General Affairs
PM Modi to Visit Ireland on September 23, First by an Indian PM in 60 Years
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NEW DELHI: Prime Minister Narendra Modi today said he will head to Ireland this week en route to the United States, becoming the first Indian leader to visit Dublin in almost 60 years.
PM Modi will hold talks with his Irish counterpart Enda Kenny on Wednesday before meeting members of the thousands-strong Indian community in Ireland during the one-day visit.
"We hope to further develop strong people-to-people and economic ties with Ireland in the years to come," PM Modi said in a post on Facebook.
PM Modi will be the first prime minister since Jawaharlal Nehru in 1956 to visit the country.
He heads to the UN General Assembly in New York and will address a sustainable development forum before travelling to Silicon Valley seeking to promote his country as open for business.
PM Modi will meet Facebook chief Mark Zuckerberg and other Internet leaders as he pushes for investment in India's IT sector, after coming to power in May 2014 pledging to revive India's flagging economy.
"This visit seeks to build on the substantial ground covered during my last visit to USA and President Obama's visit to India early this year," he said in the post.
NEW DELHI: Prime Minister Narendra Modi today said he will head to Ireland this week en route to the United States, becoming the first Indian leader to visit Dublin in almost 60 years.PM Modi will hold talks with his Irish counterpart Enda Kenny on Wednesday before meeting members of the thousands-strong Indian community in Ireland during the one-day visit.
PM Modi will be the first prime minister since Jawaharlal Nehru in 1956 to visit the country.
He heads to the UN General Assembly in New York and will address a sustainable development forum before travelling to Silicon Valley seeking to promote his country as open for business.
PM Modi will meet Facebook chief Mark Zuckerberg and other Internet leaders as he pushes for investment in India's IT sector, after coming to power in May 2014 pledging to revive India's flagging economy.
"This visit seeks to build on the substantial ground covered during my last visit to USA and President Obama's visit to India early this year," he said in the post.
Bihar Elections: Denied Ticket, LJP Leaders to Campaign Against Party
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PATNA: Trouble is brewing in Union Minister Ram Vilas Paswan's Lok Janshakti Party(LJP). Sidelined in the Bihar elections, two LJP leaders said there was "no internal democracy" in the party and vowed to campaign against it.
Another LJP leader also alleged that Mr Paswan was demanding Rs 50 lakh to give ticket to contest the assembly polls.
Rama Kishore Singh, the LJP's Lok Sabha member from Vaishali, today declared that he will campaign against party candidates to ensure their defeat.
"The LJP will be defeated in all 40 constituencies it is contesting," he said.
Mr Singh said there was no internal democracy in the party and he would campaign against LJP candidates to help its rivals.
Mr Paswan's son-in-law Anil Kumar Sadhu, who was denied nomination to contest the assembly polls and was suspended from the party for six years, today announced he would also work to defeat the LJP candidates.
Mr Sadhu, who was state president of the Dalit Sena, blamed Mr Paswan's son and Lok Sabha member Chirag Paswan for his (Sadhu's) plight.
"I was betrayed by my father-in-law. He ignored my genuine claim to contest the polls," Mr Sadhu said.
LJP leader Ram Naresh Singh accused party chief Mr Paswan of demanding Rs 50 lakh to let him contest the elections.
"All the decisions were taken by two-three leaders including Paswan, his son Chirag and his brothers. There is no internal democracy in the LJP," Mr Ram Naresh Singh told the media in Patna.
He warned that ignoring "senior and experienced leaders" like him would cost the LJP in the assembly polls.
The LJP is contesting 40 of the 243 assembly seats.
Bihar will have five-phase elections between October 12 and November 5. Counting of votes will take place on November 8.
PATNA: Trouble is brewing in Union Minister Ram Vilas Paswan's Lok Janshakti Party(LJP). Sidelined in the Bihar elections, two LJP leaders said there was "no internal democracy" in the party and vowed to campaign against it.Another LJP leader also alleged that Mr Paswan was demanding Rs 50 lakh to give ticket to contest the assembly polls.
"The LJP will be defeated in all 40 constituencies it is contesting," he said.
Mr Singh said there was no internal democracy in the party and he would campaign against LJP candidates to help its rivals.
Mr Paswan's son-in-law Anil Kumar Sadhu, who was denied nomination to contest the assembly polls and was suspended from the party for six years, today announced he would also work to defeat the LJP candidates.
