Congress president Rahul Gandhi is likely to skip Mamata’s rally and the Congress has deputed its leader in the Lok Sabha, Mallikarjun Kharge, to represent the Grand Old Party at the event. However, Gandhi extended his support to Mamata Banerjee on Friday for her “show of unity” in Kolkata on January 19 and hoped that it would send a powerful message of a united India.
In a letter to Banerjee, the Congress chief commended the “great people” of Bengal, who had “historically been at the forefront of defending our ideals”.
“I extend my support to Mamata Di on this show of unity and hope that we send a powerful message of a united India together,” Gandhi wrote in the letter.
In a Facebook post, he said, “The entire opposition is united in our belief that true nationalism and development can only be defended on the tested pillars of democracy, social justice and secularism, ideas that the BJP and Mr Modi are intent on destroying.”
In his letter to Banerjee as well as in the post on the social media platform, Gandhi said there were powerful forces that were fanned by the anger and disappointment of millions of Indians, who had seen through the “false promises and lies peddled by the Modi government”.
“These forces are moved by the hope of a new tomorrow; a tomorrow filled with the idea of an India in which the voice of every man, woman and child will be heard and respected no matter what their religion, economic status or region is,” he said.
A host of Opposition leaders are likely to attend the Trinamool Congress supremo’s rally in Kolkata on Saturday, which is being projected as her “show of opposition strength” ahead of the Lok Sabha polls.
Five-time Grand Slam winner Maria Sharapova upset defending champion Caroline Wozniacki to reach the Australian Open fourth round on Friday after an epic three-set match.
The Russian, who is seeded 30 at Melbourne Park, bundled Denmark’s world number three out of the tournament 6-4, 4-6, 6-3 to claim her biggest scalp since returning from a drugs ban in 2017.
Sharapova’s win sets up a last 16 clash with in-form Australian hope Ash Barty for the 31-year-old, who won the tile at Melbourne Park in 2008 and has reached the final a further three times.
“I knew I was going to get a really tough match as she’s the defending champion of this event and it’s no secret she loves this arena,” she said after shocking Wozniacki.
“I haven’t played many matches in the last year, especially against top players and these are the ones I train for, so it’s really rewarding to win.”
There were dramatic momentum shifts in the battle between the two former world number ones, but the decisive period came when Sharapova stormed back from 4-1 down to go on a five-game winning streak and take the first set.
After Wozniacki came back she then broke the Dane late in the third set, screaming “come on” after gaining the advantage.
Sharapova won her last Grand Slam at Roland Garros in 2014 and has struggled to rejoin the game’s elite since completing a 15-month ban for failing a drugs test.
Dense fog enveloped several parts of Delhi on Friday morning, leading to disruption of flight operations at the Indira Gandhi International (IGI) Airport. Departures were largely put on hold at the airport between 5.30 am and 10.20 am due to dense fog. Arrivals were happening only intermittently between 6 am and 7.20 am. Five flights were diverted between 5.30 am and 10.20 am from the Delhi airport. One of the flights was coming from Singapore and it was diverted to Kolkata, an official said.
Very few aircraft are departing and that too on the basis of their size, visibility and ATC (air traffic control) clearance for taking off. At Delhi, the minimum runway visibility required for takeoff is 125 metres. The Delhi airport was facing low visibility conditions since 4 am due to dense fog. The visibility significantly improved between 9.20 am and 10.20 am. This allowed us to resume departures properly from 10.20 am onward, the airport official said.
Vistara Airlines tweeted at 8.23 am, Due to dense fog and poor visibility in Delhi; delays are expected for both arrivals and departures with likely consequential impact on flights across the network. Currently, flight departures from Delhi are on hold and will resume by 0930 hrs subject to weather clearance.
Jet Airways also tweeted at 6.33 am that some of its flights had been affected due to dense fog at Delhi and Bengaluru airports.
