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Lok Sabha Election 2019 candidate list for Karnataka

<keyword id="64190" type="POSITION" weightage="20" keywordseo="RBI-Governor">RBI Governor</keyword> <keyword id="6358908" type="PERSON" weightage="100" keywordseo="Raghuram-Rajan">Raghuram Rajan</keyword> said three-year term for a central bank chief is short, calling for a longer term. 
 
While briefing Parliament's Standing Committee of Finance, Rajan said, “a three-year term is short. 
 On whether it should be five years, Rajan is believed to have cited the case of US <keyword id="6355253" type="ORGANIZATION" weightage="20" keywordseo="Federal-Reserve">Federal Reserve</keyword>. 
 
In the US Fed, in addition to serving as members of the Board, the Chairman and Vice-Chairman serve terms of four years and may be reappointed to those roles who in turn serve until their terms as Governors expire. 
 
Rajan, whose current three-year tenure ends on September 4, has already said no to a second term. 
 Sources further said that during the meeting that lasted for over three hours, the Governor briefed the panel, headed by senior Congress leader M <keyword id="6369803" type="PERSON" weightage="20" keywordseo="Veerappa-Moily">Veerappa Moily</keyword>, on state of the economy, reforms and restructuring of RBI, challenges in the banking sector in India and the way forward. 
 
The committee was apprised by Rajan of the various steps taken to deal with the bad loan problem, said the sources. 
 
The Reserve Bank has said the gross non-performing assets of the banks can rise to as high as 9.3 per cent in 2016-17 after hitting 7.6 per cent in March 2016. 
 
Rajan, the sources added, also briefed MPs about the credit scenario of the banks. He is believed to have told the MPs that private lenders are more active on the lending front, but PSU banks are found to be reluctant even when there is no shortage of funds. 
 The Governor also explained to MPs the impact of <keyword id="6355333" type="UNKNOWN" weightage="20" keywordseo="Brexit">Brexit</keyword> on India and the global economy. 
 
Earlier in the day, Rajan called on Finance Minister Arun Jaitley as the central bank and the government seek to quickly put in place a new interest rate-setting mechanism.

Raghuram Rajan pitches for longer tenure for RBI Governor, says three years is short

NEW DELHI: Delhi chief minister <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword> on Tuesday launched a fresh offensive against <keyword id="45442" type="COMPANY" weightage="40" keywordseo="Reliance-Industries-Limited">Reliance Industries limited</keyword> accusing the company of creating artificial shortage of gas in the country and conspiring to raise its price. 
 Kejriwal said he has ordered the anti-corruption branch to file a criminal case against Mukesh Ambani and former <keyword id="60115" type="POSITION" weightage="40" keywordseo="Oil-minister">oil minister</keyword> <keyword id="45314" type="PERSON" weightage="40" keywordseo="Murli-Deora">Murli Deora</keyword> and present oil minister Veerappa Moily in connection with a complaint received by the <keyword id="6354952" type="ORGANIZATION" weightage="40" keywordseo="Delhi-Government">Delhi government</keyword> against the pricing of gas produced from the D6 block in the east coast. 
 
FIR will also be lodged against VK Sibbal, former DG hydrocarbons. 
 
Kejriwal said the anti-corruption branch had received a complaint from four eminent people against Reliance. According to Kejriwal, in the complaint it was stated that some central ministers conspired to ensure windfall gains for Reliance in the gas deal. 
 Reliance had initially agreed to supply gas to utility <keyword id="173098" type="CITY" weightage="40" keywordseo="NTPC-Ltd">NTPC Ltd</keyword> at about $2.3 per million British thermal units (mBtu) for about 17 years, Kejriwal said. 
 
But price of gas from the D6 block was fixed at $4.2 per mBtu when Deora was oil minister. 
 
The Delhi CM said there was a move to raise the price of gas from the existing $4 per unit to $8 per unit from April 1. If the rates are increased, it will lead to chaos as prices of everything will go up, he said. 
 
He said he would be writing to the Prime Minister to put on hold the order to increase the price of gas till the probe by anti-corruption branch was over. 
 
In his letter, he will also request the PM to ensure that all concerned ministries cooperate in the probe. 
 
Reacting to Kejriwal's charges, Verrappa Moily said, "I should sympathize with him,he should know how govt functions,there is certain system to fix prices." 
 
