After dedicating most of 2009 to jump-starting financial markets through stimulus packages, developed countries are now turning their attention to reforming the basic architecture of those markets, especially the incentives for risk-taking. In a major step towards regulating systemic risks, the United Kingdom last week announced a one-off 50 per cent “super-tax” on bankers’ discretionary bonuses exceeding £25,000. The move could raise £550 milli on, which would be used to...

Sahyadris have been documenting the changing climate for 40 years The latest joke among the Mahadeo Koli tribals living in the Bhimashankar area of Maharashtra’s Pune district is: “Ovni zali ka? (Have you transplanted your paddy?)” In the rain drenched Sahyadri range, where the main food crop is paddy, the unseasonal rains brought on by cyclone Phyan in late November have caused the harvested crop of fragrant Raibhog paddy to sprout...

Taking suo motu notice of reports of ToRture of two minors by the police in Jhundpura, Uttar Pradesh, that too for no cause, the National Human Rights Commission (NHRC) on Tuesday sought an explanation from the State. The NHRC issued a notice to the SSP of Gautambudh Nagar, seeking a “factual” report within four weeks. It said the matter was a serious violation of human rights of minor children. The notice related...

The increase in the number of civil cases in a country is its social mascot, as it symbolises the abundance of law abiding civilised citizens accepting the authority of the judiciary to get their grievances redressed. Otherwise, they would have turned to self-retaliation or employed roughnecks, a usual practice in America and Britain enkindled by their criminal heritage, to enforce justice in their own way; hence all civil litigants may...

Even a cursory glance at the daily newspaper reveals the economic mindset and the manipulation of that mindset into losing its sense of balance and well-being by the plethora of reports, articles and sToRies on the economic life of the Indian nation. There are all sorts of sToRies, statistics, credit appraisals, banking trends, FDI investment couched in the jargon of the modern economy that, curiously enough, seems to be so...