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Manish Tewari slams Manmohan Singh led UPA govt in his book, says they didn’t act against Pakistan to respond 26/11 Mumbai terror attack

Senior Congress leader Manish Tewari in his book ‘10 Flashpoints; 20 Years’ has accused Congress-led UPA government dithered in responding to Pakistan sponsored November 26, 2008, Mumbai terror attacks. The book is scheduled to be released on December 1.

Manish Tewari is Congress MP from Anandpur Sahib as well as the national spokesperson of the party.

In his book he has said that the UPA government headed by Manmohan Singh did not act strongly against Pakistan after the Mumbai terror attack. He said that such a restraint against Islamabad was perceived as a symbol of weakness.

“For a state that has no compunctions in brutally slaughtering hundreds of innocent people, restraint is not a sign of strength; it is perceived as a symbol of weakness,” he has written.

He has questioned the silence of the UPA in acting against Islamabad and said UPA wasted the opportunity to give a befitting to Pakistan. “There comes a time when actions must speak louder than words. 26/11 was one such time when it just should have been done. It, therefore, is my considered opinion that India should have actioned a kinetic response in the days following India’s 9/11,” he observed in the book.

The Congress officially so far has not issued any statement regarding this blunt admission about Manmohan Singh led UPA government lacking spine to act against Pakistan.

The Congress so far has not issued any statement regarding the blunt admission that Manmohan Singh led UPA government lacked spine to act against Pakistan. However, the likes of Adhir Ranjan Chowdhury who is the leader of the party in the parliament said that his book will sell like hotcakes and the salesman will be the BJP.

But this is just an attempt to avoid answering since even after more than a decade the Congress has not responded what prevented the then Prime Minister and UPA chairperson Sonia Gandhi from ordering the army to nail Pakistan conclusively.

BJP targets Congress

On the disclosure of Manish Tewari, the BJP targeted the Congress for compromising with national security. It alleged that the UPA government had put national security at stake by not responding strongly after the terror attacks.   

In-charge of BJP’s National Information and Technology Department Amit Malviya said after Salman Khurshid, another Congress leader has thrown UPA under the bus to sell his book.

But this is not for the first time when Manish Tewari has put the Congress in the dock for not acting against Pakistan. In 2019, on the anniversary of 26/11 he had tweeted: “What would happened to Pakistan if 26/11 would have unfortunately happened in the US & the smoking gun would have nailed Pakistan conclusively as it did in the case of the Mumbai outrage? – I often wonder………”

Manish Tewari’s book refreshed a many a dirty secrets and tricks of the Congress

While the world was slamming Pakistan for perpetrating the 26/11 attacks through its non-state actors, leaders of the Congress party like Digvijay Singh were floating conspiracy theories to fix RSS in the terror attacks. They were spreading ‘saffron terrorism’ for the Mumbai terror attacks.

Aziz Burney, known for his anti-Hindu rants, was one of the key figures who actively pushed Congress party’s conspiracies against the RSS. Burney, who was the Group Editor of Sahara Publications like Roznama Rashtriya Sahara, Bazm-e-Sahara, Aalami Sahara, had published a book titled, “26/11 RSS Ki Saazish?” (26/11, An RSS Conspiracy?) to pin the blame on RSS for the Mumbai Terror attacks that were carried by Pakistan-based Islamic terror group Lashkar-e-Taiba.

On 26th November 2008, Pakistani terrorists crossed the border and unleashed attacks in Mumbai. The attacks occurred at Chhatrapati Shivaji Terminus, Mumbai Chabad House, The Oberoi Trident, The Taj Palace & Tower, Leopold Cafe, Cama Hospital, The Nariman House, the Metro Cinema, and in a lane behind the Times of India building and St. Xavier’s College. There was also an explosion at Mazagaon, in Mumbai’s port area, and in a taxi at Vile Parle. At least 174 people were killed (the numbers are suspected to be far more) and 300 people were injured.

‘Over 60 tractors and 1,000 protesters to march to the Parliament on Nov 29’: Rakesh Tikait threatens Centre yet again

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Bhartiya Kisan Union leader Rakesh Tikait on Wednesday threatened the Centre with yet another tractor rally, alleging that if farmers’ demands are not met, then 30 tractors will march towards the Parliament on November 29, the day when the winter session of the Parliament is to commence.

