Centre: Nair broke trust, made false statements
Cracking a whip on former chairman of Indian Space Research Organisation (Isro) Mr G. Madhavan Nair, the Centre government has submitted before the Central Administrative Tribunal that the “spaceman” had broken the trust put in him by the government.
“Mr Nair has conducted himself irresponsibly making false and baseless allegations against the government and department of space. He had failed to realise that it is because the various acts of omission and commission on the part of the applicant the government had ordered inquiries. It is his own folly the government initiated action, Centre submitted.
Centre made the submission in response to Mr Madhavan Nair’s plea challenging the government’s decision to bar him from holding government posts for his alleged role in the controversial Antrix-Devas deal and seeking its quashing.
According to Radha Jaishma, under-secretary department of space who field the affidavit, there was no denial of natural justice and the high-powered committee had heard Mr Nair in-person.
***
‘Banks may have to raise more capital’
Age Correspondent
Mumbai, April 7
Finance minister Pranab Mukherjee cautioned banks that going forward, if the GDP growth slows down, there could be some downstream impact on asset quality and they would simultaneously have to raise additional capital to meet the requirements of implementing Basel III, the needs of a growing economy and for meeting the objectives of financial inclusion.
Speaking at the conference organised by the Indian Merchants’ Chamber on “Leveraging Financial Services Sector as the Growth Engine for Transformation,” Mr Mukherjee assured the banks that the government of India is committed to ensure the requisite level of capitalisation of public sector banks (PSBs).
The government has infused more than `20,000 crores in 2010-11 and `12,000 crores in 2011-12 in various PSBs in order to maintain a minimum Tier-I CRAR at 8 per cent and also to increase the government of India holding in PSBs.
Talking about the see-saw recovery of the global economy he said it could cause some domestic constraints. The challenge will to maintain the momentum of growth against the background of deteriorating global growth rates, sovereign debt crisis in Europe and the possibility of systemic impact of crisis in international financial markets.
Post new comment