July 19, 1985, Forty Years Ago: Gujarat Accord
Pakistan is coordinating its military activities with China in a bid to capture the strategic Siachen Glacier in Ladakh. Pakistani and Chinese air force jet fighters recently conducted joint reconnaissance missions over the glacier and the Indian Nubra Valley. Defence experts say Pakistan is trying to secure advantageous positions in the glacier to secure a common border with China to facilitate a closer military link-up in the event of a war with India.
Safarnama, the new TV serial presented at the initiative of the railway ministry, has been derailed. Doordarshan authorities have decided to suspend it on the ground that the third episode was 'not only below standard but vulgar in dialogue at places'. The move has caused surprise in Rail Bhavan, where officials point out that Doordarshan brought the alleged vulgarity to their attention only after the telecast.
The ongoing tussle between the Congress (I) and Congress (S) for office accommodation in Parliament House took a serious turn when the former made an unsuccessful bid to 'capture' the adjoining Congress (S) office. After removing all sign boards of the Congress (S) office, Congress (I) men allegedly broke open the connecting door between the two party offices and took away some files and papers.
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Mint
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Global oversight needed for the tokenization of currency: Nirmala Sitharaman
Finance minister Nirmala Sitharaman on Saturday called for a redefinition of multilateral institutions to provide effective oversight as countries explore the tokenization of currency, warning of rising complexity and the lack of global frameworks to govern this shift. Speaking at the release of a book, A World in Flux: India's Economic Priorities, in New Delhi, she said that multilateral institutions have never been left in limbo in the last 100 years. The finance minister said this is true for financial as well as strategic institutions. Every multilateral institution that has successfully served earlier is now wondering where it is, what its immediate future will be, and how it will redefine itself. Her concerns about the tokenization of currency—the transformation of money into digital tokens on a blockchain or distributed ledger—come at a time when cryptocurrencies are increasingly making their way into the financial world. The Reserve Bank of India has cautioned multiple times that virtual currencies are risky. However, the US government under President Donald Trump is encouraging more innovation in this area. In January, Trump signed an executive order to ensure Washington's leadership in digital financial technology. He then set up a working group to develop a federal regulatory framework governing digital assets, including stablecoins, and to evaluate the creation of a strategic national digital assets stockpile. Trump also revoked the Treasury Department's 'Framework for International Engagement on Digital Assets, which suppressed innovation and undermined US economic liberty and global leadership in digital finance'. The US is also trying to become the 'crypto capital of the planet', according to the presidential order. Sitharaman said multilateral institutions have to be redefined. 'If you could go for a currency with no gold backing sometime in the 70s, now it is already moving towards tokenization and is that something on which we see the depth of?' The minister also asked if there was any framework under which any country could unilaterally take that route. 'Who is going to have oversight on these sorts of things?' The minister said the depth and the complexity of the situation were increasing. The book, A World in Flux: India's Economic Priorities, edited by Amita Batra, former chairperson at the Centre for South Asian Studies and A.K. Bhattacharya, editorial director at Business Standard is published by Rupa Publications India Pvt. Ltd. Sitharaman also said in response to a question about the normalization of economic ties with China that it was right to point out that there are calls for greater access and interaction with China, and possibly to open some windows. 'That is not just from our side, even the Chinese have been approaching through the ministry of external affairs,' the minister said, referring to external affairs minister S. Jaishankar's recent visit to China. 'There is some kind of beginning. As to how far it will go, it is something we will have to wait and see,' the minister said, adding it might help the economy, and a sense of caution would have to be built in. To a question on investments in the economy, she said that companies' and banks' balance sheets have become healthier, and the corporate tax rate was cut to boost investments. Referring to what the minister was hearing from observers and her own interactions with business leaders, Sitharaman asked if businesses were sitting on passive, investible funds. 'That is, investible funds that are being engaged passively rather than investing and expanding capacity. That is an issue that I would obviously want the industry to speak about.' On trade, she said bilateral trade has now taken priority over multilateral trade, though she could not comment on the merits of this trend. The minister added that negotiations for trade deals are well progressing with the US and the EU.
Time of India
37 minutes ago
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Monsoon session: BJP to raise BBMP split, tunnel road plans in Bengaluru
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Time of India
an hour ago
- Time of India
Indian community stages protests in Ireland over racist attack
1 2 3 4 Bhubaneswar: Racist attack on an Indian at Tallaght, Dublin, has sent shockwaves through the Indian diaspora in Ireland, prompting them to stage protests in Dublin on Friday and Saturday. On July 19, an Indian national was brutally attacked by a group of youths in Tallaght, stabbed multiple times in the face, stripped naked, and left bleeding on the road for over an hour before emergency services arrived. "The attack in Tallaght was not just a crime against one Indian migrant but an attack on the dignity of every Indian living abroad. We came to Ireland to work hard, to study and to contribute. We deserve safety, respect, and justice just like any citizen," Prince Singh, a protester told TOI over the telephone from Ireland. On Saturday, 700 to 800 people from India, Pakistan, Bangladesh and even Ireland, as well as trade union members, organised a protest march from City Hall, Dublin City Centre, to the National Gallery. "It saw strong participation from trade union members, activists, and citizens from diverse backgrounds. The demonstration called for unity against racism, better protection for minorities, and stronger action from authorities," said Dayakar Reddy Komirelly, vice-president of VHCCI (Vedic Hindu Cultural Centre Ireland). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Up to 70% off | Shop Sale Libas Undo On Friday, around 200 people gathered in front of Ireland's department of justice for a peaceful and silent 40-minute protest, which was organised by Friends of India, Ireland, a collective of Indians from diverse regions and professions living across Ireland. "We protested in a non-violent and peaceful way," said Indian-born Senthil Ramasamy, a peace commissioner with the Irish govt from Waterford, who was part of the protest. He said there has been an increase in racist-related crimes in Ireland in the last 6 to 7 years. The video of the attack sparked outrage both in Ireland and across the world. An online petition with over 15,000 signatures was submitted to the minister for justice, Jim O'Callaghan, calling for immediate action, accountability, and systemic protections for minorities. While the majority in attendance at the protest were Indian migrants, the crowd also included members of other immigrant groups and Irish citizens. They displayed placards with "Say no to racism", "All lives matter" and "Ireland is home" as part of the protest. "I decided to be part of the protest because we have to stand for our rights," said Somanath Nanda, an IT professional. The organisers lauded An Garda Síochána (Irish police) for classifying the incident as "racially motivated". They also thanked the Embassy of India in Dublin for its support for the victim and his family. "We stand here with our community and with every migrant who has ever felt fear because of the colour of their skin or the accent of their voice. Ireland must act. And the whole world, including India, is watching," said Singh. Indians form the largest non-EU immigrant community in Ireland, numbering over 100,000. They play a significant role in the IT and healthcare sectors.
