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The Print
19-07-2025
- Business
- The Print
A Malayalee from Gujarat is shaking up Kerala BJP. Rajeev Chandrasekhar's un-Sangh poll campaign
In his campaign mode, the Malayalee politician from Gujarat is not just trying to familiarise himself with his roots, but also making an effort to leave his technocrat footprint on the state—where the BJP is yet to find a firm footing—for rising beyond 'underdevelopment and misgovernance'. As Kerala heads to the local body polls scheduled in December, before the all-important state elections early next year, the former Union minister is focusing on a campaign focused on 'Viksit Keralam' with Prime Minister Narendra Modi's schemes as its pivots while projecting a more inclusive perception of the BJP. Thiruvanthapuram: When Rajeev Chandrasekhar became the BJP's Kerala chief in March, it was a break from the usual dyed-in-the wool Sangh background leader taking over the responsibility. Three months on, the businessman-turned-politician is moving ahead with a strategy visibly different from his predecessors. Before his political career took flight in 2006, when he was elected to the Rajya Sabha representing Karnataka, Chandrasekhar had worked with tech companies, including Intel and Softech. He has a Bachelor's degree in electrical engineering and a Master's in computer science from the Illinois Institute of Technology in Chicago. In 1994, after returning to India, he founded BPL Mobile, one of the country's earliest and largest mobile cellular networks. Nearly three decades later in 2021, he was appointed Minister of State for Electronics and Information Technology, and Skill Development and Entrepreneurship. The BJP leader, however, lost to Shashi Tharoor last year in Thiruvananthapuram. One of his first major events Chandrasekhar organised after taking over from was the launch of the 'Viksit Keralam convention' across the party's 30 organisational districts. A team of over 600 functionaries, dubbed Team Vikasita Keralam, oversaw the campaign, which targeted the ruling Left Democratic Front (LDF) and the opposition United Democratic Front (UDF) over alleged misgovernance. At the State Office Bearers meeting of BJP's 'Team Vikasita Keralam' held today at Mararji Bhavan in Thiruvananthapuram. Senior party leaders and key functionaries from across the state participated in the meeting, which focused on sharpening organizational strategy and… — Rajeev Chandrasekhar 🇮🇳 (@RajeevRC_X) July 18, 2025 At the same time, they highlighted the Modi government's development schemes such as the Pradhan Mantri MUDRA Yojana aimed at providing easy access to credit for small business owners and the Pradhan Mantri Gram Sadak Yojana (PMGSY) that looks to improve rural road connectivity. This month, Chandrasekhar expanded the effort further by setting up help desks in all district headquarters, reportedly the first in BJP, to ensure that awareness on central schemes reach every citizen. 'All BJP district and constituency offices will function as public service centres. This is not politics, the aim is to deliver development,' he said inaugurating the initiative last week, adding that these help desks will soon be available as an app on BJP workers' phones, enabling citizens to learn about and access various schemes or file complaints. Political analyst and former journalist K.P. Sethunath highlighted that this was the first time that a technocrat was appointed as the Kerala party chief instead of a conventional politician. 'Earlier, the BJP state chief always had a core RSS background. Now, anti-minority rhetoric has been scaled down by them. They don't need the BJP to do it anymore; fringe elements will,' he told ThePrint. Though Chandrasekhar has been not able to inculcate a Malayalee image, he said, the campaign might convince many to go for a change in the southern state. Sethunath said the BJP campaign would target Kerala's urban middle class, particularly upper-caste and upper-class voters disillusioned with LDF and UDF. However, he added that the BJP might have to defend this campaign as its Viksit Bharat initiative is currently receiving setbacks due to its efficiency and outcomes. The eroding Modi magic in the national level could also impact the party's prospects as Chandrasekhar's campaign was solely focussed on 'Modi vision' for India, he asserted. BJP general secretary Renu Suresh said Chandrasekhar's appointment signaled the Centre's serious intent to grow in Kerala. 'He has close ties with the central government and understands their initiatives well. That helps in coordination,' she said, adding that the party's developmental focus aligns with his leadership. Also Read: RSS to Raj Bhavan via Goa BJP, now amid 'Bharat Mata' image row—tracing Kerala Governor Arlekar's journey Litmus test ahead While heading the party's campaign, the first step for the Kerala BJP chief to prove himself is the upcoming local body polls. The party's focus on the local body polls was also visible on Saturday when Union Home Minister Amit Shah visited the state to address ward-level functionaries. Currently, BJP controls two municipalities and 19 gram panchayats. Kerala has a total of 1,200 local bodies encompassing 6 municipal corporations, 87 municipalities, 14 district panchayats, 152 block panchayats, and 941 gram panchayats Keeping Chandrasekhar close to him on the stage, Shah said the National Democratic Alliance (NDA) will contest in 21,000 locations and ensure its presence at every booth with more than 25 percent of the vote share. The pitch was Viksit Kerala, which, he said, would be impossible without the BJP and the NDA. 