DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PUNE, VADODARA SATURDAY, OCTOBER 10, 2020, NEW DELHI, LATE CITY, 18 PAGES THE POET OF DISILLUSIONMENT BY PRATAP BHANU MEHTA PAGE 10 BUSINESS AS USUAL BY UNNY MEETING OF RECONSTITUTED MONETARY POLICY COMMITTEE DEUTSCHE BANK TRUST RBI keeps key rates unchanged, says GDP could contract 9.5% this fiscal Growth could be back in Q4; three-speed recovery likely, says RBI Governor GEORGE MATHEW MUMBAI, OCTOBER 9 Two months after 18-yr-old’s suicide, rape case filed, 6 held in Chhattisgarh `6.00 (`8 BIHAR & RAIPUR, `12 SRINAGAR) WWW.INDIANEXPRESS.COM SINCE 1932 THERESERVEBankof India(RBI) on Friday kept key policy rates unchanged, signalling that the country, barring a second wave of novel coronavirus infections, is poised to “renew its tryst with its pre-Covid growth trajectory”, and thatinflation is likely to ease closer to the target of 4 per cent bythefourthquarterof 2020-21. GovernorShaktikantaDas,af- ter a meeting of RBI's monetary policy committee (MPC), said there were “some encouraging signs” of a business turnaround, andthateconomicactivitycould return to growth in the JanuaryMarch quarter — even as real GDP is projected to contract by 9.5percentforthefullfiscalyear. The economy is likely to witnessathree-speedrecovery,and the MPC has decided to address the more urgent need to revive growth,Dassaidwhileunveiling thebi-monthlymonetarypolicy. RBI Governor Shaktikanta Das “The deep contraction of the June quarter of 2020-21 is behind us; silver linings are visible in the flattening of the active (Covid-19)caseloadcurveacross the country,” he said. The newly revamped MPC, headed by Das, said a faster and stronger rebound in the economy was “eminently feasible” if the current momentum of upturn gained ground. The panel, whichretainedtheaccommodative stance, said real GDP was likely to grow by 20.6 per cent in the first quarter of 2021-22. The central bank announced a series of measures to provide more liquidity and keep bond yields under control at a time when central and state CONTINUED ON PAGE 2 E X P L A I NE D THE EDITORIAL PAGE JOURNALISM OF COURAGE E ● Room forcut THE RBI has said a faster and stronger rebound in the economy was “eminently feasible” if the current momentum of upturn gained ground. The decision to keep the policy rate unchanged at 4% implies there is room for further rate cuts. WORLD KONDAGAON, OCTOBER 9 CONTINUED ON PAGE 2 TRUMP MAPS RETURN TO CAMPAIGN TRAIL CHINA: COVID BROKE OUT ELSEWHERE LAST YEAR, WE REPORTED IT FIRST PAGE 13 Ram Vilas Paswan’s son, Chirag Paswan, in New Delhi on Friday. The last rites will be held in Patna on Saturday. Dipankar Ghose Delhi heads to 12 Janpath as it bids final farewell to Ram Vilas Paswan DIPANKAR GHOSE NEW DELHI, OCTOBER 9 UNTIL THURSDAY, 12 Janpath in the heart of New Delhi was alive with excitement. The LJP had made an audacious move in Bihar, deciding to go it alone in the state elections. As party founder and Union Minister Ram Vilas Paswan lay at the Fortis Escorts Hospital, his THE IDEAS PAGE INSIDERAND CHANGEMAKER BY M VENKAIAH NAIDU PAGE 11 home was abuzz with ticketseekers. The house at the centre was off bounds, but people thronged the offices to the left and right — ticket-seekers looking for an opportunity,politicalworkerslookingtocongratulate Paswan'sson Chirag for his political courage. Chirag himself split time between home and the hospital, welcomingleadersintohisparty by morning, and being by his father's side at other times. On Friday, a day after 74-year-old Paswan passed away, the house, the offices, the people, were quiet. Mourning the loss of one of contemporaryIndia'spolitical behemoths.Allpoliticsforgotten. The walls of the house were an ode to Paswan's life. From photographs with Lalu Prasad YadavandMulayamSinghwhen they were young socialist leaders,tothosewithPrimeMinister NarendraModi.Theytoldastory of a life lived in public glare. In the middle of a large, CONTINUED ON PAGE 2 says not reached peak yet HARIKISHAN SHARMA NEW DELHI, OCTOBER 9 AMITABH SINHA, LIZ MATHEW & SHAJU PHILIP PUNE, KOTTAYAM, THIRUVANANTHAPURAM, OCTOBER 9 The World Food Programme headquarters in Rome. Reuters Public Distribution System, besides piloting innovative solutions such as the recent 'Annapurti', automatic grain dispensers — ATMs for rice— that are aimed at checking CONTINUED ON PAGE 2 EXPLAINED WHATTHEWORLD FOOD PROGRAMME DOES PAGE 9 KERALA,THEfirststatetogetthe novelcoronavirus,tookfour-anda-half months to record its first 10,000 infections. This Wednesday,itreportedmorethan10,000 infections in a single day. There was a time Kerala was fetedgloballyforeffectivelycontaining the spread of the virus. Over the past few weeks, it has seen more cases every day than DAILY CASES IN KERALA 9,250 10,606 12,000 10,000 8,000 7,445 6,000 4,000 3,349 2,000 0 May1 Oct9 any other state barring Maharashtra and Karnataka. CONTINUED ON PAGE 2 Silicon Valley star is now teacher in TN, says busy with new start-up — rural school PAGE 1 ANCHOR ARUN JANARDHANAN CHENNAI, OCTOBER 9 FOR THE rest of the world, Sridhar Vembu is the founder of Zoho Corporation, a Silicon Valley star valued by Forbes at nearly $2.5 billion who decided to take the unusual step of moving to a small village in Tenkasi insouthernTamilNadulastyear. But the man himself says he is SHYAMLAL YADAV NEW DELHI, OCTOBER 9 TRANSACTIONS of co-operative giant Indian Farmers Fertiliser Cooperative Limited (IFFCO) with three companies based in Dubai, Switzerland