General Affairs
S-400 That India Is Buying From Russia Can Launch 72 Missiles At One Go
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The S-400 Triumf air defence system deal, inked by India and Russia Friday notwithstanding the US pressure of sanctions, can engage up to 36 targets at a time and simultaneously launch 72 missiles.
The long and medium range air defense missile system, which Air Force Chief B S Dhanoa said will provide a much needed "booster" to the Air Force, is designed to destroy air attacks, including stealth aircraft and any other aerial targets.
"The sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India," a joint statement released after the delegation level talks between Prime Minister Narendra Modi and Russian President Vladmir Putin said.
The delivery of the missile systems, tipped to be over $5 billion, will start in 24 months.
Acquiring the missile system will help repulse the air attacks by India's adversaries, especially Pakistan and China.
The signing of the deal assumes significance as China, too, has signed a deal with Russia to procure the same missile system.
"This is the most lethal weapons system in the world and it provides four different types of layered air defence," Air Vice-Marshal (retd) Manmohan Bahadur told PTI.
However, the deal comes under the purview of Countering America's Adversaries Through Sanctions Act (CAATSA), which targets Russia, Iran, and North Korea.
India has conveyed to the US its necessity to procure this air defence missile system.
In 1999, the system was demonstrated for the first time at the Kapustin Yar practice range (the Astrakhan Region) to then defence minister Igor Sergeyev. The trials of the most advanced air defense missile system were carried out in the 2000s.
The missile system has been in service since April 2007.
The S-400 is based on the S-300PMU2 air defense missile complex.
The air defence missile system comprises a combat control post, a three-coordinate jam-resistant phased array radar to detect aerial targets, six-eight air defence missile complexes (with up to 12 transporter-launchers, and also a multi-functional four-coordinate illumination and detection radar), a technical support system, a missile transporting vehicles and a training simulator, experts said.
The S-400 system can also additionally include an all-altitude radar (detector) and movable towers for an antenna post, they said.
The target detection range of this system is up to 600 kilometres and its tactical ballistic missile destruction range varies from five kilometres to 60 kilometres.
The long and medium range air defense missile system, which Air Force Chief B S Dhanoa said will provide a much needed "booster" to the Air Force, is designed to destroy air attacks, including stealth aircraft and any other aerial targets.
"The sides welcomed the conclusion of the contract for the supply of the S-400 Long Range Surface to Air Missile System to India," a joint statement released after the delegation level talks between Prime Minister Narendra Modi and Russian President Vladmir Putin said.
The delivery of the missile systems, tipped to be over $5 billion, will start in 24 months.
Acquiring the missile system will help repulse the air attacks by India's adversaries, especially Pakistan and China.
The signing of the deal assumes significance as China, too, has signed a deal with Russia to procure the same missile system.
"This is the most lethal weapons system in the world and it provides four different types of layered air defence," Air Vice-Marshal (retd) Manmohan Bahadur told PTI.
However, the deal comes under the purview of Countering America's Adversaries Through Sanctions Act (CAATSA), which targets Russia, Iran, and North Korea.
India has conveyed to the US its necessity to procure this air defence missile system.
In 1999, the system was demonstrated for the first time at the Kapustin Yar practice range (the Astrakhan Region) to then defence minister Igor Sergeyev. The trials of the most advanced air defense missile system were carried out in the 2000s.
The missile system has been in service since April 2007.
The S-400 is based on the S-300PMU2 air defense missile complex.
The air defence missile system comprises a combat control post, a three-coordinate jam-resistant phased array radar to detect aerial targets, six-eight air defence missile complexes (with up to 12 transporter-launchers, and also a multi-functional four-coordinate illumination and detection radar), a technical support system, a missile transporting vehicles and a training simulator, experts said.
The S-400 system can also additionally include an all-altitude radar (detector) and movable towers for an antenna post, they said.
The target detection range of this system is up to 600 kilometres and its tactical ballistic missile destruction range varies from five kilometres to 60 kilometres.
PM Modi, Vladimir Putin Interact With Students From India And Russia
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Prime Minister Narendra Modi and Russian President Vladimir Putin on Friday interacted with a group of students from India and Russia. Mr Putin was on a two-day visit to India to ink a major missile deal.
During his visit to Sochi in May 2018, PM Modi was invited by President Putin to visit the Sirius Educational Foundation, a special centre for bright students. In his address at that place, PM Modi had promised to bring a delegation of students from India.
The visit of the Sirius delegation to India is the realisation of the idea to bring together talented students from India and Russia, the Ministry of External Affairs said. As part of the visit, the delegation has been working with students from the Atal Innovation Mission (AIM), and the Atal Tinkering Labs, at IIT- Delhi.
The joint projects of Sirius and AIM are in the areas of Agricultural Technology, Space, Healthcare, Clean Energy and Smart Mobility. These areas have been chosen as focus areas for a sustainable future.
Students from Russia also interacted with a select group of students from CBSE schools as well as winners of the Math and Science Olympiads conducted by the Homi Bhabha Center for Science Education. The joint projects, developed by the Indian and Russian students were presented to the two leaders at the event on Friday.
A Memorandum of Understanding was signed between AIM and Sirius for furthering their cooperation through exchange of visits, sharing best practices in the promotion of educational, scientific and innovation and to foster a knowledge driven innovation ecosystem in India and Russia. This will be the beginning of another avenue of cooperation in the Special and Privileged, Strategic Partnership between India and Russia as it enters into the eighth decade, MEA added.
During his visit to Sochi in May 2018, PM Modi was invited by President Putin to visit the Sirius Educational Foundation, a special centre for bright students. In his address at that place, PM Modi had promised to bring a delegation of students from India.
The visit of the Sirius delegation to India is the realisation of the idea to bring together talented students from India and Russia, the Ministry of External Affairs said. As part of the visit, the delegation has been working with students from the Atal Innovation Mission (AIM), and the Atal Tinkering Labs, at IIT- Delhi.
The joint projects of Sirius and AIM are in the areas of Agricultural Technology, Space, Healthcare, Clean Energy and Smart Mobility. These areas have been chosen as focus areas for a sustainable future.
Students from Russia also interacted with a select group of students from CBSE schools as well as winners of the Math and Science Olympiads conducted by the Homi Bhabha Center for Science Education. The joint projects, developed by the Indian and Russian students were presented to the two leaders at the event on Friday.
