Shiv Sena Slams Centre, Calls Act Of Using Water Cannons On Protesting Farmers As ‘Cruel’

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November 30, 2020

farmers protest, farmers protesting, ambala police, water cannons, protest, shiv sena, sena, saamana, sanjay raut, punjab police, centre, bjp — Image Courtesy: PTI

Shiv Sena on Monday slammed the BJP-led regime’s treatment meted out to protesting farmers, adding it was cruel to use water cannons on them amid a cold wave sweeping parts of north India. The farmers have been protesting at Delhi’s borders for five days against the new farm laws and have said they will not accept any conditional dialogue and threatened to block all five entry points to the national capital.

“Our farmers are being treated as terrorists and attacked Delhi borders while terrorists are killing our soldiers on the border in Kashmir,” an editorial in Shiv Sena mouthpiece Saamana said. The Sena singled out Haryana Chief Minister Manohar Lal Khattar for claiming a Khalistani link in the protests.

“BJP wants to create anarchy. Khalistan is a closed chapter for which Indira Gandhi and General Arunkumar Vaidya laid down their lives,” it said. “The government is using all its might to crush political opponents but why is this determination not seen while dealing with the country’s enemies,” it asked.

In the last one month, 11 soldiers from Maharashtra attained martyrdom while fighting enemies on the borders, the Sena said. Referring to the giant statue of Sardar Patel “erected by PM Narendra Modi and Amit Shah” in Gujarat, the editorial said Patel was also a leader of farmers and led many farmers’ agitation against the British. “His statue’s eyes must be moist now seeing how farmers are being treated,” it said.

Central agencies like ED and CBI are being used as weapons against political opponents, the Sena said. “These agencies should also get a chance to display their valour,” it said and suggested that (personnel of) ED and CBI should be deployed in Ladakh and Kashmir to help the Army fight India’s enemies.

Electricity Bill Horror Post Lockdown

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Vaidehi Taman

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November 29, 2020

Prolonged and unplanned lockdown came up with many challenges to commoners; above all there is an inflated power bill that has given them nightmare. Month-to-month doubling of a residential electric bill is not an unusual incidence in India. It’s usually climate related, either lots of extra air conditioning during a summer heat wave, or lots of extra indoor space heating during the passage of a winter arctic air mass. Sometimes long stays at home also causes a lot of power bills because of our dependency on microwaves to geysers and all possible electric appliances for routine life. Scale on the water heater’s heating element could increase the amount of power needed to achieve a given temperature, but that would be a more gradual effect over several months. For a smaller house with a swimming pool pump, continuous operation of the pool pump might cause a doubling of the electric bill. This could happen if both pins were removed from the pump timer while the pump was running, or if a smart pool control system malfunctioned. Usages of TV, AC, Fridge, lights, computers, laptops and many other appliances definitely brings rise in electricity bills. Home electricity bills are going to rise when you spend more time at home. Some of it is unavoidable. At the same time, you will be saving on travel expenses and various outdoor expenses.

The Bill is for average of previous months but now actual bills came up with the last 3 to 4-month total impact, due to all being at home in lockdown and summer we used our all air-condition long time, during AC on we sometimes missed to close door windows properly. Some people do not even bother to get AC service in time. Work from home might be cutting your cost on travel and outside eating, some amount might get increased in electricity bill because this time your office is not spending for your computer operations or Wi-Fi or AC, it’s your home power is consumed. We work from home so laptops and TV also charge many times compared to routines, even restaurants closed so household electrical homes appliances used more. Your electricity bills might have gone higher compared to previous years’ same months. Your payment of the electricity bill has been pending for the past 3 months since no reading was taken due to lockdown. Hence the latest bill is for 3 months. MSEDCL has revised the tariff from 1st April 2020 upwards. You can see the new tariff on the reverse page. If you want to look into the calculation you have to register & login to their website and ask for the calculation. Easiest way is to compare it with the last 3 months consumption for the previous year. If your consumption is nearly the same those 3 months, you will find new total billing will be approximately 10% more. Post lockdown the things are not as horrible as it was, by now everything is almost streamlined.