Mr Sadhu, who was state president of the Dalit Sena, blamed Mr Paswan's son and Lok Sabha member Chirag Paswan for his (Sadhu's) plight.
"I was betrayed by my father-in-law. He ignored my genuine claim to contest the polls," Mr Sadhu said.
LJP leader Ram Naresh Singh accused party chief Mr Paswan of demanding Rs 50 lakh to let him contest the elections.
"All the decisions were taken by two-three leaders including Paswan, his son Chirag and his brothers. There is no internal democracy in the LJP," Mr Ram Naresh Singh told the media in Patna.
He warned that ignoring "senior and experienced leaders" like him would cost the LJP in the assembly polls.
The LJP is contesting 40 of the 243 assembly seats.
Bihar will have five-phase elections between October 12 and November 5. Counting of votes will take place on November 8.
Police Identify Prime Accused in Govind Pansare's Murder, Manhunt Begins
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Mumbai: A manhunt has started for Rudra Patil, who, police sources say, is the prime accused in the murder of rationalist Govind Pansare that took place in February.
Mr Pansare, a Left leader, and his wife had been out on a morning walk on when they were shot at near their home in Kolhapur by men on a bike. Mr Pansare died four days later, after being flown to Mumbai for treatment.
Mr Patil, sources said, is a member of the right-wing organisation Sanatan Sanstha, and is from Karnataka.
He has been declared absconder by National Investigation Agency since the 2009 Goa blasts. Eleven members of the group had been chargesheeted in that case.
Karnataka police are searching for Rudra Patil, who, officers say, has a base in Belgaum.
Maharashtra Chief Minister Devendra Fadnavis has been briefed about the case.
The breakthrough in the case came last week when the police detained a man in Sangli. The man was Sameer Gaikwad, 32, an activist of right-wing group Sanatan Sanstha, who ran a mobile repair shop.
A day later, four more people were detained over the murder -- a woman in Mumbai, a man in Pune and two more men in Goa.
Sources said the phone records that led the Criminal Investigation Department -- which is probing the case -- to Sameer Gaikwad were of Rudra Patil and other suspects who absconded after the blasts in Goa.
Sources in the Sanatan Sanstha have said Rudra Patil has not been in touch with them, and had been in touch with his wife only once.
Mumbai: A manhunt has started for Rudra Patil, who, police sources say, is the prime accused in the murder of rationalist Govind Pansare that took place in February.Mr Pansare, a Left leader, and his wife had been out on a morning walk on when they were shot at near their home in Kolhapur by men on a bike. Mr Pansare died four days later, after being flown to Mumbai for treatment.
Mr Patil, sources said, is a member of the right-wing organisation Sanatan Sanstha, and is from Karnataka.
Karnataka police are searching for Rudra Patil, who, officers say, has a base in Belgaum.
Maharashtra Chief Minister Devendra Fadnavis has been briefed about the case.
The breakthrough in the case came last week when the police detained a man in Sangli. The man was Sameer Gaikwad, 32, an activist of right-wing group Sanatan Sanstha, who ran a mobile repair shop.
A day later, four more people were detained over the murder -- a woman in Mumbai, a man in Pune and two more men in Goa.
Sources said the phone records that led the Criminal Investigation Department -- which is probing the case -- to Sameer Gaikwad were of Rudra Patil and other suspects who absconded after the blasts in Goa.
Sources in the Sanatan Sanstha have said Rudra Patil has not been in touch with them, and had been in touch with his wife only once.
Arvind Kejriwal Refuses to Let North Delhi's Mayor Enter His House
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New Delhi: Delhi Chief Minister Arvind Kejriwal refused to let North Delhi's mayor enter his house when he arrived there with a team of mosquito-breeding checkers, as part of the dengue-prevention drive, an NDMC statement said today.
Moreover, larvae were found in Mr Kejriwal's neighbourhood for which legal notice was issued.
According to North Delhi Municipal Corporation (NDMC), North Delhi's Mayor Ravinder Gupta visited the Chief Minister's residence in Civil Lines, which falls within the jurisdiction of NDMC, for dengue-prevention drive but Mr Kejriwal refused to see him and did not allow him to enter his house.
It was followed by dengue-prevention check at his next door neighbour's residence, where larvae were found and for that legal notice was issued to that property, an NDMC statement said.
