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Senior Congress leader Mani Shankar Aiyar yet again embarrassed India and this time in Pakistan as he said <keyword id="6354814" type="UNKNOWN" weightage="20" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword> should be removed to resolve issues between New Delhi and Islamabad. 
 
Reportedly, Aiyar made this comment to a Pakistani TV anchor, leaving Congress red faced. 
 
"Hamein le aaiye, inhein hataiye (Bring in the Congress, remove him)," Aiyar reportedly said when asked about how his party, the Congress, suggests the dispute over Kashmir be resolved. 
 Aiyar's comments come days after <keyword id="2674816" type="UNKNOWN" weightage="20" keywordseo="Paris-Attacks">Paris attacks</keyword>, when he had said, “the anti-Islam phobia that is being carried out in the western countries should be stopped immediately. The Muslims living in France should be provided with the assurance that they are also citizens of the country. 
We should also think that why this situation has raised?" 
 
However, the Congress party had distanced itself from the comments on Paris attacks. 
 
"We do not want to associate with Mani Shankar Aiyar. He should make statements after careful consideration. In no way, you can justify... It was an inhuman action in which so many people have been killed," Maken had said. 
 
This is not the first time when Aiyar has slammed Modi. During 2014 general elections, Aiyar had taken potshots at Modi saying, “I promise you that in the 21st century, Narendra Modi will never become the Prime Minister of the country... But if he wants to distribute tea here, we will find a place for him.” 
 
(Image: Indiatimes)

An epic embarrassment: Congress leader Mani Shankar Aiyar makes election pitch in Pakistan to bring his party back, slamming Modi!

<ul><li>Nearly ₹85 of every ₹100 rupees invested by LIC is either government companies or government securities like bonds. </li><li>In 2010, LIC had to shell out ₹11,500 crore to buy government’s shares of REC, NMDC, and NTPC because other investors weren’t forthcoming. </li><li>LIC also owns stake in sick state-owned companies like MTNL and SAIL. </li></ul> The Life Insurance Corporation has bailed the Indian government out many times over the years. But it may not be able to do so, as freely, after the IPO proposed by the Finance Minister Nirmala Sitharaman in her budget speech. If LIC gets disciplined, as promised by the Finance Minister, and plays by the rules of the market, top politicians will not be able to arm twist the insurance giant to bail out the government as and when needed. By December, it’s stock market investments were at ₹31 lakh crore. But nearly 85 of every 100 rupees invested in the market is either government companies or government securities like bonds etc. This portfolio of shares in public sector enterprises has accumulated through multiple bailouts over the years from IPOs to FPOs. In fact, LIC was always the last investor on an IPO date to save face many times after a state-owned company failed to enthuse investors. LIC - the saviour of the state <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State-owned company </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2010 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">REC, NMDC and NTPC </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2014 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2016 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Oil </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2017 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">GIC </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2018 </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Aeronautics </td></tr></tbody></table> In 2010, LIC had to shell out ₹11,500 crore to buy government’s shares of REC, NMDC, and NTPC because other investors weren’t forthcoming. Then the Congress-led government had to rely on LIC to buy the shares of ONGC after a tepid market response to its FPO. The story repeated many times in the next few years. But its biggest contribution was with GIC in 2017 where LIC bought three fourths of the shares offered by the government to the market. In 2018 too, it had to buy 70% of the offer by Hindustan Aeronautics. In fact, LIC also owns stake in sick state-owned companies like MTNL and SAIL. LIC could have been the saviour for many more listed state owned companies, but the Modi government has decided to sell the golden goose itself. LIC is also famous for investing millions whenever stock market tanks, just to prop it up. But once it is listed in the market, these tricks will be impossible to execute. The disclosures will lead to a lot of discontent. <div type="Youtube" id="WYbWln2KsuA" title="The biggest IPO of the next financial year ⁠— LIC" thumbUrl="https://i.ytimg.com/vi/WYbWln2KsuA/mqdefault.jpg"></div>