If businesses come to a sudden stop, one way to deal with the situation is to `freeze the clock’. Nobody does any transaction and people carry on once the lockdown is lifted. In theory this will work but in practice there are some bills that have to be paid. This includes farmers for producing food, the extremely poor who do not have enough food to survive, pension to old people who do not have any support. In the order of priority, the relief has to first go to those who do not have anything. Right now, is too early to assess the kind of financial relief that needs to be provided. If relief is granted to everyone, irrespective of their financial position, the economy could seize up. So, asking for subsidy on bills is not a fair thing to do. Without getting panic you can be a little smart to consume required electricity, look around your house to find things that can be more efficient. Just check whether you keep your house really hot in the winter and really cold in the summer? Do you leave lights on? Do you use old bulbs that aren’t as energy efficient? Basically, use your head. Some places just naturally have high energy bills, but you can do a lot to mitigate costs and save cash here and there. Check also with your utility companies, sometimes they have rebates and programs to help pay for electricity in exchange for other things. Now During lockdown situations, we mostly stay at home. Most of our Electrical appliances are running. This means our domestic consumption is going to be increased. This was not significantly more.

The Indian economy has experienced unprecedented economic growth over the last decade. Today, India is the ninth largest economy in the world, driven by a real GDP growth of 8.7% in the last 5 years (7.5% over the last 10 years). In 2010 itself, the real GDP growth of India was the 5th highest in the world. This high order of sustained economic growth is placing enormous demand on its energy resources. The demand and supply imbalance in energy is pervasive across all sources requiring serious efforts by the Government of India to augment energy supplies as India faces possible severe energy supply constraints. Projection in the Twelfth Plan document of the Planning Commission indicates that total domestic energy production of 669.6 million tons of oil equivalent (MTOE) will be reached by 2016-17 and 844 MTOE by 2021-22. This will meet around 71 per cent and 69 per cent of expected energy consumption, with the balance to be met from imports, projected to be about 267.8 MTOE by 2016-17 and 375.6 MTOE by 2021-22. The country has significant potential for generation from renewable energy sources. All efforts are being taken by the Government of India to harness this potential. The Installed capacity as on 31st March, 2016 from renewable energy sources is 42,849 MW. The Total Renewable Installed Capacity comprises 26,866.7 MW from Wind, 4,273.5 MW from Small Hydro Plants, 4,946.4 MW from Biomass Power & Biomass Gasifiers and 6,762.9 MW from Solar power & Urban & Industrial waste. India ranks fourth in the world in terms of installed capacity of wind turbine power plants. Our country is progressive by all means; right now the global pandemic has clutched us all. Electricity bills are inflated and people are panicking but the reason for bills suddenly gone high has a simple answer too. Meanwhile all electricity boards have promised for the manual check and meter readings; if they find any disparities they would adjust all your payments once lockdown is called off.

Exaggerated Electricity Bills: State Power Minister Nitin Raut Exposes Opposition

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Afternoon Voice

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November 29, 2020

Maharashtra NavNirman Sena and BJP in opposition tried using the issue of inflated electricity bills to their political vengeance by warning of intensifying its agitation. Exposing Raj Thackeray and another dozens of leaders who are appealing people not to pay electricity bills, Maharashtra power minister and congress leader Nitin Raut said all of these leaders have duly paid their bills in time, however they are now provoking consumers to avoid payments risking disconnection of electricity.

According to Raut, all those institutions and establishments associated with political patrons and VVIP’s have paid the electricity dues in time. They are misleading the people of state by playing foul, this is nothing but sabotaging the government. Electricity supply was interrupted in Mumbai due to TATA’s incoming electric supply failure causing power loss all over Mumbai and suburbs, also disrupting train traffic of Central, Eastern and Western lines, according to Brihanmumbai Electric Supply and Transport (BEST). Raut told journalists, which the opposition is at its best in creating unrest but people should not fall in this trap.

