Banks get Rs 12.44 lakh crore in old notes till Dec 10: RBI

Mumbai, Dec 13 (PTI) RBI today said banks have garnered Rs 12.44 trillion (Rs 12.44 lakh crore) in banned notes till December 10, while they have issued Rs 4.61 trillion to them since the demonetisation drive began 35 days ago.

"The old notes of Rs 500 and Rs 1,000, which have been returned to the Reserve Bank and the currency chest, amounted Rs to 12.44 trillion as of December 10," RBI Deputy Governor R Gandhi told reporters here.

The money that various banks have issued through their counters and ATMs since November 10 and up to December 10 stood at Rs 4.61 trillion, he added.

In volume terms the number stood at 21.8 billion pieces of notes of various denominations, of which 20.1 billion pieces were of Rs 10, Rs 20, Rs 50 and Rs 100. The number of higher denomination of new Rs 500 and Rs 2,000 notes stood at 1.7 billion, he said.

Hence, while the notes surrendered have risen by almost Rs 1 trillion, cash disbursal has risen only a little since December 7, when RBI had said that banks had issued Rs 4.27 trillion of new notes post demonetisation through ATMs and bank counters, the banned notes collected stood at Rs 11.55 trillion.

"The entire system is continuously gearing up for supporting the circulation of notes in the hands of the public. Daily, we are issuing more and more notes, getting it printed and issuing it and this will be a continuous affair.

The public are requested to freely use the notes that they have in their hands rather than hoard it," Gandhi said.

ExxonMobil's Tillerson is Trump's pick for Secretary of State

Washington, Dec 13 (PTI) Rex Tillerson, ExxonMobil CEO, was today tapped by US President-elect Donald Trump as his Secretary of State to "reverse years of misguided foreign policies" that weakened America's security and standing in the world, amid bipartisan concerns over the veteran oilman's close ties with Russian President Vladimir Putin.

"Rex Tillerson's career is the embodiment of the American dream. Through hard work, dedication and smart deal making, Rex rose through the ranks to become CEO of ExxonMobil, one of the world's largest and most respected companies," Trump said in a statement.

Among the most accomplished business leaders and international deal-makers in the world, 64-year-old Tillerson has spent his career protecting the jobs of his employees, who number over 70,000, the presidential transition team said.

Guiding operations around the world that include more than 200 offices, Tillerson knows how to manage a global organisation and successfully navigate the complex architecture of world affairs and diverse foreign leaders, it argued.

"As Secretary of State, he will be a forceful and clear-eyed advocate for America's vital national interests, and help reverse years of misguided foreign policies and actions that have weakened America's security and standing in the world," the statement said.

"His tenacity, broad experience and deep understanding of geopolitics make him an excellent choice for Secretary of State," Trump said, adding that he will promote regional stability and focus on the core national security interests of the United States.

"Rex knows how to manage a global enterprise, which is crucial to running a successful State Department, and his relationships with leaders all over the world are second to none. I can think of no one more prepared, and no one more dedicated, to serve as Secretary of State at this critical time in our history," Trump said.

Tillerson said he shares Trump's vision for restoring the credibility of the United States' foreign relations and advancing American national security.

"We must focus on strengthening our alliances, pursuing shared national interests and enhancing the strength, security and sovereignty of the United States," he said.

A native Texan Tillerson began his career at Exxon Company, in 1975 as a production engineer. He went on to become the company's CEO in 2006.

Like Trump, Tillerson has no formal foreign policy experience, but has built close relationships with many world leaders by closing massive deals across Eurasia and the Middle East on behalf of the world's largest energy company.

Tillerson's nomination could face intense scrutiny in the Senate due to his close ties with Putin. Trump, who during his presidential campaign praised Putin, wants to improve US' relationship with Russia which soured in 2014 when Kremlin annexed Crimea.

India hails World Bank decision on Indus treaty

New Delhi, Dec 13 (PTI) India today said World Bank's decision to temporarily halt two simultaneous processes to look into Indo-Pak dispute over Kishenganga and Ratle project confirms that pursuing the two concurrent processes could have rendered the Indus Water Treaty unworkable over time.

External Affairs Ministry Spokesperson Vikas Swarup said India remains fully conscious of its international obligations and is ready to engage in further consultations on the matter of resolving current differences regarding these two projects.

"The government had pointed out on 10 November, 2016 the legal untenability of the World Bank launching two simultaneous processes-- for appointment of a Neutral Expert as requested by India and establishment of a Court of Arbitration requested by Pakistan-- to adjudicate technical differences between India and a Pakistan on Kishenganga and Ralte projects.

"By temporarily halting both the processes now, the Bank has confirmed that pursuing the two concurrent processes can render the Treaty unworkable over time," Swarup said.