'The foundation of this vision rests on three key principles of Prime Minister Shri Narendra Modi ji: first, governance without corruption; second, no discrimination in the implementation of government schemes; and third, a commitment to Kerala's development, rising above vote bank politics,' Shah said. Many party leaders said Chandrasekhar's arrival has energised grassroots workers. 'It was his idea to focus on grassroots cadre-building. Now, responsibilities have been clearly assigned to both new and old members,' said Renu. She also acknowledged that the party was previously seen as inactive between elections but is now increasing its public outreach ahead of the local polls. In each booth, a three-member committee has been set up to ensure coordination and leadership roles for local cadres, a party functionary from Ernakulam said. BJP general secretary Anoop Antony told ThePrint the party is aiming to capture power in Thiruvananthapuram and Thrissur municipal corporations, along with several municipalities and dozens of gram panchayats. This confidence stems from BJP's performance in the 2024 Lok Sabha polls. Chandrasekhar improved the party's vote share in Thiruvananthapuram from 31.30 percent in 2019 to 35.52 percent, while actor-politician Suresh Gopi secured BJP's first-ever Lok Sabha seat from Thrissur. Imprint on Kerala unit On 12 July, the party appointed 10 vice-presidents, including former IPS officer R. Sreelekha, K.S. Radhakrishnan, C. Sadanandan Master, Advocate B. Gopalakrishnan, Shone George, M. Abdul Salam, K. Soman, K.K. Aneesh Kumar, C. Krishnakumar, and P. Sudheer. Four general secretaries were named: M.T. Ramesh, Sobha Surendran, Adv. S. Suresh, and Anoop Antony Joseph. Three Christians—George, Joseph and secretary Jiji Joseph—were included in the BJP state committee members, signalling the party's long-term efforts to woo the community. Sobha Surendran, who had publicly criticised K. Surendran and was previously excluded from his core committee, has now been inducted as a vice-president and a core committee member. Meanwhile, a former state committee member who was recently embroiled in a 'half-price' scam, has been dropped. BJP leaders told ThePrint that despite the reshuffle, internal tussles have been minimal. However, they acknowledged that a more 'inclusive' leadership profile is essential for electoral success. 'To come to power in Kerala, we need Christian and Muslim votes. While the Muslims remain reluctant, we are seeing a strong Christian participation, which should be reflected in leadership, too,' a senior party leader told ThePrint. (Edited by Tony Rai) Also Read: Legs hacked by Left supporters, how RS entrant Sadanandan's case played out in the courts
Mint
27-06-2025
- Business
- Mint
Sitharaman asks banks to step up lending as interest rates fall
Finance minister Nirmala Sitharaman has asked public sector banks to step up lending after Reserve Bank of India cut key policy rates early this month and contribute to the growth of the economy. The RBI cut its key repo rate by a larger-than-expected 50 basis points, as muted inflation gave policymakers room to prioritise growth amid global economic uncertainty. The finance minister also urged banks to boost lending to micro, small and medium enterprises, improve deposit mobilisation, while also instructing financial institutions to scale up efforts under key financial inclusion schemes, including PM MUDRA Yojana, PM Vishwakarma, PM Surya Ghar Muft Bijli Yojana, PM Vidyalaxmi, and the Kisan Credit Card (KCC) scheme. Sitharaman chaired a high-level meeting in Delhi on Friday to review the performance of public sector banks (PSBs) on financial parameters, credit offtake, financial inclusion, customer service, grievance redressal, digital banking, and cybersecurity. The meeting was also attended by Union minister of state for finance Pankaj Chaudhary; Secretary, department of financial services (DFS), M. Nagaraju; MDs of PSBs; and senior officials of the DFS. During the meeting, the finance minister acknowledged the strong financial performance of PSBs in recent years, and particularly in FY25. From FY23 to FY25, the total business of PSBs rose from ₹ 203 trillion to ₹ 251 trillion, net NPAs declined from 1.24% to 0.52%, net profit rose from ₹ 1.04 trillion to ₹ 1.78 trillion, and dividend payouts grew from ₹ 20,964 crore to ₹ 34,990 crore, according to a government statement. The finance minister was also informed that the PSBs are adequately capitalised, with their risk buffer (capital to risk-weighted assets ratio) standing at 16.15% as of March. Sitharaman emphasised the need for sustained efforts to improve deposit mobilisation to support ongoing credit growth. PSBs were advised to undertake special drives, effectively use their branch networks, and deepen outreach in semi-urban and rural areas. She urged PSBs to proactively identify emerging commercial growth areas for the next decade, which can aid their profitability and growth. She stressed deepening corporate lending in productive sectors, with a strong focus on maintaining robust underwriting and risk management standards. More so in renewable and sustainable energy areas, as advancing India's green growth agenda was a national priority. Banks were also advised to develop credit models to support the development of indigenously