National
Yechury attacks government on ‘bail-in’ clause in FRDI Bill
New Delhi, Dec 1 (IANS) CPI-M on Friday attacked the Modi government on the proposed “bail-in” clause in a financial legisation and alleged it will be used to pay the written-off loans of rich defaulters “by stealing small savers’ money”.
CPI-M General Secretary Sitaram Yechury tweeted that the bail-in clause — under which creditors and depositors absorb some of the losses if a financial institution fails — would limit the amount of the “hard-earned” money depositors can get back from banks and will have serious consequences on those with bank savings.
“Government planning a ‘bail-in’, to limit amount of own hard earned money that depositors can get back from banks. This will have serious consequences on those with bank savings,” Yechury said.
“After writing off over Rs 2 lakh crore for rich defaulters, with a ‘bail-in’ clause, small savers money will now be stolen (to) pay for it? The jumla was of Rs 15 lakh in each account, and now this,” he added.
Asked about the proposed clause in the Financial Resolution and Deposit Insurance (FRDI) Bill, Finance Minister Arun Jaitley said the drafting process was still on and the bill had to go through the overall drafting process.
“Parliamentary Committee can offer a suggestion and thereafter it has to come back to the Cabinet. The Cabinet will put it in public domain and ask for suggestions as well. So I think a lot of corrections will take place,” Jaitley told reporters here.
The CPI-M leader also attacked the government on its promise of doubling farmers’ income by 2022 and said the GDP data showed the crisis in the farm sector.
“Instead of jumlas about doubling farmers’ income by 2022, this government should tell us what steps it plans to take to ease farmers’, their families’ pain and give them their rightful due.
“Instead of backslapping, the government should admit the failure of jumlanomics,” Yechury said.
–IANS
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National
Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.