New Delhi, Jun 24: A Reserve Bank of India (RBI) panel deciding on guidelines for transfer of the central bank’s surplus funds to the government has further delayed submitting its report, an official said on Monday.
The six-member panel, headed by Former RBI Governor Bimal Jalan, which was originally supposed to submit the report in April, delayed it for the fourth time due to lack of consensus.
The panel will submit the report after the federal budget in July, the official said.
New Delhi, Feb 9: Calling India a "long-standing friend", Sri Lankan Prime Minister Mahinda Rajapaksa on Saturday thanked Prime Minister Narendra Modi for visiting his country in the aftermath of last year's Easter Sunday terror attacks and outlined that New Delhi has always helped Colombo in its fight against terrorism.
In a joint press briefing with PM Modi, Mahinda Rajapaksa said he hopes that India will continue to help Sri Lanka fight terrorism.
Mahinda Rajapaksa expressed his gratitude to PM Modi for the neighbourhood first policy and the priority India gives to Sri Lanka.
"We had agreed that our cooperation is multifaceted and priority is given to a number of areas including security, economy, culture and social sectors. Part of our discussions centered on cooperation with regard to the security of the two countries. India has always assisted Sri Lanka to enhance our capacity, capabilities in intelligence and counter-terrorism. We look forward to getting continued support in this regard," he said.
"I thank the Prime Minister for visiting Sri Lanka in the aftermath of the Easter Sunday terror attacks that provided us with immense strength to come to terms with the tragedy. We also appreciate Prime Minister Modi's $400 million line of credit to enhance the economy of Sri Lanka and another $50 million line of credit for fighting terrorism," he added.
The Sri Lankan president urged PM Modi to consider further assistance to expand housing projectS all over Sri Lanka to benefit people from rural areas.
"The Prime Minister and I discussed how Sri Lanka and India can work together in the field of economy. India is among the world's fastest growing economies. I discussed with PM Modi how Sri Lanka could benefit from certain economic sectors where India is in a strong position," he said.
Concluding his statement, Mahinda Rajapaksa said, "India is our closest neighbour and a long-standing friend. The close historical links...provided a solid foundation to our ties."
Ahmedabad, Jan 12: Union Home Minister Amit Shah on Saturday unveiled over 5.5 lakh postcards written by Ahmedabad residents to Prime Minister Narendra Modi, thanking him for the Citizenship (Amendment) Act.
The postcards were stacked on the dais as Shah addressed a gathering of BJP workers who formed letters `C A A’ in front of him.
The state BJP claimed that the party’s “largest awareness campaign” in support of the CAA had found a place in Limca Book of Records and World Record of India.
“It is not just words but a letter of thanks written from the heart. Our public outreach programme is a reply to the lies being spread against the CAA,” Shah said addressing BJP workers from his former Assembly constituency Naranpura.
The BJP had promised to enact the CAA in its manifesto, he said, asking why the Congress did not oppose it then.
Targeting Rajasthan Chief Minister Ashok Gehlot, Shah said, “Congress has a government in Rajasthan. The Congress party in that state had promised that Hindus and Sikhs from Pakistan would be given citizenship.
“Why do you oppose it when we fulfill the promise made by you?” the Union home minister asked.
“In 2006 and 2009, Ashok Gehlot wrote a letter for the same. We covered Hindus, Sikhs, Parsis, Christians, all of them under the Act, you had only mentioned Hindus and Sikhs,” Shah claimed.
Saying that Prime Minister Narendra Modi, by bringing in the CAA, granted “human rights to lakhs of people”, he asked why opposition was against it.
He challenged “Rahul Baba” (Congress leader Rahul Gandhi), Mamata Banerjee and Arvind Kejriwal to show if any provision of the CAA took away the citizenship of Indian Muslims.
“There is no such provision. Lakhs and crores of people have come to India from Pakistan, Bangladesh to save their religion, their self-respect, to save themselves. Where else will they go?” he asked.
“From the first prime minister of the country Jawaharlal Nehru to the first home minister, first president of the country, and Mahatma Gandhi himself had said that whoever comes to India from Pakistan will be granted citizenship. Hindus, Sikhs, Buddhists and Jains coming from Pakistan have nowhere else to go,” he said.
From this figure its clear that most of BJP mebers are aganst CAA, Becuase its below 0.5% from Indian population.
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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