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Former Bishop Franco Mulakkal, accused in the Kerala nun rape case, was brought to the Crime Branch (CID) office in Kochi earlier today, news agency ANI reported. Mulakkal will be interrogated by a 5-member team for the third day today.&nbsp;

Once the interrogation is completed, the authorities will decide further on Mulakkal's arrest.

"After interrogation, we will decide whether to go forward with his arrest or not. I can't say if the arrest will be made today," Kottayam SP Harisankar noted.&nbsp;

Jalandhar Bishop Franco Mulakkal was interrogated by a special five-member investigation team of the Kerala police led by Vaikom Deputy SP K Subhash on Wednesday.&nbsp;

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Kerala: Rape accused ex-Bishop Franco Mulakkal has been brought to Crime Branch (CID) office in Kochi where he will be interrogated by a 5-member team for the third day today. <a href="https://t.co/xhAOtaqg9v">pic.twitter.com/xhAOtaqg9v</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1043005159058464771?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
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He appeared before a Special Investigation Team (SIT) of the Kerala police for the <a href="http://wionews.com/india-news/rape-accused-bishop-being-questioned-for-second-day-166815">second day on Thursday</a>.

Bishop Franco Mulakkal, on Thursday, was grilled for more than eight hours by Kerala police over allegations of rape and unnatural sex levelled by a nun and he will be questioned for a third straight day tomorrow, police said.

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After interrogation, we will decide whether to go forward with his arrest or not. I can't say if the arrest will be made today: Kottayam SP Harisankar on Kerela nun rape accused Franco Mulakkal <a href="https://t.co/cBZRBBexi7">pic.twitter.com/cBZRBBexi7</a>
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The Vatican has, meanwhile, divested Mulakkal, who was the bishop of the Jalandhar diocese of Missionaries of Jesus despite shedding his administrative role, of his pastoral responsibilities "temporarily", the Catholic Bishops' Conference of India (CBCI) said.

"We had decided to complete the interrogation today. But it could not be completed even after 7:30 pm. Verification is required in matters so far placed before the investigation team and that will be completed by tomorrow morning.

(With inputs from agencies)&nbsp;

Former Bishop Franco Mulakkal, accused in the Kerala nun rape case, was brought to the Crime Branch (CID) office in Kochi earlier today, news agency ANI reported.

Former Bishop Franco Mulakkal, accused in the Kerala nun rape case, was brought to the Crime Branch (CID) office in Kochi earlier today, news agency ANI reported. Mulakkal will be interrogated by a 5-member team for the third day today. Once the interrogation is completed, the authorities will decide further on Mulakkal's arrest. "After interrogation, we will decide whether to go forward with his arrest or not. I can't say if the arrest will be made today," Kottayam SP Harisankar noted. Jalandhar Bishop Franco Mulakkal was interrogated by a special five-member investigation team of the Kerala police led by Vaikom Deputy SP K Subhash on Wednesday. Kerala: Rape accused ex-Bishop Franco Mulakkal has been brought to Crime Branch (CID) office in Kochi where he will be interrogated by a 5-member team for the third day today. pic.twitter.com/xhAOtaqg9v — ANI (@ANI) September 21, 2018 × He appeared before a Special Investigation Team (SIT) of the Kerala police for the second day on Thursday. Bishop Franco Mulakkal, on Thursday, was grilled for more than eight hours by Kerala police over allegations of rape and unnatural sex levelled by a nun and he will be questioned for a third straight day tomorrow, police said. After interrogation, we will decide whether to go forward with his arrest or not. I can't say if the arrest will be made today: Kottayam SP Harisankar on Kerela nun rape accused Franco Mulakkal pic.twitter.com/cBZRBBexi7 — ANI (@ANI) September 21, 2018 × The Vatican has, meanwhile, divested Mulakkal, who was the bishop of the Jalandhar diocese of Missionaries of Jesus despite shedding his administrative role, of his pastoral responsibilities "temporarily", the Catholic Bishops' Conference of India (CBCI) said. "We had decided to complete the interrogation today. But it could not be completed even after 7:30 pm. Verification is required in matters so far placed before the investigation team and that will be completed by tomorrow morning. (With inputs from agencies)

Kerala nun rape case: Accused Bishop Mulakkal being questioned for third day

Disagreements between Hindustan Aeronautics Limited (HAL) and Dassault Aviation led to the collapse of negotiations between the two in the Rafale fighter plane deal during the UPA term.

According to Defence sources, HAL in a letter to Ministry of Defence (MoD) in 2012 mentioned the differences with Dassault pertaining to work share.

In July 2014, HAL in a subsequent letter to MoD also highlighted one major unresolved issue regarding responsibility sharing between Dassault and HAL for license manufacture of aircraft. Besides, the man hours required for the manufacture of various components of the aircraft in HAL was also a point of disagreement between the two.

"Due to all these reasons the proposals for 126 MMRCA could not progress further," sources said. 
 
According to a media report, T. Suvarna Raju, former chairman and managaing director (CMD), claimed that Dassault and HAL had signed the mutual workshare contract and given it to the government. He further said that the life-cycle costs of the aircraft would have been cheaper if the aircraft were made in India.

Responding to this, sources said that since the workshare between Dassault and HAL was never agreed upon, reports claiming the lower life-cycle cost of the planes, was completely "presumptive" and termed the media report based on HAL ex-CMD statement as "factually incorrect".

The opposition parties have been blaming NDA Government for not taking on board HAL in the Rafale deal and questioned Dassault's tie-up with Reliance Group under the off-set clause.&nbsp;

Disagreements between Hindustan Aeronautics Limited (HAL) and Dassault Aviation led to the collapse of negotiations between the two in the Rafale fighter plane deal during the UPA term.

Disagreements between Hindustan Aeronautics Limited (HAL) and Dassault Aviation led to the collapse of negotiations between the two in the Rafale fighter plane deal during the UPA term. According to Defence sources, HAL in a letter to Ministry of Defence (MoD) in 2012 mentioned the differences with Dassault pertaining to work share. In July 2014, HAL in a subsequent letter to MoD also highlighted one major unresolved issue regarding responsibility sharing between Dassault and HAL for license manufacture of aircraft. Besides, the man hours required for the manufacture of various components of the aircraft in HAL was also a point of disagreement between the two. "Due to all these reasons the proposals for 126 MMRCA could not progress further," sources said. According to a media report, T. Suvarna Raju, former chairman and managaing director (CMD), claimed that Dassault and HAL had signed the mutual workshare contract and given it to the government. He further said that the life-cycle costs of the aircraft would have been cheaper if the aircraft were made in India. Responding to this, sources said that since the workshare between Dassault and HAL was never agreed upon, reports claiming the lower life-cycle cost of the planes, was completely "presumptive" and termed the media report based on HAL ex-CMD statement as "factually incorrect". The opposition parties have been blaming NDA Government for not taking on board HAL in the Rafale deal and questioned Dassault's tie-up with Reliance Group under the off-set clause.

Rafale deal: Differences between HAL, Dassault led to collapse of talks, say report

Fugitive jeweller Mehul Choksi, a co-accused in the Punjab National Bank fraud case, on Friday moved the special CBI court here for cancellation of a non-bailable warrant against him claiming he has reasons to believe that his return to India might endanger his life.

On May 22 this year, after taking cognisance of the second charge sheet filed in the Rs 12,636-crore PNB fraud case by the CBI, the special court had issued the NBW against Choksi.

Choksi, in an application filed Friday through his lawyer Sanjay Abbott, said his apprehensions over his safety are based upon what transpired during a recent television debate on the fraud.

He told the court that he was "shocked" to watch a debate on a national television news channel where two callers phoned in to share their opinion on the fraud.

The callers, Choksi claimed in the plea, "suggested that a special team be formed to track Mehul Choksi down and shoot him to death once he was brought back to India".

Choksi claimed that the callers said that such treatment would send out a strong message to society and prevent further cases of frauds and fiscal scams.

The fugitive jeweller also claimed that the news anchor concerned and the panelists did not object to the comments made by the caller. Instead, the anchor even laughed at the comments and the same makes it apparent that the anchor and the panelists too "tacitly" agreed with what the callers suggested, Choksi said in the plea.

"From the above two calls made by the callers and the tacit approval given to the same by the news anchor and the panelists, it is clear that the averments made by the applicant (Choksi) in the application filed before this court regarding a threat to his life and the fear of mob lynching are vindicated," the application read.

Choksi also sent some audio and video CDs claiming that they contained the cited footage from the news channel debate.

He has urged the court to make his submission a part of the court records and, in light of the same, to cancel the NBW issued against him.

The special court has now directed the Central Bureau of Investigation to file its reply to the application by October 3 this year, which is the next date of hearing in the case.

This is the second such application filed by Choksi before the special court, claiming a threat to his life and seeking that the NBW be cancelled.

Fugitive jeweller Mehul Choksi, a co-accused in the Punjab National Bank fraud case, on Friday moved the special CBI court here for cancellation of a non-bailable warrant against him claiming he has reasons to believe that his return to India might endanger his life.

Fugitive jeweller Mehul Choksi, a co-accused in the Punjab National Bank fraud case, on Friday moved the special CBI court here for cancellation of a non-bailable warrant against him claiming he has reasons to believe that his return to India might endanger his life. On May 22 this year, after taking cognisance of the second charge sheet filed in the Rs 12,636-crore PNB fraud case by the CBI, the special court had issued the NBW against Choksi. Choksi, in an application filed Friday through his lawyer Sanjay Abbott, said his apprehensions over his safety are based upon what transpired during a recent television debate on the fraud. He told the court that he was "shocked" to watch a debate on a national television news channel where two callers phoned in to share their opinion on the fraud. The callers, Choksi claimed in the plea, "suggested that a special team be formed to track Mehul Choksi down and shoot him to death once he was brought back to India". Choksi claimed that the callers said that such treatment would send out a strong message to society and prevent further cases of frauds and fiscal scams. The fugitive jeweller also claimed that the news anchor concerned and the panelists did not object to the comments made by the caller. Instead, the anchor even laughed at the comments and the same makes it apparent that the anchor and the panelists too "tacitly" agreed with what the callers suggested, Choksi said in the plea. "From the above two calls made by the callers and the tacit approval given to the same by the news anchor and the panelists, it is clear that the averments made by the applicant (Choksi) in the application filed before this court regarding a threat to his life and the fear of mob lynching are vindicated," the application read. Choksi also sent some audio and video CDs claiming that they contained the cited footage from the news channel debate. He has urged the court to make his submission a part of the court records and, in light of the same, to cancel the NBW issued against him. The special court has now directed the Central Bureau of Investigation to file its reply to the application by October 3 this year, which is the next date of hearing in the case. This is the second such application filed by Choksi before the special court, claiming a threat to his life and seeking that the NBW be cancelled.

PNB fraud: Mehul Choksi cites TV debate phone-in in plea to get NBW cancelled

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Bishop Franco Mulakkal, accused by a nun of raping and sexually assaulting her, has been arrested, said&nbsp;Kottayam SP Hari Sankar

"On basis of the evidence collected so far and interrogation that continued for 3 days, we have arrested Bishop Frankkol at 8 pm today. Subsequent investigation will continue,'' Sankar said.

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Kerala nun rape case: Kottayam SP Hari Sankar says, "On basis of the evidence collected so far &amp; interrogation that continued for 3 days,we arrested Bishop Frankkol at 8 pm today. Subsequent investigation will continue.He'll be produced before a magistrate court tomorrow morning" <a href="https://t.co/ruvGTnldEI">pic.twitter.com/ruvGTnldEI</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1043165539538010113?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
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Kochi: Accused Franco Mulakkal arrested in Kerala nun rape case; <a href="https://twitter.com/hashtag/visuals?src=hash&amp;ref_src=twsrc%5Etfw">#visuals</a> from government hospital in Tripunithura <a href="https://t.co/FMCMbrGNtI">pic.twitter.com/FMCMbrGNtI</a>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1043178232282005504?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
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Bishop Mulakkal will be&nbsp;produced before a magistrate court tomorrow morning, he added.

"The investigating officer in the nun rape case has found that the bishop has committed the crime," Sankar told journalists earlier.