(With inputs from agencies)

Kejriwal Orders FIR Against Mukesh Ambani, Moily And Murli Deora Over Gas Prices

<keyword id="2224" type="PERSON" weightage="20" keywordseo="Congress-President-Sonia-Gandhi">Congress president Sonia Gandhi</keyword> has set up three separate committees for discussing policy issues related to economic affairs, foreign affairs and national security, with former prime minister Manmohan Singh part of all the three panels. While former finance minister P Chidambaram, and party leaders Mallikarjun Kharge and <keyword id="6385492" type="PERSON" weightage="20" keywordseo="Digvijaya-Singh">Digvijaya Singh</keyword> will be part of the economic affairs committee, Jairam Ramesh will be its convener. The committee on foreign affairs will have Anand Sharma, <keyword id="42749" type="COMPANY" weightage="20" keywordseo="Shashi-Tharoor">Shashi Tharoor</keyword>, Salman Khurshid and Saptagiri Ulaka. Khurshid will be the convener of the panel. The committee on national security will have leader of opposition in Rajya Sabha Ghulam Nabi Azad, party leaders Veerappa Moily, Vincent H Pala and V <keyword id="927122" type="PERSON" weightage="20" keywordseo="Vaithilingam">Vaithilingam</keyword>, with Pala as its convener. "The Congress president has constituted three committees to consider and discuss issues and policies related to the subjects of economic affairs, foreign affairs and national security," an official statement from AICC general secretary KC Venugopal said. Incidentally, among those nominated in the committees include senior party leaders Ghulam Nabi Azad, Anand Sharma, Veerappa Moily and Shashi Tharoor, who were part of the 23 letter-writers seeking an organisational overhaul of the Congress. While Sharma is the chairman of the AICC foreign affairs department, Shashi Tharoor heads the party's Professional Congress. SKC AAR

Sonia Gandhi sets up panel to discuss national security, economic and foreign affairs, Manmohan Singh to head all three panels

Election 2019: Congress candidates list for Karnataka

Election 2019 Janata dal secular candidates list for Karnataka

Karnataka winner candidate list for Lok Sabha Election 2019

Home to India's Silicon Valley Karnataka swept by Modi wave

RBI Governor Urjit Patel today attributed the banks grappling with high bad loans to legacy issues saying they are mostly on account of credit facility provided for long-gestation projects before 2011-12, according to the PTI. 
 
He further said the problem of non-performing assets (NPAs) was earlier also but it is only recently that the issue is being recognised. 
 
Patel said that sectors in which bad loans have emerged over the years pertain to long-gestation projects, which were mostly funded before 2011-12. 
 
"Therefore ...by definition, this proportionate amount is a legacy issue, although the recognition and reporting of these have taken place only recently," the RBI Governor said. 
 
Finance Minister Arun Jaitley after addressing the RBI board said a legal and executive framework to deal with NPAs has been put in place by the government as its resolution is an ongoing process. 
 
Jaitley also said the bad loans figure has increased owing to emergence of some new NPAs or loans that have been continuing. Congress leader Veerappa Moily had recently raised the bad loans issue in Parliament and said the NPAs figure has grown since 2014. 
 
"I was in Parliament responding to a comment which Moily had made. What was figure in 2014, then 2015, 16, 17 it increased. So I had said these are all loans which have been continuing and what's have been added is either the discovery of some non-performing assets as a result of some exercise that RBI had directed to be undertaken and also the interest factor has increased," Jaitley said. 
 
After the AssQuality Review (AQR), there was huge surge in NPA. In the third quarter of the last fiscal alone, NPAs rose over Rs 1-lakh crore. 
 
"Now resolution of these is an ongoing process...Now for individual bankers to get into exercise of resolving each one of the pending issues," he said. 
 
On when the RBI will be able to come out with the figures of scrapped notes which have been deposited with the banks, the Governor said the number that should divulge should be a verified number and a number that is congruent with the complex accounting. 
 
"Given that the window is open until March 31 and then at a lower level until June 30 we need to be careful and try as hard as possible that this is a number that is not a mere estimate but a verifiable number both physically and in accounting stance," he said. 
 
Following the shock demonetisation announcement on November 8, the government had asked people to deposit old notes in banks by December 30. 
 
Indians who were abroad during November 9 to December 30 have been given a 3-month grace period till March 31 to deposit the junked notes, while for the NRIs, it is 6 months till June 30. 
 
Earlier this week, RBI Deputy Governor S S Mundra said the final numbers can only be revealed after counting the notes deposited in cooperative banks, receipt of information from Nepal and Bhutan and close of the window for deposit of notes by NRIs.

RBI governor blames long-gestation
projects for banks suffering from bad loans

Lok Sabha Election 2019 Second Phase - 95 Constituency Candidate List from Key Parties

NEW DELHI: He was one of the 4,500 guests but Delhi CM <keyword id="260213" type="PERSON" weightage="100" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword>, in his maiden outing at President <keyword id="9937" type="COMPANY" weightage="40" keywordseo="Pranab">Pranab</keyword> Mukherjee’s ‘At Home’, stole the show. 
 
