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image source, ANI
Speaking for the first time on the Adani case, Finance Minister Nirmala Sitharaman has tried to assure investors. He has said that the banking sector is in good condition and the financial markets are working with the rules.
The English newspaper The Indian Express quoted the Finance Minister’s interview to a television channel as saying, “SBI and LIC have issued detailed statements. Their heads have themselves said that they have not given loans beyond the limit. They They were very clear that their debt was within limits.”
There is an atmosphere of fear among investors due to the continuous fall in the shares of Adani group companies. Regarding the panic among investors, Sitharaman said that the market will continue to climb up.
He said, “The market has come down slightly due to the immediate impact of the budget and other reasons. But, in the next few days the market will continue to go up because of the budget.”
At the same time, the English newspaper Times of India has also given a prominent place to the things said in Nirmala Sitharaman’s interview.
According to the newspaper, the Finance Minister said, “India has a stable government and the financial markets here are working under the rules. Due to this, the confidence of investors will be maintained. Our regulators are usually very strict about the rules and one incident shows that Can’t judge how financial markets are run. Many lessons have been learned over the decades and our regulators have kept the markets in good stead.”
America’s research company Hindenburg released a report on January 24, claiming that Adani Group’s shares are overvalued, as well as many allegations of irregularities were leveled against the group, after which the Adani Group has been suffering losses in the market. Is.
image source, ANI
A Bloomberg report has revealed that the country’s largest bank State Bank of India has given a loan of Rs 21,000 crore to the Adani group alone. Out of this, a loan of 20 crores has been given from the overseas branch of the bank.
According to media reports, another government bank, Punjab National Bank has given a loan of 7000 crores to Adani group.
Amidst the falling price of Adani Group’s shares, concerns are being expressed about the huge loans received from Indian banks.
In such a situation, the Reserve Bank of India had sought information about the loan given to Adani Group to protect commercial banks from possible risk.
However, on Friday, the RBI has issued a statement saying that the country’s banking system remains strong and stable.
RBI said, “As a regulator and supervisor, RBI constantly monitors the banking sector and individual banks to maintain financial stability. RBI has a large loan database system in which banks with loans of Rs 5 crore and above are maintained. Gives information. It is used for monitoring.
image source, ANI
Law Minister Kiren Rijiju
the judges Law Minister’s answer to the question related to the appointment and transfer of
Law Minister Kiren Rijiju has answered questions related to the appointment and transfer of judges in the Lok Sabha on Friday. He was also asked a question regarding the reform in the collegium.
The Law Minister said that in a letter to the Chief Justice of the Supreme Court, the government has emphasized the need to finalize the memorandum of procedure.
The English newspaper The Hindu writes that such documents come under the memorandum of procedure, which contain instructions regarding the appointment and transfer of judges of the Supreme Court and High Court.
Kiren Rijiju said, “The issue is still sub judice in the Supreme Court. In view of the judicial pronouncements and advice of the Supreme Court, the government in its communication to the Chief Justice on January 6, 2023, had stressed the need to finalize the memorandum of procedure .”
The Law Minister gave this answer on a question asked by Congress MP Muralidharan. Muraleedharan had asked whether the memorandum of procedure has been finalized or not.
At the same time, TMAC MP Saugata Ray and Congress MP Deepak Baiz asked questions regarding the need for reform in the collegium system.
In his written reply, Kiren Rijiju said that the government has advised the Supreme Court to form a search-cum-evaluation committee for the appointment of Supreme Court judges and High Court judges.
image source, TNRD.GOV.IN
Government’s clarification regarding MNREGA budget
The Central Government clarified on Friday that the budget for MNREGA has not been reduced in the Union Budget 2023-24. This news has been given in the English newspaper The Statesman. Under the MNREGA scheme, unskilled workers are given employment for at least 100 days in a year.
Giving clarification, the Ministry of Rural Development has said that in the media reports, concern was raised about allocating 60 thousand crores in the budget for MNREGA. It was said to be 18 percent less than last year’s allocation of 73 thousand crores. Along with this, concern was expressed about the effect on the employment of the workers.
The ministry said, “This is far from reality. The scheme is demand based. Whenever additional funds are required, funds are requested from the Ministry of Finance. Committed to take it so that the plan can be fully implemented.
image source, Reuters
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Indigenous media will join the Indian Air Forcem transport aircraft
The Indian Air Force has started the process of acquiring a Medium Transport Aircraft (MTA). This aircraft has been made in the country itself under ‘Make in India’.
According to the English newspaper Hindustan Times, MTA is used to transport many types of aircraft. It will have the capacity to carry loads ranging from 18 to 30 tonnes.
The newspaper writes that India has made many major changes in the defense sector under the ‘Make in India’ programme. Under this, many projects related to the manufacture of missiles, field guns, tanks, aircraft carriers, drones, fighter aircraft, tanks and helicopters are being run.
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