Prashant Mavani, is an expert in current affairs analysis and holds a MSc in Management from University of Surrey (U.K.). Above all he is a passionate teacher.
Centre s decision to infuse Rs2.11 lakh crore of fresh capital into public sector banks over the next two years. Recapitalisation of public sector banks Saddled with bad loans as well as stressed assets of close to Rs10 lakh crore Naturally wary in recent quarters of extending fresh loans Bank credit growth slipping to a 60-year low of just 5% this April Twin balance-sheet problem RBI Governor Urjit Patel has said this is the first time in a decade that there is a real chance of meeting the banking sector s challenges. While more details on this package are awaited, including how banks will be picked for funding and the possible interplay with proposed mergers of banks. Banks are where they are, not just because of capital constraints but also because of their inefficiencies and past lending overdrives.
When Xi Jinping was elected the leader of China and the Communist Party five years ago, many had predicted that he would become the most powerful leader since Deng Xiaoping, the architect of the country s economic rise. With the 19th party congress, which concluded on Tuesday and has written his name and ideas into the party constitution, Mr. Xi now appears to be the strongest leader since Mao Zedong. Two of Mr. Xi s predecessors had stepped down after two terms to ensure an orderly transition in the party and the government, where there is no dearth of talented and ambitious leaders. All five new faces in the seven-member Politburo Standing Committee, the highest decision-making body in China, are in their 60s, which lends credence to speculation that Mr. Xi is not planning to step down when his second term ends in 2022. In Mr. Xi s world view, China has passed two eras the revolutionary era launched by Mao and the economic reforms spearheaded by Deng. This one is about making China economically stronger and geopolitically more influential. The message is that the era of peaceful rise is over.
Tillerson s speech on relations with India on October 18 was ambitious in scope Donald Trump administered USA JCPOA or Iran Nuclear Deal UNESCO Paris climate agreement Trans-Pacific Partnership Agreement North American Free Trade Agreement Allies South Korea, Japan and Germany have been threatened for trade surplus with America. World might think that the world order has been designed to America s advantage, but Mr. Trump is convinced that America does not benefit from it. The UN, the World Bank and the IMF have been the instruments of American hegemony for decades. Mr. Tillerson spoke about providing alternative financing to countries that may be coming under Chinese influence for infrastructure financing.
Though Indian leaders repeatedly say that a strong U.S. and American leadership of the world are in India s interest, the history of that dynamic is more layered and nuanced. While American leadership and ability to arm twist other countries, including China and Pakistan, have benefited India on occasions, the space for New Delhi s global ambitions come only from America s retreat.
On page 115 of the World Development Report 2018, the World Bank s new report which focuses for the first time on education, are two powerful images. MRI (magnetic resonance imaging) images taken in Dhaka, Bangladesh, of the brains of two infants aged two-three months. The growth of one infant was stunted while the other was not. The images show the stark difference in brain development between the stunted child and the one who is not stunted. The fibre tracts in the brain of the child who is not stunted are denser, and the connections more elaborate, than those in the brain of the stunted child. There are six main points to note about the report. 1 Moral case for education Rights-based approach Sub-sections titled Education as freedom ; Education improves individual freedoms ; Education benefits all of society.
2 Early childhood development: Severe deprivations whether in terms of nutrition, unhealthy environments, or lack of nurture by caregivers have long-lasting effects because they impair infants brain development. The effects of childhood stunting remain into adulthood. 3 Technological interventions increase learning but only if they enhance the teacher-learner relationship. 4 The issue of public vs private schools 5 School enrolments have increased significantly, massive teacher shortages persist 6 Beyond merely increasing assessment ( Just weighing the pig doesn t make it fatter, as the report itself remarks), it is equally important to fund the sector better; improve teacher training; support the continuing professional development of teachers; and help teachers to help the poorest children to learn. 260 million children across the world equal to a third of the population of Europe are not even enrolled in primary or secondary school. It is unconscionable that in the twenty-first century, so many children are still out of school.
Gujarat elections on Dec. 9 & 14 Gujarat will go to polls in two phases on December 9th and 14th for 182 assembly seats. Announcing this Chief Election Commissioner A K Joti said 89 seats will go to polls in the first phase and the rest 93 in the second phase. Model code of conduct has come into force with immediate effect. The term of the Gujarat Assembly ends on 22nd January next year.
Linking of Aadhaar, bank account must The government has proposed extending the deadline for mandatory linking of Aadhaar with bank accounts and mobile phones from December 31, 2017 to March 31, 2018, but only for those who are willing to enrol for Aadhaar. The proposal was contained in a one-page note that was passed on to a Bench led by Chief Justice of India Dipak Misra on Wednesday. The note, however, insisted that those who already have Aadhaar will be required to sync their numbers with SIM cards, bank accounts, PAN and other schemes where Section 7 (Aadhaar Act) notifications have been issued.
U.S. sees threat to Pak. stability India and the US have firm belief that no country in the world should provide safe havens to terrorists. US Secretary of State Rex Tillerson in New Delhi, External Affairs Minister Sushma Swaraj today said, countries which are supporting terrorism or using terrorism as an instrument should be held responsible. Mrs Swaraj said, strategy of the US President Donald Trump can succeed only if Pakistan stops supporting terrorist organisations. Discussed situation in Afghanistan Discussed security challenges in Indo-pacifc region and agreed that freedom of navigation, over flight and free trade should be given importance as per international law so that Indo-pacific region can become more independent. North Korea
BharatMala will put more freight on roads The Union government said on Wednesday that the road construction programme, BharatMala, will connect 550 districts to national highways. With BharatMala, 550 districts will get linked to national highways against 300 districts at present. We will have 50 economic corridors against the existing six, Road Transport and Highways Secretary Yudhvir Singh Malik said at a press conference. Mr. Malik said 70-80% total freight will move on national highways against 40% freight at present due to BharatMala. Road Transport and Highways Minister Nitin Gadkari said the government will roll out most of the projects announced under BharatMala by December 2018. This is the biggest infrastructure programme that will give priority to tribal and backward areas and border regions, Mr. Gadkari said.
Bank funding will be liquidity-neutral The Centre s move to infuse 2.11 lakh crore capital into public sector banks through recapitalisation bonds and budgetary support is a welcome step, according to Urjit Patel, Governor, Reserve Bank of India. Dr. Patel said a well-capitalised banking system was a pre-requisite for stable economic growth and this package to restore the health of the banking system was a monumental step forward in safeguarding the country s economic future. The central bank Governor said for the first time in the last decade, there was a real chance that all the policy pieces of the jigsaw puzzle will be in place for a comprehensive and coherent, rather than piece-meal, strategy to address the banking sector challenges.
Govt. may get equity from PSBs for recapitalisation bonds: CEA On Tuesday, the government had said it would issue Rs1.35 lakh crore as recapitalisation bonds over the current and next fiscal years, and use these bonds to recapitalise public sector banks. Recapitalisation bonds are likely to impose an interest burden of about 9,000 crore annually on the government, though they will not have any inflationary implications for the economy, he said. Selective and Incentive-based recapitalisation
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