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You are here: Home / Archives for Nasheman

Parliament nod to bill for merger of subsidiary banks with RBI

July 18, 2018 by Nasheman


Parliament has approved the bill to merge six subsidiary banks with the State Bank of India (SBI) with the Rajya Sabha on Wednesday clearing the State Banks (Repeal and Amendment) Bill, 2017.

The bill repeals the State Bank of India (Subsidiary Banks) Act, 1959, and State Bank of Hyderabad Act, 1956 besides amending the State Bank of India (SBI) Act, 1955.

The State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore were constituted under the State Bank of India (Subsidiary Banks) Act, 1959.

The State Bank of Hyderabad and the State Bank of Patiala were wholly owned by the State Bank of India (SBI). The SBI had 90 percent shareholding in the State Bank of Mysore, 75.07 percent shareholding in the State Bank of Bikaner and Jaipur and 79.09 percent shareholding in the State Bank of Travancore.

For the purposes of “rationalisation of resources, reduction of costs, better profitability, lower cost of funds leading to better rate of interest for public at large, improved productivity and customer service,” the SBI, with the sanction of the central government and in consultation with the Reserve Bank of India (RBI), entered into negotiations with these subsidiary banks for acquiring the business, including assets and liabilities.

The Union Cabinet granted its approval in February 2017, which allowed the SBI to acquire these subsidiaries.

“After the acquisition of the subsidiary banks by SBI, the subsidiary banks have ceased to exist and, therefore, it was necessary to repeal the State Bank of India (Subsidiary Banks) Act, 1959 and the State Bank of Hyderabad Act, 1956,” the objectives of the Bill read.

“There are certain provisions in the State Bank of India Act, 1955, which apply to the subsidiary banks. After the acquisition of all the subsidiary banks by the SBI, it is not necessary to retain such provisions in the State Bank of India Act, 1955. Therefore, certain amendments are necessary in the said Act in so far as they relate to the subsidiary banks,” it said.

The Bill was introduced in the Lok Sabha by the Finance Minister Arun Jaitley on July 21, 2017, and has been passed by the lower house.

Filed Under: Business & Technology

11 Afghan journalists killed in six months

July 18, 2018 by Nasheman


Eleven Afghan journalists and media workers have been killed in the first half of the year amid deteriorating security, an independent media safety group said on Wednesday.

“The first six months of 2018 was the bloodiest reporting period for journalists and the media community in Afghanistan. About 89 cases of violence and intimidation were reported, 11 of which involved the killing of journalists,” Afghan Journalists Safety Committee (AJSC) told Xinhua news agency.

A group of nine reporters was killed on April 30 in a suicide bombing while they were covering a terrorist attack at a diplomatic district. The attack was later claimed by the Islamic State (IS) terrorist group.

Two other journalists were shot dead in southern Kandahar and eastern Khost provinces in the same month.

The press safety group also expressed concern over the continuation and expansion of violence and threats to Afghan journalists posed by terrorist groups, particularly Taliban and IS affiliates.

“The intensity and scale of violence has been unprecedented during this period of 2018,” AJSC added.

Filed Under: World

SC said that Woman’s right to entry for Sabarimala Temple

July 18, 2018 by Nasheman


The Supreme Court on Wednesday said that a woman’s right to pray is equal to that of a man as enshrined in the Constitution and forming a law cannot negate that. The apex court was hearing a batch of petitions challenging the ban on entry of women in Kerala’s Sabarimala temple on grounds of biological factors.

“On what basis you (temple authorities) deny the entry. It is against the Constitutional mandate. Once you open it for the public, anybody can go,” Chief Justice Dipak Misra said.

He said that if the temple has allowed men to enter, then it must allow women to enter too. “There is no concept of a private temple. If there is a temple then it is a public place and everyone is allowed to go there. If men can go there then women can also go,” he said during the hearing.

The CJI also opposed the Kerala government’s assertion that ceremonial rules pertaining to temples and method of worship are set by the temple and are protected under the right to worship, saying that a “temple cannot claim denominational rights.”

“Your right to worship as a woman at par with a man is not dependent on a legislation. It’s there in the Constitution. It’s there in article 25(1). Law facilitates equal right of worship by everyone,” he said.

Justice DY Chandrachud, who was part of the five-judge constitutional bench that was hearing the case, further said, “Every woman is also the creation of God and why should there be discrimination against them in employment or worship.”

The Supreme Court had in October last year formed the constitution bench to hear the case and it will decide four significant questions, primary among which is whether the ban amounts to discrimination against women.

The constitution bench also includes Justices Rohinton Fali Nariman, AM Khanwilkar and Indu Malhotra.

The petitioner – the Indian Young Lawyers Association – has challenged the 800-year-old practice of prohibiting the entry of women into the famed Lord Ayyappan Temple.

