Tag: bonds

  • 10 regional parties received Rs 852 crore through electoral bonds in 2021-22: ADR report

    10 regional parties received Rs 852 crore through electoral bonds in 2021-22: ADR report

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    New Delhi: Ten regional parties, including the DMK, BJD, YSR Congress, JDU and the AAP, have declared receiving Rs Rs 852.88 crore donations through electoral bonds in 2021-22, according to an NGO working for electoral reforms.

    The total income of 36 regional parties for the financial year was Rs 1,213 crore, the Association for Democratic Reforms (ADR) said in a report, citing official data.

    The report analysed the total income and expenditure incurred by 36 out of 54 regional parties during 2021-22, as declared by these parties in their audit reports submitted to the Election Commission on India.

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    “Ten regional parties — DMK, BJD, TRS, YSR-Congress, JDU, SP, AAP, SAD, MGP and TDP — have declared receiving donations through electoral bonds worth Rs 852.88 crore…for 2021-22,” it said.

    The TRS (Telangana Rashtra Samithi) has subsequently renamed as the Bharat Rashtra Samithi. The party is in power in Telangana.

    The Dravida Munnetra Kazhagam (DMK), which is currently in power in Tamil Nadu, reported having the highest income among the parties at Rs 318 crore, which forms 26.27 percent of the total income of all the parties analysed, followed by the BJD with an income of Rs 307 crore and the TRS Rs 218 crore, according to the report.

    The total income of top five parties amounted to Rs 1024.424 crore, or 84.44 percent of the total income of the political parties analysed collectively.

    For 35 parties out of 36 political parties whose data is available for both 2020-21 and 2021-22, twenty parties have shown an increase in their income and 15 parties have shown a decline in their income.

    The total income of the 35 parties increased from Rs 565.424 crore in 2020-21 to Rs 1,212.708 crore in 2021-22, a total increase of 114.48 per cent.

    The Biju Janata Dal (BJD), which governs Odisha, reported the highest increase in its income of Rs 233.941 crore, followed by TRS and DMK which declared a total increase of Rs 180.454 crore and Rs 168.795 crore respectively, it stated.

    Twenty-one regional parties declared a part of their income as remaining unspent for 2021-22 while 15 political parties spent more than the income collected during the year.

    The DMK has more than Rs 283 crore of its total income remaining unspent while BJD and TRS have Rs 278 crore and Rs 190 crore unspent income respectively.

    The total declared expenditure of the 36 regional parties for 2021-22 was Rs 288 crore.

    The total expenditure incurred by the top five parties is Rs 176.779 crore or 61.35 per cent of the total expenditure as reported by the 36 political parties.

    The top five parties that have incurred the highest expenditure are SP (Rs 54 crore), DMK (Rs 35 crore), AAP (Rs 30 crore), BJD (Rs 28 crore) and AIADMK (Rs 28 crore).

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    ( With inputs from www.siasat.com )

  • ‘Loss of family bonds, alienation from society’: SC speaks up for jail inmates

    ‘Loss of family bonds, alienation from society’: SC speaks up for jail inmates

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    New Delhi: The Supreme Court has observed that the danger of unjust imprisonment is that inmates are at risk of suffering from “prisonisation”. It pointed out that incarceration has other deleterious effects as well, especially for an accused from weaker economic strata.

    The deleterious effects listed by the apex court included the immediate loss of livelihood, scattering of families as well as loss of family bonds, and alienation from society. And if the trials are not concluded on time, injustice wreaked on the individual is immeasurable.

    A bench of Justices S. Ravindra Bhat and Dipankar Datta said: “Jails are overcrowded and their living conditions, more often than not, appalling. According to the Union Home Ministry’s response to Parliament, the National Crime Records Bureau had recorded that as on 31st December 2021, over 5,54,034 prisoners were lodged in jails against a total capacity of 4,25,069 in the country. Of these 122,852 were convicts; the rest 4,27,165 were undertrials.”

