Barely two months after the government announced major changes in foreign direct investment (FDI) norms, the Reserve Bank of India (RBI) and the Finance Ministry have sought a comprehensive review of the new guidelines on several contentious issues cutting across sectors that include banking, financial services, insurance, real estate, infrastructure and airlines.
The ministry fears that the new guidelines could open up the floodgates for foreign investment in several sensitive sectors including gambling, agricultural plantations and multi-brand retail, where FDI is currently prohibited.
The new norms —specified under the government’s Press Notes 2, 3 and 4, 2009---state that an entity that is controlled and owned by an Indian with less than 50 per cent foreign investment can invest downstream in any sector.
In an internal note on the recent changes in FDI policy, a copy of which is available with the Hindustan Times, the ministry has expressed fears that in “one sweep any sectoral gap of 49 per cent and below has become meaningless.”
“Whether this stance has been approved as such or is it an unintended liberalisation is not clear,” the note stated.
The ministry also wants a method to be built in where violation of sectoral caps can be detected through a standard filing system either with the RBI or any sector regulator.
“For downward investment, there is no filing at all done or mandated with the RBI and therefore no violation can be detected,” the note said.
While the new norms have been specified and approved by the Cabinet, these will find legal sanctity only after they are notified under the Foreign Exchange Management Act (Fema). The ministry says contentious issues must be clarified before the notification is issued.
In a recent letter to the government, the RBI has also echoed similar opinion. It said under the new norms many private banks may turn “foreign owned (though Indian controlled).”
Among the affected banks are ING Vysya, ICICI Bank, Development Credit Bank, Yes Bank, IndusInd Bank, Federal Bank and HDFC Bank.
“This will have implications not only on the business model of the banks but also for the investee companies,” it said. So far there are only two categories of banks-- Indian banks and foreign banks. There are separate norms on priority sector lending, market access etc for the two categories.
A new hybrid category would create difficulty in compliance with minimum capitalisation norms. Moreover, in the insurance sector, where FDI is capped at 26 per cent, needs more clarity and uniformity, the RBI has said.
The RBI is also against inclusion of foreign currency convertible bonds (FCCBs) as foreign investment as this could lead to ambiguities because bonds are treated as borrowings until conversion into shares.
Sunday, April 19, 2009
Congress works for all sections of society : Sonia Gandhi
Congress President Sonia Gandhi while addressing a rally in Bhadrak(Orissa) said that the Congress had worked for all sections of society without paying attention to caste and community. She said that this was the party’s motto and she would be working on the same line in the future. She said that Congress leaders like Rajivji and Indiraji gave their supreme sacrifice for the sake of country...
Congress President said that when in 2004 Manmohan Singh government took over the charge in Delhi, the government had done historic work for the poor since then. She cited Rural Employment Guarantee Scheme and Mid-day meal for school going children as few of the examples. She said that through Employment Guarantee Scheme millions of needy people had got job. She said that Mid-day meal is provided to around fifteen crores children across the country.
She criticized BJP for spreading communalism in the country. She said that during NDA’s rule there had been attack on our Parliament and terrorists were escorted to Kandhar. Congress President praised Prime Manmohan Singh for putting lot of pressure on Pakistan and said that he had all the qualities to hold the top job.
She sought support of the people for a next term at Centre, so that the party could serve the poor.
Congress President said that when in 2004 Manmohan Singh government took over the charge in Delhi, the government had done historic work for the poor since then. She cited Rural Employment Guarantee Scheme and Mid-day meal for school going children as few of the examples. She said that through Employment Guarantee Scheme millions of needy people had got job. She said that Mid-day meal is provided to around fifteen crores children across the country.
She criticized BJP for spreading communalism in the country. She said that during NDA’s rule there had been attack on our Parliament and terrorists were escorted to Kandhar. Congress President praised Prime Manmohan Singh for putting lot of pressure on Pakistan and said that he had all the qualities to hold the top job.
She sought support of the people for a next term at Centre, so that the party could serve the poor.
BJP speaks and acts differently on terror: PM
Taking on the BJP for its charge that the Congress is "soft on terror", Prime Minister Manmohan Singh on Sunday said that there is a "lot of difference and contradictions" in the way the BJP speaks about and "actually acts" on terrorism.
Speaking at a poll rally in Amingaon on the outskirts of Guwahati, the prime minister also made an indirect reference to the Bharatiya Janata Party (BJP) of being a communal party trying to divide the country on religious lines.