Meanwhile, BJP accused the staffers of the BEST and police of misbehaving with its leaders, including women corporators, when they approached its general manager at the latter’s office here to raise the issue of inflated bills. For the moment, BJP leaders burnt copies of bills outside the party’s office in Mumbai but the state government has decided to expose oppositions double standards.

India To Enhance Bilateral Ties With Seychelles In Post-COVID Era: EAM Jaishankar

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Afternoon Voice

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November 29, 2020

India has vowed to further enhance its strategic partnership with Seychelles in the post-COVID era as External Affairs Minister S Jaishankar held high-level talks with the country’s top leadership during his two-day visit to the key Indian Ocean nation. Jaishankar, who arrived here from the United Arab Emirates, also visited Bahrain as part of this three-nation tour which began on Tuesday.

During his visit, he called on Seychelles’ newly-elected Indian-origin President Wavel Ramkalawan on Friday and congratulated him on his recent electoral victory. Jaishankar and Ramkalawan discussed the historical neighbourly relationship strengthened by a shared belief in values of democracy and rule of law.

He “iterated India’s resolve to further enhance the India-Seychelles strategic partnership in the post-COVID era,” the Ministry of External Affairs said in a statement on Saturday. The minister also “spoke of the centrality of Seychelles to India’s vision of SAGAR (Security And Growth for All in the Region) that characterised India’s policy towards the Indian Ocean Region. As a neighbour across waters, Seychelles was very much a part of the Neighbourhood First policy as well,” it said.

Jaishankar also carried a personal message from Prime Minister Narendra Modi and conveyed an invitation from the Indian leadership to the Seychelles President to visit India in 2021. “Discussed our close security cooperation, strong development partnership and long-standing people-to-people contacts,” Jaishankar said in a tweet after the meeting with Ramkalawan.

“Assured him that Seychelles had a particular priority, both under the Neighbourhood First policy and the SAGAR outlook. Look forward to further strengthening our ties under his leadership,” he said. The minister also recalled Ramkalawan’s visit to India in January 2018 and expressed the confidence that under his leadership, the close ties between the two countries would develop even further, it said.

President Ramkalwan appreciated the assistance provided by India during the pandemic in the form of medical supplies and critical drugs and valued the development and security partnership between the two countries. He also spoke of its positive impact on nation-building in Seychelles. Jaishankar emphasised India’s commitment to support the interests and aspirations of Seychelles and take this cooperation to a higher level. The discussions underscored the need to further expand and deepen bilateral engagement, and to coordinate and cooperate to counter the challenges presented by the COVID-19 pandemic, according to the press release.

They stressed the need to strengthen shared efforts to combat drug trafficking, IUU (Illegal, unreported and unregulated) fishing, piracy and climate change while protecting the ocean ecosystem. They also talked about a wide range of regional issues that impacted on their respective interests. Jaishankar also met Seychelles’ Minister of Foreign Affairs and Tourism Sylvestre Radegonde and discussed various aspects of bilateral relations including development partnership, capacity building, defence cooperation, people to people and cultural ties, trade, tourism and commerce and health, it said.

Jaishankar’s visit assumes significance as India is developing infrastructure in the country to expand its footprint in the strategically-key region in the Indian Ocean where China has been trying to enhance its military presence. Indian-origin President Ramkalawan won the presidential election on October 25 this year, the first such victory for an Opposition candidate since Independence. Born in Mahe, the principal island of Seychelles, Ramkalawan was ordained as a priest in 1985 following theological studies at St Paul’s Theological College in Mauritius, and thereafter at Birmingham University. His grandfather was from Bihar.

Elite Cobra Officer Killed, 9 Commandos Injured In IED Blast Triggered By Naxals In C’garh

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Afternoon Voice

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November 29, 2020

An officer of the CRPF’s jungle warfare unit, CoBRA, was killed while nine commandos were injured after Maoists triggered an IED blast in Chhattisgarh’s Sukma district, security officials said on Sunday.

