
Bhaichung Bhutia 'Feels Sorry' For Khalid Jamil As Indian Takes Over National Team During Tumultuous Time
Jamil assumes the role of the gaffer of the Indian national side during a tumultuous time for the side on and off the field and Bhutia opined that the AIFF preferred him for the role as the 48-year-old is unlikely to make too may demands.
'We have got two world class coaches leaving, we have got Igor Štimac who coached the Croatian team, and then Manolo Marquez who is one of the great coaches with great history," Bhutia told PTI.
'If these two coaches couldn't work with the federation, then you bring people who will listen and will do what Federations says and will not come up with his own ideas and demands from the federation," he added.
'I think Jamil being a domestic coach fits into that as he is fairly new to the team. Feel sorry for him as well as he is taking charge of the team when it's in a very difficult situation," he added.
'For Kalyan, he is the right guys because Indian coaches do not demand much. At the same time he is saying that there are financial problems and today the federation has gone into such a bad situation that we don't have money to pay to the coaches as well."
'There are coaches who are national team coaches, and they are being paid by the other people, so, I don't know where all the money's gone and there are scam after scam," Bhutia added.
Bhutia criticized AIFF chief Kalyan Chaubey, who had recently acknowledged that club football is in crisis due to the uncertainty surrounding the ISL. Chaubey attributed the situation to certain self-proclaimed reformers with vested interests.
'Chaubey said exactly the right things but who is the head of the federation, and who is controlling football right now and that person should be responsible for the same," the former striker added.
'He is saying that it's in a crisis but not saying that I am Chaubey the head of the federation that created those crises. He does not understand what position he is in and the football in this country is in crisis and it is the responsibility of the federation and the president to solve those crises and if he cannot do that he should let somebody come in who can solve those crises," the Sikkimese Sniper said.
Bhutia and Chaubey have shared a history of verbal spats, with the former frequently questioning Chaubey's leadership, even calling the AIFF a circus. The AIFF president has denied the accusations, calling instead for constructive contributions.
The National Sports Governance Bill was passed in the Rajya Sabha on Tuesday, a day after it cleared the Lok Sabha. Bhutia also touched upon the National Sports Bill and called for more transparency and better judgement instead of power being concentrated in a few hands.
'I welcome the Sports Bill. I only hope that the BCCI was included in that. But, overall, it's a welcome move. We have been struggling in terms of football and Olympics and I hope this bill brings transparency and right people at the job."
'Let's see how it goes first, it's important that transparency and honesty has to come in. I hope that the judgement is passed for the spirit and betterment of sports. I hope whatever the committee said has transparency and fair judgement for the betterment of sports," he said.
The AIFF has also decided to conduct the Super Cup before the ISL. Bhutia raised concerns over the federation's handling of administrative matters as he said, 'When the Supreme Court appointed the ad hoc committee to run the federation for the U-17 Women's World Cup, the federation should have asked the SC whether we can run it or we should have a new body."
'That delay of 3 years clashed with the MRA rights getting over. That timing could have been tackled much more before coming to this stage. They should have gone to the SC and asked. I have been saying this to find out whether this body can continue which they did not do purposely," he added.
Jamil's first assignment as the head coach of the Blue Tigers will be India's bid at the CAFA Nations Cup 2025, slated to begin on the 29th of August in Tajikistan and Uzbekistan.
'It's a great tournament and good for the Indian team as well but as I said that the football is in a mess. You should have sat with the ISL, FSDL and the new coach and then taken the call," Bhutia said.
'And when you start playing this tournament and suddenly you are trying to play the Super Cup and ISL. Then how does that work? I think it's going to be a total mess," he continued.
'If tomorrow ISL comes in and says we're gonna start playing then you will not have some of the best players playing for the club," Bhutia concluded.