The PIL has sought direction to the Kerala government, the Travancore Devaswom Board, Chief Thanthri (priest) of Sabarimala Temple and the District Magistrate of Pathanamthitta to ensure entry of female devotees between the age group of 10-50.

Appearing for the petitioner, counsel Ravi Prakash Gupta told the court the restrictions on the entry of women in Sabarimala temple is not the essence of their religious affairs as discrimination on the entry of women in the temple is “neither a ritual nor a ceremony associated with Hindu religion”.

Gupta said: “Mere sight of a woman does not affect anybody’s celibacy, if one has take oath of it, otherwise such oath has no meaning.”

Filed Under: Women

Feminist’ Canada funds women to grow businesses: Minister

July 18, 2018 by Nasheman

A “feminist” Canada is investing nearly $2 billion Canadian dollars (about Rs 10,000 crores) as seed capital in businesses led by its women entrepreneurs, said a senior woman minister here.

Bardish Chagger. (File Photo: IANS)


“As Canada is committed to encouraging women to grow businesses, we have allocated nearly $2 billion in the fiscal 2018-19 budget for investing in businesses run by women entrepreneurs,” Canadian Small Business Minister Bardish Chagger told IANS in an interview here.

The Canadian government, led by Prime Minister Justin Trudeau, has also a women’s entrepreneurship strategy in the budget to assist women-led ventures to grow and help their nation prosper.

Though born and raised in Canada, Chagger, 38, is of Indian origin, as her parents are Indians, who migrated from Punjab in the 1970s and settled here.

The first woman leader of the government in the Canadian House of Commons as a Member of Parliament (MP) from Waterloo in Ontario, Chagger also holds the tourism portfolio since 2016.

Echoing Trudeau’s viewpoint that Canada cannot tap its potential full if half of its 36-million population was left behind, Chagger said her government was focused on investing in the people, especially refugees and immigrants who came from the world over for a better life in this country, bordering the US in the North.

“We are a feminist government that practices gender balance to empower all our people and gives them equal opportunities to grow,” said Chagger, a keynote speaker at the three-day Dell Women’s Entrepreneur Network (DWEN), organized by the American computer maker Dell Technologies here since Sunday.

As only 16 percent of Canadian businesses are owned or run by women, the Trudeau government is working on doubling it to 32 percent by 2025.

The Canadian government is focused equally on women to build a stronger economy without discriminating them as immigrants or refugees, said Chagger.

Referring to her Indian origins, Chagger said her Indian grandfather would not have imagined migrating to this country and his grand-daughter getting elected to become a Cabinet minister.

“But Canada stands for providing equal opportunities for everyone regardless of their origin and regions,” she said.

With more diversity under Trudeau’s leadership, lawmakers’ decisions ensure that voices of women, immigrants and other minorities are heard, she said.

“Unless one is indigenous, almost everyone is an immigrant in Canada. We have elected people on the Cabinet who came to Canada as refugees, those served in armed forces, etc. Canada has been a welcoming country and will continue to be for migrants from the world over,” Chagger said.

The Liberal Party’s Cabinet, touted as the “most diverse” globally, has Indian-origin Harjit Sajjan, the first Sikh to become Canada’s Defence Minister, and Carla Qualtrough, a former Paralympic athlete, as Minister of Public Services.

The 30-member Trudeau Cabinet has an equal number of men and women in it.

With 1.3-million (13 lakh) people of Indian origin, Canada is also looking for stronger ties with India, especially in trade and tourism.

“We have established links in February between Communitech, a hub for technology firms in Waterloo region, and the T-hub at Hyderabad in Telangana, to foster technology businesses in both regions. We are looking for more such opportunities in both countries,” Chagger said.

Canadian Parliament in Ottawa recognized Punjabi as the third most-spoken language, after English and French, said Chagger.

Canada is also investing in developing skills of people for the growth of its economy.

“We are working on lowering taxes on the middle class, which is the backbone of our economy. We want to give benefits to those who need them most and are asking the wealthy to forego them,” added Chagger.

Filed Under: Women

Never Blamed Congress, it was misquoted statement : H D Kumarswamy.

July 18, 2018 by Nasheman


Days after the BJP went after Karnataka Chief Minister H.D. Kumaraswamy, he denied on Tuesday that he had blamed the Congress or its leaders. He said he was misquoted on his statement about being not happy heading the coalition government in the state.

Speaking to the journalist he said “It was my party’s event and I got emotional. My remarks were misjudged. I didn’t say anything about Congress or any of its leaders,”

Kumaraswamy broke down at the party event on Saturday, expressing that he was “not happy” holding the top post and that he was gulping the agony like ‘Vishakantha’ (Lord Shiva) who drank poison, setting off a political slugfest.