"We are appealing to the citizens to allow access to domestic breeding checkers as it is in their interest but if Chief Minister is not allowing the mayor who came along with the prevention team for the drive, then what can be expected from others," Mr Gupta said.
"It was thought to make an appeal to him to join the drive against dengue but when he did not allow even the mayor what would be his behaviour with common man," he added.
The mayor also launched the drive from Pusa Agricultural Research Institute. It was part of the measure to restrict the number of dengue patients in the national capital through large-scale preventive measures.
New Delhi: Delhi Chief Minister Arvind Kejriwal refused to let North Delhi's mayor enter his house when he arrived there with a team of mosquito-breeding checkers, as part of the dengue-prevention drive, an NDMC statement said today.Moreover, larvae were found in Mr Kejriwal's neighbourhood for which legal notice was issued.
According to North Delhi Municipal Corporation (NDMC), North Delhi's Mayor Ravinder Gupta visited the Chief Minister's residence in Civil Lines, which falls within the jurisdiction of NDMC, for dengue-prevention drive but Mr Kejriwal refused to see him and did not allow him to enter his house.
It was followed by dengue-prevention check at his next door neighbour's residence, where larvae were found and for that legal notice was issued to that property, an NDMC statement said.
"We are appealing to the citizens to allow access to domestic breeding checkers as it is in their interest but if Chief Minister is not allowing the mayor who came along with the prevention team for the drive, then what can be expected from others," Mr Gupta said.
"It was thought to make an appeal to him to join the drive against dengue but when he did not allow even the mayor what would be his behaviour with common man," he added.
The mayor also launched the drive from Pusa Agricultural Research Institute. It was part of the measure to restrict the number of dengue patients in the national capital through large-scale preventive measures.
Is Bengal Government Withholding Some More Netaji Files, Ask Researchers
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KOLKATA: The West Bengal government has declassified 64 secret files it had on Netaji Subhas Chandra Bose but researchers claim that some more might have been "withheld" and have not come out.
The Mamata Banerjee government on Friday put in public domain 64 files on Netaji that were with the state home department. However, researcher and author Anuj Dhar claims the existence of more such files with the Chief Minister's Office (CMO).
Mr Dhar, who was the first to reveal the existence of 64 files that were sent by the Bengal government to the Justice MK Mukherjee Commission of Inquiry probing Netaji's disappearance, says his efforts to seek information about Netaji files with the CMO were stonewalled.
"The 64 files that have been declassified were with the state home department and were sent for the Mukherjee Commission to examine. But there are at least six more files containing crucial information with the CMO," Mr Dhar, the author of "India's Biggest Cover-Up", told IANS.
His efforts to seek information through RTI about the number of classified files on Netaji in possession of the state government including the CMO did not yield any result.
"The CMO clearly sidestepped my application. I got only a half reply to my RTI query stating that the CMO did not have any file on Netaji disappearance. Incidentally, my query was about all classified files on Netaji and not particularly about his disappearance," said Mr Dhar.
Another researcher Jayanta Chowdhury, who deposed before the Mukherjee Commission, claimed that the 64 files declassified on Friday do not contain at least 12 files that were examined by the commission which in 2006 had concluded that Netaji did not die in the alleged air crash in 1945 in Taiwan.
"Tallying the list of files given by the Mukherjee Commission with that with the declassified files, I have found several anomalies. It appears that that at least 12 files that were examined by the Commission are not among the 64 files that have been declassified," Mr Chowdhury told IANS, adding the "missing" files dealt with intelligence gathering on Netaji and other INA personalities.
"There are several files and documents that are not only missing but some of the documents that have been declassified do not find a mention in the Mukherjee Commission list."
Among the documents that were not sent to the commission includes a file on Netaji's nephew Sisir Kumar Bose containing details of intercepted letters, while Mr Chowdhury also noted the "mysterious disappearance" of a letter by Mr Sisir Kumar Bose written to Netaji's wife Emilie Schenkl posted on June 16, 1953 and intercepted July 2, 1953.
"There is a note giving details about the interception of the letter that a copy was kept and its contents forwarded to various intelligence officers but the letter itself is missing from the files," said Mr Chowdhury.
Though he did not rule possibility of some documents still remaining classified, Netaji's grandnephew Mr Chandra Kumar Bose said the Banerjee government has no reason to withhold any files.
