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State Bank of India’s Demonetisation Deposits swell to Rs 75,945 Crore, after PM Modi’s Masterstroke Move

The total value of cash withdrawals during the period under review was Rs.7,705 crore from 103.09 lakh transactions

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State Bank of India, Chandni Chowk, Delhi. Wikimedia

Chennai, Nov 14, 2016: India’s largest lender State Bank of India (SBI) has seen Rs.75,945 crore in deposits since the demonetisation of high-denomination currency notes on November 8, said a senior official on Sunday.

“The cumulative deposits (of invalid Rs.500 and Rs.1,000 notes) position for the period 10.11.2016 to 13.11.2016 (till 5 p.m.) is Rs.75,945 crore from 165.78 lakh transactions,” said the official, who wished not to be identified.

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The official said the bank has exchanged old notes for valid legal tenders worth Rs.3,753 crore in 103.09 lakh transactions.

The total value of cash withdrawals during the period under review was Rs.7,705 crore from 103.09 lakh transactions.

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On Tuesday, the Centre announced that Rs.500 and Rs.1,000 notes would cease to be legal tender from November 8 midnight. (IANS)

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Prince Charles Arrives in New Delhi for two day Visit to Meet PM Narendra Modi

Prince Charles, the Prince of Wales, accompanied by his wife arrived New Delhi for a two-day visit to India to complete their 10-day four-nation tour

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Prince Charles visits India with his wife for two days. Wikimedia.

New Delhi, Nov 9: Prince Charles, the Prince of Wales, accompanied by his wife, the Duchess of Cornwall, Camilla Parker-Bowles, arrived New Delhi on Wednesday on a two-day visit to India at the final leg of their 10-day four-nation tour that also took them to Singapore, Malaysia and Brunei.

“Their Royal Highnesses Prince of Wales and the Duchess of Cornwall arrive,” the British High Commission in India tweeted.

Prince Charles is scheduled to meet Prime Minister Narendra Modi on Wednesday evening and discuss a wide range of issues, including that of the Commonwealth Heads of Government Meeting (CHOGM) which will take place in April 2018 in the UK.

Prince Charles
Prince Charles arrives in India with his wife. IANS.

Ahead of the royal couple’s arrival, External Affairs Ministry spokesperson Raveesh Kumar said climate change, Sustainable Development Goals (SDGs), economic cooperation, and other bilateral issues would also come up for discussion.

Bilateral trade between India and Britain stands at $12.19 billion. India is the third largest investor in Britain and the second largest international job creator in that country.

Britain is the third largest inward investor in India, with a cumulative equity investment of $24.37 billion for the period April 2000-June 2017

The Indian diaspora in UK is one of the largest ethnic minority communities in the country, with the 2011 census recording approximately 1.5 million people of Indian origin equating to almost 1.8 percent of the population and contributing 6 per cent of the country’s GDP.

This will be Prince Charles ‘s ninth visit to India. He had earlier visited India in 1975, 1980, 1991, 1992, 2002, 2006, 2010 and 2013. (IANS)

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Editorial Freedom Should be used Wisely in Public Interest says PM Narendra Modi to Media

Prime Minster Narendra Modi on Monday said that editorial freedom should be used in public interest and urged the newspapers to devote space to increase awareness about climate change

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PM Narendra Modi speaks about Editorial Freedom. Wikimedia

Chennai, Nov 6: Prime Minster Narendra Modi on Monday said that editorial freedom should be used in public interest and urged the newspapers to devote space to increase awareness about climate change.

Speaking at the 75th anniversary celebrations of Tamil newspaper Daily Thanthi at the Madras University Centenary Auditorium, Modi said lot of things happen around the world and the editors decide what is important to be published in their newspapers.

He said: “Editorial freedom should be used wisely and in public interest.”

Pointing out the natural calamities occurring around the world at regular intervals, PM Modi urged newspapers to allocate space to increase awareness about climate change.

Narendra Modi said the freedom to write does not in anyway reduce the importance to be accurate and correct, adding that though media outlets may be owned by the private sector, they serve a public purpose, have much social accountability and their conduct should be above board.

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Media must use editorial freedom with public interest, says PM Modi. Wikimedia.

He said technological advancement enables citizens to compare, discuss and analyse the credibility of news and the media should take extra caution to maintain its credibility.

According to him, reform in media can come from within and through introspection.

Observing most of the media discourse revolves around politics, Modi said the nation is made of over a billion people and the media should focus on the people and their achievements.

Citing the spread of mobile phones, Modi said citizen reporting is important in showcasing individual achievements and also helping in the aftermath of natural disasters.

PM Narendra Modi also released a souvenir.

Governor Banwarilal Purohit, Defence Minister Nirmala Sitharaman, Union Minister of State for Finance and Shipping Pon Radhakrishnan, Chief Minister K. Palaniswami and his deputy O.Pannerselvam also participated in the function.

Paying encomiums to the founder of Daily Thanthi S.P. Adithanar and his son Sivanthi Adithan, Palaniswami said the daily would certainly see centenary celebrations.

Leaders of several political parties, law makers, industrialists, movie actors and diplomats attended the function.

Earlier on his arrival PM Modi was received by Purohit, Palaniswami and others at the airport.

From the airport Modi reached the INS Adyar naval base here in a helicopter.

At INS Adyar, Modi had a meeting with Palaniswami and discussed about the rain and relief situation in Chennai and neighbouring districts. (IANS)

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India will become High-Middle Income Country by 2047, says World Bank CEO

World Bank CEO Kristalina Georgieva on Saturday said she has no doubt that India will be a high-middle income country by 2047.

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World Bank CEO Kristalina Georgieva. IANS.

New Delhi, Nov 4: Lauding India’s increasing per capita income, World Bank CEO Kristalina Georgieva on Saturday said she has no doubt that India will be a high-middle income country by 2047 when it completes its centenary year of independence.

“In the last three decades, India’s per capita income has quadrupled. I have no doubt India when it hits its century of independence in 2047, will be a high-middle income country,” Georgieva said while addressing India’s Business Reforms conference at Pravasi Bharatiya Kendra here.

Georgieva praised India for its sudden jump of 30 ranks in 2017, the biggest leap ever, in the history of the ease of doing business.

World Bank CEO
Indian Prime Minister Narendra Modi. Wikimedia.

“We are here to celebrate a very impressive achievement. In 15 years of the history of the ease of doing business, such a jump of 30-ranks in one year is very rare. In cricket, I understand that hitting a century is a big milestone.”

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She hailed Prime Minister Narendra Modi for his “high-level ownership” efforts and “championship of reforms” that led to achieve India such a ranking in ease of doing business.

Reminding Guru Nanak Dev’s preachings, the World Bank CEO said: “Today is also the anniversary of Guru Nanak which reminds me of his words that whatever seed is sown, the plant will grow thus.” (IANS)