Government gambling with RBI
The interference of the government in RBI had come to discussion when a massive decision such as demonetisation was taken unilaterally without including the latter in the process. Experts had perceived problems when Urjit Patel was brought in as a replacement to Raghuram Rajan, as the head of RBI. Corporate powers began to interfere with RBI after Modi became the Prime Minister. Now the tussle between RBI and Central government has reached its peak. Rumours are strife that Urjit Patel may resign from his post any moment. At a time when India's economy situation is not very bright, a problem like this can affect the country's future a large extent. Corporate powers that are close to Modi are being blamed for this situation country is facing right now.
RBI has laid down certain restrictions to weak banks in the recent times regarding disbursal of loans and the government is not too happy with this. The centre is forcing the RBI to remove those restrictions and disburse loan more freely. the government wants compulsive defaulters who are also its friends to get more loans despite having raised a lot of loans and not repaid them. This will help them escape the bankruptcy declaration process as per the circular issued by the RBI on Feb 12, 2018. The friends of powers that be, owe banks more than Rs 4 lakh crore. Companies such as Adani Group, Essar. TATA and others will get a fresh lease of life for their power projects despite owing the banks more than Rs one lakh crore collectively.
According to economists, these projects would have massive impact on our collective future. The govt is ready to invoke section 7 of RBI policy that has never been used earlier to make this happen. This is a blatant attempt to secure more loans despite being wilful defaulters and yet refuse to take responsibility for their actions. This move is to ensure that these companies turn into big donors for the upcoming elections to BJP. On the surface it is very clear that the BJP can compromise on country's economy for the sake of winning elections and staying in power. Modi government has to answer as to why only a certain selected corporate players are being treated more specially than the others ignoring the circular issued by the RBI in February.
Is the government trying to stop the process of defaulters who owe the banks huge amounts of money, from entering the process of bankruptcy declaration as per the RBI's decision. Law applies differently to friends of the powers that be, and the does. Some vested interests ensured Raghuram Rajan wouldn't be appointed as the RBI governor for the second term so that they could have a free run on policies regarding loans and related issues. Their main grouse against Rajan was that he had sent a list of politically strong defaulters having used the loans they had raised for purposes other than whatever they had mentioned they were raising it for. Rajan had sought that action be initiated against them. Despite many reminders, the government had refused to act. This fact is out in the open through an RTI application that sought to know what had the government done to contain the damage. A webportal has reported regarding this issue.
RBI will be deemed weak should the government invoke section 7 against the institution. All the measures initiated by the RBI to bring defaulters to book would be questioned by people. In view of all this, if Urjit Patel resigns, India would turn into a laughing stock before the global investors. Our economic system would turn upside down with this. The government is aware of this. Hence issues of Ram Mandir and Shivaji statue are being brought up for discussion now distract people from core focus. This may win elections for BJP but the country will plunge into darkness on the economic front. The government has clearly set out to gamble with RBI at the cost of country's future, to win elections and stay in power.
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Kerala court sentences man to life imprisonment for murder of doctor at taluk hospital
Kollam (Kerala) (PTI): A teacher convicted in the sensational murder of Dr Vandana Das inside a hospital here was sentenced to life term on Saturday, and the prosecution said it will move an appeal seeking death penalty for the accused. The victim's family also batted for "maximum punishment".
Dr Das was brutally killed inside a taluk hospital in May 2023 by G Sandeep.
The Kollam Additional District and Sessions Court sentenced Sandeep to a total of 30 years for various offences under the then Indian Penal Code (IPC) and said that after he serves that period, his life imprisonment for Das' murder will commence, SPP Prathap G Padickal told reporters.
The detailed judgement is awaited.
The special public prosecutor said that he will recommend to the prosecution to file an appeal seeking enhancement of the life imprisonment to death penalty.
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He said that the prosecution had sought the maximum punishment for Sandeep, "but the court probably felt it was not a rarest-of-rare case" and that is why death penalty was not given.
The victim's father said that the verdict has come as a relief for the family, but he cannot authoritatively say whether his daughter has got justice.
He indicated his dissatisfaction with the punishment, saying that steps will be taken to seek its enhancement after discussions with the public prosecutor.
Dr Das' mother said that the family can only wish for the maximum punishment and it was up to the court to decide what sentence should be given.
She said that the family will go in appeal, but declined to comment on whether her daughter got justice.
She tearfully said that she wants the convict to suffer the same pain that her daughter underwent "as he stabbed her 27 times".
The court on March 17 had convicted Sandeep for various offences under the IPC, including murder, destruction of evidence and wrongful restraint.
It had also held him guilty under the provisions of the Kerala Healthcare Service Persons and Healthcare Service Institutions (Prevention of violence and damage to property) Act 2012.
Sandeep was brought to the taluk hospital by the police for medical treatment during the small hours of May 10, 2023 and he went on a sudden attacking spree using a pair of surgical scissors kept in the room where his leg injury was being dressed.
A school teacher by profession, he had initially attacked the police officers and a private person who had accompanied him to the hospital and then turned on the young Dr Das, who could not escape to safety.
She was stabbed several times and later succumbed to her injuries in a private hospital in Thiruvananthapuram where she was rushed following the attack.
Dr Das was a native of the Kaduthuruthy area of Kottayam district and the only child of her parents.
She was a house surgeon at Azeezia Medical College Hospital and was working at the Kottarakkara taluk hospital as part of her training.
Sandeep had called the emergency number 112, claiming that his life was in danger. When local police located him, he was standing close by his home, surrounded by local residents and his relatives, and had a wound on his leg following an alleged quarrel.
He was then taken to the hospital for dressing the wound.