The World Bank's move to pause the process came nearly a month after India had strongly objected to the global body's "inexplicable" decision, saying going ahead with two separate mechanisms was "legally untenable".

Group President of World Bank Jim Yong Kim said,"We are announcing this pause to protect the Indus Waters Treaty and to help India and Pakistan consider alternative approaches to resolving conflicting interests under the Treaty and its application to two hydroelectric power plants." 

The pause was announced by Kim in letters to the finance ministers of India and Pakistan. It was also emphasised that the Bank was acting to safeguard the Treaty.

Under the Indus Waters Treaty, signed between India and Pakistan and also the World Bank in 1960, the World Bank has a specified role in the process of resolution of differences and disputes.

Rajinikanth turns 66; no celebrations due to Jaya's demise

Chennai, Dec 12 (PTI) Superstar Rajinikanth turned 66 today but there were no birthday bash for the actor on account of former Chief Minister J Jayalalithaa's December 5 demise.

However, a host of leaders and celebrities including Prime Minister Narendra Modi greeted him.

"Happy birthday @superstarrajini! Wishing you a long life filled with good health," Modi tweeted.

Amitabh Bachchan and Shah Rukh Khan also greeted the actor.

"It is Rajnikant's birthday on Dec 12th and we wish him greater glory happiness and good health," Bachchan wrote on his Twitter page and shared pictures of the two actors posing together.

Khan described the Tamil mega star as "coolest and greatest of them all."

"2 the coolest & greatest of em all. Wishing u health happiness & years of entertainment for us. Happy B'Day Thalaivaa," he said.

Rajinikanth's daughter called him the "greatest man I know.

"To the greatest man I know ... my #Father #ILoveYou #HBDSuperstarRajinikanth," she said and posted photos of her and her father.

DMK Treasurer and Tamil Nadu Opposition Leader MK Stalin and BJP state President Tamilisai Sounderrajan and a host of actors greeted the 'Kabali' through statements and on Twitter.

The actor had last week asked his fans not to celebrate his birthday on account of Jayalalithaa's death.

He had skipped birthday celebrations last year also on account of the torrential rains that sparked a deluge in Chennai, Kancheepuram and Tiruvallore districts.

India,Indonesia resolve to deepen cooperation to combat terror

The Prime Minister, Shri Narendra Modi and the President of Indonesia, Mr. Joko Widodo at the Joint Press Statement, at Hyderabad House, in New Delhi on December 12, 2016.

New Delhi, Dec 12 (PTI) India and the world's most populous Muslim nation Indonesia today decided to expand their defence and maritime security ties and resolved to effectively deal with terrorism, calling for "zero tolerance" towards it.

The two countries, among the very few fast growing large economies globally, also decided to boost bilateral trade and investment in areas of oil and gas, renewable energy, IT and pharmaceuticals, during talks between Prime Minister Narendra Modi and Indonesian President Joko Widodo.

The issue of South China Sea figured prominently in the talks and in a veiled message to Beijing, both sides asserted that the dispute must be resolved through peaceful means and without resorting to threat or use of force.

Two MoUs, one on providing for cooperation in youth affairs and sports and another on standardisation were signed.

A joint communique on combating illegal and unregulated fishing was also firmed up.

In his media statement, Modi said the talks focused on the full range of bilateral cooperation and that both countries agreed to prioritise defence and security cooperation, besides ramping up efforts to ensure safety and security of the sea lanes.

"As the world's most populous Muslim nation, Indonesia stands for democracy, diversity, pluralism, and social harmony. These are also our values. Our nations and societies have nurtured strong bonds of commerce and culture throughout our history," Modi, flanked by Widodo, said.

Asked whether India raised the issue of Indian national Gurdeep Singh, facing death sentence in Indonesia on drug charges, officials did not give a direct reply but said the matter is under judicial process in that country.

A joint statement said the two leaders condemned terrorism in all its forms and manifestations in the strongest terms, holding that there must be "zero tolerance" for acts of terror and that all states must deal with trans-national terrorism emanating from their territory by effective criminal justice response.

"Both leaders discussed the threat from global terrorism and other transnational crimes and resolved to significantly enhance bilateral cooperation in combating terrorism, terrorist financing, money laundering, arms smuggling, trafficking in human beings and cyber crime," it said.

Modi and Widodo called upon all countries to implement the UNSC Resolution 1267 (banning militant groups and their leaders) and other relevant resolutions designating terrorist entities, seen as an apparent reference to China blocking India's move to get Jaish-e-Mohammed chief Masood Azhar designated as a global terrorist by the UN.

The two leaders also asked all nations to work towards eliminating terrorist safe havens and infrastructure, disrupting terror networks and their financing channels and stopping cross-border terrorism,seen as a message to Pakistan.