“On November 29, 30 tractors and 500 people will march to the parliament to press the Centre for a statutory guarantee on the minimum support price(MSP) on crops. Besides, we will also demand the centre to pass the Seed bill, Pesticide bill, withdrawal of cases against protesters lodged across the country and compensation to the families of protesters who died during the year-long agitation,” Tikait said while adding that they will march to the Parliament in order to convey their demands to the Centre.

However, while talking to ANI, Rakesh said more than 60 tractors and 1,000 people will be heading towards the Parliament on November 29. “The tractors will go through the roads, which have been opened by the government. We were accused of keeping the roads blocked. We did not block the road. Blocking the roads is not our movement. Perhaps, our movement is to talk to the government. We will straight go to the Parliament,” Tikait told news agency ANI.

Rakesh Tikait had threatened to continue protests after PM Modi announced withdrawal of farm laws

Earlier last week, Rakesh Tikait had said that the farmers will continue their protests against farm laws regardless of PM Modi’s announcement that the Centre would repeal the agricultural bills in the forthcoming parliamentary session. 

PM Modi, addressing the nation on November 19, said that by the end of this month, the Centre would complete the process of repealing the three farm laws. He then appealed to the protesting farmers and middlemen to return to their homes on this Gurupurab and stop their protest. He further said that the government will form a committee to formulate laws for the benefit of the farmers. 

He further said that the government had introduced the laws after due deliberation but perhaps it was the shortcoming of the government that they could not convince all farmers that the laws were indeed in their benefit. Further, he said that the past governments had deliberated on these laws as well but it was the Modi government that had implemented them. 

He said that all his decisions were in the interest of the nation and he will continue to work for the benefit of the nation.

However, Tikait continued his intimidatory tactics against the government, insisting that the protest would continue unless the farm laws are repealed in the Parliament. “The farmers’ protest will not stop immediately, we will wait till the day when agricultural laws are repealed in Parliament. Besides MSP, the Centre should also discuss other issues with the farmers,” Tikait tweeted.

Over the week, as Tikait and his supporters felt emboldened by PM Modi’s decision to withdraw the farm laws, their list of demands, which was earlier limited to the invalidation of the farm bills, has steadily swelled. A day after PM Modi announced that the farm laws will be repealed, BKU leader Rakesh Tikait shared an ever-growing list of demands, stating that they would not back down unless the government fulfils all of them.

“The protest is not over yet and the government is yet to clarify its stand on MSP. We have been demanding a law guaranteeing it and also a committee for farmers,” Tikait said. “There are other issues as well as over 700 protesters (a number given by the Samyukt Kisan Morcha) lost their lives in one year of protest at Delhi’s borders and the government will have to do something for their families,” he added.

Assam: Christian miscreants uproot Shivling and Trishul, cut down century-old sacred Banyan tree worshipped by Hindus

On November 22, members of Hindu organisations like the Hindu Rakshi Dal and Hindu Chhatra Sangh in Assam submitted a memorandum to the Deputy Commissioner, district Cachar, Assam. In the memorandum, they have asked him to take action against some local Christian miscreants for vandalising a Hindu place of worship in Mahadevtilla in the Katigorah Tehsil of Cachar, Assam. The place where the incident took place has a large settlement of people belonging to the Khasi community, 85 per cent of whom have embraced Christianity.

The group, in its letter, accused some Khasi Christians to be behind the attack. They said that the miscreants desecrated a Shivling and a Trishul that had been installed beneath a Banyan tree in the area more than a century ago. The Hindus in the area considered the Banyan tree extremely sacred and worshipped the Shivling placed beneath it every day.

Letter written to Deputy Commissioner of the Cachar district by the Hindu outfit
Letter written to Deputy Commissioner of the Cachar district by the Hindu outfit

The letter said that the local Khasi Christians cut down the Banyan tree, uprooted and desecrated the Shivling and the Trishul placed there. They also threw away the other religious things placed beneath the Banyan tree. The Christian miscreants threatened the Hindus with dire consequences if they returned to worship.

