Govt invoked Section 7 of RBI Act after Allahabad HC orders: Source

Agencies
November 28, 2018

New Delhi, Nov 28: The central government's decision to invoke Section 7 of the Reserve Bank of India (RBI) Act was taken in compliance with directions from the Allahabad High Court, a source confirmed.

The source close to the matter told ANI that it was the Allahabad High Court which directed the Finance Ministry to invoke Section 7 on August 27, 2018. This comes after Governor Urjit Patel did not directly answer questions on Section 7 and said he will file a written response regarding it and other controversial issues, including demonitisation, within 15 days during his meeting with the Parliamentary Standing Committee on Tuesday.

The source, under the condition of anonymity, said that the government had never contemplated invoking the section and were only complying with the court orders delivered in the case of Independent Power Producers Association of India V/S Union of India and five others.

According to Section 7(1) in The Reserve Bank of India Act, 1934, "The Central Government may, from time to time, give such directions to the RBI as it may after consultation with the Governor of the Bank consider necessary in the public interest."

The Allahabad HC bench, headed by Chief Justice Dilip B Bhosale and Justice Yashwant Varma, had directed the Finance Ministry to consider initiation of the consultative process, contemplated under Section 7 of RBI Act, and conclude it within 15 days.

The source clarified that the section was invoked for the first time in the matter involving the Independent Power Producers, who, by virtue of their accumulated debts, fell under the regulations of the Insolvency and Bankruptcy Code (IBC).

The source further stated that the Allahabad HC orders paved a way for the government to invoke Section 7 in future public issue. The second time Section 7 was invoked was on October 10 when the government sought the RBI Governor's views on surplus reserves. The section was invoked for a third time to relax the Prompt Corrective Action (PCA) framework for the 13 state-run banks.

Surplus reserves and relaxing of PCA norms were discussed in the RBI Board meeting held on November 19. In a press statement released after the meeting, the RBI said that its Central Board discussed the Basel regulatory capital framework, a restructuring scheme for stressed MSMEs, bank health under Prompt Corrective Action (PCA) framework and the Economic Capital Framework (ECF) of RBI.

The Board decided to constitute an expert committee to examine the ECF, the membership and terms of reference, which will be jointly determined by the central government and the RBI. With regard to banks under PCA, it was decided that the matter will be examined by the Board for Financial Supervision of RBI.

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Agencies
July 23,2020

Ayodhya, Jul 23: All 32 accused in the Babri mosque demolition case should be invited to the "bhumi pujan" ceremony for the construction of the Ram temple here and honoured, a Hindutva outfit leader has said.

Hindu Dharma Sena president Santosh Dubey is one of the main accused in the case.

Dubey also insisted that the Shri Ram Janmabhoomi Teertha Kshetra Trust must also invite all the four Shankaracharyas to the ceremony planned on August 5.

Prime Minister Narendra Modi is also likely to attend the event.

"The office bearers of Ram Janmabhoomi Teerth Kshetra must ensure that along with all 32 accused in the Babri mosque demolition case, the families of the kar sevaks who gave their lives in the Ram Temple movement must also be invited to the 'bhumi pujan' ceremony and must be honoured there," Dubey told PTI.

The top court verdict in favour of the Ram temple at the site would not have been possible had the Babri mosque not been demolished, he said.

"If the Trust does not invite the kar sevaks, it will a display of ego and arrogance. Without inviting the kar sevaks who have been accused in Babri mosque demolition and the families of the slain kar sevaks, the 'bhumi pujan' will remain incomplete," Dubey added.

A special CBI court in Lucknow is recording the statements of the 32 Babri demolition accused under section 313 of the CrPC, which enables them to plead their innocence, if they so want.

The court is conducting day-to-day hearings to complete the trial by August 31 as directed by the Supreme Court.

The mosque in Ayodhya was demolished on December 6, 1992 by 'kar sevaks' who claimed that an ancient Ram temple had stood on the same site. Former deputy prime minister L K Advani and BJP leader Murli Manohar Joshi were leading the Ram temple movement at that time.

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News Network
April 30,2020

Hyderabad, Apr 30: A 45-day-old baby boy, who tested positive for COVID-19 when he was 20-days-old, was discharged from a state-run hospital here on Wednesday after his full recovery.

The baby from Mahabubnagar, who contracted the infection from his father, was 20-days-old at the time of admission (on April 4), a COVID-19 bulletin said.

He was discharged after being cured, it said. The baby, probably the youngest to contract the infection in the country, was treated at the state-run Gandhi hospital in the city.

State Health Minister E Rajender expressed happiness over the baby being discharged after recovery.

An official release said 35 people were discharged today and 13 of them were children.

Those who were discharged thanked the doctors and medical personnel of the hospital and the minister has lauded the doctors and other medical staff for their efforts, it said.

Among those undergoing treatment at the hospital, 10 are being treated in the ICU.

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News Network
June 11,2020

New Delhi, Jun 11: Union Minister Kiren Rijiju on Thursday said the religious and constitutional rights of minorities are absolutely safe in India and it does not need any certificate from anyone as communal harmony and tolerance are in the DNA of the country and its majority community.

Comments of Rijiju, a Buddhist, came after a top Trump administration official has said that the US is very concerned about what is happening in India in terms of religious freedom.

"India doesn't need certificate on communal harmony and tolerance which is in the DNA of India and the majority community in India," Rijiju, who holds the charge of the Union minister of state for minority affairs besides being the union sports minister, said in a statement.

Rijiju said the social, religious and constitutional rights of minorities are absolutely safe in the country.

"A few politically intolerant people are trying to create an atmosphere of fear and intolerance. As a member of the minority community, I feel India is the best country in the world for the minorities," he said.

Samuel Brownback, the US Ambassador-at-Large for International Religious Freedom, said on Wednesday that India has been a country area that spawned four major religions itself.

"We do remain very concerned about what's taking place in India. It's historically just been a very tolerant, respectful country of religions, of all religions," he said.

The trendlines have been troubling in India because it is such a religious subcontinent and seeing a lot more communal violence, Brownback said.

His comments came after the release of the '2019 International Religious Freedom Report'.

Mandated by the US Congress, the report documenting major instances of the violation of religious freedom across the world was released by Secretary of State Mike Pompeo at the State Department.

India has previously rejected the US religious freedom report, saying it sees no locus standi for a foreign government to pronounce on the state of its citizens' constitutionally protected rights.

"India is proud of its secular credentials, its status as the largest democracy and a pluralistic society with a longstanding commitment to tolerance and inclusion", the government had said earlier.

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