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Lashkar terrorist neutralised in Jammu and Kashmir’s Sopore

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Kashmir Srinagar Situation

Srinagar, Sep 11 : A top-ranking terrorist of the Lashkar-e-Taiba terror outfit, identified as Asif, has been neutralised in an encounter with security forces in Jammu and Kashmir’s Sopore, police sources said on Wednesday.

Asif was responsible for a recent shootout and injuries to three family members of a fruit trader in Sopore. The injured also included a young girl Asma Jan. He was also responsible for shooting at a migrant labourer Shafi Alam in Sopore.

This comes after Indian Army claimed to have arrested eight terrorist associates, who were involved in threatening and intimidation of locals by publishing and circulating of posters on the behest of LeT affiliates.

Those arrested have been identified as Aijaz Mir, Omar Mir, Tawseef Najar, Imitiyaz Najar, Omar Akbar, Faizan Latief, Danish Habib, and Showkat Ahmad Mir.

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Range-bound: Rupee caught between higher inflows, swelling reserves

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rupee dollar

Mumbai, July 11 : The Indian rupee has been caught in a flux of higher FDI inflows and swelling foreign exchange reserves, thereby restricting its future movement around the Rs 75 per US dollar mark.

Analysts opined that the rupee is caught between higher foreign inflows and the Reserve Bank of India”s efforts to shore up reserves.

Even a lower import bill and stable exports do not seem enough for the rupee to break free from its current range.

“With the RBI continually increasing its forex reserves and investment in dollar via forward contracts, a floor seems to be place below Rs 75 levels on spot,” Anindya Banerjee, DVP, Currency and Rates, Kotak Securities, told IANS.

“The upside is also capped due to improving sentiments in the equity and bond markets. All in all, we are looking at a range of Rs 74.80 to Rs 75.80 over the next few weeks, with volatility remaining at a low.”

According to Sajal Gupta, Head, Forex and Rates, Edelweiss Securities: “The rupee appreciated swiftly to Rs 74.52 per dollar due to large FDI flows and rising equity markets and then weakened to Rs 75.20 on the back of the RBI”s efforts to mop up dollars to shore up reserves which stand at a record high of $513 billion dollars.”

“India is expected to see a Balance of Payment surplus of $60 billion this year due to lower crude price and falling imports. It is a big surprise that amid such strong FDI inflows, the rupee is still not strengthening as the RBI is mopping up all dollars to the reserves.”

Besides, he pointed out that imports have slowed down at a faster pace as domestic economy looks weaker compared with global markets.

Presently, India”s foreign exchange reserves increased by $6.416 billion during the week ended July 3.

The reserves grew to $513.254 billion from $506.838 billion reported for the week ended June 26.

Last month, official data showed India posted a marginal current account surplus in Q4FY20 on the back of a lower trade deficit, along with higher remittances, and an increase in investment flows.

The current account is the net difference between inflows and outflows of foreign currencies.

On the quarterly basis, the current account balance recorded a marginal surplus of $0.6 billion (0.1 per cent of GDP) in Q4 of 2019-20 as against a deficit of $4.6 billion (0.7 per cent of GDP) in Q4 of 2018-19 and $2.6 billion (0.4 per cent of GDP) in the preceding quarter of Q3 of FY20.

At present, India”s exports are steadily moving towards normalcy.

“Going ahead, we expect the caution surrounding the impact and duration of the novel coronavirus may keep all riskier assets on an edge, including the rupee. We see USD/INR trading between Rs 74.75-Rs 75.75,” said Rahul Gupta, Head of Research — Currency, Emkay Global Financial Services.

“Only heavy inflows may cap the upside in USD/INR spot. We recommend exporters to wait for better hedging levels as we expect the spot to appreciate; however, they can start hedging their receivables once USD/INR spot falls below Rs 75.”

