Home Blog Page 3763

PM Modi makes a ‘Vikas’ push in UP, narrates how Jewar airport was stopped by SP govt: All you need to know

OpIndia Staff
-
0
PM Modi makes a ‘Vikas’ push in UP, narrates how Jewar airport was stopped by SP govt: All you need to know

On Thursday, November 25, PM Modi laid the foundation stone of the Jewar International Airport near Noida, Uttar Pradesh. The planned airport is to be constructed over an area of 1334 hectares and will have the capacity to handle 1.2 crore passengers a year.

The proposed airport is stipulated to be India’s largest.

Speaking at the event, PM Modi hailed how the land acquisition and compensation to farmers has been done for the Jewar airport. He stated that earlier, farmers had to wait for years to get compensation for their land, but now, under the BJP rule, the process has been made hassle-free and fast.

Emphasising his government’s commitment to finish infrastructure projects on time, PM Modi stated that earlier, costs kept on escalating while work remained pending. He added that the previous Samajwadi Party government in UP had written to the Centre asking to stop the proposed airport.

The PM added that the previous governments had kept UP away from progress and development, causing the state to be infamous for bad roads, criminal activities and lack of infra. However, under BJP ‘double engine’ government, the state is finally getting its due.

It is notable here that in 2012, the Akhilesh Yadav government had scrapped the Jewar airport plan. The UPA government had also created hurdles stating that another airport within 150 km of IGI may not be feasible.

“Infrastructure is not a part of politics for us but a part of national policy. We are making sure that the projects do not get stuck or go astray”, the PM stated.

Airport will provide Udaan to the entire region

PM Modi asserted that it is the first time in India that an airport is being conceptualised as a multi-modal cargo hub. The airport will provide wings to fly for the entire region, he added.

The PM added that the Jewar airport will be the logistic gateway for northern India, and will benefit crores of people in UP, Delhi and the NCR.

Jyotiraditya Scindia, the Union Minister of Civil Aviation added that the jewar airport will bring investments worth 60,000 crores to the state of UP.

About the Jewar airport

When the Jewar airport becomes functional, UP will be the only state in India with 5 international airports. Located about 72 km away from IGI airport in Delhi, the Jewar airport is expected to be India’s largest. A sum of Rs 10,050 crores has been released for the first phase of construction.

The first phase of the construction is expected to be completed in 2024. 2 runways will be developed in stage 1 while a third runway will be added in the later stage. A total of 5 runways are proposed in the plan. The construction will be executed by Zurich Airport International AG. It will also be India’s first ‘net zero’ emissions airport. The land has been allocated for development as a forest park, using trees from the airport site.

The Jewar airport will be of great help to decongest the IGI Airport in Delhi and will bring new businesses to the area. All major expressways like the Yamuna Expressway, Western peripheral Expressway, Eastern Peripheral Expressway and Delhi-Mumbai Expressway will be connected to the airport.

Last month, the PM had inaugurated the Kushinagar International Airport in UP. Another international airport is currently under construction in Ayodhya.

The National Portal for Transgenders by the Modi govt: How it empowers the marginalised Transgender community in India

Simi Mishra
-
0
The National Portal for Transgenders by the Modi govt: How it empowers the marginalised Transgender community in India

Each year between November 13th and November 19th, people and organizations around the country participate in Transgender Awareness Week to help raise the visibility of transgender people and address issues members of the community face. Gender ideally should have no linkage to fundamental rights. But for the trans community, this has been the norm for decades rather than an exception. Most national identification cards all over the world, including the US, UK and EU or identifying documents include a gender marker.

The presence of such markers, especially on birth certificates, contribute to our society’s emphasis on gender as a criterion for assigning identities, roles and responsibilities within society. With gender being such a determining and dominant identifier, it puts gender identity at the centre of so many aspects of societal norms and standards. Importantly the same categorisation creates a basis for discrimination and inequality.

The trans community has been recognized as one of the most marginalised communities in India and has been deprived of basic amenities such as education, health care, and employment opportunities. The absence of legal recognition, associated rights and protection lays the community bare and exposed to humiliation, driving many trans persons into the shadows of societal non-acceptance and non-existence. 

The importance of a birth certificate is often underestimated. Have you ever thought what are the consequences when your birth certificates and ID documents do not reflect your identity? This is the reality that many transgender people are facing across the world. Ensuring that the birth certificate and ID reflect the preferred name and gender becomes a key part of transitioning. “When your ID does not match your identity, you end up as being irrelevant to the society. You are looked upon as aliens. You are left at the mercy of everyone you interact with, including your family and friends”, said Piya a transwoman from the Delhi NCR.

