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Ex-skipper Mohammad Azharuddin to contest on Congress ticket

COUNTERING AP ALLIANCE: With the TDP-TRS alliance looking strong in AP, Azhar’s entry will boost Cong’s confidence.

With the TDP-TRS alliance looking strong in AP, Azhar

Former cricketer Mohammed Azharuddin may contest the coming Lok Sabha polls on a Congress ticket. The Congress leadership has been in touch with him for the past few months.

With the TDP-TRS alliance looking strong in Andhra Pradesh, Azharuddin’s entry will boost the confidence of the Congress.

Azharuddin will be used by Congress to counter the powerful MIM influence on Muslim voters in Hyderabad.

The batsman might stand from his hometown Hyderabad. He has a huge fan-following there despite his premature exit from the world of cricket following allegations of match fixing in the late 90s.

Azhar has kept a low profile since his exit from the Indian cricket scene and runs a successful event management firm.

Speculation was rife in February last year that he may either join or campaign for the Telangana Rastra Samiti in the Greater Hyderabad Municipal Corporation polls. The talk was sparked by the hour-long luncheon meeting he had with TRS president K Chandrasekhar Rao.

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January 20, 2009 Posted by | Cricket, Elections, General, India Related, Politics, Sports | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Banks safe, but economy may slump: PM

Manmohan Singh says tackling inflation remains goverment's priority.

HIS ECONOMIC ADVICE: Manmohan Singh says tackling inflation remains goverment’s priority.

Indians banks are safe and depositors need not worry for their money, Prime Minister Manmohan Singh has told Parliament for the first time after the worldwide financial crisis.

“Our banks, both in the public sector and in the private sector, are financially sound, well capitalised and well regulated. There should be no fear of a failure of any bank,” Singh said in the Lok Sabha on Monday.

“I wish to assure depositors in our banks that their deposits are entirely safe.” Singh, however, warned that the economy might slow down.

“The financial storm has shaken confidence in the system and precipitated a steep decline in stock markets. It has produced a sharp slowdown in economic activity, with the prospect of a prolonged recession in industrialised countries,” he said.

There is enough capital, but “nevertheless, we must be prepared for a temporary slowdown in the Indian economy”.

Singh said the precise impact of the global financial crisis was difficult to estimate but the economic slowdown in developed countries is likely to have an “indirect impact” on the Indian economy.

Some estimates projected GDP growth to reduce to 7.5 per cent in the current year, but “our effort will be to minimise the negative effect of the financial crisis… to return to the growth trajectory of 9 per cent.”

The Prime Minister said the Reserve Bank of India (RBI) and the Government were carefully monitoring the flow of credit and would ensure that the additional liquidity infused into the system translated into actual credit.

“We will not hesitate to do more, if needed. While the capital adequacy ratios of all our banks are well above the Basel norm and above the RBI stipulated norm, government has promised that it will help banks, which have lower ratios, to access funds to increase the capital risk-weighted asset ratio to 12 per cent,” he said.

October 20, 2008 Posted by | Business, General, Politics | , , , , , , , , , , , , , , , | Leave a comment