LATE CITY, 18 PAGES, AHMEDABAD, `4.00 ● MONDAY, OCTOBER 1, 2018 ● WWW.INDIANEXPRESS.COM TheIndian EXPRESS DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA JOURNALISM OF COURAGE RBI DATA ON PUBLIC SECTOR BANKS In 4 yrs, write-off 7 times recovery ANIL SASI NEW DELHI, SEPTEMBER 30 BUSINESS AS USUAL BY UNNY BETWEEN APRIL 2014 and April 2018, the country’s 21 Stateowned banks ended up writing off Rs 3,16,500 crore of loans even as they recovered Rs 44,900 crore written off on a cumulative basis — or less than one-seventh the write-off amount — according to RBI data. The recovery takes place on the total cumulative write-off and not only on write-off for a specific period. To put this number in perspective, the amount of bad loans written off by public sector banks (PSBs) during the four-year period is well over twice the projected budgetary expenditure on health, education and social protection for 2018-19, at Rs 1.38 lakh crore. Further, from April 2014 to April 2018, the loans written off by the 21 PSBs were over 166 per cent of the amount in the 10 years till 2014. According to data submitted by the central bank during its post-evidence reply before the parliamentary standing committee on finance, the recovery rate in PSBs during the four years to March-end 2018, at 14.2 per cent, is nearly three times higher than the 5 per cent for private banks. So, while the 21 PSBs account for around 70 per cent of the total banking assets, their contribution to bad loans is about 86 per cent of the total NPAs in India’s banking sector. FIGURES FOR 21 PSBs ■ Write-offs in April 2014-April 2018 Rs 3,16,500 cr; recovery Rs 44,900 cr ■ Amount over 166% of loans written off in 10 years till 2014 ■ Between 2014-15 and Dec 2017, NPAs rose to Rs 7.70 lakh cr, after RBI Asset Quality Review Even as the government has been trying to shore up PSB books through equity capital infusion and other measures, stressed assets have registered a steady rise since 2011. However, when it comes to NPAs, the growth was muted until 2014, followed by a dramatic rise since, particularly after 2015-16. This is because of the RBI undertaking an Asset Quality Review (AQR) of banks in 2014, which led to the recognition of many bank loans as NPAs, considered by banks as standard assets till then. So, while bad loans written off by PSBs between 2004 and 2014 added up to a little under Rs 1.9 lakh crore, more than half were waived off between 2013 and 2015. After that, the NPAs went up from 4.62 per cent in 2014-15 to 7.79 per cent in 2015-16, and climbed to as high as 10.41 per cent by December 2017. By the In Lucknow killing, ‘Born in year Mahatma Gandhi wife claims pressure, was shot... cleaning all my life’ Law minister agrees end of 2017, as a result of the AQR, gross NPAs of PSBs were up to around Rs 7.70 lakh crore. It is because of this increase in bad loans that PSBs were forced to make upfront provisioning on account of the expected losses. In 2017, the RBI also constituted an Internal Advisory Committee to determine cases to be referred under the Insolvency and Bankruptcy Code (IBC), a platform for time-bound recovery of bad loans. Based on its recommendations, 41 accounts were identified in two tranches. Of the entire NPAs, 12 accounts, involving Rs 1.75 lakh crore approximately, have gone to the NCLT (National Company Law Tribunal) since June 2017. CONTINUED ON PAGE 2 India wants trade deal to avoid tariffs, claims Trump LALIT K JHA WASHINGTON, SEPT 30 MAHATMA SWACHH BHARAT PART V The Indian Express reporters fan out across the country to mark milestones in the Mahatma’s journey. To bring stories of the footsoldiers of Swachh Bharat, whose job it is to wipe, mop and dust where the Mahatma once walked. Deputy CM Maurya with family of Vivek Tiwari. PTI AVANEESH MISHRA LUCKNOW, SEPTEMBER 30 THE WIFE of Apple executive Vivek Tiwari, who died early Saturday morning after being shot by a police constable in Lucknow, has filed a second FIR in the case. The new FIR claims that police officials who reached the spot did not allow Tiwari’s associate Sana Khan, who was with him at the time of the shooting, from receiving or making calls. It also accuses policemen of forcing Khan to sign on a blank paper. Speaking to PTI, Uttar Pradesh Justice Minister Brijesh Pathak backed some of the claims, accusing police of “hushing up” the killing. “The lone eyewitness was kept in police custody for nearly 17 hours and her signature was 8 WORLD CONTINUED ON PAGE 2 Liberty without statism THE EDITORIAL PAGE 11 taken on a plain piece of paper. The FIR was not registered the way it should had been. There is no consistency between the statement of Sana (who was