"We have no reasons to doubt the chief minister's claims that all files in possession of her government have been declassified. But the possibility of files being either destroyed or taken away by the centre cannot be ruled out," Mr Bose told IANS, noting the UPA had rejected the Mukherjee Commission findings and there was possibility of the Congress playing "dirty tricks".
Another researcher and Mukherjee Commission deponent Purabi Roy too did not rule out the possibility of files being withheld.
"But, whether they are now lying with the Centre, or they are with the existing state government, that only the authorities know," the researcher told IANS.
The researchers, though concurred that the answers to all these questions can be answered if and when the Narendra Modi government declassifies nearly 130 secret files on Netaji said to be in possession of various departments.
The Prime Minister today said he will be meeting 50 Bose family members and researchers in October.
The Bose family members would also seek Modi's intervention in getting Russian and British governments for declassifying similar files said to be in the possession of their respective spy agencies.
KOLKATA: The West Bengal government has declassified 64 secret files it had on Netaji Subhas Chandra Bose but researchers claim that some more might have been "withheld" and have not come out.The Mamata Banerjee government on Friday put in public domain 64 files on Netaji that were with the state home department. However, researcher and author Anuj Dhar claims the existence of more such files with the Chief Minister's Office (CMO).
"The 64 files that have been declassified were with the state home department and were sent for the Mukherjee Commission to examine. But there are at least six more files containing crucial information with the CMO," Mr Dhar, the author of "India's Biggest Cover-Up", told IANS.
His efforts to seek information through RTI about the number of classified files on Netaji in possession of the state government including the CMO did not yield any result.
"The CMO clearly sidestepped my application. I got only a half reply to my RTI query stating that the CMO did not have any file on Netaji disappearance. Incidentally, my query was about all classified files on Netaji and not particularly about his disappearance," said Mr Dhar.
Another researcher Jayanta Chowdhury, who deposed before the Mukherjee Commission, claimed that the 64 files declassified on Friday do not contain at least 12 files that were examined by the commission which in 2006 had concluded that Netaji did not die in the alleged air crash in 1945 in Taiwan.
"Tallying the list of files given by the Mukherjee Commission with that with the declassified files, I have found several anomalies. It appears that that at least 12 files that were examined by the Commission are not among the 64 files that have been declassified," Mr Chowdhury told IANS, adding the "missing" files dealt with intelligence gathering on Netaji and other INA personalities.
"There are several files and documents that are not only missing but some of the documents that have been declassified do not find a mention in the Mukherjee Commission list."
Among the documents that were not sent to the commission includes a file on Netaji's nephew Sisir Kumar Bose containing details of intercepted letters, while Mr Chowdhury also noted the "mysterious disappearance" of a letter by Mr Sisir Kumar Bose written to Netaji's wife Emilie Schenkl posted on June 16, 1953 and intercepted July 2, 1953.
"There is a note giving details about the interception of the letter that a copy was kept and its contents forwarded to various intelligence officers but the letter itself is missing from the files," said Mr Chowdhury.
Though he did not rule possibility of some documents still remaining classified, Netaji's grandnephew Mr Chandra Kumar Bose said the Banerjee government has no reason to withhold any files.
"We have no reasons to doubt the chief minister's claims that all files in possession of her government have been declassified. But the possibility of files being either destroyed or taken away by the centre cannot be ruled out," Mr Bose told IANS, noting the UPA had rejected the Mukherjee Commission findings and there was possibility of the Congress playing "dirty tricks".
Another researcher and Mukherjee Commission deponent Purabi Roy too did not rule out the possibility of files being withheld.
"But, whether they are now lying with the Centre, or they are with the existing state government, that only the authorities know," the researcher told IANS.
The researchers, though concurred that the answers to all these questions can be answered if and when the Narendra Modi government declassifies nearly 130 secret files on Netaji said to be in possession of various departments.
The Prime Minister today said he will be meeting 50 Bose family members and researchers in October.
The Bose family members would also seek Modi's intervention in getting Russian and British governments for declassifying similar files said to be in the possession of their respective spy agencies.
Business Affairs
Govt mulls raising FDI cap to 100% in DTH, cable networks
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Government is considering a proposal to raise FDI limits to 100 per cent in broadcasting carriage and content services, including DTH and cable networks, aimed at attracting overseas investment and improve infrastructure.