A Memorandum of Understanding was signed between AIM and Sirius for furthering their cooperation through exchange of visits, sharing best practices in the promotion of educational, scientific and innovation and to foster a knowledge driven innovation ecosystem in India and Russia. This will be the beginning of another avenue of cooperation in the Special and Privileged, Strategic Partnership between India and Russia as it enters into the eighth decade, MEA added.
India Caught In US-Russia Crossfire: Foreign Media
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When the United States enacted a series of sanctions in retaliation for Russia's alleged interference in American elections, the goal was to punish an adversary, not to penalize friends.
But that is exactly what could happen as India - a country which the United States has sought to cultivate as a strategic partner - moves ahead with a major $5 billion weapons purchase from Moscow.
On Friday, during an official visit by Russian President Vladimir Putin to New Delhi, India signed a contract to buy five S-400 Triumf antiaircraft missile systems from Russia.
In theory, such a transaction will expose Indian entities and officials to U.S. sanctions under the Countering America's Adversaries Through Sanctions Act. The legislation, which was passed last year, mandated penalties for countries doing significant business with Russia's defense and intelligence sectors.
Now the crucial question is whether President Donald Trump will grant a waiver to India for the purchase of the S-400. Last month, the United States imposed sanctions on an arm of the Chinese military for buying Russian fighter planes as well as equipment for the S-400.
The United States and India have drawn closer in recent years as both countries cast a wary eye on China's growing influence in the region. But the tussle over the Russian missile system represents a case of conflicting priorities.
From the U.S. perspective, the sanctions regime is a necessary and appropriate response to Russian meddling in the American elections - and Washington expects allies to assist in that effort.
India, meanwhile, is keen to deepen ties with the United States but not at the cost of severing a long-standing defense relationship with Russia. More broadly, it wants the independence to determine its own approach to countries like Iran and China, where its interests may differ substantially from those of the United States.
India "cannot be put in a position where, in effect, Washington decides what kind of relationship they have with these other countries," said Ashley Tellis, a former senior Bush administration official and longtime India expert. "That's where Delhi will draw a bright red line."
Russia is India's largest arms supplier, a relationship that dates back to the Cold War. Between 2013 and 2017, Russia accounted for 62 percent of India's arms imports, according to the Stockholm International Peace Research Institute.
That percentage is declining, however, as India ramps up defense cooperation with the United States. The United States is now the second-biggest supplier of arms to India: it sells 15 percent of such imports, up from next to nothing only a decade ago. Last month the two countries signed a major military accord which will allow India to receive state-of-the-art communications equipment from the U.S.
Now the purchase of the Russian missile system will "test the resilience of the relationship between the U.S. and India," said C. Uday Bhaskar, a security expert and director of the Society for Policy Studies in New Delhi. The arms purchase is not the only area of friction: the United States is also pushing India to reduce or eliminate its purchase of Iranian oil before it reimposes sanctions on Tehran next month.
In recent weeks, U.S. officials have declined to make any promises about what would happen if India went ahead with the S-400 purchase. The intent of the U.S. sanctions law is "to impose costs on Russia for its malign behavior," not to "impose damage to the military capabilities of our allies or partners," according to a statement from the U.S. Embassy in New Delhi.
However, there are "strict criteria" for receiving waivers from sanctions and they will be considered on a "transaction-by-transaction basis," it added.
The two countries have a little time to hash things out: the U.S. sanctions kick in when India starts paying for the missile systems, not from the time a deal is reached, experts said. The U.S. president also has the ability to delay the imposition of sanctions if he determines such purchases are being "substantially" reduced. Other countries will be watching closely: Vietnam and Indonesia, which also make significant arms purchases from Russia, could find themselves in the same predicament as India.
But that is exactly what could happen as India - a country which the United States has sought to cultivate as a strategic partner - moves ahead with a major $5 billion weapons purchase from Moscow.
On Friday, during an official visit by Russian President Vladimir Putin to New Delhi, India signed a contract to buy five S-400 Triumf antiaircraft missile systems from Russia.
In theory, such a transaction will expose Indian entities and officials to U.S. sanctions under the Countering America's Adversaries Through Sanctions Act. The legislation, which was passed last year, mandated penalties for countries doing significant business with Russia's defense and intelligence sectors.
Now the crucial question is whether President Donald Trump will grant a waiver to India for the purchase of the S-400. Last month, the United States imposed sanctions on an arm of the Chinese military for buying Russian fighter planes as well as equipment for the S-400.
The United States and India have drawn closer in recent years as both countries cast a wary eye on China's growing influence in the region. But the tussle over the Russian missile system represents a case of conflicting priorities.
From the U.S. perspective, the sanctions regime is a necessary and appropriate response to Russian meddling in the American elections - and Washington expects allies to assist in that effort.
India, meanwhile, is keen to deepen ties with the United States but not at the cost of severing a long-standing defense relationship with Russia. More broadly, it wants the independence to determine its own approach to countries like Iran and China, where its interests may differ substantially from those of the United States.
India "cannot be put in a position where, in effect, Washington decides what kind of relationship they have with these other countries," said Ashley Tellis, a former senior Bush administration official and longtime India expert. "That's where Delhi will draw a bright red line."
Russia is India's largest arms supplier, a relationship that dates back to the Cold War. Between 2013 and 2017, Russia accounted for 62 percent of India's arms imports, according to the Stockholm International Peace Research Institute.
That percentage is declining, however, as India ramps up defense cooperation with the United States. The United States is now the second-biggest supplier of arms to India: it sells 15 percent of such imports, up from next to nothing only a decade ago. Last month the two countries signed a major military accord which will allow India to receive state-of-the-art communications equipment from the U.S.
Now the purchase of the Russian missile system will "test the resilience of the relationship between the U.S. and India," said C. Uday Bhaskar, a security expert and director of the Society for Policy Studies in New Delhi. The arms purchase is not the only area of friction: the United States is also pushing India to reduce or eliminate its purchase of Iranian oil before it reimposes sanctions on Tehran next month.
In recent weeks, U.S. officials have declined to make any promises about what would happen if India went ahead with the S-400 purchase. The intent of the U.S. sanctions law is "to impose costs on Russia for its malign behavior," not to "impose damage to the military capabilities of our allies or partners," according to a statement from the U.S. Embassy in New Delhi.
