The government is probing funds received by 77 NGOs from foreign shores , including tax havens, to find out their sources, suspected forex violation and alleged illegal investment. The probe has been launched after the Intelligence Bureau (IB) shared with the Financial Intelligence Unit (FIU) the activities of the non-government organisations and their suspected foreign sources of funds. The investigations by the enforcement agencies will try to find out from which countries...

The people are showing who the boss is. The weapon in their hands is the internet, which, in the last five days, has seen frantic activism against "power brokering" by journalists in collusion with corporate groups and top government politicians. It all began with the publication of sensational tapes related to the 2G spectrum scam by two magazines over the weekend. Two high-profile journalists, Barkha Dutt and Vir Sanghvi, whose names...

It is quite likely that a few weeks from now someone will be knocking at your doors and asking for your fingerprints. If you agree, your fingerprints will enter a national database, along with personal characteristics (age, sex, occupation, and so on) that have already been collected from you, unless you were missed in the “Census household listing” earlier this year. The purpose of this exercise is to build the National...

Soon after the monsoon was over, rains made unseasonal comeback in Nashik and nearby areas again on Diwali day. As days passed, the initial surprise turned into shock as it rained night after night, and by Sunday it had rained 525mm in November. Heavy showers and thunderstorms all over the district damaged the crops so much that nothing of the rabi (winter) crop remains. Vineyards have thrown away young berries at...

Yaga Venugopal Reddy , former Reserve Bank of India governor credited with saving the nation’s financial system from the 2008 meltdown, has said what many finance experts believed, but did not have the courage to admit publicly: microfinance is India’s subprime. “Ultimately, it’s something like subprime lending,” Mr Reddy told ET in an interview ahead of his book release. “The same incentives are operating here... it was securitisation and derivatives that...