BJP

Raju Srivastava files police complaint against imposter for derogatory memes

Oct 252017

After weeks of noticing how his picture was attached to disgraceful jokes about Prime Minister Narendra Modi and other members of BJP that did the rounds on social media, comedian Raju Srivastava has taken matters into his own hands. The comedian lodged a police complaint against an unknown imposter at Oshiwara police station yesterday. In his complaint, Srivastava claimed that the imposter is maligning his image by sharing derogatory posts.

Raju Srivastava

The grievance has been filed under Section 500 of IPC (punishment for defamation), a copy of which is in possession of mid-day. He stated that the imposter used his name with criminal intention “for the purpose of causing annoyance, inconvenience, insult, criminal intimidation and ill-will against me causing damage to my reputation.”

Also read: Raju Srivastava imposter posts anti-Modi comments from fake account

Speaking to mid-day, a livid Srivastava said, “Everyone is entitled to an opinion, but do not use my name. When the joke is not mine, why should I take the blame for it?” He added that the jokes circulated with his picture were in bad taste. “The jokes should be clean and should not target someone. Social media is a great platform to spread good word. Why use it to spread negativity? And don’t use my name or photo for the same.”

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Will he, won’t he? Nitin Gadkari’s fate hangs in the balance as LK Advani bats for Sushma Swaraj as BJP president

News

Jan 202013

The battle for BJP’s top post heated up with party sources saying that veteran leader LK Advani has put forward the name of Sushma Swaraj as party chief. Ever since Nitin Gadkari’s name got dragged in a corruption case and his much publicised rift with Narendra Modi, there has been speculation that the incumbent chief may not get another term as BJP president.

However, the RSS is firmly supporting Gadkari’s extension. The RSS is backing Gadkari for re-nomination and party sources indicate that he is the front runner for the post.

Meanwhile, there is an attempt by many senior party leaders to build a consensus for Sushma Swaraj’s nomination.

The final decision is expected to be announced later in the day today.

RSS chief Mohan Bhagwat at it again, says women should be just housewives and husbands should be the breadwinners

News

Jan 062013

RSS chief Mohan Bhagwat, who stoked a controversy a few days ago saying that rapes do not take place in rural but urban India, has created a fresh row now with remarks that a woman is bound by contract to husband to look after him.

“A husband and wife are involved in a contract under which the husband has said that you should take care of my house and I will take care of all your needs. I will keep you safe.

“So, the husband follows the contract terms. Till the time, the wife follows the contract, the husband stays with her, if the wife violates the contract, he can disown her,” Bhagwat told a rally in Indore on Saturday.

Reacting sharply to Bhagwat’s comment, CPI(M) leader Brinda Karat said, “I don’ think it is really surprising because at the end of the day, this is what RSS is. That is why I think it is the retrogade ‘samiti’ of India. These were the regents who when BJP was in power wanted a new Constitution of India based on ‘manushriti’. So when he talks in this language, he only reflects his ideology.” The RSS chief had created a flutter last week when he had said in Silchar in Assam that rape is mainly prevalent in urban India due to western influence and that such crimes against women do not happen in rural areas of the country.

Youth Congress activists burn an effigy of RSS chief Mohan Bhagwat to protest against his remark on rapes in India, in Bhopal.

The remark that came against the backdrop of the Delhi gangrape incident was slammed by Congress, CPI-M and women’s bodies while BJP and RSS defended it saying the comment should be taken in proper perspective.

Bhagwat had claimed that the incidents of rape were the result of adoption of western culture in society as a whole and that erosion of traditional Indian values were more pronounced in urban areas.

“Crimes against women happening in urban India are shameful. It is a dangerous trend. But such crimes won’t happen in Bharat or the rural areas of the country. You go to villages and forests of the country and there will be no such incidents of gangrape or sex crimes,” he had said.

“Where ‘Bharat’ becomes ‘India’ with the influence of western culture, these type of incidents happen. The actual Indian values and culture should be established at every stratum of society where women are treated as ‘mother’,” Bhagwat had said, demanding that the government take appropriate action to stop rape incidents and RSS will support any government initiative to change existing laws.

