IS propoganda has not affected Indian social fabric, says Rajnath Singh

Agencies
March 15, 2018

Gurgaon, Mar 15: Home Minister Rajnath Singh has said Indian social fabric has not been affected by the emergence of the Islamic State.

"I am, however, happy that Indian social fabric has not been affected by the emergence of the Islamic State and I am sure this will not have any further impact in our country," he said.

Addressing the fourth counter-terrorism conference -- 'Changing Contours of Global Terror' -- Singh, without taking Pakistan's name, said some countries are providing sponsorship and safe havens to terrorists and this has further played a major role in the phenomenal growth of terrorism globally.

"Radicalisation of populace, particularly youths, is another trend and one of the most challenging problems being faced the world over.

"Several countries in the world have identified the problem and have taken measures to check and control the process of radicalisation and I am happy to state that India has timely busted some modules that were planning to orchestrate terrorist attacks on her soil," he said.

The home minister said providing sponsorship and safe havens have further played a major role in the phenomenal growth of global terrorism.

In addition, state support has granted terrorist groups access to resources, guidance and logistics, which would normally be beyond their capabilities, Singh said.

"Any effort to counter the activities of terrorist groups carries the danger of placing the victim nation in direct confrontation with the host nation and its resources," he said.

Singh said in the recent years, the perception of global terrorism has undergone a massive makeover with the rise of armed terror groups especially in the Middle East, South Asia and Africa.

"This phenomenon could be attributed to the diminishing control in the terror space of the Al-Qaeda leadership, which just a decade ago was the face of terrorism. The shift of AQ Network from the Middle East to South Asia is a phenomenon, which is of serious concern to India," he said.

The home minister said a new dimension of terrorism is the networking of terrorist groups with the criminal underworld including organised crime gangs, gunrunners, smugglers, drug peddlers, with hawala and parallel banking channels being used for global flows of finance.

"It has enabled global terrorist groups to use the infrastructure and terrain knowledge of local outfits for launching attacks in countries, despite having no presence in the area," he said.

The home minister said the government has kept a keen watch on the growth of IS and their ways of using social media as a key tool for ideological indoctrination, recruitment and networking by targeting young generation and intellectual Muslims.

"The potential threat posed by the ISIS are large-scale radicalisation of Muslim youths throughout the world, the rise in 'lone-wolf' and terror attacks by returnee foreign fighters to their home countries. The terror attacks in Australia and France are telling examples of such threat," he said.

Singh said IS propaganda has significantly altered jihadi discourse in India, which, so far, was rooted in grievances against the Indian state and society.

"I am, however, happy that Indian social fabric has not been affected by the emergence of the Islamic State and I am sure this will not have any further impact in our country," he said.

The home minister said India has consistently taken steps to intensify and strengthen international cooperation through various means.

Terrorism, in all forms, including, Left Wing Extremism and Insurgency, poses a challenge on the sovereignty of India and the country already faces a serious challenge due to relentless efforts of Pakistan-sponsored anti-India Islamist groups like the LeT, JeM, HUJI and Hizbul Mujahideen, he said.

Singh said the emergence of India at the global level is also being challenged by the terrorist groups, due to its vibrant economy and plural character.

Comments

Abu Muhammad
 - 
Thursday, 15 Mar 2018

Rajnathji, it is because Muslim scholars exposed IS as anti-muslim, unislamic and US-Israel sponsored international terrorist group whose leader is a Jew with a muslim name.

 

Sirji, why did you left out RSS, BD, VHP, Gou Rakshas, Vahinis, Senas, brigades etc. affiliated to BJP from Radicalisation, Terrorism, extremism, communalism ?? World wants to know your answer???

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News Network
June 16,2020

New Delhi, Jun 16: Delhi Health Minister Satyendar Jain on Tuesday said that he has been hospitalised after suffering from high-grade fever and a sudden drop in his oxygen level.

He tweeted to inform that he was admitted to the Rajiv Gandhi Super Speciality Hospital (RGSSH) here, a dedicated COVID-19 facility under the Delhi government.

"Due to high-grade fever and a sudden drop of my oxygen levels last night I have been admitted to RGSSH. Will keep everyone updated," Jain tweeted.

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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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News Network
June 27,2020

New Delhi, Jun 27: India on Saturday crossed 5 lakh-mark with record highest spike of 18,552 cases of coronavirus reported in the country in the past 24 hours.

India has added more than 3.18 lakh COVID-19 cases since June 1.

According to the Union Ministry of Health and Family Welfare, this was the highest single-day spike of COVID-19 positive cases. Also, with 384 fatalities in the past 24 hours, the total deaths inched closer to the 16000 mark.

With this, the total number of active cases are 1,97,387 while a total of 2,95,880 people have been cured or discharged from hospitals. The death toll stands at 15685 with one person migrated outside India, according to the health ministry update at 8 am today.

Maharashtra continues to top the countrywide list with a total number of COVID-19 positive cases at 1,52,765.

Delhi has so far reported 77,240 confirmed cases while Tamil Nadu has reported 74622 cases till now, as per the MoHFW. Delhi, Mumbai and Chennai are the worst-hit cities in the country

According to the Indian Council of Medical Research (ICMR), the total number of samples tested up to June 26 is 79,96,707; the number of samples tested on June 26, Friday stands at 2,20,479.

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