(NATION, FEATURE)
Senior Congress leader P Chidambaram on Friday accused that the government of compromising national security and asked why did it buy only 36 Rafale fighter jets instead of the 126 required by the Air Force.
His comments come in the wake of fresh revelations on the Rafale deal in a media report which claimed that the Prime Minister Narendra Modi’s decision to buy 36 aircraft instead of the 126 asked for by the Indian Air Force pushed the price of each jet up by 41.42 per cent.
In the light of new facts and revelations in THE HINDU, the question gains greater urgency: why did the government buy only 36 Rafale aircraft instead of 126 aircraft required by the Air Force? The Government has compromised national security by denying to the Air Force the 7 squadrons (126 aircraft) that it desperately needs, he said.
Congress leader Jyotiraditya Scindia also took to twitter to demand answers from Modi on the increased cost of aircraft.
The PM’s unilateral decision to buy 36 Rafales resulted in a price escalation of 41.42% per jet. When will the prime minister answer? he asked.
In a plea filed by one women amongst two, who had also been attacked by her mother-in-law following her entry into the hilltop shrine, the Supreme Court directed the Kerala police on Friday to provide round-the-clock security to two women who had entered the Sabarimala temple
The plea sought directions to all authorities to allow women of all age groups to enter the temple without any hindrance and to ensure security and safe passage, including police security to women wishing to enter the temple in future. It also pointed to danger to her life and liberty.
Two women of menstruating age group – C, 44, and Bindu, 42, had stepped into the Sabarimala temple of Lord Ayyappa, breaking a centuries-old tradition and defying dire threats from the Hindu right. Following the entry of the women into the shrine, the chief priest had decided to close the sanctum sanctorum of the temple to perform the ‘purification’ ceremony.
Earlier, the top court had said that it may not start hearing pleas seeking a review of the Sabarimala verdict from January 22 as one of the judges was on medical leave.
A bench comprising Chief Justice Ranjan Gogoi and justices LN Rao and Dinesh Maheshwari said it was only going into the aspect of security to the two women and would not like to entertain any other prayer.
The bench also refused to tag the matter along with the pending petitions in the Sabarimala case.
On September 28 last year, a five-judge Constitution bench, headed by then Chief Justice Dipak Misra, in a 4:1 verdict paved the way for entry of women of all ages into the Sabarimala temple, saying the ban amounted to gender discrimination.
Despite the Supreme Court’s historic ruling, permitting women in the 10-50 age group, no children or young women in the ‘barred’ group were able to offer prayers at the shrine following frenzied protests by devotees and right-wing outfits.
The Rashtriya Swayamsewak Sangh (RSS), who is miffed with the BJP-led government at the Centre for the delay in the construction of a Ram temple in Ayodhya has mockingly said that the temple will be built in 2025.
Amid political turmoil over the issue of construction of Ram temple, RSS General Secretary Bhaiyaji Joshi on Thursday said that the country would start developing rapidly after the construction of Ram temple in 2025. When construction of Ram temple begins in the country in 2025, the nation would start developing rapidly. The growth rate in the country will increase at the same pace as it did after the construction of Somnath Temple in 1952. After the construction of Ram temple, the country will get capital for the next 150 years.
The RSS believes that the Prime Minister Narendra Modi led government at the Centre would not take needed steps towards the construction of the Ram temple even if they win the 2019 Lok Sabha polls.
The Babri Masjid, built by Mughal Emperor Babur in 1578 in Ayodhya was on December 6, 1992, pulled down allegedly by a group of Hindu activists, claiming that the mosque was constructed after demolishing a Ram temple that originally stood here.
The Lucknow bench of the Allahabad High Court in its September 30, 2010, verdict ordered that the disputed site be divided into three parts, one for deity (Ramlala Virajmaan), another for Nirmohi Akhara – a Hindu sect and a third one, to the original litigant in the case for the Muslims.
