BHUBANESWAR l wednesday l november 18, 2020 l `7.00 l PAGES 12 l JEYPORE EDITION At brics meet, Modi targets Pak for sponsoring terror The PM said terrorism is the biggest global challenge today and countries supporting it must be dealt with an iron fist ‘Hold countries funding terrorism guilty’ India will emerge a force multiplier: pm Without naming Pakistan, Prime Minister Narendra Modi said, “We must tackle the problem in an organised way and have to ensure the countries that support and assist the terrorists are also held guilty.” The summit was hosted by Russian President Vladimir Putin and attended by Brazil’s Jair Bolsonaro, South Africa’s Cyril Ramaphosa and XI Jinping of China | P7 ■ ■ In his address, Modi underlined the need for reforming the United Nations Security Council as well as multilateral bodies like World Trade Organization and the International Monetary Fund Pitching the Atmanirbhar programme, Modi said a self-reliant India would prove to be a force multiplier in a post-Covid world Xi Modi shared stage with the Chinese prez for the 2nd time in a week 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 ■ KALABURAGI SC asks govt to frame RBI places Lakshmi Vilas Bank under moratorium norms on TV reportage S e s a S e n @ New Delhi Chides Centre for skirting application of cable TV Act in affidavit on Tablighi case employed by you. This affidavit has nothing on it.” The Supreme Court on Tuesday The Centre’s affidavit defended gave the Centre a piece of its mind media reporting of the Tablighi for not filing a proper affidavit on event, saying it was largely balanced the media reportage tying and neutral, adding “the methe Tablighi Jamaat congredia has made a clear distincgation in Delhi to the Covid tion between the organisers outbreak, and asked it to and attendees of the Tablighi consider creating a regulaJamaat event and the larger tory mechanism for grievMuslim community in ances against fake news on general.” TV . “First you did not file a 743 orders proper affidavit and then A bench headed by Chief to block Justice of India S A Bobde you filed an affidavit which faulted the information and fake news did not deal with the two imbroadcasting ministry’s afportant questions. This way The Centre’s fidavit for not dealing with affidavit said it it cannot be done Mr Methe applicability of the Ca- had issued 743 hta,” the bench said. ble TV Network Act (CTNA) orders in April Emphasising that self-regin the case. alone to block ulation through the NBSA When Solicitor General fake news over wasn’t good enough, the Tushar Mehta, appearing bench wanted to know if the multiple for the Centre, referred to Centre would create a legal platforms to the News Broadcasters regulatory regime for TV preserve S t a n d a r d s Au t h o r i t y channels and slated the next communal (NBSA), a self-regulatory hearing after three weeks. harmony mechanism set up by the sec“We are not satisfied with tor, the bench said: “Why should we your reply We want to know what ... refer to NBSA when you have the au- is the mechanism to deal with these thority to look into it? If it does not contents on television... Regulation exist then you create an authority ... cannot be left to organisations like We want to know the mechanism NBSA,” the bench said. E x p r e ss N e w s S e r v i c e @ New Delhi The Reserve Bank of India on Tuesday superseded the board of directors of Lakshmi Vilas Bank (LVB), in consultation with the Centre, in view of the serious deterioration in the Chennai-based private bank’s financial position. T N Manoharan, former non-executive chairman of Canara Bank, has been appointed as the administrator. During the 30-day moratorium, the ailing bank cannot make any payment above `25,000 to depositors. However, I n t e r vi e w one can withdraw more for the purposes of medical treatment, education, and marriages with RBI’s permission. Meanwhile, RBI chose a white knight for the cash-starved lender, by Regulator’s observation In absence of any viable strategic plan, declining advances and mounting NPAs, losses are expected to continue. The bank has not been able to raise adequate capital to address issues around its negative net-worth and continuing losses suggesting that LVB merge with DBS Bank India, the local unit of Singapore-based DBS Holdings. “DBIL has a healthy balance sheet with strong capital support. Although DBIL is well capitalised, it will bring in additional capital of `2,500 crore upfront, to support credit growth of the merged entity,” RBI said. The proposed merger will restore normalcy at the beleaguered bank, which is in desperate need of capital. LVB’s gross non-performing assets (NPA) stood at close to 25% at ` Srimandir likely to open in mid-December E x p r e ss N e w s S e r v i c e @ Puri Raghuram Rajan Former RBI governor Stimulus yet to come, says rajan F ormer RBI Governor Raghuram Rajan believes the larger portion of the Centre’s fiscal response to the Covid-19 pandemic was just relief and not stimulus. Q&A on: p10 the end of the second quarter, while net NPA was at a high 7%. For the sixmonth period ending September, the lender’s net loss was at `594.42 crore against `256.17 crore it recorded in the year-ago period. LVB was in talks with Aion Capitalbacked NBFC Clix Capital for a possible merger. A preliminary non-binding letter of intent was also signed between LVB and Clix Capital in June, months after LVB’s proposed deal with IndiaBulls Housing Finance was blocked by the banking regulator. As a political war of words has erupted over opening of religious places in the State, the Jagannath temple is likely to open its doors to devotees during mid-December. The shrine, which has been closed since March 20 due to the Covid-19 outbreak, will be reopened after four weeks and a three-tier process is being initiated for the purpose, said chief administrator of the shrine Dr Krishan Kumar on Tuesday . An administrative body comprising Dr Kumar, Puri Collector, SP and Health officials would set modalities for allowing devotees into the temple following which the Chhattisha Nijog would be consulted on the matter. A proposal would then be sent to the State government for approval. The next temple body meeting on the issue would be held on November 21. Dr Kumar said an annual budget of `154 crore was passed by the temple body at a meeting chaired by Puri king Gajapati Dibyasingh Deb on Tuesday He said owing to closure of . the shrine, earnings have been affect- ed and a plan is being chalked out to augment the income by inviting online donations. Even as the earnings have nose-dived, expenditure has gone up as servitors were provided financial assistance to tide over the Covid-19 crisis. The fifth and final installment of the assistance would be released soon. The temple body also approved the proposal for silver plating of the shrine’s doors in a phased manner. Dr Kumar said more facilities for devotees are being constructed under the ABADHA scheme. These include construction of shelter homes and other basic amenities. He said the temple’s official website and social media handles would be also updated for easy information flow to devotees and CONTINUED ON: P5 tourists.
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