The world over demand for legal gender recognition has pushed many governments into a moral panic mode. The Trans Legal Mapping Report is a research project by ILGA World which shows de facto criminalisation of trans people under laws is present in 37 countries. But it is a crucial fight. Trans persons continue to struggle with this fundamental right. As the Council of Europe’s Commissioner for Human Rights has stated, “It is clear that many transgender persons do not fully enjoy their fundamental rights both at the level of legal guarantees and that of everyday life.” 

In this context, having a centralised legal avenue for resolution can become life-changing.

The Indian government upheld this sentiment and recognised this basic need. The National Portal for Transgenders was set up and the thought behind its genesis was to ensure that transgender communities are to be included, and rights to privacy, free expression, and dignity are to be upheld. It is through the set-up of this portal the confidence of the community has solidified the relationship with the government which is just one of the many in a series of positive affirming policies and initiatives that have come into place under the stewardship of Prime Minister Modi. 

The National Portal for Transgenders in 2020 by the Ministry of Social Justice & Empowerment for getting Transgender Certificate and Identity Cards and is an important provision of The Transgender Persons (Protection of Rights) Act, 2019. Recognizing this need as a critical and most fundamental first step the Ministry of Social Justice & Empowerment set up the National Portal for Transgenders. The portal allows trans persons to get Transgender Certificate and Identity Cards as per their self-perceived identity, which is an important provision of The Transgender Persons (Protection of Rights) Act, 2019. Transgender ID Card Application Form 2021 is now available at the official website transgender.dosje.gov.in.

The National Portal for Trangender Persons facilitates trans persons to get identity cards.

The most important benefit is that it helps the transgender person to get the I-Card without any physical interface and without having to visit any office. Through the Portal, they can monitor the status of their application ensuring transparency in the process.

The portal is now available in Bengali, Gujarati, Kannada, Malayalam, Marathi, Odia, Punjabi, Tamil, Telugu and Hindi, apart from English. The portal will also enable trans persons to register their grievances and help build a database of the community. 

“Doors to education, social welfare schemes, health, employment, bank accounts and housing are based on I-Cards and documents”, said Ravi Mishra a counsellor who works closely with the trans community. He further said, “Many people did not think they would one day they would be able to live their trans identity socially and legally but the portal has shown them it is possible.”

Surat: Girl dies in a coffee shop, parents say absconding ‘friend’ Zahir Ahmed had posed as a Hindu to approach her

OpIndia Staff
-
0
Surat: Girl dies in a coffee shop, parents say absconding ‘friend’ Zahir Ahmed had posed as a Hindu to approach her

The parents of the B.Ed student, who died after falling unconscious in a coffee shop in Surat on Monday, have called it a case of murder. They have accused Patel Madni Zahir Ahmad, the boy who was with the girl in the coffee shop, of poisoning her.

The 21-year-old girl, originally from Odisha, had gone to a coffee shop named Coffee Castle in the Rajdreanm complex near Mahavir college with the accused man on Monday, November 22, where she fell unconscious. Later, she was taken to a hospital, where she was declared brought dead. The youth reportedly fled and his mobile phone has been switched off since then.

Kishore Bagdolia, DCP Zone 3 Surat said: “On Monday the deceased student had come to the coffee shop with her friend identified as Patel Madni Zahir Ahmad where she fell unconscious. Later she was shifted to a hospital in an ambulance where she was declared dead.”

‘Zahir Ahmed had introduced himself as Mahesh to befriend the deceased B-Ed student from Surat’, say parents

As per a report by Desh Gujarat, the girl’s father- Sushant Sahu told the Surat police that the youth, Patel Madni Zahir Ahmad had befriended his daughter using a fake Hindu identity. He had introduced himself as Mahesh to the deceased. The father accused Zahir Ahmad of poisoning his daughter. He said that his daughter was mentally very strong and could not commit suicide.

According to Sushant Sahu, Zahir Ahmad had been harassing the girl for some time now, because of which she had recently changed her college too.

Parikshit, the brother of the deceased student said: “She had earlier complained that she was being harassed by one of her colleagues. On Monday, she had gone to her previous college to get some documents and we suspect that the same student who used to torture her might be involved in the incident.” Parikshit added that on the day of the incident, the girl’s mobile phone was switched off for more than three hours.

The brother of the deceased asserted that the fact that the youth fled and hasn’t turned on his phone since the incident, proves that he is responsible for his sister’s murder.

Parents call it a murder, accept body only after crime branch takes over the probe

The family of the deceased had reportedly accepted the victim’s dead body only after the case was handed over to the crime branch. The family had met police commissioner Ajay Tomar and demanded that the angle of murder be probed in the case.

