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Hans India
6 minutes ago
- Hans India
Karnataka Deputy CM DK Shivakumar Highlights Unwavering Congress Commitment, Takes Veiled Swipe At Siddaramaiah
Karnataka Deputy Chief Minister DK Shivakumar has emphasized his unwavering commitment to the Congress party, marking 37 years of dedicated service while subtly drawing attention to the contrasting political journey of Chief Minister Siddaramaiah, who transitioned from the Janata Dal (Secular) to Congress. At 63 years old, Shivakumar highlighted his deep-rooted connection with the party, stating that he has matured alongside the Congress organization. His comments appear strategically timed amid ongoing speculation about potential power-sharing arrangements within the Karnataka government, subtly positioning himself as the more loyal party member compared to Siddaramaiah, who joined Congress in 2006 after his tenure with the Janata Parivar. The Deputy Chief Minister reflected on his political career, which spans eight consecutive terms in the state assembly, emphasizing that his allegiance has remained constant from his early political days. He stressed the importance of maintaining organizational roots, suggesting that abandoning one's foundational connections leads to fruitless outcomes. This philosophy appears to underscore his criticism of leaders who have switched political affiliations during their careers. Shivakumar credited his appointment as Karnataka Pradesh Congress Committee chief to the trust placed in him by former Congress president Sonia Gandhi. He described his three-year tenure in this role as a period of complete dedication toward dismantling the BJP's governance in Karnataka, which he referred to as the "double engine" government. His efforts, he claimed, were instrumental in restoring Congress power in the state. The Deputy Chief Minister portrayed his contribution to the party's electoral victory as wholehearted, suggesting that his personal investment was crucial to bringing the current government to power. This assertion reinforces his claim to a significant role in Karnataka's political landscape and potentially strengthens any argument for greater responsibility or recognition within the state leadership structure. In addressing ongoing discussions about potential leadership changes, Shivakumar praised Sonia Gandhi's 2004 decision to decline the Prime Minister's position, describing it as an extraordinary political sacrifice that remains unparalleled in Indian politics. Without directly naming individuals, he observed that while some leaders are willing to share power, many others refuse to do so, even at the grassroots panchayat level. These remarks come at a crucial time when questions about a possible rotation of the chief ministerial position in Karnataka continue to generate political speculation. The comments suggest underlying tensions about power distribution within the state government and highlight the complex dynamics between the two senior Congress leaders in Karnataka. Shivakumar's emphasis on organizational loyalty and his implicit contrast with Siddaramaiah's political history appears to be a strategic positioning move. By highlighting his continuous association with Congress since his political inception, he distinguishes himself from colleagues who have changed party affiliations, potentially strengthening his claim to leadership positions within the state hierarchy. The Deputy Chief Minister's statements reflect broader themes of political loyalty, organizational commitment, and the significance of maintaining consistent party allegiance throughout one's career. His comments also underscore the ongoing internal dynamics within the Karnataka Congress unit, where questions of leadership succession and power-sharing arrangements continue to influence political discourse. As speculation about potential changes in Karnataka's leadership structure persists, Shivakumar's public assertions of loyalty and dedication serve to reinforce his position as a committed party member who has consistently supported Congress interests throughout his extensive political career. His subtle critique of party-switching behavior appears designed to highlight the value of unwavering organizational commitment in contemporary Indian politics.
Mint
6 minutes ago
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Israel-Hamas war: Over 600 ex-Israeli security officials urge Trump to pressure Netanyahu govt end Gaza conflict
More than 600 retired Israeli security officials including former heads of intelligence agencies have urged US President Donald Trump to pressure their own government to end the war in Gaza. "It is our professional judgement that Hamas no longer poses a strategic threat to Israel," the former officials wrote in an open letter shared with the media on Monday, calling on Trump to "steer" Prime Minister Benjamin Netanyahu's decisions.
Mint
6 minutes ago
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India central bank delivers maturing $5 billion dollar-rupee swap, bankers say
(Corrects typographical error in media packaging code, no changes to text) MUMBAI, Aug 4 (Reuters) - The Reserve Bank of India will deliver a $5 billion dollar-rupee swap maturing on Monday, with surplus rupee liquidity in the banking system leaving little need for a rollover, four bankers said. Delivering the swap without a rollover implies the RBI is selling dollars and absorbing rupees from the banking system — a move unlikely to disrupt money markets, with rupee liquidity currently in surplus, bankers said, requesting anonymity since they are not authorized to speak to the media. The $5 billion buy-sell dollar/rupee six-month swap, which matures on Monday, was part of a series of measures that the central bank had taken to boost rupee liquidity from late January to May. "The purpose of the swap was to inject INR liquidity," a senior treasury official at a state-run lender said. At the time of initiating the swap in January, the central bank bought dollars, injecting rupees into the banking system. "Now with the system running a surplus, settling it won't cause any disruption — and that provides RBI room to deliver it." India's banking system liquidity surplus has risen to over 3.60 trillion Indian rupees ($41.2 billion) — the highest in four weeks and equivalent to around 1.5% of total deposits. RBI head Sanjay Malhotra had indicated in April that the central bank is looking at keeping surplus levels around 1% of deposits. "The central bank will not roll over the swap," said VRC Reddy, treasury head at Karur Vysya Bank, "At this juncture, rupee liquidity is very comfortable, and it makes sense for the central bank to deliver the dollars." Further, a swap trader at a mid-sized private sector bank said he had not seen or heard of any large-sized buy/sell swaps being conducted through state-run banks — a development that would typically accompany a rollover by the RBI. Dollar-rupee near-term swaps showed no signs of disruption from the maturity of the RBI's swap. The cash-tomorrow swap was quoted at 0.34/0.35 paisa, implying an annualised yield of around 5.8% — only marginally above the interbank call rate. ($1 = 87.4050 Indian rupees) (Reporting by Nimesh Vora; additional reporting Dharamraj Dhutia; Editing by Ronojoy Mazumdar)
