Tag: raises

PM holds massive road-show in Bengaluru as BJP raises poll pitch

[ad_1]
Bengaluru: With just four days left for Assembly polls in Karnataka, Prime Minister Narendra Modi on Saturday held a massive road show in the city, waving at a large number of enthusiastic crowd, who had lined up on both sides of the route.
The 26 km roadshow from Someshwar Bhavan RBI Ground in Bengaluru South to Malleshwaram’s Sankey Tank, was covered in about three hours.
Modi’s roadshow traversed through parts of south and central Bengaluru, touching about a dozen Assembly segments.

The Prime Minister was accompanied by Bengaluru South MP, Tejasvi Surya and Bengaluru Central MP, P C Mohan.
Standing on the specially designed vehicle, Modi greeted the crowd gathered on the sides of the roads and on nearby buildings, many of whom were seen chanting ‘Modi, Modi’, ‘Jai Bajarangbali’, ‘Bharat Mata ki Jai’ slogans and shouting loud cheers in what appeared to be a “festive atmosphere” in several places.
At many places, people showered flower petals as his cavalcade passed through the stretch slowly, amid sounds of drum beats. The Prime Minister too responded by showering the flower petals gathered on the vehicle, back at the crowd.
Massive arrangements had been made along the stretch, including erecting barricades, to ensure that the roadshow goes on smoothly. Tight security was put in place.
According to state BJP sources, tens of thousands of people had gathered along the roadside.

The entire distance was decked up with saffron hues as BJP flags were seen on either side of the road, and thousands of party workers and supporters too were wearing saffron shawls and caps. Saffron flag, which looked like the ‘Bhagwa flag’ with lord Hanuman’s face on it, was spotted at several places.
Cultural teams were also stationed at different places along the stretch to welcome Modi. A group of women ‘Pourakarmikas’ (civic workers) were seen gathered at a spot to greet Modi.
The much shorter roadshow, about 10 km, between Kempegowda statue at Thippasandra to Trinity circle, will be held on Sunday.
Keeping National Eligibility cum Entrance Test (NEET) in mind, the BJP on Friday modified Modi’s two-day roadshow in Bengaluru, by scheduling the extensive event today and shorter one on May 7.
The roadshow, earlier scheduled to be held for eight hours on Saturday alone, was split into two parts on Saturday and Sunday to avoid inconvenience to the public.
[ad_2]
#holds #massive #roadshow #Bengaluru #BJP #raises #poll #pitch
( With inputs from www.siasat.com )

May 6, 2023
Ocasio-Cortez says Thomas’ statement raises ‘more serious questions’

[ad_1]
Thomas issued his statement Friday after ProPublica reported that Crow had paid for multiple trips for the justice and his wife, which included the use of Crow’s yacht, private jet and Adirondacks resort, among other gifts. ProPublica estimated the cost of one vacation as more than $500,000.
New regulations were put into place on March 14 by a Judicial Conference committee to require Supreme Court justices and federal judges to disclose complimentary trips and any other such gifts. In his statement, Thomas promised to follow those restrictions moving forward.
The news sparked outrage among Ocasio-Cortez and many of her Democratic colleagues. She has already called for Thomas’ impeachment and on Sunday said the justice’s actions indicate other consequences for the court.
“I do believe that Chief Justice John Roberts must now come forward and state if he allows, and is allowing this kind of very serious corruption to happen on this court,” she said. “I know that there are calls for Chief Justice Roberts to initiate an investigation. I do not think that this Court any longer has any legitimacy, especially after the Supreme Court leak last year.”
Ocasio-Cortez claimed that it’s the House’ responsibility to oversee an investigation. When asked by CNN’s Dana Bash how a Republican-controlled House would accomplish that, Ocasio-Cortez said: “I admit it is, it is very difficult to see a path in a Republican Party that refuses to hold itself accountable, and in fact, breaches the law itself” — referencing former President Donald Trump’s indictment.
“If it is Republicans that decide to protect those who are breaking the law, then they are the ones who then are responsible for that decision, but we should not be complicit in that,” she said.
Crow, a real-estate developer from Texas, is a director at the conservative American Enterprise Institute and serves on the boards of the American Enterprise Institute, George W. Bush Foundation, and the Supreme Court Historical Society, Reuters reported. He helped found Club for Growth, an influential anti-tax group.
[ad_2]
#OcasioCortez #Thomas #statement #raises #questions
( With inputs from : www.politico.com )

