BELAGAVI WEDNESDAY FEBRUARY 28, 2018 `5.00 PAGES 20 LATE CITY EDITION DESPITE IMPORT DUTY CUT, TRUMP SLAMS INDIA AGAIN THE U.S. IS ‘GETTING NOTHING’ Prez Donald Trump said India was not doing the US any “favour” by slashing customs duty on Harley-Davidson bikes to 50% MIMICS ‘BEAUTIFUL’ PM MODI Raising the issue of India’s import duties on motorcycles for the second time in a month, Trump said the US wanted reciprocal trade deals, but was “getting nothing”. Earlier, import of bikes with engine capacity less than 800 cc used to attract 60% duty, while those above 800cc attracted 75% duty ■ ■ “He (Modi) is a beautiful man. And he said, ‘I just want to inform you that we have reduced it to 75, but we have further reduced it to 50’,” Trump said, apparently mimicking PM Modi “And I said, huh. What do I say? Am I supposed to be thrilled?... It’s just not right. And we have many deals like that” 0 WHAT TRUMP SAID THE U.S. GETS WHEN IT BUYS AN INDIAN BIKE CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR PSBs get 15 days to come clean on transaction gaps Finance Ministry also sends missive to state-run lenders to examine all bad loans above B50 crore EXPRESS NEWS SERVICE @ Mumbai/ New Delhi THE worst seems to be far from over for ailing public sector banks (PSBs). Even as the bad loan clean-up exercise is under way, fear of frauds has gripped the sector. On Tuesday the Finance Ministry , sent a missive to state-run lenders to examine all bad loans above `50 crore for possible fraud. It also gave a 15-day ultimatum to PSBs to identify and plug any operational and technical loopholes. This comes on the heels of the Punjab National Bank reporting additional fraudulent transactions of `1,300 crore. The government is well within its reach asking banks to sense-check loans, but the move subtly indicates failed role of the banking regulator, whose core job is to make rules and prevent such occurrences. As per RBI data, accessed by Reuters, state-run banks reported a staggering `8,670 ‘loan fraud’ cases totalling $9.58 billion in the last five financial years. The numbers are suspected to be higher as the figure includes only cases reported to the RBI involving loans of `1 lakh or more. PNB SCAM NOW D12,636 CR The PNB loan fraud scam involving Nirav Modi and Mehul Choksi is now pegged at `12,636 crore with the public sector banker filing another complaint to the CBI alleging a fraud of another `1,251 crore through fraudulent Letters of Undertaking by Gitanjali Group firms. Earlier, the fraud was estimated at `11,385 crore. Meanwhile, Firestar Diamond Inc, the flagship company of Modi, has filed for bankruptcy in the US. According to former RBI Deputy Governor S S Mundra, banks tend to report an account as fraud only when they have exhausted chances of recovery. Delays in reporting frauds slow down efforts of making the modus operandi public, besides delaying action against unscrupulous borrowers by law enforcement agencies, which impact the recoverability aspects, he said. For every loan a bank offers, it should follow a robust appraisal and an effective credit monitoring mechanism during the entire life-cycle of the loan. It’s a ‘seeda rupaiah’ govt, shouldn’t continue: Modi mocks Siddaramaiah E N S @ Davangere PRIME Minister Narendra Modi on Tuesday termed the Congress government in Karnataka, led by Chief Minister Siddaramaiah, as a ‘seedha rupaiah’ gover nment as it is in neck-deep in corruption, and said it should not be allowed to continue “even for a minute.” He also described Congress as the root cause of all problems in the country and urged the people to reject it. Addressing a farmers’ rally here, Modi said that without PM Narendra Modi addressing a farmers’ rally in Davangere on Tuesday money, nothing moves in Siddaramaiah’s government. The pot of ‘sins’ of the Congress government is brimming and people are waiting to overthrow it in the Assembly election. This EXPRESS READ Sridevi’s funeral today, says family MUMBAI: Veteran actor Sridevi’s funeral will take place in Mumbai on Wednesday afternoon, a statement issued by the Kapoor family said. She had died on February 24. Her husband Boney and stepson Arjun Kapoor reached Mumbai at 9.45 pm on Tuesday carrying the mortal remains of the actor in a chartered flight. P8 KARNATAKA BEAT SAURASHTRA IN VIJAY HAZARE TROPHY FINALS P18 is evident from the anguish of the people which he noticed during his visits to the state, he claimed. He also said that time is ticking for Siddaramaiah and he will lose the elections badly . When he asked the crowd whether they need such a corrupt government, he received a thunderous ‘no’ in response. Modi said a new Karnataka will be built by the BJP under the leadership of B S Yeddyurappa. Reiterating his 10% commission remarks, he said this had risen to 12 and 15% depending P5 on the nature of work. Serial rapist-killer ends life in B’luru prison EXPRESS NEWS SERVICE @ Bengaluru IN a major security lapse at the high-security Parappana Agrahara Central Prison, convicted serial rapist and killer M Jaishankar (41) alias ‘Psycho Shankar’ committed suicide by repeatedly slitting his throat and bleeding to death. According to jail officials, Jaishankar slit his throat around 2.15 am with a razor blade. The prison guards on night rounds found him lying in a pool of blood inside the cell and provided first aid before shifting him to Victoria Hospital where he was declared dead at 5.10 am. His family was informed about the incident and they reached the city from his native Salem in Tamil Nadu. The staff at Victoria hospital said Jaishankar was brought in around 4.30 am where he was declared brought dead. “Jaishankar had stolen a new razor blade from the jail barber who routinely visits the cells,” G Somashekar, Chief Super- intendent of the Parappana Agrahara prison, told Express. He also said a departmental inquiry has been ordered into the incident. According to officials, Jaishankar had made a futile attempt to escape from the jail two days ago. They feel he may have ended his life as he was upset about the failed attempt. He was involved in the rape and murder of 11 women in Tamil Nadu, and four women in Karnataka — including the wife of a police constable. He was convicted in three cases of kidnapping and rape.
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