Wearing his trademark maroon sweater, muffler and floaters, Kejriwal stood in the sprawling Mughal Gardens as India’s swish set vied for autographs, pictures and sometimes just a handshake with him. 
 
It was a power moment that no one in the establishment may have imagined. Two years ago, Kejriwal had negotiated with Mukherjee, chairman of the joint drafting committee, on the Lokpal bill and had returned empty-handed. On Saturday, the two displayed a public difference of opinion. Mukherjee spoke against “populist anarchy” and Kejriwal defended his dharna as constitutional. On Sunday, as Mukherjee gave an audience to invitees from the world of diplomacy, politics, administration, arts and media, Kejriwal held a parallel durbar. 
 
Men and women showered him with unabashed praise. Several ambassadors and bureaucrats took the opportunity to introduce themselves to Kejriwal who was accompanied by his Cabinet. German ambassador Michael Steiner sought a meeting with Kejriwal for German President Joachim Gauck who is visiting India next month. The request, it emerges, was turned down by the CM’s office. Kejriwal assured him that it would be rescheduled. Another diplomat shared a joke, saying how his broken Hindi left him confused about the party’s name initially (he thought aam only meant mango). 
 The power elite gave up its pretensions, some offered him advice and encouragement, some said they were inspired and others sought his time. The CM even received a muffler as a present. The argumentative asked why he had sat in the VIP enclosure at the <keyword id="6416557" type="PERSON" weightage="100" keywordseo="Republic-day">Republic Day</keyword> parade or why his party’s name had no mention of the “aam aurat”. To them all, Kejriwal gave a patient ear. In fact, the <keyword id="6356115" type="CITY" weightage="40" keywordseo="AAP">AAP</keyword> durbar went on well after the President and the PM had left the venue till security personnel stepped in to guide Kejriwal to the exit. 
 
Mukherjee too was his accessible self, meeting people gathered in the Rashtrapati Bhavan lawns. Visiting Japanese PM Shinzo Abe also met the invitees. 
 Later, <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword> president Sonia Gandhi and BJP leader Sushma Swaraj got up from their chairs in the VIP enclosure and mixed with the crowd. 
 Other dignitaries present were Vice-President <keyword id="6491214" type="PERSON" weightage="40" keywordseo="Hamid-Ansari">Hamid Ansari</keyword>, Prime Minister Manmohan Singh, <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> Speaker Meira Kumar, home minister Sushil Kumar Shinde, besides BJP leaders L K Advani and Arun Jaitley. Cabinet ministers P Chidambaram, Veerappa Moily and A K Antony were also present. 
 
Sources said close to 4,500 people had turned up. Rashtrapati Bhavan had issued e-invites this year and the entrances were manned by bar-code scanning personnel. About 60% of the invites were sent out through e-mail, bringing down costs and resources as part of Rashtrapati Bhavan’s greening exercise.

Republic Day: President Pranab Hosts The Show, Kejriwal Steals It

NEW DELHI: Parliament on Wednesday passed the crucial <keyword id="6356353" type="UNKNOWN" weightage="100" keywordseo="lokpal">Lokpal</keyword> Bill with the <keyword id="6355187" type="ORGANIZATION" weightage="40" keywordseo="Lok-Sabha">Lok Sabha</keyword> adopting the measure as amended by the Rajya Sabha after a short discussion. Following are the salient features of the amended Lokpal Bill. 
 
1. Lokayuktas: The new bill mandates states to set up Lokayuktas within 365 days. States have the freedom to determine the nature and type of Lokayukta. 
 
The old bill said the law shall be applicable to states only if they give consent to its application. 
 
The old bill gave power to the central government to appoint state Lokayuktas while the new draft gives this power to the states. 
 
2. Constitution of Lokpal: The Lokpal will consist of a chairperson and a maximum of eight members, of which fifty percent shall be judicial members. Fifty percent members of Lokpal shall be from among SC, ST, OBCs, minorities and women. 
 The older version said the chairperson shall be the <keyword id="42759" type="POSITION" weightage="40" keywordseo="Chief-Justice">Chief Justice</keyword> of India or a present or former <keyword id="18182" type="POSITION" weightage="40" keywordseo="Judge">judge</keyword> of the <keyword id="6354977" type="ORGANIZATION" weightage="40" keywordseo="Supreme-Court">Supreme Court</keyword> or a non-judicial member with specified qualifications (chief justice or a judge of a high court). 
 
3. Selection of Lokpal: The selection committee will have <keyword id="71" type="POSITION" weightage="40" keywordseo="Prime-Minister">Prime Minister</keyword>, Lok Sabha Speaker, leader of the opposition in Lok Sabha and the Chief Justice of India. A fifth member of the selection committee for selection of Lokpal under the category of "eminent jurist" may be nominated by the <keyword id="2540" type="POSITION" weightage="40" keywordseo="President">President</keyword> on the basis of recommendation of the first four members of the selection committee. 
 
