No information on black money removed by note ban: RBI

Agencies
September 4, 2017

New Delhi, Sept 4: The RBI has told a parliamentary panel that it has "no information" on how much black money has been extinguished as a result of demonetisation of Rs 500/1,000 notes or about unaccounted cash legitimised through exchange of currency post note ban.

Stating that an estimated Rs 15.28 (rpt) 15.28 lakh crore in junked notes has come back "subject to future corrections based on verification process", the Reserve Bank also said it has "no information" whether demonetisation is being planned to be implemented at regular intervals.

The RBI has been facing flak from the opposition parties for demonetisation and delay in disclosing figures on the junked notes, even as the government has maintained that the November 8, 2016 decision to ban Rs 500/1,000 notes in circulation at that time has helped in curbing black money, among other benefits.

Last week in its annual report, the RBI finally made public the details of the junked notes that have come back into the system putting the figure at Rs 15.28 (rpt) 15.28 lakh crore. The same figure has now been shared with the Parliamentary Standing Committee on Finance.

Replying to queries from the panel, the RBI said the verification for authenticity and numerical accuracy are still on, while some of the specified bank notes (old Rs 500/1,000 notes) which were accepted by banks and post offices are still lying in currency chests.

The central bank also informed the panel that the completion of the process of verification will take time in view of the large volume involved.

The process is "going on in full swing" with most RBI offices working in double shifts and with the help of high-end verification machines, the central bank said.

"Till such time, these notes are processed by the RBI, their numerical accuracy and authenticity, only in estimation of SBNs received back is possible. Subject to future correction, based on verification process when completed, the estimated value of SBNs received as on June 30 is Rs 15.28 trillion," the RBI said in its written reply to the panel.

To a query on how much amount of black money has been extinguished as a result of demonetisation, the central bank said, "The RBI has no information in this regard."

The RBI gave similar reply to another question on how much unaccounted money has been legitimised through exchange of junked currency.

The central bank did not give any direct reply on adverse impact on the informal and unorganised sector, as also about the GDP loss. The RBI said the deceleration in overall economic growth figures for 2016-17 had begun "much before demonetisation" due to weakness in industrial and services sector.

Last week, several members of the panel had sought redrafting of its draft report on demonetisation as the RBI at that time had not provided some crucial details including on the quantum of junked Rs 500/1,000 notes.

The acceptance of the report was deferred as member MPs across party lines including BJD MP Bhartruhari Mahtab, SP MP Naresh Agrawal and BJP MP Nishikant had said that the panel's report on demonetisation needed to be "redrafted" while some of them stated that it "lacks punch".

In its annual report for 2016-17, the RBI had disclosed that all but about 1 per cent of the scrapped currency notes have come back into the system.

The government had on November 8, banned old Rs 500 and Rs 1,000 notes in an attempt to weed out black money in the country. The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.

The government replaced old Rs 500 notes with new ones, but no replacement for Rs 1,000 notes has been made. Instead, a new Rs 2,000 note was introduced post note ban.

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Agencies
April 14,2020

Mumbai, Apr 14: Activist and scholar Anand Teltumbde was arrested by the National Investigation Agency (NIA) on Tuesday after he surrendered before it in connection with the Elgar Parishad-Maoist links case.

Teltumbde surrendered at the NIA office at Cumbala Hill in south Mumbai following the Supreme Court's directives.

He was subsequently arrested by the NIA and shall be produced before a court here shortly, an official said.

Earlier, the scholar reached the NIA office in the afternoon along with his wife Rama Teltumbde and brother-in- law and Dalit leader Prakash Ambedkar.

Anand Teltumbde is the grandson-in-law of Dalit icon Dr B R Ambedkar, whose 129th birth anniversary is being observed on Tuesday.

Civil rights activist Gautam Navlakha, a co-accused in the case, also surrendered before the NIA in Delhi. His anticipatory bail plea was also rejected by the apex court.

According to the official, Navlakha will be produced before the court in Mumbai through video conference.

The Supreme Court on March 17 this year rejected the pre-arrest bail pleas of Anand Teltumbde and Gautam Navlakha, and directed them to surrender before the investigating agency.

Teltumbde, Navlakha and nine other civil liberties activists have been booked under the stringent provisions of Unlawful Activities Prevention Act (UAPA) for having alleged Maoist links and conspiring the overthrow the government.

The apex court while rejecting Teltumbde and Navlakha's bail pleas on March 17, directed them to surrender before the prosecuting agency withing a period of three weeks.

The duo later sought extension of the time.

