Latest news with #JP
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Business Standard
17 hours ago
- Business
- Business Standard
Post JP Morgan index inclusion, FPIs turn sellers in FAR securities
After completion of inclusion process of domestic government securities in JP Morgan Indices on March 31, 2025, FPIs have net sold ₹31,262 crore worth of FAR securities so far New Delhi Passive inflow, amount (in ₹ crore) Foreign portfolio investors net bought ₹1.09 trillion worth of Indian government securities designated under the FAR (fully accessible route) route after the official inclusion of domestic securities in the JP Morgan indices between July 2024 and March 2025. The inclusion process was phased over a 10-month period with 1 per cent weight included each month until March 31, 2025. After completion of inclusion process of domestic government securities in JP Morgan Indices on March 31, 2025, FPIs have net sold ₹31,262 crore worth of FAR securities so far. The selling was primarily driven by profit-booking, along with narrowing of the yield spread between 10-year US Treasury bond and domestic benchmark 10-year bond which narrowed below 200 basis points in April as domestic demand on the back of expectations of deeper rate cut weighed on yields. Active inflow, amount (in ₹ crore) After the announcement of the inclusion in JP Morgan indices, there was net active inflow worth ₹92,302 crore between September 2023 and June 2024 as investors took positions ahead of the official inclusion. Investment in FAR securities had exceeded ₹1 trillion on October 16, 2023.
Indian Express
a day ago
- Science
- Indian Express
Daily Briefing: India onboard ISS
Good morning, India's ambitious campaign to host the 2036 Olympics may have hit a snag. The International Olympic Committee (IOC) has 'paused' the selection process for future hosts. The move came after IOC members criticised the current selection process, which involves a 'Future Host Commission', as being opaque and inconsistent. The IOC is expected to set up a working group to review the process. The timing couldn't be more delicate. The decision comes just days before an Indian delegation was to travel to Lausanne to make their pitch for the 2036 Games. While the meeting will proceed as planned, it's noteworthy that the number of countries interested in hosting the 2036 Olympics is in double digits. On that note, let's get to today's edition. A bit more humanity is now onboard the International Space Station (ISS), the permanent research laboratory in space. With a successful docking of the SpaceX Dragon spacecraft yesterday, Captain Shubhanshu Shukla became the first Indian to reach the ISS. The Axiom-4 mission is the fourth private mission to the ISS, and its crew will remain onboard for the next two weeks, conducting experiments. Currently, the ISS is hosting 11 people. Shukla, now astronaut number 634 (he is the 634th individual to travel to space), spoke about his experience shortly after the docking process. He said he was 'learning like a baby' to walk, control himself, and eat. 'I was not feeling very great when we got shot into the vacuum. But since yesterday, I have been told that I have been sleeping a lot… that's a great sign.' Zoom in: Docking in space, though a common occurrence now, is a complex procedure. It requires two spacecraft, travelling at speeds of thousands of kilometres per hour, to align their orbits, make contact and join together. Learn all about the process with our explainer. In an ongoing Express series, we spotlight the cases of regime brutality and stories of resistance during the Emergency. One such story is of Rajan Warrier, an engineering student, who is believed to have been picked up by the police on March 1, 1976, over a suspected Naxal attack on a police station. Rajan was not seen again. It wasn't until May 1977 that The Indian Express confirmed Rajan's death due to custodial torture. Thus began a father's fight to ensure Rajan's death wasn't lost in the darkness. We also revisit the 'mainstreaming' of the Rashtriya Swayamsevak Sangh (RSS) as it became an indelible part of the Janata Parivar. RSS volunteers became the crucial boots on the ground for Jayaprakash Narayan (JP)'s anti-Emergency stir. JP once famously remarked, 'If RSS is fascist, I am a fascist.' 