Saturday, Nov 26, 2022
Outlook.com
politics: karnataka

Watered Down

An RSS group baiting Modi? Read on.

Watered Down
Watered Down
outlookindia.com
-0001-11-30T00:00:00+05:53

Less Than Half...

  • Investors in SSNNL bonds of 1993, for funding the Narmada dam, are upset at the early redemption of the bonds
  • The Rs 3,600 bonds promised Rs 1.11 lakh at the end of 20 years
  • In 2008, the Modi govt legislated to redeem the bonds five years early, offering just Rs 50,000
  • The case is in the SC. An RSS-backed group in Karnataka is opposing Modi on this.

***

When new Karnataka CM D.V. Sadananda Gowda invited his party colleague and Gujarat counterpart Narendra Modi to participate in the Mysore Dussehra festivities in October, he knew perhaps that some ‘progressive types’ would make some noise. But he certainly would not have expected people of his own ilk to protest. Modi skipped the Dussehra function. But by then, this unexpected protest had been made public through a letter to a leading Kannada daily. It was about the early redemption of deep discount bonds of the Sardar Sarovar Narmada Nigam Limited (SSNNL), issued by the Gujarat government in 1993 to raise funds for the Narmada project when agencies like the World Bank and IMF had refused to fund it. T.N. Ramakrishna, an RSS swayamsevak who runs the Rastra Gaurava Samrakshana Parishath, in a letter headlined ‘Narendra Modi should not come to Karnataka’, accused Modi of “causing huge losses” to thousands of retail and institutional investors by forcing the early redemption of the SSNNL bonds.

Outlook Newsletters

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.