The Adarsh housing scam, which has already cost Ashok Chavan his job as Maharashtra chief minister, is sinking to still more embarrassing depths as investigators comb carefully through the claims of its promoters, who invoked the names of Kargil heroes and war widows to extract clearances. Did any Kargil hero actually get a flat in Adarsh? In 2002, the society had listed two members — out of a total of 71...

We are a cash-rich company run by professionals,” says a smarmy 30-something Mumbai-based head of a leading real estate company. His company’s exponential growth in the span of just five years has raised eyebrows in industry and banking circles. The reasons are clear. The company is known to have tremendous clout in the corridors of power and with the builders’ lobby. It is backed by several important politicians in Mumbai and...

The poster boy of microfinance is now seeking some anonymity. In Andhra Pradesh, the epicentre of the worst crisis faced by microfinance in India, SKS Microfinance is playing down its identity and going into preservation mode. At its modest office in a residential colony in Warangal district, India’s largest microfinance company has taken down its board. At its head office in upmarket Begumpet in Hyderabad, it hung a cloth mesh...

The worries of state procurement and storage agencies may accentuate, as the wheat crop this rabi season is likely to have a higher output this year. The Ministry of Agriculture has projected a crop size of 82 million tonnes as compared to 80.71 million tonnes last year. “Although a bonus of Rs 20 a quintal is a pittance, it will not dissuade farmers from growing wheat, as it is a stable crop...

There has been a significant pick up in credit flow to industry, services and personal loan segments during the current financial year. However, credit flow to agriculture has declined further, data released by the Reserve Bank of India as part of Macroeconomic and Monetary Developments Second Quarter Review 2010-11 shows. While credit flow to industry was highest at Rs 1,07,386 crore, credit flow to agriculture contracted by Rs 13,481 crore during...