The Ram Janmabhoomi-Babri Masjid dispute case has been pending before the apex court for last eight years. Parties in the case and various right-wing organisations have been asking for an early or day-to-day hearing for a long time. There are as many as 14 appeals pending in the apex court against the 2010 Allahabad High Court judgment, delivered in four civil suits.
The Supreme Court recently fixed January 29 as the next date of hearing in the Ram Janmabhoomi-Babri Masjid dispute after Justice UU Lalit recused himself from hearing the case.
Vijaya Bank and Dena Bank will merge in Bank of Baroda on April 1, 2019. The first time, three banks in the country will be unified. The bank formed by this merger will be the country’s second largest public sector bank (PSU) and the third largest bank in terms of asset allocation. State Bank of India (SBI) is the largest bank in the country while the HDFC Bank is in second place. The Union Cabinet approved the merger of Vijaya Bank and Dena Bank in Bank of Baroda on January 2, 2019. In a statement, the government said that Bank of Baroda would be a transferable bank while Vijaya Bank and Dena Bank would be the transfer bank. This means that small banks will be merged with a large bank and will maintain their identity. In this way, the name of the bank is not likely to change. By September 2018, the combined assets of these three banks were Rs 10.44 lakh crore. Then, the total assets of SBI were Rs 34.86 lakh crore and HDFC Bank’s Rs 11.70 lakh crore. According to the June figures of last year, the total number of employees of Bank of Baroda, Dena Bank, and Vijaya Bank is 85,675 and their number of branches is about 9,500. The government has assured that no employee will be removed from service, but some branches may be closed for rationalization of number branches and offices.
According to information provided to the Bombay Stock Exchange (BSE), investors will get 402 and 110 equity shares of Bank of Baroda, respectively, on 1,000 shares of Vijaya Bank and Dena Bank. However, what would be the status of top management in the bank, formed after the merger is unclear. Head of Dena Bank is Karnam Shekhar, RA Shankar Narayanan of Vijaya Bank, and Chief of Bank of Baroda is PS Jaya Kumar.
According to the closing price of January 2, 2019, the ratio of exchange of shares is in favor of the Bank of Baroda. According to Dena Bank’s stock price, it will be 27 per cent loss, while Vijaya Bank will be in 6 per cent. Vijaya Bank is acquiring approximately 15 per cent of equity shares in comparison to its adjusted price. However, experts say that after the merger, due to Dena Bank, the asset quality of the new bank will be downgraded. It is also being said that due to the NPA of Dena Bank, the financial position of Bank of Baroda will be in bad condition in the initial phase of the merger. Also, due to changes in technology and potential provision requirements for NPAs, the profitability of the bank in the near future may be affected, though, these reasons would be temporary, can be expected.
Earlier Attempts towards Bank’s integration
The integration of PSUs was considered several times after 2003, but no concrete strategy could be made. Human resource, technology, salary and allowances, systems, etc. not to be in uniformity was one of the major reasons. To unify the union for integration, adjusting human resources, arranging compensation in case of inconsistency, etc. were also important constraints in the matter. In connection with the integration, the committee formed under the chairmanship of RS Gujral had given the report to the government in January 2012, in which PSUs were recommended to form seven major banks. Roadmap for the integration of PSUs was prepared by the Bank Board Bureau and for this; PSUs were divided into six groups. The decision of the groups of banks was taken by making a basis for human resources, e-governance, internal audit, the position of fraud, CBS (core banking solution). There are currently seven large size banks in India, but the government believes that in order to remain competitive at the international level, there is a need for bigger banks in the country whose identities are world-class. It is worth mentioning that after the merger of associate banks and women banks, the State Bank of India has come in the category of 50 big banks in the world.
