Dialogue with Pak after new govt. settles down: Khurshid

June 28, 2013

Khurshid

Srinagar, Jun 28: India on Friday said the composite dialogue with Pakistan will be resumed after the new government in the neighbouring country settles down, and pending confidence building measures between the two countries are implemented.

“It is not good that we say everything right at the outset. The atmosphere is good at the moment. Let it improve further to be conducive for talks,” External Affairs Minister Salman Khurshid told reporters in Srinagar.

“Let them (the new government in Pakistan) settle down and understand their job, then we can resume it. However, there are some issues on which both the government and people expect some progress, and we will get some satisfaction from it. Then things can move on smoothly from there,” he said.

The focus of the government, at present, is to resume sectoral dialogue, whereby progress can be made on certain issues, Mr. Khurshid said after addressing Congress workers at the PCC office in Srinagar.

“Our formulation at the moment is to start a sectoral dialogue. The issues on which we can make forward movement, we will do that. There are some issues on which expecting some quick progress is not possible,” he said.

The External Affairs Minister said there are some confidence building measures which are to be implemented by both the countries to further improve the atmosphere.

“There are confidence building measures like the most favoured nation status (to India) which they had decided earlier, but has not been implemented yet and the new visa regime which we have announced and will enable travel of more people across the border is to be implemented. We can move forward one step at a time,” he said.

Mr. Khurshid said the composite dialogue with Pakistan made good progress and was successful, but some “unfortunate incidents” dealt a setback to the process.

“Talks with Pakistan had progressed a long way and were successful. The composite dialogue that we had started had made good progress. Unfortunately, some incidents took place which became a setback to our efforts and under compulsion, the process stopped,” he added.

The Minister said the government has positively viewed the statements made by Pakistan Prime Minister Nawaz Sharif about relations with India during his election campaign, which he reiterated after assuming office.

“Elections have taken place there under a democratic system and Prime Minister Nawaz Sharif, during his election campaign gave statements and hints, and reiterated them after assuming office. We seen them in positive light and we have responded accordingly,” he said.

On the fallout of the U.S. withdrawal next year from Afghanistan on India, Mr. Khurshid said Washington has assured assured that the talks with Taliban will stay within the “red lines” drawn for the purpose.

“When (U.S. Secretary of State John) Kerry was in New Delhi, he told us that as far as our reservations are concerned, no step will be taken that will harm our interests. Red lines have been drawn and we agree with them. Those (Taliban) who come to talk will believe in the constitution, they will down their arms and snap ties with al-Qaeda, if they have any.

“If they remain within these lines -- the U.S. has time and again said they will -- we think the talks can progress.

The basic thing which we have all agreed upon is that the talks should remain in control of Afghanistan as it is their internal matter,” he added.

Mr. Khurshid said the government has had detailed discussion with the U.S. and Afghan President Hamid Karzai on the issue of talks with Taliban.

“We have had a detailed discussion with the U.S. on the issue. We also talked about it with Mr. Karzai when he was here.We have spoken to other countries as well, like Saudi Arabia and the U.K.

“Right now, nobody knows whether the talks (between the US and Taliban) will succeed. Even the US has not expressed confidence that these talks will move forward. It is an attempt,” he said.

Mr. Khurshid said some things happened during the inaugurating of the Taliban office in Qatar, which were not liked by some people.

“We are (now) told these have been rectified,” he said.

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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 3,2020

New Delhi, Apr 3: Prime Minister Narendra Modi on Friday urged people to gather together for a unique exercise on April 5 at 9 pm to show they were together in the fight against coronavirus.

"On this Sunday, April 5, we will challenge the darkness of coronavirus threat together. On April 5, at 9 pm, I need your 9 minutes. At 9 pm, turn off all the lights in your houses and light a Diya, candle, torch or flashlight for 9 minutes at your doors, or balcony," Modi said.

The Prime Minister further said that this will send out a message that nobody among the 130 crore Indians is alone in this fight against the deadly infection.

"I have one more prayer to all of you, nobody has to gather at any place during this event. Everyone will light a Diya only at their doors, windows or balconies. The Laxman Rekha of social distancing must be followed," Modi said.
Earlier, the Prime Minister had said that 130 crore Indians are together in this fight against coronavirus and praised the countrymen for following the lockdown.

"Today when crores of people are inside homes, then some of us may think how will they fight this battle against COVID-19 alone. Such questions might come up in your mind? But please remember, none of us is alone. The strength of 130 crores of Indians is with each one of us," he said.

He also expressed gratitude towards countrymen for participating in 'Janata curfew' on March 22 and said it has become "an example for all countries" today as they are following it.

In his address to the nation on March 24, the Prime Minister had announced a 21-day lockdown in the country to contain the spread of novel coronavirus, which has infected over 2,000 people in the country.

During the last "Mann Ki Baat" on COVID-19 related issue, the Prime Minister had apologised to the countrymen for taking the tough decision of enforcing complete lockdown in the nation. "My conscience says you will forgive me," he had said.

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News Network
March 26,2020

New Delhi, Mar 26: Finance Minister Nirmala Sitharaman on Thursday announced a Rs 50 lakh insurance cover for healthcare workers who are at the forefront of dealing with coronavirus pandemic.

Sitharaman said the government has finalised an economic stimulus package to deal with the impact of 21-day countrywide lockdown to prevent spread of the virus.

“It’s only 36 hours since the lockdown has been imposed. Now we have come with a package which immediately take care of the welfare concerns of the poor and suffering workers and those who need immediate help,” Sitharaman said.

She also said that 80 crore poor people, nearly two thirds of the population  will get five kg of rice or wheat per month for three months, in addition to the 5 kg they already receive, for free."

The rationcard holders can take the foodgrains and pulses from the Public Distribution System (PDS) in two installments, she added.

"This measure will ensure no gareeb (poor) remains hungry," Sitharaman said.

The package will include cash transfer and food subsidy, she said.

"Farmers who currently receive Rs 6,000 annually, will be given the first installment of the next financial year immediately. 8.7 crore farmers will benefit from it," said Sitharaman.

As many of 20.5 crore women Jan Dhan Account holders will get Rs 500 per month for next three months to run their households.

For poor senior citizens, widow and disabled will get an ex-gratia of Rs 1,000.

Also, the daily wage under MNREGA has been increased to Rs 202 a day from Rs 182 to benefit 5 crore workers.

The minister said the government will front-load Rs 2,000 payment to farmers in the first week of April under the existing PM Kishan Yojana to benefit 8.69 crore farmers.

Also, the beneficiaries of Ujjwala LPG scheme will get free cooking gas for the next three months, she said.

This forms part of the Rs 1.70 lakh crore Gramin Kalyan Package.

Prime Minister Narendra Modi last week had constituted a task force headed by the Finance Minister to work out package for economy hit by coronavirus.

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