Referring to the 26/11 attacks, he said: "During the Mumbai terror attacks our government handled the situation very firmly? but did the opposition government at the centre (BJP-led National Democratic Alliance) ever take such bold steps?
"I don't have to elaborate on that? there is lot of difference and contradictions in the way the BJP speaks and the way they actually act," he said.
Hinting at the BJP for communalizing politics, he said: "There are some parties dividing the country on caste, creed, and religious lines and this is dangerous for our country. We need to be careful and prevent such divisive forces to break the country's secular fabric by indulging in hate campaigns and mixing religion with politics."
"The Congress is the only party that stands for secularism and hence we appeal to the people of India to reject parties with communal overtones."
The prime minister also appealed to militant groups in the northeast to come for peace talks, and especially urged the outlawed United Liberation Front of Asom (ULFA) to join the mainstream.
"Our doors for peace talks are open and we want the ULFA to shun the path of violence and come and hold peace talks with us. We welcome the move by a section of the ULFA to have already joined the peace process by entering into a ceasefire," Mr. Singh said.
The prime minister was campaigning for the Congress party candidate for the Guwahati parliamentary seat Robin Bordoloi.
--------------------------------------------------------------------------------
Speaking at a poll rally in Amingaon on the outskirts of Guwahati, the prime minister also made an indirect reference to the Bharatiya Janata Party (BJP) of being a communal party trying to divide the country on religious lines.
Referring to the 26/11 attacks, he said: "During the Mumbai terror attacks our government handled the situation very firmly? but did the opposition government at the centre (BJP-led National Democratic Alliance) ever take such bold steps?
"I don't have to elaborate on that? there is lot of difference and contradictions in the way the BJP speaks and the way they actually act," he said.
Hinting at the BJP for communalizing politics, he said: "There are some parties dividing the country on caste, creed, and religious lines and this is dangerous for our country. We need to be careful and prevent such divisive forces to break the country's secular fabric by indulging in hate campaigns and mixing religion with politics."
"The Congress is the only party that stands for secularism and hence we appeal to the people of India to reject parties with communal overtones."
The prime minister also appealed to militant groups in the northeast to come for peace talks, and especially urged the outlawed United Liberation Front of Asom (ULFA) to join the mainstream.
"Our doors for peace talks are open and we want the ULFA to shun the path of violence and come and hold peace talks with us. We welcome the move by a section of the ULFA to have already joined the peace process by entering into a ceasefire," Mr. Singh said.
The prime minister was campaigning for the Congress party candidate for the Guwahati parliamentary seat Robin Bordoloi.
--------------------------------------------------------------------------------
The Hurriyat Conference: Born to follow, not lead
It was not unexpected that the Mirwaiz-led All Parties Hurriyat Conference would reverse its stand on the elections and not call for boycott. After all, only a few months ago, the Hurriyat leaders had been humiliated when people ignored their boycott call, turning up in large numbers to cast their votes in the Assembly elections.
The other factor that narrowed the choice for the separatist amalgam was Sajjad Lone’s plunge into politics. But Lone, the chairman of the People’s Conference, and Mirwaiz differ a little when it comes to their philosophies.
Sajjad, along with his brother Bilal Gani Lone, was very much a part of the Mirwaiz-led Hurriyat Conference. That is, till he fell out with the Mirwaiz over a personal issue in 2005. The story goes that Mirwaiz participated in the funeral prayers of the militant (Rafiq Ahmad Dar alias Ladri of Al Ummer Mujahideen) who was accused of killing Sajjad’s father, Abdul Gani Lone — the founder leader of the Hurriyat conglomerate. But Bilal, Sajjad’s elder brother continued his association with the Mirwaiz. Initial acrimony apart, both Sajjad and Bilal are now on cordial terms.
It is perhaps against this backdrop that the acting chairman of the Mirwaiz-led Hurriyat faction, Molvi Abbas Ansari, defended Sajjad’s decision, comparing it to that of Shaikh Mohammad Abdullah’s — who contested elections after heading the Plebiscite Front.
But this is not the first time separatist leaders have been led by the situation. Last year, reacting to the economic blockade of Kashmir that was enforced by Jammu rioters during the Amarnath land row, Syed Ali Geelani called for a cross LOC march in August. Mirwaiz had then said that the march would be undertaken only after August 15. Meanwhile, the JKLF chief, Yasin Malik chose to go on a hunger strike.