However, there are "strict criteria" for receiving waivers from sanctions and they will be considered on a "transaction-by-transaction basis," it added.
The two countries have a little time to hash things out: the U.S. sanctions kick in when India starts paying for the missile systems, not from the time a deal is reached, experts said. The U.S. president also has the ability to delay the imposition of sanctions if he determines such purchases are being "substantially" reduced. Other countries will be watching closely: Vietnam and Indonesia, which also make significant arms purchases from Russia, could find themselves in the same predicament as India.
90% People Keen To Vote In Jammu And Kashmir Local Polls: Rajnath Singh
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Blaming Pakistan for the unrest in Jammu and Kashmir, Home Minister Rajnath Singh said today that 90 per cent people in the state would like to participate the panchayat and urban local body polls scheduled this month.
The home minister, however, acknowledged that there were difficulties in bringing back underworld gangster and 1993 Mumbai serial blasts mastermind Dawood Ibrahim, currently hiding in Pakistan.
Mr Singh said approximately 6,000 terror incidents had taken place in Jammu and Kashmir in 1995 and the number has come down to about 360 in 2017.
"I do agree that the situation in Jammu and Kashmir should improve. But, the problem that we face is mostly because of Pakistan."
"We have always tried to improve relations with Pakistan. But the country will not mend its ways. It continues to sponsor terrorism in Jammu and Kashmir," he said speaking at the HT Leadership Summit.
Referring to the forthcoming elections to the panchayat and urban local bodies in Jammu and Kashmir, the home minister said 90 per cent people of the state would like to get involve in the poll process, which the current government has started after a long break.
When asked about the several BJP candidates getting elected to the local bodies unopposed, Mr Singh said in the recently held panchayat elections in West Bengal, 43 per cent candidates won uncontested and such things are not uncommon.
Talking about the now-snapped BJP-PDP alliance, he said both the parties had joined hands, honouring the mandate of the last state assembly elections, but the "experiment did not succeed".
Mr Singh said naxalism was the biggest challenge the nation was facing till a few years ago, but the menace has been contained to a great extent now.
"Naxalism was spread in 126 districts and it has come down to just 50-52 districts now, and among them the worst hit is just 10 to 12 districts," he said.
Asked about the arrest of some alleged Naxal sympathisers and terming them as "urban Naxals", Mr Singh said there are people who are trying to incite violence or support violence using Maoism and the government would allow them to do so.
On Congress President Rahul Gandhi's allegation that the BJP has taken over some institutions, Mr Singh said the "allegation is baseless".
"He (Rahul Gandhi) should have given at least one example where this has happened. We have always maintained the dignity of every institution in the country," he said.
On incidents of mob killings, the home minister said even though the law and order is a state subject, the central government has issued a number of advisories to the states asking them to take action.
Commenting on the recent agitation by farmers, Mr Singh said the government has given some promise to the protesting farmers and those will be fulfilled.
"I have invited the protesting farmers and had discussions with them for two-three hours. We have been in touch with the farmers. I spoke to them when they were agitating. We are still in touch with them and are arriving at a consensus on many matters," he said.
The home minister, however, acknowledged that there were difficulties in bringing back underworld gangster and 1993 Mumbai serial blasts mastermind Dawood Ibrahim, currently hiding in Pakistan.
Mr Singh said approximately 6,000 terror incidents had taken place in Jammu and Kashmir in 1995 and the number has come down to about 360 in 2017.
"I do agree that the situation in Jammu and Kashmir should improve. But, the problem that we face is mostly because of Pakistan."
"We have always tried to improve relations with Pakistan. But the country will not mend its ways. It continues to sponsor terrorism in Jammu and Kashmir," he said speaking at the HT Leadership Summit.
Referring to the forthcoming elections to the panchayat and urban local bodies in Jammu and Kashmir, the home minister said 90 per cent people of the state would like to get involve in the poll process, which the current government has started after a long break.
When asked about the several BJP candidates getting elected to the local bodies unopposed, Mr Singh said in the recently held panchayat elections in West Bengal, 43 per cent candidates won uncontested and such things are not uncommon.
Talking about the now-snapped BJP-PDP alliance, he said both the parties had joined hands, honouring the mandate of the last state assembly elections, but the "experiment did not succeed".
Mr Singh said naxalism was the biggest challenge the nation was facing till a few years ago, but the menace has been contained to a great extent now.
"Naxalism was spread in 126 districts and it has come down to just 50-52 districts now, and among them the worst hit is just 10 to 12 districts," he said.
Asked about the arrest of some alleged Naxal sympathisers and terming them as "urban Naxals", Mr Singh said there are people who are trying to incite violence or support violence using Maoism and the government would allow them to do so.
On Congress President Rahul Gandhi's allegation that the BJP has taken over some institutions, Mr Singh said the "allegation is baseless".
"He (Rahul Gandhi) should have given at least one example where this has happened. We have always maintained the dignity of every institution in the country," he said.
On incidents of mob killings, the home minister said even though the law and order is a state subject, the central government has issued a number of advisories to the states asking them to take action.
Commenting on the recent agitation by farmers, Mr Singh said the government has given some promise to the protesting farmers and those will be fulfilled.
"I have invited the protesting farmers and had discussions with them for two-three hours. We have been in touch with the farmers. I spoke to them when they were agitating. We are still in touch with them and are arriving at a consensus on many matters," he said.
"I Was More Flexible Than State Leaders": Rahul Gandhi On Mayawati Barbs
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Congress President Rahul Gandhi on Friday said he is willing to be the Prime Minister if allies want him to take the top job.
Asked about his remarks in the run up to the Karnataka Assembly elections when he had expressed his willingness to be the Prime Minister, he said it would be a two stage process -- first defeating the Bharatiya Janata Party (BJP) and then deciding on the Prime Ministerial candidate after the elections.
When pressed on the issue, Mr Gandhi said: "If they (allies) want me, I will surely want to be the Prime Minister."
Mr Gandhi was speaking at an interactive session at the Hindustan Times Leadership Summit here.
Asked about the similarities and differences between him and his mother Sonia Gandhi, he said: "She taught me patience, I used to be impatient. Both of us tend to listen but sometimes I tell her she is too patient.
"She tells me that she goes by her gut feeling and I go on thinking... I don't agree with that.
"Leadership is evolution, its a dynamic process. In my evolution (as a leader), I am much more into listening to people and understanding what they want."
