Terrorism one of the foremost threats to global peace, says Sushma

Agencies
April 5, 2018

Baku, Apr 5: Terrorism is one of the foremost threats to international peace and security as it maims and kills "our citizens", and undermines the ability to attain development goals, External Affairs Minister Sushma Swaraj said on Thursday.

Addressing the 18th mid-term ministerial meeting of the Non-Aligned Movement (NAM) here, Sushma also pushed for reforms of the United Nations Security Council.

She said that no effort to reform the UN will be complete without reforms of the United Nations Security Council.

India had been strongly pushing for completing the long-pending reforms of the powerful Security Council.

Sushma said that terrorism is one of the foremost threats to international peace and security.

"It maims and kills our citizens and undermines our ability to attain our development goals.

"Unfortunately, the talks about combating terrorism have not been matched by our actions. The strengthening and implementation, without double standards of existing international laws and mechanisms to fight the menace of terrorism is an imperative," the minister said.

The meeting was chaired by Jorge Arreaza, Foreign Minister of the Bolivarian Republic of Venezuela.

In 1996, India proposed a Comprehensive Convention on International Terrorism (CCIT) as a way to strengthen the existing legal framework. Yet after more than two decades, discussions have made little progress even while terrorists continue to operate with greater impunity and inhumanity, the minister said.

"As a first step, let us renew our commitment to finalise the CCIT. NAM countries must galvanise the international community towards this goal," Sushma said.

At the last UN General Assembly High Level segment, a strong desire was voiced by the international community for change and reforms at the United Nations, she said.

"To date, the Inter-Governmental Negotiation process, has been carefully nurtured into a credible collective process for negotiation on this important subject.

"The time has come to move to the next phase and commence text-based negotiations a demand made by an overwhelming majority of UN members including most NAM members," she said.

"India's support to the Palestinian cause has been a reference point of our foreign policy. At this juncture, this would be a good way for NAM to manifest its solidarity with the Palestinian people," Sushma said.

At the recent meeting in Rome to deal with the financial crisis faced by the United Nations Relief and Works Agency (UNRWA), India decided to increase its contribution to the UNRWA budget from $1 million to $ 5 million, on a multiple year basis, in view of the dire financial crisis that this body now faces.

"The challenges we face today such as nuclear escalation, armed conflict, refugee flows, terrorism, poverty and worsening environmental degradation all require more effective multilateralism. The fundamental values and principles on which the Non Aligned Movement is based are, therefore, even more relevant today.

"In 2015, we adopted the Sustainable Development Goals (SDGs) to find solutions of the developmental challenges we face. We also promised that no one will be left behind. Genuine global partnerships have to be forged if the SDGs are to be achieved. Financing for Development is, therefore, of utmost importance to NAM countries," Sushma said.

Protecting the environment of the planet is a moral responsibility. Global action on the basis of the principle of common but differentiated responsibilities and respective capabilities is now an even greater imperative, she said.

India along with France launched the International Solar Alliance through which more than 60 countries have joined to promote greater use of solar energy, she said.

"Finding energy sources that are cost-effective, environmentally sustainable will be vital for achieving our SDGs, while ensuring that we protect mother Earth for future generations," Sushma said.

NAM has been a votary of universal, non-discriminatory and verifiable nuclear disarmament and of pursuit of that goal through multilateralism.

India remains committed to the shared goal of the global elimination of nuclear weapons, Sushma added.

Comments

Abdullah
 - 
Thursday, 5 Apr 2018

Modi & RSS Terrprists are the Threat to Indian peace.

Wellwisher
 - 
Thursday, 5 Apr 2018

Mr.Sushma you are correct,  Please  brief your opinion and knowledge about terroris.

1. What is th meaning of terrorism

2. To whom you will call a terrorist

3. What to call the groups, which always ignite communal clash and attacke one inncoents

Hope you will give a respectful  explanation.

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News Network
March 5,2020

New Delhi, Mar 5: A Delhi court Thursday issued fresh death warrants for execution of the four convicts in the Nirbhaya gang rape and murder case for March 20 at 5.30 am.

Additional Sessions Judge Dharmendra Rana fixed March 20 as the new date of execution after it was told by the Delhi government that the convicts have exhausted all their legal remedies.

The lawyer for the four death row convicts also told the court that there was no legal impediment for the court to proceed in fixing the date of execution.

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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
July 16,2020

New Delhi, Jul 16: With the highest single-day spike of 32,695 cases and 606 deaths reported in the last 24 hours, India's COVID-19 tally on Thursday reached 9,68,876, informed the Union Ministry of Health and Family Welfare on Thursday.

The total number of COVID-19 cases includes 3,31,146 active cases, 6,12,815 cured/discharged/migrated and 24,915 deaths.

As per the Ministry, Maharashtra -- the worst-affected state from the infection -- has a total of 2,75,640 COVID-19 cases and 10,928 fatalities. While Tamil Nadu has a tally of 1,51,820 cases and 2,167 deaths due to COVID-19.

Delhi has reported a total of 1,16,993 cases and 3,487 deaths due to COVID-19.

Meanwhile, as per the information provided by the Indian Council of Medical Research (ICMR), 1,27,39,490 samples have been tested for COVID-19 till 15th July, of these 3,26,826 samples were tested yesterday.

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