MacLennan, Merck & Co CEO Kenneth C Frazier and MasterCard President and CEO Ajay Banga, over breakfast on September 29.

The Prime Minister would also be having one-on-one meetings with six other executives from top corporate houses including Goldman Sachs, Boeing, BlackRock, IBM and General Electric.

In his interactions with top American corporate sector executives, the Prime Minister is expected to make a strong pitch for his policy of "red carpet and not red tape" to invite them to come, invest and make in India.

Ramping up cooperation in various key areas such as defence and nuclear energy and attracting American corporate honchos to invest in India are likely to dominate the visit which came a day after Modi launched the ambitious Make in India campaign in New Delhi.

Modi will pay a visit to the 9/11 memorial tomorrow following which he is expected to drive down to the UN headquarters to address the 69th annual session of the UNGA.

In Washington, Modi will also be participating in a business meet, to be organised by the US-India Business Council (USIBC), to be attended by 300-400 businessmen in Washington on September 30. Vice President Joe Biden will also host a lunch for the Prime Minister on that day.

Seeking enhanced ties, Modi said in the Wall Street op-ed that the complementary strengths of India and the US can be used for inclusive and broad-based global development to transform lives across the world.

"This is a moment of flux in the global order. I am confident in the destiny of our two nations, because democracy is the greatest source of renewal and, with the right conditions, offers the best opportunity for the human spirit to flourish," he said.

Modi would also be meeting the top American political leadership ranging from former President Bill Clinton and former Secretary of State Hillary Clinton to Indian-American South Carolina Governor Nikki Haley.

Ahead of his main summit at the White House on September 30, Modi would visit the Martin Luther King Memorial and Lincoln Memorial in Washington and pay floral tribute to Mahatma Gandhi's statue in front of the Indian Embassy.

This would be for the first time that an Indian Prime Minister would have so many public and private engagements during a US visit.

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Agencies
February 14,2020

Kochi, Feb 14: A special National Investigation Agency (NIA) court on Friday extended the remand of Thalassery-based students Allan Shuhaib and Thaha Fasal till March 13.

They were arrested under the Unlawful Activities (Prevention) Act in Kozhikode in November 2019.

Meanwhile, Alan Shuhaib has approached the High Court seeking permission to appear for the LLB 2nd semester exam scheduled on February 18.

Kerala Chief Minister Pinarayi Vijayan on February 6 wrote to Home Minister Amit Shah, urging him to transfer the case of the two students, who were arrested for alleged links with Maoists, from the NIA to state police.

Allan and Thaha, students of law and journalism respectively of Kannur University, were taken into custody by the police from Pantheerankavu in Kozhikode on November 1 last year for alleged links with the Naxals.

The duo was charged under Sections 20 (punishment for being a member of terrorist gang or organisation), 38 (offence relating to membership of a terrorist organisation) and 39 (offence relating to support given to a terrorist organisation) of the UAPA.

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News Network
March 6,2020

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

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Agencies
May 19,2020

Ahmedabad, Nay 19: Over 2,200 Indian nationals stranded in the UK due to the coronavirus related international travel restrictions have been flown back home during the first phase of India's biggest ever repatriation exercise, according to official figures.

Since the first special Air India flight took off from London’s Heathrow Airport for Mumbai on May 8, there have been eight routes to different Indian cities from the UK for Indian students and tourists.

Indian nationals were flown home to the cities of Mumbai, New Delhi, Bengaluru, Chennai and Ahmedabad.

“We have facilitated repatriation of 2,288 Indians stranded in the UK through eight Air India flights till 17 May. Vande Bharat Mission continues to get Indians home,” said the Indian High Commission in London.

The Vande Bharat Mission is India’s biggest ever repatriation exercise to bring back Indians from abroad who are unable to travel home due to COVID-19 related international travel restrictions.

As the second phase of the repatriation process gets underway, retired Indian High Commissioner to the UK Ruchi Ghanashyam will be among the Indians flying back to New Delhi on Thursday.

“It has been such a hectic period, but I hope to return to the UK to say goodbyes in person sometime in the future,” Ghanashyam said during a virtual farewell organised by the Indian Journalists’ Association (IJA UK) on Monday.

As the packed flights take off daily, there are some still desperately waiting their turn, including those wanting to fly to some cities that are yet to be scheduled, including Kolkata.

“I have two young daughters, elderly parents, and a wife back at home. There is no way to return to Kolkata. I am worried for my parents,” says Suvendu, who came to the UK for work but recently lost his job.

“I am really surprised there are no Kolkata flights yet, but I am hoping they will be announced in the future,” adds Dr Arpita Ray, whose father needs to fly back home.

Another group waiting their turn to return home to their families in India includes students in the Overseas Citizen of India (OCI) category, which remains suspended in India’s extended COVID-19 lockdown.

According to the regulations issued by the Indian government last month and updated last week, visas of foreign nationals and OCI cards, that provide visa-free travel privileges to the people of Indian-origin, have been suspended as part of the new international travel restrictions following the COVID-19 pandemic.

“Our plight is no different from the struggles being faced by Indian students who hold Indian passports – India is home for all us,” says Tridip, an undergraduate at SOAS University of London.

“Yes, air travel at this point of time may be a risk but we are of course ready to take all precautionary measures and undergo the mandatory quarantine period upon arrival in India," adds the 18-year-old.

“Having lived in India for the greater part of my life, India is home to me as much as it is to an Indian citizen, and just as any Indian citizen wishes for the comfort of home and family, so do I. I can only hope that the government reviews its policy on OCI holders and appeal to them to include us in their repatriation plans," says Atulit, an under-graduate student at Imperial College London.

Bianta, a student at Bangor University in Wales, adds: “Along with all of the mental stress, financially the UK is too expensive. In the coming weeks my rental agreement will expire, after which I will have nowhere to go.

“I cannot continue funding myself here in the UK as I only planned to be here till May marking the end of my course. Please help us get home. The colour of my passport does not define where my home is."

As all commercial international flights continue to be grounded, the second phase of the Vande Bharat Mission with a total of 149 flights is aimed at bringing back Indians from 40 countries. On landing in India, these travellers have a 14-day quarantine requirement at venues organised by the respective state governments. 

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