1. Junking talks over separatist meet: Modi govt stops long-standing practice
The Modi government took yet another sudden foreign policy decision on Monday, with its decision to walk out of talks with Pakistan next week. Given that meetings between Pakistani leaders and the Kashmiri separatists are almost par for the course, the question the government has to answer is, why now?
Mirwaiz Umer Farooq, surprised at the government decision, said, "Such meetings had taken place during the tenure of Atal Bihari Vajpayee and Manmohan Singh as prime ministers. So what is the hue and cry about this time?"
First, this is the "tough" Modi avatar, that something which was winked at by previous governments would find no sympathy in the Modi dispensation. In past years, when Indian governments have remained silent over these meetings, they have invited a flurry of criticism, calling for just such a cancellation of talks. But previous governments preferred to overlook these meetings. Modi has signaled he will not.
2. TCS, Bharti pledge ₹100 cr each for Modi’s ‘Clean India’ initiative
India Inc has swiftly answered Prime Minister Narendra Modi’s clarion call for improving sanitation facilities in the country, especially for girl students.
Tata Consultancy Services and Bharti Enterprises have announced plans to invest ₹100 crore each for building more toilets.
TCS intends to erect sanitation facilities for girl students across 10,000 schools. N Chandrasekaran, Chief Executive Officer and Managing Director, said the move will “have a tangible impact on the level of education achievement and development of India’s next generation.” The country’s largest software exporter is in the process of identifying schools for this programme. The development arm of Bharti Enterprises has adopted Punjab’s Ludhiana district — home to the group’s founder —for constructing toilets over the next three years. “It is our commitment that no single household or school in rural Ludhiana will be without a toilet by the end of this tenure,” said Sunil Bharti Mittal, Chairman of Bharti Foundation.
Under its ‘Satya Bharti Abhiyan’ initiative, the group will also aim to improve sanitation facilities for girls in rural Ludhiana’s government schools. Group companies — Bharti Airtel and Bharti Infratel — would support these initiatives, according to a press statement.
Coca-Cola India runs the ‘Support my School’ campaign to build toilets for school kids. PepsiCo India runs a solid waste management initiative in partnership with the NGO Exnora and local municipalities. While thousands of schools in India have toilets, they either do not have running water or lack proper maintenance. According to the Annual Status of Education Report 2013, published by education non-profit Pratham, the percentage of usable toilets for girls stood at 53.3 per cent in 2013. The lack of separate and functional toilets for girls increases their chances of dropping out.
According to the 2011 census, about 600 million or half of India’s citizens do not have access to a toilet either at home or in their communities.
Modi had devoted a substantial portion of his Independence Day speech to the need for a greater sense of cleanliness. He exhorted companies and Parliamentarians to take the lead in this direction.
3. RBI Governor to hold talks with unions on HR rejig
Reserve Bank of India Governor Raghuram Rajan will
meet representatives
of employees’ unions on Tuesday to explain to them and get their views
on the proposed restructuring of the central bank’s employees, including
appointing a Chief Operating Officer (COO) and bringing various
departments under clusters.RBI officials said the initial proposal had been prepared on the basis of year-long internal exercise conducted through Intranet and by a committee. “It is not something which the Governor himself has proposed,” said an official, adding that no decision had been taken that the COO would be in the rank of a Deputy Governor. Nor had any timeline been fixed for implementing the proposal.
4. Rerun of last year’s standoff? Chinese troops ‘intrude’ 25 km into Ladakh
Chinese troops reportedly entered almost 25 km into Indian territory in Ladakh on Sunday, in an area close to where the two sides had a tense three-week standoff last year.
According to reports, the Chinese troops came deep into Burtse area in Ladakh. A patrol of Indian troops noticed the People's Liberation Army (PLA) personnel while moving from their base in Burtse area of north Ladakh, at an altitude of around 17,000 feet.
Reports said about 1.5 km into their patrol, the Indian soldiers spotted Chinese personnel. They were 25-30 km from the perceived Line of Actual Control (LAC).
5. FTIL gets MCX nod for 15% stake sale to Kotak Mahindra Bank
The Multi Commodity Exchange of India Ltd’s board of directors has approved sale of 15 per cent stake held by Financial Technologies India Ltd in the company to Kotak Mahindra Bank Ltd, a source said.
“It’s clear from policy that the commission (Forward Markets Commission) favours higher stake by financial institutions regulated by a financial sector regulator. From that perspective, certain institution taking 15 per cent stake is very much within the policy,” FMC Chairman Ramesh Abhishek told Cogencis today. On July 20, Financial Technologies had announced that it had entered into an agreement to sell part of its stake in MCX to Kotak Mahindra Bank for Rs. 495 crore, subject to regulatory approvals before closing the deal. The deal is set to make Kotak Mahindra Bank the single largest shareholder in MCX, replacing the current promoter Financial Technologies, which is in the process of diluting its stake in MCX to comply with an FMC’s order.
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