Aramco in talks for 25% of Reliance's refining, petrochemical units: Report

Agencies
April 17, 2019

Apr17: Saudi Aramco, the world's largest crude oil producer, is in "serious discussions" to acquire up to a 25 percent stake in Reliance Industries' refining and petrochemicals businesses, the Times of India reported on Wednesday.

A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company's refining and petrochemicals businesses at around $55 billion to 60 billion, the report said.

The agreement on valuation could be reached around June, the Indian newspaper reported, citing people with knowledge of the development. Goldman Sachs is said to have been mandated to advise on the proposed deal, the report added.

Aramco's interest in the operator of the world's biggest refining complex comes after Saudi Arabia's Crown Prince Mohammed bin Salman's visit to Delhi in February when he said he expected investment opportunities worth more than $100 billion in India over the next two years.

Separately, Saudi Aramco's Chief Executive Officer Amin Nasser had met Reliance Chairman Mukesh Ambani to discuss the Saudi state-owned company's businesses including crude, chemicals and non-metallics.

Aramco and Reliance were not available for comment outside business hours.

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News Network
June 24,2020

New Delhi, Jun 24: Over 1,500 urban and multi-state cooperative banks will be brought under the supervisory power of the Reserve Bank of India (RBI), said Union Minister Prakash Javadekar on Wednesday.

"Government banks, including 1,482 urban cooperative banks and 58 multi-state cooperative banks, are now being brought under supervisory powers of Reserve Bank of India (RBI); RBI's powers as they apply to scheduled banks will apply for cooperative banks as well," Javadekar said at a press conference, through video conferencing.

"The decision to bring 1,540 cooperative banks under RBI's supervision will give an assurance to more than 8.6 crore depositors in these banks that their money amounting to Rs 4.84 lakh crore will stay safe," he added.

The Minister of Information and Broadcasting further said that the Union Cabinet has approved a scheme "for interest subvention of 2 per cent to Shishu loan category borrowers under Pradhan Mantri Mudra Yojana, outstanding as on March 31, 2020, for one year to eligible borrowers."

The Minister also said that the Union Cabinet has approved the declaration of Kushinagar Airport in Uttar Pradesh as an international airport.

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News Network
January 8,2020

Meerut, Jan 8: Hangman Pawan Jallad, who officials say is being considered to carry out the execution of the four Nirbhaya gangrape case convicts, on Tuesday said he is ready for the job which will send out a strong message in the society.

He said executing those who were involved in the horrific crime will bring "great relief" to him, Nirbhaya's parents and everybody else.

Earlier in the day, a Delhi court issued death warrants against all the four convicts in the Nirbhaya gangrape-murder case and ordered that they are hanged on January 22 at 7 am in Tihar jail.

The death warrant, also known as a black warrant, addressed to the office of the Tihar jail chief, was issued by Additional Sessions Judge Satish Kumar Arora against Mukesh (32), Pawan Gupta (25), Vinay Sharma (26) and Akshay Kumar Singh (31).

"I do not have any information regarding the execution, nobody has spoken to me yet. If anyone approaches me, I am ready to do the job. Earlier, I was asked to be ready for the execution on December 16," Pawan Jallad told reporters here.

"Those who were involved in this brutal incident must be hanged, which will send out a strong message in the society," he said.

"Hanging the Nirbhaya gangrape case convicts will certainly bring great relief to me, her parents and everybody else," he added.

Nirbhaya, a 23-year-old paramedic student, was gang-raped and brutalised on the intervening night of December 16-17, 2012, inside a moving bus in south Delhi by the four men, along with two others, before being dumped on the road.

She died on December 29, 2012, at Mount Elizabeth Hospital in Singapore.

Of the six persons convicted, one allegedly committed suicide in jail and another, a juvenile, was released from a reformation home after serving a three-year term.

When contacted, Jail Superintendent of Meerut prison V P Pandey said he has not yet received any letter from Tihar authorities.

"Last month, we had received a letter asking us to keep Pawan Jallad ready but there is no fresh communication. The Delhi court warrants were issued this evening, maybe we will get the letter for sending him by tomorrow (Wednesday)," he said.

The gangrape of 23-year-old, who came to be known as 'Nirbhaya', the fearless one, sparked outrage across the country. Repulsed, people took to the streets across the country, demanding justice for her and better safety measures for women.

The case led to toughening of India's rape laws.

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Agencies
January 4,2020

New Delhi, Jan 4: "Sovereign, socialist, secular, democratic republic" is how India is referred to in the preamble of the Constitution. However, J Nandakumar, a key RSS leader and All India Convenor Prajna Pravah, a Sangh offshoot, wants India to reconsider the inclusion of the word "secular", claiming secularism is a "western, Semitic concept".

In an exclusive interview to news agency, Nandakumar said: "Secularism is a western, Semitic concept. It came into existence in the West. It was actually against Papal dominance."

He argued that India does not need a secular ethos as the nation has moved "way beyond secularism" since it believes in universal acceptance as against the western concept of tolerance.

The RSS functionary on Thursday released a book here named "Hindutva in the changing times". The book launch event was also attended by senior RSS functionary Krishna Gopal.

Nandakumar, who has attacked the Mamata Banerjee government in his book for alleged "Islamisation of West Bengal", told IANS: "We have to see whether we need to put up a board of being secular, or that whether we should prove this through our behaviour, actions and roles."

It is for society to take a call on this, rather than by any political class, on whether the preamble to the Indian Constitution should continue to have the word "secular" in it or not, he added.

In between signing his books and obliging wannabe Hindutva cadres with selfies, Nandakumar said that the very existence of the word "secular" in the preamble was not necessary and how the constitution founders too were against it.

"Baba Saheb Ambedkar, Ladi Krishnaswamy Aiyaar -- all debated against it and said it (secular) wasn't necessary to be included in the preamble. That time it was demanded, discussed and decided not to include it," he said.

Ambedkar's opinion was, however, disregarded when Indira Gandhi "bulldozed" the word "secular", in 1976, said the head of the Prajna Pravah, an umbrella body of several right-wing think-tanks

As Nandakumar prepared to return to his base in Kerala, where, he emphasises, the RSS has its work cut out in the "fight against the Kunnor model", he said that the inclusion of "secular" was done with the intent to damage the concept of Hindutva.

"It was to demolish, destroy the overarching principle of Hindutva that binds us together", he said.

Asked whether the Sangh would pressurise the BJP, which has 303 seats in the Lok Sabha, to omit "secular" from the Constitution preamble, Nandakumar smilingly refused to reply.

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