FM’s nudge

Call this a diktat or a nudge. Finance Minister Nirmala Sitharaman has clearly prodded banks to go in for more stressed asset sales to NARCL, often referred as India’s bad bank.

The chatter in banking and official circles, after her review meeting with bank chiefs on Saturday, is that the Finance Minister may not be all that pleased about the performance of NARCL and that she has now hinted to banks to support the bad bank — otherwise it will be a failure!

Given that NARCL is not doing a good job (due to various reasons), the government has seemingly read the riot act at the review meeting, said a banking industry insider. Now you can expect brisk business for NARCL in next few quarters as banks will have to be more forthcoming and shed their reluctance to part with stressed assets to NARCL even if they see them as sub-optimally valued transactions. One good thing is that the “price expectation gap” of banks will now get solved quickly since the directions have come from the highest level in the government, quipped a banking industry observer.

Guessing the guest list

As the date for inauguration of the Ram Temple in Ayodhya approaches, whispers abound over the guest list, turning the consecration ceremony into a veritable who’s who of Indian politics and religious leadership.

At the heart of this ceremonial spectacle lies the sanctum sanctorum, where Prime Minister Narendra Modi, UP’s Chief Minister Yogi Adityanath, Governor Anandiben Patel, and RSS Chief Mohan Bhagwat, alongside a priest, are set to be present in the garbhagriha. The presence of constitutional heavyweights in a religious ceremony in a secular nation has sparked debate.

Inclusion of Bhagwat, a non-constitutional luminary, further adds a twist to the tale.

So, as the day draws near, the Ram Temple inauguration is not just a religious event but also a reflection of the multifaceted nature of Indian society where religion, politics, and public opinion converge, say observers.

Virtual headache

For all the three major political parties — Telugu Desam, YSR Congress Party, and Jana Sena — in Andhra Pradesh, the upcoming elections to the State Assembly are very crucial. Leaving no scope for a split in anti-government votes, TDP and Jana Sena have announced a pre-poll merger.

The biggest challenge for the two parties, however, is the virtual world where activists of both parties often engage in bitter spats. This has become a big headache for the high commands of both parties. Worried over the likely adverse impact on the alliance, the TDP posted a longish appeal on social media, appealing to its activists not to lose their cool and ignore all provocation from the other side. The problem is far from over as the appeal itself became a trigger for a fresh round of tussle.

Unceremonious exit

Vivek Srivastava’s tenure as Special Director Intelligence Bureau (IB) was abruptly curtailed by Appointments Committee of Cabinet (ACC) two days ago. He was appointed as Director General, Fire Services, Civil Defence & Home Guards till he retires on June 30, 2025.

Government sources said Srivastava was sidelined because he would even disobey the Director IB and that came across at times in his file notings on transfers of colleagues. This obviously did not go down well with the powers that be, so he was shunted out.

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