Sonia did not want someone with independent mind as PM: Pawar

December 11, 2015

New Delhi, Dec 11: 'Self-styled' loyalists of 10, Janpath convinced Sonia Gandhi that it would be better to back P V Narasimsha Rao in 1991 as Prime Minister over him as the "Gandhi family was not about to let someone with independent mind" to get the top post, Sharad Pawar has claimed.

SHARAD PAWAR The loyalists including the late Arjun Singh, himself an aspirant for the prime minister's post played a "clever trick" to convince Sonia Gandhi in the decision to choose Rao over Pawar, says the NCP President, who became Defence Minister in Rao's cabinet.

Pawar has made these claims in his book 'Life on my terms-From the Grassroots and Corridors of Power', which was formally released in the presence of a galaxy of political leaders including Gandhi, Prime Minister Narendra Modi and the President and Vice President at a function to celebrate his 75th birth day, which is tomorrow.

He says that his name was considered for the top post in the party not only in Maharashtra but also in other states. He was personally more circumspect as he was aware that a lot depended on the inclination of 10 Janpath, where Sonia Gandhi resides.

"Though a senior leader, P V Narasimha Rao had withdrawn from mainstream politics for health reasons before the election. Given his long experience, there were suggestions to bring him back following the unforeseen exit of Rajiv," Pawar states in his book.

"Self styled loyalists of 10 Janpath started saying in private conversations that Sharad Pawar's election as prime minister would harm the First Family's interest in view of his young age.

"'Woh Lambi Race Ka Ghoda Hoga' (He will hold the reins for a very long time), they argued. Among them who played a clever trick were M L Fotedar, R K Dhawan, Arjun Singh and V George.

"They convinced Sonia Gandhi that it would be safer for her to back Narasimha Rao because he was old and not in a good shape. Arjun Singh himself aspired to become prime minister and hoped to succeed Rao soon. Anyway, once Sonia Gandhi had bought the coterie's 'bring Rao' argument in 1991, the tide turned against me," Pawar says.

Rao was ultimately chosen over Pawar who had secured a lead of over 35 votes. Later P C Alexander, a former principal secretary to Indira Gandhi and close confidant of the family,BROKERED a meeting between him and Rao with an offer of top three portfolios.

"He (Alexander) and I knew that I had been a strong contender but Gandhi family was not to let someone with independent mind to get to the Prime Minister's post," adds Pawar.

In another chapter, the Maratha leader, who was then Leader of the Congress in Lok Sabha, says ahead of voting on no-confidence motion against A B Vajpayee's government in 1997, he had told BSP chief Mayawati that it would be in her party's interest if she voted against the government.

In April, the AIADMK withdrew its support of 18 MPs after the Vajpayee government refused to accept the demands made by its chief J Jayalalitha.

Pawar states that the motion of no-confidence motion was put to voice vote and the Speaker declared it passed but the opposition demanded on division of votes.

"After the speaker announced division of votes, the Parliament staff took sometime to close the doors and activate the voting machinery. During those few minutes I took the BSP chief Mayawati aside and had a word with her. The BSP had five MPs and there was an intense speculation on what stand it would take.

"When the electronic machine displayed that the Vajpayee government had lost by just one vote, everyone got into a guessing game on who voted on which side. Those who had noticed me talking to Mayawati before the voting pressed me to clarify. However, I thought it prudent to keep mum. Even after so many years I am asked about what transpired between Mayawati and me.

"Well let me put this way. I just impressed upon her that BSP's interest in Uttar Pradesh would be best served if she voted against the Vajpayee government. Amen!" says Pawar.

At the last minute, the BSP had decided to vote against the government in the motion.

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News Network
March 11,2020

New Delhi, Mar 11: Congress leader Rahul Gandhi on Wednesday accused Prime Minister Narendra Modi of “destabilising” the elected Congress government in Madhya Pradesh.

Gandhi also said the PM may have “missed” noticing the 35 per cent crash in global oil prices and asked him to pass on the benefit to Indians by slashing petrol prices.

“Hey @PMOIndia, while you were busy destabilising an elected Congress Govt, you may have missed noticing the 35 per cent crash in global oil prices.

“Could you please pass on the benefit to Indians by slashing #petrol prices to under 60 per litre? Will help boost the stalled economy,” the former Congress chief said on twitter.

Congress' prominent youth leader Jyotiraditya Scindia quit the party on Tuesday and appeared set to join the BJP amid a rebellion in Madhya Pradesh by his supporters, pushing the 15-month-old Kamal Nath government to the brink of collapse.

On Tuesday morning, as much of India was celebrating Holi, Scindia met senior BJP leader and Union Home Minister Amit Shah, following which he called on Prime Minister Narendra Modi at his 7, Lok Kalyan Marg residence.

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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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News Network
April 17,2020

New Delhi, Apr 17: With 1,076 new cases of COVID-19 in the last 24 hours and 32 deaths, India's total count of coronavirus cases has surged to 13,835, said the Union Ministry of Health and Family Welfare on Friday.

The total cases are inclusive of 1,766 cured and discharged patients, one migrated and 452 deaths. At present, there are 11,616 active COVID-19 cases in the country.

Before the lockdown, the doubling rate of COVID-19 cases was about three days, but according to the data of the past 7 days, the doubling rate of cases now stands at 6.2 days, said Lav Aggarwal, Joint Secretary, Health and Family Welfare.

"Before the lockdown, doubling rate of COVID-19 cases was about three days but according to the data of past 7 days, the doubling rate of cases now stands at 6.2 days," Aggarwal said during the daily briefing on COVID-19.

Aggarwal said that as many as 5 lakh rapid antibody testing kits are being distributed to States and Districts where a high case burden has been observed.

"A total of 1,919 dedicated COVID-19 hospitals with 1.73 lakh isolation beds, 21,800 ICU beds readied in India," he added. 

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