Govt may go slow on Telangana to douse Seemandhra anger; no deadline for GoM report

October 9, 2013

GoM_reportNew Delhi, Oct 9: In a move to pacify protesters in the coastal region of the state, the Centre on Tuesday signalled that it would slow the process of splitting Andhra Pradesh, setting up a group of ministers for the bifurcation but not giving it a deadline to submit a report.

The Congress party has been caught off balance by the intensity of protests in Seemandhra, the part of Andhra left behind after the government conceded the long-pending demand for the creation of Telangana. Its own chief minister, Kiran Kumar Reddy, has opposed the breakup of the state but refused to quit, virtually daring the party to risk sacking him ahead of general elections next year.

The home ministry had originally proposed a six-week deadline for the GoM to submit its findings, but this did not find favour with a government desperate to show that while it wants to create Telangana, there is still scope to accommodate some demands of the dissenters.

The GoM, likely to be headed by home minister Sushilkumar Shinde, will divide the assets of Andhra and determine the boundaries of Telangana and Seemandhra with reference to electoral constituencies, and split judicial and statutory bodies, and other administrative units.

One reason the Congress wants to split Andhra is to minimise electoral losses in the state after popular leader Jaganmohan Reddy left the party in 2010. It reckons it will sweep a newly created Telangana, and pick up a few seats in a multi-cornered contest in Seemandhra. Telangana will have 17 Members of Parliament and Seemandhra, 25.

But things have gone from bad to worse over the past few days.

"It seems the Centre trusted the state's political leadership to explain the mechanics of the division to the people. But the AP chief minister is trying to sabotage the central decision," said Gautam Pingle, former Director, Center for Public Policy at Administrative Staff College of India.

One of the options before the government is to impose President's rule in the troubled state, though Shinde categorically denied any such move. With elections approaching, the Congress would not like to give the Opposition a stick to beat it with.

There is a precedent of forming a new state under President's rule:  Haryana in 1966. But given the bitter feud among pro and anti-Telangana parties, this time such a move will also be vulnerable to a legal challenge.

The Congress started the day by trying to discredit two of its bête noires in the state -- former chief minister Chandrababu Naidu and Jaganmohan Reddy -- by showing they had actually supported the split  before professing to oppose it.

Congress spokesperson Digvijaya Singh released letters written by Naidu in 2008 and 2012 and Reddy in 2012 expressing their support for Telangana. The two leaders are on indefinite fasts to protest the bifurcation of the state.

After the announcement of the GoM, Singh appealed to the people of Seemandhra to give up their protests "so that a healthy dialogue process can move forward and a solution that will benefit both the sides be arrived at".

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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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Agencies
March 8,2020

Mumbai, Mar 8: A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency's office in Mumbai on Saturday for further questioning.

Kapoor, who was grilled by central agency's officials on Friday night at his Samudra Mahal residence in Mumbai, was shifted to the ED office in the metropolis around 12.30 pm.

ED officials said Kapoor was questioned throughout the night, with some rest time.

A senior ED official connected with the probe told IANS: "Kapoor will be questioned about Yes Bank loans to Dewan Housing Finance Limited (DHFL)."

The official said that during searches a lot of incriminating documents were found and the agency wanted to grill him on his links with DHFL promoters and other companies.

Kapoor's alleged role in the disbursal of loan to a corporate entity and kickbacks reportedly received in his wife's bank account are also under probe.

The ED had filed the money laundering case against Kapoor and raided his residence, apart from issuing a look-out circular so that he does not flee the country.

The ED registered a money laundering case against Kapoor as a continuation of its probe against the DHFL wherein it was allegedly found that Rs 12,500 crore was diverted to 80 shell companies using one lakh fake borrowers. The transactions with these shell companies date back to 2015.

An ED official in New Delhi told IANS that the DHFL probe revealed that funds diverted by the DHFL originated from Yes Bank.

He said that the searches at Kapoor's residence on Friday night were meant to find out any irregularity in grant of loans to the DHFL by the Yes Bank.

The ED has accused Kapil and Dheeraj Wadhawan of DHFL of purchasing shares in five firms -- Faith Realtors, Marvel Township, Abe Realty, Poseidon Realty, and Random Realtors -- after which they were amalgamated with Sunblink.

The outstanding loans of these five firms, totalling around Rs 2,186 crore till July 2019, were allegedly appropriated onto the books of Sunblink to cover up the diversion of loans acquired from DHFL.

The ED's action comes after the RBI superseded Yes Bank Board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawals by account holders for a month.

The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank".

Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank, which has over 1,000 branches and 1,800-plus ATMs across the country.

On Thursday, Union Finance Minister Nirmala Sitharaman said that the bank was on watch since 2017 and developments relating to it were monitored on a day-to-day basis.

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News Network
March 25,2020

New Delhi, Mar 25: The government is likely to agree an economic stimulus package of more than Rs 1.5 lakh crore ($19.6 billion) to fight a downturn in the country that is currently locked down to stem the spread of coronavirus, two sources familiar with the matter told news agency.
The government has not yet finalised the package and discussions are ongoing between Prime Minister Narendra Modi's office, the finance ministry, and Reserve Bank of India (RBI), said both the sources, who asked not to be named as the matter was still under discussion.

One of the sources, a senior government official, said the stimulus plan could be as large as Rs 2.3 lakh crore, but final numbers were still in discussion.

The package could be announced by the end of the week, both sources added.

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