Why integration is necessary
In the current perspective, the integration of PSUs is the only option, because banks need huge capital for mounting NPA, the pressure to meet the different standards of Basel III, strengthening the infrastructure of banks, etc. Also, providing better services and safe banking facilities to customers is also a major challenge for PSUs. In present circumstances, neither the banks are capable of meeting the growing needs of neither the banks nor the government. The way NPAs and fraud graphs are increasing, the small banks are facing difficulties in saving their existence. Gross NPA of all banks increased by 11.2 per cent in the Financial Year (FY) 2017-18, which is in amount Rs 10.39 lakh crore, in which the NPA of PSUs were Rs 8.95 lakh crore in per cent term that is 14.6. It is worth noting that in the FY 2016-17, the gross NPA of all the banks was 9.3 per cent, while the gross NPA of PSUs was 11.7 per cent. The report, named “Trendz and Progress of Banking in 2017-18” released by the Reserve Bank of India, has said that the process of conversion of restructured loans into NPAs has been completed. Also, the process of identifying the hidden NPAs has also been completed. In the FY 2017-18, the gross NPA and total debt ratio reached to 14.6 per cent, while the net NPA and total debt ratio was 8 per cent, which was 6.9 per cent a year ago. However, the proportion of gross bank debt of private banks was 4.7 per cent during the corresponding period, which was 4.1 per cent a year ago.
Attempts to solve the problems of banks
The government will soon put a capital of Rs 28,615 crore through recapitalisation bonds in seven public sector Banks.
With this amount, the bank will be able to meet its regulatory capital requirement. Out of these seven PSUs, Bank of India will get the maximum Rs 10,086 crore. After this, Oriental Bank of Commerce will get Rs 5,500 crore and Bank of Maharashtra Rs 4,498 crore. The UCO Bank will get Rs 3,056 crore and United Bank of India Rs 2,159 crore. Earlier, in the year 2018-19, the government had announced a capital infusion of Rs 65,000 crore in PSUs. Out of this, Rs 23,000 crore has been given to the PSUs, while Rs 42,000 crore is still available to the banks. According to Finance Minister Arun Jaitley, the government will pay Rs 41,000 crore more to the PSUs, which will be different from the earlier declared amount. By providing capital to PSUs, at least two or three banks will come out of the Prompt Corrective Action (PCA) till March 2019. According to Finance Minister Arun Jaitley, this will increase the ability to lend of PSUs. The PCA is imposed on those banks which cannot follow certain important financial parameters. After being put into PCA, banks are banned to give loans and open new branches.
Advantage of Integration
There is a consensus among the banks that after the integration of banks, there will be a reduction in operational costs and other expenses, increase in profits, ease of risk management, better performance, speed up in capital formation etc. It is likely to increase trained human resources, decrease in training costs, an increase in the availability of capital and resources, reduction in fraud cases etc. In a large and diverse country like India, banking services cannot be turned away from rural areas. Providing banking facilities in rural areas is still a big challenge for the government. After the integration, their presence in the rural areas will further increase. The social, political and economic nature of India is favorable to the big banks because big banks can provide equally superior customer facilities in such a large country. Having a global presence will help the customers of the banks to get uniform service both at home and abroad.
Conclusion
It can be said that ensuring the reduction in operating and other expenses will increase the profitability of the big banks. With the availability of capital, they will be able to lend to customers at a cheaper rate. With the help of adequate human resources, large banks will be able to work better on the front of NPA and risk management, which will increase both their credibility and profitability.
At present, small banks are unable to meet international banking standards due to lack of capital. They are also not able to provide loans to customers at a cheaper rate. Even in NPA and risk management front, they are not performing well. In the absence of better technology & sufficient resources, their customer service is not good. In such a situation, the public sector banks will perform better on every front can hopefully be expected.
Satish Singh
(Disclaimer: The opinions expressed within this article are the personal opinions of the author. The facts and opinions appearing in the article do not reflect the views of AFTERNOON VOICE and AFTERNOON VOICE does not assume any responsibility or liability for the same.)