According to TOI, the girl, who lived in Kamrej, had gone to the cafe with Zahir Ahmad on November 22, Monday. The duo was sitting in a closed cabin in the coffee shop. When there was no movement for around two hours, the coffee shop manager went to check on the couple and found them in an unconscious state.

A local newspaper, has, however, reported that the youth, who named himself Mohammad Madni in the coffee shop register, had gone up to the manager after almost two hours and informed him that the girl had fallen unconscious. After that, the girl, with the help of others, was taken out of the cabin. An ambulance was called and she was taken to the hospital. The youth had accompanied the girl to the hospital. When the doctors declared her dead, the youth fled from the hospital and has kept his mobile switched off since then.

The incident reported in a local newspaper

Here it is important to note here that while most of the media outlets have said that only the girl was found in an unconscious state in the coffee shop, some outlets like TOI and Ahmedabad Mirror have reported that both the youth and the girl were found unconscious by the manager of the shop.

Meanwhile, a senior police official has said that a case has been registered and the exact cause of the death will only be ascertained after post mortem is conducted by an expert panel.

Sub-inspector KP Jadeja said that the post-mortem report could not confirm the presence of poison in the girl’s body. Nor did it talk about strangulation. Since the exact reason for the death could not be ascertained, the help of SFL (Special Forensic Science Laboratory) has been sought. He said that there are a particular variety of poisons that are not detected in the forensic post mortem. That is why such samples are sent to the SFL.

Delhi ‘peace and harmony panel’ headed by AAP leader Raghav Chadha summons Kangana Ranaut over her ‘derogatory’ remark against Sikhs

OpIndia Staff
-
0
Delhi ‘peace and harmony panel’ headed by AAP leader Raghav Chadha summons Kangana Ranaut over her ‘derogatory’ remark against Sikhs

Padma Shri awardee actress Kangana Ranaut has been summoned by the Delhi assembly’s panel on peace and harmony, headed by Aam Aadmi Party leader Raghav Chadha, over her alleged remarks against the Sikhs. Ranaut has been told to appear before the committee on December 6.

The notice signed by its deputy secretary to Kangana Ranaut read that, “The committee has received numerous complaints eliciting inter alia, outrageously offensive and derogatory Instagram stories/posts allegedly published by yourself on 20.11.2021 over your official Instagram account…”

The summon notice further added that “blanketly labelling (Sikhs) as Khalistani terrorists… has the potential to engender disharmony as well as cause wounding humiliation to the entire Sikh community.”

“Given the gravity and the importance of all these issues in the NCT of Delhi, the committee on ‘Peace and Harmony’ under the Chairmanship of MLA Raghav Chadha has summoned Ms Kangana Ranaut to appear before the Committee so as to deliberate on the present issue in a more comprehensive and coherent manner. The summons were issued and she has been called to appear on 06.12.2021 at 12 pm,” the statement added.

Screenshot of the notice sent to actor Kangana Ranaut, source: Twitter handle @rupashreenanda
Screenshot of the notice sent to actor Kangana Ranaut, source: Twitter handle @rupashreenanda

Kangana Ranaut miffs Sikh leaders with her Indira Gandhi ‘crushing Khalistanis under her juti’ remark

The actor also faces a first information report (FIR) in Mumbai filed by Sikhs for the same. Moreover, on Saturday (November 20), the Delhi Sikh Gurdwara management committee had also filed a complaint against Ranaut accusing her of supposedly referring to the entire Sikh community as ‘Khalistani elements.’

In a 4-page long complaint filed with the Additional Commissioner of Police (Bandra) and Cyber Cell unit (Delhi), the Gurdwara management committee, headed by Akali Dal leader Manjinder Singh Sirsa, also alleged that the actress outraged the respect and dignity of Sikhs by claiming that former Prime Minister Indira Gandhi crushed Khalistanis like mosquitoes.

Irked by Kangana Ranaut’s Instagram stories, Akali Dal leader Manjinder Singh Sirsa had also gone on to call the actress a “factory of hate” and demanded stringent action by the Indian government against the actress for putting up alleged ‘hateful content’ on Instagram. “Her security and Padam Shri must be withdrawn immediately. She should either be put in a mental hospital or in jail,” he emphasised.

Instagram stories of Ranaut have sparked outrage on social media

In an Instagram story, the actress stated, “Khalistani terrorists may be arm twisting the government today. But let’s not forget one woman. The only woman prime minister who crushed them under the shoe. No matter how much suffering she caused to this nation, she crushed them like mosquitoes at the cost of her own life. But, she did not allow the nation to divide. Even after decades of her death, even today, they shiver at her name. They need a guru like her.”