While traders and fruit growers defied Geelani, Mirwaiz and Malik and by going ahead with the march on August 11. Consequently, the separatist leaders were left with little choice but to fall in line. But the march was stopped at Chahal village near Uri after the police opened fire killing Shaikh Abdul Aziz, People’s League chief and three others.
The Hurriyat Conference, a combination of more than two-dozen groups, was formed in 1993. The agenda was to provide political leadership to the armed struggle launched by the Kashmiri youth in the late 80s.
Back then, Robin Raphael, an American diplomat was a frequent visitor to Kashmir. Before the formation of the Hurriyat Conference, she had extensive meetings with separatist leaders, who were heading individual outfits. A common impression, confirmed by separatist leaders privately, was that Raphael had motivated separatists to get together under one banner.
“The Hurriyat was formed to lead the movement from the front and keep initiative with itself”, says Tahir Mohiuddin, senior journalist and editor of the Urdu weekly Chattan. “But it failed bitterly,” adds Mohiuddin, “Not a single instance can be cited where Hurriyat leaders have played a lead role.” “The initiative,” he says, “ always remained either with militants or Pakistan or the common people. Hurriyat leaders had simply to follow these initiatives.”
After militants issued a diktat against casting votes, the Hurriyat leaders had to campaign against polling in the 1996 parliamentary and Assembly elections. The Hurriyat continued with this stand in later elections as well. However, with the dwindling influence of militants, the Hurriyat changed its position.
In the 2002 Assembly elections, the People’s Conference was accused of fielding proxy candidates, and Syed Ali Geelani sought the expulsion of both, Sajjad and Bilal from the amalgam. Mirwaiz, however, stood by the Lone brothers. And this led to division in the separatist conglomerate with Syed Ali Geelani forming a rival faction.
Altaf Hussain, BBC’s north India correspondent is of the view that “the mailing address of the separatist movement in Kashmir has been the Hurriyat. It has never led the movement. Nor has it ever had the potential to change the course of events.” Hussain adds that people have associated themselves with the platform because of its ideology. “Otherwise, none of the leaders has ever inspired the ordinary people,” he adds.
Ubair Shah, a business professional, agrees. “People don’t take them (the separatist leaders) seriously. They held several rounds of talks with New Delhi. And it made little difference. If tomorrow they decide to take part in elections, it would be just another day for them.”
The other factor that narrowed the choice for the separatist amalgam was Sajjad Lone’s plunge into politics. But Lone, the chairman of the People’s Conference, and Mirwaiz differ a little when it comes to their philosophies.
Sajjad, along with his brother Bilal Gani Lone, was very much a part of the Mirwaiz-led Hurriyat Conference. That is, till he fell out with the Mirwaiz over a personal issue in 2005. The story goes that Mirwaiz participated in the funeral prayers of the militant (Rafiq Ahmad Dar alias Ladri of Al Ummer Mujahideen) who was accused of killing Sajjad’s father, Abdul Gani Lone — the founder leader of the Hurriyat conglomerate. But Bilal, Sajjad’s elder brother continued his association with the Mirwaiz. Initial acrimony apart, both Sajjad and Bilal are now on cordial terms.
It is perhaps against this backdrop that the acting chairman of the Mirwaiz-led Hurriyat faction, Molvi Abbas Ansari, defended Sajjad’s decision, comparing it to that of Shaikh Mohammad Abdullah’s — who contested elections after heading the Plebiscite Front.
But this is not the first time separatist leaders have been led by the situation. Last year, reacting to the economic blockade of Kashmir that was enforced by Jammu rioters during the Amarnath land row, Syed Ali Geelani called for a cross LOC march in August. Mirwaiz had then said that the march would be undertaken only after August 15. Meanwhile, the JKLF chief, Yasin Malik chose to go on a hunger strike.
While traders and fruit growers defied Geelani, Mirwaiz and Malik and by going ahead with the march on August 11. Consequently, the separatist leaders were left with little choice but to fall in line. But the march was stopped at Chahal village near Uri after the police opened fire killing Shaikh Abdul Aziz, People’s League chief and three others.
The Hurriyat Conference, a combination of more than two-dozen groups, was formed in 1993. The agenda was to provide political leadership to the armed struggle launched by the Kashmiri youth in the late 80s.
Back then, Robin Raphael, an American diplomat was a frequent visitor to Kashmir. Before the formation of the Hurriyat Conference, she had extensive meetings with separatist leaders, who were heading individual outfits. A common impression, confirmed by separatist leaders privately, was that Raphael had motivated separatists to get together under one banner.