I welcome the SC’s decision on dance bars. Every major city in the world has a nightlife. It is the only mode of entertainment. As long as money is not thrown on dancing girls, drug abuse is avoided, women are not exploited and there is no forced prostitution. But, the authorities must ensure that such places do not become a den of prostitution for goons to operate.
Jubel D’Cruz
RS member mocking illness of Amit Shah
It refers to the unfortunate mocking of illness of BJP President Amit Shah by four-time Rajya Sabha member BK Hariprasad of Congress. Every sensible politician always exhibits courtesy to send good wishes for early recovery even to bitter-most political rivals. However, BK Hariprasad broke all records of inhumanity by cursing a seasoned politician on his illness.
Politics and political happenings apart, Congress President should feel regret on ugly comments made by the senior leader of his party to prevent the downfall of Indian politics to as low as has been made by BK Hariprasad.
Madhu Agrawal
Kerala govt and NCW should interfere
It refers to shocking news about the Jalandhar-based Missionaries of Jesus asking four nuns to comply with transfer order and move out of the congregation-premises in Kottayam after they staged a protest demanding the arrest of Bishop Franco Mulakkal, who has been accused of rape by a nun. It is noteworthy that the protest by nuns had led to of Franco Mulakkal removal as bishop of Jalandhar. While the four nuns have been issued transfer-orders to four different states, another one Neena Rose also having participated in protest has not been issued transfer-order.
Such transfer-posting of nuns is a punishment for standing for justice in favour of their colleague. Kerala government and National Commission for Women NCW should intervene in the matter to ensure that four nuns may not be punished through transfer-posting till finalisation of the rape-case against Franco Mulakkal who was even once arrested for the rape-charge levelled against him. Religion must not be taken as an excuse where so many self-acclaimed religious heads of Hindus were treated as per law for notorious acts committed by them.
Subhash Chandra Agrawal
Increase frequency
The train number 17309/17310 Yeswantpur-Vasco Bi-weekly Express runs from Bengaluru via Hubballi-Londa-Madgaon Junction. The train has now formed as an important lifeline connecting to Goa especially during festivals and holiday seasons. As the train links Madgaon which acts as a prominent transit station on Konkan Railway and helps the passengers to quickly connect towards Mumbai and its suburb stations like Navi Mumbai, Belapur, Vashi, Panvel, Vasai Road, Kalyan, and Thane.
Sir, since long the train has been operating only on a bi-weekly basis without much change in either increase in the frequency or extension of the train to run on a daily basis. This has caused an inconvenience to many regular passengers as there is now an urgent need for a daily train to Madgaon from Bangalore. Though the arrangement to connect to Vasco and Madgaon exists through slip coach from Bangalore by 16589/16590 Rani Chennamma Express, it is of little help as the slip-coach consists of just one AC 3 Tier and one Sleeper class.
As Bangalore is now witnessing the heavy influx of passengers to Goa all through the year due to the holiday season, festivals and popular events like International Film Festival of India held every year in Goa, there is a now a high necessity for daily train connectivity to Madgaon. The connectivity may be arranged with a suggestion to increase in the frequency of the existing 17309/17310 Yeswantpur-Vasco Bi-weekly Express to run as a daily train.
Hence this is a kind request to the concerned authorities of Konkan Railway administration (headquartered at Bealpur CBD, Navi Mumbai) to urgently consider the suggestion to increase the frequency of 17309/17310 Yeswantpur-Vasco Express from the existing bi-weekly service to a seamless daily service. Upon commencement of the daily services, the present slip coaches arrangement by Rani Chennamma Express may also be merged, into its existing rake for further optimum utilization.
Varun Srinivas
(The views expressed by the author in the article are his/her own.)
