Modi leaves for US, hopes visit will mark new chapter

September 25, 2014

New Delhi, Sep 25: Describing America as India's "vital partner", Prime Minister Narendra Modi today embarked on his first visit to the US confident that his five-day trip will mark a "new chapter" in bilateral strategic ties.

modiAs Modi seeks to promote India as open for business and to mend ties with the US after a bitter diplomatic row last year, Modi said he was looking forward to meeting President Barack Obama in Washington over two days.

The Prime Minister said he will discuss with Obama how Indo-US ties can be taken to a "new level" in the interest of the two countries as well as of the world.

Obama will host a rare private dinner for Modi at the White House on September 29, so as to establish a personal relationship with the Indian leader ahead of summit talks the next day. The two leaders are meeting for the first time.

The Prime Minister is expected to have only tea and lemonade at the dinner as his US visit coincides with the Navratri fast which he religiously observes every year.

"I will discuss with President Obama how we can use the strength of all that we share and all that we have built so far to take our relationship to a new level in the interest of our two countries and the cause of this world. I am confident that the visit will mark the start of a new chapter in our strategic partnership," he said in a statement before he took off on a special Air India plane.

Modi will have a stopover in Frankfurt tonight and will reach New York tomorrow and later proceed to Washington on September 29.

"I see the United States as a vital partner for our national development, drawing especially on the rich possibilities of partnership in education, skills, research, technology and innovation – and, above all, a shared commitment to human values.
Working together, and with others, we can bridge the many divisions of our times and contribute to building a more peaceful, stable, secure, sustainable and prosperous world," the Prime Minister said.

The case involving Indian diplomat Devyani Khobragade last year had escalated into a full-blown diplomatic spat between India and the US, casting a shadow on their ties. Khobragade was arrested and then strip-searched in New York for allegedly mistreating her domestic maid.

In New York, Modi will deliver his maiden address at the UN General Assembly on Saturday.

In his address at the 69th session of the UNGA, Modi said he will call for a stronger global commitment and more concerted multilateral action in addressing challenges of fragile global economy, turbulence and tension in many parts of the world, growth and spread of terrorism, the Ebola health crisis in Africa, climate change and eradication of poverty.

"I will also stress the urgency of early reforms in the United Nations, to ensure that it remains relevant and effective in dealing with the challenges of the 21st Century," he said.

Modi would be meeting as many as 11 top corporate honchos over breakfast on September 29 apart from one-on-one meetings with six more business captains the same day in New York. He will also be participating in a business meet, to be organised by USIBC that is expected to be attended by 300-400 businessmen in Washington on September 30.

"I look forward to meeting business leaders to invite them to participate more actively in India's economic growth and transformation. This is message that I will also convey to the US business community in Washington DC.

"My participation in a public event in Central Park in New York on poverty is to focus international attention on this great challenge for humanity and affirm my support for global civic action, especially involving the youth, to address it," said Modi.

Referring to his scheduled address at the Madison Square Garden in New York on September 28, he said he was keenly awaiting the opportunity to meet the Indian-American Community there.

"Their success in diverse fields, their contribution to the United States, their abiding bonds with India and their role as a vibrant bridge between the two largest democracies is a source of pride for us. They serve as a window to our heritage, progress and potential," he said.

Modi would also be meeting the top American political leadership ranging from former President Bill Clinton and former Secretary of State Hillary Clinton to Indian-American South Carolina Governor Nikki Haley.

In Washington, there is a very high level of expectation from Modi's meeting with President Obama.

Obama has gone out of his way to host a rare private dinner for Modi at the White House on September 29, so as to establish a personal relationship with the Indian leader.

Ahead of his main summit at the White House on September 30, Modi would visit the Martin Luther King Memorial and Lincoln Memorial in Washington and pay floral tribute to Mahatma Gandhi's statue in front of the Indian Embassy.

This would be for the first time that an Indian Prime Minister would have so many public and private engagements during a US visit.

New York City Mayor Bill de Blasio would make a courtesy call on the Prime Minister shortly after he arrives. Modi would also meet Nobel laureate Harold Eliot Varmus, who is the current Director of the National Cancer Institute.

He will pay a visit to the 9/11 memorial in New York on Saturday following which he is expected to drive down to the United Nations headquarters to address the 69th annual session of UN General Assembly. He would also meet UN General Secretary Ban Ki-moon.

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News Network
March 9,2020

New Delhi, Mar 9: Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April.

In New Delhi, petrol price fell by 24 paise intra-day and stood at Rs 70.59 per litre. Diesel in the national capital was retailed at Rs 63.26 per litre on Monday as against Rs 63.51 on Sunday.

