India gives largest soft loan of Rs 32k cr to Bangladesh

April 9, 2017

New Delhi, Apr 9: India on Saturday pledged a soft loan of nearly Rs 32,000 crore for Bangladesh, as the two nations inked 22 pacts for cooperation in diverse areas, including defence, cyber security, nuclear energy and space technology.

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This is the single-largest soft loan New Delhi has pledged to any country at one go.Prime Minister Narendra Modi announced India’s new line of credit of $4.5 billion (Rs 28,921 crore) for development projects in Bangladesh after a meeting with his counterpart from the neighbouring country, Sheikh Hasina, who is currently on a four-day-visit to New Delhi.

He also announced a separate credit line of $500 million (approximately Rs 3,213.50 crore) to help Bangladesh procure military hardware from India. New Delhi’s pledge for soft loans is apparently aimed at dissuading Dhaka from allowing China to expand its footprints and build strategic assets in Bangladesh.

“India has always stood for prosperity of Bangladesh and its people,” Modi said, while addressing a joint press conference with Hasina at the Hyderabad House here.

“This (line of credit) brings our resource allocation for Bangladesh to more than $8 billion over the past six years,” Modi said, adding that the implementation of the defence credit line would be “guided by the needs and priorities of Bangladesh”. “India is certainly our most important neighbour and one of our key development partners,” said Hasina.

The neighbours inked a Memorandum of Understanding (MoU) to lay the framework for bilateral defence cooperation. Two other MoUs were inked for cooperation between the National Defence College, New Delhi, and the Defence Services Staff College at Wellington in Tamil Nadu with counterpart institutions in Dhaka and Mirpur in Bangladesh on national security, development, strategic and operational studies.

The Indian Space Research Organisation and Bangladesh Telecom Regulatory Commission signed an MoU for cooperation in peaceful uses of outer space. This will pave the way for India to offer its space technology to Bangladesh.

The two countries inked an agreement for cooperation in peaceful uses of nuclear energy, along with the inter-agency arrangement for Exchange of Technical Information and Co-operation in the Regulation of Nuclear Safety and Radiation Protection.

India’s Global Centre for Nuclear Energy Partnership signed an agreement with Bangladesh Atomic Energy Commission for cooperation on nuclear power plant projects in the neighbouring country.

The pacts are likely to pave the way for India joining Russia for developing nuclear power plants in energy-starved Bangladesh. India also promised to train 1,500 judicial officers of Bangladesh in its institutes. New Delhi already delivered on its promise of training 1,500 civil servants of Bangladesh in India.

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April 23,2024

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Congress workers protested outside the home of Nilesh Kumbhani, the party's candidate from Gujarat's Surat Lok Sabha seat whose nomination form was rejected due to alleged discrepancies, as he was likely to join the BJP, sources said on Tuesday.

The protest came a day after the BJP's Mukesh Dalal was declared the winner from the party stronghold following the withdrawal of all the other eight candidates in the fray.

The sources said that the protesters called Kumbhani a "traitor" and "killer of democracy", adding that he could join the BJP as early as this week.

Kumbhani's nomination form was rejected after he was unable to present even one of his three proposers before Returning Officer Sourabh Pardhi.

The BJP had raised questions about the discrepancies in the signatures of three proposers in his nomination form.

The nomination form of Suresh Padsala, the Congress' substitute candidate from Surat, was also invalidated, pushing the party out of the poll fray in the BJP stronghold.

In his order, Pardhi said the four nomination forms submitted by Kumbhani and Padsala were rejected because at first sight, discrepancies were found in the signatures of the proposers, and they did not appear genuine.

The Lok Sabha elections in the Surat seat was supposed to take place on May 7.

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News Network
April 25,2024

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The Election Commission of India on Thursday announced that it had taken cognisance of violations to the Model Code of Conduct by both Prime Minister Narendra Modi and Congress leader Rahul Gandhi.

While Modi has indulged in a diatribe against Muslims, without naming them, using terms like 'infiltrators' and 'those with more children', Rahul has been accused of making a false claim about 'rise in poverty'.

Both the BJP and INC have raised allegations of causing hatred and divisions based on caste, religion, language, and community, ANI reported.

While the EC had initially refused to comment on Modi's speeches, sources had told PTI that the commission was 'looking into' the remarks made by the BJP leader.

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News Network
April 13,2024

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New Delhi: Seventeen Indians are on board an Israeli-linked container ship that has been seized by the Iranian military amid heightened tensions between Iran and Israel.

Official sources said India is in touch with Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure the welfare and early release of the Indian nationals.

The Iranian action came amid increasing fears that Tehran may launch an attack on Israeli soil in retaliation to a strike on the Iranian consulate in Syria 12 days ago.

"We are aware that a cargo ship 'MSC Aries' has been taken control by Iran. We have learnt that there are 17 Indian nationals onboard," said a source.

"We are in touch with the Iranian authorities through diplomatic channels, both in Tehran and in Delhi, to ensure security, welfare and early release of Indian nationals," it said.

Reports said Iran's Islamic Revolutionary Guards seized MSC Aries on Saturday morning when it was sailing through the Strait of Hormuz.

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