Heads of 11-PSBs to appear before par panel on Tuesday

Agencies
June 24, 2018

New Delhi, Jun 24: Heads of 11-state-owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday, sources said.

They will be appearing before the Standing Committee on Finance, headed by veteran Congress leader M Veerappa Moily, which is looking into 'Banking Sector in India- Issues, Challenges and the Way Forward, including Non- Performing Assets/ Stressed Assets in Banks/Financial Institutions'.

Top officials of IDBI Bank, UCO Bank, Central Bank of India, Bank of India, Indian Overseas Bank, Dena Bank, Oriental Bank of Commerce, Bank of Maharashtra, United Bank of India, Corporation Bank and Allahabad Bank, will make presentations before the panel and respond to queries on June 26, said sources.

The banking sector is grappling with rising non-performing assets (NPAs), which touched Rs 8.99 lakh crore or 10.11 per cent of total advances at December-end 2017.

Of the total gross NPAs, the public sector banks accounted for Rs 7.77 lakh crore.

The rising number of frauds has become a serious cause for concern.

The number of frauds reported by banks increased from 4,693 in fiscal 2015-16 to 5,904 in 2017-18. The fraud amount at end-March 2018 was Rs 32,361.27 crore, up from Rs 18,698.8 crore at the end of 2015-16.

Earlier this month, RBI Governor Urjit Patel had replied to host of questions asked by the committee members.

Patel, sources had said, was asked about bad loans, bank frauds, cash crunch and other issues.

They also said he assured the panel members that steps were being taken to strengthen the banking system.

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Agencies
March 12,2020

Mumbai, Mar 12: In what appears to be the worst trading session in the Indian stock markets, the benchmark BSE Sensex crashed over 2900 points to end below the 33,000-mark.

The Sensex crashed 2,919.26 points to end at 32,778.14. So far it has touched an intra-day low of 32,530.05 points.

The Nifty50 on the National Stock Exchange also lost nearly 850 points so far. It plunged 868.25 points to 9,590.15.

The plunge was in line with the global markets as all Asian indices also traded in the red after the World Health Organization (WHO) declared coronavirus a global pandemic following which the Dow Jones Industrial Average also slumped significantly on Wednesday.

The bear run in both the global and domestic markets has continued off late on concerns of the coronavirus outbreak severely impacting the global economy. It has also raised calls for government intervention and support.

Central banks in several countries, including the US Federal Reserve have announced emergency rate cuts to boost sentiments. However, the concerns have only deepened in the past few days as the number of COVID-19 cases across the world has increased.

Further, following the rout in the global markets oil prices also fell on Thursday with the Brent crude trading around $34 per barrel.

The Indian rupee also felt the pressure and touched a 17-month low of 74.34 per dollar in its initial trade.

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News Network
April 26,2020

New Delhi, Apr 26: Medical services at Babu Jagjivan Ram Hospital in Jahangirpuri area have been closed and the hospital is being sanitised after 44 staff members including doctors were tested positive for COVID-19, Delhi Health Department said on Saturday.

"Total 44 staff members including doctors at Babu Jagjivan Ram Hospital in Jahangirpuri area of Delhi have tested positive for COVID-19. Test reports of other staff members are awaited. Hospital's medical services have been closed and the hospital is being sanitized," Delhi Health Department said.

Earlier today, Delhi Health Minister Satyendar Jain informed that there are 2,625 coronavirus cases in Delhi, out of which 111 were reported yesterday.

The total number of active cases in the national capital stands at 1,518 while 869 people have recovered so far, the minister further informed. There have been 54 deaths in the national capital, as per the Union Health Ministry.

A total of 26,496 confirmed cases of COVID-19 have been reported in India, including 19,868 active cases, the Ministry of Health and Family Welfare said on Sunday.

824 people have lost their lives due to the infection in the country.

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News Network
January 15,2020

Kolkata, Jan 15: The arrows of Mahabharata's Arjuna had atomic power, claimed West Bengal Governor Jagdeep Dhankhar, drawing sharp criticism from academicians, even as he joined a long list of politicians who have in recent years given bizarre interpretations linking mythology with science.

Speaking at the 45th Eastern India Science Fair and 19th Science and Engineering Fair on Tuesday, Dhankhar also claimed that flying objects existed during the period of Ramayana.

"It is said that the plane was invented in 1910 or 1911, but if we delve into our old scriptures we will see in Ramayana, we had 'uran khatola' (aircraft)," he said.

"Sanjaya narrated the entire war of Mahabharata (to Dhitarasthra) not from TV. The arrows of Arjuna in Mahabharata had atomic power in it," Dhankhar said, asserting that the world can no longer afford to ignore India.

According to Sanskrit epic Mahabharata, Sanjay, even after staying away from the battlefield, had narrated what was happening there to Dhritarashtra, who was blind.

Dhankhar, who has been in news for clashes with the Mamata Banerjee government ever since he assumed office in July last year, joins politicians such as Tripura Chief Minister Biplab Deb and UP deputy chief minister Dinesh Sharma to give odd interpretations of mythology.

While Deb had claimed that the internet existed during Mahabharata, Sharma suggested that godess Sita was a test tube baby.

Recently, Puducherry Lt Governor Kiran Bedi was trolled online for sharing a doctored video that claimed, "NASA recorded sound of sun -- Sun chants Om".

Indologist Nrisingha Prasad Bhaduri said governors appointed by the BJP government at the Centre are delving into everything and behave "as if they are know-alls".

"They fail to understand one thing that great writers have very strong power of imagination," Bhaduri said.

Scientist Sandip Chakraborty said such comments only hurt the scientific progress in India at the global forum.

"The ancient writers described all these things based on their imagination. It is true that India made a lot of progress during the ancient period, but such comments only damages the progress made by our scientific community," he said.

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