Pope Francis on Thursday "temporarily" relieved Mulakkal of pastoral responsibilities as the bishop of the Jalandhar diocese.&nbsp;

He has been accused by the nun of repeatedly raping and sexually assaulting her between 2014 and 2016.&nbsp;

Bishop Franco Mulakkal, accused by a nun of raping and sexually assaulting her, has been arrested, said Kottayam SP Hari Sankar "On basis of the evidence collected so far and interrogation that continued for 3 days, we have arrested Bishop Frankkol at 8 pm today.

Bishop Franco Mulakkal, accused by a nun of raping and sexually assaulting her, has been arrested, said Kottayam SP Hari Sankar "On basis of the evidence collected so far and interrogation that continued for 3 days, we have arrested Bishop Frankkol at 8 pm today. Subsequent investigation will continue,'' Sankar said. Kerala nun rape case: Kottayam SP Hari Sankar says, "On basis of the evidence collected so far & interrogation that continued for 3 days,we arrested Bishop Frankkol at 8 pm today. Subsequent investigation will continue.He'll be produced before a magistrate court tomorrow morning" pic.twitter.com/ruvGTnldEI — ANI (@ANI) September 21, 2018 × Kochi: Accused Franco Mulakkal arrested in Kerala nun rape case; #visuals from government hospital in Tripunithura pic.twitter.com/FMCMbrGNtI — ANI (@ANI) September 21, 2018 × Bishop Mulakkal will be produced before a magistrate court tomorrow morning, he added. "The investigating officer in the nun rape case has found that the bishop has committed the crime," Sankar told journalists earlier. Pope Francis on Thursday "temporarily" relieved Mulakkal of pastoral responsibilities as the bishop of the Jalandhar diocese. He has been accused by the nun of repeatedly raping and sexually assaulting her between 2014 and 2016.

Kerala nun rape case: Bishop Franco Mulakkal arrested

Vice President M&nbsp;Venkaiah Naidu on Thursday hailed the contribution of the Indian diaspora in Romania, saying they are playing a key role in promoting Indian values in the country.

Addressing a group of the Indian community here, Vice President Naidu said, "Each one of you has become a part of Romania's unique fabric and its progress. There is a strong interest in Romania about Indian culture. All of you are playing important role in promoting Indian values."

The Vice President added that the Indian diaspora is acting as a bridge between the two countries to facilitate people-to-people ties.

He stated, "You have become a bridge between 2 countries and our people. The way of life, tradition, food, Ayurveda and yoga are playing a valuable contribution to our people-to-people ties between India and Romania."

Stressing on the bilateral relations, Vice President Naidu said that the ties have been warm, cordial and multi-faceted and that the common values of democracy, rule of law, freedom and economic complementarities make the two countries as natural partners.

Underlining the importance of his visit to the European country, the Vice President said, "This visit is a milestone due to the 70 years of the establishment of diplomatic ties between India and Romania and it also overlaps the centenary year of Romania, which is being celebrated with fervour."

Vice President Naidu further informed the community of the reforms taken by the Indian government in the last four years to give a new purpose and clarity of vision for inclusive development and setting new standards of governance in the country.

He elucidated, "We are working towards becoming a five trillion dollar economy by 2025. India has been ranked third in World Economic Forum list of most trusted governments. India has climbed 42 places in ease of doing business rankings last year. The digitalisation of economy and taxation reforms like Goods and Services Tax (GST), which is a transformational revolutionary taxation system we have adopted. There were some hiccups initially, but GST is now doing wonders. Government's revenue is increasing and it is being used for spending on development and welfare of the people."

Vice President Naidu underscored that the establishment of business companies by India and Romania and their investment and employment opportunities are contributing to socio-economic progress between the two nations.

Delving into the key measures taken by the government to improve the diaspora outreach, the Vice President said, "We have taken steps to enhance your role in connecting and developing your ties with us. We have taken key measures to eliminate barriers of your connect with India so that our government are connected to you at all times. The world's engagements with India is at a new level. The entire world is keen on India's growth story and happenings in the country. We are a diverse country and people, irrespective of caste or religion are living together harmoniously."

He added that the Indian community is not only cultural ambassadors but also playing a key role in influencing the policies of the government.

Vice President Naidu pledged to the diaspora to follow the rules and regulations of one's country, but not to forget the cultural ethos. He said that Prime Minister Narendra Modi has initiated several programmes such as Clean India, Skill India, Start-up India, demonetisation and GST to change the mindset of the people.

Vice President Naidu went on to say that if the current growth rate is maintained, then a New India, that is free from hunger, corruption, fear and poverty would be realised in the next five to ten years.

After the address, Vice President Naidu then emplaned for India after completing a week-long visit to Serbia, Malta and Romania, in an effort to strengthen bilateral cooperation with these countries. He is scheduled to reach New Delhi on Friday morning.&nbsp;

Vice President M Venkaiah Naidu on Thursday hailed the contribution of the Indian diaspora in Romania, saying they are playing a key role in promoting Indian values in the country.

Vice President M Venkaiah Naidu on Thursday hailed the contribution of the Indian diaspora in Romania, saying they are playing a key role in promoting Indian values in the country. Addressing a group of the Indian community here, Vice President Naidu said, "Each one of you has become a part of Romania's unique fabric and its progress. There is a strong interest in Romania about Indian culture. All of you are playing important role in promoting Indian values." The Vice President added that the Indian diaspora is acting as a bridge between the two countries to facilitate people-to-people ties. He stated, "You have become a bridge between 2 countries and our people. The way of life, tradition, food, Ayurveda and yoga are playing a valuable contribution to our people-to-people ties between India and Romania." Stressing on the bilateral relations, Vice President Naidu said that the ties have been warm, cordial and multi-faceted and that the common values of democracy, rule of law, freedom and economic complementarities make the two countries as natural partners. Underlining the importance of his visit to the European country, the Vice President said, "This visit is a milestone due to the 70 years of the establishment of diplomatic ties between India and Romania and it also overlaps the centenary year of Romania, which is being celebrated with fervour." Vice President Naidu further informed the community of the reforms taken by the Indian government in the last four years to give a new purpose and clarity of vision for inclusive development and setting new standards of governance in the country. He elucidated, "We are working towards becoming a five trillion dollar economy by 2025. India has been ranked third in World Economic Forum list of most trusted governments. India has climbed 42 places in ease of doing business rankings last year. The digitalisation of economy and taxation reforms like Goods and Services Tax (GST), which is a transformational revolutionary taxation system we have adopted. There were some hiccups initially, but GST is now doing wonders. Government's revenue is increasing and it is being used for spending on development and welfare of the people." Vice President Naidu underscored that the establishment of business companies by India and Romania and their investment and employment opportunities are contributing to socio-economic progress between the two nations. Delving into the key measures taken by the government to improve the diaspora outreach, the Vice President said, "We have taken steps to enhance your role in connecting and developing your ties with us. We have taken key measures to eliminate barriers of your connect with India so that our government are connected to you at all times. The world's engagements with India is at a new level. The entire world is keen on India's growth story and happenings in the country. We are a diverse country and people, irrespective of caste or religion are living together harmoniously." He added that the Indian community is not only cultural ambassadors but also playing a key role in influencing the policies of the government. Vice President Naidu pledged to the diaspora to follow the rules and regulations of one's country, but not to forget the cultural ethos. He said that Prime Minister Narendra Modi has initiated several programmes such as Clean India, Skill India, Start-up India, demonetisation and GST to change the mindset of the people. Vice President Naidu went on to say that if the current growth rate is maintained, then a New India, that is free from hunger, corruption, fear and poverty would be realised in the next five to ten years. After the address, Vice President Naidu then emplaned for India after completing a week-long visit to Serbia, Malta and Romania, in an effort to strengthen bilateral cooperation with these countries. He is scheduled to reach New Delhi on Friday morning.

Indian diaspora helping to promote values in Romania: Naidu

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding.

In a statement, Jet Airways spokesperson said, "Jet Airways is extending full cooperation to the DGCA for the ongoing investigation of the event. Jet Airways regrets the inconvenience caused to its guests."

Meanwhile, the spokesperson also informed that the Jet Airways would continue to offer necessary medical care and attention to the concerned guests as required.

"Five guests who were referred to a hospital for additional medical check-up accompanied by the Jet Airways' Care team have since been released, post medical examination. The airline will continue to offer necessary medical care and attention to the concerned guests as required," the statement reads.

He added, "Following the air-turn back of Jet Airways' flight 9W 697 of 20th September 2018; 144 of the 166 guests of the original flight travelled to Jaipur via an alternative flight of the airline, while 17 of them wished to travel at another point in time."

This comes after a Jaipur-bound flight was turned back to Mumbai on Wednesday after several passengers suffered ear pain and nose-bleeds, during take-off due to a loss in cabin air pressure.

Subsequently, oxygen masks were deployed for the passengers on board.

The Mumbai-Jaipur flight with 166 passengers and five crew members on board landed safely in Mumbai and all the passengers were deplaned. Of the 166 people who were on board, 30 were affected and have been given treatment.

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding.

Jet Airways has said that they are extending full cooperation to the Directorate General of Civil Aviation (DGCA) in the investigation into the matter where a Jaipur-bound flight of the airline was forced to return to Mumbai after several passengers suffered nasal and ear bleeding. In a statement, Jet Airways spokesperson said, "Jet Airways is extending full cooperation to the DGCA for the ongoing investigation of the event. Jet Airways regrets the inconvenience caused to its guests." Meanwhile, the spokesperson also informed that the Jet Airways would continue to offer necessary medical care and attention to the concerned guests as required. "Five guests who were referred to a hospital for additional medical check-up accompanied by the Jet Airways' Care team have since been released, post medical examination. The airline will continue to offer necessary medical care and attention to the concerned guests as required," the statement reads. He added, "Following the air-turn back of Jet Airways' flight 9W 697 of 20th September 2018; 144 of the 166 guests of the original flight travelled to Jaipur via an alternative flight of the airline, while 17 of them wished to travel at another point in time." This comes after a Jaipur-bound flight was turned back to Mumbai on Wednesday after several passengers suffered ear pain and nose-bleeds, during take-off due to a loss in cabin air pressure. Subsequently, oxygen masks were deployed for the passengers on board. The Mumbai-Jaipur flight with 166 passengers and five crew members on board landed safely in Mumbai and all the passengers were deplaned. Of the 166 people who were on board, 30 were affected and have been given treatment.

Mid-air scare: Jet Airways extends full cooperation to DGCA over probe

A day after Prime Minister Narendra Modi said India will become a USD 5 trillion economy by 2022, the World Bank board Friday endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth.

Aimed at supporting India's transition to a higher middle-income country by addressing some of its key development priorities -- resource efficient and inclusive growth, job creation and building its human capital -- the framework is expected to bring between USD 25-30 billion in financial support from the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).

"With a fast-growing economy, global stature, and its unique experience of lifting the highest number of poor out of poverty in the past decades, India is well-positioned to become a high middle-income country by 2030," said Hartwig Schafer, World Bank South Asia vice president.

"It's a five-year framework that commits the Bank's engagement in India, both in areas where what we'll do, how we will work in these areas and the level of financial commitment. This is the first country partnership framework written with India," Junaid Ahmad, Country Director, World Bank, India, told PTI in an exclusive interview.

"The CPF was preceded by a systematic country diagnostic or SCD that offered a narrative about India. What are the challenges going forward in terms of the growth of India? And what are the challenges that India faces in achieving the twin goals that the World Bank has put for itself, which is a reduction in extreme poverty and the increase in shared prosperity," Ahmad said.

Soon after the World Bank endorsed the CPF for India, Ahmad said, the Board recognises the incredible growth and development of India over the last several decades.&nbsp;

"It recognizes that India has gone from a low-income country status to a low-middle income. And now India is entering the economic transformation from low-middle income to high-middle income (country). This CPS is about how can the Bank support this transition," he said.

Noting that both the SCD is a highly consultative document, Ahmad said, the CPF is a joint document with the Indian government.&nbsp;

"I compliment the World Bank Group for aligning the CPF with India's development and investment objectives of high, sustainable and inclusive growth," said Subhash Chandra Garg, Economic Affairs Secretary, in a statement.

