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Bharat Ratna Pranab Da

Former President of India Dr. Pranab Mukherjee.jpg 1548433795

Former President of India and veteran Congress leader Pranab Mukherjee deserves a big Kudos for being awarded the highest civilian honour of India, the Bharat Ratna Award. Among the long list of presidential candidates, Pranab da was elected as the President of India in 2012. Pranab da began his career as an upper division clerk in the office of the Deputy Accountant-General (Post and Telegraph) in Calcutta. He got involved in the politics of the Indian National Congress in 1969. He is a man full of energy, spirit, and vision. He remained as an efficient President and had worked to improve India’s diplomatic ties and took quick decisions on mercy petitions.

Pranab da is an inspirational figure who began his political career with the Indian National Congress in 1969 under Prime Minister Indira Gandhi. He became one of her top lieutenants and was often described as her “man for all seasons”. His rise was meteoric in the early phase of his career and he became a cabinet minister in Indira Gandhi’s government in 1973. He was sent to the Rajya Sabha by the Congress in 1975, 1981, 1993, and 1999. He has played a critical role in Congress since joining. He was a close associate of Indira Gandhi at the time of Emergency. His political journey took shape in different political parties. Pranab da’s political skills and long experience in government have led him to head a large number of committees of Ministers in the government. Prime Minister PV Narasimha Rao appointed him as the deputy chairman of the Indian planning commission and subsequently as the union Cabinet Minister. This was the beginning of his second stint in the Congress.

It reminds me Pranab da’s statement when he said in his farewell broadcast to the nation at the time when he demitted office as President in 2017 that “The highest honour in our democracy does not lie in any office but in being a citizen of India, our motherland.”

He was earlier honoured with Padma Vibhusan, India’s second highest civilian award, in 2008. He has also been given the Best Parliamentarian Award in 1997 and Best Administrator in India Award in 2011. He is very well respected within the party social circles. He became the first Bengali to hold the post of President of India. He has served the nation selflessly and tirelessly for decades, leaving a strong imprint on the nation’s growth trajectory. His wisdom and intellect have few parallels. We are delighted that he has been conferred the Bharat Ratna. There is no doubt that his contribution is immense to public service and nation building who is recognised and honoured with Bharat Ratna. Pranab da’s success as a Finance Minister was marked by the last loan payment of IMF. As a Finance Minister, he implemented several tax modifications such as the Fringe Benefits and the Commodities Transaction Tax. He even modified goods and commodity tax. He was rated one of the best five Finance Ministers of the world in 1984 according to a survey conducted by “Euro Money” Journal published from New York and was also declared ‘Finance Minister of the year’ for Asia in 2010 by “Emerging Markets”, the journal of record for the World Bank and the IMF. Pranab da addressed the Rashtriya Swayamsevak Sangh cadre at the organisation’s final leg of three-year training programme called the ‘Tritiya Varsh Varg’ in Nagpur last year which raised many eyebrows, including in his own party, the Congress.

During his Presidential years, he and PM Modi enjoyed a very cordial relationship and established a good working rapport. Pranab da said, “The dynamism of our Constitution exemplified in the ideals of Justice, Liberty, Equality and Fraternity sets the tone of our development. We must strive to protect and preserve these foundational ethics.” I would like to conclude with the line twitted by PM Modi that “His wisdom and intellect have few parallels. Delighted that he has been conferred the Bharat Ratna.”

 


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Suman Kumari becomes Pakistan’s first Hindu woman judge

 sumankumari

Suman Kumari has become the first Hindu woman in Pakistan to be appointed as a civil judge, according to a media report.

Suman, who hails from Qambar-Shahdadkot, will serve in her native district.

She passed her LLB. examination from Hyderabad and did her masters in law from Karachi’s Szabist University, Dawn reported.

According to Pawan Kumar Bodan, her father, Suman wants to provide free legal assistance to the poor in Qambar-Shahdadkot.

“Suman has opted for a challenging profession, but I am sure she will go places through hard work and honesty,” the father said.

Her father is an eye specialist while Suman’s elder sister is a software engineer and another sister is a chartered accountant.

Suman is a fan of singers Lata Mangeshkar and Atif Aslam.

This is not the first time that a person from the Hindu community has been appointed as a judge. The first judge from the Hindu community was Justice Rana Bhagwandas, who served as the acting chief justice for brief periods between 2005 and 2007.

