By Arul Louis
United Nations, Aug 14 (IANS) While stressing direct dialogue between New Delhi and Islamabad, Poland's Foreign Minister Jacek Czaputowicz, whose country is the President of the UN Security Council, said on Tuesday that his ambassador will likely hold consultations on a request from Pakistan to take up the Kashmir issue.
Czaputowicz told reporters, "We are in favour of dialogue between Pakistan and India to sort out the differences."
"Today in the morning I was informed that the Security Council received the letter from the Ambassador of Pakistan. I think that the Security Council will discuss the issue and (take a) proper decision on how to proceed," he said.
Poland's Permanent Representative Joanna Wronecka "will probably start consultations" about the request with other Council members, he added.
Pakistan had asked the Council to hold a briefing on the Kashmir issue.
Czaputowicz said that he had had phone conversations with India's External Affairs Minister S. Jaishankar and Pakistan's Foreign Minister Shah Mehmood Qureshi.
He said, "We expressed concern over the current tension between India and Pakistan resulting from the proposed change in the status of Jammu and Kashmir. Poland believes that the dispute can only be resolved by peaceful means."
"As a non-permanent member of the Security Council, Poland stands ready to engage in preventing actions affecting the security situation," he said, adding, "We hope that both countries can work out the differences and find a beneficial solution. The strained relations between India and Pakistan negatively affect the South Asia region and may lead to serious political and economic consequences."
Czaputowicz said Poland fully supported the stand of the European Union (EU) and the statement issued by the EU High Representative for Foreign Affairs, Federica Mogherini.
The EU statement reaffirmed its support for a bilateral resolution of the dispute between India and Pakistan.
An EU statement issued after she had spoken on Thursday with Jaishankar and Qureshi said, "The European Union supports a bilateral political solution between India and Pakistan over Kashmir, which remains the only way to solve a long-lasting dispute that causes instability and insecurity in the region."
It added, "In both calls, she underlined the importance of avoiding an escalation of tensions in Kashmir and in the region. To this end, dialogue between India and Pakistan through diplomatic channels is crucial."
(Arul Louis can be reached at firstname.lastname@example.org and followed on Twitter @arulouis)
Mumbai, Aug 6 (IANS) The Reserve Bank of India on Thursday extended a scheme whereby stressed MSME borrowers will become eligible for restructuring their debt, provided their accounts with lenders were classified as 'standard' as on March 1, 2020.
Accordingly, the existing loans to MSMEs classified as 'standard' will be re-structured without a downgrade in the asset classification.
"A restructuring framework for MSMEs that were in default but 'standard' as on January 1, 2020 is already in place," Das said while delivering the decision of the MPC on monetary policy.
"The scheme has provided relief to a large number of MSMEs. With COVID-19 continuing to disrupt normal functioning and cash flows, the stress in the MSME sector has got accentuated, warranting further support."
According to the RBI Governor, this restructuring will have to be implemented by March 31, 2021.
The Reserve Bank placed eligibility conditions such as the limit of aggregate exposure, including non-fund based facilities, of banks and NBFCs to the borrower should not exceed Rs 25 crore as on March 1, 2020.
Besides, the borrowing entity is GST-registered on the date of implementation of the restructuring. However, this condition will not apply to MSMEs that are exempt from GST-registration.