1. Punjab: Ajnala incident could have been avoided…, says Waris Punjab De chief Amritpal Singh
2. India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi
3. India abstains in U.N. vote underscoring need for just, lasting peace in Ukraine
4. G20 nations back India’s stand on cryptocurrencies: Finance minister at FMCBG
5. Blinken to participate in Quad foreign ministers meet in Delhi

What Else

6. In another targeted killing, Kashmiri Pandit shot dead in Pulwama
7. BVR Subrahmanyam takes charge as NITI Aayog’s Chief Executive Officer
8. Kerala farmer, who absconded from govt delegation in Israel, traced: Minister
9. Odisha police arrest officer at DRDO’s test centre for sharing defence info to Pakistan
10. Nepal: ‘Prachanda’ ditches KP Oli for Dueba in Nepal Presidential election
11. Sri Lanka forex down to USD 500 million, postpones local polls
12. Pakistan: US ‘deeply concerned’ about Chinese loans to Pakistan: ‘May be used for…’
13. Pakistan: Govt agrees to increase interest rate by 200bps
14. At least 4 killed in Balochistan’s Barkhan blast

Punjab: Ajnala incident could have been avoided…, says Waris Punjab De chief Amritpal Singh

• Thousands of supporters of Amritpal Singh, (Khalistan sympathizer) held a massive protest in Amritsar against the arrest of his aide Lovepreet Singh Toofan.
• The supporters of Lovepreet Singh Toofan were released after a clash with police personnel at the gate of Ajnala Police station in Amritsar.
• The supporters holding swords and guns in their hands broke through police barricades erected outside Police Station.
• Punjab Police had said on Fri that the demonstrators had used the holy Guru Granth Sahib as a shield and attacked police personnel, leaving six of them injured.
• The Akal Takht’s acting Jathedar, head of the Sikh clergy, set up a committee on Sat to look into the practice of carrying the holy Guru Granth Sahib to protest sites. (here)
• Lovepreet Toofan was released after talks with the police.
• The Honorary Consulate of India in Australia’s Brisbane was targeted by Khalistani supporters who raised the Khalistan flag at the office
• This is the latest in a series of radical activities against the Indian community in the country, according to a media report on Fri.
• The incident came days after External Affairs Minister S Jaishankar visited the country and emphasized the need for vigilance against “radical activities” targeting India
• The Honorary Consulate of India located on Swann Road in the Taringa suburb of Brisbane was targeted by Khalistan supporters on the night of Feb 21.
• The incident comes following the vandalism of three Hindu temples in Australia by Khalistani supporters. (here)
• In a massive clash among gangster groups in Punjab’s Goindwal jail, two inmates accused of Sidhu Moosewala’s murder died on Sunday.
• The deceased have been identified as Mandeep Singh and Manmohan Singh.
• Another convict, identified as Keshaw, has received injuries and has been admitted to the hospital. All three of them have been accused in the Sidhu Moosewala murder case.
• Tufan was accused of providing vehicles to the shooters of Moosewala.
• 28-year-old singer Sidhu Moosewala was shot dead on May 29, 2022, a day after the state govt curtailed his security cover. (here)

India ready to contribute to any peace process for resolving Ukraine crisis, says PM Modi