Hindus make up nearly 2 per cent of Pakistan’s total population and Hinduism remains the second largest religion in Pakistan after Islam.

Indians Settled Abroad Connect to Bharat

PravasiDiwasThe 15th Pravasi Bharatiya Divas began on January 21 in Varanasi at a time when two women of Indian origin in the United States of America are in news and being discussed world over. Gita Gopinath the first woman of Indian origin who has taken over as the Chairperson of the International Monetary Fund. The second woman is Chennai born Indira Nooyi. Once famous for heading the soft drink giant Coca Cola, Nooyi is being considered to head the World Bank. In fact these two women are just an example. Indians by dint of their merit, hard work, knowledge and dedication are moving ahead higher and higher in position of importance. Though the two women will not be present at the Sammelan due to some unavoidable circumstances, they will draw attention at the Sammelan in course of deliberations.

The Pravasi Bharatiya Sammelan this year was to begin from January 9. However, due to the Kumbha Mela and Republic Day celebrations, hundreds of Non-Resident Indians are coming to avail the opportunity to take part in the two national event, the Pravasi Bharatiya Divas is being held from January 21 to January 23.

They will also be meeting Prime Minister Narendra Modi when he inaugurates the event on January 22. After all, why the Prime Minister will not accord respect to Indians settled abroad. He is undeclared and honorary roaming ambassador of Indians in foreign land. In fact Prime Minister Modi has established rapport with Indians settled abroad in every nook and corner of the world.

Whether Modi goes to Fiji or Dubai or he visits Australia or New York, he makes it a point to meet Indians settled there. He would listen to the problems of Indians in foreign land, he would also pay attention to the success stories of Indians there with equal interest and is generous in praising Indians there. He has tried to resolve problems of Indians by taking up the issues at bilateral level with the head of the state he visits. It has shown positive and encouraging results.

People of Indian Origin in foreign countries come in a large number to listen to Prime Minister Modi when he is there. Many come to listen to Modi even on working days by taking leave which is not easy in foreign countries. They come driving hundreds of miles to listen and to see Modi. He has magnetic attraction.

In the beginning of last year, Prime Minister Modi reached the Opera House in Dubai. He laid the foundation stone of Temple in Abu Dhabi through video conference. Lakhs of Indians in the Gulf saw and listened to Modi. Slogans of Bharat Mata ki Jai and ‘Modi Modi’ rented the air when Prime Minister was at a Rock Show in Toronto in Canada. I have seen similar scene in many countries when Modi was there.

Just recall, had any Prime Minister of India except Atal Bihari Vajpayee ever established direct rapport with Indians settled abroad. Atal Bihari Vajpayee was a ‘Yug Purush’. It was at the initiative of Atal Bihari Vajpayee that Pravasi Bharatiya Sammelan was started in the year 2003 when he was the Prime Minister of the country. He wanted the Indians settled abroad should connect themselves directly with their nation. Before Vajpayee nobody had thought in this direction. We were though taking lead in the Non-Alignment Movement; we never gave a thought to our people settled abroad. Prime Minister Modi is carrying forward this tradition established by Vajpayee.

India is getting benefit of this move. According to a World Bank report, India received some $80 billion from people of Indian origin settled abroad in the previous year 2018. The total remission from Indians settled abroad in 2017 was $69 billion . What it shows. It shows that Indians settled abroad are generously remitting money to their nation. This money is being utilised in the economic growth and in infrastructure development. Just think the number of Chinese people settled outside China is much more compared to Indians in foreign land. Yet, in 2017 the total remission from Chinese settled outside China was $64 billion .

It is worth pondering why earlier the Indians settled abroad did not send this quantum of money to India. The simple answer is we never thought Indians settled in foreign land as our own. We accepted them as Indians more as a token gesture and never considered them members of our family. In the time of crisis, we turned our back. Recall the years when the dictator of Uganda Idi Amin was throwing Indians out of East Africa like cattle. But our government then did not do anything to help them. Thousands of Indians then had got shelter in Britain. Now whenever and wherever Indians are in trouble the Government of India takes immediate steps to give relief and protection them.

