President, Sonia express concern over lynching incidents

Agencies
July 2, 2017

New Delhi, Jul 2: President Pranab Mukherjee joined Congress president Sonia Gandhi in expressing serious concern over growing number of mob lynching cases in India, wondering whether the society is vigilant enough to save the basic tenets of the country.

sonia

“When mob lynching becomes so high and uncontrollable, we have to pause and reflect, are we vigilant enough?,” Mukherjee said at the release of commemorative publication of relaunched National Herald here.

Sonia Gandhi, who spoke at the function, said, "It is being encouraged by a culture of vigilante violence, actively supported by those who are supposed to enforce the law."

Later, Priyanka Gandhi Vadra, daughter of the Congress president, told reporters that "It (incident of lynching) makes my blood boil. It should make blood of every Indian boil."

Mukherjee's comment and Sonia Gandhi's criticism came in the wake of reports about the spiralling violence over beef.

Mukherjee, who retires later this month, said, "When mob frenzy becomes so high, irrational and uncontrollable, we have to pause and reflect. I am not talking of vigilantism, I am talking of are we vigilant enough, proactively to save the basic tenets of our country.”

He said, "I do believe that citizens' and media vigilance can act as the biggest deterrent to forces of darkness and backwardness."

Congress president Sonia Gandhi said India is being marked by increasing threats of 'authoritarianism.'

She said, "Today the tried and tested idea of India has been thrown fundamentally into question by rising intolerance, by malevolent forces. It is being encouraged by a culture of vigilantive violence, actively supported by those who are supposed to enforce the law."

Gandhi further said that National Herald newspaper, which has been revived, is a testament to unity and justice and "not the division and hate that the present times are witnessing.

She said, "We are in a war of ideas, we have reached this war to preserve our ideas, which have built India as a model of democracy diversity and coexistence.if we don't raise our voices, if we do not speak up, our voices will be taken as consent."

A day after nationwide protests against lynchings spilt onto the streets, Modi had on Thursday broke his silence at Sabarmati Ashram in Gujarat and said killing people in the name of gau bhakti (devotion to the cow) is not acceptable.

The PM also said Mahatma Gandhi would not have approved of it and that no person in the country has the right to take the law into his own hands.

However, Modi's warning seemed to have had a little effect as just hours after his speech, Alimuddin, a meat trader, was lynched in Jharkhand’s Ramgarh.

Many cities witnessed protests across various locations under the tagline “Not in My Name” to protest against the lynching of 15-year-old Junaid Khan in a Mathura-bound train last week.

Comments

AK
 - 
Thursday, 6 Jul 2017

Thats VERY VERY GOOD .. Many families will give blessing to siddaramaiah...

Only Drunkards will not be happy with the closer.

Abdullah
 - 
Sunday, 2 Jul 2017

Worst President and opposition party ever faced in India.

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News Network
April 8,2020

Jamnagar, Apr 7: A 14-month-old baby boy, who had tested positive for coronavirus in Gujarat's Jamnagar district on April 5, died of multiple organ failure on Tuesday, said officials.

The toddler, son of a migrant labourer-couple having no recent travel history, died in the evening at a government hospital in Jamnagar, said an official release.

He was in a critical condition ever since he was admitted to the hospital, it said.

The boy, who tested positive for coronavirus two days ago, was as on ventilator support and eventually died due to multiple organ failure, said the release.

He becomes the youngest patient to succumb to COVID-19 in Gujarat, where the death toll has now gone up to 16.

The baby was the first and the only case of coronavirus infection so far in entire Jamnagar district and the youngest to be diagnosed with the disease in Gujarat.

Ever since he tested coronavirus positive, the authorities had been tracing the source of his infection.

His parents are from Uttar Pradesh and work as casual labourers in factories in the port city.

His parents, who have no travel history in the recent past, are asymptomatic (not showing symptoms) and kept under quarantine, officials said.

The locality where the couple resides in Dared village near Jamnagar city has been put under complete lockdown to check the spread of the virus, they said.

Gujarat has so far recorded 175 coronavirus positive cases and 16 fatalities.

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News Network
February 3,2020

Bengaluru, Feb 3: India's manufacturing activity expanded at its quickest pace in nearly eight years in January with robust growth in new orders and output, a private survey showed on Monday, suggesting the economy may be getting back on firmer footing.

In response to the jump in sales, factories hired new workers at the fastest rate in more than seven years.

If sustained, the improvement in business conditions could point to a gradual economic recovery in coming months, as forecast by analysts in a Reuters poll last month, after growth slowed to a more than six-year low in the July-September quarter.

The Nikkei Manufacturing Purchasing Managers' Index , compiled by IHS Markit, jumped to 55.3 last month from 52.7 in December. It was the highest reading since February 2012 and above the 50-mark separating growth from contraction for the 30th straight month.

"The PMI results show that a notable rebound in demand boosted growth of sales, input buying, production and employment as firms focused on rebuilding their inventories and expanding their capacities in anticipation of further increases in new business," Pollyanna De Lima, principal economist at IHS Markit, said in a news release.

A new orders sub-index that tracks overall demand hit its highest level since December 2014 and output grew at its fastest pace in over seven and a half years, pushing manufacturers to hire at the strongest rate since August 2012.

Meanwhile, both input costs and output prices rose at a slower pace, indicating overall inflation may have eased after hitting a more than five year high of 7.35% in December, although probably not below the Reserve Bank of India's medium-term target of 4%.

That might keep the central bank, which cut its key interest rate by a cumulative 135 basis points last year, on the sidelines over the coming months.

"To complete the good news, there was also an uptick in business confidence as survey participants expect buoyant demand, new client wins, advertising and product diversification to boost output in the year ahead," added De Lima.

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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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