On the RSS chief’s husband-wife contract remark, Karat said, “I don’t know if he knows this but in India on the basis of caste system, we have the worst kind of oppression of Dalit and adivasi women.

“When these people talk about ‘Hindu Rashtra’ and Hindutva, it is based on this highly casteist, partriarchal framework and that is why I think what RSS spokesmen are saying reflect their inner thoughts,” she said, adding, “Because they believe women are subordinate to men and women are appendages to men.” RSS spokesman Ram Madhav said the projection of Bhagwat’s views on the marriage system in the Indian context is “totally false”.

“It is totally falsifying his views. He said the western marriage system is contractual where a man and a woman consider marriage as a contract whereas he also went on to say that Indian marriage system is a very sacred institution.

“In this, the woman has a place of great respect and the man has certain obligations towards the family and the way the whole thing was projected was as though Bhagwat was calling Indian marriage contractual. This is total distortion of what he has said,” according to Madhav.

On Bhagwat’s comment on the rape issue, Karat had then said, “Bhagwat neither understands India nor Bharat.” She had said government statistics of atrocities on women and sexual assault showed that the maximum number of victims belong to the poor, Dalit and tribal communities.

National Commission of Women(NCW) Chief Mamta Sharma had said Bhagwat should stop differentiating in terms of geography.

“We are all Indians. We are all citizens of India…Go to grassroots level and see what is the condition of the women there,” she had said.

However, Madhav had said the RSS chief’s statement should be taken in proper perspective.

“He has condemned the heinous crime of assaulting women, rape against women and he said it is an utterly wrong thing and that people who indulge in such things must be punished,” he added.

Gujarat Assembly polls live: Polling ends, 4 hurt in firing by BJP legislator’s bodyguard, MLA detained

News

Dec 172012

Ballotting closed on Monday evening in the second and final phase of the Gujarat assembly elections.

An average 55 per cent voter turnout was recorded till 3 PM in the second phase of Gujarat Assembly elections.

Around 1.98 crore voters will decide the fate of 820 candidates, contesting in the second phase of the election.

Meanwhile, the bodyguard of a BJP candidate and sitting MLA opened fire after some stones were pelted at the leader by some people in Tarsang village, resulting in the injury to four of them.

Jetha Bharwad, the MLA from Sahera in Panchmahal district and seeking a re-election, was later detained, DGP Chittranjan Singh said.

According to Panchmahal SP Sachin Badshah, “When Bharwad reached Tarsang village, suddenly some stone were pelted on him. His commando retaliated and opened 8-10 rounds of fire in which four people were injured, though they all are out of danger now,” he said.

Tarsang village is around 165 km from here.

Police detained Bharwad while he was still undergoing treatment for head injuries at a private hospital in Godhra town of Panchmahal.

“At present, Jetha Bharwad is under detention and further probe is underway to ascertain who exactly fired, Bharwad or his commando,” said Singh.

Meanwhile Congress candidate Takhatsingh Solanki, who is pitted against Bharwad from Sahera, claimed that Bharwad came to the village for bogus voting and that he staged the stone pelting.

“It was pre-planned by Jetha Bharwad so that he can terrorise the voters of my village and resort to bogus voting.

Otherwise he has no business to enter in my village at the time of voting,” Solanki claimed.

-Elections in the second phase are being held in 95 of the 182 constituencies. Counting of votes will be taken up on December 20.

-Of an estimated 19.8 million voters, 10.3 million are male and 9.5 million female.

-There are a total of 820 candidates in the fray including 49 women.

-The BJP is contesting all 95 seats, the Congress 92 and the Gujarat Parivartan Party (GPP) of former BJP chief minister Keshubhai Patel 84.

-Veteran BJP leader L K Advani exercised his franchise at a polling booth in Shahpur area here. Earlier in the day, Leader of Opposition in Rajya Sabha Arun Jaitley and Chief Minister Narendra Modi cast their vote.

-Modi, who is contesting from Maninagar Assembly constituency, is locked in a direct contest with Congress candidate Shweta Bhatt, wife of suspended IPS officer Sanjiv Bhatt.

-A new entrant, Shweta is testing political waters for the first time.

