'I should take your autograph...' US President Joe Biden to PM Modi

 

Prime Minister Narendra Modi and US President Joe Biden ahead of a G7 working session on food, health and development during the G7 Summit, in Hiroshima, Japan, on Saturday. PTI Photo

ANI

Hiroshima [Japan], May 21

US President Joe Biden on Saturday asked Prime Minister Narendra Modi for his autograph after discovering how he has been managing large crowds, according to sources.

Yesterday during the Quad meeting, President Joe Biden came up to PM Modi and told that he's been facing a challenge with a deluge of requests from prominent citizens to attend the program of PM Modi.

To this, Australian Prime Minister Anthony Albanese who was also present on the occasion added that there is a capacity of 20,000 for the community reception in Sydney but he is still not able to accommodate the requests he is getting.

Both President Biden and PM Albanese complained to PM Modi about their peculiar challenges.

PM Albanese further remembered how at the Narendra Modi stadium, more than 90,000 people welcomed PM Modi during the victory lap.

To this, Joe Biden told PM Modi, "I should take your autograph."  PM Modi is in Japan to attend the Group of Seven (G7) summit in Japan.

The prime minister is visiting the East Asian country at the invitation of his Japanese counterpart, Fumio Kishida.

Japan is hosting the G7 summit as the current chair of the powerful grouping. PM Modi is in Hiroshima for the G7 summit from May 19 to 21.

PM Modi on Saturday said that India will be willing to host the next Quad (Quadrilateral Security Dialogue meeting in 2024.

"We will be happy to host the Quad summit in India in 2024," PM Modi said in the opening remarks of the Quad meeting held on the sidelines of a Group of Seven Summit (G-7) meeting in the Japanese city of Hiroshima.

PM Modi was addressing leaders of the US, Australia, and Japan, which along with Japan constitute the informal strategic forum called the Quadrilateral Grouping whose primary objective is working for a free, open, prosperous, and inclusive Indo-Pacific region.

"Quad will continue to make efforts towards global good, welfare of the people, prosperity and peace," Prime Minister Narendra Modi said.

Earlier this week, the planned summit of Quad leaders from the US, India, Australia, and Japan in Sydney was cancelled after US President Biden withdrew from his visit due to ongoing debt limit talks in Washington.

However, the White on Friday (local time) agreed to hold the summit in Japan's Hiroshima.

"After President Biden had to postpone his trip to Australia, the Quad leaders agreed that they would hold their summit in Hiroshima to ensure that the four leaders could come together to mark the Quad's progress over the past year. So tomorrow, in addition to the G7, President Biden will participate in the third in-person Quad Leaders' meeting with Prime Minister Anthony Albanese of Australia, Prime Minister Kishida Fumio of Japan, and Prime Minister Narendra Modi of India," read a statement by White House Press Secretary Karine Jean-Pierre.

Biden scrapped his planned trip to Sydney as well as a historic visit to Papua New Guinea. The decision -- which prompted Albanese to cancel the scheduled Quad summit -- was seen as a self-inflicted blow to hopes of a more visible US presence in the Indo-Pacific amid its competition with China in the region.

US President Biden thanked Prime Minister Narendra Modi, Australian prime minister Anthony Albanese and Japan's prime minister Fumio Kishida for agreeing to participate in the Quad meeting on the sidelines of the G7 summit here.

The White House press secretary Karine Jean-Pierre in a statement on Friday (local time) said that Quad leaders agreed to hold their summit in Hiroshima to ensure that the four leaders could come together to mark the Quad's progress over the past year.

"Along with sharing strategic assessments, the leaders will welcome new forms of Quad cooperation on secure digital technology, submarine cables, infrastructure capacity building, and maritime awareness," the statement added.  

#Japan #Joe Biden #Narendra Modi

 

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Banking Central | Black money menace, rampant fake currency behind Rs 2,000 note recall

 

These notes have been used rampantly by the fake currency mafia eversince introduced. Besides, going by the data from the IT department, these notes have constituted a major chunk of the black money seized in recent years. Was this the reason the RBI chose to withdraw it at this point?

May 22, 2023 / 09:05 AM IST

 

Rs2000

The biggest headline in the news space towards the end of last week was that the Reserve Bank of India would start withdrawing Rs 2,000 currency notes from May 23. People will have time till September 30 either to exchange or deposit these bills at bank branches or select RBI offices, though they will continue to be a legal tender.

The Rs 2,000-denomination notes were introduced to remonetise the system after the government banned the Rs 500 and Rs 1,000 notes in November 2016 to check a surge in fake currencies.

But, why did the RBI choose to withdraw these bills? There could be a few possible reasons. First, it makes sense to terminate the denomination that isn't in use much compared to other denominations. The total value of these banknotes has declined from Rs 6.73 lakh crore at its peak on March 31, 2018, with 37.3 percent of notes in circulation, to Rs 3.62 lakh crore, constituting only 10.8 percent of notes in circulation on March 31, 2023, shows RBI data. As a percentage of total currency in circulation, these notes have bene declining over the years. Hence, it was only logical to withdraw these notes sooner than later.

Second, the Rs 2,000 notes created a headache for the government and tax authorities as illegal elements used these bills widely. Going by the data from the income tax department, these notes have constituted a major chunk of the black money seized in recent years.

 

 

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