Let us take the case of Tango. Five Indians who were in Jail there since 2013 were released with the efforts of the Indian Government. Although this news did not get prominence in the media, External Affairs Minister Sushma Swaraj had twitted that we have rescued five Indians from Jail in Tango. Can we forget how Indians who were trapped in the cross fire in Yemen were rescued by our government.  In the operation we were able to rescue more than 6 thousand Indians from the jaw of death. Beside many people of Nepal and Bangladesh who were also trapped in Yemen were rescued by India. Sushma Swaraj had entrusted Union Minister V K Singh to personally supervise the operation.

It is a pleasant coincident that Prime Minister of Mauritius Pravind Jugnauth was the chief guest of the Pravasi Bharatiya Sammelan. He is a great lover of Hindi. His father and former Prime Minister of Mauritius Anerood  Jugnauth has also been a great friend of India.

(The author of the article is a Member of Parliament, Rajya Sabha)


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Goa budget session begins; Cong boycotts governor’s address

 budget

The opposition Congress boycotted Goa Governor Mridula Sinha’s address to the House on the first day of the state Assembly’s budget Session on Tuesday.

Members of the opposition wore black bands on their arms as a mark of protest, claiming that their “voice was not being heard by the BJP-led state government”.

As the House assembled for the day and Sinha got up to address the members, Leader of Opposition Chandrakant Kavlekar stood up to raise the point of order.

He said that the governor should not be allowed to address the House as the “voices of opposition were not being heard by the government”.

He said that the Congress had last week demanded that the current session be extended from the scheduled three days to 10 days, which was not approved by the state government.

Kavlekar further said that the governor should first address the issue of governance and the “collapsed” state administration.

As Speaker Pramod Sawant did not allow the point of order and the governor continued her address, all the Congress members staged a walkout.

Chief Minister Manohar Parrikar was present in the House when the Congress members walked out.

Letters to the Editor: January 29, 2019

FEATURE LETTER DIARY 679x400 e1545637164261RIP George Fernandes!

George Fernandes was one of my favourite politicians. He was a simple person but a great leader. India has lost a great politician. He will always be remembered. May his soul rest in peace!

Jubel D’Cruz

 

Minimum educational qualification needed for contesting elections

It refers to MP Cabinet Minister Imarti Devi with important portfolio of Women and Child Development having failed to read even a written Hindi script while unfurling Tricolour in Gwalior on the occasion of Republic Day that is on January 26, 2019, despite her having passed the 12th class as per records. Three-time MLA Imarti Devi felt relieved when Gwalior Collector offered and subsequently read rest of the written script on behalf of her. Incident also depicts standard of school education when a person having passed 12th class could not read a Hindi script.

It is indeed an irony that while every government job has a requirement for some minimum educational qualification, there is no such requirement to contest elections when uneducated persons become lawmakers and even ministers ruling well-educated bureaucrats. Legislation must be amended whereby only graduates and above may be able to contest elections. Rather, it may be made compulsory to pass a specially designed test to contest elections.

Incident all recalls of another member reading oath on behalf of George Fernandes as Rajya Sabha member because of his total inability due to the non-recoverable disease. Fitness certificate should also be necessary to contest elections together with the provision of some maximum age to retain membership of lower Houses of legislature at the centre and in the states.

Subhash Chandra Agrawal

 

India’s endangered national security

I must express my appreciation for Kangana Ranaut for excellent work in Manikarnika. National security is best ensured by rushing to Madame Tussauds and fondly caressing your wax statue. It is also ensured by showing the Accidental Prime Minister and Paresh Raval in Uri. The British made VT station and we only made CSTM. Britishers gave us CRPC and built Indian railways and gave us an education system while we are simply wasting our time in criticising others.  Priyanka Gandhi may or not be successful but why unleash venomous people after her. Recognition of young and capable women achievers is the need of the hour. National security is endangered when you play divisive politics. National security is endangered when you put a politician as governor of Jammu and Kashmir, and not a retired army man. National security is endangered when you encourage your men to undermine the Supreme court and misuse CBI. National security is endangered when you do note ban just for Ghar Ghar Modi. National security is endangered when you don’t sincerely negotiate with Pakistan but send Prakash Vedic to Haafiz Saeed.

Mahendra Singh

George Fernandes once said, ‘Want to be reborn as a Vietnamese’

“If there is a rebirth, I would like to be reborn as a Vietnamese,” George Fernandes had once said.

Addressing the annual conference of Karnataka Planters’ Association fifteen years ago in Bengaluru when he was the defence minister in the Atal Bihari Vajpayee Cabinet, Fernandes described the Vietnamese as “a disciplined, committed and determined lot”.