On April 9, the Supreme Court extended the time by one week by way of last chance.

The activists were booked initially by Pune Police following violence that erupted at Koregaon-Bhima there.

According to police, the activists made inflammatory speeches and provocative statements at the Elgar Parishad meet held in Pune on December 31, 2017, which triggered violence the next day.

The police also said these activists were active members of banned Maoist groups.

The case was later transferred to NIA. Teltumbde and Navlakha were given interim protection by the Bombay High Court while their pre-arrest bail pleas were being heard.

After the high court rejected their applications, the duo approached the Supreme Court.

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News Network
June 24,2020

Islamabad, Jun 24: A plane crash which killed 97 people in Pakistan last month was because of human error by the pilot and air traffic control, according to an initial report into the disaster released Wednesday.

The Pakistan International Airlines (PIA) plane came down among houses on May 22 after both engines failed as it approached Karachi airport, killing all but two people on board.

"The pilot as well as the controller didn't follow the standard rules," the country's aviation minister Ghulam Sarwar Khan said, announcing the findings in parliament.

He said the pilots had been discussing the coronavirus pandemic as they attempted to land the Airbus A320.

"The pilot and co-pilot were not focused and throughout the conversation was about coronavirus," Khan said.

The Pakistani investigation team, which included officials from the French government and the aviation industry, analysed data and voice recorders.

The minister said the plane was "100 percent fit for flying, there was no technical fault".

The county's deadliest aviation accident in eight years came days after domestic commercial flights resumed following a two-month coronavirus lockdown.

Many passengers were on their way to spend the Muslim holiday of Eid al-Fitr with loved ones.

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News Network
March 7,2020

Srinagar, Mar 7: Two more accused, including a man who allegedly bought chemicals online for making improvised explosive device (IED) to be used in an attack on a convoy of the Central Reserve Police Force (CRPF) in Jammu and Kashmir's Pulwama last year, were arrested by the National Investigation Agency (NIA) on Friday, an official said.

The terror attack left 40 CRPF personnel dead in south Kashmir's Pulwama last year.

Waiz-ul-Islam, 19, from Srinagar and Mohammad Abbass Rather, 32, from Pulwama were arrested by the NIA, taking the number of those arrested in the case in the past week to five.

"During initial interrogation, Islam disclosed that he used his Amazon online shopping account to procure chemicals for making IEDs, batteries and other accessories on the directions of Pakistani Jaish-e-Mohammed (JeM) terrorists," the official said.

He said Islam personally delivered the items to the JeM terrorists after buying them online as a part of the conspiracy to carry out the attack.

"Rather is an old overground worker of the JeM. He has disclosed that he gave shelter at his home to Jaish terrorist and IED expert Mohd Umar after he came to Kashmir in April-May 2018," the official said.

Rather also sheltered other JeM terrorists - suicide bomber Adil Ahmad Dar, Sameer Ahmed Dar and Kamran, a Pakistani -- at his house before the Pulwama attack, the official said.

"He also facilitated safe shelter for the JeM terrorists, including Adil, at the house of accused Tariq Ahmed Shah and his daughter Insha Jan of Hakripora, who were arrested on March 3," the official said.

He said Islam and Rather will be produced before the NIA special court in Jammu on Saturday, while further investigation in the case continues. The NIA took over the case to probe the conspiracy behind the February 14, 2019, attack in Pulwama.

The last video of Adil, which was released by the JeM from Pakistan after the terror attack, was filmed at the home of Tariq Ahmed Shah. On February 28, the NIA achieved a major breakthrough in the case when it arrested 22-year-old Shakir Bashir Magrey, a furniture shop owner and resident of Pulwama.

Magrey had given shelter and other logistical assistance to suicide bomber Adil. He was introduced to Adil in mid-2018 by Pakistani terrorist Mohammad Umar Farooq and he became a full-time OGW of the JeM.

The explosives used in the attack were determined through forensic probe to be ammonium nitrate, nitro-glycerin and RDX. During investigation into the attack, the identity of the suicide bomber to be Adil Ahmad Dar was confirmed through DNA matching with that of his father.

The other key terrorists involved in the attack have been found to be JeM's south Kashmir divisional head Muddasir Ahmad Khan, killed in an operation by the security forces on March 11 last year; Pakistani terrorists Muhammad Umar Farooq and IED expert Kamran, both killed on March 29 last year; the owner of the car Sajjad Ahmad Bhat, a resident of Anantnag who was killed on June 16 last year, and Qari Yassir, JeM's commander for Kashmir who was killed on January 25 this year.

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