April 9, 2023
Rockets fired at Israel from Lebanon raises risk of conflict

[ad_1]

The U.N. peacekeeping force in south Lebanon, known as UNIFIL, said in a statement that there had been “multiple rocket launches from southern Lebanon toward Israel” and the the Israeli army had informed UNIFIL that it activated its Iron Dome defense system in response.
The head of the peacekeeping force, Maj. Gen. Aroldo Lázaro has been in contact with both Lebanese and Israeli authorities, the statement said. “The current situation is extremely serious. UNIFIL urges restraint and to avoid further escalation,” it added.
Earlier on Thursday and late Wednesday night, Palestinian militants in Gaza had fired rockets toward Israel in protest over an escalation at the Al-Aqsa Mosque compound in the heart of Jerusalem’s Old City.
No faction in Lebanon claimed responsibility for the salvo of rockets, which set off air raid sirens across the country’s north and which Israeli media estimated to be larger than previous launches from Lebanon in recent years.
Lebanese security officials who spoke on condition of anonymity because they were not authorized to brief the media said the rockets had been fired from the area of a Palestinian refugee camp — suggesting that the rockets had been fired by Palestinian militants based in Lebanon.
The Israeli military said that one of the rockets was shot down by Israel’s Iron Dome aerial defense system and did not immediately say how many missiles had struck the country. Israeli medics reported that a 19-year-old male was hit by shrapnel and mildly wounded, while a 60-year-old woman was injured after falling as she sprinted to a bomb shelter.
Israeli Prime Minister Benjamin Netanyahu said he’d convene his security cabinet late Thursday to discuss the assault and possible retaliation. Israeli forces shelled south Lebanon in response to the rocket fire, Israeli and Lebanese security officials said. Lebanon’s state-run National News Agency reported that Israeli tanks along the border targeted two towns near the Rashidiyeh Palestinian refugee camp.
The Palestinian militant group Islamic Jihad hailed the rockets as “a heroic operation against the Israeli crimes in the Al-Aqsa Mosque.” The leader of the Palestinian Hamas group that rules Gaza, Ismail Haniyeh, also arrived in Beirut on Wednesday, Lebanese state media reported.

The compound home to the Al-Aqsa Mosque is the third-holiest site in Islam and stands on a hilltop known to Jews as the Temple Mount, revered as the holiest site in Judaism. Conflicting claims over the site have spilled into violence before, including a bloody 11-day war two years ago between Israel and Hamas, the Islamic militant group that rules Gaza.
For the past two nights — a volatile time during which the Muslim holy month of Ramadan and the Jewish holiday of Passover overlap — Palestinians have tried to barricade themselves in the mosque in protest over threats by religious Jews to sacrifice animals at the sacred site and over perceived Israeli restrictions to Muslim prayers.
Palestinians have been trying to pray overnight at the mosque, which is typically only permitted during the last 10 days of the monthlong holiday. In the last days, Israeli police have stormed into the mosque, firing tear gas and stun grenades and fiercely beating Palestinians, who set off firecrackers and hurled stones.
Lebanon’s militant Hezbollah group condemned the storming of the mosque, calling it “a flagrant violation of believers in Jerusalem that violated religious, moral and human values.”
Muslim leaders around the Middle East have criticized the Israeli actions in Al-Aqsa, including Turkish President Recep Tayyip Erdogan, whose country recently reconciled with Israel and restored full diplomatic ties.
“Interventions and threats against the historical status and spirituality of Al-Aqsa Mosque as well as the Palestinians’ right to life and religious beliefs must come to an end,” Erdogan told Turkey’s 24 TV.
[ad_2]
#Rockets #fired #Israel #Lebanon #raises #risk #conflict
( With inputs from : www.politico.com )

April 6, 2023
AAP again raises question on genuineness of Prime Minister Modi’s degrees

[ad_1]
New Delhi: The Aam Aadmi Party (AAP) on Sunday raised questions on the genuineness of Prime Minister Narendra Modi’s degrees and claimed that they would turn out to be fake if a probe is conducted.
Chief Minister Arvind Kejriwal and his party have launched a fresh attack on the issue since the Gujarat High Court on Friday quashed a seven-year-old order of the Central Information Commission (CIC) that had asked the Gujarat University to provide information on Modi’s degree to Kejriwal and also imposed a fine of Rs 25,000 on the AAP chief.
AAP had raised the issue in 2016 also and the then BJP chief Amit Shah and the then finance minister Arun Jaitley had displayed Modi’s degrees during a press conference to debunk its allegations and demanded an apology from the Delhi chief minister for trying to defame Prime Minister Narendra Modi.