The Hindu organisation asked the Deputy Commissioner of the Cachar district in Assam to ensure that the place is vacated from the clutches of the miscreants. They also demanded that the Shivling and Trishul be restored in the same place. They suggested that the area be barricaded with iron rods to prevent future accidents. They also asked the authorities to adopt adequate security measures to safeguard the Hindus in the area. The Hindu outfit warned the authorities that if appropriate action is not taken within a month, they would be forced to take up the matter in their hands to restore the sanctity of the place.

The Hindus of Manipur protested and filed a complaint with the Forest Department and the Cachar Police. The police advised them to wait a few days, but residents claim that the cops aren’t doing much in the matter.

Meanwhile, a report by the local newspaper Barak Bulletin suggests that while a section of locals opined that the Banyan tree was axed inadvertently, most believe that the act was intentionally carried out to intimidate the Manipuri and Bengali Hindus living in the locality.

Locals claim that the Christian conversion groups have recently become a major threat for them. Local Hindus believe that these Christian evangelists are aiming to violently expand the Christian presence in the area by either converting or eliminating Hindus.

“People from the Khasia Punji (Khasi Settlement) intentionally cut the tree to threaten us against any sort of Hindu practices. They have been doing such activities for a long time. This is the extreme step that they have taken,” a local resident said on the condition of anonymity. The local who belonged to the Manipuri community said that a complaint about “Khasiya aggression” has been submitted to the local forest office.

OpIndia’s conversation with Hindu community and Police regarding the incident in Assam

OpIndia reached out to Aninda Dev, Hindu Chatra Sangh, to learn more about the case. Dev said, “The local Khasi Christians not only uprooted and desecrated the Shivling and Trishool but also threatened and misbehaved with the local Hindus.” He further blamed Police for inaction and said, “The local police is not taking any action against the miscreants. Instead, they threatened the local Hindus to stay away from the Christians.” He added that Hindu Raksha Dal and student union Hindu Chatra Sangh have submitted a memorandum to Deputy Commissioner Keerthi Jalli and requested her to take appropriate action against the Christians involved in the incident.

We also reached out to Subhasish Choudhury, Hindu Raksha Dal, who narrated the whole incident. He said, “The Khasi Christian community and the Manipuri Hindus had a pact that they would not interfere in each other’s religious matters and would stay away from the sacred Banyan tree. However, the Christian miscreants broke the pact and uprooted the tree along with Shivlinga and Trishool that was installed under the Banyan tree for over a century.” He said despite filing the complaint at the forest department and local police station, they did not take any action.

“On November 17, when some Manipuri Hindus went to perform Pooja, they were stopped and threatened not to come back by the Christians. They informed the Police about the incident. The DSP came and went to meet the Khasi Christian leader with the Manipur Hindu community leader. The Christian leader tried to mislead the Police by saying Hindus worshipped another tree to which the Hindus objected and told that they had been worshipping the tree for over 100 years,” he said. Subhasish said DSP had promised the Hindus that they would take action, but so far, even after seven days, no action has been taken.

We tried reaching out to the Deputy Commissioner but could not connect. Meanwhile, Cachar SP Ramandeep Kaur said, “The information you have received is incorrect. There was a banyan tree that locals worshipped. A case under Forest Act has been filed and local SI is investigating the case. Investigating in the matter is underway to find if it is an act of mischief or tree was cut inadvertently.”

‘Only matter of time before you are beheaded’: Kashmiri Pandit journalist receives death threat from ISIS Kashmir

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Journalist Aditya Raj Kaul has received death threats from a group that calls itself ‘ISIS Kashmir’. Kaul has informed that he has alerted the Uttar Pradesh Police and the Special Cell of the Delhi Police of the matter and hopes that the terrorists will be traced soon.

In the three screenshots attached by Aditya Raj Kaul, it can be clearly seen that he is being threated with death. In one screenshot, ISIS Kashmir tells him that he is their next target.

Aditya Raj Kaul receives death threat from ISIS Kashmir
Source: @AdityaRajKaul/Twitter

In the second screenshot, the terrorist says, “We are going to kill you soon.”

Aditya Raj Kaul receives death threat from ISIS Kashmir
Source: @AdityaRajKaul/Twitter

ISIS Kashmir also claimed to have all his details, where he lived and where he was currently, and claimed that it was only a matter of time before they beheaded him.

