The Commonwealth Games corruption probe could lead to raids on the homes and offices of some of the organisers to find missing documents, sources said. Agencies investigating wrongdoing in the Games preparations have complained that key files and documents are untraceable or unavailable at the offices of the government departments that carried out the work. Enforcement Directorate sources said they might raid some of the key people behind the organisation of the...

Interest rates on loans from microfinance institutions (MFIs) are likely to be capped at around 24 per cent. Currently, MFIs are charging 26-40 per cent on small loans extended to their rural customers — many of whom are yet to get even a bank account — while urban customers get personal loans at 12 per cent from commercial banks. Though neither the RBI nor the government has fixed any ceiling on...

Mahatma Gandhi National Rural Employment Guarantee Scheme (MG-NREGA) has been in news mainly due to corruption or inefficiency. The country has spent close to Rs 40,000 crore this fiscal but a large number of urban middle class people and opinion leaders don’t know what to make of it. Cynicism apart, the rights-based scheme has proved to be a game-changer in rural India despite mixed success. The scheme has been relatively...

In an apparent reference to former Chief Vigilance Commissioner (CVC) Pratyush Sinha’s recent comment regarding his “thankless” job, Union Law and Justice Minister M Veerappa Moily on Monday said senior officers weren’t expected to make such statements. Sinha had observed at an interview last week that the worst part of his “thankless” job was observing how corruption had increased as people became more materialistic. “I don’t want to name anyone, he...

THE government has directed public sector banks to provide data on corruption charges against bank officials involved in the agricultural loan waiver scheme after complaints that many of them took bribes for processing applications. The finance ministry wants to put such cases on fast track as the performance audit of the scheme has already been initiated by the comptroller and auditor general of India (CAG), the government’s statutory auditor. The...