“The Hurriyat was formed to lead the movement from the front and keep initiative with itself”, says Tahir Mohiuddin, senior journalist and editor of the Urdu weekly Chattan. “But it failed bitterly,” adds Mohiuddin, “Not a single instance can be cited where Hurriyat leaders have played a lead role.” “The initiative,” he says, “ always remained either with militants or Pakistan or the common people. Hurriyat leaders had simply to follow these initiatives.”
After militants issued a diktat against casting votes, the Hurriyat leaders had to campaign against polling in the 1996 parliamentary and Assembly elections. The Hurriyat continued with this stand in later elections as well. However, with the dwindling influence of militants, the Hurriyat changed its position.
In the 2002 Assembly elections, the People’s Conference was accused of fielding proxy candidates, and Syed Ali Geelani sought the expulsion of both, Sajjad and Bilal from the amalgam. Mirwaiz, however, stood by the Lone brothers. And this led to division in the separatist conglomerate with Syed Ali Geelani forming a rival faction.
Altaf Hussain, BBC’s north India correspondent is of the view that “the mailing address of the separatist movement in Kashmir has been the Hurriyat. It has never led the movement. Nor has it ever had the potential to change the course of events.” Hussain adds that people have associated themselves with the platform because of its ideology. “Otherwise, none of the leaders has ever inspired the ordinary people,” he adds.
Ubair Shah, a business professional, agrees. “People don’t take them (the separatist leaders) seriously. They held several rounds of talks with New Delhi. And it made little difference. If tomorrow they decide to take part in elections, it would be just another day for them.”
The Hurriyat Conference: Born to follow, not lead
It was not unexpected that the Mirwaiz-led All Parties Hurriyat Conference would reverse its stand on the elections and not call for boycott. After all, only a few months ago, the Hurriyat leaders had been humiliated when people ignored their boycott call, turning up in large numbers to cast their votes in the Assembly elections.
The other factor that narrowed the choice for the separatist amalgam was Sajjad Lone’s plunge into politics. But Lone, the chairman of the People’s Conference, and Mirwaiz differ a little when it comes to their philosophies.
Sajjad, along with his brother Bilal Gani Lone, was very much a part of the Mirwaiz-led Hurriyat Conference. That is, till he fell out with the Mirwaiz over a personal issue in 2005. The story goes that Mirwaiz participated in the funeral prayers of the militant (Rafiq Ahmad Dar alias Ladri of Al Ummer Mujahideen) who was accused of killing Sajjad’s father, Abdul Gani Lone — the founder leader of the Hurriyat conglomerate. But Bilal, Sajjad’s elder brother continued his association with the Mirwaiz. Initial acrimony apart, both Sajjad and Bilal are now on cordial terms.
It is perhaps against this backdrop that the acting chairman of the Mirwaiz-led Hurriyat faction, Molvi Abbas Ansari, defended Sajjad’s decision, comparing it to that of Shaikh Mohammad Abdullah’s — who contested elections after heading the Plebiscite Front.
But this is not the first time separatist leaders have been led by the situation. Last year, reacting to the economic blockade of Kashmir that was enforced by Jammu rioters during the Amarnath land row, Syed Ali Geelani called for a cross LOC march in August. Mirwaiz had then said that the march would be undertaken only after August 15. Meanwhile, the JKLF chief, Yasin Malik chose to go on a hunger strike.
While traders and fruit growers defied Geelani, Mirwaiz and Malik and by going ahead with the march on August 11. Consequently, the separatist leaders were left with little choice but to fall in line. But the march was stopped at Chahal village near Uri after the police opened fire killing Shaikh Abdul Aziz, People’s League chief and three others.
The Hurriyat Conference, a combination of more than two-dozen groups, was formed in 1993. The agenda was to provide political leadership to the armed struggle launched by the Kashmiri youth in the late 80s.
Back then, Robin Raphael, an American diplomat was a frequent visitor to Kashmir. Before the formation of the Hurriyat Conference, she had extensive meetings with separatist leaders, who were heading individual outfits. A common impression, confirmed by separatist leaders privately, was that Raphael had motivated separatists to get together under one banner.
“The Hurriyat was formed to lead the movement from the front and keep initiative with itself”, says Tahir Mohiuddin, senior journalist and editor of the Urdu weekly Chattan. “But it failed bitterly,” adds Mohiuddin, “Not a single instance can be cited where Hurriyat leaders have played a lead role.” “The initiative,” he says, “ always remained either with militants or Pakistan or the common people. Hurriyat leaders had simply to follow these initiatives.”
