TheIndian EXPRESS LATE CITY, 28 PAGES, NEW DELHI, `6.00 (`8 PATNA & RAIPUR, `12 SRINAGAR) ● SATURDAY, OCTOBER 27, 2018 ● WWW.INDIANEXPRESS.COM DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA Undermine RBI autonomy, face markets’ wrath, ignite economic fire: Deputy Governor speaks up GEORGE MATHEW MUMBAI, OCTOBER 26 Viral Acharya (right) said Governor Urjit Patel suggested he explore theme of autonomy in his speech ATOPReserveBankof India(RBI) official on Friday warned that “governments that do not respectcentralbankindependence will sooner or later incur the wrathof financialmarkets,ignite economic fire, and come to rue thedaytheyunderminedanimportant regulatory institution”. RBI Deputy Governor Viral Acharya said the market can dis- cipline the government not to erode central bank independence, and it can also make the government pay for its transgressions. “Interestingly, the market also forces central banks toremainaccountableandindependent when it is under government pressure,” he said. Delivering the A D Shroff Memorial Lecture in Mumbai Friday, Acharya listed three “important pockets of persistent weakness” in maintaining the independenceof theRBI.One,its inability to undertake the full scope of actions against public sector banks vis-à-vis private banks; two, the discretion to retain reserves without having to transfer surpluses to the government; and, three, protecting its regulatory scope, a case in point being a recommendation to have a separate payment regulator bypassing RBI’s powers. “I chose for today’s occasion the theme of the importance of independent regulatory institutions, and in particular, that of a central bankthatis independent from an over-arching reach of the state,” Acharya said. “This theme is certainly one of great sensitivity but I contend it is of even greater importance to our economic prospects.” In a footnote, he acknowledged that it was Governor Urjit Patel’s “suggestion” that he “explore this theme.” According to Acharya, good progress in earning RBI’s independence has been made in the CONTINUED ON PAGE 2 J&K: Soldier suffers head injury during stone-pelting, dies EXPRESS NEWS SERVICE SRINAGAR, OCTOBER 26 A22-YEAR-OLDsoldier,whosufferedaheadinjuryinanincident of stone-pelting in Anantnag district of South Kashmir on Thursday, died at the Base Hospital in Srinagar on Friday. Sepoy Rajendra Singh was part of a Quick Reaction Team that was providing security to a Border Roads Organisation (BRO) convoy on Thursday evening. “At around 1800 hrs, when the convoy was passing through the Anantnag Rajendra bypass triSingh junction near NH-44, few youths hurled stones at the vehicle. Sepoy RajendraSinghwasinjuredafter being hit by a stone directly on the head,” said Col Rajesh Kalia, the Army spokesperson in Srinagar. He said Singh was provided first aid and rushed to 92 Base Hospital, but succumbed to his CONTINUED ON PAGE 2 GOVT & POLITICS ● BJP, JD(U) WILL CONTEST EQUAL NUMBER OF SEATS IN BIHAR: AMIT SHAH Hafiz Saeed’s JuD, FIF no longer in Pak banned list SAJJAD HUSSAIN ISLAMABAD, OCTOBER 26 MUMBAI ATTACK mastermind Hafiz Saeed’s organisations, the Jamaat-ud-Dawa(JuD)andFalahi-Insaniyat Foundation (FIF), are no longer on the list of banned outfits in Pakistan after the ordinance that proscribed them under a UN resolution lapsed. According to a report in the Dawn newspaper, the new ImranKhan-ledgovernmentdid not extend the ban by former president Mamnoon Hussain, who had promulgated an Ordinance amending the AntiTerrorism Act, 1997, in February this year, to declare JuD and FIF as proscribed groups. Deputy Attorney General Raja Khalid Mehmood Khan confirmed that the ordinance has lapsed. — PTI FULL REPORT ON www.indianexpress.com Mahinda Rajapakse being sworn in as Sri Lanka’s new Prime Minister by President Maithripala Sirisena in Colombo on Friday. Reuters Sudden regime change in Lanka: Rajapakse is back, now as PM NIRUPAMA SUBRAMANIAN & ARUN JANARDHANAN CHANDIGARH, CHENNAI, OCTOBER 26 SRILANKAwas in turmoilFriday after former President Mahinda Rajapakse made a stunning return to power as the country’s 14 India & Japan, East meets East THEEDITORIAL PAGE By ARUN PRAKASH CEO of BCCI makes women uncomfortable, must go: Diana Edulji ● RLSP CHIEF KUSHWAHA MEETS TEJASHWI, P 6 16 WORLD MANSUSPECTED OFSENDING EXPLOSIVESTO TRUMPCRITICS ARRESTED ERDOGAN TO SAUDI ARABIA: WHERE IS KHASHOGGI’S BODY? Edulji is part of the 2-member CoA ME TOO DEVENDRA PANDEY MUMBAI, OCTOBER 26 A DAY after Vinod Rai, who heads the two-member Committee of Administrators (CoA), decided to set up an independent committee to probe allegationsof sexualharassment against BCCI CEO Rahul Johri, his colleague Diana Edulji stuck to her call to sack him. Edulji,aformerIndiaskipper, said that the allegations against Johri have not just tarnished Indian cricket’s reputation but his presence in the BCCI will make all women— herself,players and office employees — new Prime Minister. He was sworn in by President Maithripala Sirisena who fired Prime Minister Ranil Wickremesinghe.But Wickremesinghe called the move “illegal and unconstitutional” and said he would prove his majority in Parliament. The dramatic developments in Colombo followed a break- uncomfortable. Speaking to The Indian Express,Eduljisaid:“Asawoman in the CoA, it was my moral duty toaskfortheresignationbecause my women’s team is there, my womensupportstaffisthere,and there are women staff working in BCCI. He (Johri) will roam around freely in the office. What messagearewesendingtothese girls?HowcanIsitinthemeeting withhim?Ican’tlookinhiseyes. You can’t say now he can’t sit in CONTINUED ON PAGE 10 MORE REPORTS PAGE 9 MoD tweet slams Army officers, spokesperson goes on leave EXPRESS NEWS SERVICE NEW DELHI, OCTOBER 26 HIGHLIGHTING A widening rift between the armed forces and the bureaucracy over privileges and status, the Defence Ministry’s spokesperson on Friday tweeted about “misuse” of facilities by military officers, while responding to a tweet by Admiral Arun Prakash (retd), a former Navy chief. While the tweet by the spokesperson,SwarnashreeRao Rajshekhar,fromtheofficialhandle, @SpokespersonMoD, was laterdeleted,andsheapologised forit,manymilitaryveteransexpressedtheiroutrageonTwitter. Later in the evening, Rajshekhar went on leave. “Col. Aman Anand, took over as the CONTINUED ON PAGE 2 ● PAGE ONE ANCHOR 24 YEARS AFTER THEIR MURDER , THEY CAN NOW REST IN PEACE ABHISHEK SAHA TINSUKIA, OCTOBER 26 “WE — PRABIN, Akhil, Pradip, DebojitandBhaben—aresaying that we five unarmed and innocent youths lie here as witnesses... When you return from here tell everyone that we sacrificed our lives in the hope of a beautiful future of Assam.” So reads a dirge in Assamese on a signboard erected at the memorial of the five men — Prabin Sonowal (29), Pradip Dutta (33), Debojit Biswas (30), Akhil Sonowal (36), Bhaben Moran(35)—killedincoldblood From left: The three survivors, Prakash Sharma, Gunin Hazarika and Moteshwar Moran after being picked up from their homes for questioning by the Army in Assam’s Tinsukia district in February 1994. Twenty-four years later, on October 13, 2018, an Army court martial ruled in favour of the victims and sentenced seven Armymen, including a Major General and two Colonels, to life imprisonment for the extrajudicialkillings.Theorderawaits clearance from higher Army authorities, which may take two-three months, according to defence officials. The memorial — adjacent to a National Highway at Dangari and popularly referred to as ‘Panch Swahid Memorial’ (Five Martyrs Memorial) — was erected by the All Assam CONTINUED ON PAGE 2 down in ties between Sirisena and Wickremesinghe, especially on policy issues related to economy and security. Sirisena’s UnitedPeople’sFreedomAlliance announced it was leaving the NationalUnityGovernmentwith Wickremesinghe’s United National Party. The government had been CONTINUED ON PAGE 2 JOURNALISM OF COURAGE CVC WILL PROBE UNDER RETIRED SC JUDGE SC sets 2-week limit for probe into CBI chief, reins in Govt appointee CJI bench restrains interim chief Nageshwar Rao from taking major decisions, disallows Asthana petition ANANTHAKRISHNAN G NEW DELHI, OCTOBER 26 THE SUPREME Court Friday set a two-week deadline for the Central Vigilance Commission (CVC) to complete its probe against CBI Director Alok Verma who, alongwithSpecialDirector Rakesh Asthana, was stripped of all responsibilities and sent on leave Tuesday night. Justice AKPatnaik,aretiredjudgeof the SupremeCourt, will monitor the CVC probe. A bench of Chief Justice of India Ranjan Gogoi, Justices S K Kaul and K M Joseph, while hearing petitions by Verma and NGOCommonCauseagainstthe government move, also restrained interim CBI Director M Nageshwar Rao from taking any “policy decision(s) or any major decision(s)” and directed that he “will only perform the routine tasks that are essential to keep the CBI functional”. The bench made it clear that it will look into all decisions that Nageshwar Rao has taken till date,including“transferof investigations,changeof Investigating Officer(s) etc”. Senior advocate Fali S Nariman appeared for Verma and senior advocate Dushyant Dave for Common Cause. After hearing the lawyers of CONTINUED ON PAGE 2 Security personnel outside the CBI office during the Congress protest in Delhi, Friday. Prem Nath Pandey FULL COVERAGE, P7 The third man: Sharma’s son and his web of firms in Asthana’s complaint DEEPTIMAN TIWARY & SATISH JHA NEW DELHI, AHMEDABAD, OCTOBER 26 CBI JOINT Director Arun Kumar Sharma’s son and daughter are on the board of directors of at leastfourcompanieswheretheir partners range from a person mentioned in the list of undesirable contact men and the relative of a caterer recently raided by the CBI to the wife of a CBI CONTINUED ON PAGE 2 BUSINESS AS USUAL BY UNNY
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