(With Inputs From PTI)
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
a minute ago
- Mint
Indian Investors Show Cautious Optimism Ahead of US-Russia Summit
(Bloomberg) -- Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Chiranjivi Chakraborty, an equities reporter in Mumbai. There's not much to cheer for equity bulls on a rainy Thursday morning in the city. Nifty futures are trading steady, and Asian markets haven't managed to sustain Wednesday's rally. The focus is shifting to the weekly expiry of Nifty options, especially with a long weekend ahead and a highly anticipated meeting between Donald Trump and Vladimir Putin. Meanwhile, foreign funds seem to be toning down their bearish bets. This, combined with still hopeful retail investors and local institutions sets the stage for a surprise move in the days ahead. Cautious optimism ahead of the long weekend Odds favor the Nifty 50 Index breaking its six-week losing streak — the longest since 2020. Despite a dip on Tuesday, the benchmark is up for the week. With Nifty options expiring and an extended weekend ahead, some short covering could give the market an extra lift. Local traders and global funds may also keep positions lighter than usual ahead of the upcoming US-Russia summit on the Ukraine war, mindful of the past market jolts from the unpredictable Donald Trump. REITs quietly building momentum While equity markets wobble, India's listed real estate investment trusts are on a tear. Driven by the boom in global capability centers and steady demand for high-quality office and retail space, the four listed REITs distributed 15 billion rupees ($172 million) to investors in the June quarter, up 13% from last year, according to the Indian REITs association. The sector's stability and income potential are making REITs a regular feature in investment portfolios. Derivatives traders switching lanes? Another corner of the market is drawing increased interest from traders. With derivatives trading volumes falling, margin trading exposure — or leveraged bets — in the cash market is up nearly 30% since April to 911 billion rupees, according to data from the National Stock Exchange. The surge suggests that some options traders may have switched tracks due to stricter regulations in the derivatives segment since November. While the jump hasn't yet shown up in cash market turnover, brokers are benefiting from the higher commissions such trades generate. Three great reads from Bloomberg today: Over in bond land, benchmark 10-year yields have burst past the 6.5% mark for the first time since April, climbing about 15 basis points since the RBI dashed rate-cut hopes. Big buyers are staying away, waiting to see if fiscal measures can soften the blow from steep US tariffs. And just to keep things interesting, a fat-finger trade briefly sent yields tumbling Wednesday morning, only for them to snap right back up. To read India Markets Buzz every day, follow Bloomberg India on WhatsApp. Sign up here. --With assistance from Kartik Goyal and Savio Shetty. (Corrects year in second paragraph.) More stories like this are available on


Mint
a minute ago
- Mint
Trump's crypto cheer lifts Bitcoin, but core risks still loom
The cryptocurrency faithful are having quite a moment. Donald Trump's return to the White House has brought a veritable cornucopia of pro-crypto promises, from talk of a 'Strategic Bitcoin Reserve" to declarations about making America the 'crypto capital of the world." Markets have reacted predictably: Bitcoin has surged past previous highs, and believers are treating this as ultimate vindication. Yet beneath the sheen of political legitimacy, nothing fundamental has changed about cryptocurrencies' essential nature. The irony in Trump's embrace of crypto is hard to miss. The proposed 'Strategic Bitcoin Reserve and US Digital Asset Stockpile" will apparently consist entirely of assets seized from criminals. In other words, the US government's official cryptocurrency holdings will be digital assets once used for ransomware, money laundering, drug trafficking, and other illicit activities. It's rather like announcing a strategic reserve of stolen goods as proof of their virtue. This detail neatly captures crypto's central problem. Despite all the technological sophistication and political endorsements, it remains the payment method of choice for criminals worldwide. Every major ransomware attack, dark web marketplace, and cross-border money laundering network gravitates to crypto for the same reasons enthusiasts celebrate it—anonymity, irreversibility, and freedom from traditional oversight. Political enthusiasm can't fix these structural flaws. Governments seeking to legitimise crypto are, in effect, blessing a system designed to bypass governmental authority. The contradiction is glaring: regulators tout an asset class while acknowledging that their strategic reserves will be filled mainly by seizing it from criminals. The ease with which fraud and theft occur in crypto remains staggering. Consider the 'socialised loss" strategy, where a major Indian exchange, after losing customer funds to hackers, decided everyone should share the pain, a perfect example of the Wild West ethos. When exchanges