Indians Should Be Concerned, Says Ex-RBI Governor Rajan on Patel's Resignation

Agencies
December 11, 2018

New Delhi, Dec 11: With RBI Governor Urjit Patel putting in his papers, his immediate predecessor Raghuram Rajan Monday said “all Indians” should be concerned as the strength of institutions is important for growth and development.

Patel, who faced the possibility of an unprecedented action from the government over differences on a variety of issues, resigned from his job, citing personal reasons.

“I think Dr Patel has made a statement and I think this is the ultimate statement that a regulator or a civil servant can make. I think the statement should be respected,” Rajan told news channel ET Now.

“We should go into the details as to why there was an impasse, which forced this ultimate decision,” he noted.

“I think, this is something that all Indians should be concerned about because the strength of our institutions is really important for our growth, sustainable growth and equity in the economy,” said Rajan, who completed his three-year term as RBI governor in September 2016.

With regard to powers of the RBI Board, Rajan said there is “an extreme” change in the nature of the governance of the Reserve Bank of India for the “board to become an operational board, that is to make operational decisions”.

During his tenure, Rajan had differences with the government and did not get an extension.

Earlier, the board was an advisory and the professionals from the central bank took decisions, Rajan said, apparently referring to recent appointments of RSS ideologue S. Gurumurthy and cooperative banking sector expert S.K. Marathe to the board.

“I think, the move towards giving the board more operational authority would impinge on the professional management to regulate and supervise (the bank)… and if that is to be the case then the board should be composed of professionals, as opposed to the larger public,” Rajan opined.

Patel’s resignation was being speculated right from the time the government cited a never-before-used provision of the RBI Act to get him to consider its views on relaxing lending norms for segments such as small and medium enterprises, the appropriate size of reserves the central bank must maintain and easing norms for weak banks.

Patel, 55, who took over as the 24th governor of the central bank on September 5, 2016, had the shortest tenure since 1992.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
February 5,2020

New Delhi, Feb 5: Following is the chronology of events in the 2012 Nirbhaya gang rape and murder case in which the Delhi High Court on Wednesday said the all the four convicts have to be hanged together, not separately.

- Dec 16, 2012: Paramedical student gang-raped and brutally assaulted by six men in a private bus and thrown out of the moving vehicle along with her male friend. The victims admitted to Safdarjung Hospital.

- Dec 17: Widespread protests erupt demanding stringent action.

- Police identify the accused - bus driver Ram Singh, his brother Mukesh Kumar, Vinay Sharma and Pawan Gupta.

- Dec 18: Ram Singh and three others arrested.

- Dec 20: Victim's friend testifies.

- Dec 21: A delinquent juvenile nabbed from Anand Vihar bus terminal in Delhi. Victim's friend identifies Mukesh as one of the culprits. Police conduct raids in Haryana and Bihar to nab the sixth accused, Akshay Kumar.

- Dec 21-22: Akshay arrested in Aurangabad district of Bihar and brought to Delhi. Victim records statement before the SDM in hospital.

- Dec 26: Following a cardiac arrest, victim flown to Singapore's Mount Elizabeth Hospital by the government.

- Dec 29: Victim succumbs to injuries and other medical conditions. Police add murder charge in the FIR.

- Jan 2, 2013: The then Chief Justice of India Altamas Kabir inaugurates fast track court (FTC) for speedy trial in sexual offence cases.

- Jan 3: Police file charge sheet against five adults accused of murder, gang-rape, attempt to murder, kidnapping, unnatural offences and dacoity.

- Jan 17: FTC starts proceedings against the five adult accused.

- Jan 28: Juvenile Justice Board (JJB) says minority of the juvenile accused is proved.

- Feb 2: FTC frames charges against five adult accused.

- Feb 28: JJB frames charges against the minor.

- Mar 11: Ram Singh commits suicide in Tihar Jail.

- Jul 8: FTC completes recording of testimonies of prosecution witnesses.

- Jul 11: Delhi High Court allows three international news agencies to cover the trial in the case.

- Aug 22: FTC begins hearing final arguments in trial against four adult accused.

- Aug 31: JJB convicts the minor for gang-rape and murder and awards three-year term at probation home.

- Sep 3: FTC concludes trial. Reserves verdict.

- Sep 10: Court convicts Mukesh, Vinay, Akshay, Pawan of 13 offences including gang-rape, unnatural offence and murder of the girl and attempt to murder her male friend.

- Sep 13: Court awards death penalty to all 4 convicts.

- Sep 23: HC begins hearing the convicts' death sentence reference sent to it by the trial court.

- Jan 3, 2014: HC reserves verdict on convicts' appeals.

- Mar 13: HC upholds death penalty to the 4 convicts.

- Mar 15: SC stays execution of 2 convicts, Mukesh and Pawan, after they file appeals. Later, stays execution of other convicts also.

- Apr 15: SC directs police to produce the dying declaration of the victim.

- Feb 3, 2017: SC says it would hear afresh the aspect of awarding death penalty to the convicts.

- Mar 27: SC reserves verdict on their appeals.