(Rohit Vaid can be contacted at [email protected])

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India assures support for Rohingyas’ repatriation: Bangladesh

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AK Abdul Momen

Dhaka, July 11 : India supports Bangladesh”s stand on repatriation of Myanmar”s forcibly displaced Rohingyas as it seeks a sustainable and lasting solution to the crisis, Bangladesh Foreign Minister, Dr A.K. Abdul Momen said.

In an exclusive interview to IANS, Abdul Momen said that his Indian counterpart, Dr S. Jaishankar, had sent a letter on July 8, saying that India, as a neighbour of both Bangladesh and Myanmar, felt that the welfare of all lies in the speedy, safe, and sustainable repatriation of Rohingyas in Bangladesh to Myanmar.

India again assured that they will strongly support Bangladesh on the Rohingya issue, he said.

“Jaishankar also mentioned that the two countries will continue to work together always for development. So, we are very happy,” said a smiling Momen.

The Indian Minister also reiterated his commitment to stand by the government and the people of Bangladesh in dealing with the corona epidemic, he added.

Following are excerpts of the interview:

Q: You have long sought the cooperation of neighbouring countries and the United Nations in repatriating the Rohingyas. The Indian Foreign Minister has written to you assuring of his cooperation in repatriating the Rohingyas, you said. Has the letter from a neighbouring country made you optimistic about the repatriation of Rohingyas? What did he explain?

A: Dr Jaishankar mentioned that they are on our side on the issue of the repatriation of the Rohingyas. India congratulated Bangladesh for taking the humanitarian initiative by sheltering the Rohingyas. He wrote that they want a sustainable long-term solution to the Rohingya issue. They also said that they are always with Bangladesh on repatriation of the Rohingyas back to Myanmar, or Europe or America – any other country of the developed world, as I appealed before. The Indian FM has reaffirmed his new commitment to work with Bangladesh on the issue.

Q: So, do you have any plans after India”s new strong approach on the Rohingya issue?

A: We have just received the letter. This is a serious issue… New commitment. We will talk together about this. After all, the Indian matter is very important to us.

Q: Less than 3 years since a crackdown against Rohingya Muslim community in Rakhine state – a campaign of violence that has since led to a genocide case in the UN”s highest court, the Myanmar military is again accused of war crimes against Rakhine”s Buddhists. Do you feel a threat that the Rakhines will enter Bangladesh like the Rohingya refugees?

A: Yes. The letter comes from India, at a time when not only the Rohingyas but also the Rakhine Buddhists are being deported from Myanmar. Now the Myanmar army is once again accused of committing war crimes against their people. The tactics are familiar, but the primary targets this time are Rakhine Buddhists, as well as Rohingya, Mro, Daignet, and Chin communities. Despite sharing faith with Myanmar”s rulers, Rakhine Buddhists have long complained of persecution, and say the development of their state has been stifled by the central government. Repression has now, they say, escalated into violent atrocities.

Before 2016, Rakhines were forced to leave their lands. After 2016, Rohingyas were forced to leave their homes. Now the Rakhines are being forced to leave their homes again. As seen in the media, the military of Myanmar has told the Rakhines: ”Either you get lost from Myanmar, or you”ll be counted a part of the rebel group Arakan Army -so just leave, here a combat operation is going on!” So it is difficult to survive for the Rakhines. This is a big challenge for the Rakhines now.

Q: For more than a year, a long-simmering conflict has escalated between the military and the Arakan Army, a rebel group drawn from Rakhine state”s Buddhist majority, that says it is fighting for greater autonomy. So, Rakhines are leaving Myanmar, are they a threat for Bangladesh, as well as before?

A: Bangladesh is afraid of whether they will cross the border and come to Bangladesh as new refugees. Let”s see if the Rakhines come via the sea. Because the Rohingyas have come to Bangladesh, crossing the sea for decades. But we are not able to bear any more refugees in our small country!

