The Hindu Editorial Newspaper Analysis Free PDF Download

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A relationship adrift

 At age 11, Mr. Trudeau •first visited India in 1983
 India and Canada need to go back to the drawing board and urgently repair ties
 Ontario provincial legislature calling the 1984 anti-Sikh violence “genocide”;
 Toronto organised by Khalistani groups
 Mr. Trudeau to reach out to Punjab Chief Minister Amarinder Singh
 But till his arrival, Mr. Trudeau’s office did not confirm a meeting with the Chief Minister.
 Ottawa for its tone-deafness to Indian sensitivities
 On New Delhi for failing to press its concerns
 Mr. Modi’s decision to stick to protocol, and not welcome Mr. Trudeau as he has
tended to do for many foreign visitors, was a signal
 Jaspal Atwal at an official reception, which had an embarrassed Mr. Trudeau left explaining
how a man who attempted to assassinate an Indian minister in 1986
 Mr. Atwal was even allowed into the country.
 India-Canada bilateral relationship
 Which has turned frosty(very cold) after a decade of excellent progress.
 In this period, the two sides had forged close cooperation on energy and trade, including
 A civil nuclear cooperation agreement and
 A commitment from Canadian pension funds to invest in India.
 India and Canada have much in common as two pluralistic, diverse democracies with very strong people-to-people ties:
 there is an Indian diaspora of 1.3 million in Canada, besides 100,000 Indian students.
 India-Canada cooperation anchored on •five Es: economy, energy, education, entertainment industry linkages, and empowerment of women
 Mr. Trudeau extended strong support for India’s membership of Nuclear Suppliers Group.
 “Effective cooperation” on security, •finance, justice, law enforcement and operations
 Freedom of navigation, India’s reservations on China’s mega Belt and Road Initiative.
 The two sides agreed on their analysis of the situation in the Korean Peninsula
 The two Prime Ministers called for dismantling the infrastructure of support to terrorism “from across borders of Afghanistan”, a clear reference to Pakistan.
 The Maldives government was urged “to ensure early resumption of the political process.”
 On Myanmar, the need for voluntary, safe and sustainable return of the Rohingya refugees was stressed.
 The handling of Mr. Trudeau’s visit by both Ottawa and New Delhi doesn’t do justice to these
ties; both countries must work to repair the rupture.
 Canadian leadership needs to demonstrate greater sensitivity to India’s core concerns

Can banking recover?
 We need stricter adherence(अनुपालन) to sound banking rules
 More transparency from public and private players
 Frauds involving Punjab National Bank (PNB)- Nirav Modi and Mehul Choksi
 Rotomac case couldn’t have come at a worse time.
 Indian banking system is already reeling under the pressure of growing NPAs, or
non-performing assets
 Which will touch nearly •10 lakh crore by March this year- Already caused a slowdown
 Failure at many levels
 Prime Minister who had promised to be the nation’s “chowkidar”
 To prevent any such loot- But let us step away from the politics.
 It is now clear that the scams are fundamentally a failure of regulation.
 Bank level- Auditors did not track these problematic transactions for years.
 The Reserve Bank of India (RBI) did not monitor
 Finance Ministry failed in its oversight and regulation
 And successive Central governments- have not done anything to address obvious problems
 Using LoUs- Letter of undertaking (LoU)- PNB scam relied on- It was created by the RBI
 Modi-Choksi combine- This case involves pure criminal fraud
 Just 12 large outstanding NPA accounted for as much as 250,000 crore
 Wilful defaulters are neither punished nor prevented from leaving the country.
 In fact their names are not even made public, so they can continue to access loans from
other banks
 Privatisation no answer
 The key issue is one of poor regulation, and not ownership.
 Poorly regulated private banks are even more prone to scams
 U.S. and European bank behaviour leading to the great •financial crisis of 2008-09 show
 In India, in decade before the nationalisation of banks in 1969, there was an average of more
than 35 private bank failures every year.
 After the liberalising reforms of the 1990s, the collapse of the private Global Trust Bank and
Centurion Bank
 Recovering from this will require stricter & sound banking rules & more transparency
and accountability from both public and private players

Regulating the future-AI

Prelims Focus Facts-News Analysis

 Page-1- CPC clears the decks for third term for Xi
 Communist party for lifting two-term limit on Presidency
 China on Sunday cleared the decks for President Xi Jinping’s third consecutive term
in office, ahead of a crucial session of parliament next month
 President and the Vice-President will not be constitutionally restricted to two consecutive
terms in office.
 Page-1- CBI registers new loan default case
 The CBI has registered a case against the Uttar Pradesh-based Simbhaoli Sugar
Limited and its nine senior functionaries for allegedly cheating Oriental Bank of Commerce
of •109.08 crore in connivance with unknown bank officials.
 This is the second case of fraud involving the bank in the past few days.
 Chilika in good health: authorities-?
 Page-1,7,10- Pan-India superstar takes last bow, fans heartbroken
 Page-1- Rustom-2 UAV takes to skies
 Unmanned air vehicle (UAV) being developed by Defence Research and Development Organisation for the three services, Indian Army, Indian Navy
 Rustom-2 belongs to a family of UAVs under development, including Rustom-1 and Rustom-H
 It is a medium-altitude long-endurance drone (MALE).
 It can •y up to an altitude of 22,000 feet and has an endurance of over 20 hours.
 It is capable of carrying payloads for electronic and signal
 N. Korea open to talks with the U.S.
 Its intelligence chief meets South Korean President
 UN’s truce call fails to stop strikes
 New regime air strikes and heavy clashes shook Syria
 India signs o•ff with a thrilling win