Today's Hot Stories - December 20, 2012
10 Headlines for Today(1) Gang-rape victim stable, alert: Doctors
(2) Modi set for hat-trick; Congress ousts BJP in HP
(3) Park elected South Korean President
(4) ITA to hold Darjeeling tea auction for charity
(5) Reliance Power stake sale nets Rs. 1,500 cr
(6) Basic minimum capital deposit for stock brokers up
(7) Sunrisers, new entity in IPL
(8) Football: Cannavaro banned, Napoli lose two points in corruption trial
(9) Hockey: HIL to start on Jan. 14, Delhi faces Punjab in opener
(10) Silent stroke can cause Parkinson’s
5 Stories for Today
(1) Quota bill faces obstacle from BJP, SP in Lok Sabha
(2) Security Council members slam Israel over 'illegal' settlements
(3) New Companies Bill mandates CSR spending
(4) Infosys among key outsourcing firms in China
(5) RBI to speed up process for issuing new banking licences
(1) Quota bill faces obstacle from BJP, SP in Lok Sabha
The controversial bill for quota in government job promotions on Thursday faced obstacle in Lok Sabha with BJP and Samajwadi Party opposing its consideration for different reasons.
The House witnessed high-drama during which it was adjourned four times soon after the Constitution (117th Amendment) Bill, 2012 was moved for consideration by Personnel Minister V Narayanasamy at around noon.
Members of SP, which is opposed to quota in promotions, created pandemonium by shouting full-throated slogans and rushing to the Well, even as Congress member P L Punia rose to speak in support on the Bill.
In the midst of the din, senior BJP leader L.K. Advani was on his feet seeking to speak on the subject, but was not allowed as Punia kept on speaking. This angered BJP members who termed it as an insult to the main opposition.
After two brief adjournments, when the House reassembled at 1.15 p.m., BJP members also rushed into the Well raising slogans ‘pratipaksh ka aisa apmaan, nahi chalega (insult of the opposition will not be tolerated)’
Amid the pandemonium, Congress members came into the aisle shouting slogans in support of the bill.
Incidentally, Narayanasamy did not read from a copy of the bill on Thursday and spoke extempore. The bill was snatched from him by SP member Yashvir Singh on Wednesday when he was introducing it.
The BJP, which had supported the legislation in the Rajya Sabha, apparently wanted time to consider it arguing that it was not the original one as amendments had been made in it.
During the adjournment period, Parliamentary Affairs Minister Kamal Nath and Science and Technology Minister S Jaipal Reddy were seen talking to Advani and Leader of the Opposition Sushma Swaraj.
Both ministers then briefed Congress President Sonia Gandhi on their discussion with the BJP leaders.
On the other hand, Telecom Minister Kapil Sibal and Congress leader Girja Vyas were seen talking to SP chief Mulayam Singh Yadav who appeared unrelenting on his opposition to the bill. Vyas and Sibal too were seen speaking to Gandhi.
BJP members were also requesting Yadav to control his members so that Advani could speak. As the appeals fell on deaf ears, Ananth Kumar (BJP) was heard warning Yadav that he would also not be allowed to speak next time.
Amid persistent uproar, the Speaker adjourned the House till 2 PM. When the House reassembled, similar scenes were witnessed and Deputy Speaker Karia Munda adjourned the House for another 30 minutes.
(2) Security Council members slam Israel over 'illegal' settlements
India was joined by all members of the 15-nation UN Security Council except the US to condemn Israel’s announcement of new construction activity in Palestinian territories and demand immediate dismantling of the “illegal” settlements.
UN Secretary General Ban Ki-moon also expressed his deep concern by the heightened settlement activity in West Bank, saying the move by Israel “gravely threatens efforts to establish a viable Palestinian state.”
India’s Permanent Representative to the UN Ambassador Hardeep Singh Puri, in his capacity as Coordinator of the Non-Aligned Movement (NAM) caucus of the Security Council, told reporters here after a UNSC briefing on the situation in the Middle East that there was an attempt in the Council to bring a resolution on the issue.