They said the improvised explosive device blast took place in the Chintalnar forest area of the district around 9 pm and the injured personnel were evacuated by a helicopter around midnight.

Assistant Commandant Nitin Bhalerao succumbed to the injuries suffered in the blast while nine other commandos, including a second-in-command rank officer, were injured and have been admitted to a local hospital here, they said.

The injured troops belong to the 206th battalion of the Commando Battalion for Resolute Action (CoBRA). A joint team of CoBRA and local police was out in the area for a special operation when the blast took place, they said.

Farmers Protest: Tear Gas, Lathi Charge, Defying Barricades And Water Cannon

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Afternoon Voice

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November 27, 2020

Thousands of farmers were tear-gassed at the Haryana-Delhi border today as they tried to march towards Delhi for a massive protest against new farm laws. Groups of farmers, walking with tractors carrying stocks of food and essential supplies, have been trying to enter Delhi from multiple points, defying barricades, many wrapped in barbed wire, and trenches dug up near key roads. After facing tear gas, water cannon in Haryana yesterday, the farmers came up against Delhi policemen firmly blocking their way. Farmers’ organisations behind the protest have written to Prime Minister Narendra Modi demanding negotiations and that the farmers are allowed to reach Delhi. Farmers from six states, Uttar Pradesh, Haryana, Uttarakhand, Rajasthan, Kerala and Punjab, are heading to Delhi and intend to converge at Ram Lila Maidan in the heart of the city for a protest planned for months. The farmers say 500 organisations are part of it. The Sanyukt Kisan Morcha, comprising seven farmers’ organisations, says they have written to the PM asking for negotiations and a site where farmers can assemble.

Government is saying that this bill gave freedom to farmers to sell their products at any place, but my answer is farmers already have freedom they can still sell their crop anywhere but this bill is giving freedom to big corporations to buy from anywhere without any license.

Government is saying the MSP will be continued, but the answer is there is MSP is already on 23 crops, but no crop other than wheat and rice is sold on MSP (for example, MSP on corn crop is 1850 but it is being sold on 700–1100 at present. so if there are no government agencies nobody can assure MSP.
Government is promoting the term ‘open market’ at high level but reality is that, in case of vegetable, onions, orange there is already an open market , for farmers it’s a failed system , the farmers of Punjab and Haryana are quit wealthy because they do not rely on veritable or onions, but cultivate wheat and rice.

You can compare the situation of Bihar’s farmers and Punjab’s ( the only difference is Mandi system, crop of Punjab farmers is procurement by government agencies so farmers get MSP and in other states farmers are exposed to private players.

Kartar Singh Haryana farmer said “Government must adopt Punjab farmer modal in other states to make them wealthy, they must start government procurement on all crops to ensure MSP. They are doing the opposite; they are destroying an already established system of Punjab and Haryana too. At present, any private buyer too can buy crop of any farmers, even more than MSP ( I sold my crops more than MSP to private several times but private merchants have to buy through government registration process only.

Maharashtra farmer, Nivrutti Adarkar said. “Soon we would be joining the farmer’s protest in Delhi; these bills gave an opportunity to private players to buy without any government process and without any fee to the Mandi board. This will lead to distortion of the Government owned Market system, as having no fee; private players will initially buy at high price and attract more farmers. As after some time government agencies will be in loss and they will stop buying, this is an old strategy of the government to show government departments in loss by giving incentives to private, this had happened in case of many governments owned industries.

The farmers are protesting three new laws aimed at bringing reforms by doing away with middlemen and improving farmers’ earnings by allowing them to sell produce anywhere in the country. Farmers and opposition parties allege that the laws will deprive the farmers of guaranteed minimum price for their produce and leave them at the mercy of corporates.