Aditya Raj Kaul receives death threat from ISIS Kashmir
Source: @AdityaRajKaul/Twitter

BJP MP Gautam Gambhir has also received threats from ISIS Kashmir. The threat to him said, “We’re going to kill you and you’re family.” Subsequently, security has been increased outside his residence.

Recently, ISIS mouthpiece Voice of Hind threatened to break Idols of Gods in India. The cover of its newly released edition showed a computer-generated broken idol of Bhagwan Shiv. Under the idol, the cover says, “It’s time to break false Gods”.

Aditya Raj Kaul has been vocal against separatism and terrorism in Kashmir, which perhaps earned him the hatred of Islamic extremists. There have also been a series of targeted killings of civilians in Kashmir recently which makes the threats even more concerning.

‘We will kill you and your family’: Gautam Gambhir receives threat from ISIS Kashmir, approaches police

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Cricketer turned politician Gautam Gambhir has approached Delhi Police alleging that he has received death threats from ‘ISIS Kashmir’. The BJP MP from East Delhi Constituency said he received death threat from the terror outfit on his official email id.

The email from ISIS Kashmir says,” We’re going to kill you and you’re family” with no subject or sender’s name.

A letter written by the staff of the former Indian southpaw to the Delhi Police said, “This is further to our telecon, we have received an email from ISIS Kashmir on the official mail of honourable MP Sir evening at 9:32 pm. This mail states death threat to him and his family…..I therefore request to make adequate security arrangement and lodge an FIR.”

Speaking to ANI, DCP Central, Shweta Chauhan, said, “Gautam Gambhir has submitted a written complaint about the death threat. He has received the threat on his official email id. The security has been increased outside his residence.”

The police have also forwarded the complaint to the Cyber Cell of the Special Cell to know the origins of the mail. An initial probe has also been launched by the Delhi Police.

Gautam Gambhir, a fierce critic of terrorism emanating from Pakistan

Never shy of raising his opinions in public, Gambhir has often stood in solidarity with the Indian Armed Forces in Kashmir and criticised terrorists and Pakistani establishment for fomenting trouble in the India’s northern states.

Gambhir had recently expressed his stern objection to Punjab Congress chief Navjot Singh Sidhu’s reference to Pakistan PM Imran Khan as “bada bhai”, meaning big brother.

“Send ur son or daughter to the border & then call a terrorist state head ur big brother! #Disgusting #Spineless,” Gambhir had tweeted while making a sharp attack.

ISIS terrorists nabbed in Jammu and Kashmir

ISIS is a terrorist organisation that follows a Salafi Islamist doctrine and aims to bring the entire works under the fold of Islam.

Earlier in July this year, the Indian security agencies had found the first ever direct connection of the Islamic terrorist group ISIS in Jammu and Kashmir with the arrest of one of its founding members Qasim Khorasani and two of his associates.

ISIS also claims to be active in the Indian subcontinent through ISIS-K or Islamic State Khorasan Province (ISKP) – an offshoot of the Islamic State terror group that operates in Afghanistan, Pakistan and India. Khorasan refers to a historical region comprising of Afghanistan, Iran, Pakistan and Turkmenistan, the territories once controlled by a caliphate. 

Odisha: Gajapati Maharaj of Puri performs Shilanyas of Heritage Corridor Project around Jagannath Temple in presence of CM Naveen Patnaik

Odisha CM Naveen Patnaik is in Puri today to attend the inauguration and Shilanyas ceremony of the grand Heritage Corridor Project around the Sri Jagannath Temple. The project is planned to allow devotees to experience a ‘Parikrama’ of the massive Sri Jagannath Temple premises, around the Meghanad wall that surrounds the ancient 12th-century temple.

Stunning visuals of the Shilanyas ceremony were shared on social media by the official handle of the Sri Jagannath Temple Administration.

Gajapati Maharaj Sri Divyasingh Deva of Puri performed the Shilanyas ritual in the presence of priests, Sevayats and administrators of the Temple. Krishan Kumar, the chief administrator of the SJTA and Puri collector Samarth Verma were also present during the grand event.

The Surya Puja and other rituals that accompany Shilanyas and Bhumi Puja were performed in the hands of Gajapati Maharaj, as per Vedic rituals during the event.

