-The Hindu   We'll have to make ‘some compromises,' to pass the Bills: govt. sources The UPA government had hoped to push its social welfare agenda through in Parliament by legislating on food security and land acquisition. Instead, just five days into the second half of the ongoing budget session, it is engaged in damage control, trying to put out three fires simultaneously - the coal blocks' allocation issue, the 2G JPC imbroglio...

-CNN-IBN Kolkata: West Bengal Governor MK Narayanan has called a special session of the state Assembly next week beginning April 29 to discuss the chit fund scam. Speaker Biman Banerjee, in fact, has called an all-party meeting at 3 pm on Friday to discuss the special session. But the TMC wants the West Bengal Protection of Depositors' Interest in Financial Institution Bill to be returned by the Centre so that it could...

-The Indian Express Kolkata: Saradha Realty Ltd, which has gone bust now, may be just the beginning of the unfolding of a deeply entrenched Ponzi scheme network involving dozens of other companies in West Bengal, some of which also wield considerable media power given their ownership of television channels and newspapers. According to information available with the union corporate affairs and finance ministries, six companies, against whom market regulator Securities and Exchange...

-PTI Finance Ministry should appoint a nodal officer to distribute RTI applications to the concerned central public information officer for processing, the Delhi High Court has directed while upholding the order of Central Information Commission in this regard. The Finance Ministry has five departments-- Economic Affairs, Revenue, Expenditure, Financial Services and Disinvestment. Each one of them have different sets of Central Public Information Officers for processing RTI applications but there is none to...

-The Indian Express Chit fund scams shine the light on the need to overhaul the financial regulatory architecture Cases of semi-regulated or unregulated entities making unrealistic promises to consumers are roiling the financial landscape. It is high time the government sees the pattern and undertakes fundamental change. The search for a solution must factor in two realities. The first is the failure of the formal regulated financial system. The breakdown of present...