Farmers’ Demands Are Legitimate; Government Should Let Them Protest Peacefully

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Vaidehi Taman

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November 27, 2020

Remember these are the same farmers who grow crops for the whole country. Their sons are put on forefront at borders when it comes to guard India. They have every right to protest peacefully wherever within the country they decide to do so. Even the Indian constitution gives them the right to remonstrate. They have assured the authorities that they won’t harm any person or property. Even if they have to stay for a month, they will. Even if they have attained martyrdom, they will. What they are asking is JUSTICE, they are asking amendments in the bill, is it too much to consider?? Jailing them isn’t the solution to the issue. This protest is non-violent. Non-violent protest is every Indian’s right. To my surprise, Delhi Police had sought the state government’s permission to use the city’s nine stadiums as temporary jails to house protesting farmers. Which government vandalizes their own property to stop some protests from happening? Tell me which government jails peaceful protestors? What is the need for extreme measures to be taken because the government itself knows that what they have done is wrong and in favour of the Ambani- Adani alliances? Government don’t want people outside to know about it. Farmers are at the receiving end and who else knows it better than them? They have the right to be heard not just for them, but for all the people across India. It is the time to show solidarity with the people who are growing wheat and vegetables for every countryman.

No matter how much they would be subjected to brutalisation, farmers are determined to reach Delhi and protest against agricultural bills passed by the Modi government. Punjab needs support from other agricultural based states of India. Gradually and slowly, five states have already joined them. We shall expect more states to come forward and agitate. There is a buzz that even Maharashtra farmers are in talk with their unions and associations about their participation plans in future.

Punjab and Haryana, both the states are primarily agrarian states though Punjab has other economic development resources too. They are not dependent on the corporate economy. The agriculture in these states is prosperous. They are independent farmers. They know that the new law can make them slaves to corporate companies and slowly the lands will be taken over by corporate tricks. Now the present central government is working against the interest of majority people and the new laws are the outcome of a blatant colonial mindset. Farmers in several Indian states are protesting against three new bills the government says will open up the tightly-controlled agriculture sector to free-market forces. The bills, passed by India’s parliament this week, will not make it easier for farmers. Part of Prime Minister Narendra Modi’s agricultural reform policy, the laws will also allow traders to stock food items. Hoarding food items for the purpose of making a profit was a criminal offence in India. Under the Agriculture Produce Marketing Committee (APMC) Act passed in 1964, it was compulsory for farmers to sell their produce at government-regulated markets, or mandis, where middlemen helped growers sell harvests to either the state-run company or private players. The government says the monopoly of APMC mandis will end but they will not be shut down, and that the Minimum Support Price (MSP) – the price at which the government buys farm produce – will not be scrapped. State governments, which earn an income through transactions at mandis, stand to lose out on tax revenues as trade moves out of state or into the domain of private deals.

Modi, who won elections on a promise of doubling farm income, has been under pressure to bring private investments to an agriculture sector that has stagnated badly. For decades, farmers found themselves driven deeper into debt by crop failures and the inability to secure competitive prices for their produce. Finding them unable to cope, many have resorted to taking their own lives. The agriculture sector contributes nearly 15 percent of India’s $2.9 trillion economy but employs about half of the country’s 1.3 billion people.

In the new bill, government removed the intra state trade barriers but what u think in a country where the average land holding of 86% percent farmer is less than two hectare can the farmer from Assam sell his produce in Kerala it is impractical due or transportation costs its second flaw will be the state govt will not give enough attention to its farmer such as Bihar govt can let their farmers let on the prices being given in Haryana. Farmers would be caught in a vicious trap where they will be left helpless. This is what has created anger in farmers, they do not accept the three new legislations — The Farmers’ Produce Trade and Commerce (Promotion and Facilitation); The Farmers (Empowerment and Protection) Agreement of Price Assurance; and Farm Services and The Essential Commodities (Amendment). They believe the laws will open agricultural sale and marketing outside the notified Agricultural Produce Market Committee (APMC) mandis for farmers, remove the Since the state governments will not be able to collect market fee, cess or levy for trade outside the APMC markets, farmers believe the laws will gradually end the mandi system and leave farmers at the mercy of corporates. Farmers believe that dismantling the mandi system will bring an end to the assured procurement of their crops at MSP. Similarly, farmers believe the price assurance legislation may offer protection to farmers against price exploitation, but will not prescribe the mechanism for price fixation. Farmers are demanding the government guarantee MSP in writing, or else the free hand given to private corporate houses will lead to their exploitation.