The Chief Minister is on a two-day visit to the national capital beginning Tuesday, during which he is due to meet many Union ministers.

Filed Under: News & Politics

“Hindu Taliban” Jibe Riles BJP Amid “Hindu Pakistan” Row : Shashi Tharoor

July 18, 2018 by Nasheman


Senior Congress leader Shashi Tharoor, deep in controversy over his “Hindu Pakistan” remark, today fought back, asking if there was a “Taliban emerging within Hinduism now”. The former diplomat was expressing his outrage after the BJP and right-wing groups said he should be deported to Pakistan for his remark that India would become a “Hindu Pakistan” if the BJP returned to power in the 2019 Lok Sabha polls.
“They are telling me to go to Pakistan. Who has given them the right to decide that because I am not a Hindu like them, that’s why I can’t stay in this country? So is there a Taliban emerging within Hinduism now? We must ask our Hindu brothers and sisters if people can be allowed to speak with reference to our religion in this manner,” he said at a public meeting.

“As individuals, as politicians, as thinking people we are saying, BJP’s talks, BJP’s talks about Hindu Rashtra, is very dangerous. It can destroy our country,” he added.

The BJP was quick to react. Party spokesperson Sambit Patra tweeted:
Mr Tharoor triggered outrage among the BJP ranks last week after he said if the BJP wins in 2019, they will “tear up the Constitution of India and write a new one”. “That will enshrine the principle of Hindu Rashtra, will remove equality for minorities, that will create a Hindu Pakistan and that isn’t what Mahatma Gandhi, Nehru, Sardar Patel, Maulana Azad and great heroes of freedom struggle fought for,” he said.

As an outraged BJP demanded an apology from Congress chief Rahul Gandhi, Mr Tharoor’s Thiruvananthapuram office was targetted, allegedly by the local youth wing of the BJP. A court in Kolkata also summoned him on August 14 after a petition was filed.

Mr Tharoor said his statement has been misconstrued. The Hindu Rashtra envisaged by the BJP-RSS is a “mirror image of Pakistan,” he said, a state with a dominant majority religion that seeks to put its minorities in a subordinate place”.

Filed Under: News & Politics

ED names former IAF chief among 34 in AgustaWestland chargesheet

July 18, 2018 by Nasheman


The Enforcement Directorate (ED) on Wednesday filed a charge sheet in the Rs 3,600 crore AgustaWestland VVIP chopper deal against 34 individuals and foreign and Indian companies including former IAF chief S.P. Tyagi, his two cousins, advocate Gautam Khaitan and Italians Carlo Gerosa and Guido Haschke.

While filing the chargesheet under the Prevention of Money Laundering Act, the ED informed the magistrate that money was laundered through “multiple foreign companies”.

The court was told that “foreign companies were used as fronts to park alleged kickbacks”.

The ED chargesheet named the former IAF chief’s cousins Sanjeev Tyagi and Rajiv Tyagi along with Bruno Spagnolini, former CEO of AgustaWestland, and Giuseppe Orsi, the former chief of Italian defence and aerospace major Finmeccanica.

Others named in the chargesheet are Rajeev Saxena, Director of Dubia-based firm Matrix Holdings, his wife Shivani Saxena and advocate Gautam Khaitan’s wife Ritu Khaitan.

The chargesheet also names some Indian and foreign companies like Aeromatrix Info Solution Ltd, Windsor Group Holdings, Ismax International Ltd, Cricklewood Ltd, Long Lasting Ltd, Matrix Holding Pvt Ltd, UHY Saxena, Dubai Interstellar Technologies Ltd, O.P. Khaitan and Co International Mediterranean Consulting, Tunisia Infotech Design Systems, Gordian Services, Finmeccanica SPA and AgustaWestland.

The Central Bureau of Investigation (CBI) — the prime investigating agency — has already filed a chargesheet in the case.

On January 1, 2014, India cancelled the contract with Finmeccanica’s British subsidiary AgustaWestland for supplying 12 AW-101 VVIP choppers to the IAF, over alleged breach of contractual obligations and on charges of paying kickbacks amounting to Rs 423 crore.

The CBI, which registered an FIR on March 12, 2013, alleged that S.P. Tyagi, who was the IAF chief from 2004 to 2007, and the other accused received kickbacks from AgustaWestland to help it win the contract.

The FIR mentioned charges of criminal conspiracy, cheating and offences under the Prevention of Corruption Act.

According to the CBI, S.P. Tyagi allegedly took bribes of several crores from AgustaWestland through the middlemen — and a complex set of companies in several countries — to change the specifications of the contract.