The retail price of petrol in Kolkata saw a drop of 23 paise to Rs 73.28 per litre. The diesel price fell by 25 paise in the eastern metropolitan city to retail at Rs 65.59 per litre.

In Mumbai, petrol price was Rs 76.29 per litre as against Rs 76.53 a day earlier. Diesel was retailed at Rs 66.24 per litre, 26 paise lower than on Sunday.

In Chennai, petrol was retailed at Rs 73.33 per litre, 25 paise lower than a day earlier. Diesel price saw a fall of 26 paise to retail at Rs 66.75 per litre in the southern metropolitan.

Global crude oil prices fell by as much as a third following Saudi Arabia's move to start a price war with Russia amid worries over the spread of coronavirus.

Brent crude futures were down 13.29 dollars or 29 per cent at 31.98 dollars a barrel by 04:33 hrs GMT after earlier dropping to 31.02 dollars, their lowest since February 12, 2016.

Brent futures were on track for their biggest daily decline since January 17, 1991 at the start of the first Gulf War.

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News Network
February 19,2020

London, Feb 19: Indian universities had a good performance year within the emerging economies of the world as a record 11 made it to the top 100 Times Higher Education's (THE) Emerging Economies University Rankings 2020.

Only China has more universities than India in the top 100 at 30 from a total of 47 countries and territories included in the analysis released in London on Tuesday evening.

A total of 56 Indian universities appear in the full ranking of a total of 533 universities across emerging economies of the world.

The Indian Institute of Science (IISc), ranked 16th, is India’s top-ranked institution followed by the Indian Institute of Technologies (IITs).

"There has long been a debate about the success of Indian universities in world rankings, and for too long they have been seen as underperforming on the global stage," notes Phil Baty, Chief Knowledge Officer for the THE.

"The Emerging Economies University Rankings 2020 suggests that real progress is being made by a number of institutions in a number of metrics across our robust methodology, and could mark an exciting turning point for Indian higher education, enabled in part by the Institutes of Eminence scheme," he said.

The Indian government’s Institutes of Eminence scheme was established in 2017 and one of its participating universities, Amrita Vishwa Vidyapeetham, has entered the top 100 for the first time, moving up a huge 51 places from joint 141st in 2019.

The other universities included in the Institutes of Eminence scheme that appear in the top 100 mark the biggest improvers in the ranking with IIT Kharagpur moving up 23 places to 32nd, IIT Delhi improving by 28 places to joint 38th and IIT Madras climbing 12 places to joint 63rd.

The Institutes of Eminence scheme provides participating universities with government funding and greater autonomy with the aim of moving them into the top 100 of the world university rankings, including Times Higher Education’s World University Ranking, over time.

The expectation is that this will be achieved through a number of changes including an increase in foreign students and staff, offering online courses and encouraging academic collaboration with other top universities around the world.

This year marks only the second time that 11 Indian institutions have held top 100 positions since the ranking began in 2014, when much fewer universities took part in the ranking globally.

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Agencies
March 15,2020

New Delhi, Mar 15: The new rules for debit and credit cards to increase security and reduce frauds kick in from Monday. In January, the Reserve Bank of India (RBI) had issued new rules to improve user convenience and increase the security of card transactions. These rules will help in curbing the misuse of debit and credit cards.

RBI has directed banks to allow only domestic card transactions at ATMs and PoS terminals in India at the time of issuance/reissuance of card. For international transactions, online transactions, card-not-present transactions and contactless transactions, customers will have to separately set up services on their card.

These rules will be applicable for new cards from March 16. Those with old cards can decide whether to disable any of these features.

As per the existing rules, these services used to come automatically with the card, but now it will start at the request of the customer.

Debit or credit card customers who have not yet done any online transaction, contactless transaction or international transaction with the card, then these services on the card will automatically stop from March 16.

The Reserve Bank has asked all banks to provide mobile banking, net banking option to enable limit and enable and disable service 24 hours a day, seven days a week.

If the customer makes any change in the status of the card, the bank will alert the customer through SMS/email and send the information.

Issuers shall provide to all cardholders facility to switch on/off and set/modify transaction limits (within the overall card limit, if any, set by the issuer) for all types of transactions -- domestic and international, at PoS/ATMs/online transactions/contactless transactions, etc.,

The provisions, however, are not mandatory for prepaid gift cards and those used at mass transit systems.

The latest instructions come in the wake of rising instances of cyber frauds and the huge increase in the use of cards.

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