In the old bill, selection of the fifth person was left entirely to the President. 
 
4. Religious bodies and trust: The new bill includes societies and trusts that collect public money, receive <keyword id="6357455" type="EVENT" weightage="40" keywordseo="Funding">funding</keyword> from foreign sources, and have an income level above a certain threshold, it excludes bodies creating endowments for or performing religious or charitable functions. 
 
The old bill expanded definition of public servant by bringing societies and trusts which receive donations from the public (over a specified annual income) and, organisations which receive foreign donations (over Rs 10 lakh a year) within the purview of the Lokpal. 
 
5. Prosecution: In the new version, before taking a decision on filing a chargesheet in a case upon consideration of the investigation report, the Lokpal may authorise its own prosecution wing or the concerned investigating agency to initiate prosecution in special courts. 
 
Under the old bill, prosecution of the case could be done only by the prosecution wing of the Lokpal. 
 
6. Central Bureau of Investigation: For independence of the CBI, in the new bill a directorate of prosecution will be formed. Appointment of the director of prosecution will be on the recommendation of the <keyword id="403158" type="POSITION" weightage="40" keywordseo="Central-Vigilance-Commissioner">Central Vigilance Commissioner</keyword>. 
 
Transfer of officers of CBI investigating cases referred by Lokpal will be only with the approval of Lokpal who will also have superintendence over CBI in relation to Lokpal referred cases. 
 
7. Hearing: The new bill says a government servant will get a hearing before a decision is taken by the Lokpal. 
 
8. Prime Minister: The Prime Minister will be under the purview of the Lokpal with subject matter exclusions and specific process for handling complaints against the Prime Minister. 
 
9. Investigation: Inquiry has to be completed within 60 days and investigation to be completed within six months. Lokpal shall order an investigation only after hearing the public servant. 
 
Inquiry against the prime minister has to be held in-camera and approved by two-thirds of the full bench of the Lokpal. 
 
10. Penalty: False and frivolous complaints - imprisonment up to one year and a fine of up to Rs.1 lakh. Public servants - imprisonment up to seven years. Criminal misconduct and habitually abetting corruption - jail term up to 10 years. 
 
 
Lokpal’s journey to transparency 
 
1966 
 <keyword id="238033" type="PERSON" weightage="40" keywordseo="Morarji-Desai">Morarji Desai</keyword> led First Administrative Reforms Commission recommends setting up of Lokpal at Centre and Lokayukta in states to look into complaints against public functionaries, including MPs 
 
1968-2001 
 
Successive governments introduce Lokpal bill eight times 
 
2002 
 
Justice MN Venkatachaliah led Constitution Review Commission stresses the need for Lokpal and Lokayuktas 
 
2004 
 
UPA-I's national common minimum programme promises that Lokpal bill would be enacted 
 
2005 
 
Veerappa Moily led Second Administrative Reforms Commission reiterates that Lokpal be established without delay 
 
2011 
 Jan: UPA-II's GoM headed by <keyword id="6359124" type="PERSON" weightage="40" keywordseo="Pranab-Mukherjee">Pranab Mukherjee</keyword> suggests a range of anti-corruption measures, including the Lokpal bill 
 Apr 5: <keyword id="57766" type="PERSON" weightage="40" keywordseo="Anna-Hazare">Anna Hazare</keyword> begins his first fast at Jantar Mantar demanding enactment of <keyword id="541695" type="UNKNOWN" weightage="40" keywordseo="Jan-Lokpal-Bill">Jan Lokpal bill</keyword> drafted by his team 
 
Apr 9: Anna ends fast as the government forms a joint drafting committee consisting of ministers and civil society members 
 
Jun 21: The last meeting of the drafting committee ends with the two sides coming up with separate drafts 
 
Aug 4: Govt introduces a Lokpal bill, widely attacked as fl awed 
 
Aug 8: Bill referred to standing committee 
 
Aug 16: Anna launches second fast for Jan Lokpal bill 
 
Dec 22: Govt re-introduces Lokpal and Lokayuktas bill 
 
Dec 27: Lok Sabha passes bill 
 
Dec 29: Introduced in Rajya Sabha 
 
2012 
 
Re-introduced in Rajya Sabha. Referred to select committee 
 
2013 
 
Dec 10: Anna Hazare begins fast in his village in Maharashtra, demanding urgent introduction of a new anti-corruption law 
 
Dec 13: Amended bill tabled in Rajya Sabha 
 
Dec 18: Lok Sabha passes the ammended bill. Anna Hazare breaks his fast. 
 
(With inputs from IANS)

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