- May 5: SC upholds death penalty to four convicts, says the case falls under the category of 'rarest of rare' and the offence created "tsunami of shock".

- Nov 8: Mukesh, one of the four death row convicts in the case, moves SC seeking review of its verdict upholding the capital punishment awarded to him.

- Dec 12: Delhi Police opposes Mukesh's plea in SC.

- Dec 15: Convicts Vinay Sharma and Pawan Kumar Gupta move SC for review of its verdict.

- May 4, 2018: SC reserves order on review plea of Vinay and Pawan.

- Jul 9: SC dismisses review pleas of three convicts.

- Feb, 2019: Victim's parents move Delhi court for issuance of death warrants of the four convicts

- Dec 10, 2019: Akshay moves plea in SC seeking review of his death penalty.

- Dec 13: Victim's mother moves SC opposing review plea of convict

- Dec 18: SC dismisses Akshay's review plea.

- Delhi govt seeks death warrants for execution of death sentence to the 4 convicts

- Delhi court directs Tihar authorities to issue notice to convicts to avail their remaining legal remedies.

- Dec 19: Delhi HC dismisses plea of Pawan Kumar Gupta claiming he was a juvenile at the time of the offence.

- Jan 6, 2020: Delhi court dismisses complaint filed by Pawan's father seeking FIR against sole witness

- Jan 7: Delhi court orders 4 convicts to be hanged on January 22 at 7 am in Tihar jail.

- Jan 14: SC rejects curative petition of Vinay and Mukesh Kumar.

Mukesh files mercy petition before President

- Jan 17: President Ram Nath Kovind rejects mercy plea of Mukesh.

- Trial court issues death warrants again with execution date as February 1, 6 am.

- Jan 25: Mukesh moves SC against rejection of mercy plea.

- Jan 28: SC hears arguments, reserves verdict

- Jan 29: Convict Akshya Kumar approaches SC with curative petition

- SC rejects plea of Mukesh challenging rejection of his mercy plea.

- Jan 30: SC dismisses curative plea of Akshay Kumar Singh.

- Jan 31: SC dismisses plea filed by Pawan seeking review of its order rejecting his juvenility claim.

- Delhi court again postpones execution of the black warrants till further order.

- Feb 1: Centre moves HC against the trial court order.

- Feb 2: HC reserves judgement on Centre's plea.

- Feb 5: HC dismisses Centre plea against trial court order; says all 4 convicts have to be hanged together. It directs the convicts to pursue all legal remedies within a week, failing which the authorities ordered to take action in accordance with law.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
May 10,2020

New Delhi, May 10: Congress leader Rahul Gandhi on Saturday demanded that Prime Minister Narendra Modi ensured audit of donations made to the PM-CARES Fund, and to share the details and the money spent with the people.

"The PM-CARES Fund has received huge contributions from PSUs and major public utilities like the Railways. It's important that the Prime Minister ensure the fund is audited and that the record of money received and spent is available to the public," he tweeted.

The #PmCares fund has received huge contributions from PSUs & major public utilities like the Railways.

It’s important that PM ensures the fund is audited & that the record of money received and spent is available to the public.

— Rahul Gandhi (@RahulGandhi) May 9, 2020
His remarks came amid reports that the central government is accumulating a huge sum of money in the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund set up as a corpus to fight novel coronavirus and that the amount spent will not be audited by the Comptroller and Auditor General.

The CAG office had clarified that since the fund is based on donations, it has no right to audit a charitable organisation.

On Friday, Rahul Gandhi told the media that the PM-CARES Fund should be audited and people of the country should know about the donors and the donations made.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
January 11,2020

New Delhi, Jan 11: Islamic preacher Zakir Naik has revealed that the Bharatiya Janata Party-led government offered to drop false money-laundering charges against him and provide with a "safe passage to India" in return for his support to the government's move to revoke Article 370 of the Constitution.

In a statement issued by Naik's PR team on Saturday, the Islamic preacher said that he was approached by a representative of the Indian government in September, who offered him the said deal on Kashmir, which he refused.

"Three and a half months before, the Indian officials approached me for a private meeting with a representative of the Indian government. When he came to Putrajaya (a Malaysian city), in the fourth week of September 2019, to meet me, he said that he is coming after personally meeting and under the direct instructions of the Prime Minister of India Narendra Modi and the Home Minister of India Amit Shah," Naik said in a video statement released by his Mumbai-based PR team.

Naik, who has been living in Malaysia for the last three years, is facing charges of inciting communal disharmony and committing unlawful activities in India.

"(The representative) said that he wanted to remove the misconceptions and miscommunications between myself (Naik) and the Indian government, and wants to provide me a safe passage to India," he added. "He (the representative) said that he would like to use my connections to better the relationship between India and the other Muslim countries."

"The meeting lasted for several hours. He told me that he wanted me to support the BJP government when they revoked Article 370 in Kashmir. And I flatly refused," he added.

Naik said that after he refused the offer, he was further asked to not make public statements against the BJP or Prime Minister Narendra Modi.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.