The state government has been blamed for actively aiding and abetting the Adarsh Housing society scam, in a report by the Comptroller and Auditor General (CAG) of India, which was tabled in the legislative assembly on Friday. Accusing the state machinery of overlooking subversion of rules and regulations by the society and granting unreasonable concessions, the CAG has termed the scam as a "failure in governance at all levels". Many officers,...

-Express News Service Branding the Adarsh scam a “classic example of the fence eating the crops” and “how a select and powerful elite could collude to subvert rules and regulations for personal benefit” , the Comptroller and Auditor General has slammed the government and officials in its audit of the Adarsh Cooperative Housing Society. The report, that was tabled in the Assembly on Friday, called the entire Adarsh episode a remarkable case...

It will provide credit risk guarantee to banks on the loans Prime Minister Manmohan Singh on Tuesday announced that the Centre was considering setting up a credit risk guarantee fund with a corpus of Rs. 1,000 crore, to start with, to encourage banks to lend to the poor for Housing. Emphasising that developing Housing for the poor was critical for sustainable urban development, he said: “To encourage banks to lend in significant...

-IANS The government is considering creating a corpus fund of Rs.1,000 crore ($18.7 million) in the current fiscal that would encourage banks to give Housing loans in 'significant volumes' to the urban poor, Prime Minister Manmohan Singh said Tuesday. Addressing a conference on the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) here, Manmohan Singh said the corpus of Rs.1,000 would be set aside to create a credit risk guarantee fund that could...

-The Hindu   On the orders of the Special Lokayukta Court here, the Lokayukta police on Thursday filed FIR against three former Chief Ministers as well as 11 senior civil servants of Karnataka. External Affairs Minister S.M. Krishna, and MPs N. Dharam Singh and H.D. Kumaraswamy will be investigated by the Lokayukta police in a case in which they have been accused of complicity in the alleged multi-crore mining scam. The investigating agency will...