An inter-ministerial committee is considering FDI proposals, including hiking foreign direct investment cap in cable networks, direct-to-home (DTH), Mobile TV, HITS (Headend-in-the Sky Broadcasting Service) and Teleports to 100 per cent, from 74 per cent at present, sources said.
In case of broadcasting content services - uplinking of news and current affairs TV channels, the proposal under discussion is to raise the limit to 49 per cent from the present 26 per cent, they said.
These proposals were mooted by the Telecom Regulatory Authority of India (Trai) in 2013. It had suggested raising FDI limit for broadcast carriage services up to 100 per cent and for uplinking of news channels up to 49 per cent.
Increase in FDI limit will help improve the pace of digitisation of broadcasting services across India.
The inter-ministerial committee comprises officials from the Department of Industrial Policy and Promotion, Information and Broadcasting, Telecommunication and Space.
"The committee is discussing all these recommendations," sources said, adding the panel discussed all these issues its meeting held last month.
In broadcasting content services, 26 per cent foreign direct investment is permitted through government approval route.
Companies which are involved in the business of broadcasting carriage services include Dish TV, Siti Cables, Hathway services and Den Networks.
In March, cable television services firm Den Networks had approved increasing limit of foreign investment in the company from existing 49 per cent to 74 per cent. Similarly in August, Hathway Cable had received FIPB approval to increase foreign investment limit in the firm from the existing 49 per cent to 74 per cent.
To attract foreign funds, the government has already relaxed FDI norms in sectors such as defence, construction and railways. It is also considering relaxing norms for rubber and coffee sector.
Government is considering a proposal to raise FDI limits to 100 per cent in broadcasting carriage and content services, including DTH and cable networks, aimed at attracting overseas investment and improve infrastructure.
An inter-ministerial committee is considering FDI proposals, including hiking foreign direct investment cap in cable networks, direct-to-home (DTH), Mobile TV, HITS (Headend-in-the Sky Broadcasting Service) and Teleports to 100 per cent, from 74 per cent at present, sources said.
In case of broadcasting content services - uplinking of news and current affairs TV channels, the proposal under discussion is to raise the limit to 49 per cent from the present 26 per cent, they said.
These proposals were mooted by the Telecom Regulatory Authority of India (Trai) in 2013. It had suggested raising FDI limit for broadcast carriage services up to 100 per cent and for uplinking of news channels up to 49 per cent.
Increase in FDI limit will help improve the pace of digitisation of broadcasting services across India.
The inter-ministerial committee comprises officials from the Department of Industrial Policy and Promotion, Information and Broadcasting, Telecommunication and Space.
"The committee is discussing all these recommendations," sources said, adding the panel discussed all these issues its meeting held last month.
In broadcasting content services, 26 per cent foreign direct investment is permitted through government approval route.
Companies which are involved in the business of broadcasting carriage services include Dish TV, Siti Cables, Hathway services and Den Networks.
In March, cable television services firm Den Networks had approved increasing limit of foreign investment in the company from existing 49 per cent to 74 per cent. Similarly in August, Hathway Cable had received FIPB approval to increase foreign investment limit in the firm from the existing 49 per cent to 74 per cent.
To attract foreign funds, the government has already relaxed FDI norms in sectors such as defence, construction and railways. It is also considering relaxing norms for rubber and coffee sector.
PM Narendra Modi addresses nation in "Mann ki Baat": Key highlights
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Prime Minister Narendra Modi, in the 12th episode of "Mann ki Baat" on Sunday shared his thoughts on a number of issues. Below are the key highlights of the 30-minute radio programme:
- Prime Minister Narendra Modi urged the people to use khadi products. "Buy Khadi and handloom during festivals. I am not saying use only Khadi but give it some place in your lives", PM Modi said.
- He also said he would be receiving family members of Subhash Chandra Bose next month but avoided any reference to declassification of secret files related to him which is being demanded by various sections after West Bengal government did so.
- To a suggestion on greater enrolment of youth as voters, the Prime Minister emphasised that it was essential for everybody to register as voters.
- The prime minister also pitched for raising the voting percentage by exhorting more and more people to exercise their franchise. He patted the Election Commission for making efforts to create awareness among the voters about their rights.
- He also hailed radio, saying it is a great medium for communication which he had been using over the last one year to reach out to people through 'Mann Ki Baat' (straight from the heart), which he said had become 'Aap Ki Baat (your talk)'.
- PM Modi said he considers it good talking about cleanliness in the Parliament."Parliament talks about cleanliness now, I am also criticised for it but I do not consider this to be a bad thing", he said.
