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Trump: Discussed issue with Modi — India, Pakistan can resolve it on their own

Pat on the hand: Prime Minister Narendra Modi with President Donald Trump at a meeting in Biarritz on Monday. APAP

Prime Minister Narendra Modi on Monday categorically rejected any scope for third party mediation between India and Pakistan on Kashmir, saying the two countries could discuss and resolve all issues bilaterally and “we don’t want to trouble any third country.”

Mr. Modi made these remarks while interacting with the media alongside U.S. President Donald Trump, who ahead of his meeting with the Prime Minister had said he would discuss the Kashmir issue with him on the sidelines of the G7 summit in the French town of Biarritz.

“All the issues between India and Pakistan are bilateral in nature, and we don’t want to trouble any third country. We can discuss and resolve these issues bilaterally,” Mr. Modi said.

“When I had called Prime Minister [Imran] Khan after the elections, I told him that Pakistan has to fight against poverty, India has to also fight against it. Pakistan has to fight against illiteracy and disease, and India has to also fight against them...I told him we should work together for the welfare of our people,” he said.

On his part, Mr. Trump said he and Mr. Modi spoke about Kashmir “at great length” on Sunday night and he feels that both India and Pakistan can resolve it on their own.

“We spoke about Kashmir, the Prime Minister really feels he has it [situation] under control. They speak with Pakistan and I’m sure that they will be able to do something that will be very good,” Mr. Trump said.

“I have very good relationship with both the gentlemen [Modi and Khan] and I’m here. I think they can do it [resolve the issue] themselves,” he added.

“We are talking about trade, we’re talking about military and many different things. We had some great discussions, we were together for dinner & I learned a lot about India,” the U.S. President said. Mr. Modi also thanked Mr. Trump for congratulating him after his recent election victory and said their two countries had “shared democratic values.”

Briefing reporters after the talks between Mr. Modi and Mr. Trump, Foreign Secretary Vijay Gokhale said the two leaders had a “very warm, very positive meeting” which lasted 40 minutes.

Record surplus transfer to take care of Centre’s fiscal stress

The Reserve Bank of India (RBI), at its board meeting on Monday, decided to transfer ₹1.76 lakh crore to the Centre — including the interim dividend of ₹28,000 crore paid in February — which is likely to address the precarious fiscal situation of the government to a great extent.

The ₹1.76 lakh crore includes the central bank’s 2018-19 surplus of ₹1.23 lakh crore and ₹52,637 crore of excess provisions identified as per the revised Economic Capital Framework adopted at the board meeting.

The RBI said that as financial resilience was within the desired range, the entire 2018-19 net income of ₹1.23 lakh crore had been transferred.

The RBI had formed a committee, chaired by former Governor Bimal Jalan, to review its economic capital framework and suggest the quantum of excess provision to be transferred to the government. The committee was formed after a demand from the government for more money. The RBI Board has accepted all the recommendations of the Jalan committee.

The panel recommended a clear distinction between the two components of economic capital - realized equity and revaluation balances. It was recommended that realized equity could be used for meeting all risks/ losses as they were primarily built up from retained earnings, while revaluation balances could be reckoned only as risk buffers against market risks as they represented unrealized valuation gains and hence were not distributable.

The committee also recognised that RBI’s provisioning for monetary, financial and external stability risks is the country’s savings for a ‘rainy day’, (a monetary or financial stability crisis), which has been consciously maintained with the RBI in view of its role as the Monetary Authority and the Lender of Last Resort.

“This risk provisioning made primarily from retained earnings is cumulatively referred to as the Contingent Risk Buffer (CRB) and has been recommended to be maintained within a range of 6.5% to 5.5% of the RBI’s balance sheet comprising 5.5 to 4.5% for monetary and financial stability risks and 1.0% for credit and operational risks,” the RBI said in a statement.

The ‘Surplus Distribution Policy’, as recommended by the committee, says only if realized equity is above its requirement, the entire net income will be transferable to the government.

He will be confronted with co-accused

A Delhi court on Monday extended the CBI remand of former Union Finance Minister P. Chidambaram for another four days in the INX Media case.

Extending the remand till August 30, special judge Arvind Kumar Kuhar said: “The reasons for grant of police custody have been given in the order on August 28 [when the former Minister was first sent to police custody].”

Seeking further remand for five days, Solicitor General Tushar Mehta submitted that the investigation could not be completed.