-The constituencies where polling started include 17 in Ahmedabad city, 40 constituencies in five districts-Vadodara, Dahod, Panchmahal, Kheda and Anand-of central Gujarat, 32 seats in five districts -Patan, Mehsana, Sabarkantha, Gandhinagar and Banaskantha-of north Gujarat, and six seats in Kutch district.

Also in the fray are 84 candidates of the Bahujan Samaj Party (BSP) and 284 Independents.

Phase II: Gujarat Assembly Elections 2012

A woman gestures after casting her vote in Gujarat.

About 1.98 crore are eligible to vote in the second phase for which 820 candidates are in the fray. Chief Minister Narendra Modi is contesting from Maninagar in Ahmedabad.

Headlines Today editors and correspondents report from ground zero to give every single detail about the crucial state elections. Full Coverage of Gujarat Assembly Elections 2012

Kartikeya Sharma @kartikeya_197515:10 (IST): Sabarmati river front pic.twitter.com/P5cOHP0s

Mosiqi Acharya @Mosiqi14:30 (IST): LK Advani joins @narendramodi and Arun Jaitley at BJP HQ in ahmedabad. #GujaratElections

Mosiqi Acharya @Mosiqi13:35 (IST): 38% turnout upto 1.00 pm in 2nd phase of #GujaratElections.

Rahul Kanwal @rahulkanwal13:25 (IST): Headlines Today-ORG post poll projections for #GujaratElections start at 5 PM. Cutting edge analysis with @virsanghvi @MalikAshok @GVLNRAO

Mosiqi Acharya @Mosiqi12:50 (IST): BJP MLA Jetha Bharwad shot by rivals in shehra constituency in Panchmahal. BJP accuses Congress of goonda giri. #GujaratElections

Mosiqi Acharya @Mosiqi12:10 (IST): I have cast my vote. 🙂 #GujaratElections pic.twitter.com/9RtKlIxc

12:00 (IST) The Gujarat Congress filed a complaint against Chief Minister Narendra Modi accusing him of violating model of conduct.

In his complaint to the EC, Congress’s legal cell chairman Vijay Kinara accused Modi of using a long convoy when he visited Ranip, which is not his own constituency, to cast his vote earlier in the day during the second phase of polling.

Kinara also alleged that Modi addressed people and flashed victory sign, which he claimed was illegal. He demanded action against the chief minister.

Kartikeya Sharma @kartikeya_197511:50 (IST): Bun maska pic.twitter.com/W1HMIR7r

Kartikeya Sharma @kartikeya_197511:40 (IST): Chunavi chaai pic.twitter.com/9p4nOBPM

Kartikeya Sharma @kartikeya_197511:30 (IST): chaai and bun maska break. Very nice.

11:00 (IST): Congress is aiming to stage a comeback after being out of power for 22 years in the state. Speaking to Headlines Today, Congress leader Shanker Sinh Vaghela said that Congress is confident of winning Gujarat polls with two-third majority.

Kartikeya Sharma @kartikeya_197510:40 (IST): Modi says that high voter turnout means that BJP is in

Kartikeya Sharma @kartikeya_197510:35 (IST): Modi says that he will be voted back to power. Sure of a hat-trick

GAURAV C. SAWANT @gauravcsawant10:30 (IST): After casting his ballot @narendramodi: voter turn out will be even greater than phase I & will benefit BJP. (Cong says no. Advantage Cong)

Kartikeya Sharma @kartikeya_197510:20 (IST): Slight chill in the air in Ahemdabad. It is welcome.

10:15 (IST): Modi, who casted his ballot in Ranip (Ahmedabad), addressed his supporters after polling. Here are the highlights of Modi’s speech:

Gujarat CM Narendra Modi

Gujarat CM Narendra Modi shows the victory sign to his supporters as he reaches to cast his ballot at Ranip.

Our victory would be as grand as big voter turn-out in polls.
People of Gujarat will vote BJP to power for third consecutive time.
Voter trun-out in 2nd phase will surpass the 1st phase of polling.

Mosiqi Acharya @Mosiqi10:10 (IST): On the day of polling @narendramodi wears a saffron kurta.He may’ve stopped talking of hindutva but he’ll never cease to be a hindutva icon.