- The prime minister also urged the people to spend time at the 'Shauryanjali' exhibition set up by the Army as part of the golden jubilee commemoration of the 1965 India-Pakistan war.
The 'Mann Ki Baat' programme was started last year on Gandhi Jayanti.
Prime Minister Narendra Modi, in the 12th episode of "Mann ki Baat" on Sunday shared his thoughts on a number of issues. Below are the key highlights of the 30-minute radio programme:- Prime Minister Narendra Modi urged the people to use khadi products. "Buy Khadi and handloom during festivals. I am not saying use only Khadi but give it some place in your lives", PM Modi said.
- He also said he would be receiving family members of Subhash Chandra Bose next month but avoided any reference to declassification of secret files related to him which is being demanded by various sections after West Bengal government did so.
- To a suggestion on greater enrolment of youth as voters, the Prime Minister emphasised that it was essential for everybody to register as voters.
- The prime minister also pitched for raising the voting percentage by exhorting more and more people to exercise their franchise. He patted the Election Commission for making efforts to create awareness among the voters about their rights.
- He also hailed radio, saying it is a great medium for communication which he had been using over the last one year to reach out to people through 'Mann Ki Baat' (straight from the heart), which he said had become 'Aap Ki Baat (your talk)'.
- PM Modi said he considers it good talking about cleanliness in the Parliament."Parliament talks about cleanliness now, I am also criticised for it but I do not consider this to be a bad thing", he said.
- The prime minister also urged the people to spend time at the 'Shauryanjali' exhibition set up by the Army as part of the golden jubilee commemoration of the 1965 India-Pakistan war.
The 'Mann Ki Baat' programme was started last year on Gandhi Jayanti.
States cannot expect PSU banks to fund debt-ridden discoms, says FM Arun Jaitley
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In a stern message to states, Finance Minister Arun Jaitley on Sunday said states cannot expect public sector banks (PSUs) to fund the deficits faced by power distribution companies due to levy of inadequate tariffs.
Expressing concern over the financial health of some state-owned power distribution companies (discoms), the Finance Minister said some states are not levying adequate electricity tariff. His remarks came against the backdrop of many discoms facing financial stress, which has also resulted in rising non-performing assets in the banking sector.
"... some states were not charging adequate money for power, which was affecting the discoms, and these states cannot expect the PSU banks to fund the deficit of discoms," Jaitley said while addressing investors and business leaders in Hong Kong.
The combined debt of discoms is estimated to be more than Rs 3 lakh crore leading to acute financial stress, with many of them not even able to purchase electricity.
The gross non performing assets (NPAs) of state-owned banks at the end of March quarter stood at 5.20 per cent of their total loan portfolio.
NPAs have surged mainly due to stress in infrastructure sectors like highways, steel, power and state discoms.
Recently, Power Minister Piyush Goyal had said the Centre cannot be considered as a bailout bank for helping debt-ridden discoms and states would have to find a way out of the crisis.
"Some states have serious crisis (power) looming large.
But at the end of the day, the government of India can only facilitate the turnaround of these discoms. And we cannot finance it," Goyal had said.
In a stern message to states, Finance Minister Arun Jaitley on Sunday said states cannot expect public sector banks (PSUs) to fund the deficits faced by power distribution companies due to levy of inadequate tariffs.
Expressing concern over the financial health of some state-owned power distribution companies (discoms), the Finance Minister said some states are not levying adequate electricity tariff. His remarks came against the backdrop of many discoms facing financial stress, which has also resulted in rising non-performing assets in the banking sector.
"... some states were not charging adequate money for power, which was affecting the discoms, and these states cannot expect the PSU banks to fund the deficit of discoms," Jaitley said while addressing investors and business leaders in Hong Kong.
The combined debt of discoms is estimated to be more than Rs 3 lakh crore leading to acute financial stress, with many of them not even able to purchase electricity.
The gross non performing assets (NPAs) of state-owned banks at the end of March quarter stood at 5.20 per cent of their total loan portfolio.
NPAs have surged mainly due to stress in infrastructure sectors like highways, steel, power and state discoms.
Recently, Power Minister Piyush Goyal had said the Centre cannot be considered as a bailout bank for helping debt-ridden discoms and states would have to find a way out of the crisis.
"Some states have serious crisis (power) looming large.