On Sunday, AAP Rajya Sabha MP and national spokesperson Sanjay Singh asked the prime minister to reveal the truth before the nation, saying if his degrees turn out to be fake, he would lose his Lok Sabha membership and also become ineligible to contest elections for submitting wrong information to the Election Commission.
“Entire BJP is rattled since the issue of the prime minister’s degree came to the fore. All the ministers and spokesperson of the BJP have scrambled to prove that the prime minister’s degree is not fake,” the AAP leader told a press conference here.
“If a probe is conducted the prime minister’s degrees would turn out to be fake and his (Lok Sabha) membership will be cancelled,” he claimed, referring to the Election Commission’s rules.
“He will neither remain an MP nor remain eligible to contest elections because the prime minister has committed a big fraud,” he alleged.
The BJP has, however, alleged that Kejriwal was attacking Prime Minister Modi as probe agencies have been unearthing “proof” of corruption of the AAP government including in the Delhi excise policy scam.

Addressing a separate press conference, AAP chief spokesperson Saurabh Bharadwaj said the question is not about Prime Minister Modi’s academic qualification but “moral turpitude” if he has made a false claim about his qualification and obtained a fake degree.
“Should a person, who is morally so narrow-minded and has even procured a fake degree, be a prime minister, chief minister, minister, deputy chief minister, MLA or MP?” Bharadwaj said.
The answer to this question is no, he added.
According to the Election Commission’s rules, Singh said, candidates contesting elections have to submit details about their assets and properties as well as academic qualifications.
And the Election Commission rules say that if you submit wrong information about your degree or property, your membership can be cancelled, Singh added.
At the press conference, the AAP leader showed a purported copy of Modi’s degree issued by Gujarat University and highlighted the alleged wrong spelling of the word University in the document in a bid to substantiate his claim that it is fake.
“The degree of the prime minister which has been made public and once shown by home minister Amit Shah at a press conference raises many questions,” he said
“Here spelling of the word university has been written as unibersity This is the degree which Home Minister Amit Shah had shown at a press conference, saying Modi did MA from Gujarat University,” the AAP leader said, pointing to the purported document.
He also claimed that the font used to print ‘Master of Arts’ in his degree was introduced in 1992 while the prime minister said that he had done his MA from the varsity in 1983.
“He has come after studying entire political science from Unibercity,” the AAP leader said while taking a dig at this.
Singh also ran a purported video of Modi where he could be heard saying that he did not continue his studies after school education in his village and asked if prime minister Modi got his bachelor’s degree in 1979 from Delhi University and he did MA from Gujarat University in 1983 why did he make such a statement after becoming Gujarat chief minister in 2005-06.
The AAP leader also termed as “shocking and ironical” the Gujarat High Court’s verdict on the prime minister’s degree issue.
“Gujarat High Court verdict was ironical and shocking as the CIC had ordered Gujarat University to show Modi’s degree and the varsity filed an appeal against this order.”
“But, Gujarat High Court imposed a fine on Arvind Kejriwal who had nothing to do with it. He had not even gone to file the appeal, the AAP leader told reporters.
Kejriwal had filed the RTI application in the matter.
“I have only one question today. Whether in the 21st century, India’s prime minister should be educated or not. Does India need an educated PM,” the AAP chief had said on Saturday, adding if there is a valid degree of Modi, why is Gujarat University not showing it.
Gujarat University is unwilling to part with the information on Modi’s degree either due to his arrogance or his degree is fake, Kejriwal charged, firing a fresh salvo at the prime minister.
[ad_2]
#AAP #raises #question #genuineness #Prime #Minister #Modis #degrees
( With inputs from www.siasat.com )

April 2, 2023
Gujarat HC’s order on PM Modi’s degree raises more suspicion: Kejriwal