Observing that Vietnam had a large share of the world coffee market, he said, “I am not grudging that; I am an admirer of Vietnam” and heaped praise on the Southeast Asian country and its people for their rapid progress.

“If there is a rebirth, I would like to be reborn as a Vietnamese”, Fernandes, who was born in Manguluru, said.

“They are ready to die for their commitment.”

Fernandes had said he was India’s first defence minister to have visited Vietnam.

He noted that three million Vietnamese had been killed in conflicts with the US, France and China.

According to him, the country was leaving India behind in per capita income.

“After all the devastation that Vietnam had to go through… none that we (India) had to go through in recent years,” the veteran socialist said.

He cited Vietnam as an example as to how a country can be determined and innovative and think 100 years ahead.

Fernandes passed away Tuesday after a prolonged illness.

Condolences poured in for the former defence minister:

Saddened by his passing away, Prime Minister Narendra Modi tweeted:

President Ram Nath Kovind also took to Twitter saying:

Congress President Rahul Gandhi also condoled the demise of George Fernandes.

West Bengal Chief Minister Mamata Banerjee said he was a much admired trade union leader.

National Congress Party chief Sharad Pawar also shared his memories on Twitter:

Karjat Municipal Council sees power swap after 15 years

Untitled 1Shiv Sena-BJP-RPI alliance has managed to bring the power change in the Karjat Municipal Council after 15 years with a clear win of 10 seats out of 18. The alliance candidate Suvarna Joshi gave a tough challenge defeating Ad. Pratiksha Lad of NCP, the party that ruled over the past decade.

The counting had begun at 9 am on Monday morning after voting for this city council that took place on Sunday. In the elections, Shiv Sena won 6 seats, BJP won 4 seats and RPI secured 2 seats while NCP had to settle for 8 seats. 45 candidates were in the fray for the total 18 seats in the Karjat Municipal Council. It was found that during the counting of votes, the candidates of the alliance took the lead and it remained in force till the end. Initially, the lead with 1,200 votes went to 2,500 votes.

Shiv Sena MP Shrirang Appa Barne stated, “This election victory is the victory of the hard work done by the party workers. There are rumours going around about Sena-BJP tussle but there is no such brawl between the two parties. We have fought the election together and people have voted in favour of us as they were upset with the NCP governance. Our efforts to reach more close to the voters have been very fruitful; we went door to door and people chose us defeating NCP.”

“This win in the municipal council election has proved that the party still holds a strong position. Breaking the NCP’s 15 years rule has built confidence among the party workers and we will work harder for the elections ahead. Congress and NCP cannot break our force in Maharashtra.”

However, it is believed that the election for the Karjat Municipal Council was considered a prestige issue for NCP MLA Suresh Lad as there was a direct fight between his daughter Pratiksha Lad and Shiv Sena-BJP-RPI alliance candidate Suvarna Joshi. Earlier, Lad was caught up in a controversy of assaulting a government servant when he allegedly slapped the Deputy Collector (land acquisition) Abhay Kargutkar, reportedly after a disagreement over compensation to farmers for land acquisition. Later, in February 2018, the Metropolitan Magistrate court in Karjat had acquitted NCP MLA Suresh Lad of all charges after finding him not guilty as the prosecution failed to prove the case against him. Nonetheless, experts believe it as an obstacle for the NCP candidate for its defeat in the election.

NCP MLA Suresh Narayan Lad commented, “We accept the voter mandate against us and this defeat is not the end of our fight; we will work towards the welfare of the common man and will definitely win the upcoming state Assembly and general elections with a huge margin.”

Raigad Shiv Sena city president Suvarna Joshi took the lead by 2,100 votes and was elected as the president of Karjat Municipal Council. Ten candidates, including the candidate of Shiv Sena’s city president, have won in this election. In this election, Congress, NCP and opposition parties had strongly campaigned against the ruling BJP-Shiv Sena in the state, but the results showed that they did not succeed.

Significantly, NCP MLA Suresh Lad’s daughter Pratiksha Lad was directly appointed as the candidate for the post of District President. There are talks going on that will the voters’ once again indulge in ‘Lad’?

“We accept the voter mandate against us and this defeat is not the end of our fight; we will work towards the welfare of the common man and will definitely win the upcoming state Assembly and general elections with a huge margin.”

