BSE to auction investment limits for Rs 4,046-cr govt bonds

New Delhi, Jun 5 (PTI) Leading stock exchange BSE will auction tomorrow investment limits for overseas investors for the purchase of government debt securities worth Rs 4,046 crore.

The auction will be conducted on BSE's e-bidxchange platform from 1530 hrs to 1730 hrs, after the close of market hours.

The debt auction quota gives overseas investors the right to invest in the debt, up to the limit purchased.

"Live bidding session for allocation of debt investment limits for FII/FPI/sub accounts shall be conducted on Monday, June 6, 2016, on exchange's 'ebidxchange' platform," BSE said in a circular.

A mock bidding session was conducted on Friday in this regard.

Last month, the government debt securities witnessed lukewarm response in an online auction after months of over-subscription. It had attracted bids worth Rs 2,957 crore from foreign investors as against securities to the tune of Rs 3,340 crore put on offer.

To boost inflows of foreign funds, the limit for overseas investors in central government was hiked to Rs 1.4 lakh crore from April 4, and it will be further increase to Rs 1.44 lakh crore from July 5. Earlier, the limit was Rs 1,35,400 crore.

India, Qatar ink 7 agreements to boost cooperation

The Prime Minister, Shri Narendra Modi and His Highness Sheikh Tamim Bin Hamad Al Thani witnessing the signing of agreements to strengthen India-Qatar ties, in Doha, Qatar on June 05, 2016.

Doha, Jun 5 (PTI) India and Qatar today signed seven agreements, including one on finance intelligence to check money laundering and terrorism financing and another to woo foreign investment in the infrastructure sector from the gas-rich Gulf state.

Cooperation and investment in areas of skill development and education, health, tourism and sports between the two countries were the other agreements signed by Indian and Qatar officials in the presence of Prime Minister Narendra Modi and Emir Sheikh Tamim Bin Hamad Al Thani.

Official talks were held between Modi and Seikh Tamim for multi-sectoral partnership and strengthening of Indo-Qatar ties following which the agreements and Memorandums of Understanding (MoUs) were signed on the second day of the Prime Minister's visit here.

An MoU was signed between Qatar Investment Authority and External Affairs Ministry for investment in National Investment and Infrastructure Fund between the two countries that would facilitate foreign investment from the gas-rich Gulf state.

An MoU signed between Finance Intelligence Unit India (FIU-IND) and the Qatar Financial Information Unit (QFIU) would help in tracking money flow and investment from Qatar to India. It would also help authorities to safeguard against money laundering, terrorism financing and other economic offences.

An agreement was also signed between the two countries on cooperation and mutual assistance in custom matters besides an MoU on cooperation in tourism.

Modi was accorded a ceremonial guard of honour at the Emiri Diwan that was followed with official bilateral talks between the two leaders. .

Terrorism should be addressed through international cooperation: Vice President

The Vice President, Shri M. Hamid Ansari being bid farewell by the Prime Minister of Tunisia, Mr. Habib Essid, in Tunis, Tunisia on June 03, 2016. 

Concludes five-day official visit to Morocco

The Vice President of India, Shri M. Hamid Ansari has said that the terrorism should be addressed through international cooperation including bilateral efforts. He was interacting with the media delegation onboard Air India One on his way back to India from Tunisia after concluding the five-day visit to Morocco and Tunisia, today. The Vice President further said that the visit to Morocco and Tunisia was very fruitful and that had very good discussions with both countries on vast area of issues including terrorism.

With Tunisia, the Vice President said that both countries have agreed to rejuvenate the relationship and focus on areas which have been identified. There will be a sharper focus on these issues when the Tunisian Foreign Minister visits India later this year in a Joint Commission, he added. He further said that there is no difficulty in the political side as they are very supportive on international fora. 

The Vice President said that both countries are major victims of terrorism and they were absolutely in agreement that this menace could be addressed with international cooperation including bilateral discussions.

The Vice President said that during the visit, the focus was also on trade and technology and through Morocco and Tunisia, some of our new initiatives in Africa have received attention and certain triangular tie-ups could take place. All in all, the reception was very warm and friendly, he added.

Reacting to a question on terrorism, the Vice President said that each country has to fight its own battle on terrorism because terrorism is 'international'. Counter terrorism should also have its international dimensions and sharing the information on a timely basis is critical, he added.

On a question on the unemployment in these countries, the Vice President said that they are very much aware that their young people are having university degrees and there are no jobs. There is a complete disconnect between academic qualification and the requirements of the job market, he added. He further said that our contribution can be doing more business with them and offer more employment as there are some Indian companies doing well there. These countries have a great potential and also a role to play in developing tourism, he added.