After militants issued a diktat against casting votes, the Hurriyat leaders had to campaign against polling in the 1996 parliamentary and Assembly elections. The Hurriyat continued with this stand in later elections as well. However, with the dwindling influence of militants, the Hurriyat changed its position.
In the 2002 Assembly elections, the People’s Conference was accused of fielding proxy candidates, and Syed Ali Geelani sought the expulsion of both, Sajjad and Bilal from the amalgam. Mirwaiz, however, stood by the Lone brothers. And this led to division in the separatist conglomerate with Syed Ali Geelani forming a rival faction.
Altaf Hussain, BBC’s north India correspondent is of the view that “the mailing address of the separatist movement in Kashmir has been the Hurriyat. It has never led the movement. Nor has it ever had the potential to change the course of events.” Hussain adds that people have associated themselves with the platform because of its ideology. “Otherwise, none of the leaders has ever inspired the ordinary people,” he adds.
Ubair Shah, a business professional, agrees. “People don’t take them (the separatist leaders) seriously. They held several rounds of talks with New Delhi. And it made little difference. If tomorrow they decide to take part in elections, it would be just another day for them.”
The other factor that narrowed the choice for the separatist amalgam was Sajjad Lone’s plunge into politics. But Lone, the chairman of the People’s Conference, and Mirwaiz differ a little when it comes to their philosophies.
Sajjad, along with his brother Bilal Gani Lone, was very much a part of the Mirwaiz-led Hurriyat Conference. That is, till he fell out with the Mirwaiz over a personal issue in 2005. The story goes that Mirwaiz participated in the funeral prayers of the militant (Rafiq Ahmad Dar alias Ladri of Al Ummer Mujahideen) who was accused of killing Sajjad’s father, Abdul Gani Lone — the founder leader of the Hurriyat conglomerate. But Bilal, Sajjad’s elder brother continued his association with the Mirwaiz. Initial acrimony apart, both Sajjad and Bilal are now on cordial terms.
It is perhaps against this backdrop that the acting chairman of the Mirwaiz-led Hurriyat faction, Molvi Abbas Ansari, defended Sajjad’s decision, comparing it to that of Shaikh Mohammad Abdullah’s — who contested elections after heading the Plebiscite Front.
But this is not the first time separatist leaders have been led by the situation. Last year, reacting to the economic blockade of Kashmir that was enforced by Jammu rioters during the Amarnath land row, Syed Ali Geelani called for a cross LOC march in August. Mirwaiz had then said that the march would be undertaken only after August 15. Meanwhile, the JKLF chief, Yasin Malik chose to go on a hunger strike.
While traders and fruit growers defied Geelani, Mirwaiz and Malik and by going ahead with the march on August 11. Consequently, the separatist leaders were left with little choice but to fall in line. But the march was stopped at Chahal village near Uri after the police opened fire killing Shaikh Abdul Aziz, People’s League chief and three others.
The Hurriyat Conference, a combination of more than two-dozen groups, was formed in 1993. The agenda was to provide political leadership to the armed struggle launched by the Kashmiri youth in the late 80s.
Back then, Robin Raphael, an American diplomat was a frequent visitor to Kashmir. Before the formation of the Hurriyat Conference, she had extensive meetings with separatist leaders, who were heading individual outfits. A common impression, confirmed by separatist leaders privately, was that Raphael had motivated separatists to get together under one banner.
“The Hurriyat was formed to lead the movement from the front and keep initiative with itself”, says Tahir Mohiuddin, senior journalist and editor of the Urdu weekly Chattan. “But it failed bitterly,” adds Mohiuddin, “Not a single instance can be cited where Hurriyat leaders have played a lead role.” “The initiative,” he says, “ always remained either with militants or Pakistan or the common people. Hurriyat leaders had simply to follow these initiatives.”
After militants issued a diktat against casting votes, the Hurriyat leaders had to campaign against polling in the 1996 parliamentary and Assembly elections. The Hurriyat continued with this stand in later elections as well. However, with the dwindling influence of militants, the Hurriyat changed its position.
In the 2002 Assembly elections, the People’s Conference was accused of fielding proxy candidates, and Syed Ali Geelani sought the expulsion of both, Sajjad and Bilal from the amalgam. Mirwaiz, however, stood by the Lone brothers. And this led to division in the separatist conglomerate with Syed Ali Geelani forming a rival faction.
