'When decision is right, its echo is heard across globe': PM in Bangkok

News Network
November 3, 2019

Bangkok, Nov 3: India has eliminated a big reason behind sowing of seeds of terrorism and separatism, Prime Minister Narendra Modi said here on Saturday, in a clear reference to abrogation of Article 370 from Jammu and Kashmir and reorganisation of the state.

The Prime Minister's remarks on Kashmir at an Indian diaspora meet in this bustling Thai capital city were greeted with laud applause and a standing ovation by around 5,000 people. "You are aware that India has decided to eliminate a big reason behind sowing of seeds of terrorism and separatism," Modi said.

"When a decision is right, its echo is heard across the globe. And I can hear it in Thailand as well," he said at the 'Sawasdee PM Modi' event at an indoor stadium in central Bangkok. The government has been maintaining that Article 370 providing special status to Jammu and Kashmir was a reason behind terrorism and separatism in the state.

As people stood up and hailed his remarks, Modi said the standing ovation was for India's Parliament and parliamentarians and that their blessings will further energize Indian lawmakers to work harder for the nation. "Your standing ovation will further energize our Parliamentarians. It is a salute to India's Parliament," he said.

In his nearly 50-minute speech Modi also spoke on a range of issues including the welfare measures rolled out by his government, his return to power with a bigger mandate in the Lok Sabha elections, strength of the Indian economy, importance of Indian diaspora in overall growth of the country and how India is emerging as a "major power" globally.

Modi said his government was working to fulfil those aspirations which seemed impossible earlier, adding people's expectations go up from those who work. "People want more work from those who deliver. Their expectations go up from those who work," he said, drawing another round of laud applause.

PM Modi also highlighted India's Act East policy and the importance of the country's ties with 10-nation ASEAN grouping, besides referring to historical linkages between India and Thailand. The prime minister, on a three-day visit here, will address the annual ASEAN-India summit on Sunday. In his address, Modi also traced historical and cultural links between India and Thailand, saying the relationship has been of “heart and soul”.

Noting that Indo-Thai relationship reflects greater amalgamation of cultural bonds, he said his government has been focusing on enhancing the North Eastern region's connectivity with Thailand. "Once the India-Myanmar-Thailand trilateral highway is thrown open, there will be seamless connectivity between both our countries," Modi said.

"This is my first official visit to Thailand, and I can see a lot of Indianness in various aspects in this country—be it culture, food habits or social values...The entire world celebrated Diwali along with India, and I can see that it was the case here too," he said.

The Prime Minister also talked about the Thai royal family's ties with India and even said that Queen Maha Chakri Sirindhorn is a Sanskrit scholar with a deep connect with India. "The affinity and closeness the Thai royal family has for India reflected the strong historical relationship between the two countries,” he said.

In his speech, Modi also talked how the government is celebrating 550th birth anniversary of Guru Nanak, the founder of Sikhism, and said his teachings were a treasure for not only the Sikh community but for the whole world.

Modi also talked about the Kartarpur Corridor and said pilgrims will be able to visit Gurudwara Kartarpur Sahib in Pakistan once the corridor is thrown open next week. The much-awaited corridor will connect Darbar Sahib in Pakistan's Kartarpur - the final resting place Guru Nanak - with Dera Baba Nanak shrine in India's Gurdaspur district.

Talking about various reform initiatives undertaken by his government, Modi said Indians across the globe feel proud about the changes taking place in India in the last five years. “When India speaks, the whole world listens to it because 1.3 billion Indians are involved in building a new India. Because of the changes, people of India have given us bigger mandate in the Lok Sabha polls then earlier,” he said.

The Prime Minister also said India was among the fastest growing economies in the world and that the country is working hard to become a USD 5 trillion economy in next five years. Modi also said that his government decided that holders of the Overseas Citizens of India card can enrol for the new pension scheme, adding his government is also working hard to significantly improve visa consular services abroad.

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News Network
March 19,2020

Mar 19: Amidst spiralling cases of COVID-19 in the country, Union Minister of State for Health and Family Welfare Ashwini Kumar Choubey on Thursday advocated "absorbing sunlight" as a possible precaution against coronavirus that has claimed over 8,000 lives globally.

Speaking to reporters outside parliament, Choubey said 10-15 minutes in the sun would build immunity as sunlight provides Vitamin D.

"From 11 am to 2 pm the sun is shining brightly. We should spend at least 10-15 minutes to absorb sunlight so that we get vitamin D which improves the immunity of our body and also kills such viruses. All should be aware of (this fact)," he said when asked about the spread of coronavirus.

COVID-19 cases in India climbed to 169 on Thursday after 18 fresh cases were reported from various parts of the country, according to the Union health ministry.

The cases include 25 foreign nationals -- 17 from Italy, 3 from the Philippines, two from the UK, one each belonging to Canada, Indonesia and Singapore.

The figure also includes three deaths reported from Delhi, Karnataka and Maharashtra so far.

According to the World Health Organisation, the novel coronavirus has killed over 8,000 people globally and infected more than two lakh.

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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
February 12,2020

New Delhi, Feb 12: Delhi Chief Minister-designate Arvind Kejriwal was on Wednesday elected as the leader of AAP legislative party, a day after he led the party to an emphatic victory in the Delhi Assembly elections.

Kejriwal was elected as the AAP legislative party leader during a meeting called by him with the newly-elected party MLAs. The meeting was held at the AAP chief's residence.

Atishi, AAP's winning candidate from Kalkaji constituency said after the meeting, "It is definitely a validation of the work that has been done by AAP in the last five years, be it education, health care, water or electricity."

Kejriwal is slated to take oath as the Delhi Chief Minister for the third time at Ramlila Maidan on February 16.

AAP galloped to a landslide victory by winning 62 of the 70 seats in the Delhi Assembly elections in the face of a high-voltage campaign by the BJP, which fielded a battery of Union Ministers and Chief Ministers in its electioneering, spearheaded by Home Minister Amit Shah.

The BJP marginally improved its tally, managing just eight seats from its 2015's tally of three seats. The Congress, which drew a blank in the previous elections, failed to open its account yet again.

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