TheIndian EXPRESS LATE CITY, 16 PAGES, JAIPUR, `5.00 ● THURSDAY, NOVEMBER 1, 2018 ● WWW.INDIANEXPRESS.COM DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA 8 JOURNALISM OF COURAGE MARKETS RISE Govt dials down: RBI autonomy key, public interest our guide THE EDITORIAL PAGE Not for bench to rule on faith BY FAIZAN MUSTAFA But invokes Sec 7 to seek RBI views on liquidity for NBFCs, easing lending norms BUSINESS AS USUAL BY UNNY ENS ECONOMIC BUREAU NEW DELHI, OCTOBER 31 ‘MESSAGE TO WORLD, FUTURE’ Prime Minister Narendra Modi at the inauguration of ‘Valley of Flowers’, overlooking the 182-m-high Sardar Vallabhbhai Patel Statue of Unity at Kevadiya in Narmada Wednesday. PMO India Twitter PAGE 2 #MeToo in India Inc: Former Taj Hotels staffer speaks out Muslims being led away in Hashimpura, May 1987. Praveen Jain Delayed 31 years, Hashimpura justice: 16 cops get life in jail EXPRESS NEWS SERVICE NEW DELHI, OCTOBER 31 THIRTY ONE years after the Hashimpura massacre near Meerut in Uttar Pradesh, the DelhiHighCourtWednesdayreversed a trial court acquittal order and sentenced to life imprisonment 16 personnel of the Provincial Armed Constabulary (PAC),whohavesinceretired,for their role in the killing of 38 Submit Rafale’s price details and offset partner terms: SC to Govt ANANTHAKRISHNAN G NEW DELHI, OCTOBER 31 THE SUPREME Court Wednesdaydirectedthegovernmenttofurnishinasealedcover, within ten days, details of the pricing of 36 Rafale fighter aircraft being purchased from France. The bench of Chief Justice of India Ranjan Gogoi and Justices U U Lalit and K M Joseph said: “The court would also like to be apprised of the details with regard to the pricing/cost, particularly, the advantage thereof, if any, which again will be submitted to the court in a sealed cover.” The bench also made it clear that “details in this regard which may be considered to be strategic and confidential may, at this stage, be placed before the court and may not be furnished to the learned counsel for the parties or the petitioners-in-person”. OnOctober10,whilehearing twoPILs,theSupremeCourthad askedthegovernmenttosubmit in a sealed cover “details of the steps in the decision-making process leading to the award of the order”. It had clarified that it didnotwantpricingdetailsorinformation on technical suitability of the equipment for the Indian Air Force. Inlinewiththisdirection,the government submitted the details to the court. In the meantime, two more petitions were filed in the same matter, one by former ministers Arun Shourie and Yashwant Sinha and advocate Prashant Bhushan, and ME TOO SHALINI NAIR NEW DELHI, OCTOBER 31 Muslims. It said “this case points to the systemic failure that results,notinfrequently,inmiscarriage of justice”. Calling the actions of the PAC personnel on May 22, 1987 as “brutal and bone-chilling” — there were 19 accused but three diedduringthependencyof trial — the bench of Justices S Muralidhar and Vinod Goel made it clear that the life term awarded to each convict in this CONTINUED ON PAGE 2 A FORMER executive assistant with Taj Hotels, whose resignationletterallegingsexualharassment by Rakesh Sarna, then its CEO and MD, anonymously appeared in the media during the Tata-Mistry tussle in 2016 has now decided to speak on the record. Saying that she was inspired by the #MeToo tide, Anjuli Pandit told The Indian Express that she knocked on several doors at Tata Sons but few heard her out. Instead, she was “left with no choice but to quit.” After shecomplained,TataSonssetup a new committee where she deposedbuttwoyearson,shesaid, she is yet to get the report of its findings. The Indian Express has accessedofficialdocuments,emails, and other communications related to Pandit’s complaint and spoken with people who were aware of her experiences. Pandit, a US citizen and an Overseas Citizen of India (OCI) cardholder,whoworkswithafinancial advisory firm in London, joined the Tata Group in 2009 when she was 23. After a break for her Master’s degree at Sciences Po, Paris, she was back in Tata Sons in then Chairman Cyrus Mistry’s office My MeToo, Our WeToo Why this is India Inc’s incredible opportunity THEIDEASPAGE 9 THE GOVERNMENT stepped in to dial down the tension buildingupinitsrelationshipwiththe Reserve Bank of India underlining that the RBI’s autonomy “is an essential” and both the government and the central bank have to be “guided by public interest and the requirements of the Indian economy”. Sourcessaidthegovernment issued two specific directions to RBI and made a reference to Section 7 of the RBI Act, under which it can give directions to the central bank to take certain actions “in the public interest”. One is on opening a special liquiditywindowforNBFCsandthe other is to relax the Prompt Corrective Action (PCA) norms for at least three banks of the 11 in the PCA list. Itisalsolearntthatinitscommunication with the RBI, the government sought the central bank’s views on the formula for calculationof itsreservesandthe consequent surplus transfer to the Centre to partly address the CONTINUED ON PAGE 2 Ease of business: 23 ranks up, India among top 10 improving economies ENS ECONOMIC BUREAU NEW DELHI, OCTOBER 31 INDIA JUMPED 23 places to No.77 among 190 countries in the World Bank’s “Ease of Doing Business(EODB)2019”rankings, aidedlargelybyimprovementin areas such as “dealing with construction permits”, “trading acrossborders”,“gettingelectricity”, “getting credit” and “starting a business”. However, compared to last GEORGE MATHEW MUMBAI, OCTOBER 31 THE RESERVE Bank of India, under pressure from the government to open a special liquidity window for non-banking financial companies (NBFCs) and housingfinancecompanies,may have baulked at such a move on fears that such a facility was open to misuse, sources said. Once such a special window is opened, the RBI will have to CONTINUED ON PAGE 2 INSIDE ● AKBAR RECORDS STATEMENT IN DEFAMATION CASE, PAGE 3 Think IAS Think Drish� One Goal — One Hundred Percent Smart Work — One Way To Succeed One year, India saw its ranking dip on various other parameters, such as “registering property”, CONTINUED ON PAGE 2 RBI fears special window for NBFCs may be misused One Prelims — One Mains — One Interview — One Rank One Website Blog Forum Ministers Arun Jaitley, Suresh Prabhu in New Delhi, Wednesday. Anil Sharma Distance Learning Shop For Books Video Channel One Prelims Test Series Mains Test Series Mock Interview www.drish�ias.com One Family, One Vision, One Drish� IAS 19 years in the service of Civil Services Aspirants Since 1-11-1999 CONTINUED ON PAGE 2 Jaipur 6 EXPLAINED RBI & Govt: A delicate balance provideliquiditytoallcompanies approachingthecentralbankfor funds.“There’sadequateliquidity CONTINUED ON PAGE 2
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