Emphasising on the need to improve connectivity and encourage people-to-people contact, the two leaders also welcomed Indonesian airline Garuda commencing direct flights from Jakarta to Mumbai. .

Dilip Kumar turns 94, to celebrate birthday in hospital

Mumbai, Dec 11 (PTI) Legendary actor Dilip Kumar turns 94 on Sunday but he will have a low key birthday celebration in hospital where he is admitted following illness.

Kumar, who was admitted to Lilavati hospital in suburban Bandra on Tuesday after swelling on his right leg, is recovering well.

"He is resting now. He is in the ICU, but he is doing well, there is nothing to worry. Close family and friends have been visiting him since morning. We will cut the cake once he is awake. It will be a quiet birthday this time," his wife and veteran actress Saira Banu told PTI on Sunday.

"We are thankful to all the fans and media for their love and well wishes. He will be in hospital today, he is not getting discharged," she said.

Last year, Kumar had a quiet birthday celebration as a mark of solidarity to the victims of deluge in Chennai.

Born in Peshawar as Yousuf Khan, the actor adopted the screen name Dilip Kumar.

He made his debut in acting with "Jwar Bhata" in 1944 and went on to give memorable performances in films like "Mughal-e-Azam", "Ganga Jaumna", "Devdas", "Andaz, Babul", "Aan", "Amar", "Shaheed", "Naya Daur", "Madhumati", "Ram Aur Shyam", "Shakti"and "Mashaal" among others.

Kumar portrayed tragic roles through the 1940s, 50s and 60s in films like "Mela", "Devdas", "Dil Diya Dard Liya" and others, which gave him the moniker of 'Tragedy King of Bollywood'.

Later, he shifted to doing lighter roles in films like "Ram Aur Shyam", "Tarana" and "Kohinoor" and showed that he is equally good at comedy.

He was last seen on-screen in the 1998 film "Qila".

The thespian has been honoured with the Dadasaheb Phalke award in 1994 and the Padma Vibhushan in 2015 for his contribution to the Indian cinema.

The Pakistan government also honoured him with its highest civilian honour - Nishan-e-Imtiaz - in 1997.

Megastar Amitabh Bachchan, Shabana Azmi, Rishi Kapoor among other Bollywood celebrities took to Twitter to wish "the greatest actor" on his birthday.

"To the greatest.. Dilip Kumar.. on his birthday Dec 11, wishes prayers and duas for good health and happiness," Bachchan wrote.

Calling him the "Aakhri Mughal of the Hindi film industry", Azmi tweeted, "Salgirah mubarak @TheDilipKumar. You have been such an inspiration to millions. Respect.

Pak will get splintered into 10 if it does not mend ways :

Kathua (J&K), Dec 11 (PTI) Home Minister Rajnath Singh today accused Pakistan of "conspiring" to divide India along religious lines and warned the neighbouring country that it would be "splintered" into 10 nations if it failed to quell terrorism.

"Pakistan is conspiring to divide India on religious lines but it will not succeed. We were divided in 1947 on religious basis. We have not been able to forget that... All Indians are brothers, whether they are born from the womb of a Hindu mother or a Muslim mother," he said addressing a Martyrs' Day function in Kathua district.

Singh accused Pakistan of waging a proxy war against India.

"We want to live in peace with Pakistan but it has indulged in sponsoring a proxy war against India. Every Prime Minister of India wanted to mend relations with Pakistan but it did not understand the language of peace and attacked India four times. But our brave soldiers gave them a befitting reply." 

The Home Minister said Pakistan was waging the proxy war through terrorism, which is a weapon of the weak.

"Terrorism is the weapon of the weak and not the brave," he said.

"Pakistan came into existence after India got divided on religious lines but it could not keep itself united. In 1971, it got split into two and, if it does not mend its ways, it will get splintered into 10 pieces and India will have no role in it," he said.

Singh said terror groups ISIS had the whole world worried because of its activities but failed to spread its roots in India because of the Muslims.

"When the entire world is worried about ISIS, I can say it as the Home Minister of the country, as I know the reality that ISIS has not been able to spread its roots in India and the credit for this goes to the Muslims of the country, the followers of Islam," he said.

He said people might not know but when a member of somebody's family got radicalised, others came to him to seek his help to save the child from the clutches of the ISIS.

He also offered India's cooperation to Pakistan to help eradicate the menace of terrorism from its soil.

"If Pakistan is serious about eradicating terrorism but is incapable of doing that and wants cooperation, we are ready to help it eradicate terrorism from there," the Minister said.

Singh said India always wanted to have friendly relations with all its neighbours but Pakistan betrayed India and returned peace initiatives with terrorist attacks.

