-The Times of India BENGALURU: From misuse of letters of credit, guarantee or undertakings to diversion and siphoning of funds, a variety of FRAuds linked to advances haunt the Indian banking system, indicating a lack of hygiene and risk FRAmeworks. While 86% of all FRAuds in India for 2016-17 are linked to advances, it was 99% at Punjab National Bank (PNB) which, experts say, points to collusion with insiders. Also, 26 banks...
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Social activists and political leaders demand for transparency in voting process
-Press Release by Delhi Forum New Delhi, 19th February, 2018: “Today it is no more the question of going back to ballot paper in elections, but it’s a must that 2019 elections be conducted through the ballot papers. EVM machines are destroying the trust between the voter and the democratic system. Democracy is too precious to be left to machines. To ensure the democratic nature of the country, the 2019 election...
More »RBI's NPA bitter pill comes with some side effects -Richa Mishra & KR Srivats
-The Hindu Business Line Bankers call for a coordinated approach to deal with the stressed loans issue New Delhi: The RBI’s revised FRAmework for stressed loans may prove to be disastrous and seems ill timed for an economy that is just recovering from twin policy blows of demonetisation and GST implementation. Though there are long-term benefits of administering such a bitter pill, the short-term risks are significant, say bankers. “This (revised NPA FRAmework) is...
More »Too clever by half? -Venkatesh Athreya
-Frontline.in Despite its deeply flawed neoliberal perspective, Economic Survey 2017-18 is rich in detail, has many useful analytical discussions at different levels of aggregation, and would serve as a useful resource for students and scholars. When Arvind Subramanian, the present Chief Economic Adviser to the Ministry of Finance who took office way back in October 2014, presented his first Economic Survey, the one for 2014-15, there was considerable novelty on offer, at...
More »Aadhaar that doesn't exclude -Ashok Kotwal & Bharat Ramaswami
-The Indian Express Biometric authentication by PDS dealers defeats the unique identity scheme’s purpose. An aborted scheme in Madhya Pradesh that relied on once-in-a-year authentication can curb exclusion errors. Aadhaar is in the news today partly because of security concerns and partly because of reports that the poor are unable to receive PDS rations because of failures in Aadhaar authentication. Here, we will focus on the latter with an eye to look...
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