Sensex Tanks 770 Pts On Dismal Data

Equity benchmark indices suffered bruising losses on Tuesday in all-round selling led by bank, financial, metal and auto stocks after the government last week reported 5% GDP growth during the first fiscal quarter of April to June.

The government has unveiled various measures to arrest falling growth, right from rolling back of higher tax surcharge from foreign investors to mega reforms in the public sector banking space. However, investors remain cautious due to weak macro-economic indicators amid global trade wars and a gloomy outlook for this year.

The BSE S&P Sensex closed 770 points lower or 2 per cent at 36,563 while the Nifty 50 edged lower by 225 points to 10,797.

At the National Stock Exchange, all sectoral indices were in the red. Nifty PSU bank dropped by 4.87 per cent to 2,353.80 after Finance Minister Nirmala Sitharaman unveiled a mega-plan last week to merge 10 public sector banks for creating four stronger lenders with countrywide networks and global reach.

Stocks of Punjab National Bank plunged by 8.55 per cent to close at Rs 59.40 per share. Oriental Bank of Commerce edged lower by 9.6 per cent to Rs 66.40 while Canara Bank traded 10.6 per cent lower to trade at Rs 197.20 per share.

Traders said while the development is positive, it will take a long time for the better economies of scale to materialise and face initial profitability pain.

However, IDBI Bank gained by 7.6 per cent after the government announced its recapitalisation with infusion of over Rs 9,000 crore.

Among the other prominent losers were Tata Steel, ICICI Bank, UltraTech Cement, Titan, Indian Oil Corporation and Tata Motos which lost between 4 and 4.5 per cent each. Heavyweight Reliance Industries plunged by 3.8 per cent while Jindal Steel lost by 3.6 per cent.

However, IT stocks like Tech Mahindra and HCL Tech showed some gains.

Meanwhile, Asian stocks drifted in thin trading as investors waited to see if US and Chinese officials can schedule a planned meeting this month to continue trade talks.

Hong Kong’s Hang Seng was down by 0.4 per cent after anti-government protests. South Korea’s KOSPI slipped by 0.18 per cent but Japan’s Nikkei moved up marginally by 0.02 per cent.

(ANI)

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Mirzapur Lok Sabha Election

Priyanka To Be Appointed UPCC Chief

Three months after the drubbing in the Lok Sabha elections, Congress General Secretary Priyanka Gandhi Vadra will soon take over full responsibility of the party in Uttar Pradesh, where she is currently in charge of eastern region, and do a revamp of the organisation there, sources said.

Ahead of 2019 General elections, Priyanka was appointed Congress in-charge of eastern Uttar Pradesh while the responsibility of western part of the state was given to Jyotiraditya Scindia. The Congress could only win a single seat in Uttar Pradesh.

The party has decided to announce new chief of Uttar Pradesh Congress Committee (UPCC), who will replace Raj Babbar, a few days after the announcement regarding Priyanka will be made.

The new UPCC team will not be big like the earlier team, the sources said.

“This time, the committee will be 10 times smaller than the previous committee. The average age of the committee is slated to be 40 years. The new team will have young and aggressive faces,” they said.

After the poll debacle, the Congress dissolved the district units in Uttar Pradesh.

The sources told ANI that the overhauling process, which was going for the last three months, has been completed now.

“Priority will be given to youth and grassroots workers. The party is eyeing on 2022 Assembly Polls. In every district, there will be a women leader as vice president. Dalit and OBC leaders will also be given a chance. Every person will be given a specific task to work in their target area,” the sources said.

Priyanka had held meetings for the revamp plan with workers and leaders across the state. On Friday, she met with senior leaders from party’s Uttar Pradesh unit in New Delhi. AICC secretary in-charges were also touring the state.

District units for eastern Uttar Pradesh will be announced with new party chief in the state. New team for units from Uttar Pradesh West will be announced later as the process of consultation with workers and leaders started a bit late in that region.

The source said that when new UPCC team will be announced social engineering will be done so that nobody is left out. After the announcement of the team, Congress is preparing for a series of mass agitation to strengthen the party and take it to masses.

The party has also set a target of one crore membership and hopeful of achieving it within a year. Priyanka will also be traveling to Lucknow and Pryagraj, the sources said.

The Congress leader is also taking feedback of senior leadership in the state.

The team of AICC Secretaries Sachin Naik, Dheeraj Gurjar and Bajirao are visiting each district to identify people. (ANI)

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Triple Talaq Bill

‘Thankful To Triple Talaq Bill Activists’

Farzana, (name changed), is a 40-something resident of Delhi who works as a household help. She has seen female members of her family suffer due to triple talaq. She welcomes the new law that criminalises instant talaq.

Several Muslim women have suffered endlessly due to triple talaq. A decision taken impulsively and in haste never bodes well for anyone — be it the husband, the wife, or society as a whole. 

I am lucky that my husband is a very caring and understanding individual. He would never hurt me or try to prove his superiority over me. He treats me as an equal and I love being his wife. Ours is a relationship of mutual respect. 