profit, it's capitalism; when they're robbed, suddenly everyone's a socialist. The frequency of such episodes would be comical if they didn't wipe out life savings. These aren't isolated mishaps or growing pains; they're built into a system that operates outside traditional financial protections. When a bank is robbed, deposit insurance protects you. When a crypto exchange is 'hacked", often a euphemism, you're on your own. The very decentralisation crypto champions means there's no safety net when things go wrong. Trump's enthusiasm also underlines another uncomfortable reality: an anti-establishment movement has been fully co-opted by the establishment it once vowed to disrupt. Wall Street, which Bitcoin was meant to circumvent, is now its biggest backer via ETFs and institutional products. The so-called revolutionary currency depends on the same traditional finance for its legitimacy. Political endorsement carries psychological weight. When governments and big institutions adopt a position, it creates an illusion of safety and permanence. Past crypto bubbles fed on tech mystique and get-rich-quick dreams; this cycle adds political validation, which could make it more dangerous for ordinary investors mistaking political backing for sound investment. For Indian investors, the temptation to chase this apparent legitimacy will be strong. Domestic taxation has curbed much local speculation, but political developments in the US could encourage some to seek workarounds. The 'don't miss out" narrative, wrapped in patriotic American rhetoric about financial dominance, could be persuasive. Yet the math hasn't changed. Crypto produces nothing, earns nothing, and represents no underlying asset. It serves no economic purpose that existing systems can't fulfil more efficiently. Its price is driven purely by speculative sentiment, whether fuelled by tech hype, celebrity endorsements, or presidential tweets. The most telling part of crypto's political embrace is how quickly its advocates abandoned anti-government principles in exchange for government approval. Those who once railed against fiat currencies and central banks now cheer politicians promising to hoard their preferred tokens. It's a striking shift from revolutionary idealism to conventional rent-seeking. Short-term price predictions are futile, speculative bubbles can inflate far beyond reason. But knowing what you're buying matters. Political theatre and presidential applause can't turn speculation into investment, gambling into wealth-building, or criminal infrastructure into legitimate finance. However much hot air gets pumped into this bubble, the fundamentals remain unchanged. Dhirendra Kumar is founder and chief executive officer of Value Research, an independent advisory firm. Views expressed are personal.
&w=3840&q=100)

Business Standard
a minute ago
- Business Standard
ED freezes mule accounts worth ₹110 cr in PMLA case against Parimatch
The Enforcement Directorate (ED) on Thursday said it has frozen ₹110 crore kept in mule bank accounts in connection with a money laundering case against Parimatch, a Cyprus-based 'illegal' online betting platform. The agency also seized at least 1,200 credit cards during searches on its Indian operations. The platform, according to the ED, gained prominence through an 'aggressive' marketing strategy, including sports sponsorships and celebrity endorsements. It is accused of cheating investors by luring them with high returns and generating over ₹3,000 crore in a year. Surrogate advertising and foreign payments In a statement, the ED said, 'They also set up Indian entities to run surrogate advertisements under the names 'Parimatch Sports' and 'Parimatch News'. Payments to these agencies were made via foreign inward remittances.' Searches were carried out at 17 locations across Mumbai, Noida, Jaipur, Surat, Madurai, Kanpur, and Hyderabad. The case was registered on August 12 under the Prevention of Money Laundering Act (PMLA), following an FIR filed by the cyber police station of Mumbai Police against the company's website. Alleged modus operandi According to the ED, Parimatch routed funds from users through mule accounts using various strategies nationwide. In one instance, deposits into mule accounts were withdrawn in Tamil Nadu and handed to hawala operators, who recharged virtual wallets of a UK-based company. These wallets were then used to buy cryptocurrency under mule crypto accounts operated by Parimatch agents. The agency said Parimatch engaged domestic money transfer (DMT) agents in western India. Mule accounts managed by these agents were also used to make payments via mule credit cards to Parimatch representatives. Use of unlicensed payment companies The ED alleged that Parimatch used payment companies whose applications for payment aggregator licences were rejected by the Reserve Bank of India. Operating as technology service providers, these companies offered their application programming interface (API) to facilitate fund transfers for the betting platform. Funds received via the Unified Payments Interface (UPI) were allegedly layered and disguised as e-commerce proceeds, chargebacks, vendor payments, and other transactions to conceal their origin.