January 12 is celebrated as the National Youth Day every year since 1985 which has been an indelible part of India’s tradition. Incidentally, this was also the day when Swami Vivekananda, one of the greatest social reformers, thinkers, and philosophers of India, was born. He was the pioneer in leading the youth to meaningful protests through associations. The philosophy, ideas, and teachings of Swami Vivekananda can justifiably be called national assets from traditional and cultural points of view. At the same time, the youth are the future of our country. He belonged to the 19th century, yet his message and his life are more relevant today than in the past and perhaps, will be more relevant in future because persons like Swami Vivekananda do not cease to exist with their physical death.
He said, “My faith is in the younger generation, the modern generation, out of them will become my workers they will work out the whole problem. They will spread my message from centre to centre until we cover the whole of India.” He had to arise and awake a Nation which felt like a slave, under the shadow of the British and the west. It would be difficult to name any freedom fighter that time and afterwards also, who were not influenced by the thoughts, ideals, and patriotism of Swamiji. Actually, if we analyse critically we will find that development of oneness, unity and the role of Indian became clear to everybody only after the speeches and works of Swami Vivekananda. In many places during his lecture session he had said, “Our country requires a hero, be a hero, stand firm like a rock. Be brave, Man dies but once”. Youths are everything, they have the capability to do anything out of the box, the only thing they need is the direction or a mentor for the future of our country.Today, the youth need safe spaces where they can come together, engage in activities related to their diverse needs and interests, participate in decision-making processes and freely express themselves. The youth is considered to be the best asset of any country and investment in the human resource promises astonishing returns.
Swami Vivekananda’s teachings and Philosophy is very much relevant today. The number of problems that the nation is facing today can be solved through his teachings. Swamiji’s life and speeches are capable enough to develop in anybody the patriotic feelings and in return, the person is bound to contribute in the Nation Building. His call to the nation is: “Arise, awake; wake up yourself, and awaken others. Achieve the consummation of life before you pass off. Arise, awake, and stop not till the goal is reached.”
I would like to conclude with one of his quotation “My hope of the future lies in the youths of character, intelligent, renouncing all for the service of others, and obedient – good to themselves and the country at large”. Our elders need to understand that a little space and trust shown in them will open the doors of the opportunities for the youngsters.
Swami Vivekananda taught us the essence of nationalism in his bold writings. He wrote: “Our sacred motherland is the land of religion and philosophy- the birthplace of the spiritual giants – the land of renunciation, where and where alone, from the most ancient to the most modern times, there has been the highest ideal of life open to man.”
(The views expressed by the author in the article are his/her own.)
RSS chief Mohan Bhagwat said requisite steps need to combat killings on the border, as soldiers are being martyred sans a war-like situation in the country.
“In our country, there is no war at the moment, still people (soldiers) are getting martyred…Because we are not doing our jobs properly. We need to make efforts in this regard. If we want our country to reach the top, then we all should learn to sacrifice,” he said at a gathering here on Thursday.
Furthermore, Bhagwat said the responsibility of safeguarding the country should not be solely shouldered by the Forces.
“Everybody has to make efforts in this regard. This is not something for which we can give a contract to somebody. We keep thinking that the government will do it or the army will do it, the police will do it, but it’s not like that, the entire society has to make efforts,” he opined.
Citing the example of Israel, Bhagwat noted: “If one looks closely, after 70 long years, those countries in comparison with India have done better in terms of growth and development. Israel is a classic example. The natives were weed out before the 19 c. But citizens there gradually came back to their country and started their businesses, trade etc. Finally, in 1948 they got independence.”
The RSS Chief speaking at the silver jubilee of the Prahaar Samaaj Jagruti Sanstha.
Congress president Rahul Gandhi is likely to skip Mamata’s rally and the Congress has deputed its leader in the Lok Sabha, Mallikarjun Kharge, to represent the Grand Old Party at the event. However, Gandhi extended his support to Mamata Banerjee on Friday for her “show of unity” in Kolkata on January 19 and hoped that it would send a powerful message of a united India.
Five-time Grand Slam winner Maria Sharapova upset defending champion Caroline Wozniacki to reach the Australian Open fourth round on Friday after an epic three-set match.