Surya Puja during Shilanyas ceremony, image via SJTA, Puri
Visuals from the Shilanyas ceremony at Sri Jagannath Temple, Puri
CM Naveen Patnaik inspecting a model of the Srimandira Parikrama Project, image via SJTA, Puri

It is notable here that the Gajapati kings of Puri were the erstwhile rulers of Kalinga who ruled as the ‘servant’ of Lord Jagannath. He is considered the ‘First Devotee’ of Lord Jagannath.

Heritage Corridor Project

The Naveen Patnaik government’s push to remove encroachments around the Jagannath Temple was met with massive criticism and opposition from various quarters, including some religious bodies. Some old Mathas, that were situated near the main Temple premises were shifted to other locations after negotiations and compensations. The Odisha government has planned to widen the road in front of the Temple and carry out beautification projects around the Temple to protect the 12th-century structure and also to prepare better facilities for massive footfalls for devotees that the Temple sees on a regular basis.

After the encroachments were removed, the Jagannath Temple now bears a beautiful, stunning look with a lot of space to allow lakhs of devotees to witness the Ratha Yatra.

The Heritage Corridor Project, named ‘Parikrama Prakalpa’ in Odia is a part of the Naveen Patnaik govt’s efforts to transform the Temple town of Puri into a world-class heritage city.

Arvind Kejriwal flirts Imran Khan’s friend Sidhu as Punjab Congress chief’s rift with CM Channi widens

Ahead of the Punjab assembly poll, Delhi chief minister and Aam Aadmi Party (AAP) convener Arvind Kejriwal, has heaped praises on Punjab Congress president Navjot Singh Sidhu.

At a press conference in Amritsar on November 23, Kejriwal said that he appreciated the courage of Sidhu for speaking the truth. “As yesterday Punjab chief minister chief Charanjit Singh Channi claimed that he ended the sand mafia in Punjab and the price of sand is reduced, Sidhu exposed his lies. I salute his courage. He always raises public-centric issues. But his voice is always suppressed in the Congress. Earlier this was Captain Amarinder Singh now Channi is doing the same thing with him,” Kejriwal said.

Kejriwal claimed that 25 MLAs and 2-3 MPs of the Congress are in constant touch with him who want to join the AAP.

Kejriwal who claims to be chief claimant of power in Punjab has not declared any leader as the chief ministerial face in Punjab. Kejriwal seems to be dangling a carrot before Sidhu since he has made his desperation known to become chief minister of Punjab. Kejriwal is also making the best use out of infighting in the Congress to gain ground in the bordering state as Sidhu has made his distastes towards the chief minister of his party in Punjab.

Believing the buzzes in the power corridor of the Congress and Punjab, Sidhu remained in touch with Kejriwal and his joining AAP was also speculated. Sidhu, after quitting BJP, had briefly considered joining the Aam Aadmi Party ahead of 2017 Punjab elections.

Sidhu and his friendly relationship with Pakistani leaders

Even if many in the Congress believe Sidhu is a burden bringing disrepute and embarrassment, for Kejriwal and likes he is an asset. Sidhu professes his friendship with Pakistan Prime Minister Imran Khan and very recently Sidhu declared Imran Khan as his bada bhai (elder brother). This annoyed many in the Congress who criticised Sidhu knowing well that he enjoys the blessings of the Nehru-Gandhi family.

“Imran Khan may be anybody’s elder brother but for India he is that cat’s paw of Pak Deep State ISI-Military combine that drones arms and narcotics into Punjab and sends terrorists on a daily basis across LOC in J&K. Have we forgotten martyrdom of our soldiers in Poonch so soon?,” national Spokesperson of the Congress Manish Tewari had said.

Sidhu an acolyte of the Pakistani deep state and a person of unstable mind: Capt Amarinder Singh

When former Punjab CM Captain Amarinder Singh left the Congress after writing a seven page resignation letter to Congress president Sonia Gandhi, he termed Sidhu as an acolyte of the Pakistani deep state and a person of an unstable mind. But Sonia Gandhi afforded to lose a credible leader like Amarinder Singh. He has also said that Sidhu is a threat to national security.