 Banking on state owned banks There is another part of the problem arising from the number of times LIC has been forced to invest in companies that many others won’t touch with a barge pole. The investments in many loss-making companies, public-sector banks in trouble, will also weigh on the valuation of LIC. LIC owns stake in 21 state-owned banks, 11 of which are buried in bad loans and are under RBI-monitored clean up. If the government wants to get the best price for the shares of LIC, the insurance giant may have to offload the thousands of shares of different companies in the next few months. When shares are sold in bulk, it can drag those individual stocks into an abyss, and dent market sentiment severely. On the flip side, LIC may truly get cleaned up in the process and that is good news for the millions of policy holders in the country. The company’s books and operations have been opaque for far too long but it is trusted by 250 million policyholders. If it has to toe the market regulations, and focuses on its business alone, it has the potential to be at par with some of the world’s biggest insurers. In spite of its forced investments, LIC's deep coffers and wide portfolio has landed it with sizeable profits. Last December, it booked profit worth ₹14,000 crore - making it <a href="https://indianexpress.com/article/business/companies/lic-makes-over-rs-14000-crore-profit-from-markets-till-mid-nov-this-fiscal-6144766/" data-type="tilCustomLink">an attractive company </a>for possible investors. Wetting the beak As <a href="https://www.bloombergquint.com/opinion/the-liabilities-insurance-corporation-of-india">economist Shankar Aiyar recently argued</a>, LIC can even evolve into a bank like many of its global peers like Axa, Berkshire, and Munich Re. But even after the listing, investors must remember that the LIC stock will still be controlled by the Indian government. And, it will continue to exercise some amount of control. So, investors in LIC might face what those of PSU banks do – be a part of poor governance, bad decisions -- despite controlling 70% of the country’s banking system. As the numbers show, the market value of one private entity, HDFC Bank, is more than all the listed government banks put together. A cleaner LIC, accountable to private investors instead of the government, is good for many. A government that is addicted to wetting its beak into the insurer’s kitty year after year is unlikely to let go of the habit just because it is now listed on the stock exchanges. SEE ALSO <a href="https://www.businessinsider.in/budget/news/india-moves-to-unlock-value-from-insurance-behemoth-lic-whose-corpus-is-at-31-lakh-crore/articleshow/73836245.cms">The biggest IPO of the next financial year ⁠— LIC, whose corpus is at ₹31 lakh crore</a>

For LIC IPO to succeed, the life insurance giant has to dump a lot of sick stocks

As<a href="http://www.businessinsider.in/searchresult.cms?query=Yakub+Memon+"> Yakub Memon</a> was hanged this morning after a long-stretched process involving country’s top court and politicians, mixed reactions have started pouring in from all corners of the world. From victims’ kin to the politicians, media houses to commoners, everyone has reacted strongly. But it is the reactions of senior politicians that has shocked the world! 
 
As reported by Times of India, <a href="http://www.businessinsider.in/searchresult.cms?query=BJP">BJP </a>today hit out at <a href="http://www.businessinsider.in/searchresult.cms?query=Congress">Congress </a>leaders including <a href="http://www.businessinsider.in/searchresult.cms?query=shashi+tharoor">Shashi Tharoor</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=digvijay+singh">Digvijay Singh</a> comments, and said their comments were “insult” to the people wanting to get rid of terrorism. 
 
Union minister Ravi Shankar Prasad today attacked on Singh citing his comments "seek to question the judicial process". Prasad said that such comments are regrettable and unfortunate. 
 
As per Prasad, he first chose to stay calm and avoid Tharoor’s tweets against Memon’s hanging, but he was more troubled after Singh’s comments as he holds an important position (Adviser to Congress vice-president Rahul Gandhi). Tharoor, in his tweets dubbed the hanging as "state-sponsored killing”. 
 
Another BJP leader and member of Parliament, Rajiv Pratap Rudy said that he too was “shocked” with Tharoor’s comments. 
 
"Can terrorism remain sans politics? Can the process of justice be discarded by a tweet of a senior member of Parliament," he wondered, adding that the judicial process had been completed in Memon's case before he was hanged today. 
 
Prasad also noted Supreme Court’s exceptional hearing at 3 AM, in which it rejected Memon’s lawyers' last-minute attempt to stay his hanging. 
 
Taking a dig at Tharoor, Rudy said, "If such was his feelings, he should have intervened at right time but not debate an issue when it has been settled." 
 
BJP secretary Shrikant Sharma took on the Congress over its two leaders' comments, saying the opposition party had always spoken in different voice on terrorism. 
 
"Whether it is Mani Shankar Aiyar or Digvijay Singh and we have comments from Tharoor today, they (Congress) have always seen to be speaking for terrorists. It is clear from their statements today that they are insulting the peace-loving people who want to get rid of terrorism," Sharma said. 
 Image: indiatimes

Tharoor, Digvijay’s comments on Memon’s hanging an ‘insult’ to people, says BJP

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An epic embarrassment: Congress leader Mani Shankar Aiyar makes election pitch in Pakistan to bring his party back, slamming Modi!

BI India Bureau

For LIC IPO to succeed, the life insurance giant has to dump a lot of sick stocks

Sriram Iyer

Tharoor, Digvijay’s comments on Memon’s hanging an ‘insult’ to people, says BJP

BI India Bureau

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