Modi government destroying regulatory mechanism: Yechury
New Delhi, June 30 : CPI-M leader Sitaram Yechury on Saturday targeted the Narendra Modi government over the approval given by the IRDAI to LICs plan to buy 51 per cent stake in debt-ridden IDBI Bank and alleged that it was "destroying regulatory mechanism and practising cronyism of the worst kind".
The Communist Party of India-Marxist leader said LIC's money is public money and accused the government of bailing out rich defaulters by diverting people's money.
"Bailing out rich defaulters, by diverting peoples' money. LIC is public money. Why no recovery of loans from rich defaulters? Cronyism of the worst kind by this Modi government. Rich can loot and scoot, the common Indian will pay back their loans," Yechury tweeted.
"LIC is not supposed to be in banking. It is being forced by suddenly changing rules. Regulatory mechanism being destroyed by Modi government so that defaulters don't have to repay. What is going on?" he added.
The media reported on Saturday that the Insurance Regulatory and Development Authority of India (IRDAI) had approved the plan of Life Insurance Corportation of India to buy 51 per cent stake in the state-owned IDBI.
Congress leader Kapil Sibal also raised questions over the IRDAI move and slammed the government over its management of economy.
"Rupee all time low, IDBI bail out by LIC for unmanagable NPAs and deposits by Indians in secret Swiss bank accounts rise by 50 per cent in 2017. Who is in ICU Modiji: Economy or NDA or Achhe Din?" he said.
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345 Indian fishermen stranded in Iran return home via Armenia
New Delhi (PTI): A group of 345 Indian fishermen, who were stranded in Iran amid escalating regional tensions, returned to India via Armenia on Saturday, officials said.
External Affairs Minister S Jaishankar thanked his Armenian counterpart Ararat Mirzoyan for assistance in return of the Indian nationals.
The Indian nationals arrived in Chennai this evening, the officials cited above said.
The circumstances that led to them being stranded in Iran were not immediately known.
"Thank FM @AraratMirzoyan and the Government of Armenia for facilitating the evacuation of Indian fishermen today from Iran, through Armenia to India," Jaishankar said on social media.
Over 1,500 Indian nationals have left Iran through land border crossings in Armenia and Azerbaijan since the start of the West Asia conflict over a month ago.
"A group of Indian fishermen, stranded in Iran, are returning home via Armenia today; their flight is expected to reach India this evening," a government statement said.
It said the Ministry of External Affairs continues to closely monitor the evolving situation in the West Asian region, with the safety, security and welfare of the Indian community being accorded the highest priority.
It also made a mention of five Indians being injured in Abu Dhabi on Friday.
According to Abu Dhabi authorities, the Indian nationals were among the 12 people injured by debris from an intercepted missile.
"In an attack in Abu Dhabi, five Indian nationals were injured; four have been discharged, one remains under treatment," the Indian government's statement said.
It said the Indian mission in Abu Dhabi is extending "full" assistance and coordinating with local authorities, adding that their flight is expected to reach India this evening.