accompanying the victim) and the FIR. And efforts were made to hush up the case,” he said. The new FIR on Sunday was lodged by Tiwari’s wife Kalpana. The first one had been filed by Khan and named Constables Prashant Chaudhary, who is accused of shooting Tiwari, and Sandeep Kumar, who was with him. Kalpana has said in the FIR that the details of what had happened had been revealed to her by Khan. Quoting Khan, the FIR filed by Kalpana says, “I was with my colleague ASM sir (Tiwari was the Area Sales Manager of Apple), returning home at around 1.30 am BY PRATAP BHANU MEHTA BELAGAVI: WHERE GANDHI PRESIDED OVER 1924 CONGRESS SESSION PARASHURAM GANGARAM SUNGAR, 70 JOB: Contract worker SALARY: Rs 10,000 a month WORK HOURS: 9.30 am-5.30 pm; one day off in a week CLEANS: Well premises, museum hall, park Parashuram at work in the ‘Gandhi Well’ park. Express JOHNSON T A BELAGAVI, SEPTEMBER 30 AT THE end of his lunch hour, Parashuram Gangaram Sungar, 70, likes to feed the fish in Belagavi’s “Congress Well”, which was dug in 1924 to provide drinking water for those attending the historic 39th session of the Indian National Congress — the only one presided over by Mahatma Gandhi. “The well has never dried up in the last 94 years,” says Parashuram, mashing a leftover roti from the “dabba” his wife has packed, sprinkling small pieces into a corner, bringing a swarm of mahseer to the surface. It was in 2002 that a memorial to mark the INC session took shape around the well in this north Karnataka town bordering Maharashtra. Since then, Parashuram has been cleaning CONTINUED ON PAGE 2 TOMORROW PORBANDAR PRESIDENT DONALD Trump Saturday said India wants to have a trade deal with the US because it does not want him to impose tariffs on their products. Trump’s remarks, for the second time in recent weeks, come days after Assistant US Trade Representative Mark Linscott returned from India, where he had detailed discussions with senior Indian officials on bilateral trade and a possible deal between the two countries. Trump often accuses India of imposing 100 per cent tariffs on American products. “We have a country, take India. Good relationship. They want to make a deal now because they don’t want me to do what I’m going to do... I have to. So, they (Indians) call us. They didn’t want to make a deal with anybody else,” he said. Trump referred to India in the context of his repeated allegation that other countries have been PoK PM Raja Farooq Haider Khan (left) with Minister Minhas inside the helicopter. Courtesy: Mushtaq Minhas Army fires at chopper on LoC; PoK says its PM, Ministers on board MAN AMAN SINGH CHHINA & NIRUPAMA SUBRAMANIAN CHANDIGARH, JAMMU, SEPTEMBER 30 A PAKISTANI civilian helicopter violated the air space agreement along the Line of Control (LoC) in J&K’s Poonch sector around noon Sunday and was fired upon by Indian Army troops using small arms, officials said. It returned undamaged after about a minute, they said. Speaking to The Indian Express, Pakistan-occupied Kashmir’s Tourism Minister Mushtaq Minhas said he was on board the helicopter at the time, along with PoK Prime Minister Raja Farooq Haider Khan, the PM’s personal security officer, and the province’s Education Minister Ifthikar Gilani. CONTINUED ON PAGE 2 It’s decided now, our jawans will strike back: Modi EXPRESS NEWS SERVICE NEW DELHI, SEPTEMBER 30 A DAY after India dismissed Pakistan’s claims that it was trying to sabotage talks, Prime Minister Narendra Modi on Sunday said although the country staunchily believes in peace and is committed to taking it forward, it cannot be “at the cost of compromising our self-respect and the sovereignty of our nation”. Speaking at his monthly radio address Mann ki Baat, the PM also warned that the country’s soldiers would “give a befitting reply” to anyone CONTINUED ON PAGE 2 Prime Minister Narendra Modi after inaugurating Mahatma Gandhi Museum at Alfred High School in Rajkot where the Father of the Nation had once studied. PTI CONTINUED ON PAGE 2 No candidate or no contest in 60% seats going to Economy on track, India municipal elections in Valley in first two phases set to overtake UK: PM ADIL AKHZER & BASHAARAT MASOOD SRINAGAR, SEPTEMBER 30 IN ALMOST 60 per cent of the seats going for municipal polls in the Valley in the first two phases, either no candidate has filed nomination or nominees have been elected unopposed. In four municipal bodies, no candidate has come forward in more than half the seats, while in at least 12 of the 24 municipal bodies, no voting would be needed. A total of 315 seats will go to polls in the first two phases, on October 8 and October 10, of which 185 have seen either no candidate or no