Mosiqi Acharya @Mosiqi10:00 (IST): People went crazy the moment @narendramodi arrived. The huge smile on his face, his candour charmed the crowd that turned out at Ranip.

10:00 (IST): Narendra Modi is seeking 3rd term as Gujarat chief minister, contesting polls from Maninagar.

9:45 (IST): Suspended Gujarat IPS officer Sanjiv Bhatt’s wife Shweta Bhatt, who is pitted against Modi by Congress, after casting her ballot said that she is absolutely positive as she is fighting for the society.

9:30 (IST): Gujarat Chief Minister Narendra Modi reaches Ranip to cast his vote amid much fanfare.

Mosiqi Acharya @Mosiqi9:26(IST): ‘I have no expectations,’ says Jagruti Pandya, widow of slain BJP leader Haren Pandya. Pandya fighting her first elections.

Mosiqi Acharya @Mosiqi9:25 (IST): JAGRUTI PANDYA, widow of slain Haren Pandya has been fielded by Gujarat Parivartan Party from ellisbridge.

Phase II: Gujarat Assembly Elections

Voters stand in a queue to cast their vote at a polling station in Gujarat.

Mosiqi Acharya @Mosiqi9:20 (IST): At Ranip in Ahmedabad where @narendramodi will cast his vote at 9.30am. #GujaratElections

Kartikeya Sharma @kartikeya_19758:40 (IST): Went to a temple with Vaghela. he says it is make or break for Congress.

Ponty shootout case: Delhi BJP seeks inclusion of Congress ministers’ names in FIR as co-accused

News

Dec 152012

The Bharatiya Janata Party (BJP ) on Friday demanded that Delhi ministers Arvinder Singh Lovely and Haroon Yusuf be named as co-accused in the FIR registered in the Chhatarpur farmhouse shootout, which killed businessman Ponty Chadha and his brother Hardeep Singh, last month.

The party also demanded a judicial inquiry into the links of Lovely and Yusuf with Hardeep.

Two days after a MAIL TODAY investigation revealed the details of the telephonic communication between Hardeep and the two ministers on the day of the shootout and before that, the BJP upped the ante against the Delhi Congress, demanding the immediate resignation of the two cabinet ministers.

Four BJP MLAs flashed copies of the report in the assembly on Friday and sought a discussion on the issue.

“It is a serious issue and we have to know what links the two ministers had with Ponty and Hardeep Chadha. This matter is more important. Other issues can be discussed later,” Sat Prakash Rana, BJP MLA from Bijwasan, said.

“The call records show that the two ministers were constantly in touch with Hardeep. We doubt that Hardeep’s company had got a contract for cluster buses from the transport department because of his equation with the ministers,” said Sunil Vaidya, BJP MLA from Trilokpuri, who raised the issue in the Assembly along with Moti Nagar MLA Subhash Sachdeva and Dwarka legislator Pradyuman Rajput.

Delhi chief minister Sheila Dikshit refrained from commenting on the case. “I can’t launch an investigation into the matter. The investigation agencies are doing their job,” she said.

Demanding police action against the two ministers, state BJP president Vijender Gupta said, “They (Lovely and Yusuf) are protecting the criminals. They should be named as coaccused in the FIR.”

Gupta claimed that both the central and the Delhi government were pressurising the city Police not to interrogate Lovely and Yusuf regarding the shootout.

“Hardeep and Lovely exchanged five calls every day and even conversed minutes before the shootout. It has to be investigated. Amit Shah was interrogated by the Gujarat Police when he had exchanged only two calls,” Gupta said.

“They are part of the episode that took place at Chhatarpur on November 17 (shootout) and police should dig out the truth. We would fight till the end to unravel the truth,” Gupta added.

According to Gupta, the government tried to suppress the case but it failed because the ‘vigilant media’ exposed the entire conspiracy. He further cautioned that if both the ministers continue to hold their positions they might destroy the proof and threaten, witnesses and hamper impartial enquiry.

The BJP would raise the issue in Parliament on Monday. To build more pressure on the Delhi government, the Opposition party will organise protests at Azad Nagar Chowk and Bara Hindu Rao on Saturday.

