Narasimha Rao wasn't indifferent to Babri demolition: Naresh Chandra

July 12, 2012

narashima

New Delhi, July 12: It's "absurd and laughable" to suggest that PV Narasimha Rao was indifferent to the December 6, 1992 demolition of Ayodhya's Babri Masjid and sequestered himself in his prayer room, a key aide to the then prime minister says of the events of the fateful day, whose repercussions are still being felt.

"It is absurd and laughable. They cannot target anybody else, as only this (hitting at Rao) will sell. It makes good news. They need someone to blame," Naresh Chandra, who had just stepped down as cabinet secretary and was special advisor to the prime minister at the time, said.

His reference was to two new books - a posthumously-published autobiography of veteran Congressman Arjun Singh and of journalist Kuldip Nayar - which contend that Narasimha Rao was "incommunicado" and "remained inside his puja room when the (Babri) mosque was being demolished".

Chandra, who also served as ambassador to US, admitted that he had not read the books and would reserve further comments on them till he had done so but was forthright in his condemnation of Narasimha Rao's "negative" projection.

"Would any official in the Prime Minister's Office have let him (Narasimha Rao) relax when the demolition was happening? The prime minister was continuously in touch with both (home minister SB) Chavan and (then home secretary Madhav) Godbole during the entire episode," a combative Chandra said.

"If at all anybody important was not in Delhi on that day it was Arjun Singh (then the human resource development minister) himself. People give their views according to what they know or assume they know," Chandra contended.

He said the key issue in the days leading up to December 6 was whether president's rule could have been imposed in Uttar Pradesh by dismissing the Bharatiya Janata Party government of Kalyan Singh.

"This is an issue nobody is talking about. But the prevailing view then was that since Kalyan Singh has given assurances to the Supreme Court and the National Integration Council, dismissing the government using Article 356 would have meant that the opposition parties would have jumped at the Rao government," he said.

"Whether Article 356 was legally or constitutionally possible then, only an expert lawyer can say," he added.


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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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Agencies
August 3,2020

New Delhi, Aug 3: India's COVID-19 tally crossed the 18 lakh mark with 52,972 positive cases and 771 deaths reported in the last 24 hours.

The total COVID-19 cases stand at 18,03,696 including 5,79,357 active cases, 11,86,203 cured/discharged/migrated and 38,135 deaths," said the Union Ministry of Health and Family Welfare on Monday.

As per the data provided by the Health Ministry, Maharashtra -- the worst affected state from the infection -- has a total of 1,48,843 active cases and 15,576 deaths. A total of 4,41,228 coronavirus cases have been recorded in the state up to Sunday.

Tamil Nadu has reported a total of 56,998 active cases and 4,132 deaths. While Delhi has recorded 10,356 active cases, 1,23,317 recovered/discharged/migrated cases and 4,004 deaths.

The COVID-19 samples tested across the country has crossed the 2 crore mark till August 2.

The total number of COVID-19 samples tested up to August 2 is 2,02,02,858 including 3,81,027 tests that were conducted yesterday, said Indian Council of Medical Research (ICMR) on Monday. 

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News Network
June 11,2020

New Delhi, Jun 11: Petrol and diesel prices on Thursday were hiked by 60 paise per litre each - the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision.

Petrol price in Delhi was hiked to Rs 74 per litre from Rs 73.40 while diesel rates were increased to Rs 72.22 a litre from Rs 71.62, according to a price notification of state oil marketing companies.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the fifth daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.

In five hikes, petrol price has gone up by Rs 2.74 per litre and diesel by Rs 2.83.

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