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    The bench added that incarceration has further deleterious effects — where the accused belongs to the weakest economic strata: immediate loss of livelihood, and in several cases, scattering of families as well as loss of family bonds and alienation from society.

    Justice Bhat, who authored the judgment on behalf of the bench, said: “The courts therefore, have to be sensitive to these aspects (because in the event of an acquittal, the loss to the accused is irreparable), and ensure that trials – especially in cases, where special laws enact stringent provisions, are taken up and concluded speedily.”

    The top court noted that it would be important to reflect that laws which impose stringent conditions for grant of bail, may be necessary in public interest; yet, if trials are not concluded in time, the injustice wrecked on the individual is immeasurable.

    The bench noted the danger of unjust imprisonment is that inmates are at risk of “prisonisation” — a term described by the Kerala High Court in A Convict Prisoner v. State as “a radical transformation”.

    The court noted that the prisoner loses his identity, he is known by a number, loses personal possessions, has no personal relationships and also psychological problems result from loss of freedom, status, possessions, dignity, and autonomy of personal life.

    It said there is a further danger of the prisoner turning to crime, “as crime not only turns admirable, but the more professional the crime, more honour is paid to the criminal”.

    The apex court made these observations while upholding that an undue delay in trial can be a ground for grant of bail to an accused charged under the Narcotics Drugs and Psychotropic Substances Act 1985 (NDPS Act), despite the stringent conditions provided under Section 37.

    The apex court granted bail to a man, after noting that he had spent over seven years in jail in a NDPS case and trial was proceeding at snail’s pace.

    It observed that the right to speedy trial of offenders facing criminal charges is “implicit in the broad sweep and content of Article 21 as interpreted by this court”.

    Petitioner Mohd. Muslim moved the apex court challenging the Delhi High Court order, which rejected his bail application even though he already undergone imprisonment for more than seven years, and the criminal trial had barely reached the half-way mark.

    The appellant was accused of committing offences punishable under Sections 20, 25, and 29 of the NDPS Act. The top court noted that at the time of his arrest, the appellant was 23 years old and he was not found in possession of the narcotic drugs but the co-accused were. Also, the prosecution has not shown involvement of the appellant, in any other case.

    Petitioner’s counsel argued that the period of long incarceration suffered, entitled the appellant to grant of bail and also 34 more witnesses were yet to be examined, with little or no progress to the trial since the high court’s direction to expedite the trial.

    It was contended that the main and other co-accused had already been granted bail by the high court and petitioner’s counsel urged the court for bail on the ground of parity.

    Additional Solicitor General Vikramjit Banerjee strongly opposed grant of bail, citing Section 37 of the NDPS Act and contended that the appellant was actively involved in the commission of the offence — with call records and bank transactions implicating him with the main accused.

    He submitted that such cases are deeply concerning, as the accused persons are said to be involved in a drug peddling network. It was further argued that the public interest of protection against sale and use of illegal drugs outweighed the concerns regarding individual liberty of the accused, and justified continued custody of the appellant.

    The top court noted that the petitioner has been in custody since October 3, 2015, barring grant of interim bail from time to time, for wedding ceremonies and to take care of his ailing mother.

    “The appellant has been in custody for over seven years and four months. The progress of the trial has been at a snail’s pace: 30 witnesses have been examined, whereas 34 more have to be examined,” it noted.

    In conclusion, it said that the appellant is directed to be enlarged on bail, subject to such conditions as the trial court may impose.

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    #Loss #family #bonds #alienation #society #speaks #jail #inmates

    ( With inputs from www.siasat.com )

  • Govt authorises SBI to issue electoral bonds between April 3-12

    Govt authorises SBI to issue electoral bonds between April 3-12

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    New Delhi: The State Bank of India (SBI) has been authorised by the government to issue and encash electoral bonds through its 29 authorised branches across the country from April 3 till April 12.

    According to a Finance Ministry notification issued on Friday, the electoral bonds will be valid for 15 days from the date of issue and no payment will be made to any payee political party if the bond is deposited after expiry of the validity period.

    The electoral bond deposited by an eligible political party in its account can be credited on the same day.

