* + <:1 + !"4 4 4 VRGR '%&((!1#VCEB R BP A"'!#$#1!$"#0$"T utqBVQWBuxy( ./%$.0 1 -)#-#/ ,-$. ()-01 123:.:5 .=>.,2#>9:>5828 293.1*2.:2/ ! " # ""#$!#% %#%#% #582##62@A +53:,.33>2*82?:12.3 B2.3.1:52:28/,C4> #&#%%# D3 , ,- EF.." G'E D. # 2 . ! 2 3 + 4 3 &15 ' 6 Q R R 2/123 the stock market and give a against this nation. I am very push to the lending scenario. proud that people from all he continuing standoff Soon after Patel quit as RBI walks of life and institutions are Tbetween the Government Governor, Prime Minister standing up to it.” and the RBI finally claimed the Narendra Modi on Monday West Bengal Chief Minister chair of Governor Urjit Patel, lauded his contribution saying Mamata Banerjee said, “From who resigned on Monday cit- he steered the banking system CBI to RBI, institutions have ing “personal” reasons, some- “from chaos to order” and become total disasters; it is mat- thing not many people are ensured discipline. He said ter of great shock. BJP is ready to digest. Patel is a thorough profession- behaving like dictators, there Patel, 55, who took over as al with “impeccable integrity”. should be a campaign against the 24th Governor of the The PM said Patel leaves this rule.” Central bank on September 5, behind a great legacy and will Senior Congress leader 0 1 " 2 ! 2016, had the shortest tenure at be missed immensely. “Dr Patel Kapil Sibal said, “People he the RBI since 1992. is an economist of a very high (PM Modi) appointed are “On account of personal calibre with a deep and insight- resigning, first Arvind reasons, I have decided to step 1 6 7 + ful understanding of macro- Subramanian left as the Chief ! ! 8 * " $" " down from my current position economic issues. He steered the Economic Adviser and now it’s effective immediately,” Patel ! 19 banking system from chaos to Patel. The economy is suffering said in a brief statement. 9 ! / order and ensured discipline. and Modi thinks that he’s the The Government and the Under his leadership, the RBI biggest economist and he does- RBI stood divided over sever- :9 " brought financial stability,” the n’t need them, so they are R % " al issues, including transfer of !1 + PM tweeted. resigning.” surplus reserves to the ! 9 Finance Minister Arun Former Finance Minister P Government. The Government 19 8* Jaitley too appreciated the ser- Chidambaram said he is sad- can be extradited to India to being brought to the book by also wanted the RBI to provide ! vice rendered by Patel saying it dened but not surprised by the stand trial on the charges the NDA Government. additional liquidity to credit- was a pleasure to deal with him resignation of Patel as RBI brought by the CBI and the ED. “Great Day for India. No starved MSME sector in the and he has benefitted from his Governor and claimed no self- The judge referred the extradi- one who cheats India will go wake of ILFS bankruptcy and " ! scholarship. “The Government respecting scholar or academ- tion case to Secretary of State scot free. The judgement of align Prompt Corrective Action !! acknowledges with deep sense ic can work in the NDA and Mallya will have 14-day UK’s Court is welcome. An ( PCA) norms for public sec- ! of appreciation the services Government. time to appeal against the order. offender benefited during the tor banks with global practices. rendered by Dr Patel to this In a series of tweets, the The order is significant in UPA. The NDA brings him to Though Patel has cited 8*9 ! O country, both in his capacity as senior Congress leader said the high-profile extradition book,” Jaitley said in a tweet. “personal” reasons for his res- 8*: " the Governor and the Deputy the last meeting of the RBI *' trial that has lasted over a year The 62-year-old former ignation, his ouster was on the 8* " Governor of the RBI. It was a Board held on November 19 2/123443515 and comes close on the heels of Kingfisher Airlines boss was on cards ever since the " pleasure for me to deal with was the “day of reckoning” successful extradition of bail since his arrest on an Government threatened to him and benefit from his schol- and Patel should have resigned UK court on Monday AgustaWestland accused extradition warrant in April last invoke certain provision of the arship,” Jaitley tweeted. on that day. “Patel may have Aordered the extradition of Chritian Michel. However, year. Mallya called the decision RBI Act to force him to con- The Opposition has thought that Government will liquor baron Vijay Mallya, the there is little hope that Mallya to allow his extradition to sider its views on relaxing Acharya said Governments an eye on the next year’s poll, slammed