Kejriwal’s party has a track record of supporting Khalistani elements

In 2018, the Republic TV had aired a sting operation that showed a pro-Khalistan movement leader claiming that his front had funded the AAP during the 2017 Punjab Assembly elections. Gurcharan Singh, a member of once banned Dal Khalsa, said that his front had backed the AAP during the polls because it wanted to upset the political forces.

Actor and one-time Aam Aadmi Party (AAP) candidate and campaigner Gul Panag too disclosed having warned the party against any pandering and association with Khalistan separatists during the Punjab Assembly elections in 2017. She alleged that AAP was clearly seen romanticising Khalistanis for electoral gain.

US President Joe Biden has a Dr Manmohan Singh moment, seems to read instructions off the teleprompter during his speech

The United States President Joe Biden seemed to have had a “Dr Manmohan Singh moment” on Tuesday while reading a speech off a teleprompter about the rising gas prices. Biden recited ‘end of quote’ after referencing a statement made by the CEO of Walmart during his speech.

“And, by the way, you may have heard the CEO of Walmart yesterday on the steps we’ve taken. He said, and I quote, ‘The combination of private enterprise and government working together has been really successful,’” Biden said in the speech.

“He went on to say, “All the way through the supply chain, there’s… a lot of innovation.” Because of the actions we’ve taken, things have begun to change. End of quote.”

Biden then went on to the next sentence. However, the faux pas of mentioning ‘End of quote’ during his speech was not lost on the listeners, who compared him with Roy Burgandy, the fictional newscaster from the movie “Anchorman” after he recited the words “end of quote” after referring to a statement made by the CEO of Walmart.

The faux pas by Biden reminds one of PM Manmohan Singh’s ‘Theek Hai?’ remark

Back in India, Biden’s gaffe called to mind the embarrassing incident when former Prime Minister of India Manmohan Singh interrogatively asked “theek hai?” to DD staffers after they recorded his statement to the nation on the Delhi rape incident in December 2012.

Delhi was convulsed with the horrifying gang rape and torture of a girl in a moving bus on the night of December 16, 2012, prompting widespread protests over the safety of women in the country. As demonstrations and protests turned violent, then Prime Minister Manmohan Singh addressed the nation asking people to maintain peace after bouts of violence during the protests in Delhi against the rape of a student. 

Singh ended his minute-long address to the nation by asking “theek hai?” to the people who were recording his message. The question was meant for the broadcasters but was inadvertently aired on national television, drawing a severe backlash on social media where people slammed the Prime Minister for displaying casual apathy towards the plight of women in the country. 

‘Theek Hai’ instantly became the top trending hashtags on Twitter, with people using the words to take a sarcastic dig at PM Manmohan Singh for his remarks during the address to the nation on the brutal rape of a 23-year-old girl in the national capital. 

Simple arithmetic has offended the wokes in USA. Here is how

The wokes in America are offended and other wokes have apologised for offending the wokes because of a very simple arithmetic.

Here is what happened.

Women’s March is a movement of protests that were triggered after Donald Trump’s swearing in ceremony as US President on 21st January 2017. On November 24, 2021, their official Twitter account tweeted an apology for an email they had sent out to subscribers.

Women’s March apologised for an email sent which mentioned that average donation this week was USD 14.92. They said that it was an oversight to not make the connection to ‘the year of colonization, conquest, and genocide for Indigenous people, especially before Thanksgiving’.

Turns out, the wokes in America got upset that Women’s March got average donation of USD 14.92. Because 1492 is the year when Italian explorer Christopher Columbus discovered America when he was out looking for India. He reached America on 12th October, 1492 for the first time and subsequently established colonies.

That the wokes at Women’s March did not correlate the donation amount received to the year Columbus arrived in America upset other wokes so much that well, they apologised.

To put things into perspective, if Ichhadhari protestor currently in form of ‘farmer’ Yogendra Yadav were to organise a fundraiser and say 125 people contribute Rs 2,480 to it, it would average to a donation money of Rs 19.84 per person. If Yogendra Yadav were woke Women’s March, he would have connected it to the year 1984 when Operation Blue Star was carried out by Indira Gandhi government to snuff out Khalistani terrorist Jarnail Singh Bhindranwale from Golden Temple, Amritsar followed by her assassination and subsequent anti-Sikh riots across India.

Except, Yogendra Yadav, despite protesting for various causes as per flavour of the season, would not even be able to raise Rs 100 on his own. This is fact because he himself has accepted how his fundraisers are as big a joke as his protests.