    The government had notified the electoral bond scheme on January 2, 2018 and as per its provisions, electoral bonds can be purchased by a person who is a citizen of India or incorporated or established in India. A person being an individual can buy electoral bonds either singly or jointly with other individuals.

    Also, only political parties registered under Section 29A of the Representation of the People Act, 1951 (43 of 1951) and which have secured not less than one per cent of the votes polled in the last general election to the Parliament or state assemblies, are eligible to receive the electoral bonds.

    The bonds can be encashed by an eligible political party only through a bank account with the authorised bank.

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    #Govt #authorises #SBI #issue #electoral #bonds #April

    ( With inputs from www.siasat.com )

  • Nam Te Maaz Explained the Strong Communal Bonds of Kashmir

    Nam Te Maaz Explained the Strong Communal Bonds of Kashmir

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    by Maleeha Sofi

    SRINAGAR: In Kashmiri language and culture, Nam te Maaz depicts an unbreakable bond. This phrase was the title of the last play of the 8-day-long Theatre Festival Kashmir 2023.

    The play showcased the relationship between Kashmir Hindus and Kashmir Muslims and their journey over years.

    The play opened with a narration briefing about the living of both religions together in Kashmir until the 1990s when most of the Kashmir Hindus moved out. The narrator spoke about the brotherhood between the two and the unbreakable bond which remained unaffected after decades of separation and misunderstandings.

    It narrated the story of Roop Kishan Dhar who lived in Raj Bagh. He also left Kashmir in the 1990s and Jan Sahab, a local Kashmiri Muslim took care of his home.  Dhar would often visit his home even after going to Jammu and later settling in America.

    The stage showed two houses, one of a Hindu and the other of a Muslim. Religious signs were used to identity the two homes.

    The play starts with a conversation between Dhar and Jan Sahab. Dhar has visited Kashmir after a long time. He is seen in a Pheran, the traditional Kashmir cloak that is now being seen as part f Kashmir identity. They talk about their lives, children, and the changes that have occurred. Jan Sahab had a conversation with his wife after this where he also shares his connection with Dhar.

    The next conversation is again between Jan Sahab and Dhar where they talk about the time when Dhar left Kashmir and the conflict that continued. They recounted the loss that both sides faced.

    Nam te Maaz scaled
    Artists who performed theatre play Nam te Maaz in Tagore Hall as part of the Kashmir Theatre Festival 2023. KL Image: Bilal Bahadur

    Once in a conversation, Dhar noticed a window from Jan Sahab’s house that opened into Dhar’s land. The conversation turned into verbal duelling. Jan Sahab gives a word to Dhar on fixing the issue by removing the window.

    Afterward, in a monologue, Dhar talks to himself expressing his varied opinion about the matter. He seems to be confused about whether he has done right or wrong but then he convinces himself that if he would not do this Jan Sahab would gradually take over his whole land.

    The play is placed at a time when the Covid19 had started beginning and impacted the lives across the world. Dhar tested positive for the virus. He was quarantined. Jan Sahab did not stop going to his place. He would still go to Dhar with meals. This was despite the fcat that his family was quite upset with this behaviour as they thought the virus could spread to them.

    As Dhar recovered, he got ready to go back to America. While leaving, he expressed his gratitude to Jan Sahab and his family. He gives them gifts. Jan Sahab also reveals the truth about constructing the window from his side as it has been suggested by his father to keep an eye on Dhar’s home. Dhar realises his mistake and asks him to perish the wall separating both houses.

    The play was presented by JK Cultural Revolution, written by Sohan Lal Koul, directed by Gul Riyaz, designed by Hassan Javaid, assistant direction by Showkat Magray, and set design by Mohammad Yousuf Mir and Imran Farooq.  The characters were played by Qazi Faiz – Dhar, Hassan Javaid-Jan Sahab, Shafiya Maqbool – Jaan’s Wife, Aashiq Hussain- Zameer(Son), Syed Shabir Rizvi- paramedic.

