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 email@example.com and followed on Twitter @arulouis)
New Delhi, Dec 9 (IANS) The State Bank of India (SBI) on Monday announced a 10 basis points cut in one-year marginal cost of funds-based lending rate (MCLR), effective from December 10. It will bring SBI's one-year MCLR down to 7.90 per cent from 8 per cent.
The bank claimed it continued to be the cheapest loan provider in the country.
The Reserve Bank of India (RBI) earlier this month kept the repo rate at 5.15 per cent, barely 40bps higher from the lowest ever. On a cumulative basis, the RBI has slashed lending rates by 135bps since the start of the year.
Monetary transmission, the RBI at its December policy review meeting, said had been full and reasonably swift across various money market segments and the private corporate bond market.
"As against the cumulative reduction in the policy repo rate by 135bps in February-October, transmission to various money and corporate debt market segments ranged from 137bps (overnight call money market) to 218bps (3-month CPs of non-banking finance companies)," RBI said.
The central bank had also said after the introduction of the external benchmark system, most banks had linked their lending rates to the RBI policy repo rate.