The so-called farmer protests, in which farmers primarily from Punjab blocked roads around Delhi, had prompted security concerns. The protests had turned violent earlier this year on Republic Day, when a farmer-led “truck rally” broke down barriers, and some “farmers” desecrated the Red Fort and assaulted Delhi Police officers. There have been intelligence reports that Khalistani elements sponsored by Pakistan entered the protests in order to manipulate the ‘protests’ to stir anti-India sentiments.

Many times during the protests, Khalistani slogans, Referendum 2020, and posters honouring Khalistani separatist Jarnail Singh Bhindranwale were seen. As a result, it was impossible to rule out the potential that the protests had become a security threat.

From finest pashmina shawls to Rahul Gandhi’s new gaffes to PM Modi’s oratory skills, what all to expect in winter session of Parliament

Shiv Mishra
-
0
From finest pashmina shawls to Rahul Gandhi’s new gaffes to PM Modi’s oratory skills, what all to expect in winter session of Parliament

Winter brings with itself, amongst other things, the winter session of parliament. The session, in turn, brings members to their respective Houses in the Parliament. MPs, tired of smooth talking in seminars, social gatherings and tv debates, get a chance to do some hard talks and show their skills of invading the parliament well to obstruct proceedings.

Some leaders work really hard to come up with ideas and ways to save democracy by not letting parliament function. Speakers, too, work hard to bring their Houses in order, sometimes with a fair degree of success. The winter session also presents some of the best clothing and great pashmina shawls. 

So, what can we expect this winter session? Government has announced its proposal to introduce The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 which seeks to “create a facilitative framework” for creation of the official digital currency to be issued by RBI. It should be a welcome move especially since there has been lots of speculation on what the government is going to do about trading, investment and use of cryptocurrency in the country. There is further speculation about the bill proposing to ban all private cryptocurrency in the country. 

It’s high time the government presented a framework to regulate cryptocurrencies, especially when the Indian economy is recovering from ill effects of the pandemic and it can’t afford to face any possible economic and financial shock due to something happening in Cryptocurrencies. An estimate puts the number of Indian investors/traders in the range of 1.5 to 2 crores with an investment of about 40,000 crores. 

Apart from the proposed bill on cryptocurrency, the repealing of farm laws is on the government’s agenda. The Farm Law Repeal Bill is likely to generate some heated exchanges between the government and opposition. The government is likely to introduce the Electricity Amendment 2021 which is tipped to present the most comprehensive and important reforms in Power sector. The Bill proposes to delicense the power distribution business and allow private players to compete with government owned entities. It will provide immense freedom to consumers by allowing them to choose between distributor companies.      

Apart from these Bills, the government will certainly try to present its achievement on fighting the pandemic, especially how it vaccinated a large population with more than 100 crores doses. Prime Minister Narendra Modi will be certainly preparing to deliver his side of the story on repealing the three farm laws. His supporters will also love to see him deliver one of his best speeches to destroy opposition, something he has done in the past with elan. He has been the government’s best orator in the last several years and he will certainly use this opportunity to talk to the nation, something he enjoys thoroughly.    

What can we expect from opposition? Well, one of the opposition parties, BKU, has already proposed to march to the parliament on tractors. Also, as a collective agenda, irrespective of what the Prime Minister says and opposition agrees to in the all party meeting before the start of the session, the 23 days session is likely to witness an opposition, opposing the government on a plethora of issues, ranging from rising inflation to Supreme Court’s order on Pegasus and repealing of farm laws to what happened in Lakhimpur Kheri and how nothing less than the resignation from the Prime Minister and Home Minister can save the democracy. 

We may witness Trinamool Congress MPs, coming up with their own agenda, and creating ruckus on the government order which gives more power to BSF and also about how action against their party leaders in Tripura is blatant misuse of governmental powers and murder of democracy. Parties ruling Maharashtra as Maha Vikas Aghadi, will come up with their own opposition to the Ministry of Cooperation and how it is a state subject and how central government has no right to intervene in cooperative movement. However, it may still behave cautiously as their ruckus may open up a pandora box as the government may counter them with facts about their former ministers and police officials. It can’t be ruled out that opposition parties may be busy pooling up the ideas and reasons and finally agreeing to choose some of those to block the proceedings. 