Observing that the SCD basically said India's big story is steady growth from very low several decades back to a steady growth of seven per cent plus, Ahmad said, this document also showed that the growth is quite diversified. "Some of it is based on export. A lot of it is based on an internal consumption and investment, unlike say China, which is highly export-led growth. So India's is more broad-based, diversified growth path," he said.

"Over time, this growth has become more stable and is resilient. Recently there were shocks on the economy, which included demonetisation and the GST implementation and there was this fall in the growth. But it is now rebounded, and not only has it gone back to seven per cent, this quarter it is at eight per cent," Ahmad said.

Based on the SCD goal of taking the Indian growth rate to eight per cent plus, the World Bank argued that there were several areas of engagement that were very important: natural resource management, jobs and competitiveness, and human development, he said, adding that the framework addresses these issues.

"The first point we make is India needs to unleash the power of markets and the private sector. It needs to leverage the private sector and in particular private capital. The challenge for the Bank is how do you take the little amount of money ultimately you're putting into the country and you go from being a lending bank to being a leveraging bank," Ahmad said.

He said complementing transformational national programs, the Bank will also develop strategic state partnerships to address state-specific development priorities and support implementation capabilities at the state and the local level.

"The future of India lies in the states of India. The country's transition to high middle-income status will be determined in large part by the effectiveness of India's federal compact. In this context, an important focus of the CPF will be to deepen engagement with India's states and invest in the institutions and capabilities of the states and local governments to address their development priorities," Ahmad said.

He said the Bank was going for a "Lighthouse India" approach. "Lighthouse India basically means learning from the innovation of the states and sharing with other states.

We also recognise that the learning is what India also has to offer the rest of the world. As it goes from low-income to middle-income to high-middle-income, its learning over its development path is going to be very valuable for other nations," he said.

"The Indian economy has evolved to a level where the private sector can be counted on to close large developmental gaps. Through this the CPF, the WBG will help India leverage additional resources from the private sector to help India realize its full potential," said Jun Zhang, Country Head, IFC, India.

A day after Prime Minister Narendra Modi said India will become a USD 5 trillion economy by 2022, the World Bank board Friday endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth.

A day after Prime Minister Narendra Modi said India will become a USD 5 trillion economy by 2022, the World Bank board Friday endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth. Aimed at supporting India's transition to a higher middle-income country by addressing some of its key development priorities -- resource efficient and inclusive growth, job creation and building its human capital -- the framework is expected to bring between USD 25-30 billion in financial support from the International Bank for Reconstruction and Development (IBRD), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). "With a fast-growing economy, global stature, and its unique experience of lifting the highest number of poor out of poverty in the past decades, India is well-positioned to become a high middle-income country by 2030," said Hartwig Schafer, World Bank South Asia vice president. "It's a five-year framework that commits the Bank's engagement in India, both in areas where what we'll do, how we will work in these areas and the level of financial commitment. This is the first country partnership framework written with India," Junaid Ahmad, Country Director, World Bank, India, told PTI in an exclusive interview. "The CPF was preceded by a systematic country diagnostic or SCD that offered a narrative about India. What are the challenges going forward in terms of the growth of India? And what are the challenges that India faces in achieving the twin goals that the World Bank has put for itself, which is a reduction in extreme poverty and the increase in shared prosperity," Ahmad said. Soon after the World Bank endorsed the CPF for India, Ahmad said, the Board recognises the incredible growth and development of India over the last several decades. "It recognizes that India has gone from a low-income country status to a low-middle income. And now India is entering the economic transformation from low-middle income to high-middle income (country). This CPS is about how can the Bank support this transition," he said. Noting that both the SCD is a highly consultative document, Ahmad said, the CPF is a joint document with the Indian government. "I compliment the World Bank Group for aligning the CPF with India's development and investment objectives of high, sustainable and inclusive growth," said Subhash Chandra Garg, Economic Affairs Secretary, in a statement. Observing that the SCD basically said India's big story is steady growth from very low several decades back to a steady growth of seven per cent plus, Ahmad said, this document also showed that the growth is quite diversified. "Some of it is based on export. A lot of it is based on an internal consumption and investment, unlike say China, which is highly export-led growth. So India's is more broad-based, diversified growth path," he said. "Over time, this growth has become more stable and is resilient. Recently there were shocks on the economy, which included demonetisation and the GST implementation and there was this fall in the growth. But it is now rebounded, and not only has it gone back to seven per cent, this quarter it is at eight per cent," Ahmad said. Based on the SCD goal of taking the Indian growth rate to eight per cent plus, the World Bank argued that there were several areas of engagement that were very important: natural resource management, jobs and competitiveness, and human development, he said, adding that the framework addresses these issues. "The first point we make is India needs to unleash the power of markets and the private sector. It needs to leverage the private sector and in particular private capital. The challenge for the Bank is how do you take the little amount of money ultimately you're putting into the country and you go from being a lending bank to being a leveraging bank," Ahmad said. He said complementing transformational national programs, the Bank will also develop strategic state partnerships to address state-specific development priorities and support implementation capabilities at the state and the local level. "The future of India lies in the states of India. The country's transition to high middle-income status will be determined in large part by the effectiveness of India's federal compact. In this context, an important focus of the CPF will be to deepen engagement with India's states and invest in the institutions and capabilities of the states and local governments to address their development priorities," Ahmad said. He said the Bank was going for a "Lighthouse India" approach. "Lighthouse India basically means learning from the innovation of the states and sharing with other states. We also recognise that the learning is what India also has to offer the rest of the world. As it goes from low-income to middle-income to high-middle-income, its learning over its development path is going to be very valuable for other nations," he said. "The Indian economy has evolved to a level where the private sector can be counted on to close large developmental gaps. Through this the CPF, the WBG will help India leverage additional resources from the private sector to help India realize its full potential," said Jun Zhang, Country Head, IFC, India.

World Bank endorses plan for India to transition to higher middle-income country

Prime Ministerial residence post-independence, Nehru Memorial Museum Library (NMML) was converted into a museum. It also houses a library besides offering fellowship. NMML is also building a separate museum for the former prime ministers which has run into trouble. Former Prime Minister Manmohan Singh even shot off a letter saying that NMML should solely be dedicated to the legacy of India’s first Prime Minister Jawaharlal Nehru. WION spoke to Shakti Sinha, director of NMML.&nbsp;

WION: What is the idea behind a museum dedicated to other Prime Ministers?

Shakti Sinha: Prime Ministers have played a very important role in India’s democratic story. &nbsp;The idea was to put all that in one place which has taken place in the last 70 years. This will allow people to come and study various aspects of different prime ministers and their contribution. It will also show the way the prime minister’s office has evolved. It will be a one-stop place for Indian citizens to know about the prime ministers.

WION:&nbsp;Do you think that contributions made by non-Nehru and Gandhi family prime ministers have been ignored?

Shakti Sinha: The city has Nehru and Indira Gandhi memorials but one wants to know something about Lal Bahadur Shastri as the relevant material is not available. Today you do not have a dedicated place to learn about Prime ministers like Morarji Desai, Charan Singh and Narasimha Rao. How many people know about Deve Gowda? Public reference of Shastri is limited to the war and Tashkent. There is no knowledge of his contribution made in the public domain. Even India’s first non-Congress Prime Minister Morarji Desai is completely forgotten. &nbsp;

WION:&nbsp;Manmohan Singh has a written a letter that the primary focus of the institution should remain on Nehru. Your comments?

Shakti Sinha: I have got great regards for Manmohan Singh but the fact of the matter is that in the museum there is nothing about Jawaharlal Nehru as the PM. Nothing. Only two photographs post-independence. Otherwise, it is a very fine museum on the Indian freedom struggle. It covers different aspects and phases of the freedom struggle beautifully. Even the library is diverse in its nature. It has private papers of 400 individuals including Rajaji and Shyama Prasad Mukherjee. We also have papers from Congress, Hindu Mahasabha and Muslim League. The library and museum are not predominantly about Nehru in any case. If someone is saying that today this museum and library is only about Nehru then they are misplaced.

WION:&nbsp;Where are you making this separate museum?

Shakti Sinha: We are going through the process of a design competition. There is a place behind the existing structure. Rest of the place is full of trees and we would not like to bring them down.

WION:&nbsp;Was this institution able to evolve after its inception?

Shakti Sinha: Yes, it did. This institution is very well known internationally. Our biggest strength is our documentation. For scholars of the world, if they are writing on contemporary India then, NMML is the place. The library has grown in the last three years. Museum has not changed. We are upgrading it. We are bringing more of Nehru in the museum now. We bringing aspects of Nehru which were absent earlier.

&nbsp;WION:&nbsp;Was this institution closed to other ideologies?

Shakti Sinha: The management of ideology can only happen by selecting exhibitions are granting fellowship. There is nothing you can do in the museum. I know people will accuse me of taking sides but I have tried my best to get people from all sides.

WION:&nbsp;Is this a reflection of heated ideological war which has become part of our political discourse?

Shakti Sinha: I would think so. This is the reason why many people are attacking us without knowing as to what we have done and we have been doing. We are actually bringing back Nehru into the museum.

&nbsp;WION:&nbsp;You are being accused of diluting Nehru’s legacy?

Shakti Sinha: I feel sad about it because people have not bothered to find what work we have done.

&nbsp;WION:&nbsp;Will the basic nature of the institution remain unchanged or will it change with time?

Shakti Sinha: No living institution remain unchanged. Institutions must take up new challenges and must not react but proactively engage and change with time. Academic platforms like NMML must be part of the change.

Prime Ministerial residence post-independence, Nehru Memorial Museum Library (NMML) was converted into a museum. It also houses a library besides offering fellowship.

Prime Ministerial residence post-independence, Nehru Memorial Museum Library (NMML) was converted into a museum. It also houses a library besides offering fellowship. NMML is also building a separate museum for the former prime ministers which has run into trouble. Former Prime Minister Manmohan Singh even shot off a letter saying that NMML should solely be dedicated to the legacy of India’s first Prime Minister Jawaharlal Nehru. WION spoke to Shakti Sinha, director of NMML. WION: What is the idea behind a museum dedicated to other Prime Ministers? Shakti Sinha: Prime Ministers have played a very important role in India’s democratic story. The idea was to put all that in one place which has taken place in the last 70 years. This will allow people to come and study various aspects of different prime ministers and their contribution. It will also show the way the prime minister’s office has evolved. It will be a one-stop place for Indian citizens to know about the prime ministers. WION: Do you think that contributions made by non-Nehru and Gandhi family prime ministers have been ignored? Shakti Sinha: The city has Nehru and Indira Gandhi memorials but one wants to know something about Lal Bahadur Shastri as the relevant material is not available. Today you do not have a dedicated place to learn about Prime ministers like Morarji Desai, Charan Singh and Narasimha Rao. How many people know about Deve Gowda? Public reference of Shastri is limited to the war and Tashkent. There is no knowledge of his contribution made in the public domain. Even India’s first non-Congress Prime Minister Morarji Desai is completely forgotten. WION: Manmohan Singh has a written a letter that the primary focus of the institution should remain on Nehru. Your comments? Shakti Sinha: I have got great regards for Manmohan Singh but the fact of the matter is that in the museum there is nothing about Jawaharlal Nehru as the PM. Nothing. Only two photographs post-independence. Otherwise, it is a very fine museum on the Indian freedom struggle. It covers different aspects and phases of the freedom struggle beautifully. Even the library is diverse in its nature. It has private papers of 400 individuals including Rajaji and Shyama Prasad Mukherjee. We also have papers from Congress, Hindu Mahasabha and Muslim League. The library and museum are not predominantly about Nehru in any case. If someone is saying that today this museum and library is only about Nehru then they are misplaced. WION: Where are you making this separate museum? Shakti Sinha: We are going through the process of a design competition. There is a place behind the existing structure. Rest of the place is full of trees and we would not like to bring them down. WION: Was this institution able to evolve after its inception? Shakti Sinha: Yes, it did. This institution is very well known internationally. Our biggest strength is our documentation. For scholars of the world, if they are writing on contemporary India then, NMML is the place. The library has grown in the last three years. Museum has not changed. We are upgrading it. We are bringing more of Nehru in the museum now. We bringing aspects of Nehru which were absent earlier. WION: Was this institution closed to other ideologies? Shakti Sinha: The management of ideology can only happen by selecting exhibitions are granting fellowship. There is nothing you can do in the museum. I know people will accuse me of taking sides but I have tried my best to get people from all sides. WION: Is this a reflection of heated ideological war which has become part of our political discourse? Shakti Sinha: I would think so. This is the reason why many people are attacking us without knowing as to what we have done and we have been doing. We are actually bringing back Nehru into the museum. WION: You are being accused of diluting Nehru’s legacy? Shakti Sinha: I feel sad about it because people have not bothered to find what work we have done. WION: Will the basic nature of the institution remain unchanged or will it change with time? Shakti Sinha: No living institution remain unchanged. Institutions must take up new challenges and must not react but proactively engage and change with time. Academic platforms like NMML must be part of the change.