“It (resolution) did not see the light of the day” even though it had 14 votes in favour but “one permanent member” was against it,” Mr. Puri said without naming the US, which has veto power in the Council.
Making a statement on behalf of NAM, Mr. Puri said the grouping “condemns the recent provocative announcements by Israel, the occupying Power” to construct 3,000 settlement units on confiscated Palestinian land in an area east of occupied Jerusalem.
The new construction activity, widely known as the ‘E-1’ plan is in addition to the announcement by Israel that another 3,600 settlement units would be constructed in occupied territories.
“NAM rejects these illegal actions, which have deliberately intensified after the international community’s reaffirmation of its support for the two-State solution with the General Assembly’s adoption of resolution which, accorded to Palestine the status of non-member observer State in the United Nations,” Mr. Puri said.
“NAM calls on Israel to immediately cease its settlement activities and to abide by all of its legal obligations,” he said.
NAM, whose members include Togo, South Africa, Morocco, Pakistan, Guatemala, Colombia and Azerbaijan, stressed that Israel’s settlement activities constitute grave breaches of international humanitarian law and violate numerous United Nations resolutions.
Separately the India, Brazil and South Africa grouping (IBSA) also voiced their grave concern over the continuing settlement activities by Israel, which it said is “not only illegal under international law but also a major obstacle to peace efforts.”
“We reiterate our call on Israel to stop settlement activities. Freezing settlement construction is, however, not enough. Settlements must be dismantled and the occupation must end. We condemn the violence by settlers against Palestinians and their property.”
“Action is required against those indulging in such violence. We are also deeply disturbed by evictions, demolitions of Palestinian homes and other measures that alter the realities on the ground,” IBSA said.
The grouping said the Security Council has an “irreplaceable” role to play in the peace process but the promotion of peace in the Middle East cannot be delegated to third parties.
IBSA urged the Security Council to call for a complete halt to the settlement activity.
“The granting of Observer State status to Palestine by the General Assembly, with unequivocal support, made it clear that there is no alternative to the two-State solution in the quest for peace in the Middle East.
“The IBSA countries call on both sides to resume negotiations on the pending issues, with a view to the prompt realisation of the two-State solution, with a cohesive, secure, democratic and economically viable Palestinian State, living side by side in peace and security with the State of Israel,” the grouping said.
The UN Chief also voiced concern that the Middle East peace process is in a “deep freeze”.
He said Israel and Palestine seem “more polarised than ever, and a two-state solution is farther away than at any time since the Oslo process began in 1993.
“I call on Israel to refrain from continuing on this dangerous path, which will undermine the prospects for a resumption of dialogue and a peaceful future for Palestinians and Israelis alike.
“Let us get the peace process back on track before it is too late,” Mr. Ban told reporters at his year-end press conference.
Mr. Ban said he has been deeply involved in facilitating the ceasefire between Israel and Hamas and has been urging the parties not to provoke each other.
He said the announcement by Israel of new construction activities is a “near fatal blow to a very fragile Middle East peace process.”
While it is encouraging that the ceasefire is holding, “it is very fragile, and therefore either side should not take any provocative action which may derail this very fragile process,” Mr. Ban said.
Britain’s Permanent Representative to the UN Mark Lyall Grant read a statement on behalf of the European Union saying that the viability of the two-state solution, which is key for Israel’s long-term security is threatened by the systematic expansion of settlements.
He said that France, Germany, Portugal and the UK believe that the viability of the two-state solution is at stake and must be preserved.
(3) New Companies Bill mandates CSR spending
With the Lok Sabha giving its approval for the Companies Bill, 2011, Minister of State for Corporate Affairs Sachin Pilot said the aim of the legislation was to make India a safe and attractive destination for investment and to do away with ‘inspector raj’ on companies.