• India has been insisting on resolving the Ukraine crisis through dialogue and diplomacy from the start and is ready to contribute to any peace process.
• PM Modi said on Sat at a joint press briefing in New Delhi with German Chancellor Olaf Scholz, who began his two-day visit to the country earlier in the day.
• “….India is ready to contribute to any peace process,” Modi said in the media briefing.
• Deepening of trade and defense ties remains in focus as Scholz visits India for the 1^st time after assuming the present charge in Dec 2021.
• His arrival, a day after the 1^st anniversary of the Ukraine war, signals Delhi’s growing position to Western powers, seeking backing for their opposition to Russia’s invasion.
• In his remarks, Modi also emphasized action against terrorism and the climate crisis.
• “Apart from being our largest trading partner in Europe, Germany is also an important source of investment in India in the last few years.
• Recalling his last visit to India, Scholz said, “A lot has changed since I visited India last time. India is indeed developing. I and PM Modi have similar ideas. … I am pleased that India has the presidency of G20 this year.”
• Scholz said on Sun that his administration will make it easier for IT experts from India to obtain work visas.
• The plan, according to initial inputs, would entail making it easier for skilled IT workers to work and live in Germany with their families.
• “We will need many skilled workers to meet the demand for software development in Germany.” (here)
• Germany to pursue $5.2 billion submarine deal: Scholz will reportedly pursue a $5.2 billion deal with India to jointly build 6 conventional submarines during his visit.
• New Delhi is aiming to curb China’s growing influence in the Indian Ocean and, hence, the replacement of India’s aging submarine fleet becomes important.
• India’s 11 of 16 conventional submarines are more than 2 decades old. The Indian Navy also has two indigenous nuclear-powered submarines.
• So far, there’s no official confirmation from either govt: (here)

India abstains in U.N. vote underscoring need for just, lasting peace in Ukraine

• India abstained in the UNGA on Thu on a resolution that underscored the need to reach as soon as possible a “comprehensive, just and lasting peace” in Ukraine.
• The 193-member UNGA adopted the draft resolution, put forward by Ukraine and its supporters.
• The resolution, which got 141 votes in favor and 7 against, “underscores the need to reach, as soon as possible, a comprehensive, just and lasting peace in Ukraine in line with the principles of the Charter of the UN.” India was among the 32 countries that abstained.
• In the year since Russia’s Feb 24, 2022 invasion of Ukraine, several UN resolutions – in the UNGA, UNSC, and UNHRC, have condemned the invasion
• New Delhi has also urged that all efforts be made for an immediate cessation of hostilities and an urgent return to the path of dialogue and diplomacy. (here)

• President Volodymyr Zelensky said on Fri he was planning to meet China’s Xi Jinping after Beijing called for urgent peace talks to end the war in Ukraine.
• The Ukrainian president also said he was doing his best to prevent Chinese arms supplies to Russia to avoid any risk of “World War III.”
• “I am planning to meet with Xi Jinping,” he told reporters as Ukraine marked the first anniversary of Russia’s invasion. “This will be important for world security,” he said.
• Zelensky did not say when or where he was planning to meet Xi but expressed hope that China would support a “just peace” and Ukraine. (here)

G20 nations back India’s stand on cryptocurrencies: Finance minister at FMCBG

• Fin Min N Sitharaman and Reserve Bank of India Governor Das arrive to address a news conference at the end of the G20 finance ministers’ and Central Bank governors’.
• On a specific query — whether the G20 favors a ban on private cryptocurrencies — she said: “…anything out of the central bank is not currency.”
• Briefing the media, Sitharaman said members also supported India’s view that the technology behind cryptocurrencies could be useful for various purposes.
• The FMCBG meeting was the first major ministerial engagement under G20, of which India holds the presidency for now.
• Reserve Bank of India governor Shaktikanta Das said the delegates took interest in the central bank’s digital currency pilot projects in some countries, including India. (here)
• FMs of the world’s largest economies were unable to agree on a joint communique because China and Russia opposed the inclusion of text condemning the war in Ukraine
• The outcomes of the G20 FMCBG meeting were summed up in a chair’s summary issued by India, the president of the grouping.
• The move reflected the impact of deep divisions created by Russia’s invasion
• “They didn’t want those two paragraphs to be in the communique… it was agreed [upon] by all countries except for these two,” Sitharaman said. (here)
• Russia in a statement says India under its chairmanship played a “constructive role” and “strove for a fair consideration of positions of all the countries”