Institutions must proactively engage, change with time: Nehru Memorial director 

Congress chief Rahul Gandhi on Friday launched a scathing attack on Prime Minister Narendra Modi following former French President Francois Hollande's reported remarks on the Rafale deal, saying he has "betrayed" India.

His attack on Modi came after a French media report quoted Hollande as purportedly saying that the Indian government proposed Reliance Defence as the partner for Dassault Aviation in the Rs 58,000 crore Rafale jet fighter deal.

"The PM personally negotiated &amp; changed the #Rafale deal behind closed doors. Thanks to Francois Hollande, we now know he personally delivered a deal worth billions of dollars to a bankrupt Anil Ambani," Gandhi tweeted.&nbsp;

"The PM has betrayed India. He has dishonoured the blood of our soldiers," he said.

Modi had announced the procurement of a batch of 36 Rafale jets after holding talks with the then French President Hollande on April 10, 2015 in Paris.

The opposition has been accusing the government of choosing Reliance Defence over state-run Hindustan Aeronautics Ltd (HAL) to benefit the private firm though it did not have any experience in the aerospace sector.&nbsp;

Congress chief Rahul Gandhi on Friday launched a scathing attack on Prime Minister Narendra Modi following former French President Francois Hollande's reported remarks on the Rafale deal, saying he has "betrayed" India.

Congress chief Rahul Gandhi on Friday launched a scathing attack on Prime Minister Narendra Modi following former French President Francois Hollande's reported remarks on the Rafale deal, saying he has "betrayed" India. His attack on Modi came after a French media report quoted Hollande as purportedly saying that the Indian government proposed Reliance Defence as the partner for Dassault Aviation in the Rs 58,000 crore Rafale jet fighter deal. "The PM personally negotiated & changed the #Rafale deal behind closed doors. Thanks to Francois Hollande, we now know he personally delivered a deal worth billions of dollars to a bankrupt Anil Ambani," Gandhi tweeted. "The PM has betrayed India. He has dishonoured the blood of our soldiers," he said. Modi had announced the procurement of a batch of 36 Rafale jets after holding talks with the then French President Hollande on April 10, 2015 in Paris. The opposition has been accusing the government of choosing Reliance Defence over state-run Hindustan Aeronautics Ltd (HAL) to benefit the private firm though it did not have any experience in the aerospace sector.

PM has betrayed India: Gandhi on Hollande's reported remarks on Rafale deal

Adding fuel to the ongoing Rafale controversy, former French President François Hollande dropped a bombshell on Friday when he said in an interview to a French media that&nbsp;Dassault Aviation was given no choice but to partner with Anil Ambani-led Reliance Defence for the offset clause in the Rafale fighter jet deal.

In an article published by French journal Mediapart, Hollande to a question about who selected Reliance as a partner and why said it was the Indian government that proposed Reliance’s name and Dassault had no choice but to take the company given to it.

“We did not have a say in that. The Indian government proposed this service group, and Dassault negotiated with Ambani. We did not have a choice, we took the interlocutor we were given,” said Hollande. The interview was published in French and excerpts of Hollande’s interview were tweeted by French Newspaper LeMonde journalist Julien Boissou.

Hollande’s reported statement contradicts Indian government’s claim that the agreement between Dassault and Reliance was a commercial pact between two private parties and the government had nothing to do with it.

However, the&nbsp;Defence Ministry on Friday reiterated that neither government had any say in the "commercial decision".

<div class="ui-state-default">
<div class="twitter-block">
<blockquote class="twitter-tweet" data-lang="en">
The report referring to fmr French president Mr. Hollande's statement that GOI insisted upon a particular firm as offset partner for the Dassault Aviation in Rafale is being verified. 
It is reiterated that neither GoI nor French Govt had any say in the commercial decision.
— Defence Spokesperson (@SpokespersonMoD) <a href="https://twitter.com/SpokespersonMoD/status/1043128661757415424?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"The report referring to former French president Mr. Hollande`s statement that government of India insisted upon a particular firm as offset partner for the Dassault Aviation in Rafale is being verified," the Defence Ministry said in a tweet.

<div class="ui-state-default">
<div class="twitter-block">
<blockquote class="twitter-tweet" data-lang="en">
Former French President François Hollande contradicts the Indian government. According to him, Anil Ambani (Reliance Defence) was not chosen by Dassault : "We didn't have a choice. We took the partner that was given to us" <a href="https://twitter.com/hashtag/Rafale?src=hash&amp;ref_src=twsrc%5Etfw">#Rafale</a><a href="https://t.co/YX1rMQlqvk">https://t.co/YX1rMQlqvk</a>
— julien bouissou (@jubouissou) <a href="https://twitter.com/jubouissou/status/1043094027111809024?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

Congress leader Manish Tewari immediately&nbsp;joined issue and retweeted the article and asked Hollande: “President (Former) Francois Hollande should also enlighten us how the price went up from 590 crores in 2012 to 1690 crores in 2015 per Rafale fighter jet? Escalation of a mere 1100 crores. I am sure the Euro equivalent would not be a problem to calculate.”

The opposition has been alleging that the Anil Ambani firm was favoured in the Rs 21,000 crore contract at the cost of state-owned Hindustan Aeronautics Limited (HAL) despite the private firm having no prior experience in aerospace manufacturing.&nbsp;

The Narendra Modi government has repeatedly said it was Dassault that chose its India partner and that the government has had no say in the deal.&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet" data-lang="en">
President ( Former) Francois Hollande should also enlighten us how the price went up from 590 crores in 2012 to 1690 crores in 2015 per Rafale fighter jet? Escalation of a mere 1100 crores. I am sure the Euro equivalent would not be a problem to calculate <a href="https://twitter.com/jubouissou?ref_src=twsrc%5Etfw">@jubouissou</a> <a href="https://twitter.com/fhollande?ref_src=twsrc%5Etfw">@fhollande</a> <a href="https://t.co/j9aJbc6EAy">https://t.co/j9aJbc6EAy</a>
— Manish Tewari (@ManishTewari) <a href="https://twitter.com/ManishTewari/status/1043113194267533312?ref_src=twsrc%5Etfw">September 21, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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(With agency inputs)

&nbsp;

&nbsp;

Adding fuel to the ongoing Rafale controversy, former French President François Hollande dropped a bombshell on Friday when he said in an interview to a French media that Dassault Aviation was given no choice but to partner with Anil Ambani-led Reliance Defence for the offset clause in the Rafale fighter jet deal.

Adding fuel to the ongoing Rafale controversy, former French President François Hollande dropped a bombshell on Friday when he said in an interview to a French media that Dassault Aviation was given no choice but to partner with Anil Ambani-led Reliance Defence for the offset clause in the Rafale fighter jet deal. In an article published by French journal Mediapart, Hollande to a question about who selected Reliance as a partner and why said it was the Indian government that proposed Reliance’s name and Dassault had no choice but to take the company given to it. “We did not have a say in that. The Indian government proposed this service group, and Dassault negotiated with Ambani. We did not have a choice, we took the interlocutor we were given,” said Hollande. The interview was published in French and excerpts of Hollande’s interview were tweeted by French Newspaper LeMonde journalist Julien Boissou. Hollande’s reported statement contradicts Indian government’s claim that the agreement between Dassault and Reliance was a commercial pact between two private parties and the government had nothing to do with it. However, the Defence Ministry on Friday reiterated that neither government had any say in the "commercial decision". The report referring to fmr French president Mr. Hollande's statement that GOI insisted upon a particular firm as offset partner for the Dassault Aviation in Rafale is being verified. It is reiterated that neither GoI nor French Govt had any say in the commercial decision. — Defence Spokesperson (@SpokespersonMoD) September 21, 2018 × "The report referring to former French president Mr. Hollande`s statement that government of India insisted upon a particular firm as offset partner for the Dassault Aviation in Rafale is being verified," the Defence Ministry said in a tweet. Former French President François Hollande contradicts the Indian government. According to him, Anil Ambani (Reliance Defence) was not chosen by Dassault : "We didn't have a choice. We took the partner that was given to us" #Rafalehttps://t.co/YX1rMQlqvk — julien bouissou (@jubouissou) September 21, 2018 × Congress leader Manish Tewari immediately joined issue and retweeted the article and asked Hollande: “President (Former) Francois Hollande should also enlighten us how the price went up from 590 crores in 2012 to 1690 crores in 2015 per Rafale fighter jet? Escalation of a mere 1100 crores. I am sure the Euro equivalent would not be a problem to calculate.” The opposition has been alleging that the Anil Ambani firm was favoured in the Rs 21,000 crore contract at the cost of state-owned Hindustan Aeronautics Limited (HAL) despite the private firm having no prior experience in aerospace manufacturing. The Narendra Modi government has repeatedly said it was Dassault that chose its India partner and that the government has had no say in the deal. President ( Former) Francois Hollande should also enlighten us how the price went up from 590 crores in 2012 to 1690 crores in 2015 per Rafale fighter jet? Escalation of a mere 1100 crores. I am sure the Euro equivalent would not be a problem to calculate @jubouissou @fhollande https://t.co/j9aJbc6EAy — Manish Tewari (@ManishTewari) September 21, 2018 × (With agency inputs)

Former French president Hollande says Indian government proposed Anil Ambani’s Reliance for Rafale deal

<a href="http://www.wionews.com/world/trump-tells-opec-lower-oil-prices-says-we-protect-middle-east-166877">Trump tells OPEC to lower oil prices, says 'we protect Middle East'</a>

President Donald Trump on Thursday issued a fresh call on the OPEC oil cartel to lower crude prices, saying the United States was providing Middle Eastern energy giants with security.

<a href="http://www.wionews.com/world/facebook-dismiss-support-political-campaigns-ahead-elections-166895">Facebook to dismiss support for political campaigns ahead of elections</a> 
 
Facebook Inc said on Thursday that it would no longer dispatch employees to the offices of political campaigns to offer support ahead of elections, as it did with US President Donald Trump in the 2016 race.

<a href="http://www.wionews.com/india-news/rafale-deal-differences-between-hal-dassault-led-collapse-talks-166907">Rafale deal: Differences between HAL, Dassault led to </a><a href="http://www.wionews.com/india-news/rafale-deal-differences-between-hal-dassault-led-collapse-talks-166907">collapse</a><a href="http://www.wionews.com/india-news/rafale-deal-differences-between-hal-dassault-led-collapse-talks-166907"> of talks</a> 
 
Disagreements between Hindustan Aeronautics Limited (HAL) and Dassault Aviation led to the collapse of negotiations between the two in the Rafale fighter plane deal during the UPA term.

<a href="http://www.wionews.com/world/accuser-trumps-court-nominee-sets-conditions-testifying-166900">Accuser of Trump's court nominee sets conditions for testifying</a>

A lawyer for the woman accusing Brett Kavanaugh, President Donald Trump's US Supreme Court nominee, of sexual assault told a Senate panel on Thursday the professor will not testify on Monday as Republicans want but would be willing to appear sometime next week if certain terms are met.

<a href="http://www.wionews.com/india-news/world-bank-endorses-plan-india-support-its-transition-higher-middle-income-country-0">World Bank endorses </a><a href="http://www.wionews.com/india-news/world-bank-endorses-plan-india-support-its-transition-higher-middle-income-country-0">plan</a><a href="http://www.wionews.com/india-news/world-bank-endorses-plan-india-support-its-transition-higher-middle-income-country-0"> for India to support its transition to higher middle-income country</a>

A day after Prime Minister Narendra Modi said India will become a USD 5 trillion economy by 2022, the World Bank board Friday endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth.