The commission agents and farmers enjoy a friendship and bonding that goes back decades. On an average, at least 50-100 farmers are attached with each arhtiya, who takes care of farmers’ financial loans and ensures timely procurement and adequate prices for their crop. Farmers believe the new laws will end their relationship with these agents and corporates will not be as sympathetic towards them in times of need. Prime Minister Narendra Modi’s government has defended the bills as a way to rid the vast agriculture sector of antiquated procurement procedures and to allow farmers to sell to institutional buyers and big international retailers. But farmers disagree. They say the laws could cause the government to stop buying grain at guaranteed prices and result in their being exploited by corporations that would buy their crops at cheap prices. For the last two months, farmer unions unwilling to accept the laws have camped on highways in Punjab and Haryana states. They have been supported by opposition parties and some Modi allies, too, have called the laws anti-farmer and pro-corporation.

Train the youth as per the demand of employment: CM Thackeray

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Afternoon Voice

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November 26, 2020

Many young citizens have lost their jobs in Corona’s background. Against this backdrop, new employment opportunities have been created by the Department of Skill Development, Employment, and Entrepreneurship; the Chief Minister Uddhav Thackeray directed them to prepare an action plan to train the youth as per the new demand. Thackeray was speaking at the presentation of the Skill Development, Employment and Entrepreneurship Department at Varsha Niwas on Thursday. Thackeray said that it is a good thing that the department has provided one lakh and forty-eight thousand jobs even during the lockdown, but the department should work to prepare the trainees according to the new conditions created after the lockdown. A detailed action plan for this should be prepared soon. Also, the job training scheme should be implemented. New state-of-the-art training centres should be started in Industrial Training Institutes (ITIs). Consideration should be given to creating a Skills University he further stated in his speech.

The geographical structure of each district should start employment training centres according to the local conditions. The Chief Minister also directed to plan for the training of new employment opportunities in the districts adjacent to the Samrudhi Highway. On this occasion, Skill Development, Employment and Entrepreneurship Commissioner Dipendrasinh Kushwaha presented the future plans to be implemented by the Commissionerate.

Vipin Gaur, a media person said, “Government comes up with plans but the execution is a real challenge. Just planning is not going to solve the problems; the government needs to be quick in providing work to unemployed youth.”

Nikunj Bavishi, Chartered accountant based out of Mumbai said, “Job losses are not the sole problem, finding people with the right skills for a job is a huge challenge. Job losses are certainly a significant cause for unemployment in India as much as anywhere else in the world. But, it is not fair to blame all instances of unemployment on job losses caused mostly by changes in the economy and the closure of businesses. India has also been suffering from slow creation of jobs, particularly in manufacturing where capital and machines are preferred over humans for greater efficiencies and higher productivity.”

Vikas Kumar Gunjan said, “There are hardly any new openings now, moreover salary cuts are a big issue. Many of the problems at the mid-and senior manager levels can be easily addressed with continuous learning programmes where employers assume an active role in encouraging its people to participate. The challenge lies in equipping people at the entry-level with the right skills. While personal and workplace hygiene can be enforced with certain strict dos and don’ts, addressing illiteracy and language skills among young adults require institutional intervention.”

‘One Nation, One Election’ Is The Need Of India, Says PM Narendra Modi

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Afternoon Voice

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November 26, 2020

Prime Minister Narendra Modi pitched for ‘One Nation, One Election’, saying it is the need of India as polls taking place every few months impact development works. Addressing the concluding session of the 80th All India Presiding Officers Conference via video conference on Thursday, Modi also paid homage to the victims of the 26/11 Mumbai attacks and asserted that India is fighting terrorism now with the new policy and new process.

