The Niira Radia tapes have firmly put the spotlight of adverse attention on politics and the media. But surprisingly, the loudest voice of protest—which is also a claim of innocence and a warning that the focus on the mud-smeared keeps attention off the real beasts in the 2G story—has come from India Inc. Ratan Tata, head of the Tata group and Radia’s foremost client, calls the leaked tapes “unauthorised” and...
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Mining industry unhappy over profit-sharing clause
The decision of the Group of Ministers (GoM) to force mining companies to share 26 per cent of their profits with local and project affected people hasn’t gone down well with the industry.Union Mines Minister B K Handique had said the Bill in this regard had been approved by the GoM.Hemant Nerurkar, managing director, Tata Steel, said: “I don’t think that is the way forward. Look at the world: no...
More »Grameen founder Muhammad Yunus in Bangladesh aid probe by Ethirajan Anbarasan
Norway says it is examining reports that Nobel Peace Laureate Muhammad Yunus allegedly diverted millions of dollars of aid Money from a bank. International Development Minister Erik Solheim said that it was "totally unacceptable that aid is used for other purposes than intended". A documentary maker has alleged that cash was diverted from Professor Yunus' Grameen Bank to other parts of Grameen. In a statement, the bank said that the allegations were false. It...
More »Indian professors developing authentication system through speech recognition by Bikash Singh & Debjoy Sengupta
Scenario I: An illiterate person walks into an ATM, utters his password in Bhojpuri to withdraw Money. Or a labourer working under the National Rural Employment Guarantee Act (NREGA) speaks his voice signature to mark his attendance for the day. Scenario II: The door at a top-secret Indian defence establishment open son a voice recognition system that allows only certain officials access to the premises. If you think this is stuff out...
More »Government asks banks to submit MFI loan, NPA data by Manojit Saha
Two months after the crisis in the microfinance industry broke out, resulting in the possibility of bank loans to the sector becoming non-performing, the government now wants to do a reality check. Last evening, the finance ministry dashed off a letter to public sector banks, Small Industries Development Bank of India and National Bank for Agriculture and Rural Development, asking them to furnish data on how much exposure they have to...
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