For a week in US, Pak PM's top aide still to meet Trump team

Washington/Islamabad, Dec 11 (PTI) Pakistan prime minister's top foreign policy aide Tariq Fatemi, who has been in the US for a week for 'familiarisation meetings' with President-elect Donald Trump's transition team, is yet to meet anyone from the incoming administration, a media report said today.

Fatemi, special assistant on foreign affairs to Prime Minister Nawaz Sharif, however, has held meetings with senior officials of the outgoing Obama administration and US lawmakers and is hoping to meet some members of the incoming Trump administration early this week, Dawn newspaper reported.

Such meetings are highlighted in press releases issued by the Pakistan embassy, which claims that these talks have helped create a better understanding of Pakistan s position on various issues, it said.

So far the only comment from the US side came from the State Department's deputy spokesman Mark Toner who said that US officials did discuss "a range of bilateral and regional" issues with Fatemi and these included "regional stability and counter-terrorism cooperation".

But he did not say if the meetings helped resolve the differences that have strained Pakistan's relations with the United States, the report said.

Neither the Pakistan embassy nor the Trump team have said anything about Fatemi's meetings/probable meetings with the officials of the incoming administration, it said.

Earlier this week, Fatemi visited New York, from where US President-elect Trump is conducting his business, but Pakistani diplomats said he was only there to meet senior UN officials and returned to Washington the same day.

A senior Pakistani diplomat, when asked why Fatemi had not yet met members of the Trump team, was quoted by the paper as saying that "protocol did not allow him to meet them in his official capacity" but he and the embassy were trying to arrange some informal meetings.

One such meeting, with Stephen Hadley, the former Bush administration's national security adviser, may happen this week, the report said.

The embassy official claimed that Fatemi has also been "very active on telephone," speaking to the Trump team. "We are reaching out to the 'influentials' not 'probables,' the paper quoted the official as saying while explaining why Fatemi had not yet met Trump officials although he has been in the US for almost a week now.

"We are trying to meet the people who have influence and are feeding into the transition process," the official said.

While the Pakistan embassy insists that it would not be appropriate for Fatemi to hold formal meetings with officials who are not in the government yet, officials from other countries are doing exactly that, the paper noted.

Senior officials and leaders from across the globe are visiting New York for meeting Trump officials, it said.

Govt to amend RBI Act to annul old Rs 500/1000 currency notes

New Delhi, Dec 11 (PTI) The government is likely to amend the Reserve Bank of India Act to extinguish the validity of Rs 500 and Rs 1000 printed before November 9 and a reference to this effect would be made in the upcoming Budget.

As part of the demonetisation process, there would be a law to make Rs 500/1000 notes invalid and it can be made effective from March 31, sources said.

"In 1978, when the currency was banned, the law to annul the validity came ahead. This time the government acted under 26 (2)," sources said.

As per RBI Act Section 26 (2), the central government, on the recommendation of the Central Board of RBI, may by notification in the Gazette of India, declare that, with effect from such date as may be specified in the notification, any series of bank notes of any denomination shall cease to be legal tender.

Asked about the amount of money which did not get into the system, sources said, it would add to bottomline of the RBI and it would be in a position to pay the government in the form of higher dividend or special dividend.

Banks have received Rs 12 lakh crore demonetised currency notes as against Rs 15.5 lakh crore. The government expects Rs 13 lakh crore to come back to banking system.

Higher dividend from the RBI due to cancellation of Rs 500/1000 may not be applicable until the RBI law is amended.

Last week, Reserve Bank Governor Urjit Patel had said it would not have any automatic impact on the central bank's balance sheet as per the existing law.

"Actually, the withdrawal of legal tender characteristics status does not extinguish any of RBI's balance sheet.

Therefore, there is no implication on the balance sheet as of now. The question of a special dividend automatically does not arise as of now," Patel had said.

RBI has issued currency notes worth over Rs 4.27 lakh crore to public through banks and ATMs following the demonetisation of old high value bills.

Consequent to the announcement of withdrawal of legal tender status of banknotes of Rs 500 and Rs 1,000 from the midnight of November 8, 2016, the central bank made arrangements for exchange and/or deposit of such notes.

Long queues for cash withdrawal have been witnessed outside banks and ATMs all over the country since November 10.

The bank were kept closed on November 9, the day demonetisation came into effect.

PM Modi greets President on birthday

New Delhi, Dec 11 (PTI) Prime Minister Narendra Modi today greeted President Pranab Mukherjee on his 81st birthday, saying the country is proud to have such a President whose wisdom has benefited the nation.

"Birthday wishes to Rashtrapati Ji. His tremendous experience & wisdom has benefited the nation greatly. I pray for his long & healthy life," he said in a tweet.

"Pranab Da always puts India's interest above everything.

We are proud to have such a well read & knowledgeable President," he said