Back in 2019 ahead of Haryana Assembly elections, Yogendra Yadav had endorsed ‘environmentalist’ Tejpal Yadav as one of his party candidates. While taking to Twitter, he pleaded for monetary support from his like-minded followers. But, he was up for a rude shock when he only ₹50 for his supposed ‘green politics’.

Govt to table bill on cryptocurrency, speculations over ban on ‘private cryptocurrencies’ cause dip in the market

The union govt is reportedly going to table a Bill in the winter session of Parliament aiming to create a facilitative framework for the creation of official digital currency to be issued by the Reserve Bank of India (RBI).

As per the description of the Bill available, the ‘The Cryptocurrency & Regulation of Official Digital Currency Bill, 2021’ would seek a ban on all private cryptocurrencies. However, there would be certain exceptions to promote the underlying technology of cryptocurrency and its uses. The winter session will commence on November 29.

After the information about the Bill was made public, the major digital currencies saw a fall of around 15 per cent and more. However, later it recovered, and currently, three out of the top five cryptocurrencies are showing a rise in the price. Bitcoin is down by a little over 1%, and Solana is down by around 0.70%. On the other hand, Ethereum, Binance Coin and Tether are up by 1.70%, 2.50% and 0.11%, respectively.

Cryptocurrencies saw a dip in the price after reports of The Cryptocurrency & Regulation of Official Digital Currency Bill, 2021 were made public. Source: coinmarketcap.com

In recent times, the Reserve Bank has voiced its concerns about private cryptocurrencies. Since the beginning of 2021, the price of Bitcoin has almost doubled its price of 2020. As per experts, there are around 15-20 million investors in India who have crypto holdings worth Rs. 40,000 crore.

Shaktikanta Das, the governor, RBI, had warned that cryptocurrencies pose a serious threat to financial stability. Notably, Prime Minister Narendra Modi also expressed his concerns about cryptocurrencies during his keynote address at the Sydney Dialogue on November 18. He had urged all countries to ensure cryptocurrencies do not fall into the wrong hands.

Last week, BJP leader Jayant Sinha chaired the Standing Committee on Finance meeting where they discussed the cryptocurrencies with the stakeholders, including representatives from crypto exchanges, blockchain and Crypto Assets Council (BACC), and others. The committee concluded that cryptocurrencies should not be banned but regulated.

Notably, in 2018, the RBI had put a blanket ban on cryptocurrencies in India. However, in March 2021, the Supreme Court set aside the order and allowed banks and entities regulated by RBI from providing services associated with cryptocurrencies.

While the crypto investors in India showed concerns since the announcement of the Bill, it is noteworthy that the definition of private cryptocurrency is yet to be clarified by the Centre. Cryptocurrencies like Bitcoin, Ethereum and others are based on public blockchain networks. While these networks provide anonymity to users, they are traceable. On the other hand, Cryptocurrencies like Monero, Dash and others are based on the private network, thus providing privacy to the investors.

Unlike China, India is not planning to put a blanket ban on Cryptocurrencies, but the idea seems to get it regularised. Nischal Shetty, CEO of WazirX, said in a tweet, “The crypto regulation bill has been listed for the winter session. The description hasn’t changed much. There will be speculation on both sides. The good thing is more people within the government are aware of how crypto works.” WazirX is the largest crypto exchange platform in India. In a follow-up tweet, he asked the investors to not panic.

While talking to CNBC TV18, Jayant Sinha had emphasised that innovation and regulation should be balanced. He added that various exchanges together have around 15 million KYC-approved users with an investment worth $6 billion.

The government is not only concerned about Cryptocurrencies going in the wrong hands but also about the misleading advertisements that have popped up in recent times promising steady returns to the investors. Banks are also informing their customers to beware of such advertisements.

As per Economic Times, Axis Bank managing director Amitabh Chaudhry said, “Our worry is that we can put all sorts of algorithms to trace customers who are putting money in crypto and have conversations with them to be careful, beyond that we can’t do much because it’s depositors’ money. I really worry when you see the ads because they seem to be indicating as if it’s like a deposit. One advertisement I saw said that the returns are four times that of fixed-deposit rates.”