RS ticket denial may signal end of Krishna's career

June 10, 2014

Bangalore, Jun 10: AICC vice president Rahul Gandhi has stuck to his stand of giving opportunities to young leaders and bid goodbye to old-timers in elections. The party has chosen M?V?Rajeev Gowda over one of its oldest leaders and former union minister S?M?Krishna as its candidate for the Raj­ya Sabha elections from the State.

krishnaGowda, 50, teaches economics at Indian Institute of Management, Bangalore. He is among the AICC’s panel of 40 to 50 spokespersons. The sitting RS member Krishna is 83. Till three days ago, there was no doubt about the candidature of Krishna.

However, suddenly there was a change in the thinking of the high command and Rahul stuck to his stand of not encouraging leaders who are aged more than 75 to become MPs.

Congress insiders see the party’s decision against fielding Krishna for the RS?polls at the end of his long political career. He had served in public life in various capacities in the last five decades. He has served as union minister, Speaker of the Legislative Assembly, State Congress president, chief minister of Karnataka and Governor of Maharashtra. With bleak chances of Congress coming to power at the Centre in the near future, there is no scope for him to occupy any prime position, it is said. Krishna, who was in Bangalore, remained incommunicado.

Ever since his resignation as the external affairs minister in October 2012, Krishna has been keeping a low profile in the party. The party, too, did not involve him much in both the Assembly and Lok Sabha elections. So much so that it refused to give tickets to contest the Assembly elections to many of his followers, including Ravindra Srikantaiah from Srirangapatna.

Rajeeva Gowda, son of former Assembly Speaker the late M V Venkatappa, holds a doctor of philosophy (PhD) in Public Policy and Management from the Wharton School, University of Pennsylvania, USA.

Gowda had aspired to contest the recent Lok Sabha polls from Bangalore North constituency. He unsuccessfully contested the internal elections (also called primaries) conducted by the party to choose the candidate for the constituency.

C?Narayanaswamy won the internal polls and became the candidate, but could not win the seat. Many senior party leaders were taken by surprise over Gowda’s lobbying for a ticket in Delhi. They presumed that at the most, he may become an MLC.

The party had given preference to youth in most cases while fielding candidates for the Lok Sabha elections in the State. Former union minister and leader of the minorities C K Jaffer Sharief’s plea for a ticket to contest from Bangalore Central constituency was overlooked by the party. Instead, youth Congress leader Rizwan Arshad was fielded. But, Arshad lost the elections.

The party did not budge from its stand, despite Sharief threatening to join the JD(S). He went to the extent of resigning from the party membership, but the Congress remained undeterred. Many old-timers in the party fear that they would meet the same fate in the coming days.

Senior leader M V Raja­sekharan said Rajya Sabha is the House of Elders. “Presence of experienced leaders like S M Krishna is necessary in the Upper House. I hope the party will utilise the experience of Krishna in the coming days,” he said.

Parameshwara, who is a follower of Krishna, said he has been pained by the party’s decision not to field Krishna and expressed hope that he will be given a suitable position in the coming days.

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Agencies
August 7,2020

New Delhi, Aug 7: India's COVID-19 cases tally crossed 20 lakh mark with the highest single-day spike of 62,538 cases on Friday, said Union Ministry of Health and Family Welfare.

The COVID-19 tally rises to 20,27,075 including 6,07,384 active cases, 13,78,106 cured/discharged/migrated and 41,585 deaths, according to the Ministry of Health.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far. 

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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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News Network
February 18,2020

New Delhi, Feb 18: Election strategist-turned-politician Prashant Kishor on Tuesday questioned the Nitish Kumar government's development model, even as he sneered at the chief minister for making ideological compromises to stay in an alliance with the BJP.

Kishor, who has been vocal about his opposition to the Citizenship (Amendment) Act (CAA), said Kumar needs to spell out whether he is with the ideals of Mahatma Gandhi or those who support Nathu Ram Godse.

"Nitish ji has always said that he cannot leave the ideals of Gandhi, JP and Lohiya... At the same time, how can he be with the people who support the ideology of Godse? Both cannot go together. If you want to stay with the BJP, I don't have any problem with it but you cannot be on both sides," he said.

"There has been a lot of discussion between me and Nitish-ji on this. He has his thought process and I have mine. There have been differences between him and me that the ideologies of Godse and Gandhi cannot stand together. As the leader of the party you have to say which side you are on," he added.

In a direct assault on Kumar's model of governance, Kishor said Bihar was the poorest state in 2005 and continues to be so.

"There has been development in Bihar during the last 15 years, but the pace has not been as it should have," he added.

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