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Did not write off any corporate loans: Jaitley in RS

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Arun Jaitley

New Delhi, Jan 2: Union Finance Minister Arun Jaitley said on Tuesday that the central government has not written off any corporate loans and such assumptions were just “misconceptions”.

Responding to a question that the centre had reportedly written off corporate loans of Rs 55,000 crore (almost $9 billion), Jaitley said: “Let me clarify that neither the government nor the banks wrote off any loans”.

“Only when a loan remains non-performing after four years, and the bank feels that the chances of its recovery are slim, it changes the category of the loan. But the debtor’s responsibility is to pay back remains. The bank does this provisioning to get relief in the Income Tax,” he asserted.

In response to supplementaries, the Finance Minister stated that in the asset quality review undertaken by the Reserve Bank of India (RBI) in 2015, it found that in the non-performing loans there were cases where the banks did aggressive lending, or did not do proper risk assessment and there were also cases of wilful default.

“Every such (non-performing) account has a different story. So in these cases whatever action under the law can be taken, is being taken. Where the criminal liability can be fixed, it is being fixed. And where business losses are the reason, the recovery process or the Insolvency procedure are on,” he said.

However, Jaitley ignored a direct answer to a question by Congress leader and former Finance Minister P. Chidambaram who demanded to know as to how many loans given after April 1, 2014 have turned non-performing assets.

IANS

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VK Sasikala released from prison after serving 4-year jail-term

The release of 64-year-old close aide of former Tamil Nadu chief minister J Jayalalithaa comes months ahead of assembly elections

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Sasikala

Expelled AIADMK leader VK Sasikala and a close aide of former Tamil Nadu chief minister J Jayalalithaa was released on January 27 after serving four years in a Bengaluru jail in a corruption case.

Sasikala, 64, will, however, remain in Victoria Hospital, where she is undergoing treatment for COVID-19 infection. The procedures for her release from jail were completed at the hospital.

She has been lodged in the Central Jail in Parappana Agrahara for four years since February 2017 in connection with the Rs 66 crore disproportionate assets case.

A huge crowd of Sasikala supporters lined up outside the Victoria Hospital, raising slogans in her favour and distributed sweets in celebration.

The release comes months ahead of Tamil Nadu assembly elections and on a day when chief minister K Palaniswami inaugurated a Rs 79 crore memorial along Chennai’s Marina beach in the name of Jayalalithaa.

Sasikala will be out of the hospital later this week, but what remains to be seen is what is next for her in the poll-bound state. A lot has changed in AIADMK while she was serving the jail term. Rebel leader O Paneerselvam, who she had ousted from the CM post before going to the jail, is back in the party. The CM she handpicked, K Palaniswami has joined hands with the Paneerselvam.

Many say though she commanded respect for three decades she will not return to politics. CM Palaniswami said recently that she won’t be back in the party. Others said AIADMK will ally with AMMK, the party founded by Sasikala’s nephew TTV Dhinakaran.

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Uttar Pradesh govt to prepare health cards in rural areas

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yogi adityanath

Taking forward its commitment to provide better health services and prevent spread of the corona infection in the rural areas, the Yogi Adityanath government will now prepare a health report card of the people living around the wellness centres.

These health wellness centres are run by the Ayush Department in the rural areas and also offer traditional medicinal facilities.

According to the government spokesman, the health cards will be prepared with the help of the Angandwadi workers and the Auxiliary Nurse Midwives (ANM) by going from door to door and collecting data about health status of the residents.

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Offline teaching for Classes 9, 11 in Gujarat from Feb 1

In Gujarat, daily increase in coronavirus cases has come down to under 400 from earlier 1,500-1,600.

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Delhi School Teacher

Gandhinagar Jan 27 : The Gujarat government on Wednesday decided to resume offline studies for Classes 9 and 11 in its schools from February 1.

Earlier, offline studies for Classes 10 and 12 was permitted from January 11.

Offline tuition for all these classes have also been allowed, in addition to the online mode.

Education Minister Bhupendrasinh Chudasama told the media: “The Education Department had prepared a Standard Operating Protocol on January 8 to resume offline studies for Classes 10 and 12. The same SOP will be implemented for Classes 9 and 11 from February 1. Similar to teaching at school, we are also permitting resumption of offline tuition classes across the state, subject to SOP and Covid guidelines.”

The Minister said that attendance of students in schools will not be mandatory, and that schools and colleges will have to get written consents from parents for the same.

Educational institutions’ heads will ensure that all facilities to follow the SOP are in place. The teaching staff and students will undergo checks for body temperatures through thermal guns.

As classroom teaching for senior students is resuming after almost 10 months, there were lots of apprehension among students and their parents. Hence, simultaneous continuation of online teaching too has been retained.

In Gujarat, daily increase in coronavirus cases has come down to under 400 from earlier 1,500-1,600.

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