'Double standards': Defence Ministers of the 10-member Shanghai Cooperation Organisation, who met in China, failed to issue a joint statement on Thursday after Defence Minister Rajnath Singh declined to sign the draft statement, which omitted a reference to the April 22 Pahalgam terror attack. As per sources, the document mentioned the Balochistan Liberation Army's hijacking of the Jaffar Express in Pakistan. Probe on: A multidisciplinary team is currently analysing data from the Air India AI171 flight's black box, which was recovered after the plane crashed on June 12, at a laboratory in Delhi. Extraction and analysis of the black box data are critical in helping investigators identify the cause of an aircraft accident. In harmony: Music conductor Maria Badstue grew up in a tiny Danish town with a Scandinavian name, but the mirror revealed a different story. She was a brown girl with brown eyes and dark hair — nothing like her White parents and those around her. Adopted from an orphanage in Maharashtra, Badstue has long navigated the politics of her identity, so intricately tied to language and belongingness. Read her story. Walking the tightrope: Conflicts across the world have reared their ugly heads, pointing to a challenge to international law. India stands much to lose with the ongoing crisis in West Asia as it has ties to balance with Iran, Israel and the Gulf states. Former diplomat Pankaj Saran underlines six takeaways from the war-torn West Asia and India's stakes. Who's poor? Earlier this month, the World Bank stated that just 5.75% of Indians now live under abject poverty, significantly down from the 27% in 2011-12. This, however, does not provide a complete picture of India's poor. To begin with, the World Bank raised its poverty line in June to $3 a day. To calculate the Indian rupee equivalent with the market exchange rate would be faulty, as it does not take into account the purchasing power parity (PPP). So, how should one look at the poverty line? What does it say about India's actual poor? I will let my colleague Udit Misra explain. India may have a crisis at hand, going into the second Test against England in Birmingham. The Playing XI will be without the X-factor, Jasprit Bumrah, India's chief wicket-taker. Though Bumrah is expected to return for the third Test in London, Team India now has the tough task of replacing him from a relatively inexperienced team. Who can lead India's pace attack? Read Sandeep Dwivedi's dispatch from England. 🎧 Before you go, tune into the latest '3 Things' podcast episode. Today's lineup: Iran's nuclear programme, AI at Jagannath Rath Yatra and the Udaipur rape case. That's all for today, folks! Happy weekend-ing! Sonal Gupta Sonal Gupta is a senior sub-editor on the news desk. She writes feature stories and explainers on a wide range of topics from art and culture to international affairs. She also curates the Morning Expresso, a daily briefing of top stories of the day, which won gold in the 'best newsletter' category at the WAN-IFRA South Asian Digital Media Awards 2023. She also edits our newly-launched pop culture section, Fresh Take. ... Read More
Indian Express
a day ago
- Politics
- Indian Express
‘Socialists, RSS had common ground then… Sangh families sustained underground movement': Dattatreya Hosabale
RSS sarkaryawah (general secretary) Dattatreya Hosabale was a 21-year-old student when the Emergency was imposed, and among those jailed under the Maintenance of Internal Security Act (MISA). In an interview with The Indian Express, Hosable, now 70, talks about the RSS's involvement with Jayaprakash Narayan's Movement, its collaboration with the socialists, and the organisation of underground networks after the ban on it. Excerpts: First, there was a student protest against hostel fees at an engineering college in Gujarat. It became a widespread agitation in the entire state against corruption. This was the time of the Chimanbhai Patel government (of the Congress) in Gujarat. A Navanirman Yuvak Samiti was started by the student leaders. The ABVP participated in this agitation as one of the leading organisations. The Gujarat CM had to resign under pressure of the student agitation. There were many such corrupt practices in different parts of the country… Student agitations were brewing on many campuses. In Bihar, a student agitation started against price rise and corruption of the (state's) Abdul Ghafoor government. The agitation was led by the ABVP and other student organisations. There was police lathicharge and firing on the students… There were widespread protests by the people and some prominent leaders in the society in response. After this, the ABVP leaders and others approached Lok Nayak Jayaprakash Narayan to guide them. JP had two conditions. One, the agitation should be totally non-violent and peaceful. Second, it should not be led by political leaders. The student leaders consented, and JP agreed to lead the movement. The ABVP was an active participant… The Sangh leadership also stood behind this as it was an agitation for the betterment of society… a fight against corruption, price rise… and the demand was for better employment and education systems. This is how the RSS joined the JP Movement… Not directly as an organisation – but indirectly – through swayamsevaks who were active among students, labour unions… JP's agitation too was organised by these organisations (linked to the Sangh). And Sangh workers extended support for these tours, local meetings and rallies. Seeing