As far as individual MPs are concerned, Rahul Gandhi, though fresh from a foreign vacation, should come up with some new gaffes. People would love to see Dr Tharoor pronouncing some till now unheard English words and phrases. Dr Subramaniam Swamy is likely to praise Mamata Banerjee and tell how no present day leaders can be compared with her when it comes to honesty, fighting for saving the democracy and understanding pulse of the nation. We may witness Derek O’ Brien thanking Dr Swamy for the same. Expect some BJP MP to discuss the observation of Allahabad High Court on Uniform Civil Code and Salman Khurshid comparing Hindutva with Boko Haram and ISIS. Many will be expecting Ram das Athavle to recite his new poem.

If allowed to function, parliament will present a good winter session which will commence from November 29 and will likely conclude on December 23.

Param Bir Singh hid 26/11 Mumbai terror attack convict Ajmal Kasab’s mobile phone: Retired Mumbai police ACP Shamsher Khan

Jhankar Mohta
-
0
Param Bir Singh hid 26/11 Mumbai terror attack convict Ajmal Kasab’s mobile phone: Retired Mumbai police ACP Shamsher Khan

Another serious charge has been levelled against former police commissioner Param Bir Singh, wanted in several ongoing cases under investigation including the Antilia Bomb scare, Mansukh Hiren murder case, and the Mumbai police extortion case, among others.

Retired Mumbai police ACP Shamsher Khan Pathan has accused Param Bir Singh of hiding the mobile phone of the 26/11 Mumbai terror attack convict Ajmal Kasab after he was caught.

Shamsher Khan Pathan had written to the Mumbai Commissioner of Police and demanded an enquiry and action in the matter.

As per reports, the retired ACP stated in the letter that the then-senior PI Mali of the DB Marg police station had informed him that he had recovered a mobile phone from Kasab, which was kept with the police station’s police constable Kamble. He further wrote that Parambir Singh had then arrived at the signal at Girgaum Chowpatty, where Kasab was apprehended and took the phone with him. He should have handed the phone over to Ramesh Mahale, the investigating officer, but instead, he took it with him.

Pathan said that at the time of the attack, Kasab and other terrorists were speaking with their handlers in Pakistan. He might have known who the Pakistani handler was and if there were any Indians in the group.

This matter should now be thoroughly probed, said Pathan.

Other allegations levelled at Param Bir Singh during the 26/11 Mumbai attack

It may be recalled how Hasan Gafoor, who was the Mumbai Commissioner of Police during the 26/11 Mumbai terror attacks, had accused senior police officials, including Param Bir Singh of not taking on the terrorists. He had said that Param Bir Singh and three others “ did not appear keen on responding to the situation”.

In 2009, soon after the 26/11 Mumbai terror attack, a petition was filed against Parambir Singh and three other additional commissioners of police on the charges of dereliction of duty during the Mumbai terror attack.

A Public interest litigation (PIL) was filed seeking action against these officers and their suspension on the charges that officers such as Param Bir Singh had failed to follow orders of the then police commissioner.

The petitioner had claimed that had the senior officers obeyed the orders, the terror situation would have been brought under control much earlier and many lives could have been saved. The petitions said that if the officers had acted properly, two more terrorists could have been caught alive. The petition was filed based on Hasan Gafoor’s statement.

Singh appears before Mumbai Police after a court declares him a ‘proclaimed offender’, issues warning

Meanwhile, former Mumbai Police commissioner Param Bir Singh on Thursday morning appeared before the crime branch of the Mumbai Police, which is probing an extortion case against him. The IPS officer, who was earlier declared a ‘proclaimed offender’ by Mumbai’s Esplanade court, had been missing since October.

“I will join the investigation as directed by the court,” Singh told reporters soon after he arrived in Mumbai. On Wednesday, the IPS officer, who is facing several extortion cases in Maharashtra, had said that he was in Chandigarh.

Recently, on November 17, former police commissioner Param Bir Singh was declared a proclaimed offender in an extortion case by Mumbai’s Esplanade court. The court further passed a proclamation to declare former Mumbai CP Param Bir Singh an ‘absconder’ if he does not respond to the summons in 30 days.

Singh had not reported to work since May this year after he was relieved of his duties as Mumbai police commissioner and his subsequent allegations of corruption against then Maharashtra HM Anil Deshmukh.

Cryptocurrency and India: Busting the myths and conspiracy theories as Govt tables the Bill in winter session

Santanu Chakraborty
-
0
Cryptocurrency and India: Busting the myths and conspiracy theories as Govt tables the Bill in winter session

The Indian government has announced that the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, is expected to be tabled in the Winter Session of Parliament. The bill will seek to create a framework for the official digital currency to be issued by the Reserve Bank of India. The bill looks to “prohibit certain private cryptocurrencies while allowing certain exceptions to promote the underlying technology and its uses.”

