Citibank manager Shivraj Puri’s alleged FRAud on wealthy clients has swivelled the spotlight on the growing number of high net-worth individuals whose money banks rush to manage for a fee. The wealth of high net-worth individuals (HNIs) — defined as those who have “investable assets of at least $1 million (around Rs 4.5 crore) — in India is estimated at a staggering $477 billion and is rising each day. According to the...

Mai-baap. That is how poor Indians referred to the state ever since independence. The benign provider looking after its subjects like the rajas of yore. But, today, the people have started demanding accountability from the mai-baap. Why? Because a clutch of new laws, like the Right To Information Act (RTI) and the National Rural Employment Guarantee Act (NREGA), are moving the government's developmental promises beyond "the realm of a privilege that...

An impact assessment report by Tata Institute of Social Sciences (TISS) here has come down heavily on the proposed nuclear power plant at Jaitapur in Ratnagiri district of Maharashtra stating that the project will have a “huge negative impact on social and environment development” as it is sitting on a high to moderate severity earthquake zone. The TISS findings in Perception Matter- People’s Report- Social Impact Assessment of Jaitapur Madban Nuclear...

A number of welfare schemes for women launched, says Minister The Laadli girl child welfare scheme has proved to be a big success with 140,006 girls being registered under it in 2009-10 and as many as 17,085 girls receiving the final maturity payment through their bank accounts, Delhi Social Welfare Minister Kiran Walia said here on Tuesday. Speaking about the performance of various social welfare schemes during the year, Prof. Walia said...

If the price rise is due to production shortfall, how does one explain the near doubling of the price within a few days? The sharply rising onion prices have raised the suspicion that speculators are manipulating a shortage situation. First, a few facts. In retail markets, onion prices have soared from Rs 10-11 per kg in June to as high as Rs 70-80 on Dec 21. Even more significantly, prices zoomed by...