all this, the Indira Gandhi government banned the RSS. We had better relations with the socialists during the movement. Communists were not very active in most of the states… But the socialists, Samajwadi Jan Sabha, Jana Sangh and ABVP… We all had common meetings to organise rallies for JP… There were some common points, common grounds (between socialists and the RSS). George Fernandes, Ravindra Verma, Ravi Ray, Mohan Dharia and many socialists…. all had direct interactions with (Jana Sangh leaders) Nanaji Deshmukh, Bhaurao Deoras and many others. Student and youth organisations of the Sangh vichar parivar (the larger Sangh family) also played an active role. I was one of them in Karnataka. Some people tried to oppose the participation of the ABVP, but JP directly told them that those who agree with the agenda of the movement can join in. He said others had no right to prevent the entry of any organisation that is ready to support those common points. Even those who were critical (of the RSS) had to shut their mouth. On November 14 1975, the satyagraha against the Emergency was launched. A large number of the RSS cadre and other organisations inspired by the RSS were detained. In the beginning, the underground movement was led by Nanaji Deshmukh, Ravindra Verma, George Fernandes, Duttopant Thengadi and many others. When Nanaji Deshmukh and Ravindra Verma were arrested, the Lok Sangharsh Samithi (the common platform leading protests against the Emergency) appointed (RSS leader) Dattopant Thengadi as its general secretary. So, the underground movement was sustained greatly because of the Sangh's personal contacts and through the help of their families. To run an underground movement, it is necessary to escape from the eyes of the police… The RSS had this informal contact and communication. For months together, workers who were part of the underground movement could not go to their families and homes. Many had to shut their business, resign from their jobs or discontinue their education. Many people could not meet their family members, particularly elders, who were suffering because of certain diseases. Income was almost zero… Sangh workers made arrangements for various such resources through an organisational network.
Indian Express
2 days ago
- Politics
- Indian Express
‘Congress leaders wanted Indira ji, JP to talk, find a meeting ground… But it didn't happen due to her coterie': Govindacharya
In the early 1970s, K N Govindacharya was the RSS Patna Vibhag pracharak, putting him at Ground Zero of the student-led protests that snowballed into a mass agitation against the Indira Gandhi government, and led to her invoking the Emergency. Now 82, the once powerful BJP general secretary, representative of the party's push beyond its Brahmin-Bania base, is more engaged in social and environmental activism. He talks to The Indian Express about his recollections of the Emergency, including his meeting with Jayaprakash Narayan. Excerpts: On March 18, 1974, there was firing in front of the Assembly in Patna when students tried to storm it, and the offices of two pro-agitation newspapers, Pradeep and Searchlight, were torched. That day a MISA warrant was issued against me and Ram Bahadur Rai. On March 19, we quietly met Jayaprakash ji; I had worked with him during drought relief in 1966. He first said you people are upadravi (troublemakers), and have torched two newspaper offices. I told him that both torched offices belonged to newspapers that were supportive of the students' agitation… I asked him to make enquiries to test my claim. It was then decided that on March 27, there would be a small protest. Shivanand Tiwari was arrested that day. Jayaprakash ji then announced that if curfew was not lifted by March 29, he would take to the streets. Curfew was lifted a day earlier. On April 8, JP held a rally at Gandhi Maidan, where he talked of vyavastha parivartan (systemic change). JP had to go to Vellore soon after that for treatment, as he was unwell. The students' agitation continued, with some support from other organisations, but began to lose steam. So we decided to make Opposition MLAs resign… In between, there was a police lathicharge in front of a girls' school in Gaya. JP said that this government cannot stay, and that the Assembly should be dissolved. From May 8- 9 (1974), Opposition MLAs began to resign. In early June, Jayaprakash ji returned from Vellore. On June 5, the Chhatra Sangharsh Samiti planned a protest. The procession was attacked by activists of the Indira brigade… The then district magistrate told the gathering that it should stay calm, and police would act action against only miscreants. JP endorsed what the DM said, and gave the gathering a slogan – Sampoorna kranti ab naara hai, bhaavi itihas hamara hai (Total revolution is our slogan now, the future will be ours). After that, the rains began, and all activities were carried