Trump tells OPEC to lower oil prices, says 'we protect Middle East' President Donald Trump on Thursday issued a fresh call on the OPEC oil cartel to lower crude prices, saying the United States was providing Middle Eastern energy giants with security.

Trump tells OPEC to lower oil prices, says 'we protect Middle East' President Donald Trump on Thursday issued a fresh call on the OPEC oil cartel to lower crude prices, saying the United States was providing Middle Eastern energy giants with security. Facebook to dismiss support for political campaigns ahead of elections Facebook Inc said on Thursday that it would no longer dispatch employees to the offices of political campaigns to offer support ahead of elections, as it did with US President Donald Trump in the 2016 race. Rafale deal: Differences between HAL, Dassault led to collapse of talks Disagreements between Hindustan Aeronautics Limited (HAL) and Dassault Aviation led to the collapse of negotiations between the two in the Rafale fighter plane deal during the UPA term. Accuser of Trump's court nominee sets conditions for testifying A lawyer for the woman accusing Brett Kavanaugh, President Donald Trump's US Supreme Court nominee, of sexual assault told a Senate panel on Thursday the professor will not testify on Monday as Republicans want but would be willing to appear sometime next week if certain terms are met. World Bank endorses plan for India to support its transition to higher middle-income country A day after Prime Minister Narendra Modi said India will become a USD 5 trillion economy by 2022, the World Bank board Friday endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi's objectives of high, sustainable and inclusive growth.

News brief: Big stories of the day 

India has called off the meeting between External Affairs Minister and Pakistani Foreign Minister that was scheduled to take place in New York later this month on the sidelines of annual UN General Assembly (UNGA) session in New York later this month, external affairs ministry said.&nbsp;

''Since yesterday's announcement of the meeting of foreign ministers of India and Pakistan, two deeply disturbing developments took place. Latest brutal killings of our security personnel by Pakistan entities and the recent release of series of 20 postal stamps by Pakistan glorifying terrorists,'' Ministry of External Affairs (MEA) spokesperson Raveesh Kumar said on Friday.

Behind Pakistan's proposal for talks to make a fresh beginning, evil agenda of Pakistan stands exposed, he said.

"It's obvious that behind Pakistan's proposal for talks to make a fresh beginning, evil agenda of Pakistan stands exposed &amp; true face of new Prime Minister of Pakistan has been revealed to the world in his first few months in the office," MEA spokesperson said.&nbsp;

The government called off the talks after three Jammu and Kashmir cops were abducted and murdered by Pakistan backed terrorist organisation.&nbsp;

The thaw came in the wake of a letter by Pakistan Prime Minister Imran Khan to his Indian counterpart Narendra Modi in which he had sought a meeting between foreign ministers Sushma Swaraj and Shah Mehmood Qureshi on the sidelines of the UNGA.&nbsp;

The Indian government had said that the two leaders will meet at a mutually convenient date and time. But, External Affairs Ministry spokesperson Raveesh Kumar made it clear that "the coming meeting was not resumption of the dialogue process".

 
&nbsp;

India has called off the meeting between External Affairs Minister and Pakistani Foreign Minister that was scheduled to take place in New York later this month on the sidelines of annual UN General Assembly (UNGA) session in New York later this month, external affairs ministry said.

India has called off the meeting between External Affairs Minister and Pakistani Foreign Minister that was scheduled to take place in New York later this month on the sidelines of annual UN General Assembly (UNGA) session in New York later this month, external affairs ministry said. ''Since yesterday's announcement of the meeting of foreign ministers of India and Pakistan, two deeply disturbing developments took place. Latest brutal killings of our security personnel by Pakistan entities and the recent release of series of 20 postal stamps by Pakistan glorifying terrorists,'' Ministry of External Affairs (MEA) spokesperson Raveesh Kumar said on Friday. Behind Pakistan's proposal for talks to make a fresh beginning, evil agenda of Pakistan stands exposed, he said. "It's obvious that behind Pakistan's proposal for talks to make a fresh beginning, evil agenda of Pakistan stands exposed & true face of new Prime Minister of Pakistan has been revealed to the world in his first few months in the office," MEA spokesperson said. The government called off the talks after three Jammu and Kashmir cops were abducted and murdered by Pakistan backed terrorist organisation. The thaw came in the wake of a letter by Pakistan Prime Minister Imran Khan to his Indian counterpart Narendra Modi in which he had sought a meeting between foreign ministers Sushma Swaraj and Shah Mehmood Qureshi on the sidelines of the UNGA. The Indian government had said that the two leaders will meet at a mutually convenient date and time. But, External Affairs Ministry spokesperson Raveesh Kumar made it clear that "the coming meeting was not resumption of the dialogue process".

True face of Imran Khan revealed, says MEA after calling off talks with Pak 

The "best way" to celebrate 'surgical strike day' would be for Prime Minister Narendra Modi to visit the family of a BSF soldier who was tortured and killed by Pakistani troops this week, Delhi Chief Minister Arvind Kejriwal said Friday.

He also announced that his government will amend a rule on giving ex gratia of Rs 1 crore to martyred security personnel to include those who have settled in the national capital after joining the services.

The chief minister took to Twitter to respond to a UGC communication to universities to observe September 29 as "surgical strike day". The UGC on Thursday asked varsities and higher educational institutions across the country to observe September 29 as "surgical strike day", triggering a political row.

"The best way to celebrate surgical strike day wud be for the PM to visit the family of Sh Narendra Singh, who was tortured and slain by Pak this week (sic)," he tweeted.

Earlier in the day, he visited Haryana's Sonipat to meet the family of BSF jawan Narender Singh, who was killed by Pakistani troopers along the international border (IB) near Jammu.&nbsp;

The chief minister also demanded that the prime minister assure the nation that Pakistan would be given a befitting reply.&nbsp;

On the Delhi government's policy of giving ex gratia of Rs one crore and a job to the next of kin of martyrs whose permanent address was in Delhi at the time of joining service, Kejriwal said, "We are holding a meeting of the Delhi cabinet on Tuesday in which we are going to change this rule."&nbsp;

"There is a lacuna in this rule as several families (martyrs/ families) have settled in Delhi later. So, we will change this rule and bring changes in a manner so that we are able to include sacrifices made by martyrs like Narender and are able to provide this ex-gratia grant and a job to the next of kin of Narender ji," he said.

He said that Narender had joined the force in 1988 and at that time his permanent address mentioned was of Haryana.

Kejriwal said that in Narender's case, he has come to know that for the last 8-10 years, he and his family were residing in Delhi.

The chief minister strongly condemned the brutal killing of the soldier and said there was growing anger in the country over Pakistan's actions.

"We strongly condemn this cowardly act. Pakistan killed him in brutal manner and tortured him before death...There is growing anger not just in this village or Haryana, but across the country for how long will Pakistan keep killing our soldiers like this," he said.

Hitting out at the central government, he asked, "Why is the Centre appearing so helpless. Why is the prime minister not doing anything?

"Before becoming prime minister, he (Narendra Modi) used to say that writing love letters (to Pakistan) won't help. He used to say Pakistan will need to be taught a lesson in its own language. So, why don't you give such a reply?" he asked.

In a jibe at the prime minister for his surprise visit to Pakistan nearly three years back, Kejriwal said, "If writing love letters won't do, will cutting cake on their (the then PM Nawaz Sharif) birthday help. After all, for how long will our soldiers tolerate this. This is not acceptable to the country. We want action, we don't want speeches."

Asked if India should be playing cricket matches against Pakistan, Kejriwal replied, "Playing or not playing won't stop the killing of soldiers at the borders".

Kejriwal said that providing monetary help or job to next of kin of martyrs was in no way going to compensate their loss, but it was a measure to provide some relief to the families.

He voiced the hope that the prime minister "will take steps so as to give a befitting reply to Pakistan".

The mortal remains of BSF Head Constable Narender were cremated with full state honours at his native village Thana Kalan in Haryana's Sonipat district on Thursday.

The 52-year-old BSF jawan is survived by two sons and wife.

The "best way" to celebrate 'surgical strike day' would be for Prime Minister Narendra Modi to visit the family of a BSF soldier who was tortured and killed by Pakistani troops this week, Delhi Chief Minister Arvind Kejriwal said Friday.

The "best way" to celebrate 'surgical strike day' would be for Prime Minister Narendra Modi to visit the family of a BSF soldier who was tortured and killed by Pakistani troops this week, Delhi Chief Minister Arvind Kejriwal said Friday. He also announced that his government will amend a rule on giving ex gratia of Rs 1 crore to martyred security personnel to include those who have settled in the national capital after joining the services. The chief minister took to Twitter to respond to a UGC communication to universities to observe September 29 as "surgical strike day". The UGC on Thursday asked varsities and higher educational institutions across the country to observe September 29 as "surgical strike day", triggering a political row. "The best way to celebrate surgical strike day wud be for the PM to visit the family of Sh Narendra Singh, who was tortured and slain by Pak this week (sic)," he tweeted. Earlier in the day, he visited Haryana's Sonipat to meet the family of BSF jawan Narender Singh, who was killed by Pakistani troopers along the international border (IB) near Jammu. The chief minister also demanded that the prime minister assure the nation that Pakistan would be given a befitting reply. On the Delhi government's policy of giving ex gratia of Rs one crore and a job to the next of kin of martyrs whose permanent address was in Delhi at the time of joining service, Kejriwal said, "We are holding a meeting of the Delhi cabinet on Tuesday in which we are going to change this rule." "There is a lacuna in this rule as several families (martyrs/ families) have settled in Delhi later. So, we will change this rule and bring changes in a manner so that we are able to include sacrifices made by martyrs like Narender and are able to provide this ex-gratia grant and a job to the next of kin of Narender ji," he said. He said that Narender had joined the force in 1988 and at that time his permanent address mentioned was of Haryana. Kejriwal said that in Narender's case, he has come to know that for the last 8-10 years, he and his family were residing in Delhi. The chief minister strongly condemned the brutal killing of the soldier and said there was growing anger in the country over Pakistan's actions. "We strongly condemn this cowardly act. Pakistan killed him in brutal manner and tortured him before death...There is growing anger not just in this village or Haryana, but across the country for how long will Pakistan keep killing our soldiers like this," he said. Hitting out at the central government, he asked, "Why is the Centre appearing so helpless. Why is the prime minister not doing anything? "Before becoming prime minister, he (Narendra Modi) used to say that writing love letters (to Pakistan) won't help. He used to say Pakistan will need to be taught a lesson in its own language. So, why don't you give such a reply?" he asked. In a jibe at the prime minister for his surprise visit to Pakistan nearly three years back, Kejriwal said, "If writing love letters won't do, will cutting cake on their (the then PM Nawaz Sharif) birthday help. After all, for how long will our soldiers tolerate this. This is not acceptable to the country. We want action, we don't want speeches." Asked if India should be playing cricket matches against Pakistan, Kejriwal replied, "Playing or not playing won't stop the killing of soldiers at the borders". Kejriwal said that providing monetary help or job to next of kin of martyrs was in no way going to compensate their loss, but it was a measure to provide some relief to the families. He voiced the hope that the prime minister "will take steps so as to give a befitting reply to Pakistan". The mortal remains of BSF Head Constable Narender were cremated with full state honours at his native village Thana Kalan in Haryana's Sonipat district on Thursday. The 52-year-old BSF jawan is survived by two sons and wife.

Best way to celebrate 'surgical strike day' is for PM to visit slain BSF jawan's family: Kejriwal

A two-wheeler-borne 19-year old man, fleeing after allegedly snatching a mobile phone of a pedestrian, died in a mishap involving a truck and its driver "beaten to death" by his two enraged accomplices here, police said Friday.

The bizarre incident unfolded when the trio snatched a smartphone from a man who was speaking to someone on a highway off Madhavaram in north Chennai and sped away in their motorcycle late Thursday night.

However, a short distance away, the motorcycle grazed the side of a cargo truck, resulting in all the three riders falling down.

While one of them came under the wheels of the truck and was crushed to death, the other two escaped with minor injuries, police said.

Enraged over the death of their friend, the two men allegedly thrashed the driver who died on the spot. They later fled from the spot.

On being alert about the incident by some passersby, police later arrested the two persons.