BJP MLA Pravin Darekar spoke to AV and asserted, “This win in the municipal council election has proved that the party still holds a strong position. Breaking the NCP’s 15 years rule has built confidence among the party workers and we will work harder for the elections ahead. Congress and NCP cannot break our force in Maharashtra.”

Enforcement of public awareness vital to prevent cybercrime

In the recent past, #censorship was a big debate on the social network; these days many accounts are deactivated or blocked by the social network authorities. In general, censorship in India, which involves the suppression of speech or other public communication, raises issues of freedom of speech, which is protected by the Indian constitution. A classic example of censorship in India is the Central Board of Film Certification or Censor Board which comes under the purview of Ministry of Information and Broadcasting. The Board regularly orders its directors to remove anything it deems offensive or subjects considered to be politically subversive. The censorship of films is governed by the Cinematograph Act, 1952. It assigns certification as Universal, Adults, and Parental Guidance to films in India before the public exhibition. The Indian government has earlier blocked around 250 websites, ordered Google and Facebook to pull content, threatened legal action against Twitter if it doesn’t delete certain accounts, and has arrested several people for sending provocative text messages, all in the name of public safety. Despite the government’s persistence being not as clear-cut as a case of state domination and over-reach, it turns out that the Indian government might be right to fear that technology, for all the very real benefits it’s brought to India, could also be helping to magnify ancient communal tensions in a way that costs lives and perhaps even worse as it might also destabilise the delicate social balance within the world’s second-largest country. Technology didn’t cause any of this, of course. But social media and text messaging, both of which are becoming increasingly common in reaches of India’s enormous lower and middle classes, accelerated the flow of rumours and of inflammatory images. The government, unable to counter the destabilising rumours, shut down some of the means of their dispersal. Whether or not the Indian government’s censorship does anything to calm this crisis, their apparent desperation is understandable. Still, India’s willingness to censor the web is part of the government’s longer-running effort to standardise the Internet, to which Western governments and web freedom advocates have persistently objected. Some of India’s sweeping restrictions compel web companies like Google and Facebook to self-police and then self-censor, any content that could be perceived as profane or offensive to ethnic groups. Web freedom activists distinguish this as little more than an excuse for online authoritarianism, and they’re probably often correct. We cannot isolate our self from this but can make a safe distance to access genuine information. Moreover, the parallel system needs to strict the security norms so that any state information and data is not in the reach of common citizen of the country.

Censorship might help controlling situation but this will remain as superficial treatment of the problems that country is facing.

Being a person from Cyber Security, I know how much it is simple for us to fool the inexperienced people on the internet and then use those resources to do something illegal and improper. There should be a body which will not only work towards the security of cybercrime in government and Militant organisation but also work towards enforcement of awareness of cybercrime. It is always better to take precautions. Rapidly increasing two-edged sword, Social media has created a vibrant online community and widened public discourse, allowing a platform for activists with a thousand causes. On the flip side, it has also become a vehicle of skewered misinformation. The perspective of an individual using a social networking site in an enigmatic manner is much more in a social networking site than in a social media. There is no procedure for registration and ownership and so there is no way to pin down the culprits.

Censorship has become a weapon in the hands of the State to make people agree with its ideology. Now it is the time to look into the role that can be played by healthy criticism, analysis, and cinema literacy, posts, cartoons, blogs or tweets rather than relying on controllers that acts as moral police, stopping the dissent. Information technology seems to be the latest weapon of waging proxy wars. Countries have borders and restrictions to each other’s jurisdiction, but cyberspace has no boundaries. Recent NE exodus was a disastrous moment for Indian Citizens and Government. With 2-3 online users and couple of hours of editing work, various groups were able to trigger the most massive internal exodus of People in India and nationwide protests. Most of the public who does this assumes that they do this with a false sense of secrecy.

Moreover, the parallel system needs to strict the security norms so that any state information and data is not in the reach of common citizen of the country.