[ad_1]
New Delhi: People, who have the right to know about the academic qualification of Prime Minister Narendra Modi, are “stunned” by the Gujarat High Court’s verdict, Delhi Chief Minister Arvind Kejriwal said on Saturday.
The Gujarat High Court on Friday quashed a seven-year-old order of the Central Information Commission (CIC) which had asked the Gujarat University to provide information on Modi’s degree to Kejriwal.
Allowing the Gujarat University’s appeal against the CIC order, Justice Biren Vaishnav also imposed a fine of Rs 25,000 on Kejriwal and asked him to deposit the amount within four weeks to the Gujarat State Legal Services Authority (GSLSA).
“Entire country is stunned by the High Court’s order because there should be a freedom of seeking information and asking questions in a democracy,” Kejriwal said at a press conference here.
“The High court’s order has increased the suspicion over the prime minister’s education,” he charged.
If the prime minister had studied from Gujarat University or Delhi University, they should have been celebrating it, instead they are hiding the information, the Delhi chief minister said.
“If there is a valid degree of Modi, why Gujarat University is not showing it,” he asked.
There can only be two reasons why Gujarat university is not ready to give information on the prime minister’s academic qualification it’s either due to Modi’s arrogance, or, his degree is fake, Kejriwal said.

He, however, went on to add that being illiterate is not “a crime or sin” as there is so much poverty in the country. “Many of us are not in a position to get formal education due to financial conditions in the families.”
Such rank poverty continues to afflict the nation even after 75 years of independence, he added.
Kejriwal pressed on with his question on Modi’s education, saying the question becomes imperative since being the “top manager” of the country, Modi has to take so many important decisions every day, including those pertaining to science and economy.
“If the prime minister is not educated then the officers and various types of people will come and get his signature anywhere, get passed from him anything, like the note ban (demonetisation) due to which the country had to suffer a lot,” he charged.
“If the prime minister modi was educated he would not have implemented the note ban,” the CM added.
[ad_2]
#Gujarat #HCs #order #Modis #degree #raises #suspicion #Kejriwal
( With inputs from www.siasat.com )

April 1, 2023
Mamata sits overnight in ‘dharna’ against Centre, raises political temperature

[ad_1]
Kolkata: West Bengal Chief Minister Mamata Banerjee sat overnight in front of Dalit icon Dr B R Ambedkar’s statue on Red Road in the heart of the metropolis, surrounded by a cohort of TMC leaders and workers under television camera arclights.
Banerjee, who is staging a two-day sit-in to protest alleged discrimination by the Centre against the state, had Wednesday in a change of stance urged all political parties in the country to unitedly fight the BJP in next year’s Lok Sabha election.
This is a departure from an earlier decision to remain equidistant from both the Congress and the right-wing party ruling India’s federal polity.
The Trinamool Congress supremo was accompanied by several party leaders, including Firhad Hakim and Aroop Biswas at the protest site.
Banerjee’s 30-hour demonstration is likely to end around 7 pm on Thursday.
Security measures in and around the venue were tightened keeping in mind the presence of high-profile leaders, a senior officer of Kolkata Police said.
Banerjee started the sit-in from Wednesday noon, protesting against the Centre’s “stoppage” of funds to the state for MGNREGA and other schemes of the housing and public works departments.
Stating that the 2024 Parliamentary polls will be a fight between the citizens of the country and the BJP, Banerjee had Wednesday asserted that people across religions must unite to defeat the saffron party and save the poor of the country.

She described the BJP as ‘Dushasana’ and ‘Duryodhana’ the two antagonists from the epic Mahabharata’.
“I urge every political party in India to unite to oust this Dushasana’ BJP government. This Duryodhana’ BJP should be removed from power to save the country’s common man as well as Indian democracy,” Banerjee said.
Kolkata has been witnessing a flurry of political activity ahead of the panchayat elections slated for this summer, which has now received a green signal from the Calcutta High Court.
The state’s political temperature has risen by a few notches with rallies by Banerjee’s nephew and TMC leader Abhisek, BJP’s Suvendu Adhikari and a march organised by the Left-Congress alliance, alongside the sit-in, which has been drawing large crowds of onlookers.
[ad_2]
#Mamata #sits #overnight #dharna #Centre #raises #political #temperature
( With inputs from www.siasat.com )

March 30, 2023
Saudi: Haramain train raises daily trips to 100 during Ramzan

[ad_1]
Riyadh: Haramain High-Speed Railway has increased over 100 daily trips to transport pilgrims between Saudi Arabia’s Makkah and Madinah during the holy month of Ramzan, local media reported.
This comes to facilitate the flow of pilgrims and visitors in both directions between the two holy cities during the peak of the annual Umrah season.
Ramzan is usually the peak season for Umrah.
According to Arabic daily Okaz, the railways department has made detailed arrangements to deal with the massive influx of Umrah pilgrims and visitors to the Kingdom of Saudi Arabia via King Abdulaziz International Airport in Jeddah and Prince Muhammad International Airport in Madinah during the month of Ramzan.
Haramain express train connects the regions of Makkah and Madinah in only 120 minutes, passing through Jeddah and King Abdullah Economic City, with a length of 450 km, and capacity of 60 million passengers annually.
It is worth noting that the Haramain express train operates on electric power, and its speed reaches 300 km/h. It performs various trips between Makkah, Madinah, Jeddah and King Abdullah Economic City.
The train provides speed, safety and comfort for passengers, as each of the trains contains 417 seats distributed between two classes; Business and economic, as well as a cafeteria located in the fifth trailer.
It has operated more than 25,000 trips so far with an accuracy of 95 per cent achieved in the services provided by the railways.