The accused had been confronted with one co-accused, he said, adding that Mr. Chidambaram was to be confronted with some other accused persons. However, he did not reveal the name of the co-accused whom Mr. Chidambaram was confronted with.

A sister probe

Mr. Mehta submitted that certain files concerning the transactions of INX Media were shown to the accused. Some information vis-a-vis his role had been received from sister probe agencies which were being scrutinised and required to be put to the accused, he added.

Also, there were numerous e-mails which were to be co-related with other documents. As regards the allegation of payments of $5 million and $4.5 lakh to the accused, Letters Rogatory had been issued, Mr. Mehta submitted.

Former CM, Congress leader accused of direct involvement

Bhupinder Singh Hooda (left), and Motilal Vora

The Enforcement Directorate has filed a chargesheet against Associated Journals Limited, veteran Congress leader Motilal Vora and former Haryana Chief Minister Bhupinder Singh Hooda for alleged illegal reallotment of a Panchkula plot to the company in 2005.

The chargesheet states that the accused persons were directly involved “in the process or activity connected with acquisition, possession or projection of 'proceeds of crime' i.e. Plot No. C-17, Sector 6, Panchkula to the tune of ₹64.9 crore”.

The agency had earlier attached the plot and the order was confirmed by the Prevention of Money Laundering Act Adjudicating Authority. The ED probe revealed that the property was first allotted to AJL in 1982, but it was taken back by the Haryana Urban Development Authority Estate Officer on October 30, 1992, as the company did not comply with the allotment conditions.

The resumption order attained finality after dismissal of the revision petition in 1996. However, it is alleged that Mr. Hooda, as the then State Chief Minister and HUDA Chairman, misused his official position to reallot the plot to AJL in August 2005 at the original rate, plus interest, in violation of necessary conditions.

“He also did not adhere to the legal opinion of Legal Remembrance, Haryana, and recommendations of HUDA officials and Financial Commissioner of the Town and Country Planning Department. Thus, the Chief Minister caused wrongful loss to HUDA and wrongful gain to AJL,” the ED alleged. The agency said Mr. Hooda further favoured AJL by granting it three undue extensions for construction on the plot from May 2008 to May 2012. The construction work was completed in 2014, it said.

Initiative of Tamil Nadu veterinary college has put it on par with elite, exotic breeds

Microchips have been implanted on 100 dogs in Tirunelveli. Shaik Mohideen. A

An aquiline snout, a slender and streamlined body with long legs and the tail extending like a snake, Chippiparai, the native breed of Southern Tamil Nadu, is an ace runner and hunter. Even though their prominence faded with the advent of exotic breeds, there is a growing interest in local breeds now and the Veterinary College and Research Institute, Tirunelveli, has embarked on creating a database of the Chippiparai, which has already gained distinction as a universal donor of canine blood.

“We implanted microchips in 100 and collected blood samples from 151 dogs that attended the master health check-up and free anti-Rabies vaccination camp,” said Dr. R. Ramprabhu, Professor and Head, Veterinary Clinical Complex, Tirunelveli.

The camp in Tirunelveli was inaugurated by the Tamil Nadu Veterinary and Animal Sciences University Vice-Chancellor Dr. C. Balachandran. He also released the Hand book of Indigenous Dog Breeds of Tamil Nadu.

Microchipping is mandatory for dogs that are members of the Kennel Club of India and the initiative of the Tirunelveli College has gained Chippiparai a status on a par with elite exotic dog breeds in the country.

Each microchip costs around ₹600 and the facility has made it easy for the owners to trace missing dogs. “We have come across a lot of police complaints about missing dogs and claim over ownership. Now the microchip with unique identification number will help establish the ownership,” Dr. Ramprabhu said.

Manikandan, an owner of eight Chippiparai dogs, had microchips implanted in them. K. Pandithurai said four of his dogs were microchipped. As hunting is banned, the owners use the dogs only for guarding farms and houses.

Dr. Ramprabhu said he was confident of creating a database blood for Indian breeds and would go a long way in helping dogs that require blood. The blood typing was done by Dr. G.R. Baranidharan and Dr. Tirumurugan of the TANUVAS Canine Research Centre DBT Scheme. “We distributed identity cards to the dog owners. The donor dogs can enjoy many privileges in our hospital. They need not pay for registration and need not wait in queues,” he said.

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