But at the end of the day, the government of India can only facilitate the turnaround of these discoms. And we cannot finance it," Goyal had said.
British Telecom to close its call centres in India
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Telecom giant British Telecom has announced plans to shut down its call centres in India to bring them back to Britain following complaints of poor customer service.
The UK's flagship telecom giant, which has used call centres in Delhi and Bangalore, has said that more than 80 per cent of calls will be answered in the UK by the end of 2016, and that it will go further in years to come. "Our customers have told us that they would prefer to speak to a contact centre in the UK when they call us," explained John Petter, chief executive of BT Consumer.
"When we launched BT Mobile earlier this year we located customer service in the UK and our customers have valued that. We think doing this for our other products is one way in which we can boost the service that we offer customers", he said.
"Our offshore partners have provided a good level of service, however, we believe that now is the right time to commit more investment to the UK and that this is something customers will appreciate," he said.
Since 2003, the firm, which has more than 10 million customers in the UK, has used call centres in Bangalore and Delhi to supplement its UK operations, according to the 'Guardian'. Currently half of BT's customer calls are dealt with at centres in the UK.
The firm will continue to outsource back-office work and functions that do not involve frontline work of taking customers' calls offshore and those jobs will most likely stay in India.
BT said it has already created more than 1,000 new UK jobs to meet this commitment, and plans to create "hundreds of other customer call centre positions in the UK over the next year".
The company has 20 contact centres in the UK from Wales and Cornwall to the Midlands and Scotland.
Telecom customers have long complained of poor customer service with staff unable to sort out basic problems.
BT has said it has also invested in new systems to assist its advisers and improve customer services.
Last week the consumer group Which? reported that not being able to ring a call centre based in the UK was the nation s biggest customer service bugbear.
Nearly half of those surveyed by the organisation said they were irritated by call centres not being based in the UK.
Telecom giant British Telecom has announced plans to shut down its call centres in India to bring them back to Britain following complaints of poor customer service.
The UK's flagship telecom giant, which has used call centres in Delhi and Bangalore, has said that more than 80 per cent of calls will be answered in the UK by the end of 2016, and that it will go further in years to come. "Our customers have told us that they would prefer to speak to a contact centre in the UK when they call us," explained John Petter, chief executive of BT Consumer.
"When we launched BT Mobile earlier this year we located customer service in the UK and our customers have valued that. We think doing this for our other products is one way in which we can boost the service that we offer customers", he said.
"Our offshore partners have provided a good level of service, however, we believe that now is the right time to commit more investment to the UK and that this is something customers will appreciate," he said.
Since 2003, the firm, which has more than 10 million customers in the UK, has used call centres in Bangalore and Delhi to supplement its UK operations, according to the 'Guardian'. Currently half of BT's customer calls are dealt with at centres in the UK.
The firm will continue to outsource back-office work and functions that do not involve frontline work of taking customers' calls offshore and those jobs will most likely stay in India.
BT said it has already created more than 1,000 new UK jobs to meet this commitment, and plans to create "hundreds of other customer call centre positions in the UK over the next year".
The company has 20 contact centres in the UK from Wales and Cornwall to the Midlands and Scotland.
Telecom customers have long complained of poor customer service with staff unable to sort out basic problems.
BT has said it has also invested in new systems to assist its advisers and improve customer services.
Last week the consumer group Which? reported that not being able to ring a call centre based in the UK was the nation s biggest customer service bugbear.
Nearly half of those surveyed by the organisation said they were irritated by call centres not being based in the UK.
Stanchart revises FY16 CAD forecast to 1.5 per cent of GDP
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Lower commodity prices are unlikely to narrow India's current account deficit, Standard Chartered has said, while revising its CAD forecast for the fiscal to 1.5 per cent from 1.1 per cent of GDP earlier.
According to the global financial services major, the positive impact of lower commodity prices are likely to be offset by a slowing export volumes due to weak global demand and the continued gradual recovery in the economy.
"We revise our FY16 CAD forecast to 1.5 per cent of GDP from 1.1 per cent, despite lower commodity prices," Standard Chartered said in a research note adding that "weaker external demand and risk appetite to weigh on trade deficit, capital flows".
For the first quarter ended June 30, CAD narrowed to 1.2 per cent of GDP at $6.2 billion following contraction in trade deficit and higher earnings from services exports.