While Cyber War between India and Pakistan is not new, it was limited to the hacking of each other’s websites. Interestingly, this time it may not have been carried out by the so-called hackers. Since then, it was easy to spread hatred than to block websites, the whole episode would have been carried out by 4-5 Social Media addicts. The law is there to prevent this, but enforcement is far from adequate. There are many such instances and evidence that one country rages its anger or one particular religion condemns another religion hurting its sentiments online. The fact that there is a proof of some Pakistani organisations uploading obnoxious and provocative stuff on the Internet, leading to the exodus of people of the northeast from Bangalore, Chennai, Hyderabad and other cities, shows that some elements from across the border want to knock off the balance of our country. To prevent their designs, we, people, should defy such provocations. In the wake of the recent Assam riots, the rest of the country should have stood together to condemn all forms of violence. But we did not do so. It was our prejudice and lack of unity that contributed to the success of the mischief-mongers. To control the situations and stabilise the country, the Government opted for censorship. There is no point in blaming the government. At least the educated should take pains to verify the truth. Pointing a finger at Pakistan will not solve the problem. The crisis has brought the social media to the forefront, relegating the print and electronic media to the background. Perhaps it is one more revolution in the history of mankind. It is clear that people today believe in non-stop, one-to-one communication/conversation, rather than the mass media. Anyway, censorship might help controlling situation but this will remain as superficial treatment of the problems that country is facing. Making the people aware of the “cyber threat” is need of an hour but censorship can’t be the exact way out. India really requires proper systems to be adopted in order to be safe or else this might really create big disasters in the future. In the information age, we cannot lock our cyberspace because it is among one of the main tools for the sustainable development of the state. But curbing of cyber-attack in any form, either cyber war or putting illegitimate material on the web, has really become necessary around the globe. Though we are having strict policies but we are not guarding our information web properly which is causing recent NE exodus type of events. Technology can be a great rescuer, but can it sometimes be a public menace?

 


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Vodafone Idea partners with Sun TV Network

Vodafone Idea and sunnxt cover

Telecom operator Vodafone Idea on Monday announced a strategic partnership with Sun TV Network, to strengthen content offering in southern India.

The partnership will offer customers of Vodafone Idea access to Sun NXT’s, Sun TV Network’s over-the-top platform, exclusive digital content.

“Sun TV Network’s OTT platform, Sun NXT, caters to Tamil, Telugu, Kannada and Malayalam audiences having over 50,000+ hours of content and will now be accessible to Vodafone Idea customers,” Vodafone Idea said in a statement.

With this partnership, Vodafone Idea has broadened its bouquet of regional content, the statement said, adding that Sun NXT would offer over 30 live TV channels, 4,000-plus movies and repository of TV shows, music videos and short format content on both Vodafone Play and Idea Movies & TV App.

 

Bank of India Q3 net loss widens to Rs 4,738 cr

The Bank of India

State-owned Bank of India on Monday reported widening of its net loss to Rs 4,737.56 crore in the third quarter ended December 2018, hit by nearly two-fold jump in provisioning for bad loans. Its net loss was Rs 2,341.20 crore in the October-December period of 2017-18. However, the total income of the bank rose to Rs 11,839.53 crore during the reported quarter of 2018-19, as against Rs 10,376.03 crore in the same period a year ago.

Bank’s provisions for bad loans soared to Rs 9,179.48 crore in the December quarter, up from Rs 4,373.06 crore in the same period previous year. Although, the bank improved on its asset quality with the net non-performing assets (NPAs) trimming down to 5.87 per cent of the net advances as on December 31, 2018, as against 10.29 per cent by the end of December 2017.

Gross NPAs (or bad loans) were down slightly at 16.31 per cent of the gross advances from 16.93 per cent a year ago. In absolute terms, the gross NPAs of the bank stood at Rs 60,797.55 crore at end-December 2018 from Rs 64,248.58 crore a year ago period. Net NPAs were valued at Rs 19,437.35 crore as against Rs 36,117.23 crore.

“During the quarter ended December 2018, the bank has made additional provision of Rs 5,098.74 crore in view of uncertainty of recovery and deterioration in value of underlying assets in respect of 331 NPA accounts. In respect of RBI referred NCLT accounts (list 1 & 2), the bank has made a provision of Rs 572 crore during the quarter ended December 31, 2018, due to uncertainty of recovery. The provision held in respect of NCLT accounts stood at Rs 6,939.02 crore as on December 31, 2018, representing 100 per cent of the outstanding value,” it added.

Bank of India further said that there was a recovery of Rs 2,360.79 crore (including Rs 561 crore received in Bhushan Power and Steel Ltd) with respect to accounts referred to the National Company Law Tribunal (NCLT) as per the list 1 of the Reserve Bank. However, the resolution of NCLT accounts to lead to lower gross NPAs. Stock of the bank slumped 3.97 per cent at the close of business on BSE at Rs 90.60.