-The Times of India KOLKATA: It's not only Cobrapost that seems to be stinging public sector banks. State-owned banks have come under fire and are accused of being hand-in-glove with willful defaulters like Ponzi kingpin Sudipta Sen. In a 25-page statement that the CBI deems a confession, Sen has detailed how he acquired Global Automobiles, a company with a bank Debt of Rs 186 crore. Formed in 2005, the company's owner Shantanu...
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Trail of death in chit fund collapse -Falguni Banerjee & Sanjib Chakraborty
-The Times of India CHINSURAH/SODEPUR: The body count in the aftermath of the Saradha collapse keeps going up. A director of a micro-finance company was murdered at his home in Hooghly's Chinsurah on Monday even as the father of a chit fund agent hanged himself after being beaten and humiliated by cheated depositors in Sodepur on the northern outskirts of Kolkata. This is the eighth suicide since the Saradha Group meltdown ruined...
More »Keeping children out of labour
-The Hindu The economic vulnerabilities that confront households in the current sluggish recovery from the global meltdown are aggravating the fight against child labour, says the International Labour Organisation. Its latest report emphasises the need for universal coverage of at least a minimum level of social security to help some 215 million working children. Half that number is trapped in the worst forms of child labour - work akin to...
More »Building euphoria-Himanshu Upadhyaya
-Frontline But in Modi's Gujarat the difference between development and darkness is all too visible to those who care to see. NARENDRA MODI may have won three consecutive elections and ruled Gujarat for more than a decade after he was posted there almost as a night watchman, to borrow a cricketing expression. He may have mobilised a massive fan following that is shouting to catapult him into the Prime Minister's post,...
More »No wealth tax on farm land, says Chidambaram
-The Hindu Minister relaxed tax benefit-related residency norms for foreign investors Finance Minister P. Chidambaram on Tuesday allayed apprehensions over the imposition of wealth tax on agricultural land within urban area limits to provide a big relief to farmers, especially in Haryana and Punjab. Mr. Chidambaram relaxed the tax benefit-related residency norms for foreign investors routing funds through countries such as Mauritius and lowered the withholding tax rate to five per cent from...
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