The global brokerage firm has also revised down its fiscal year 2015-2016 balance-of-payments (BoP) surplus forecast to $31.7 billion from $48.5 billion to reflect a wider current account deficit and lower capital flows.
Standard Chartered expects capital inflows of $64 billion in this financial year, down from its previous estimate of $75 billion, as "weak risk appetite is likely to keep portfolio inflows sluggish".
Portfolio inflows are likely to remain muted this fiscal year as investors are likely to stay away from riskier assets amid the current risk-averse environment.
"We lower our forecast for foreign portfolio investor (FPI) flows to $5 billion from $30 billion", the report said adding that during the first five months of this fiscal year portfolio investors have withdrawn $ 3 billion from India's equity and debt markets.
"Portfolio flows accounted for close to 70 per cent of capital inflows to India in fiscal year 2015. However, the composition of inflows is likely to improve in this financial year as more stable FDI flows and non-resident Indian (NRI) deposits stay robust", the report added.
Lower commodity prices are unlikely to narrow India's current account deficit, Standard Chartered has said, while revising its CAD forecast for the fiscal to 1.5 per cent from 1.1 per cent of GDP earlier.
According to the global financial services major, the positive impact of lower commodity prices are likely to be offset by a slowing export volumes due to weak global demand and the continued gradual recovery in the economy.
"We revise our FY16 CAD forecast to 1.5 per cent of GDP from 1.1 per cent, despite lower commodity prices," Standard Chartered said in a research note adding that "weaker external demand and risk appetite to weigh on trade deficit, capital flows".
For the first quarter ended June 30, CAD narrowed to 1.2 per cent of GDP at $6.2 billion following contraction in trade deficit and higher earnings from services exports.
The global brokerage firm has also revised down its fiscal year 2015-2016 balance-of-payments (BoP) surplus forecast to $31.7 billion from $48.5 billion to reflect a wider current account deficit and lower capital flows.
Standard Chartered expects capital inflows of $64 billion in this financial year, down from its previous estimate of $75 billion, as "weak risk appetite is likely to keep portfolio inflows sluggish".
Portfolio inflows are likely to remain muted this fiscal year as investors are likely to stay away from riskier assets amid the current risk-averse environment.
"We lower our forecast for foreign portfolio investor (FPI) flows to $5 billion from $30 billion", the report said adding that during the first five months of this fiscal year portfolio investors have withdrawn $ 3 billion from India's equity and debt markets.
"Portfolio flows accounted for close to 70 per cent of capital inflows to India in fiscal year 2015. However, the composition of inflows is likely to improve in this financial year as more stable FDI flows and non-resident Indian (NRI) deposits stay robust", the report added.
General Awareness
List of Important Indian Cities on Rivers
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Hello Readers, below is the list of all the major cities of India and the rivers which flow through the city or on the basin on which the city flourished. We hope, it will help you in Competitive exams.
Town River Agra Yamuna Ahmedabad Sabarmat Allahabad Ganga, Yamuna Ayodhya Saryu Badarinath Alaknanda Calcutta Hooglhly Cuttack Mahanadi Delhi Yamuna Dibrugarh Brahmaputra Ferozepur Sutlej Gauhati Brahmaputra Haridwar Ganga Hyderabad Musi Jabalpur Narmada Kanpur Ganga Kota Chambal Leh Indus Lucknow Gomti Ludhiana Sutlej Nasik Godavari Panchiharpur Bhima Patna Ganges Srinagar Jhelum Surat Tapti Tiruchirapalli Cauvery Varanasi Ganga Vijayawada Krishna
- Hello Readers, below is the list of all the major cities of India and the rivers which flow through the city or on the basin on which the city flourished. We hope, it will help you in Competitive exams.
Town River Agra Yamuna Ahmedabad Sabarmat Allahabad Ganga, Yamuna Ayodhya Saryu Badarinath Alaknanda Calcutta Hooglhly Cuttack Mahanadi Delhi Yamuna Dibrugarh Brahmaputra Ferozepur Sutlej Gauhati Brahmaputra Haridwar Ganga Hyderabad Musi Jabalpur Narmada Kanpur Ganga Kota Chambal Leh Indus Lucknow Gomti Ludhiana Sutlej Nasik Godavari Panchiharpur Bhima Patna Ganges Srinagar Jhelum Surat Tapti Tiruchirapalli Cauvery Varanasi Ganga Vijayawada Krishna
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