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    #Nam #Maaz #Explained #Strong #Communal #Bonds #Kashmir

    ( With inputs from : kashmirlife.net )

  • Indian banks to issue bonds to maintain capital levels: CARE Ratings

    Indian banks to issue bonds to maintain capital levels: CARE Ratings

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    Chennai: With credit off-take increasing, Indian banks are expected to issue bonds to maintain their capital levels and support their advances while cost of funds — deposits and borrowings are likely to increase, said CARE Ratings.

    “To support credit-off take, banks are expected to shore up their liability franchise by raising capital (AT1 bonds, other debt instruments such as infrastructure bonds) and deposits. The market has been facing lower liquidity and elevated inflation, hence borrowing costs for deposits and the cost of raising capital are expected to increase,” the credit rating agency said in a report.

    The banks are increasing their interest rates for deposits and plans for bonds issue. Further, profitability is also expected to support the capital base of the banks. Overall, the scheduled commercial banks (SCB) are expected to remain adequately capitalised in the near term.

    All SCBs have maintained their Capital Adequacy Ratio (CAR) greater than the minimum required level for Q3FY23. The median CAR and Common Equity Tier 1 (CET-1) ratio of SCBs witnessed a rise in Q3FY23 over Q3FY22 and Q3FY21, the report notes.

    According to CARE Ratings, the net profit of SCBs grew by 45 per cent year-on-year (y-o-y) to Rs 0.65 lakh crore in Q3FY23 driven by a higher pre-provisioning operating profit (PPOP) growth compared to a lower growth in provisions.

    The net interest income growth and stability in non-interest income helped PPOP to grow by 28.5 per cent y-o-y to Rs 1.30 lakh crore in Q3Y23. Meanwhile, provisions rose by 9.1 per cent to Rs 0.38 lakh crore.

    Public sector banks’ net profit rose by 64.3 per cent y-o-y to Rs 0.29 lakh crore in Q3FY23, meanwhile private sector banks’ grew by 32.2 per cent y-o-y to reach Rs 0.35 lakh crore in Q3FY23, the report added.

    Return on Assets of SCBs improved by 28 bps y-o-y to 1.23 per cent. At present, banks are in a better position after navigating the Covid period and managing mounted NPAs.

    Healthy credit growth, improvement in asset quality, and lower growth in provisions due to lower incremental slippages and reduction in restructuring books are expected to generate healthy net profit growth.

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    #Indian #banks #issue #bonds #maintain #capital #levels #CARE #Ratings

    ( With inputs from www.siasat.com )

  • Pakistan considers issuing energy bonds for tech up-gradation in industry: official

    Pakistan considers issuing energy bonds for tech up-gradation in industry: official

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    Islamabad: The Pakistani government is contemplating releasing energy-saving certificates and energy conservation bonds to encourage technological up-gradation in industry, a Pakistani official said.

    Sardar Mohazzam, managing director of the National Energy Efficiency and Conservation Authority of Pakistan, made the remarks during a seminar on decarbonizing the cement sector organized by the Sustainable Development Policy Institute, an Islamabad-based think tank, Xinhua News Agency reported.

    Mohazzam said that the cement sector holds immense potential for de-carbonization and energy efficiency, and “we must analyze and take inspiration from policy initiatives being implemented in China” in this regard.

    He reiterated that energy security is a top priority for the government, but pricing remains a pertinent challenge in the uptake of renewables and de-carbonization of hard-to-abate sectors.

    Mohazzam added that a designated consumer regime equipped with benchmarks and energy audits to catalyze the uptake of renewables and emission reduction from the industrial sector is in the pipeline and would soon set the right regulatory direction for the sector.

    Syed Fawad Hussain Shah, senior assistant manager at the Center for Industrial and Building Energy Audits, a state-funded energy auditing company, stressed the need for improving public awareness regarding green cement and updating the building code of Pakistan to influence the sector to shift from grey to green cement, which is eco-friendly.

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    #Pakistan #considers #issuing #energy #bonds #tech #upgradation #industry #official

    ( With inputs from www.siasat.com )