They were produced before a court which remanded them to judicial custody.&nbsp;

A two-wheeler-borne 19-year old man, fleeing after allegedly snatching a mobile phone of a pedestrian, died in a mishap involving a truck and its driver "beaten to death" by his two enraged accomplices here, police said Friday.

A two-wheeler-borne 19-year old man, fleeing after allegedly snatching a mobile phone of a pedestrian, died in a mishap involving a truck and its driver "beaten to death" by his two enraged accomplices here, police said Friday. The bizarre incident unfolded when the trio snatched a smartphone from a man who was speaking to someone on a highway off Madhavaram in north Chennai and sped away in their motorcycle late Thursday night. However, a short distance away, the motorcycle grazed the side of a cargo truck, resulting in all the three riders falling down. While one of them came under the wheels of the truck and was crushed to death, the other two escaped with minor injuries, police said. Enraged over the death of their friend, the two men allegedly thrashed the driver who died on the spot. They later fled from the spot. On being alert about the incident by some passersby, police later arrested the two persons. They were produced before a court which remanded them to judicial custody.

Youth fleeing after snatching smartphone killed in road mishap

Hitting out at the Centre over the security situation in Jammu and Kashmir, the Congress Friday alleged that the NDA government was playing with the "crown of India" and treating the people of the state like "guinea pigs".

Congress leader Abhishek Singhvi alleged that there had been a marked quantitative increase in ceasefire violations, deaths of security personnel, civilian killings, and terror incidents in Jammu and Kashmir since the BJP came to power at the Centre and in the state.

He blamed the government for the deteriorating security situation in Jammu and Kashmir and cited the abduction and killing of three policemen and the reported resignations by police personnel in the state.

The Home Ministry, however, said Friday that no policeman has resigned in the state following the killing of the three police personnel by terror group Hizbul Mujahideen and described such reports as "false propaganda" by "mischievous" elements.

"There is a quantitative and qualitative change. The quantitative change is reflected in any of the four parameters -- ceasefire violations, death of security personnel, civilian deaths, terror incidents," Singhvi said.

It is "shocking" that 414 jawans have died since the BJP came to power at the Centre and in the state, he said.

Singhvi said, "256 civilians have died. As I have said on all parameters there is 100, 200, 300 per cent increase. In the case of ceasefire violations, there is a 500 per cent increase."

He said the UPA had brought the state and its people in the mainstream, but the NDA government converted that mainstream into "midstream".

Singhvi also accused the government of treating Jammu and Kashmir like a "laboratory experiment" and its people like "guinea pigs".

"The government has betrayed each and every part of Jammu and Kashmir and Ladakh," the Congress leader said.

He alleged that to all the incidents of violence and deteriorating security situation, there was silence on the part of the government.

Singhvi alleged that mutilations have been on the rise since 2016 and also cited the recent killing of a BSF jawan who was found with his throat slit.

He also slammed the government's decision to agree to the meeting between External Affairs Minister Sushma Swaraj and her Pakistani counterpart Shah Mahmood Qureshi on the sidelines of the UN General Assembly in New York.

However, later in the evening, India called off the meeting citing the "brutal" killing of the three policemen in Jammu and Kashmir as well as the release of postal stamps glorifying Kashmiri militant Burhan Wani.

Singhvi slammed the government's Pakistan policy as a 'No Pak policy'. 
"It is knee-jerk, it is episodic, it is momentary, it is transient, it depends on the mood of the moment. This government has no moral right to continue. The government is playing with crown, with the pride of India," he said.&nbsp;

Hitting out at the Centre over the security situation in Jammu and Kashmir, the Congress Friday alleged that the NDA government was playing with the "crown of India" and treating the people of the state like "guinea pigs".

Hitting out at the Centre over the security situation in Jammu and Kashmir, the Congress Friday alleged that the NDA government was playing with the "crown of India" and treating the people of the state like "guinea pigs". Congress leader Abhishek Singhvi alleged that there had been a marked quantitative increase in ceasefire violations, deaths of security personnel, civilian killings, and terror incidents in Jammu and Kashmir since the BJP came to power at the Centre and in the state. He blamed the government for the deteriorating security situation in Jammu and Kashmir and cited the abduction and killing of three policemen and the reported resignations by police personnel in the state. The Home Ministry, however, said Friday that no policeman has resigned in the state following the killing of the three police personnel by terror group Hizbul Mujahideen and described such reports as "false propaganda" by "mischievous" elements. "There is a quantitative and qualitative change. The quantitative change is reflected in any of the four parameters -- ceasefire violations, death of security personnel, civilian deaths, terror incidents," Singhvi said. It is "shocking" that 414 jawans have died since the BJP came to power at the Centre and in the state, he said. Singhvi said, "256 civilians have died. As I have said on all parameters there is 100, 200, 300 per cent increase. In the case of ceasefire violations, there is a 500 per cent increase." He said the UPA had brought the state and its people in the mainstream, but the NDA government converted that mainstream into "midstream". Singhvi also accused the government of treating Jammu and Kashmir like a "laboratory experiment" and its people like "guinea pigs". "The government has betrayed each and every part of Jammu and Kashmir and Ladakh," the Congress leader said. He alleged that to all the incidents of violence and deteriorating security situation, there was silence on the part of the government. Singhvi alleged that mutilations have been on the rise since 2016 and also cited the recent killing of a BSF jawan who was found with his throat slit. He also slammed the government's decision to agree to the meeting between External Affairs Minister Sushma Swaraj and her Pakistani counterpart Shah Mahmood Qureshi on the sidelines of the UN General Assembly in New York. However, later in the evening, India called off the meeting citing the "brutal" killing of the three policemen in Jammu and Kashmir as well as the release of postal stamps glorifying Kashmiri militant Burhan Wani. Singhvi slammed the government's Pakistan policy as a 'No Pak policy'. "It is knee-jerk, it is episodic, it is momentary, it is transient, it depends on the mood of the moment. This government has no moral right to continue. The government is playing with crown, with the pride of India," he said.

Government playing with 'crown' of India: Congress on J&K situation

Soon after the acquisition of the ailing IDBI Bank by insurance giant LIC, the government announced the merger of Bank of Baroda with two smaller banks not in the pink of health. The short-term profitability of the BOB will not be affected by the merger, but that the net assets of the three banks and the consolidation of branches and operations will be smooth and beneficial in the long run for the merged monolith.

Bank mergers have long been viewed with scepticism after the SBI shares and profits were pulled down following the merger with its five associate banks. Although the merger catapulted SBI to the ranks of the top 50 global banks in terms of assets, its NPAs rose from Rs 1.07 lakh crore to Rs 1.89 lakh crore after the merger, which was over 9 per cent of total advances. The real benefits of consolidation are long term after the branch reduction takes place and the cost-cutting follows after all duplicate operations and redundancies are rationalised.

Consolidation mooted long back

The consolidation of 21 public sector banks has been discussed ever since the Narsimham committee report was tabled during the early days of liberalisation in 1991. The banking sector reforms proposed by the former RBI Governor in 1991 and 1998 never took off because there was no political compulsion. Simply speaking, bank nationalisation was done because it empowered millions with banking facility and endeared Indira Gandhi to the masses. But PSU banks were out of focus post-Indira Gandhi and politicians found no reason to consolidate operations and nurture them.

But PM Narendra Modi’s politics is around banking the unbanked like Indira Gandhi. He has to nurture the PSU banks and make them healthy if they have to be milked for empowering the masses. For new social initiatives like Mudra loans, the PSU banks must be healthy. Turning the PSU banks healthy is no mean task because for decades NPAs had accumulated without stressed assets resolution.

When Raghuram Rajan tried to crack the whip on the banks under UPA II, he did not get political support. He was able to implement the Asset Quality Review norms for banks only in 2015 after which the Bank NPAs have steadily risen each quarter. The Insolvency and Bankruptcy Code IBC 2016 was thereafter put in place for resolution of stressed assets.

So, though NPAs have soared after 2015, the banks are writing off or selling its bad loans each quarter. Additionally, the weaker banks will be merged with the stronger banks to ensure that no bank becomes a liability that cannot be revived. But it is not only the weak bank with the strong bank that is going to be the consideration for mergers. There will be many other areas including the location of branches and type of advances that needs to be studied before the pairing of banks is done for the merger. Let us see why the Bank of Baroda, Vijaya Bank and Dena Bank have been paired for merger and how it should fair in the longer run.

Will merger lead to higher efficiencies?

The key issue will be whether the banks that are merging will be healthy, efficient and more viable in its operations than the current entities. Secretary Department of Financial Services Rajiv Kumar says “that the new entity is positioned for a substantial rise in customer base, market reach, operational efficiency and a wider bouquet of products and services for customers.” The merged banks will create the third largest bank in India with total business of Rs 14.82 lakh crore.

Each bank gains from the merger in some ways. The amalgamation will also give a chance for the consolidated bank to shut down the many branches that will become redundant after the merger. That will effectively cut costs and result in huge savings. For example, Vijaya Bank is traditionally strong in the southern states while Bank of Baroda is stronger in the west. Dena Bank has a very high number of branches that do little business. Each bank will have to rationalise its branches and shut down those which are doing less business at the same location. These are post-merger issues that need to be tackled with finesse, but the consolidation was overdue and the first target should be to bring down the 21 nationalised banks to anywhere between 6 to 10 amalgamated banks that are then nurtured back to health.

(This article was first published on The DNA. Read the <a href="https://www.dnaindia.com/analysis/column-mergers-likely-to-help-banking-sector-in-the-long-run-2665642">original article</a>.)

(Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL) 
&nbsp;

Soon after the acquisition of the ailing IDBI Bank by insurance giant LIC, the government announced the merger of Bank of Baroda with two smaller banks not in the pink of health.

Soon after the acquisition of the ailing IDBI Bank by insurance giant LIC, the government announced the merger of Bank of Baroda with two smaller banks not in the pink of health. The short-term profitability of the BOB will not be affected by the merger, but that the net assets of the three banks and the consolidation of branches and operations will be smooth and beneficial in the long run for the merged monolith. Bank mergers have long been viewed with scepticism after the SBI shares and profits were pulled down following the merger with its five associate banks. Although the merger catapulted SBI to the ranks of the top 50 global banks in terms of assets, its NPAs rose from Rs 1.07 lakh crore to Rs 1.89 lakh crore after the merger, which was over 9 per cent of total advances. The real benefits of consolidation are long term after the branch reduction takes place and the cost-cutting follows after all duplicate operations and redundancies are rationalised. Consolidation mooted long back The consolidation of 21 public sector banks has been discussed ever since the Narsimham committee report was tabled during the early days of liberalisation in 1991. The banking sector reforms proposed by the former RBI Governor in 1991 and 1998 never took off because there was no political compulsion. Simply speaking, bank nationalisation was done because it empowered millions with banking facility and endeared Indira Gandhi to the masses. But PSU banks were out of focus post-Indira Gandhi and politicians found no reason to consolidate operations and nurture them. But PM Narendra Modi’s politics is around banking the unbanked like Indira Gandhi. He has to nurture the PSU banks and make them healthy if they have to be milked for empowering the masses. For new social initiatives like Mudra loans, the PSU banks must be healthy. Turning the PSU banks healthy is no mean task because for decades NPAs had accumulated without stressed assets resolution. When Raghuram Rajan tried to crack the whip on the banks under UPA II, he did not get political support. He was able to implement the Asset Quality Review norms for banks only in 2015 after which the Bank NPAs have steadily risen each quarter. The Insolvency and Bankruptcy Code IBC 2016 was thereafter put in place for resolution of stressed assets. So, though NPAs have soared after 2015, the banks are writing off or selling its bad loans each quarter. Additionally, the weaker banks will be merged with the stronger banks to ensure that no bank becomes a liability that cannot be revived. But it is not only the weak bank with the strong bank that is going to be the consideration for mergers. There will be many other areas including the location of branches and type of advances that needs to be studied before the pairing of banks is done for the merger. Let us see why the Bank of Baroda, Vijaya Bank and Dena Bank have been paired for merger and how it should fair in the longer run. Will merger lead to higher efficiencies? The key issue will be whether the banks that are merging will be healthy, efficient and more viable in its operations than the current entities. Secretary Department of Financial Services Rajiv Kumar says “that the new entity is positioned for a substantial rise in customer base, market reach, operational efficiency and a wider bouquet of products and services for customers.” The merged banks will create the third largest bank in India with total business of Rs 14.82 lakh crore. Each bank gains from the merger in some ways. The amalgamation will also give a chance for the consolidated bank to shut down the many branches that will become redundant after the merger. That will effectively cut costs and result in huge savings. For example, Vijaya Bank is traditionally strong in the southern states while Bank of Baroda is stronger in the west. Dena Bank has a very high number of branches that do little business. Each bank will have to rationalise its branches and shut down those which are doing less business at the same location. These are post-merger issues that need to be tackled with finesse, but the consolidation was overdue and the first target should be to bring down the 21 nationalised banks to anywhere between 6 to 10 amalgamated banks that are then nurtured back to health. (This article was first published on The DNA. Read the original article.) (Disclaimer: The opinions expressed above are the personal views of the author and do not reflect the views of ZMCL)

Opinion: Mergers likely to help banking sector in the long run

BJP president Amit Shah Friday accused Congress chief Rahul Gandhi of supporting "urban Naxals" plotting to assassinate the prime minister and asked him to clarify his stand on the issue to people in poll-bound Rajasthan, Madhya Pradesh and Chhattisgarh.