[ad_2]
#Saudi #Haramain #train #raises #daily #trips #Ramzan
( With inputs from www.siasat.com )

March 29, 2023
Karantaka: BJP raises poll pitch in Old Mysuru with ambition to regain power

[ad_1]
Bengaluru: With Assembly elections round the corner, the BJP is focused on the Old Mysuru region, where significant electoral gains are seen to be crucial for the party to come back to power in Karnataka on its own.
For decades, the BJP has struggled to spread its wings in the Vokkaliga community-dominated Old Mysuru region, with the well entrenched JD(S) and Congress holding sway.
The region comprises Ramanagara, Mandya, Mysuru, Chamarajanagar, Kodagu, Kolar, Tumakuru and Hassan districts.
JD(S) leader and former Chief Minister H D Kumaraswamy and President of the Karnataka Pradesh Congress Committee (KPCC) D K Shivakumar belong to this community.
Among the 58 Assembly seats in these districts, JD(S) represents 24, Congress 18 and BJP 15. BJP also has the backing of expelled BSP MLA N Mahesh, who represents Kollegal in Chamarajanagar district.
In the Vokkaliga heartland of Mandya district, the JD(S) has six out of seven MLAs, three of four MLAs in Ramanagara and six of the seven seats in Hassan.
The JD(S) has four out of 11 seats in Mysuru, whereas the Congress has four and BJP three in this district.
The regional party also has three seats in Tumakuru but the party is wary about the Gubbi MLA S R Srinivas who allegedly voted in favour of the BJP candidate during the Rajya Sabha elections in June last year.
The BJP top brass has acknowledged that improving the electoral tally in this region is key to regaining power on its own steam.
The party came to power in Karnataka four times and every time it emerged as the single largest party but fell short of the majority mark.

Twice, the party had to allegedly resort to ‘Operation Lotus’ to woo disgruntled opposition members and form a majority government.
The BJP, however, put up an impressive show in the 2019 Lok Sabha elections, winning 25 of the 28 seats.
Shivakumar’s brother D K Suresh won from Bengaluru Rural Lok Sabha constituency and JD(S) supremo and former prime minister H D Deve Gowda’s grandson Prajwal Revanna emerged victorious in Hassan.
To BJP’s comfort, the party backed independent candidate Sumalatha Ambareesh won from Mandya constituency, which had always been a JD(S) citadel.
The actor-turned-politician Sumalatha who defeated Deve Gowda’s grandson and former Chief Minister H D Kumaraswamy’s son Nikhil Kumaraswamy in the 2019 Lok Sabha elections, extended her ‘full support’ to the BJP on March 11, a day ahead of Prime Minister’s visit to Mandya to launch a slew of projects including the most ambitious one Bengaluru-Mysuru Expressway.
The inauguration could have been done either in Mysuru or Bengaluru, but the Prime Minister opted for Mandya.
“The voters of Mandya hardly get carried away by emotional issues,” a political analyst said.
The JD(S) suffered a blow when the KR Pet MLA K C Narayana Gowda ditched the party during the “Operation Lotus” in 2019 and was among the MLAs who resigned from the Assembly, joined the BJP and successfully contested the by-election on a BJP ticket and became a minister.
With this, the BJP got its first legislator from the JD(S) citadel, Mandya.
[ad_2]
#Karantaka #BJP #raises #poll #pitch #Mysuru #ambition #regain #power
( With inputs from www.siasat.com )

March 19, 2023
‘Attacks on temples’: PM Modi raises issue with Aus PM Anthony Albanese