designed small modular nuclear reactors. As announced in the Union Budget 2025-26, PSBs were encouraged to focus on agri credit in the 100 low-crop productivity districts to be identified under the PM Dhan Dhanya Yojana. Banks were instructed to tailor special credit products to enhance agricultural productivity and unlock local economic potential by identifying and supporting farm products that can be developed in these particular districts. Banks were also advised to expand their presence in GIFT City to support India's aspirations in international financial services, tap into emerging global opportunities, and increase participation in the India International Bullion Exchange. To enhance customer experience, Sitharaman directed banks to ensure faster grievance redressal, offer simplified digital platforms, and provide multilingual services both online and offline. That includes maintaining clean, customer-friendly physical branches and expanding in metro and urban centres to keep pace with urbanisation. The finance minister directed the PSBs to participate actively in the upcoming three-month financial inclusion saturation campaign, beginning 1 July, covering 270,000 gram panchayats and urban local bodies. This campaign would also focus on assisting the citizens on know-your-customer (KYC) compliance, re-KYC and unclaimed deposits. Banks were directed to ensure focused outreach, adequate manpower deployment, and effective publicity of this special campaign to further deepen financial inclusion under schemes such as PM Jan Dhan Yojana, PM Jeevan Jyoti Bima and PM Suraksha Bima Yojana. Sitharaman was apprised of the progress under the new credit assessment model for MSMEs, launched on 6 March, with 1.97 lakh MSME loans amounting to ₹ 60,000 crore already sanctioned. Banks were directed to strengthen the model's implementation to broaden access to capital and expedite credit flow to small and medium businesses. The review noted that under the Stand Up India scheme, 228,000 loans worth ₹ 51,192 crore have been sanctioned. Similarly, under the PM Vidya Lakshmi scheme, 6,682 applications have been sanctioned, amounting to ₹ 1,751 crore. Given the government's commitment to supporting entrepreneurship and higher education through targeted credit initiatives, banks were directed to give greater focus to these schemes. Sitharaman said all existing and arising vacancies must be filled as soon as possible to deliver better service. Banks were encouraged to scale up branch expansion in underserved areas like the Northeast. The finance minister underlined the need to strengthen the business correspondent (BC) network to ensure last-mile access to banking services, particularly in rural and remote areas. An official said banks were also advised to check mis-selling of insurance products.
Hans India
01-06-2025
- Business
- Hans India
BJP's Amit Malviya junks P. Chidambaram's negative view on economy
BJP leader Amit Malviya on Sunday targeted former finance minister P. Chidambaram for painting a grim picture of the economy and linking it to alleged wage stagnation and consumer exploitation due to lack of competition in some sectors. Chidambaram's attempt to credit the UPA government for economic reforms also did not go down well with Malviya who wrote in a post on social media platform X: 'It's truly pitiful how a former Finance Minister displays such selective amnesia regarding India's economic journey.' 'To claim that the concept of 'profit not being a bad word' originated solely during his tenure conveniently ignores the reality that those reforms, however necessary, were half-baked measures, forced by a crippling Balance of Payments crisis,' said Malviya, in-charge of BJP's National Information and Technology Department. Earlier, the Congress leader, in a post on social media platform X, said: 'That 'profit' in business is not a bad word became government policy in 1991 when Dr Manmohan Singh was finance minister.' 'The question is how the profit must be shared among promoters, shareholders, labour, government, consumers, society and other stakeholders,' he said. Malviya responded by saying, 'The former Minister pontificates on profit-sharing, yet seems to forget the UPA era's notorious legacy — the 'Jayanti Tax', rampant corruption scandals, and an environment of policy paralysis that left India languishing among the 'Fragile Five.' Big industries weren't just hesitant, they were actively looking for exits. Profit sharing? Under the UPA, profits seemed reserved for a select few, while genuine enterprise was stifled.' 'Jayanti Tax' is a term used by the BJP to allege corruption under the then environment minister Jayanthi Natarajan in matters related to granting green nod to projects. While slamming Chidambaram, Malviya also showcased the NDA government's flagship schemes. 'Initiatives like MUDRA Yojana and Stand Up India have empowered over 30 crore aspiring entrepreneurs, fostering grassroots prosperity and ensuring the fruits of growth are shared far more widely than ever conceived during his tenure. That is tangible benefit-sharing, not hollow rhetoric,' he wrote in his post. Earlier Chidambaram remarked about the economy and said, 'As the Chief Economic Adviser has said many times, the tilt is in favour of capital/promoters and against labour. Wages have stagnated.' 'I may add that because of lack of sufficient competition, consumers are exploited in several sectors, for example, air travel, insurance and pharmaceuticals,' he said.
