Both UPA, NDA Led to Npas: Rajan
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Follow us on: @TheDailyPioneer facebook.com/dailypioneer RNI No.2016/1957, REGD NO. SSP/LW/NP-34/2016-18 Established 1864 OPINION 8 Published From AVENUES 10 WORLD 13 DELHI LUCKNOW BHOPAL IN REMEMBRANCE OF A GIVE PRIORITY TO RUSSIA LAUNCHES BHUBANESWAR RANCHI RAIPUR VERSATILE GENERAL VOCATIONAL COURSES BIGGEST EVER WAR GAMES CHANDIGARH DEHRADUN Late City Vol. 154 Issue 246 *Air Surcharge Extra if Applicable LUCKNOW, WEDNESDAY SEPTEMBER 12, 2018; PAGES 16 `3 INDIAN EVES BEAT SL BY 9 WICKETS} } 14 SPORT www.dailypioneer.com Both UPA, NDA led to NPAs: Rajan Falling `, rising fuel price Says gave PMO list of loan frauds, no action was taken; Cong, BJP lock horns over bad loans make economy tumble PNS n NEW DELHI reporting of fraud cases to the This is a matter that should be “A variety of governance Congress. probe agencies. I also sent a list addressed with urgency,” said problems such as the suspect The Congress hit back on Global trade war o ormer Reserve Bank of of high-profile cases to the Rajan in his report. allocation of coal mines cou- the bad loans issue saying that After opening in positive FIndia (RBI) Governor PMO urging that we coordi- Unfortunately, he said, the pled with the fear of investiga- the Narendra Modi tension leads to territory on Tuesday Raghuram Rajan has blamed nate action to bring in at least system had been “singularly tion slowed down Government Government is accountable for morning and touching of ‘suspect’ allocation of coal one or two to book. I am not ineffective” in bringing even a decision making in Delhi, both the NPA mess. Party spokesper- mayhem in stock 72.25 versus the dollar, mines and slowdown in deci- aware of single high-profile fraudster in the UPA and the subsequent son Randeep Surjewala said the Rupee plummeted 24 sion making by the Congress- progress on to book. “As a result, fraud is NDA Governments,” Rajan when the UPA had left office in market, poses paise to end at a new led UPA as also the lack of this front. not discouraged,” Rajan said. said in his note submitted to 2014, total (NPA)s were `2.83 serious concern record low of 72.74 urgency shown by the incum- It is not clear as to which the Parliament’s Committee lakh crore and this has jumped o The Rupee is facing twin bent NDA dispensation regime Rajan addressed on Estimates headed by BJP to `12 lakh crore under the PNS n NEW DELHI problems. First the rise in fuel prices, second, the strengthening of accountable for the rising Non- his list of high-profile leader Murli Manohar Joshi. NDA rule. the US dollar on the back of a strong jobs report and expectations Performing Assets (NPA) of the cases of frauds. Rajan is currently the Continued on Page 5 he Indian Rupee continued of a rate hike from the Federal Reserve this month banks. The bad loan prob- Katherine Dusak Miller Tto make a fresh low on daily o A 14 paisa per litre hike in petrol and diesel prices each took the In his report to a lem mainly surfaced due Distinguished Service Professor basis against the backdrop of rates to an all-time high Parliamentary panel, to slowdown in the of Finance at Chicago Booth rising fuel prices, capital out- o Petrol price in Delhi climbed to `80.87 per litre, while in Mumbai it Rajan also disclosed he Government’s decision School of Business. He served NOTE TO flow and global trade war ten- ` sent a list of high-pro- making and econom- in the capacity of the RBI sion leading to mayhem in the inched up to 88.26. A litre of diesel in the national Capital was priced at file fraud cases to the ic growth seeing Governor for three years till stock market and posing seri- ` ` Prime Minister’s a dip along with September 2016. Parl panel ous concern for the funda- 72.97 and 77.47 in Mumbai Office but was “not over-optimistic The comments of the for- * A variety of governance mental of the economy. After o The crash of Rupee also led to a aware of any bankers, he mer RBI Governor, who exit- problems such as the opening in positive territory on collapse at the stock market with progress” on it. said. ed after completing his tenure suspect allocation of coal Tuesday morning and touching benchmark sensex losing 509 “The RBI set up a (not given a second term) dur- mines coupled with the fear of 72.25 versus the dollar, the points to close at more than one- fraud monitoring cell ing the Modi Government, of investigation slowed down Rupee plummeted 24 paise to month low of 37,413.13 due to when I was the Governor triggered a war of words Government decision making end at a new record low of heavy selling in FMCG, metal, to coordinate the early between the BJP