Michael Patra takes over as RBI Deputy Governor

Agencies
January 15, 2020

Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.

He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.

An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.

He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as Deputy Governor.

Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.

He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.

He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.

He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.

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News Network
February 11,2020

New Delhi, Feb 11: The Aam Aadmi Party on Tuesday appeared to be heading back to power for a second term in Delhi with the party leading in 52 seats of the 70 and the BJP ahead in 18 as votes for last week's assembly elections were counted, according to Election Commission figures. The contest for political power over the national capital was a bipolar one with the Congress nowhere in the reckoning, according to initial trends.

AAP supremo and chief minister Arvind Kejriwal was leading in the New Delhi seat by 4,300 seats, while his deputy Manish Sisodia from Patparganj seat was ahead by 102 votes.

BJP leader Vijender Gupta, who is also leader of opposition in the Delhi legislative assembly, was trailing by over 1,200 votes from Rohini.

As early celebrations broke out in the AAP headquarters in Rouse Avenue, BJP's Delhi unit chief Manoj Tiwari asked his party supporters not to lose hope.

"There are 27 seats where the difference of votes is between 700 to 1,000," Tiwari told reporters.

Looking ahead at victory, he said he was not nervous and was ready to take on the responsibilities that a win would bring.

"All talk is over. We have to wait for the blessings of the people. I am confident it will be a good day for BJP. We are coming to power in Delhi today. Don't be surprised if we win 55 seats," Tiwari said.

Kejriwal, who had led his party to a spectacular win of 67 of 70 seats in 2015, is expected to address party workers and the media later in the day. However, his party workers were upbeat and in celebratory mode.

"We have been saying since the beginning that the upcoming polls will be fought on the basis of work done by us... You wait and watch, we will register a massive win," AAP spokesperson Sanjay Singh told reporters.

"We hope we get such a clear majority that a message goes out that doing Hindu-Muslim politics will not work anymore," said AAP volunteer Fareen Khan at the party office.

The headquarters were decorated with blue and white balloons and big cutouts of Kejriwal were placed in different parts of the office.

Labour minister and AAP's Delhi unit convenor Gopal Rai was leading in Badarpur constituency by 1,994 votes.

Atishi, AAP's Kalkaji candidate, who was also instrumental in the transformation of Delhi government schools, was trailing by 190 votes.

AAP's Timarpur candidate Dilip Pandey was leading by over 1,500 votes.

BJP's Tajinder Singh Bagga was trailing on Hari Nagar seat by over 50 votes, while AAP's Raghav Chadha is leading from Rajinder Nagar constituency.

Congress' Chandni Chowk candidate Alka Lamba, who is sitting MLA from the constituency, was trailing by over 5,800 votes.

Counting centres are spread across 21 locations in 11 districts, including at the CWG Sports Complex in east Delhi, NSIT Dwarka in west Delhi, Meerabai Institute of Technology and G B Pant Institute of Technology in southeast Delhi, Sir CV Raman ITI, Dheerpur in central Delhi, and Rajiv Gandhi Stadium in Bawana in north Delhi.

The assembly elections were held on February 8.

A total of 672 candidates, including 593 men and 79 women, were in the fray for the hotly contested, often divisive polls with the anti-CAA protests in Shaheen Bagh occupying centrestage towards the end of the campaign.

While the AAP, of course, put forward Kejriwal, Prime Minister Narendra Modi, home minister Amit Shah and Uttar Pradesh chief minister Yogi Adityanath were among those who extensively campaigned for the BJP.

The Congress, still recovering maybe from the death of its three-time Delhi chief minister Sheila Dikshit in July last year, got into campaign mode much later. Former prime minister Manmohan Singh and party leaders Rahul Gandhi and Priyanka Gandhi were among those who campaigned for the Congress.

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News Network
May 13,2020

May 13: Senior Congress leader P Chidambaram on Wednesday mocked the prime minister's announcement of a Rs 20 lakh crore financial package as a "headline and blank page", and said he was looking forward to the finance minister filling the blank page.

Prime Minister Narendra Modi on Tuesday announced massive new financial incentives on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.

Chidambaram said he would count every additional rupee the government infuses into the economy and examine what the poor, hungry and devastated migrant workers get after walking hundreds of kilometres to their home states.

"Yesterday, PM gave us a headline and a blank page. Naturally, my reaction was a blank!

"Today, we look forward to the FM filling the blank page. We will carefully count every ADDITIONAL rupee that the government will actually infuse into the economy," he said on Twitter.

The former finance minister said "We will also carefully examine who gets what?".

"And the first thing we will look for is what the poor, hungry and devastated migrant workers can expect after they have walked hundreds of kilometres to their home states.

"We will also examine what the bottom half of the population (13 crore families) will get in terms of REAL MONEY," he said in a series of tweets.

Congress leader Jairam Ramesh also slammed the prime minister's announcement.

"Last night the Prime Minister did what comes to him best. Maximum packaging, Minimum meaning.It was a case of classic NAMO. No Action Message Only," he said on Twitter.

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Agencies
March 3,2020

Lucknow, Mar 3: Two days after wife of Kafeel Khan, who is booked under the National Security Act, alleged that her husband faced a threat to life in Mathura jail, where he is lodged for anti-CAA protests, the District Magistrate claimed that Khan was 'fully secure' in the jail.

"Kafeel Khan, who has been booked under the National Security Act (NSA) for alleged inflammatory statements during an anti-CAA protest in Aligarh, is absolutely fine and fully secure in Mathura jail. Allegations of 'inhuman' treatment being meted out to him are baseless," Mathura District Magistrate Sarvagya Ram Mishra said on Monday.

Also Read: Kafeel Khan’s wife fears threat to his life
Senior Superintendent of Mathura district prison, Shailendra Maitrey, said that Khan's condition is being monitored every half an hour and the report is written in the gate book. He said, his ECG is normal and blood pressure was also in control.

He said that Khan was demanding checkup from a cardiologist.

"Since no specialist is available in the government sector here, his request could not be complied with. However, the jail authorities have sent his request to chief medical officer and have asked him to make a specialist available," the jail official said.

He said Khan is in barrack, which is fully ventilated, and he shares it with 50-60 'good behaviour' prisoners.

It may be recalled that in a letter to the Chief Justice of Allahabad High Court, Additional Chief Secretary (Home), and Director General (Jail), Shabista Khan, wife of the jailed doctor, had alleged that her husband was being treated inhumanely in the jail.

She feared that an attempt could be made on her husband's life inside the jail. She had demanded adequate security for him and had urged that her husband should be kept away from active criminals lodged in the jail.

Khan was booked by Aligarh police on December 13 for delivering a provocative speech in Aligarh Muslim University (AMU) during an anti-CAA protest in the campus, a day earlier, and was arrested from Mumbai airport on January 29 by Uttar Pradesh special task force.

The Aligarh police had slapped the stringent National Security Act (NSA) against Khan on February 13 night, hours before he was expected to walk free from the Mathura jail, after he was granted bail by Aligarh's chief judicial magistrate on February 10.

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