India to stand by Afghanistan despite all odds: PM

The Prime Minister, Shri Narendra Modi and the President of the Islamic Republic of Afghanistan, Mr. Mohammad Ashraf Ghani, at Ghazi Amanullah Khan Hall for the joint Inauguration of Salma Dam, in Herat, Afghanistan on June 04, 2016

Herat, Jun 4 (PTI) Unfazed by terror attacks on its missions and barriers of politics and geography, India will continue to extend cooperation in war-torn Afghanistan, Prime Minister Narendra Modi asserted today after dedicating a Rs 1,700 crore dam in strategically vital Herat province.

Modi said other countries may have a "sunset clause" but India's ties with Afghanistan remain "timeless".

"Our resources may be modest, but our will is boundless.

For others, their commitments may have a sunset clause, but our relationship is timeless. We face barriers of geography and politics, but we define our path from the clarity of our purpose," he said in an address after inaugurating the Afghan- India Friendship Dam along with President Ashraf Ghani.

Modi hailed the people of Afghanistan for denouncing terrorism and said division among them will only help those seeking to "dominate" the nation from outside.

"It was a war not of Afghan making, but it was one that stole the future of an entire generation of Afghans," the Prime Minister said, adding that the brave Afghan people are today sending a message that the forces of "destruction and death, denial and domination" shall not prevail.

When Afghanistan succeeds in defeating terrorism, the world will be "safer and more beautiful", he said.

The dam, earlier known as Salma Dam, has been built by India at a cost of Rs 1,700 crore on river Harirud in Chist-e- Sharif in western Herat neighbouring Iran. It will irrigate 75,000 hectares of land and generate 42 MW of power.

"This dam has not been built by bricks and mortar, but by the faith of our friendship and the valour of Afghans and Indians. And, at this moment of pride, we also stand in grief and gratitude for lives sacrificed so that Afghan people will have a future they so richly deserve and so deeply desire," Modi said.

Resolving to stand by Afghanistan, the Prime Minister said India's cooperation will extend to "every part" of the war-torn country and that the partnership will benefit every section of Afghan society.

"In your clear eyes, I saw the deep well of affection for India. In your smiles, I saw the joy of this relationship. In the firmness of your embrace, I felt the trust in our friendship," Modi said.

In his around 25-minute-long speech, Modi touched upon the peace process in Afghanistan, the massive terrorist attack on Indian Consulate in Herat and reconstruction activities in that country.

"When our people are under attack, the brave Afghans guard us as their own. They put themselves in the line of fire so that their Indian friends are safe. This is the nobility of your heart and the strength of your friendship. I have seen this from the moment I assumed office as Prime Minister.

"For on that day, when terrorists launched a massive attack on our Consulate in this city of Herat, the heroic efforts of Afghan soldiers, and of our personnel, saved many lives and prevented a big tragedy," he said, referring to the 2014 attack on the Indian mission here. .

Indo-B'desh border will be fenced by Dec: Gowda

Kohima, Jun 3 (PTI) The fencing of the India-Bangladesh border would be completed by this year end and not a single individual be allowed to illegally cross either side, Union Minister for Law and Justice D V Sadananda Gowda said today.

Interacting with reporters at the Raj Bhavan here, Gowda said, "A major initiative has been taken since the last six and a half decades in fencing the border, even to the extent of constitutional amendment being made on both sides."

The Union minister is in the state since yesterday in connection with the second anniversary celebration of the BJP-led NDA government.

He said the fencing would be completed by the end of December this year to plug any illegal infiltration and immigration on either side without proper passport in future.

"Bangladesh infiltration will be stopped within a very short period," he said.

Maintaining that safety and security of the country has been the prime concern of the government, he said Prime Minister Narendra Modi held the vision that the boundaries across the country, be it with China, Pakistan or Bangladesh should be properly fenced.

Reaffirming that the two major initiatives of the BJP-led NDA government under Modi is "good governance" and "development", he said in the last two years there has been no charge of corruption, scam or scandal against the ministers.

He claimed that the NDA had revived 85 major stalled projects, while the government was in the process of providing electricity to 18,000 villages throughout the country. So far nearly 7,000 villages have been covered, he said.

Maintaining that cooperative federalism was one of the important areas of good governance, he said the Centre had adopted the policy of devolution of funds of up to 42 per cent to the state government so that the states could plan for themselves and take forward developmental activity.

Gowda said the development of the northeast has been the prime focus of the Prime Minister for which a separate ministry has also been formed.