Asked about his remarks in the run up to the Karnataka Assembly elections when he had expressed his willingness to be the Prime Minister, he said it would be a two stage process -- first defeating the Bharatiya Janata Party (BJP) and then deciding on the Prime Ministerial candidate after the elections.
When pressed on the issue, Mr Gandhi said: "If they (allies) want me, I will surely want to be the Prime Minister."
Mr Gandhi was speaking at an interactive session at the Hindustan Times Leadership Summit here.
Asked about the similarities and differences between him and his mother Sonia Gandhi, he said: "She taught me patience, I used to be impatient. Both of us tend to listen but sometimes I tell her she is too patient.
"She tells me that she goes by her gut feeling and I go on thinking... I don't agree with that.
"Leadership is evolution, its a dynamic process. In my evolution (as a leader), I am much more into listening to people and understanding what they want."
Business Affairs
Ravi Shankar Prasad asks Russia to leverage massive potential of India's digital economy
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India on Friday invited Russia to leverage the potential of its booming digital economy, with IT Minister Ravi Shankar Prasad saying that collaboration in areas like Artificial Intelligence (AI) and e-health would spur technology momentum of both the economies.
Prasad said India is pushing its digital economy to touch $1 trillion mark in coming 3-4 years, leading to opportunities in areas like IT, e-commerce, communications and electronics manufacturing. Terming Indo-Russian relationship as one of "trust, understanding and reciprocity", Prasad said the two sides had a common world view on a variety of matters and that ties have remained immune from the political changes and other differences.
"Indeed, it has acquired a new momentum because of personal chemistry and understanding between Prime Minister Narendra Modi and Russian President Vladimir Putin," Prasad said addressing India Russia Business Summit organised by industry body CII.
Highlighting India's strength in skilled manpower and innovation and Russia's technology prowess, Prasad said India too offers a vast potential in emerging areas like AI, e-healthcare and e-education and the booming startup ecosystem.
"When I talk of digital economy, it has already acquired a momentum of its own and is creating an opportunity for industrialists, IT experts, IT professionals and start ups...India is a big startup movement with over 5,000 start ups. All this presents a larger narrative....I request all of you to join in India's digital economy," Prasad said.
He noted that the success of India's IT industry is backed by skilled talent and low-cost inclusive technology. The mobile phone base in the country stands at 1.21 billion with 450 million smartphones, Prasad said, adding that 1.22 billion Aadhaar cards offered residents a verifiable digital identity.
"Indo-Russian relationship offers a great opportunity to work together. Russia has outstanding people, innovators. India is also a land of innovators and human resource including young IT graduates...If we have this kind of collaboration and cooperation, Indo-Russian relationship will acquire a technology momentum of its own," the minister said.
Prasad said India is pushing its digital economy to touch $1 trillion mark in coming 3-4 years, leading to opportunities in areas like IT, e-commerce, communications and electronics manufacturing. Terming Indo-Russian relationship as one of "trust, understanding and reciprocity", Prasad said the two sides had a common world view on a variety of matters and that ties have remained immune from the political changes and other differences.
"Indeed, it has acquired a new momentum because of personal chemistry and understanding between Prime Minister Narendra Modi and Russian President Vladimir Putin," Prasad said addressing India Russia Business Summit organised by industry body CII.
Highlighting India's strength in skilled manpower and innovation and Russia's technology prowess, Prasad said India too offers a vast potential in emerging areas like AI, e-healthcare and e-education and the booming startup ecosystem.
"When I talk of digital economy, it has already acquired a momentum of its own and is creating an opportunity for industrialists, IT experts, IT professionals and start ups...India is a big startup movement with over 5,000 start ups. All this presents a larger narrative....I request all of you to join in India's digital economy," Prasad said.
He noted that the success of India's IT industry is backed by skilled talent and low-cost inclusive technology. The mobile phone base in the country stands at 1.21 billion with 450 million smartphones, Prasad said, adding that 1.22 billion Aadhaar cards offered residents a verifiable digital identity.
"Indo-Russian relationship offers a great opportunity to work together. Russia has outstanding people, innovators. India is also a land of innovators and human resource including young IT graduates...If we have this kind of collaboration and cooperation, Indo-Russian relationship will acquire a technology momentum of its own," the minister said.
Govt appoints Rakesh Sharma as IDBI Bank MD & CEO for six months
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Rakesh Sharma has been appointed as the managing director and chief executive officer of IDBI Bank for a period of six months. He will succeed B Sriram, who retired on September 30 after holding the office for three months.
Sharma was the chief executive at Canara Bank till June 2018. Back in August 2015, he was among the private professionals government had roped in to lead two large public sector banks - Canara Bank and Bank of Baroda. Prior to that, he was at the helm of Lakshmi Vilas Bank.
On Thursday, the board of IDBI Bank approved the proposal for preferential allotment of equity shares to Life Insurance Corporation of India (LIC) aggregating up to 51 per cent of post issue paid up capital of the bank. The government has already approved the proposal of LIC to increase the stake in IDBI Bank.
The IDBI Bank board also approved increasing authorized capital of the bank from Rs 8,000 crore to Rs 15,000 crore. In its meeting, the board also cleared a proposal for re-classification of LIC as promoter of the bank post acquisition of 51 per cent stake in IDBI Bank, it said. The board also approved alterations in Articles of Association of the bank.
The bank's board also approved allotment of 33.98 crore equity shares to LIC at a price of Rs 61.73 per share inclusive of premium amount of Rs 51.73 per share aggregating up to Rs 2,098.19 crore through preferential issue. The allotment of nearly 34 crore shares will increase LIC's stake to about 15 per cent.
At present, insurance behemoth LIC holds 7.98 per cent stake in the debt-ridden public sector bank. The government holds 85.96 per cent stake in the beleaguered public sector bank. The bank had posted a net loss of Rs 2,409.89 crore in June quarter of this fiscal. It had gross non-performing asset (NPAs) of about Rs 57,807 crore.
Sharma was the chief executive at Canara Bank till June 2018. Back in August 2015, he was among the private professionals government had roped in to lead two large public sector banks - Canara Bank and Bank of Baroda. Prior to that, he was at the helm of Lakshmi Vilas Bank.