“The aim is to protect the interests of employees and small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through ‘inspector raj’ and make India an attractive and safe investment destination,” Mr. Pilot, who put up a spirited show during the passage of the Bill, said. The passage of the Bill is another important part of the reforms process being undertaken by the UPA II government.
Highlighting the features of the Bill, he said special courts would be set up for speedy trials, an assurance to investors that cases would not linger on. Underlining the need for such a law, Mr. Pilot said India would become the first country to mandate corporate social responsibility (CSR) through a statutory provision. “While framing rules for the legislation, the government will take in to confidence MPs and other stakeholders, like NGOs. It’s an evolving idea. We will make compliance easy,” he said.
Mr. Pilot said companies should voluntarily engage in CSR and not fear that the legislation amounted to return of ‘inspector raj’. Under the new legislation, companies will be encouraged to create employees’ welfare fund. “Severity of law is not deterrent; it is surety which is deterrent. The companies may engage in promoting education, reducing child mortality and any other matter they feel can contribute for social welfare,” he added.
Disapproving of vulgar display of wealth, Mr. Pilot said the law provided that remuneration of a director of a company should not be more than 5 per cent of the net profit. Under the new law, the CSR spending would be the responsibility of companies like their tax liabilities. The Bill, with 470 clauses, seeks to make CSR spending compulsory for companies that meet certain criteria. Firms having Rs.5 crore or more profits in the last three years have to spend on CSR activities. One of the major proposals is that companies have to mandatorily spend 2 per cent of their average net profit for CSR activities. The changes, once in place, would amend the Companies Law that has been in force since 1956.
If companies are unable to meet the CSR norms, they will have to give explanations. In case, the companies are not able to do the same, they have to disclose reasons in their books. Otherwise, they would face action, including penalty. The new legislation also limits the number of companies an auditor can serve to 20 besides bringing more clarity on criminal liability of auditors. There are proposals for annual ratification of appointment of auditors for five years and introduction of a new Clause related to offence of falsely inducing banks for obtaining credit. The legislation mandates payment of two years’ salary to employees in companies which wind up. This liability would be overriding.
(4) Infosys among key outsourcing firms in China
China has named Infosys in the list of 100 key liaison service outsourcing companies, making the IT major the only Indian company to get this recognition.
Infosys was included in the list as a result of its well- rounded portfolio of capabilities, exemplary performance and strong growth in China, the city-based company said in a statement.
Service outsourcing has been identified as a key industry to be developed in China. The Ministry of Commerce is the designated governing body for this industry.
Infosys China has operations across Shanghai, Beijing, Dalian, Hangzhou and Jiaxing and has more than 3,300 employees.
(5) RBI to speed up process for issuing new banking licences
‘First the guidelines on banking licences should be in place’
A day after the Lok Sabha passed the Banking Laws (Amendment) Bill, RBI Deputy Governor K. C. Chakrabarty, on Wednesday, said the process for issuing new banking licences would be expedited.
“The process will be expedited... I don’t think, it should take much time,” Dr. Chakrabarty told reporters on the sidelines of an event organised by IDBI Bank here. He, however, did not give a timeframe.
Voting rights
Referring to issuing of licences to corporates, the Deputy Governor said first the guidelines on banking licences should be in place.
Among other things, the Bill seeks to raise the voting rights of retail/minority investors in private sector banks to 26 per cent from 10 per cent. The Bill also allows the RBI to supersede boards of private sector banks and increase the cap on voting rights of private investors in public sector banks to 10 per cent from the present one per cent.
Changes brought by the new Bill will enable the RBI to issue new banking licences.
Replying to a question whether the RBI is comfortable with the fact that Competition Commission of India will regulate mergers and acquisitions in the banking space, Dr. Chakrabarty said, “This law is approved by Parliament and in a parliamentary democracy, what Parliament says is supreme. So, I can’t say as an institution that I am uncomfortable.”
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