Shah's comments come in the wake of the Maharashtra police arresting five human rights activists late last month for their alleged links with Maoists.

Addressing party workers, Shah also mocked Gandhi, calling him "Rahul baba" and saying he is "day-dreaming" about the Congress' victory in Rajasthan, Madhya Pradesh and Chhattisgarh, BJP-ruled states where elections are due by year-end.&nbsp;

He said, "Rahul Gandhi and company" were supporting "urban Naxals" plotting to assassinate the prime minister.

"Shouldn't those who were plotting to assassinate the prime minister be arrested?" Shah asked.

"Rahul baba should make his stand clear on the issue of urban Naxals to the people of Rajasthan, Madhya Pradesh and Chhattisgarh," he said.

He exhorted workers in Chhattisgarh to ensure that the party wins more than 65 seats in the 90-member assembly in the state and the Congress is decimated. Anything below the target of 65 seats should not be considered a win, the BJP chief said.

The saffron outfit currently has 49 MLAs in the state, where it has been in power since 2003.

Mocking Gandhi for predicting a Congress win in the three poll-bound states, Shah said, "Rahul baba is dreaming in broad daylight with his eyes open."

The BJP chief also highlighted the achievements of the Narendra Modi government in the last four years.

"Since 2014 when Narendra Modi became PM, the Congress has lost each and every state election. You (Rahul) ask us what the BJP has done in four-and-a-half years...

"Our government is working for the poor, youth and farmers who were neglected during your family rule. When Pakistan-based terrorists attacked us, (then PM) Manmohan Singh remained quiet. But, under Modi, our security forces conducted surgical strikes after Uri attack," Shah said.

BJP president Amit Shah Friday accused Congress chief Rahul Gandhi of supporting "urban Naxals" plotting to assassinate the prime minister and asked him to clarify his stand on the issue to people in poll-bound Rajasthan, Madhya Pradesh and Chhattisgarh.

BJP president Amit Shah Friday accused Congress chief Rahul Gandhi of supporting "urban Naxals" plotting to assassinate the prime minister and asked him to clarify his stand on the issue to people in poll-bound Rajasthan, Madhya Pradesh and Chhattisgarh. Shah's comments come in the wake of the Maharashtra police arresting five human rights activists late last month for their alleged links with Maoists. Addressing party workers, Shah also mocked Gandhi, calling him "Rahul baba" and saying he is "day-dreaming" about the Congress' victory in Rajasthan, Madhya Pradesh and Chhattisgarh, BJP-ruled states where elections are due by year-end. He said, "Rahul Gandhi and company" were supporting "urban Naxals" plotting to assassinate the prime minister. "Shouldn't those who were plotting to assassinate the prime minister be arrested?" Shah asked. "Rahul baba should make his stand clear on the issue of urban Naxals to the people of Rajasthan, Madhya Pradesh and Chhattisgarh," he said. He exhorted workers in Chhattisgarh to ensure that the party wins more than 65 seats in the 90-member assembly in the state and the Congress is decimated. Anything below the target of 65 seats should not be considered a win, the BJP chief said. The saffron outfit currently has 49 MLAs in the state, where it has been in power since 2003. Mocking Gandhi for predicting a Congress win in the three poll-bound states, Shah said, "Rahul baba is dreaming in broad daylight with his eyes open." The BJP chief also highlighted the achievements of the Narendra Modi government in the last four years. "Since 2014 when Narendra Modi became PM, the Congress has lost each and every state election. You (Rahul) ask us what the BJP has done in four-and-a-half years... "Our government is working for the poor, youth and farmers who were neglected during your family rule. When Pakistan-based terrorists attacked us, (then PM) Manmohan Singh remained quiet. But, under Modi, our security forces conducted surgical strikes after Uri attack," Shah said.

Amit Shah accuses Rahul Gandhi of supporting 'urban Naxals'

The Home Ministry Friday said no policeman has resigned in Jammu and Kashmir following the killing of three police personnel by terror group Hizbul Mujahideen and described such reports as "false propaganda" by "mischievous" elements.

In a statement, the ministry said reports have appeared in a section of the media that some special police officers (SPOs) in Jammu and Kashmir have resigned, but the state police have confirmed that these reports are "untrue and motivated".

"These reports are based on false propaganda by mischievous elements," it said.

The Home Ministry said Jammu and Kashmir has a professional and committed police force, which is fully geared up to meet the security challenges, including those related to the forthcoming panchayat and urban body elections.

"There are over 30,000 SPOs and their services are reviewed from time to time. Some mischievous elements are trying to project that those SPOs whose services are not renewed due to administrative reasons, have resigned," it said.

The ministry said militants are on the backfoot in Jammu and Kashmir and 28 militants have been neutralised this year alone in Shopian district, where the Friday incident took place.

"Due to pro-active actions of the state police, militants have been pushed to a corner and are being driven to desperation," it said.

The three policemen were abducted from their homes in south Kashmir's Shopian district and shot dead in cold blood by the Hizbul Mujahideen, police said

Earlier reports suggested that the killings had triggered panic in the lower ranks of the police department with at least six policemen resigning. Two of them issued video messages dissociating themselves from the force. 
"My name is Irshad Ahmad Baba and I was working as a constable in the police. I have rendered my resignation...," said one of them in a video being widely circulated on social media in Srinagar.

Tajalla Hussain Lone, an SPO, said he had resigned from the police department on September 17 and was issuing the video to put to rest any doubts, and that Hizbul Mujahideen commander Riyaz Naikoo has several times warned local policemen, especially SPOs, to resign from the force, saying that the government is using them.&nbsp;

The Home Ministry Friday said no policeman has resigned in Jammu and Kashmir following the killing of three police personnel by terror group Hizbul Mujahideen and described such reports as "false propaganda" by "mischievous" elements.

The Home Ministry Friday said no policeman has resigned in Jammu and Kashmir following the killing of three police personnel by terror group Hizbul Mujahideen and described such reports as "false propaganda" by "mischievous" elements. In a statement, the ministry said reports have appeared in a section of the media that some special police officers (SPOs) in Jammu and Kashmir have resigned, but the state police have confirmed that these reports are "untrue and motivated". "These reports are based on false propaganda by mischievous elements," it said. The Home Ministry said Jammu and Kashmir has a professional and committed police force, which is fully geared up to meet the security challenges, including those related to the forthcoming panchayat and urban body elections. "There are over 30,000 SPOs and their services are reviewed from time to time. Some mischievous elements are trying to project that those SPOs whose services are not renewed due to administrative reasons, have resigned," it said. The ministry said militants are on the backfoot in Jammu and Kashmir and 28 militants have been neutralised this year alone in Shopian district, where the Friday incident took place. "Due to pro-active actions of the state police, militants have been pushed to a corner and are being driven to desperation," it said. The three policemen were abducted from their homes in south Kashmir's Shopian district and shot dead in cold blood by the Hizbul Mujahideen, police said Earlier reports suggested that the killings had triggered panic in the lower ranks of the police department with at least six policemen resigning. Two of them issued video messages dissociating themselves from the force. "My name is Irshad Ahmad Baba and I was working as a constable in the police. I have rendered my resignation...," said one of them in a video being widely circulated on social media in Srinagar. Tajalla Hussain Lone, an SPO, said he had resigned from the police department on September 17 and was issuing the video to put to rest any doubts, and that Hizbul Mujahideen commander Riyaz Naikoo has several times warned local policemen, especially SPOs, to resign from the force, saying that the government is using them.

No policeman has resigned in Jammu and Kashmir: MHA

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices.

The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities.

A senior Income Tax official privy to the development told ANI: "We had found evidence of very high inflated expenditure bills during the survey. Jet Airways had shown too much expenditure while filling their returns to reduce the profitability of the company."

Following this, the IT department is verifying all the records to dig out information about the alleged financial irregularities and suspicious transactions of the Naresh Goyal-controlled Jet Airways.

According to sources, the IT officials are scrutinising the airline's records for the last four years to find out if there has been any syphoning of funds, and to also look at the issue of suspicious bogus expenses booked to group entities, if any.

The official revealed that the department decided to conduct the survey after Jet Airways deferred its quarterly result.

On September 19, the IT department had conducted a survey of Jet Airways for verification of its expenses.

The airlines have been in the spotlight since August 9, after it deferred its quarterly results amid differences with its auditors, leading to queries by stock exchanges and the market regulator.

The auditor did not modify its opinion and reiterated that the airline's future was dependent on raising capital and generating sustainable cash flows. Last month, Jet Airways had said that it would seek capital infusion and sell a stake in its loyalty programme, after reporting a net loss of Rs 13.26 billion in the April-June quarter of 2018-19.

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices. The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities.

The Income Tax (IT) department has found evidence of inflated expenditure by Jet Airways in their survey carried out at the airline's Mumbai and Delhi offices. The Mumbai Directorate of Income-Tax investigation wing had conducted the survey at four business premises of Jet Airways in the two cities. A senior Income Tax official privy to the development told ANI: "We had found evidence of very high inflated expenditure bills during the survey. Jet Airways had shown too much expenditure while filling their returns to reduce the profitability of the company." Following this, the IT department is verifying all the records to dig out information about the alleged financial irregularities and suspicious transactions of the Naresh Goyal-controlled Jet Airways. According to sources, the IT officials are scrutinising the airline's records for the last four years to find out if there has been any syphoning of funds, and to also look at the issue of suspicious bogus expenses booked to group entities, if any. The official revealed that the department decided to conduct the survey after Jet Airways deferred its quarterly result. On September 19, the IT department had conducted a survey of Jet Airways for verification of its expenses. The airlines have been in the spotlight since August 9, after it deferred its quarterly results amid differences with its auditors, leading to queries by stock exchanges and the market regulator. The auditor did not modify its opinion and reiterated that the airline's future was dependent on raising capital and generating sustainable cash flows. Last month, Jet Airways had said that it would seek capital infusion and sell a stake in its loyalty programme, after reporting a net loss of Rs 13.26 billion in the April-June quarter of 2018-19.

IT department finds evidence of inflated expenditure by Jet Airways

Congress leader and author Shashi Tharoor said Pakistan Prime Minister Imran Khan has a "fairly clear level" of military backing and could be a "wonderful face" for peace or an "effective voice for hostility" depending on what the Army wants.&nbsp;

Tharoor described Khan as a "fine human being" and a "good guy" whom he has known for a long time.

Tharoor said one has to understand however that he is now Pakistan's Prime Minister with a "fairly clear level of military backing".&nbsp;

Khan is a "good guy and if the military decides they want peace, he will be a wonderful face for that peace but if the military decides they want hostility, I'm sure he is equally capable of being an effective voice for hostility," Tharoor said Thursday during a conversation titled 'India Sutra' held at the Jaipur Literature Festival, organised as part of Season of India at Asia Society.&nbsp;

Tharoor was responding to a question on whether the election of Khan, a popular cricketer, as Pakistan's Prime Minister would see a "sporting spirit" coming into play between the two countries. He added that he would love to see more cricket being played between India and Pakistan.&nbsp;

He, however, emphasised that the experience that India has had with Pakistan for the last 70 years "shows us that it is what the Pakistani military decides that will determine the prospects for any genuine or lasting peace between our countries."&nbsp;&nbsp; &nbsp;

He said he has often remarked that in India the State has an army and in Pakistan, the army has a State. He said the Army in Pakistan has ruled directly for 32 years and indirectly for the other 38 years by "essentially controlling how much the government could do or not do.