Q: Do you expect India to respond to your call, as you appeal to the United Nations? Or, will India pressure the UN to force Myanmar to repatriate the Rohingyas?

Answer: Our position is very clear. This is not our problem. It is up to the world to take responsibility for the Rohingyas. The good news of this week is that the British government has imposed sanctions on two Myanmar generals for human rights abuses against the Rohingya people and other ethnic minorities.

Q: Is this step of the British government enough to pressure the military leaders of Myanmar? And also do you think other countries should also pressure Myanmar as well?

A: No, this step is by no means enough. Myanmar”s trade with the British has multiplied in the last three years compared to 2017. After ethnic cleansing and in the last three years without any pressure on Myanmar, the British government has increased trade with them 11 to 15 times. Myanmar”s exports have increased much.

The development assistance of the British government has increased too. I think, if the British government stops its assistance in Myanmar, the Myanmar army will stop ethnic cleansing. This war of the Myanmar military should be ended.

Q: Have you talked to the British government on this issue?

A. Whenever we talk to the British government, we raise these issues. I have repeatedly appealed in this regard. I used to say it everywhere. I also told the UN even. Multiple countries have given us support. We have many countries with us, including Canada and the Netherlands. They also demanded an end to the war in Myanmar. They have to be humane.

Q: Do you feel hope, Myanmar will implement its commitment to take back the Rohingyas?

A: We are always optimistic. We want to have friendly relations with our neighbors. Hopefully, a solution will come through Myanmar and negotiations. They have repeatedly promised to take their people back, in safety, security, and dignity. They have agreed to build an acceptable environment. But such an environment has not been created yet.

Out of 2.5 lakh Rohingyas who left Myanmar before 1992, Myanmar has taken back 2.3 lakh Rohingyas after 1992. So we do believe Myanmar will keep their words to take their people back soon.

Q: When do you think this repatriation could happen?

A: As soon as possible, better for Bangladesh. Because, if the Rohingyas stay in Bangladesh for a long time, there will be lots of difficulties. Radicalism can develop, there could be more human trafficking.

Different types of crime will increase. The sooner the Rohingyas are repatriated, it is safe for Myanmar, for the whole region… not only for Bangladesh.

Q: In that case, will India put pressure on Myanmar? Or will the Rohingyas be rehabilitated to India?

Answer: India will put pressure on Myanmar. They have come forward to support Bangladesh, to strengthen Bangladesh”s demand, to stand beside Bangladesh. They want a sustainable solution to the Rohingya issue. As India has said, it will continue its efforts to implement the solution for the sake of peace of the region.

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Rahul takes on Modi over Chinese firms” donations to PM Fund

The Congress has also been critical of the BJP over the handling of border faceoff with China in Ladakh.

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Rahul Gandhi

New Delhi, July 11 : Former Congress chief Rahul Gandhi again trained his guns at the Prime Minister over the PM-CARES Fund saying why Narendra Modi was not sharing details when everyone knew which Chinese companies donated to it.

“Why is the PM so scared of disclosing the names of those who donated money to him for PMCares? Everyone knows Chinese companies Huawei, Xiaomi, TikTok and OnePlus gave money. Why doesn”t he share the details?” he tweeted.

His remarks came after the Public Accounts Committee, one of the most important parliamentary panels that scrutinises key reports by the auditor general and has taken up issues, like the 2G spectrum scam, in the past, failed to arrive at a consensus on Friday on examining the government”s response to the Covid-19 pandemic or the PM-CARES Fund, set up to tackle the crisis.

The ruling Bharatiya Janata Party (BJP), which enjoys a majority in the panel led by senior leader Bhupender Yadav, blocked Congress MP Adhir Ranjan Chowdhury’s attempt to name the PM-CARES Fund for examination, saying its funding was not sanctioned by Parliament and therefore it couldn”t be taken up by the committee.

The Congress has also been critical of the BJP over the handling of border faceoff with China in Ladakh.

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