The operational flight ceiling of the choppers was reduced from 6,000 metres, as originally proposed, to 4,500 metres and the cabin height was brought down to 1.8 metres.

The twin modifications were allegedly meant to rig the deal in favour of AgustaWestland, which eventually walked away with the order to supply the 12 choppers for the Communication Squadron of the IAF to ferry the President, the Prime Minister and other VVIPs.

The CBI probe revealed that several payments were made to S.P. Tyagi by middlemen Haschke, Gerosa and Christian Michel James, whose name was not mentioned in the ED chargesheet.

Filed Under: Crime

Kerala CM-led all-party delegation to meet Modi

July 18, 2018 by Nasheman


Kerala Chief Minister Pinarayi Vijayan will lead an all-party delegation that will meet Prime Minister Narendra Modi on Thursday and discuss various issues concerning the state.

The issues likely to be raised include increasing the state’s ration share, besides the much-delayed projects like Palakkad Coach Factory, Sabari rail line and also the after-effects in the event of implementation of the Kasturirangan report, Vijayan’s office told the media on Wednesday.

The delegation will include Leader of Opposition Ramesh Chennithala, state Congress chief M.M. Hassan, besides Kerala Ministers K. Ramachandran, G.Sudhakaran, and former state BJP chief P.K. Krishnadas, who will be joined by Lok Sabha MP E.T. Mohammed Basheer (IUML) and Rajya Sabha MP Jose K. Mani (Kerala Congress-Mani) from Delhi.

In June, Vijayan had expressed his strong displeasure at the manner in which his earlier requests to meet Modi were turned down.

The delegation will leave for Delhi later on Wednesday.

Filed Under: News & Politics

Hockey: India U-23 play out 1-1 draw vs Belgium

July 18, 2018 by Nasheman

 India’s U-23 men’s team were held to a 1-1 draw by Belgium in their third round robin match of the Five Nations Tournament here.

India had a mixed bag of results in their first two matches of the tournament as they beat Ireland 5-0 in their first match, but lost 1-3 to Great Britain in the second match.

However, a strong performance against the hosts was needed and the Indian forwards did not disappoint as they produced an attacking display in the first two quarters on Tuesday.

The junior team was rewarded for their constant pressure on Belgium when striker Mohammad Umar found space in the striking circle and put the ball into the back of the net at the stroke of half-time.

The third quarter, however, saw the hosts produce a quick reply to India taking the lead, as Syril Frying canceled out the lead in the 34th minute to level the scores.

Both the teams had their chances in the final quarter of the match, but neither could capitalise the chances and the match ended in a draw, which means that India will need to win their last round-robin match against the Netherlands on Friday to have a chance of qualifying for the Final match of the U-23 Five Nations Tournament.

Filed Under: Sports

Bengaluru city all set to receive five more outdoor stadiums

July 18, 2018 by Nasheman


To reduce the burden on the existing stadiums in Bengaluru, five more stadiums are coming up in the city. With this, the city will be having at least 13 outdoor stadiums. The new stadiums are being planned in Devanahalli in North Bengaluru, Gunjur in East Bengaluru, HSR Layout in South Bengaluru, Tavarakere in West Bengaluru and Anjanapura in South Bengaluru near JP Nagar.

“The Kanteerava stadium, which is in the heart of the city, is overburdened. We want to encourage more sports activities, so we have chosen four locations across Bengaluru. With these coming up, sports organizers in these four regions of the city can organize sporting events in their respective areas, so that the traveling time is reduced,’’ N Shivashankara, Commissioner, Youth Empowerment, and Sports told TNIE.

These will be multi-purpose stadiums with facilities for athletic tracks, javelin, discus, volleyball and basketball. According to Shivashankara, they need a minimum of 10 acres for each stadium. “We got funds in the recent state budget. We are soon going to get a Detailed Project Report and tenders will be called. Once the tenders are finalized, we need six months to one year to complete the stadiums. We are hoping that the entire process will be completed within a year,’’ he said.

The Anjanapura stadium will be developed by Bruhat BBMP. “We have identified 35 acres of land belonging to the state government at Anjanpura near JP Nagar in South Bengaluru. It will be mainly for cricket. There is no cricket stadium this side, so we want to have one here that will help local people, especially the youngsters,’’ a BBMP official said.

Bengaluru has eight stadiums at present, including Chinnaswamy Stadium and Alur Stadium. Both are maintained by Karnataka State Cricket Association. Five more stadiums, including Kanteerva stadium (multi-purpose stadium), Hockey Stadium, Bengaluru Football Stadium and Jayaprakash Narayan National Youth Centre at Vidhyanagar on Airport Road, are maintained by the state sports department. Kittur Rani Chennamma sports stadium (multi-purpose) is owned by the BBMP.

Filed Under: News & Politics

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