PM Modi to visit US, Mexico, Afghanistan as part of 5-nation tour: 6 things on his agenda

PM Modi will embark on a five-nation visit from June 4, which will cover Afghanistan, Qatar, Switzerland, the US and Mexico. Here are the top 6 things on his agenda.
PM Narendra Modi is scheduled to visit Herat on Saturday to inaugurate the Salma Dam. (PTI Photo)

Prime Minister Narendra Modi will embark on a five-nation visit from June 4, which will cover Afghanistan, Qatar, Switzerland, the US and Mexico. Here are the top 6 things on his agenda:

1) Inauguration of Salma Dam: PM Narendra Modi is scheduled to visit Herat on Saturday to inaugurate the Salma Dam. At over $275 million, this is the most expensive of India’s infrastructure projects in the region and is expected to generate 42 MW of electricity for the rapidly growing city of 435,000 and irrigate some 75,000 hectares.

2) Extensive talks with Emir of Qatar Sheikh Tamim bin Hamad Al-Thani:During the two-day visit to energy-rich Qatar, Modi will hold talks on a range of bilateral issues including ways to further boost economic ties, particularly in the hydrocarbon sector.

3) Talks with Switzerland’s President Johann Schneider-Ammann: In Switzerland, the Prime Minister will hold talks with the Swiss leadership, and is likely to seek cooperation to unearth black money accounts of Indians in Switzerland which was a promise made by him during elections in 2014. According to sources, the two countries are working on finalising an arrangement that could pave the way for automatic exchange of information on tax-related issues.

4) Meeting with Barack Obama: PM Modi will travel to the US on June 7 at the invitation of the President, with whom he will review the progress made in key areas of defence, security and energy.

5) Addressing Joint Meeting of the US Congress: During his stay, he will also address a Joint Meeting of the US Congress.

6) Eyeing trade and investment tie ups with Mexico: On June 8, at the invitation of Mexican President Enrique Pena Nieto, PM would be visiting Mexico. The main objective of Modi’s visit would be to carry forward the momentum in the bilateral relations and discuss cooperation in areas such as space, energy, agriculture and science and technology among others.

(With inputs from PTI)

Joint statement of India-Singapore after Defence Ministers’ Dialogue

The Defence Minister Shri Manohar Parrikar is on a three-day visit to Singapore from June 03, 2016 for his introductory visit and to attend the 15th Shangri-La Dialogue. Shri Parrikar today met the Minister for Defence of Singapore Dr. Ng Eng Hen to co-chair the inaugural Singapore-India Defence Ministers’ Dialogue (DMD).

A joint statement issued after the DMD is as follows:-

“Dr Ng and Mr Parrikar commended the long-standing defence ties between Singapore and India, and noted the DMD would take the relationship to new heights.

Both Ministers welcomed the growth in the defence relationship since the signing of the Defence Cooperation Agreement (DCA) in 2003 and the revised DCA in 2015. Defence cooperation had been identified as a key sector under the India-Singapore Joint Declaration on Strategic Partnership signed during the visit of Prime Minister of India Mr Narendra Modi to Singapore in November 2015.

The two Ministers noted that their bilateral defence cooperation has been longstanding. The two navies conducted the first Singapore-India Maritime Bilateral Exercise (SIMBEX) in 1994. SIMBEX has grown more ambitious over the years, incorporating the Republic of Singapore Navy’s Archer-class submarine and the Indian Navy’s Kamorta-class corvette and P-8I aircraft for the first time in May 2015.

The two air forces have also conducted 11 bilateral exercises since 2004, while the two armies have conducted joint artillery and armour exercises since 2005.

The high degree of complexity of the bilateral exercises between all three Services of the Singapore Armed Forces (SAF) and the Indian Armed Forces reflects the growing confidence as well as mutual respect for each other’s professional capabilities. Both Ministers committed to further enhancing the scale and scope of bilateral exercises.

Dr Ng thanked Mr Parrikar for India’s strong support for the SAF’s training in India, covered under the ambit of bilateral agreements for Air Force and Army training. Both sides agreed to work toward the renewal of both agreements in 2017 and 2018 respectively.

Both Ministers also commended the progress made in bilateral cooperation in defence R&D and technology. Under the India-Singapore Defence Technology Steering Committee, which was set up in October 2006, both sides have undertaken several joint research projects in a wide spectrum of mutually-beneficial areas, and are deepening cooperation in unmanned systems and soldier performance.

Singapore and India also convened the first meeting of their Defence Industry Working Group in May 2016. Both sides agreed to set up industry level working mechanisms to foster cooperation in aerospace, electronics and other areas of mutual interest. Both Ministers noted that new opportunities for industrial collaboration, including through Joint Ventures, have opened up due to India’s Make in India initiative.

Both Ministers reaffirmed India’s vital role in the security of the Asia-Pacific region, in particular through the ASEAN Defence Ministers’ Meeting (ADMM)-Plus platforms. Dr Ng thanked India for hosting the ADMM-Plus Humanitarian Mine Action and Peacekeeping Operations Exercise in March 2016, and for participating in the ADMM-Plus Maritime Security and Counter-Terrorism Exercise in May 2016 with one naval ship with embarked helicopter, Special Forces and infantry teams of over 200 personnel.