contest. These seats do not include the more volatile regions of the Valley, including Shopian, Tral, Pulwama and Awantipora in South Kashmir and Hajin and Sopore in North Kashmir — going to polls in the third and fourth phases — which may see even more muted response. The figures for 307 seats were released by Chief Electoral Officer Shaleen Kabra four days after the last date of filing of nominations ended for the first phase. Asked what would happen to the 62 seats where no candidate had filed nomination, Kabra said “such seats would see by-elections”. On 123 seats being won uncontested, he said, “It is the people’s choice.” The response for the Srinagar Municipal Corporation, however, has been huge. For its 23 wards going to polls in the first two phases, 89 candidates have filed nomination papers. Not a single candidate has filed nomination papers from Frisal municipality (13 wards) in South Kashmir’s Kulgam; only one has come forward in Beerwah municipality (13 wards) of Central Kashmir’s Budgam; South Kashmir’s Bijbehara municipality (17 wards) has five candidates; and Yaripora municipality (6 wards) CONTINUED ON PAGE 2 GOPAL KATESHIYA SATAPAR (KUTCH), SEPT 30 CLAIMING THAT the Indian economy was “progressing rapidly”, Prime Minister Narendra Modi said Sunday that it would soon overtake that of the United Kingdom. Addressing a public meeting in Satapar village of Kutch after inaugurating three gas infrastructure projects collectively worth Rs 6,216 crore, the PM talked about the country getting its “100th airport”, with the opening of one at Sikkim, and said, “Last year, more people travelled by air than in air-conditioned coaches of the Railways. Now, tell me, if the country is changing or not?” He also claimed that while after 60 years of Independence, the country’s airlines had between them 400 aeroplanes, “in the last four years, orders for 900 planes CONTINUED ON PAGE 2 RELATED REPORTS PAGE 3 ● PAGE ONE ANCHOR ‘WE REMEMBER OUR YOUTH... HERE WE LEARNT TO BE HAPPY AGAIN’ FELL IN LOVE, SAYS TRUMP ON LETTERS WITH N KOREA’S KIM A group of seven Polish nationals, orphaned during WWII, revisit Balachadi camp where they were given shelter by Jamnagar Maharaja RITU SHARMA BALACHADI (JAMNAGAR), SEPTEMBER 30 INDONESIA QUAKE TSUNAMI: MASS BURIALS AS DEATH TOLL TOPS 800 IT WAS in the barracks of Balachadi camp in then Nawanagar, now Jamnagar, where Jerzy Jomaszek and Jadwiga, both now 90, met for the first time as 14-year-old teenagers. At the camp, Jerzy had developed liking for Jadwiga, but, he says, till date Jadwiga never ap- proved of him. After staying at the camp for almost 18 months, Jerzy left for East Africa to join another Polish camp, while Jadwiga returned to Poland. Both got married, had families and lived separate lives in Poland. They, however, stayed in touch and shared memories of Balachadi camp. It was only in 2008, when 80-year-old Jerzy kneeled down to Jadwiga and proposed to her after both of their spouses died. This time, after more than seven decades Jadwiga accepted his proposal. “We might be the oldest couple here but I bet we look the youngest,” says Jerzy with a big smile. The couple was a part of the seven-member contingent from Poland — referred to as ‘Survivors of Poland’ — who have returned to Balachadi, the camp where nearly one thousand Jewish and Catholic children came from Serbia in 1942 and stayed for almost six years. Jerzy Jomaszek and Jadwiga met at the camp 76 years ago. They married in 2008 when they were in their 80s. Javed Raja The group of seven, a majority in their late 80s and early 90s, were accompanied by their family members. They gathered at Sainik School, where once the camp stood, to commemorate 100 years of the regaining of Independence by the Republic of Poland and the special IndoPolish bond strengthened by the efforts of then Maharaja of Nawanagar Jam Saheb Digvijaysinhji who sheltered the Polish children, orphaned during the Second World War, in his estate. Looking at the building that now houses the school, Jerzy says, “This building is incomparable to the barracks. Around 30 of us shared a single barrack. It is like Poland, a small country against India, a continent in its own.” It was more than nostalgia for 51-year-old Tomek Gutowski, whose father, 84-year-old Roman, had once stayed in those barracks. Accompanied by his 22-year-old son Maceij, the three generations of Gutowski family came together to relive those memories. “This is the place about which I have heard from my father since I was two, as I did not have fairy tales,” says Tomek, directing to the sea shore from the terrace of CONTINUED ON PAGE 2
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