On Thursday, the board of IDBI Bank approved the proposal for preferential allotment of equity shares to Life Insurance Corporation of India (LIC) aggregating up to 51 per cent of post issue paid up capital of the bank. The government has already approved the proposal of LIC to increase the stake in IDBI Bank.
The IDBI Bank board also approved increasing authorized capital of the bank from Rs 8,000 crore to Rs 15,000 crore. In its meeting, the board also cleared a proposal for re-classification of LIC as promoter of the bank post acquisition of 51 per cent stake in IDBI Bank, it said. The board also approved alterations in Articles of Association of the bank.
The bank's board also approved allotment of 33.98 crore equity shares to LIC at a price of Rs 61.73 per share inclusive of premium amount of Rs 51.73 per share aggregating up to Rs 2,098.19 crore through preferential issue. The allotment of nearly 34 crore shares will increase LIC's stake to about 15 per cent.
At present, insurance behemoth LIC holds 7.98 per cent stake in the debt-ridden public sector bank. The government holds 85.96 per cent stake in the beleaguered public sector bank. The bank had posted a net loss of Rs 2,409.89 crore in June quarter of this fiscal. It had gross non-performing asset (NPAs) of about Rs 57,807 crore.
India to continue Iranian oil imports post US sanctions
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In the first clear indication of India's willingness to continue trade with Iran despite US sanctions, state refiners have contracted import of 1.25 million tonnes of crude oil from the Persian Gulf nation and is preparing to replace dollar payments with rupee trade.
Top industry sources said Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in November, the month when the US sanctions against Iran's oil sector kick-in.
While India wants to continue importing Iranian oil, albeit a reduced volume, US Secretary of State Mike Pompeo last month stated that Washington would consider waivers on the embargo but made clear that these would be time-limited, if granted.
Sources said IOC is importing the "usual" monthly volumes of oil from Iran. It had planned to import of 9 million tonnes of Iranian oil in the 2018-19 fiscal (April 2018 to March 2019) or 0.75 million tonnes a month.
US sanctions against Iran kick in from November 4, which will block payment routes.
Sources said India and Iran are discussing reverting to rupee trade after November 4.
"Iran has been off-and-on taking rupee payments for oil it sells. This rupee it uses for paying for imports of medicines and other commodities. A similar arrangement is in works," a source said.
Details of the payment mechanism would emerge in the next few weeks, he said.
Oil refiners such as state-owned IOC and MRPL could use UCO Bank or IDBI Bank to route oil payments to Iran, sources said.
India had planned to import about 25 million tonnes of crude oil from Iran in the current fiscal, up from 22.6 million tonnes imported in 2017-18. But the actual volumes imported may be far less as companies like Reliance Industries have totally stopped buying oil from Iran and others too are scaling it down in hope of winning a sanction waiver from the US.
Nayara Energy, formerly Essar Oil, too is stopping import from Iran.
US President Donald Trump in May withdrew from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6 while those affecting the oil and banking sectors will start from November 4.
Sources said Iran is open to accepting rupee payment for oil and may use the money to pay for equipment and food items it buys from India.
UCO Bank and IDBI Bank have been identified to route the payment as the two have no exposure to the US financial system.
UCO Bank had in the previous round of sanctions handled rupee payments.
Currently, India pays its third largest oil supplier in euros using European banking channels. These channels would get blocked from November.
During the first round of sanctions when EU joined the US in imposing financial restrictions, India initially used a Turkish bank to pay Iran for the oil it bought but beginning February 2013 paid nearly half of the oil import bill in rupees while keeping the remainder pending opening of payment routes. It began clearing the dues in 2015 when the restrictions were eased.
Besides, New Delhi sought to get around the restrictions by supplying goods including wheat, soybean meal and consumer products to Iran in exchange for oil.
Sources said this time around the entire 100 per cent of Iranian oil import bill can be paid in rupees.
Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia. It was India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but Western sanctions over its suspected nuclear programme relegated it to the seventh spot in the subsequent years. In 2013-14 and 2014-15, India bought 11 million tonnes and 10.95 million tonnes respectively from it.
Sourcing from Iran increased to 12.7 million tonnes in 2015-16, giving it the sixth spot. In the following year, the Iranian supplies jumped to 27.2 million tonnes to catapult it to the third spot.
Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US.
Besides blocking of banking channels from November, the absence of payment mechanism may pose a challenge to the transportation of the oil as Iranian crude is bought on a CIF basis and shipped on Iranian tankers.
Under Cost, Insurance and Freight (CIF) mode of shipping, the seller assumes the responsibility of transportation and insurance. The liability and costs associated with successful transit are paid by the seller until the goods are received by the buyer.
Top industry sources said Indian Oil Corp (IOC) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have contracted 1.25 million tonnes of Iranian oil for import in November, the month when the US sanctions against Iran's oil sector kick-in.
While India wants to continue importing Iranian oil, albeit a reduced volume, US Secretary of State Mike Pompeo last month stated that Washington would consider waivers on the embargo but made clear that these would be time-limited, if granted.
Sources said IOC is importing the "usual" monthly volumes of oil from Iran. It had planned to import of 9 million tonnes of Iranian oil in the 2018-19 fiscal (April 2018 to March 2019) or 0.75 million tonnes a month.
US sanctions against Iran kick in from November 4, which will block payment routes.
Sources said India and Iran are discussing reverting to rupee trade after November 4.
"Iran has been off-and-on taking rupee payments for oil it sells. This rupee it uses for paying for imports of medicines and other commodities. A similar arrangement is in works," a source said.
Details of the payment mechanism would emerge in the next few weeks, he said.
Oil refiners such as state-owned IOC and MRPL could use UCO Bank or IDBI Bank to route oil payments to Iran, sources said.
India had planned to import about 25 million tonnes of crude oil from Iran in the current fiscal, up from 22.6 million tonnes imported in 2017-18. But the actual volumes imported may be far less as companies like Reliance Industries have totally stopped buying oil from Iran and others too are scaling it down in hope of winning a sanction waiver from the US.
Nayara Energy, formerly Essar Oil, too is stopping import from Iran.
US President Donald Trump in May withdrew from the 2015 nuclear accord with Iran, re-imposing economic sanctions against the Persian Gulf nation. Some sanctions took effect from August 6 while those affecting the oil and banking sectors will start from November 4.
Sources said Iran is open to accepting rupee payment for oil and may use the money to pay for equipment and food items it buys from India.