Altaf Hussain, BBC’s north India correspondent is of the view that “the mailing address of the separatist movement in Kashmir has been the Hurriyat. It has never led the movement. Nor has it ever had the potential to change the course of events.” Hussain adds that people have associated themselves with the platform because of its ideology. “Otherwise, none of the leaders has ever inspired the ordinary people,” he adds.
Ubair Shah, a business professional, agrees. “People don’t take them (the separatist leaders) seriously. They held several rounds of talks with New Delhi. And it made little difference. If tomorrow they decide to take part in elections, it would be just another day for them.”
Saturday, April 18, 2009
other stories
Communist leader Ahilya Rangnekar passes away
Veteran Communist leader Ahilya Rangnekar passed away in Mumbai on Sunday following a heart attack. She was 89.
Rangnekar died at her Matunga residence in central Mumbai, family sources said.
Strong 6.2 earthquake hits Indonesia: agency
A strong 6.2-magnitude quake struck in Indonesia's north Sulawesi province on Sunday but there were no reports of damage or injuries, the geophysics agency said.
Fire at Air India building A fire broke out on the 13th floor of the Air India headquarters building in south Mumbai in the wee hours of the morning, fire officials said.
Three dead in suspected US strike in Pakistan: officials
Three people were killed on Sunday in a suspected US missile attack targeting a militant hideout in Pakistan's tribal area bordering Afghanistan, officials said.
US family of five killed in apparent murder-suicide: police
A US man apparently murdered his wife and three small children before fatally shooting himself, police in the eastern state of Maryland said.
Venezuela's Chavez to restore ambassador in US
Hugo Chavez said that he is restoring Venezuela's ambassador in Washington, voicing hopes for a 'new era' in US relations after barely getting to know US President Barack Obama at a regional summit.
IGI's new departure terminal becomes operational
The new domestic departure terminal of the Indira Gandhi International airport in New Delhi become operational this morning with the passengers of Guwahati-bound Indigo flight using the ultra-modern setup to board their plane.
Veteran Communist leader Ahilya Rangnekar passed away in Mumbai on Sunday following a heart attack. She was 89.
Rangnekar died at her Matunga residence in central Mumbai, family sources said.
Strong 6.2 earthquake hits Indonesia: agency
A strong 6.2-magnitude quake struck in Indonesia's north Sulawesi province on Sunday but there were no reports of damage or injuries, the geophysics agency said.
Fire at Air India building A fire broke out on the 13th floor of the Air India headquarters building in south Mumbai in the wee hours of the morning, fire officials said.
Three dead in suspected US strike in Pakistan: officials
Three people were killed on Sunday in a suspected US missile attack targeting a militant hideout in Pakistan's tribal area bordering Afghanistan, officials said.
US family of five killed in apparent murder-suicide: police
A US man apparently murdered his wife and three small children before fatally shooting himself, police in the eastern state of Maryland said.
Venezuela's Chavez to restore ambassador in US
Hugo Chavez said that he is restoring Venezuela's ambassador in Washington, voicing hopes for a 'new era' in US relations after barely getting to know US President Barack Obama at a regional summit.
IGI's new departure terminal becomes operational
The new domestic departure terminal of the Indira Gandhi International airport in New Delhi become operational this morning with the passengers of Guwahati-bound Indigo flight using the ultra-modern setup to board their plane.
Strong 6.2 earthquake hits Indonesia: agency
A strong 6.2-magnitude quake struck in Indonesia's north Sulawesi province on Sunday but there were no reports of damage or injuries, the geophysics agency said.
The quake hit at 1:23 pm (0523 GMT) about 20 kilometres (12 miles) northeast of Melonguane city at a depth of 50 kilometres. No tsunami alert was issued.
"Tremors are felt in the area but not significant ones. There's no report of damage," agency official Suharjono told AFP.
The Indonesian archipelago sits on the Pacific Ring of Fire where continental plates meet, causing frequent seismic and volcanic activity.
The quake hit at 1:23 pm (0523 GMT) about 20 kilometres (12 miles) northeast of Melonguane city at a depth of 50 kilometres. No tsunami alert was issued.
"Tremors are felt in the area but not significant ones. There's no report of damage," agency official Suharjono told AFP.
The Indonesian archipelago sits on the Pacific Ring of Fire where continental plates meet, causing frequent seismic and volcanic activity.
Subscribe to:
Posts (Atom)