However, many others in my extended family have not been so lucky. Two of my aunts, for instance, were divorced through triple talaq. While, one somehow managed to rebuild her life, the other aunt couldn’t bear the shock. She gave into depression and slowly died. She had two children, who are now being raised by the other aunt. Imagine the plight of the parents of these two sisters! 

I am glad that the Triple Talaq Bill has finally been passed in the Parliament. It is a boon for women as well as families, who want to stick together and build something beautiful out of their companionship. Our future generations will reap benefits from this new law. Women will no longer live in constant fear of being abandoned by their husbands. The credit must go to all the women and NGOs, who were involved in laying the foundations of the new law. 

There is a doha:  Rahiman dhaga prem ka mat todo chatkay… Don’t break the string of love for it is very delicate. A marriage is a beautiful bond, bound by the delicate string of love. A custom like triple talaq threatens to snap them in one impulsive moment. Triple talaq signifies the male ego and misogyny. Even the most trivial fight can end up in an instant divorce, ruining families. I do understand that some relationships don’t work out, no matter how much effort you put into them, but triple talaq is no way to end them.

Sonia Gandhi Rahul And Manmohan

Will Cong Come Out Of The Retirement Mode?

The Grand Old Party will do well to take a leaf from the BJP’s organisational reforms by assigning leadership roles to its Gen-Next leaders

When the Congress Working Committee, the party’s highest decision-making body, met here earlier this month to pick Rahul Gandhi’s successor, it eventually settled on Sonia Gandhi after day-long deliberations. The difference between the two national parties and their fortunes could not be more symbolic than this step. Congress has become a pensioners’ party while BJP is the dynamic youth orientated national force.

The decision by Congress to reinstate Sonia Gandhi as leader was a major victory for the party’s old guard which had been working behind the scenes for nearly two months to see that Rahul Gandhi loyalists were denied the party’s presidency. By proposing Sonia Gandhi’s name, the party seniors silenced those who were pushing for a younger leader and also ensured that their hold on the party organization remained intact as they are essentially her camp followers.

The entire exercise ended up exposing the divide between the party’s old guard and the Gen Next leaders with the former having the upper hand. Consequently, the much-needed generational shift in the grand old party was effectively thwarted.

In fact, this battle between the two groups is not new. Afraid of losing their preeminent position in the party organization, the old guard has been blocking Rahul Gandhi’s plans since he was the party vice-president. Even after he took over as party chief, the Nehru-Gandhi scion had to tread carefully to ensure that he did not alienate the old-timers, known for their proximity to Sonia Gandhi.

That Rahul Gandhi was unable to shake them off was evident when it came to the appointment of chief ministers in Madhya Pradesh and Rajasthan after the Congress won the assembly polls in the two states last year. He had to willy-nilly endorse senior leaders Kamal Nath and Ashok Gehlot as chief ministers, overlooking the claims of younger leaders Jyotiraditya Scindia and Sachin Pilot.  

This ongoing turf war between Sonia Gandhi’s loyalists and Rahul Gandhi’s supporters in the Congress stands out in sharp contrast to the Bharatiya Janata Party, which has, over the past few years, placed young leaders in key positions of power without creating any major ripples in the party.

The first move in this direction was made after veteran BJP leader L.K.Advani fell foul of the party’s ideological mentor, the Rashtriya Swayamsevak Sangh, with his complimentary remarks on Mohammad Jinnah. Advani’s protégés Sushma Swaraj and Arun Jaitley were given the responsibility of leading the charge against the Manmohan Singh government in the Lok Sabha and Rajya Sabha, respectively. Both leaders were in their fifties then. Shortly thereafter, 52-year-old Nitin Gadkari was promoted as BJP president. Though dethroned, Advani retained a say in party matters through Swaraj and Jaitley, both mentored by him.

However, the BJP and the RSS woke up to the need for a further generational change after the party lost two consecutive elections in 2004 and 2009. It was clear that seniors like Advani and Murli Manohar Joshi were not inspiring younger and new voters and that it was time to take drastic decisions.

By then, three-time Gujarat chief minister Narendra Modi had positioned himself for a larger national role. Undoubtedly, his projection as the BJP’s Prime Ministerial face came up for opposition from Advani and his supporters in the run-up to the 2014 Lok Sabha elections. But, after a few hiccups, their resistance was eventually worn down. And once Modi proved his credentials in the electoral arena by leading the party to an emphatic victory in the 2014 Lok Sabha polls, there was no looking back.

Modi and his confidant Amit Shah have since moved fast to bring in younger leaders. Party seniors were been gradually sidelined and even second-generation leaders made way for a younger set. But unlike the Congress, the change-over has been a smooth affair.

Senior leaders were first denied ministerial berths in 2014 by laying down an upper age limit of 75 years. In the recent general election, these leaders, including Advani, Joshi, Shanta Kumar, Sumitra Mahajan, B.C.Khanduri and Kalraj Mishra were not even given tickets.

At the same time, Modi, assisted by BJP president Amit Shah, has picked new chief ministerial candidates which went against all conventional logic. For instance, Devendra Fadnavis, a Brahmin, was appointed a chief minister in Maharashtra where power has always been with the all-powerful Maratha community. Similarly, Manohar Lal Khattar, a non-Jat, was chosen as chief minister of Haryana where it is the Jat community which dominates. It’s the same story in Jharkhand and Assam.