UCO Bank and IDBI Bank have been identified to route the payment as the two have no exposure to the US financial system.
UCO Bank had in the previous round of sanctions handled rupee payments.
Currently, India pays its third largest oil supplier in euros using European banking channels. These channels would get blocked from November.
During the first round of sanctions when EU joined the US in imposing financial restrictions, India initially used a Turkish bank to pay Iran for the oil it bought but beginning February 2013 paid nearly half of the oil import bill in rupees while keeping the remainder pending opening of payment routes. It began clearing the dues in 2015 when the restrictions were eased.
Besides, New Delhi sought to get around the restrictions by supplying goods including wheat, soybean meal and consumer products to Iran in exchange for oil.
Sources said this time around the entire 100 per cent of Iranian oil import bill can be paid in rupees.
Iran is India's third-largest oil supplier behind Iraq and Saudi Arabia. It was India's second biggest supplier of crude oil after Saudi Arabia till 2010-11 but Western sanctions over its suspected nuclear programme relegated it to the seventh spot in the subsequent years. In 2013-14 and 2014-15, India bought 11 million tonnes and 10.95 million tonnes respectively from it.
Sourcing from Iran increased to 12.7 million tonnes in 2015-16, giving it the sixth spot. In the following year, the Iranian supplies jumped to 27.2 million tonnes to catapult it to the third spot.
Iranian oil is a lucrative buy for refiners as the Persian Gulf nation provides 60 days of credit for purchases, terms not available from suppliers of substitute crudes -- Saudi Arabia, Kuwait, Iraq, Nigeria, and the US.
Besides blocking of banking channels from November, the absence of payment mechanism may pose a challenge to the transportation of the oil as Iranian crude is bought on a CIF basis and shipped on Iranian tankers.
Under Cost, Insurance and Freight (CIF) mode of shipping, the seller assumes the responsibility of transportation and insurance. The liability and costs associated with successful transit are paid by the seller until the goods are received by the buyer.
Putin in Delhi: India, Russia revisiting the rupee-ruble arrangement
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President Putin's visit to New Delhi for the annual bilateral summit is focussed on taking forward the understanding reached between Prime Minister Modi and President Vladimir Putin at the informal meeting in Sochi.
With the US administration breathing down India's neck with sanctions under CAATSA and no presidential waiver in sight, India is still going ahead with multilateral-billion dollar deals with Russia emphasising the importance of India-Russia strategic partnership.
Ahead of the Russian President's arrival, his top foreign policy aide Yury Ushakov had confirmed that the Russian President will oversee the signing of the S-400 air defence systems deal. The first official confirmation from the Russian government at the highest level of the deal, which is worth more than $5 billion.
A major part of discussion between government-to-government and business-to-business has been the eventuality of any form of sanctions by the US that could restrict trade between the two countries.
India Today has learnt that the two countries and industries on both sides are discussing the Rupee-Ruble arrangement as payment and transaction methods to have uninterrupted economic, trade and defence cooperation.
Speaking to India Today, Gasprom Bank's Representative in India Sergey Mitreykin said that the banking communities had been talking about this arrangement for the past two-three years and now because of the current environment taking, it was time to take some practical steps instead of just discussing them.
"I am absolutely certain that it is a totally workable solution. The only issue is that everybody is used to working in dollars, the framework is there, bank accounts and processes are in place; in Rupee-Ruble you would have to set that up which would take some time and cost. So, the sooner two commercial parties decide to look at this arrangement, they will have to do some homework and incur some cost but it will take off without a problem", he said.
Instead of using dollars, the two nations are looking at the Rupee-Ruble arrangement or some other currency which is not affected by the Americans.
Russia has been pushing for this mode of payment for a while but India has been reluctant given the depreciation in Ruble in the past years.
But Andrey Slepnev, Director of Russia Export Center, struck a positive not and dismissed US actions as "illegal" and reaffirmed the need for continuity in bilateral cooperation between India and Russia.
"We do hope that illegal measure against Russian federation would not touch upon the goodwill to continue our cooperation. Of course, trade in national currencies has been a trend for quite a while. It was used before also when sanctions were in place" said Slepnev.
Both the leaders are likely to sign about 20 pacts in areas ranging from defence, nuclear energy, space and economy, including the S-400 air defence systems deal on Friday.
One of the announcements would be holding of the joint India-Russia counter-terrorism exercise, Indra-2018, set to be held from November 18 to 28, 2018.
The US is watching this visit very closely. Trump administration only last week slapped sanctions against China which was the first foreign buyer to procure the lethal missile system in 2014.
While America's line has only hardened, former diplomat who served in Moscow Ambassador Anil Trigunayat is more optimistic of how things could pan out for these "strategic" partners of India. India is much too important and a huge defence market for US to let go off over one deal is how this former Indian diplomat puts it.
Alluding to the fact that CAATSA is only a way to grab larger part of the Indian defence pie, Ambassador Trigunayat said, "S-400 is essential for us. We have informed the Americans. While I am not privy to the negotiations, but from what I can read, US understands that this is not a deal which cannot be waived. They will have to allow it to go through. With CAATSA, they are looking for their pie. They want to sell their THAAD and other equipments."
The Russian head of the state, who is accompanied by a high-level delegation, was received by External Affairs Minister Sushma Swaraj in New Delhi on Thursday. He later was hosted for dinner by Prime Minister Narendra Modi at his residence, 7, Lok Kalyan Marg as both the leaders talked over a host of issues, including bilateral cooperation and strategic issues.
On Friday, apart from the bilateral talks, the two leaders will address the India-Russia Business forum and interact with a group of 20 students (10 Russian and 10 Indian) from India's Atal Innovation Mission and Russia's Creative School, SIRIUS.
The two countries are set to sign a Memorandum of Understanding (MoU) that will facilitate collaboration in the field of science and technology between India's Atal Innovation Mission and Russia's Creative School, SIRIUS.
Named after former Indian Prime Minister, Atal Bihari Vajpayee, the Atal Innovation Mission (AIM) is a flagship initiative school set up by India's policy think tank NITI Aayog to promote innovation and entrepreneurship among future generations.
With the US administration breathing down India's neck with sanctions under CAATSA and no presidential waiver in sight, India is still going ahead with multilateral-billion dollar deals with Russia emphasising the importance of India-Russia strategic partnership.