"Every time a civilian government in Pakistan has attempted to make some progress in responding to Indian peace overtures, every single time it's been interrupted by either a military action directly undertaken by the Pakistan Army like in Kargil or militants unleashed by the Pakistani Army's notorious ISI as we saw on 26/11," he said, referring to the Kargil war of 1999 and the Mumbai terror attacks in November 2008 carried out by 10 terrorists belonging to Pakistan-based Lashkar-e-Taiba group.

"The question that comes up to any Indian government is - is it worth talking to a civilian government in Pakistan or are they all either unable or unwilling to fulfil their professions of peace. That worry will remain, whoever is Prime Minister," he said.

Tharoor added that the paradox of India-Pakistan relations is that there is very little problem between Indians and Pakistanis as people. He said it is "unfair" to expect cricket or any other sport to bear the burden of political relationship or military tension between two countries.

"Sport is a sport, it should be seen as such. Whether we win or lose will have no bearing on whether we are going to be able to make peace with the Pakistani authorities. I honestly think we should separate the two," he said.&nbsp;

The 'Season of India' is a series of programs and special events on India's arts and culture that is being held in conjunction with the exhibition The Progressive Revolution: Modern Art for a New India, on view at Asia Society Museum from September 14 through January 20, 2019.&nbsp;

Congress leader and author Shashi Tharoor said Pakistan Prime Minister Imran Khan has a "fairly clear level" of military backing and could be a "wonderful face" for peace or an "effective voice for hostility" depending on what the Army wants.

Congress leader and author Shashi Tharoor said Pakistan Prime Minister Imran Khan has a "fairly clear level" of military backing and could be a "wonderful face" for peace or an "effective voice for hostility" depending on what the Army wants. Tharoor described Khan as a "fine human being" and a "good guy" whom he has known for a long time. Tharoor said one has to understand however that he is now Pakistan's Prime Minister with a "fairly clear level of military backing". Khan is a "good guy and if the military decides they want peace, he will be a wonderful face for that peace but if the military decides they want hostility, I'm sure he is equally capable of being an effective voice for hostility," Tharoor said Thursday during a conversation titled 'India Sutra' held at the Jaipur Literature Festival, organised as part of Season of India at Asia Society. Tharoor was responding to a question on whether the election of Khan, a popular cricketer, as Pakistan's Prime Minister would see a "sporting spirit" coming into play between the two countries. He added that he would love to see more cricket being played between India and Pakistan. He, however, emphasised that the experience that India has had with Pakistan for the last 70 years "shows us that it is what the Pakistani military decides that will determine the prospects for any genuine or lasting peace between our countries." He said he has often remarked that in India the State has an army and in Pakistan, the army has a State. He said the Army in Pakistan has ruled directly for 32 years and indirectly for the other 38 years by "essentially controlling how much the government could do or not do. "Every time a civilian government in Pakistan has attempted to make some progress in responding to Indian peace overtures, every single time it's been interrupted by either a military action directly undertaken by the Pakistan Army like in Kargil or militants unleashed by the Pakistani Army's notorious ISI as we saw on 26/11," he said, referring to the Kargil war of 1999 and the Mumbai terror attacks in November 2008 carried out by 10 terrorists belonging to Pakistan-based Lashkar-e-Taiba group. "The question that comes up to any Indian government is - is it worth talking to a civilian government in Pakistan or are they all either unable or unwilling to fulfil their professions of peace. That worry will remain, whoever is Prime Minister," he said. Tharoor added that the paradox of India-Pakistan relations is that there is very little problem between Indians and Pakistanis as people. He said it is "unfair" to expect cricket or any other sport to bear the burden of political relationship or military tension between two countries. "Sport is a sport, it should be seen as such. Whether we win or lose will have no bearing on whether we are going to be able to make peace with the Pakistani authorities. I honestly think we should separate the two," he said. The 'Season of India' is a series of programs and special events on India's arts and culture that is being held in conjunction with the exhibition The Progressive Revolution: Modern Art for a New India, on view at Asia Society Museum from September 14 through January 20, 2019.

Imran Khan can be face for peace or voice for hostility depending on Pak Army: Tharoor 

Bodies of 3 abducted policemen found in Shopian 

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Terrorists kill 3 J&K policemen; bodies found in orchards 

The Congress in Chhattisgarh has hit out at Mayawati-led BSP for <a href="http://wionews.com/india-news/would-ban-alcohol-but-not-for-tribals-ex-chhattisgarh-chief-minister-ajit-jogi-153615">allying with former chief minister Ajit Jogi</a>'s party for the upcoming state assembly election and claimed the pre-poll tie-up has the support of the ruling BJP.

The main opposition party was hoping for an alliance with the Bahujan Samaj Party to take on the BJP in upcoming polls.

It said the BSP has allied with Jogi, an ex-Congressman, as it was facing heat from central government agencies.

The Congress said the alliance between the BSP and Jogi's Janta Congress Chhattisgarh (JCC) has the support of the BJP, which is ruling the state since 2003.

The alliance between the BSP and the JCC was announced in Lucknow Thursday by Mayawati, who said Jogi will be its chief ministerial candidate. According to her, the

BSP will contest 35 seats and the JCC 55 in the 90-member House.

"Pressure from the Central Bureau of Investigation and the Enforcement Directorate on the BSP has led to the creation of this alliance.

"This alliance had been formed with the BJP's support and the people of the state had an understanding of it," state Congress chief Bhupesh Baghel said Thursday.

He claimed the BSP had been fielding candidates on the direction of the BJP in all elections in the state so far.

"In the coming polls too, the BSP will field candidates as per the ruling party's choice. This time the party has been exposed by supporting Jogi who has acted as a 'B' team of the BJP," Baghel said.

On the other hand, the BJP said it sees no threat from the BSP-JCC tie-up and is hopeful that the alliance will benefit it.

"Hopes of the Congress were dashed as it had been trying for an alliance with the BSP. The political scenario emerging after the alliance between the BSP and the JCC reflects that the state will see a triangular fight in the coming election," state BJP president Dharamlal Kaushik said.

"However, the BJP is not at all worried as it (BSP-JCC tie-up) will benefit the party and it will storm back to power for a fourth consecutive term," Kaushik said.

The BJP had been working on a mission to win 65 of the 90 assembly seats this time and it will achieve its goal, Kaushik said.

Political observers said the alliance has come as a jolt to the Congress, which was hoping to end the long reign of the BJP in the state.

The BJP and the Congress have dominated the bipolar political landscape in Chhattisgarh, which came into existence in November 2000, and there has been a very limited impact of smaller parties in elections.

However, the BSP-JCC alliance will make the contest triangular when the elections are held by the year-end.

"The Congress has suffered a setback with the move as it was attempting to take the BSP to his side for the upcoming election in view of the latter's hold among

Scheduled Caste population, particularly the Satnami community, in districts like Janjgir-Champa, Raigarh and Bilaspur," veteran journalist Ramesh Nayyar told PTI.

However, the development has made the BJP anxious, Nayyar said.

The BSP-JCC combination will prompt both the national parties to devise strategies to attract Scheduled Caste and Scheduled Tribe voters, who comprise nearly 50 per cent of the population of the state, and Jogi has considerable influence among these sections, he added.

Ajit Jogi's son Amit, a legislator, said only the BSP-JCC alliance is capable of stopping the BJP from coming to power in the state.

"BSP chief Mayawati was well aware of the fact that the Congress is a sinking ship. She knows it is only the JCC which has the potential to snatch power from the ruling BJP," said Amit Jogi, MLA from Marwahi seat.

"The people of the state will get a better alternative this time and very soon a joint programme of both the leaders (Mayawati and Ajit Jogi) will be held in the state," he said. 
In the 2013 poll, the BJP had won 49 seats, Congress 39, the BSP 1 and Independent 1. The BJP had secured 41.04 per cent of the total votes polled, the Congress 40.29 per cent and the BSP 4.27 per cent. 
Ajit Jogi quit the Congress in 2016 and launched his own party.&nbsp;

The Congress in Chhattisgarh has hit out at Mayawati-led BSP for allying with former chief minister Ajit Jogi's party for the upcoming state assembly election and claimed the pre-poll tie-up has the support of the ruling BJP.

The Congress in Chhattisgarh has hit out at Mayawati-led BSP for allying with former chief minister Ajit Jogi's party for the upcoming state assembly election and claimed the pre-poll tie-up has the support of the ruling BJP. The main opposition party was hoping for an alliance with the Bahujan Samaj Party to take on the BJP in upcoming polls. It said the BSP has allied with Jogi, an ex-Congressman, as it was facing heat from central government agencies. The Congress said the alliance between the BSP and Jogi's Janta Congress Chhattisgarh (JCC) has the support of the BJP, which is ruling the state since 2003. The alliance between the BSP and the JCC was announced in Lucknow Thursday by Mayawati, who said Jogi will be its chief ministerial candidate. According to her, the BSP will contest 35 seats and the JCC 55 in the 90-member House. "Pressure from the Central Bureau of Investigation and the Enforcement Directorate on the BSP has led to the creation of this alliance. "This alliance had been formed with the BJP's support and the people of the state had an understanding of it," state Congress chief Bhupesh Baghel said Thursday. He claimed the BSP had been fielding candidates on the direction of the BJP in all elections in the state so far. "In the coming polls too, the BSP will field candidates as per the ruling party's choice. This time the party has been exposed by supporting Jogi who has acted as a 'B' team of the BJP," Baghel said. On the other hand, the BJP said it sees no threat from the BSP-JCC tie-up and is hopeful that the alliance will benefit it. "Hopes of the Congress were dashed as it had been trying for an alliance with the BSP. The political scenario emerging after the alliance between the BSP and the JCC reflects that the state will see a triangular fight in the coming election," state BJP president Dharamlal Kaushik said. "However, the BJP is not at all worried as it (BSP-JCC tie-up) will benefit the party and it will storm back to power for a fourth consecutive term," Kaushik said. The BJP had been working on a mission to win 65 of the 90 assembly seats this time and it will achieve its goal, Kaushik said. Political observers said the alliance has come as a jolt to the Congress, which was hoping to end the long reign of the BJP in the state. The BJP and the Congress have dominated the bipolar political landscape in Chhattisgarh, which came into existence in November 2000, and there has been a very limited impact of smaller parties in elections. However, the BSP-JCC alliance will make the contest triangular when the elections are held by the year-end. "The Congress has suffered a setback with the move as it was attempting to take the BSP to his side for the upcoming election in view of the latter's hold among Scheduled Caste population, particularly the Satnami community, in districts like Janjgir-Champa, Raigarh and Bilaspur," veteran journalist Ramesh Nayyar told PTI. However, the development has made the BJP anxious, Nayyar said. The BSP-JCC combination will prompt both the national parties to devise strategies to attract Scheduled Caste and Scheduled Tribe voters, who comprise nearly 50 per cent of the population of the state, and Jogi has considerable influence among these sections, he added. Ajit Jogi's son Amit, a legislator, said only the BSP-JCC alliance is capable of stopping the BJP from coming to power in the state. "BSP chief Mayawati was well aware of the fact that the Congress is a sinking ship. She knows it is only the JCC which has the potential to snatch power from the ruling BJP," said Amit Jogi, MLA from Marwahi seat. "The people of the state will get a better alternative this time and very soon a joint programme of both the leaders (Mayawati and Ajit Jogi) will be held in the state," he said. In the 2013 poll, the BJP had won 49 seats, Congress 39, the BSP 1 and Independent 1. The BJP had secured 41.04 per cent of the total votes polled, the Congress 40.29 per cent and the BSP 4.27 per cent. Ajit Jogi quit the Congress in 2016 and launched his own party.

Congress slams BSP over Jogi alliance, sees BJP role in tie-up

Cyclone 'Daye' lashes Odisha, 2 shutters of upper Kolab dam opened after rise in water level

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