We won't let triple talaq bill be passed in Rajya Sabha: Congress leader

Agencies
December 29, 2018

Kochi, Dec 29: The Congress party will not let the triple talaq bill be passed in its present form in the Rajya Sabha, AICC general secretary KC Venugopal said here on Saturday.

The party would join hands with those parties with which it can ally with to defeat the bill in the present form, he told reporters here.

He said 10 opposition parties had come out openly against the Muslim Women (Protection of Rights on Marriage) Bill, 2018 when it was introduced in the Lok Sabha.

Even the parties, including AIADMK which supports the government on various issues and the Trinamool Congress, have come out openly against the bill, said Venugopal who is also a Congress floor strategist.

Condemning the bill, he said stringent provisions like criminalisation of a civil wrong were there in the triple talaq bill and it was not at all acceptable for the opposition parties, including the Congress.

"...The bill will not help empower the women", Venugopal said.

The bill, passed by the Lok Sabha on Thursday, is expected to be considered by the Rajya Sabha next week.

He claimed there was no confusion in the Congress-led UPA or party-led UDF in Kerala regarding the bill.

Recalling the passage of the bill in another form in the Lok Sabha in 2017, the Alappuzha MP said the then government could not push the bill in the Upper House due to the stringent opposition from the Congress and other opposition parties.

"That is the reason why the government brought the ordinance and re-introduced the bill again in the Lok Sabha. But the Congress will oppose its passage in the present form in the Rajya Sabha," he said.

The Congress had earlier accused the NDA government of getting the triple talaq bill passed in haste in the Lok Sabha keeping in mind the 2019 general elections.

The party has said its provisions were against the Constitution as well as fundamental rights.

The Lok Sabha on Thursday passed the bill criminalising the practice of instant triple talaq, with the government rejecting the contention that it was aimed at targeting a particular community.

The opposition, which had been demanding that the bill be referred to a 'joint select committee', staged a walkout when its demand was rejected by the government.

The bill was passed by the Lower House with 245 voting in favour and 11 opposing the legislation.

It would now go to the Rajya Sabha for passage and if passed would become the law.

Piloting the bill, law minister Ravi Shankar Prasadhad said there should be no politics on the bill, stressing that it was not against any particular community.

Describing the passage of the triple talaq bill as a historic step to ensure equality and dignity of Muslim women, BJP chief Amit Shah had demanded apology from the Congress for decades of injustice.

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Abdullah
 - 
Sunday, 30 Dec 2018

Kade hoke mooth ke nehi done walon ku kya maloom shariyath k bare me? In logon ku nahane hamlogone sikaye. Khane ham logon ne sikaye. Ghosh aur Biriyani Khane hum logon ne sikaye. Dhang se kapde pehan ne hum logon ne sikakye. Building aur Imarathen hamara hai. Independent hum logon ne lade. Ab Hamare billi hame meyaon???!!!

 

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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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Agencies
July 30,2020

Ahead of the grand foundation stone-laying ceremony of the Ram Temple on August 5, Ayodhya priest and 16 police personnel, involved in the mega event on August 5, have tested positive for COVID-19. Priest Pradeep Das is one of the four priests who regularly perform puja at the Ram Temple site in Ayodhya.

Das has been placed under home quarantine and contact tracing is underway, reported.

Meanwhile, Uttar Pradesh police and Sashastra Seema Bal have been put on high alert in the districts bordering Nepal ahead of Prime Minister Narendra Modi's visit to Ayodhya on August 5.

PM Modi likely to launch postal stamps on Ram Temple, Ramayana during Ayodhya visit: Report
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On July 29, Uttar Pradesh reported a record single-day spike of 3,570 COVID-19 cases, taking the infection tally to more than 77,000, while 33 fresh fatalities pushed the death toll to 1,530.

"There are 29,997 active COVID-19 cases in the state and 45,807 patients have been discharged after treatment," Additional Chief Secretary, Medical and Health, Amit Mohan Prasad told reporters. "The death toll due to the disease has reached 1,530," he said.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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