Ahead of the Russian President's arrival, his top foreign policy aide Yury Ushakov had confirmed that the Russian President will oversee the signing of the S-400 air defence systems deal. The first official confirmation from the Russian government at the highest level of the deal, which is worth more than $5 billion.
A major part of discussion between government-to-government and business-to-business has been the eventuality of any form of sanctions by the US that could restrict trade between the two countries.
India Today has learnt that the two countries and industries on both sides are discussing the Rupee-Ruble arrangement as payment and transaction methods to have uninterrupted economic, trade and defence cooperation.
Speaking to India Today, Gasprom Bank's Representative in India Sergey Mitreykin said that the banking communities had been talking about this arrangement for the past two-three years and now because of the current environment taking, it was time to take some practical steps instead of just discussing them.
"I am absolutely certain that it is a totally workable solution. The only issue is that everybody is used to working in dollars, the framework is there, bank accounts and processes are in place; in Rupee-Ruble you would have to set that up which would take some time and cost. So, the sooner two commercial parties decide to look at this arrangement, they will have to do some homework and incur some cost but it will take off without a problem", he said.
Instead of using dollars, the two nations are looking at the Rupee-Ruble arrangement or some other currency which is not affected by the Americans.
Russia has been pushing for this mode of payment for a while but India has been reluctant given the depreciation in Ruble in the past years.
But Andrey Slepnev, Director of Russia Export Center, struck a positive not and dismissed US actions as "illegal" and reaffirmed the need for continuity in bilateral cooperation between India and Russia.
"We do hope that illegal measure against Russian federation would not touch upon the goodwill to continue our cooperation. Of course, trade in national currencies has been a trend for quite a while. It was used before also when sanctions were in place" said Slepnev.
Both the leaders are likely to sign about 20 pacts in areas ranging from defence, nuclear energy, space and economy, including the S-400 air defence systems deal on Friday.
One of the announcements would be holding of the joint India-Russia counter-terrorism exercise, Indra-2018, set to be held from November 18 to 28, 2018.
The US is watching this visit very closely. Trump administration only last week slapped sanctions against China which was the first foreign buyer to procure the lethal missile system in 2014.
While America's line has only hardened, former diplomat who served in Moscow Ambassador Anil Trigunayat is more optimistic of how things could pan out for these "strategic" partners of India. India is much too important and a huge defence market for US to let go off over one deal is how this former Indian diplomat puts it.
Alluding to the fact that CAATSA is only a way to grab larger part of the Indian defence pie, Ambassador Trigunayat said, "S-400 is essential for us. We have informed the Americans. While I am not privy to the negotiations, but from what I can read, US understands that this is not a deal which cannot be waived. They will have to allow it to go through. With CAATSA, they are looking for their pie. They want to sell their THAAD and other equipments."
The Russian head of the state, who is accompanied by a high-level delegation, was received by External Affairs Minister Sushma Swaraj in New Delhi on Thursday. He later was hosted for dinner by Prime Minister Narendra Modi at his residence, 7, Lok Kalyan Marg as both the leaders talked over a host of issues, including bilateral cooperation and strategic issues.
On Friday, apart from the bilateral talks, the two leaders will address the India-Russia Business forum and interact with a group of 20 students (10 Russian and 10 Indian) from India's Atal Innovation Mission and Russia's Creative School, SIRIUS.
The two countries are set to sign a Memorandum of Understanding (MoU) that will facilitate collaboration in the field of science and technology between India's Atal Innovation Mission and Russia's Creative School, SIRIUS.
Named after former Indian Prime Minister, Atal Bihari Vajpayee, the Atal Innovation Mission (AIM) is a flagship initiative school set up by India's policy think tank NITI Aayog to promote innovation and entrepreneurship among future generations.
Sensex crashes 792 points as rupee hits 74 against dollar
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Sensex and Nifty crashed 792 points and 282 points after the Reserve Bank of India kept key policy rates unchanged and changed its stance to 'calibrated tightening' from 'neutral'. Earlier in the morning trade, Sensex opened 169 points lower from the previous day close of 35,169.16 at 35,000.27. After the closing of the trade, Sensex had fallen to 34,376.99 (2.25 per cent). The NSE Nifty 50 Index declined 2.67 per cent or 282.85 points to the lowest level of 10,316.50.
The 30-share index lost over 1,356.98 points in the previous two sessions on continuously falling value of rupee against dollar and boiling crude oil prices. Sectoral indices led by oil and gas PSUs cracked up to 10.27 per cent after the government announced Rs 2.5 cut on fuel, including Re 1 cut by oil marketing companies. Infrastructure, auto and banking stocks are also among hit during the early morning trade.
The shares of BPCL (Bharat Petroleum Corporation Ltd), HPCL (Hindustan Petroleum Corporation Ltd) and IOC (Indian Oil Corporation Ltd) were trading lower by up to 24 per cent on nervous selling by investors. The HPCL share is the worst hit among the three as marketing holds the biggest share in its operating income. In the early morning trade, the share of HPCL was trading 24.50 per cent lower at 163.95.
Brokers said investors offloaded their positions, tracking a selloff in global markets as US Treasury surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation. Besides, caution ahead of RBI's monetary policy announcement which expected to hike interest rates by 25 basis points, too, dented sentiments, they added.
Shares of ONGC, Bajaj auto, HUL, ITC, M&M, RIL, Maruti Suzuki, Hero MotoCorp, Adani Ports, HDFC Bank, NTPC, Vedanta, HDFC, HDFC Bank, Tata Steel and Axis Bank tanked up to 11.27 per cent. On the other hand, Sun Pharma, IndusInd Bank, Tata Motors, Infosys, Yes Bank, PowerGrid, TCS and Kotak Bank bucked market trend, and were trading in the green, rising up to 2 per cent. Among other Asian markets, Japan's Nikkei, Hong Kong's Hang Seng, Strait Times and Taiwan indices fell up to 1.73 per cent. The US Dow Jones Industrial Average too ended lower on Thursday.
The 30-share index lost over 1,356.98 points in the previous two sessions on continuously falling value of rupee against dollar and boiling crude oil prices. Sectoral indices led by oil and gas PSUs cracked up to 10.27 per cent after the government announced Rs 2.5 cut on fuel, including Re 1 cut by oil marketing companies. Infrastructure, auto and banking stocks are also among hit during the early morning trade.