The Central Bank digital currency is a systematic first step towards adoption of blockchain technologies for enhancing administrative service delivery capabilities to the remotest parts of the country. This will pave the way for legalising crypto currency in India. It seems the Indian government comprehends the complexities involved and is moving in a critical, balanced and thoughtful manner.

It seems India is planning to restrict private coins that by their design restricts access to their transactional information. This could also be a welcome move because such coins could be abused in the dark net and for money laundering. It is a systematic progressive step towards adopting new technologies that will help break the imperial shackles of bureaucracy laid down by the British colonial system.

The government notification has created some consternation in the crypto markets and some of the coins have dropped as much as 20%. Taking advantage of this mayhem, some so-called experts are fanning fuel to the fire by advancing their conspiracy theories to trash cryptocurrency and kite-fly certain myths. To elevate the level of discourse in crypto in India, we must understand a few basics regarding cryptos and dispel these nine widely held myths.

Myth 1: Crypto is gambling

Under existing laws, tokens are not securities. A token is just a computer code, code is just speech and speech is just an idea. A lot of cryptos have real end use applications or are solving real life issues. Just as the Indian stock markets of the 1980s saw huge speculation, scams, wrongdoing, it was not gambling. Similarly, cryptos are not gambling. Even if the government bans trading in some coins, it cannot stop the idea or the technology behind it. That apart bans have never worked. For example, George Orwell’s 1984 became a global bestselling book just because it was banned by some overreaching bureaucrat.

Myth 2: People will lose money in crypto

We have seen, whether be it in personal life or business, no one is free from falling into a fraud. Even large investors have lost millions for not verifying the basics. Therefore, the tulip mania and teakwood frauds happened because investors did not do their basic due diligence. Such things also happen in highly regulated markets like stocks, bonds, and currencies.

People have fallen prey to easy moneymaking schemes, as they have not understood the technology. If you don’t verify the basics like functions of a contracts of the tokens they have invested or the amount of non-blocking tokens managed by the developer team, or investing in projects that have no real use utility in the future, then you can lose money. Then it can become like a Ponzi scheme with a pump and dump mechanism.

Myth 3: Cryptocurrency has no underlying assets so it is a Ponzi scheme

Cryptos are codes. When two codes transact in real time, they cannot wait for the different rules of several nations involved in the transaction to agree on uniformity. The adoption of this technology has been very fast and sweeping across the globe and people are using cryptocurrencies to buy sandwiches, arts, mobiles and maybe much more. It is a losing game trying to restrict the technology. Generally accepted accounting principles (GAAP), treat cryptocurrency as an intangible asset (not a financial asset) that is recorded at cost, and impairment of the asset cost must be recorded. This means the value can be reduced on a balance sheet over time.

When you deposit currency into a bank, it is storing it in a vault until you return to withdraw it. Effectively your bank deposit is a loan from you to that bank which holds zero reserves, making you an unsecured creditor. So even the safest investment in the current world – that is bank fixed deposits – do not effectively have underlying assets. It runs only on your belief that somehow the government is going to step in and save the bank depositors in a crisis.

Myth 4: Cryptocurrencies are a ‘limited supply of nothing’

I will give you an example to contend this apprehension. There is no limited supply for Ethereum, which ranks just after Bitcoin in popularity. More importantly, Ethereum daily earns $80 million in just platform fees from third parties.

Myth 5: Crypto counters authority of governments

Not necessarily. Indian government may move to regulate cryptos as an asset class while at the same time providing regulatory supervision where cryptos are used as a medium of exchange. The modern monetary industrial complex is running on the US dollar and some of the powerful countries are trying to run away from the dollar fiat system. India will have an edge if it introduces an alternative digital universal payment system.

Myth 6: You cannot get super rich investing in cryptos.

Try telling this to those who invested in BITCOIN between 2010 and 2013. To add to that, cryptocurrency is ideal for India to pitchfork into the big league of nations. Indian youth has education, enterprise, and innovation. If they can build and sell WEB 3.0 technology solutions, we can define the future of the globe.

Myth 7: There cannot be a global consensus on ONE private crypto needed to become global currency

The waves of centralisation and decentralisation always happen in cycles like the ebb and flow in the leitmotif of time. At one point we had millions of tribes doing their own thing and then most of them came under the Catholic Church. Then around the turn of 16th century, the printing press and Martin Luther led to decentralisation that resulted in the birth of different religious sects, philosophies, nation states that ultimately heralded the industrial age.