Noting that it was the biggest terror strike on India, Modi said India can never forget the 26/11 Mumbai terror attacks. On November 26, 2008, ten Lashkar-e-Taiba terrorists from Pakistan arrived through the sea and opened fire, killing 166 people, including 18 security personnel, and injuring many during the 60-hour siege in Mumbai.

Pitching strongly for ‘One Nation, One Election’, Modi said it is not just a matter of debate, this is the need of India. “Elections are held at different places every few months, the impact it has on development works is known to all. Therefore, it is a must to have deep study and deliberation on ‘One Nation, One Election’,” Modi said. The prime minister also suggested a single voters’ list for Lok Sabha, assembly, and panchayat polls, saying separate lists are a waste of resources.

Legislature, Executive and Judiciary should work with better coordination and national interest should be the basis for every decision, Modi said. “We must remember that when politics take over people and nation-first policies, the nation has to pay adversely in such situations,” he said.

He also cited the example of delay in the completion of the Sardar Sarovar Dam, saying it kept lingering and was completed after years. “This could have happened earlier if development was given precedence. Those who stalled it, have no repentance,” he said in a clear attack on the Congress.

Addressing the All India Presiding Officers Conference. https://t.co/vwPvZRWMff

— Narendra Modi (@narendramodi) November 26, 2020

Underlining that there is no place for politics of untouchability, Modi cited the example of the Statue of Unity built by his government for Sardar Vallabhbhai Patel despite him not being from the BJP or the Jana Sangh. The constitution is our guiding light to take on challenges in the 21st century and national interest should be our basis for every decision, Modi said He called for raising awareness about the Constitution.

“Our Constitution has many features but one very special feature is the importance given to duties. Mahatma Gandhi was very keen on this. He saw a close link between rights and duties. He felt that once we perform our duties, rights will automatically be safeguarded,” Modi said. He also referred to the practice of KYC (know your customer) in the corporate world and said there should be a similar KYC drive in the form of Know Your Constitution to popularise the Constitution and its different features.

The All India Presiding Officers Conference began in 1921, and the Gujarat event marks its centenary year. The theme for this year’s conference is ‘Harmonious Coordination between Legislature, Executive and Judiciary- Key to a Vibrant Democracy’.

Centre Approves Amalgamation Of Lakshmi Vilas Bank With DBS Bank India

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Afternoon Voice

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November 25, 2020

The Union Cabinet on Wednesday approved the merger of crisis-ridden Lakshmi Vilas Bank (LVB) with DBS Bank India Ltd (DBIL) and removed restrictions on withdrawal of deposits by depositors.

The Cabinet has approved the merger of the LVB with DBS Bank India Limited, Union Minister Prakash Javadekar told reporters, adding the decision will provide comfort to 20 lakh depositors and protect the services of 4,000 employees.

“Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank with DBS Bank India Limited; with this, there will no further restriction on the depositors regarding the withdrawal of their deposits,” the official spokesperson said in a tweet. The minister said that those responsible for the deteriorating financial health of the LVB would be penalised.

The government had earlier on November 17 on the advice of the RBI imposed a 30-day moratorium on the crisis-ridden LVB restricting cash withdrawal at Rs 25,000 per depositor. The RBI simultaneously placed in the public domain a draft scheme of amalgamation of LVB with DBIL, a banking company incorporated in India under Companies Act, 2013, and having its Registered Office at New Delhi.

The Reserve Bank had also superseded the board of the LVB and appointed T N Manoharan, former non-executive chairman of Canara Bank, as administrator of the bank for 30 days. LVB is the second private sector bank after Yes Bank which has run into rough weather during this year.

In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking state-run State Bank of India to infuse Rs 7,250 crore and take a 45 per cent stake in the bank.