the Government over re-trace its steps. I knew it fugitive businessman who is could be brought back to India India “unfortunate”. lending norms for segments that “don’t respect the RBI’s the Government would like to Patel’s resignation. Emerging would not. Good he quit before wanted in India for fraud and shortly. His lawyers are set to Earlier, Mallya sought to such as small and medium independence will sooner or corner a portion of the RBI from the Opposition parties’ another humiliating meeting. money laundering involving challenge the order in the high disprove the narrative before enterprises, appropriate size of later incur the wrath of finan- reserve to launch series of pop- meeting, Congress president Saddened, not surprised, by an estimated 9,000 crore of a court and that entire process the reporters outside the case reserves the Central bank must cial markets, ignite economic ulist measures. The need for Rahul Gandhi said, “RBI Patel’s resignation. No self- consortium led by the SBI and could go on for months. that he has “stolen” the money maintain and easing norms fire, and come to rue the day liquidity for the MSME sector Governor is resigning because respecting scholar or academ- another set of loans by the IDBI. Hailing the UK court, and said his offer to repay the for weak banks. they undermined an important and NBFC are also uppermost he’s protecting the institution of ic can work in this Westminster Magistrates’ Finance Minister Arun Jaitley principal amount to the Indian On October 27, RBI regulatory institution”. on the agenda of the RBI. Taking away reserves from Government,” he said. Court Chief Magistrate Emma said the offender who benefit- banks was “not bogus”. Deputy Governor Viral It is understood that with Government to prevent slide in RBI to save your skin is an act Continued on Page 4 Arbuthnot ruled that Mallya ed during the UPA rule is Continued on Page 4 +- ( " *#P " ! ! ()&() R ! ! (( ! 2/123 #$%& 2/123 n a shocking incident of 2/123 Iroad rage, a 21-year-old biker op leaders of Opposition was shot dead by two men fol- fter sulking for the past few Tparties on Monday decid- lowing an altercation after his Amonths, Rashtriya Lok ed to come together to prevent motorcycle grazed their car in Samta Party (RLSP) president the BJP from coming back to Acharya Niketan near Mayur Upendra Kushwaha on power in the next year’s Lok Vihar Phase-1 in East Delhi in Monday resigned from the Sabhs polls. the wee hours of Monday. He Union Council of Ministers In a meeting of Opposition was shot five times. Police are accusing Prime Minister parties attended by leaders and scanning the CCTV footage of Narendra Modi of reducing representatives of 21 political the nearby areas to identify the Cabinet to a “rubber stamp”, parties, including Congress killers who are at large. “betraying” backward classes, president Rahul Gandhi, The deceased has been and giving Bihar only “jumlas”. Andhra Pradesh Chief Minister identified as Yogesh Making the announcement Chandrababu Naidu, former Chaudhary, a resident of Chilla a day ahead of Parliament’s Union Ministers Sharad Pawar, village near Mayur Vihar Winter Session and counting of Sharad Yadav, West Bengal Phase-1. According to police, the votes in five State Assembly Chief Minister Mamata the accused drove away in polls, the RLSP leader from Banerjee and her Delhi coun- their i-20 car after the crime. Bihar said he is open to joining terpart Arvind Kejriwal, it was “The incident took place 4/ 5 $ the Opposition alliance. He resolved to take every possible !" " # $ ' outside a 24×7 store. A passer- claimed the BJP-led NDA will step to defeat the BJP and pro- ' ( " ( by informed the PCR about a borne men arrived there. a point-blank range at Yogesh,” not be able to win a single seat tect the important institutions *# +,-. !" / man lying in a pool of blood. Yogesh’s bike grazed the car. said the senior police official. in the State. Kushwaha had in the country. He was taken to a nearby hos- This led to an altercation. In the “A case of murder has been been targeting the BJP and However, two major polit- parties will work together to ties to work together to defeat escape of bank defaulters. pital by a PCR van where he meantime, Yogesh went inside registered at the Pandav Nagar Bihar Chief Minister Nitish ical parties of Uttar Pradesh defeat BJP/RSS, Mamata said the BJP and protect India’s “India needs a Government was declared brought dead,” the shop with his friends. The police station. A police team is Kumar for weeks. arch rivals Samajwadi Party the Opposition leaders will institutions.