Myth 8: Crypto is just speculation and it’s not really a market

The web 3.0 technology evolution is already happening on chain. So tradeable digital assets in the DeFi (decentralized finance) matrix will lead to transparency of order books across the globe. Order book transparency can remove 99% of the ills of the current centralized market infrastructure. In DeFi, automated order books can make instantaneous price discovery across tokens, contracts, NFTs, fiat money, arts you name it. That is the future of modern markets.

Myth 9: Cryptos are bad for the environment

More than cryptos, the greed of human beings is bad for the environment. The answer is not to stop living but to evolve and fix the flaws. The energy use and high gas fees are just temporary, fixable flaws in the cryptocurrency ecosystem.

Conclusion

The revamping of the financial system through the introduction of digital currency will tear down the existing system manipulated by individuals and corporations for their own benefit. The blockchain platform developed by India will be a milestone for rural economic development. I contend that a central bank blockchain platform along with a regulated crypto market will benefit the Indian technology ecosystem. It is my firm belief that the government will take into consideration the views of all the stakeholders before drafting a comprehensive legislation that builds in the aspirations of the technology and the financial community.

(Santanu Chakraborty is a markets maximalist who has founded a company that is developing blockchain technology solutions. He is an investor and a digital technology enthusiast. He was the former markets reporter with Bloomberg LP and Dow Jones/Wall Street Journal. He could be contacted on [email protected])

Congress crisis in Meghalaya: Ex-CM Mukul Sangma and 11 other MLAs join TMC

OpIndia Staff
-
0
Congress crisis in Meghalaya: Ex-CM Mukul Sangma and 11 other MLAs join TMC

The Congress party is heading for big trouble in Meghalaya as 12 out of their 17 MLAs have dumped them to join the Trinamool Congress Party on Wednesday. The 12 also include former Meghalaya CM Dr Mukul Sangma. A formal announcement is said to be scheduled for Thursday. With 12 jumping ships, Congress will now be left with only 5 MLAs in Meghalaya.

This comes less than a week after Mukul Sangma, the former chief minister of Meghalaya, met with AICC leaders in Delhi. Sangma is also connected to political strategist Prashant Kishor, with whom he met in the city, according to reports.

Asked about the mass exodus, Mukul Sangma, who is believed to have orchestrated this entire move, told News18: “Cannot say much about this. We will brief the media at 1 pm tomorrow. Few other MLAs will also be present.”

However, the channel quoted an inside source from Congress as confirming that Sangma and the other 11 MLAs submitted their resignation letter to Assembly Speaker Metbah Lyngdoh on Wednesday evening. “We have quit Congress and have joined TMC, we are having a press conference tomorrow at 1.30 pm to announce this,” said a close aide of Sangma.

This development comes a month after Congress senior leader Rahul Gandhi met former Meghalaya Chief Minister Mukul Sangma and the party’s state president Vincent H Pala over their demands.

Sangma, the assembly’s Leader of the Opposition, was said to be dissatisfied with Congress’s senior leadership.

Since the latter was selected as the new Meghalaya unit chairman in the month of August, former Chief Minister and Congress Legislature Party leader Mukul M Sangma and Pradesh Congress Committee chief Vincent H Pala have been at odds. Sangma had also asserted that the party leadership did not consult him on Pala’s appointment. In fact, in September, Sangma had not attended the function held to felicitate Pala.

In an attempt to placate Sangma, Congress president Sonia Gandhi and senior leader Rahul Gandhi met with him in Delhi in October, after which he said that “efforts are being made to iron out the divisions.”

Soon after the meeting, Sangma was seen campaigning for a Congress candidate in one of the three constituencies where bypolls were held on October 30.

Sangma and Pala recently met with Congress national secretary (organisation) KC Venugopal and AICC Meghalaya in-charge Manish Chatrath on November 18.

When contacted, Chatrath expressed surprise at the development. “KC Venugopal and I had a cordial meeting with Sangma, PCC president Vincent Pala, the three working presidents and some other senior leaders of the party from the state just five days ago, on November 18. Sangma had also issued a statement after that meeting, vowing to strengthen the party,” he said.

Previously, a TMC senior and minister in West Bengal’s Mamata Banerjee government told News18 that the party is attempting to get Sangma into their folds to assist TMC to expand its base in the Northeast.

With this shocking turn of events, the Trinamool Congress party, despite not winning a single seat in the 2018 state elections, will become the principal opposition party in the assembly in Meghalaya. The Congress, which so far had 17 MLAs, will now be reduced to only five.

The Meghalaya exodus has come in the wake of several other Congress leaders, including Kirti Azad and Ashok Tanwar had joined TMC, along with JDU MP Pavan Varma. In August, senior Congress spokesperson Sushmita Dev had joined TMC.