[ad_1]
New Delhi: Prime Minister Narendra Modi on Friday raised with his Australian counterpart Anthony Albanese the issue of recent attacks on temples in Australia even as the two leaders focused on concluding an ambitious trade pact by this year and bolster security cooperation in the Indo-Pacific during their first summit talks.
The two sides inked four agreements providing for cooperation in areas of sports, innovation, audio-visual production and solar power following the talks between Modi and Albanese.
The discussions were focused on boosting cooperation in clean energy, trade and investment, defence and security, critical minerals, migration and mobility, supply chains, education, culture and sports.
In his media statement, Modi said it is a matter of regret that reports of attacks on temples have come regularly from Australia over the past few weeks and that it is natural that such news worries everyone in India.
“It is a matter of regret that reports of attacks on temples have come regularly from Australia over the past few weeks. It is natural that such news worries everyone in India, disturbs our mind,” Modi said in the presence of Albanese.
“I conveyed these feelings and concerns to Prime Minister Albanese and he has assured me that the safety of the Indian community is of special priority for him. Our teams will be in regular contact on this matter, and will cooperate as much as possible,” he said.
In his comments, Albanese said Modi and he agreed on concluding the India-Australia Comprehensive Economic Cooperation Agreement (CECA) as soon as possible.
“I am hopeful that we will be able to finalise it this year,” the Australian prime minister, who is on a three-day visit to India, said.

Last year, India and Australia finalised the Economic Cooperation Trade Agreement (ECTA) and it came into force in December last. The two sides are now working on the CECA.
Modi said the bilateral security cooperation is an important pillar of India-Australia comprehensive strategic partnership.
“Today we discussed maritime security in the Indo-Pacific region, and enhancing mutual defence and security cooperation,” he said.
It is understood that concerns over China’s increasing military assertiveness in the Indo-Pacific figured in the discussions.
“In the field of defence, we have made remarkable agreements in the last few years, including logistics support for each other’s militaries. There is also regular and useful exchange of information between our security agencies, and we discussed further strengthening this,” Modi said.
The prime minister also noted that mutual cooperation to develop reliable and strong global supply chains also figured in the discussions.
In his remarks, Albanese described his country’s relationship with India as “multi-faceted” and said he was looking forward to hosting Modi in Australia for the Quad leaders’ summit in May and then returning to India in September for the G20 summit.
“Prime Minister Modi and I discussed the strength of our economic relationship demonstrated by the entry into force of the landmark India Australia economic cooperation and trade agreement,” he said.
On the comprehensive economic cooperation agreement, he said this “transformational deal” will realise the full potential of the bilateral economic relationship.
“I am proud of the existing cooperation between Australia and India on solar and hydrogen, two technologies that are critical to our energy transition goals and the opportunities for us to work more closely to secure critical mineral supply chains,” Albanese said.
“I’m pleased that today we have exchanged terms of references for the Australia India Solar Task force,” he said.
The visiting leader said Modi and he discussed the increasingly uncertain global security environment and committed to strengthening the Australia India defence and security partnership to address shared challenges as well as to work towards an open, stable and prosperous Indo Pacific.
“I welcome increased defence information sharing between Australia and India, including in the maritime domain,” he said.
Albanese said Australia is honoured to be hosting the Malabar naval exercise this year.
“I am also pleased to report that officials have made significant progress on a new migration and mobility partnership arrangement. This arrangement will promote and support the mobility of students, graduates, academic researchers, business people and other professionals,” he said.
“I am pleased to have exchanged a revised sports memorandum of understanding today which will promote cooperation between our sport-loving nations, including recognising equality, diversity and inclusion in sports,” he said.
[ad_2]
#Attacks #temples #Modi #raises #issue #Aus #Anthony #Albanese
( With inputs from www.siasat.com )

March 10, 2023
SBI raises Rs 3,717 crore via bond issuance

[ad_1]
Delhi: The State Bank of India (SBI), the country’s largest lender, has raised Rs 3,717 crore through its third Basel III compliant Additional Tier 1 bond issuance in the current financial year on Wednesday, at a coupon rate of 8.25 per cent.
The proceeds of the bonds will be utilised in augmenting Additional Tier 1 Capital and the overall capital base of the bank and strengthening capital adequacy in accordance with RBI guidelines.
The tenor of these bonds is perpetual with a call option after 10 years and every anniversary thereafter.
The issue attracted an overwhelming response from investors with bids of Rs 4,537 crores and was oversubscribed by about 2.27 times against the base issue of Rs 2,000 crore, a statement issued by the SBI said.
The total number of bids was 53, indicating wider participation. The investors were across provident & pension funds and insurance companies, the statement added.
Subscribe us on
[ad_2]
#SBI #raises #crore #bond #issuance

( With inputs from www.siasat.com )

March 9, 2023