Less Than Half...
- Investors in SSNNL bonds of 1993, for funding the Narmada dam, are upset at the early redemption of the bonds
- The Rs 3,600 bonds promised Rs 1.11 lakh at the end of 20 years
- In 2008, the Modi govt legislated to redeem the bonds five years early, offering just Rs 50,000
- The case is in the SC. An RSS-backed group in Karnataka is opposing Modi on this.
When new Karnataka CM D.V. Sadananda Gowda invited his party colleague and Gujarat counterpart Narendra Modi to participate in the Mysore Dussehra festivities in October, he knew perhaps that some ‘progressive types’ would make some noise. But he certainly would not have expected people of his own ilk to protest. Modi skipped the Dussehra function. But by then, this unexpected protest had been made public through a letter to a leading Kannada daily. It was about the early redemption of deep discount bonds of the Sardar Sarovar Narmada...