BJP supporters rejoice as they wonder if Subramanian Swamy will join TMC: Here is what they are saying

OpIndia Staff
-
0
BJP supporters rejoice as they wonder if Subramanian Swamy will join TMC: Here is what they are saying

BJP supporters rejoined as speculations of BJP leader Subramanian Swamy joining TMC gained ground. On Tuesday, Swamy, who has been lashing out at the government for months now, met Mamata Banerjee and showered praises on her merely 6 months after Bengal saw a reign of terror being unleashed during the post-poll violence. While he retweeted messages from his fans praising him for “raising the issue of atrocities against Hindus with Mamata Banerjee”, Swamy took to Twitter to declare that he will meet officials to “fact check” the post-poll violence in West Bengal that saw the murder and rape of several BJP workers.

“Around mid Dec.I will go with a VHS team to Bengal to assess the situation that developed recently in some parts of the State. I will talk to officials for doing a fact check. I recall CM Mamata three years ago responding favourably when I told her about freeing Tarkeshwar Temple”, Swamy tweeted after questions were raised on his intentions. 

While Swamy fans alleged that BJP workers would need “Burnol” after he met Mamata Banerjee, BJP workers were found rejoicing at the prospect of him joining TMC. Columnist Abhishek Banerjee took to Twitter to ask BJP supporters if they were happy at the possibility of Swamy joining BJP. Several supporters responded in the affirmative.

“Good Riddance”, one Netizen responded.

There were others hankering for entertainment in an otherwise mundane political scene.

One plugged a gif of an ecstatic baby.

One Netizen listed leaders sidelined by PM Modi and said that he had a 100% record in identifying individuals who would jump ship.

Several others hoped that Mamata Banerjee would induct Swamy in TMC saying they would be the perfect fit for each other politically.

While some supporters rejoiced the prospect of Swamy joining TMC, others pointed out that he was a turncoat and never really ideologically rooted as he claimed to be. One netizen, for example, posted a picture of him with Khalistan terrorist Jarnail Singh Bhindranwale. It is pertinent to note that Swamy has praised Bhindranwale on several occasions.

Many believe that Subramanian Swamy is a turncoat who cares far more about getting a position in the government than the ideology he claims to espouse. While masquerading as a “Virat Hindu”, there have been several occasions in history where his intentions were under scanner. It is pertinent to note that Swamy played an important part in bringing the Atal Bihari Vajpayee government down. He had also demanded a ban on RSS and peddled the ‘Hindu terror’ theory. He had further opposed the construction of Ram Mandir, praised Khalistan terrorist Bhindranwale, made scandalous accusations against Vajpayee himself, shielded China on several occasions and praised leaders who were explicitly working against the Hindu cause.

This is not the first time that Swamy has showered praise on Mamata and given her reign of terror a free pass. In 2020, Swamy had responded to a tweet criticising her politics, saying: “According to me Mamata Banerjee is a pucca Hindu and Durga Bhakt. On a case by case basis she will act. Her politics is different. That we will fight in the maidan.”

According to Indian Express, Swamy gave a cryptic response when asked about him joining TMC. “I was already with her (Mamata). There is no need for me to join the party,” he told reporters.

Kerala: Islamic scholar says shopping malls are haram because women might visit beauty parlours and look at other men

OpIndia Staff
-
0
Kerala: Islamic scholar says shopping malls are haram because women might visit beauty parlours and look at other men

Hussain Salafi, an Islamic scholar from Kerala has stated that Muslims should stay away from malls because Allah does not like malls. As per a report by Janam TV, Hussain Salafi said that men and women roam together in malls and Allah dislikes malls.

The Islamic scholar added that Muslims should boycott malls. He asserted that Allah’s favourite places are mosques.

Salafi further added that women who visit malls also visit beauty parlours. Malls see visitors and shoppers from different cultures who wear all different kinds of dresses. “These are the children of devil”, Salafi added, Muslims who visit malls are tarnishing the image of the whole community.

Explaining all the ‘evil effects’ of a mall, Salafi further added that in malls, men and women roam together. The gaze of women falls on other men inside malls. Women looking at men brings disrepute to the Muslim community, he added, saying that Muslims should stay away from malls.

Women who use perfumes are adulterers

Recently, another Islamic scholar named Sirajul Islam had claimed that women who clean themselves are adulterers. This statement was taken further by Hussain Salafi who stated that women who use ‘Attar’ or perfumes are adulterers, they do it because they are interested in committing adultery.

1...3,7623,7633,764...7,677Page 3,763 of 7,677