-Outlook Banks are fleecing customers to shore up their profits and offset the dead weight of bad loans to corporates When the GST era dawned this month, online jokesters quipped that it was the most inscrutable thing after Duckworth Lewis. But paradoxically, it may have brought a disquieting clarity to another zone of universal experience. Amid the flurry of news reports detailing what would entail a higher tax of 18 per cent,...
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Anti-Graft Forum Questions Centre's Appointment of Firm Accused of Scams for Black Money Probes -Gaurav Vivek Bhatnagar
-TheWire.in PricewaterhouseCoopers, convicted in the Rs 7,000 crore Satyam scam, had also audited accounts of Vijay Mallya’s firm and the Global Trust Bank, which collapsed. New Delhi: The Narendra Modi government’s appointment of PricewaterhouseCoopers (PwC) India to key projects like black money probes, Digital India, Make in India and Smart Cities project has been questioned by the Citizens Whistleblowers Forum. The group has also expressed concern over the RBI’s engagement of the...
More »Of songs and seeds: This MP man is on a mission to save tradition, local crops -Neeraj Santoshi
-Hindustan Times Madhya Pradesh’s Babulal Dahiya is a collector of folk songs and seeds and has sown 110 varieties of rice to preserve them. Bhopal: He is a collector of folk songs and seeds. And it was while collecting Bagheli folklore, this 72-year-old farmer cum Bagheli poet realized that saving folk songs and sayings won’t mean much if the local crop varieties, which repeatedly crop up in the folk literature, are...
More »CBSE asks private schools for data on fee structure to curb overcharging
-PTI To curb charging of “unreasonable” fees and levying of “hidden” costs, the CBSE has sought data from private schools about their fee structure and increase carried out in recent years. The move comes weeks after the Central Board of Secondary Education (CBSE) warned private schools against turning into “shops” by selling uniform and Books in their premises. “We have told the schools that they should not charge unreasonable fees. The charges should...
More »Auditor Extraordinaire: The Curious Case of NPA Underreporting in India -Hemindra Hazari
-TheWire.in At Axis Bank and Yes Bank, it appears that a single auditor of a member firm of Ernst and Young has overlooked gross NPAs of a staggering Rs 13,655 crore. Recently, Axis Bank and Yes Bank jolted the Indian banking community while releasing their annual results. Both banks disclosed a staggeringly large divergence between the banks’ audited accounts and the Reserve Bank of India’s (RBI) findings regarding bad loans on the...
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