and the in Delhi, both in the UPA and 72.74. However, the Reserve auto and financial stocks the subsequent NDA Bank of India (RBI) interven- Governments, Rajan said tion led to some recovery. Kerala nun wants * It is not clear as to which Petrol and diesel prices hit among all metros and most ing of the US dollar on the back regime Rajan addressed his fresh highs on Tuesday. A 14 State capitals because of lower of a strong jobs report and Cong gives ‘proof’, alleges complicity paisa per litre hike in petrol and taxes. Mumbai has the highest expectations of a rate hike from list of high-profile cases of Vatican to step frauds diesel prices each took the rates sales tax or VAT. Petrol in the Federal Reserve this month. ` * Unfortunately, the system had to an all-time high. While some Chennai costs 84.07 per litre The Rupee has also come in, do justice States have marginally reduced and `83.75 in Kolkata. Diesel under pressure from huge port- of Modi Govt in Nirav, Choksi escape been 'singularly ineffective' in ` bringing even a single high VAT to provide symbolic relief is priced at 77.15 per litre in folio liquidation pressure from Kottayam/Kochi/Kannur: A this year, after Choksi fled, PM to consumers, but it is too lit- Chennai and `75.82 in Kolkata. foreign investors. As Mehul denies profile fraudster to book. As a nun who has accused a Roman Modi met the Antiguan result, fraud is not tle to make any difference in While the Government has The political uncertainty Catholic Bishop of raping her President in the UK but he did- discouraged, he said view of the massive rise over the ruled out any excise duty cut to about 2019 general elections has petitioned the Vatican rep- all charges of n’t utter a word to send back last few days in fuel prices. contain the rise of fuel prices, have also been acting as a resentative in India alleging Choksi. * The bad loan problem mainly Petrol price in Delhi it may be forced to come out dampener on forex market that the clergyman was using defrauding PNB This is not my words, it has surfaced due to slowdown in climbed to `80.87 per litre, with NRI bond, as was done in sentiments. Foreign investors “political and money power” to been said by the Antiguan the Government's decision while in Mumbai it inched up 2013, to deal with the withdrew close to `2,300 crore bury the case even as the in video message President in an interview on making process and to `88.26. A litre of diesel in the falling Rupee. from the capital markets since Kerala Government on July 27. The Indian economic growth seeing a national Capital was priced at The Rupee is facing twin Monday. Tuesday assured “justice PNS n NEW DELHI Government never approached dip along with over optimistic `72.97 and `77.47 in Mumbai. problems. First the rise in fuel Continued on Page 5 will be done”. them on this issue.” bankers, Rajan said Delhi has the cheapest fuel prices, second, the strengthen- Related reports on P12 Making a fervent plea for fter the fugitive diaman- party shared a number of com- The Congress also shared urgent intervention, the nun in Ataire Mehul Choksi plaints made by different peo- some documents on Twitter to a scathing letter to Giambattista released a video message deny- ple at various intervals during claim how PMO, MEA, CBI, Diquattro, Vatican’s Apostolic ing all charges of defrauding the last three years against the SEBI etc., gave a clean chit to Nuncio (a diplomatic mission, the PNB, the Congress on duo to the PMO and several the fraudsters and facilitated also sought to explain her Tuesday released documents to other agencies, including their escape from the country. silence before coming out allege complicity of Prime Securities and Exchange Board The fresh attack on the against the bishop and said she Minister’s Office (PMO) and of India (SEBI). Government from the had “tremendous fear and the Finance Ministry in the Furnishing proof of Modi Congress came hours after shame” and wondered why the escape of Nirav Modi and Government’s alleged involve- fugitive Mehul Choksi released church was “closing its eyes Choksi from the country. ment in their escape, Congress a video message denying alle- towards the truth”. Accusing the Modi spokesperson Randeep Singh gations of wrongdoings by him. Detailed report on P6 Government of inaction, the Surjewala said, ‘’On April 20 Continued on Page 5 CAPSULE 55 killed as overcrowded DOORSTEP DELIVERY: CM ISSUES STRICT ORDERS New Delhi: A day after launching bus falls into gorge in T door step delivery scheme, Delhi Chief Minister Arvind Kejriwal on OMER FAROOQ n HYDERABAD Hyderabad, on Tuesday morn- lages and belonged to the Tuesday issued orders for the strict ing.