Vijayawada, July 3 (IANS) The widow of a leader of Andhra Pradesh's ruling YSR Congress Party (YSRCP) who was murdered in Machilipatnam on Monday has demanded arrest of former minister and opposition Telugu Desam Party (TDP) leader Kollu Ravindra.
Alleging that Ravindra is the mastermind behind the criminal conspiracy, M. Bhaskar Rao's widow demanded his immediate arrest.
The former Machilipatnam market yard chairman was stabbed to death by four unidentified persons in broad daylight in the fish market on June 29.
On a complaint by the slain leader's family, police registered a case against Ravindra.
Bhaskar Rao was said to be a close associate of local MLA and Transport Minister Perni Venkataramaiah.
The murder of the backward classes leader sparked protest by the fishermen community, which is demanding justice.
Scores of women from the community have been protesting for the last five days demanding the arrest of those responsible.
Meanwhile, police on Friday arrested three persons in connection with Bhaskar Rao's murder. They included a minor boy.
YSRCP leaders have alleged that TDP President and former Chief Minister N. Chandrababu Naidu was trying to give caste colour to the murder case.
Naidu on Friday alleged that Jagan Mohan Reddy government was targeting backward classes leader Ravindra. He slammed the YSRCP for launching a vindictive campaign against the backward class leaders of the TDP by implicating them in murder cases after having used false ACB, SC/ST atrocities and rape cases.
"False case was filed against Atchannaidu and SC/ST atrocities case was filed against Yanamala Ramakrishnudu. Nirbhaya case was filed against Ayyanna Pathrudu. YCP Ministers attacked Beeda Ravichandra on the floor of Legislative Council. Now, murder case was slapped on another BC leader Kollu Ravindra," Naidu said.
The TDP chief deplored that the YSRCP leaders' habit was to indulge in murder politics but now they were implicating the TDP leaders in those murky and shady activities only with a vengeance against the TDP.
Stating backward classes remain the backbone of the TDP, Naidu said that such leaders were being ruthlessly suppressed and oppressed. Jagan Reddy would have to pay a heavy penalty for this in future and the TDP would stand behind the backward class leaders in this hour of crisis, he said.
New Delhi, Aug 8 (IANS) Public sector banks would need to increase their provisioning buffer factoring in the incremental provisioning requirement on restructured loans and potential NPAs, a report said.
To discourage rampant and unviable restructuring, the RBI has now mandated that banks will be required to make high provisions at 10 per cent on restructured retail/corporate loans (20 per cent on corp loans for banks outside inter-creditor agreement).
According to analysts, higher provisioning cost would deter unwarranted restructuring. But, this would put pressure on the PSBs to accelerate the pace of increasing their provisioning buffer or disallow restructuring, even in genuine case of stress due to the Covid-19 pandemic.
"Assuming Covid-19-induced stressed loans at 10-15 per cent and at least 50 per cent restructured in the worst case, our rough calculations show systemic level immediate additional provisioning cost at 10 per cent could be 50-75 bps," Emkay Global Financial Services said in a report.
This would mean certain banks would fare better while restructuring loans under stress owing to the pandemic. While ICICI/Axis carry contingent provisions of 125-130 bps, HDFCB/KMB/IIB/RBL have around 60 bps. But large PSBs have contingent provisions of just 10-15 bps.
"Thus, we believe that some banks may have to further accelerate their provisioning buffer, factoring in the incremental provisioning requirement on restructured loans and potential NPAs," Emkay said in its report.
The provision required for restructured loans, however, provides for reversal of 50 per cent of provisioning on retail loans in case the borrower pays 20 per cent residual debt, and the balance 50 per cent on payment of another 10 per cent without slipping into NPA.