Though there were initial murmurs in the party, there were no protests or counter moves to all these decisions, thus ensuring the emergence of a new-look BJP.  

The Congress can certainly take a few lessons from the BJP which successfully managed to reverse the trend of electoral losses by taking some tough measures. It was a gamble but it paid off. The result is that the BJP is the central pole of Indian polity today while the Congress is struggling for survival.

The Congress too needs to disturb the status quo and go in for major changes without being afraid of rocking the boat. But to do so, it needs a powerful and charismatic leader who also has capabilities of winning elections for the party. The BJP has that advantage.

Congress increasingly gives the impression of a party seeking ‘retirement’ as Sonia Gandhi with Manmohan Singh in tow, both shuffling when walking, are the face of Congress. But where is the new dynamic youthful strides going to come from?

Unfortunately, Rahul Gandhi has not measured up to the task, which has allowed the old guard to retain its vice-like grip on the party while Gen-Next leaders continue to wait in the wings.

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Indian Envoy Meets Jadhav In Pak Prison

The meeting between India’s Deputy Commissioner to Pakistan, Gaurav Ahluwalia and Indian Kulbushan Jadhav concluded in Islamabad, sources told ANI. Islamabad had granted consular access to Jadhav.

Jadhav was sentenced to death by the Pakistan military court on the basis of extracted confession of “espionage and terrorism” after a closed trial in April 2017.

It is not yet clear whether the meeting was impeded or not. The access was provided in line with the verdict of the ICJ delivered on July 17.

Earlier in the day, Ahluwalia met Pakistan Foreign Office spokesperson Mohammad Faisal regarding the consular access to Jadhav, who was sentenced to death by the Pakistan military court on the basis of extracted confession of “espionage and terrorism” after a closed trial in April 2017.

In a major diplomatic victory for India, the ICJ, in July, had asked Pakistan to comply with the Vienna Conventions and provide consular access to Jadhav and to ensure “effective review and reconsideration of his conviction and sentences”. (ANI)

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Sikhs Protest Girls' Conversion In Pak

Members of Sikh Community took out a march in New Delhi on Monday to protest against abduction and forceful conversion of Sikh girls in Pakistan. The agitators also burnt an effigy of the Pakistan Chief Minister Imran Khan.

The march began from Teen Murti Marg here and was culminated at Pakistan High Commission in solidarity with the Sikh girls who were allegedly abducted and converted to Islam before being married to a Muslim man in Pakistan’s Punjab province and demanded justice for her.

The Sikh community members wanted to submit a memorandum at the Pakistan High Commission, however, they were stopped. This irked the Sikhs who launched massive protests near the premises of the Pakistan High Commission.

Police forces deployed outside the Pakistan High Commission were seen grappling to contain the protesters behind the barricades while the protesters climbed over the police barricades and raised slogans against Pakistan.

The agitators raised slogans like ‘Stop forceful conversion of Minorities in Pakistan’.

“Pakistan is specifically targeting minorities. In March 2019, two sisters Reena and Raveena were abducted by Pakistan and now one more girl from the Hindu religion has been abducted. We had given two days ultimatum to the Pakistan government that the girl should be released, but they did not release her. They said eight people have been arrested, which is also a lie. Pakistan is only making false statements,” one of the protestors told ANI.

“If the Pakistan government did not release her, we will approach the International Court or United Nation. We will also pressurise the Modi government to isolate Pakistan,” he added.

“What Pakistan government is doing is against humanity. The government should understand that this is not the way to treat the minorities in your country. If they will not stop it then we will keep protesting,” another protestor told ANI.

On Sunday, people belonging to different faiths and communities also took out a march in protest against the abduction, forceful conversion and marriage of the Sikh girl to a Muslim man in Pakistan.

The abduction of the teenage girl came to light on Aug 29 after Shiromani Akali Dal spokesperson Majinder Singh Sirsa shared a video of the girl’s family narrating the ordeal on social media.

The incident led to a furore in India with several political leaders across parties demanding action against the perpetrators.

(ANI)

CBI Records Unnao Victim Statement

The Central Bureau of Investigation (CBI) on Monday recorded the statement of the Unnao rape survivor at AIIMS, where she is undergoing treatment after being seriously injured in a road accident in Uttar Pradesh, sources said.

The CBI is investigating the accident involving the Unnao rape survivor.

On July 28, a truck rammed into the vehicle in which the girl, her counsel and two aunts were travelling to Raebareli. While her aunts succumbed to their injuries, the victim and her lawyer were injured and are currently undergoing treatment at AIIMS in the national capital.

Earlier, a Delhi court had ordered the framing of charges against expelled BJP legislator Kuldeep Singh Sengar, who is the accused in the rape case.

The lawmaker had allegedly raped the girl, a minor at that time, at his residence in Unnao in 2017, where she had gone to seek a job.

Another case was registered against Sengar in connection with the accident in Raebareli.

The expelled BJP MLA is presently lodged at Tihar Jail in the national capital. (ANI)

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