Blinken to participate in Quad foreign ministers meet in Delhi

• During his visit to Delhi in Mar, US Secy of State Antony J Blinken will participate in the G20 FM’s meeting, discuss the India-US strategic partnership with EAM Jaishankar.
• Blinken will participate in a Quad FMs meeting and then head to Raisina Dialogue, where all 4 Quad FMs will together address a panel for the 1^st time, Donald Lu, asst Secy of State for South and Central Asia has said.
• Lu added that India and the US have also had “serious conversations on China”, these will continue during Blinken’s visit.
• She said that the US is particularly concerned about how China’s loans to India’s neighbors, going through a debt crisis, may be used for “coercive leverage”.
• The US focus indicates that differences over the framing of the war in Ukraine will continue to be a key obstacle in arriving at joint statements at G20 meetings, as seen at the recent finance ministers meeting held in Bengaluru. (here)

In another targeted killing, Kashmiri Pandit shot dead in Pulwama

• Terrorists shot dead a Kashmiri Pandit belonging to the in Pulwama, J&K on Sun, the police said, in another targeted killing in the Valley.
• The terrorists fired upon the man, identified as Sanjay Sharma working as an armed guard in his village, in the Achan area of the S Kashmir district in the morning hours.
• He was rushed to a hospital where he died.
• The area has been cordoned off and a hunt launched, the officials said.
• Reacting to the incident, National Conference leader Omar Abdullah said that he was “deeply saddened to hear of the demise of Sanjay Pandith”. (here)
• The J&K administration on Sun dismissed 3 employees – 2 from Kashmir and 1 from Jammu division – under Article 311 of the Constitution for their involvement in anti-national activities
• With these dismissals, the number of employees whose services have been terminated since 2019 has risen to 47, the officials said. (here)

BVR Subrahmanyam takes charge as NITI Aayog’s Chief Executive Officer

• B.V.R. Subrahmanyam joined as Chief Executive Officer of the NITI Aayog on Sat, an official said.
• An Indian Admin Service officer (1987 batch, CG), he has held important assignments over the last 3 decades in MP, CG, and J&K, along with a stint at the World Bank.
• He has been the Secy, of the Ministry of Commerce; Chief Secy of J&K; Principal Secy of Chhattisgarh, and has held positions in the PM’s Office. (here)

Kerala farmer, who absconded from govt delegation in Israel, traced: Minister

• A farmer from Kerala, Biju Kurian, who was reported missing from an official delegation to Israel 10 days ago, has been traced and he will be returning on Mon, state minister P Prasad said on Sun.
• “He reportedly told his brother that he extended his tour to visit some of the holy places in the country. We will hear him in detail before taking any action,” Prasad said.
• Earlier last week, the minister had said that the incident had invited enough embarrassment to the state govt.
• The govt approached the External Affairs Ministry to cancel his visa and passport.
• He telephoned his wife saying he was safe and not to search for him. (here)

Odisha police arrest officer at DRDO’s test centre for sharing defence info to Pakistan

• Police on Fri arrested an officer of the Integrated Test Range under the DRDO, in the Chandipur area of Balasore, Odisha for allegedly leaking sensitive technical and classified defense information regarding a missile test to an alleged Pakistani agent.
• Baburam Dey, 51, who works as technical officer-C in the Telemetry department of ITR was arrested in Balasore after surveillance of his 2 phone numbers revealed that he shared classified information regarding missile tests as well as photographs.
• Officials said that Dey remains present at his assigned work at ITR at the time of testing of almost all missiles, and cluster bombs by DRDO and other defense agencies.
• He also maintains contact with DRDO staff/scientists and is exposed to sensitive technical information related to a missile launch, they said. (here)

[NEIGHBORHOOD]

Nepal: ‘Prachanda’ ditches KP Oli for Dueba in Nepal Presidential election

• Nepal’s 8 political parties have decided to back Nepali Congress leader Ram Chandra Poudel for the country’s presidency scheduled for March 9.
• Poudel, 78, is likely to succeed incumbent Bidya Devi Bhandari as the next president.
• The election to the post of president is likely to change the current power equation as PM Pushpa Kamal Dahal ‘Prachanda’ has decided not to support the CPN (UML)
• Meanwhile, the secretariat meeting of the CPN (UML) chaired by KP Oli has decided to field party vice chairman Subhas Nembang as its candidate for the presidential poll.
• The CPN (UML) will take the final decision on withdrawing support from the federal govt and the ruling coalition after the election. (here)