and Singapore, were redflagged by Deutsche Bank Trust Company Americas (DBTCA) to the US financial watchdog, Financial Crimes Enforcement Network, an investigation by The Indian Express has shown. TheFinCENFiles,a global investigation led by the International Consortium of Investigative Journalists and BuzzFeed News, scrutinised over 2000 Suspicious Activity Reports filed to FinCEN by banks andfinancialinstitutionsforsuspected money laundering or financial fraud. In July 2014, an SAR filed by DBTCA flagged 14 transactions of IFFCO involving transfers and remittances worth $18.46 million. The SAR cited “negative information found on the MD and CEO of Indian Farmers Fertiliser Cooperative Limited for potential money laundering.” These transactions involved IFFCO;itsDubaisubsidiaryKisan International Trading FZEandcommodities trading companies in SwitzerlandandSingapore. Some transaction details indicated the payments “were for subscription fee (but) DBTCA was unable to confirmthecommercial purpose of any of these transactions.” The SAR mentioned a complaintbyBJPMPNishikantDubey to then Prime Minister Manmohan Singh accusing IFFCOMDandCEOUdayShankar Awasthiof “financialfrauds,andsiphoning of money and money laundering activities.” CONTINUED ON PAGE 2 ELGAR PARISHAD CASE: ACCUSED OF MAOIST LINKS Nobel Peace Prize winner WFP’s As Kerala sees spike in India link: PDS reforms, rice ATMs Covid cases, minister THE UNITED Nations' World Food Programme (WFP), which has been working in India since 1963,atatimewhenthecountry was battling food shortages, has been awarded the 2020 Nobel Peace Prize. The Norwegian Nobel Committee said the WFP, which provides food assistance to millions across the world, had acted "as a driving force in efforts to prevent the use of hunger as a weapon of war and conflict". InIndia,WFPhasbeenworkingcloselywiththegovernment, carrying out reforms in the IFFCO denies transactions, says CEO, MD not directly involved in procurement ANEXPRESS INVESTIGATION GARGI VERMA "SHE WAS crying and scared. I never thought that would be the last time I was seeing her alive," said the 15-year-old, recalling the events of July 18, when her 18-year-old friend was allegedly gangraped at a wedding in Kondagaon district of Chhattisgarh. A day later, the 18-year-old killed herself. With the case of alleged gangrape coming to light over two months after the teenager's death,onOctober6,policeregistered an FIR under IPC sections 365 (kidnapping) 376D (gangrape),306(abetmentof suicide) and506(criminalintimidation), and arrested six of the seven accused, two of them minors. The body,whichwasexhumedanda post-mortem procedure done, was buried again on Friday. The 18-year-old's parents, farmers who belong to theGond tribe, told The Indian Express that on July 18, they had left for a wedding, 10 km from their village, leaving behind their five children, including the 18-yearold, their eldest. "She had not shownanyinterestincomingfor the wedding... we didn't know she would change her mind and come later," her father said. Recountingthe eventsof July 18, the 15-year-old said that four of them, including the 14 transactions of IFFCO, its CEO, red-flagged to US watchdog more of a teacher these days, wearing the traditional veshti and moving around on a bicycle in Mathalamparai. What started six months ago as home tuition for three children that took up “about twothree hours” of his spare time, Vembu says he now has four teachers and 52 students in the fold, mostly children of farm labourers from the village. The53-year-oldisnowallset to take this “lockdown experiment” to the next level: “a rural schoolstart-up”thatwillprovide freeeducationandfood,amodel Sridhar Vembu at Mathalamparai village near Tenkasi where he set up a new office and home in 2019. Express that doesn’t believe in marks or degrees or conventional affiliations for certificates, or “credentials” as he calls it. “This has become a serious project. I am also doing parttime teaching. We are trying to put it together as a model now...busy preparing papers, getting necessary approvals,” says Vembu, speaking to The Indian Express over phone from Tenkasi. He is clear though that his “start-up” will not seek affiliationwiththeCBSEoranyother conventional educational board. CONTINUED ON PAGE 2 Stan Swamy, Teltumbde, Navlakha among 8 named in NIA chargesheet SADAF MODAK MUMBAI, OCTOBER 9 THE NATIONAL Investigation Agency (NIA) filed its first chargesheetintheElgarParishad case on Friday against eight persons, nearly ten months after taking over the probe from Pune police. The agency claimed that the conspiracy related to the violence against Dalits in Bhima Koregaon on January 1, 2018, Gautam Navlakha (left); Stan Swamy was part of a "well chalked-out strategy", and spread across the country and beyond. Filed before the special court in Mumbai, the supplementary chargesheet,whichisover10,000 pages,isagainstJharkhand-based Jesuit priest and tribal rights activist Father Stan Swamy who was arrested on Thursday; professor Anand Teltumbde, activist Gautam Navlakha, who were arrested by the agency on April 14; DelhiUniversityassociateprofessor Hany Babu arrested on July 28; members of cultural group Kabir Kala Manch, Jyoti Jagtap, CONTINUED ON PAGE 2
Indian Express Limited is an Indian news media publishing company. It publishes several widely circulated dailies, including The Indian Express and The Financial Express in English, the Loksatta in Marathi and the Jansatta in Hindi.