on in-house. Early in October, a Bihar bandh was called. In November 1974, Indira Gandhi commented that since JP is 'so democratic', the coming elections would determine who had the support of the people. JP accepted the challenge, and said that the agitation would take an all-India form. No, she had begun to become intolerant. (Congress) Young Turks like Chandra Shekhar ji wanted talks between Indira ji and JP; they wanted to find a meeting ground… But that did not materialise because of her coterie – like Om Mehta, R K Dhawan, Makhanlal Fotedar… After the jolt from the court, there was a sudden change in her. We heard that she got to know that there would be a show of strength at the Congress Parliamentary Party meeting. So, she moved towards the imposition of internal Emergency. On June 25, 1975 (the day the Emergency was imposed), I was in Varanasi and heard something was about to happen. So I returned to Patna by Punjab Mail, and decided not to go to the RSS office but first assess the situation. I sent a student there to figure out what was happening, and he said there were police all around, and the premises were being searched… I had learnt from the (1974) Bihar agitation how to work underground. That same night, I met six of our workers to decide where all our prominent state leaders would take shelter. We decided to withdraw money collected during RSS guru dakshina (before bank accounts get frozen) and to hide the list of those who donated it. I managed to stay in hiding through the Emergency, and was eventually sent to jail for one day after (the 1977 Lok Sabha) elections had already been declared. On February 24, 1977, I had gone to Bhagalpur for a poll campaign. At the house where the meeting was being held, police came. An informer had given the tip-off. The cops asked for Govindacharya. People told them I had left. They asked me, I said I was Ram Bharose Tiwari, and my father was Jogeshwar Tiwari. Police left, but returned, because of what the informer had told them. I was to be sent to jail, but the Sangh had got the news. A bail application was immediately submitted. The next morning I got bail. I never stayed for more than a week at any place. I travelled through Bihar, Assam, Bengal, Odisha, Manipur and other parts of the Northeast. I used to stay in the homes of ordinary organisation workers. Jayaprakash ji was released from jail within months because of his kidney ailment, and came back to Patna after treatment. Bhaurao Deoras of the RSS wanted to meet him. We found ways for it. A professor, Ramakant Pandey, asked me to convey to JP that he should go for a morning walk each day. The plan was to decide beforehand where he would have breakfast, and to bring the person who wanted to meet him to that house in advance… Police and intelligence personnel would be stationed outside. In 15 minutes, the conversation would be over… Once JP met Bhaurao ji in this manner. We did this six-seven times. I went to JP with the RSS prant pracharak, and he said we should get sweets. We said you have diabetes and are on dialysis. He said it doesn't matter. He ate sweets that day. Many did not want to contest the elections, some were in jail. Some were released because they were candidates, and then many of those in jail wanted to contest to secure their own release. George Fernandes wasn't released. He won from jail. Till February (1977), we did not sense that people were supporting us. Then, there was a game changer: Jagjivan Ram, Hemwati Nandan Bahuguna and Abdullah Bukhari entered the campaign for us. This made a big change. Phir jwaar badhta hi chala gaya (the tide then kept on rising).
The Hindu
2 days ago
- Politics
- The Hindu
Revisiting Emergency through images
It has been 50 years since the Emergency was imposed on June 25, 1975. It lasted all of 21 months, coming to an end on March 21, 1977. Its impact, however, has lasted longer. The Emergency era remains fresh in the minds of the public, with politicians and academics invested in the constitution and polity of the nation. 'The long 1970s were the hinge on which the contemporary history of India turned, transforming the young postcolonial country into today's India,' author Srinath Raghavan said in a recent interview with The Hindu. His book Indira Gandhi and the Years That Transformed India is only one of many recent works aiming to demystify these years and what transpired. Only recently, Coomi Kapoor's The Emergency: A Personal History received an uncertain Bollywood treatment in the form of Kangana Ranaut's similarly titled film, which received a lukewarm response. As several narratives exist — political, academic, imaginative — there exist some undeniable facts and turning points during this era. We take a look at some images published by The Hindu, which sought to capture the zeitgeist — before, during and after the Emergency era. Also read: Revisiting a dark chapter: 50th