No regulatory easing for financial sector post covid-19: RBI Governor

Agencies
August 27, 2020

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New Delhi, Aug 27: Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that after containment of spread of the novel Coronavirus, the financial sector will have to return to its normal operations on their own and without regulatory relaxations.

Addressing an online event, Das described the RBI's response to the situation arising out of the pandemic as "unprecedented" and said that the measures taken by the central bank are intended to deal with the specific situation of Covid and it cannot be "permanent".

"Post containment of Covid-19,... a very careful trajectory needs to be followed for orderly unwinding of the various counter-cyclical measures taken by the RBI and the financial sector should return to normal functioning without relying on the regulatory relaxations and other measures as the new norm," he said.

Calling for reforms in the banking sector, Das said that despite several reforms in the banking sector since its nationalisation, lot more needs to be done.

He was of the view that with change in time, the nature of reforms needs to be reconfigured.

"The current steps towards consolidation of public sector banks in line with the Narasimham Committee recommendation is a step in the right direction. Indian banks this way can reap the benefits of scale and become partners in the newer business opportunities across the globe," said the RBI Governor.

Larger and more efficient banks, both in public and private sectors, can compete shoulder to shoulder with the global banks to get a decent space in the global value chains, he added.

He noted that in recent years, the business landscape of banks has undergone significant change and now banks need to look out for "sunrise" sectors while supporting those which have the potential to bounce back, citing the example of prospective business opportunities in the rural sector which remain unexplored despite efforts to support it.

"They need to look at start-ups, renewables, logistics, value chains and other such potential areas. The banking sector has a responsible role to play not only as a facilitator of growth of the economy but also to earn its own bread," Das said.

According to him, a complete relook at the business strategy and orientation by the banks is the immediate need of the hour.

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Agencies
May 9,2025

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The Ministry of Defence has urged media outlets, digital platforms, and individuals to refrain from live coverage or real-time reporting of defence operations and troop movements.

Citing the risks to operational success and personnel safety, the Ministry highlighted past incidents — including the Kargil War, the 26/11 attacks, and the Kandahar hijacking — where premature information disclosure had severe consequences.

"Under Clause 6(1)(p) of the Cable Television Networks (Amendment) Rules, 2021, only authorised officials are permitted to release updates during anti-terror operations," the Ministry stressed. It called for responsible reporting and greater sensitivity towards national security concerns.

Meanwhile, Defence Minister Rajnath Singh chaired a high-level review of the country’s security situation on Friday (May 9, 2025) at South Block in New Delhi, following the foiled large-scale drone strike launched by Pakistan on Thursday.

The meeting was attended by senior military leadership, including Chief of Defence Staff General Anil Chauhan, Chief of Army Staff General Upendra Dwivedi, Chief of Naval Staff Admiral Dinesh K Tripathi, Chief of Air Staff Air Chief Marshal Amar Preet Singh, and Defence Secretary RK Singh.

The security review comes in the aftermath of Operation Sindoor, in which Indian Armed Forces struck nine terror infrastructures across Pakistan and Pakistan-occupied Kashmir on Wednesday, prompting Pakistan’s attempted retaliation.

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News Network
May 11,2025

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Amid the ongoing border tension with Pakistan, the Punjab Police in India arrested two individuals on espionage charges. They allegedly leaked sensitive information and photographs of Army cantonment areas and Air Bases in Amritsar, said the police on Sunday.

The two persons were identified as Palak Sher Masih and Suraj Masih. They were arrested in a significant counter-espionage operation by the Amritsar Rural Police.

Director General of Police Gaurav Yadav wrote on X, "Malerkotla Police apprehends two individuals for their alleged involvement in espionage activities linked to a Pakistani official posted at the High Commission, New Delhi.

"Acting on credible intelligence, one suspect was arrested for leaking sensitive information regarding Indian Army movements to a Pakistan-based handler. Based on disclosures made during interrogation, a second conduit was also identified and taken into custody.

"Preliminary investigation reveals that the accused had been receiving payments through online transactions in exchange for classified information. They were in frequent contact with the handler and were involved in channeling funds to other local operatives as per his instructions. Two mobile phones have been recovered, and an FIR has been registered."

The police said further investigation will be undertaken as per established protocol, with a focus on tracing the financial trail and identifying additional operatives and linkages within the network.

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News Network
May 10,2025

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New Delhi, May 10: In a detailed joint briefing today, India’s defence and foreign ministries dismantled Pakistan’s claims of major strikes on Indian infrastructure and exposed Islamabad’s alleged attempts to escalate conflict along the border. Here's a clear breakdown of 12 crucial points made by Indian military officials:

1. Pakistan’s Claims Are False
The Indian government called Pakistan’s statements about destroying airbases, power grids, and cyber systems “completely false” and “state-sponsored propaganda.”

2. No Damage to Indian Airbases
Indian officials categorically denied Pakistani claims of hitting Sirsa, Suratgarh, and the S-400 radar base in Udhampur.

3. Pakistan Used Multiple Attack Platforms
Pakistan employed UCAVs (unmanned combat aerial vehicles), loitering munitions, long-range missiles, and fighter aircraft to target military and civilian sites.

4. Civilian Infrastructure Targeted
Pakistan struck schools and a Medicare centre near Indian Air Force bases in Srinagar, Awantipora, and Udhampur.

5. Over 26 Locations Attacked
India reported air intrusions and harassment attacks across 26+ locations from Srinagar to Naliya, along the Line of Control (LoC) and international border.

6. Limited Damage at IAF Bases
Minor damage occurred at four IAF stations: Udhampur, Patan, Adampur, and Bhuj — but all operations remain unaffected.

7. Heavy Cross-Border Shelling
Sectors like Kupwara, Baramulla, Poonch, Rajouri, and Akhnoor saw intense artillery, mortar, and small arms fire — all met with strong Indian retaliation.

8. Pakistan Moving Troops to Forward Areas – Signals Possible Escalation
The Indian Army observed significant Pakistani troop mobilisation toward forward posts along the LoC. This movement, described as “indicative of offensive intent,” suggests that Pakistan may be preparing for a wider military escalation. The Indian armed forces are on high operational alert, closely monitoring the situation and ready to respond to any provocation.

9. India’s Response: Swift, Measured, Targeted
In retaliation, India struck only military assets — radar stations, command centres, and storage sites — using precision air-launched weapons.

10. No Damage to Critical Indian Defences
Pakistan’s claims of destroying India’s S-400 systems, BrahMos base, and Chandigarh ammo depot were debunked with timestamped visual evidence.

11. Pakistan Trying to Spread Communal Discord
Indian officials accused Pakistan of fabricating stories to stoke communal unrest in India — calling such efforts "doomed to fail."

12. India Committed to Responsible Conduct
India reiterated its commitment to non-escalation — “provided Pakistan reciprocates.” Officials stressed that India’s military operations have been calibrated and proportionate.

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