Namdhari plea rejected

Sacked Uttarakhand minorities panel chief S.S. Namdhari’s plea for a separate vehicle to transport him from jail to the court on account of an alleged threat to his life was rejected by a Delhi court.

Sukhdev Singh Namdhari

Sukhdev Singh Namdhari, a prime accused in Ponty shootout case

Namdhari, prime accused in liquor baron Ponty Chadha’s shootout case, has been lodged in jail in connection with killing Ponty’s brother Hardeep.

The plea was moved by Namdhari on Thursday, when he was produced before the court of Metropolitan Magistrate Gaurav Rao on the expiry of his judicial custody.

Namdhari’s counsel said other under-trials attacked and injured his client on Thursday, when he was being brought to the court.

The court had on Thursday remanded Namdhari and his personal security officer Sachin Tyagi to judicial custody till December 27.

Ponty and Hardeep, who had an ongoing property dispute, were killed in a shootout at their Chhatarpur farmhouse here on November 17 afternoon, since then the police have arrested 10 people including Tyagi and Namdhari in various criminal cases linked to the incident.

The police have booked Namdhari on charges of murder. The police told the court that from the probe, it has been established that Namdhari played a vital role in the conspiracy with other co- accused, who acted on his orders.

Meanwhile, the court sent Simranjeet Singh and Jagbir Singh, members of Namdhari’s Khalsa Sena, to police custody till December 18. It is alleged that both of them helped Namdhari and Ponty gain access to the Chhatarpur farmhouse and forcibly occupy it.

Not interested in politics but cricket: Irfan Pathan

Sports

Dec 132012

Not interested in politics but cricket: Irfan Pathan Vadodara: A day after he shared the stage with Gujarat Chief Minister Narendra Modi at a poll rally, cricketer Irfan Pathan today said nothing much should be read into it as he was an “apolitical” person and concentrating on his game.

“Neither do I have any connection to politics nor am I interested in it. I am a cricketer and currently recovering from an injury that I had suffered while playing for the home team of Baroda in Ranji Trophy tie,” he told PTI.

Eyebrows were raised after the 28-year-old all-rounder shared the dais with Modi in the BJP campaign rally at Kheda for the second phase polling due on December 17.

Polling for 87 Assembly seats was held in the first phase today.

BJP has been trying to woo minority community voters in the state though it has not fielded any Muslim candidate in the elections.

During the rally, Irfan was seen standing alongside the BJP stalwart on the huge stage.

Irfan, who belongs to Vadodara and has been forced out of cricketing action by an injury, waved his hands to a huge gathering of supporters, who had come to listen Modi`s speech.

In September 2011, Modi had launched `Sadbhavana Mission` for `peace and amity` and to appease minority community voters.

PTI

Narendra Modi taking undue credit of common man`s toil in Gujarat: Rahul Gandhi

News

Dec 132012

Palanpur: In an apparent attempt to invoke the Gujarati pride in the poll bound state, Congress general secretary Rahul Gandhi took potshots at Chief Minister Narendra Modi on Thursday, saying the BJP stalwart is pursuing his personal agenda at the expense of the common people.

“Here you toil hard and sweat it out… But it is only one man who takes the credit in Gujarat…What is your strength?.. Strength of Gujarati small businessman who run the economy of Belgium… Small artisans of Gujarat…You run Belgium… But your voice is not heard here,” Gandhi said in a veiled attack on Modi.

He was addressing an election rally in diamond polishing hub of Palanpur.

The voting for the final phase in Gujarat will be held on December 17.

Reiterating his earlier charge that the voice of common man is “gagged” in Gujarat, the Amethi MP said, “In Gujarat, the voice of the poor and the weak is not heard. Only one man’s voice can be heard…And there are two or three corporates who are heard”.

In an apparent reference to Modi, the Congress leader said “He thinks whatever happens in Gujarat, he does it. Whatever progress takes place here is done by him only”.

This is the second time that Rahul is electioneering in Gujarat.

“The duty of a politician is to understand people’s dreams…. And keep his dreams aside…In Gujarat, only one man’s dream prevails…Your dreams are never even asked about …” he added.

Recalling that former prime minister Rajeev Gandhi ushered in “revolution” by bringing in mobile phone.