anniversary of Emergency declaration ARCHITECTS OF THE EMERGENCY: Prime Minister Indira Gandhi with President Fakhruddin Ali Ahmed, when she called on him on August 21, 1974. Mrs. Ahmed is at left. On her cabinet's advice, President Fakhruddin Ali Ahmed proclaimed Emergency under Article 352 citing 'internal disturbances'. Photo: The Hindu Archives THE MARCH THAT SHOOK MRS. GANDHI: Socialist leader Jayaprakash Narayan is seen seated outside the locked gate of the Patna Secretariat while leading the anti-corruption movement in Bihar in October 1974. As JP began touring more states, he also united several anti-Congress parties and the protests against Indira Gandhi government grew, which was seen as a prime reason for her recommending the Emergency. Photo: The Hindu Archives JP's MOVEMENT: JP leading a 'march to Parliament' in Delhi in March 1975. His movement brought an end to the Congress rule at the Centre for the first time in 1977. Different political parties came together under the banner of his Janata Party to provide the country its first non-Congress government. Photo: The Hindu Archives GUJARAT REVOLT: Morarji Desai (centre) sat on an indefinite fast to press for early election in Gujarat. Elections were held in June and for the first time and the only time, Gujarat threw a hung Assembly verdict. Two weeks later, Emergency was imposed. RAILWAYS STRIKE: This image, which later became a symbol of the state of Emergency, was taken when trade union leader George Fernandes was arrested during the all India railway strike in May 1974. Fernandes led the agitation demanding pay revision and eight-hour work shifts for railway workers. Despite his arrest, about 70% of railway workers stayed off from work, bringing the country's largest PSU to a standstill. A LEGAL BATTLE LOST: Indira Gandhi lost the legal battle in the Allahabad High Court in a petition filed by Raj Narain (in picture), challenging her election in 1971 from Rae Bareli in Uttar Pradesh. The conviction meant she ceases to be an MP. EMERGENCY IMPOSED: The first page of The Hindu dated June 26, 1975, reports President proclaiming Emergency, on its front page. WHEN A CM PROTESTED: Karunanidhi, then the Chief Minister of Tamil Nadu, distributes handmade pamphlets to public near Anna Statue in Mount Road to protest press censorship during Emergency. On July 12, 1975, he addressed a mass meeting on the Marina Beach in Madras, declaring there was neither an internal nor external threat to India and called upon the vast concourse to take a pledge to defend their freedoms. His government was subsequently dismissed. This image was taken from a photo display at Kalaignar Karuvoolam. Photo: M. Vedhan THE STORY OF THE UNSEEN: When JP was addressing a meeting in Vijayawada against the Emergency in 1975, three three youngsters - Yalamanchali Sivaji, Yarlagadda Lakshmi Prasad and Kambhampati Hari Babu - can be seen. All of them became MPs subsequently. Sitting in the audience, but missed in the click is a young man who was among several people arrested for opposing the Emergency. It was M. Venkaiah Naidu, who went on to be the Vice-president of India. This picture was shared with The Hindu by Dr. Sivaji. Photo: Special Arrangement DMK FACES THE WRATH: Young DMK leaders M.K. Stalin, Arcot Veerasamy, Murasoli Maran were among those detained in MISA. C. Chittibab, former Mayor of Madras, died in custody while trying to protect Stalin. Photo shows the cell at the erstwhile Madras Central Prison where Chief Minister M.K. Stalin was detained under the Maintenance of Internal Security Act during the Emergency. THE GOVERNMENT NARRATIVE: In this image shared by the Press Information Bureau, some of the members of the Indian community in London, called on Indira Gandhi, in New Delhi on September 15, 1975. They had participated in the massive demonstration in support of Emergency measures and against the distortions by the British press and BBC. Photo: Special Arrangement THE JANATA GOVERNMENT: Morarji Desai (left) talking to L.K. Advani (right) while Jayaprakash Narayan watching them, in New Delhi on January 22, 1977. This photograph wouldn't have been possible prior the Emergency given their political views. But the anti-Congress leaders joined hands to form the Janata government, handing out Congress its first defeat at the Centre. Moraji Desai became the Prime Minister, L.K. Advani, the I&B Minister, while JP chose to stay away from electoral politics. Photo: The Hindu Archives ENDING EMERGENCY: Indira Gandhi called for fresh elections in March 1977 and released all political prisoners. The picture shows Ms. Gandhi meeting leaders of the Opposition parties in New Delhi on January 28, 1977. NEW LEADERS RISE: The Emergency gave birth to a new wave of politicians, Chandra Shekhar being a prominent face. He and Atal Bihari Vajpayee, who were ministers in the Janata Government, eventually became prime ministers.