Sri Lanka forex down to USD 500 million, postpones local polls

• With usable foreign exchange reserves plummeting to $500 million, the Mar 9 local elections have been postponed due to lack of funds, as there is no sign of China coming on board with IMF and Paris Club on debt restructuring for the Island nation.
• The new dates for local elections are expected to be announced on March 3.
• Although the Wickremesinghe govt reveals a kitty of $2 billion as FX reserves, some $1.5 bn is from China, which can’t be used in any circumstances.
• India on the other hand has offered full support to Sri Lanka based on the IMF’s recommended debt sustainability analysis.
• While Lanka may be looking towards Beijing for support for a 10-year debt moratorium but China’s problem is that if it supports Colombo then it will also have to help others.
• Even with its favorite client, Pakistan, China has only refinanced $700 million worth of past debt without any grant in aid or taking a haircut to help out Pakistan. (here)

Pakistan: US ‘deeply concerned’ about Chinese loans to Pakistan: ‘May be used for…’

• The US is deeply concerned that the loans being given by China to India’s immediate neighborhood – Pakistan and Sri Lanka – may be used for coercive leverage, Lu said.
• Donald Lu, Assistant Secretary of State for South and Central Asia, told reporters ahead of the India trip of Secretary of State Antony Blinken.
• Lu said that the US is talking to countries in the region comprising India to take their own decisions and not feel compelled by any outside partner.
• Earlier in the day, Pakistani Fin Min Ishaq Dar announced that the Board of China Development Bank has approved a $700 million credit facility to the country. (here)
• FATF’s reminder to Pakistan: The Asian affiliate of the FATF continues to monitor Pakistan’s actions to strengthen its system to counter terror financing
• Also, it is important for the country to deliver on all its commitments, the FATF president T Raja Kumar of Singapore said on Fri.
• Kumar of Singapore made the remarks when he was asked whether Hizbul Mujahideen chief Syed Salahuddin’s activities in Rawalpindi went against Pak’s commitments
• The Asia Pacific Group (APG) is a FATF-style regional body with 41 member countries that monitors money laundering and terror financing. (here)
• PM Shehbaz Sharif has asked his ministers and advisers to let go of their salaries, benefits, and luxury as part of an austerity drive aimed at saving PKR 200 bn a year.
• According to Dawn, the belt-tightening comes as the govt is trying to resume a stalled loan program of the IMF to secure funds worth $1 billion.
• The premier said an agreement with the Fund was in its final stages. (here)

Pakistan: Govt agrees to increase interest rate by 200bps

• Pakistan has accepted another pre-condition of the IMF for the release of $1.1 billion in critical funding as the govt agreed to increase the policy (interest) rate which stands at 17% by 2% or 200 basis points.
• The increase is based on rates the govt set in the auction to raise domestic debt.
• This will push the interest rate to 19%, just below the previous record of 19.5% set in Oct 1996.
• (Sources)- a technical level discussion had virtually taken place between Islamabad and the IMF review mission.
• There was an expectation that Islamabad would increase the interest rate by 2%.
• It was noted that most of the pre-conditions of the IMF had been fulfilled.
• The discussion on some issues of the power sector was in the final stage after which the staff-level agreement with the IMF would be reached. (here)
• Pakistani currency maintained its uptrend for the third consecutive working day on Friday and recovered to around Rs260 to a dollar in the inter-bank market.

At least 4 killed in Balochistan’s Barkhan blast

• At least 4 people were killed and 12 injured on Sun after a bomb blast ripped through the Rakhni market in Balochistan’s Barkhan district, police said.
• The blast occurred after a bomb strapped to a motorcycle parked outside a barber’s shop exploded.
• Security personnel has surrounded the area and an investigation is presently underway.
• On the other hand, the rescue team has shifted the injured to Rakni Hospital where an emergency has been imposed. At least one victim is said to be in a critical state. (here)