The shares of BPCL (Bharat Petroleum Corporation Ltd), HPCL (Hindustan Petroleum Corporation Ltd) and IOC (Indian Oil Corporation Ltd) were trading lower by up to 24 per cent on nervous selling by investors. The HPCL share is the worst hit among the three as marketing holds the biggest share in its operating income. In the early morning trade, the share of HPCL was trading 24.50 per cent lower at 163.95.
Brokers said investors offloaded their positions, tracking a selloff in global markets as US Treasury surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation. Besides, caution ahead of RBI's monetary policy announcement which expected to hike interest rates by 25 basis points, too, dented sentiments, they added.
Shares of ONGC, Bajaj auto, HUL, ITC, M&M, RIL, Maruti Suzuki, Hero MotoCorp, Adani Ports, HDFC Bank, NTPC, Vedanta, HDFC, HDFC Bank, Tata Steel and Axis Bank tanked up to 11.27 per cent. On the other hand, Sun Pharma, IndusInd Bank, Tata Motors, Infosys, Yes Bank, PowerGrid, TCS and Kotak Bank bucked market trend, and were trading in the green, rising up to 2 per cent. Among other Asian markets, Japan's Nikkei, Hong Kong's Hang Seng, Strait Times and Taiwan indices fell up to 1.73 per cent. The US Dow Jones Industrial Average too ended lower on Thursday.
General Awareness
Assam wage compensation scheme
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What to study?
For Prelims and Mains: Key features and significance of the scheme.
Context: Assam Government has become the first Indian state to offer a Wage Compensation Scheme for pregnant women working in the tea gardens of the state.
Aim: The scheme is aimed at providing better health and nutrition supplements to the pregnant women. It stresses on providing proper healthcare facilities to the pregnant women working in the tea gardens of the state.
Highlights of the scheme:
Under the scheme, an amount of Rs 12,000 will be given to the pregnant women so that they can take care of themselves and the unborn baby without compromising the livelihood of their family.
The compensation of wages to pregnant women will be given in 4 instalments – Rs 2,000 in the first trimester, Rs 4,000 in the second trimester, Rs 3,000 for institutional delivery and Rs 3,000 for registration of the child’s birth.
The women would also be given a maternity leave. They will not be engaged in work from the third trimester of pregnancy to three months after delivery.
In addition, they will get assistance for ante-natal care and the first cycle of immunization of the child.
Significance of the scheme:
The bulk of the workforce in Assam’s tea gardens is women. The maternal mortality rate of women working in the tea plantations of Assam is unusually high. The scheme is likely to benefit over 60,000 women in the state. It is expected to reduce maternal and neonatal mortality in the tea areas.
Background:
In the Annual Health Survey of 2012-13, Assam recorded one of the highest maternal mortality rates in India, with over 300 maternal deaths per 100,000 live births. The MMR in the state’s tea gardens was even higher, as it was recorded to be 404. The national average during 2014-16 was 130. Further, almost 50% of the pregnant women aged between 15 and 49 years in the state were recorded to be anaemic, which is a leading contributor to maternal mortality.
What to study?
For Prelims and Mains: Key features and significance of the scheme.
Context: Assam Government has become the first Indian state to offer a Wage Compensation Scheme for pregnant women working in the tea gardens of the state.
Aim: The scheme is aimed at providing better health and nutrition supplements to the pregnant women. It stresses on providing proper healthcare facilities to the pregnant women working in the tea gardens of the state.
Highlights of the scheme:
Under the scheme, an amount of Rs 12,000 will be given to the pregnant women so that they can take care of themselves and the unborn baby without compromising the livelihood of their family.
The compensation of wages to pregnant women will be given in 4 instalments – Rs 2,000 in the first trimester, Rs 4,000 in the second trimester, Rs 3,000 for institutional delivery and Rs 3,000 for registration of the child’s birth.
The women would also be given a maternity leave. They will not be engaged in work from the third trimester of pregnancy to three months after delivery.
In addition, they will get assistance for ante-natal care and the first cycle of immunization of the child.
Significance of the scheme:
The bulk of the workforce in Assam’s tea gardens is women. The maternal mortality rate of women working in the tea plantations of Assam is unusually high. The scheme is likely to benefit over 60,000 women in the state. It is expected to reduce maternal and neonatal mortality in the tea areas.
Background:
In the Annual Health Survey of 2012-13, Assam recorded one of the highest maternal mortality rates in India, with over 300 maternal deaths per 100,000 live births. The MMR in the state’s tea gardens was even higher, as it was recorded to be 404. The national average during 2014-16 was 130. Further, almost 50% of the pregnant women aged between 15 and 49 years in the state were recorded to be anaemic, which is a leading contributor to maternal mortality.
For Prelims and Mains: Key features and significance of the scheme.
Context: Assam Government has become the first Indian state to offer a Wage Compensation Scheme for pregnant women working in the tea gardens of the state.
Aim: The scheme is aimed at providing better health and nutrition supplements to the pregnant women. It stresses on providing proper healthcare facilities to the pregnant women working in the tea gardens of the state.
Highlights of the scheme:
Under the scheme, an amount of Rs 12,000 will be given to the pregnant women so that they can take care of themselves and the unborn baby without compromising the livelihood of their family.
The compensation of wages to pregnant women will be given in 4 instalments – Rs 2,000 in the first trimester, Rs 4,000 in the second trimester, Rs 3,000 for institutional delivery and Rs 3,000 for registration of the child’s birth.
The women would also be given a maternity leave. They will not be engaged in work from the third trimester of pregnancy to three months after delivery.
In addition, they will get assistance for ante-natal care and the first cycle of immunization of the child.
Significance of the scheme:
The bulk of the workforce in Assam’s tea gardens is women. The maternal mortality rate of women working in the tea plantations of Assam is unusually high. The scheme is likely to benefit over 60,000 women in the state. It is expected to reduce maternal and neonatal mortality in the tea areas.
Background:
In the Annual Health Survey of 2012-13, Assam recorded one of the highest maternal mortality rates in India, with over 300 maternal deaths per 100,000 live births. The MMR in the state’s tea gardens was even higher, as it was recorded to be 404. The national average during 2014-16 was 130. Further, almost 50% of the pregnant women aged between 15 and 49 years in the state were recorded to be anaemic, which is a leading contributor to maternal mortality.
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