“You have a mobile phone. Who brought it? Rajivji… What happened…A revolution came and your voice started getting heard…Who was standing with Rajivji…Sam Pitroda from Gujarat,” he added.

“Tell me how much water do you get? How much water do farmers get here…Do youths get employment?,” Rahul asked to which the public replied in negative.

“Voice of adivasis, farmers and labourers is not allowed to be raised,” he alleged.

Taking on the Gujarat government for not appointing Lokayukta, Rahul said the government was purposefully not responding to RTI applications and thus corruption is going unnoticed.

“When it comes to corruption, we brought RTI. Common man should get to know what happened here. The state government here says people of Gujarat should not get it (RTI). Many RTI applications are pending here…Jan Lokpal Bill was stalled by the BJP in Parliament and here we don’t have a Lokayukta,” Rahul said.

Trying to strike a chord on Vallabh Bhai Patel, Rahul said, “When we moved ahead to fulfil the dream of Sardar Patel that no one should remain hungry in India by introducing Right to Food Security Bill, they (BJP) obstructed (it) in Parliament… They are trying to snatch away the voice of poor”.

Modi often invokes the first Union Home Minister of the country, who hailed from Gujarat, in his speeches.

Alleging that basic issues in Gujarat concerning the common man stand unresolved, Rahul took a dig at Modi over the Nano car project.

“You know for every Nano car you pay Rs 60,000….But you get nitrate in water here,” he said.

Accusing the state government of, “purposefully delaying allotment of land to tribals”, alloted by Congress, till elections get over, Rahul said, “About 1.5 lakh adivasis have not got their land”.

PTI

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First Published: Thursday, December 13, 2012, 21:04

Gujarat polls: Keshubhai’s party may play spoilsport to BJP in Saurashtra

News

Dec 122012

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Kailash Kher, Ali Zafar and Amanat Ali got musical at Agenda Aaj Tak 2012.

Ali Zafar’s musical tribute to Madhuri Dixit

Ali Zafar sings in praise of Madhuri Dixit’s timeless beauty.

Kareena,Imran team up for Karan’s movie

Kareena Kapoor will soon start shooting with actor Imran Khan in Bangalore.

Grammy face-off: Anoushka Shankar against father

Pt Ravi Shankar and his daughter Anoushka both are nominated in the same category.

I’ll be fine, no matter what the outcome: Manisha

Manisha Koirala has assured fans that she is in “good hands”.

First phase of Gujarat polls today, BJP rebel Keshubhai in fray

News

Dec 122012

Almost half of Gujarat would exercise their franchise on Thursday for 87 seats in the first phase of the 182-member Gujarat Assembly elections where 1.81 crore voters will decide the fate of 846 candidates.The polling will take place in 48 constituencies in 7 districts of Saurashtra, on 35 seats in five districts of southern Gujarat and on four in Ahmedabad District.

Gujarat voters

1.81 crore Gujarat voters will decide the fate of 846 candidates in Gujarat Assembly polls.

Fourth-eight seats in Surendranagar, Rajkot, Jamnagar, Porbandar, Jamnagar, Amreli and Bhavnagar are considered very crucial and decisive as political observers are watching keenly on how former Chief Minister and ‘bete noir’ of Chief Minister Narendra Modi, Keshubhai Patel factor plays out in the region.

On Thursday, voters will also decide the fate of many state political big-wigs who are contesting elections like Keshubhai Patel, Assembly Speaker Ganpat Vasava, Gujarat BJP president R C Faldu, state Congress president Arjun Modhwadia and Leader of Opposition Shaktisinh Gohil.

Gujarat voters

For first phase, BJP has fielded candidates on all 87 seats going to the poll, whereas Congress is contesting on 84 and GPP on 83.

State ministers like Vajubhai Vala, Vasuben Trivedi, Narottam Patel, Mangubhai Patel, Purshottam Solanki, Kiritsinh Rana, Dilip Sanghani, Kanubhai Bhalala, Mohan Kundaria and Ranjit Gilitvala will also be awaiting their fate following tomorrow’s voting.

For this phase, BJP has fielded candidates on all 87 seats going to the poll, whereas Congress is contesting on 84 and GPP on 83.