Both Ministers also emphasised the importance of international cooperation in tackling transnational security threats. In particular, both Ministers strongly condemned terrorism in all its forms, and renewed their commitment to cooperate in counter-terrorism efforts.

Both Ministers also emphasised their shared commitment to maintaining freedom of navigation in international waters, the right of passage and overflight, unimpeded commerce and access to resources in accordance with recognised principles of international law, especially the United Nations Convention on the Law of the Sea.

The two sides agreed on the need to evolve protocols and norms of behaviour in the air and maritime domains aimed at building confidence, defusing tensions and reducing the risks of miscalculations.

Dr Ng also thanked Mr Parrikar for India’s support for the Information Fusion Centre and the Changi Regional Humanitarian Assistance and Disaster Relief Coordination Centre.

Mr Parrikar extended an invitation to Dr Ng to visit India on mutually convenient dates to continue the bilateral ministerial dialogue. The invitation was accepted with pleasure”.

Exchange of terrorist screening information Arrangement between India and USA signed

The Union Home Secretary, Shri Rajiv Mehrishi and the Ambassador of the United States of America to India, Mr. Richard R. Verma exchanging the documents after signing the Arrangement between the authorised governmental agencies of the Government of India and the Government of the United States of America (USA) for exchange of terrorist screening information, in New Delhi on June 02, 2016.


An Arrangement between the authorized governmental agencies of the Government of India and the Government of the United States of America (USA) for exchange of terrorist screening information was signed here today. The Arrangement was signed by the Union Home Secretary, Shri Rajiv Mehrishi and Mr. Richard Verma, Ambassador of the United States of America to India.

As per this Arrangement, both sides shall provide each other access to terrorism screening information through the designated contact points, subject to domestic laws and regulations.

The Arrangement would enhance the counter terrorism cooperation between India and USA.

Govt to push reforms for 'more developed eco':FM

Osaka (Japan), Jun 2 (PTI) Enthused over encouraging GDP numbers, Finance Minister Arun Jaitley today said the government will push ahead with its reform agenda to retain the fastest growing large economy tag and help India move towards becoming "a more developed economy".

"For India to realise its full potential for the next few decades, India certainly needs to pursue its programme for economic growth more vigorously and it's only then by maintaining higher level of growth that we can attract best response as far as poverty alleviation is concerned," he said delivering a lecture at Osaka University here.

Notwithstanding an unsupportive global environment, India clocked a GDP growth of 7.9 per cent in the January-March quarter and 7.6 per cent for the entire 2015-16 fiscal on account of the government's pro-growth policies, he said.

Jaitley further said, "India will maintain this paramount position of fastest growing economy in the world. And if we did that we can present yourself as a society which evolves from an emerging economy and moves towards a more developed economy."

"And we have a pipeline of reforms still left over the next few years to be implemented and notwithstanding global slowdown and two years of bad monsoon, we have reached a situation where we still have the highest growth rate in the world," he said.

On future outlook, Jaitley said he wasn't sure if the world growth would be supportive, but monsoon rainfall in India this year promises to be better and that itself will push the growth.

"Our reform process I am confident is going to continue.

It had helped us in restoring the credibility of the economy and while restoring the credibility both domestic and international investors feel much more confident about investing in India. That has helped us," he said.

Jaitley, who arrived here on the second-leg of his six-day investor-wooing trip to Japan, said he has seen enthusiasm during his visit and various pension and sovereign funds as well as investors were "very seriously looking at India as a possible destination".

"We offer them much better returns and hopefully a combination of these factors are increasing domestic demand," he said.

BCCI set to allow Indian eves to play overseas leagues

 New Delhi, Jun 2 (PTI) After planning to introduce central contracts for India's women's cricketers, the BCCI is all set to give green light to the likes of Mithali Raj, Jhulan Goswami being allowed to play in tournaments like Women's Big Bash League (WBBL).

"India's women cricketers can now play in overseas leagues in Australia and England, subject to their contracts being approved by the BCCI. The decision, taken during a meeting of the BCCI's women's cricket committee on Wednesday, paves the way for India's players to take part in tournaments such as the Women's Big Bash League in Australia and the Women's Super League in England," ESPNCricinfo stated.

However BCCI's announcement may have come too late, however, for Indian participation in the inaugural WSL, which will be held this year from July 30 to August 14.

The BCCI had yet to decide on the issue when the ECB sent a letter to all Full Members seeking their permission to enlist players. The ECB signed up 18 overseas players - from Australia, New Zealand, South Africa and West Indies - and unveiled its final squad lists in April.