Apart from these three major parties, there are total 26 political parties and 383 independents in the fray, which include BJP rebel and sitting MLA Kanubhai Kalsaria, who has formed a new forum – Sadbhavna Manch – and fielded six candidates.

Thursday’s voting will also decide if Leuva Patel, a politically powerful sub-community of Patidars will be swayed by the appeals and behind the curtain efforts to vote against the Modi government, on the plank of alleged injustice meted out to their leader Keshubhai Patel.

Out of total 1,81,77,953 voters there are 95,75,278 male, 86,02,557 female and 118 other voters are likely to exercise their franchise.

Among the 846 candidates, 46 female candidates too are in the fray and in the first phase of elections there are 9 such Assembly constituencies where more than one woman candidate is contesting this time.

Forty sitting MLAs from BJP and 16 from Congress are also contesting to retain representation in the state Assembly.

In the last ditch efforts to woo the voters going to the poll in the first phase, both the major political parties had used their maximum strengths with Congress bringing UPA chairperson and party president Sonia Gandhi, Prime Minister Dr Manmohan Sinh and Rahul Gandhi for the campaigning.

While BJP, apart from its star campaigner Narendra Modi, brought L K Advani, Navjotsingh Siddhu, Paresh Rawal and Smriti Irani. At the same time, Modi also increased the public meetings through 3D holographic projection technology to reach to the maximum number of voters.

This phase will also see important contests on Visavadar where Keshubhai Patel is pitted against BJP’s Kanu Bhalala. In Kutiyana, son of ‘God Mother’ Santokhben Jadeja and NCP candidate Kandhal is contesting against Karsan Dula Odedara.

In another interesting contest, Leader of Opposition Shaktisinh Gohil is facing Rs 400 crore fishing contract scam tainted minister Purshottam Solanki.

Fate of three Congress MPs, Vithhal Radadia (Dhoraji), Kunvarji Bavalia (Botad) and Somabhai Patel (Limbadi), will be sealed tomorrow as they are also contesting this Assembly elections.

Voting of the second phase will take place on December 17 for the remaining 95 Assembly seats and counting will be held on December 20.

RBI tweaks CAR norms for NBFCs

Economy

Dec 122012

The author has posted comments on this articleTNN | Dec 13, 2012, 05.45AM IST
MUMBAI: Stocks of finance companies rose in intra-day trade on Wednesday on news that BJP had reached an agreement with the government on passing the Banking Regulation Amendment bill.

Stocks of companies that were keen on banking licence, including Reliance Capital and Larsen & Toubro Finance Holdings, closed more than 4% higher. Others such as M&M Finance and Shriram Transport Finance were up in intra-day trade but closed almost flat. Although the government has been nudging RBI to issue a few bank licences to corporate houses, the central bank has been holding back on the grounds that the centre should first enact amendments to the Banking Regulation Act giving more powers to the central bank.

Among other things the amendments will give RBI the power to supersede bank boards. It will also allow the central bank to inspect books of conglomerates that have a bank in their group. Once the amendments are in force any potentially large investor in a bank will need to take RBI permission before buying shares.

While Banking Regulation Bill raises hopes for NBFCs, there are also new regulatory challenges. RBI has issued new prudential norms based on recommendations of a committee headed by Usha Thorat. The new norms require NBFCs to have a tier-one capital adequacy ratio (CAR) of 12% by April 2014. At present, the tier-I requirement is 7.5% for NBFCs except those in infrastructure where it is 10% and for those lending against gold where it is already 12%.

Non-banking finance companies are also required to adhere to the same norms as banks for classifying an advance as a bad loan. At present , if a borrower does not repay a loan for 180 to 360 days the advance has to be classified as a bad loan compared to 90 days for banks. “It has been decided that the asset classification and provisioning norms should, in a phased manner, be made similar to that of banks for all registered NBFCs irrespective of size. The same will be implemented in phases, viz; a 120-day norm shall be applied from April 01, 2014 to March 31, 2015 and a 90-day norm thereafter. A one-time adjustment of the repayment schedule which shall not amount to restructuring will, however, be permitted,” RBI said.

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